Connect with us

Real Assets

The Next Frontier: Mineral Exploration in Saskatchewan

Published

on

This graphic is sponsored by SKRR Exploration.
Saskatchewan Mineral Exploration

The Next Frontier: Mineral Exploration in Saskatchewan

Lying in the heart of Canada is the next great mineral exploration frontier, Saskatchewan. This humble province lies at the center of one of the greatest mining countries in the world, but despite Canada’s long history with mining, Saskatchewan is still open for discovery.

This infographic from our sponsor SKRR Exploration shows where the next mineral frontier for discovery lies in Saskatchewan.

The Road to Resources: Opening for Business

Saskatchewan covers 588,239 square kilometers, roughly the size of Iran or Mongolia, with a population density of only 1.8 persons per square kilometer. This central province sits on the edge of a vast frontier that is rich with mineral resources that could power and feed the world.

In order to encourage investment, Saskatchewan has several incentive programs for the mining industry.

  • The Targeted Mineral Exploration Incentive: 25% rebate on eligible drilling costs in regions of high potential for base metals, precious metals and diamonds.
  • The Saskatchewan Mineral Exploration Tax Credit: A non-refundable 10% tax credit to Saskatchewan taxpayers who invest in eligible flow-through shares issued by mining or exploration companies.
  • A 10-year royalty holiday for new gold and base metal mines.
  • A 5-year incorporation tax rebate for mineral processing.

While the province is encouraging mineral exploration, there are already proven success stories that are just scraping the surface of the opportunities available.

Resources Ready to Go

In 2020, Saskatchewan sold C$7.4 billion worth of metals and minerals, the fourth highest amount in Canada. Saskatchewan’s mining sector provides business opportunities and jobs for over 12,400 individuals across the province, and contributes an additional 25,000 indirect jobs.

  • Potash: The province has the largest potash industry in the world, accounting for about 1/3 of annual global production and hosting nearly half of the world’s known reserves.
  • Uranium: The world’s richest deposits of uranium lie in Saskatchewan, giving the province the ability to produce more uranium with less land surface disturbance than almost anywhere on Earth.
  • Diamonds: In 2004, Shore Gold discovered diamonds near Fort à La Corne in central Saskatchewan. There is a plan to bring the 66-million carat Star-Orion South project into production.
  • Base Metals: The Flin Flon mining camp, on the Manitoba-Saskatchewan border, is a large base metal producer region and is estimated to have the highest contained value of ore per square kilometer in Canada for VMS deposits.
  • Gold: The province holds two multi-million ounce discoveries to date, the Seabee and MacLellan gold mines in the Trans-Hudson geological formation.

There is more to discovery. Exploration expenditures in 2019 were $264 million, and companies planned to spend $242 million in 2020.

SKRR Exploration: Opening a Frontier

SKRR Exploration is leading mineral exploration into Canada’s final frontier and has secured prime mineral properties to take advantage of the wave of demand for metals. SKRR has six gold and one base metal exploration projects in the heart of one of the most prospective geological belts in North America.

At the helm of SKRR exploration are two leaders who know the geology of Saskatchewan well and have a proven history of discovery, Ron Neolitzky and Ross McElroy. Neolitzky was inducted into the Canadian Mining Hall of Fame for his development of two successful precious metals mines. McElroy was part of the exploration team that discovered Cameco’s McArthur uranium deposit.

SKRR Exploration is bringing together the right elements of Saskatchewan to make the next great discovery.

Subscribe to Visual Capitalist
Click for Comments

Real Assets

All the Metals We Mined in One Visualization

This infographic visualizes the 2.8 billion tonnes of metals mined in 2022.

Published

on

All the Metals We Mined in One Visualization

Metals are a big part of our daily lives, found in every building we enter and all devices we use.

Today, major industries that directly consume processed mineral materials contribute 14% of the United States economy.

The above infographic visualizes all 2.8 billion tonnes of metals mined in 2022 and highlights each metal’s largest end-use using data from the United States Geological Survey (USGS).

Iron Ore Dominance

Iron ore dominates the metals mining landscape, comprising 93% of the total mined. In 2022, 2.6 billion tonnes of iron ore were mined, containing about 1.6 billion tonnes of iron.

Metal/OreQuantity Mined in 2022 (tonnes)% of Total
Iron ore2,600,000,00093.3%
Industrial metals185,111,8356.6%
Technology and Precious Metals1,500,0080.05%
Total2,786,611,843100%

Percentages may not add up to 100 due to rounding.

Iron ores are found in various geologic environments, such as igneous, metamorphic, or sedimentary rocks, and can contain over 70% iron, with many falling in the 50-60% range.

Combined with other materials like coke and limestone, iron ore is primarily used in steel production. Today, almost all (98%) iron ore is dedicated to steelmaking.

The ore is typically mined in about 50 countries, but Australia, Brazil, China, and India are responsible for 75% of the production.

Because of its essential role in infrastructure development, iron ore is one of the most crucial materials underpinning urbanization and economic growth.

Industrial Metals

Industrial metals occupy the second position on our list, constituting 6.6% of all metals mined in 2022. These metals, including copper, aluminum, lead, and zinc, are employed in construction and industrial applications.

Aluminum constituted nearly 40% of industrial metal production in 2022. China was responsible for 56% of all aluminum produced.

Industrial Metals2022 Mine Production (tonnes)% of Total
Aluminum69,000,00037.3%
Chromium41,000,00022.1%
Copper22,000,00011.9%
Manganese20,000,00010.8%
Zinc13,000,0007.0%
Titanium (mineral concentrates)9,500,0005.1%
Lead4,500,0002.4%
Nickel3,300,0001.8%
Zirconium Minerals (Zircon)1,400,0000.8%
Magnesium1,000,0000.5%
Strontium340,0000.2%
Uranium49,3550.03%
Bismuth20,0000.01%
Mercury2,2000.00%
Beryllium2800.00%
Total185,111,835100%

In the second position is chromium, which plays a primary role in rendering stainless steel corrosion-resistant. South Africa led chromium production, accounting for 44% of the total mined last year.

Technology and Precious Metals

Despite representing less than 1% of all the metals mined, technology metals have been on the news over the last few years as countries and companies seek these materials to reduce carbon emissions and improve productivity.

Technology and Precious Metals2022 Mine Production (tonnes)% of Total
Tin310,00020.7%
Rare Earth Oxides300,00020.0%
Molybdenum250,00016.7%
Cobalt190,00012.7%
Lithium130,0008.7%
Vanadium100,0006.7%
Tungsten84,0005.6%
Niobium79,0005.3%
Silver26,0001.7%
Cadmium24,0001.6%
Gold3,1000.2%
Tantalum2,0000.1%
Indium9000.1%
Gallium5500.04%
Platinum Group Metals4000.03%
Rhenium580.004%
Total1,500,008100%

They include lithium and cobalt, used in electric vehicles and battery storage, and rare earths, used in magnets, metal alloys, and electronics. Many of them are considered critical for countries’ security due to their role in clean energy technologies and dependency on other nations to supply domestic demand.

However, despite increasing interest in these metals, they are still behind precious metals such as gold and silver regarding market size.

The gold market, for example, reached $196 billion in 2022, compared to $10.6 billion for the rare earths market.

Continue Reading

Real Assets

Visualizing Mining’s Footprint in British Columbia

Mining represents 7% of British Columbia’s GDP despite only accounting for 0.04% of the land use.

Published

on

Mining Footprint in British Columbia

Visualizing Mining’s Footprint in British Columbia

British Columbia is considered a global leader in the development of socially and environmentally responsible resources.

An estimated 54% of the province’s total land is protected, making it one of the world’s greenest mining hubs.

This graphic by the B.C. Regional Mining Alliance (BCRMA) details mining’s footprint in the province.

A Tier 1 Jurisdiction for Mining

British Columbia covers almost 95 million hectares (234 million acres), more than any European country except Russia, and more than any U.S. state except Alaska.

As the largest mining province in Canada, BC registered $18 billion in revenue from the industry in 2022.

British Columbia stands as Canada’s sole producer of molybdenum, which finds applications in metallurgy and chemistry. Additionally, B.C. is the country’s leader producer of copper and steelmaking coal, besides gold and silver.

B.C. mined material breakdown

At the heart of British Columbia’s mining industry lies the Golden Triangle, one of the hottest mineral exploration districts in the world.

More than 150 mines have operated in the area since prospectors first arrived at the end of the 19th century. The region alone is endowed with minerals worth more than $800 billion.

How Green is B.C. Mining

Mining represents 7% of the province’s Gross Domestic Product (GDP), despite only accounting for 0.04% of the land use. In comparison, farmland demands 3% of the land, bringing $2.1 billion (0.8%) per year.

Land Use in B.C.Revenue (2022, CAD $)
Mining 0.04%$18.0 billion
Oil & Gas 0.4%$9.5 billion
Infrastructure1%$25.0 billion
Farmland3%$2.1 billion
Forest62%$13.3 billion

Mining operations are also supported by a stable, transparent, and effective policy environment. The province ranked as the world’s least risky for mining in 2017 and 2018.

In addition, mineral exploration has received ample support from local Indigenous communities. Today, mining accounts for over two-thirds of all indigenous people employed in the extractives sector.

According to the International Energy Agency, up to six times more minerals and metals will be needed by 2040 to accelerate the energy transition.

In this scenario, British Columbia is well positioned to support the transition to a low-carbon future and make a significant contribution to climate action.

The BCRMA is a strategic partnership between indigenous groups, industry, and government representatives that aims to promote B.C.’s mining opportunities internationally.

Continue Reading

Subscribe

Popular