Discover why Saskatchewan is a global leader in energy, mining, and advanced manufacturing, offering investors a wealth of opportunities in a resource-rich, innovation-driven economy.
Located in the heart of Canada, the province of Saskatchewan has the resources needed to help ensure food and energy security for generations.
Saskatchewan is one of the only jurisdictions in the world that sustainably produces crude oil, natural gas, helium, potash, uranium, gold and renewable energy such as solar, wind, and hydro-generated power. In consecutive annual surveys from the Fraser Institute, international mining executives rank Saskatchewan first in Canada and third in the world for mining investment attractiveness.
Critical resources
When it comes to critical minerals, Saskatchewan punches above its weight. The province is home to 27 of 34 critical minerals on Canada’s official list, including potash, uranium, helium, copper, zinc, rare earth elements (REEs), and lithium.
Saskatchewan is the world’s top producer of potash. This mineral is essential in the fight against global food insecurity and is one of the three key crop nutrients farmers need to increase yields and feed a growing world. Uranium is also a provincial cornerstone. Saskatchewan has the largest high-grade uranium deposits in the world and is the second largest global producer of this crucial mineral for generating reliable low-carbon electricity, today and into the future.
For investors in the oil and gas industry, Saskatchewan has much to offer. In the Fraser Institute’s annual survey, Saskatchewan consistently ranks among the most attractive jurisdictions in North America to invest in oil and gas. Saskatchewan is the second-largest oil producer in Canada, producing about 450,000 barrels per day with a target of 600,000 barrels by 2030. Saskatchewan is home to many enhanced oil recovery projects – including one of the world’s largest commercial carbon capture, utilisation, and storage (CCUS) projects – and produces some of the lowest-emission, responsibly-sourced oil on the planet.
Saskatchewan’s emerging helium sector continues to see year-over-year growth, producing from dedicated helium wells rather than as a byproduct of natural gas production. Saskatchewan’s helium sector now accounts for 3% of global supply – on track to meet the 10% target set in the province’s Helium Action Plan.
Thriving research and development landscape
On top of having rich deposits of raw resources, Saskatchewan also has a unique research and development environment that continues to innovate across industrial and resource sectors. The Petroleum Technology Research Centre, International Minerals Innovation Institute, Global Institute for Water Security, the Canadian Light Source, and the Sylvia Fedoruk Canadian Centre for Nuclear Innovation are all organisations based in the province who provide expertise to researchers and investors alike.
The Saskatchewan Research Council (SRC), Canada’s second largest research and technology organisation, supports more than 1,600 clients in 22 countries around the world. This cluster of experts provides the foundation for generational investment opportunities.
Recently, Saskatchewan opened North America’s first-ever minerals-to-metals rare earth processing facility, operated by the SRC. They employ many of the world’s leading experts in rare earth element processing and are working to make Saskatchewan a global REE hub. As the world races to access and secure a reliable supply of critical minerals, Saskatchewan is a key link for North America’s supply chain.
The Government of Saskatchewan strongly supports the growth of its energy and mining sectors. Last year, it launched ‘Securing the Next Decade of Growth: Saskatchewan’s Investment Attraction Strategy’, which includes many incentives for investors. These incentives include:
- Two new incentive programmes focused on emerging critical minerals.
- A new multi-lateral well programme to support innovative and sustainable tech to increase oil and gas production.
- Extensions and increased funding for several successful incentives like the Oil and Gas Processing Investment Incentive and the Saskatchewan Petroleum Innovation Incentive.
Advanced manufacturing
Not only does Saskatchewan have the raw resources the world needs, it is also home to a world-class advanced manufacturing industry that often supports it.
Saskatchewan’s advanced manufacturing sector leads in innovating world firsts, including remote-controlled equipment for uranium mining, in-road scales used in trucking, and environmental monitoring systems. In addition, our manufacturers have also pioneered cutting-edge technology, producing continuous mining equipment, autonomous farm tools, unmanned aerial vehicles, and even deep-space antenna systems.
Saskatchewan’s manufacturing workforce is the second most productive in Canada and has grown at a record pace to keep up with its flourishing economy. Nearly 40,000 people make their living in advanced manufacturing, and that workforce produces results. The most recent data shows that annual sales in the sector reached C$24.4bn.
Part of Saskatchewan’s advantage includes the robust suite of incentives the province provides to foster a competitive business environment, many of which are included in Saskatchewan’s investment attraction strategy. These incentives are designed to promote the economic health of businesses that operate in the province. They include:
- The Saskatchewan Technology Startup Incentive
- The Saskatchewan Technology Fund
- The Saskatchewan Advantage Innovation Fund
- The Product Development Program
- The Agtech Growth Fund
- The Manufacturing and Processing Profits Tax Reduction
- The Manufacturing and Processing Investment Tax Credit
With the province’s collaborative environment where stakeholders in industry, academia, and government all work together to facilitate projects from idea to market, Saskatchewan has helped the world’s industries bridge the gap between creation and commercialisation.
Saskatchewan’s large resource sectors offer a host of new supply chain opportunities, while our technology, aerospace, and defense clusters provide significant growth potential for innovative solutions.
Energy, mining, and advanced manufacturing products from Saskatchewan make their way to customers on every corner of the planet. With nine trade offices across the globe, Saskatchewan is truly here and around the world. All of this and more is the Saskatchewan Advantage. To learn more about it and experience it today, visit InvestSK.ca.
Please note, this article will also appear in the 22nd edition of our quarterly publication.
