November Subsurface Mineral Public Offering Brings in $3.3 Million for Province
Increased Interest in Lands Prospective for Lithium and Potash
The Government of Saskatchewan’s subsurface mineral public offering held on Monday, November 21, 2022, generated $3,325,130.13 in revenue for the province.
This is the second of three scheduled subsurface mineral public offerings for the 2022-23 fiscal year. As the June 2022 sale did not receive any bids on the parcels posted, and no parcels were requested for the February 2023 sale, the November sale is effectively the final and only sale of the fiscal year to generate revenue.
Fifteen (15) subsurface permit blocks totalling 153,335.43 hectares were posted in the November 2022 public offering. Ten (10) of these subsurface permit blocks, covering 136,466.373 hectares received acceptable bids.
The highest bid was $2.7 million from Windfall Resources Ltd. for a 33,704.330 hectare block 30 kilometers (km) north of Moose Jaw that is prospective for potash.
The highest dollars per hectare bid was for a parcel 11 km south of Kerrobert that is prospective for minerals in formation water such as lithium. The permit, acquired by NRG LandSolutions Inc., received a bid of $102.65 per hectare for a total of $159,928.70.
Increased demand and activity in critical minerals, such as potash and lithium, is leading to heightened interest to explore for and develop these minerals. Critical minerals are considered essential for the sustainable economic success of Canada.
The next subsurface mineral public offering is scheduled for July 10, 2023.
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