Saskatchewan’s mining sector set some new records last year.
A year-end report from the provincial energy and mines department pegged 2024 uranium production in Saskatchewan at nearly 17,000 tonnes – an increase of almost 30-percent over the previous year. More simply, the value of that output hit $2.6 billion which is not only a new record but 30-percent higher than the province’s long-term growth objective of seeing uranium sales hit $2 billion by the end of this decade.
Growing international demand for nuclear power as an alternative to coal-fired electrical generation has put a lot of wind in the sail of Saskatchewan’s industry. Not only has production from existing mines risen, spending on exploration of new uranium deposits hit $200 million last year, principally in the Athabasca Basin which is the world’s richest uranium host.
Further south, the province’s potash industry also hit record output territory in 2024, reaching 15 million tonnes, an eight-percent increase over 2023.
As the world’s population continues to rise and demand for clean power increases, it is clear that global demand is increasingly lining up with Saskatchewan’s asset base.
