Saskatchewan’s standing as a player in the lithium field continues to grow. The latest development is nearly $6 million for the right to explore for this critical mineral in the province.
The provincial government has a long-established policy of auctioning off the rights to drill for oil and gas on properties. It usually lists properties six times a year and industry can bid for the right to acquire those rights.
But lately the government has added some new product lines to their auction platform, minerals such as helium and lithium which are found deep below the surface.
The latest lithium auction went this week, the first of three to be staged in this fiscal year. And it attracted $5.9 million in revenues for the government as industry players directed the bulk of their capital to the region east of Weyburn in the Stoughton-Arcola area. And one large track in the Kerrobert district was also sold.
The push for electric cars and more powerful batteries has significantly increased lithium values, prompting players in this province to identify supplies and to develop extraction technologies.
