The Government of Saskatchewan is thrilled to announce groundbreaking support for a new mining venture! The Critical Minerals Processing Investment Incentive (CMPII) will aid in the development of the McIlvenna Bay mine, operated by Foran Mining Corporation. Expected to commence commercial production in mid-2026, this project promises to be a significant boon for the province.

So, what’s the buzz about? The CMPII initiative, launched in 2024, is specifically designed to encourage processing projects for critical minerals like copper and zinc—the real stars of the show! With the McIlvenna Bay project producing concentrates on-site, Saskatchewan is set to spotlight its rich natural resources.

Energy and Resources Minister Colleen Young expressed, “It is incredibly exciting to see this critical minerals project come to life in Saskatchewan.” The McIlvenna Bay project, with a whopping capital investment of over $1 billion, includes an underground mine, alongside a processing facility capable of handling nearly 5,000 tonnes of ore daily. That’s some serious production!

Moreover, Saskatchewan is not just any place; it's Canada’s top region for mining investment, and we’ve got 27 out of the 34 critical minerals on our radar. From potash to helium, the province is making waves in the mining industry! The CMPII and its sibling, the Saskatchewan Critical Minerals Innovation Incentive (SCMII), are pivotal in inviting innovations and doubling the respective production of these resources by 2030.

All in all, the Saskatchewan mining scene is experiencing thrilling changes, bringing long-term job opportunities and economic growth. Stay tuned as we continue to follow these exciting developments!