Subsurface minerals bring in $3.3 million in revenue for Saskatchewan
Global News
The Saskatchewan government held its subsurface mineral public offering this November, selling 10 subsurface permit blocks covering more than 136,000.
As 2022 comes to a close, the Government of Saskatchewan is adding to its revenue with subsurface minerals.
The government held its subsurface mineral public offering this November, selling 10 subsurface permit blocks covering more than 136,000 hectares.
In total, the sales generated $3.3 billion in revenue for the province.
The highest bid was $2.7-million from Windfall Resources Ltd. for a 33,704.30 hectare block 30 kilometres 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.
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.
The next subsurface mineral public offering is scheduled for July 10, 2023.
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