Brian Zinchuk is editor and owner of Pipeline Online
Cannington MLA Daryl Harrison, legislative secretary for Energy and Resources. Photo by Brian Zinchuk
The Saskatchewan Industrial Mining Suppliers Association (SIMSA)’s 9th annual Energy Suppliers Forum, held in Regina on Oct. 4, was supported in large part by the Government of Saskatchewan.
Darryl Harrison, legislative secretary for Energy and Resources, addressed the conference on behalf of the Province of Saskatchewan, touching on oil and gas, potash, uranium, helium and more.
Here is Harrison’s speech, verbatim:
On behalf of Premier Scott Moe, the Honorable Jim Reiter Ministry of Energy and Resources and the government of Saskatchewan. It is my pleasure to welcome you all here today to the Saskatchewan Energy Suppliers Forum. Our government is pleased to join with the Saskatchewan Industrial Mining Suppliers Association to host this great event. It is great to see so many of Saskatchewan energy and mining companies here today, along with the service providers that support the provincial resource sector.
Thank you all for taking the time to be here, and for your important work in industries that are crucial to our province’s economy. The Government of Saskatchewan recognizes the contributions you all make. We stand with you in ensuring Saskatchewan’s resources are responsibly produced for many, many years to come.
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Energy and mining are key economic drivers for Saskatchewan, making up 26 per cent of our provincial GDP last year. Mining generated $19.5 billion in sales in 2022, the highest level ever recorded in Saskatchewan. Last year also saw the combined value of oil and gas production reach approximately $17 billion. We expect these numbers to continue growing as we look to reach our growth plan targets by 2030. These goals include growing production in our potash, uranium and oil and gas sectors, plus doubling our forestry growth.
Our government is confident that we’ll get there, thanks to our world-class resources and favorable global market conditions for Saskatchewan resources. Coupled with our commitment to supporting responsible development, last year, Saskatchewan led the nation in GDP growth at 5.7 per cent. The Conference Board of Canada is predicting we will be among the country’s growth leaders this year, too, thanks to gains in potash and uranium production. And our province’s mining and energy sectors are flourishing. They drive economic growth and support tens of thousands of jobs for our province’s hardworking people.
Potash
Our world-leading potash sector is a great example. Last year, we began a new record for potash sales value, reaching $17.9 billion, at 137 per cent gain. We expect sales volumes to continue for 2023 and beyond. We have seen commitments to expand production from all producers, plus BHP developing its Jansen mine. Thanks to BHP’s multibillion dollar investment, several local firms are already landing valuable jobs on the ground – metal manufacturing, security contractors and other service providers as well.
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Uranium
We are seeing growth in other areas, too. Our uranium industry continues to grow. It is the second largest global producer of yellowcake, second only to Kazakhstan. In a few moments we will hear from His Excellency Ambassador D. Kussainov, who brings greetings from Kazakhstan.
“Our province’s high grade deposits, and world class industry partners keep Saskatchewan poised to lead the way for uranium production the world is looking for to meet its nuclear power generation, as clean nuclear power generation, and Saskatchewan is ready to meet that demand.
Helium
Our government’s helium action plan continues bringing us results. Last year, helium production increased 79 per cent, to 2.4 million cubic meters. We are pleased with this sector’s growth. A secure domestic supply of helium is vital to health care, and manufacturing.
Meanwhile, new developments in copper, lithium bio energy and rare earths are delivering our resource sector and strengthening the provincial economy. We are committed to ensuring Saskatchewan’s natural resources continue to grow and thrive. That’s why we’re always looking to give a competitive leg up to our industry partners.
This past year our government expanded two key incentive programs. We tripled the mineral exploration tax credit to 30 per cent for exploration firms, and the targeted mineral exploration incentive jumped to $4 million, with eligibility for all hardrock minerals across the entire province. These expansions will further reduce investor risk and encourage more investment.
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Carbon capture
We also recognize the importance of carbon capture utilization and storage at technology in which Saskatchewan is a world leader. Whitecap Resources is showing how carbon capture can be used for enhanced oil recovery. It extends the life of wells, and reduces per barrel emissions.
Saskatchewan is one of the premier destinations in the world for resource development, the fifth largest onshore oil producer in North America. The Fraser Institute ranks us as the most attractive Canadian jurisdiction for oil and gas investment, and second most attractive global jurisdiction for mining investment. None of this would be possible if it wasn’t for everyone gathered here, today, in this room.
We are the best place in Canada to develop natural resources. In light of the war in Ukraine and global supply challenges, this has never been more important. Thank you all for being here, for your work in Saskatchewan is resource sector. It leads to jobs, wealth, and opportunity for the people of Saskatchewan. Thanks again, to the Saskatchewan Industrial Mining Suppliers Association, suppliers association for organizing this event.
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