Gold Production Hits Record High For 2019
Saskatchewan produced a record amount of gold in 2019. The province’s only active gold mine, the Seabee gold operation, owned by SSR Mining Inc. (SSRM), produced 112,137 ounces.
In 2019, production from the Seabee operation increased 17 per cent compared to the previous year, which marks the fourth consecutive year the Seabee operation has set a new record for gold production in the province.
“Saskatchewan has a diverse mining sector, which is responsible for a significant amount of growth and investment in our province’s economy,” Energy and Resources Minister Bronwyn Eyre said. “Congratulations to SSR Mining Inc. on its record year of production. Our government will continue to support targeted mineral exploration development and sound policy to drive our economy and ensure that Saskatchewan remains one of the best, most competitive mining jurisdictions in the world.”
The Seabee gold operation is located in Northern Saskatchewan, about 125 kilometres northeast of La Ronge. Production occurs at the Santoy underground mine, while ore processing occurs at the Seabee mill facility nearby.
“The Seabee gold operation continues to be a tremendous success thanks to our employees, supportive communities and the provincial government,” SSR Mining Chief Executive Officer Paul Benson said. “The quality partnership with all of our stakeholders continues to show that Saskatchewan is one of the premier locations in the world to operate.”
Saskatchewan’s diverse geology and mineral deposits, along with a stable government regulatory environment and targeted mineral exploration incentives, have created an attractive location for local and international mining companies.
In 2018, the Fraser Institute ranked Saskatchewan’s mining sector third in the world and first in Canada for mining investment attractiveness, out of 83 global jurisdictions. The Investment Attractiveness Index takes into account both geologic potential for minerals, as well as government mining policies. Saskatchewan also ranked second globally, tied with British Columbia, out of 99 jurisdictions in the Mining Journal’s 2019 World Risk Report.
Saskatchewan’s Growth Plan includes an objective to increase new mineral exploration over the next ten years. A commitment to reinstate Provincial Sales Tax exemptions for exploratory downhole drilling activity in the mining sector will encourage new mining exploration and investment in to the province.
The government will also continue to support the Targeted Mineral Exploration Incentive, introduced in October 2018, which is designed to encourage and increase exploration for gold, base metals and diamonds in select regions of the province.