Government to Provide Relief Measures for Mining Industry
As Mining Week concludes, the Government of Saskatchewan has announced amendments to The Mineral Tenure Registry Regulations that grant relief to the mining sector in response to impacts from the COVID-19 pandemic. These amendments will provide mining exploration companies more time to raise necessary capital and access mine sites to carry out exploration activities, work programs and engage with local and First Nations communities.
“Our government recognizes the unique challenges that the mining sector has faced during the past few months,” Energy and Resources Minister Bronwyn Eyre said. “Exploration constitutes the research and development of mining, and these measures provide companies more time to do that important work and to participate in our province’s economic recovery.”
The following amendments have been implemented:
- Waiving expenditure requirements for the current term and subsequent 12 months for mineral claims and leases that were active on March 18, 2020, State of Emergency declaration date;
- Allowing expenditures incurred during the period for which relief is granted to be applied toward expenditure requirements of The Mineral Tenure Registry Regulations; and
- Allowing the holder to meet requirements for refund of deficiency deposits after the relief period has ended.
“Our exploration members are very grateful for the relief the Saskatchewan government has provided to Saskatchewan explorers,” Saskatchewan Mining Association President Pam Schwann said. “It will further enhance Saskatchewan’s reputation as a destination for mineral exploration investment.”
These amendments apply to northern exploration programs for all Crown minerals including uranium, diamonds, gold, copper, zinc, cobalt and rare earth elements. The relief measures come at no cost to the government, but allow companies to hold on to dispositions previously obtained.
For further information, companies can contact the Ministry of Energy and Resources Service Desk at 1-855-219-9373, or [email protected].