August 26, 2021

Subsurface Mineral Public Offering Raises $1.8 Million

The Government of Saskatchewan's August subsurface mineral public offering raised $1,796,960.62 in revenue.

Sixty-four (64) subsurface mineral permit blocks totaling 140,416.87 hectares were posted in the Estevan/Weyburn area.  Of the parcels posted, 41 received acceptable bids which covered 98,616.66 hectares.

The highest bid received in this public offering was $216,559.34 from NRG Solutions Inc. for a 6,152.25 hectare block located 19 km southwest of Torquay.  The land is prospective for brine minerals such as lithium.

NRG Solutions Inc. also acquired the most land with bids totaling $907,175.79 for 13 permits covering 45,849.66 hectares.

Subsurface minerals dissolved in subsurface geological formation waters are commonly referred to as brine minerals.  Lithium is a sought after brine mineral due to its use in lithium ion batteries.

To date, the 2021-22 subsurface mineral public offering has raised over $4.2 million in revenue for the province.

The third and final subsurface mineral public offering for the year is scheduled for December 13, 2021.