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.