New mineral rights auction system will help Sask. compete, says province

A new competitive auction process for mineral rights is coming to Saskatchewan.

The province will be holding its first ever Subsurface Mineral Rights Public Offering in December.

The system is similar to the process for oil and gas tenure, but this process applies to mineral exploration and development.

The Government of Saskatchewan said in a press release that the change will help the province compete with other mining jurisdictions.

Auction winners will be able to explore for minerals more than 60 metres below land surface.

After the first public offering in December, subsequent offerings will be held each April, August and December.

Saskatchewan has one of the largest deposits of potash in the world. Minerals like lithium, which is used in batteries, can also be extracted from brine. Other natural mineral salts found in Saskatchewan include calcium, magnesium, and phosphorus.