Top academic institutions in Saskatchewan have collaborated to establish a new school for the mining and energy industries, a move praised by the province’s premier.
On Wednesday, the Government of Saskatchewan announced that the University of Regina, Saskatchewan Polytechnic (SP) and the University of Saskatchewan had signed a memorandum of understanding to create the Global Institute for Energy, Mines and Society.
The agreement was signed at the COP28 conference on climate change in Dubai, United Arab Emirates. The government says the aim of creating the school is to provide the three partner institutions with an effective means of collectively conducting innovative research in the mining and energy sectors.
“Our province is quickly becoming a leader in mining and energy innovation, and this new institution will add to our already impressive portfolio of research organizations,” said Scott Moe, Premier of Saskatchewan.
The school will provide training and experiential learning opportunities to tradespeople, engineers and scientists.
“With the mining and energy sectors such a crucial part of Saskatchewan’s economy and global demand for critical minerals continuing to grow, Saskatchewan Polytechnic is excited to join our partners in signing this MOU,” said SP’s President and CEO, Larry Rosia.
The province has held panel discussions at the COP28 conference, including Saskatchewan Trade and Investment Opportunities by the Ministry of Trade and Export and Pioneering Microreactors in Saskatchewan by Westinghouse Electric and the Saskatchewan Research Council.
“Sustainably Powering the Future: Saskatchewan Uranium” was another held by Premier Moe and others on Tuesday.
📢 It's an MOU from UAE!#UofRegina is proud to be joining our partners at @USask and @SaskPolytech in signing a groundbreaking agreement at #COP28, establishing a new #Saskatchewan-based institution called the Global Institute for Energy, Mines and Society.
This new… pic.twitter.com/5l3ZXBv5cq
— University of Regina (@UofRegina) December 6, 2023
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Saskatchewan: a major influence in the uranium industry
Canada’s Fraser Institute ranked Saskatchewan as the country’s top mining jurisdiction last year. The province produces 23 out of 31 critical minerals on Canada’s list, but is particularly known for having the world’s largest supply of potash and an abundance of uranium.
The World Nuclear Association says the province was the second largest producer of uranium last year, dwarfed only by Kazakhstan. Uranium sales in the province generated almost $1 billion in 2022 and the province generated a record amount of gold last year too, the largest quantity in almost 30 years.
The top uranium producers in the province and country are Cameco Corporation (TSX: CCO) (NYSE: CCJ) and Orano Canada. The vast majority of Canada’s uranium is produced in Saskatchewan.
Early last month, the provincial government gave full environmental authorization to the Rook I project run by NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) in the Athabasca Basin. Saskatchewan had not given Provincial Environmental Assessment approval to a uranium project in the province in over 20 years, marking a significant milestone.
NexGen says the mine will be capable of supplying 23 per cent of the world’s uranium once it is operating at full capacity. The Athabasca Basin hosts the highest-grade uranium mining operations in the world and is still largely underexplored.
Workers at the Rook I project in the Athabasca Basin. Photo via NexGen Energy
Other significant influences and junior explorers in Canada’s uranium industry include Uranium Energy Corporation (NYSE American: UEC), IsoEnergy Ltd. (TSX‐V: ISO), Cosa Resources Corp. (TSX-V: COSA) (OTCQB: COSAF), Fission Uranium Corp. (TSX: FCU) (OTCQX: FCUUF) and ATHA Energy Corp. (CSE: SASK) (OTCQB: SASKF) (FRA: X5U).
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