Firms Continue To Pour Money Into Mineral Search

Firms Continue To Pour Money Into Mineral Search

Monday, March 06, 2006 at 13:57

The mineral exploration boom in Saskatchewan shows no sign of letting up.

The provincial government says preliminary estimates indicate that roughly $194 million will be spent by firms searching for minerals this year.

Last year, exploration companies spent $150 million.

Just three years ago, the figure was only $31 million.

Rising market prices for uranium and a growing interest in diamonds are behind the increased activity.

Industry Minister Eric Cline says the provincial government is encouraging dialogue between employers looking for local services and communities and businesses looking to benefit from the increased activity.

Saskatchewan reached a record $3.5 billion in mineral sales last year.