Post by Catdaddy on Feb 15, 2008 9:40:19 GMT -5
Last updated at 4:44 PM on 14/02/08
Mining is doing well in Saskatchewan: SMA head
www.paherald.sk.ca/index.cfm?sid=108482&sc=4
THERESA SERAPHIM
The Prince Albert Daily Herald
Saskatchewan is “a great province for mining,” and that includes the Fort a la Corne diamond exploration area, the director of the Saskatchewan Mining Association told those at a Business Builders Luncheon on Thursday.
Pam Schwann said $200 million has been spent on exploration at Fort a la Corne within the past three years — with production expected to commence in 2011 — and the diamonds found so far at the Star site are valued at $170 per carat.
Shaft sinking is taking place on the Orion South site, as well, said Schwann.
She said the 2008 exploration budget for the Star site is $94.7 million, while that of the Orion South site is $86.8 million.
Staking activity at Fort a la Corne has gone up from 2,012 claims involving 710,000 hectares in 2003, to 2,600 claims involving 2.5 million hectares in 2007, said Schwann.
Schwann said the timing is good for Saskatchewan mining — not only for diamonds, but for other commodities such as uranium, potash, and gold — for one simple reason: “the world demand is greater than the world supply.”
This is reflected in the fact that in 2007, 15 million hectares of Saskatchewan land were under exploration, compared to 2.3 million in 1992 and 12 million in 2006, said Schwann.
In fact, she said, “Saskatchewan was the number one jurisdiction in Canada for Greenfield (new mine) mining and exploration” in 2006 and 2007. The $277 million spent on exploration last year was 12 times the $23 million spent in 2001.
Junior companies account for 60 per cent of the money put into exploration, which, said Schwann, is significant because such companies have no money coming in except via stock prices.
Projects such as Fort a la Corne play a vital part in the mining part of the economy.
“We’re fueling the world through uranium, feeding the world through potash and fashioning the world through diamonds.”
14/02/08
Mining is doing well in Saskatchewan: SMA head
www.paherald.sk.ca/index.cfm?sid=108482&sc=4
THERESA SERAPHIM
The Prince Albert Daily Herald
Saskatchewan is “a great province for mining,” and that includes the Fort a la Corne diamond exploration area, the director of the Saskatchewan Mining Association told those at a Business Builders Luncheon on Thursday.
Pam Schwann said $200 million has been spent on exploration at Fort a la Corne within the past three years — with production expected to commence in 2011 — and the diamonds found so far at the Star site are valued at $170 per carat.
Shaft sinking is taking place on the Orion South site, as well, said Schwann.
She said the 2008 exploration budget for the Star site is $94.7 million, while that of the Orion South site is $86.8 million.
Staking activity at Fort a la Corne has gone up from 2,012 claims involving 710,000 hectares in 2003, to 2,600 claims involving 2.5 million hectares in 2007, said Schwann.
Schwann said the timing is good for Saskatchewan mining — not only for diamonds, but for other commodities such as uranium, potash, and gold — for one simple reason: “the world demand is greater than the world supply.”
This is reflected in the fact that in 2007, 15 million hectares of Saskatchewan land were under exploration, compared to 2.3 million in 1992 and 12 million in 2006, said Schwann.
In fact, she said, “Saskatchewan was the number one jurisdiction in Canada for Greenfield (new mine) mining and exploration” in 2006 and 2007. The $277 million spent on exploration last year was 12 times the $23 million spent in 2001.
Junior companies account for 60 per cent of the money put into exploration, which, said Schwann, is significant because such companies have no money coming in except via stock prices.
Projects such as Fort a la Corne play a vital part in the mining part of the economy.
“We’re fueling the world through uranium, feeding the world through potash and fashioning the world through diamonds.”
14/02/08
