Saskatchewan and Ontario Boost Investment in Critical Minerals Amid Projected Oil Revenue Decline

Saskatchewan's 2026-27 budget focuses on critical mineral investments, anticipating $940.9 million from potash and $721 million from oil royalties. The province aims for commercial production in copper, zinc, and lithium by 2026, supported by a $3.5-million exploration incentive. Ontario is also enhancing its critical minerals sector with support for 68 exploration projects and consultations to modernize its strategy.

Published Mar 21, 2026

Saskatchewan's 2026-27 budget highlights a shift towards critical minerals, expecting $940.9 million from potash and $721 million from oil royalties. Energy and Resources Minister Chris Beaudry noted the rising importance of critical minerals, with a focus on copper, zinc, and lithium production by 2026, supported by a $3.5-million exploration incentive.

AI-curated by Theia

The budget forecasts an increase in oil production to 600,000 barrels per day by 2030, despite lower expected global oil prices. Concurrently, Ontario is investing in its critical minerals sector, supporting 68 exploration projects to enhance economic growth and job creation.