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ORE Magazine THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION $43 BILLION You’re standing on it. REAL WEALTH OUR “HAVE PROVINCE” HAS MORE THAN MOST OF US REALIZE. LEARNING TO HANDLE DEMAND WANTED: 18,000 SKILLED woRKERS. CAN WE GROW OUR OWN? POTASH: WORTH THE FIGHT ON PACE TO HIT 7 BILLION THIS YEAR, THE woRLD POPULATION DOESN’T JUST WANT POTASH. IT NEEDS IT. SPRING/SUMMER 2011 $6.95 ORE | THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION SPRING/SUMMER 2011 CONTENTS ORE is produced solely by the Saskatchewan Mining PotasH : LE ARNING Association. COVER stORY WORTH THE to HANDLE HEAD OFFICE FIGHT DEMAND Suite 1500 $43 BILLION 2002 Victoria Avenue Investing here – The world wants Education and industry Regina, Saskatchewan what we have. are working S4P 0R7 big time. together. Telephone: (306) 757-9505 Fax: (306) 569-1085 16 10 22 www.saskmining.ca Messages from Executive Director CONTACT FOR and SMA President 2 ADVERTISERS Tap Communications Inc. 505-230 22nd Street East Message From the Premier 3 Saskatoon, Saskatchewan S7K 0E9 What to Watch For 4 Telephone: (306) 373-7330 [email protected] 2011 SMA Calendar of Events 7 Real Wealth An Interview with Neil McMillan, Claude Resources 8 T The New Silk Road 26 ABLE OF Safety and the Environment: Facts and Figures 28 CON All rights reserved. The contents Our CEOs – Beyond the Bio T of this publication may not be EN Jerry Grandey, Cameco CEO 30 TS reproduced in whole or part without consent of the copyright owner. Tagging Along Mosaic’s Jessica Theriault 32 1 ORE | THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION SPRING/SUMMER 2011 ORE | THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION SPRING/SUMMER 2011 WELCOME! PREMIER’S MESSAGE A MESSAGE FROM On behalf of the Government We are expanding more than 30,500 direct of Saskatchewan, it is exploration and developing and indirect jobs, and in SMA EXECUTIVE DIRECTOr – PAM SCHWANN my pleasure to welcome our geological potential for jobs induced by the mining readers to the inaugural diamonds, rare earth metals, sector. This includes Welcome to the first story behind the mining mining industry translates issue of ORE. brines and platinum group some 2,000 direct jobs in edition of ORE, the and exploration stories that into a more vibrant and more metals. Saskatchewan has northern Saskatchewan. official publication of the appear in the daily press successful Saskatchewan. Saskatchewan is blessed one of the world’s largest In 2008, Saskatchewan’s Saskatchewan Mining – and some insider stories This is reflected in the with one of the most diverse kimberlite fields, with some value of mineral production Association (SMA). ORE as well. ORE will keep you Mission Statement of SMA, array of natural resources kimberlites exceeding a was the highest in is a magazine about informed on the projects, “Providing a foundation in Canada and indeed, the surface area of 200 hectares; Canada, with sales the people, projects the people and the issues for growth through a safe, world. The mining industry two advanced stage projects amounting to $9.7 billion. and issues related to affecting our industry. This responsible mining industry.” commands a large role in are underway. Exploration, After a down year in 2009, the Saskatchewan information comes straight Canada’s economic theatre which leads to new finds our mineral sales show mining industry. from the source: our Editorial In 2008, 1 in 16 working and Saskatchewan has taken and is considered as a key every sign of resuming Committee is selected from Saskatchewanians centre stage. We have 53 per research and development a record pace in 2010. Now in its 45th year, our member companies. were employed directly, cent of the world’s potash component of the mining SMA is an industry- indirectly or through resources and the globe’s industry, has reached record Our government values funded organization ORE has been created related employment by highest-grade uranium levels of investment in recent the excellent working consisting of members not just for the benefit of the Saskatchewan mining deposits. For potash, more years. Mineral exploration relationship we have with of the major producing industry. The growth of both industry; this ratio is than $12.2 billion worth of spending intentions in the Saskatchewan Mining mining and exploration mining and exploration in increasing. Whether you expansions to existing mines 2010 were estimated at Association. We are companies operating Saskatchewan is such that are part of the mining have been announced, with approximately $355 million. sure you will find ORE a in Saskatchewan. practically every business, industry or just interested these projects scheduled valuable information tool We are “the Voice of organization and member of in what the Saskatchewan for completion by 2020. Mining is Saskatchewan’s for your organization. the Saskatchewan the public will in some shape mineral industry is doing, Saskatchewan also produces third largest industry after Mining Industry.” or form be affected by this I trust you will find ORE an impressive array of oil and natural gas, and growth. As we are seeing first- informative and engaging. minerals including gold, agriculture; and, contributes ORE brings you the hand, a vibrant, successful coal, salt, silica sand, clays over $3 billion annually in and sodium sulphate. wages, goods and services, Brad Wall taxes and fees. It supports Premier A MEssAGE FROM SMA PRESIDENT – KELVIN DERESKI The Saskatchewan mining importance of Saskatchewan As President of SMA, I am industry has certainly as a significant player in the excited to be writing this been in the spotlight this Canadian and global mining column in the inaugural past year. It seemed that scene, and of our edition of ORE. I consider it to every day there was at world-class potash and be a very significant milestone least one story in local, uranium mines that are for the Saskatchewan provincial or national media integral to providing mineral industry, its service about the Saskatchewan Saskatchewan and the sectors and the vibrant mining industry. Whether global population with a communities that support the stories focussed better quality of life. our industry. As we like to on potential takeovers, say, “Mining is Great for expansion and greenfield As we head into the second Saskatchewan” – to which mining investment, decade of the 21st century, we can add “and the World.” potash, uranium, gold, Saskatchewan is clearly clean coal, promising realizing its potential. While To our member companies mineral exploration people in the industry and the important industries results, royalties, have long understood that that service our operations, environmental legislation, Saskatchewan was the place I encourage you to put your E S or Saskatchewan’s to be if you were looking for full support behind ORE. D I T leading economic growth, world-class deposits, the As the official publication of ORIAL ORIAL the Saskatchewan general population across SMA, ORE is the primary T I D mineral industry was Canada is now coming communication vehicle that S E the media darling. There to this realization. will enable SMA to profile was an unquenchable As Premier Brad Wall industry issues for the benefit thirst for information recently noted, Saskatchewan of our industry. This is your 2 on our industry. The is no longer the place to be magazine – embrace it, 3 stories underscored the from; it is the place to be. enhance it and enjoy it. ORE | THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION SPRING/SUMMER 2011 ORE | THE OFFICIAL PUBLICATION OF THE SASKATCHEWAN MINING AssOCIATION SPRING/SUMMER 2011 WHAT TO WATCH FOR This regular section of ORE highlights trends, developments and initiatives to note in the coming months. CLEAN COAL IN NEW DEVELOPMENts SASKATCHEWAN Expect further news about the BHP Jansen Project (potash) and Shore Gold’s joint Star-Orion diamond project. SaskPower’s investment in upgrading the Boundary Dam Power Plant is laying the groundwork for greener energy in Saskatchewan. The decision also signals that Saskatchewan coal will continue to be the BUILDING THE CASE dominant low-cost, reliable contributor to the province’s energy portfolio in the future. Work will begin on the FOR A MINING CENTRE plant in 2011, with construction slated for 2012. As a world-leading mineral producing jurisdiction, Saskatchewan is well-positioned to also be a leader in mineral education, training, research and innovation. A proposed mineral research and training centre at the U of S would be, THE DEBATE OVER A “a provincial centre where post-secondary institutions will be NATIONAL SECURITIES able to work and collaborate with government, industry and the community.” Development of a business case is already REGULATOR underway and is expected to be completed in early 2011. Saskatchewan has joined with Alberta, Manitoba and Quebec in formally registering its opposition to the formation of a National Securities Regulator. What would a National Securities Regulator mean for M&A Saskatchewan’s exploration and mining industry? (MERGERS & ACQUISITIONS) 2010 saw the world watching as BHP Billiton launched an unsuccessful $39 billion takeover of PotashCorp. On WE’RE NUMBER ONE!(?) the heels of this decision K + S Aktiengesellschaft of Saskatchewan is among the top exploration and mineral Germany, a long-time producer of potash, successfully producing jurisdictions in Canada. How high can we go? completed a friendly $434 million acquisition of Potash One. In January 2011, zinc-copper producer HudBay Minerals Inc. proposed the acquisition of Norsemont Mining Inc. With favourable potash, uranium, 2011 SASKATCHEWAN gold and copper markets ahead, will there be more mergers and acquisitions involving Saskatchewan LABOUR MARKET exploration and mining companies in 2011? SURVEY RESULTS The 2008 Saskatchewan Mining Labour Market Survey has been updated, and customized to include specifically GOLD! the economic outlooks for potash and uranium.
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