Saskatchewan’s uranium and potash industries set production records in 2024

Saskatchewan’s potash and uranium industries broke records for production in 2024, while the province’s uranium industry also set a new sales record.

According to the Saskatchewan Ministry of Energy and Resources, uranium production reached a new record high of 16.7 thousand tonnes last year, representing an increase of 28 per cent over 2023, and uranium sales also reached a new high of $2.6 billion.

Read More:

“The strong growth of our world-class uranium industry is great news for Saskatchewan,” Colleen Young, the province’s energy and resources minister, said in a statement.

“With our abundant, high-quality reserves and stable regulatory approach to resource development, our government is very optimistic about Saskatchewan’s increasing role in global energy security in the coming years. We expect uranium production will continue to rise with the McClean Lake mine resuming operations this year and other major projects approaching construction.”

Saskatchewan’s uranium industry employs more than 3,400 people, the provincial government noted, and procures “hundreds of millions of dollars in goods and services” from businesses based in the province.

Last year’s uranium exploration spending was an estimated $200 million, the ministry added, and is “expected to remain strong in 2025.”

Meanwhile, potash production in the province also reached a new record high in 2024, the ministry said, producing 15.1 million metric tonnes. That figure represents an eight per cent jump over 2023.

“Saskatchewan is the world’s leading potash producer, accounting for approximately one-third of global production,” the ministry noted in a statement.

“Saskatchewan is the world’s second-largest producer of uranium and has the largest high-grade uranium deposits in the world in the Athabasca Basin.”