Photo courtesy the Saskatchewan Geological Open House website

An event in Saskatoon this week is focusing on what makes Saskatchewan attractive for mining investment.

The 47th annual Saskatchewan Geological Open House kicked off in Saskatoon Tuesday morning. The event will provide a venue for networking, as well as presentations and discussion on several different exploration and development activities in Saskatchewan.

“This is a highly anticipated event for the mining industry, thanks to the quality of information and opportunities it creates for investment and activity,” says Energy and Resources Minister Dustin Duncan.

According to the 2015 Fraser Institute’s Survey of Mining Companies, Saskatchewan was rated first in Canada and second in the world for mining investment attractiveness.

The open house is looking to uncover some of the qualities that make Saskatchewan so attractive to mining investors.

Gary Delaney, the Chief Geologist with the Ministry of the Economy, says there are a couple reasons why this is the case.

“That Fraser Institute rating reflects two things,” he says. “Geological potential and also our policy and regulatory environment that is viewed very favourably by the mining industry.”

Delaney also says there continues to be several opportunities for mineral exploration in the province.

“The (open house) is a really important event to promote our exploration sector,” says Delaney. “We are number two in the world in uranium production, number one in potash production, but we have potential in other areas as well like gold and coal.”

The Geological Open House runs Tuesday and Wednesday at the Delta Bessborough in Saskatoon.

According to numbers from the province, the value of Saskatchewan’s mining industry in 2015 was around $8.2 Billion Dollars. Exploration expenditures during the same year were $211 million, but the province expects that to reach $224 million in 2016.