Sask. copper mine one of five major projects announced by Carney

Bill C-5, which moved through Parliament at lightning speed in the spring, is meant to streamline and speed up approvals for large infrastructure projects as the federal government looks to shore up Canada’s economy against the tariff hits from the United States.

The mine is expected to begin commercial production in mid-2026 and create 400 new jobs.

Foran, the company that owns the McIlvenna Bay mine, is looking to make the mine the first carbon-neutral copper project in Canada through the use of battery electric vehicles, heat recovery and water recycling programs. The federal government previously suggested the mine could become “a blueprint for responsible and sustainable mining.”

Ottawa also claims this project would strengthen Canada’s position as a global supplier of critical minerals for clean energy and other modern infrastructure.

The federal government announced a $41-million investment in Foran’s green expansion plans earlier this year.

Saskatchewan government helps project

The Government of Saskatchewan’s Critical Minerals Processing Investment Incentive (CMPII) will also support the development of the mine.

On Thursday, Foran announced it has been approved to earn up to $70 million in transferable royalty tax credits through the Government of Saskatchewan’s CMPII, administered by the Ministry of Energy and Resources.

“It is incredibly exciting to see this critical minerals project come to life in Saskatchewan,” Energy and Resources Minister Colleen Young said.

According to the government, the project represents a total capital investment of more than $1 billion, consisting of an underground copper, zinc, gold and silver mine as well as an above-ground processing facility.

In a statement, Foran’s Chief Financial Officer James Steels said he’s grateful for the government’s continued support of the project.

“This innovative program is a strong example of the province’s commitment to responsible resource development that underpins Saskatchewan as Canada’s leading jurisdiction for mining investment,” he said in a statement.

The CMPII is one of two new government programs aimed at increasing provincial production, supporting 11 designated critical minerals.

Tensions were high at the project site as the Wolf Fire raged nearby. (Foran Mining Corporation YouTube/screenshot)

Construction 50 per cent done amidst wildfire threat

In a release on Aug. 26, Foran Mining Corporation was pleased to announce a major milestone in construction, reaching 50 per cent completion.

The project remains on budget and on schedule with targeted completion set for mid-2026, according to Foran.

During construction for the project, wildfires raged nearby.

At the end of May, The Wolf Fire, west of Denare Beach, was 6,385 hectares large. It forced the evacuation of the McIlveena Mine Site.

While there was no material impact on the project, teams worked quickly to ensure the safety of workers on site and the project itself.

According to Foran, construction continued without delay.

–With files from The Canadian Press

by CJME

Sask. copper mine one of five major projects announced by Carney

Saskatchewan government helps project

Construction 50 per cent done amidst wildfire threat

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