Saskatchewan’s uranium and potash industries hit all-time highs in 2024, fuelled by rising global demand and increased resource development, according to new provincial figures.
Uranium sales totalled $2.6 billion last year, surpassing the province’s 2030 Growth Plan goal of $2 billion well ahead of schedule. Annual production also reached a record 16,700 tonnes, a 28% increase over 2023.
“The strong growth of our world-class uranium industry is great news for Saskatchewan,” said Energy and Resources Minister Colleen Young. “With our abundant, high-quality reserves, and stable regulatory approach, our government is very optimistic about Saskatchewan’s growing role in global energy security.”
Young said production is expected to continue rising, with the McClean Lake mine set to resume operations and other major projects nearing construction.
Uranium exploration spending is also booming, estimated at $200 million in 2024. That figure is expected to remain strong into 2025 and could help Saskatchewan reach its Critical Minerals Strategy goal of capturing 15% of all Canadian mineral exploration spending — a target originally set for 2030.
Meanwhile, Saskatchewan potash production also broke records, with 15.1 million metric tonnes potassium oxide (K2O) produced in 2024 — an 8% rise from 2023. The province remains the top global potash producer, supplying roughly one-third of the world’s supply.
Saskatchewan is the world’s second-largest uranium producer and home to the highest-grade uranium deposits on Earth, located in the Athabasca Basin. The sector employs more than 3,400 people and supports local businesses through hundreds of millions of dollars in procurement.
