New Copper & Zinc Mine to Boost Saskatchewan’s Critical Minerals
October 23, 2025
Foran’s McIlvenna Bay Mine: Saskatchewan Continues to Work Toward Establishing Hub for Rare Earth Elements (REE) as Part of Its Critical Minerals Strategy
On October 15, Energy and Resources Minister Colleen Young visited Foran Mining Corporation’s (Foran) Exploration Warehouse in Saskatoon. Foran’s McIlvenna Bay mine in northeastern Saskatchewan is expected to begin production of copper and zinc at a commercial scale in mid-2026.
McIlvenna Bay is a key project for the diversification of Saskatchewan’s mining sector and is playing an important role in working toward the goals detailed in the province’s Critical Minerals Strategy.
“Foran’s copper and zinc mine will contribute to Saskatchewan’s economic growth and provide sustainable career opportunities for people in the north,” Colleen Young said. “Saskatchewan is Canada’s largest primary producer of critical minerals, and this project further enhances and diversifies our position as a leading supplier of the minerals that are essential for modern economies around the world.”
McIlvenna Bay mine represents a capital investment of more than $1 billion. The project will produce copper, zinc, gold and silver over an initial 18-year mine life. The Government of Saskatchewan is supporting the project through the Critical Minerals Processing Investment Incentive, which is designed to drive investment and new production in the province’s critical minerals sector.
“Saskatchewan continues to stand out as one of the best mining jurisdictions in the world for good reason,” Foran Executive Chairman and CEO Dan Myerson said. “From permitting and exploration supports to funding programs and policy collaboration; this government has been a reliable and forward-thinking partner unlike any other. Our strong relationship with the province has been instrumental in Foran’s success to date, and programs like the Critical Minerals Processing Investment Incentive are game changers that allow us to build McIlvenna Bay while continuing to explore for the next generation of critical mineral deposits. Together, we are helping to build a more sustainable, innovative, and prosperous future for Saskatchewan.”
Securing the Future: Saskatchewan’s Critical Mineral Strategy was introduced in 2023. One of the strategy’s key goals was to double the number of critical minerals produced in Saskatchewan from three to six. With McIlvenna Bay and Prairie Lithium’s extraction facility both coming into production over the next year, Saskatchewan is on track to reach that goal through the sustained production of potash, uranium, helium, copper, zinc and lithium.
Other goals from the Critical Minerals Strategy are also being achieved. For example, exploration spending in Saskatchewan is projected to reach $408 million in 2025 and surpass the target of Saskatchewan accounting for 15 per cent of all Canadian exploration spending. The Critical Minerals Strategy also set a goal to grow production of potash, uranium and helium. All of these industries saw record production in 2024.
“Saskatchewan is a world leader in mining investment attractiveness, driven by diverse mineral resource potential, and a supportive policy and regulatory framework that provides predictability,” Saskatchewan Mining Association President Pam Schwann said. “Foran’s McIlvenna Bay mine will mark the resumption of copper and zinc production in Saskatchewan in over 20 years and the first new base metal mine in Canada in over a decade, supplying the critical minerals that power clean energy, advanced manufacturing, and modern infrastructure.”
Saskatchewan continues to work toward establishing Saskatchewan as a hub for Rare Earth Elements (REE), which is the fourth goal in the Critical Minerals Strategy. The Saskatchewan Research Council’s Rare Earth Processing Facility will be commissioned in phases, beginning in 2026 and moving into full operations in 2027. At that point, the facility will be one of the first, if not the first, plants of this scale to come online in North America.
For more information on Saskatchewan’s Critical Mineral Strategy HERE
