Protecting Saskatchewan's Strong Energy and Resource Sectors

CANADA, March 19 - Released on March 18, 2026

The 2026-27 Provincial Budget strengthens Saskatchewan's position as one of the top jurisdictions in the world for resource development. 

"This budget makes strategic investments in our energy and mining sectors so they can continue to grow their industries, create good jobs and power economic growth in our province," Energy and Resources Minister Chris Beaudry said. "Our government will continue to be a strong supporter of our world class resource sectors, which are key to our province's future and our commitment to protecting Saskatchewan." 

This year's budget includes $2.3 million for the third year of the Saskatchewan Geological Survey's (SGS) Public Geoscience Initiative. This investment will improve access to new, high-quality geoscience information to encourage mineral exploration and promote new critical mineral discoveries. The Public Geoscience Initiative is a $10 million commitment by the Government of Saskatchewan that spans over 10 years. 

The budget also provides $3.5 million for the continuation of the Targeted Mineral Exploration Incentive (TMEI), a key program designed to grow and diversify Saskatchewan's mining sector and drive mineral exploration activity. In 2025, Saskatchewan exploration expenditures are estimated to have reached 17 per cent of the Canadian total, which would surpass the Critical Mineral Strategy goal of reaching 15 per cent of national exploration expenditures by 2030.

The High Water-Cut Oil Well Program is extended in this budget to support oil production and contribute to reaching Saskatchewan's goal of 600,000 barrels per day by 2030. In alignment with the Saskatchewan Growth Plan, this program encourages capital investment and extends the life of existing oil wells.

With budget 2026-27, the modernization of Saskatchewan's timber royalty system will come into effect. These changes will align the timber royalty system with other resource royalty structures in Saskatchewan and ensure the industry remains competitive with other jurisdictions. The modernized timber royalty system will support the forestry industry in meeting Saskatchewan's Growth Plan goal to double the size of the forestry sector by 2030.

Saskatchewan's world-leading natural resource sectors, competitive exploration incentives and clear regulatory framework make it Canada's premier destination for investment. The Fraser Institute recently ranked Saskatchewan as the third-best jurisdiction in the world for mining investment attraction. The 2026-27 Budget will enable the Saskatchewan Government to continue to provide health, safety and social services to residents, while ensuring the continued strength of our economy and the sustainability of our energy and resource industries.

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