The demand for lithium helped generate $1.2 million for the Saskatchewan government in a recent public offering.
The provincial government held a subsurface mineral public offering Monday and it resulted in $1,231,014 in bids. Ten subsurface permit blocks totalling 3,330 hectares were posted, and each one sold.
The Hub City Lithium Corporation — a joint venture between Regina-based ROK Resources Incorporated and EMP Metals Corporation — acquired nine permits covering 2,292 hectares of land. All nine were in the Stoughton area and were prospective for lithium in formation water.
The highest bid was $894,684 from Hub City Lithium for a 1,192-hectare block five kilometres southwest of Stoughton. The company bid a total of $1,218,045 for the nine permits it got.
Prairie Land & Investment Services Limited put up $12,968 for one permit totalling 1,037 hectares six kilometres southeast of Kerrobert. That permit also was prospective for lithium.
This is the second of three scheduled subsurface mineral public offerings for the 2023-24 fiscal year. The next one is scheduled for Feb. 12.
Saskatchewan could become a hotbed for rare earth production, with demand rising for rare earth minerals that can create powerful magnets to be used in things like wind turbines, smartphones and electric vehicles.