On June 5, 2020, the government of Saskatchewan announced amendments to The Mineral Tenure Registry Regulations in response to the unique challenges faced by the mining industry due to the COVID-19 pandemic.
The amendments allow mining companies more time to meet their legislative obligations. This additional time provides mining companies with the opportunity to secure capital, carry out exploration activities and work programs, and engage with local and First Nations communities.
The amendments include:
- waiving expenditure requirements for the current term and subsequent 12 months for mineral claims and leases that were active on the March 18, 2020, State of Emergency declaration date;
- allowing expenditures incurred during the period for which relief is granted to be applied toward expenditure requirements of The Mineral Tenure Registry Regulations; and
- allowing the holder to meet requirements for refund of deficiency deposits after the relief period has ended.
The amendments apply to mining companies with northern exploration programs for Crown minerals including the following:
- cobalt; and
- rare earth elements.
MLT Aikins has significant experience advising clients in the mining and natural resource industry. Our lawyers in this practice area would be pleased to further discuss the amendments and their potential implications on your business.