Saskatchewan’s finance minister is expressing a mixed response to the federal government’s first five projects under consideration for fast-track approval through a new major projects office.

Prime Minister Mark Carney last week announced the five projects — including Foran Mining Corp.’s McIlvenna Bay copper and zinc mine in Saskatchewan — under consideration for fast-track approval. Each of them are viable projects “in the national interest,” Carney said, adding that Ottawa’s new major projects office intends to “move quickly” so that the projects can move forward.

“While we are pleased to see some projects selected, including the Foran Copper Mine in Saskatchewan, I think most Canadians were expecting a more ambitious list of projects given the prime minister’s promise to build ‘at a speed not seen in generations,'” Jim Reiter said in a statement following the announcement from Carney.

“The omission of uranium projects from the list is extremely concerning, as there are three projects in Saskatchewan that are ready to move forward in the near term. We have asked the federal government to correct this immediately. The lack of any approved pipeline projects also highlights the uncertainty caused by the current regulatory system and the reluctance of companies to move forward given that uncertainty.”

Reiter also offered some criticism, saying the new major projects office is only needed because Carney is unwilling to remove “unworkable federal regulations, like the Impact Assessment (Act), brought forward by the previous Liberal prime minister.

“Saskatchewan’s position remains the same — our country needs all economic projects to go forward if Canada wants to be the strongest economy in the G7 — not just the projects selected by politicians in Ottawa.”

Saskatchewan NDP Leader Carla Beck said she’s pleased about the inclusion of the McIlvenna Bay project, but also expressed frustration.

Beck said the federal government’s list “includes critically needed projects to support Saskatchewan’s mining sector and investments in ports like Montreal and Churchill,” calling the projects “very important.”

At the same time, Beck said she is “deeply disappointed” there were no projects announced “related to new pipelines, power generation or rail capacity. Our team has been calling on all levels of government to prioritize all types of trade-enabling infrastructure, and I urge the federal government to ensure there will be urgent progress on these vital projects.”

REGION RICH IN PRECIOUS, CRITICAL MINERAL METALS

The McIlvenna Bay project will produce polymetallic critical minerals in northeastern Saskatchewan. The company’s license area of 20,900 hectares holds a massive deposit in the Flin Flon Greenstone Belt, a region rich in copper, zinc, gold, and other precious and critical mineral metals.

The project reached the feasibility stage in 2022, with construction beginning in July 2024. The company expects commercial production to begin in mid-2026.

Foran estimates a CAN$1 billion price-tag for Phase 1 of the build. In its July 29, 2025 construction progress report, the company said overall construction progress reached approximately 42.2 per cent. Major work advanced in the process plant, underground development, and key surface infrastructure, according to the report. Detailed engineering is roughly 98 per cent complete.

Foran describes the mine, 100 per cent owned by the company, as designed to take advantage of leading-edge technological advances that reduce greenhouse gas emissions, improve safety and efficiency. Power from two local hydroelectric dams will reduce emissions from operations. A fleet of underground electric vehicles will provide low-emission transportation.

In addition to its inclusion on the federal government’s fast-track list, Foran Mining Corp. was also approved for up to $70 million in transferable royalty tax credits from the Government of Saskatchewan’s Critical Minerals Processing Investment Incentive.

With up to a 40-year production lifespan, Foran estimates the probable mineral reserves of the mine to be 29 million tonnes, holding nearly 800 million pounds (roughly 362,870 tonnes) of copper and 1.4 billion pounds (roughly 635,030 tonnes) of zinc.

Saskatchewan’s Critical Minerals Processing Investment Incentive was launched last year. The tax credits can be used to offset the obligations under Saskatchewan’s Mineral Crown Royalty.

NEED TO KNOW ABOUT MCILVENNA BAY’S FORAN COPPER MINE

— Foran Mining Corp.’s McIlvenna Bay project will extract copper and zinc, two critical minerals, in east-central Saskatchewan. The company’s licence area of 20,900 hectares encompasses a massive deposit in the Flin Flon Greenstone Belt, a region rich in copper, zinc, gold and other precious and critical mineral metals.

— The project reached the feasibility stage in 2022, with construction beginning in July 2024. Vancouver-based Foran, which owns 100 per cent of the project, expects commercial production to begin in mid-2026 and the mine will have an expected lifespan of up to 40 years.

— The mine is billed as Canada’s first net-zero copper mining project, with a projected extraction of up to 4,200 tonnes of copper and zinc daily. Power from two local hydroelectric dams will reduce operating emissions, while a fleet of underground electric vehicles will provide low-emission transportation.

— Estimated cost: $1.08 billion.

— Economic benefits: The mine is expected to create 400 full-time jobs, including jobs and economic development benefits for Indigenous communities. It will also benefit Quebec, where the copper will be smelted.

— Completion: Mid-2026.

— With Canadian Press files

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