In addition to being chosen as one of the Major Projects that the federal government wants to help come to completion, the Government of Saskatchewan’s Critical Minerals Processing Investment Incentive (CMPII) will support the development of Foran Mining Corporation’s McIlvenna Bay mine, which is expected to begin commercial production in mid-2026.

The CMPII and the Saskatchewan Critical Minerals Innovation Incentive (SCMII) follow private investment and provide transferable royalty and freehold production tax credits on eligible project costs.

The Province says through onsite processing, Foran’s McIlvenna Bay project is expected to produce significant amounts of copper and zinc concentrates. The CMPII was introduced in 2024 to support value-added processing projects for 11 emerging critical minerals found in Saskatchewan, including copper and zinc

In a news release Energy and Resources Minister Colleen Young said. “Our province’s rich resources, competitive business environment and reliable regulatory framework make Saskatchewan one of the top places in the world for companies like Foran to invest in major projects.” She also said the government looks forward to the mine growing the provincial economy and creating long term employment in the north.

The McIlvenna Bay project, located west of Creighton, represents a total capital investment of over $1 billion. The project consists of an underground copper, zinc, gold, and silver mine, accompanied by an above-ground processing facility. The processing facility will have a capacity of 4,900 tonnes per day of ore producing copper, zinc, gold, and silver over an initial 18-year mine life.

Foran’s Chief Financial Officer James Steels said. “The CMPII is a strong example of the province’s commitment to responsible resource development that underpins Saskatchewan as Canada’s leading jurisdiction for mining investment.”