The role of SMDC in the Saskatchewan uranium industry

The Saskatchewan Mining Development Corporation (SMDC) is a Crown Corporation owned by the Government of Saskatchewan. It engages in all phases of the mineral industry from exploration to development, and finally production and sale of minerals. SMDC participates in joint ventures of two types - voluntary and crown equity participation. To date, SMDC has entered into 27 voluntary ventures, five of which have been abandoned. Crown equity participation is more common. Companies acquiring mineral depositions after Mar. 1, 1975, are required to offer the Crown up to a 50 per cent joint venture when it is first intended to spend more than $10,000 in any one year on a particular disposition. To date, participation has been offered in about 75 programs and an interest has been taken in 70 of these. More than 50 per cent of SMDC joint venture expenditures are with partners from Germany, France, Japan, Italy, Great Britian and Sweden. SMDC hired an exploration manager in May of 1976 and commenced an active exploration program almost immediately. A total of 20 projects are currently underway. (LL)