Saskatchewan Copper-Zinc-Gold-Silver Development
Project Overview
Advanced-stage underground copper-zinc-gold-silver mine development in Saskatchewan's prolific Flin Flon Greenstone Belt, representing one of Canada's largest undeveloped copper deposits with construction underway targeting H1 2026 commercial production.
Location & Jurisdiction East-central Saskatchewan, 65 km west of Flin Flon, Manitoba
- Region: Hanson Lake District, Flin Flon Greenstone Belt
- Traditional territory: Peter Ballantyne Cree Nation
Indigenous Partners Peter Ballantyne Cree Nation (PBCN)
- One of Saskatchewan's largest First Nations
- Project located entirely within documented traditional territory
- Active engagement throughout development and permitting
Key Statistics
- Developer: Foran Mining Corporation (TSX: FOM; OTCQX: FMCXF)
- Project Status: Under construction; commercial production H1 2026
- Total Capital Investment: Over CAD $1 billion
- Processing Capacity: 4,900 tonnes per day
- Mine Life: Initial 18 years (significant expansion potential)
- Annual Production: 65 million lbs copper-equivalent
- Direct Jobs: Nearly 400 permanent positions
Mineral Resources (July 2021 Technical Report) Measured & Indicated: 44.2 million tonnes @ 0.74% Ni (722 million lbs contained nickel) Inferred: 19.6 million tonnes @ 0.74% Ni (319 million lbs contained nickel)
- Copper-zinc-gold-silver rich VHMS deposit
- Open pit M&I: 23.9 Mt @ 0.71% Ni
- Underground M&I: 20.3 Mt @ 0.77% Ni
Indigenous Partnership Model Consultation & Engagement:
- Comprehensive engagement throughout environmental assessment
- Project registered under Saskatchewan's Environmental Assessment Act
- Formal consultation assigned by Saskatchewan Ministry of Environment
- Identified as primary Indigenous Nation for federal consultation (CNSC)
Economic Benefits:
- Priority employment for PBCN members
- Business opportunities through Indigenous procurement
- Long-term economic partnership spanning construction through closure
- Skills development and training programmes
Construction Workforce (Q4 2024):
- 21% employees/contractors from Saskatchewan North
- Zero lost-time injuries in 2024
Government & Regulatory Support Federal Government Backing:
- January 2025: CAD $41 million Strategic Innovation Fund contribution
- Battery-electric vehicle fleet
- Ventilation-on-demand and heat recovery systems
- Pyrite removal system integration
- December 2024: CAD $20 million Critical Minerals Infrastructure Fund
- Hydro transmission line construction
- On-site substation development
- EV charging infrastructure
September 2025 Fast-Track Designation:
- Named among first five projects under Canada's Major Projects Office (MPO)
- Collaboration with Peter Ballantyne Cree Nation emphasized
- Two-year window to final investment decision targeted
Provincial Support:
- September 2025: Saskatchewan Critical Minerals Project Investment Program support
- Total capital investment exceeds $1 billion
- Ministerial approval received July 2023 under Environmental Assessment Act
Project Development Status Current Construction Progress (Q4 2024):
- Detailed engineering 90% complete (full completion Q1 2025)
- Surface construction 24% complete
- 2,307 metres underground development completed
- Structural steel installation for process plant initiated
- SAG mill and ball mill installation ahead of schedule
- Process plant full enclosure Q3 2025
Timeline:
- 2023: Board approval for formal construction phase
- 2024: Major construction acceleration
- H2 2025: Hot commissioning begins
- H1 2026: Commercial production starts
- 2026-2044: Initial 18-year mine life
Sustainability & ESG Credentials Blueprint for Responsible Mining:
- Battery-electric vehicle fleet (zero emissions underground)
- Ventilation-on-demand system (energy efficiency)
- Water recycling system (minimal water consumption)
- Clean hydroelectricity connection (97% of Manitoba generation)
- Pyrite removal system (environmental protection)
Federal Government Recognition (Minister Jonathan Wilkinson): "This project is precisely the investment we need to secure Canada's position as a global leader in clean technologies and responsibly sourced mineral products."
Saskatchewan Premier Scott Moe: "A positive step towards increasing employment in our northern Indigenous communities and sustainably producing new critical minerals like copper in our province."
Project Infrastructure Location Advantages:
- Adjacent to Provincial Highway 6
- 230 kV transmission line access
- 60 km south of Bay Line rail at Ponton
- 4.5-hour drive north of Winnipeg
- Well-established mining region with skilled workforce
Processing Facility:
- Modern concentrator producing copper, zinc, gold, and silver concentrates
- Advanced flotation technology
- Paste backfill system for tailings management
Investment Proposition for UK/European Investors Strategic Advantages:
- One of Canada's largest undeveloped copper deposits
- Secure jurisdiction with strong rule of law (Saskatchewan ranked #1 in Canada for mining investment attractiveness - Fraser Institute)
- Federal and provincial government financial backing reduces execution risk
- Clean energy powered operations (ESG premium)
- Established Indigenous partnership provides social licence
Market Timing:
- Global copper supply constraints intensifying
- Critical minerals strategic priority for allied nations
- Saskatchewan produces 27 of 34 Canadian critical minerals
- Strong support for critical minerals across political spectrum
Operational Advantages:
- Existing infrastructure minimises development risk
- Experienced management team
- Construction on schedule and budget
- Access to skilled Canadian mining workforce
- Proximity to existing Flin Flon infrastructure
Recent Developments June 2025 Wildfire Response:
- Temporary site evacuation due to regional wildfires (common in remote Canada)
- Project remained intact; personnel returned safely
- Controlled ramp-up demonstrated strong crisis management
- Foran supported wildfire relief efforts for affected communities
November 2024 NSR Royalty Repurchase:
- Exercised right to repurchase 1% NSR from Cameco and South32
- CAD $1 million consideration
- Optimises project economics
- Eliminates future royalty burden
Key Contacts
- Developer: Foran Mining Corporation
- Indigenous Relations: Peter Ballantyne Cree Nation
Investment Considerations Opportunities:
- Large-scale, long-life copper-zinc operation in premier jurisdiction
- Federal and provincial funding reduces capital requirements
- Construction on track for 2026 production
- Clean energy operations command ESG premium
- Indigenous partnership provides regulatory certainty
- Saskatchewan's mining-friendly environment
- Proximity to existing infrastructure and skilled labour
Risk Factors:
- Construction execution risk (mitigated by progress to date)
- Commodity price volatility
- Remote location weather dependencies (wildfire season demonstrated)
- Underground mining operational complexity
- First production from Foran (limited operating track record)
Competitive Position
- Largest undeveloped VHMS deposit in Flin Flon Greenstone Belt
- 100-year mining history in region provides proven geology
- Lower carbon footprint than 99% of global nickel production (September 2022 analysis)
- Strategic copper supply for North American markets
Investor Resources
- Foran Mining 2025 Technical Report (March 2025)
- Saskatchewan Environmental Assessment approval documentation
- Federal Strategic Innovation Fund announcement (January 2025)
- Quarterly construction progress reports