Business Bulletins News

IW Business Bulletin – May 14, 2021

SREDA Releases Report on Project Ribbon: Agribusiness Investment

SREDA’s Project Ribbon released its Phase Two report on May 10, 2021, building the Saskatoon area’s strengths in agriculture in an effort to attract further agri-business.

“This project is all about ensuring we are investment ready,” said Alex Fallon, SREDA President and CEO. “We already have the agriculture inputs, so we want to attract companies that process and add value to these commodities. There’s no better place for them to invest in a facility than the Saskatoon Region. I am confident that one day in the future, there will be a ribbon-cutting ceremony for a new agribusiness development in the Saskatoon Region, and releasing the Phase Two Project Ribbon report means we’re one step closer to making that day a reality.”

Completed in 2019, the project’s determined the areas that were ready to attract agribusiness including the RMs of Blucher, Corman Park and Vanscoy. The Phase Two analyzed costs of bringing utilities and services to the identified areas.

Read the report:

New Trade Offices

The Government of Saskatchewan announced on Wednesday, May 12, 2021 that it will open new trade and investment offices in London, United Kingdom; Dubai, United Arab Emirates; Mexico City, Mexico; and, Ho Chi Minh City, Vietnam. These offices are in addition to offices already in place in Japan and India, with an office opening in Singapore shortly and no timeline yet on the previously-announced office in China. This brings the total number of planned and opened offices to eight. According to a government spokesperson for the Ministry of Trade and Export Development, the offices will be opened during the 2021-22 fiscal year, and all managing directors will be recruited through “an extensive, competitive hiring process consistent with the hiring processes for all professional public servants in Saskatchewan.”

Helium Discovery at Climax

Royal Helium Ltd. announced May 12, 2021 that the company has made a significant helium discovery at its Climax Helium Project in southwest Saskatchewan. The company estimates the total helium in-place in its prospective area (The Regolith) to be approximately approximately 2.5 billion cubic feet. Royal Helium will also commence production on another zone – Climax-1 – soon.

“We are exceptionally pleased with this discovery at Climax. The Regolith appears to be helium charged over a significant interval and, once the production methodology is determined, it has the potential to be one of the largest helium discoveries in Saskatchewan history. Entering this drill program, we were targeting conventional helium production, which we have found in Climax-1, Climax-2 and potentially Climax-3. We are now evaluating the completion methodology of the Regolith which may include horizontal drilling and/or fracture stimulation in order to maximize the productive capacity of this zone,” said Andrew Davidson, President and CEO of Royal Helium.

Next week: Women Entrepreneurs Week – May 16-22

The Government of Saskatchewan has proclaimed May 16-22, 2021 as Women Entrepreneurs Week in Saskatchewan. The week recognizes the women business owners for their contributions to the Saskatchewan economy and labour markets.