Saskatchewan's natural resources have long been a huge part of the provincial economy, and another such resource is coming to the forefront. Today, the province announced that mining companies had bought up land at their Subsurface Mineral Crown Disposition Public Offering, and some of that land was very close to Estevan.

All told, the public offering, which was held on Monday, raised $169,878 in revenue for the province. Mining companies who bought land include Deep Earth Energy Production Corporation, Prairie Lithium Corporation, and Sun Valley Land Ltd.

"The subsurface mineral public offering uses a transparent and competitive bidding system to issue subsurface mineral dispositions that grant the holder exploration and development rights for potash and natural mineral salts occurring more than 60 metres below the land surface," said the province in a statement. "These include boron, calcium, lithium, magnesium, potassium, sodium, bromine, chlorine, fluorine, iodine, nitrogen, phosphorus and sulfur, and their compounds."

Sun Valley picked up the biggest plot of land, and that plot is practically in Estevan's back yard. They bid $30,000 on a 1,656.78 hectare permit block about 18 kilometers southwest of Estevan. Their goal is to find minerals like lithium in this permit block.

Lithium is an essential element for batteries used in electric cars and portable electronics, making it very valuable. According to statista.com, the price of lithium hovers around $9.39 American per kilogram. The price has been rising sharply since 2013.

"As the appeal for lithium is increasing in the global market," the provincial release continued, "the province has seen a significant interest in Saskatchewan’s lithium potential."

The next scheduled date for a subsurface mineral public offering in Saskatchewan is December 14, 2020.