Location
Saskatchewan, Canada
Operator
Commodity
Potash
| Asset Profile | |
|---|---|
| 2021 Royalty Revenue | C$0.6 million |
| Annual Production Capacity | 0.3 million tonnes per annum |
Patience Lake mine is a solution mining operation located due east of Saskatoon, Saskatchewan. The mine was producing as a conventional underground mine in the 1960s, however it was flooded in the 1980s and purchased by PCS which converted it to a solution mine. As this is the first mine to have been converted to a solution mining facility, there is no current estimate of remaining mining life. Annual nameplate capacity for Patience Lake is 0.3 million tonnes of finished potash products, with 2023 production of 0.2 million tonnes finished potash. Royalty rates for all the potash assets are set by the province of Saskatchewan (3% in 2023), and are the function of the number of tonnes owned under unitization agreements × price × indexed multiplier. See The Subsurface Mineral Royalty Regulations, 2017
