Revenue from the first subsurface mineral public offering of the fiscal year on Monday was driven by interest in lithium potential and earned $5,935,425.46.

Of the 18 subsurface permits posted for this offering, 16 received acceptable bids covering a total of 39,650.88 hectares. The permits, which are prospective for lithium, are located primarily in southeast Saskatchewan.

Synergy Land Services Ltd. Acquired 11 permits and the company also submitted the highest bid for a block that was just over 74-hundred hectares located northeast of Lampman. The bid rang in at $976,229.00.

The government says lithium is one of the 27 critical minerals that occur in Saskatchewan and several firms are actively pursuing lithium exploration and production in the province. The next mineral public offering is November 25, 2024.

Lithium is in rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles. Lithium is also used in some non-rechargeable batteries for things like heart pacemakers, toys and clocks. In addition, it has medical uses.