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‘We’ve got a game-changer’: Resource discovery near Tisdale, Sask., could be next potash or uranium

The Thor Project's 6.8 billion tonnes of alumina could supply one-third of the world's known alumina, with a 72% internal rate of return projected, officials said.

  • At a University of Saskatchewan news conference on Friday, Canadian Energy Metals Corp. announced its Preliminary Economic Assessment for the Thor Project, led by Christopher Hopkins, president and chief executive officer of CEM.
  • CEM and provincial officials say the find is a 'possible game changer' for North American aluminum supply chains, touting it as a new domestic source vital to Saskatchewan's economy.
  • The PEA shows a measured and indicated resource of 49.5 billion tonnes, containing 6.8 billion tonnes of alumina, and models 16.5 million tonnes per year of ore feed producing 1.8 million tonnes of alumina at Tisdale.
  • CEM says it will spend 2026 evaluating the resource while advancing pre-feasibility work and demonstration-plant design, having acquired buildings and land in Tisdale but requiring more work before deciding on the US$6.3-billion Thor project.
  • Alumina's industrial uses mean the project could support high-paying jobs, royalties, tax revenues, and regional growth, CEM says.
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Canadian company says it's sitting on major site of alumina in Saskatchewan

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Global Mining Review broke the news in on Friday, January 30, 2026.
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