December 20, 2022
Critical minerals are an essential component of many renewable energy and clean technology applications and are vital to building Canada’s green and digital economy. That is why the Government of Newfoundland and Labrador is joining the Government of Canada in providing support to help the province’s mining sector to grow and meet the increasing global demand for critical minerals.
The Honourable Seamus O’Regan Jr., federal Minister of Labour and MP for St. John’s South-Mount Pearl, announced an investment of $5.2 million over the next three years for the Government of Newfoundland and Labrador to deliver two new critical mineral initiatives focused on geoscience and exploration activities. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, federal Minister of Official Languages and Minister responsible for ACOA.
In addition, the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, confirmed $4.6 million in support through its existing Junior Exploration Assistance program and in-kind support over three years. These investments support an airborne geophysical survey program to help identify areas in the province for potential critical mineral exploration. The surveys will capture data remotely from areas where the geology is not well understood due to poor bedrock exposure.
The funding will also provide increased support for eligible junior exploration companies searching for critical minerals in Newfoundland and Labrador through a new component of the Provincial Government’s Junior Exploration Assistance Program. Newfoundland and Labrador’s mineral industry continues to be a key economic driver for the province and a focus for investment attraction efforts. The estimated activity for 2022 is projected to result in over $5.4 billion in mineral shipments, $189 million in exploration expenditures, and employment of approximately 8,800 person-years.
“The rise of critical minerals presents a real opportunity for Newfoundland and Labrador, given this province’s tremendous critical mineral potential. Support for exploration is necessary to expand our future critical mineral production and our participation in the creation of those products necessary to drive the transition to a green economy,” said Honorable Andrew Parsons, Minister of Industry, Energy, and Technology.
“Newfoundland and Labrador’s remarkable geology has helped us build a strong mining sector that provides thousands of jobs and many benefits for businesses and communities. We know that there is an untapped potential right here to discover more of the critical minerals that Canada and the world need to build a greener economy,” said Honorable Seamus O’Regan Jr., Minister of Labour and MP for St. John’s South-Mount Pearl.
“Atlantic Canada has an important role to play in developing sustainable industries and contributing to the digital economy. This investment will help ensure that more critical mineral exploration and development move forward, which will contribute to clean growth and support this region’s mining industry,” said Honorable Ginette Petitpas Taylor, Minister of Official Languages and Minister Responsible for ACOA.
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