Support For Critical Mineral Exploration In Newfoundland And Labrador

Mar 22, 2023 - 2 years ago

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 Canada, along with the Government of Newfoundland and Labrador, is providing support to help the province’s mining sector to grow and meet an increasing global demand for critical minerals.

Support For Critical Mineral Exploration In Newfoundland And Labrador — *Felix Dilly / Pixabay*

Investments will help NL capitalize on critical mineral opportunities
The Honourable Seamus O’Regan Jr., Minister of Labour and Member of Parliament for St. John’s South-Mount Pearl, recently 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.

“Newfoundland and Labrador has 24 of Canada’s 31 critical minerals. These are the minerals we need for EVs, solar panels, and clean tech,” stated the Honourable Seamus O’Regan Jr., Minister of Labour and Member of Parliament for St. John’s South-Mount Pearl. “And we have some of the finest miners and workers in the world.”
The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.

“Atlantic Canada has an important role to play in developing sustainable industries and contributing to the digital economy,” stated the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA. “This investment will help ensure that more critical mineral exploration and development moves forward, which will contribute to clean growth and support this region’s mining industry.”

In addition, the Honourable Andrew Parsons, provincial Minister of Industry, Energy and Technology, announced $4.6 million in support from the Government of Newfoundland and Labrador through its existing Junior Exploration Assistance program and in-kind supports over three years.

“The rise of critical minerals presents a real opportunity for Newfoundland and Labrador with this province’s tremendous critical mineral potential,” said the Honourable Andrew Parsons, provincial Minister of Industry, Energy and Technology. “Support for exploration is necessary to expand our future critical mineral production and participation in the creation of those products necessary to drive the transition to a green economy.”

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 looking for critical minerals in Newfoundland and Labrador through a new component of the provincial government’s Junior Exploration Assistance Program.

This announcement highlights the Government of Canada’s commitment to strenghtening the mining industry, one of Canada’s most important economic sectors and an essential part of transitioning to a greener economy.

Quick facts

Canada has a list of 31 minerals it considers to be critical for the sustainable economic success of the country and its trading partners. These minerals are needed in many renewable energy and clean technology applications, such as advanced batteries and solar panels.
The Government of Newfoundland and Labrador’s Junior Exploration Assistance Program aims to grow the mineral inventory of the province through the discovery of new mineral districts, occurrences, prospects and deposits.
The mining industry contributes significantly to Newfoundland and Labrador’s economy, especially in rural areas and Indigenous communities. It provides direct employment for approximately 8,000 workers and contributes $2.7 billion to gross domestic product (2020).
The funding announced is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program.

Source: ACOA