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Mineral Incentive Program |
The Mineral Incentive Program, continued into 2005-06 with a budget of $1,628,000. The Mineral Incentive Program consists of two
components: 1)
Prospectors Assistance which provides prospectors with grants for
traditional "grass roots" exploration, total budget allocation is $250,000; 2)
Junior Exploration Assistance which supports
eligible exploration costs in Newfoundland and Labrador to conduct diamond
drilling, ground and airborne geophysics, and geochemical surveys with budget
allocation of approximately $1,340,000.
Under Prospectors Assistance in 2004-05, 72 prospectors were approved for funding
with total grant payments of $235,000. Under Junior Exploration Assistance, the
Minister approved 21 projects which total approximately $1,265,000.
The department also provides funding for a prospectors training course each year
in conjunction with the College of the North Atlantic in Stephenville. The course
is held in late spring and is an intense 14-day field-oriented course. Tuition is
$700 (including meals and accommodations) or $500 (not including meals and
accommodations). Since 1991, 295 prospectors have completed the course. For further
information on the Mineral Incentive Program, please visit our web site at:
http://www.gov.nl.ca/mines&en/programs/#financial.
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