The province’s mineral industry continues to be a key economic driver for the province and a focus for investment attraction efforts, with mineral exploration activity for 2020 the highest in the past five years.
To encourage mineral exploration in Newfoundland and Labrador, the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, today announced the recipients of the 2020-21 Mineral Incentive Program, with an investment of $1.7 million. The Mineral Incentive Program provides funding to the mineral exploration industry through both Prospector Assistance and Junior Exploration Assistance programs as well as providing funding for the Matty Mitchell Prospectors Resource Room.
Recipients of the Prospectors Assistance Program can be viewed here. Recipients of the Junior Exploration Assistance Program can be viewed here.
Prospector Assistance provides direct financial support to individuals to promote discovery of wealth-generating mineral deposits and development of the prospecting industry. Junior Exploration Assistance aims to grow the mineral inventory of the province through the discovery of new mineral districts, occurrences, prospects and deposits. Together these programs enhance Newfoundland and Labrador’s competitiveness through advancing mineral discoveries and exploration.
In 2020, the province saw 389 mineral exploration applications processed, the highest number in any of the last five years. Mineral exploration expenditures are projected to be over $82 million in 2021 – up from $67 million in 2020.
Mining, mineral exploration and quarrying are important industries for the province. Over $4 billion in mineral shipments, increasing exploration expenditures, and employment of 7,700 person years are projected for 2021.The quarry industry is valued at over $30 million with almost six million tonnes in quarry production expected in 2021. These industries create opportunities for local businesses, and increase the province’s ability to invest in programs, infrastructure, education and health care.
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“I am pleased to announce today the recipients of the 2020-21 Mineral Incentive Program. These junior exploration companies and prospectors are helping to further develop and grow our mining industry. I wish them all the greatest success as they conduct mineral exploration throughout our province with the hopes of finding the next big discovery.”
Honourable Andrew Parsons
Minister of Industry, Energy and Technology
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Learn More
Recipients – Junior Exploration Assistance Program
Recipients – Prospectors Assistance Program
News Release – Five Year High for 2020 Mineral Exploration Activity
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Media contact
Lisa Lawlor
Industry, Energy and Technology
709-729-5777, 631-8155
lisalawlor@gov.nl.ca