December 20, 2022 · St. John's, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
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.
Investments will help NL capitalize on critical mineral opportunities
Today, the Honourable Seamus O'Regan Jr., Minister of Labour and Member of Parliament 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, Minister of Official Languages and Minister responsible for ACOA.
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.
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.
Today's 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.
