TORONTO (miningweekly.com) – The Ontario provincial government on Friday revealed a new ten-year Mineral Development Strategy, aimed to attract new investment and supporting innovation in the struggling mineral exploration and development sector.
The strategy consisted of a ten-point action plan with four strategic priorities to ensure the mining sector was competitive and innovative; safe and environmentally responsible; efficiently and effectively regulated; and positioned to ensure growth and prosperity for future generations.
“The Mineral Development Strategy is a blueprint for how we will help the sector address the challenges of today and position it to grow and attract investment in the future,” Minister of Northern Development and Mines Michael Gravelle stated.
The Mineral Development Strategy was originally released in 2006. Renewing the strategy was a key commitment of the Growth Plan for Northern Ontario.
"The renewal of Ontario’s Mineral Development Strategy recognises the sector’s value to Ontario as well as the crucial need to have a competitive operating environment. We look forward to working with the minister to maintain a leadership position in sustainable mining," Ontario Mining Association president Chris Hodgson noted.
The renewed strategy was the result of engagement with prospectors, junior exploration and mining companies, environmental organisations and Aboriginal and northern communities, who had shared their input through written submissions and participation at workshops hosted by the province.
The province also announced that The Northern Ontario Heritage Fund Corporation would invest C$5-million in a Junior Exploration Assistance Programme in support of the renewed Mineral Development Strategy. This programme was expected to provide much needed financial support for mineral exploration projects.
According to government data, there were currently over 40 mines operating in Ontario, including 14 base metal mines, 16 gold mines and one diamond mine. Ontario accounted for about 25% of mining jobs in Canada.
The value of mineral production in 2003 was C$5.7-billion. In 2014, the value of mineral output was a record C$11-billion. The province’s mining industry supported more than 26 000 direct and 50 000 indirect jobs, and was the largest private employer of Aboriginal persons in Ontario.