Newfoundland and Labrador is a world leading jurisdiction for exploration and mine development. For National Mining Week, the Provincial Government is highlighting the significantly positive impact of the sector in this province.

Strengthened by gold, iron ore and nickel, 2022 was another banner year for industry in the province, resulting in:

• Over 9,000 person years of work;
• Mineral shipments valued at $5.2 billion; and
• An estimated $243 million spent on exploration activities, the largest ever investment in exploration.

Claim staking is an indicator that exploration activity and investment interest in the province continues to grow. There have been over 9,000 claims staked this year to the end of April, with the Department of Industry, Energy and Technology currently administering over 200,000 active mineral claims overall.

Significant exploration activity is being driven by the province’s gold potential. Newfound Gold’s high-grade Queensway project includes a 500,000 metre drill program, while Marathon Gold’s Valentine Project will be the largest gold mine in Atlantic Canada with an estimated resource potential of four million ounces of gold.

To support critical mineral development and the transition to a green economy, the Provincial Government is developing a Critical Minerals Strategy to be released this year. Globally, critical minerals are generating increased interest due to their role in the transition to a low-carbon and digitized economy. Newfoundland and Labrador has significant critical mineral potential, with occurrences of 23 of Canada’s 31 critical minerals. The continued exploration of rare earth minerals in Labrador, the discovery of lithium on the south coast of the island, and the announcement that nickel from this province will supply electric car manufacturer Tesla, demonstrates that Newfoundland and Labrador is growing its capacity to be a supplier-of-choice for low-carbon alternatives as the globe moves toward decarbonisation.

To ensure the exploration and development of the province’s mineral resources are conducted in a responsible, sustainable and competitive manner, while remaining supportive of private-sector investment and job growth, the department is completing a review the Mineral Act and Mining Act. A report summarizing ‘what we heard’ during the consultation process is available at EngageNL.

Newfoundland and Labrador was ranked the fourth most attractive jurisdiction in the world in terms of mining investment according to the Fraser Institute’s 2022 Annual Survey of Mining Companies.

Quotes
“Newfoundland and Labrador works hard to be recognized as a jurisdiction for innovative, responsible, and value added mineral development. We know that by creating favourable conditions for mineral development within our province, we are creating favourable conditions to diversify the province’s economy.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology

“Our vision is to see Newfoundland and Labrador become the best place in the world to explore for minerals, develop new projects, and build world-class safe and sustainable mining operations. This Mining Week, we applaud our Association Members who continue to realize the benefits of investing in Newfoundland and Labrador, a recognized top-tier global jurisdiction backed by over 150 years of geoscience discovery and mining activity.”
Ed Moriarity
Executive Director, Mining NL

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Mining in Newfoundland and Labrador

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