Mining
Monday, December 11th, 2023 6:49 pm EDT
Key Points
- Funding for Critical Mineral Exploration: The Ontario provincial government is allocating nearly $9 million through the Ontario Junior Exploration Program to junior mining companies. The aim is to support exploration projects focused on discovering critical minerals crucial for electric vehicles, smartphones, laptops, medical equipment, and renewable energy sources.
- Government’s Strategic Plan: The funding initiative is part of the provincial government’s strategic plan to secure critical minerals necessary for a local supply chain. Mines Minister George Pirie emphasized that the program is integral to the government’s larger vision of reshaping the economy, promoting economic development, securing domestic supply chains, and generating employment, especially in northern and Indigenous communities.
- Investment Details and Company Recipients: The Ontario Junior Exploration Program has committed $8.9 million to 54 projects, with a significant focus on critical minerals exploration. This funding leverages an additional approximately $21 million in industry investment. Notable recipients include companies such as EV Nickel, E2Gold, Noble Minerals, Rockridge Resources Inc., and Mink Ventures Corporation, each receiving funds for exploration activities related to critical minerals. The program is set to cover up to 50% of eligible costs, with a maximum of $200,000 per project, targeting junior mining companies with a market capitalization of up to $100 million.
The Ontario provincial government is allocating almost $9 million through the Ontario Junior Exploration Program to support junior mining companies in exploration projects. The funding aims to help these companies discover “critical minerals used in electric vehicles, smartphones, laptops, medical equipment, and renewable energy.” Mines Minister George Pirie highlighted that this initiative is part of the government’s strategic plan to secure critical minerals essential for the local supply chain, contributing to economic development and job creation across the province, particularly in northern and Indigenous communities. The Ontario Junior Exploration Program has committed $8.9 million to 54 projects, with $12 million dedicated exclusively to critical minerals. Some of the recipient companies include EV Nickel, E2Gold, Noble Minerals, Rockridge Resources Inc., and Mink Ventures Corporation, each receiving funding for various exploration activities related to critical minerals such as nickel, copper, platinum group metals, gold, lithium, and more. The program covers up to 50% of eligible costs, with a maximum of $200,000 per project, and is designed for junior mining companies with a market capitalization of up to $100 million.
For the full original article, please click here: https://northernontario.ctvnews.ca/province-provides-9m-to-help-junior-miners-find-critical-minerals-1.6679520
