The provincial government is digging deep on its plans to further develop the mining industry in the province, with its eyes on five new mines.
Premier Dwight Ball and Natural Resources Minister Siobhan Coady spoke of the plan at the Mineral Resources Review conference in St. John’s on Friday.
Currently, the mining industry has 11 mines producing in the province, contributing about 6.7 per cent of the province’s gross domestic product (GDP).
Government estimates companies will spend $48 million for mining exploration in 2018, with $3 billion in exports anticipated.
Ball says the harsh environment that used to prevent mining exploration is something the province can use to its advantage as part of the plan.
“We all know that we work in extreme conditions here in Newfoundland and Labrador, we see it with the oil and gas industry,” said Ball, speaking with reporters.
“It’s about partnerships, strengthening those relationships so we can tap the potential that exists in the mining industry.”
The plan has four focuses: changing regulations, public education on the industry, indigenous outreach and investment in new technology.
The province wants five new mines to be fully operational by 2030, with the goal of employing 6,200 people by that time.
Currently, about 15 per cent of workers in this industry are women. Part of the province’s plan is to increase that number to 30 per cent, throughout the field.
In order to get there, the province says it needs to take on a number of measures.
A full re-examination of regulations and surrounding legislation will be undertaken. The Mineral Act and the Mining Act, for example, haven’t been updated since 1976 and 1999, respectively.
A scan of other jurisdictions will take place in the next two years, to determine where this province ranks among the rest of Canada in terms of ease of entry into the mining industry.
Essentially, the entire industry will be examined from top-to-bottom.
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