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The provincial government in Ontario, Canada, has released a new 10-year mineral development strategy to attract new investments and support for the mineral exploration and development sector.

The strategy includes a 10-point action plan, along with four strategic priorities designed to keep the sector competitive and innovative, environmentally responsible and safe, efficiently regulated, and positioned to ensure growth and prosperity for future generations.

The previous mineral development strategy was released in 2006, and the government pledged to renew the plan for the growth of Northern Ontario.

The government received input about the strategy from prospectors, junior exploration and mining companies, environmental organisations, and Aboriginal and northern communities, before releasing the new plan.

"Our government is committed to supporting a globally competitive mineral development and mining sector."

Northern Development and Mines minister Michael Gravelle said: "Our government is committed to supporting a globally competitive mineral development and mining sector that provides significant social and economic contributions to Ontario’s economy and supports economic development for Aboriginal communities.

"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."

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By GlobalData

The Northern Ontario Heritage Fund Corporation (NOHFC) is investing $5m in a junior exploration assistance programme to provide support to the renewed mineral development strategy.

The programme is expected to provide financial support for mineral exploration projects.


Image:Northern Development and Mines minister Michael Gravelle. Photo: courtesy of Ministry of Northern Development and Mines.