Prospectors and mining companies can now apply for provincial funding to help find or develop new mineral resources.

The Mineral Incentive Program is designed to develop opportunities that will spur employment and create new markets for Nova Scotia companies, especially in rural areas.

“We have seen recent growth in the mining sector, with two gold mines operating or preparing to become operational, the first in more than a decade,” said Natural Resources Minister Zach Churchill. “This grant program is designed to keep that momentum going.”

This year, $600,000 in grants are available for mineral exploration, with more money for business development and training for prospectors.

Prospectors can receive grants up to $15,000 for exploration activities.

Advanced project grants are available for exploration and evaluation. Up to 50 per cent of eligible costs, to a maximum grant of $100,000, will be covered.

Application forms and program guidelines are available at www.novascotia.ca/natr/meb/nsmip/nsmip.asp . The deadline for submissions is Thursday, May 15. Applications will be evaluated this month, with funding shortly after.

This is the final year of the three-year Mineral Incentive Program. Since 2012-13, about $350,000 has been provided for prospector grants and $850,000 for advanced project grants.

Source: Release