Grants awarded through the new Mineral Resources Development Fund will help in the search for new mineral discoveries, move projects closer to production and attract investment into Nova Scotia.
Energy and Mines Minister Derek Mombourquette announced the 28 grants totaling $799,800 today, July 11.
“Nova Scotia’s mining industry is an important component of the province’s rural economy,” said Mr. Mombourquette. “This program will support prospectors and exploration, assist in growing the province’s mineral sector and help train the next generation of young people entering the industry.”
The Mineral Resources Development Fund was introduced in Budget 2018-19, replacing a smaller program. The fund is timed with a renewed national focus in Nova Scotia’s mineral opportunities stemming from the success of the Atlantic Gold mine, the only new gold mine to open nationally in 2017. This new provincial initiative is designed to encourage investment and development in the mineral resource sector.
The fund supports grassroots prospecting to more advanced mineral exploration. It also provides marketing grants that enable prospectors to promote their mineral prospects and assists in securing research grants that build partnerships between university researchers, prospectors and mineral exploration companies.
“The Mineral Resource Development Fund is a huge benefit to the exploration community and highly beneficial to the rural economy of Nova Scotia,” said Lindsay Allen, owner-operator of ELK Exploration Limited in Terence Bay. “I’m hopeful we can make some new discoveries.”
Eighteen of the 28 grants are going to prospectors, many of which are one-person companies or junior exploration companies. Grants provide essential support for them to find mineral deposits and promote their projects to investors. Geology departments at Dalhousie, Memorial, Acadia and Saint Mary’s universities also received a portion of the approved grants. In addition to funding the research, the program links industry with innovative university researchers while providing training and support for the next generation of mineral deposit geologists.
For a full list of grant recipients and more information on the fund visit http://www.novascotia.ca/natr/meb/mrdp/mrdp_results.asp .
Source: Release