The government of Newfoundland has rolled out a $12-million initiative aimed at boosting the level of mineral exploration in the province over the next three years.
Roger Grimes, minister of mines and energy, says the program will “help maximize the value of our natural resources and create an attractive investment climate.”
The 3-year program has four main components: an expanded prospector’s assistance program, with annual government funding of $250,000; exploration assistance for junior companies to the tune of $1.5 million per year; a “dimension stone” incentive program, with annual government funding of $250,000; and an enhanced promotion program, with government funding in the range of $150,000-250,000 per year.
“My department and this government remain committed to ensuring the optimum benefits of our natural resources are realized by the people of the province,” Grimes stated in a news release. “And this major exploration initiative by government will help bring continued development of our natural resources that will further generate wealth for commitment to social programs in the province.”
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