Funding to Help Grow Mineral Sector

Government is advancing the provincial natural resources strategy, growing the economy and making it easier for prospectors and exploration companies to make new discoveries.

Minister of Natural Resources Charlie Parker announced today, July 13, a grant program to attract new mineral exploration investment and help bring new projects closer to development. The program will fund exploration activities and provide training and business development to support industry.

"This mineral incentive program will make our province more competitive with neighbouring provinces in attracting investments from a global industry and is expected to lead to new mineral discoveries and new mines and that means job creation in rural Nova Scotia," said Mr. Parker. "With this announcement, we are ticking off yet another commitment met to move the natural resources strategy forward."

Grants of up to $100,000 will be available for advanced exploration projects, with program funding to be matched by the company or prospector. Grants of up to $15,000 will be available to eligible prospectors for preliminary mineral exploration activities. This year $700,000 has been budgeted for the program.

Prospectors will also be eligible for funding to support introductory and continuing training on exploration techniques, safety, regulations and business development.

"The new mineral incentive program could help prospectors and small exploration companies to discover and develop potential economic mineral deposits," said Pat Mills, president the Mining Association of Nova Scotia.

"We are very appreciative of government's decision to implement this program which will assist in the earlier establishment of jobs and economic activity in rural Nova Scotia. This program will assist Nova Scotians to participate in the exploration and mining boom and resulting prosperity that is being experienced elsewhere in Canada."

Details and applications for funds are available at www.gov.ns.ca/natr/meb/nsmip/nsmip.asp .