$3.7 Million Boost for Northern Ontario’s Mining Sector Through NOHFC Funding

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TORONTO – PDAC – The Ontario government has announced a substantial investment exceeding $3.7 million, allocated through the Northern Ontario Heritage Fund Corporation (NOHFC) to bolster eleven mining supply and service sector companies across Northern Ontario. This significant financial infusion is set to foster innovation, enhance workplace safety, and stimulate business development, thereby generating new employment opportunities within the mining sector.

Greg Rickford, Minister of Northern Development, emphasized the government’s dedication to showcasing Northern Ontario as a prime destination for business and investment.

“Our government continues to send a strong signal to the world that Northern Ontario is open for business, and we are using every tool at our disposal, like the NOHFC, to attract businesses and support economic diversification in the mining sector,” said Greg Rickford, Minister of Northern Development. “Ontario’s presence at this year’s Prospectors and Developers Association of Canada conference and trade show in Toronto – the world’s premier mineral exploration and mining convention – is proof of the opportunities that our targeted investments have unlocked across the North.”

By leveraging tools like the NOHFC, the government aims to attract businesses and support the mining sector’s economic diversification. Ontario’s active participation in this year’s Prospectors and Developers Association of Canada conference, a leading global event for mineral exploration and mining, underscores the fruitful opportunities emerging from these strategic investments.

“Mining supply and service companies are essential to the success of operations that create wealth and prosperity for the North,” said George Pirie, Minister of Mines, and Member of Provincial Parliament for Timmins. “This announcement includes important investments in great companies in Timmins that service mining operations across the northeast. I am proud to be part of a government that invests in local businesses that ensure Ontario’s mines can keep running for generations to come.”

“These companies, including Nordic Minesteel Technologies in North Bay, are making important contributions to our province’s mining industry and maximizing the potential of the critical mineral wealth found in the North,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade, and Member of Provincial Parliament for Nipissing. “Through the NOHFC, our government is creating the conditions for job creation, attracting new investments and driving economic development across Northern Ontario.”

The NOHFC funding will support various projects, including the expansion and modernization of facilities, the acquisition of state-of-the-art equipment, and the development of innovative mining technologies. These projects span across Northern Ontario, with beneficiaries such as Itec 2000 Equipment in Timmins, A10 Fabrication in Espanola, and NCIndustrial Limited in Lively, among others. Each project aims to improve productivity, efficiency, and safety in the mining sector, demonstrating the government’s commitment to sustaining the industry’s growth and competitiveness.

Ministers George Pirie and Vic Fedeli also voiced their support, highlighting the pivotal role of mining supply and service companies in the success and longevity of Ontario’s mining operations. They acknowledged the significant contributions of companies like Nordic Minesteel Technologies in North Bay to the province’s mining industry and the critical mineral wealth of the North.

The NOHFC’s role in promoting economic prosperity across Northern Ontario is evident through its consistent support for projects that stimulate growth, job creation, and skills development. With an investment of over $759 million in 6,233 projects since June 2018, the NOHFC has been instrumental in leveraging more than $2.3 billion in investment and creating or sustaining over 9,590 jobs. This ongoing support underscores the government’s commitment to driving economic development and ensuring the mining sector’s vitality for generations to come.

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