Government invests $4.3 million into a Critical Minerals Plan

    Wednesday, 1 November 2023 12:00

    By Tonya Organ

    The program is designed to de-risk and attract private investment for exploration leading to viable projects. I

    Government has released a $4.3 million Critical Minerals Plan. The investment includes $3 million for Critical Mineral Geoscience using artificial intelligence and remote sensing technologies to speed up the collection, processing and availability of data.  $1.3 million will go to the Junior Exploration Assistance Program for projects exploring for critical minerals. The program is designed to de-risk and attract private investment for exploration leading to viable projects. In this province, 34 minerals have been identified as critical in the transition to a green economy. Nickel, copper and cobalt, high-grade low impurity iron ore helps reduce greenhouse gas emissions in steel manufacturing and has the potential for further value-added activity as a green steel input.  The mineral industry generated 9,000 person years of employment in 2022 and 11.5 per cent of the 2021 provincial GDP. 

     

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