The following statement was issued today by Walter Noel, Minister of Mines and Energy. It was also read in the House of Assembly:

National Mining Week

May 12-18, 2003 is National Mining Week throughout Canada. 

I would like to recognize the contribution made by the mining industry to the economy of Newfoundland and Labrador. This year, approximately 2,700 people will be directly employed in the province�s mining industry, primarily as a result of increased activity at Voisey�s Bay. The total value of mineral shipments is forecasted to increase from $792 million last year, to $826 million in 2003.

Over a dozen mineral commodities including gold, iron ore and gypsum are produced by our miners. Industrial minerals, such as dimension stone, slate and limestone are also creating new opportunities. Labrador West continues to produce approximately 55 per cent of Canada�s iron ore products.

The Voisey�s Bay development will create thousands of jobs and enormous benefits for decades to come. This year, 500-600 persons are expected to gain employment on the project with over $100 million being spent in our province.

The province�s geology is attracting significant exploration interest. About 120 mineral exploration companies are active in the province, and it is estimated that 20,000 claims will be staked in 2003. Current estimates indicate that $25 million will be spent on exploration this year. Exploration is being conducted in several regions including the area from Gander Bay to St. Alban�s and from Badger to Gander, including the Botwood Basin, and in the area of the Golden Promise gold discovery. Areas which were staked in 2002 are now subject to a resurgence in gold exploration, these include White Bay, and the Baie Verte and Springdale peninsulas which have great potential for future gold discoveries. As well, there is base metal exploration in the Smallwood Reservoir in Labrador, the Bonavista Peninsula, and Red Indian Lake.

The Department of Mines and Energy continues to actively encourage and support the mineral industry with informative resource data, mine engineering assistance and incentive programs. We continue to work with industry to strengthen opportunities in our mineral sector. Through our resource management activities we ensure that our mineral resources are developed and managed in a sustainable manner.

Mining is an industry providing tremendous current benefits and great promise for our people. We appreciate the efforts of those involved, and assure them of our continuing assistance.

2003 05 13                                       1:45 p.m.