The string of new mines and a focus on excellence in geoscience highlighted the province�s progress towards becoming more globally competitive at this year�s Prospectors and Developers Association of Canada conference in Toronto this week.

"The prospectors, junior exploration companies and international mining companies I met at this conference all told me the same thing � they want to participate in our province�s thriving mineral industry," said the Honourable Kathy Dunderdale, Minister of Natural Resources. "The feedback we�re getting is a great vote of confidence in the mining investments we�ve made on behalf of the people of the province."

The minister�s participation at the conference included a speech to nearly 500 conference delegates who attended a reception the province co-hosted with the Newfoundland and Labrador Chamber of Mineral Resources on March 3.

"When Anaconda begins operating its gold mine at Pine Cove in the coming weeks, it will be the province�s fourth new mining operation in three years," said Minister Dunderdale. "Any mining jurisdiction would be proud of such a record because it shows we are open for business and we have the mineral prospects to support it."

The province�s mining sector is booming thanks to a thriving commodities market, great mineral prospects and strategic Provincial Government investments. Companies exploring for minerals in the province set a record for exploration expenditures of $138 million in 2007. That spending was dominated by exploration for base metals, including nickel, and by exploration for uranium in Labrador. Another measure of industry growth in the province last year was mineral shipments, which reached a record level of $3.9 billion due mainly to nickel and iron-ore shipments. That�s 470 per cent higher than just four years ago.

Environmentally-sustainable mining is playing a major positive role in the province�s economy, mostly in rural communities. The sector employs approximately 3,800 people in high-paying jobs throughout the province.

"Our mining strategy is keenly focused on making the province more globally competitive to attract even more exploration and development in the coming years," said the minister. "The strategy includes continuing to invest in the Mineral Incentive Program, which provides important financial assistance for prospectors and junior exploration companies."

The province�s strategy also includes increased funding for new geological mapping, which improves the companies� odds of discovering commercial mineral deposits. In addition, the province continues to post more detailed, timely and interactive information about its excellent mineral prospects on the department�s website � www.gov.nl.ca/nr/. For example, companies can now stake claims across the province online in real time. More online innovations are being developed.

The PDAC conference is the largest annual mining conference in Canada. Minister Dunderdale led a large Newfoundland and Labrador contingent at the conference that included her officials, the Chamber of Mineral Resources and numerous companies, geologists and prospectors.

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Media contact:
Corey Snook
Communications and Marketing Manager
Department of Natural Resources
709-729-5777, 728-2837
CoreySnook@gov.nl.ca