Natural Resources
March 10, 2010

Optimism Strong Among Newfoundland and Labrador
Delegation at International Mining Conference

The rebound in the mining industry was evident this week in Toronto as approximately 40 companies and over 200 delegates from Newfoundland and Labrador shopped their prospects and products to the global mining and investment community at the annual Prospectors and Developers Association of Canada's convention and trade show.

"What struck me the most on the floor of the convention was the enthusiasm and optimism of mining and supply companies who are seeing signs of economic recovery in the commodity market and therefore, a greater potential for investment," said the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. "It was clear from my meetings that the major mining companies that currently operate in the province are committed to Newfoundland and Labrador, and our junior exploration companies and prospectors made many excellent contacts that will undoubtedly prove positive for our mining industry."

Minister Skinner attended the convention and trade show on behalf of the Honourable Kathy Dunderdale, Acting Premier and Minister of Natural Resources. The minister visited the booths of local mining companies from across the province and those interested in doing business in Newfoundland and Labrador.

"Our companies report that there is an increasing interest in our province's exploration and development projects," said Gerry O'Connell, Executive Director of the Newfoundland and Labrador Chamber of Mineral Resources. "I expect we will see greater levels of exploration investment within the next few years."

The global mining industry is experiencing a renewed interest in gold as a result of rising commodity prices. Rare metals are also attracting attention with renewed demand from China. Newfoundland and Labrador has both and is well-positioned to attract future mining investment to the province.

The Prospectors and Developers Association of Canada's international convention and trade show is the premiere mining conference in the world. This year, attendance returned to its previous levels of more than 20,000 delegates.

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