The following is being distributed at the request of the Research & Development Corporation:
Strengthening the Economy Through Investments in Research and Development
RDC Announces $3 million to be Invested in Mining and Exploration R&D Over Three Years
The Research & Development Corporation (RDC) today announced the renewal of the GeoEXPLORE program, with $3 million available for investment in mineral and petroleum-related research and development (R&D) projects over the next three years.
“We are a mineral and petroleum-rich province whose resources are being
developed into commodities for the global market. Our mineral sector is
currently worth approximately nine per cent of the province’s GDP. Through
RDC’s GeoEXPLORE program, I am confident we are laying the foundation for
continued growth in the province’s mineral and petroleum sectors.”
- The Honourable Terry French, Minister of Innovation, Business and Rural
Development and Minister Responsible for the Research & Development
Corporation
To date, RDC has invested $2.8 million in the mineral exploration, mining and petroleum sectors through the GeoEXPLORE program. Based on the success of the program to date and recognizing the importance of R&D to exploration success and industry competitiveness, the GeoEXPLORE program has been renewed until March 31, 2017.
“RDC’s GeoEXPLORE program focuses investment in geoscience research to
advance mineral and petroleum exploration and development. These sectors
represent priority sectors for research and development in Newfoundland and
Labrador. The renewal of GeoEXPLORE will support continued, focused R&D in
industries which are critical for economic growth in the province.
- Glenn Janes, Chief Executive Officer, Research & Development Corporation
The GeoEXPLORE program has three elements: collaborative research; industry-led, technology-driven R&D; and post-doctoral research. Through targeted investment, RDC is helping ensure projects align with industry needs, development opportunities and potential for economic impact. For more information about RDC’s research and development investment programs, visit www.rdc.org
Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries and building a vibrant economy.
QUICK FACTS
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Media contacts:
Heather Maclean Director of Communications Department of Innovation, Business and Rural Development 709-729-4570, 697-4137 heathermaclean@gov.nl.ca |
Chris Flanagan Director, Marketing & Communications Research & Development Corporation 709-758-1021, 691-1009 chrisflanagan@rdc.org |
2013 04 01 4:25 p.m.