The following statement was given today in the House of Assembly by the Honourable Derrick Dalley, Minister of Natural Resources:

Celebrating Mineral Investment Opportunities in Newfoundland and Labrador

Mr. Speaker, I rise in this Honourable House today to highlight Mineral Resources Review, the annual international conference and trade show that took place from October 31 to November 2 in St. John’s.

Events such as Mineral Resources Review and the Women in Mining forum continue to grow with the industry. A record 800 delegates attended the conference and trade show which is hailed as the main venue for networking and business development among all sectors of the province’s mining industry. Five years since the inception of the Women in Mining forum, the session has grown from 50 to close to 500 participants.

Throughout the week, I had the privilege to speak with industry leaders and meet with representatives from Mining Industry NL and the Newfoundland and Labrador Prospectors Association. We discussed the industry’s long-term outlook and how we can work together to capitalize on the momentum currently being felt throughout all regions of the province to ensure future growth and success.

I want to thank the conference organizers, staff with my department’s mines branch and the local branch of the Canadian Institute of Mining, Metallurgy and Petroleum. Through their hard work, this year’s conference featured a comprehensive program that included a special session dedicated to Voisey’s Bay in recognition of the 20-year anniversary of its discovery.

Mr. Speaker, Newfoundland and Labrador is an internationally-renowned exploration destination with significant mineral potential and diverse geology. The industry is an economic powerhouse with mineral shipments of $3.9 billion in 2013 and employment at a record high of more than 11,500 individuals.

Canadian and overseas investors recognize that this is an exciting time to be doing business in Newfoundland and Labrador. An estimated $10 billion of investment in the mining industry may be realized over the next decade with tremendous development expected in Labrador where industry is booming.

Mr. Speaker, mineral development is transforming the face of Newfoundland and Labrador and we are on the cusp of a whole new era for the province’s mining industry. It is time to seize the opportunity to ensure a strong sustainable resource future in the best interest of Newfoundlanders and Labradorians. Thank you.

2013 11 26                                     1:45 p.m.