Natural Resources
April 10, 2014

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

Newfoundland and Labrador’s Mineral Prospects Celebrated at International Conference

Mr. Speaker, I rise in this Honourable House today to highlight our province’s participation at the Prospectors and Developers Association of Canada’s international mineral convention and trade show recently held in Toronto.

Newfoundland and Labrador was well-represented and garnered significant interest in our province’s mining investment opportunities. The Provincial Government hosted a reception attended by over 300 leading representatives of mining companies, explorationists, and investors, and managed a high-traffic booth on the convention floor. The provincial delegation included officials from the Department of Natural Resources, Mining Industry NL, exploration companies with projects based in the province, prospectors, and supply firms.

During the conference, I met with Vale Canada, Labrador Iron Mines, and Teck Resources Limited to discuss the status of their projects and long-term development plans. On the convention floor, I had the opportunity to talk with officials while visiting the booths of many companies including Marathon Gold, Rambler Mines and Metals, Altius, Canadian Zinc, and Duralite Drills.

Meetings were also held with officials from the China Ministry of Lands and Resources on existing and future opportunities for involvement in the mineral sector. This builds on previous discussions with the Chinese government to promote our province’s mining potential.

Mr. Speaker, in an international survey released by the Fraser Institute, Newfoundland and Labrador was ranked as one of the top 10 most attractive jurisdictions for mining investment worldwide. We have a proven record of discovery and development of world-class deposits including Voisey’s Bay, Buchans, and the Labrador Trough.

Our government’s decision to proceed with the construction of a third transmission line between Churchill Falls and Labrador West will ensure power for new mining developments planned in the region, fuel further industrial growth, and improve reliability for all customers.

This multi-billion dollar industry is significant for the province with annual shipments forecast to be near $3.8 billion and highly-skilled jobs for more than 8,000 people. With a total of 14 commodities produced or mined here, there is a keen interest in our exploration and development potential which will contribute to long-term industry growth.

Our government is committed to the sustainable development of our mineral resources, and we continue to make strategic investments in our province’s mining sector to build on the tremendous prospects in Newfoundland and Labrador. Thank you.

2014 04 10                        2:05 p.m.