Newfoundland and Labrador is rich in mineral resources, with a proven record of discovery and development of world-class mineral deposits. The industry produces more than a dozen commodities. There are currently 16 major producing mines in the province with a further 8 under development.

The exploration industry in Newfoundland and Labrador, along with other jurisdictions, saw a significant reduction in activity in 2009 due to the downturn in the global economy. However, there are encouraging signs of a recovery in mineral related activity in the province. Metal prices are rising with an increase in demand from Asian countries. Locally, several projects are advancing toward production, and the construction of a new nickel processing facility has commenced.

 

Industry

• Mineral shipments, which have dropped from a record high of $4.6 billion in 2008 to a projected figure of $2.03 billion for 2009, are still noticeably higher than pre-2006 values, an encouraging sign for future recovery.
• More than a dozen mineral commodities are produced, including iron, nickel, copper, gold, zinc, antimony, cobalt and industrial minerals such as limestone, dolomite, barite, gypsum, dimension stone, slate, peat, and aggregate.
• World-class mineral deposits such as Labrador West (iron), Voisey's Bay (nickel, copper, cobalt), and central Newfoundland (zinc, copper).
• Approximately 4,000 highly-skilled people directly employed in the industry.
• Newfoundland and Labrador Mining policies rank fifth in the world and provide strong encouragement for the sector, according to the 2008-09 Survey of Mining Companies conducted by the Fraser Institute.
• Producing Mines:
  • Atlantic Barite Limited;
  • Anaconda Mining Inc.;
  • Atlantic Minerals Limited;
  • Tech Duck Pond Operations;
  • Beaver Brook Antimony Mine Inc.;
  • Galen Gypsum Mines Limited;
  • Hi-Point Industries (1991) Limited;
  • Hurley Slate Works Company Inc.,
  • Iron Ore Company;
  • Shabogamo Mining & Exploration Limited;
  • Terra Nova Granite (2007) Inc.;
  • Torngait Ujaganniavingit Corporation;
  • Vale Inco Newfoundland & Labrador Limited;
  • Wabush Mines Limited
• Developing Properties:
  • Canada Fluorspar (NL) Inc.;
  • Continental Stone Limited;
  • Hi-Point Industries (1991) Limited (Gander Bay);
  • Labrador Iron Mines Holdings Limited;
  • Newfoundland Pyrophyllite;
  • New Millenium Capital Corp.;
  • Peat Resources Ltd.;
  • Rambler Metals and Mining PLC

 

Development

• Four new mines opened since 2005: Voisey's Bay (nickel, copper, cobalt), Duck Pond (copper, zinc, silver, gold), Beaver Brook (antimony) and Pine Cove (gold).
• Major industry investment: US$2.2 billion by Vale Inco to construct a nickel processing facility in Long Harbour - construction began in April 2009.
• Strong project pipeline includes projects in iron, uranium, copper-gold, fluorspar, tungsten and aggregates. New option and joint venture agreements on mineral properties continue to be made at an encouraging rate in 2009. Most are focused on gold or base metal occurrences, including recent discoveries in Central Newfoundland.

 

Exploration

• In 2008, almost 67% of the $148 Million in mineral exploration expenditures took place in Labrador, focusing on uranium, iron ore and nickel. However, the market downturn is expected to reduce expenditures to $58 Million in 2009. This is still above pre-2006 levels.
• 200 advanced, active or emerging mineral exploration projects are targeting a wide variety of commodities: iron, nickel, uranium, zinc, copper, molybdenum and gold.
• 30 advanced projects have mineral resource or reserve estimates established.
• Vibrant junior exploration and prospecting sector.
• Modern, on-line geoscience and mineral assessment databases.
• MEAMS, a new online exploration approval system, is expected to be online in summer 2010. It will be the single online application portal for the majority of permits required for exploration.
• Mineral Rights Administration System (MIRIAD): uses GIS technology to provide a state-of-the-art mineral claim staking system, accessible 24/7, from anywhere in the world, via the internet.
• The Natural Stone Assessment program (NSA): intended to encourage companies and/or individuals to conduct exploration and natural stone assessment in the province by taking new or under-developed prospects to a more advanced stage.
• Much of the province remains under-explored. Exploration trends include:
  • Labrador
    • Iron Ore - Labrador Trough
    • Uranium - Central Mineral Belt
    • Rare Metals - Central Labrador
  • Newfoundland
    • Gold - Central and Western Newfoundland
    • Base metals - Central Newfoundland
  • New Showings
    • Gold - Southern Newfoundland
    • Nickel - Western Newfoundland

 

Education & Research

• Memorial University, the largest university in Atlantic Canada, has more than 17,000 students and grants degrees in areas such as engineering, earth sciences and business.
• Memorial University has one of the largest and most diverse Earth Science departments in Canada - with leading-edge teaching and research facilities, it offers high quality undergraduate and graduate degree programs, including a PhD program.
• Vale INCO Centre for Innovation at Memorial University conducts research to develop new or improved methods and technologies for the exploration for and exploitation of mineral deposits.
• College of the North Atlantic, one of the largest post-secondary educational and skills training centres in Atlantic Canada, has 17 campus locations throughout the province and one in the Middle East State of Qatar. The college offers a comprehensive mining technician program, as well as many engineering technology and trades programs.
• The Newfoundland and Labrador Research and Development Council (RDC) is a new Crown entity created to enhance the province's research and development capacity.

 

Transportation

• The province is strategically positioned on international shipping lanes, with many deep-water ports with year-round accessibility.

 

Opportunity

• Continued recovery
• Stable or increasing metal prices
• Increased capital availability
• Recovery in exploration expenditures
• Renewed confidence in iron ore; two projects moving towards production
• Accelerated construction at Long Harbour
• Gold and rare metal projects attracting increased attention

 

Labour
Newfoundland and Labrador boasts a highly-skilled, productive and stable workforce. For more information, Click Here.

Incentives
There are a number of business and tax incentives available to businesses looking to locate to or expand in the province. For more information, Click Here.