THE GOLD GUIDE TO THE ROCK
Mining is one of Newfoundland and Labrador’s largest and oldest industries, and a major contributor to the economy of the province, especially in rural areas. Known for its signature colourful houses and personalities, Newfoundland’s history dates back centuries. Now, the island is seeing a blossoming gold sector.
TOP TEN REASONS
TO INVEST IN NEWFOUNDLAND
IT’S A MODERN-DAY GOLD RUSH
Discoveries, drilling, mining exploration and staking have all increased dramatically in the past year giving rise to emerging gold district.
HISTORICAL INDUSTRY SUCCESS
Mining is one of Newfoundland and Labrador’s largest and oldest industries, and a major contributor to the economy of the province, especially in rural areas. In 2019 mining represented 5.5% of the province’s GDP. Newfoundland and Labrador is second in iron ore production next to Quebec, third in nickel production behind Ontario and Quebec, and fourth in copper production behind British Columbia, Ontario, and Quebec.
OVER FIFTEEN COMMODITIES HISTORICALLY PRODUCED
Newfoundland and Labrador has produced or mined over fifteen commodities and industrial mineral products which are sold both nationally and internationally. The 2019 forecasted gross value of mineral shipments for Newfoundland and Labrador totalled $3.7 billion,
an increase of 29.4% from 2018.
EASY ACCESS TO PORTS
Numerous ports in Newfoundland… it’s hard to find a mining project that is more than 100 miles from an ocean port.
Roads and the Trans-Canada Highway allow access to projects across Newfoundland and access to many local communities which host comfortable accommodations
for exploration and mining crews alike..
SKILLED MINING LOCAL LABOUR FORCE
People from Newfoundland are known around the world for their mining skills that are taken abroad. Working in Newfoundland allows the local labour force to employ their skills while enjoying the comforts of home. Approximately 7,000 people now enjoy high-paying jobs throughout the province.
An excellent geological staff and amazingly robust and user-friendly government database which enables the industry to make significant advances that eventually lead to more jobs and government revenue, supporting local communities. The Geological Survey of Newfoundland and Labrador has been gathering geological data since 1864, making it easier for new players to acquire great data.
A CLEAR ASSESSMENT & PERMITTING PROCESS
It takes about 2 to 3 months to acquire an exploration permit, something that many other jurisdictions can’t match.
The Fraser Institute’s ranking for Newfoundland and Labrador is on the rise, and for good reason. The province is a great place to do business and this can be seen through it’s high Policy Perception Index score.
Newfoundland and Labrador is great place to do business year-round due to favourable weather conditions, the commercial rate for power being as low as 6 cents a kilowatt for industrial use, an international airport, and more.
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