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.
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.
Newfoundland and Labrador has produced or mined over fifteen commodities and industrial mineral products which are sold nationally and internationally. The 2019 forecast gross value of mineral shipments for Newfoundland and Labrador totalled $3.7 billion, an increase of 29.4% from 2018.
Infrastructure – numerous ports in Newfoundland…its hard to find a mining project that is more than 100 miles from an ocean port.
More Infrastructure – 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 through the province.
Supportive Government – an excellent geological staff and amazingly robust and user-friendly government database which enables industry to make significant advances that eventually lead to more jobs and government revenues, supporting local communities. The Geological Survey of Newfoundland and Labrador has been gathering geological data since 1864.
Certainty and Clarity in the Assessment and Permitting Process – about 2 to 3 months to acquire an exploration permit
Business Friendly Jurisdiction ……..Fraser Institute – rankings on the rise, for good reasons. It’s a great place to do business, people want to grow businesses
Did we mention infrastructure and a great place to do business year round due to favourable weather conditions……commercial rate for power as low as 6 cents a kilowatt for industrial use, international airport and more.
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