Ontario Promotes Mineral Investment Advantages to the World
Ontario Government Promotes Investment, Supports Economic Development
Ontario is showcasing its status as a global mining power at this year’s Prospectors and Developers of Canada Annual Convention, taking place in Toronto.
Thousands of international delegates will visit the Ontario Pavilion at the annual, international mining conference to learn how Ontario’s rich mineral potential, excellent services and programs, strong mining supply and services sector and superior investment climate can benefit investors.
This high-profile conference attracts delegations from across the globe. It is an incredible opportunity to highlight the benefits of investing in Ontario’s dynamic mineral development sector and certainly to attract new investment. Continued investment will fuel future development, strengthening Ontario’s status as Canada’s leading mining jurisdiction and a global mining power, driving economic activity and job creation right here in Ontario.” Michael Gravelle, Minister of Northern Development and Mines
Ontario is the leading jurisdiction for the exploration and production of minerals in Canada and a major player across the world. Exploration expenditures have increased by 174 per cent since 2003, and Ontario has added 23 new mines over that time. Ontario’s mining supply and services sector provides expertise and services that are exported worldwide. More than 100,000 people across the province have jobs in industries associated with the mining industry.
Supporting mineral development is part of the government’s economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario’s greatest strengths — its people and strategic partnerships. The advancement of the mineral sector is part of the Ontario government’s Growth Plan for Northern Ontario.
Quick Facts
- With 42 mines currently operating in the province, Ontario is Canada’s largest producer of non-fuel minerals and a global mining force.
- In 2013, Ontario remained Canada’s leader in exploration spending with more than $600 million in mineral exploration and deposit appraisal expenditures, representing approximately 23 per cent of mineral exploration expenditures for all of Canada.
- There are more than 260 companies actively exploring 400 mineral projects throughout Ontario ranging from early exploration right through to feasibility stage projects.
- Capital investment in mining projects in Ontario has soared from $228 million in 2002 to $1.2 billion in 2013.
- Toronto is the mine financing capital of the world being home to the Toronto Stock Exchange and the TSX Venture Exchange. These exchanges list more than 1,600 mining companies (more than half the public mining companies in the world) and in 2013 they raised $6.9 billion of the world’s new mining equity capital.
