Over 200,000 active mineral claims in N.L.

    Wednesday, 10 May 2023 14:03

    By Tonya Organ

    Big things ahead for the province’s mining industry.

    Over 9,000 claims have been staked to the end of April, with the Department of Industry, Energy and Technology currently dealing with over 200,000 active mineral claims. Globally, critical minerals are more in demand due to their role in the transition to a low-carbon and digital market. Newfoundland and Labrador has 23 of Canada’s 31 critical minerals. The exploration of rare earth minerals in Labrador, the discovery of lithium on the south coast, and the announcement that nickel from here will supply electric car manufacturer Tesla, demonstrates this province’s capacity to be a supplier-of-choice. Newfound Gold’s high-grade Queensway project includes a 500,000 metre drill program, while Marathon Gold’s Valentine Project will be the largest gold mine in Atlantic Canada with an estimated potential of four million ounces of gold. Newfoundland and Labrador was ranked the fourth most attractive area in the world for mining investment according to the Fraser Institute’s 2022 Annual Survey of Mining Companies. Strengthened by gold, iron ore and nickel, last year, $243 million was spent on exploration, the largest ever investment in exploration. Mineral shipments last year totalled $5.2 billion.

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Sunny intervals

      High: 22°C | Low: 17°C

    • Deer Lake

      Medium-level cloud

      High: 24°C | Low: 17°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Party on the Hill 2025, Massey Drive

      Still time to get your tickets tonight at the Massey Drive Town Hall. Party on the Hill is Saturday July 26. Gates open at 6pm

    • Corner Brook In Council

      Corner Brook City Council Meeting , July 21, 2025

      Corner Brook City Council Meeting , July 21, 2025

    • Sunday Night Geek

      Sunday Night Geek, July 20, 2025

      Sunday Night Geek, July 20, 2025