11 northern mining supply and service sector companies, including one in our area, are receiving provincial funding.
The Ontario government is providing more than $3.7 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to promote innovation, workplace safety, business development and job creation in the mining industry.
Over $140,000 is going to North Bay-based Nordic Minesteel Technologies.
The money will be used to develop and test a device that makes hoisting people in mine shafts safer and more economical.
“Our government continues to send a strong signal to the world that Northern Ontario is open for business, and we are using every tool at our disposal, like the NOHFC, to attract businesses and support economic diversification in the mining sector,” said Greg Rickford, Minister of Northern Development. “Ontario’s presence at this year’s Prospectors and Developers Association of Canada conference and trade show in Toronto – the world’s premier mineral exploration and mining convention – is proof of the opportunities that our targeted investments have unlocked across the North.”
Several companies in Greater Sudbury, Timmins, New Liskeard, Espanola and Kirkland Lake received funding.
On Sunday, Northern Ontario MPs, regional mayors, dignitaries, and others officially opened the FedNor-funded Northern Ontario Mining Showcase pavilion (pictured above) at the 2024 Prospectors and Developers Association of Canada’s (PDAC) International Convention.
The pavilion features 112 Northern Ontario businesses and organizations, including several from the North Bay area, highlighting the wealth of products, services and investment opportunities the region has to offer.
