Nova Scotia’s Mining Association applauds Government push for a Mineral Resources Development Fund
“The Mineral Resources Development Fund is a smart, strategic investment in the future of our industry,” said Sean Kirby, Executive Director of MANS. “The provincial government has made a series of important policy decisions in recent years that are helping our industry grow and create jobs for Nova Scotians.
The government’s support helped us open three major new mines in 2017, representing hundreds of new jobs and hundreds of millions of dollars in new investment in the province.”
The budget includes $700,000 for the MRDF in 2018-19. The MRDF is expected to have seven funding streams this fiscal year:
Prospecting and Exploration Grants: Maximum $20K
Shared Funding Exploration Grants: >$20K up to $200K (50/50)
Marketing Grants
Research Grants: Maximum $90K
Education, Outreach, and Engagement Grants: Maximum $30K
Innovation Grants: Maximum $200K
Major Project Grants: Maximum $500K or higher if required
“The Nova Scotia Liberal Party promised in its 2017 election platform to fund the MRDF at $1.5 million per year,” said Kirby. “The funding in this year’s budget is an excellent start but we look forward to the program’s budget increasing to $1.5 million next year.”
MANS has applauded other recent government decisions affecting the mining and quarrying industry, including the fall 2017 budget extending the fuel tax rebate to the industry and the 2016 overhaul of the Mineral Resources Act. These policy changes are reducing red tape and unnecessary costs, while continuing to hold the industry to the highest environmental and operational standards.
Nova Scotia’s mining and quarrying industry employs 5500 people and generates $420 million per year in economic activity.
source: Mining.com
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