To help further position Newfoundland and Labrador as a stable, responsible supplier of critical minerals, and ensure appropriate policy frameworks are in place to sustainably develop its mineral resources, the Government of Newfoundland and Labrador is seeking public input on the development of the Newfoundland and Labrador Critical Minerals Strategy. The strategy will help unlock the full potential and maximize the value of the available critical mineral resources; encourage investments in research and development, and green projects; and, establish an enhanced regulatory framework that improves the province’s competitiveness in the global marketplace.
Several options are available for individuals and organizations to participate in the consultations including virtual sessions, an online questionnaire and an opportunity to provide a written submission. For further details, see the enclosed Backgrounder.
Global trends, including the need to reduce emissions and the increasing use of digital technologies, are helping transition the province into an increasingly green and innovative economy. As an essential building block to clean technology products such as wind turbines, solar panels, permanent magnets, and more, critical minerals are vital to this energy and technological transition.
Newfoundland and Labrador has tremendous potential in the area of critical minerals with at least 23 of the 31 critical minerals identified as being essential in clean energy applications. Five of these critical minerals are currently or have recently been mined, and 18 are in advanced exploration.
With exploration expenditures estimated to be over $240 million in 2022, the mining industry continues to deliver employment, minerals, and other social and economic benefits. The Provincial Government is committed to enable and support this work through programming targeted to attract investments and support prospecting, exploration, business development and innovation in the industry.
Quotes
“The demand for critical minerals is increasingly rising across the globe amidst the transition to green economy. Newfoundland and Labrador is well-positioned to maximize this opportunity to secure economic and social benefits for the province. Our government is committed to developing a provincial Critical Minerals Strategy that is inclusive and reflective of the needs of our people and communities while establishing policy frameworks that will attract investments to develop our resource potential.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“Newfoundland and Labrador is a major producer of critical minerals, with world-class exploration opportunities underway to support global energy transition. Mining Industry NL looks forward to the discussions, development and implementation of the province’s Critical Minerals Strategy, and see our industry move forward.”
Ed Moriarity
Executive Director
Mining Industry NL.
