MANITOBA MINERAL DEVELOPMENT FUND SUPPORTS 11 MINERAL DEVELOPMENT PROJECTS IN NORTHERN MANITOBA
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Managed by Manitoba Chambers of Commerce, Fund has Leveraged Investments of more than $61 Million
To facilitate economic growth, job creation and strong communities in northern Manitoba, the Manitoba government is providing $2.1 million to 11 mineral development projects through the Manitoba Mineral Development Fund (MMDF) as managed by the Manitoba Chambers of Commerce, Economic Development, Investment and Trade Minister Jeff Wharton announced today.
“Manitoba continues to be a world leader in responsible mineral development,” said Wharton. “Our government would like to thank and congratulate the Manitoba Chambers of Commerce for identifying the latest round of funding recipients that will further Manitoba’s competitiveness in the mining sector, particularly in northern Manitoba, which will provide lasting advantages to local communities.”
The $2.1 million conditionally approved funding will result in close to $8.8 million in investment to support mineral exploration activities, drill programs and consulting services for community engagement, the minister noted.
“Mineral exploration and development in Manitoba continues to create economic benefits for the province and particularly for northern Manitoba,” said Chuck Davidson, president and CEO, Manitoba Chambers of Commerce, and board chair of the MMDF. “Since the program launched in July 2020, the fund has approved more than $9.8 million towards a range of mining and economic development projects across Manitoba, authorized 60 projects, created 283 short-term jobs, 152 long-term jobs, 152 partnerships, and leveraged investments of more than $61 million.”
The approved projects include:
- Bit Space Development (Flin Flon);
- Garner Gold Mines (Lac du Bonnet);
- King Global Ventures (Snow Lake);
- Lake Winn Resources Corp. (Flin Flon);
- Major Oil & Gas (Portage la Prairie);
- New Age Metals (Lac du Bonnet);
- NiCAN Limited (Snow Lake);
- Norway House Remote Camps (Norway House);
- St. Martin IOGC (Powerview-Pine Falls);
- Willeson Metals (Lynn Lake); and
- Wolfden Resources (Snow Lake).
“Norway House is pleased to be a recipient of the MMDF funding, which will allow for continued expansion of our capacity to support and participate in mineral exploration and mining development within Manitoba,” said Chief Larson Anderson, Norway House Cree Nation. “Increasing opportunities for First Nations’ employment and partnership in resource development will improve the relationship between the industry and those who have lived in northern Manitoba for generations. It is appropriate for those who live in northern Manitoba to share some benefits of resource development.”
The MMDF is a $20-million Manitoba government fund provides funding for northern economic development and mining projects that create Indigenous partnerships, increase local employment, and stimulate investment in northern Manitoba.
The Manitoba government has committed to an annual investment in the fund of up to six percent of tax revenues from the Mining Tax Act, which are collected at a graduated rate on profit generated by mining businesses, the minister noted.
For more information on the mineral development projects funded from the latest MMDF intake, visit https://mbchamber.mb.ca/wp-content/uploads/2023/05/MMDF-May-backgrounder-2.pdf.