The Manitoba Mineral Development Fund (MMDF) is a $20M provincial fund, administered by the Manitoba Chambers of Commerce, that provides funding for northern economic development and mining projects that create Indigenous partnerships, increase local employment, and stimulate investment in Northern Manitoba.
In October 2019, the Government of Manitoba announced a $20 million investment to create the fund and the Manitoba Chambers of Commerce officially launched the program in July 2020.
Our Vision & Mission
The purpose of the Manitoba Mineral Development Fund is to support projects that build capacity and create economic development opportunities in northern Manitoba.
The Manitoba Mineral Development Fund aims to be a leader in rural and northern economic development programs. We strive to be the most innovative northern economic development program in Canada. We go beyond funding projects and aim to break down barriers to economic development by being innovative and flexible.
Values
Chuck Davidson
President & CEO of the Manitoba Chambers of Commerce Chair of the Manitoba Mineral Development Board
Message from Chair
In the past year, the Manitoba Chambers of Commerce (MCC) entered into a new three-year agreement with the Province of Manitoba. In 2022, the aim of the Manitoba Mineral Development Fund (MMDF) was to focus on mineral exploration and the mining industry. In 2022, MMDF approved $4,183,450 in project funding, mobilizing a range of mining and economic development projects primarily in northern Manitoba. In terms of impact, this investment resulted in 77 new short-term jobs, 52 long-term jobs,24 project partnerships, and over $31 million in leveraged project funding. The Snow Lake Area ($1.4M), Flin Flon Area ($950K), and Lynn Lake ($600K) received most of the project funding.
About 74 per cent of the fund went to helping mining companies undertake geological mapping, geophysical surveys, and diamond drilling, all of which were critical to identifying and quantifying mineral resources in Manitoba.
With this momentum, MMDF took the opportunity to implement several initiatives to grow the Fund’s capabilities. This included participating in the Annual Prospectors and Developers Association Convention (PDAC) in Toronto to promote the Manitoba Mineral Development Fund globally and solidify the relationships with the Manitoba-based companies at PDAC.
To leverage the Fund’s impact, MMDF partnered with the Government of Canada’s Strategic Partnership Initiative (SPI) Program. This aimed at increasing economic benefits to Indigenous communities related to mining activity in Manitoba. The SPI provides a way for federal partners to coordinate their efforts, reduce administrative burden and pool resources in support of Indigenous communities. Joint projects are being focused on workforce development, capacity building and business development.
In terms of the Fund itself, in 2022 the Fund grew with contributions from the Province of Manitoba and investment income. The fund balance at the end of 2022 was $ 17,354,854.
On behalf of the MMDF Board, we would like to thank the Application Review Committee for their knowledge and commitment to ensuring the projects we invest in have the potential to benefit communities in the north. We continue to look forward to assisting the Province of Manitoba in supporting Indigenous communities, the mining industry, municipalities, and northern businesses to grow Manitoba’s northern economy in 2023.
