In 2021, the focus for the Manitoba Mineral Development Fund (MMDF) was impact and improvement. While the COVID-19 pandemic persisted, MMDF continued to build partnerships and make key improvements to the program. In 2021 MMDF approved $2,216,592 in project funding, mobilizing a range of mining and economic development projects primarily in northern Manitoba. In terms of impact, this investment will result in 53 new short-term jobs; 6 long term jobs; 25 project partnerships, and over $6M in leveraged project funding.
With this momentum, MMDF took the opportunity to implement several initiatives to grow the Fund’s capabilities. This included launching a new website to create a hub for information on program updates, approved projects, and community/industry resources along with an online application portal to make the application process seamless for applicants. To improve the Fund’s impact, MMDF also partnered with key organizations to support projects such as the Rock Circle Radio Show, Youth Entrepreneurship Start Up Challenge, and our Grant Writing Assistance program.
In October 2021, the MMDF team travelled to northern Manitoba to meet with project proponents to continue to build relationships in the north. In 2021, the Fund itself grew with contributions from the Province of Manitoba and investment income. The Fund balance at the end of 2021 is $ 21,252,310, exceeding the Province of Manitoba’s initial investment of $20M.
On behalf of the MMDF Board, we 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 2022.