Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
“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:
More information is available at https://novascotia.ca/NATR/meb/mrdp.asp.
“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.
