The Ontario government announced that investment in mineral exploration in the province surpassed $1 billion for the first time.
Ontario leads all Canadian jurisdictions in mineral exploration, with 26 per cent of the country's exploration investment activity located within the province.
“Record levels of investment in mineral exploration are a product of our world-class geological endowment and our superior investment climate,” Northern Development Minister Rick Bartolucci said in a news release. “The job creation and economic activity generated by the mining industry are important as our government works to eliminate the deficit and deliver key services to all Ontarians.”
It's estimated a new mine can generate 2,280 jobs and contribute $278 million to the economy. In 2011, Ontario's mining sector accounted for 21 per cent of the country's mineral production, with a value of $10.7 billion while sustaining 27,000 well-paying jobs.
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