“We are a mining-friendly province”. That was the underlying message delivered by Ontarian officials visiting the conference under the draw of the Australian Trade Commission.
Ontario Ministry of Northern Development and Mines deputy minister David de Launay and trade and investment advisor Paul Bradette spoke of the parallels between the Australian and Canadian mining industries and the promise of opportunities developing in the eastern Canadian province.
“We have so many things in common,” de Launay said.
“Some people would suggest we compete a bit and maybe that’s true but I think there’s lots of room for collaboration in a number of areas.
“Innovation is really important. There’s lots that can be done.”
Although Canada has been hit by similar commodity-price woes to Australia, Bradette said the future looked promising.
According to the trade advisor, who bears a striking resemblance to a young Beau Bridges, Ontario is the Canadian leader in minerals production with 43 operating mines and is in the top 10 in terms of exploration expenditure worldwide, with more than 300 exploration projects underway and 35 advanced-stage operations.
While a majority of operations in the province are underground, Bradette said open-pit methodologies were on the rise, needing an estimated $87 million worth of imported supplies a year during construction and a further $65 million in imported goods and services.
Also on the list of drawcards for the METS sector, as far as Bradette was concerned, were favourable research and development grant incentives and low taxes.
“In the G7 countries we are number one in terms of corporate taxes,” he said.
Looking to the future, both de Launay and Bradette referenced the “ring of fire” chromite discovery in northern Ontario, regarded as the province’s most significant mineral discovery in almost a century.
Clocking in as the largest and highest grade undeveloped chromite deposit in the world, the proposed development has the potential for decades of production.
Besides chromite, Ontario also plays host to gold, nickel, copper, platinum, diamond, graphite, rare earth elements, iron, magnesium and zinc.