21/06/2014
NetNewsLedger
By: James Murray

NOACC Gets Funding for Mining Study

THUNDER BAY – BUSINESS - Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario (FedNor), announced today an investment to assist the Northwestern Ontario Associated Chambers of Commerce (NOACC) explore options for maximizing the potential of Northwestern Ontario’s mining supply and services companies.

The Ontario Government is pledging $1 billion dollars to develop the Ring of Fire and are seeking to get the federal government to match those funds.

“Mining is a pillar of Northern Ontario’s economy and our Government is committed to supporting initiatives that enable sector businesses to grow and succeed. This project aims to build on the region’s exciting mining growth potential to create business and job opportunities for the people of Northwestern Ontario,” states Greg Rickford

Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario

“The Harper Government investment is helping NOACC in reviewing and analysing successful business models from across Canada that could be used to further develop and grow the region’s mining supply and service sector, as well as assessing the financial viability of a regional association”.

“There is a recognized need to assist local mining supply and services companies in preparing to compete on a large scale,” said Nathan Lawrence President, Northwestern Ontario Associated Chambers of Commerce. “With FedNor’s support, we will determine the best organizational model to pursue that would support the region’s operating mines and make the most business sense”.

Quick Facts

The Northwestern Ontario Associated Chambers of Commerce is partnering with the Thunder Bay Community Economic Development Commission to undertake this initiative.

• The Harper Government investment of $22,500 announced today is provided through FedNor’s Northern Ontario Development Program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation throughout the region.
• Since 2006, through FedNor’s Northern Ontario Development Program, the Harper Government has invested more than $308 million in support of 1,500 projects. These investments have created more than 15,000 jobs throughout Northern Ontario.
  

NOACC Gets Funding for Mining Study