The Manitoba government has provided 1.7 million dollars for the latest projects receiving support through the Manitoba Mineral Development Fund which is managed by the Manitoba Chambers of Commerce. The MMDF provides funding to communities and businesses to advance mineral exploration projects.
The projects approved in this latest round of funding include Boreal Gold and Callinex Mines Flin Flon, Foremost Lithium Snow Lake and 55 North and Alamos Gold Lynn Lake.
Financial assistance from the fund can include onetime grants for activities that help advance new mining opportunities and outreach to First Nations for collaborative resource developments.
Economic Development Minister Jeff Wharton notes the government has committed to annual investment in the Mineral Development Fund of up to six percent of tax revenues from the Mining Tax Act which are collected on profit generated by mining businesses. Since its inception in 2020 it has approved 50 mineral exploration projects for a total of 7.7 million dollars in funding.