Investment May Boost Ore Industry in Newfoundland and Labrador

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The Research & Development Corporation requested $10 million in proposals in April 2010. (Image: Svilen Milev)
The Research & Development Corporation requested $10 million in proposals in April 2010. (Image: Svilen Milev)

FINANCE

  • More than $1 million invested in ore
  • Investment in microscope will enhance ore analysis
  • Mineral industry has predicted $4.7 billion shipment value for 2011

The Research & Development Corporation of Newfoundland Labrador and the Iron Ore Company of Canada have invested more than $1 million in ore.

The investment has allowed Memorial University of Newfoundland to acquire a Field Emission Scanning Electron Microscope, which will enable researchers to identify minerals, and enhance them after the minerals have been mined.

The funding for the microscope was part of a call for investments for research and development that was launched in 2010. The collaboration is predicted to expand the mineral industry in Newfoundland and Labrador, according to Susan Sullivan, the Minister of Innovation, Trade and Rural Development.

The funding combines the efforts of the university and business in the mineral industry, which has a predicted $4.7 billion value in shipments this year.

The mineral industry in Newfoundland is one of the top industries in the area. The microscope may help to lead to enhanced recovery of ore in addition to analysis of the mineral once it has been mined. The new material is now part of Memorial's Core Research Equipment And Instrument Training (CREAIT) Network.

Ore Pellet Leader

The Iron Ore Company of Canada manufactures the largest amount of ore pellets in the world. The company has a mineral pelletizing operation as well. In addition to owning mines, the company owns a railroad, connecting mines to its port in Quebec.

The Research & Development Corporation requested $10 million in proposals in April 2010. As part of the competitive challenge, the proposals were to focus on research and platforms used to aid research.

Memorial University has about 18000 students, and promotes local research and community service.

Key Players – Mining Market in Canada

  • Key players in the mineral industry include: Barrick Gold Corporation, Cameco Corporation,? Goldcorp Corporation, Western Coal Corporation, Grande Cache Coal Corporation, Kinross Gold Corporation, Inmet Mining, Potash Corporation, Teck Resources, Ltd., and Sherritt International Corporation.

Key Statistics – Mining Market in Canada (Source: Natural Resources Canada)

  • Mineral value in Canada has declined by over 30% year-on-year to about CAD$32 billion.
  • The production of metallic minerals dwindled by 28% in Canada.
  • The largest ore producing area is the Labrador Trough, with 99% of ore produced in Canada.

By C. Williams for
C. Williams is a journalist based in the United States. She has been covering the news for over a decade.

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