Ontario investing $10.5M in mining firms
by CM Staff
Investments in mining supply and services companies will create jobs in the North, says the Ontario government
The Ontario government is investing more than $10.5 million in 28 companies that supply products and services to the mining industry.
This funding will help create or retain over 180 jobs.
Investments made through the Northern Ontario Heritage Fund Corporation (NOHFC), an Ontario crown corporation, include:
- $1 million for Coloured Aggregates Inc. in Warren to increase production by purchasing new and upgrading existing equipment
- $673,000 for Red Pocket Fertilizer to build a fertilizer granulation facility at the former Hedman Plant in Matheson
- $309,517 for ITEC 2000 Equipment Inc. in Rosslyn to expand operations by purchasing new equipment and building a warehouse
- $250,000 for SHYFTinc in Sudbury to create a computer simulation tool that helps mining clients understand their supply chain and identify areas for improvement
- $200,000 for Drennan Consulting and Diamond Drilling to establish a diamond drilling business in Manitouwadge
- $184,000 for Thunder Bay Off-Site Innovations Corp. to open a modular building and buildings component manufacturing facility in Thunder Bay
- $37,450 for Ionic Engineering in Lively to develop an electronic safety device that controls and isolates sources of energy from hazardous equipment.
“Promoting business expansion and the development of new technologies ensures a competitive and innovative mining sector in Ontario,” said Greg Rickford, Ontario’s minister of Energy, Northern Development and Mines, in a prepared statement. “Together with our partners, we are bringing good jobs and investment to the province and sending a signal to the world that Ontario is open for business, including the North.”
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