Q: What else could Ontario…

Q: What else could Ontario do to promote the exploration for and development of critical minerals in order to enhance investment?

A1: Recommend the following promotional areas of focus:

• Provincial listing of Indigenous partnerships;
• Provide clear reference materials on how to navigate the legislative network;
• Outward facing marketing showcasing new CM projects that have a minimum preliminary economic assessment (PEA) with positive economic potential (>20% post tax IRR);
• that have a minimum preliminary economic assessment (PEA) with positive economic potential (>20% post tax IRR);

A2: Commit to research the impact and benefits of the Far North Act on Ontario’s Northern Economy

At present under the Far North Act development of mining reserves is prohibited and MNRF is stalled without buy-in from First Nation communities to finalizing Land Planning initiatives with fear of losing input or flexibility over traditional lands Removal or amendment of the Far North Act will assist the responsible development of critical minerals in the north.
Recommendation: Remove the prohibition on mine development from the Far North Act.

A3: Research Red Tape Reduction for Mining Leases in Ontario

The process for acquiring Mining Leases in Ontario is expensive, slow, cumbersome, and out of step with the Closure Planning process that ensures responsible development.

Recommendation: Link the issuance of Mining Leases directly to Closure Plan approval. Upon completion of appropriate exploration, a company could apply for and receive an acknowledgement that their project qualifies for a Mining Lease. The Mining Lease would be issued upon the filing of the Closure Plan. The requirements of a Mining Lease would be incorporated into the requirements for a Closure Plan.