Funding will create new jobs and promote economic development in northeastern Ontario
NORTH BAY — The Ontario government is providing more than $560,000 to help three mining supply companies develop innovative technology, purchase new equipment and expand operations in North Bay. This investment will create 13 new jobs and promote economic development in the region.
“Our government is honoured to support Nipissing’s mining and manufacturing sector, which continues to create good jobs for our area,” said MPP Vic Fedeli. “As we continue to navigate the COVID pandemic, it is important to highlight Northern Ontario as a strong and competitive region to attract new business investments.”
The following funding is being delivered through the Northern Ontario Heritage Fund Corporation (NOHFC):
- Drillco Mining and Exploration is receiving $243,280 to build a prototype of a clean-tech, ultra-deep surface drill capable of drilling diamond core drill holes to depths of up to 3,000 metres.
- MinCon Canada Drilling Products Inc. is receiving $199,247 to purchase new equipment to expand its facility and improve shop productivity.
- Wagg’s Petroleum Equipment Ltd. is receiving $120,413 to build an addition to its facility in North Bay.
“Supporting local businesses as they expand and innovate will help create jobs, keep the north competitive and attract new investment,” said Greg Rickford, Minister of Energy, Northern Development and Mines. “These investments are helping businesses thrive, leading to economic diversification and providing real opportunities for northerners.”
The Northern Ontario Heritage Fund Corporation (NOHFC) promotes economic prosperity across Northern Ontario by providing financial assistance to projects – big and small, rural and urban – that stimulate recovery, growth, job creation and skills development. Since June 2018, the NOHFC has invested more than $309 million in 3,050 projects in northern Ontario, leveraging more than $1.1 billion in investment and creating or sustaining over 4,770 jobs.
Quick Facts
- There are 900 Ontario companies ready to provide world-class mining supply and services that help bring $10.7 billion in minerals to market every year in Ontario alone and billions more in countries worldwide.
- On February 11, 2021, the Ontario government launched new and improved NOHFC programs that support more projects in rural northern communities and make it easier for more people and businesses to apply. The programs target existing and emerging markets, provide more work opportunities for Indigenous people and address the skilled labour shortage in the north.
Quotes
“The Ontario government funding will greatly assist with the design, engineering, assembly, prototyping and testing costs of Drillco’s first clean-tech modular drill that has ultra-deep drilling capacity. Our innovative ultra-deep drill was built in North Bay and is currently being tested in Canada on a flagship gold project. Successful results are allowing us to showcase the new drill to the drilling industry.”
– Sylvain Brisson
President of Drillco Mining and Exploration
“We would like to thank the Ontario government for approving this funding towards the purchase of new equipment for our manufacturing facility. The purchase of the new Mazak-Variaxis I800 CNC machine and its fixtures will improve our production efficiency and increase our capacity to produce parts at a more affordable cost. We expect that our increase in productivity will create an opportunity for existing employees to expand their skilled trades experience and create new jobs in this field.”
– Charlene Ylimaki
General Manager of Mincon Canada
“The recent increase in mining activity throughout the north has grown the demand for Wagg’s expertise in installing and servicing fueling facilities. The Ontario government funding will help us to expand our office and manufacturing facilities in order to meet these new business opportunities.”
– Terry Ablett
President of Wagg’s Petroleum
SOURCE Province of Ontario
Leave a Reply