Zone16 Mining

The mining industry faced a difficult year in 2009. The global economic downturn placed significant downward pressure on both demand and prices for mineral products. This caused provincial mining producers to reduce production and labour requiremnets. Market pressures improved somewhat in the latter part of 2009, and lately there have been many signs of improvement. As a result, the outlook for the mining industry has improved considerably. Demand for minerals is expected to increase and mineral prices are expected to strengthen in 2010 as the world economy continues to recover from the recesssion.

Newspar is proceeding to reactivate the fluorspar mines located in St. Lawrence on the Burin Peninsula. Reactivation of the former fluorspar mine will include underground mine development of previously mined veins, upgrades to an existing mill, construction of a tailings management facility, and construction of a new marine terminal including a deep-water wharf capable of accepting ships with carrying capacities up to 60,000 tonnes. The Newfoundland and Labrador Government has committed a repayable contribution of $10 million towards the terminal.

In 2009, SRDC assisted the Town of St. Lawrence in acquiring funds to complete a labour market study. The objectives of the study were to: complete a human resource profile, including the HR requirements of the mining industry and supply/service sectors, complete an inventory of trends and opportunities available in the mining industry and increase awareness of the residents/business/community/entrepreneures of the trends and opportunities within the sector.

Mine & Energy Industry in our region...