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“The estimated activity in 2022 projected to result in over $5.4 billion in mineral shipments, $189 million in exploration expenditures and employment of approximately 8,800 person years,” a recent news release stated. Lithium is used in the manufacturing of rechargeable batteries, such as those used in electric vehicles, and has been identified by the Government of Canada as a critical mineral.
“When you think about the juniors you are often talking about the on-the-ground individuals who are out there traipsing through the province looking for the mineral deposits that are out there. In many cases, these are the people who do the discovery and then it leads further on up the chain," said Andrew Parsons, Minister of Industry, Energy and Technology.Andrew Parsons, Newfoundland and Labrador's minister of Industry, Energy and Technology.
According to government documents, Newfoundland and Labrador has additional critical minerals, including tungsten, molybdenum, uranium, vanadium and zinc. The airborne geophysical survey program will help the province identify areas for potential critical mineral exploration. The surveys capture data remotely from areas where the geology is not well understood due to poor bedrock exposure.