Mining Opportunities between Ontario and India

Indo Canada Chamber of Commerce organized a seminar on Mining Opportunities between Ontario and India, on Wednesday 17 February 2016 at the ICCC headquarters. Mr. Devin Cranston, Trade and Investment Marketing – Ontario Ministry of Northern Development and Mines, was the guest speaker at the seminar.
Devin Cranston has been with the Ministry of Northern Development and Mines for 15 years. Prior to that, he worked in surface and underground mineral exploration and in mine production and development. While with the Ministry, Mr. Cranston has worked for the Ontario Geological Survey, the Geosciences Laboratories the Mines Rehabilitation Inspection and Compliance Section, the Abandoned Mines Group, Mineral Development and Lands Branch, Mining Lands, Mining Lands Dispositions, Information and Marketing Services section and the Mineral Sector Analysis Unit.

In his current role within the Trade, Investment and Marketing Unit, Mr. Cranston focuses on promoting mineral sector investment opportunities to both domestic and international investors.

His presentation focused on the following key topics:

Overview of mineral exploration and mining in Ontario
Summary of Ontario’s mining supply and services sector
Update on industry activities, current challenges and future opportunities
Identifying and capitalizing on emerging minerals sector opportunities between India and Ontario
In his presentation, the Cranston said that Ontario has a long experience of mining in different minerals and metals, and in developing cutting-edge technology to mine. He said that Ontario is home to some of the largest and most successful mining companies in the world. The province is a leader in mineral production with 27 percent share in the total Canadian mineral production followed by Quebec, Saskatchewan, British Columbia and others. The major metals are nickel, gold, copper, zinc and platinum and are of $ 475 billion (2014) value. Ontario is also a leader in exploration spending and working on the advances mineral projects.

The Minister spoke about the Ring of Fire, and described it as the most significant and compelling discovery of mineral deposits in Ontario in over a century. The region has massive undeveloped surface deposit of chromite. It has very high grades, excellent chrome to iron ratios, Ni-Cu-PGM deposits as well. The Minister said that exploration to date has likely only scratched the surface; Noront Resources Ltd. has consolidated much of the known resources in the area.

India with its highest economic growth in the world is the future market for the minerals. A MOU between the Ministry of Mines of the Republic of India and the Ontario Ministry of Northern Development and Mines was signed in July, 2010 is a strategic tool that provides the groundwork for further relationship building and business development between Ontario and India.

India produces 89 different minerals and has more than 3,000 operating mines, of which approximately one-third are privately owned. In order to meet the needs of its growing demand, Indian government has opened up its mining to direct foreign investment through the development of a new mineral policy, which will reduce government regulations and promote private sector involvement.

Ontario is committed to maintaining a formal relationship regarding geology, mineral resources, mineral exploration, innovation and technology with India. The key to moving forward will be in identifying areas of mutually beneficial interest.
Mr. Sanjay Makkar, ICCC President, welcomed the participants, and said mining is one of the key focus sector in the chamber’s mandate. “We have had a long tradition of working on this sector to develop economic relations in mining and mining technology between Canada and India, and especially Ontario and India.”

Mr. Pappur Shankar, ICCC’s Director for Energy and Mining introduced the speaker to the participants.