Government of Canada investing $809,000 to support mining innovation in North Bay
News release
FedNor’s investment will help with the development of innovative explosives technology for use in the mining sector
March 1, 2024 – North Bay, ON – Federal Economic Development Agency for Northern Ontario – FedNor
Anthony Rota, Member of Parliament for Nipissing–Timiskaming, today announced an unconditionally repayable contribution of $809,000 for Nexco Inc. to help with the development and production of new mining explosives technology. The announcement was made on behalf of the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
The funding, provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, will allow Nexco Inc. to design and construct a small scale pilot plant to modify explosive grade ammonium nitrate during the manufacturing process to produce a water-resistant ammonium nitrate particle. The pilot plant will help the company demonstrate the advantages and cost savings of their unique ammonium nitrate product over traditional commercial explosives currently available on the market.
In addition, the funding announced today will help with the design and acquisition of the equipment needed for both Nexco’s laboratory and demonstration plant, which will be used for ongoing testing of their innovative products. The project is expected to create 37 jobs and, once fully complete, it is anticipated that Nexco would be able to produce enough product to supply 11 percent of the North American market for ammonium nitrate.
Strong economies need strong and growing local businesses. That is why the Government of Canada is proud to be investing in projects like this, which support innovation and technology adoption, while helping a local business scale up and create high-quality jobs in Northern Ontario.
Quotes
“Supporting innovation in the mining industry is critical to building a strong and prosperous Northern Ontario. Today's announcement will help Nexco design new technologies that will not only create new jobs today, but help support the mining sector for years to come. This is another piece of our plan to build an economy in Northern Ontario that works for everyone, not just the few.”
- The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor
“The Government of Canada is working hard for Northern Ontario. Today’s investment will ensure the region’s continued excellence in the mining industry by supporting innovation in North Bay and across northeastern Ontario. I’m looking forward to following Nexco’s progress over the coming years as they work to build their business and create good, sustainable employment right here in Nipissing-Timiskaming.”
- Anthony Rota, Member of Parliament for Nipissing–Timiskaming
“I’m excited that FedNor is supporting our revolutionary mining explosives technology. The funding is helping us scale-up and innovate, and will help us bring to market a greener and more cost-effective solution for blasting in the mining industry. We’re proud to be investing in our community here in Northern Ontaro and making a difference in the mining explosives industry.”
- John Burrows, President, Nexco Inc.
Quick facts
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The investment announced today is provided through FedNor’s Regional Growth Through Innovation Fund (REGI), which supports the growth of Northern Ontario businesses, their expansion into new markets, and their adoption of new technologies and processes, and the now-closed Jobs and Growth Fund (JGF), which provided funding to businesses and organizations to help create jobs and position local economies for long-term growth.
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Nexco Inc. is a North Bay-based business founded with the goal of introducing new and revolutionary explosives technology that would improve the cost effectiveness of mining operations by decreasing blasting costs and improving handling and environmental properties.
- Ammonium nitrate is commonly used in mining as a critical part of the blasting process.
Associated links
Contacts
Jennifer Kozelj
Acting Press Secretary
Office of the Minister of Indigenous Services and Minister responsible for FedNor
jennifer.kozelj@sac-isc.gc.ca
Federal Economic Development Agency for Northern Ontario
Media Relations
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