Funding of over $3.4 million will help eight businesses create 74 local jobs through the Northern Ontario Heritage Fund Corporation.
The largest amount, $1,100,000 goes to Nexco to develop "innovative explosive products for the mining and construction industries" that are greener for the environment.
“Nexco is dedicated to developing next-generation explosives that could revolutionize not only Ontario's mining industry but also create global opportunities," says President John Burrows in a news release.
"These innovative explosives promise cost savings, improved performance, and enhanced environmental and safety benefits. NOHFC's support has been vital in helping us bridge the gap between concept and commercial production as we continue to explore this promising technology.”
The NOHFC is funding seven other projects.
- $775,000 for Corexplore Drilling Services to purchase two additional drills and supports equipment for surface mining and exploration projects.
- $524,000 for Martel & Mitchell Rehabilitation to purchase equipment, renovate the existing facility and build an adjoining new workspace.
- $400,000 for Redpath Mining to build an additional facility to increase repair work capacity
- $296,000 for Bur Oak Resources Inc. – to build a net zero manufacturing facility
- $200,000 for the Capitol Centre to replace aging infrastructure
- $94,000 for Fur Harvesters Auction Inc to renovate and purchase equipment.
- $90,000 for Mincon Canada to purchase equipment and renovate their facility.
