Investing in Next Generation of Canadian Mines

Premier Ford announces $10 million investment to help junior exploration companies unlock new mining development

As part of its plan to protect Ontario and build a more competitive, resilient and self-reliant economy, the Ontario government is supporting the mines of the future by investing $10 million through the newly overhauled Ontario Junior Exploration Program (OJEP), including the launch of an Advanced Exploration Stream starting next year. This investment will help junior exploration companies and licensed prospectors find future mines by covering eligible costs for mineral exploration and development. Premier Ford made the announcement at the Ontario Mining Association Annual General Meeting.

As the world looks for stable, responsible sources of critical minerals, Ontario’s leadership in responsible resource development is unlocking new economic opportunities and investment across northern Ontario to bolster Canadian self-reliance, boost job creation and secure made-in-Ontario supply chains, while securing the province position as the number one jurisdiction in Canada in exploration and deposit appraisal expenditures.

“With the potential to add $22 billion dollars and 70,000 good-paying jobs to our province’s economy in the Ring of Fire alone, our critical minerals sector is key to building a stronger, more competitive and more self-reliant Ontario,” said Premier Doug Ford. “By investing $10 million to support early exploration, our government is helping unlock new mineral discoveries that will drive economic growth across northern Ontario for decades to come.”

Companies face significant challenges attracting investment, particularly when operating in remote areas with difficult terrain and high upfront costs. By helping offset these early-stage expenses, Ontario is supporting prospectors and mining companies as they advance projects that can drive long-term economic growth and strengthen the province’s mining sector. Ontario currently leads Canada in exploration spending and to date, OJEP has committed nearly $45 million in funding to 280 companies – 201 of them exploring for critical minerals; leveraging over an additional approximate $80 million in investment from industry.

OJEP helps cover up to 50 per cent of eligible costs for exploration and development projects. With enhanced funding streams introduced last year, licensed Ontario prospectors can access up to $65,000 per project (including enhanced Indigenous Participation Support) and junior mining companies will be eligible to receive up to $215,000 per project (including enhanced Indigenous Participation Support). Funding will be provided to approved projects on a first-come, first-served basis.

“To ensure Canada is a more economically sovereign and strong country, we are investing in the next generation of mines to grow our economy and create jobs,” said Stephen Lecce, Minister of Energy and Mines. “Under Ontario’s plan, 35 significant mineral projects are underway with the potential to reach production over the next decade. Ontario slashed permit timelines by 50 per cent, emerging as Canada’s best jurisdiction and the second on earth for mining investment. We are building momentum today, announcing a dedicated Advanced Exploration Stream to get projects off the ground and get shovels in the ground faster.”

OJEP is a key initiative in the government’s plan to update its Ontario’s Critical Minerals Strategy to position the province as a reliable global supplier of responsibly sourced critical minerals and build fully integrated, made-in-Ontario supply chains. As the global demand for critical minerals needed to manufacture batteries, modern defence technologies and advanced manufacturing continues to grow, Ontario has the deposits, skilled workforce, expertise and business-friendly investment climate to secure the province’s place as the most competitive jurisdiction in the G7 to invest, create jobs and do business.

Quick Facts

• This investment is apart of 2026 Ontario Budget: A Plan to Protect Ontario.
• Ontario is also a world class mining destination and among the top 10 jurisdictions in the world for mineral exploration, and the top location for mineral exploration spending in Canada.
• Applications for the new intake of OJEP will be accepted online through Transfer Payment Ontario (TPON), beginning on May 21^st, at 10:00 a.m. EST and closing on June 26^th, at 4 p.m. EST.
• Ontario’s mining sector is a significant economic driver, contributing approximately $14.4 billion to Ontario’s GDP annually and supporting around 74,000 direct and associated good-paying jobs.
• The most recent intake of OJEP supported 67 exploration projects with a $10 million provincial commitment.
• There are currently 37 active mining operations in Ontario, with the majority located in Northern Ontario. Of these operations, nine are base metal (nickel, copper, zinc) mines.
• Ontario’s abundant supply of critical minerals includes the vast reserves found in the Ring of Fire, an area almost 5,000 square kilometres in size located approximately 500 kilometres northeast of Thunder Bay.
• The province is providing nearly $3.1 billion in loans guarantees that would support Indigenous participation, partnership and ownership in Ontario’s critical mineral supply chain.
• This initiative supports Ontario’s Critical Mineral Strategy which seeks to secure the province’s position as a reliable global supplier of responsibly sourced critical minerals.