TIMMINS, ONT. – The Province of Ontario is investing $13 million through the (OJEP) to help 84 junior mining companies finance early exploration projects.
Launched in 2021, OJEP helps these companies cover eligible costs for critical and precious mineral exploration and development, states a release. Through the fifth round of funding, OJEP has committed the funding to 84 projects – 62 of them focussed on the exploration of .
The program covers up to 50 per cent of eligible costs and up to a maximum of $200,000 per project. It also provides up to $10,000 to cover 100 per cent of eligible costs per project supporting Indigenous employment and business opportunities.
To date, Ontario has committed $35 million over four years to the program. To be eligible to apply for funding, junior mining companies must have a market capitalization of up to $100 million, or a comparable value, if they are privately owned, the release reads.
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