Northern Life, Greater Sudbury’s community newspaper, gave Republic of Mining.com permission to post Bill Bradley’s article. www.northernlife.ca

Sustainability was the word most used by Parviz Farsangi, Vale Inco’s executive vice-president, at a talk at Science North Thursday evening.

“We all want to succeed in the long term, in every aspect of our business, not just in the short term,” said Farsangi.

He was speaking to a standing-room-only crowd at a Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Sudbury branch meeting in the Vale Inco Cavern.

“When it comes to (ore) reserves, no one can touch us. We have the world’s best nickel reserves in terms of sulphide and laterite deposits worldwide,” he said.

Those reserves, coupled with the company’s focus on investing in finding new mines and digging deeper into older ones, means the future for Greater Sudbury is bright, he said.

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This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario´s fortuitous blessing of rich geology has provided this province with a mineral endowment that has supported human development for generations.  Over the decades, there has been a steady evolution of the legislative framework that governs mineral development in the province.  Currently, the Mining Act is going through another review and consultations on proposed changes in the legislation are taking place across the province. 

While some changes in the Mining Act may be welcome and necessary to reflect shifts in societal expectations, at the Ontario Mining Association, we hope they are completed reasonably quickly so the new rules are clarified and communicated to provide certainty to investors and companies developing mining projects.  This is crucial because it can take years, or even decades, to develop a mineral deposit into a producing mine and investment decisions are often made years in advance.  As a result, any period of uncertainty in the regulatory system can disrupt the investment cycle and have far-reaching consequences on our future prosperity. 

Minister of Northern Development and Mines Michael Gravelle has said the purpose of the Mining Act review at this time is to strike the right balance.  The balance between responsible and sustainable mineral development for the benefit of all Ontarians while updating the mineral tenure system and the security of investments, Aboriginal rights related to mining, exploration activity on Crown land, land use planning in the Far North and surface rights/mineral rights issues.   Read the rest of this entry »