Newfoundland

Newfoundland is a province rich in natural resources, offering a diverse economy with a strong focus on the mining and exploration sector. This sector plays a vital role in the province’s economy, providing employment opportunities to thousands of people.

Mining and Exploration in Newfoundland

The major industries in Newfoundland and Labrador include offshore oil and gas, mining, forestry, and fishing. More than fifteen mineral commodities have been produced or mined in the province. Five metal mines currently produce iron ore, nickel, copper, cobalt, and gold. Other operations mine pyrophyllite, limestone, and dolomite, among other commodities.

Newfoundland and Labrador have a large and diversified minerals industry that provides a wide variety of commodities to the world market. This industry ranges from world-class iron and nickel mines, which supply the steel industry, to producers of industrial stone such as granite, slate, and limestone used for building construction and aggregate.

Commodities Explored and Mined

The province is home to one of Canada’s largest and oldest mining industries, and it continues to be a major contributor to the province’s economy, particularly in rural areas. More than fifteen mineral commodities have been produced or mined in the province, with iron ore, nickel, copper, cobalt, and gold being the most significant. Other operations mine pyrophyllite, limestone, and dolomite, among other commodities.

Geography and Demographics of Newfoundland

Newfoundland and Labrador is a province of Canada on the country’s Atlantic coast in northeastern North America. The province has an area of 405,212 square kilometres and a population in 2024 of 540,552, with approximately 95% of the provincial population residing on the Island of Newfoundland.

Newfoundland and Labrador have three cities that had a total population of 152,335 in the 2021 Canadian Census. The provincial capital of St. John’s is the largest city by population and land area, with 110,525 residents.

In 2022, Newfoundland and Labrador’s nominal GDP was estimated at $40.7 billion, or 1.4 per cent of Canada’s nominal GDP.

Newfoundland and Labrador has a rich history in the resources industry, and the government is extremely supportive for further growth in the sector. This strong government support, coupled with world class transport infrastructure, skilled workforce, as well as low cost grid power access (hydro) has resulted on the jurisdiction being ranked 8th (out of 77 jurisdictions around the world) based on their geologic attractiveness and government policies.