Ontario and Nevada have signed a formal agreement to enhance the mining industry in both of those jurisdictions.
Nevada is located in the western United States and has a long history of mining, especially for silver (Comstock Lode). Nevada is also strong in mining copper, gold, lithium and molybdenum; minerals that are critical to the battery electric vehicle industry.
Ontario Premier Doug Ford and Nevada Governor Joe Lombardo signed the agreement Wednesday during a ceremony at Queen’s Park. They were joined by Vic Fedeli, Ontario’s minister of Economic Development, Job Creation and Trade, and a Nevada-led delegation that includes other government leaders, said a news release.
“This new agreement will help Ontario and Nevada attract new investments and provide businesses and entrepreneurs opportunities for new markets for their products and services,” said Ford.
Nevada governor Lombardo said the agreement was based on the strong mining sectors that exist in his state and in Ontario.
“It is in the mutual best interests of Nevada and Ontario to cooperate and work together to expand our economic partnership. Working together we can maximize emerging export opportunities,” said Lombardo.
The Sudbury-based MineConnect organization has been working in recent years on forming partnerships with American mining companies and mining supply firms, especially in Nevada.
Former MineConnect executive director Paul Bradette of Sudbury told the 2022 annual convention of the Prospectors and Developers Association that Ontario and Nevada have much to offer each other in the way of business partnerships and other ventures.
MineConnect in Sudbury has sponsored several trade delegations to Nevada and contributed to the creation of MineConnect USA, which is a not-for-profit association which represents a consortium of mining supply and service companies from Northern Ontario.
The new agreement between Ontario and Nevada will allow both jurisdictions to work together to identify opportunities for strategic partnerships and joint trade promotion to help companies in both jurisdictions compete in international markets, said the news release.
More than $2 billion (CAD) in trade moved between Ontario and Nevada last year, said the release.
“Our government is collaborating on a new partnership that will strengthen Ontario’s relationship with Nevada and help both our jurisdictions remain competitive,” said Minister Fedeli.
“We look forward to working with Nevada to grow Ontario’s electric vehicle supply chain.”