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Globe and Mail
7 days ago
- Business
- Globe and Mail
GFG Receives C$200,000 Grant from the Ontario Junior Exploration Program
SASKATOON, Saskatchewan, July 09, 2025 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (' GFG ' or the ' Company ') is pleased to announce it has been awarded funding from the Ontario Junior Exploration Program ('OJEP') in support of its 2025 exploration activities at its projects located in the Timmins Gold District of Ontario. Under the terms of the program, GFG has received C$200,000 in matching funds to offset eligible exploration expenditures, including drilling, geophysical surveys, and base-of-till sampling. 'We are grateful to the Ontario government and the Ministry of Energy and Mines for supporting grassroots exploration,' said Brian Skanderbeg, President and CEO of GFG. 'This funding strengthens our ability to advance exploration programs and supports our goal of discovering new mineral deposits in underexplored areas of the Timmins Gold District.' 'Ontario is proud to stand shoulder to shoulder with innovative companies like GFG Resources Inc. that are pushing the frontiers of discovery in our province's world-class mining sector,' said Stephen Lecce, Minister of Energy and Mines. 'Becoming a world leader in mineral development depends on a thriving exploration industry. Through OJEP, we are sending a clear message: Ontario is open for exploration. This investment will unlock the critical resources that will power the economy of tomorrow and secure Ontario's leadership in the global mining industry for generations to come.' About GFG Resources Inc. GFG is a publicly traded precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions. The Company operates three gold projects that cover over 800 square kilometres within the world-class gold district of Timmins, Ontario, Canada. The projects have both brownfield and greenfield targets that share similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. Stay Connected with Us X (Twitter): @GFGResources LinkedIn: Facebook: CAUTION REGARDING FORWARD-LOOKING INFORMATION All statements, other than statements of historical fact, contained in this news release constitute 'forward-looking information' within the meaning of applicable Canadian securities laws and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as 'forward-looking statements'). Forward-looking statements include, but are not limited to, the Company's future exploration plans with respect to its property interests and the timing thereof, the prospective nature of the projects, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes', or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, 'may', 'could', 'would', 'will', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof. All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour, and that the political environment within Canada will continue to support the development of mining projects. In addition, the similarity or proximity of other gold deposits to the Company's projects is not necessary indicative of the geological setting, alteration and mineralization of the Goldarm Property, the Pen Gold Project and the Dore Gold Project. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital, delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties and the additional risks described in the Company's most recently filed annual and interim MD&A are not and should not be construed as being exhaustive. Although GFG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward-looking statements, except as required by applicable laws.
CTV News
04-07-2025
- Business
- CTV News
Ontario pledges $10M for junior mining exploration
The province will invest up to $10 million in the Ontario Junior Exploration Program to boost mineral exploration, Mines Minister Stephen Lecce announced Thursday. He said the move supports "ethically sourced" resources and counters reliance on foreign suppliers. The announcement comes amid criticism of Bill 5, which fast-tracks projects, angering Indigenous and environmental groups.
National Observer
03-07-2025
- Business
- National Observer
Ford government proposes new powers to control who gets electricity access
The Ford government is pushing ahead with legislation that would give it sweeping new powers to decide which companies — particularly data centres — can connect to Ontario's electricity grid. Critics say the move could open the door to political interference, weaken public oversight and erode investor confidence. The proposed Protect Ontario by Securing Affordable Energy for Generations Act would override existing laws that require utilities to connect all data centres indiscriminately. Instead, the government would prioritize grid access for companies it deems as supporting 'economic growth,' said Energy Minister Stephen Lecce during a press conference Wednesday in Kitchener, Ont. 'Technology is the future,' Lecce said. 'These measures will ensure we're not just plugging in servers — we're powering Canadian opportunity, protecting Canadian data and jobs, and making sure energy is used where it delivers real value to our country.' The province says the changes are necessary to manage soaring demand from hyperscale data centres — massive digital infrastructure hubs that power artificial intelligence, cloud computing and data storage. Lecce said more than 6,500 megawatts of data centre connection requests are already in the queue — about 30 per cent of Ontario's current peak electricity load. Ontario is already home to more than 100 data centres. Canada ranks in the global top 10 data centre markets, and spending on servers here is expected to grow 66 per cent by 2029. Worldwide, the industry is booming, with construction expected to reach $49 billion by 2030. Critics argue the legislation opens the door to backroom deals and political influence over energy access. 'It creates a dynamic where companies go directly to elected officials or their staff to negotiate deals, rather than going through an independent and transparent process,' said Keith Brooks, programs director at Environmental Defence. Ontario's new proposed legislation would override existing laws that require utilities to connect all data centres indiscriminately and give the government sweeping new powers to decide which companies — particularly data centres — can plug in. Brooks said the legislation reflects a broader trend — from Bill 5 to the Greenbelt to energy sector reforms — of consolidating control in the hands of the minister while weakening independent oversight. 'There's always a risk when corporate interests are negotiating agreements with governments in back rooms,' he said. 'They [the Ford government] often point to external pressures — energy demand, housing need, trade tariffs — as reasons to act quickly. But it's really about removing democratic guardrails and making it easier to cut backroom deals with powerful corporations.' He said Ontario should focus instead on building out new electricity supply, especially from renewable sources like wind and solar. The Ford government has previously taken steps to weaken independent oversight in the energy sector. Last year, the province passed the Keeping Energy Costs Down Act, which gave it the authority to override decisions by the Ontario Energy Board — including one that blocked Enbridge from passing expansion costs onto customers. Ontario Liberal energy critic Ted Hsu said prioritizing grid access for major economic projects makes sense — but only if done transparently and free of partisan influence. 'Otherwise, we are opening ourselves up to cronyism, corruption and economic inefficiency,' Hsu said. 'We've seen them time and time again not being able to resist the urge of helping insiders, so I am wary to trust the government if, and when, they say that no influence will occur.' Hsu added that investor confidence could be damaged if energy access depends on lobbying the government. Energy expert: 'Not entirely novel, but potentially risky' Energy policy expert Adam Fremeth, the E.J. Kernaghan chair in energy policy at Ivey Business School, said the legislation isn't entirely unexpected — it aligns with Ontario's newly released integrated energy plan. He said jurisdictions across Canada are aggressively courting data centres, and this may be Ontario's attempt to bring discipline to a competitive space. But the real test will come in how the rules are implemented. Fremeth also cautioned that centralized decision-making must be paired with robust independent oversight — especially by the Ontario Energy Board — which he said is increasingly being sidelined. 'This sector is highly politicized — and it's difficult to remove politics from energy decisions in Canada,' Fremeth said. 'But the system we have is the one we must work with, and that makes strong, independent oversight even more important going forward.' Like Hsu, Fremeth warned that private investors may avoid Ontario if energy decisions appear too politicized. He cited the Ford government's 2018 cancellation of 750 renewable energy contracts — including nearly completed ones — as a red flag that undermined investor trust. The Ford government says data centres could account for 13 per cent of new electricity demand in Ontario by 2035. Overall demand is expected to jump 75 per cent by 2050, driven by electrification and economic growth. According to the Independent Electricity System Operator, meeting that demand could require up to $400 billion to more than double the province's electricity generation capacity — from 42,000 megawatts today to 88,000 by mid-century. Fremeth said while grid access matters, the bigger concern is whether Ontario will generate enough electricity to meet growing demand in the first place.
CTV News
03-07-2025
- Business
- CTV News
Ontario looks at boosting rules around data centre electricity usage
The provincial government is prioritizing electricity access for some data centres. CTV's Karis Mapp finds out why. Ontario could soon become more selective about which data centres are allowed to connect to the province's energy grid. A data centre is a facility that includes the computing and storage infrastructure required to run a business. That can include servers, storage systems and networking equipment. Some data centres have high electricity needs to run not just the computing systems, but also the cooling mechanisms required to keep those systems running. In an announcement on Wednesday, the province said it is planning to introduce stricter rules and prioritize some data centres within the province. 'That means prioritizing data centres that drive real value to the province: job creation, innovation, economic growth, domestic data security,' said Stephen Lecce, the Minister of Energy and Mines, while visiting Kitchener's Communitech. Data centres that are given priority will see their applications to connect to the power grid accelerated. Meanwhile, the province is also trying to pass a new act, known as the Protect Ontario by Securing Affordable Energy for Generations Act, that would require some centres to gain approval before connecting to the grid. Currently, utilities must connect all data centres, regardless of their economic impact or energy consumption needs. 'That's not really responsible planning,' Lecce said. 'That's not about protecting the province, especially at a time when others want to see us fail.' One of the largest drivers of the increasing energy demand in the province can be attributed to artificial intelligence (AI) and the large data centres required to operate the technology. 'I think the Waterloo region has lots of reasons to be optimistic about the next era of tech success,' Sheldon McCormick, CEO of Communitech, said. 'Largely, it will be built on artificial intelligence. The government is taking it seriously to protect our digital infrastructure, which is going to be critical to power that next era of AI.' Provincial officials also said today's announcement will help protect Canadians' personal data by ensuring it is hosted in Canada, instead of in other places with weaker privacy legislation.
Hamilton Spectator
24-06-2025
- Business
- Hamilton Spectator
Ontario to build world's first SMR service centre as Ford government pushes massive nuclear expansion
Ontario is building the world's first small modular reactor (SMR) engineering and service centre as the Ford government pushes a massive nuclear power expansion. Backed by a $70-million investment from GE Vernova Hitachi, the centre will support Ontario's $20-billion SMR megaproject at the Darlington nuclear site. Provincial Energy Minister Stephen Lecce said the new centre proves that Ontario is 'leading the world' in nuclear innovation. 'Nuclear attracts investment, it creates jobs, and it is the constant energy source we need,' Lecce said at the press conference in Toronto. 'By locking in this investment from GE Vernova, we are reinforcing our plan to make Ontario a clean energy superpower where our workers build with Canadian materials, operate with Canadian expertise and export the clean technology the world needs.' Lecce said the new 50,000-square-foot facility, located near the new Darlington SMR project , will serve as a global hub for maintaining and supporting BWRX-300 SMRs . It will train up to 2,000 nuclear professionals each year and create 300 jobs. Currently, around 80,000 people work in Ontario's nuclear industry. The project is the first major private investment in Ontario's nuclear expansion since the Ford government released its long-term 'Energy for Generations' plan, which emphasizes attracting private capital to help fund its costly new nuclear projects. Released last week, the plan projects a major shift toward nuclear power to meet rising electricity demand — while also showing increased reliance on fossil fuels over the next decade, with emissions expected to rise before declining after 2030. More than 50 per cent of Ontario's electricity comes from nuclear power. Under the new plan, that share is projected to exceed 70 per cent by 2050, as electricity demand is expected to rise by 75 per cent. The government says nuclear expansion is key to meeting that demand and estimates it will need up to 17,800 MW of new nuclear capacity, equivalent to building five new Darlington stations. Nuclear projects are complex and costly, and the province says it plans to explore new ownership models and equity partnerships to attract private capital and help finance the expansion. At the press conference, GE Vernova Canada President Heather Chalmers said the new SMR centre is an important step for Ontario's nuclear sector and the future of small modular reactors in Canada. 'This Ontario-based hub will provide the province with continued access to the best and brightest talent and innovation in the nuclear energy industry while complementing global efforts for deploying the BWRX-300.' Chalmers said the centre will also include advanced tools, such as a virtual reality simulator for refueling and maintenance training, along with inspection technology and support systems specifically designed for BWRX-300 reactors. She said the centre will support Ontario's SMR project at Darlington and help connect the province's expertise to international markets, and it's expected to add around $128 million to the province's economy each year. 'Today's announcement is not just about a new facility — it's about building the infrastructure, capabilities, and workforce needed to support the future of SMRs in Canada and around the world.' Energy experts and environmental advocates have long criticized the Ford government's heavy investment in nuclear power, saying it ignores Ontario's strong potential for cheaper, faster renewable options like wind and solar. They warn the nuclear-heavy approach could raise costs, hurt affordability, and increase Ontario's dependence on foreign energy supplies. The government, however, argues that nuclear power is more cost-effective and land-efficient than renewables. In today's statement , the government says Ontario would need to build up to 8,900 megawatts of wind and solar, paired with battery storage, to replace the output of four SMRs — an alternative it claims would carry major risks, including large land requirements and the need for significant transmission infrastructure. But recent studies challenge nuclear's economic case. The Ontario Clean Air Alliance estimates electricity from new nuclear facilities could cost up to 3.6 times more than onshore wind and three times more than solar. Another report suggests Ontario could save up to $19 billion annually by switching to wind, solar and storage, instead of pursuing the proposed Wesleyville mega-nuclear project near Port Hope. Growing skepticism over the cost of small modular reactors echoes global concerns. In the US, two reactors in South Carolina were scrapped after $12.5 billion (CAD) was spent, leading to Westinghouse Nuclear's bankruptcy . Georgia's Vogtle plant was completed at $48 billion , more than twice its original estimate, making it one of the most expensive infrastructure projects in US history. In the UK and Europe, new nuclear projects are also facing delays, cost overruns and cancellations. The government has not provided a timeline for the construction of the new SMR service facility. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
