THUNDER BAY – MINING – “Zenyatta is delighted to receive the financial support from the Ontario government to help advance an innovative process to purify the Albany graphite,” said Aubrey Eveleigh President & CEO, Zenyatta Ventures Ltd. “The outlook for the global graphite market is very promising with demand growing rapidly from new applications. Graphite is now considered one of the more strategic elements by many leading industrial nations, particularly for its growing importance in high technology manufacturing and in the emerging “green” industries such as electric vehicle components. The Company is very grateful to MNDM and NOHFC for their acknowledgement of a unique graphite deposit in Northern Ontario that could potentially benefit all Ontario stakeholders.”
“Our government is committed to strengthening the province’s mines and minerals sector and growing Northern Ontario’s economy. Should this project demonstrate that the graphite deposit is commercially viable, it could lead to significant job creation in the region,” stated Minister of Northern Development and Mines Michael Gravelle.
Ontario is investing in a pilot project that will help Zenyatta Ventures, a Thunder Bay-based junior exploration company, test samples from its Albany deposit for a rare form of graphite. The results could lead to the development of a mine in Northeastern Ontario.
With $500,000 in support from the province’s Northern Ontario Heritage Fund Corporation (NOHFC), Zenyatta Ventures is hiring a laboratory to test the samples taken from their graphite deposit located near the communities of Constance Lake First Nation and the Town of Hearst.
The company discovered a deposit of hydrothermal graphite, which is used to manufacture lithium-ion batteries and batteries for electric cars. The pilot project will help determine if there is enough high-purity graphite to be mined on a large scale.
Investing in the minerals sector is part of the government’s economic plan for Ontario. The four‑part plan is building Ontario up by investing in people’s talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.
Quick Facts
- Since 2003, the NOHFC has invested almost $1 billion in 6,570 projects in Northern Ontario, creating or sustaining more than 25,100 jobs.
- In the Thunder Bay region, the NOHFC has invested $155 million in 1,311 projects, creating or sustaining more than 5,070 jobs, since 2003.
- The NOHFC’s investments in economic development are an important part of the Ontario government’s Growth Plan for Northern Ontario.
