New Brunswick has introduced the Mineral Resources Act to replace the Mining Act and enable approval process streamlining, reclamation requirement enhancement, and the reinforcement of financial assurance measures limiting future mine site abandonment.
The Mineral Resources Act facilitates the coordination of a single-process approval pathway with clear timelines, boosts First Nations and community engagement, bolsters financial assurance and closure and long-term tracking requirements, and uses modern regulatory tools to enhance transparency and allow predictability. Along with upcoming regulations, the Act will update fees, rents, and royalties.
According to natural resources minister John Herron, the legislation will be the foundation of an agile, predictable, and timely regulatory framework for mineral development in Canada. The government indicated that the Mineral Resources Act reflected technological change in the mineral sector, changing environmental standards, and rising expectations for First Nations and local government engagement.
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“Our new act provides a strong and modern foundation for the advancement of our mineral sector. It supports responsible development, strengthens public confidence and ensures that New Brunswick is well positioned to develop the critical minerals the world needs while delivering long-term economic and social benefits for New Brunswickers,” Herron said in a statement.
Mining sector investment is a significant part of the NB government’s recently published economic development strategy. The plan under NB’s economic development strategy also highlighted areas in which the province possessed a competitive advantage – among these areas was critical minerals.
New Brunswick Prospectors and Developers Association president Robert Murray praised the legislation.
“We appreciate the positive changes government is making to the Mining Act by creating a modern, predictable system for exploration in our province. These changes will help create a clearer, more predictable framework for responsible exploration and development across the province,” he said.
The Mining Act had been in effect since 1985. Herron said the Mineral Resources Act would help the government reimagine the province’s mineral sector in conjunction with the Comprehensive Minerals Strategy.