Bartolucci guides feds.

Mining companies are seeking to secure long-term sustainability at a time when commodity prices are being fueled by the biggest boom in 20 years.

Ontario possesses a strong investment climate and flourishing mineral sector. As a result it is the focal point for a number of significant proposed deals. There has been some debate and speculation as to how these deals should unfold.

For northern Ontarians there is a lot more at stake than just market share, says Rick Bartolucci, Minister of Northern Development and Mines. The region's jobs, opportunities and hopes for lasting economic prosperity are top of mind.

The process is complex and involves many players, but before any takeover transactions are completed, the offers still need to be approved by shareholders, and authorities in Canada, the United States and the European Union he says.

In Canada, the lead for reviewing large acquisitions of a Canadian business and a non-Canadian business is Industry Canada. Its job is to ensure the acquisition is a net benefit to the country.

The Investment Canada Act sets out considerations to be addressed in evaluating net benefit transactions. This includes confidentiality provisions to protect commercially sensitive information but also not to influence shareholders within the competitive process.

"Ultimately the bid review process is the responsibility of the federal government and I must respect their jurisdiction," Bartolucci states.

However, it is important to ensure the federal government is aware of Ontario's mineral sector interests and concerns, to help guide them through the decision-making process.

"The Ontario government has been working very hard to make sure this province's position is clearly understood by the federal government," Bartolucci says.

He has written to the Honourable Maxime Bernier, Ministry of Industry Canada, to explain Ontario's expectation for any companies willing to do business in the province.

The expectations include: creating and protecting jobs in the mineral sector, advancing research and development capabilities, retaining head offices financial and corporate services in Ontario, strengthening the TSX and Toronto as a global mining investment centre, increasing exploration and development, supporting our mining supply and service companies, ensuring environmental and social sustainability, maximizing opportunities for Ontario's Aboriginal people and northern youth.

As a leading mining jurisdiction in Canada and the world, Ontario's interest is key to achieving national priorities for a robust mineral sector.

"Our government is on the side of northerners and all Ontarians who depend on the mining sector and we will continue to make sure your voice is heard and our province's interests are considered."

By KELLY LOUISEIZE

Northern Ontario Business