Mayor Black signs letter of intent in Beijing

At the request of a potential business partner, Mayor Steven Black has returned to China to sign a Letter of Intent to work with Jiangsu Tianlong Continuous Basalt Fiber Co., Ltd.

Mayor Black, along with the Timmins Economic Development Corporation, the Ministry of Northern Development and Mines, and the Ministry of Citizenship, Immigration and International Trade, has been working with the client since the Prospectors and Developers Association of Canada Conference in March 2015.

The company, which currently operates a facility in Jiangsu Province, has recognized great potential in the geology of the City of Timmins. The Letter of Intent, signed yesterday, outlines the two parties’ intent to work together on the feasibility of opening a rock wool insulation facility in Timmins.

While market feasibility still needs to be determined, the investor from China will be visiting Timmins in December to conduct site visits and meet with local government officials. The firm is looking to create 60 manufacturing jobs and bring new technical expertise to our community.

“We look forward to welcoming this potential investor to the City of Timmins,” said Mayor Steven Black. “This is another success story which stems from the efforts of the Timmins Economic Development Corporation, City staff, and our provincial partners. I thank everyone involved for their efforts in helping to strengthen the economy in Timmins. It is an honour to take part in the Premier’s delegation and to work together with our provincial counterparts to benefit Northern Ontario.”

This potential investment aligns with the Northern Ontario Growth Plan, and the Timmins 2020 plan’s goal of diversifying our economic base through new business development to achieve long-term stability and wealth.

“Today’s announcement exemplifies how collaboration and positive relationships can maximize international trade and foreign investment opportunities,” added Minister of Citizenship, Immigration and International Trade Michael Chan. “This investment strengthens the City of Timmins’ local economy, opens new doors to a priority market and will bring high quality jobs to the region.”