Newfoundland and Labrador, Canada is rich in natural resources spread over a large land mass and surrounded by the ocean.
Proximity to Europe
Newfoundland and Labrador is:
- The most easterly point in North America
- Positioned along international shipping lanes
- Only 4,031 km from Rotterdam
- Only 4,049 km from Antwerp
- Only 4,333 km from Hamburg
A Unique Geography
Our province features:
- 29,000 km of marine coastline
- 450,000 km2 of Crown land – mostly unpopulated
- Numerous deep-sea ice-free ports
- The second-highest water runoff in Canada
Northern Operations
Newfoundland and Labrador’s position in the northern Atlantic has made the province strategically important in matters or defense, transportation, and communications. It is a hub of activity for northern operational logistics and R&D.
In Brief
- Newfoundland and Labrador is Canada’s newest province, an independent Commonwealth nation until entering the Canadian federation in 1949.
- The province has a population of 545,000 spread over a geography of 450,000 km2.
- With a Gross Domestic Product (GDP) of $39 billion in 2023, Newfoundland and Labrador is an export-oriented jurisdiction with strong international ties and trading partnerships.
Key Industries
Low-Carbon Oil and Gas
Newfoundland and Labrador’s offshore oil and gas industry is a driver of the province’s economy, with $6.8 billion worth of exports in 2023. The carbon intensity per barrel produced in NL is among the lowest in the world.
Mining
From nickel to cobalt to iron ore, Newfoundland and Labrador has an abundance of the mineral resources needed for EV batteries, wind turbines, and other clean technologies. Mining has been a mainstay of the provincial economy for many years.
Blue Economy
With much of its cultural and economic history closely tied to the ocean, Newfoundland and Labrador has developed a rich cluster of expertise within businesses, research, and education contributing to ocean-based industry – from fisheres to energy to defense.
And More…
Traditional industries like fisheries and forestry continue to contribute to Newfoundland and Labrador’s economy, while the province is home to a thriving tech industry and ecosystem which is punching well above its weight.
Over 20 GW of wind-to-hydrogen projects are being pursued in Newfoundland and Labrador.
Six export-oriented projects of global significance are being advanced in Newfoundland and Labrador – making the province a focal point for clean energy investment and and innovation.
Backed by some of the world’s best hydroelectric resources.
With a hydroelectricity-based electricity grid that over 90% renewable and major plans for expansion, Newfoundland and Labrador is positioned to facilitation decarbonization on an international scale.
With enormous untapped storage potential…
Newfoundland and Labrador is home to some of the largest potential underground storage formations on the Eastern Seaboard. From salt domes to subsea formations, the potential for energy and carbon storage is substantial.
… and a wealth of critical minerals.
Newfoundland and Labrador is home to 34 of the world’s critical minerals, it’s no secret why the province has become one of the most attractive jurisdictions in the world for mining investment.
Newfoundland and Labrador is rich in culture with a breathtakingly rugged natural environment. You will find that the work which brings you here will come with personal rewards.
