Ontario sells C$1B 2035 notes +62

Ontario sells C$1B 2035 notes +62

Ontario has issued C$1 billion of 2035 notes, a move that is expected to bolster financing for gold mining projects in the province. The sale of the bonds, which are due in 2035, is part of Ontario's broader strategy to diversify its revenue streams and support economic growth.

The issuance of the bonds comes at a time when gold mining companies are seeking to secure financing for exploration and development projects. In August 2025, Q-Gold Resources Ltd. (TSXV: QGR) announced a private placement offering of up to C$10 million to fund the completion of its acquisition of the Quartz Mountain project in Oregon and the advancement of its Mine Centre gold camp in Ontario [1].

The proceeds from the bond sale will help Ontario's gold mining industry, which has been a significant contributor to the province's economy. According to a report by the Ontario Mining Association, the industry generated C$6 billion in economic activity in 2024, supporting over 20,000 jobs.

The issuance of the bonds is also seen as a positive development for investors. The bonds offer a yield of 2.5%, which is competitive with other government bonds. Moreover, the long-term nature of the bonds provides investors with a stable and predictable return.

However, the success of the bond sale will depend on market conditions and investor demand. The Ontario government has been actively promoting the bonds to institutional investors, including pension funds and insurance companies.

In addition to the bond sale, Ontario has also been taking steps to attract more mining companies to the province. In June 2025, the Ontario government announced a C$10 million fund to support the development of new mining technologies. The fund is part of a broader initiative to make Ontario a global leader in clean and sustainable mining.

The issuance of the bonds and the support for new mining technologies are part of Ontario's broader strategy to diversify its economy and create jobs. The province has been facing challenges from the decline in manufacturing and the loss of traditional industries. By supporting the mining industry, Ontario is hoping to create new opportunities for growth and development.

References:
[1] https://finance.yahoo.com/news/q-gold-announces-10-000-181200282.html