Under the new guidelines, mining companies will be able to ask OSC to review their disclosure before they file a prospectus.

The OSC said this week mining companies would be able to ask the regulator to review their disclosure before they filed a prospectus, which should enable firms to identify and rectify any issues that could prevent regulatory approval quicker.

"This initiative will provide greater deal certainty to Ontario mining issuers, helping them avoid potentially costly and disruptive delays in the offering process," said director of corporate finance at the OSC, Sonny Randhawa.

The regulator added mining companies represented the largest segment of Ontario's issuer population.

The new policy is the latest step in the OSC's ongoing effort to reduce regulatory burdens. Last month, it announced a two-year moratorium on certain late filing fees.

The regulator's new burden reduction task force has also hosted a series of public hearings so far this year to identify areas in which it can cut compliance costs, by either changing requirements or altering procedures.