Report sees impressive growth in Canadian mining
According to a new report from the Mining Association of Canada (MAC), the mining industry in that country plans to invest C$139 billion in new projects during the next decade.
The report said these new projects, which stress across the country, will need more than 100,000 people to fill the jobs to meet the demand. It also suggests that the growth is dependant on three major factors: efficient regulatory process, sufficient human resources, and improved infrastructure.
"The Canadian mining sector is a leader in responsible mining, and that includes complying with a rigorous regulatory process, but every effort must be made to avoid unnecessary and costly delays," the association observed.
The report found that the mining sector contributed C$36 billion to Canada’s national GDP in 2010, and employed 308,000 workers in mineral extraction, smelting, fabrication and manufacturing. An additional 3,125 companies supplied engineering, geotechnical, environmental, financial and other services to mining operations.
Meanwhile, the value of Canadian mineral production rose by 35 percent in 2010, while mineral exploration increased by 35 percent during the same period. The industry exported C$84.5 billion in metals, non-metals and coal in 2010, accounting for 21.2 percent of the nation’s total exports.
"Mining in Canada is playing a leading role in Canada’s economy recovery. We are generating significant results, we are creating valuable new jobs and we are optimistic about opportunities in the future," said MAC CEO Pierre Gratton. "Working responsibly and cooperatively, we believe mining will be a good news story for Canada for years to come.
