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Mining ‘contributes greatly to Canada’s economic strength’ – MAC

The top needs of the Canadian mining industry in 2014 include an effective regulatory process, sufficient human resources, improved infrastructure, and a competitive trade and investment environment.

“New data shows a dramatic increase in the number of Canadians employed in the mining and related industry with more than 418,000 people in full-time jobs working in various facets of the sector, says the Mining Association of Canada’s (MAC) latest Facts & Figures 2013 report.

Those who worked in the industry enjoyed an average weekly play of C$1,559 in 2012, surpassing the earnings of workers in finance, manufacturing, construction and forestry.

“This remarkable employment figure is a much more accurate view of the Canadian mining industry’s role as both a major employer and economic driver in Canada,” said MAC CEO Pierre Gratton. “It already adds to our already impressive employment figures. Not only is the mining industry the top paying industrial sector in the country, but it is also the largest private sector employer on Aboriginal people on a proportional basis and supports thousands of indirect jobs.”

With more than 3,200 companies supplying goods and services to mining operations, Canada has one of the largest supply sectors in the world, says the report.

The Canadian mining sector contributed C$52.6 billion to the national GDP in 2012 with mining industry exports accounted for $92.5 billion or 20.4% of the Canadian total. The industry contribution included $20.5 billion in mineral extraction and more than $32 billion in mineral processing and manufacuting.

Canadian exports of aluminum, copper, gold, iron and steel, iron ore, nickel, silver, uranium, zinc, diamonds, potash and coal ranged from C$1.5 billion to $17 billion each.

Canada remained the world’s top destination for exploration spending in 2012 with 16% of global investment. The country’s mineral exploration in 2012 was C$46.9 billion and mineral exploration and deposit appraisal expenditures maintained the $3.9 billion record set in 2011.

The TSX and TSX Venture handled 70% of the world’s mining equity transactions in 2012, and together comprised 70% of the world’s mining equity capital.

According to recent Mining Association of Canada research, Canada’s mining industry plans to invest $160 billion in projects over the next decade.

In 2012, the mining industry, including oil sands mining, paid $6.6 billion in federal, provincial and territorial governments in royalties and income taxes.

Canada reported 1,264 mining establishments in 2012 with 76 metal mines and 1,188 non-metals mine. The provinces with the most metal mines include Quebec at 22 mines, Ontario with 19 mines, and British Columbia with 10 mines.

In the report, MAC also outlined the top needs of the Canadian mining industry in 2014 including an effective regulatory process, sufficient human resources, improved infrastructure, and a competitive trade and investment environment.

 

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