The Ontario Mining Association salutes fellow industry organization the Prospectors and Developers Association of Canada for its upcoming annual international conference, which is projected to pump more than $45 million into Toronto’s local economy. The PDAC, which started in 1932, will be holding its International Convention, Trade Show & Investors Exchange from March 6 to 9, 2011 at the Metro Toronto Convention Centre (MTCC).
Last year, this global event, which brings the world’s mining industry to Ontario’s capital, attracted a record 22,000 registered delegates. More than 25% of the participants were international coming from 118 different countries. At the trade show, 357 companies and governments occupied 608 booths and 584 companies participated in the investors’ exchange.
The PDAC reports that for this year, registrations are running well ahead of last year’s pace and downtown hotels have sold out faster. Already, 10 major downtown hotels with room rates from $159 to $254 per night are posting no vacancy signs during the convention. Delegates seeking accommodation are being forced to move further afield from the MTCC.
The trade show is sold out and has a waiting list. While some biennial and quadrennial mining events may claim to be bigger by various yardsticks, the PDAC event must stand out as the largest annual mineral industry event in the world.
Mining is a significant contributor to the local economy and this one convention alone provides a mammoth boost to Toronto’s tourism industry. The Metro Toronto Convention Centre has done work on the economic impact of its operations and has contracted consultants to assess the tourism benefits from shows at its facilities.
Studies break down conference delegate spending into different categories including accommodation, transportation, parking, entertainment, recreation, attractions, meals and drinks, shopping, personal services and other. It is estimated that the PDAC’s 2010 event contributed $44.6 million to the local economy.
More than 22,000 delegates are anticipated this year, which means the PDAC event will likely be providing an even greater sum to Toronto’s economy and tourism sector. Hotel staff, waitresses, cab drivers, bar tenders, caterers, retailers, dry cleaners and hot dog vendors will be among groups benefitting – along with all levels of government through tax revenues, which will be generated.
These figures on spending by conference delegates do not include airfares and transportation costs to get to Toronto and registration fees themselves for the event. For information on the full program of the PDAC convention go to www.pdac.ca and click on the PDAC 2011 box.
Mining is an industry, which provides huge value to local, provincial and national economies in many different ways. Mining operations in Ontario purchase about 90% of their production inputs in Canada and 80% of the province’s mineral output is exported.
While tourism is one sector, which receives a significant boost from mining, we should all welcome the national and international mining communities when they come to our community in March to be part of the PDAC’s annual event.
Quick PDAC Facts
The PDAC has gone through many changes on its path from a provincial to a national and a truly international organization.
In 1932, it started life as the Ontario Prospectors Association. In 1933, the name was changed to the Ontario Prospectors and Developers Association.
In 1957, the name was altered to the Prospectors and Developers Association and then in 1987, it became the Prospectors and Developers Association of Canada.