OTTAWA, July 18, 2011 /CNW/ – The Mining Association of Canada (MAC) today released a submission to Canada’s ministers of natural resources in advance of the annual meeting of federal, provincial and territorial ministers, being held July 18-19 in Kananaskis Alberta. The submission was prepared by MAC on behalf of the Canadian Mineral Industry Federation, a grouping of the 15 national, provincial and territorial mining industry associations, and highlights the significant economic opportunity for new mining investment.
With strong and, in some cases, record commodity prices, the global mining industry is enjoying a period of growth and expansion not seen in many years. In Canada, this is leading to the expansion of existing facilities, the development of new projects and increased exploration, with Canada continuing to attract the largest percentage of global exploration spending. Over the next five years, MAC has estimated that over $110 billion could be invested in existing and new projects, creating thousands of high-paying jobs in every region of the country.
The submission highlights the important role played by the Canadian mining industry in contributing to national prosperity – such as contributing $35 billion to GDP, generating prosperity in remote areas as well as our major cities, accounting for 21% of total Canadian goods exports, and paying almost $10 billion annually to Canadian governments. Even greater economic contributions are made by the thousands of companies who supply goods and services to the mining industry. Given continued global economic development and demand in China, India and other countries, a properly-supported Canadian industry could continue this scale of benefits for decades to come.
As noted by MAC President and CEO, Pierre Gratton, “the mining industry is critically important to Canada and is poised to bring billions of dollars in new private sector investment at a time when the country needs it, an investment that would support Canada for generations to come. Our submission highlights the challenges facing industry and the actions needed by our governments to capitalize on this opportunity”.
The key recommendations highlighted in the submission include:
•clarification and improvement, at the provincial and territorial level, in the area of accessing land for mineral exploration and potential development;
•improvement in regulatory effectiveness, relating to the Fisheries Act and environmental assessment, among other areas;
•the need for enhanced government investment in relevant infrastructure projects and in support of industry innovation and skills development; and
•the timeliness of developing a Canadian mining strategy that would demonstrate ministerial commitment to increased mineral developments in all regions.
About the Mining Association of Canada
Based in Ottawa, the Mining Association of Canada is the national organization for the Canadian mining industry. Its members are engaged in mineral exploration, mining, smelting, refining and semi-fabrication.
For further information:
Marcela Diaz-Communications Director
Email: [email protected] Telephone: (613) 233-9392 x 328