Ontario Mining Association says Key ministry gives mining its due

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario’s Ministry of Economic Development and Innovation (MEDI) is now featuring mining on one of its marketing websites. Ontario’s mining sector and its contributions to the provincial economy are front and centre on MEDI’s website www.investinontario.com.

The industry is singled out in three sections: Mining in Ontario: Opportunities for growth; Mining in Ontario: What are the key activities? And; “Mining in Ontario: Who are the players?” The website touches on Ontario’s rich mineral endowment, its favourable access to capital, the strong mine supply and services sector, its fair mining laws and taxation and its skilled and educated workforce.

The site shows Ontario as home to 45% of Canada’s mine supply and services companies and that for attractiveness of mining policy, the province is ranked 13th out of 93 international jurisdictions, according to a Fraser Institute survey. The support of Ontario’s universities and colleges for mining is also demonstrated.

“It is most welcome to see an important ministry like MEDI feature the province’s mining industry on its website and showcase the attributes of our industry to the world,” said Ontario Mining Association President Chris Hodgson. “People in the sector know they are working in a world leading Canadian industry and it is good news to see MEDI help to share mining’s good news story.”

Under a section of the website titled “Ontario Mining Finance – an idea you can bank on” the importance of Toronto as the international centre for mine financing is presented. The Toronto Stock Exchange and the Toronto Venture Exchange are home to more than half of the world’s publicly traded mining companies and in the first half of 2012 were the source of 72% of equity dollars raised for mining worldwide.

“We’re still performing quite well in terms of the global picture and it’s a continuation of the trend we’re seeing of investors putting money into companies that are listed here where they see there is liquidity and diversity,” said Orlee Wertheim, Mining Head of Business Development for the TMX Group, which oversees the Toronto exchanges. “When you walk up and down Bay Street in Toronto, the number of people with resource expertise is unparalleled anywhere else in the world.”

Government programs in support of mining such as the Ontario Geological Survey, the Centre for Excellence in Mining Innovation, the Northern Industrial Electricity Rate Program, the Mineral Exploration Tax Credit and the Mining Supply and Services Export Assistance Program are listed.

“Ontario is a leader in mining because higher educational institutions are turning out great people,” said OMA President Chris Hodgson on this website under the section “Highly Skilled Workers Give Ontario Mining Sector its Competitive Edge.” He notes that mining has made great advances over recent decades and mining jobs are highly productive, high paying positions.

“There are requirements for a high level of skill at every stage of the mining process, from prospecting to design to extraction and there are lots of different jobs within the sector – lab technicians, engineers, people who design 3D models, skilled trades people, environmental PhDs,” added Mr. Hodgson. “In fact, there are more PhDs, on a proportionate basis, working in mining than many other sectors of the Ontario economy.”

This MEDI website shows belief in and recognition of the dynamic and dependable role of mining in Ontario’s economy and society.