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Canadians may be a modest bunch, but when it comes to our importance in the global mining industry, we could stand to brag a little.
At The Northern Miner’s Q3 Global Mining Symposium in late September, Douglas Silver presented data showing Canada leads the world in exploration spending (US$800 million per year vs. US$530 million for runner-up Australia); in capital spending on mining (accounting for 35% of the total compared to 13% for Australia); and the number of listed mineral companies (more than 1,400 compared with 661 for Australia).
The figures all show the “massive role” Canadians play in global mining, said Silver, a U.S.-based geologist and executive who founded the Denver Gold Group. “They overshadow all the other nationalities when it comes to capital spending.”
Silver noted that Canada’s TMX Group, which operates three of the country’s five stock exchanges, and regulators such as the Ontario Securities Commission have a lot to do with our strength in mining.