OTTAWA, Aug. 4, 2011 /CNW/ – The Mining Association of Canada (MAC) today released its annual report on the level of payments made by the mining industry to Canadian governments. The report, prepared by ENTRANS Policy Research Group, details the direct revenues that accrue to government from the industry in the form of corporate taxes, royalties and employee income taxes.
“The mining industry makes a significant contribution to Canada’s economy each year,” noted MAC’s President and CEO Pierre Gratton, “ranging from capital investment, stock market activity, Aboriginal community jobs and training, and northern development. The level of payments made to governments detailed in this study is another useful measure of this contribution, particularly valuable because these revenues are used to support health care, education and other critical government services.”
Highlights from the report include: