Mining to Double So why is our little Northern Ontarion mining company so unloved this month? Where are they going to get the ore...
Mining In Canada's North To Double By 2020 – Conference Board Of Canada
Monday, January 28, 2013 11:23 AM
The Conference Board of Canada forecasts that Canada's overall northern metal and non-metallic mineral output will grow by 91% from 2011 to 2020, a compound annual growth rate of 7.5%. In contrast, the Canadian economy is forecast to grow by an average of just 2.2% annually over this period, the Conference Board says. The annual gross domestic product of mining in the north, which was $4.4 billion in 2011, is expected to reach $8.5 billion in 2020 (both figures in constant 2002 dollars), the Conference Board says. "Mining is the future economic driver of Canada's North. To fully reap the benefits of this potential, we must find the right balance between risk and opportunity," said Anja Jeffrey, director, Centre for the North. "For instance, governments need to be conscious of how changes to the regulatory environment can affect communities and industry.” The report also focuses on the need to improve infrastructure, labor skill and Aboriginal rights in order to maximize resources in the northern Canada. The Conference Board of Canada's Centre for the North works with Aboriginal leaders, businesses, governments, communities, educational institutions, and other organizations to provide new insights into how sustainable prosperity can be achieved in the North.