Mining Association of Canada Releases 2009 Facts and Figures
On August 31, 2009, the Mining Association of Canada (MAC) released its annual Facts and Figures 2009 publication. The document's release coincides with the 66th annual Mines Ministers meeting being held in St. John's, N.L., where federal, provincial and territorial energy and mines ministers are to discuss the obstacles and opportunities facing the energy and mining sectors as a result of the downturn in the global economy.
The document highlights the importance of the sector in the Canadian economy, which in 2008 contributed $40 billion to Canada's GDP, while paying an approximate $11.5 billion in taxes to Federal, Provincial and Territorial coffers. From an employment standpoint, in addition to being of key importance to remote communities, the sector employed 351,000 workers involved in mineral extraction, smelting, fabrication and manufacturing and created business opportunities for an estimated 3,140 suppliers who provide equipment, consumables and expertise to the industry, including hundreds of manufacturing, engineering, geotechnical, environmental and financial firms.
MAC comments that while the impacts of the worldwide recession on the Canadian mining sector were very real, with companies operating below capacity and where operations in some 32 mines were closed or suspended over a six-month period, the industry will continue to be a significant contributor to the Canadian economy. As a consequence, it will be critically important that Canada's natural resource ministers maintain and enhance their dedication to economic development. Advocacy for infrastructure projects, for improved regulatory efficiency, for more open access to land, for northern development, and for tax incentives to encourage increased investment, will remain fundamental to the industry's continued success and to a stronger Canadian industry.
In a statement made today, MAC's President and CEO Gordon Peeling reminded the ministers that "Minerals and metals help build the products and infrastructure essential to modern life. The mineral exploration and mining industry makes a significant annual contribution to the Canadian economy, including through payments to governments, and its output is fundamental to the emergence of clean energy technologies".
