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New Mines Needed for Canada to Shine in Metals Boom

by NationTalk on January 23, 2007752 Views

OTTAWA, Jan. 22 – Canada needs to develop more new mines to fully capitalize on the global demand for minerals, according to Mission Possible: A Canadian Resources Strategy for the Boom and Beyond.

Released today by The Conference Board of Canada, this final report of a three-year research program-The Canada Project-is perhaps the most comprehensive attempt in the past two decades to reimagine the Canadian economy.

“This sector is enjoying prosperity due to high commodity prices, but Canada’s reserves of major metals are declining because of inadequate exploration activity in the last decade,” said Gilles Rhéaume, Vice-President, Public Policy. “Greater exploration efforts than ever before will be required to boost our reserves and open new mines.” Governments should support exploration activity through tax credits and by developing a permitting process and set of rules that are consistent across provinces and territories. Governments must also provide adequate funding to develop the geological data that are critical to mineral discoveries.

Most exploration activity will take place in remote, environmentally-sensitive regions. The Canadian industry and governments will need to ensure that all mining companies, regardless of size, are motivated and equipped to provide excellent environmental stewardship. As many new mines will be close to Aboriginal communities, engaging Aboriginal people in the mining sector must be a priority.

Mission Possible: A Canadian Resources Strategy for the Boom and Beyond discusses the futures of four key Canadian resource sectors-forest products, agri-food, mining and energy. This report is Volume II of a four-volume set entitled Mission Possible: Sustainable Prosperity for Canada. It is the final report of The Canada Project, a three-year program of research and facilitated dialogue that seeks to help improve our standard of living and position in North America and the world. This research was funded in part from the Social Sciences and Humanities Research Council (SSHRC), an independent federal government agency that funds university-based research in key areas of Canada’s social, cultural and economic life.

The report is publicly available at www.e-library.ca .

For further information: Brent Dowdall, Media Relations, (613) 526-3090, ext. 448, corpcomm@conferenceboard.ca

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