Professional Documents
Culture Documents
CONTENT
Overview Canadian mining industry Canadian mining industry New projects in the mining industry Mining equipment industry in Canada Recommendations References
CANADA S CANADAS MINERAL INDUSTRY IS RANKED AMONG THE TOP 5 GLOBAL PRODUCERS FOR MORE THAN 10 MAJOR MINERALS/METALS
5 largest mining companies in Canada There are 859 mines in Canada 2005 In total 58 different minerals are produced The largest contributors to the economy are Nickel, Potash and Copper
CONTENT
Brief History Structure of the industry and mining laws Overview mining resources and production Mining companies g p
New projects in the mining industry in Canada Mining equipment industry g q p y Recommendations References
4
5 Source: A history of mining and mineral exploration in Canada and Outlook for the future (Natural Resources Canada)
Indian and Northern Affairs Canada In the Northwest Territories, Yukon and Nunavut, the Government of Canada, INAC is responsible (INAC) for the administration of Crown lands, including
mineral properties.
CNSC is the regulatory authority of the production, refinement or treatment of uranium and other substances stated in the Atomic Energy Control Act
STRUCTURE OF CANADAS MINING INDUSTRY - Mining regulations generally falls under Provincial Government
Under the Canadian constitution, the power to regulate mineral exploration, development, conservation, p g p p and management is generally one of exclusive provincial, not federal, jurisdiction. The Provincial/territorial goverments regulating mining activities and collecting Mining Royalties are: 1. Ministry f E 1 Mi i t of Energy (Alb t ) (Alberta) 2. Ministry of Energy and Mines (British Columbia) 3. Manitoba Industry, Economic Development and Mines (Manitoba) 4. 4 Department of Natural Resources Minerals (New Brunswick) 5. Mines and Energy (Newfoundland and Labrador) 6. Resources, Wildlife and Economic Development Minerals and Resources (Northwest Territories) 7. Department of Natural Resources Mineral Resource Branch (Nova Scotia) p ( ) 8. Ministry of Northern Development and Mines (Ontario) 9. Ministre des Rerssources naturelles, Faune et Parcs Mines (Quebec) 10. Key Economic Sectors and Minerals and Saskatchewan's Mineral Resources (Saskatchewan)
Year
1867
1946
1985
1992 1996
Year
Income Tax Act, Investment Tax Credit for Exploration (ITCE), 20001 2000 Investment Tax Credit for Exploration (ITCE) is an amendment to the Income Tax Act designed by the to assist junior mining companies in raising new equity through the issuance of flow-through shares. This j g p g q y g g additional financing helps exploration companies to maintain, or increase, their level of exploration activities in Canada. With this measure the federal authorities aims to stimulate investment in mineral exploration throughout Canada. National Instrument 43-101 (NI 43-101) All disclosures on mineral projects must be based on the work of a qualified person (QP). The QP is responsible for scientific and technical matters. This includes exploration, development, definitions of resources and reserves, mining matters, q g quality-control standards for analytical laboratories, the form of y y technical reports, professional supervision, corporate governance practices, regulatory oversight of the mining industry, and enforcement of securities laws.. The Instrument was developed by Canadian Securities Administrator and is administered by the provincial securities commissions commissions. 2001
Amendments to the Canadian Environmental Assessment Act, 2003 The result of one of the amendments is the creation of the Canadian Environmental Assessment Registry (CEAR) a web-based registry showing information about all ongoing environmental assessments, and web based listing documents relevant to those assessments.
2003
10
Source: Natural Resources Canadas website www.nrcan.gc.caand, www.infomine.com and Getting the deal through by McMillan Binch Mendelsohn
11
For more information on provincial legislations please visit www.nrcan.gc.ca/mms/busi-entre/ptar_e.htm 12 Source: Natural Resources Canadas website www.nrcan.gc.caand, www.infomine.com and Getting the deal through by McMillan Binch Mendelsohn
Canada is the worlds leading mining country and among the worlds largest producers of minerals and metals.
Source: Mining Association Canada 13
Canada is one of the worlds leading mining countries and one of the largest p g producers of minerals and metals. The mining industry is an important contributor to Canadas economy. The industrys $42 billion contribution to Canadas GDP includes $10 billion in mining extraction and $32 billion in mineral processing and manufacturing.
WHILE TOTAL OUTPUT HAS GROWN EMPLOYMENT IN THE CANADIAN MINING SECTORS HAS DECREASED BY 2% PER YEAR
Employment per mining sector
Gold and silver ore Other Minerals Nickel and copper ore
10%
45 900 persons are employed in the mining sector. Four provinces, Quebec, Ontario, Saskatchewan and British Columbia employ 74% of the total mining workforce. workforce The number of employees has decreased despite strong demand and new mine openings in every mining sector. This is mostly due to productivity gains. In diamonds, the number of employed has more diamonds than has doubled from 400 to 1000 between 2000 and 2004.
Coal
Gold and silver industry is the largest employer and the nickel and copper is number two. Coal is number three in terms of number of persons employed.
Source: General Review of Mineral Industries, 2004 15
16
CANADA`S MAIN MINING SEGMENT (VALUE) IS NON FERROUS MINERALS -Main non ferrous minerals are: Nickel and Copper
Total P d ti V l 17 1 billi T t l Production Value: 17,1 billion USD Non Ferrous and Ferrous Minerals Production value: 10,91 billion UDS / year Energy Minerals & Diamonds Production value: 6,16 billion USD / year
Nickel
Prod.Value 2,7 billion USD/year Capacity 174 kton/year
Potash
Prod.Value 2,3 billion USD/year Capacity 10,5 Mton/year
Copper
Prod.Value 2,03 billion USD/year Capacity 571 kton/year
Gold
Prod.Value 2,2 billion USD/year Capacity 119 ton/year
Coal
Prod.Value 4,78 billion USD/year Capacity 65,3 Mton/year
Diamonds
Prod.Value 1,38 billion y USD/year Capacity 12,3 million carat/year
Quebec
Resources
British Colombia
Resources
Ontario
Resources
Alberta
Resources
Coal
Ontario, British Columbia, Saskatchewan and Quebec represent 75% of Canadian mineral production
18 Source: Information bulletin exploration, March 2006 (Natural Resources Canada) and The Canadian Encyclopaedia
Mining project (Company) 1. Brunswick (Falconbridge /Xstrata) 2. Kidd Creek (Falconbridge /Xstrata) 3. Highland Valley g y Copper (Teck Cominco) 4. Red Lake (Goldcorp)
Minerals
Production capacity
179,000 tons p /year , per y Largest copper miner in Canada. 16-20 tons/year Largest goldmine in Canada. 8.5 tons/year It is the world's largest highgrade uranium deposit. 10.5 million tons/year
Gold Uranium
5 6 3 4 7 2 1
5. McArthur River (Cameco Corp.) 6. Fording River Mine (Elk Valley Coal)1 7. K1 and K2 mines at Esterhazy (The Mosaic Company and Potash Corporation) p )
CANADA REMAINS THE CENTRE OF SOME OF THE LARGEST MINING COMPANIES IN THE WORLD
A number of major international mining companies originate from Canada: Xstrata/Falconbridge is one of the worlds leading producers of copper and nickel, with investments in zinc and aluminum. Falconbridge was acquired by the Swiss mining giant Xstrata in 2006. CVRD/Inco Limited is the world s second largest producer of nickel with operations in 40 world's countries. In October 2006 Brazilian Companhia Vale do Rio Doce (CVRD), a world leader in iron ore, acquired all of the outstanding common shares of Inco. Potash Corporation of Saskatchewan is the world's largest fertilizer enterprise, by capacity, capacity producing the three primary plant nutrients potash phosphate and nitrogen Potash potash, nitrogen. Corporation has corporate offices in Saskatoon, Saskatchewan, and Northbrook, Illinois. Teck Cominco is a diversified mining company with headquarters is in Vancouver, British Columbia. The company is a world leader in the production of zinc and metallurgical coal and iis also a significant producer of copper, gold and specialty metals. d l i ifi t d f ld d i lt t l Barrick Gold Corporation is a leading international gold mining company, with a portfolio of 27 operating mines and seven advanced exploration and development projects located across five continents. The two largest Canadian mining companies have been bought by foreign companies in 2006.
Source: Annual Reports 2005 for Falconbridge, Inco Ltd, Potash Corp, Teck Cominco and Barrick Gold Corp.
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THE TWO LARGEST COMPANIES IN TERMS OF TURNOVER ARE ACTIVE IN NICKEL MINING
Major Mines Brunswick Mine Kidd Creek Sudbury Operations Sudbury Operations p Birchtree, Thompson Voiseys Bay1 Lanigan Rocanville Allan Production capacity
tonnes / year t
Minerals
341
163 43
tonnes / year
98 49 50
million tonnes / year
1.9
PotashCorp is the worlds largest producer of potash with a production capacity in 2005 of nearly 13 million tons .
Source: Annual reports for 2005 and www.infomine.com, 21
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CONTENT
Overview Canadian mining industry Canadian mining industry New projects in the mining industry Mining equipment industry in Canada Recommendations References
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Million USD
25 000
Production Export
20 000
15 000 10 000
5 000
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24
Iron Diamonds
British Columbia
Resources
Nova Scotia
Resources
Coal
Saskatchewan
Resources R
Ontario
Resources
More than 80% of exploration expenditures in 2004 was spent in Ontario, Quebec, Nunavut, Saskatchewan and British Columbia.
25 Source: Overview of trends in Canadian mineral exploration 2005, Globe and Mail Sept 7 2006 and www.nrcan.gc.ca
Total investment including capital expenditures have increased from 4 78 billion USD 4.78 in 2004 to a projected 5.12 billion USD in 2006.
1 2006 is calculated as 4,719,738 CAD Total Mineral Resource Development Investments + the average cost for Repair and maintenance for 2004 and 2005 (1,700,202 CAD +1,258,666 CAD)/2 The recalculated into USD by dividing by 1.21 26 Source: Overview of trends in Canadian mineral exploration 2005 and Canadian Mineral Yearbook 2005
CONTENT
Overview Canadian mining industry Canadian mining industry New projects in the mining industry Mining equipment industry in Canadian
International mining equipment companies Local mining equipment companies Procurement process Generall country conditions affecting the mining iindustry G t diti ff ti th i i d t
Recommendations References
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THERE ARE MORE THAN 2 400 SUPPLIERS OF MINING EQUIPMENT GOODS AND SERVICES IN CANADA
1
*The company was founded outside of Canada and the headquarter is located outside of Canada Source: The Mining Association of Canada (www.mining.ca) and Canadian Suppliers of Mining Goods and Services report by Natural Resources Canada.
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Exploration
Mapping, Geological and Geotechnical Surveys, Borehole Drilling. Atlas Copco CMT Boart Longyear Micromine Phonex Geophysics
Surface Mining
Drilling, Electrical and Hydraulic equipment, Shovel buckets 3M Mining ABB Atlas Copco Thiessen S&C Electric Thyssen Schachtbau
Underground Mining
Blasting, Drilling, Electrical and Hydraulic equip., Communication Atlas Copco Breaker Technology/ Astec Industries I d ti Dyno Nobel Flexit ITT Flygt Mine Site Technologies Sandvik
Source: Canadian Association of Mining Equipment and services for Export, www.camese.org
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Exploration
Mapping, Geological and Geotechnical Surveys, Borehole Drilling. Borinfo LiDAR Services Major Drilling Group Optech Quantec Geoscience Sensors & Software
Surface Mining
Drilling, Electrical and Hydraulic equipment, Shovel buckets Fordia Group Gridcom Enterprises Major Drilling Group International
Underground Mining
Blasting, Drilling, Electrical and Hydraulic equip., Communication Canun Cubex National Compressed Air Diaset Products Dux Machinery International Mine Radio Systems Varis Mine Technology
Source: Canadian Association of Mining Equipment and services for Export, www.camese.org
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X X X X X X X X X
X X X X X X X X X
Surface Construction
Pipeline and Piling Experts in Coal mining Expertise in shaft sinking Chute installation, Hoist installation Underground mining Leaders in shaft sinking Expertise in shaft sinking
X X
As major miners have reduced their workforce to focus on core production business, contractors have expanded beyond sinking shafts, into a variety of construction and other infrastructure work
Source: Canadian Association of Mining Equipment and services for Export, www.camese.org 31 Country of Origin : CA= Canada; GY=Germany
THE CANADA MINING INDUSTRY IS OPEN TO EQUIPMENT AND SERVICE PROVIDERS FROM OUTSIDE NORTH AMERICA
Trends within the Mining Equipment Industry in Canada
Canada is an integrated part and a leading player of the international mining industry The Canada mining industry is open to mining equipment and services from outside of Canada and are home to approximately 1,800 firms that are represented by either subsidiaries or distributors distributors. A large number of international mining equipment manufacturers and contractors are present in Canada. Competitive Market Competition among international suppliers of mining products has increased since the mid1990s. Mining companies, like firms in other industrial sectors, buy largely on specifications and price. R&D is mainly carried out by the mining companies Canadian mining companies are active investors in research and development (R&D) companies invested $54 million in extraction R&D, $274 million in primary metals R&D and $176 million in metal manufacturing R&D in 2005, for a total of $504 million. The Government of Canada has recently launched a program to Innovate Industry to double the research contribution of Canada's GNP from 1.5 % to 3.0 % by the year 2010.
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Globalisation
R&Ddisplacement
Source: Facts and Figures 2006 by The Mining Association of Canada (www.mining.ca) Canadian Suppliers of Mining Goods and Services report by Natural Resources Canada.
MOST PURCHASING DECISIONS ARE CENTRALISED - The technical specifications are often made by the engineers at the mine
Mining Company Xstrata (former Falconbridge) Companhia Vale d Ri C hi V l do Rio Doce (former Inco) Potash Corp Teck Cominco Agrium Barrick Gold Corp Fording Canadian Coal Trust Cameco Number of Mines >40 Minerals Copper, Coal, Nickel, Zinc & Aluminum Nickel Ni k l Potash, Phosphate & Nitrogen Zinc, Coal, Copper, Gold Nitrogen, phosphate & potash Gold, Silver Coal Uranium
33
2
Purchasing decisions HQ, Zug, Switzerland Nickel head office in Toronto, Canada HQ, T HQ Toronto, Canada t C d HQ, Saskatoon, Canada HQ, Vancouver, Canada HQ, Calgary, Canada HQ, Toronto, Canada HQ, Calgary, Canada HQ, Saskatoon, Canada
Cameco owns 53% of Centerra Gold Inc.
COMPLIANCE WITH THE CANADIAN STANDARD ASSOCIATIONS ASSOCIATION S RULES AS WELL AS THE BUYERS PURCHASING POLICIES IS CRUCIAL
A first step to enter the Canadian market is to get ones equipment approved by The Canadian Standard Association and receive a CSA label. When it comes to the next step finding new customers new mining projects are label step, customers, often announced on the companies websites. For new suppliers entering the Canadian market participation on trade shows and in Buyers Guides are important. It is also important to comply with the customers Corporate Purchasing y y p g p g g Policy, which can usually be found on the companies websites. Mining companies have a long tradition of outsourcing various activities in the mining process to Contractors, therefore it is equally important to stay in contact with them.
New mining Receive a CSA label project announced by mining i i company/ contractor Make proposal according to guideguide lines Evaluation by Announcement is made the buyer
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HIGHLY DEVELOPED INFRASTRUCTURE WITH EXTENSIVE RAILWAY SYSTEMS AND LARGE SCALE PORTS
INFRASTRUCTURE -Extensive network of railways, inland waters and ports Canada has 75,000 kilometers of rail lines, with significant links into the United States. There is y j ports and to interior communities through truck-rail intermodal g also easy access to Canadas major p service. Mineral commodities account for 60% of the rail tonnage and for more than half of the marine tonnage handled in Canada. Canada has the worlds longest inland waterway open to ocean shippingthe Great Lakes/St. g y p pp g Lawrence Seaway System. The Seaway provides a direct route to the industrial heart land of North America. There are 230 commercial ports and harbors handling many goods shipped in and through Canada. Major ports include Vancouver, Montreal, Halifax, Port Cartier, Sept Iles/Pointe Noire, Saint John d Quebec City. S i t J h and Q b Cit Modern container facilities at the major ports connect with inland container trains to ensure rapid movement of goods throughout Northern parts of the country. In remote parts of Canada, poor or non-existing infrastructure offers a challenge to mining companies. i
36
Source: www.investincanada.com, KPMG Competitive Alternatives study 2006 edition, and Natural Resource Canada.
37 Source: www.investincanada.com, KPMG Competitive Alternatives study 2006 edition, www.nrcan.gc.ca (Natural Resources Canada) and www.tsx.com.
STRONG INDUSTRY AND GOVERNMENT COMMITMENT TO INCREASE MINING TRAINING AND IMPROVE EDUCATION QUALITY
COMMUNICATION - Well established telecommunication The Canadian telecommunication system is well developed and covers 97% of the population. Due to poor GSM and 3G coverage in the isolated areas of the North, satellite phones are widely used. The two official languages of Canada are English and French. When conducting business in the Province of Quebec, French is the preferred language of business. LABOUR - A highly competitive labour force Canada has the lowest overall labour costs in the G7. There are nine mining schools based in Canadian universities. The Canadian Mining Education Council (CMEC) ensures effective networking between the universities, the industry and the professional associations in areas of education, research and technology development. The Government of Canada has launched a program to increase the quality and quantity of Mining graduates and to help enhance the image of Mining within Canadian society.
Source: KPMG Competitive Alternatives study 2006 edition and The Canadian Mining Education Councils website www.mining.ubc.ca
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CONTENT
Overview Canadian mining industry Canadian mining industry New projects in the mining industry Mining equipment industry in Canada Recommendations References
39
THE CANADIAN MINING INDUSTRY OFFERS OPPORTUNITIES FOR HIGH TECHNOLOGY SOLUTIONS WITHIN ALL AREAS OF MINING
OPPORTUNITIES
Canada's good geological assets provide plenty of growth opportunities for the mining industry. In recent years rate of investments has increased, especially in exploration activities . The remote location of new mine sites needs investments in improved or new infrastructure infrastructure. The mining industry needs to improve productivity in all areas of the production cycle which points to a increase demand of high tech equipment such as automation solutions equipment, and tele-mining. There is a growing demand for equipment and technological solutions for underground mines as well as f environmentall applications. ll for i t li ti
THREATS
With almost 2,400 suppliers of goods and services the mining equipment industry is generally very competitive, 6% a General Sales Tax (GST) plus customs on mining equipment/machinery imported to Canada. Human resource constraints: The Canadian mining industry will need up to 81,000 new employees to meet current and future needs and to fill positions vacated by retirees as revealed by a sector study. Infrastructure capacity problems. Mining project approval inefficiencies
Source: Natural Resource Canada, The Canadian Mining Education Council (www.mining.ubc.ca.) and Mining for Talent by Mining Industry Training and Adjustment Council (www.mitac.ca).
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SWEDISH MINING EQUIPMENT COMPANY IN CANADA - Success story for Alimak in Canada
SUCCESS FACTORS
Introduced new solutions for construction hoists, industrial lifts, raise climbers and winches that improved the work methods and productivity in the mines.
RECCOMENDATION In Canada the rules and regulations f mining equipment l ti for i i i t are sometimes quite complicated. Therefore it is important to establish a partnership with a ith distributor who knows how to get the products through the approval process process.
Mr G. Larsson, Segment Manager at Alimak AB
OBSTACLES
After-sales support In-order to keep the clients satisfied Alimak had to improve after sales support and often in remote after-sales locations.
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SWEDISH MINING EQUIPMENT COMPANY IN CANADA - Success story for GIA Industri AB in Canada
In Canada since: the 1970s Represented in Canada by: ABB C d R t di C d b Canada CEO: Roger Karlsson
SUCCESS FACTORS
For example GIA Industri AB is a world leader with an unique knowledge of building and customizing mining vehicles. ABB is GIAs partner and is well established in Canada Canada. ABB Canada provides service to GIA Industris clients.
RECCOMENDATION For example If you are not yet ready to set up you own subsidiary you must find a partner that is well established in the Canadian mining industry and that has a strong service network.
Mr Roger Karlsson. CEO at GIA Industri AB.
OBSTACLES
For example Without an own subsidiary in Canada you depend p provide y end-customer with your on the partner to p good service.
42
Source: Interview with Xxx, State where the information was found
1.
2.
3.
Source: STC
43
1.
2.
3.
Make yourself known Trade shows: One of the worlds largest trade shows is organized in Canada by Canadian Institute of Mining, Metallurgy and Petroleum. In April of 2007 it will be held in Montreal. Montreal Buyers guides: The Canadian Mining Journals Buyers Guide is published once a year but is also accessible for members at www.canadianminingjournal.com.
44
Source: STC
CONTENT
Overview Canadian mining industry Canadian mining industry New projects in the mining industry Mining equipment industry in Canada Recommendations References
45
Mining Association of Canada (MAC) Phone: + 1 613 233 9391 Ph Fax: + 1 613 233 8897 Web: www.mining.ca E-mail: info@mining.ca
Canadian Mining Industry Research Organization Phone: +1 705 673 6595 Fax: 1 F +1 705 671 6606 Web: www.camiro.org Email: info@camiro.org Coal Association of Canada Phone: +1 403 262 1544 Fax: + 1 403 265 7604 Web: www coal ca www.coal.ca Email: info@coal.ca
To investigate market dynamics, players, potential and competitiveness for Swedish firms To scan the market for potential candidates and to narrow down the search into a few interesting and interested distributors / partners for a face to f di t t d di t ib t t f f t face meeting with S di h firms ti ith Swedish fi To assist with business development and sales before, during and after the market entry & establishment To assist with identification of potential companies for acquisition in a confidential manner (without disclosing the identity of the client at initial stage) and to help with background checks and legal matters To assist with identification of potential suppliers based on a profile defined by Swedish clients To assist with incorporation of a company, immigration and management transfer, site selection, staffing, opening bank accounts and to provide referral to business service providers To provide referral to reputable law firms or experienced lawyers with expertise on the subject matter, when needed. Among examples are assistance with contracts/agreements, trademarks, patents, and incorporation.
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Legal
STC CANADA HAS HELPED NUMEROUS SWEDISH COMPANIES TO DO BUSINESS WITH THE CANADA MINING INDUSTRY
COMPANY BRIEF PROFILE A world leader in compressors, generators, construction and mining equipment, industrial tools, assembly systems and equipment rental. Atlas C Copco has four divisions; Compressor Technique, Construction f C C and Mining Technique, Industrial Technique and Rental Service. Alimak develop, manufacture and market passenger/materials hoists for the construction industry, permanently installed goods/passenger lifts for ind strial en ironments and a range of eq ipment for industrial environments equipment applications in underground mining, civil engineering and hydroelectric power generation ITT Flygt aims at helping governments, municipalities and companies to improve sewage handling, flood control, energy conservation land handling control conservation, reclamation and tunnel construction. Offers cemented-carbide and high-speed steel tools for metalworking applications. Sandvik also offers machinery, equipment and tools for rock-excavation and stainless and hi h ll steels, speciall metals, k ti d t i l d high-alloy t l i t l resistance materials and process systems.
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CANADIAN MINING INDUSTRY IS OF CONSIDERABLE SIZE AND MAY OFFER OPPORTUNITIES TO SWEDISH FIRMS
Canada is the worlds leading mining country and among the worlds largest producers of minerals and metals. metals There are some 388 000 Canadians working in mineral extraction and value added smelting 388,000 smelting, fabrication and manufacturing. Mining industry contributed $42 billion into Canadas GDP, of which about $10 billion were in extraction and $32 billion in mineral processing. There are more than 2360 service and equipment firms serving the mining industry Toronto is the worlds leading city for mining finance (41% of equity raised worldwide in 2005 was generated through the Toronto Stock Exchange). Vancouver is home to the worlds leading cluster of exploration companies and expertise Canada was the leading destination for exploration in 2005, receiving 19% of world spending, followed by Australia at 13% and the United States at 8%. In 2005, Canada ranked: 1 iin the globall production of potash and uranium 1st h l b d i f h d i 2nd in nickel and magnesium 3rd in titanium concentrate, aluminum, cobalt and platinum-group metals 4th in asbestos, zinc, cadmium and gypsum.
Source: The Canadian Association of Mining Equipment and Services for Export
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APPENDIX
APPENDIX 1 APPENDIX 2
Detailed map of current mining hot spots in Canada Detailed map of future mining hot spots in Canada
52
Flin Flon
(gold, copper, zinc)
Kitimat
(aluminum)
Thompson
(nickel, cobalt)
Rouyn-Noranda (copper) Val d Or (Gold, Val-dOr (Gold copper) Labrador City (iron. aluminum) Saguenay (aluminum, niobium) Bathurt (zinc, lead)
Kamloops
(copper, molybdenum, gold)
Trail
(lead, zinc)
Elk V ll Valley
(coal)
Timmins
Ontario, British Columbia, Saskatchewan and Quebec represent 75% of Canadian mineral production
Source: Information bulletin exploration, March 2006 (Natural Resources Canada) 53
More than 80% of exploration expenditures in 2004 was spent in Ontario Ontario, Quebec, Nunavut, Saskatchewan and British Columbia. Many of the future hot-spots are located within these five provinces.
Source: Overview of trends in Canadian mineral exploration 2005, Globe and Mail Sept 7 2006 and www.nrcan.gc.ca
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