Capitalizing on Canadian Leadership in a Global Market
May 11, 2018
Canada is taking centre stage
A strong Canadian mining industry is about successful, sustainable mining and associated activities taking place on Canadian soil. It is also about the global competitiveness and leadership of Canadian companies operating abroad.
Canadian mining has a socio-economic impact around the world. In 2015, publicly traded, Canadian-based companies had total mining and exploration assets of $171 billion spread across more than 100 foreign countries. Top destinations for Canadian mining assets are the United States (15%), Mexico (11%), and Chile (11%).
The Mining Association of Canada reports that its member companies spent US$10.7 billion in host countries, and employed more than 53,000 people at international operations.
Canada's international trade agreements expand opportunities for the Canadian industry, and Canada works with partner governments to build capacity in mineral resource governance and to promote the conditions that support Canadian investors.
Canada is a global leader in the provision of mining services and the development of innovative technologies for the industry. More than 3,000 companies provide technical, legal, financial, accounting, environmental, and other expertise, and many of these companies have a global presence.
Canada's Brand is important for attracting foreign direct investment (FDI) for mining at home, where it creates employment and business opportunities. As noted, mineral exploration and mine construction and operation are long-term, high cost activities requiring significant capital. FDI can help realize new mining projects, support infrastructure development, and drive innovation.
