The Influence of Mining on Canada's Economy

Mining, such as the refining and processing of valuable rocks and minerals, is one of the leading industries in Canada today. As of 2012, the total mineral production in Canada was more than $46 billion, which is 3.4% of the country’s gross domestic product.  In addition, Canadians depend on this industry for job positions.  While some believe this industry has declined in recent years, certain areas, mainly the northern provinces and territories, still rely quite heavily on mining. In this article, we will show you the benefits of the mining industry and its place in the Canadian economy.

The Benefits of Mining

In addition to promoting the country’s economic growth, the mining industry provides several benefits, including:

• Job creation,
• Mineral exportation,
• World leaders,
• The development of safe and sustainable practices.

In Ontario alone, they produced $10.8 billion in mineral production during 2015.  When you expand to include all the indirect impacts of the industry, the production value increases to $18.5 billion.  Overall, Ontario provided more than $12 billion towards the Canadian gross domestic product (GDP).  This industry, both directly and indirectly, created more than 78,000 jobs. 

Positive Impacts on Other Industries

Did you know that minerals and metals are found in many common types of products, such as computers, smart phones, vehicles, buildings, etc.?  It also affects dozens of other industries and sectors in Canada, including transportation, equipment manufacturing, education, construction and geological services.  The size and importance of the mining industry also plays a huge factor in the financial industry.  For example, the Toronto Stock Exchange is the leading global mining exchange. 

Mining and the Environment

Due to the concerns about the negative impact of large-scale mining on the surrounding area, many Canadian companies have begun adopting social responsibility initiatives, including engaging the community and researching the impact mining is having.  As a result, they are now promoting green technologies to exploit the Earth’s resources.

3 Interesting Facts About the Mining Industry

• In total, there are 373,000 workers in the mining industry across the country, in addition to 190,000 indirect jobs.
• 19% of goods exported are made by the mining industry.
• Canada produces more than 60 minerals and metals, making it the largest mining country in the world.

Your Mining Product Supplier

Plastech Plus offers a variety of products to meet your needs for mining. As a major supplier for drilling muds, polymers and ground sampling supplies, they are involved in the development of the Canadian mining industry. Visit our website for all your mining needs today!