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Northern Canada mining market: Potential investment of over $20 billion

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Territories Mining and Exploration 2012 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-13 19:07:01
Northern Canada is home to world-class natural resources that represent tremendous economic potential. Currently, the mining and energy sectors are responsible for about one-quarter of Northern GDP and approximately 5,000 jobs.

According to some estimates, one-quarter of our known reserves of conventional oil and gas can be found in the North. The number of mines in operation continues to grow, and exploration activities are on the rise. In all, more than 25 projects are in the works for Canada´s Arctic, representing over $20 billion in potential investment in the mining sector. If developed, these projects would create thousands of direct jobs, as well as thousands of indirect jobs in the manufacturing, transportation and services sectors.

The Government of Canada is laying the foundation for economic development in the North through initiatives such as the Geo-mapping for Energy and Minerals (GEM) program. This $100-million program is delivering fundamental public geoscience knowledge that enables Northerners to make informed decisions about their future economy and society.

GEM collects information that provides a better understanding of the resource potential in the North, which in turn encourages private sector investments in mining and exploration. For every region that attracts economic development, there are improvements in living conditions, health and safety, education and employment. In short, development leads to a higher standard of living and quality of life.

The Government of Canada is committed to ensuring that Northerners have access to the same economic opportunities as all Canadians, which is why the Northern Jobs and Growth Act was introduced. This Act fulfills obligations flowing from land claims, and proposes mechanisms to improve regulatory processes, encourage investment, and allow resources to be developed in a sustainable manner. These changes will help create a more stable investment climate in the North by increasing the predictability and efficiency of the review process for major northern projects. This will lead to jobs, economic growth and long-term prosperity for Northerners.

The abundance of natural resources in Canada´s Arctic could potentially fuel the country´s prosperity for decades to come. The Government of Canada has made the North a priority, and it is committed to ensuring that Northerners benefit from the significant natural resource reserves that are found in their region.

Report Scope

The Territories Mining and Exploration 2012 book provides a thorough examination of both the amazing geological potential these lands hold and the uniquely challenging environment they present, through exclusive interviews and guest articles from the industry´s leaders, alongside extensive coverage of these issues provided by GBR´s own on-the-ground journalists.

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Mike King
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