Reports Highlight Significant Economic Impact of Mining Sector
New research guides long-term development
The Ontario government is investing in new research by the mining industry to guide long-term development of this economically vital sector.
Two independent reports, funded in part by Ontario, highlight the significant economic impacts -- including job creation -- of the province's mineral sector activity, and provide advice on how to maximize this impact:
- The Ontario Mining Association (OMA) has released a report estimating the economic impact of a new gold mine in a relatively remote area of Northern Ontario to guide planning for all aspects of such a mineral development, including job training and creation. See: An Au-thentic Opportunity: The Economic Impacts of a New Gold Mine in Ontario
- The Canadian Association for Mining Equipment and Services for Export (CAMESE) has released the first study that assesses the economic impact of the province-wide mining supply and services sector in Ontario, and identifies potential challenges as well as opportunities for growth. See: Pan-Ontario Mining Supply and Services Sector Economic Impact Study
Maximizing Ontario's mineral potential is part of the government's economic plan for Ontario. The four part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.
- Ontario is investing $300,000 in the two independent reports ($80,000 and $220,000 for the OMA and the CAMESE reports, respectively).
- Ontario mineral production was valued at $9.8 billion in 2013, which accounted for 23 per cent of the national total.
- In 2013, 26,000 Ontarians were directly employed in the mining sector, with an additional 50,000 in related manufacturing and processing industries.
- In 2011, the mining equipment and services sector contributed approximately $6.2 billion to Ontario’s economy.
“As the global mining economy evolves, and new competitors emerge, it is vital for Ontario to remain a world leader in mineral exploration and mining investment. Partnering in research that presents the industry in a new light and suggests new avenues for development is invaluable to business and our government alike. I commend industry for commissioning these reports, and I am pleased to highlight them during this year’s Meet the Miners event at Queen’s Park.”
“The numbers in the study An Au-thentic Opportunity: The economic impacts of a new gold mine in Ontario speak loudly and clearly about the positive contributions a new gold mine would make for the economy of Ontario. Perhaps the most important aspect of the widespread benefits of new gold mine is the open doors it provides for thousands of people.”
“We thank the Ontario Ministry of Northern Development and Mines for realizing the potential economic importance of mining supply in the province, and for providing part of the funding which made this possible.”