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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (55250)	9/21/2009 6:29:51 AM
From: elmatador	Read Replies (1) \| Respond to of 218009

Govt action needed to help sustain Canadian mining sector – association "average weekly earnings for a mining industry worker in 2008 were 44%, 42%, 35% and 33% higher than those of workers in the forestry, manufacturing, finance and construction sectors respectively. That explains why Vale has a problem ith the Inco workers in Sudbury. Govt action needed to help sustain Canadian mining sector – association TORONTO (miningweekly.com) – The Mining Association of Canada (MAC) on Monday presented the country's Mines Ministers, who are meeting this week in St John's, Newfoundland, with a list of actions that it believes are necessary to ensure the sector remains competitive. These include increased and ongoing investment in geoscience, tax incentives for investment in mineral exploration at depth in existing mine workings, and more efficient and streamlined regulation of pollutants and greenhouse gas emissions. “The Canadian industry faces competitiveness challenges, both at the raw materials and value-added processing stage,” said MAC president and CEO Gordon Peeling. “By focusing on the priority areas, Canada's Mines Ministers can contribute significantly to a stronger Canadian industry." In the latest edition of its 'Facts and Figures: A report on the state of the Canadian mining industry', the association also calls on the federal and provincial governments to ensure project review processes are handled openly and efficiently and for provinces to continue to modernise the minerals legislation. The availability of skilled workers also remains a concern for the industry, the association reported. According to the sector human resources council, some 60 000 to 90 000 new workers will be needed to meet anticipated Canadian production targets through to 2017. “Addressing this challenge will require a significant and coordinated effort by the industry and all levels of government in Canada,” the MAC commented. The association called on the Ministers to promote strategic infrastructure investments, such as transport infrastructure, to improve efficiency and costs, as well as to open up new areas for economic development. Finally, it commented that Canadian mining companies, which operate more than 350 mines in other countries, often come under pressure from foreign governments seeking a larger share of mining revenue. “The Canadian government can help mitigate the risks associated with business investment abroad by negotiating bilateral investment treaties, double-taxation agreements and free trade agreements,” the MAC said. C$40BN CONTRIBUTION TO GDP According to 'Facts and Figures', the mining industry remained a significant contributor to Canada's economy in 2008. The industry’s C$40-billion contribution to the nation's gross domestic product included C$9-billion in minerals extraction and $31-billion in mineral processing and manufacturing. The industry accounts for 19% of annual Canadian goods exports and an estimated 70% of Canadian port volumes and 55% of rail freight revenues are generated by the mining industry. There are also about 3140 suppliers that provide expertise to the industry, including hundreds of engineering firms, environmental firms, and legal and financial firms. Canada was the leading destination for global exploration spending in 2008, attracting 19% of world spending, followed by Australia at 14% and the US at 7%. Further, while the industry is important at the local community level, it also contributes to the economy of Canada’s larger cities, the MAC states. Toronto is a global hub for mining finance – the TSX has handled 81% of worldwide mining equity transactions over the past five years – while Vancouver remains “home to the world’s leading cluster of exploration companies”. “Montreal houses important aluminum and iron-ore companies, Edmonton has become a global centre for oil sands expertise and Saskatoon for uranium and potash.” Mining and its related industries are also important contributors to federal, provincial and territorial coffers - according to a recent study for the MAC, the industry paid an estimated C$11,5-billion in taxes and royalties to federal and provincial/territorial governments in 2008. “This payments-to-governments total actually reached a record high in 2008, despite the economic downturn in the fourth quarter,” the association said. According to 'Facts and Figures', average weekly wages and salaries in the Canadian mining industry were C$1 347 in 2008. Interestingly, the average weekly earnings for a mining industry worker in 2008 were 44%, 42%, 35% and 33% higher than those of workers in the forestry, manufacturing, finance and construction sectors respectively. Edited by: Liezel Hill