Scotiabank Vice President Patricia Mohr Bullish About Mining Prospects
OTTAWA, Nov. 20, 2012 /CNW/ - In a keynote address to the Economic Club
of Canada, Patricia Mohr, Scotiabank's Vice President of Economics and
Commodity Market Specialist, provided a bullish outlook on mineral and
metal prices over the long term, underscoring the potential value to
Canada as a major mining jurisdiction.
"Over the medium-term, the 'emerging markets' including China will
remain supportive for commodity prices, notwithstanding this year's
slowdown," said Ms. Mohr.
In her address, Ms. Mohr looked at the fundamental drivers of the mining
business; in particular, the role of China and 'emerging markets' as
consumers of mineral and metal products. While China is in transition
to lower-trend growth, further industrialization, modernization and
urbanization will continue to drive demand for metals. Ms. Mohr points
out that metals and minerals account for one-third of Canada's net
exports of all commodities and resource-based manufactured products.
New mining plays—such as the world-class 'Labrador Trough' iron ore
region and 'The Ring of Fire' chromite development in northern
Ontario—will continue to provide significant economic benefits to
"Ms. Mohr's comments underscore the major opportunity for Canadians to
capitalize on new investments in the mining sector, estimated to be
worth $140 billion over the next decade," stated Pierre Gratton, CEO of
the Mining Association of Canada (MAC). "Keys to success will be
creating an enabling regulatory environment, proactively addressing
skills shortages and investing in critical infrastructure to capitalize
on new projects and ensuring access to emerging markets."
Ms. Mohr's address to the Economic Club coincided with MAC's annual
Mining Day on the Hill, during which representatives of Canada's mining
sector met with politicians and officials to discuss opportunities in
the mining industry and key challenges.
The Mining Association of Canada is the national organization for the
Canadian mining industry. Its members account for most of Canada's
production of base and precious metals, uranium, diamonds,
metallurgical coal, mined oil sands and industrial minerals and are
actively engaged in mineral exploration, mining, smelting, refining and
semi-fabrication. Please visit www.mining.ca.
SOURCE: Mining Association of Canada (MAC)
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