OTTAWA, March 3, 2019 /CNW/ - The Mining Association of Canada (MAC) welcomes the new Canadian Minerals and Metals Plan (CMMP), a milestone initiative in support of Canada's minerals and metals industry. The CMMP, which includes measures that aim to enhance the sector's competitiveness, advance the participation of Indigenous communities and promote Canada's role as a global leader in the mining sector, is an ambitious plan and provides vision that will position the industry for success in the years to come.
"We appreciated the opportunity to collaborate with federal, provincial and territorial governments to provide the perspective of Canada's mining industry throughout the drafting process of the CMMP," said Pierre Gratton, President and CEO of MAC.
Given the important role Canada's mining industry plays in the economy and as an employer in communities across the country, addressing the sector's waning competitiveness has been an issue of critical importance over the past several years.
"While Canada has long benefited from a prosperous minerals and metals industry, we are not immune to global competitive forces, and cannot take the benefits and opportunities that mining offers Canadians for granted," continued Gratton. "In order to attract greater investment and enhance the competitiveness of the mining sector, the CMMP proposes a number of initiatives, including strategic investments in infrastructure, supporting financing and taxation systems that support exploration, promoting more agile and efficient regulatory systems and investing in Indigenous training initiatives and mining innovation. If all of Canada's governments take steps to put this plan into action, the competitive landscape for new mineral exploration and mining investment will be much improved."
As demand for minerals and metals continues to grow, and with Canada a demonstrable leader in sustainable mining practices, there is tremendous potential for the country to position itself as a responsible supplier of the mineral and metal products the world needs.
"While much needs to be done to bolster the sector's domestic and international leadership, the good news is that Canada already has strong building blocks in place and the commitments in the CMMP are encouraging," concluded Gratton. "The federal Fall Economic Statement, which included a five-year renewal of the METC and enhanced accelerated capital cost treatment for resource projects, was an early example of actions that would make a material difference to Canada's competitiveness. The governments of Newfoundland and Labrador and British Columbia have already announced new measures to support investment in their mining industries, and we look forward to seeing the full implementation of federal, provincial and territorial Action Plans in the coming months."
The mining industry is a major sector of Canada's economy, contributing $97 billion to national GDP and responsible for 19 percent of Canada's total domestic exports. Canada's mining sector employs 634,000 people directly and indirectly across the country. The industry is proportionally the largest private sector employer of Indigenous peoples in Canada and a major customer of Indigenous-owned businesses.
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)
For further information: Cynthia Waldmeier, Director of Communications, the Mining Association of Canada, Phone: 613-233-9392 x225 or 613-894-2128 (cell), Email: [email protected]