CAMBRIDGE, ON, Oct. 2, 2014 /CNW/ - The Honourable Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario), on behalf of the Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, delivered remarks today during the 2014 Northwind Mining Invitational Forum.
Minister Goodyear underscored the Government of Canada's ongoing efforts both nationally and internationally to improve the viability and long-term competitiveness of Canada's mining sector. The Minister highlighted the Government's commitment to responsibly developing Canada's natural resources while engaging with Aboriginal communities in order to maximize their participation and benefits.
The Minister highlighted how the Government is supporting the industry with initiatives such as a $100-million commitment over the next seven years for the Geo-Mapping for Energy and Minerals (GEM) plan to help exploration companies find deposits and create jobs; extending the Mineral Exploration Tax Credit in Economic Action Plan 2014, which has helped junior exploration companies raise $5 billion in capital; and the Green Mining Initiative, which helps reduce the environmental impacts of mining through footprint reduction, innovation in waste management, mine closure and rehabilitation, as well as providing ecosystem risk management.
The Government of Canada is committed to working with the industry to attract investment, support innovation, open new markets and improve the regulatory system for major mining projects to maintain Canada's competitiveness and position as a global mining leader.
- The natural resource sectors directly and indirectly account for as many as 1.8 million jobs for Canadians and almost one-fifth of Canada's gross domestic product (GDP).
- The mining sector employs nearly 400,000 Canadians, including over 10,000 Aboriginal people. It also generates more than 20 percent of Canada's exports.
- Canada remains the world's top destination for mineral exploration, attracting 16 percent of global investment.
- Canada's mining companies account for nearly 10 percent of the money Canada invested abroad in the last decade, improving the quality of life for millions of people.
"We are proud of our vast natural resources and our capacity to meet the growing domestic and global demand for energy, minerals and metals. To maintain our competitive advantage and world-class reputation, we will continue to work collaboratively with various levels of government, as well as with industry and communities, while advancing responsible resource development."
Minister of State (Federal Economic Development Agency for Southern Ontario)
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SOURCE: Natural Resources Canada
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