OTTAWA, Feb. 9, 2012 /CNW/ - The Mining Association of Canada (MAC) is pleased by the federal government's announcement of the successful completion of negotiations between Canada and China on an agreement that will facilitate increased exports of Canadian Uranium to China.
The agreement is a Protocol that supplements the Agreement between the Government of Canada and the Government of the People's Republic of China for Co-operation in the Peaceful Uses of Nuclear Energy of 1994.
"The Prime Minister's trip to China has been incredibly productive, but the signing of this Agreement is especially good news for Canada's mining industry and, in particular, for the people of Saskatchewan, Canada's second largest mining jurisdiction," said Pierre Gratton, President and CEO of MAC. "The demand for Canada's natural resources is stronger than it has been in many years, driven significantly by China. With almost $140 billion of capital investment expected in Canada's mining sector over the next five years, the Agreement will enable continued growth for Canada's markets and more jobs and growth for the industry. We look forward to the finalization of the Protocol."
The Mining Association of Canada also welcomed the conclusion of substantive negotiations on a bilateral Foreign Investment Promotion and Protection Agreement. "FIPA's provide industry with enhanced confidence necessary for long term investments abroad," added Gratton. "As one of Canada's most important outward investors, and given the strategic importance of China to Canada's economic future, Canada's mining industry is pleased by the progress made by Canada and China on this agreement."
About the Mining Association of Canada:
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.
For further information:
Paul Hebert at (613) 233-9392, ext 325