Canada is a leading country in the mineral extraction industry and will continue to maintain consistent industry value growth over the coming years, despite COVID-19. Canada’s mining future is supported by significant growth in the gold sector, however declining iron ore and coal prices along with subdued production profiles will hinder the country’s overall mining growth.
The impact of COVID-19 led multiple mining firms to ramp down mining operations, leading to the decrease of production growth forecasts. However, the impacts of COVID-19 will be short lived in Canada as the gold sector is expected to see substantial production growth, supported by elevated gold prices and a strong project pipeline.
Canada is well positioned for future growth potential with the support of deals like the Canada-US Joint Action Plan on Critical Minerals Collaboration. This deal will help to secure supply chains and increased exploration for critical minerals, promote joint initiatives on research and development, leading to a decreased reliance on supply from China. In addition to collaborative deals and bills, Canada remains a favorable investment environment attracting a significant amount of exploration projects.
Our data findings make for an insightful read with each table telling a story. From the impacts of COVID-19 to the Canada-USA Joint Action Plan and tech and sustainability initiatives, each state’s
salaries echo the future of their mining industry for the year 2021.
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