Mining in Canada to spend $150 billion over next 5 years

The heads of the Mining Association of Canada and the Ontario Mining Association told a Sudbury audience yesterday that Canada's mining industry will invest $130 billion in this country over the next five years. Multi-billion dollar investments are planned in virtually every province, MAC presidet Pierre Gratton told the Sudbury Chamber of Commerce.

Global demand for commodities is at a level not seen since the post-war boom of the 1950s, and this is creating great opportunities for Canada, which is well positioned, with is rich endowment of commodities, to capitalize on global demand. 

"We have a tremendous opportunity ahead of us." Gratton said, "We need to think strategically about how best to seize it by focusing on key challenges like regulatory efficiency, human resources and infrastructure."

Sudbury is particularly well positioned with its diversified mining cluster and its knowledge base. The city will be a key educator for the next generation of mine workers, said Gratton.

Chris Hodgson of the Ontario Mining Association, spoke of a "20-year window of opportunity" in which to build a new strategy for mines that will benefit the province, the industry and the community.