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B.C.’s responsible resource growth to help Canada maintain its reign as a global mining powerhouse

May 10, 2012

Kamloops region is particularly poised for growth from new projects and
expansions

KAMLOOPS, BC, May 10, 2012 /CNW/ – British Columbia’s robust and
responsible resource sector will help propel the $140 billion in new
mining investment expected across Canada over the next five years, says
the Mining Association of Canada (MAC). MAC estimates that B.C. has the
potential to see more than $30 billion in investment from 30 projects
over the next 10 years.

“As the third-largest mining jurisdiction in the country, B.C. will be a
major contributor to the overall strength of the mining industry, which
we expect to remain steady for years to come. That will bring numerous
economic benefits and opportunities to British Columbians, while at the
same time, help Canada maintain its status as a global mining
superpower,” Pierre Gratton, MAC President and CEO, said during a
speech in Kamloops on Thursday to celebrate Mining Week in the
B.C.-interior city.

The City of Kamloops declared May 6-12 Mining Week alongside other
celebrations taking place across the province in May to recognize the
importance of the industry to the B.C. economy.

The mineral exploration, development and mining industry generated $8.9
billion in economic activity in B.C. in 2010, according to
PricewaterhouseCoopers (PwC).  The industry generated more than 21,000
direct jobs, 8,200 of which were at operating mines across the province
and paid average salaries of more than $100,000 annually.

Across the Okanagan region in the interior of B.C., mineral exploration,
development and mining accounted for more than 3,400 jobs and
contributed $800 million to the local economy in 2010, according to
PwC.

The Kamloops region is the largest copper-producing area in Canada. Teck
Resources Ltd.’s Highland Valley Copper mine, located southwest of
Kamloops, is one of the largest copper mining and concentrating
operations in the world. The Kamloops region is also home to New Gold’s
New Afton copper-gold mine, scheduled to begin production this summer,
as well as two proposed projects: KGHM International’s Ajax mine and
Yellowhead Mining’s Harper Creek project.

“The mineral exploration, development and mining industries have been
big economic contributors to the Kamloops region for many decades, and
we expect that trend to continue for many more,” said Mining
Association of British Columbia President and CEO Karina Briño, who also spoke at the Kamloops luncheon. There were more than 200
people in attendance at the event, including executives from many of
the major mining companies operating in the region.

Both association CEOs also highlighted the importance of responsible,
sustainable development in the industry, citing a commitment to work
with communities and First Nations to ensure everyone benefits from the
industry’s growth.

“Communities and mining companies can work together to find common
ground to benefit from the economic growth the mining sector is
expected to bring to the province in the foreseeable future,” said
Briño.

This year marks the 25(th) anniversary of B.C. Mining Week celebrations. May 13-19 is B.C. Mining
Week, as declared by the B.C. Legislature. For more information on B.C.
Mining Week and events, visit: www.miningweek.ca

About the Mining Association of Canada (MAC)

MAC 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

About the Mining Association of BC (MABC)

MABC represents companies involved in the exploration and development,
mining and smelting of minerals, metals, coal and industrial minerals
in British Columbia. It is regarded as the pre-eminent voice of mining
in the province.

SOURCE Mining Association of Canada (MAC)


Source: PR Newswire