Natural resources mining grows in Canada
Canada, a country whose national economy is based on the export and commerce of its natural resources, last year generated more than $50-billion-worth of minerals, Natural Resources Canada estimates indicate.
The Times Colonist reports that figure is significantly higher than the $19.6-billion-worth produced in 2001, per information from the Canadian agency. Mine optimisation has shown significant advancement during the 10-year period.
"We've seen just a huge surge in growth and investment, driven largely by demand from countries like China," vice president Paul Hebert with the Mining Association of Canada told the news service. "We're seeing a lot more exploration, we're seeing huge investments in projects of all sizes, investments to expand, but also investments in new projects."
The mining sector is set to see roughly $140 billion-worth of investment during the next five-year period, he noted.
One byproduct of the increases is the growing demand for more workers. In 2010, there were 308,000 employed in the industry, according to the Mining Association of Canada. Hebert said the next 10-year period will see 100,000 additional workers for the industry.
Even academic programs that provide training for the industry have noted the large-size growth.
The Lassonde Mineral Engineering Program at the University of Toronto has seen applications soar to the tune of 200 percent during the past 36 months, according to program director John Hadjigeorgiou.
"The message is out that there are lots of opportunities and high-paying jobs," he told the news source.
By this year, expenditures for exploration and deposit appraisal are projected to push beyond $4 billion in Canadian currency, according to Natural Resources Canada.