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$130B in mine investments projected

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

The Mining Association of Canada projects that roughly $130 billion worth of investment will be pumped into the nation's mining industry over the next five years. That includes both new projects and expansions to existing operations, Pierre Gratton, president and CEO of MAC, told the Chamber of Commerce in Sudbury, Ont., last week. "Multi-billion dollar investments are planned in virtually every province and territory of Canada," he said. "Global demand for commodities is creating opportunities not seen since the post-war boom of the 1950s. As a global mining superpower, Canada is well positioned to capitalize on this opportunity. Canada is fortunate to have a rich endowment of commodities and over the past several decades we've developed best-in-class expertise in extracting materials in an environmentally responsible manner." Never one to keep his enthusiasm to himself, Gratton said "Canada is among the most attractive jurisdictions in the world for mineral exploration and new mine investment." "We have a tremendous opportunity ahead of us," he added. "We need to think strategically about how best to seize it by focusing on key challenges like regulatory efficiency, human resources and infrastructure." MAC represents mining companies across Canada. Ð Compiled from a Mining Association of Canada news release.

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