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 national organization representing Flin Flon's lifeblood industry is giving the new federal budget a thumbs up. The Mining Association of Canada issued a news release to endorse the budget, unveiled Monday by the new majority Conservative government. "The mining industry is an engine of economic growth in Canada and we applaud those measures in the budget that support and enhance that growth," said Pierre Gratton, president and CEO of MAC. Favorable MAC singled out as favourable five components of the budget: Ongoing reductions in Canada's corporate tax rate. Continued support for enhanced flow-through shares. Support for strategic infrastructure investments like the construction of an all-weather road between Inuvik and Tuktoyaktuk, both in the Northwest Territories. Enabling Ridley Terminals, which owns a key marine terminal in Prince Rupert, B.C., to borrow from capital markets so it can proceed with much-needed facility expansion plans. Funding an India strategy that combines branding, market development, academic partnerships and free-trade negotiations; as India is seen as offering attractive long-term, mutually-beneficial opportunities for Canada's mining industry. "The current strong resurgence in commodity prices, driven by emerging markets, is creating new opportunities for growth and investment in Canada's mining sector not seen in a generation," said Gratton. "Several new mining projects are in construction across Canada while many others are in advanced stages of development, promising billions of dollars in new investment and thousands of jobs in every region of the country." Rebound MAC said mineral exploration has rebounded from the 2008 economic crisis, and Canada continues to attract the largest share of global exploration spending. The mining industry accounts for some 19 per cent of Canadian exports, contributes over $10 billion in annual payments to governments, and provides business for 3,200 supplier companies. While important in remote communities, the industry also generates prosperity in major cities, MAC said, as Toronto, Vancouver, Montreal, Edmonton, Calgary and Saskatoon all feature areas of global mining leadership. Ð Compiled from a Mining Association of Canada news release.
