Market Overview

Canada Drives Forward on Mining Vision for 21st Century

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TORONTO, March 1, 2020 /CNW/ - The Canadian Minerals and Metals Plan (CMMP) is a milestone in our mining history, outlining a new vision for mining that will help Canada seize the generational opportunities of this clean-growth century.

Today, Canada's Minister of Natural Resources, the Honourable Seamus O'Regan, along with provincial and territorial ministers, industry and Indigenous business leaders, introduced the first Action Plan under the CMMP, to bolster the competiveness of Canadian mining in the 21st century. The Minister made the announcement at the 2020 Prospectors & Developers Association of Canada (PDAC) Convention in Toronto.

Declaring that "mining's moment is now," Minister O'Regan explained that the Action Plan includes specific measures that government and its partners are taking to establish Canada as the leading mining nation in the 21st century. That includes seizing the opportunities presented by the global economy's clean energy transition.

Canada's Ministers responsible for mining agreed to pan-Canadian initiatives under each of the six strategic directions identified in the CMMP:

  • Economic Development and Competitiveness: A new pan-Canadian public geoscience strategy to responsibly develop our geological resources, including critical minerals.
  • Advancing the participation of Indigenous Peoples: Indigenous procurement conferences and other measures to support Indigenous business development and help deliver long-term benefits for communities.
  • The Environment: A new mandate for the multi-stakeholder National Orphaned/Abandoned Mines Initiative with a greater focus on climate-related risks, remediating legacy mines, improving financial assurances at new mines, and more.
  • Science, Technology and Innovation: Innovation prize challenges to help develop made-in-Canada solutions to global mining challenges and improve Canada's innovation outcomes.
  • Communities: A mineral literacy hub and a "Canadians of Mining" campaign to build community support for sustainable mineral development and attract underrepresented groups to this high-tech sector that is key to a green economy.
  • Global Leadership:  A "Canada Brand for Mining" to translate Canadian leadership and best-in-class products into more foreign direct investment, driving more jobs and growth in Canadian communities

Over the coming months, Ministers will continue to engage on the Action Plan, with additional initiatives to be released at the 2020 Energy and Mines Ministers' Conference. Further CMMP Action Plans will be released in 2021 and 2022, with subsequent editions following every three years enabling Canada to adjust its approach and respond to future opportunities.  

Canada's minerals and metals industry is a key contributor to the Canadian economy, accounting for 626,000 direct and indirect jobs—including 16,500 jobs for Indigenous Peoples—19 percent of Canada's total domestic exports, and approximately $47 billion in mineral production from mines and quarries across all regions.

Quotes

"Mining's moment is now. The world needs more of Canada's valuable, sustainably produced minerals and metals. This Action Plan begins our work to put Canadian mining on a track to benefit from the global shift to a cleaner and more digitalized economy."

The Honourable Seamus O'Regan
Canada's Minister of Natural Resources

Related Information

Follow us on Twitter: @NRCan (http://twitter.com/nrcan)


SOURCE Natural Resources Canada

View original content: http://www.newswire.ca/en/releases/archive/March2020/01/c1666.html

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