Canada is recognized around the world as a leading mining nation. Our minerals sector, which includes exploration, mining and related support activities, primary processing, and downstream product manufacturing, is a mainstay of the economy that supports jobs and economic activity in every region of the country. The country is home to several huge mining companies, with major projects around the world. However, there are many other projects within Canada worth noting.
Back River Project – Sabina Gold & Silver, Nunavut
Regulators initially rejected Sabina Gold & Silver’s Back River project in 2016 over concerns about its impacts on caribou populations, according to the Canadian Mining Journal. But in January, the federal ministry of Indigenous and Northern Affairs overturned that report, saying that the findings were premature and more information was needed to support a decision. After a second review, the Nunavut Impact Review Board approved the project, which is currently in the advanced exploration and permitting stage.
Coffee Project – Goldcorp, Yukon
Goldcorp acquired the Coffee gold project, 130 km south of Dawson City, through a takeover of Kaminak Gold. But the project stumbled when the Yukon Environmental Socio-Economic Assessment Board halted the assessment process after determining that Goldcorp hadn’t adequately consulted with First Nations communities. The project is an advanced exploration property and Goldcorp is confident it will be pouring gold at Coffee by the end of 2020.
Kemess Underground – AuRico Metals, B.C.
The site of a former open-pit mine from 1998-2011, AuRico Metals has submitted a feasibility study on its Kemess Underground project in north-central British Columbia. The project hosts reserves of 107.4 million tonnes grading 0.53 g/t gold, 0.27% copper and 1.99 g/t silver for 1.9 million oz. gold, 630 million lb. copper and 6.9 million oz. silver.
Nico – Fortune Minerals – N.W.T.
Fortune Minerals discovered the Nico deposit, 160 km northwest of Yellowknife, in 1996, but it’s getting a push now because of growth in the cobalt market. Cobalt is used to make electric vehicle batteries, but supply isn’t keeping up with demand, with the bulk of the world’s stock coming from the Democratic Republic of Congo. Fortune says it continues to pursue off-take agreements and financing solutions with the objective of commencing construction activities as soon as project financing is secured.
Voisey’s Bay – Newfoundland Hard-Rok/Dyno Nobel Labrador, Newfoundland & Labrador
The Voisey’s Bay nickel-copper-cobalt mine is located in northern Labrador, about 35 kilometers southwest of Nain. Earlier this year, the mine’s owner, Brazil’s Vale, said it would proceed with the underground expansion of the mine, extending operations by at least 15 years and creating 1,700 jobs. Dyno Nobel Labrador, a wholly-owned subsidiary of Newfoundland Hard-Rok, which is led by Edmonton’s Glen McKay, was awarded the initial contract in 2004 to design, build and operate a bulk emulsion plant to supply the mine’s needs. This year, when Vale announced the expansion of Voisey’s Bay, Dyno Nobel Labrador was once again awarded the explosives contract. On October 16, 2018, the first blast was safely loaded and detonated, officially marking the start of the transition to underground mining at Voisey’s Bay.
The above examples are just a few of the ongoing mining projects within Canada’s borders. While mining is important to Canada at the local community level, it also contributes to the economies of large cities, according to the Mining Association of Canada. Toronto, for example, is the global hub for mining finance. The Toronto Stock Exchange (TSX) and TSX Venture Exchange accounted for 57% of the global mining equity raised in 2016. Vancouver features the world’s leading cluster of exploration companies, while Montreal is home to major aluminum and iron ore firms. Edmonton has become a global center for oil sands expertise and Saskatoon for uranium and potash.