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OTTAWA — The Honourable Joe Oliver, Canada’s Minister of Natural Resources today highlighted the start of the 17th annual National Mining Week. First established in 1996, National Mining Week recognizes the importance of the Canadian mining industry to Canada’s economic development.
“Mining’s economic impact is felt in every region of Canada — from exploration companies in remote areas, to equipment suppliers in small towns, to the financial service sector in our biggest cities — creating jobs and business opportunities and supporting industries, workers and communities,” said Minister Oliver. “We are committed to attracting investment, supporting innovation, opening new markets and improving the regulatory system for major mining projects.”
Our plan for Responsible Resource Development is ensuring that Canada’s regulatory regime for natural resource projects is among the most efficient, effective and competitive in the world. Canada has a world-class environmental protection regime and we are committed to ensuring that natural resources, including our mineral resources, are developed responsibly.
The Government of Canada has put in place various measures to enhance mining innovation, productivity and competiveness. Actions taken by the Government since 2006 to improve Canada’s business tax system, including corporate income tax rate reductions and the elimination of the federal capital tax, have increased the competitiveness of all businesses in Canada, including the mining sector.
Internationally, the Government supports sustainable economic growth, job creation and poverty reduction in developing countries through the establishment of the Canadian International Institute for Extractive Industries and Development. The Institute promotes transparency, accountability, corporate social responsibility and good governance in the natural resource sectors.
Since 2007 Canada has also been a supporting country of the Extractive Industries Transparency Initiative, and is now the second largest financial donor to the initiative, providing $12.65 million to the World Bank’s Extractive Industries Transparency Initiative Multi-donor Trust Fund, and $10 million to the World Bank’s Extractive Industry Technical Advisory Facility.
Canadian exploration, mining, and allied industries operate in over 100 countries around the world, with cumulative assets worth nearly $147 billion outside of Canada (2011). In Canada, the mining, mineral processing and associated manufacturing sectors directly employed 330,000 Canadians and contributed an estimated $63 billion in nominal GDP in 2011, accounting for 3.9 percent of the Canadian economy.
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