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TORONTO — The Honourable Joe Oliver, Canada’s Minister of Natural Resources, today joined Ungad Chadda, Senior Vice President of the Toronto Stock Exchange (TSX), to sound the siren and officially open the market. Minister Oliver took part in this event to launch this year’s National Mining Week, an annual celebration of Canada’s international leadership and expertise in mining.
“Our Government is committed to the continued prosperity of Canada’s mining sector,” said Minister Oliver. “National Mining Week is an opportunity to highlight how realizing the potential of mining is essential to our Government's goal of jobs, growth and long-term prosperity for Canadians.”
Minister Oliver addressed TSX employees prior to the event, where he reiterated the importance of Canada’s mining industry as a vital engine of economic growth.
“Mining continues to be a cornerstone of the Canadian economy, providing good jobs and benefits to communities across the country,” added Minister Oliver. “While generating revenues for critical social programs like health care and education, the mining sector directly employs 330,000 Canadians and contributed $63 billion to Canada’s nominal GDP in 2011. This activity accounts for 3.9 percent of the total Canadian economy.”
Canada is among the world’s mining giants, with mining interests worth nearly $150 billion in over 100 countries. Close to 60 percent of the world's publicly listed mining companies list on the TSX or the Toronto Venture Exchange and 70 percent of the global mining equity capital in 2012 was raised on these two exchanges.
“Our Government is also working closely with industry on the Green Mining Initiative to reduce the mining sector’s environmental footprint and to position Canada as a global leader in responsible mining development,” concluded Minister Oliver.
Following the event, Minister Oliver will travel to Mississauga where he will tour the Holcim (Canada) Inc. cement plant, meet with employees and witness first hand the minerals processing industry at work. He will be joined by Stella Ambler, Member of Parliament for Mississauga South.
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