Canadian mining output to double by 2020: report
(01-30 14:54)
The output and employment of the mining sector in Canada's north is forecast to almost double by the end of the decade.
The Conference Board of Canada, a respected not-for-profit applied research organization, forecasts Canada's overall northern metal and non-metallic mineral output will grow by 91 per cent from 2011 to 2020, a compound annual growth rate of 7.5 percent, Xinhua news agency reports.
The annual gross domestic product of mining in the north, which was 4.4 billion Canadian dollars in 2011, is expected to reach 8.5 billion Canadian dollars in 2020, it said in a report released earlier this week.
The rapid growth meant mining and its supporting industries would continue to be important economic drivers in many of Canada's northern regions, with the Canadian economy forecast to grow by an average of only 2.2 percent annually over this period, it said.
However, the report also noted achieving this outcome depended on greater efforts by industry, governments and communities to address key issues, including infrastructure, regulatory uncertainty, skills shortages and Aboriginal rights.
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