Boston, MA -- (SBWIRE) -- 11/20/2012 -- Canada's mining sector will remain one of the steadiest growth stories in the Americas region thanks to a diversified mineral commodity basket and growing demand from abroad. Canada mineral commodity production is diversified across base and precious metals as well as industrial minerals. The country is a top ten global producer of zinc, lead, iron ore, nickel, copper, gold, silver, uranium and potash. The mining sector is one of the most important industries to the Canadian economy not only from a production standpoint but also because it is home to some of the world's largest mining company headquarters. Because historical production has focused primarily on serving North American markets faster growth in emerging markets in Asia and elevated metals prices are encouraging mining companies to develop Canada's mineral potential.
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We maintain our forecast for Canada's mining industry value to reach US$33.8bn in 2016 as the country recovers strongly from the global financial crisis and emerging markets demand for minerals grows. Global demands on the world's mineral resources will drive changes in trade dynamics and encourage new exploration across Canada's untapped resources. We forecast average annual industry growth of 6.8% between 2012 and 2016 as Canada's stable business environment attracts consistent investment.
Sector Relies On Diverse Minerals For Growth
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