Boston, MA -- (SBWIRE) -- 05/22/2014 -- We forecast Canada will remain a major player in the global mining industry owing to both its diversified mineral base and its status as a top destination for mining firms seeking to raise funds on capital markets. We expect the country to remain a top 10 global producer of zinc, lead, iron ore, nickel, copper, gold, silver, uranium and potash throughout our forecast period. As a sector considered key to the Canadian economy, we expect Canada's central political leadership to maintain favourable tax and regulatory policies for the sector, though acknowledge policies may vary across the provincial level.

We expect Canada's strengths as a mining destination to persist throughout our forecast period, enabling solid, if modest, industry growth through 2018. Still, as we forecast Chinese demand growth for metals to moderate and a see a still modest US economic recovery, Canada will need to grapple with a subdued external environment. Decreasing ore quality at some major existing mines and rising costs among major mineral exporters both pose downside risks to production, though such developments are also likely to encourage new exploration across Canada's untapped resources. While Canada is less cost competitive on a per-unit-of-output basis compared to some developing-world exporters, its technological, infrastructure, and governance advantages makes it an attractive investment destination. We therefore forecast positive, though modest growth, of 1.9% on average per annum between 2014 and 2018.

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