| 2009 was a very difficult year for the Canadian | | | | Statistics for our historical export and production |
| mining industry. Falling minerals and metals prices | | | | data. We then forecast this data using our own |
| and uncertainty over the economic outlook saw | | | | proprietary econometric model. Human |
| mines closed, production levels cut, projects | | | | intervention also plays a necessary and desirable |
| deferred and exploration budgets reduced. | | | | role in our mining forecasting; experience, |
| According to figures from Natural Resources | | | | expertise and knowledge of industry trends and |
| Canada, the total value of minerals produced in | | | | developments ensure that we can spot likely |
| Canada fell by 31.5% year-on-year (y-o-y) to | | | | future changes and anomalous data that a purely |
| CAD32.2bn. Metallic mineral production fell to | | | | mechanical model would not. |
| CAD16.2bn (down 28.5%), non-metallic mineral | | | | Country Overview |
| production fell to CAD11.5bn (down 40.9%) and | | | | Canada is home to reserves of coal, copper, gold, |
| coal production fell to CAD4.5bn (down 8.9%). | | | | iron ore, nickel, uranium and zinc, among other |
| However, with the worst of the global economic | | | | minerals. The country is now in second place in |
| crisis now widely believed to be over, there are | | | | the world in terms of uranium production, having |
| reasons for optimism in 2010 and beyond. There | | | | lost its number one slot to Kazakhstan during |
| are a spate of new mine openings planned for the | | | | 2009. |
| coming years, including Terrane Metals Mount | | | | Industry Forecast |
| Milligan copper and gold mine, Taseko Mines | | | | After a difficult 2009, where we estimate that |
| Prosperity copper and gold mine and Copper | | | | the total value of the Canadian mining industry |
| Mountain Mining's copper and gold mine in British | | | | shrank by some 10% y-o-y, we now believe that |
| Columbia. Additionally, Cameco and Areva are | | | | the scene is set for strong growth from the |
| both developing new uranium mines in | | | | industry over our newlyextended forecast period |
| Saskatchewan. All of which bodes well for the | | | | to 2014. |
| future development of the Canadian mining | | | | With several important new mining projects set |
| sector. | | | | to commence production in the coming years, in |
| New Data | | | | the copper, gold and uranium sub-sectors, the |
| For 2010, BMI has made significant changes to the | | | | sector as a whole should be able to post an |
| way in which we forecast mining data. As well as | | | | annual average growth rate of some 7.4%. |
| using local statistics agencies and associations, we | | | | |
| now also draw on the expertise of the UN's | | | | ReportsandReports, comprising of an online library |
| Industrial Commodity Statistics Database, the US | | | | of 10,000 reports Canada Mining Report 2010 |
| Geological Survey and the World Bureau of Metal | | | | Market Research Report now in store. |