Mining and Its Impact in Canada’s Economy: Why It’s Important

When it comes to breaking down the pillars that contribute to the modern society in Canada, minerals and metals play the most crucial roles as they serve as the building blocks of the economy we know today.

Mining paves the way for greater and more efficient transportation networks, food productions, and the construction of skyscrapers for business districts, but it also has a hand in everyday conveniences from electronics, medical instruments, and even something as seemingly menial as toothpaste!

The Multifaceted Uses of Minerals and Metals in Canada

As mentioned above, mining is an important function in modern society since it facilitates the production of countless technologies, buildings, and consumer products. Seeing as Canada is rich with mineral resources, the industry continues to expand its mining efforts, ranking in the top five worldwide as the producers of major minerals and metals such as potash, uranium, niobium, nickel, cobalt, aluminum, platinum, gold, and diamonds.

The expansive landmass also facilitates a wide range of mining activities from mineral exploration, development, production, processing, site reclamation, and more, wherein different states come out on top as pioneers of their trade. Newfoundland, for instance, takes the lead as one of the primary contributors to iron ore and nickel.

What are the Popular Applications of the Mining Industry in Canada?

Mining and Its Role in Advancing Green Technologies

Spearheaded by Natural Resources Canada, the Green Mining Initiative strives to help mining companies increase their environmental impact and open up technologies that promote sustainable solutions. It’s naturally a joint venture throughout territorial governments, industries, non-governmental organizations, and other stakeholders who want to participate in Canada’s efforts to achieve cleaner living.

Using Metals and Minerals to Manufacture Sustainable Energy Applications

Canada is one of the world’s leading producers of copper, nickel, and cobalt, all of which are important minerals necessary for manufacturing clean energy applications like solar cells, high-density batteries, wind turbines, and more.

Leading the Globe’s Mineral Production

In 2019, Canada’s mineral production skyrocketed to a whopping $48.2 billion, wherein gold was ranked as the top commodity with an impressive value of $10.3 billion. We also mentioned how Canada is a global leader in producing essential minerals, being one of the most important providers for cadmium, cobalt, diamonds, gemstones, gold, graphite, indium, nickel, niobium, platinum, salt, uranium, and more.

The Bottom Line: Breaking Down the Importance of Mining in Canada

Exploring mining opportunities allows mining exploration companies to progress their developmental projects and uncover hidden deposits, allowing the economy to grow greener as rare elements are unearthed. Widening your knowledge of the recent exploration activities throughout Canada can encourage innovators and leaders to push the mining industry forward in more ways than one.

How Can We Help?

Mining plays a pivotal role in the growth of Canada’s economy, that’s why Newfoundland Gold strives to grow your awareness of the companies that take charge in mineral exploration and mining projects throughout the Land of Opportunity. Explore Newfoundland mining companies with us and see what we can do to help you innovate.