Canadian province British Columbia could generate up to $90 billion in economic activity from mining projects in advanced stages of development, according to a study conducted by the Mining Association of British Columbia (MABC).
To unlock this potential, the association has urged the government to reduce regulatory burden.
“British Columbia has the minerals, precious metals and steelmaking coal the world needs,” said MABC president and CEO Michael Goehring.
“Mining has the potential to drive a new wave of economic growth – creating jobs, strengthening local and First Nations communities, and generating revenues for government services.”
The organization said that 27 projects in advanced stages of development include 18 critical minerals and 6 precious metals, and 3 steelmaking coal mines. Cumulatively, they would inject over $41 billion as near-term investment into the provincial economy, $27 billion as labour income and more than $12 billion as tax revenue. Meanwhile, suppliers of goods and services across British Columbia are expected to get $20 billion from mine developers.
“Persistent permitting delays must be addressed to accelerate the development of mining,” Goehring added.
Once in operation, the cumulative economic contribution of these projects could reach $984 billion over several decades, the report said.
Theodor Lisovoy, Managing Editor, Rough&Polished
