Minister Oliver Reinforces Harper Government’s Support for the Mining Industry

March 3, 2014

Toronto Natural Resources Canada

Canada’s Minister of Natural Resources, the Honourable Joe Oliver, today spoke at the opening ceremony of the Prospectors and Developers Association of Canada’s (PDAC) International Convention, Trade Show & Investors Exchange. Minister Oliver outlined the government’s achievements in making Canada one of the most attractive countries in the world for business and investment. Calling Canada the mining capital of the world, the Minister highlighted action to strengthen and grow the mining industry, including:

the Government’s plan for Responsible Resource Development, ensuring world-class environmental protection while providing certainty for investors;
a $100 million commitment over the next seven years for the Geo-Mapping for Energy and Minerals (GEM) Plan, helping exploration companies find deposits and create jobs;
extending the Mineral Exploration Tax Credit in Economic Action Plan 2014, which has helped junior exploration companies raise $5 billion in capital; and,
pursuing an aggressive international free trade agenda, including the conclusion of a comprehensive free trade deal with the European Union – the largest economy in the world

Minister Oliver also discussed the Government’s efforts to implement transparency and accountability through mandatory reporting standards for Canadian extractive companies. He encouraged provinces and territories to play a leadership role and enact their own equivalent legislation, but noted that if equivalent standards are not implemented the federal government will enact legislation by April 1, 2015, to move this initiative forward.

While at PDAC, Minister Oliver moderated a roundtable with Prime Minister Stephen Harper and the mining industry to discuss Responsible Resource Development and the current challenges and opportunities facing the industry. In addition, Minister Oliver hosted a roundtable discussion with junior mining companies to promote the benefits of geoscience and discuss issues facing the junior sector. He also hosted a roundtable with major and mid-tier companies.

Quick Facts

Canada is a global leader in mining. Close to 60 per cent of the world’s publicly traded mining and exploration companies are listed on Canadian stock exchanges, and over 70 per cent of the world’s equity financing for mineral exploration was raised by companies listed in Canada.
Canadian mining and mineral processing contributes $60 billion to our GDP, provides employment to about 400,000 Canadians, including over 10,000 Aboriginal people, and accounts for over 20 per cent of Canada’s exports.
Bloomberg recently ranked Canada second only to Hong Kong as the world’s most attractive country for business.
The pan-Canadian approach to mandatory reporting standards developed by the Government would require Canadian extractive companies to publicly report payments over $100,000 to all levels of government both domestically and internationally. The approach would ensure equivalency with other jurisdictions – both at home and abroad.
Reports would be posted to company websites, and the public would be notified.

Quote

“Mining creates jobs, growth, and long-term prosperity across the country. That is why our Government is such a strong supporter of this industry. Together, we will ensure that Canada remains the mining capital of the world – now and in the future.” Joe Oliver Canada’s Minister of Natural Resources

Media may contact: Melissa Lantsman Director of Communications Office of Canada’s Minister of Natural Resources 613-996-2007

Media Relations Natural Resources Canada Ottawa 613-992-4447

The general public may contact: Mon.–Fri., 8:30 a.m.–4:30 p.m. EST Telephone: 613-995-0947 TTY: 613-996-4397 (teletype for the hearing-impaired) E-mail: questions@nrcan.gc.ca

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