Mining in Canada

Mining has been conducted on an industrial scale in present-day Canada since the late 18th century. The industry remains an important aspect of the economy of Canada to this day, particularly in the North, and Canadian-domiciled mining companies have increasingly expanded their operations globally.

History

The history of mining in Canada goes back to the 16th century. In the 1570s, Martin Frobisher briefly attempted a mining operation on Baffin Island, although it was unsuccessful.[1] In 1672, French settlers in Cape Breton Island detected coal deposits.[2] Matonabbee and Samuel Hearne sought after copper in the Hudson Bay region in the 1770s.[1]

The first truly industrial mining operation in what is now Canada was an iron mine at Forges du Saint-Maurice near Trois-Rivières in Quebec, which remained a going concern from 1738 to 1883.[1] Copper mining in Bruce Mines, Ontario—the first industrial-scale mine of a substance other than iron—followed in 1848.[2] The Canadian mining industry continued to expand nationwide through the 19th century, and became one of the world's largest by the 20th century, particularly following World War II.[1]

Mills and Sweeney note that the staples thesis, which posits that the Canadian economy has developed primarily through the exploitation of the country's abundant natural resources, remains a viable model of Canadian political economy.[3]

Economic impact

Domestic

Mining is a significant part of the economy of Canada. As of 2018, mining revenues totalled CA$47 billion.[4] Approximately 75 percent of the world's mining companies are headquartered in Canada, and 60 percent are listed on the Toronto Stock Exchange.[5][6] Toronto is a financial centre for the mining industry: as of 2016, around 80 percent of the world's equity trades in mining stocks took place in Toronto's markets.[7]

The Canadian mining industry has experienced significant volatility in recent history. The 1980s and 1990s saw a "prolonged slump" in Canadian mining, whereas the 2000s and 2010s were largely boom periods.[8]

Saskatchewan alone produces approximately 15 percent of the world's uranium.[9] The metal was first discovered in the province in the 1930s, and had become Canada's most valuable resource export by the 1950s.[9] In Northern Canada, mining—particularly hardrock mining—has long been one of the most significant sources of economic development.[8][10]

Canada taxes mining companies at a relatively low level by international standards. Alam identifies this as one way Canada has established itself an attractive place for mining companies to do business.[11]

International

International expansion of the domestic mining industry has been championed by the government of Canada, and one scholar describes Canadian mining operations as having "developed an extensive and indeed dominant global presence".[12] Canadian mining investment abroad has been particularly significant in Latin America and African countries.[13]

See also

References
  1. Sandlos, John; Keeling, Arn (March 15, 2015). "Mining". The Canadian Encyclopedia. Archived from the original on October 10, 2020. Retrieved October 22, 2020.
  2. Cranstone 2002, p. 2.
  3. Mills & Sweeney 2013, p. 10–11.
  4. "Minerals and the economy". Natural Resources Canada. December 3, 2019. Archived from the original on August 19, 2020. Retrieved October 22, 2020.
  5. Block, Niko (March 3, 2017). "Toronto's buried history: the dark story of how mining built a city". The Guardian. Archived from the original on June 22, 2020. Retrieved June 21, 2020.
  6. Lauzon 2018, pp. 146–47.
  7. Marques, José Carlos (June 2016). "Private Regulatory Fragmentation as Public Policy: Governing Canada's Mining Industry". Journal of Business Ethics. 135 (4): 617–630. doi:10.1007/s10551-014-2377-3. ISSN 0167-4544. S2CID 154747575.
  8. Keeling & Sandlos 2015, p. 2.
  9. Haalboom, Bethany (November 2016). "Pursuing openings and navigating closures for aboriginal knowledges in environmental governance of uranium mining, Saskatchewan, Canada". The Extractive Industries and Society. 3 (4): 1010–1017. doi:10.1016/j.exis.2016.09.002.
  10. Last, John (March 9, 2020). "Canada plummets as place for investment in mining industry ranking". CBC News. Archived from the original on August 12, 2020. Retrieved October 22, 2020.
  11. Alam 2011, p. 3.
  12. Butler 2015, p. 8.
  13. Lauzon 2018, p. 146.

Sources
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