Commodities boom drives economic growth in several Canadian provinces

A Conference Board of Canada report says high energy and metals prices “are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments” in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces.

The board’s Provincial Outlook – Spring 2011 report issued Wednesday also forecasts that Saskatchewan “will benefit from tax breaks and a hot mining industry.”