The Mining Association of Canada (MAC) has welcomed the Liberal Party of Canada’s federal election victory, giving prime minister-designate Justin Trudeau another term in office.
The Liberal platform included measures to position Canada’s mining industry to maximize emerging opportunities in critical minerals and battery electric vehicles and markets.
The proposed doubling of the Mineral Exploration Tax Credit for materials on the Canadian list of critical minerals and commitments to reinforce the Mines to Mobility strategy to build “an end-to-end, sustainable battery supply chain, creating opportunities for Canadian workers from mineral extraction through to processing and manufacturing,” are generally seen as positive for the mining sector.
MAC was also encouraged by Liberal commitments to infrastructure investments, particularly in Canada’s North.
MAC data shows mining is one of Canada’s most economically significant sectors and contributes C$107 billion to the country’s total nominal gross domestic product and accounts for 19% of the value of Canadian goods exported. Canadian mining is also a significant employer, accounting for one in every 26 jobs across the country.
“The question is not whether we require minerals and metals to reach our climate goals, but rather if Canada will become the supplier the world needs,” MAC CEO Pierre Gratton said in a media release.
“Canada’s mining sector operates some of the lowest carbon-intensive mines in the world thanks to Canada’s abundance of clean energy, the adoption of world-class sustainability standards like Towards Sustainable Mining and company adoption of low emission technologies at their sites. Our industry should be the supplier of choice for the minerals and metals that are needed for low carbon technologies like solar panels, nuclear energy, wind turbines and battery electric vehicles.”
“By providing support specifically for mining electrification, clearer and more effective permitting processes and incentives for the discovery of new battery mineral and metal deposits, Canada would clearly signal to the world that it is committed to being a global mining leader,” Gratton said.
“We look forward to working with all elected officials in support of the mining sector to ensure it is well-positioned for future success.”