https://www.engineeringnews.co.za

Canada's Extractive Sector Strategy well received, expected to fuel prosperity of sector

19th November 2014

By: Tracy Hancock

Creamer Media Contributing Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – The Canadian government has an important role to play in supporting both the global competitiveness of the Canadian mineral industry and its ability to contribute to the sustainable development of the societies in which it operates, said Prospectors & Developers Association of Canada (PDAC) president Rod Thomas on Tuesday.

The organisation has welcomed Canada's commitment to assist the mineral exploration and mining industry to succeed abroad, noting that measures to support the sector were included in the updated Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector that was released on November 7, as well as the Extractive Sector Strategy on Tuesday in Ottawa by Minister of International Trade Ed Fast and Minister of Natural Resources Greg Rickford.

The Ministers made the announcement at the Mining Association of Canada's annual Mining Day on the Hill luncheon.

The Extractive Sector Strategy builds on Canada's plan for responsible resource Development, ensuring that mining and energy continued to represent an engine of economic growth and prosperity for Canadians.

"Our government recognises the importance of the mining industry to Canadian jobs and long-term economic prosperity. We're working aggressively to attract investment and open new markets. Once again, we are demonstrating our commitment to creating the conditions that enhance Canada's competitive position as a global mining leader, " said Rickford.

Fast added that the Canadian government was proud of its leadership and excellence on responsible resource development and the Extractive Sector Strategy ensured the country’s “world-class extractive sector will continue to thrive".

The Extractive Sector Strategy consists of four pillars, namely, to secure access to markets for Canadian extractive-sector companies, promote Canadian companies abroad, support CSR and enhance the awareness of the importance of the extractive sector to Canadians.

Key elements of the Extractive Sector Strategy include leveraging trade and investment agreements to provide the certainty and the predictability necessary for Canadian businesses to invest and operate abroad; transforming business opportunities into business successes through economic diplomacy and on-the-ground support; advocating for improved governance and regulatory frameworks abroad and sharing best practices; and increasing training in missions abroad to support the extractive sector, complemented by embedded resources in Canada in extractive sector associations and expanding stakeholder linkages to ensure the government is responsive to the needs of the extractive sector, including developing yearly market access plans for priority markets.

In addition to Tuesday’s announcement, the Canadian government was laying the groundwork to ensure the long-term success of Canada's mining and oil and gas sectors by keeping taxes low, eliminating red tape and modernising the regulatory regime for major projects. The government was also investing in public geoscience programmes such as the Geo-Mapping for Energy and Minerals and the Targeted Geoscience Initiative to secure the long-term prosperity of mining communities and industry by ensuring informed land-use and resource investment decisions.

"PDAC supports the steps taken to promote responsible mineral development, along with the efforts that provide additional stability for our members operating abroad, such as the development of Foreign Investment Promotion and Protection Agreements with foreign countries," said Thomas.

"Canada is home to a world-class mineral exploration and mining industry," noted Thomas. "It is important for Canadians to understand the enormous contribution the industry makes in their daily lives, from employing geologists, lawyers and accountants to providing the raw materials used in our smartphones."

Canada’s CSR Strategy for the Extractive Sector was launched in 2009 and underwent a five-year review in 2013. The PDAC supported efforts to enhance the capacity of the Trade Commissioner Service to support responsible exploration and mining abroad, and highlighted that trade commissioners were valuable sources of intelligence that could help companies establish positive relationships with all project-affected stakeholders. The PDAC also strongly supported Canada's work to build up the capacity of developing countries to manage their resources responsibly.

"Many Canadian mineral exploration and mining companies are recognised as world leaders in CSR practices," Thomas pointed out, adding that the PDAC was pleased to see the Canadian government recognise the guidance the industry had developed, including PDAC's e3Plus.

He said the PDAC looked forward to continuing to work with the government of Canada to promote a responsible and competitive Canadian extractive sector.

The Mining Association of Canada (MAC) also commended the federal government on the announcement of the new Extractive Sector Strategy, which it said complemented the CSR Strategy.

"Taken together, these two strategies send a welcome signal that Canada supports and promotes a strong and vibrant Canadian mining sector both at home and abroad. The government of Canada is also setting a high bar for corporate responsibility performance, which our members embrace," noted MAC president and CEO Pierre Gratton.

He added that Prime Minister Stephen Harper's government had negotiated and concluded free trade and foreign investment protection agreements at an unprecedented rate over the past eight years, positioning Canada's globally-leading mining sector for success.  "The new strategy will add distinction to Canada's mining brand and should send a clear signal to other mining countries to take note."

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.071 0.129s - 156pq - 2rq
Subscribe Now