Mining
Industry Snapshot | Competitive Advantages | Incentives | Resource Organizations
Industry Snapshot
Greater Vancouver is the base of operations for over 800 global mining and mineral firms, including two of the world’s largest mining companies. Most mining employment in Vancouver is connected to executive offices and mining support services such as geological research, business administration, finance, management, engineering and environmental consulting.
During the period 1997-2006, mining gross revenue in British Columbia increased almost 50 per cent to $8 billion. More than 1,000 exploration and active mining sites operate around the province; the industry employs 28,000 people and adds $7.4 billion to the economy annually. Sixty per cent of Canadian mining exploration companies are in B.C., responsible for $4.5 billion in equity capital.
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Competitive Advantages
British Columbia’s mountains are a rich source of numerous minerals that are exported to markets around the world. Vancouver has been home to a skilled mining workforce for 150 years, and has developed many innovative techniques to find mineral deposits, extract and transport ores in ways least harmful to the environment, and rehabilitate exhausted mine sites.
Vancouver’s world-class port, with close proximity to Asia and excellent rail links to mines, is a top competitive asset. Asia continues to drive global demand for natural resources, but North American markets are also important for B.C. minerals.
Strong geological modelling, financial, management, environmental and trading firms in Vancouver provide mining companies with the sophisticated services required to compete globally. The world’s leading accounting and financial service firms operate mining practices in Vancouver.
Exploration investment in B.C. increased 57 per cent in 2007 to a record high of $416 million. Since 2001, exploration investment has increased 1,300 per cent, signalling a strong future for mining in the province. British Columbia accounts for about 17 per cent of mining exploration in Canada.
Vancouver is a leader in developing new technologies to take costly guesswork out of mining exploration. Vancouver-based Gemcom Software International was recognized for outstanding mine modeling and resource planning by Mining Magazine. The firm provides 3D imaging, mine modeling, data analysis and logistics planning for 1,000 mining companies in 90 countries.
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The B.C. government offers two tax incentive programs to the mining industry:
- Refundable 20 per cent tax credit for grassroots exploration of qualified resources.
- Non-refundable 20 per cent tax credit for individuals investing in flow-through shares that finance qualifying grassroots exploration.The Canadian government provides a 15 per cent complement to the non-refundable flow-though tax credit.
Association for Mineral Exploration of B.C.
www.amebc.ca
Association representing 4,000 prospectors, engineers, entrepreneurs, exploration companies, suppliers, mineral producers and mining associations.
Association of Professional Engineers and Geoscientists of B.C.
www.apeg.bc.ca
Licensing and regulatory body for B.C.’s 23,000 engineers and geoscientists.
B.C. Environment Industry Association
www.bceia.com
Industry association comprising engineering and environmental service companies, technology companies, research organizations and environmental law firms.
B. C. Institute of Technology
www.bcit.ca
Vancouver’s polytechnic institute offers a two-year diploma in mining and contracts with mining firms to create customized courses to meet industry training needs.
B.C. Ministry of Energy, Mines and Petroleum Resources Mining and Mineral Division
www.empr.gov.bc.ca/mining
Provincial government department responsible for mining policy, regulation and services.
B.C. Geological Survey
www.empr.gov.bc.ca/Mining/Geolsurv
Office providing downloads of historical information such as maps and reports, and access to various information databases.
MapPlace
www.mapplace.ca
Interactive, database and mapping service that allows mining companies to access critical geosciences attribute data.
Mineral Titles Online
www.em.gov.bc.ca/subwebs/mtonline
British Columbia’s internet-driven database of mineral titles.
Geoscience BC
www.geosciencebc.com
Industry organization that encourages mineral and petroleum exploration investment through applied geosciences, data collection, analyses and technology applications. Projects are conducted in collaboration with industry, academia
and government.
Mining Association of B.C.
www.mining.bc.ca
Industry association representing mining producers and development firms.
Mining Suppliers, Contractors and Consultants Association of B.C.
www.mscca.com
Business association of 200 mining suppliers and service firms.
University of British Columbia
Institute of Mining Engineering
http://mining.ubc.ca
The Institute offers degrees in mining engineering, conducts mining research and works with the mining industry to develop innovative technologies and practices to reduce environmental harm.
Centre for Environmental Research in Minerals, Metals and Materials (CERM3)
www.cerm3.mining.ubc.ca
The centre consists of 25 faculty and researchers who seek to mitigate the environmental impact of mining through research in conjunction with mining companies and government agencies.
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Photo Credit: Vancouver Port Authority