Mining: an essential component of the Canadian trade balance

Abstract Canada has a per capita GDP second only to Japan among the G7 countries and a positive trade balance which ranks third among the world's major economies. International trade represents a very large part of the national economy and as a proportion of GDP is larger than that of all the other G7 countries with the exception of Germany. On the negative side the Canadian current account deficit relative to the size of the economy is significantly worse than that of all major industrial countries, due mainly to the cost of servicing an immense foreign debt and to a large and worsening negative trade balance in manufacturing.
The outflow of money may be reduced by increasing the productivity and competitiveness of those sectors of the economy in which Canada already has a leading competitive position and which have the potential for further growth. The mining industry is uniquely qualified in this respect in that Canada is the western world's largest producer of metals and mineral products and has the geology and the exploration skill to replenish reserves assuming that an adequate level of investment is maintained. In 1989 the minerals industry contributed $8 billion to the country's balance of payments and with the exception of forestry is the only sector of the economy which has shown consistently increasing foreign earnings over the long term.
In recent years there has been a decline in exploration in Canada and a significant increase in countries such as Chile. The demand for hard currency to finance the development of the newly emerging capitalist economies of the CIS and Eastern Europe is also driving these countries to seek foreign investment to allow them to exploit their natural wealth more efficiently. Canada is therefore facing growing international competition for risk capital and in the future its trade surplus will probably decline in the face of lower cost foreign production.
Canada rightly exercises a high level of environmental control on its mining operations; however a significant deterrent to investment is the fundamentally unjust application of the many provincial and federal environmental laws, under which a mining company, even if it takes every measure to protect the environment, runs the risk of eternal and unlimited future liability. If this situation is not rectified the effect will be an increase in global pollution as mines in countries with more lax application of law and regulations controlling environmental damage replace those of Canada. Tax benefits and incentives are a more efficient means than arbitrary regulations in minimizing environmental damage.
Keywords: Canada trade balance, Tade balance, Environmental concerns, Mineral economics, Mineral exploration, Mining in Canada.
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Publication: CIM Bulletin
Author(s): L.D. Smith
Keywords: Mineral economics, Economic evaluations.
Issue: 983
Volume: 87
Year: 1994
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Publication: CIM Bulletin
Author(s): Wouter Bleeker, Isabelle Cadieux
Issue: 983
Volume: 87
Year: 1994
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Summary: The Cominco smeller in Trail, British Columbia, is a large integrated lead-zinc production facility. In the plant description, emphasis is given to the pyrometallurgical operations including zinc concentrate roasting, lead sinter-blast furnace processing and silver refining. Production figures for the main metal products - zinc, lead, silver and gold - are provided.
Publication: CIM Bulletin
Author(s): G.W. Toop
Keywords: Metallurgy, Pyrometallurgy, Smelters, Cominco.
Issue: 983
Volume: 87
Year: 1994
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Summary: For the assessment of any new mining project it is essential to determine a realistic value of revenue from the sale of concentrates. A description of the market factors influencing the concentrate terms will be presented along with a detailed review nf historical terms of a smelter contract for zinc concentrates.
Publication: CIM Bulletin
Author(s): H.M. Hamilton, E.M. Yates
Keywords: Mineral economics, Market forecasting, Zinc metal market, Smelter contracts.
Issue: 983
Volume: 87
Year: 1994
Text
Summary: To compete in the ever expanding global market, companies must continuously improve. Benchmarking, a tool that can help determine where the best areas for improvement are, is more than comparing measures, it is comparing how business is carried out and how decisions are made. The key to success is in integrating benchmarking results into the organization, so that those most affected by the results own them and are empowered to use them as a positive change agent. This is a necessary step to...
Publication: CIM Bulletin
Author(s): W. Almdal
Keywords: Benchmarking, Human resources, Management.
Issue: 983
Volume: 87
Year: 1994
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Summary: The nature and distribution of the inorganic components and the concentration of certain environmentally sensitive elements, such as, As, Sb, B, Hr, Cd, CI, F, Mo, Pb, S, and Se, or elements detrimental to the utilization by industry such as B, Na, P and S are very important in determining coal quality. The concentration of elements in coal is controlled by the following factors: (1) frequency of occurrence of partings; (2) nature and habit of occurrence of minerals in coal; (3) environment...
Publication: CIM Bulletin
Author(s): F. Goodarzi
Keywords: Coal mining, Environmental control.
Issue: 983
Volume: 87
Year: 1994
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Summary: Blast fragmentation is affected by the physical and mechanical characteristics of the rockmass as determined by geology as well as the explosive energy, the partition of this energy, the actual amount of energy transmitted to the rockmass, the blast geometry and the detonation sequence. This paper reviews studies of the influence of geology on blast fragmentation, particularly structure, i.e. the in situ or inherent fragmentation arising from rock discontinuities. Prior structural studies...
Publication: CIM Bulletin
Author(s): Yves C. Lizotte, Malcolm J. Scobie
Keywords: Blast fragmentation, Fragmentation, Geological controls.
Issue: 983
Volume: 87
Year: 1994
Text
Summary: With some justification, people have long complained about the indefinition of ore reserves. Perhaps they were led to expect too much; from former and easier definition practices in the once common underground mines with exposed and available assets, where the obsolete term 'ore in sight' was at least partly literal. But such mines have become rarer, and their underground development less affordable. For most projects, valuations and its definitions have thus been advanced from actual to...
Publication: CIM Bulletin
Author(s): Hugh K. Taylor
Keywords: Ore reserves, Mining economics, Estimation, Ore reserve definition.
Issue: 983
Volume: 87
Year: 1994
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