TORONTO, ONTARIO--(Marketwired - Sept. 24, 2013) - The Honourable Greg Rickford, Minister of State for Science and Technology, and FedNor, and Minister responsible for the Ring of Fire, today addressed delegates at the 45th Annual Canadian Mineral Analysts Conference. During his address, Minister Rickford highlighted the importance of mining to the Canadian economy and the Harper Government's commitment to ensure the sector's continued growth.
"Mining and resource development are important drivers of economic progress and are key to enhancing Canada's prosperity and competitiveness," said Minister Rickford. "Our Government recognizes the important role the mining sector plays in creating jobs, attracting investment and strengthening not only the economy of Northern Ontario, but also of the country, which is why we are committed to creating the conditions that will enable the industry to continue to flourish."
There are more than 200 active mines in Canada, producing more than 60 minerals and metals. Canada's mineral exports were valued at approximately $93 billion in 2012, accounting for more than one-fifth of the country's total exports.
The Ring of Fire, located approximately 500 km northeast of Thunder Bay, could become the largest mining development Northern Ontario has ever seen. The region has significant mineral deposits of nickel and copper, and especially chromite, used in the production of stainless steel. With an estimated value of up to $50 billion, the Ring of Fire could generate 5,000 jobs in Northern Ontario alone.
"Our Government remains focused on providing the right environment for economic growth, through effective cooperation across all sectors, to keep Canadians working and to ensure the long-term prosperity of all our communities," concluded Minister Rickford.