Vancouver, BC – Sixteen proposed critical mineral mines, representing $36 billion in near-term investment, 300,000 person-years of employment and $11 billion in tax revenues, are at a key juncture, based on findings of a new independent economic impact analysis conducted for the Mining Association of British Columbia (MABC).
“The realization of benefits from these critical mineral projects is dependent on BC having competitive fiscal and regulatory policies that will attract the investment necessary to grow and sustain the sector. The provincial government’s forthcoming critical minerals strategy is fundamental to these efforts,” said Michael Goehring, President and CEO of MABC.
The study, which examined 14 potential critical mineral mines and two mine extensions, found the long-term economic impact of operating these mines over several decades could be nearly $800 billion.
Critical minerals are essential building blocks for clean technologies like solar panels, batteries and electric vehicles. According to the International Energy Agency, global demand for critical minerals is expected to increase six-fold by 2040.
“This is a generational opportunity which must be seized and could position BC as a leading global supplier of responsibly-produced critical minerals. We want to move forward with the Governments of Canada and British Columbia, First Nations, local governments, and labour, to unlock critical mineral developments for the benefit of all British Columbians,” said Goehring.
“The proposed critical mineral projects also create genuine opportunities for First Nations partnerships to advance economic reconciliation, prosperity, and self determination,” said Goehring.
The study also assessed the economic benefits resulting from advancing five proposed precious metal mines, including gold. The long-term combined impact of the proposed precious metals mines over their lifespan exceeds $29.5 billion, creating over 96,000 person-years of employment and generating $5.3 billion in tax revenue.
“With the right government policy, these critical and precious mineral projects would further advance the mining and smelting sector’s foundational role in BC’s economy which includes well-paid family-supporting jobs and opportunities for service and supply businesses in both rural and urban communities,” added Goehring.
About MABC
MABC is the voice of British Columbia’s steelmaking coal, metal, and mineral producers, smelters, and advanced development companies. Our industry benefits all British Columbians, supporting more than 35,000 jobs and over 3,700 small, medium and First Nations businesses in every corner of the province through an annual spend of $3 billion. Our members’ products have among the lowest carbon footprints globally and are helping the world transition to a cleaner, low-carbon future; safely and responsibly.
About the Study
MABC engaged Mansfield Consulting Inc. to assess the potential economic impact of proposed new critical mineral mines and extensions to existing critical mineral mines in BC. The study also evaluated the potential economic impact of proposed new precious metals mines in the province.
Mansfield Consulting Inc. provides specialized consulting services on economic and statistical issues. Mansfield Consulting Inc.’s Principal is Ed Mansfield Ph.D. who has more than 30 years of experience providing consulting services to public and private companies, professional associations, industry organizations, and government agencies.
To view the media backgrounder and economic impact study, click here.
Quotes
“Many First Nations, including the Williams Lake First Nation, know that mining can have massive economic benefits for British Columbia and for First Nations people. The potential development of critical minerals is worthy of consideration, if done right and with the input and involvement of First Nations on whose land the mineral resources are found. Economic reconciliation is about leveling the playing field, now is the opportunity to be a part of that together.”
—Chief Willie Sellers, Williams Lake First Nation
“British Columbia’s critical minerals hold great potential for our mining and smelting sector, and it is vital that government policies ensure the economic benefits and jobs are realized for the benefit of working families and communities around the province.”
—Scott Lunny, Director, United Steelworkers (USW), District 3
“When mining prospers, British Columbians prosper. We urge the government to act boldly and quickly to attract investment to our province and see critical minerals mined here. The study shows the economic benefits of such action will be significant and will create the environment businesses, British Columbians and local communities need to thrive for generations to come. BC has an opportunity to be a global leader in the clean technology space. Let’s take it.”
—Fiona Famulak, President and CEO, BC Chamber of Commerce
“Mining is a province-wide industry, whose economic impact is felt throughout Metro Vancouver and beyond. The mining of critical minerals will stand to benefit the many businesses who work with the mining sector directly and indirectly. As well, critical minerals could serve as a catalyst to spur investments in new clean technologies that are needed as we move towards net zero by 2050.”
—Bridgitte Anderson, President and CEO, Greater Vancouver Board of Trade
“At a time of growing economic uncertainty in the province, critical minerals can provide BC with a potential short and long-term economic boost and position the province to be a key player in the global critical minerals market. The province’s economic competitiveness is fundamental to that; and we hope the BC government does its part in creating a more positive investment environment.”
—Laura Jones, President and CEO, Business Council of British Columbia
“As the lead association for the mineral exploration and development industry based in BC, we see first-hand the vast potential that critical minerals have in our province. Now is the time to move forward to maximize the opportunities that critical minerals can provide,”
—Keerit Jutla, President and CEO, Association for Mineral Exploration
“This independent economic analysis clearly shows the vast potential that British Columbia has when it comes to the mining of critical minerals. The benefits that exist are potentially limitless and there are major pluses for the suppliers, contractors and businesses who serve BC’s mining industry in communities across the province.”
—Alec Morrison, President and CEO, Mining Suppliers Association of BC
For media inquiries:
Jayne Czarnocki
Director, Communications
Mining Association of British Columbia
cell: 778-957-2597
email: jczarnocki@mining.bc.ca
What makes BC such an attractive place for mining investment and development?
BC is uniquely positioned to play a leading role in providing Canada’s allies and partners with the minerals, metals, and steelmaking coal they need.
British Columbia has or produces sixteen of the fifty minerals the U.S. has identified as being vital to their national interest. Over half – are found or produced in British Columbia, including: aluminum, copper, germanium, gallium, indium, nickel, and many others.
What is the Mining Association of British Columbia?
The Mining Association of British Columbia (MABC) is the voice of British Columbia’s steelmaking coal, metal and mineral producers, smelters, and advanced development companies. Our industry benefits all British Columbians and supports more than 56,000 jobs, $27 billion in economic activity for British Columbians, and nearly 4,000 small, medium, and Indigenous affiliated businesses in every corner of our province.
Our members’ products have among the lowest carbon footprints globally and are helping Canada and our allies meet our decarbonization, technology, and national security objectives; safely and responsibly.
How does BC compare with other mining jurisdictions around the world when it comes to regulation, innovation, and investment opportunities?
British Columbia is recognized globally for its rigorous regulation and environmental and social responsibility standards.
The provincial government’s move towards accelerating permitting timelines and creating clearer regulatory pathways for mining and critical mineral projects also are helping make BC a very strong global mining jurisdiction.
BC is competitive, but we are not the only mining game in town when it comes to global investors. Jurisdictions that combine strong geology with fast, predictable permitting and innovation incentives are capturing the largest share of new investment. BC has the ingredients to lead — but must continue strengthening regulatory and permitting efficiency, infrastructure planning, and investment certainty to fully realize its potential.
BC can be a global leader in responsible, innovative, and future‑focused mining. The decisions made now will determine whether the province secures that leadership position in the decade ahead.
BC is uniquely positioned to play a central role in providing Canada’s allies and partners with the minerals and metals they need.
What economic impact does the mining industry have on British Columbia, including employment, First Nations partnerships, and local communities?
There are 31 proposed mining projects in BC mining that could deliver more than $90 billion in economic opportunity for Canada.
Mining is the biggest jobs and economic opportunity BC will see in a lifetime. Mining can secure our economic future and long-term prosperity.
Mining is already a cornerstone of British Columbia’s economy. The next generation of proposed mining projects presents major economic opportunities for BC.
MABC’s Mining and Metro Vancouver Economic Impact Study identifies 31 proposed new and extended mines across the province, including 20 critical mineral projects, seven precious metal projects, and four steelmaking coal projects.
Construction and development of these mines are expected to generate:
– $90+ billion in total economic activity
– $40+ billion in GDP
– $24 billion in pay cheques
– 286,000+ well-paying jobs
– $12 billion in government revenues
Which commodity is in most demand right now and which province has the most of it?
Right now, the commodities driving the greatest opportunities in BC are copper, gold, and critical minerals — especially molybdenum, battery metals like lithium, and rare earth elements.
BC is Canada’s leading producer of copper and steelmaking coal, second largest producer of silver, and only producer of molybdenum.
What role can BC’s mining industry play in boosting our economy?
Mining supports more than 56,000 jobs and generates billions in economic activity, while creating opportunities for thousands of small, medium, and First Nations businesses across our province.
At a time of growing economic uncertainty, mining can secure our economic future by creating jobs that strengthen communities in every region of BC.
What does BC’s mining sector offer Canada and its allies, and why is developing these resources such an important opportunity for the future?
BC’s mining sector has the critical minerals, precious metals and steelmaking coal that Canada and our allies need. Demand for these strategic resources is growing, and we are ready to deliver.
Developing our resources for new markets is a nation-building opportunity that will grow our economy, protect our sovereignty, and make BC and Canada stronger.
Why is now a great time to consider a career in BC’s mining industry?
BC’s mining industry is hiring.
In fact, with the growth of the sector, the industry needs to hire 35,000 workers over the next 10 years.
That means you can be part of a new generation of British Columbians who can take advantage of skilled, high-paying jobs in every region of the province.
