For Immediate Release
April 20, 2021
Budget 2021 Misses Opportunity to Accelerate British Columbia’s Economic Recovery and Advance Province’s Low-Carbon Advantage Through Responsible Mining
Vancouver, BC – Budget 2021 is missing a significant opportunity to accelerate BC’s economic recovery, create new jobs and improve the BC mining sector’s ability to provide low carbon minerals and metals the world needs to transition to a cleaner, low-carbon future, according to the Mining Association of BC (MABC).
MABC recently called upon the Province to provide additional funding for regulatory authorities to enhance their capacity to conduct more timely reviews and authorizations for a number of new mines and mine expansions that are close to making Final Investment Decisions (FIDs). Currently, regulators are occupied with the day-to-day permitting requirements of the province’s 14 operating mines.
“New mines and mine expansions offer a timely opportunity to accelerate our province’s economic recovery and create new jobs, especially for local and Indigenous communities,” said Michael Goehring, President and CEO of MABC. “However, without a modest budget lift within authorization ministries, potential permitting delays could extend a project’s FID beyond the current, favourable commodity cycle, missing the opportunity to help our economy grow and create high-paying jobs, when British Columbians need them most.”
Budget 2021 also missed the opportunity to change the carbon tax and level the playing field for BC’s mining sector and other trade exposed industries relative to other provincial and global competitors. The provincial government’s Mining Jobs Task Force in 2018 identified the carbon tax as the single greatest barrier to the BC mining sector’s ability to compete and succeed in global markets.
“BC has some of the lowest GHG emitting mines and smelters in the world. Our industry supports carbon pricing as we continue to further reduce our GHG emissions. However, under BC’s carbon pricing system, our mines and workers are at a significant disadvantage relative to our provincial and global competitors. We need to level the playing field and we urge the provincial government to adopt the federal government’s backstop and output-based pricing system,” Goehring stated.
“Budget 2021 goes a long way to support British Columbians impacted by COVID-19. However, policy makers must strengthen the competitive position of mining to create high paying jobs, revenue for health and social programs, and deliver the low-carbon minerals and metals needed to reach our Paris Agreement GHG targets,” said Goehring.
-30-
About 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 35,000 jobs and over 3,700 small, medium and indigenous affiliated businesses in every corner of the province through an annual spend of nearly $3 billion on goods and services. Our members’ products have among the lowest carbon footprints globally and are helping the world transition to a cleaner, low-carbon future; safely, responsibly, and sustainably.
For more information:
Alex McMillan
Senior Advisor, Public Affairs
amcmillan@katana.work
(604) 367-8697
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.
