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Industry Lens: Non-Energy Mining—August 2021 The Conference Board of Canada, August 4, 2021 Website by Richard Forbes

Industry Lens: Non-Energy Mining—August 2021

The Conference Board of Canada, August 4, 2021
Website by Richard Forbes

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This report examines the short-and medium-term economic and profitability outlook for Canada’s non-energy mining industry. Document Highlights Real GDP in the non-energy mining sector fell 1.8 per cent in 2020 but a 12.2 per cent expansion is in the cards for 2021. Fiscal stimulus plans and supply shortages around the globe have pushed many mineral prices to record highs. This will keep the Canadian mining sector busy over the short term. After stabilizing next year, the sector will continue to perform well, due to a bright global outlook for several minerals that are mined in Canada. Labour shortages in the industry will remain a sore spot, putting upward pressure on wages and encouraging investment in automation.

This report examines the short-and medium-term economic and profitability outlook for Canada’s non-energy mining industry.

Document Highlights

Real GDP in the non-energy mining sector fell 1.8 per cent in 2020 but a 12.2 per cent expansion is in the cards for 2021.
Fiscal stimulus plans and supply shortages around the globe have pushed many mineral prices to record highs. This will keep the Canadian mining sector busy over the short term.
After stabilizing next year, the sector will continue to perform well, due to a bright global outlook for several minerals that are mined in Canada.
Labour shortages in the industry will remain a sore spot, putting upward pressure on wages and encouraging investment in automation.

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