Mining Is Beneficial of Canada

Topics: Rio Tinto Group, Mining, Diamond Pages: 3 (1071 words) Published: April 27, 2013
When people consider the roll of mining in Canada, they only think about the impact it has on the environment or perhaps panning for gold in the Yukon over a hundred years ago. Few realize how essential mining is to modern day Canadian and international society. Though mining might negatively affect Canada’s environment, the pros of mining exceed the cons. Mining is one of the top economic sectors that will help Canada develop and become financially secure. Canada is a world leading country with many domestic mines and international companies that process essential minerals. Canada truly is a nation of mining.

Firstly, mining gives an international world leading reputation for excellence in mining for Canada. Canada has many large companies that have big operations through out the world. For example there is Barrick Gold Corp. based in Toronto, which is the largest gold producer in the world. They have 27 operating mines across the globe and they are engaged in many explorations and development projects (“STAY CONNECTED”). In just 2011 they have produced 7.7 million ounces of gold and with the price of gold at $460 per ounce they have made $3.52 billion dollars just from gold. Barrick Gold Corp (“STAY CONNECTED”). Have projects in Papa New Guinea, US, Canada, Dominican Republic, Australia, Peru, Chile, Russia, South Africa, Pakistan, Colombia, Argentina and Tanzania, which are all countries known for their rich minerals (“STAY CONNECTED”). Canada also has a Vancouver based company called Turquoise Hills their main development is in the southern part of Mongolia and it is called Oyu Tolgoi mine (Oyu-Tolgoi (copper-gold), Mongolia). In August 8th they decided to change their name to Turquoise Hills Resources from Ivanhoe Mines because of a financial agreement they made with the mining giant Rio Tinto (“Ivanhoe Mines Change Name to Turquoise Hills Resources”). Many people predict that Oyu Tolgoi will be the next mining boom (“Boom in Mongolia”). Canada’s assets...
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