Mining Boosts Ontario's Economy

With annual mineral production topping $5.5 billion a year, mining is a pillar of Ontario's economy creating 90,000 jobs, $1.8 billion in exports, more than $300 million in government revenue and a better standard of living for all Ontarians. More than 23,500 Ontarians work in mines, mills, smelters and refineries; 65,000 more work in the production of metals such as steel and non-metallic mineral products such as cement. Ontario mines also spend $1.1 billion a year on goods and services contributing to profitability and job creation at many other Ontario companies. Our mining companies are among Canada's strongest exporters.

Nearly 40 per cent ($1.7 billion) of Ontario's metallic ores and concentrates go to global markets; non-metallic mines have international exports of $172 million. Together, our mining exports bring $1.8 billion into our Ontario economy. A typical base metal mine pumps $50 million a year into the economy of Ontario. Mines with exceptional ore bodies such as Falconbridge Limited 's Kidd Creek Mine in Timmins contribute more than $500 million a year to the provincial economy.

Toronto is the international financial centre for the mining industry - home to 400 mining and exploration companies and 260 mining-related companies such as analytical laboratories, research facilities, and international consulting firms in geological surveying/analysis, engineering and environmental protection. With more than 300 mining companies listed, the Toronto Stock Exchange outranks all other world exchanges in raising capital for the mining sector.