Mining Industry Contributed C$18 Billion to BC Economy

SEATTLE (Scrap Monster): The BC mining industry contributed nearly C$18 billion in economic activity to the province’s economy during 2022, said the latest report prepared by iTOTEM analysis on behalf of the Mining Association of British Columbia (MABC). The contribution surged higher by almost 40% when compared with 2021.

The activity comprised of C$3.7 billion from purchase of materials, goods and services from businesses by the mines and smelters in the province. The supply chain of these mines and smelters includes around 4,000 small and medium-sized businesses. The mines and smelters also provide thousands of well-paying jobs in the region, noted Michael Goehring, President and CEO, MABC.

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According to the report, the largest contributor was Metro Vancouver, with 1,125 mine suppliers in 18 communities receiving C$1.4 billion.

The province’s mining sector supported 200 urban, rural, and First Nations communities. The purchases by rural municipalities of Kamloops, Prince George, and Sparwood totalled C$377 million, C$237 million, and C$188 million, respectively.

The B.C. mining sector distributed C$5.7 million to about 260 community and First Nations organizations, as part of community investments during the year.

Nearly 16 critical mineral projects are in advanced stages of development. These projects, coupled with five new precious metal mines, promises additional investment of approximately C$2 billion.