This report examines the short-and medium-term economic and profitability outlook for Canada’s non-energy mining industry.
Industry Lens: Non-Energy Mining—August 2021
Industry Lens: Non-Energy Mining—August 2021
Industry Economic Analysis
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- 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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