The mining industry in North Canada profits from having a bounty of natural resources and huge room for economic growth. The mining and energy industries amount to around a quarter of the GDP of Northern Canada, and are responsible for approximately 5,000 jobs.
The number of mines in operation in North Canada is currently on the increase, as is exploration activities. There is over $20 billion in potential investments in the mining industry, and more than 25 separate projects involving mining in Canada's Arctic region. The development of all the projects currently in the pipeline is expected to create thousands of new jobs in the region, as well as many more jobs indirectly, such as in the manufacturing, transportation and services sectors.
A number of new programs have been set up by the Canadian government in order to lay the foundations for economic development in the Northern region. Initiatives such as the $100 million 'Geo-mapping for Energy and Materials' (GEM) program is being set up to give the population of Northern Canada crucial geoscience knowledge that will enable them to make informed decisions about their future economy and society.
The GEM program will also give a better understanding of the resource potential in Northern Canada, which will eventually lead to investment by the private sector in the mining and exploration industries. The economic development of Northern Canada is expected to result in greater prosperity for the population of the region by providing improvements in living conditions, health, safety and employment.
Canada's government has recognised that the Northern region has a lot to offer the country as a whole, and the discovery and exploration of new minerals in the region is expected to aid both the mining industry and the populace of Northern Canada with increased economic development.
For more information on the Northern Canada mining market, see the latest market research: Northern Canada mining market
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