Mining impact on the economy of british columbia

Impact of mining on the

economy of British Columbia

Introduction

MINING:

The process of excavation of earth, just for the purpose of the extraction of ore (which is economically beneficial) is all

about mining.

PHASES OF MINING PROJECT

The process of mining include six different phases:

ProspectingExplorationDevelopmentExploitationMaterial handlingReclamation

In material handling, the material is transported and in exploitation

the material is converted in its

pure form in different factories. At the end reclamation is done in

which mining area is converted into its real condition to make the

environment friendly.

BRITISH COLUMBIA

BRITISH COUMBIA is the state of Canada, located in the western coast of Canada. It is the third largest producer of minerals in the country after Ontario and Quebec.

Its role in enhancing the economy of Canada is of very importance.

The pricewaterhousecooper (PwC) is the firm in Canada which quantifies the contribution to the economy from mining industry. All the data collected refer from PwC.

MINING Method in BC

Surface mining:

Mechanical Excavation.

Aqueous method.

Underground mining:

Room and pillar.

Cut and fill.

Top five MINES in BC

MINES AREA (hectares) REVENUE EXTRACTION

Fording River, Elkford

20,304 $1.45 billion Met and thermal coal

Highland Valley Copper, Logan Lake

22,345 $1.01 billion Copper and molybdenum

Trend, Tumbler Ridge

17,789 $244 million Met coal

Brule mine, Chetwynd

25,582 $291 million Bituminous

Blue Hawk, Okanagan

30,082 $2 billion Copper, Zinc,Silver, Lead

ECONOMICAL IMPACT

British Columbia’s economy benefits from the direct expenditure of goods and services, employment of workers by generating new jobs, and generating tax revenue through mining industry.

Mining operators purchase goods from the suppliers that are directly related to mining industry, in all these, employees got wages from the relative industry while their owner spend on buying new goods. The all phenomena are monitored by the government and they collect taxes on all these activities.

Mining is one of BC’s most important economic sector and is major driver for country’s prosperity.

The industry contributed about $32 million to GDP and thus employed 306,000 workers.

It is an industry that stimulates and supports economic growth both in large urban centres and in remote rural communities, thus Mining is an important employer of aboriginal BRITISH COLUMBIAN.

BC is the largest producer of coal in the region.

BC is the second largest producer of copper and is the only producer of molybdenum.

Despite of that it produce metallurgical coal, thermal coal, gold, silver, zinc, lead, aluminum, and aggregates of other vast minerals.

COAL

About 56% coal is exported to Asia and 28% is exported to Europe and 8% to South America.

Due to coal a total estimation in the economy is $5654 million and increase in GDP is about $3242 million, while wages increase up to $1603 million, and due to all this there produce about 26000 jobs in the industry supporting as a big part of economy.

COPPER & MOLYBDENUM

Copper concentrate revenue rose to $1.5 billion in 2012 and its shipment rose to 787,000 tones.

The third largest production is of molybdenum its part in region is also of very importance; its revenue is estimated as $248 million

There are more than 3,200 companies that provide the industry with services ranging from engineering consulting to drilling equipment.

In addition, over half the freight revenues of Canada’s railroads are generated by mining

The total estimated economic impacts of mining expenditure is of $5.2 billion

and the total output is about $8.9 billion means there increase of $3.7 billion. While converting into its ratio, it tells that a dollar spent on mining industry

will generate a $1.73 which economically very beneficial. The estimated $4.7 billion is added to Gross Domestic

Product (GDP)

A big part of the economy is also conducted from the taxes. Direct tax

revenue is totaled of $495 million from all the levels of government with $37.3 going to municipal government, $223.2 million going to provincial government and $234.5 million in the right of fedralgovernment. While total of that is about

$938 million.

What really made all these discoveries possible?

People and expertise.

Responsible government.

Attitude of firms.

Investment.

Access.

Hoping that we are getting enough light on: ECONOMIC IMPACT OF BRITISH COLUMBIA

REFRENCES http://www.mining.com/top-10-british-

columbias-biggest-mines-87979/ http://en.wikipedia.org/wiki/List_of_mines_in_B

ritish_Columbia http://www.slideshare.net/hzharraz/atud-

gold-mine-egypt-9998734 http://www.mining-

journal.com/knowledge/Mining-101 http://www.uky.edu/KGS/coal/coal_mining.htm http://www.metso.com/corporation/info_eng.n

sf/WebWID/WTB-070522-2256F-C9820?OpenDocument

http://wiki.answers.com/Q/What_are_the_different_methods_of_mining?#slide=1