How Canada's Mining Sector Impacts the Economy
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How Canada’s Mining Sector Impacts the Economy

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Canada is a mining nation.

From the Rockies to the Canadian Shield, and from the Plains and to the North, the variety of geology that exists in the country is immense – and this has created a large and unique opportunity for groundbreaking mineral discoveries.

As a result, Canada is one of the world’s largest exporters of minerals and metals, supplying approximately 60 different mineral commodities to over 100 countries.

An Intro to Canadian Mining

Today’s infographic comes to us from Canadian Minerals and Metals Plan and it highlights an industry that has given Canada a competitive advantage in the global economy.

How Canada's Mining Sector Impacts the Economy

The mineral sector brings jobs, investment, and business to Canada.

This impact stems from the whole lifecycle of mining, including exploration, extraction, primary processing, design, and manufacturing processes.

Economic Impact

Last year, the minerals sector contributed $72 billion to Canada’s GDP.

Here are the major minerals produced in Canada in 2017, along with their dollar value:

RankMineralValue (2017)Production (2017)
#1Gold$8,700,000,000164,313 kg
#2Coal$6,200,000,00059,893,000 tonnes
#3Copper$4,700,000,000584,000 tonnes
#4Potash$4,600,000,00012,214,000 tonnes
#5Iron Ore$3,800,000,00049,009,000 tonnes
#6Nickel$2,700,000,000201,000 tonnes
#7Diamonds$2,600,000,00022,724,000 karats

According to S&P Global Market Intelligence, more non-ferrous mineral exploration dollars come to Canada than to any other country. In 2017, roughly $1.1 billion – or about 14% of global exploration spending – was allocated to Canada, which edged out Australia for the top spot globally.

Mining and Communities

From mining in remote communities to the legal and financial activities in urban centers such as Vancouver or Toronto, mining touches all Canadian communities.

According to a study commissioned by the Ontario Mining Association, the economic impact of one new gold mine in Ontario can create ~4,000 jobs during construction and production, and can contribute $38 to $43 million to the economy once operating.

Further, more than 16,500 Indigenous peoples were employed in the mineral sector in 2016, accounting for 11.6% of the mining industry labor force, making it the second largest private sector employee.

Innovation Drives Canadian Mining

Canada has an established network of academic thinkers, business associations, financial capital, and government programs that support and promote new technologies that can help set a standard for mining worldwide.

Here are a few examples of innovation at work:

  1. CanmetMINING is currently researching the implementation of hydrogen power to replace the use of diesel fuel in operating underground mines. Once this technology adopted, it could reduce the GHG emission footprint of underground mines by 25% and improve the health of workers in mines by reducing their exposure to diesel exhaust.
  2. New technology is turning what was once mine waste into a potential source for minerals. In the past three decades, six billion tonnes of mine tailings have accumulated with a potential value of US$10 billion. Reprocessing this waste can produce significant recoveries of rare earth elements, gold, nickel, cobalt and other valuable minerals.
  3. Artificial intelligence and new remote-control technology can be deployed to operate mining equipment and find new discoveries.

All these innovations are going to change the nature of working in mines, while creating high-paid jobs and demand for an educated labor force.

Opportunity for Future Generations

A large number of Canadian miners are expected to retire over the next decade. In fact, Canada’s Mining Industry Human Resources Council (MiHR) forecasts 87,830 workers at a minimum will have to be hired over the next ten years.

With game-changing technologies on the horizon, there will be plenty of opportunities for a new generation of high-tech miners. The future bodes well for Canadian mining.

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Energy

The Top 10 Biggest Companies in Brazil

What drives some of the world’s emerging economies? From natural resources to giant banks, here are the top 10 biggest companies in Brazil.

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The Top 10 Biggest Companies in Brazil Oct 10 Share

The Top 10 Biggest Companies in Brazil

In 2009, the at-the-time emerging economies of Brazil, Russia, India, and China held their first formal summits as members of BRIC (with South Africa joining in 2010).

Together, BRICS represents 26.7% of the world’s land surface and 41.5% of its population. By GDP ranking, they’re also some of the most powerful economies in the world.

But what drives their economies? We’re highlighting the top 10 biggest companies in each country, starting with Brazil.

What Are the Biggest Public Companies in Brazil?

Brazil isn’t just one of the largest and most diverse countries in the world, it is also an economic powerhouse.

With over 213 million people, Brazil is the sixth most populous country on Earth and the largest in Latin America. It’s also the wealthiest on the continent, with the world’s 12th-largest economy.

Once a colony focused on sugar and gold, Brazil rapidly industrialized in the 20th century. Today, it is a top 10 exporter of industrial steel, with the country’s economic strength coming chiefly from natural resources and financials.

Here are Brazil’s biggest public companies by market capitalization in October 2021:

Top 10 Companies (October 2021)CategoryMarket Cap (USD)
ValeMetals and Mining$73.03B
Petróleo BrasileiroOil and Gas$69.84B
AmbevDrinks$43.87B
Itaú UnibancoFinancial$41.65B
Banco BradescoFinancial$34.16B
WEGIndustrial Engineering$29.43B
BTG PactualFinancial$25.01B
Banco Santander BrasilFinancial$24.70B
Rede D’Or Sao LuizHospital$23.79B
XP Inc.Financial$22.45B

At the top of the ranking is Vale, a metals and mining giant that is the world’s largest producer of iron ore and nickel. Also the operator of infrastructure including hydroelectricity plants, railroads, and ports, It consistently ranks as the most valuable company in Latin America.

Vale and second-ranking company Petróleo Brasileiro, Brazil’s largest oil producer, were former state-owned corporations that became privatized in the 1990s.

Finance in Brazil’s Top 10 Biggest Companies

Other than former monopolies, the top 10 biggest companies in Brazil highlight the power of the banking sector.

Five of the 10 companies with a market cap above $20 billion are in the financial industry.

They include Itaú Unibanco, the largest bank in the Southern Hemisphere, and Banco Santander Brasil, the Brazilian subsidiary of Spanish finance corp.

Another well-known subsidiary is brewing company Ambev, which produces the majority of the country’s liquors and also bottles and distributes PepsiCo products in much of Latin America. Ambev is an important piece of Belgian drink juggernaut Anheuser-Busch InBev, which is one of the world’s largest 100 companies.

Noticeably missing from the top 10 list are companies in the agriculture sector, as Brazil is the world’s largest exporter of coffee, soybeans, beef, and ethanol. Many multinational corporations have Brazilian subsidiaries or partners for supply chain access, which has recently put a spotlight on Amazon deforestation.

What other companies or industries do you associate with Brazil?

Correction: Two companies listed had errors in their market cap calculations and have been updated. All data is as of October 11, 2021.

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Mining

All the Metals We Mined in One Visualization

From iron ore to rare earths, over 3 billion tonnes of metals are mined each year. This chart shows them all on a relative scale.

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All the Metals We Mined in One Visualization

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

Metals are all around us, from our phones and cars to our homes and office buildings.

While we often overlook the presence of these raw materials, they are an essential part of the modern economy. But obtaining these materials can be a complex process that involves mining, refining, and then converting them into usable forms.

So, how much metal gets mined in a year?

Metals vs Ores

Before digging into the numbers, it’s important that we distinguish between ores and metals.

Ores are naturally occurring rocks that contain metals and metal compounds. Metals are the valuable parts of ores that can be extracted by separating and removing the waste rock. As a result, ore production is typically much higher than the actual metal content of the ore. For example, miners produced 347 million tonnes of bauxite ore in 2019, but the actual aluminum metal content extracted from that was only 62.9 million tonnes.

Here are all the metals and metal ores mined in 2019, according to the British Geological Survey:

Metal/OreQuantity Mined (tonnes)% of Total
Iron Ore3,040,000,00093.57%
Industrial Metals207,478,4866.39%
Technology and Precious Metals1,335,8480.04%
Total3,248,814,334100%

Miners produced roughly three billion tonnes of iron ore in 2019, representing close to 94% of all mined metals. The primary use of all this iron is to make steel. In fact, 98% of iron ore goes into steelmaking, with the rest fulfilling various other applications.

Industrial and technology metals made up the other 6% of all mined metals in 2019. How do they break down?

Industrial Metals

From construction and agriculture to manufacturing and transportation, virtually every industry harnesses the properties of metals in different ways.

Here are the industrial metals we mined in 2019.

MetalQuantity Mined (tonnes)% of Total
Aluminum62,900,00030%
Manganese Ore56,600,00027%
Chromium Ores and Concentrates38,600,00019%
Copper20,700,00010%
Zinc12,300,0006%
Titanium (Titanium Dioxide Content)6,300,0003%
Lead4,700,0002%
Nickel2,702,0001%
Zirconium Minerals (Zircon)1,337,0001%
Magnesium1,059,7361%
Strontium220,0000.11%
Uranium53,4000.03%
Bismuth3,7000.002%
Mercury2,4000.001%
Beryllium2500.0001%
Total207,478,486100%

Percentages may not add up to 100 due to rounding.

It’s no surprise that aluminum is the most-produced industrial metal. The lightweight metal is one of the most commonly used materials in the world, with uses ranging from making foils and beer kegs to buildings and aircraft parts.

Manganese and chromium rank second and third respectively in terms of metal mined, and are important ingredients in steelmaking. Manganese helps convert iron ore into steel, and chromium hardens and toughens steel. Furthermore, manganese is a critical ingredient of lithium-manganese-cobalt-oxide (NMC) batteries for electric vehicles.

Although copper production is around one-third that of aluminum, copper has a key role in making modern life possible. The red metal is found in virtually every wire, motor, and electrical appliance in our homes and offices. It’s also critical for various renewable energy technologies and electric vehicles.

Technology and Precious Metals

Technology is only as good as the materials that make it.

Technology metals can be classified as relatively rare metals commonly used in technology and devices. While miners produce some tech and precious metals in large quantities, others are relatively scarce.

MetalQuantity Mined in 2019 (tonnes)% of Total
Tin305,00023%
Molybdenum275,00021%
Rare Earth Elements220,00016%
Cobalt123,0009%
Lithium97,5007%
Tungsten91,5007%
Vanadium81,0006%
Niobium57,0004%
Cadmium27,5002%
Tantalum27,0002%
Silver26,2612%
Gold3,3500.3%
Indium8510.06%
Platinum Group Metals4570.03%
Gallium3800.03%
Rhenium490.004%
Total1,335,848100.00%

Percentages may not add up to 100 due to rounding.

Tin was the most-mined tech metal in 2019, and according to the International Tin Association, nearly half of it went into soldering.

It’s also interesting to see the prevalence of battery and energy metals. Lithium, cobalt, vanadium, and molybdenum are all critical for various energy technologies, including lithium-ion batteries, wind farms, and energy storage technologies. Additionally, miners also extracted 220,000 tonnes of rare earth elements, of which 60% came from China.

Given their rarity, it’s not surprising that gold, silver, and platinum group metals (PGMs) were the least-mined materials in this category. Collectively, these metals represent just 2.3% of the tech and precious metals mined in 2019.

A Material World

Although humans mine and use massive quantities of metals every year, it’s important to put these figures into perspective.

According to Circle Economy, the world consumes 100.6 billion tonnes of materials annually. Of this total, 3.2 billion tonnes of metals produced in 2019 would account for just 3% of our overall material consumption. In fact, the world’s annual production of cement alone is around 4.1 billion tonnes, dwarfing total metal production.

The world’s appetite for materials is growing with its population. As resource-intensive megatrends such as urbanization and electrification pick up the pace, our material pie will only get larger.

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