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Mining is a Crucial Industry for Manitoba



Mining is a Crucial Industry for Manitoba

Mining is a Crucial Industry for Manitoba

Presented by: Mining Association of Manitoba

Mining in Manitoba had humble beginnings. Settlers of the province needed non-metallic raw materials, and began to extract salt from brine springs and stone locally for building materials.

However, the mining industry has changed dramatically since those days. Communities such as Thompson, Flin Flon, Snow Lake, Lynn Lake, Leaf Rapids, Bissett, and Lac du Bonnet were built on great mining deposits.

Today the mining industry is one of the most important sources of wealth in the province, consisting of 6% of the Gross Provincial Product. $1.3 billion of minerals were produced in 2013, and the workforce is approximately 3,200 people.

In terms of size, mining is the fourth largest primary industry in the province behind agriculture, hydro, and oil production.

Mining provides some of the safest and highest paying jobs in Manitoba. In terms of safety (lost time accidents) mining has dramatically improved over the years. In fact, mining boasted fewer cases of time loss injuries compared to other industry sectors such as agriculture, transportation, construction, manufacturing, and trade.

Salaries are also very high in mining compared to other industrial sectors. For example, the average salary in mining in Manitoba is $90,000, while other sectors took home between $55,000 and $60,000 on average.

In 2014, Manitoba produced 11.8% of Canada’s nickel, 5.5% of Canada’s copper, 2.4% of Canada’s gold, 5.7% of Canada’s silver, and 23.6% of Canada’s zinc.

Yet, only 1.4% of the country’s mineral exploration expenditures are in the province.


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An Investor’s Guide to Copper in 3 Charts

Explore three key insights into the future of the copper market, from soaring demand to potential supply constraints.



An investor's guide to copper in 3 charts



The following content is sponsored by iShares

An Investor’s Guide to Copper

Copper is the world’s third-most utilized industrial metal and the linchpin of many clean energy technologies. It forms the vital connections in our electricity networks, grid storage systems, and electric vehicles.

In this graphic, sponsored by iShares, we dig into the forces that are set to shape the future of the copper landscape.

How Much Copper Do We Need?

Copper is poised to experience a remarkable 54% surge in demand from 2022 to 2050.

Here’s a breakdown of the expected demand for copper across clean energy technologies.

Technology2022 (kt)2050P (kt)
Electricity networks43648862
Other low emissions power generation93.7142.2
Solar PV756.81879.8
Grid battery storage24.6665.2
Wind453.5 1303.3
Hydrogen technologies-0.22
Electric vehicles370 3582.9
Other uses19766 22382

Copper is vital in renewable energy systems such as wind turbines, solar panels, and electric vehicle batteries because of its high electrical conductivity and durability.

It ensures the effective transmission of electricity and heat, enhancing the overall performance and sustainability of these technologies.

The rising demand for copper in the clean energy sector underscores its critical role in the transition to a greener and more sustainable future.

When Will Copper Demand Exceed Supply?

The burgeoning demand for copper has set the stage for looming supply challenges with a 22% gap predicted by 2031.

Given this metal’s pivotal role in clean energy and technological advancements, innovative mining and processing technologies could hold the key to boosting copper production and meeting the needs of a net-zero future.

Investing in Copper for a Prosperous Future

Investors looking for copper exposure may want to consider an ETF that tracks an index that offers access to companies focused on the exploration and mining of copper.

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