Commodity Boom Sparks Revival in Atlantic Canada's Mining Industry [Atlantic Provinces Economic Council, APEC]

The mining industry in Atlantic Canada is experiencing a revival after several years of stagnant output and declining employment. Strong demand and high commodity prices have led companies to redevelop mothballed projects, expand existing operations such as the potash mine in New Brunswick, and proceed with the development of newly found resources such as the Voisey’s Bay and Duck Pond mines in Newfoundland and Labrador. As a result, the value of metallic minerals produced in the Atlantic region has almost quadrupled since 2003 to reach $4.6 billion in 2006. Additional Atlantic production has come on stream in 2007 from the Duck Pond copper/zinc mine in central Newfoundland, the Caribou lead/zinc mine near Bathurst, New Brunswick and the Scotia zinc/lead mine in Gays River, Nova Scotia. These additions and further increases in prices will push Atlantic metallic production values to over $6 billion in 2007. Employment in the high-wage mining industry has also turned around (reaching 7,600 in 2006) and provincial governments are benefiting from revenue windfalls.