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The Industry.

Towards Sustainable Mining

Towards Sustainable Mining (TSM) is the Mining Association of Canada's (MAC) commitment to responsible mining. It is a set of tools and indicators to drive performance and ensure that key mining risks are managed responsibly at our members' facilities. Adhering to the principles of TSM, our members demonstrate leadership by:

* Engaging with communities

* Driving world-leading environmental practices

* Committing to the safety and health of employees and surrounding communities

The program was established in 2004 and its main objective is to enable mining companies to meet society's needs for minerals, metals and energy products in the most socially, economically and environmentally responsible way. The program's core strengths are:

Accountability: Participation in TSM is mandatory for all MAC members. Assessments are conducted at the facility level where the mining activity takes place-the only program in the world to do this in our sector. This provides local communities with a meaningful view of how a nearby mine is faring.

Transparency: Members commit to a set of guiding principles and report their performance against the program's 23 indicators annually in MAC's TSM Progress Reports. Each facility's results are publicly available, and are externally verified every three years.

Credibility: TSM includes ongoing consultation with a national Community of Interest (COI) Advisory Panel. This multistakeholder group helps our members and communities of interest foster dialogue, improve the industry's performance and shape the program for continual advancement.

Source: Mining Association of Canada http://mining.ca/towards-sustainable-mining

Mining Facts

Minerals and metals are the building blocks of the computers and smartphones we rely on, of the vehicles and public transit that get us places, of the buildings where we live and work, and of green technologies that help make the world a more sustainable place.

Just as we as individuals depend on mining to support our daily lives, Canada relies on the industry to keep the economy humming. Mining is one of Canada's most important economic sectors and a major job creator.

A major employer:

Approximately 380,000 people across Canada work in the mining and mineral processing industries.

Mining is the largest private sector employer of Aboriginal peoples in Canada on a proportional basis, and employment is poised to increase.

Canada has one of the largest mining supply sectors globally with more than 3,400 companies supplying engineering, geotechnical, environmental, financial and other services to mining operations.

Those who work in mining enjoy the highest wages and salaries of all industrial sectors in Canada with an average annual pay exceeding $110,000, which surpassed the average earnings of workers in forestry, manufacturing, finance and construction by a range of $31,000 to $46,000 for those sectors.

An economic engine:

* Mining contributed $54 billion to Canada's Gross Domestic Product (GDP) in 2013.

* The industry accounted for 19.6% of the value of Canadian goods exports in 2013.

* Canada's value of mineral production was nearly $43.6 billion in 2013.

The mining industry's payments to Canadian federal and provincial governments total $71 billion in taxes and royalties over the last decade (2003-2012).

A global leader:

Thanks to its rich geology, Canada is one of the largest mining nations in the world producing more than 60 minerals and metals.

Canada ranks in the top five countries in the global production of 11 major minerals and metals: First in potash

* Second in uranium and cobalt

* Third in aluminum and tungsten

* Fourth in platinum group metals, sulphur and titanium

* Fifth in nickel and diamonds

57% of the world's public mining companies are listed on the TSX and TSX-Venture Exchanges. Together, the two exchanges handled 48% of global mining equity transactions in 2013, and accounted for 46% of global mining equity capital for that year.

Globally, Canada is recognized for its leadership in safety and sustainability. Mining companies in Canada were the first in the world to develop an externally-verified performance system for sustainable mining practices with the creation of MAC's Towards Sustainable Mining initiative in 2004.

Source: Mining Association of Canada

http://mining.ca/resources/mining-facts
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Publication:Canada Mining
Geographic Code:1CANA
Date:Jul 25, 2019
Words:668
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