Business Report: Mining Industry in Bc

In: Business and Management

Submitted By lamadrid
Words 1767
Pages 8
Introduction

The exploration and utilization of resources has played a significant role in the development of Canada. Most socio-economic achievements in Canada’s history have been closely related to natural resources. While activities such as fishing and agriculture have traditionally paved the way, perhaps none has contributed to Canada’s economic prosperity like the mining industry. As the sector continues to grow, so does Canada’s reputation as one of the world’s leading mining nations. Canada is one of the world’s top producers of major commodities such as uranium, nickel, cobalt, and more. With a pullback in performance over the past years, I expect the industry to rebound, as economic growth in China and the United States will increase resource demand.

Despite the positive outlook, this is still a highly controversial industry. Many key drawbacks such as pollution, low employment, and high level of risk have made the mining world a highly criticized industry. The sector plays a crucial role in the economic, social and environmental stability of the country, making it a focal point for the government. Both industry participants and the government must work together to improve and stabilize the mining industry for British Columbia.

This report is divided into 3 sections:

• Section I outlines the history of the industry, leading up to the present.
• Section II, which will provide an overview of the current state of British Columbia’s mining industry, includes the industry’s size, major players, and contribution to the economy.
• Section III presents disadvantages of the sector, as well as efforts of restoration.

Section 1: History

Ranging back to the mid 19th century, British Columbia has been one of the most recognized mining regions around the world. In the 1950’s, gold was discovered along the Fraser River on Canada’s Western…...

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