Mining Association of Canada | 2023 Report

The Mining Association of Canada | The Canadian Mining Story: Economic Impacts and Drivers for the Global Energy Transition 2023 64 SECTION 6 The World: International Market Activities and Developments Canada’s mining sector is a global leader. Its presence in more than 100 countries raises living standards and reduces poverty. Canada boasts the industry’s best exploration firms and a capital market that is home to more than half of the world’s publicly traded mining companies. Canada’s international mining leadership, powered by innovative and dynamic approaches, boosts our strong reputation for sustainable mining and responsible business conduct, and creates new opportunities to increase investment, particularly in the critical minerals space, and enhances market access for Canadian products, goods and services. EXPORTS Canada’s mining sector produces valuable goods that are used both domestically and internationally. Canada’s mineral exports make up a substantial portion of the products that we export: 22% of the total value in 2021. The value of Canada’s domestic exports of mineral and metal products, including coal, increased in the five years from 2017 through 2021 from $97 billion to $127 billion as shown in Figure 1. The bulk of the exports, 54.1% in 2021, are to the United States. The United Kingdom (9.7% in 2021) and the European Union (8.3%) are also significant export destinations. The value of Canada’s mineral and metal exports increased dramatically in 2021 due to high commodity prices.