Canada Sets Its Sights on Clean Mining to Bolster Mining Competitiveness

Canada’s mining competitiveness is declining. This is the message delivered by a national alliance of mineral exploration and mining associations during this year’s Mines Ministers’ conference in Cranbrook. In response, Natural Resources Canada committed funding towards clean mining efforts.

In particular, the Ministry of Natural Resources under Amarjeet Sohi said it will offer a $492,500 CAD funding support to Jetti Services Canada Inc. This startup is working on a project which will boost clean mining efforts of Canadian companies.

Under the Clean Growth Program, Canada has set aside $155 million CAD to support clean mining technologies. The primary objective of the program is cut down the adverse effects mining to the environment. This way, the mining industry will be able to create jobs and become more competitive.

Climate change adaptation

The latest effort comes just a few months after the government funded another clean mining-focused project. In May, Natural Resources Canada gave $325,000 CAD to Climate Change Risk and Adaptation Best Practices for the Mining Sector. Particularly, the project seeks to develop an environment where miners can be able to make better operational decisions in view of climate change dynamics.

Essentially, the program enables miners to adapt to climate change without going out of business.

During the Mines Ministers conference, stakeholders including Mining Association of Canada (MAC) warned that the mining industry is falling behind. The stakeholders, operating under the Canadian Mineral Industry Federation recommended that, among other things, the government should support environmental responsibility by miners.

Miners are taking up the challenge

Individual miners are at the forefront of the crusade to make the mining sector sustainable. For instance, Goldcorp, now part of Newmont Goldcorp Corp (NYSE:NEM) set up an environment stewardship project in 2017. In particular, the project focused on treating water at its mine site in Éléonore, Quebec.

At the heart of the project was the need to protect ecosystems by reducing harmful elements in the water which is discharged in the environment. The project ensured that the waste water the company produced meets and exceeds global toxicity standards.

On its part, Teck Resources, Ltd (NYSE:TECK) has been running an environment management program since mining operations began at the Cheviot Creek mining site. The program entails an aquatic monitoring program and protection of watersheds. Protection of the watersheds includes controlling the release of sediments and creating a settling pond to prevent contaminating clean water.

Barrick Gold Corporation (NYSE:GOLD) is another one of Canada’s major miners. Towards sustainability in the mining industry, the company is involved in major efforts to conserve biodiversity. In light of the devastating effects of climate change, Barrick committed to cut its GHG emissions. By 2030, the company expects its GHG emissions to reduce by 30%.

Clearly, miners understand the danger facing the mining industry if steps are not taken to address sustainability issues. With solutions like the one being pursued by Jetti Services Canada Inc., it is possible that the industry will make huge strides towards sustainability. Ultimately, the industry will achieve its goal of being globally competitive.

This article by Money News National is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Money News National has no position in the stocks mentioned. Thank you for reading.


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