Mining is a key driver of economic activity in Metro Vancouver and Vancouver Island, supporting over 12,300 jobs and contributing over $3.5 billion in annual economic output.
BRITISH COLUMBIA – A study released by the Mining Association of British Columbia (MABC) has identified 31 proposed mines and mine extension projects that, if approved, would prove to be of great economic benefit to the provincial economy.
Mineral, precious metal and steelmaking coal mines are in the advanced stages of development or considered likely to proceed, and each project would involve in the neighborhood of three years of construction, followed by nearly two decades of production and operation.
Mining is a key driver of economic activity in Metro Vancouver and Vancouver Island, supporting over 12,300 jobs and contributing over $3.5 billion in annual economic output. MABC engaged Mansfield Consulting Inc. to assess the economic impacts of BC’s 18 operating mines and two smelters in Metro Vancouver and on Vancouver Island based on 2024 data.
“With 22 per cent of all mining related employment located in Metro Vancouver and Vancouver Island, increasingly mining is to Vancouver what oil and gas is to Calgary,” says Michael Goehring, President and CEO of MABC. “We have a once in a lifetime opportunity to support long-term growth and prosperity, driven by the province’s critical minerals, precious metals, and steelmaking coal resources.
“At a time when the provincial economy is struggling, it is imperative the BC government build on recent progress by making accelerated mine permitting the norm for all projects and a competitive advantage to attract investment.”
The Economic Study unveiled that while most mining activity happens in Northern BC, the Interior and the Kootenays, it provides substantial economic benefits province-wide and offers strong potential for future growth as new mines are developed.
“The economic livelihood of Metro Vancouver and Vancouver Island are deeply connected to mining. The region accounts for 20 per cent of the mining sector’s total economic activity, despite not having any active operating mines,” adds Goehring.
The region is a hub for nearly 1,000 mining and exploration companies with a market cap of $449 billion.
“Mining has a small footprint with a large economic impact, making it a central pillar of British Columbia’s economy,” Goehring notes. “The benefits are broadly distributed, supporting jobs, incomes, and public revenues across the province in major urban centres and local and First Nations communities.”
The mining industry in the province supports more than 50,000 jobs and nearly 4,000 small, medium, and Indigenous affiliated businesses in every corner of the province through an annual spend of $3.7 billion on goods and services.
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