Michael Goehring, MABC President and CEO
BRITISH COLUMBIA – British Columbia’s mining and smelting sector contributed $3.7 billion to 200 local and First Nations communities by purchasing goods and services from nearly 4,000 BC-based businesses in 2022, according to a new report released today by the Mining Association of British Columbia (MABC) and the Mining Suppliers Association of BC (MSABC).
“Mining plays a pivotal role in BC’s economy. Mines and smelters provide thousands of well-paying family-supporting jobs and they sustain a large supply chain of nearly 4,000 small and medium sized businesses in urban centres, small towns and an increasing number of First Nations communities,” said Michael Goehring, MABC President and CEO.
The “One Province, One Economy” report, prepared by iTOTEM Analytics, assesses the scope of BC’s mining supply chain and quantifies the dollar value of materials, goods and services purchased by the province’s 17 metal and steelmaking coal mines, two mine development projects, and two smelters.
Kamloops, Prince George and Sparwood were the top recipients of mining supply chain spend among rural BC communities, with purchases totalling $377 million, $237 million and $188 million, respectively. Yet the report clearly shows BC’s urban centres benefit from mining, with the sector purchasing $1.4 billion worth of goods and services from 1,125 mine suppliers located across 18 Metro Vancouver communities in 2022. Vancouver-based companies were the top recipients of mining sector supply chain spend, with local purchases totalling $532 million.
“British Columbia is a world-leading mining jurisdiction, creating good-paying jobs and opportunities for workers, communities and First Nations across the province. And we have the critical minerals that the world needs to fight climate change and build a clean economy. Working together, we have a generational opportunity to attract investment throughout the supply chain and drive sustainable growth”, said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation.
The report also assesses the benefits First Nations are deriving from BC’s mining and smelting industry. In 2022, 150 First Nations or affiliated businesses provided goods and services valued at close to $520 million to BC’s mines and smelters, accounting for 14 per cent of the BC supply chain spend. Services provided ranged from consulting and technical expertise to IT services, health, and safety training, among others.
“BC’s mining sector is helping advance economic reconciliation with First Nations through partnerships, benefit agreements, employment, and actively procuring goods and services from First Nations businesses,” said Goehring.
BC currently has 16 critical mineral projects in advanced stages of development that represent $36 billion in new investment, along with five new precious metal mines representing nearly $2 billion in new investment for the province.
“New mines are valuable catalysts of economic development, providing new demand for goods and services and significant opportunities to grow and support the thousands of small, medium and First Nations businesses in the mining supply chain,” said Goehring. “However, if we want to unlock these opportunities, we need government policies that encourage mining investment in our province.”
“Finning was founded in British Columbia in 1933 and over the past 91 years we have grown to be the world’s largest CAT heavy equipment sales and service dealer. This growth was fueled by British Columbia’s vast construction and natural resource sectors. Mining continues to be a large and growing part of our business in the province today. Our Prince George and Kamloops facilities, which employ 650 people, proudly support more than 15 mine sites, and we have the capacity to take on more,” said Cheryl Gray, senior vice president of mining at Finning Canada. “Having specialized facilities covering northern and central BC for fast, reliable, and complex repairs and rebuilds is crucial to maximizing machine uptime for our customers.”
Link to One Province, One Economy 2022 report on the MABC website.
QUICK FACTS:
- In 2022, BC’s mines and smelters purchased $3.7 billion in goods and services from nearly 4,000 BC-based businesses in 200 urban, rural and First Nations communities across BC.
- The sector purchased $1.4 billion worth of goods and services from 1,125 mine suppliers located in Metro Vancouver.
- The top five urban communities by mining supply chain spend, include: Vancouver ($532 M), North Vancouver ($338 M), Burnaby ($218 M), Delta ($126 M), and Surrey ($72M).
- The top five regional centres in rural BC by mining supply chain spend, include: Kamloops ($377 M), Prince George ($237 M), Sparwood ($188 M), Elkford ($168 M), and Chetwynd ($101 M).
- 150 First Nations or affiliated businesses provided $520 million worth of goods and services to BC’s mines and smelters, accounting for 14 per cent of the BC supply chain spend.
- At 25, Kamloops had the highest number of Indigenous-affiliated vendors engaged by the mining and smelting sector in 2022.
- BC’s mining sector provided $5.7 million in community investments to approximately 260 community and First Nations organizations in 2022.
Source: GlobeNewswire
