Canadian mining to continue growth momentum in 2021 – EY
Canadian mining companies have finished 2020 strongly, as gold prices remain positive, base metals received support by Chinese demand and copper prices leapt to a seven-year high on anticipated government stimulus packages.
The EY Canadian Mining Eye index ended the year with continued growth, up 9% in the fourth quarter, following a 10% increase in the prior quarter.
EY Canada mining and metals coleader Jeff Swinoga says that with an economic recovery on the horizon, the industry will likely sustain its growth momentum in 2021.
“We’re already starting to see how expected government stimulus packages, such as China’s new five-year plan for greener production, Europe’s Green Deal and the planned package from the US, are driving sustainable infrastructure development and, in turn, greater demand for base metals like copper,” he says in a statement.
Metals, like nickel and cobalt, are also benefiting from green-led initiatives as the production of electric vehicles accelerate.
Precious metals demand should also remain strong, as inflation pressures are rising, EY Mining Canada mining and meals strategy and transaction leader Jay Patel adds.
"We're hearing from economists around the world that US inflation is expected to rise in the coming months on the back of global economic recovery, supported by various governments' fiscal and monetary stimulus initiatives.”
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation