Canadians have long prospered on the backs of those who dug for buried treasure in this country. But with southern metal deposits increasingly hard to find, the treasure is up north these days, and increasingly difficult and pricey to get to.
According to a new industry study, the cost to explore and build new mines is as much as 2.5 times higher in Canada’s far North than in the south, due to a lack of access, power lines, and just about everything you need to extract and ship tonnes of ore.
“There are no roads, so you have to build roads,” says Pierre Gratton, CEO of the Mining Association of Canada, which produced the study along with the Prospectors & Developers Association of Canada, the Association of Consulting Engineering Companies, the NWT & Nunavut Chamber of Mines, and the Yukon Chamber of Mines.
“Depending on the nature of your commodity, you may need shipping. So base metals and precious metals, you often need some kind of port infrastructure. So you have to put that in.Read More »from Canada’s ‘rocks and trees’ economy faces high northern price tag: study