Minister Fast Holds Extractive-Sector Consultations in Toronto

September 30, 2013 - The Honourable Ed Fast, Minister of International Trade, today continued cross-country consultations on Canada’s extractive sector by meeting industry representatives in Toronto. The objective of the consultations is to help guide the Government of Canada as it looks at ways to continue to support the extractive sector and foster success in priority markets around the world.

“Our government is focused on the real priorities of Canadian workers and their families—jobs, growth and long-term prosperity,” said Minister Fast. “Ensuring that Canada’s extractive sector, which directly employs more than 220,000 and supports many thousands more, continues to succeed is key to Canada’s long-term economic success.  That’s why we want to hear how we can better help this vital sector succeed in global markets.”

Toronto is a world financial centre for the mining, oil and gas sectors:

  • The Toronto Stock Exchange (TSX) and its Venture Exchange (TSXV) are home to 57 percent of the world’s public mining companies.
  • Almost 70 percent of the equity capital raised globally for mining companies in 2012 was raised on the TSX and TSXV.
  • More than $280 billion of mining equity was traded in 2012.
  • A global research community of more than 500 analysts covers TSX mining companies.

Minister Fast launched cross-country consultations on September 18 in Vancouver, and the following day he held consultations in Calgary. The Honourable Christian Paradis, Minister of International Development and Minister for La Francophonie, led consultations in Montréal on September 19.

“The extractive sector is a key driver of Ontario’s economy. Hearing from extractive-sector representatives will help us determine how best to contribute to the sector’s already impressive global record,” said Minister Fast. “This will assist us in keeping Canada’s competitive edge and status as a world leader in this sector, and help create jobs and prosperity for workers and families in every region of Canada.”

Ontario is the largest producer in Canada of gold, nickel, copper, platinum-group metals, salt and structural materials. More than 60 percent of the value of Ontario mineral commodities is exported.

Canadian extractive-sector companies operate projects in the United States, South America, Africa, Europe and throughout the Asia-Pacific region.

For more information, please visit Cross-Country Extractive Sector Consultations.

- 30 -

For further information, media representatives may contact:

Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade

Media Relations Office
Foreign Affairs, Trade and Development Canada
Follow us on Twitter: @Canada_Trade