Leveraging Canada’s mining moment can make this country strong

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Amid geopolitical shifts and trade uncertainty, mining remains a vital driver of Canada’s economic advantage. Its impact goes far beyond ounces, exports and contribution to gross domestic product; it builds communities, develops infrastructure and opens doors to new opportunities.

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As a premier globally competitive sector, Canadian mining secures international investment, strengthens trade diversification and delivers lasting nationwide benefits. From partner-sharing with Indigenous and local businesses to creating high-skilled jobs, mining unlocks economic prosperity in Northern and remote regions, anchoring community prosperity for generations.

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Attracting investment is merely the first step. To transform opportunity into tangible results, governments must cultivate an environment where projects can advance with regulatory certainty. This requires accelerated, predictable decision-making, expanded workforce and community capacity, as well as strategic infrastructure corridors designed to unlock regional growth.

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It has been estimated that the average permitting of a mine in Canada from discovery to operation is almost 20 years. As the Western world seeks to expand access to critical and strategic minerals, governments of all stripes are trying to speed up the permitting process.

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Recent proposals by the federal government to transfer specific decision-making authorities from cabinet to the responsible minister and to create a consultation hub for permits across multiple departments have the potential to reduce timelines.

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By securing these core fundamentals, the mining sector can transcend resource extraction to build a more resilient and prosperous nation.

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Infrastructure limitations remain a primary barrier to transforming discovered deposits into operational mines, particularly north of the 60th parallel. Building a mine in northern regions costs up to 2.5 times more than in southern locales, with roughly 70 per cent of this cost premium directly tied to deficient infrastructure, according to research by the Mining Association of Canada.

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To bridge this gap, future projects should prioritize multi-use infrastructure delivered through public-private partnerships, leveraging early stage government risk-sharing to crowd in private capital. Crucially, these frameworks must embed Indigenous partnerships, revenue-sharing models, specialized training and localized hiring commitments from the outset.

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These priorities are not new. The barriers are well understood, the solutions are largely known and years of consultations have produced no shortage of recommendations. The time for analysis is largely behind us, and our sector is hopeful that this federal government is hearing us.

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The question is no longer whether Canada has the resources, talent or investment potential to succeed. The question is whether governments and industry alike can move with the urgency and determination needed to turn those strengths into the milestone projects that build stronger communities and long-term prosperity for every province, territory and corner of our country.

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Interest from investors exists. Capital is available. The opportunity is clear. The imperative now is to deliver.

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The moment is ours to seize.

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Sean Boyd, chair, and Ammar Al-Joundi, chief executive, Agnico Eagle Mines Ltd. 

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