How Big is the Market for Mining Supply and services?
Estimates based on the world market According to the Natural Resources Canada Study, mining operations in Canada and around the world consume over US$250 billion worth of specialized products each year. Operating mines are the largest market, purchasing over $200 billion, and mine development consumes over $50 billion each year. In a bad year, the goods and services required for exploration consume over $3 billion exploration. These estimates include production of oil and gas. In 1996, Canada ranked sixth in the world in terms of the value of its domestic mineral production. If Canada supplied 3% of the world market for specialized mining products (less than its production share) Canada would be exporting US$7.5 billion dollars. This level of exports seems to be a minimum goal for Canada, given its historic strength in mining and its status as a developed nation with a highly skilled workforce. These figures provide the basis for a quick estimate of the appropriate scale of the Canadia
