The Mining Industry in British Columbia

 

 

The mining industry in British Columbia 2016

Our 49th annual report outlines the financial results of BC’s mining industry in 2016. It also highlights some of the challenges and opportunities for the sector, which is a key contributor to the BC economy as well as to Canada’s GDP.

Download the report (PDF, 1.5MB)


BC is Canada’s largest exporter of metallurgical coal (used in steelmaking) and one of its largest copper producers. BC also produces significant amounts of gold, silver, lead, and zinc, and more than 30 industrial minerals including gypsum and limestone. 2016 was another challenging year for the industry due to the continued volatility in global metal and mineral prices. That said, the picture began to brighten towards the end of 2016. The price of some global commodities, in particular coal and copper, started to pick up again towards the end of year and held their ground into the first part of 2017. The stability of prices and a more optimistic industry outlook have led to increased investment in the sector.
 

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Rudi Fronk, Chairman and CEO of Seabridge Gold Inc., discusses Seabridge Gold and the Kerr-Sulphurets-Mitchell project in the BC mining industry.
 
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Karina Briño, President and CEO of the Mining Association of British Columbia, discusses the BC mining industry outlook.
 


 

At a glance:
BC's mining industry in 2016
 

Cash flow

Cash flow from operations, another key measure of the industry's health, was $2.6 billion in 2016, up over $900 million from $1.7 billion in 2015.

Gross mining revenue

Gross mining revenues rose to $8.7 billion in 2016 from $7.7 billion, driven by higher revenue at Teck’s BC coal mines as well as Imperial Metals’ Red Chris and Mount Polley operations.

Net income

Net income before taxes rose to $1.4 billion compared to $715 million in 2015 and $288 million in 2014.

Labour overview

The number of people working in direct jobs in BC at the surveyed operations increased to 9,329 in 2016, compared to 9,221 in 2015 and 9,954 in 2014.

Net revenue by product

Average prices for many of BC’s key commodities increased in 2016 compared to a year earlier, with a couple of exceptions.

Market prices

Metal prices

Average prices for many of BC’s key commodities increased in 2016 compared to a year earlier, with a couple of exceptions.

Annual revenue

Gross mining revenue from survey participants was reported as $8.7 billion compared to $7.7 billion in 2015 and $8.2 billion İn 2014.

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