Buoyed by Canada and Mexico North American Project Spending Index Up 44% for Metals & Minerals Industry

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Researched by Industrial Info Resources (Sugar Land, Texas)--According to Industrial Info's April 2012 update to the North American Industrial Project Spending Index the Metals & Minerals Industry is experiencing 44% growth in the total investment value (TIV) of projects starting construction in 2012 when compared to 2011. In 2012, more than $63 billion worth of projects have started, or are scheduled to begin, construction in 2012 compared to $44 billion in 2011. Both Canada and Mexico are showing significant growth in activity this year with $40 billion and $3.8 billion respectively, while the value of Metals & Minerals Industry project construction starts in the U.S. has declined by 11% to $19 billion.

Accounting for more than half of the project activity this year is Western Canada where a number of mega-projects are underway this year in Alberta, British Columbia and Saskatchewan. In Saskatchewan, for example, BHP Billiton Canada Incorporated is scheduled to begin construction late this year on a $5 billion Jansen underground potash mine. Canadian firms Stantec (Saskatoon, Saskatchewan) and DMC Mining Services (Richmond Hill, Ontario) are currently constructing a $400 million preliminary underground shaft.

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