CIM 2016 Conference Shines Light on Rocky Road for Mining Industry

Researched by Industrial Info Resources (Sugar Land, Texas)--As the CIM 2016 Conference continues at the Vancouver Convention Centre in Vancouver, British Columbia, Industrial Info is tracking $276.5 billion in active projects in Canada's Metals & Minerals Industry, including $13.66 billion in projects that currently are slated to kick off construction before the end of 2016. The event, which is hosted by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), attracted 452 exhibiting companies serving the extractive industries worldwide.

Please stop by today or tomorrow and visit Industrial Info at CIM 2016 Booth #606 at the Vancouver Convention Centre. Our team will be there to demonstrate how you and your company can use PECWeb and other tools to navigate the challenging terrain of the global Metals & Minerals Industry.

Click on the image at right for a graph detailing Metals & Minerals projects in Canada that are tracked by Industrial Info, by province or territory.

The $276.5 billion in active Canadian Metals & Minerals Industry projects includes:

• $72.5 billion in crude petroleum and natural gas projects
• $43.1 billion in iron ore mining projects
• $35.4 billion in gold ore mining projects
• $25.7 billion in potash, soda and borate mining projects
• $17.5 billion in ferroalloy ore (not including vanadium) mining projects
• $16.2 billion in copper ore mining projects

"Slowing demand and low commodity prices have postponed most major mining project development in the short term as miners refocus on cost cutting and productivity enhancements, resulting in small TIV [total investment value] projects," said Joe Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry.

Indeed, nearly 86% of Canada's TIV--or $237.4 billion--is related to projects that are now in the planning stages, where plenty of factors could increase, decrease or eliminate the expected spending. The remainder are in the engineering or construction phases.

"Gold is really the only commodity bucking this trend right now," Govreau said. "The gold price has increased about 20% since the end of last year."

Among the $35.4 billion in Canadian gold ore mining projects tracked by Industrial Info, the highest-value one to begin construction is New Gold Incorporated's (NYSE:NGD) (Vancouver, British Columbia) $877 million construction of the Rainy River Gold and Silver Mine near Emo, Ontario. For details, read Industrial Info's project report.

Industrial Info also will be hosting an online market outlook on August 30 focusing on global trends in the Metals & Minerals Industry. In this Webinar, Govreau and other industry professionals from Industrial Info will discuss tumbling commodity prices; weaker demand for coal from the North American Power Industry; the outlook for the domestic steel market; and the outlook for mining projects, particularly copper, gold and potash. Click here to R.S.V.P. for the event!

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.