Grassroots Project Construction Pushes Planned North American Mining Sector Spending Up To $72 Billion

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Researched by Industrial Info Resources (Sugar Land, Texas)--Strong metals, energy and raw material prices are leading to a record number of mining projects in North America. Industrial Info is tracking 224 major mining projects in North America totaling more than $74 billion. The majority of these projects, about 59% of the total value, involves grassroots mine construction. The 117 grassroots mine projects represent about $44 billion in total investment value (TIV).

Rich undeveloped metals and energy reserves place Canada as a world leader in mine development. Mining companies are looking at 80 projects totaling $56 billion in Canada, far outpacing mining development from its North American brethren to the south, the U.S. and Mexico. The U.S. hosts 130 projects totaling almost $14 billion, followed by Mexico with $1.7 billion.

Click on the image at right to view a chart showing the breakdown of North American mining projects by market region.

Seventy percent of North American mining projects (measured by project value) is in Western Canada, especially in Alberta, where several mega-billion dollar oil-sands mines are under development. There are 54 mining projects representing $52 billion in TIV planned in Western Canada, which includes Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Saskatchewan and the Yukon territories. By comparison, the rest of Canada accounts for only $4 billion in planned mining projects.

Looking at vertical markets, oil-sands mines make up the majority of the future mine-project spending with 20 projects totaling $43.7 billion. Metals-mining projects represent 33% of the future activity with 128 projects totaling $24.3 billion. The two largest metals sectors are copper mining with 32 projects totaling $10.6 billion and gold mining with 38 projects totaling $3.75. Coal mining projects account for 7% of future mining project development with 53 projects totaling $5.1. Minerals mining, including sectors like potash and phosphate ore mining, account for 8% with 42 projects totaling $5.8 billion.

For a complete listing of the projects mentioned in this article including projects contacts, addresses, phone numbers, projects scope and schedule contact Industrial Info’s Member Center at 1-800-762-3361.

Industrial Info Resources (IIR) provides marketing communication services ranging from industrial database solutions to market forecasting, custom analytics, and specialty promotions that support high-level image campaigns.