Mining Association of Canada President's Speech to NWT Chambers, September 18, 2015

29 September 2015

Pierre Gratton’s Speech to the NWT Chamber of Commerce / NWT & Nunavut Chamber of Mines – September 18, 2015

It’s a pleasure to be here in Yellowknife to talk to you about what’s happening in the Canadian mining industry, and the ever-growing importance of Canada’s North as a mining region. 

Top of mind is the market – how the industry is coping through the current downturn. 

It’s easy to get swept up in doom and gloom stories. But we need to remember that the global mining sector has cycles where demand and prices drop, which is inevitably followed by a correction and strengthening. 

Even during a stubborn downturn in global demand for many minerals and metals, it’s no time to get down on mining. Because mining never goes away. Minerals and metals are the very foundation of virtually all of the goods we depend on in our daily lives. As the saying goes, if it’s not grown, it’s mined. 

So today, I want to leave you with three main points.

1. Yes, the industry is in the midst of a significant downturn. 
2. Despite it, Canada’s mining sector continues to make enormous contributions to our social and economic well-being – in the NWT and across the country. 
3. It is during a downturn that we need to focus on future opportunities, to take steps now to position the sector for success when the cycle turns again, as we know it will. 

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