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Canada’s mining industry expanded 9% in Q1 2021 - StatCan

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(Kitco News) - Statistics Canada (StatCan) reported today that the real gross domestic product (GDP) grew 1.1% in March, following 0.4% growth in February. This 11th consecutive monthly increase continued to offset the steepest drops in Canadian economic activity on record observed in March and April 2020.

According to the report, mining and quarrying (except oil and gas) rose 2.9% in March, more than offsetting the 1.3% decline in February, as export-driven increases in metal ore mining led the growth.

StatCan said that metal ore mining rose 5.8%, as copper, nickel, lead and zinc ore mining (+6.9%), iron ore mining (+6.1%), and gold and silver ore mining (+4.7%) all recorded growth. Non-metallic mineral mining declined (-0.7%) for a third month in a row, mainly because of a fall in diamond mining. Coal mining was down for the first time in 10 months, decreasing 3.0% in March.

Support activities for mining, and oil and gas extraction grew 0.5% in March, attributable to higher rigging services, StatCan added.

Mining, quarrying, and oil and gas extraction increased 5.5% in Q1 2021, as all subsectors recorded growth. Mining and quarrying (excluding oil and gas) expanded 9.1%, as metal ore (+9.8%), non-metallic mineral (+6.4%) and coal (+11.3%) mining were all up in the first quarter.

Oil and gas extraction grew 2.4%, led by a 4.4% increase in oil sands extraction activity. Oil and gas extraction (except oil sands) edged up 0.1%, as a decline in crude petroleum extraction was more than offset by higher natural gas production.

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