Canada's mining, quarrying, oil and gas sectors up 1.5% in October - StatCan
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(Kitco News) - According to data released today by Statistics Canada (StatCan), the domestic mining, quarrying, and oil and gas extraction grew 1.5% in October, up for the sixth month in a row, as all three subsectors were up.
StatCan reported that Canada's oil and gas extraction subsector grew 1.5% in October, up for the fifth time in six months. Oil sands extraction was up 3.9% as strong increases in crude bitumen and synthetic crude production in Alberta led the growth.
"Robust global demand, prices for energy products and the completion of planned maintenance activities at some oil sands upgraders contributed to the increase," the authors of the report said.
On the other hand, StatCan noted that the domestic oil and gas extraction (except oil sands) contracted 1.8% as higher natural gas extraction was more than offset by lower crude petroleum extraction, particularly off of Canada's North Atlantic coast.
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Importantly, according to the report, the domestic mining subsector (excluding oil and gas extraction) rose 1.7% in October due to broad-based industry gains.
Non-metallic mineral mining and quarrying increased 4.1%, driven by strength in potash mining (+5.1%).
Metal ore mining rose 0.6% as iron ore mining (+3.6%) as well as copper, nickel, lead and zinc mining (+1.5%) were up, buoyed by increased exports; gold and silver ore mining (-4.6%) tempered some of the increase.
StatCan added that coal mining in Canada increased 1.6% in October.