Once-Mighty Canadian Mining Losing Ground to Global Competitors
- Mega-mergers shifting jobs and historic dominance from Canada
- Capital investment in mining fallen for five straight years
Photographer: Valerian Mazataud/Bloomberg
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Canada is in danger of losing its global dominance in mining, despite recent government initiatives to improve competitiveness, according to a report from an industry association.
The report, by the Mining Association of Canada, comes as debate about the hollowing out of the country’s mining sector grows. Mega-mergers by Canada’s two largest gold companies, Barrick Gold Corp. and Goldcorp Inc., stand to erode its global influence.