Iron Ore Mining in Canada to 2020

The country ranked eighth in the world in terms of crude iron ore reserves with 6.3 billion tonnes as of January 2015. The majority of iron ore deposits are located in Newfoundland and Labrador, followed by Quebec and British Colombia. The Labrador Trough in western Labrador and north-east Quebec contains higher grade quality iron ore deposits. Canadian iron ore production was 42.7 million tonnes (Mt) in 2014 and it is projected to increase over the forecast period 2015–2020 following the expansion of mines and upcoming projects. In contrast to production, domestic iron ore consumption was an estimated 11.3Mt in 2014 and exports were 40.3Mt.

Scope

The report contains an overview of the Canadian iron ore mining industry together with the key growth factors and restraints affecting the industry. Further, it provides information about reserves, reserves by type and location, historic production and production forecast, iron ore prices, domestic consumption, exports, export by country, demand drivers, competitive landscape and major active, exploration and development projects.

Key Highlights

• The country ranked eighth in the world in terms of crude iron ore reserves with 6.3 billion tonnes as of January 2015. The majority of iron ore deposits are located in Newfoundland and Labrador, followed by Quebec and British Colombia. The Labrador Trough in western Labrador and north-east Quebec contains higher grade quality iron ore deposits.

• Iron ore deposits in the trough contain high iron content (15%–65%) and very low phosphorous and alumina levels.

• Canada has significant upcoming iron ore projects in the pipeline in Quebec, Ontario, Newfoundland and Labrador and Nunavut. Projects that are expected to start during 2017–2019, include the Duncan Lake project in 2017; the KeMag project, with a reserve volume of 1,891Mt in 2018 and the Lac Otelnuk project in 2019.

• According to the Canadian Mining Association, mining’s contribution to GDP has been in the range of 2.7–4.5% during the past 20 years, and remained in this range, at 3.5% in 2013. In 2013, the mining industry directly employed 401,315 people.

Reasons to buy

Gain an understanding of the Canadian iron ore mining industry, the relevant drivers and restraining factors, reserves, reserves by type and province, historic and forecast production, iron ore prices, consumption and trade, demand drivers, competitive landscape and major active, exploration and development projects and the country's fiscal regime.

Companies mentioned

Cliffs Natural Resources Inc.

ArcelorMittal Mines Canada Inc.

Iron Ore Company of Canada

Table of Contents

1 Executive Summary

2 Drivers and Restraints

2.1 Iron Ore Mining in Canada – Drivers

2.2 Iron Ore Mining in Canada – Restraints

3 Iron Ore Mining in Canada – Reserves, Production, Consumption and Trade

3.1 Reserves by Type and Geographical Location

3.1.1 Geology of the Labrador Trough

3.1.2 Iron ore deposits in the Labrador Trough

3.1.3 Iron ore deposits in Newfoundland

3.2 Historical and Forecast Production

3.3 Total Production by Province

3.4 Iron Ore Prices

3.5 Total Production by Major Mines

3.6 Major Exploration and Development Projects

3.7 Domestic Consumption vs Exports

3.8 Demand Drivers

3.9 Competitive Landscape

4 Fiscal Regime

4.1 The Canadian Mining Industry – Governing Bodies

4.1.1 Alberta

4.1.2 British Columbia, Ministry of Energy and Mines

4.1.3 Nova Scotia, Department of Natural Resources

4.1.4 Ontario, Ministry of Northern Development and Mines

4.1.5 Quebec, Ministère des Ressources Naturelles et de la Faune

4.1.6 Newfoundland and Labrador, Department of Natural Resources

4.1.7 New Brunswick, Department of Natural Resources and Energy (DNRE)

4.1.8 Saskatchewan, Minerals, Lands and Policy Division

4.1.9 Manitoba, Department of Innovation, Energy and Mines

4.1.10 Yukon, Department of Energy, Mines, and Resources

4.1.11 Northwest Territories

4.1.12 Northwest Territories and Nunavut Chamber of Mines

4.2 The Canadian Mining Industry – Governing Laws

4.2.1 British Columbia

4.2.2 Nova Scotia

4.2.3 Ontario

4.2.4 Newfoundland and Labrador

4.2.5 New Brunswick

4.2.6 Saskatchewan

4.2.7 Manitoba

4.2.8 Yukon

4.2.9 Northwest Territories

4.2.10 Nunavut

4.3 The Canadian Mining Industry – Key Fiscal Terms

4.3.1 Royalty

4.3.2 Annual rents

4.3.3 Corporate income tax

4.3.4 Provincial income tax

4.3.5 Branch profit tax

4.3.6 Withholding tax

4.3.7 Capital gains

4.3.8 Goods and Service Tax / Harmonized Sales Tax (HST)

4.3.9 Depreciation

4.3.10 Other provincial taxes

4.3.11 Business loss

5 Appendix

5.1 What is this Report About?

5.2 Methodology

5.3 Secondary Research

5.4 Primary Research

5.5 Contact GlobalData

5.6 About GlobalData

5.7 GlobalData’s Services

5.8 Disclaimer

List of Tables

Table 1: Iron Ore Mining in Canada – Total Production (Million Tonnes), 2000–2020

Table 2: Iron Ore Mining in Canada – Major Active Projects, 2014

Table 3: Iron Ore Mining in Canada – Major Exploration Projects, 2014

Table 4: Iron Ore Mining in Canada – Major Development Projects, 2014

Table 5: Iron Ore Mining in Canada – Consumption vs. Exports (Million Tonnes), 2000–2020

Table 6: Iron Ore Mining in Canada – Exports to Region and Destination Country (Million Tonnes), 2014

Table 7: Iron Ore Mining in Canada – Cliffs Natural Resources Inc., Major Projects, 2014

Table 8: Iron Ore Mining in Canada – ArcelorMittal Mines Canada Inc., Major Projects, 2014

Table 9: Iron Ore Mining in Canada – Iron Ore Company of Canada, Major Projects, 2014

Table 10: The Mining Industry in Canada – Alberta Coal Royalty Rates (%), 2014

Table 11: The Mining Industry in Canada – Saskatchewan Tiered Royalty (%), 2014

Table 12: The Mining Industry in Canada – British Columbia Annual Rent for Coal License (CAD/ha), 2014

Table 13: The Mining Industry in Canada – Provincial Corporate Tax Rates (%), 2014

Table 14: The Mining Industry in Canada – GST/HST Rates(%), 1997–2014

Table 15: The Mining Industry in Canada – Depreciation Rates (%), 2014

Table 16: The Mining Industry in Canada – British Columbia Mineral Land Tax Rates (CAD), 2014

Table 17: The Mining Industry in Canada – British Columbia Coal Carbon Tax (CAD), 2010–2014

List of Figures

Figure 1: Exploration and Deposit Appraisal Expenditures, On-and Off-Mine-Site (CAD), 2004–2014

Figure 2: Iron Ore Mining in Canada – Capital Investment in the Mineral Extraction Sector (CAD), 2003–2014

Figure 3: Iron Ore Mining in Canada – Location of Iron ore Deposits in Labrador

Figure 4: Iron Ore Mining in Canada – Geological map of the Labrador Trough

Figure 5: Iron Ore Mining in Canada – Location of Iron ore Deposits in Labrador

Figure 6: Iron Ore Mining in Canada – Total Production (Million Tonnes), 2000–2020

Figure 7: Iron Ore Mining in Canada – Iron Ore Prices, 2013–2020 (US$/dmt)

Figure 8: Iron Ore Mining in Canada – Consumption vs. Exports (Million Tonnes), 2000–2020

Figure 9: Iron Ore Mining in Canada – Exports to Destination Country (%), 2014

Figure 10: Iron Ore Mining in Canada – Canadian Iron Ore Exports (Million Tonnes), 2005–2013

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