Trade knowledge / Canadian Mining Industry Promotes Foreign Markets
Date: 2016-10-10
Canadian Mining Industry Promotes Foreign Markets
In efforts to dominating the global mining industry, Canada has made tremendous attempts to promote mining overseas. With increased international mining initiatives, many Canadian corporations have been fueling their resources to expand globally. According to the Huffington Post, “Ontario-based Carube Copper said it acquired ‘over 500 square kilometers of the most prospective ground in Jamaica based on historic showings.’”
In addition to facilitating work in Jamaica, Canadian aid has been expanding the mining industry to Africa. Canada has funded mining research in Angola, Cameroon, Tanzania, Niger, Kenya, Uganda and other places in Africa. The Canadian International Development Agency (CIDA) has been promoting projects to strengthen mining and education in mining in different countries. These programs are projected to promote the Canadian links and mining industry overseas by developing stronger international relations.
Canada’s economy advanced by 0.5% in July, led by a 3.9% increase in the overall mining, oil and gas extraction sector. With the advancements in global mining and Canadian aid, many firms are granted the opportunity to enter foreign markets causing more job availability and a growth in the economy. Due to the fact that mining education and geological data collection only indirectly benefit Canadian mining companies, the main focus is on improving corporate social responsibility projects which directly impact mining,
CIDA project proposals developed unique strategies and a new code to regulate corporate international mining projects. To improve conditions abroad, CIDA code promoted more flexible environmental regulations, diminished labor guarantees, and recycling of cut down trees to export for tinder. Canadian aid has not only helped shape legislation for mining industries and improved efficiency and education in other countries to boost Canada’s international relations, but it has also helped Canadian companies dominate global mining initiatives.
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