There is no doubt that the impending recession in the U.S.
is causing economic upheaval across Ontario which exports about
86 percent of its manufactured goods to our southern neighbour.
Over the next few years as the province copes with a high
Canadian dollar, competition from China and high energy prices,
many communities in Ontario may be faced with a declining
standard of living unless we can find sustainable solutions.
However, two recent reports confirm that the commodity
super-cycle has a long life ensuring that Sudbury - the
location of approximately half of the province's mining
production - will be an island of prosperity as the region's
mineral products, supply and service sector and mining
expertise is in great demand around the world.
The Ernst & Young Mining & Metals Team is globally
recognized as one of the leading authorities in the mineral
sector. In a recent report, they stated, "It is our view that
current metal prices are actually a return to sustainable price
levels following an extended period of artificially depressed
prices, rather than the conventional wisdom that the industry
is near the top of a cycle. Maybe this time it is different …."
The report continues, "As a result of underinvestment over the
last 20 years, the level of additional capacity that the mining
industry has planned appears to be, in many cases, simply
inadequate."
As this economic transformation progresses, the Sudbury Basin -
the richest mining district in North America and among the
top-ten most important globally - will start to play a
significantly larger role in the Ontario economy as the south's
manufacturing sector struggles to compete against China's low
wage economy. Queen's Park must start making strategic
investments in Sudbury to ensure that this trillion dollar
resource develops the local mining expertise to its fullest
capacity, including the expansion of post-secondary mining
education programs.
The recent announcement by Cambrian College to shut down the
Geological Engineering Technology program is nothing short of
astonishing considering the shortages of skilled technicians.
Eliminating full-time programs is not the route to go. Was the
industry consulted? Was this course properly promoted?
Sudbury probably has the highest concentration of
post-secondary mining programs in the country. It is a
community strength that must be expanded. We should be teaching
the world how to build hard-rock mines. The Cambrian board of
governors is heading in the wrong direction.
Stan Sudol is a Toronto-based executive speech writer and mining columnist.www.republicofmining.com
