Ontario salutes mining industry’s role sustaining standard of

With a salute to Ontario’s mining industry Andy Rickaby, Chairman of the Ontario Mining Association officially opened the province’s first Mining Week Oct. 16. Referring to a huge jumbo rig on display outside Commerce Court in downtown Toronto, Rickaby stressed the significance and technical advancement of mining operations in Ontario.

“I trust the sample of drilling equipment . . . provides you with a good idea of the magnitude of mining operations,” he said.

He went on to emphasize advances in environmental and safety standards at Ontario mines, where the loss-time injury rate has declined by 80% in the last 15 years.

But mining’s importance as a creator of wealth and as an investment vehicle was the main topic of his speech. The value of minerals produced in Ontario is over $7 billion annually and Toronto is recognized as the mine finance capital of the world, Rickaby told the audience.

“The mining industry was instrumental in the development of The Toronto Stock Exchange,” he said. “Today, mining stocks account for almost 20% of the TSE 300 index.”

“The products of the industry are to be seen and used everywhere in our daily lives,” Rickaby added. “The 1,851-ft.-tall CN Tower contains more than 5,000 tons of reinforcing steel, 600 tons of structural steel and five tons of copper connectors and shielding for the communications cables.”