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Gold Mining In Canada Essay

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Gold has been a major part of the Canadian economy as early as 1896, as the discovery of the precious metal arose a large scale successful industry that has continued to be prominent today. Since its discover gold is one of the most sought-after precious metals as because of its malleability, ductility, resistance to corrosion, conductivity and most of all its shiny yellowish colour. Gold as of today is used in a variety of products including high end electrical components, jewelry, gold leafing, and tooth restoration just to name a few. Economically Gold is used by consumers, investors, companies and governments around the world. Even thought gold is no longer used as a primary form of currency in developed nations, it continues to have …show more content…

Gold mining in Canada is also a very prominent part of economy as we are the 5th largest producer of gold in the world. Our gold producing is growing over the years moving our country up in standings (Figure 4) . Canada achieved the record gold output in 2014 (160 tonnes, +29%) and jumped two positions up, from seventh to fifth place, surpassing South Africa for the first time. South Africa has been the top producer of gold in the world since 2007, but has now dropped to 6th place as China is now at the top of the rankings producing around 450 tonnes of gold a year. With this boom gold mining in Canada provides many jobs around the nation employing thousands of people it is estimated that mining in general provides 300,000 jobs nationwide and contributes around 36 billion to our GDP. With increasing unemployment over the years gold is a growing industry helping the economy as it is statistically providing more jobs each year (Excluding years around 2008 because of the recession). Gold also helps small towns across Canada grow by providing employment for locals and revenue for the town to expand. Gold mines have created and supported building of lots of new roads across Canada as they use them to get access to remote areas but also make them available to the public, as a result people can have more direct roots to destinations. Over the years gold mining has been a large part of our economy as it helps to provide a greater GDP, employs lots of workers around the nation, and helps small towns

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