BC king of the hill with $15.8 billion in projected starts
The North American mining industry is roaring back to life, led by projects in Western Canada that are forecast to account for 48 per cent of projected capital expenditures.
Industrial Info Resources is tracking 70 projects totaling $37.4 billion in the West. The big change for 2012 is year is that British Columbia will likely eclipse Alberta in the value of projects that get underway. British Columbia has 30 projects totalling $15.8 billion, compared to Alberta’s 14 projects totaling $6.3 billion.
2011 was a comeback year North America project starts after a disappointing 2010. Improvements in the steel industry and strong demand for raw materials is driving the high number of mining projects. According to the North American Industrial Project Spending Index, the value of project starts increased about 58% in 2011 when compared to 2010.
When it comes to project activity 2012 should be no different than 2011. In fact it has the potential to surpass 2011, according to Industrial Info Resources, which is tracking more than 600 capital and maintenance projects totalling $78 billion scheduled to begin construction in 2012.
Mexico has 31 projects totaling $7 billion. In the U.S., the Rocky Mountain Region, which includes Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah, and Wyoming, is leading with $6.7 billion.
About the Author (Author Profile)
Markham began his journalism career writing columns in the mid-1980s for Western People Magazine, then reported for a small Saskatchewan daily. He has spent most of his career in media and communications, likes to dabble in politics, was actively involved in economic development for many years, thinks that what goes on in the community is just as important as what happens provincially and nationally, and has a soft spot for small business (big business, not so much). Markham is a bit of a contrarian and usually has a unique take on the events of the day.