Prime Minister Mark Carney is putting mining at the centre of Canada’s bid for C$1 trillion ($721 billion) in global investment as Ottawa seeks capital to build mines, processing plants and the infrastructure needed to get more of the country’s resources to market.
More than a third of the 167 projects being pitched at the first Canada Investment Summit in Toronto this week involve minerals and mining. The broader portfolio spans energy, infrastructure, manufacturing and technology as the government brings Canadian businesses face-to-face with some of the world’s largest investors.The mining-heavy pitch comes as escalating trade tensions with the US increase pressure on Canada to diversify its economic relationships and find new markets for its resources. But attracting investors is only part of the challenge: Canada must also show it can permit, finance and build major projects quickly enough to compete for global capital.
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