The Future Dynamics Of The Bc Mining Sector

800 words - 3 pages

British Columbia (BC) is a key player in the global mining industry with enormous mineral resources. BC is one of the world's main producers and exporters of many minerals and metals, such as coal, copper, molybdenum, gold, silver, lead and zinc. Currently, BC ranks third among the Canadian provinces, after Ontario and Quebec, in terms of the total value of mineral sales, excluding oil and gas.Future factors might positively impact the demand for BC mineralsOver the last few years, both the supply and demand for BC minerals have shifted. Demand, which is defined as the volume of minerals that will be purchased at various prices per tonne, has experienced a significant shift to the right. This shift can be ascribed to a variety of factors, including:- Strong mineral prices driven by the high demand in China.- Expectations that China is becoming a world economic power.- Changes in BC housing construction - people tend to buy high-rise apartment buildings which boosts BC mineral demand.- The impact of the 2010 Olympics on infrastructure development. Construction of roads, rails, trains and power facilities creates demand for copper, metal and coal.Future factors might negatively impact the demand for BC mineralsThe mining industry is subject to high sunk costs. The demand for minerals can be elastic, or perfectly elastic (horizontal). This is because the price for minerals is set within global markets; hence, demand will fluctuate within the world market.The following factors might cause the demand shift back to the left:- The rapid rise in both fuel costs and the value of Canadian dollars.- The future mineral scarcity.- The environmental impacts of mining.- The safety of miners.- The issue about how to dispose of mineral and land waste.Government options that would positively impact the supply of BC mineralsAlthough BC has abundant mineral resources, mining products cannot be produced overnight. Mining output requires significant investments in both money and time. Hence in the short run, the mineral supplies can be considered inelastic. Therefore, the supply curve will not shift and only the quantity supplied variable will move to the new equilibrium prices. It is important for the Government to promote free trade/market that will reinforce BC mineral production and supply; do not set price above or below equilibrium, for it would only see problems of surplus or shortage that will upset sellers or buyers.Another positive impact to help the supply of BC minerals is to provide available...

Find Another Essay On The Future Dynamics of the BC Mining Sector

The Dynamics of Wartime Relationships Essay

1112 words - 4 pages Taylor McKinleyAnnette OxindineENG 420003 Oct 2014The Dynamics of Wartime RelationshipsMany individuals have experienced war in their lifetime. Whether the person is a soldier in battle, a victim of an attack, or a civilian seeing it all from afar, they are each affected by war tremendously. War affects many aspect of one's life, but the way it affects the relationships that one has is very significant. In The End of the Affair by Graham Greene

Examining the Group Dynamics of a Team

1185 words - 5 pages players in upper management for approval. Roles and the Role Dynamics of the Team Role Ambiguity In a recent study by Wood (2010), role ambiguity is the term used when there is a lack of clarity on the part of an individual about the expectations of the organization and colleagues concerning his or her role within the organization. The team members at ECI used open communication during the storming stage to avoid any potential issues. Roles

The Colliding Dynamics of Class Structure

1712 words - 7 pages The rigidity of class structure is the culprit for the vast number of inequities in society. Power is concentrated in the hands of a small sector; leaving a few individuals to have more authority and influence, in comparison to others. The construction of class structure identifies the way groups are divided into social positions. Differences stemming from social position are further exemplified by the accessibility to valuable resources–such as

The Colliding Dynamics of Class Structure

1823 words - 7 pages The rigidity of class structure is the culprit for the vast number of inequities in society. Power is concentrated in the hands of a small sector; leaving a few individuals to have more authority and influence, in comparison to others. The construction of class structure identifies the way groups are divided into social positions. Differences stemming from social position are further exemplified by the accessibility to valuable resources–such as

The Underlying Dynamics of Health Care Spending

1557 words - 6 pages for this growth and offer my thoughts on the subject. The Underlying Dynamics of Health Care Spending In their working paper, The Challenge of Financing Health Care in the Current Crisis: An Analysis Based on the OECD Data, Scherer & Devaux examine the variations of the health expenditure and the GDP ratio among different countries (2010). They presume that America “stands out as being a country for which increases in the health expenditure

The dynamics of a flexible firm.

1983 words - 8 pages The flexible firm has become an integral part of world business practice and is becoming increasingly important in a firm's quest to maintain and enhance profitability in what has become an increasingly competitive market with the onset and development of globalisation - a phenomenon which has undoubtedly created what can be deemed 'the new economy'. Indeed it can certainly be argued that the 'flexible firm' is extremely evident and applicable

The Impact of Mining Waste Disposal on the Environment

1470 words - 6 pages . Thus, to ensure successful future attempts at mining disaster interventions, industries must be held accountable for the accident that occurs and have their policies reviewed with inspections on the workings of the mining sites in order to ensure that every procedure is done to minimize damage and the risk of accident. Failure to comply with result in the site will be closed down until proper procedures are implemented and monetary penalties

The Application of Aluminium in Automobile Sector

2076 words - 8 pages mankind. According to the EPA, The releasing phenomenon of perfluorocarbons during the process of smelting of aluminum and must be aware that approximate 9,200 times more harmful as compared to the negative role of carbon dioxide in globall warming. During the extraction of bauxite, the strip mining procedure will remove all native vegetation in the sector of mining area, and therefore it will be loss for local people in terms of food and snacks as

The Case of Brewing Sector in Russia

7710 words - 31 pages Russia. Changes in the regulatory environment are expected in the future which will have a great impact on the attractiveness of this sector.The Automotive industry is extremely attractive due to the growing demand and the high proportion of obsolete cars. The government is encouraging the renovation of the Russian car sector. However, EU legislation could jeopardise the future of this sector, as the EU intends to recycle cars components.The brewing

The Chocolate Sector of Côte d’Ivoire

2421 words - 10 pages leader (Losch, 2002, p. 208). By the 1980s, the cocoa sector had been received the local government’s blessing and gained a reputation for quality mass production (Losch, 2002, p. 210). This reputation was well-merited; Côte d’Ivoire has supplied almost 50 percent of internationally traded cocoa since the 1970s and continues to do so to this day (Losch, 2002, p. 206). Côte d’Ivoire’s mass production practices lead to the cocoa trade becoming a

At-Risk Students and The BC Curriculum

2486 words - 10 pages In our society, success is defined by financial wealth. Wealth is accumulated by employment in most cases, and remuneration for white collar jobs is higher than for blue collar jobs. Therefore white collar jobs are viewed as more prestigious; these are the positions that our school curriculum is preparing students for. The BC Government defines the following intellectual attributes of a graduate: • competency in reading, writing, mathematics

Similar Essays

Data Mining: The Future Of Marketing

1636 words - 7 pages Data Mining - The Future of MarketingHave you ever noticed the finger print left after you touch a glass? Did you ever look back to see the foot prints left when strolling down a sandy beach? Here is an even better question. Have you ever stopped to realize the trail you are leaving with use of today's technology? Surprisingly, everything done online leaves a trail of data. This trail and its' recently discovered importance for businesses gave

The Dynamics Of Character. Essay

1138 words - 5 pages The Dynamics of CharacterIt is a universally acknowledged truth that the key to attaining immortality is to achieve historical significance and forever be remembered in history. The past presidents of the United States have thus accomplished what Ponce de Leon could not, by taking part in events that have shaped history. However, many are not remembered for their character, but rather for their deeds. Franklin D. Roosevelt and Harry S. Truman

The Core Of Team Dynamics Essay

2883 words - 12 pages The Core of Team DynamicsDynamics are the fundamental elements of team interaction. Dynamics are defined as "An interactive system or process, especially one involving competing or conflicting forces" (, 2004). A team is a group of people who are working together to complete a task. According to Team (2001), team dynamics are "the often-unseen 'natural forces' that strongly influence how a team reacts, behaves or

The Dynamics Of Political Correctness Essay

1538 words - 6 pages Correctly Political: A Look into the Dynamics of Political Correctness      Every American probably knows what it means to be politically correct. After all, we hear about it on the news almost every night. We have to be constantly aware of whether or not something we say or do is going to offend someone. This mode of communication is present in every aspect of our lives, from the most formal to the most informal