Canada's national mining industry group is hailing the historic Canada-European trade agreement as one that will be most beneficial to the sector.
MAC president-CEO Pierre Gratton said his industry group is “highly supportive” of the trade agreement.
Gratton called the agreement “a significant step forward that...will eliminate existing European tariffs on Canadian mineral products, help facilitate labour mobility, and encourage European investment in the Canadian mining sector.”
The European Union is Canada's second largest export market for Canadian metals, third largest market for non-metals, and the fourth largest market for mineral fuels. Canada annual exports about $20 billion worth of metal and mineral products to the EU, led by precious gems and metals. Other key exports are gold, nickel, diamonds, aluminum and iron ore.
The new agreement at implementation elimination of tariffs to raw mineral and mineral products on aluminum; nickel; non-ferrous metals like copper, zinc, lead and tin; and iron and steel products.