Value of Canada’s Mineral Assets Declines
Posted by Alana Wilson on 12/9/2013 9:59:17 AM
Statistics Canada has released new figures on the value of Canada’s natural resource assets. In 2012, total natural resource assets were valued at $781 billion, a decrease of 30% from 2011 and reflective of lower prices received. Between 2002 and 2012, the value of natural resource assets increased at an average annual rate of 3.4%.
Chart 1 – Natural Resource Assets, 2002 to 2012
Minerals accounted for 29% of Canada’s natural resources, while energy resources accounted for 56% of the value and timber for 14%.
The value of mineral assets declined 28% from a year earlier to $230 billion in 2012, after increasing by nearly 40% in 2011. Within the mineral resources group, base metal and potash assets accounted for the largest portion of the decline in 2012. In general, lower prices for mineral assets compared with the previous year contributed to the decline.
Energy resource—which includes coal, crude bitumen, crude oil, and natural gas—were valued at $438 billion in 2012. This represents a decline of 35% from their 2011 value and is mainly due to lower prices for all energy resource assets, particularly natural gas.