OPINION: Going into the future with Eyes Wide Open – NNSL
May 28, 2024
The closure of all three diamond mines by 2030 — along with the unfortunate coincidental completion of oil production at Norman Wells — means major contributions to our economy will shrink, there will be fewer jobs, there will be less dis
The closure of all three diamond mines by 2030 — along with the unfortunate coincidental completion of oil production at Norman Wells — means major contributions to our economy will shrink, there will be fewer jobs, there will be less disposable income, and governments will have less revenue.
How bad can it be? The economic analysis, Eyes Wide Open, indicates annual losses of 1,880 jobs, $246 million in labour income, and over 20 per cent of government income.
Yet, there is a huge and growing need for mining.
The world is entering the greatest energy transition since oil was discovered but this time to alternative energies to help address climate change. This requires huge growth in the supply of what are called critical minerals, minerals with the ability to reduce use of fossil fuels for energy.
Read More: https://www.nnsl.com/home/opinion-going-into-the-future-with-eyes-wide-open-7365621
