Canada: One mining project, one review

TORONTO, Feb. 1 (UPI) -- The Canadian government wants to streamline regulatory procedures for the mining sector to become a global leader, a minister said.

Canadian Natural Resources Minister Joe Oliver said his country needs to update its regulatory policies to stimulate the mining sector.

"What Canada really needs is a regulatory system appropriate for the 21st century, one that balances efficiency with effectiveness and one that stimulates jobs and growth in a social and environmentally responsible manner," he said.

Oliver was speaking before the Canada Mining Innovation Council, which was established to spur research and innovation needed to boost Canada's role as a global mining leader.

"Our ultimate goal is one project, one review, with clear timelines from beginning to end," he said.

Oliver, in an address before the Economic Club of Canada earlier this week, said energy and mining projects in the country represent as much as $500 billion in potential investment during the next decade.