New socioeconomic analysis highlights Elk Valley Resources as a key engine of Canada and British Columbia’s economy
Vancouver, B.C. – Elk Valley Resources (EVR), Canada’s largest producer of steelmaking coal, today released results of a new socioeconomic study that shows the company’s significant contributions to local, provincial, and national economies.
The study helps demonstrate that EVR plays a vital economic role, creating thousands of jobs and contributing billions in annual value.
EVR engaged KPMG to conduct the study, which is based on 2024 data
- $6.1 billion in GDP, equal to approx.12% of Canada mining sector GDP
3 , - More than 5,700 Canadian jobs, and
- Employee compensation at EVR is 70% higher than the national average wage.
EVR’s operations also play an important role within the British Columbia economy, including:
- $5.3 billion in GDP, equal to approx. 70% of B.C.’s mining sector GDP
2 , - Approximately 5,500 employees at its B.C. operations and offices,
- $475 million in employee compensation,
- $470 million in government revenues, and
- $3.3 billion in annual supplier spend in B.C.
“The report helps demonstrate how EVR strengthens economies at every level, from local communities to federal, by sustaining high quality jobs and supporting a resilient, integrated supply chain,” said Mike Carrucan, CEO, EVR. “This study helps quantify that contribution and underscores the importance of our business as a responsible producer of a resource the world needs today and into the future.”
The study further measured EVR’s economic footprint in and around its four steelmaking coal mines in southeastern B.C. The study revealed that:
- In the communities of Elkford and Sparwood, approximately one in every two workers is employed by EVR.
- Approximately one in every four workers in Fernie and around one in every seven workers in Crowsnest Pass, AB are employed by EVR.
- EVR is a major source of municipal government revenue across all communities, which includes contributing 73% and 89% of total tax income in Elkford and Sparwood, respectively.
Further, an economic study was also conducted by KPMG, on behalf of EVR, to examine the importance of advancing the Fording River Extension (FRX) Project to maintain EVR’s economic contributions. FRX would extend the mine life of EVR’s Fording River Operations by approximately 35 years and enable the following benefits:
- Creating 400 direct construction jobs,
- Extending the mine life of Fording River Operations, which represents 34% of EVR’s total steelmaking coal production,
- Maintaining 1,500 direct well-paying jobs at Fording River Operations, and
- Generating $1.5 billion in GDP annually (based on 2024), representing approx. 21% of BC’s mining sector GDP.
For more information on the EVR socioeconomic study, visit evr.com/what-we-do/economic-contributions
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