Strike gold by starting your
Mining business in Ontario
Heralding a new era of critical mineral prioritization
Mined materials are the building blocks of our everyday life. From energy to electricity, farming to houseware, healthcare to transportation, the Mining industry is a central pillar of the global economy and modern civilization.
From 2022 to 2023, the global Mining industry grew by 6.1% CAGR – from US $2022.6 billion to US $2145.15 billion and is expected to reach US $2775.5 billion by 2027.
However, there is a change in the making – it’s now the era of critical minerals. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are taking over from their fossil fuel counterparts because of their pivotal role in a cleaner and greener future. The demand for these critical minerals is projected to increase sixfold according to the International Energy Agency (IEA).
In addition to critical minerals taking centre-stage, and governments racing to secure access to them, other trends that mark the growth of the industry include, Mining companies focussing on ESG to reduce their carbon footprint, the need for social licence from communities, partners, and stakeholders, and faster adoption of technology in Mining corporations to ensure efficiency and lower costs of production.
A leader in the global Mining industry
Canada is a global Mining leader. It is a key supplier to North America, Asia, and Europe. Globally, Canada ranks #1 in potash production, second in niobium, and third in palladium. It is also the fourth-largest primary producer of aluminium.
Canada produces more than 60 different minerals and metals from nearly 200 mines and over 6,500 stone, sand, and gravel quarries. The value of Canada’s metals production stands at CA $36 billion, non-metals at CA $12 billion, and coal at CA $8 billion.
Every province and territory in Canada has mineral production. The top three provinces by value or mineral production are British Columbia (CA $12.9 billion), Quebec (CA $11.9 billion), and Ontario (CA $11.1 billion).
For years, the country’s financial capital, Toronto, has served as the epicentre of Mining finance, boasting investment banks, Mining brokerages, and the Toronto Stock Exchange at its core. Mining equipment and technology production is therefore a naturally large market force, all things considered.
Canada is one of the Top 5 global producers of:
Home to rich geological reserves integrated with North American manufacturing
Ontario’s critical minerals profile is also extremely impressive:
Mining is a widespread industry across the entire province of Ontario. Many communities like Windsor, Goderich, Perth, Midland, Sudbury, Timmins, Red Lake, Kirkland Lake, Marathon, North Bay, and Attawapiskat, have Mining as a very significant part of their economies. In certain regions, particularly in the far North, the development of mineral resources is essential for generating employment and fostering entrepreneurial opportunities.
Since Mining is such a backbone of the country’s economy, there are a multitude of educational degrees and programs available to match talent requirements. In fact there are over 13 scholarships dedicated specifically by Mining organizations to a variety of schools. Some of them include:
Canada’s trade agreements cover markets valued at over US $50 trillion with 1.7 billion consumers. Canada has free trade agreements with the largest manufacturing markets in the world: the United States (USMCA), the European Union (CETA) and Asia-Pacific (CPTPP).
Your business can have access to 187 million consumers within a day’s drive of the Greater Toronto Area. Ontario has 4 international and 300 regional airports, 250,000 km of roads and highways, a dozen border crossings and the 6th most internationally connected airport in the world.
See all of our programs and find out how TBDC can maximize the potential in your Mining business.
largest Mining
sector in Canada
significant diamond mines
in mineral exploration investments in 2022
in mineral production value
leader in global Mining finance (Toronto)
active Mining projects
Funding, Resources and Organizations
Using the Business Benefit Finder, you can find many more government grants and incentives relevant to your tech startup.
represents the Mining industry of the province. They work with the government and communities of interest to build consensus on issues that matter to Mining. Visit Site
