Canada's position as a leading player in the mining industry is reinforced by the fact that some of its top mining companies are among the largest globally.
Canada's prosperity can be attributed to its plentiful natural resources and outstanding abilities in manufacturing and processing, as well as its stable and advantageous legal and tax systems. The nation possesses a vast array of mineral resources that include everything from industrial raw materials to precious and base metals.
Mining Digital takes a look at the country's top 10 mining companies.
Canadian Natural Resources Limited (CNRL) is one of the largest independent crude oil and natural gas producers in the world. The company was founded in 1973 and is headquartered in Calgary, Alberta, Canada.
In addition to its oil and gas production operations, CNRL also has a significant presence in the oil sands pipeline sector, with interests in several pipeline systems that transport crude oil from the Alberta oil sands.
CNRL's operations span North America, with assets in Western Canada, the North Sea, and Offshore Africa.
Yamana Gold Inc. is a Canadian-based precious metals producer with operations in Canada, Brazil, Chile, and Argentina. The company was founded in 2003 and is headquartered in Toronto, Ontario, Canada.
Yamana Gold primarily focuses on exploring, developing, and producing gold and silver. The company's portfolio of assets includes six operating mines and several development and exploration-stage projects.
Yamana Gold's largest producing mines are the Canadian Malartic mine in Quebec, the Jacobina mine in Brazil, and the Cerro Moro mine in Argentina.
Agnico Eagle Mines Limited is a Canadian-based gold mining company with operations in Canada, Mexico, Finland, and the United States. The company was founded in 1957 and is headquartered in Toronto, Ontario, Canada.
Agnico Eagle Mines' largest producing mines are the Meadowbank and Meliadine mines in Nunavut, Canada, the LaRonde mine in Quebec, Canada, and the Kittila mine in Finland
Wheaton Precious Metals Corp. (formerly known as Silver Wheaton Corp.), was founded in 2004 and is headquartered in Vancouver, British Columbia, Canada.
Wheaton Precious Metals provides financing to mining companies in exchange for the right to purchase a percentage of the precious metals produced by those companies at a fixed price. This business model allows Wheaton to benefit from the upside potential of precious metals prices while minimizing the risks associated with mining operations.
First Quantum Minerals is primarily focused on the exploration, development, and production of copper, nickel, gold, and zinc. The company's portfolio of assets includes eight operating mines and several development and exploration-stage projects.
First Quantum Minerals Ltd. is a Zambia, Mauritania, Turkey, Spain, Panama, Argentina, and Finland. The company was founded in 1996 and is headquartered in Vancouver, British Columbia.
5. B2Gold (BTO)
B2Gold Corp, primarily focused on the exploration and production of gold and runs operations in Mali, Namibia, the Philippines, Colombia, and Nicaragua. The company was founded in 2007 and is headquartered in Vancouver, British Columbia, Canada.
The company's portfolio of assets includes five operating mines and several development and exploration-stage projects, and this year, B2Gold forecasts gold production to be 1,000,000 - 1,080,000 ounces.
Lundin Gold is a Canadian-based mining company focused on exploring, developing, and producing gold and copper deposits in Ecuador. The company was founded in 2014 and is headquartered in Vancouver, British Columbia.
Lundin Gold's primary asset is the Fruta del Norte project, which is one of the largest and highest-grade gold projects in the world. The project is located in southeastern Ecuador, in the highly prospective Cordillera del Condor region, and is expected to produce an average of 325,000 ounces of gold per year over its estimated 15-year mine life.
With a market cap of CAD $28.12 bn, Teck Resources Limited operates in copper, zinc, steelmaking coal and energy segment. Teck Resources' largest producing mines are the Highland Valley Copper mine in British Columbia, Canada, the Quebrada Blanca Phase 2 copper mine in Chile, and the Elkview steelmaking coal mine in British Columbia, Canada. The company also has significant development projects, including the QB3 copper project in Chile and the Zafranal copper project in Peru.
What makes this company particularly unique within the mining sector is its role as a leader within the sustainability space. The company has is ranked #1 in the Metals and Mining industry on the S&P Dow Jones Sustainability World Index (DJSI), and is already one of the lowest greenhouse gas (GHG) emission-intense mining and minerals companies in the world — in the last decade, Teck Resources have reduced GHG emmisions by more than 411,000 tonnes.
2. Barrick Gold
Barrick Gold is one of the largest gold producers in the world. The company was founded in 1983 and is headquartered in Toronto, Ontario.
Barrick Gold operates mines and development projects across the Americas, Africa, and the Middle East, with a focus on high-quality, low-cost gold production. The company's portfolio includes 10 producing mines and several development projects, including the Pueblo Viejo mine in the Dominican Republic, the Veladero mine in Argentina, and the Hemlo mine in Canada.
In addition to its mining operations, Barrick Gold is also actively involved in exploration and development activities to identify and develop new gold deposits. The company has a strong balance sheet and a disciplined approach to capital allocation, which has enabled it to generate strong returns for its shareholders.
1. Nutrien Ltd.
Nutrien Ltd. is a global supplier of crop inputs and services, including potash, nitrogen, and phosphate fertilisers. The company was formed in 2018 as a result of a merger between PotashCorp and Agrium, two of the largest agricultural companies in Canada.
It is the largest producer of potash and the third-largest producer of nitrogen fertiliser in the world. It has over 2,000 retail locations across North America, South America, and Australia with more than 23,500 employees.
Nutrien owns and operates several mines that produce potash, a mineral used primarily as a fertilizer. Potash is a critical ingredient in promoting healthy plant growth, and Nutrien's mines are located in some of the world's most productive agricultural regions.