9 Biggest Mining Companies In Canada
Canada is a massive country with dozens of mineral resources. However, the Canadian economy needs to produce, develop, and mine these resources. These mining companies play a major role in the production of potash, cobalt, uranium, zinc, and other minerals. In addition, they produce copper, silver, gold, platinum, nickel, and uranium.
Below, we have discussed some of the biggest Canadian mining companies in terms of their yearly revenue. All the companies mentioned in this article are publicly traded in Canada, the U.S., or through ADR (American Depositary Receipt). Lets begin!
Biggest Mining Companies of Canada You Must Explore
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Nutrien
Nutrien is one the largest mining companies in Canada, being the largest producer of potash. Nutrien is actually a fertilizer company that produces over 20+ million tonnes of phosphate, nitrogen, and potash products for industrial and agricultural purposes.
This company was formed when a merger was made between the two biggest agriculture companies, Agrium and PotashCorp. The company is well-known all across the globe, with over 2,000 retailers and 23,000 employees.
The company also distributes seeds, merchandise, crop nutrients, and protection. Nutrien is based in Saskatchewan, and its stock trades in the U.S. (NYSE) and on the Toronto Stock Exchange.
First Quantum Minerals
First Quantum Minerals, or F.M., mainly deals in exploration, mining, and development. It produces copper, zinc, gold, cobalt, and nickel. It operates all the mining operations in Australia, Africa, and Latin America.
Quantum Minerals stock usually trades in Toronto and OTC in the U.S. They have eight mines for operation and many projects for development and exploration. Moreover, it was founded in 1996, with Vancouver as its headquarters.
Teck Resources
Teck Resources is a diversified resources company that is involved in the development and mining of minerals. It mainly focuses on zinc, coal, copper, energy, and steelmaking. Teck Resources also provides molybdenum, lead, silver, and other metals and fertilizers. Their operations are mainly located in Peru, Chile, Canada, and the U.S.
The company is also interested in oil sand mining and energy production. Teck's operations contribute to the global supply of main commodities. The market cap of this company is $28 bn CAD. Its biggest producing mines are located in Highland Copper Mine and Elkview Coal Mine in British Columbia, and the Quebrada Copper Mine in Chile.
The company is ranked #1 in the Mining industry on the S&''P Dow Jones Sustainability Index (DJSI). In addition, in the past ten years, this company has reduced greenhouse gas emissions by 400k tonnes. They are one of the leading players in the Canadian mining industry.
Agnico Eagle Mines
Agnico Mines is a gold mining company. Its operation locations are in Canada, the U.S., Colombia, Finland, Australia, and Mexico. It was founded in 1957, and its exploration activities are in the above countries.
Agnico Eagle Mines is the biggest gold-producing mine located in the region of Nunavut, Quebec, Canada, and Finland. Its stocks are publicly traded in Toronto, Canada, and in the U.S.
Barrick Gold
Barrick Gold was founded in 1983, and its headquarters is located in Toronto, Ontario. It is one of the biggest gold producers in the world. Barrick Gold is mainly engaged in mines and development projects of Gold in America, the Middle East, and Africa.
But waittheres more! This company highly focuses on producing high-quality gold at affordable prices. Barrick Gold is also involved in the development and exploration of new gold deposits.
In addition, they have ten gold-producing mines and several other projects in their portfolios. Some of its famous projects include the Veladero mine in Argentina, the Hemlo mine in Canada, and the Pueblo Viejo mine in the Dominican Republic.
However, Barrick Gold has a professional approach towards capital allocation, which helps it generate huge returns for its investors and shareholders. That's why they are the major miners in Canada.
Kinross Gold
It is a gold mining company and was founded in 1993. It is involved in the production, exploration, and development of gold. Kinross Gold has a diverse portfolio of projects and mines.
Moreover, it produces gold and silver from Brazil, Chile, Canada, and the U.S. in big proportions. What's more, its stock is publicly traded in Canada and the United States, making it a reputable organization.
Lundin Gold
Lundin Gold is a mining company based in Canada, founded in 2014. It focuses on developing, exploring, and producing copper and gold deposits. The headquarters of Lundin Gold is located in Vancouver, Canada.
Surprisingly, its primary asset is the world's largest gold project. Whats more, this project is situated in Ecuador, and it is expected to produce 300,000+ ounces of gold every year in its 15-year life.
B2 Gold Corp
B2Gold Corp focuses on exploring and producing gold. It was founded in 2007, and its headquarters is located in Vancouver, British Columbia. Its operations are done in Columbia, Philippines, Namibia, Nicaragua, and Mali.
The portfolio of B2 Gold Corp includes five gold mines and many exploration and development projects. The company's stock is traded on the Toronto Stock Exchange in Canada as well as in the U.S. under the symbol "BTG". The market cap of B2 Gold is around USD 5 billion.
Wheaton Precious Metal
Wheaton Metal Corp was founded in 2004. It was formerly known as Silver Wheaton. This company has a unique business model. They provide finance to other mining companies, and in return, they get a percentage of some precious metals from those mining companies at a specific price.
That's a win-win situation for both of the companies. Wheaton gets precious metals at low cost, while mining companies get financing for their operations.
Wheaton Precious Metals has agreements with a diverse portfolio of mining assets around the world. These assets include both operating mines and development-stage projects. This business model has made the company profitable and has provided investors exposure to precious metals without owning or operating mines.
Moreover, the company emphasizes sustainability and responsible mining practices. It partners with mining companies that have high environmental, social, and governance standards.
Conclusion
To conclude, these are the 9 biggest Canadian mining companies. These are just a few examples of the many mining companies operating in Canada. The country's mining industry has a wide range of commodities, including gold, copper, nickel, zinc, uranium, diamonds, and many other minerals.
