Gold & Silver Ore Mining in Canada - Market Research Report (2014-2029)

Strike Gold: Decreasing Prices of Gold and Silver Will Lower Product Prices for Industry Operators

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Gold and silver ore mining continue to thrive as production outputs expand. While the industry does contain silver mining, Canada's vast deposit of gold mines leads to more than 97.0% of revenue coming straight from gold product sales. Rising gold prices amid the pandemic led to an influx of investor buyouts since gold is countercyclical to the market and hedges against inflation and market volatility. Revenue continued to expand even as production dipped following limited operational capacity as miners abided by health and safety regulations. Even so, as the economy recovered, investors began resuming interest in other asset classes. Gold and silver ore mining revenue is expected to grow at a CAGR of 3.2% to $14.1 billion over the five years, including a 2.1% uptick in 2023. Rising output kept profit levels high.

The Gold and Silver Ore Mining industry in Canada mines and prepares ores valued primarily for their gold or silver content. Some companies process ore into concentrate or bullion on-site, while others maintain refining facilities abroad. Companies in this industry can also store and delay the sale of their output to speculate commodity price fluctuations.