The top mining companies in Canada are continuing to pave the way for economic strength in the world's mining and metal sector and for Canada as a whole. After experiencing losses and general downward growth during the 2008 global recession, mining in Canada bounced back quickly especially on the back of commodities. While growth started in 2009, 2010 showed a 30% higher growth rate for Canada's top 100 mining companies. This figure puts the top 100 at a valuation of $467 billion.
While the top mining companies have further solidified their positions in the mining industry new companies also entered the market. In 2010, the Venture index saw 50% more listings while the Toronto Stock Exchange saw 14% more mining companies listed. These new companies and the existing ones listed are building on strong commodity prices, particularly in gold, in potash and even in rare earth elements where the global market is experiencing strong demand. Rare earths are likely to become a more important factor in the mining industry as the demand for them is slated to double by 2015 while the world's majority exporter, with 97% control of the market, China has decided to cut their exports significantly.
Canada is a major player in the global mining industry. Of the top 100 mining companies in the world, Canadian companies hold 20% of the spots, more than any other country. Mining companies in Canada contribute approximately $32 billion to Canada's gross domestic product, which over the last 20 years has remained a pretty stable 3.5% - 4.5% of GDP.
Some facts about the mining industry in Canada;
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Toronto is considered the mining finance capital of the world.
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Canada has the most well-known and well respected disclosure standards. This standard is known as National Instrument 43-101 and is becoming the global standard of disclosure.
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The top three provinces for mineral production are Ontario, Quebec and British Columbia.
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Canada ranks first globally in several markets including; potash and uranium; ranks third in platinum, aluminium and titanium; and ranks fifth in diamonds, zinc, and molybdenum and salt.
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Canada's top mining companies are responsible for the largest share of exploration spending in Canada, Africa, the United States, Central America, Latin America and Europe.
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Canada exports $49 billion in metals annually, and 58% of that goes to the United States.
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Other major trading partners include Europe, China and Japan.
Canada's top mining companies are incredibly strong in the global market with no signs of slowing down. Recognized globally as the strongest country in the mining world and with the highest standards, mining companies in Canada have proven to be able to weather any storm and come out of any situation on top. The future of these top mining companies in Canada is strong and new companies, such as those in rare earths and rare metals, have the potential to join them.