Revenue of the top 40 climbs to $125B
The Canadian mining industry counted much success in 2020 despite a year that saw shutdowns due to the Covid-19 pandemic. Concerned about the health of its workforce and local communities, in many cases miners chose to temporarily suspend operations rather than risk spreading the virus.
Temporary shutdowns continued throughout the year at individual sites as outbreaks occurred, but the industry as a whole weathered the interruptions and adopted new safety protocols without major production losses.
Long-time readers of CMJ’s Top 40 Canadian mining companies will not be surprised to note that once again potash producer Nutrien has taken the top spot with revenues of $28 billion.
It was also the No. 1 revenue generator in last year’s list and in the previous year. Created in 2018, Nutrien combined the assets of both Agrium and Potash Corp. of Saskatchewan, both of which had dominated our list for a decade.
Being a potash producer may lack the prestige of being a gold producer, but we expect potash dominance to continue. There are 7.7 billion people – all of whom need to eat – living on our finite planet. Moreover, the amount of arable land is shrinking due to rising sea levels, warming climate and urbanization. As the population continues to grow, potash will remain a key means to getting the most food from our farmlands.
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