Mining is an increasingly rare success story in Canada’s economy. While most public commentary focuses on the economic threat from Donald Trump, Canada’s chronic slow economic growth, and stagnant exports, mining’s buoyancy is a reminder that Canada still can be a beacon for investment and successfully compete in global markets as well as a strategic industry in an era of economic and geopolitical competition.
This DeepDive essay provides an overview of recent developments in Canada’s mining industry. It documents mining’s expanding output, incomes, and jobs, fuelled by the recent surge of investments and export demand for most metals and minerals.
The resurgence of the mining industry’s fortunes over the last two decades is a remarkable turnaround. Canada’s mining industry contracted steadily in the 1990s, with output receding at a time of slumping demand and prices on world markets while investment plunged so low that mining’s capital stock fell outright.
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