Gold production in Canada is forecast to rapidly expand over the next five years. Canada has historically sat globally as the fourth major producer of gold, but by 2026 growth projections estimate Canada will overtake Russia to sit as the third largest global producer behind Australia and China producing 10.4Moz of gold, up from 6.7Moz in 2023.
This boom in
growth is set to come from an abundance of new projects coming online in the
short-term, as well as expansions at existing mines. Canada is known for being a
mining-friendly country. It came in second place in the 2022 Fraser Institute Annual
Survey of Mining Companies as the most attractive country for mining investment
with the greatest number of jurisdictions in the top 10 behind the US.
Around
68% of gold production in 2023 came from Quebec and Ontario, which individually
placed 8
th and 12
th respectively as the most attractive jurisdictions
for mining investment.
Current Producers