Inflation, volatile markets, and geopolitical tensions are testing Ontario's miners and explorers. Despite high metals prices seen in 2023, rising costs for miners and a lack of capital for explorers have resulted in a challenging year. Nevertheless, they push forward: exploring, developing, and mining Ontario’s rugged terrain. Meanwhile, the government sought to streamline the creation of new mines with the Building More Mines Act, made a home for Volkswagen and Stellantis-LG electric battery factories, and continued to boost local exploration through the Ontario Junior Exploration Program (OJEP). In spite of adversity, Canada’s Heartland Province has the potential to be the epicenter of the green energy transition and maintain its status as Canada’s golden province.
This pre-release edition of Ontario Mining and Toronto's Global Reach 2024 comprises analysis based on over 40 interviews with the leading executives from major producers, associations, juniors, consultants, investors, and service providers, to provide an in-depth and holistic view of what is happening now, and more pertinently, what could happen in the years ahead.