Global Business Reports


Margarita Todorova, Micah Lanez, Maya OrdoƱez

Ontario Mining and Toronto's Global Reach 2024 - Digital Interactive

April 29, 2024

Inflation, volatile markets, and geopolitical tensions are testing Ontario's miners and explorers. Gold, the backbone of Ontario’s mining sector, has continued its bull run to reach all-time highs, just as Ontario has seen new major mines pour their first gold, and with more to come online throughout 2024. However, Ontario’s prospectors and miners have faced challenges, some self-imposed and others due to the cyclical nature of mining. The mining sector’s persistent labor shortages continue, hindering Ontario’s efforts to pursue its Critical Minerals strategy.

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 incentives such as the Ontario Junior Exploration Program (OJEP) and the Critical Mineral Exploration Tax Credit (CMETC). 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.

GBR’s annual Ontario Mining and Toronto’s Global Reach 2024 report draws from over 100 interviews with 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.


Tembo Power is developing hydropower projects across Africa with a focus on DRC.
Chesser Resources is upbeat about its Diamba Sud gold resource in Eastern Senegal.
Robocon speaks with GBR about the outlook for its services in Peru.
"Our product innovation process involves gathering client feedback and submitting it to the factory, which determines which ideas to pursue based on economic considerations."


Peru Mining 2024 Pre-Release II

As the second half of 2024 approaches, Peru stands at a crossroads. According to the latest figures, the Democratic Republic of Congo has surpassed Peru as the second-largest copper producer. Cabinet changes under Boluarte's administration and ongoing corruption cases have taken a toll on investor confidence, and illegal mining remains a pressing issue. However, not everything is lost for the Andean country, and the mining sector presents growth opportunities.



"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."