Mining in Ontario - Facts and Figures
Ontario is Canada's leading destination for mineral exploration investment and Toronto is the leading mine-financing capital of the world.
- In 2011, Ontario led the country with $3.5 billion in capital investment in mining.
- Capital investment in mining is expected to increase to $3.8 billion in 2012.
- In 2011, exploration spending in Ontario reached a record $1 billion, accounting for 26 per cent of the national total.
- Over $50 million was spent in 2011 on exploration in the Ring of Fire alone. This figure is projected to increase to over $80 million in 2012.
- In Ontario, there are over 600 active mineral exploration projects, ranging from early prospecting to advanced exploration projects.
- Ontario is Canada's largest producer of non-fuel minerals.
- The annual value of mineral production in Ontario was $10.7 billion in 2011. The province leads nationally in the production of nickel, copper, gold, platinum group metals, cobalt, salt, lime, cement, stone, and sand and gravel .
- Over the last 10 years, more new mines opened in Ontario than anywhere else in Canada.
- Currently, 38 mines are in operation, with another eight expected to open in the next decade.
- Almost 60 per cent of the metals mined in Ontario are processed here, in addition to processing minerals from four Canadian provinces, the United States and Australia.
- Toronto is the mine-financing capital of the world. In 2011, the Toronto Stock Exchange (TSX) raised over $12.5 billion in new equity capital.
- Together, the TSX and the TSX Venture Exchange (TSXV) list over 1,600 mining companies - more than half of the world's listed companies - with a market capitalization of $427 billion in 2011.
Skills Training and Job Creation
- Ontario accounts for over 25 per cent of mining jobs in Canada, with the mining industry creating over 27,500 direct and 50,000 indirect jobs in the province.
- About two-thirds (over 65 per cent) of Ontario mining jobs are in the North.
- The mining industry is the largest employer of First Nations in Canada, and a leading employer in Ontario.
- Northern Ontario's leading-edge mine supply and service sector is worth an estimated $5.6 billion a year and provides an additional 23,000 jobs.
- Ontario's mining companies meet the highest standards of environmental stewardship. Companies spend an estimated $85 million a year on mine land rehabilitation, environmental engineering and environmental technologies.