The Top 5 Mining Companies in Canada

The Top 5 Mining Companies in Canada

Canada is a country with vast natural resources. The exploitation, extraction and production of these resources is therefore an important part of Canada’s economy. Canadian mining companies are leaders in the production of uranium, zinc, nickel, potash, cobalt and iron ore. It also has a growing industry in important minerals, as well as producing large amounts of oil, gold, platinum, copper, silver and lead. These are the top 5 biggest Canadian mining companies.

5. Agnico Eagle Mines Limited (NYSE:AEM)

Revenue for 2023: $6.63 billion

In the realm of mining, who do you know is making waves? The Canadian gold producer Agnico Eagle Mines Limited (NYSE:AEM) has activities in Finland, Australia, Mexico, Canada, and even the United States.

Agnico Eagle Mines Limited (NYSE:AEM) exceeded forecasts in the fourth quarter of 2023, closing on December 31st, with adjusted earnings per share of 57 cents, up from 38 cents the previous year. They exceeded the Zacks Consensus Estimate of 48 cents, showing a strong result. Additionally, they earned a whopping $1,756.6 million in sales during the quarter, a remarkable 27% increase over the same period last year.

4. Teck Resources Limited (NYSE:TECK)

Revenue for 2023: $11.12 billion

Let’s talk about Teck Resources Limited, a major company in the mining industry. Teck Resources Limited (NYSE:TECK), formerly known as Teck Cominco until 2008, is based in Vancouver, British Columbia. Teck Resources is engaged in the extraction and development of minerals such as coal, copper, zinc and energy for the steel industry.

For the fourth quarter of 2023 ended December 31, TECK Resources Limited (NYSE:TECK) achieved an impressive adjusted EBITDA of $1.7 billion, compared to $6.4 billion for the full year. How did you do it? Well, thanks to higher steel coal and copper prices and more steel coal being sold. The company also generated pre-tax income from continuing operations of $694 million in the fourth quarter of 2023, for a full-year profit of $3.9 billion.

3. Goldcorporation Barrick (NYSE:GOLD)

Revenue for 2023: $11.40 billion

In the mining scene, Barrick Gold Corporation (NYSE:GOLD) is regarded as an important player in copper and gold mining. Their portfolio covers around obtaining such high-profit, long-life assets and spans the most popular gold and copper markets globally.

Barrick Gold Corporation (NYSE:GOLD) was all about projections in February 2024, anticipating a spike in gold production for the following year after shattering it in the fourth quarter due to strong gold output and prices. their shares listed in the United States? They actually surged by about 2% before the market became aware of the juicy new buyback plan of up to $1 billion that the second-largest gold miner in the world had revealed. Barrick has set a lofty goal for 2024: in addition to producing 4.05 million ounces of gold in 2023, they hope to produce between 3.9 and 4.3 million ounces this year.

2. Newmont Corporation (NYSE:NEM)

Revenue for 2023: $11.78 billion

Oh, Newmont? Newmont Corporation (NYSE:NEM), headquartered in Greenwood Village, Colorado, is a leading mining company known worldwide for its large-scale gold operations. Since its founding in 1921, the company has mined gold all over the world, including in Nevada and Colorado, as well as Ghana and Australia. Just last November, Newmont acquired Newcrest Mining Limited, becoming a major company with a strong arm in copper.

After closing the deal, Newmont Corporation (NYSE:NEM) has its eye on some significant wins. The company is aiming for around $500 million in pre-tax synergies within 24 months, and with some smart portfolio moves, he’s aiming for a whopping $2 billion cash improvement. In addition to these big moves, Newmont hasn’t shied away from giving back. In 2023, he paid a huge dividend of $1.4 billion to shareholders.

1. Nutrien Ltd. (NYSE:NTR)

Revenue for 2023: $29.06 billion

So Nutrien Inc. (NYSE:NTR) is based in Saskatoon, Saskatchewan and holds the heavyweight title as the world’s leading soft rock miner and potash producer. Nutrien has an impressive 20 million tonnes of potash mining capacity spread across six world-class mines in Saskatchewan. (NYSE:NTR) is pretty much the king of the potash industry. Needless to say, with all their world-class reserves and expansion projects, they are well-positioned to finance the world’s long-term potash hunger.

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