Ontario is a world-ranked producer of many minerals, with a rich mining history spanning more than a century. Over that time, total metal production in the province has exceeded $363 billion from, among other commodities, 10 million tonnes of nickel, 166 million oz. of gold and 14 million tonnes of copper. Currently, there are 27 operating metal mines in Ontario, all in the province’s north, including 11 gold mines, 15 base metal mines and one platinum group metals (PGM) mine. There is also a world-class diamond mine, located in the province’s Far North, and 12 major industrial mineral operations, mostly located in southern Ontario.
The total value of mineral production in Ontario in 2009 was $6.3 billion, down significantly from $9.5 billion in 2008. Despite this drop, Ontario remains the leading producer of non- fuel minerals in Canada. Most of the decline is attributable to a decrease in the value of metallic minerals production, which depreciated to $3.8 billion in 2009 from $6.6 billion in 2008. The value of nickel produced dropped below $1 billion for the first time in 10 years, down from $2.6 billion in 2008. The quantity of nickel produced in Ontario dropped by over half from last year’s level, as many of the province’s nickel mines suspended production. PGM and copper production are also down significantly, due to reduced output of these metals. The price of gold remains high and new production is coming onstream, resulting in an increase in the value of gold produced in Ontario –up to $1.8 billion in 2009, its highest level over the last 60 years.
The construction industry in Ontario experienced a sharp decline in 2009. As a result, the value of non- metallic minerals, many of which are mainly used in construction, fell to $2.5 billion in 2009, down from $3 billion in 2008.
The outlook for 2010 is more positive, as the demand for metals should increase with the economic recovery, and there is a renewed sense of optimism in the mining community. The outlook for the price of gold remains strong, which should help some of Ontario’s more advanced projects move forward and the outlook for base metal prices over the next couple
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