What the top 5 mining companies in Canada are doing differently
It’s been a rough couple of years for the global mining industry. Specifically, commodity prices continue to sag and investments are down. Projects are even being stalled, resulting in the entire sector—Canada included—taking a hit.
Interestingly enough, the top 5 mining companies from last year have held onto their spots this year. In fact, these top performers are seeing revenues in the billions, meaning they’re doing something right.
But what are these mining companies doing and will they continue to remain in the top spots?
A metals and mining company, Teck Resources Limited is mostly known as one of the largest diversified resources companies throughout Canada—a fact that has allowed it to rank in the top 5 and earn a profit. Furthermore, Teck is also known for many of its “best in class” and environmental and social performance achievements.
As one of the world’s larger producers of synthetic crude oil from oil sands, Syncrude Canada also happens to be the largest single source producer throughout the country. Originally formed as a research consortium in 1964, expansions and upgrades have taken place since its opening and continue to do so.
Based in Calgary, the Suncor Energy mine specializes in the production of synthetic crude oil from oil sands. Suncor holds the distinction of being the world’s largest producer of bitumen and own and operates refineries in Alberta, Ontario and Quebec.
2. Barrick Gold
While based out of Toronto, Barrick Gold is noted for being the largest gold mining company—in the entire world. Originating as a privately held North American oil and gas company, Barrick Gold has since evolved. Internationally recognized in the global mining industry, this company is considered to be quite the powerhouse.
1. Agrium Inc.
Agrium is a retail supplier of agriculture products and services North America, South America and even Australia. The company is known for providing a range of products, including nitrogen-based fertilizers, sulphur and phosphate-based fertilizers from potash mines in Saskatchewan and in Kapuskasing, Ontario, and in Conda, Idaho.
For now, these top mining companies appear to be untouchable, and have been for the past two years. Time, the economy and other factors throughout the remaining months of the year will determine which mines earn top rankings next year.
[SOURCE: Canadian Mining Journal]