Canada Gold Mining Market Analysis including Reserves, Production, Production Forecasts, Operating, Developing and Exploration Assets, Key Players and the Fiscal Regime including Taxes and Royalties, 2021-2026

Pages: 49 Published: April 01, 2022 Report Code: GDMMPMG049MR

  • Overview
  • Key Players
  • Contents
  • Tables
  • Figures
  • FAQ
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Canada is one of the largest contributors to the global gold supply and accounted for more than 5% of global gold production in 2020. Gold is scattered across the Canadian landscape in a variety of gold mining regions and districts, with the most prolific located between Ontario, Quebec, and British Columbia. Some of the largest gold-bearing deposits in Canada include the Detour Lake, Canadian Malartic, Brucejack, and Meliadine projects, located in Cochrane, Val-d’Or, Stewart, and Rankin Inlet, respectively. Production will be mainly supported by the Detour Lake, Canadian Malartic, Meadowbank Complex, Meliadine, Eagle Gold, and Young-Davidson mines, among others.

What are the market dynamics in the Canada gold mining sector?

Industries and economies all over the world have been impacted by the COVID-19 crisis and the mineral exploration and production industry in Canada too has been significantly affected. Provinces across Canada implemented various restrictions on operations in response to the pandemic. While mining operations were declared essential and therefore allowed to continue during the lockdown and restrictions, many miners in Canada curbed production, while a few suspended operations completely.

Canada’s mining industry is governed by different departments and agencies under provincial governments. However, in cases such as mineral activities on federal lands and offshore areas, as well as the usage of uranium as nuclear fuel (from exploration to the disposal of mine waste), a pivotal role is played by the federal government. The Canada Revenue Agency (CRA) governs the tax-related laws in the country. It also manages several socio-economic benefit programs such as incentive systems delivered through the tax system.

Which are the key active mines in the Canada gold mining market?

Some of the key active mines in the gold mining market in Canada are Canadian Malartic Mine, Detour Lake Project, Brucejack Project, Porcupine Mine, Meliadine Project, LaRonde Mine, Rainy River Gold Project, Hemlo Mine, Meadowbank Complex, and Eleonore Mine.

Canada gold mining market, by active mines

Canada gold mining market, by active mines

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Who are the major gold producers in the Canada gold mining market?

The major gold producers in the gold mining market in Canada are Agnico Eagle Mines, Kirkland Lake Gold, Newmont Corp., Pretium Resources New Gold Inc., and Yamana Gold.

Agnico Eagle Mines

Agnico-Eagle Mines Ltd (Agnico-Eagle) is a diversified metal mining company, headquartered in Toronto, Ontario, Canada. It carries out the exploration, development, and production of mineral properties. The company explores gold, silver, zinc, copper, and lead. The company’s operating mines in Canada include the Canadian Malartic, Meliadine, LaRonde, Meadowbank Complex, Hope Bay, Goldex, and LaRonde Zone 5 mines.

Kirkland Lake Gold

Kirkland Lake Gold Ltd (Kirkland) is a producer of gold, headquartered in Toronto, Ontario, Canada. It carries out the exploration, development, and production of gold properties. The company owns and operates four underground gold mines across Canada and Australia and an open-pit gold mine in Canada. In Canada, the company operates the Holt, Macassa, and Detour Lake mines. The company has operations in Canada and Australia.

Newmont Corp

Newmont Corp. (Newmont) is a gold mining and exploration company, headquartered in Denver, Colorado, the US. It also carries out the exploration, production, processing, and refining of silver, copper, zinc, lead, and molybdenum. The company operates open pit and underground mining assets in the US, Mexico, Canada, Ghana, Peru, Chile, Argentina, Dominican Republic, Suriname, and Australia. Its portfolio of mining assets in Canada includes the Porcupine, Musselwhite, Eleonore, and Borden Gold projects. It also has several gold reserves and acreage, which is at an exploration stage. The company, together with its subsidiaries, operates in the Americas, Europe, Asia-Pacific, and Africa.

Pretium Resources New Gold Inc

Pretium Resources Inc. (Pretium Resources) is a gold mining company in Vancouver, British Columbia, Canada. It offers the acquisition, exploration, and development of gold, silver, and copper properties. The company operates exploration projects such as the Brucejack Project and the Snowfield Project, located in north-western British Columbia. It conducts feasibility studies for outlined proven and probable mineral reserves in Brucejack’s Valley. Pretium Resources also conducts a grass-roots exploration program that comprised airborne EM, magnetic and radiometric surveys, surface drill program-targeted porphyry, and epithermal-style mineralization to the east of the Brucejack Mine.

New Gold Inc

New Gold Inc. (New Gold) is an intermediate gold mining company, headquartered in Toronto, Ontario, Canada. It acquires, develops, explores, and operates mineral properties. The company mines and produces gold, silver, and copper. It owns two mines in Canada such as the New Afton mine and Rainy River Gold projects. The company’s operating mines are in the US, Canada, and Mexico.

Canada gold mining market, by gold producers

Canada gold mining market, by gold producers

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Market Report Scope

Key active mines Canadian Malartic Mine, Detour Lake Project, Brucejack Project, Porcupine Mine, Meliadine Project, LaRonde Mine, Rainy River Gold Project, Hemlo Mine, Meadowbank Complex, and Eleonore Mine
Major gold producers Agnico Eagle Mines, Kirkland Lake Gold, Newmont Corp., Pretium Resources New Gold Inc., and Yamana Gold

 Scope

  • The report contains an overview of the Canada gold mining industry including key demand driving factors affecting the Canada gold mining industry.
  • It provides detailed information on reserves, reserves by country, production, competitive landscape, major operating mines, major exploration, and development projects.

Reasons to Buy

  • A comprehensive evaluation of the impact of COVID-19 on the Canadian gold industry
  • To gain an understanding of the Canadian gold mining industry, relevant driving factors
  • To understand historical and forecast trends in Canadian gold production
  • To identify key players in the Canadian gold mining industry
  • To identify major active, exploration and development projects in Canada

Key Players

Agnico Eagle Mines, Kirkland Lake Gold, Newmont Corp., Pretium Resources, New Gold Inc., Yamana Gold

Table of Contents

1. Executive Summary

2. Reserves, Production and Prices

2.1 Gold Reserves by Country

2.2 Gold Production

2.3 Company Production

2.4 Gold Prices

3. Gold Assets

3.1 Active Mines

3.2 Development Projects

3.3 Exploration Projects

4. Demand

5. Major Gold Producers

5.1 Agnico-Eagle Mines Ltd

5.2 Kirkland Lake Gold

5.3 Newmont Corp.

5.4 Pretium Resources Inc.

5.5 New Gold Inc.

6. Fiscal Regime

6.1 Mining Association of Canada

6.2 Laws and Regulations

– Canadian Environmental Protection Act, 1999

– Canadian Environmental Assessment Act, 2012

– Metal and Diamond Mining Effluent Regulations, 2002 (Fisheries Act)

– Department of Natural Resources Act, 1994

– Resources and Technical Surveys Act, 1985

– Species at Risk Act, 2002

– Transportation of Dangerous Goods Act, 1992

– Mineral Exploration Tax Credit (METC)

6.3 Leases and Licenses

– Alberta

– Coal leasing

– Metallic and Industrial Mineral Agreements

– British Columbia

– New Brunswick

– Nova Scotia

– Saskatchewan

6.4 Taxes and Royalties

– Corporate Income Tax (CIT)

– Sales Tax

– Withholding Tax

– Royalty Rate

7. Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Coverage

7.4 Secondary Research

7.5 Development Likelihood

List of Tables

Table 1: Gold reserves by country (thousand tonnes), January 2022

Table 2: Active mines in Canada by total ore reserves (million tonnes)

Table 3: Historical and forecast gold mine production (million ounces), 2006–2026

Table 4: Production by company (thousand ounces), 2019–2022

Table 5: World gold prices, quarterly (US$/tonne), 2014–2021

Table 6: Active mines, 2022

Table 7: Development projects, 2022

Table 8: Exploration projects, 2022

Table 9: Projects Count by Company and Stage, 2022

Table 10: Agnico-Eagle mines, major projects, 2022

Table 11:Kirkland Lake Gold, major projects, 2022

Table 12: Newmont Corp., major projects, 2022

Table 13: Pretium Resources Inc., major projects, 2022

Table 14: New Gold Inc., major projects, 2022

Table 15: Governing bodies and agencies by province/territory, 2021

Table 16: Key laws and regulations by province/territory, 2021

Table 17: Application fees for agreements, Alberta, 2021

Table 18: Fees for coal license, British Columbia, 2021

Table 19: Fees for coal lease, British Columbia, 2021

Table 20: Schedule of fees, New Brunswick, 2021

Table 21: Mineral exploration fees, Nova Scotia, 2021

Table 22: Corporate income tax rate (%) by province/territory, 2021

Table 23: Sales tax by province/territory, 2021

Table 24: Historical GST/HST rates by province/territory, 2008–2021

Table 25: Royalty Rates by province/territory, 2021

List of Figures

Figure 1: Gold reserves by country (thousand tonnes), 2017–2022

Figure 2: Gold reserves by country (%), January 2022

Figure 3: Historical and forecast gold mine production (million ounces), 2006–2026

Figure 4: Canada’s gold mine production (thousand ounces), 2020–2021

Figure 5: World gold prices, quarterly (US$/tonne), 2014–2021

Figure 6: Global gold demand by end use (%), 2010 and 2021

Figure 7: Gold demand by end use (tonnes), 2010–2021

Frequently Asked Questions

Some of the key active mines in the Canadian gold mining market are Canadian Malartic Mine, Detour Lake Project, Brucejack Project, Porcupine Mine, Meliadine Project, LaRonde Mine, Rainy River Gold Project, Hemlo Mine, Meadowbank Complex, and Eleonore Mine.

The major gold producers in the Canadian gold mining market are Agnico Eagle Mines, Kirkland Lake Gold, Newmont Corp., Pretium Resources New Gold Inc., and Yamana Gold.

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