Canada is a land famous for many things, such as ice hockey, maple syrup, and its people’s extreme politeness. The list is endless—one wouldn’t be able to enumerate everything the country is recognized for. However, if there’s one thing that more people should pay more attention to, it would be the Canadian gold sector!
Gold is beautiful, making it an extremely valued metal ever since its discovery many years ago. Due to its extreme ductility, resistance to corrosion and scarcity, it has become one of the most wanted substances on the planet, creating earning opportunities for countries with rich sources of gold. When it comes to taking advantage of gold, Canada is one of the countries that have done just that!
Glittering Gold in the Great White North
As one of the world’s top mining nations, Canada has a thriving and blossoming gold sector. With the country ranking among the five leading global producers for gold and other minerals such as cadmium, cobalt, nickel, and potash, it makes perfect sense for the total mineral production to have reached C$48.2 billion in 2019.
The gold excitement of the early 1900s led to the establishment of major gold-mining camps in Ontario, such as Porcupine, Kirkland Lake, and Red Lake. Later on, gold was discovered around locations in Québec, namely Bourlamaque, Val d’Or, and Malartic.
Indeed, Canada is a country rich in gold! However, although Ontario and Québec are most known as the key mineral exploration jurisdictions within the country and account for more than 75% of mined gold production in 2019, Atlantic Canada’s Newfoundland shows promise of growing the metals sector.
The Gold Rush in Newfoundland
Unknown to many, Eastern Canada has an extensive mining history dating back to the 1770s. Of course, you can’t forget about the Abitibi greenstone belt spanning across the border between Ontario and Quebec, but overlooking Newfoundland’s world-class geology, impressive infrastructure, and access to a skilled workforce will lead to lost opportunities!
With the surge in gold prices, several exploration companies have realized the potential of Newfoundland for mining activities. As one of the largest and oldest industries in the province, it contributes more than 7,000 jobs to its residents. To ensure sustainable employment, the governments implemented a development plan in cooperation with exploration companies.
The provincial government’s contribution of C$2.3 billion in capital investments has proven to be worth it, seeing as Newfoundland and Labrador ranked among the top ten mining jurisdictions in the world last year.
There is gold in Newfoundland’s hills—all it takes is a large discovery to change everything. As one of the leading global mining jurisdictions, it would take no time to determine whether investing in the local gold sector is a smart move or not!
Newfoundland is now a hotspot for mineral exploration thanks to the recent discoveries of high-grade gold and the favourable gold commodity market. With more investors and companies looking for precious metals exposure, you have to grab the opportunity as you see it if you want to take advantage of the potential.
If you want to work on advancing mineral projects in Canada’s Newfoundland, join our alliance of companies in Newfoundland.Gold! Our industry leaders are committed to bringing awareness to an exciting and supportive jurisdiction while generating shareholder value through responsible and innovative exploration and development. Connect with us today to learn more!