If you’ve consistently been following along to what’s been going on in the Canadian mining industry, then you may already be aware of the fact that 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 must be doing something right.
Even though it’s appeared to be a rough couple of years for the global mining industry, as commodity prices continue to sag, investments are down, and projects are being stalled, some companies seem to still be turning a profit.
What are these companies doing differently and how have they managed to stay in the top spots for two years in a row? Even more so, will they find themselves in the same places next year?
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.
Only time will tell if these five Canadian mines will be able to hold off their competition and rank again next year. Of course, many factors will be considered, including time, the economy and resources. Stay tuned—in this industry, anything is possible!
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[SOURCE: Canadian Mining Journal]