Canada Mining Report

Providing expert analysis, independent forecasts and competitive intelligence on the mining.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Petrochemicals Risk Reward Index, Economic Forecasts, Company Profiles and Global, Regional and Country Industry Overviews.

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  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
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Canada Mining Report
Product Price
$1,295.00

BMI View: Canada's mining sector will experience slow growth due to continued mineral price weakness . The country will remain a mining powerhouse , due to the country's vast mineral reserves and reputation as a world class destination for mining investment.

Canada Mining Industry Value Forecast (2014-2019)
2014e 2015f 2016f 2017f 2018f 2019f
Note: See Industry Forecasts for specific commodity growth forecasts. e/f= BMI forecast. Source: BMI Calculation, Statistics Canada
Mining Industry Value, USDbn 27.06 27.20 27.74 28.57 29.29 30.46
Mining Industry Value, USDbn, % y-o-y 0.25 0.50 2.00 3.00 2.50 4.00

Latest Updates And Structural Trends

  • Canada, a leading country in the mineral extractive industry, will see modest growth over the coming years. We forecast Canada's mining industry value growth to average 2.4% y-o-y over 2015-2019, increasing from USD27.2bn in 2015 to USD30.5bn by 2019. This is significantly slower than the average annual growth of 15.2% over 2010-2014, with mining industry value peaking at USD34.4bn in 2011.

  • Major themes across the country's mining industry include slow growth, lack of new projects, and cost-cutting efforts. Canada's nickel sector will be the sector's production growth bright spot, averaging 2.7% y-o-y growth over 2015-20109. Nickel's relative outperformance will be supported by a stronger recovery in prices.

  • Weak mineral prices and the recent downturn in major global commodities importers, such as China and India, resulted in slowing production growth across Canada's extractive sector, including gold, iron ore, nickel and zinc. The higher start-up and operation costs of Canadian mining projects compared to other regions such as Latin America has led some multinationals to scale back or even defer projects, in some cases, also reducing capacity at exiting operations. Meanwhile, a number of junior miners have been forced to cease operations altogether amid falling profitability.

  • Canada's mining sector remains a key destination for foreign direct investment, which has included the growing presence of Asian and emerging market mining groups. Moreover, there has been a push to develop the country's mining landscape beyond tradition centres of mining activity to relatively untapped regions closer to the Arctic Circle. This has coincided with a rise in transactional activity as major firms such as Rio Tinto, Arcelor Mittal and Vale have sought to gain a steady foothold in the market through investing in local mining groups.

BMI Industry View
7
Table: Canada Mining Industry Value Forecast (2014-2019)
7
Latest Updates And Structural Trends
7
SWOT
8
Industry Forecast
10
Gold: Weak Prices Weigh On Output Growth
10
Table: Gold Production Forecast (Canada 2014-2019)
10
Table: Major Gold Projects
10
Structural Trends
12
Iron Ore: Muted Growth Ahead
15
Table: Iron Ore Production Forecast (Canada 2014-2019)
15
Table: Canada - Major New Iron Ore Projects & Expansions
15
Structural Trends
16
Nickel: Production To Ramp Up In 2016
18
Table: Nickel Production Forecast (Canada 2014-2019)
18
Table: Canada - Select Nickel Projects
18
Structural Trends
19
Indonesian Ban Boosts Canadian Exports
20
Zinc: No Return To Historical Production Highs
21
Table: Zinc Production Forecast (Canada 2014-2019)
21
Table: Canada - Major New Zinc Projects & Expansions
21
Structural Trends
22
Industry Risk Reward Ratings
24
Canada Risk/Reward Index
24
Rewards
24
Industry Rewards
24
Country Rewards
24
Risks
24
Industry Risks
24
Country Risks
25
Americas - Major Risks Across The Board
25
Regional Risks Increase Modestly
25
Weak Prices To Hurt, While Stronger Dollar A Net Gain
26
Table: Americas - Mining Risk/Reward Index
27
Regulatory Development
28
Commodities Forecast
32
Commodities Outlook
32
Table: BMI Commodities Price Forecasts
32
Competitive Landscape
33
Table: Canada - Select Companies, Financial Data, 2014
34
Company Profile
35
Canada - Company Profile - Goldcorp - Q1 2016
35
Table: Goldcorp - Key Financial Data
38
Barrick Gold - Q1 2016
39
Company Strategy
40
Latest Results
41
Financial Data
41
Table: Barrick - Key Financial Data
41
Address Details
42
Canada - Company Profile - Teck Resources - Q1 2016
43
Table: Teck - Key Financial Data
46
Regional Overview
47
Americas Mining: The Three Key Themes
47
Key Themes:
47
Regulatory Environment To Remain Mining Friendly
47
US Dollar Strength And Low Fuel Prices To Incentivise Output
48
Latin American Output To Eclipse The North
49
Methodology
51
Industry Forecast Methodology
51
Sources
52
Risk/Reward Index Methodology
53
Table: Weighting Of Indicators
54

The Canada Mining Report has been researched at source and features BMI Research's mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Canada Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in Canada.

Key Benefits

  • Use BMI's independent industry forecasts on Canada to test other views - a key input for successful budgeting and planning in this mining market.
  • Target business opportunities and risks in Canada's mining sector through our reviews of latest mining industry trends, regulatory changes and major deals, projects and investments in Canada.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity), Key Projects Tables and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the mining sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2009-2013) and forecasts to end-2019 for key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Mining industry: Industry size (USDmn), real growth (%), % of GDP, employment (‘000), workforce as % of total workforce, average wage (USD).
  • Output: Production volumes (‘000 tonnes, carats etc.) for all major metals, minerals, ores and gems mined in each state, including bauxite, copper, gold, coal, lead, silver, tin, titanium, uranium, zinc etc.
  • Exports: Value of exports (USDmn) for all major metals, minerals, ores and gems mined in each state.
  • Commodity markets: Global demand, supply, stocks and benchmark prices (USD) for aluminium, copper, lead, nickel, tin, zinc, gold and steel.

BMI’s Mining Risk Reward Index

BMI’s Risk Reward Indices provide investors (mining companies and support service providers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Competitive Landscape Tables & Analysis

Comparative company analyses and tables detailing USD sales, % share of total sales, number of employees, year established, market cap/NAV, ownership structure, production and % market share.

Key Projects

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by metal/ore.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Sources

The Mining reports are based on an extensive network of primary sources, such as multilateral organisations (UN, WB, IMF), national chambers of commerce and industry, national statistical offices, government ministries and central banks, and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.