A recent report published shows that Canada’s mineral exports reached new highs in 2023, with gold production playing a leading role in the surge, according to a new report from the Mining Association of Canada (MAC). The report, The Mining Story – Canadian Mining Industry Facts and Figures, offers a detailed look at the performance of the country’s mining industry and outlines challenges and policy recommendations for the future. The total value of mineral production in Canada rose to C$71.9 billion in 2023, up from C$58.6 billion in 2021. The increase was largely driven by gold, which has become Canada’s second-largest export, surpassing even passenger vehicles. Rising global commodity prices have helped increase the value of gold exports, pushing overall mineral product exports to record levels.

The mining sector as a whole contributed C$117 billion to the national economy last year, accounting for 4% of Canada’s gross domestic product (GDP). When including oil and gas extraction, that contribution grows to 5.1%, a figure that has remained consistent over the past decade. Alberta’s mined oil sands are a major contributor to that stability.

Breaking down the numbers, extraction activities alone added C$54.8 billion to GDP. Mining services contributed C$8.6 billion, while primary metal and mineral manufacturing brought in C$21 billion. Downstream manufacturing of these materials added another C$32.4 billion. Canada remains a major global player in mineral production. The country leads in potash output, ranks second in the world for niobium and uranium production, and sits third for precious diamonds and palladium. The total value of mineral and metal production in Canada has quadrupled since 2000, reflecting long-term growth and sustained global demand.

MAC CEO Pierre Gratton pointed out that the sector’s performance is not only about short-term gains. “Despite some economic headwinds, mining has been a steady source of growth for the Canadian economy,” Gratton said. He noted the importance of securing critical minerals to meet broader economic and environmental goals, and said Canada could benefit significantly if it develops its existing mineral resources further. The report also highlights the link between mineral production and the future economy. It argues that a transition to a low-carbon economy will require more raw materials—especially those already produced in Canada. This includes minerals needed for clean energy technology and electric vehicles.

However, MAC warned that current regulatory structures could stand in the way. The report calls for more efficient investment and approval processes, including better coordination between federal and provincial authorities. “Action is especially important on coordination with provinces including enhanced use of substituted assessments—one project, one review,” the report says. Delays in regulatory approvals, it adds, can disrupt project momentum and reduce Canada’s ability to respond to international demand. Oil and gas exports also remained a key part of the national picture. These accounted for C$177 billion, or a quarter of Canada’s total exports. Canada was the third-largest crude oil exporter globally in 2022, responsible for 9% of worldwide exports. Crude oil production increased from 1.3 billion barrels in 2016 to 1.7 billion barrels in 2024. The proportion of that oil being exported has also risen, with 90% of Canadian crude now sent abroad, mostly to the United States.

The mining industry is also a major employer. In 2023, it provided high-quality jobs to 430,000 people, with another 281,000 working in related industries. That means one in every 28 Canadian workers is employed either directly or indirectly in mining. Indigenous employment continues to be a significant part of the sector, with over 12,000 Indigenous individuals employed last year. Looking ahead, the report notes a need for over 100,000 new workers in the next decade. The industry plans to continue recruiting Indigenous workers while focusing more on hiring women, young workers, and visible minorities. Increasing graduation rates in mining-related programs will also be critical to meet future workforce needs.

Gratton said the strong numbers shouldn’t create a false sense of security. He also noted that Canada’s mining sector is in a better position than many others to weather future economic difficulties, especially trade-related ones. But he cautioned that maintaining this advantage will require immediate action to attract new investment and accelerate project development. The MAC report ends by urging the federal government to move beyond commitments and focus on delivering results. Without streamlined regulations and a more efficient review system, Canada risks falling short of its potential in supplying the global market with critical minerals.

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