From 2013 to 2023, the output of the metal ores mining industry in Canada demonstrated a distinct growth trend. The sector's value saw an increase from 23.43 billion CAD in 2013 to 34.65 billion CAD in 2023. Particularly notable periods of growth were noted from 2017 to 2019, with year-on-year variations reaching as high as 12.88% in 2019. Over the last two years (2022-2023), the industry experienced moderate growth with annual increases just over 2%. The compound annual growth rate (CAGR) over the past five years was 5.18%.
Looking ahead, the forecasted data indicates a steady increase in output value, ascending from 35.35 billion CAD in 2024 to 38.08 billion CAD in 2028. The projected CAGR for the next five years stands at 1.5%, signaling a modest yet consistent upward trend. Future trends to watch include the potential impact of advanced mining technologies, sustainability practices, and global demand fluctuations on the Canadian metal ores mining industry.
