The metal ores mining sector in Canada showed significant variability from 2013 to 2023. Starting at 14.85 billion CAD in 2013, the sector experienced fluctuating growth and declines, dropping to a low of 13.46 billion CAD in 2015 but rebounding to 19.96 billion CAD in 2023. This represents a year-on-year increase of 1.58% for the most recent year and a compound annual growth rate (CAGR) of 4.31% over the past five years.
Future forecast data project the sector to continue growing modestly, reaching 21.45 billion CAD by 2028 with a forecasted 5-year CAGR of 1.15%. Key trends to watch include technological advancements in mining operations, global demand for metals, and evolving regulatory policies, which could impact growth rates and sector stability.
Key historical trends:
- Notable growth in 2017 (14.3%) and 2019 (14.45%).
- Significant year-on-year increase in 2020 (11.62%) but a drop in 2021 (-6.37%).
Future trends to watch:
- Technological advancements in mining operations.
- Global demand for metals.
- Evolving regulatory policies impacting the mining sector.
