Gold rush: The opening of several new mines will foster industry revenue growth

The Gold and Silver Ore Mining industry in Canada has experienced growth over the past five years, largely been driven by increasing production of gold, as gold prices have fallen slightly. While silver prices have fallen, the value of silver is substantially lower than gold and it accounts for a minor share of revenue. Over the next years, the industry is likely to continue to grow. While gold prices are forecast to fall slightly, several new gold mines will be beginning operations and domestic production of gold is forecast to continue to expand...read more.

Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 14-19
4.9%
Forecast Growth 19-24
Profit
Employment
14,137
Businesses
28

Industry Threats & Opportunities

  • Several new gold mines will be beginning operations and domestic production of gold is forecast to continue to expand
  • Operators must consistently invest in technology and safety improvements
  • Industry production volumes are expected to continue in line with historical trends
  • Industry Report - Industry Analysis Chapter

    The Gold and Silver Ore Mining industry in Canada comprises establishments primarily engaged in mining, beneficiating or otherwise preparing gold or silver ore that is valued for its precious metal content. Revenue for this industry is a function of gold and silver ore prices and production volumes over any given year, although because 95.0% of industry revenue is derived from gold and conditions in silver markets are less significant. Over the five years to 2019, the industry has performed well. While silver prices and production have both fallen, gold prices have been stable and production has expanded over the past five years. The net result has been strong revenue growth during the five-year period, due in large part to gold production growing 8.5% b...purchase to read more.

    Additional Insights for the Gold & Silver Ore Mining Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Gold & Silver Ore Mining Industry are

  • Ability to accommodate environmental requirements
  • Availability of resource
  • Ability to forward sell production when appropriate
  • IBISWorld analysts also discuss how external factors such as World price of gold and World price of silver in the Gold & Silver Ore Mining industry impact industry performance..

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    What's in this report

    What is the Gold & Silver Ore Mining Industry?

    This industry mines and prepares ores valued primarily for their gold or silver content. Some companies process ore into concentrate or bullion on-site, while others maintain refining facilities abroad. Companies in this industry can also store and delay the sale of their output to speculate commodity price fluctuations.

    Industry Products
  • Gold ore, powder, concentrates and unwrought forms
  • Silver ore, powder, concentrates and unwrought forms
  • Industry Activities
  • Gold ore mining
  • Silver ore mining
  • Gold ore beneficiation
  • Silver ore beneficiation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of gold
  • World price of silver
  • Consumer Confidence Index
  • Canadian effective exchange rate index
  • Demand from computer and electronic product manufacturing

  • Current Performance
  • Conditions in the gold market
  • Industry structure
  • Trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry production
  • Industry structure
  • Table: Gold & Silver Ore Mining Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Gold & Silver Ore Mining Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Jewellery Manufacturing in Canada
  • Commodity Dealing and Brokerage in Canada
  • Private Equity, Hedge Funds & Investment Vehicles in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Forklift & Conveyor Manufacturing in Canada
  • Geophysical Services in Canada
  • Investment Banking & Securities Dealing in Canada
  • Mining, Oil & Gas Machinery Manufacturing in Canada

  • Products & Services
  • Gold ore, powder, concentrates and unwrought forms
  • Silver ore, powder, concentrates and unwrought forms
  • Chart: Gold & Silver Ore Mining Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports
  • Jewellery manufacturing
  • Investment purposes
  • Technology
  • Central bank purchases
  • Chart: Major Market Segmentation for the Gold & Silver Ore Mining Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationRent, utilities and other
  • Chart: Cost Structure Benchmarking – Sector vs Gold & Silver Ore Mining

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Gold & Silver Ore Mining Industry

  • Industry Globalization
    Agnico Eagle Mines Ltd., Goldcorp Inc., Yamana Gold Inc.,
  • Table: Agnico Eagle Mines Ltd. - financial performance
  • Table: Goldcorp Inc. - financial performance
  • Table: Yamana Gold Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Gold & Silver Ore Mining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Gold & Silver Ore Mining Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • World price of gold (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bullion
  • Gold cast into ingots, coins or bars, typically with a purity of 99.9% gold, valued by its mass and purity
  • Concentrate
  • A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.
  • Dore
  • After being minted, this first stage in the purification process of the gold ore produces a cast bar (gold dore) that is about 90.0% gold
  • Troy Ounce
  • A unit of imperial measure most commonly used to gauge the weight of precious metals and defined as 0.0311034768 kg = 31.1034768 g
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Gold & Silver Ore Mining market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Gold & Silver Ore Mining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Gold & Silver Ore Mining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Gold & Silver Ore Mining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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