The U.S. is Canada’s biggest consumer of mineral resources
Ontario’s resource sector, now on the front lines of a trade war with America, is a significant engine of growth for the province and Canada.
The Ontario Mining Association, together with the Ontario Ministry of Mines, said that its provincial mining industry is an economic powerhouse, contributing $23.8 billion to GDP, supporting 150,000 jobs, and driving $64 billion in exports—over a quarter of the province’s total exports in 2023.
The latest Ontario Mining Sector report noted that the U.S. is Ontario’s biggest consumer of the province’s mineral resources, with provincial exports totaling $42 billion, including $5.7 billion from critical minerals such as platinum group metals, nickel, copper, uranium, and zinc.
The report pointed out that 57% of all Ontario’s critical mineral exports went to the United States. At the same time, Ontario imported $77 billion in minerals and metals, including $41 billion from the U.S.
The report noted that with 18 gold mines, Ontario is Canada’s largest producer of gold, a key input in modern manufacturing and a vital hedge against inflation and economic uncertainty. The province also has nine active critical mineral mines and 10 processing facilities, supplying advanced materials for industries such as health diagnostics, aerospace, and defense.
“Ontario’s mining sector is a cornerstone of our technology-driven economy, delivering well-paying jobs, producing essential inputs for North America’s manufacturing supply chain, and playing a vital role in our continental security. Industry partnerships with Indigenous communities, advancing their economic development, and our safety and environmental practices can be a model for the world,” said Priya Tandon, President of the Ontario Mining Association, in a prepared statement.
However, while the mining sector is a powerful engine of growth, Tandon also noted that it needs to be supported. She said that to solidify the sector, mining needs to be declared a strategic priority.
