Mineral exploration values

Highlights

Ontario is a world-class mining jurisdiction and is among the top 10 jurisdictions in the world for mineral exploration spending. Ontario is one of the leading producers of gold, copper, nickel and platinum group elements.

In 2023, gold was the most sought-after mineral in Ontario, with exploration spending of $599 million totaling 63% of the province’s total exploration spending.

Exploration spending in 2023

LocationExploration spending ($ million)Percentage (%)
Off mine site66970
On mine site28330
Total952100

Exploration spending by mineral, including critical minerals

Ontario is well-positioned to be a global supplier of critical minerals with our vast supply of minerals, processing capabilities and world-class mining supply and services sector.

MineralExploration spending ($ million)Percentage (%)
Gold59963
Base metalsfootnote 123925
Other critical minerals (PGE, LiCo, etc.footnote 211012
Other non-critical minerals (Ag, Fe, diamond, etc.footnote 35>1
Total952100

Note: data was aggregated to preserve confidentiality, numbers may not add up due to rounding.

Source: Natural Resources Canada

Mining lands activity

As of December 31, 2023, there were more than 380,000 active mining claims in Ontario.

You can acquire and register mining claims, obtain or renew a prospector’s licence and maintain your mining lands online 24/7 through the Mining Lands Administration System (MLAS).

World’s largest mining capital market: TSX & TSX-V

Toronto, Ontario is the mining finance capital of the world.

The Toronto Stock Exchange (TSX) and Toronto Venture Exchange (TSX-V) list more mining companies than any other exchange with over 1,100 listed in 2023. The Toronto Stock Exchange and Toronto Venture Exchange are first among exchanges worldwide in equity capital raised and are home to about 40% of the public mining companies in the world.

Mineral production values

Highlights

Ontario is one of Canada’s top mineral producers, generating $15.7 billion worth of minerals in 2023 – representing 26% of Canada’s total mineral production value.

Gold production in Ontario

Valued at $6.5 billion, Ontario mines produced 2.8 million troy ounces of gold shipments in 2023.

Gold production in Canada

In 2023, 43% of Canada’s total gold production value came from Ontario.

Critical mineral production and exploration

Chromite

The Ring of Fire, in the Far North of Ontario, has the second largest chromite deposit globally in terms of tonnes of ore resources.

Cobalt

In 2023, Ontario produced an estimated 1,700 tonnes of by-product cobalt shipments worth approximately $162 million. This makes up 56% of Canada’s cobalt production.

Copper

Copper produced in Ontario in 2023 totaled 43% of Canada’s copper production by value, with 221,803 tonnes of shipments valued at $2,226 million.

Graphite

Ontario has several active graphite exploration programs.

Lithium

Ontario has several hard-rock lithium deposits that are being actively explored in the hopes of eventually supplying raw materials for electric vehicle batteries.

Nickel

In 2023, Ontario produced 62,501 tonnes of nickel shipments valued at $2,547 million (59% of Canada’s nickel production by value).

Platinum Group Elements (PGE)

In 2023, Ontario produced 81% of Canada’s PGE footnote 2 production by value, with an estimated 532, 055 troy ounces of PGE shipments valued at $1,270 million.

Vanadium

Ontario has vanadium exploration potential in Southeastern Ontario.

Chromite

Highlights

Chromite is the major ore mineral of chromium.

Chromium is the stainless in stainless steel and is used in many manufacturing processes because of its resistance to rust, shiny appearance and very high melting point.

Current estimates suggest the Ring of Fire has multi-generational potential of chromite production and significant potential production of nickel, copper and platinum.

Map of chromite occurrences in Ontario

Image
LocationName
1Blackbird 1 and 2
2Black Horse
3Big Daddy Chromite
4Black Creek
5Black Thor
6Black Label
7Chrome Lake 

Cobalt

Highlights

An estimated 1,700 tonnes of by-product cobalt shipments worth $162 million were produced in Ontario in 2023. This represents 56% of Canada’s cobalt production by value.

118,527 tonnes of cobalt shipments have been produced in Ontario between 1904 and 2023.

Cobalt is a critical element in lithium-ion batteries and other clean technologies. Demand for this strategic commodity is expected to increase in the coming years as the market for electric vehicles grows.

The town of Cobalt, Ontario, known for its significant historical silver and cobalt production, is a national heritage site and is considered the birthplace of Canadian hard-rock mining.

Map of cobalt occurrences in Ontario

Image
Location numberName
1Werner Lake Cobalt
2Nicobat Project
3Steepledge Lake
4VW & B4-7 Deposit
5Norton Lake Cu-Ni-PGE Deposit
6Hollinger Zone
7Dundonald South Deposit
8Edison
9Northland Pyrites Mine
10Lockerby Mine
CCobalt-Gowganda Camp
LLac des Iles
MMontcalm Mine
RRedstone and McWatters Mines
SSudbury
SMShebandowan Inco Mine

Gold

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Highlights

Gold is the most sought-after mineral in Ontario, topping the charts with exploration spending of $599 million or 63% of the province’s total exploration spending in 2023.

In 2023, 2.8 million troy ounces of gold shipments valued at $6.5 billion were produced in Ontario totaling 43% of Canada’s gold production by value.

Ontario is home to 17 producing gold mines and 12 significant gold exploration projects.

With more than 30 mineral deposits each having more than 500,000 troy ounces of gold (measured and indicated resources inclusive of reserves) located in traditional camps and beyond, Ontario has plenty of resources for the future.

Map of gold occurrences in Ontario

Image

Graphite

Highlights

Ontario has several advanced exploration projects and active graphite exploration programs.

The Black Donald Mine, located approximately 100 kilometres southwest of Ottawa, produced 77,000 tonnes of graphite between 1896 and 1954 which is approximately 75% of Ontario’s graphite production to date.

Graphite has been used traditionally in high-temperature lubricants, electrical motors and batteries. New uses are being discovered for graphite including lithium-ion batteries, solar power and electric vehicles.

Demand for this strategic commodity is expected to increase as the market for batteries to power electric vehicles and other clean technologies grows.

Map of graphite occurrences in Ontario

Image
Map NumberName
1Albany Graphite Deposit
2Kearney Graphite Mine
3Bissett Creek Graphite Project
4National Graphite Ltd.
5Beidelman and Lyall Property
6Black Donald Mine
7Meadow Lake Zone
8Stewart Lake
9N. A. Timmins Mine
10Globe Graphite Mine
11Portland Graphite

Lithium

Highlights

Lithium is found in most battery-operated items, such as smartphones, portable computers and electric vehicles.

Lithium is also used in glass and ceramics to increase strength and durability, especially at high temperatures.

Demand for this strategic commodity is expected to increase in the coming years as the market for batteries that power electric vehicles and other clean technologies grows.

Ontario has hard-rock lithium deposits that are being explored actively.

Map of lithium occurrences in Ontario

Image
Map numberName
1Big Mack and Separation Rapids
2PAK and Spark Pegmatite
3Mavis Lake
4Wisa Lake North Zone
5International Lithium
6Raleigh Lake
7Root Bay and McCombe
8Rubellite and Pollucite
9 North and South Aubry
10 Georgia Lake area pegmatites

Nickel, copper, platinum group elements (Ni-Cu-PGE)

Nickel (Ni)

In 2023, 62,501 tonnes of nickel shipments valued at $2,547 million were produced in Ontario, totaling 59% of Canada’s nickel production by value.

Nickel is an important metal used in the manufacturing of stainless steel, high-strength alloys, aerospace components and construction materials.

Copper (Cu)

Copper produced in Ontario in 2023 totaled 221,803 tonnes of shipments valued at $2,226 million, amounting to 43% of Canada’s copper production by value. 

The average home contains approximately 181.4 kilograms of copper that is used for electrical wiring, pipes and appliances.

Platinum Group Elements (PGE)

PGE include platinum (Pt), palladium (Pd), rhodium (Rh), ruthenium (Ru), iridium (Ir) and osmium (Os).

In 2023, 532,055 troy ounces of PGE shipments valued at $1,270 million were produced in Ontario, totaling 81% of Canada’s PGE production by value.

Platinum and palladium are essential elements in the production of catalytic converters, medical and dental equipment, as well as jewelry.

Map of nickel, copper, platinum group elements occurrences in Ontario

Image
LocationName
1Gordon Lake Mine
2Thierry Mine
3Shebandowan (INCO Mine)
4Lac des Iles Mine
5Montcalm Mine
6Redstone Mine
7Texmont Mine
8Alexo Mine
9McWatters Mine
10Langmuir Mine
11Temagami Copper Mine
12Kanichee Mine
13Keeley-Frontier Mine
SSudbury Camp

Vanadium

Highlights

Vanadium is used in the production of steel to add strength and heat resistance. Approximately 80% of all vanadium produced goes into making steel. Ontario has hard-rock vanadium deposits that are being actively explored.

Demand for this strategic commodity is expected to increase in the coming years. This is due to the market growth for liquid vanadium redox-flow batteries that can store large amounts of power generated by solar and wind farms and other clean technologies.

Map of vanadium occurrences in Ontario

Image
LocationName
1Brazeau Prospect
2Titan Property

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