The Global Powerhouse Country of the Mining Industry and the Dominant Players to Know
Canada, renowned for its vast landscapes and abundant natural resources, stands out as the premier destination for mining. Its formidable geology, mining-friendly policies, and environmental sustainability efforts coalesce to create a nurturing environment that bolsters this critical industry and, as it happens, create extreme wealth for those properly positioned.
Canada's immense landmass is teeming with mineral-rich territories, a veritable bounty for exploration and extraction. From the high-grade gold deposits in Quebec to the substantial diamond reserves in the Northwest Territories and the vibrant potash fields of Saskatchewan, Canada is a resource-rich haven that caters to diverse mineral demands. As companies mine these regions, Newfoundland is emerging as the nation’s latest hotbed of gold activity.
Regulatory structure is an element that places Canada atop the mining world. The country boasts a well-structured, transparent, and mining-friendly legal framework that guarantees property rights and fosters investor confidence. The predictability and stability of the regulations encourage both domestic and international mining investments.
Among the thriving mining corporations in Canada, some noteworthy names stand out, each located in different parts of the country.
In Quebec, Agnico Eagle Mines (NYSE: AEM)(TSX: AEM) has been a top-tier gold producer for over six decades, demonstrating the region's sustainability and the company’s commitment to responsible mining practices.
Northwest Territories (NT) is home to Arctic Canadian Diamond Company Ltd., which in March agreed to sell substantially all of its assets, including the Ekati Diamond Mine in NT, to Australia’s Burgundy Diamond Mines (ASX: BDM) for US$136 million. Canada was the third largest producer of diamonds in the world in 2019 and if Rio Tinto (NYSE: RIO) has anything to say about it, the nation will remain among the world’s leaders. In March, the company earmarked $40 million in its Diavik diamond mine for the first phase of underground mining at the existing open-pit operations at the A21 pipe. Diavik has been produced for 20 years.
Nutrien (NYSE: NTR)(TSX: NTR), headquartered in Saskatchewan, is the world's largest provider of crop inputs and services, backed by the province's abundant potash reserves. Nutrien’s operations reflect the symbiosis between mining and Canada's agricultural sector.
In Newfoundland, New Found Gold (NYSE-American: NFGC)(TSX-Venture: NFG) is arguably Canada’s most successful gold exploration play commanding a market capitalization of US$840 million. New Found Gold has discovered multiple high-grade gold zones with astonishing grades and widths in many drill holes, most recently including 27.05 m (88.75 feet) grading 105.32 grams per tonne Au (more than 3 oz/ton Au) at the newly-defined Iceberg Zone.
If New Found Gold can hit an Iceberg, so too can Gander Gold Corp. (CSE: GAND) (OTCQB: GANDF) which has established itself as the premier grassroots gold discovery opportunity in Newfoundland with a massive total land package of 2,259 sq. km (872 sq. miles) across eight major projects. New Found Gold’s discoveries are in the heart of the Gander Gold Belt, but Gander Gold dominates much of that belt and none of its projects have yet to be diamond-drilled.
Gander Gold has assembled a world-class team in an area shaping up to host more high-grade deposits after a multi-year discovery cycle started in 2021. The company’s portfolio was largely assembled by Shawn Ryan, arguably one of the most famous prospectors in Canadian history for his discovery of billion-dollar gold deposits.
With a mantra of “All Newfoundland, All the Time,” Gander Gold is currently very active on the ground and has reported a series of highly encouraging developments during the 2nd quarter of 2023.
After collecting a Newfoundland-best 39,000 soil samples to help augment a plethora of geological and geophysical data collected over the past two years, Gander Gold commenced a RAB (rotary air blast) drill program in May 2023 at its Gander North Project to prioritize targets for upcoming first-ever diamond drilling. Gander North in particular has caught the attention of Shawn Ryan.
“Gander North has progressed remarkably since I first staked this virgin ground two-and-a-half years ago ahead of the 2021 Newfoundland Gold Rush,” stated Ryan. “Textbook exploration methods have been applied at Gander North, creating the opportunity for the discovery of an entirely new gold trend on the island. We’re following the science. The data is very compelling, and the ultimate outcome could be a game-changer for Newfoundland gold exploration.”
Gold investors know all too well the path that NFG stock took, rising from $1.24 per share in August 2020 on the TSX-Venture to $13.50 per share by the summer of 2021. That certainly conjures thoughts about neighbors and who could share a similar fate with robust discoveries. Gander Gold stock is currently around 10 cents per share on the OTCQB, equating to a market cap of only US$9 million.
Against that backdrop, it is unsurprising that the buzz is getting louder about what the drill bit may unearth for Gander Gold as it aggressively drills high profile targets and further delineates mineralization across its expansive portfolio in Newfoundland, ranked the 4th most attractive jurisdiction in the world for mining investment according to the latest Annual Survey of Mining Companies by the Fraser Institute.
Gander Gold Corp. (CSE: GAND) (OTCQB: GANDF) Full Corporate Write-Up: Click Here.
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