Canada’s largest mining companies played a prominent role in the sector’s emerging global recovery that began in 2016. Canadian companies’ rising valuations kept pace with those of their international counterparts, and six Canadian-based miners made the global Top 40 as their aggregate market valuation soared by 46% last year.
In addition, four Canadian-based companies ranked among the five largest metal streaming/royalty businesses in the world, putting Canada at the forefront of alternative financing. These financial innovators were recently trading at an average price-to-net-asset value of 1.3x, compared with a value of 1.0x for members of the Top 40.
— Maxime Guilbault, Senior Manager, Assurance, Mining
Canada also led the way on equity financing in 2016, with the Toronto Stock Exchange (TSX) and TSX Venture Exchange responsible for 57% of global financings during the year, according to the TMX Group and S&P Global Market Intelligence.
Canada continues to be a leading destination for mining in the world, both in terms of raising capital and exploration, continuing to play a part in many of the major future global mining projects. This continued investment allows Canada to continue to attract a strong talent pool of people connected to the industry, from finance professionals in the many head offices located in Canada, to the geologists monitoring drill holes in the northern territories, giving us momentum that ensures Canada is a strong participant in a strengthening industry.
Partner and Mining Leader for Quebec, PwC Canada
Tel: +1 514 205 5448