M&A activity defined the mining industry in 2019, and its impacts were felt acutely in Ontario, as a remarkable transfer of assets saw operations controlled by Goldcorp, Tahoe Resources, North American Palladium and Detour Gold move into the hands of Newmont, Evolution Mining, Pan American Silver, Impala Canada and Kirkland Lake Gold.
While producers have been making hay while the sun is shining, spurred on by gold at a 7-year high, the junior exploration community has languished with a dearth of financing available despite the cannabis and crypto booms subsiding. However, the likes of Great Bear Resources and Wallbridge Mining have shown that the best projects can still attract substantial investment and trade at eye-catching multiples. The need to replace reserves is becoming more pressing and the global demand for metals has yet to diminish, so, for the mining-savvy investor, this is an opportune time to capitalize on high-upside, undervalued assets.
In this edition of our Industry Explorations series, Global Business Reports pays special attention to Toronto's influence across the full value chain, from its financial institutions on Bay Street, the mining producers and juniors headquartered in the city with operations across the globe, to its innovation-led service sector.