2025 was a year of change for Ontario’s mining industry. Canada’s evolving international relationships heightened the focus on economic sovereignty, while federal and provincial elections brought critical minerals to the forefront of policy discussions. The provincial government’s ‘One Project, One Process’ framework aims to reduce permitting delays, as critical mineral prices show early signs of recovery from a prolonged weak cycle.

For the first time, mining companies on the TSX and TSXV exceeded a combined market capitalization of C$1 trillion, cementing Toronto’s status as a global hub for mining finance. Strong precious-metal prices sparked a boom in the province’s gold exploration sector, yet producers remained disciplined despite high margins.

The year also witnessed AI’s graduation into the mainstream, as operators increasingly deployed automated solutions to improve safety and efficiency. As operations become more complex, service providers are engaging earlier in project design, uncovering opportunities in areas such as tailings reclamation, where innovative solutions can be integrated from the outset.

Based on more than 50 interviews with leaders from Thunder Bay to St. Catharines, the Ontario Mining and Toronto’s Finance Hub 2026 pre-release edition demonstrates how the industry navigated these challenges and opportunities, underscoring that resilience remains key to long-term growth.