Here is great news about Canada’s mineral industry. Over half of the world’s mining companies trade their stock in this country, either on Toronto’s TSX or Calgary’s TSX Venture exchange. Moreover, 85% of the mining deals done last year were done in Canada.
The statistics come from the TORONTO STOCK EXCHANGE, and I read them in an article by columnist Andrew Willis published in yesterday’s GLOBE & MAIL (June 5).
Here are some more numbers from his article. Canada is home to the world’s largest uranium producer (CAMECO). The world’s second-largest gold (BARRICK), nickel (INCO) and aluminum (ALCAN) producers call this country home.
The value of mining stocks sold on Canadian exchanges in 2004 was US$2.4 billion, well ahead of second-place Australia (US$1.3 billion) and the fifth-place United States (US$500 million).
The numbers prove Canada is the best place to raise money for mining. The majors are finding investors for offerings as large as half-a-billion dollars. The juniors are discovering a few hundred thousand for drilling projects. And companies of every size in between are raising capital for all kinds of work: exploration, development, production and expansion.
As Willis wrote, "Canada rocks when it comes to mining."
I couldn’t have said it better myself.