Northwestern Ontario is The Next Mining Powerhouse
Thunder Bay is the service and supply hub for Northwestern Ontario, supporting a flourishing regional mining industry comprising 9 active mines and over 18 major exploration projects. This robust sector is supported by a network of more than 400 local mine service and supply companies. Recent discoveries have sparked heightened interest in exploration and mining throughout Northwestern Ontario, leading to intensified activities in gold, palladium, and lithium extraction.
Thunder Bay’s economy is both diverse and modern, anchored by abundant natural resources, innovative SMEs, and state-of-the-art research capabilities. Ongoing research and innovation initiatives are breathing new life into traditional natural resource sectors, contributing to the region’s dynamic economic landscape.
Why Thunder Bay
Local procurement policies and a robust network of Mining Supply and Service companies in Thunder Bay allows companies to reduce wait times and potential delays. Attraction of specialized services to complement existing mine service & supply is a key priority at the Thunder Bay CEDC.
Get connected with our local service & supply companies
Connect with our Business Development Team
Lucy Kwiaton
Business Development Manager
Tel: (807) 633-2566
Email: Lucy.Kwiaton@thunderbay.ca
Mike Barten
Sr. Business Development Officer
Tel: (807) 630-4468
Email: mike.barten@thunderbay.ca
Opportunities for Development
Electrical Equipment Supply and Service
Fixed Maintenance
Bulk Handling Equipment
Training
Mobile Mining Equipment
Parts and Components
Gold Leads the Charge in Northwestern Ontario: Mining and Exploration Developments in Q1
Northwestern Ontario gold production at year-end 2024 was 1.05 million ounces. Contributing mines to the total include: Red Lake Mine (Evolution Mining), Musselwhite Mine (Orla Mining), Hemlo Mine (Barrick Gold), Rainy River Mine (New Gold), Eagle River Mine (Wesdome Gold Mines), Island Gold Complex (Alamos Gold) and Greenstone Mine (Equinox Gold). With the yellow metal touching on $3000/oz, that has ratcheted up the level of optimism in the sector for projects at a variety of maturity levels.
Mining Readiness Strategy Evolution –2011 to 2024 and Beyond!
The Thunder Bay Community Economic Development Commission and City of Thunder Bay leadership in 2011/12 forecast significant growth in mineral exploration and mine development for Thunder Bay and Northwestern Ontario. It was felt that the discovery of gold, nickel and chromite would fuel a variety of business opportunities positively influencing the region’s economic outlook. In addition, new mine development would place pressure on infrastructure and government services.
In a calculated response a Mining Readiness Strategy (MRS) was undertaken. It is a comprehensive, inclusive and integrated development plan, designed for Thunder Bay and Northwestern Ontario to capitalize on ten emerging or expanding mining development projects.
Golden Future: Appetite for Gold is Good News for Northwestern Ontario!
As the gold bull market roars, Randy Smallwood, Past Chair of the World Gold Council and President of Wheaton Precious Metals said “ this is an infectious time for the yellow metal (globally)! “
In 12 months the gold price in US dollars has increased to rarefied air levels with a $1100/oz increase in price, taking gold to the $2800/oz range. This steady rise has been fueled by a combination of strong demand from retail investors in India and China, nervous central banks concerned about record global debts and a weakening US dollar, and excess global liquidity seeking safe harbour at a time of record stock market valuations, slowing growth, and persistent inflation.
Be prepared Thunder Bay : Opportunities in the Mineral Sector Exist!
Thunder Bay and region are more fully embracing the mining industry as a key economic driver, “joining the boom”. The industry currently provides 1000+ direct jobs for Thunder Bay residents at mines, and over 1000 Thunder Bay based exploration and mine service and supply jobs, via 400 engaged businesses. It should be clarified that mining industry is actually a mining sequence consisting of acquisition, mineral exploration, development, construction, mine production and closure. Opportunity to address gaps for economic benefit and drive business is tied to each piece of that sequence.
Mining Service & Supply Spotlight
The Mine Service and Supply Spotlight is focused on sharing your expertise, feedback, and testimonials of your experiences in the Mining and Exploration industry.
If you are a local service or supply company in the mining industry we want to put you in the spotlight.
