Canada’s mining industry is showing signs of a robust revival, driven by rising commodity prices and renewed capital inflows, according to industry expert Blake McLaughlin from Axcap Ventures.
In a recent interview with NowMedia video host Jim Csek, McLaughlin highlighted the optimistic outlook for the sector after a rough run over the past decade.
However, McLaughlin said capital return has been rising over the past six months.
“Now we're starting to see these smaller but reasonable size financings happening, which is a great spot to start” he said.
“We see boots on the ground where the assay labs are backed up and two to three weeks behind schedule. That's always a good sign for the mining industry. It means drill bits are in the ground, we're pulling core or chip samples out, and really that's how we create value.”
McLaughlin emphasized Canada’s status as a “commodity superpower,” with high-quality mining jurisdictions and a strong regulatory framework.
The benefits of a reviving industry are also being seen in British Columbia.
McLaughlin pointed to recent successes like Artemis Gold’s Blackwater project, which went from a $5 stock to $25 by effectively executing its plan, as a model for the industry.
Major miners like Agnico Eagle are also reporting record cash flows, with Q2 figures reaching $1.3 billion, fuelled by the currently high prices of gold, he added.
Despite challenges like lengthy permitting processes and past capital shortages, McLaughlin sees opportunities in government support for critical minerals.
“It's the first time in my career that we've had the federal government both in Canada and in the US saying we need to build mines domestically,” he said.
Axcap Ventures' gold projects in British Columbia, Nevada, and Wyoming are advancing, with BC benefiting from favourable flow-through financing, McLaughlin said.
McLaughlin stressed the importance of stakeholder engagement to streamline development.
“There’s different stakeholders on every project. They all want to be heard and want to be involved and that's a reasonable ask, right,” he noted. “So, as long as we're making sure that all of our stakeholders are being involved, then we feel like we're really doing justice to the assets.”
With global consolidation in the sector and increasing interest in domestic mining, Canada’s resource-rich landscape is set to play a pivotal role in the economy, he added.
