$18.7bn
$X.Xbn
15,868
103
$X.Xbn
Revenue for miners exhibited significant bumps in revenue, mainly because of potash production. Canada is the world's largest producer and exporter of potash, a primary input for fertilizer manufacturers worldwide. Potash prices spiked in 2022 because of the Russia-Ukraine conflict, which placed sanctions on the country, weakening the global supply of potash. This allowed domestic potash miners to thrive as revenue nearly doubled. While prices crept downward as supply chains stabilized, they remained elevated. Overall, revenue is set to expand at a CAGR of 8.1%, reaching $18.7 billion, including a 4.3% bump in 2024. Even so, profit has taken a slight downturn as purchase costs swelled as the price of inputs on equipment surged.
Industry revenue has grown at a CAGR of 8.1 % over the past five years, to reach an estimated $18.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Nutrien | 702.1 | 88.7 | 12.6 | |
The Mosaic Company | 253.6 | 27.9 | 11.0 | |
De Beers Group | 71.2 | 3.2 | 4.5 |
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Industry revenue is measured across several distinct product and services lines, including Potash, Diamonds and Rock salt. Potash is the largest segment of the Mineral & Phosphate Mining in Canada.
Potash continues to dominate the bunch
This industry primarily engages in the mining of nonmetals, such as minerals and phosphate. It doesn't include coal, stone, sand, gravel, clay and ceramic mines.
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NAICS 21239 - Mineral & Phosphate Mining in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wages have slowly dipped as a portion of revenue. Miners have implemented cost-saving technologies like automation to cut down wages.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Mineral & Phosphate Mining industry in Canada is $18.7bn in 2024.
There are 103 businesses in the Mineral & Phosphate Mining industry in Canada, which has grown at a CAGR of 3.4 % between 2019 and 2024.
The market size of the Mineral & Phosphate Mining industry in Canada has been growing at a CAGR of 8.1 % between 2019 and 2024.
Over the next five years, the Mineral & Phosphate Mining industry in Canada is expected to grow.
The biggest companies operating in the Mineral & Phosphate Mining market in Canada are Nutrien, The Mosaic Company and De Beers Group
Diamond mining and Mining of other minerals, including potassium salt, phosphate rock and gypsum are part of the Mineral & Phosphate Mining industry.
The company holding the most market share in Canada is Nutrien.
The level of competition is moderate and steady in the Mineral & Phosphate Mining industry in Canada.