Olympic gold, silver and bronze

Canadian athletes will soon be competing in the 2024 Paris Summer Olympics. During the last Summer Olympics in Tokyo, Canada had its best showing since the 1992 games in Barcelona, placing 11th overall with 7 gold medals, 7 silver and 10 bronze.

Canada also ranks highly when it comes to producing the minerals needed to make Olympic medals.

Canada ranks fourth globally in gold production

Canada was the fourth-largest gold producer in the world in 2022, the most recent year for which global data are available.

In 2023, Canadian gold production is estimated to have risen 1.6% from a year earlier to a record high 198,335 kilograms, equivalent to over 400,000 solid gold Olympic medals. (All mineral data in this story are preliminary estimates and subject to revision.)

Canadian producers received $15.1 billion for their gold in 2023, up 5.7% from a year earlier and almost one-quarter (+24.9%) higher compared with 2019, prior to the COVID-19 pandemic.

Gold was mined in eight provinces and two territories in 2023, with Ontario (88,904 kilograms), Quebec (50,830 kilograms) and Nunavut (25,506 kilograms) producing the most gold.

Gold and silver mining plays an important role in the Nunavut economy, accounting for almost one-fifth (19.4%) of the territory’s gross domestic product in 2023. Gold and silver mining contributed $749 million to Nunavut’s economy in 2023, up 8.2% from a year earlier and 70.0%  higher compared with 2019.

Nationally, exports of unwrought gold, silver, and platinum group metals and their alloys—a category largely composed of unwrought gold—rose by one-third to a record high $34.1 billion in 2023.

No silver lining in silver production in 2023 compared with pre-pandemic levels

Canada ranked 13th in global silver production in 2022. Canadian mines produced 306,263 kilograms of silver in 2023, up 5.4% from a year earlier but almost one-third less (-30.2%) than they produced in 2019. In 2023, Canadian mines produced enough silver to make over 600,000 solid silver Olympic medals.

Canadian mines received $218.6 million for their silver in 2023, 8.3% less than they received a year earlier and nearly one-quarter less (-21.7%) than they received in 2021 when a record $279.2 million worth of silver was sold.

Silver was mined in seven provinces and Nunavut in 2023. Ontario mines produced a record high 137,301 kilograms of silver in 2023, up by one-third (+33.8%) from one year earlier.

Mines in British Columbia produced 100,105 kilograms of silver in 2023, down 2.5% from a year earlier and over one-fifth less (-23.0%) than was produced in 2019.

Canada is the world’s 12th largest copper producer

Bronze is mostly composed of the mineral copper. Canada ranked 12th in world copper production in 2022.

Canadian copper production edged down 0.2% to 508,250 tonnes in 2023, enough to make just over 1 million Olympic bronze medals.

Canadian producers received $5.2 billion for their copper in 2023, down 6.7% from a year earlier but 20.6% higher compared with 2019, prior to the pandemic.

Most of the copper produced in Canada in 2023 was mined in British Columbia (45.9%) and Ontario (43.7%).