BMO Sees Stronger Mining Investment Growth in Canada
Mining News | 2026-09-16 06:02:16
BMO also highlights Canadian pension funds as a potential source of domestic capital.
By Paul Ploumis
SEATTLE (Scrap Monster): According to BMO Global Metals & Mining, Canada’s mining industry could attract significant capital investment, primarily driven by the growing demand for critical minerals.
The outlook comes as Canada seeks to attract C$1 trillion in investment over five years through the Canada Investment Summit. Critical minerals are among the sectors the federal government has identified as priorities for new investment. Incidentally, Canada is the world’s largest potash producer, second-largest uranium producer, fourth-largest gold producer and aluminum refiner.
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According to BMO Managing Director Matthew Murphy, companies had about C$120 billion of projects listed in Natural Resources Canada’s 10-year Major Projects Inventory as of 2025. That represents a C$50 billion increase from the 2018 outlook, although it remains below the previous cycle’s peak of roughly C$220 billion.
BMO expects Canadian development capital expenditure to increase by more than 11% annually over the next two years. Mining companies covered by the bank could collectively spend about C$350 billion on operating costs, sustaining capital and growth projects in Canada over the next five years.
BMO also highlights Canadian pension funds as a potential source of domestic capital. It noted that greater investment could help finance mining infrastructure and downstream processing while supporting new resource development.
POLL
Which factor is a key driver of potential mining investment growth in Canada?
Frequently Asked Questions
- Why could Canada’s mining industry attract more investment?
Growing global demand for critical minerals is creating opportunities for new resource development and related infrastructure. Critical minerals have also been identified by the Canadian government as a priority investment sector.
- How much mining project investment was listed in Canada’s major projects inventory?
Approximately C$120 billion in mining projects was listed in Natural Resources Canada’s 10-year Major Projects Inventory as of 2025. This represented an increase of about C$50 billion from the 2018 outlook.
- What role could Canadian pension funds play in mining investment?
BMO identifies Canadian pension funds as a potential source of domestic capital for the mining sector. Greater institutional investment could help fund mining infrastructure, downstream processing and new resource development.
