Statistics Canada released its December data for gross domestic product (GDP) by industry on Friday (February 27).
While overall GDP increased 0.2 percent, the figures showed a broad 0.9 percent decline in the mining, quarrying, and oil and gas extraction sector, reversing a 0.1 percent increase in November. In real dollars, the sector contributed C$119.62 billion in the month, just shy of C$120.76 billion in November.
The decrease was due to a 1.1 percent contraction in the oil and gas subsector and a 1.4 percent decline in the mining and quarrying subsector. However, the fall off was slightly offset by a 1.6 percent increase in sector support activities.
The Canadian reporting agency also released its annual mineral production survey on Wednesday (February 25).
The data showed that 2025’s production and shipment numbers increased nearly across the board for copper, silver and gold.
In terms of production, copper output climbed to 499,896 metric tons, beating the 444,587 metric tons in 2024. The quantity of silver produced also rose significantly to 356,052 kilograms in 2025 from 331,965 kilograms. Gold also increased, though narrowly, to 186,923 kilograms from 185,555 kilograms the previous year.
As for shipments, copper climbed to 480,100 metric tons from 437,861 metric tons in 2024, while silver shipments increased to 344,133 kilograms from 325,705 kilograms. Of the three metals, only gold saw a decline, with shipments falling slightly to 184,456 kilograms from 185,376 kilograms a year earlier.
Several other resources, including cobalt and nickel, also saw sizeable jumps last year.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were positive this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.3 percent over the week to close Friday (February 27) at 34,339.99, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 8.4 percent to 1,107.60.
The CSE Composite Index (CSE:CSECOMP) gained 4.02 percent to 174.55.
The gold price gained 1.36 percent to close at US$5,261.19 per ounce on Friday at 4:00 p.m. EST. The silver price fared better, closing the week up 6.55 percent at US$93.66 on Friday.
In base metals, the Comex copper price recorded a 3.24 percent increase this week to US$6.05.
The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was up 2 percent to end Friday at 610.89.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Adex Mining (TSXV:ADE)
Weekly gain: 171.43 percent
Market cap: C$27.09 million
Share price: C$0.095
Adex Mining is an exploration company that holds a 100 percent stake in the Mount Pleasant project in Southwest New Brunswick, Canada. The property contains two main deposits: the Fire Tower zone, which hosts tungsten and molybdenum mineralization, and the North zone, which hosts tin, zinc and indium.
The asset consists of 102 mineral claims covering 1,600 hectares, as well as equipment and facilities from historic mining operations conducted by BHP (ASX:BHP,NYSE:BHP,LSE:BHP) between 1983 and 1985.
According to its most recent investor presentation released on June 11, the property hosts the world’s largest indium reserve and North America’s largest tin deposit. Indicated resources for the North zone demonstrate contained metal values of 47 million kilograms of tin, and 789,000 kilograms of indium from 12.4 million metric tons with average grades of 0.38 percent tin and 64 parts per million indium.
Adex Mining has not released news since it published its interim management discussion and analysis on November 18.
The increase in Adex’s share price this week comes ahead of the Prospectors and Developers Association of Canada convention, which is taking place in Toronto, Ontario, from March 1 to 4.
In a mid-February interview, New Brunswick Natural Resources Minister John Herron revealed that a deal “is due imminently with a well-known company in the Canadian mining community” for Adex’s Mount Pleasant project.
Additionally, he said the provincial government plans to introduce its new minerals strategy at PDAC on March 2. According to Herron, New Brunswick will adopt a one project, one process framework to quickly advance critical minerals projects.
2. US Copper (TSXV:USCU)
Weekly gain: 100 percent
Market cap: C$37.17 million
Share price: C$0.28
US Copper is an exploration company working to advance its Moonlight-Superior project in Northeast California, United States.
The project covers approximately 13 square miles of patented and unpatented federal mining claims in the Lights Creek Copper District, near the Nevada border.
A preliminary economic assessment released on January 6, 2025, demonstrated a post-tax net present value of US$1.08 billion with an internal rate of return of 23 percent and a payback period of 5.3 years, assuming a copper price of US$4.15 per pound.
The included mineral resource estimate shows a total indicated resource of 2.5 billion pounds of copper, 21.7 million ounces of silver and 140,042 ounces of gold from 402.83 million metric tons of ore with a grade of 0.31 percent copper, 1.85 parts per million (ppm) silver and 0.012 ppm gold. The majority is hosted at its Moonlight and Superior deposits.
The company has not released any news since December 15, when it announced that it had staked 54 additional claims, totalling 1,104 acres near Moonlight-Superior, that US Copper intends to use for the project’s infrastructure development.
The company also stated that it had begun metallurgical testing, which it expected to be completed in April 2026, with the release of partial results starting in February 2026.
3. Doubleview Gold (TSXV:DBG)
Weekly gain: 95.62 percent
Market cap: C$27.09 million
Share price: C$2.68
Doubleview Gold is an exploration company working to advance its Hat copper-gold project in Northwestern British Columbia, Canada.
The project is located within BC’s Golden Triangle, an area that hosts numerous active mines and development projects. The property consists of 19 mineral tenures covering an area of 18,000 hectares.
On February 25, Doubleview released an updated mineral resource estimate for its Hat project, reporting copper equivalent resources of 5.82 billion pounds in the measured and indicated categories and 4.57 billion pounds in the inferred category.
The measured and indicated resource includes 2.42 billion pounds of copper, 3.22 million ounces of gold, 80.1 million pounds of cobalt and 5.05 million ounces of silver from 609 million metric tons of ore with average grades of 0.21 percent copper, 0.18 grams per metric ton (g/t) gold, 0.008 percent cobalt and 0.38 g/t silver.
Additionally, the MRE reported a recoverable measured and indicated scandium oxide resource of 2,415 metric tons, grading 28.77 g/t.
Doubleview’s president and CEO stated that exploration of the property has increased the deposit’s size over the years, with it now covering an area of about 1.6 kilometers by 1.6 kilometers. He also noted that the company discovered additional elements within the deposit that it plans to unveil soon.
4. BP Silver (TSXV:BPAG)
Weekly gain: 62.16 percent
Market cap: C$35.9 million
Share price: C$1.20
BP Silver is an exploration company focused on its flagship Cosuño project in Bolivia.
The property covers approximately 3,375 hectares and hosts a 10.5 square kilometer alteration zone within an underexplored jurisdiction. To date, the company has identified four primary targets in the southern project area.
On February 27, the company announced assay results from the final eight holes of the 11 hole drill program at Cosuño.
Exploration encountered several zones of silver mineralization at the Pocañita Chica target. One hole delivered high grades of 600.4 g/t silver over 5 meters, which included an intersection of 1,655 g/t over 1 meter.
The company said it achieved its main goal of “confirming mineralization within the lithocap beneath surface geochemical anomalies,” which it said de-risks the project.
Additionally, BP Silver stated the drill program confirmed a silver and polymetallic mineralized system along a 2.7 kilometer long corridor that remains open in all directions.
5. Tsodilo Resources (TSXV:TSD)
Weekly gain: 61.29 percent
Market cap: C$21.75 million
Share price: C$0.25
Tsodilo Resources is a metals exploration company advancing its Gcwihaba polymetallic project in Northwest Botswana, which hosts the C26 and C27 rare earth skarn anomalies. It also owns the Xaudum iron formation project in the country.
At Gcwihaba, Tsodilo has identified a conceptual exploration target of skarn ore in the 81 million to 97 million metric ton range with grades of 0.05 and 1.49 percent total rare earth oxides (TREO).
The company originally identified the C26 and C27 targets through ground magnetic and gravity surveys, with drilling confirming mineralization at depths of 20 to 50 meters below surface.
Tsodilo plans to perform 15,000 meters of drilling in 2026, with a focus on defining high-grade REE zones, while also evaluating the system’s overall polymetallic potential.
The most recent news from the company came on February 2, when it reported that it had closed a C$742,095 private placement by issuing 4.95 million shares. Proceeds from the financing will be used to advance its projects in Botswana.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of December 2025, 898 mining companies and 71 oil and gas companies are listed on the TSXV, combining for more than 60 percent of the 1,531 total companies listed on the exchange.
As for the TSX, it is home to 175 mining companies and 51 oil and gas companies. The exchange has 2,089 companies listed on it in total.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Other Articles
What Trump’s ‘ratepayer protection pledge’ means for you
Tech Weekly: Stocks See Minor Reprieve Before Ending Week in the Red
