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Gold & Silver Ore Mining in Newfoundland

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS NL21222CA

Gold & Silver Ore Mining in Newfoundland industry analysis

Revenue for the Gold & Silver Ore Mining industry in Newfoundland And Labrador is expected to grow an annualized x% to $x.x million over the five years to 2025, while revenue for the national industry will likely decline at -x.x% during the same period. The number of industry establishments has increased an annualized x.x% to x locations over the past five years. Industry employment has increased an annualized x.x% to xxx workers during the period, while industry wages have increased an annualized x.x% to $x.x million.

Over the five years to 2030, provincial industry revenue is expected to grow an annualized x.x% to $x.x million, while revenue for the national industry will likely decline -x.x%. The number of industry establishments is forecast to grow x.x% to x locations over the next five years. Industry employment is expected to increase an annualized x.x% to xxx workers during the outlook period, while industry wages likely increase x% to $x.x million.

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About the Gold & Silver Ore Mining in Newfoundland Market Research Report

What’s Included in the Gold & Silver Ore Mining in Newfoundland Market Research Report

Definition of the Gold & Silver Ore Mining in Newfoundland?

The Gold and Silver Ore Mining industry in Canada mines and prepares ores valued primarily for their gold or silver content. Some companies process ore into concentrate or bullion on-site, while others maintain refining facilities abroad. Companies in this industry can also store and delay the sale of their output to speculate commodity price fluctuations.

What’s included in the Gold & Silver Ore Mining in Newfoundland?

The Gold & Silver Ore Mining in Newfoundland includes gold ore mining, silver ore mining, gold ore beneficiation and silver ore beneficiation. Related terms covered in the Gold & Silver Ore Mining in Newfoundland industry report includes a very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated, gold cast into ingots, coins or bars, typically with a purity of 99.9% gold, valued by its mass and purity, after being minted, this first stage in the purification process of the gold ore produces a cast bar (gold dore) that is about 90.0% gold and a unit of imperial measure most commonly used to gauge the weight of precious metals and defined as 0.0311034768 kg = 31.1034768 g.

Industry Performance of the Gold & Silver Ore Mining industry in Newfoundland

Benchmark the Gold & Silver Ore Mining in Newfoundland industry performance with all NL Census Metropolitan Area and national performance.

Gold & Silver Ore Mining in Newfoundland

#6 in Highest Revenue 1.6% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Gold & Silver Ore Mining in Canada


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Gold & Silver Ore Mining industry in Newfoundland

See how key industry drivers, such as median houshold income, private investment in non-residential construction, gross domestic product, world price of gold, world price of silver and consumer confidence index are impacting Gold & Silver Ore Mining in Newfoundland

Newfoundland Economic Indicators

Median Houshold Income
Private Investment in Non-Residential Construction
Gross Domestic Product

View more economic information in NL State Economic profile

Canada Key External Drivers

World price of gold
World price of silver
Consumer confidence index

For the full list of industry drivers, see report purchase options.

Census Metropolitan Area Data of the Gold & Silver Ore Mining industry in Newfoundland

Key Statistics of the Gold & Silver Ore Mining industry in Newfoundland

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Gold & Silver Ore Mining industry in Newfoundland in 2025?

The market size of the Gold & Silver Ore Mining industry in Newfoundland is $242.6m in 2025.

How many businesses are there in the Gold & Silver Ore Mining industry in Newfoundland in 2025?

There are 3 businesses in the Gold & Silver Ore Mining industry in Newfoundland, which has been growing at an average annual rate of 8.4% from 2020 to 2025.

Has the Gold & Silver Ore Mining industry in Newfoundland grown or declined over the past 5 years?

The market size of the Gold & Silver Ore Mining industry in Newfoundland has been growing at an average annual rate of 29.0% from 2020 to 2025.

How many employees in the Gold & Silver Ore Mining industry in Newfoundland in 2025?

There are 114 employees in the Gold & Silver Ore Mining industry in Newfoundland, which has been growing at an average annual rate of 11.2% from 2020 to 2025.