Critical minerals are often discussed as a future economic opportunity for Canada, but new Statistics Canada data released October 8, 2026 shows they are already a sizeable part of the economy.

Critical-mineral production contributed $26.3 billion to Canadian nominal GDP in 2024 and supported approximately 57,500 jobs.

The sector represented roughly 0.9% of Canada’s total economy and one-third of the broader mineral and mining sector.

The numbers also show why the value of the industry cannot be measured only by commodity prices: while nominal GDP was affected by lower prices for some minerals, real critical-mineral production increased strongly.

Critical minerals generated $26.3 billion in GDP

Statistics Canada reported that production of critical minerals generated $26.3 billion in nominal GDP in 2024.

That represented approximately 0.9% of the total Canadian economy.

Within the mineral and mining sector, critical minerals represented 33.4% of GDP.

Canada’s critical-mineral list includes materials considered important for economic security, clean technology, digital industries and national security.

The list currently includes 34 minerals.

Potash remained the largest contributor

Potash generated approximately $7.0 billion in nominal GDP in 2024.

It remained the largest individual grouping in the critical-mineral data.

The second-largest category was Canada’s group of prioritized critical minerals, at approximately $6.6 billion.

This priority group includes:

• cobalt
• copper
• nickel
• rare earth elements
• graphite
• lithium

Aluminum was close behind, contributing approximately $6.4 billion.

Mining-support services are also a large part of the industry

The economic contribution is not limited to digging minerals out of the ground.

Services supporting mineral extraction and production generated approximately $3.1 billion in GDP.

These businesses can include engineering, drilling, exploration, transportation, environmental work, maintenance and other specialized services.

This means critical-mineral development can create economic activity well outside the mine site itself.

Real production grew 8.2%

The most important growth number in the report may be real GDP.

After adjusting for price changes, critical-mineral production increased by 8.2% in 2024.

Every major critical-mineral grouping recorded real growth.

The strongest increase was in platinum-group metals, where real GDP grew by 16.7%.

Unrefined prioritized critical minerals increased by 13.9%.

Refined prioritized critical minerals grew by 9.9%.

Services supporting extraction and production increased by 8.6%.

That indicates the physical volume of economic activity was expanding even though commodity prices did not always move in the same direction.

Why nominal GDP and real GDP tell different stories

Nominal GDP reflects both production volumes and prices.

Real GDP attempts to remove the impact of price changes.

This distinction is especially important for mining because commodity prices can rise or fall dramatically.

Between 2019 and 2024, nominal GDP attributable to critical minerals increased by 42.3%.

Real GDP increased by only 2.3% over the same period.

This large difference shows how much commodity-price movements influenced the dollar value of the sector.

Potash is a good example of the price effect

Potash prices increased dramatically in 2021 and 2022.

As a result, potash’s nominal GDP contribution reached approximately $14.7 billion in 2022.

By 2024, its nominal contribution had fallen to $7.0 billion as prices partially corrected.

That does not mean potash production necessarily fell by the same proportion.

The dollar value and physical volume of production are different measures.

Critical minerals supported nearly 57,500 jobs

Statistics Canada estimated that 57,473 jobs were associated with critical-mineral extraction and production in 2024.

That was an increase of 5.4% compared with the previous year.

Aluminum production supported the largest number of jobs, approximately 15,800.

Mining and extraction support services accounted for approximately 14,100 jobs.

Production and extraction of prioritized critical minerals supported approximately 12,500 jobs.

The industry is linked to far more than electric vehicles

Critical minerals are frequently discussed in relation to electric-vehicle batteries, but their uses are much broader.

Copper is used heavily in electrical systems and power infrastructure.

Rare earth elements are used in electronics, motors and defence technologies.

Graphite and lithium are important battery materials.

Nickel and cobalt are used in batteries and industrial alloys.

Potash is essential for fertilizer and global food production.

Uranium supports nuclear power generation.

Aluminum is used throughout transportation, construction, aerospace and manufacturing.

Canada considers six minerals particularly important

Canada’s Critical Minerals Strategy identifies six minerals with particularly strong potential to support Canadian economic growth and strategic supply chains:

• lithium
• graphite
• nickel
• cobalt
• copper
• rare earth elements

The federal government’s strategy aims to expand more than extraction.

The goal is to build supply chains that include processing, manufacturing and recycling inside Canada.

This matters because a country can mine a mineral domestically but still rely on another country to process it into usable material.

Critical minerals have become an economic-security issue

The policy focus has also changed because critical minerals are increasingly treated as an economic and national-security issue.

They are required for telecommunications equipment, energy infrastructure, aerospace, defence technology and advanced manufacturing.

Supply disruptions can therefore affect industries far removed from mining.

Canada’s current strategy places increasing emphasis on secure supply chains and partnerships with allied countries.

The U.S. market remains important

Canada’s mineral and manufacturing industries are closely integrated with the United States.

That creates an obvious export opportunity, but it also creates exposure to U.S. tariffs and trade-policy changes.

Aluminum, which accounted for the largest number of critical-mineral jobs in the latest Statistics Canada data, has already faced U.S. tariff pressure.

Maple Curiosity’s Canada–U.S. Trade Friction analysis looks at the wider tariff and supply-chain issue.

Why processing matters as much as mining

Opening a mine is only one step in a mineral supply chain.

Ore may need to be concentrated, refined or converted into materials suitable for batteries, electronics or industrial products.

Countries that control those middle stages can capture more economic value than countries that simply export raw material.

Canada’s current critical-minerals policy therefore increasingly focuses on processing capacity as well as extraction.

The federal government has also been supporting infrastructure and investment intended to connect mining regions with processing facilities and export markets.

Could the industry create significantly more jobs?

Potentially, but the latest Statistics Canada numbers describe activity that already existed in 2024.

They should not be interpreted as a forecast of guaranteed future employment.

New mines and processing facilities can take years to permit, finance and build.

Commodity prices, Indigenous partnerships, infrastructure, electricity supply and global demand can all influence whether individual projects proceed.

Natural Resources Canada nevertheless expects global demand for critical minerals to grow substantially over the coming decades.

Mining also faces a workforce challenge

The expansion opportunity comes as Canada’s broader workforce is aging.

Natural Resources Canada notes that a significant share of mining workers are already older than 55.

That means future growth will require not only investment in mines and processing facilities but also additional engineers, geoscientists, technicians, tradespeople and equipment operators.

This connects directly with Canada’s wider labour-supply challenge described in Maple Curiosity’s Canada Aging Population analysis.

Critical minerals are increasingly connected to defence investment

Mineral supply security is also becoming part of Canada’s defence-industrial strategy.

Modern aircraft, communications equipment, radar, electronics and weapons systems depend on specialized metals and minerals.

This gives mining and mineral processing a connection to the defence investments Canada is making in Alberta and elsewhere.

Maple Curiosity’s Alberta Defence Investment analysis explains how aerospace, electronics and manufacturing companies are being drawn into new defence supply chains.

The newest data changes the critical-minerals conversation

Critical minerals are often presented as a future opportunity built around yet-to-be-developed mines.

The latest Statistics Canada numbers show that there is already a substantial operating industry.

In 2024, it generated $26.3 billion in nominal GDP, supported nearly 57,500 jobs and recorded 8.2% real production growth.

The next question is whether Canada can move further along the value chain—from extracting minerals to processing and manufacturing more of the products that use them.