Which Toronto Mining Startups Are Transforming the Industry in 2023?

The world of mining is seeing an exciting resurgence in Canada. This is due to an influx of diverse startups originating in Toronto, Ontario, that are driving innovation in the mining sector. From companies focusing on traditional mining methods to those employing artificial intelligence and exploring space mining, the range of startups is fascinating and diverse. Here we profile 15 of these promising startups – each one offering a unique approach to the mining industry and propelling the industry forward in significant ways.

The mining industry is a critical part of Canada’s economy contributing 97 billion CAD in 2017, and it’s a sector that continues to grow, evolve and innovate. This growth and evolution are being driven by groundbreaking startups that are pushing the envelope in terms of technology and sustainability.

This selection of Toronto-based startups represents a cross-section of the innovative work being accomplished in the industry today. From green and sustainable solutions to tech-focused initiatives, these startups are the ones to watch.

Canada Nickel Company

Canada Nickel Company specializes in the exploration and mining of nickel, a metal in high demand for electric vehicle batteries. Their multi-disciplinary team brings industry-leading expertise, focusing on low-risk mining jurisdictions. This approach guarantees a stable supply and is a great attraction for investors.

Arizona Sonoran Copper Company

Arizona Sonoran Copper Company stands out as a significant developer and producer of copper. Copper is a versatile metal with many industrial applications, making it one of the market’s most sought-after resources.

Paycore Minerals

Paycore Minerals is a junior exploration company that holds a 100% interest in the FAD Project located on the Eureka-Battle-Mountain. Their investment in this exciting project hints at a promising future in the mining industry.

Canadian Space Mining Corporation

For a futuristic approach to mining, look no further than the Canadian Space Mining Corporation. Founded by Daniel Sax, the company is committed to creating the infrastructure to support life in space, via mining.

Generation Mining

Generation Mining was founded by Kerry Knoll and is primarily focused on developing zinc and molybdenum projects in Canada.

Magna Gold

Founded in 2017, Magna Gold is focusing on acquiring, exploring, and developing quality properties in the mineral and mining sector.

Bald Eagle Gold

Bald Eagle Gold is a mining company passionate about exploring and developing assets in known gold districts throughout the Americas.

Baselode Energy

Baselode Energy is a uranium mining exploration company. It focuses on scouring for uranium deposits in the Athabasca Basin and has a positive future in the sustainable energy industry.

Doré Copper Mining

Founded by Ewan Downie, Doré Copper Mining is focused on the development of high-grade copper-gold brownfield projects.

Millennial Precious Metals

Started by Jason Kosec, Millennial Precious Metals is a metal exploration company focused on exploration roll-up gold vehicle projects.

EnviroGold Global

EnviroGold Global stands out in this list for its commitment to environmental stewardship. They offer the mining industry clean technology solutions.

North Peak Resources

North Peak Resources is a gold exploration and development company.


Fortai is an advanced technology and product manufacturing company that provides solutions for the mining industry.


E2Gold is a junior exploration company that explores and develops projects with gold potential, enhancing value for its stakeholders.


StratumAI, founded by Daniel Mogilny and Farzi Yusufali, is a data-driven startup using artificial intelligence to revolutionize the mining industry. Their technology accurately identifies the amount of gold in the ground at any given spot.

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Canada Venture News

CanadaVenture.news is a Canadian venture magazine that covers startups, business, technology, and innovation in Canada. The online publication provides news, insights, and resources for entrepreneurs, investors, and business professionals, featuring articles, interviews, and analysis of the latest trends and developments in the Canadian startup ecosystem.