Natural Resources

2025 Top 100: 10 biggest natural resources companies in B.C.

From mining giants to struggling forestry firms, here's how B.C.’s biggest resource companies performed—plus the gold rush that helped one company stage a dramatic comeback.

By BCBusiness /

B.C.’s natural resources heavyweights are navigating a shifting landscape. In 2024, Teck Resources ceded its lucrative coal business—now spun off as Elk Valley Resources under Swiss commodity giant Glencore—leaving a slimmer but still formidable mining company at the top of the list. Meanwhile, the province’s forestry titans, including West Fraser Timber and Canfor, continued to grapple with a stubborn cyclical downturn. Despite some encouraging financial rebounds—West Fraser notably slashed its net loss by over $200 million—there’s no clear wave of up-and-comers to carry the sector forward.

One bright spot? Gold and silver. With gold above US$3,000 an ounce amid global uncertainty, precious metals firms surged. Pan American Silver staged the year’s most dramatic comeback, swinging from a nine-figure loss to a solid profit and leaping up the ranks with a 23 percent revenue boost. While the sector remains dominated by legacy players, this year’s performance showed that, at least in metals, there’s still some shine left in B.C.’s natural resources game. Here’s who fared at the top from our 2025 Top 100 list.

1. Teck Resources

Revenue by fiscal year ($000)
2024: 9,065,000
2023: 15,011,000

2. West Fraser Timber Co.

Revenue by fiscal year ($000)
2024: 8,457,145 c
2023: 8,710,964 c

3. First Quantum Minerals

Revenue by fiscal year ($000)
2024: 6,577,780 c
2023: 8,713,663 c

4. Canfor Corp.

Revenue by fiscal year ($000)
2024: 5,252,800
2023: 5,426,600

5. Lundin Mining Corp.

Revenue by fiscal year ($000)
2024: 4,688,277
2023: 4,578,286

6. Pan American Silver

Revenue by fiscal year ($000)
2024: 3,861,329 c
2023: 3,126,040 c

7. Interfor Corp.

Revenue by fiscal year ($000)
2024: 3,023,600
2023: 3,315,700

8. Elk Valley Resources

Revenue by fiscal year ($000)
2024: 2,994,383
2023:  NA

9. Mercer International

Revenue by fiscal year ($000)
2024: 2,798,995 c
2023: 2,691,091 c

10. B2Gold Corp.

Revenue by fiscal year ($000)
2024: 2,605,401 c
2023: 2,610,687 c