With commodities in the driver’s seat, dominated by precious metals, here’s our full list of the biggest winners for revenue in the Top 100.
| Rank | Company | 2025 Revenue ($000) | 2024 Revenue ($000) | Revenue % Change |
|---|---|---|---|---|
| 1 | Artemis Gold | 913,939 | 0 | NA |
| 2 | Ivanhoe Mines | 617,289c | 55,912c | 1,004 |
| 3 | Integra Resources Corp. | 340,960 | 41,573 | 720.1 |
| 4 | Orla Mining | 1,478,706 | 471,074 | 213.9 |
| 5 | Uni Express (UniUni) | 941,000 | 401,000 | 134.7 |
| 6 | Meren Energy Inc. | 1,237,892 | 536,140 | 130.9 |
| 7 | First Majestic Silver Corp. | 1,757,254c | 767,915c | 128.8 |
| 8 | Endeavour Silver Corp. | 653,472c | 298,122c | 119.2 |
| 9 | Elk Valley Resources | 5,898,716c | 2,994,383c | 97 |
| 10 | Beem Credit Union | 67,857 | 12,349 | 87.4 |
c = converted from US$ at 1.3978 (2025) and 1.3698 (2024).
Winners
Artemis Gold
Revenue change: ∞
Net income: $349.2 million
Net income change: NA [went from negative to positive]
All that nice guy billionaire Ryan Beedie touches is gold, literally and figuratively. Just look at Artemis Gold, where he holds approximately 29 percent of the company’s shares. With the Blackwater mine coming online and gold sales finally hitting the books, Artemis Gold recorded close to $1 billion in revenue in 2025 amid a record-breaking year for gold prices.
Ivanhoe Mines
Revenue change: 1,004.0%
Net income: $432.5 million
Net income change: 74.4%
Historic highs for copper prices were a boon for many, including Ivanhoe, which recorded a standout year owing to strong production at its Kamoa-Kakula copper complex in the Central African Copperbelt. The Vancouver-based mining firm also saw ongoing expansion, with a smelter ramp-up, new processing capabilities and key infrastructure upgrades.
Orla Mining
Revenue change: 213.9%
Net income: $148.1 million
Net income change: 21.5%
Vancouver-based gold firm Orla Mining called 2025 “pivotal” as it recorded higher gold production at its Camino Rojo mine in Mexico and successfully integrated the Musselwhite mine in Ontario (which it acquired for $810M) into its platform. Orla says initial exploration results back east have been encouraging, and that there’s significant potential for extending that mine’s life—meaning we may see Orla on the gainers list for a few more years to come.
Integra Resources Corp.
Revenue change: 720.1%
Net income: -$3.1 million
Net income change: NA [reduced loss]
Alongside Artemis and Orla in the “ramp up” cohort of this year’s list, Integra’s breakout year reflects its first full year operating the open pit Florida Canyon mine just outside Reno, Nevada. (They closed on the mine in late 2024, so they only got a sliver of production onto the books for the year.) Turning a partial-year revenue base into full-scale production, Integra has been amplified by strong gold prices and operational improvements.
Uni Express (UniUni)
Revenue change: 134.7%
Net income: NP
Net income change: NA
Richmond last-mile delivery behemoth UniUni, which acts as a delivery partner for offshore retailers like Temu and Shein, saw a massive revenue surge amid rapid growth in parcel volumes and expansion into new markets. The delivery giant, which also has a gig worker-powered e-commerce logistics platform, also just secured US$85M backed by a Beijing-based private equity firm as it seeks to add advanced sorting machines to warehouses and scale parcel output.
Meren Energy Inc.
Revenue change: 130.9%
Net income: -$115.6 million
Net income change: NA [reduced loss]
In last year’s biggest loser cohort, Meren Energy, an oil and gas exploration firm with assets in deep-water offshore Nigeria, saw an astounding reversal of fortunes, with reported revenue in the hundreds of millions. Those numbers are reflected by a restructuring and reorganization that brought its underlying oil production directly onto its books.
First Majestic Silver Corp.
Revenue change: 128.8%
Net income: $294.9 million
Net income change: NA
It was a busy year for publicly traded mining company First Majestic Silver, kicking off with a closing of the acquisition of Gatos Silver, whose prime asset is an underground silver-zinc-lead operation in Chihuahua, Mexico. Buoyed by outperforming silver prices, First Majestic smashed company targets for production, up 84 percent from 2024; it’s doing so well, in fact, it announced it would increase dividends to shareholders.
Endeavour Silver Corp.
Revenue change: 119.2%
Net income: -$166.5 million
Net income change: NA [increased loss]
The second silver miner on our revenue gainers list this year, Endeavour saw three milestones that contributed to its success. Record prices, for one, coupled by commercial production starting at its Terronera facility in Mexico’s Jalisco state. At the same time, the company completed the acquisition of Minera Kolpa, adding an operating mine in Peru that immediately boosted throughput.
Elk Valley Resources
Revenue change: 97.0%
Net income: NP
Net income change: NA
Elk Valley Resources, which operates four coal mines in B.C.’s Elk Valley, is doing well. Just how well? EVR saw a cool 97-percent bump in revenue—to the tune of nearly $3 billion—and moved up to the 12th spot on the Top 100 list, from 22nd. (In a large part that was due to reporting a full year of revenues, compared to only half a year in 2024 following its separation from Teck.) Still, it wasn’t all sunshine. The company cut 140 positions after tariffs doubled on steel imports headed to the U.S.
Beem Credit Union
Revenue change: 87.4%
Net income: $67.9 million
Net income change: 449.5%
We called Beem “one to watch” in last year’s Top 100 issue after its merger with BlueShore Financial, and the credit union has not disappointed. Beem’s standout year was driven by rapid consolidation, including major mergers that dramatically expanded its assets, membership and geographic reach, and positioned it to compete more directly with Canada’s big banks.
