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Iron Ore Mining in Nunavut

Author.Name IBISWorld Canada Last Updated: March 2025 NAICS NU21221CA

Iron Ore Mining in Nunavut industry analysis

Revenue for the Iron Ore Mining industry in Nunavut is expected to grow an annualized x% to $x.x billion over the five years to 2025, while revenue for the national industry will likely grow 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 billion, while revenue for the national industry will likely decline -x.x%. The number of industry establishments is forecast to stagnate 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 Iron Ore Mining in Nunavut Market Research Report

What’s Included in the Iron Ore Mining in Nunavut Market Research Report

Definition of the Iron Ore Mining in Nunavut?

The Iron Ore Mining industry in Canada mines iron ore and manganiferous ores valued primarily for their iron content. Companies in this industry also process ore into a concentrated or pellet form. This industry excludes blast furnace operations.

What’s included in the Iron Ore Mining in Nunavut?

The Iron Ore Mining in Nunavut includes iron ore mining and iron ore beneficiating. Related terms covered in the Iron Ore Mining in Nunavut industry report includes a variety of processes whereby ore extracted through mining is separated into mineral and gangue, the former suitable for further processing or direct use, marble-sized balls of an iron ore and clay mixture, baked in a large furnace, the process of compressing or molding a material into the shape of a pellet and an iron-bearing, high-silica, flint-like rock. it typically contains between 20.0 and 30.0% iron and occurs in the mesabi range of northeastern minnesota.

Industry Performance of the Iron Ore Mining industry in Nunavut

Benchmark the Iron Ore Mining in Nunavut industry performance with all NU Census Metropolitan Area and national performance.

Iron Ore Mining in Nunavut

#4 in Highest Revenue 9.2% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Iron Ore Mining in Canada


Revenue (2024)
Annual Growth (2019-24)
Annual Growth (2024-29)

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Key Drivers of the Iron Ore Mining industry in Nunavut

See how key industry drivers, such as gross domestic product, median houshold income, private investment in non-residential construction, world price of iron ore, demand from iron and steel manufacturing and gdp of mainland china are impacting Iron Ore Mining in Nunavut

Nunavut Economic Indicators

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

View more economic information in NU State Economic profile

Canada Key External Drivers

World price of iron ore
Demand from iron and steel manufacturing
GDP of mainland China

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

Census Metropolitan Area Data of the Iron Ore Mining industry in Nunavut

Key Statistics of the Iron Ore Mining industry in Nunavut

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 Iron Ore Mining industry in Nunavut in 2025?

The market size of the Iron Ore Mining industry in Nunavut is $1.1bn in 2025.

How many businesses are there in the Iron Ore Mining industry in Nunavut in 2025?

There are 2 businesses in the Iron Ore Mining industry in Nunavut, which has been growing at an average annual rate of 14.9% from 2020 to 2025.

Has the Iron Ore Mining industry in Nunavut grown or declined over the past 5 years?

The market size of the Iron Ore Mining industry in Nunavut has been growing at an average annual rate of 4.0% from 2020 to 2025.

How many employees in the Iron Ore Mining industry in Nunavut in 2025?

There are 579 employees in the Iron Ore Mining industry in Nunavut, which has been growing at an average annual rate of 2.8% from 2020 to 2025.