Canada’s OG mining financiers are pushing to develop new national champions
Canadian mining financiers are focusing on developing national champions in the industry. Notable figures like Pierre Lassonde and Ross Beaty are engaging in strategic mergers to create larger mining entities without immediate financial premiums. Their goal is to ensure a vibrant domestic mining sector and secure their legacies in Canadian mining history.
- ▪Pierre Lassonde and other mining executives are rolling their stakes into larger companies through all-share deals.
- ▪Lassonde recently swapped a 9.3-percent stake in Orla Mining for a stake in Equinox Gold Corp.
- ▪The OGs aim to create Canadian champions in mining to avoid past mistakes of foreign acquisitions.
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Open this photo in gallery:Teck Resources' Highland Valley Copper Mine near Logan Lake, B.C., in September, 2025.DARRYL DYCK/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountAcross the country, there are university buildings named after the OGs – original gangsters − of Canadian mining. The likes of Pierre Lassonde, Ross Beaty, Norm Keevil and Seymour Schulich didn’t build the fortunes needed to make multimillion-dollar donations by selling the companies they founded at an early stage and walking away, despite opportunities to cash out at lofty takeover prices.The OGs got seriously wealthy by patiently developing mines and building platforms with global scale.
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