With Copper and Gold Surging, the Canadian Mining Stocks You Need to Know About

As the commodity rally in metals continues, some Canadian mining stocks are emerging as winners over others. Here are two to consider.

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Key Points
  • Copper is up over 30% and gold is above US$4,400/oz in 2025, creating a favourable setup for Canadian miners.
  • Copper’s surge is fueled by electrification demand, a 330,000‑tonne deficit, and Chilean supply tightness, while gold gains from safe-haven flows and Fed easing.
  • Teck Resources and Lundin Mining stand out with copper-focused growth, strong balance sheets, and shareholder returns, offering lower risk than junior miners.

Copper and gold prices have surged in 2025. Copper is up over 30% while gold trades at well over US$4400 per ounce amid broader economic uncertainty. This makes it an ideal time to invest in Canadian mining stocks.

todder holds a gold bar

Source: Getty Images

What about that market surge?

The underlying reasons for the surge in both metals highlight that long-term potential. Copper’s rally stems from the explosive demand for electrification, in which copper is a key component. In 2025 alone, a global deficit of 330,000 tonnes of copper has helped accelerate that price surge.

Copper is also surging as a result of a tightening of supply in Chile, which hosts some of the largest and highest-quality mines on the planet.

Turning to gold, there are two key factors. First, there’s the traditional safe-haven view of gold to counter volatility, which we saw plenty of in 2025. Factor in the Fed finally easing on rates, and even the recent volatility in crypto, and we have a perfect storm fueling a gold rush.

For Canadian miners, that opportunity is huge. Here’s a look at some of those Canadian mining stocks to buy for your portfolio.

Teck Resources

First up is one of the top Canadian mining stocks to buy, Teck Resources (TSX: TECK.B). Over the past year, Teck divested its coal business and, in doing so, has become focused on copper.

The subsequent sale of that coal business unlocked a liquidity war chest of up to $9.5 billion, of which $3.3 billion is earmarked for buybacks and dividends.

Teck’s copper focus drives long-term growth, with consolidated guidance at 470,000–525,000 tonnes, despite Quebrada Blanca cuts to 170,000–190,000 tonnes from tailings work. Tailings refer to the slurry of crushed rock, water, and chemicals left over after extracting metals from ore.

Overall, the miner is still on the path to double its output through expansion and new projects by 2030.

By extension, that bump in production will continue to fuel growth and Teck’s dividend.

Speaking of dividends, Teck pays quarterly, but the yield comes in at nearly 0.8%. That being said, the payout ratio comes in well under 20%, making this one of the stable and well-covered Canadian Mining stocks for investors.

Lundin Mining

Lundin Mining (TSX: LUN) represents another high-quality, high-margin copper miner. The miner operates in stable markets such as Chile and Brazil. Those mines include high-quality assets, and the miner’s copper production guidance for Q3 2026 was raised to 319,000–337,000 tonnes.

Even more impressively, Lundin is targeting those mines to generate 500,000 tonnes of copper within the next 3–5 years. That volume bump will let Lundin reach its goal of being a top 10 global producer of copper.

Another key point for prospective investors to consider is Lundin’s leaner, more focused portfolio as a pure-play copper producer. This includes Lundin divesting itself from its European assets to focus exclusively on four Americas-focused mines in Chile and Brazil.

The deal also allowed Lundin to free up significant capital to reduce debt and pay down debt, which is on track to be near zero by the end of 2025, thanks to cash flow/asset sales.

The Canadian mining stocks to buy

For prospective investors considering one or more Canadian mining stocks, both Lundin and Teck Resources offer a unique mix of copper leverage and gold production coupled with strong growth and rally-fueled buybacks, dividends, and growth pipelines.

Both miners are also more appealing and less risk-averse than junior miners, making them perfect for this current rally.

In my opinion, a small position in one or both would be a great addition to any well-diversified portfolio.

Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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