First, many existing mines continue producing, and some are expanding. Those mines result from considerable past and ongoing investments in infrastructure by some of the world's largest mining companies. In Canada, Quebec, Labrador and Nunavut are the largest iron ore producers.

Quebec is Canada's second largest gold producer, and gold exploration is where a lot of activity in Eastern Canada occurs. In Newfoundland, for example, we see a real gold rush, with many companies investing in exploration. One mine in Newfoundland is in this exploration phase and is said to potentially become one of the largest gold mines in the world. We also see a lot of potential reviving in the Chibougamau area.

Another trend that's getting much attention is a growing interest in minerals used in battery production, such as graphite, phosphate and lithium.

The smaller scale means you don't need billions of cash to startup, so we're seeing little projects popping up everywhere, for example, in Newfoundland. They also start production much faster. These won't be the next Barrick Gold or anything like that, but the activity is significant.

However, these mines will typically have a shorter life, so recruiting operators, particularly those who would have to move their families, might be more challenging. Also, you won't see some of the complex advanced technologies, such as electrification and autonomous operation, on these smaller machines in the immediate future.