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B C B U S I N E S S . C A
J U LY/A U G U S T 2 0 2 5 To p : B .C . L o t t e r y C o r p . ; b a c k g r o u n d : S o lli a / S h u t t e r s t o c k
BLOODIED
BUT UNBOWED
The ranks of B.C.'s
corporate heavyweights
faced economic and other
headwinds in 2024. Still,
some outperformers—
think gold producers and
Crown corporations—
shone through
By Michael McCullough
Most years, there will be a handful of
major companies in B.C. that will at least
double their revenues. This past year there
were none.
Lithium Americas (Argentina) achieved
the feat after the first full year of commercial
operations at its Cauchari-Olaroz lithium
brine evaporation project in Argentina,
posting a 481-percent revenue gain in 2024.
But it didn't get quite large enough to crack
our list of the 100 largest companies by
revenue in British Columbia. (Instead, it's
high on our Next 10 list, which you'll find
on page 34.) The company will not make
the Top 100 next year, either, because it's
in the process of moving its headquarters
to Switzerland.
If British Columbia's corporate com-
munity were a professional sports team,
people might say it's in a rebuilding phase.
Head offices have been dropping off our list
for a variety of reasons.
Paper Excellence Group, until recently
domiciled in Richmond and recording
$14.6 billion in revenue in 2023, last year
reorganized and rebranded itself as Domtar
Corp. after its 2021 acquisition based in
Montreal, where it now officially resides.
Teck Resources shed its multibillion-
dollar coking coal business focused
on southeastern B.C. The new owner,
Glencore plc of Switzerland, discloses
limited information about the financial
contribution of what's now known as Elk
Valley Resources.
Though still formally registered in
Burnaby, RB Global, the former Ritchie Bros.
CONTINUED ON PAGE 28 ▶
WEARING THE CROWN
Four of the top five organizations
by total dollar earnings in the
province last year were Crown
corporations, including B.C.
Lottery Corp. ($1.54 billion)
