32 I v a n h o e M i n e s
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
NEW RUSH
B.C. headquartered copper pro
ducer Ivanhoe Mines, which owns
one of the world's fastest growing
copper mines, had a monster year in
terms of profitability, leading with a
net profit margin of 54.4 percent
Eligible organizations may be publicly
traded, privately held, Crown-owned,
subsidiaries, co-operatives or independent
not-for-profit agencies. Financial data may
or may not be audited. In cases where the
organization does not publish or otherwise
disclose its financial information, we
sometimes include third-party reports
or estimates where we have reasonable
confidence in their accuracy.
Mines led with a net profit margin of 54.4
percent, followed by B.C. Lottery (53.7
percent), BC Housing (52.5 percent),
Wheaton Precious Metals (41.2 percent),
Lundin Gold (35.7 percent), liquefied
natural gas shipper Teekay Tankers (32.8
percent) and port operator Westshore
Terminals (31.8 percent).
Pan American Silver staged the most
impressive turnaround story of the year,
going from a loss of $141.6 million in 2023
to a profit of $154.4 million in 2024. In the
same vein, Fortuna Mining swung from a
$58.9-million loss to a $194.4-million gain
and Orla Mining went from losing $36.5
million to making $121.9 million. Honourable
mention in the turnaround category goes
to forest giant West Fraser Timber, which
cut its net loss to $6.8 million last year from
$225.4 million a year earlier.
The disappointing performance of the
Top 100 in 2024 might be viewed as a lead-
ing indicator of what many economists
believe will turn into a recession in 2025. If
that's the case, let's hope they lead the way
to better times ahead too.
METHODOLOGY
Tracked by BCBusiness annually since the
1980s, the Top 100 is meant to serve as a
snapshot of British Columbia's corporate
heavyweights. Membership is open to
companies whose operational and/or legal
headquarters are located in the province.
The listed firms are ranked by total revenues
recorded in the fiscal year ending in 2024.
For organizations that report in U.S. dollars,
figures are converted to Canadian dollars at
the 2024 average annual rate of 1.3698 and
1.3497 for 2023.
