Timmins weathers trade storm as gold and mining firms find opportunity

When global trade tensions spike, Timmins’ business community feels the ripple – but local experts say the city is showing its resilience.

The recent U.S.- Canada tariff dispute has pushed investors toward perceived safe havens, and gold has been one of the biggest beneficiaries. The metal shot to record highs earlier this month (roughly US$3,645 an ounce) after Washington announced certain exemptions, and prices were hovering near that peak at press time. “Every new tariff announcement stokes uncertainty, and gold is the classic haven people run to,” Priya Tandon, president of the Ontario Mining Association, wrote in response to questions about Timmins’ economy. Ontario produced nearly 90 tonnes of gold in 2023 – about three per cent of global output – and the region’s operating mines and major projects are an important part of the local job picture.

That buoyancy in precious- and critical-minerals is only one side of the story. The tariff fight has also created headaches for small businesses and supply chains. The Timmins Chamber of Commerce – which represents some 650 local businesses – says members are stocking up on U.S.-made supplies, diversifying vendors and forging new partnerships to prepare for ongoing disruptions. “We’re bracing for the impact,” said MJ Filo, the chamber’s policy lead, at the group’s Sept. 3 annual meeting.

Timmins’ unemployment rate is roughly in step with national numbers: 7.2 per cent locally in August, compared with 7.1 per cent nationally. Filo pointed out that Timmins businesses have weathered several economic shocks over the years and have become “resilient and resourceful” as a result.

How tariffs bite can vary. Under CUSMA, most Canadian goods cross the border duty-free, but items that don’t meet the rules-of-origin can face steep 35 per cent tariffs unless exempted. The U.S. also recently increased duties on softwood lumber, and Washington’s suspension of the “de minimis” exemption (which waived duties on low-value parcels under US$800) has been a new hit for small sellers and retailers who ship goods south.

The ripple effects reached federal attention: Ottawa announced billions in new investments in early September to help businesses and workers, including loans and supports for small and medium enterprises. Locally, a yet-to-be-released survey by the Far Northeast Training Board found many Timmins businesses expect the tariffs to disrupt supply chains, push up prices, and force cutbacks in spending and hiring. Most respondents also said the dispute would stall their growth plans in the near future.

Agriculture is feeling it, too. China’s recent high tariffs on Canadian canola products – on top of earlier duties – have pushed some farmers in the Timmins area to pivot away from canola and toward barley and oats, which have more reliable domestic markets. “It’s an expensive crop to plant, and the market uncertainty made many farmers pull back,” said Leonard Riopel of the Porcupine District Agricultural Society.

Back in the mining sector, Timmins is looking ahead to a shifting map of local production. With the Kidd Creek mine scheduled to close in 2026, there will be a pause in critical-minerals output locally until projects like Canada Nickel’s Crawford mine come online – currently projected around 2028. That makes protecting and supporting development in the critical-minerals sector a top priority for the chamber and other local advocates.

Still, there are reasons for cautious optimism. Rising gold and minerals prices and steady global demand are attracting investment and helping the broader economy absorb some of the tariff pressure. Firms in Timmins’ robust mining supply and services sector have been building inventories and expanding relationships to keep operations moving.

Through it all, the message from local leaders is consistent: Timmins adapts. The community has weathered downturns before, and this time businesses are leaning on partnerships, policy advocacy, and pragmatic change to manage the uncertainty. “We’re asking Ottawa to keep negotiating with the U.S., and to protect the critical-minerals sector that will be massive for Timmins’ future,” Filo said – a reminder that for many in the region, long-term strategy matters as much as short-term relief.