What about that market increase?
The underlying reasons for the surge in both metals highlight that long-term potential. Copper’s rally comes amid explosive demand for electrification, with copper being a key component. By 2025 alone, a global shortage of 330,000 tons of copper will help accelerate that price increase.
Copper is also rising due to tighter supply in Chile, home to some of the largest, highest-quality mines in the world.
When it comes to gold, there are two key factors. First, there is the traditional safe-haven view on gold to combat volatility, which we saw in full force in 2025. When you factor in the Fed’s final easing of interest rates, and even the recent volatility in cryptocurrencies, we have a perfect storm fueling a gold rush.
For Canadian miners, that opportunity is enormous. Here’s a look at some of those Canadian mining stocks to buy for your portfolio.
Teck Resources
First up is one of the best Canadian mining stocks to buy. Teck Resources (TSX:TECK.B). Over the past year, Teck divested its coal operations and focused on copper.
The subsequent sale of that coal company has freed up a liquidity war chest of as much as $9.5 billion, of which $3.3 billion is earmarked for buybacks and dividends.
Teck’s copper focus is driving long-term growth, with consolidated expectations of 470,000 to 525,000 tonnes, despite Quebrada Blanca’s cuts of 170,000 to 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 track to double its production by 2030 through expansion and new projects.
By extension, that production increase will continue to drive Teck’s growth and dividend.
Speaking of dividends, Teck pays quarterly, but the yield is almost 0.8%. That said, the payout ratio is 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. These mines include high-quality assets, and the miner’s copper production guidance for the third quarter of 2026 has been increased to 319,000 to 337,000 tonnes.
Even more impressive, Lundin is targeting these mines to generate 500,000 tonnes of copper within the next three to five years. That volume increase will enable Lundin to achieve its goal of becoming a top 10 global copper producer.
Another key point for potential investors to consider is Lundin’s leaner, more focused portfolio as a pure copper producer. This includes Lundin divesting itself of its European assets to focus solely on four America-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 expected to be close to zero by the end of 2025, thanks to cash flow/asset sales.
The Canadian mining stocks need to be bought
For potential 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 attractive 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.
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