Record prices for silver could see mines reopen in northern Ontario town of Cobalt
There were 34 silver mines in Cobalt area in early 1900s, the last one closed in the 1980s
Northern Ontario is experiencing a surge of activity in silver mining as exploration accelerates and long-dormant properties are reactivated. Companies in the region are reporting strong interest from investors and a stepped-up drilling pace, driven by higher silver prices and improved infrastructure access. Several projects are moving toward permitting or production readiness, marking a shift from primarily gold-focused exploration to increased base and precious metal diversity.
Local communities in towns like Greater Sudbury and Timmins are benefiting from expanded mining investment, with opportunities for jobs, business contracts, and regional growth. The resurgence in silver also ties into the global push for clean-technology metals—silver plays a key role in solar panels, EVs, and other components of the green economy.
Despite enthusiasm, industry stakeholders note that challenges remain: permitting delays, cost inflation, and remote access add complexity. Still, with Ontario’s “One Project, One Process” permitting reforms taking effect and transmission infrastructure improving, many believe the timing is favorable. The renewed focus on silver offers an emerging path to diversify the mining-economy footprint in northern Ontario and capture value from underexplored domains.