10 Shocking Facts About Canada's Hidden Resources:Why We're a'Resource Superpower' Living in Poverty
10 Shocking Facts About Canada's Hidden Resources
Map of major natural resource deposits in Canada
Major natural resource deposits across Canada
Why a "Resource Superpower" Still Has Millions in Poverty
As of 2025, Canada possesses some of the world’s largest reserves of oil, potash, gold, lithium, forests, and freshwater — yet over 4 million Canadians live below the poverty line and national debt exceeds $2.3 trillion.
10 Shocking Facts About Canada's Hidden Resources: Why We're a "Resource Superpower" Living in Poverty is a popular article exploring the paradox of Canada’s immense natural wealth existing alongside persistent poverty, soaring debt, and economic inequality. The 2025 "Buy Canadian" procurement policy has brought renewed attention to this long-standing issue.
Canada's Resource Riches
- World's Largest Potash Reserves – Canada holds approximately 1.1 billion tonnes of potash (31% of global reserves), making it the undisputed global leader in this critical fertilizer mineral.
- 3rd-Largest Proven Oil Reserves – ~170 billion barrels, mostly in Alberta's oil sands, placing Canada behind only Venezuela and Saudi Arabia.
- 3rd-Largest Forest Cover – 369 million hectares of forest (9% of the world’s total), including the planet’s largest intact boreal forest.
- 3rd-Largest Renewable Freshwater Supply – Roughly 7–9% of the world’s renewable freshwater and over 2 million lakes.
- 5th-Largest Unmined Gold Reserves – More than 3,200 tonnes of undeveloped gold deposits.
- 6th-Largest Lithium Reserves – 930,000 tonnes (3.4% of global total), vital for electric vehicle batteries.
- Top-10 Producer of 17 Major Minerals & Metals – Including nickel, cobalt, uranium, diamonds, and rare earth elements.
- Longest Coastline on Earth – 202,080 km, giving Canada unmatched marine resource potential.
- Trillions in Total Resource Value – Natural capital estimated at $1.7–$3 trillion CAD (2023–2025 figures).
- Resource Revenues Fluctuate Wildly – Boom-bust cycles leave provinces dependent on royalties vulnerable during low commodity prices.
The Poverty & Debt Paradox
Despite this wealth:
- Canada’s official poverty rate stands at ~10.2% (2023–2025), affecting over 4 million people.
- Food bank usage has increased nearly 90% since 2019.
- Combined federal + provincial debt is projected to exceed $2.3 trillion in 2025–26.
- Annual debt interest payments now rival or exceed spending on health care or child benefits in some years.
Hope on the Horizon? The 2025 "Buy Canadian" Policy
Budget 2025 introduced a strengthened Buy Canadian policy:
- $186 million allocated to prioritize Canadian steel, aluminum, wood, and manufactured goods in federal procurement.
- Expected to inject up to $70 billion into the domestic economy over the coming decade.
- Aims to keep more resource wealth inside Canada instead of exporting raw materials and importing finished goods.
Why the Disconnect Exists
Common explanations include:
- Heavy foreign ownership of resource companies
- Lengthy regulatory and environmental approval processes
- Interprovincial trade barriers (Canada still lacks full internal free trade)
- The classic "resource curse" phenomenon seen in many commodity-rich nations