PricewaterhouseCoopers says the interest in copper, lithium and cobalt driven by the potential for electric vehicles will likely influence the market of initial public offerings in 2018.
Stabilizing commodity prices will also play role in the IPO market, the company says.
PwC says a resurgence in the mining sector in the final months of 2017 pushed total proceeds from initial public offerings in Canada to $5.1 billion last year, up from $466.7 million in 2016.
Reuters reported in December 2017 that Canadian developers of cobalt and lithium mines stand to benefit from a round of investments from the makers of electric vehicles and the batteries powering them, a potential game-changer for small miners short on money to develop deposits of these critical battery ingredients.
There were 38 issues from Canadian companies or companies listing on Canadian exchanges in 2017.
That included 13 in the fourth quarter, which raised a total of $1.7 billion.
Six of those were in the mining sector last quarter, raising the total number of sector IPOs for the year to 20.
Reuters noted in December 2017 that a string of potential financing deals in Canada came after a handful of predominantly lithium miners in Australia -- the world’s biggest lithium producer -- secured investment from mainly Chinese automakers and battery makers this year looking to lock in future raw material supply.
Lithium mine developers have been able to secure funding earlier than their cobalt peers as fears of a supply shortage started in late 2015, when cobalt was still in surplus.
Despite accounting for more than half of public offerings last year, proceeds from mining offerings totalled $947.3 million, trailing energy at $2.02 billion.
Pharmaceuticals and health raised $668.5 million, retail $665.4 million, industrial products $400.1 million and other $416.5 million
The Canadian Press and Reuters contributed to this report.
