The fundamentals behind the last supercycle remain in place, insists Pierre Gratton. Yet the Mining Association of Canada president/CEO warns that the country has lost ground as a global industry leader.
While the current upswing continues, the transition to a cleaner, lower-carbon future will call for even more mineable commodities. Whether Canada participates to its fullest potential, however, depends largely on policies directed by Ottawa.
Addressing a 230-strong Greater Vancouver Board of Trade audience on September 27, Gratton noted that by 2015 Canada lost its first-place spot for exploration investment. The usurper was Australia, which proved itself “much more strategic and successful over the past decade.”
Meanwhile this country’s list of active projects has fallen to nearly half its 2011 peak of 2,700. Only two new projects came up for federal environmental assessment in 2016, an historic low. “We’ve got world class deposits sitting idle,” he added, citing Ontario’s Ring of Fire, Nunavut’s Izok Corridor and British Columbia’s New Prosperity.
Yet opportunities have been improving, he maintained, and not just because of stronger commodity prices. In addition to continued growth among emerging economies, carbon-reducing measures call for new technologies that require more mining products. That’s the case for electrified transportation, wind and solar generation, and energy storage.
For the rest of this article: http://resourceclips.com/2017/10/04/at-a-regulatory-crossroads/