Franco-Nevada Corp. Chairman Pierre Lassonde is sounding the alarm on the hollowing out of Canada’s big mining companies.
Lassonde, who will step down from his role and become chairman emeritus next year, said he’s “very sorry” that large miners are moving their headquarters outside of Canada, and bemoaned the impact it could have on the whole industry.
“[If] their headquarters go, it means all of the research and development, the head of exploration, the finances, it’s all gone,” Lassonde told BNN Bloomberg’s Andrew Bell Friday.
“You eviscerate the country of incredible talent,” he added. “We have incredible renewal, we have the most junior companies in the world and we have a capital market. But it’s not enough. We need these big companies.”
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