Deal-Hungry Miners Return to Toronto With EV Metals in Focus – by Yvonne Yue Li and James Attwood (Bloomberg News – June 13, 2022)

(Bloomberg) — As the mining industry gathers in Toronto this week for one of its biggest annual events, the focus will be on two groups of metals: one that’s seeing soaring demand across the world, and another with almost no industrial utility.

Thousands of investors, executives, bankers and government officials are set to converge on the Prospectors & Developers Association of Canada conference at the biggest mining hub in the Americas.

After a multiyear slump, the industry is beginning to pick up on the back of rising consumption of metals like nickel and lithium used in batteries. Long-term projections for electric vehicles show an urgent need for new mines for those elements.

But another theme also likely to dominate the PDAC show from June 13-15 is dealmaking in the gold industry, weeks after a pair of multi-billion dollar deals involving Canadian miners created two of the top global gold producers.

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