Make metals with China not war, Friedland tells PDAC – by Colin McCelland (Northern Miner – March 6, 2023)

Robert Friedland, founder and executive co-chair of Ivanhoe Mines (TSX: IVN), says the West shouldn’t go to war over Taiwan because it needs investment from China to mine metals for the global green energy transition.

Canada’s order last year for China to divest from Canadian companies’ critical minerals projects deprives junior miners when investment bank Goldman Sachs says US$2.8 trillion is needed to meet carbon-zero targets this decade, the legendary financier told hundreds at the PDAC conference on Sunday in Toronto.

“We’re going to have to find capital from Americans or Saudis or sovereign wealth funds, but we need a lot more money coming to junior mining, orders of magnitude more,” Friedland said. “So, I’m all in favour of not going to war over Taiwan.”

The integration of the world economy peaked in about 2008 when China was buying about half the world’s copper and making almost everything the world consumed, Friedland said.

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