Never Rest On Your Ores: The Road To Restoring Canada’s Mining Industry – by Alp Bora (Forbes Magazine – June 12, 2024)

Founder & CEO of Alp Bora & Co., Alp Bora talks about mining, sustainability and corporate culture.

“Who earned it? Eh? I thought so. Your father. You stand on dead men’s legs. You’ve never had any of your own.” —The Sea-Wolf, Jack London

Canada’s mining industry is walking on dead men’s legs. The country inherited a mining legacy and set modern standards, but evidence suggests action is needed to renew it. Metal production in Canada has become irregular due to the depletion of reserves and more dependence on imports, and production of Canadian refined metals such as nickel, zinc, lead, and copper has fallen since 2005.

A Chinese saying goes “wealth does not last beyond three generations.” It was a generation ago that China made their policy to dominate metals and refining. Meanwhile, Canada has rested on its legacy and sold some of its more profitable companies. I believe this has endangered the country’s mining future and economy.

Canada’s Declining Mining Legacy

By the 1970s, production of many of Canada’s major metals reached their peak. In the 1980s, geologists discovered more uranium and potash, and gold production and exploration increased after the end of Bretton Woods in the early 1970s. From 1980 to 1990, gold production in Canada increased by 327%. But low mineral prices in the 1990s held back mineral exploration.

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