Some mining executives across Canada are concerned with how mining in this country will be financed.
Local expert John Mason notes investors need to feel confident, and this can be a problem with what he calls junior exploration companies working sites instead of actual mining companies.
“We’re seeing some grassroots projects, some of them are still stalled, that can’t raise the cash. In other words they don’t have a deposit, they’re just an occurrence, a showing in the ground, and they need some initial capital to accelerate that growth. So that’s kind of the R and D of the business.”
A number of industry brass were in western Canada recently warning government needs be more proactive.
Also, finding people to work in Canadian mines appears to be an issue for industry leaders in this country.
“It’s the highest paying sector out there, in terms of industrial sector. But in terms of Canada’s population growth, there’s some challenges there. So, the Indigenous community, immigration, local people are all part of that solution.”
The July meeting in British Columbia also focused on environmental issues.
And, Mason pointed out a lack of infrastructure in northern Ontario could slow down what progress is being made, such as a lack of roads, keeping existing roads maintained, and more.
“But also the electrical transmission piece. A part of that’s going to be addressed with the Watay power piece, the East-West Tie line, but there are other areas like Red Lake, Greenstone, where we still have antiquated transmission.”
The local mining expert notes this was one topic not discussed at that western meeting.
