Australia and Canada have a lot in common when it comes to mining and resources and are important to the industry’s global transformation.
Both countries are mining superpowers in their own right, supplying a significant percentage of the resources they need, but global energy transitionthey are also leveraging their leadership to guide the global industry’s transition to a sustainable future.
Australia and Canada are recognized as the two largest exploration destinations in dollar terms, with stock exchanges where mines and resources contribute significantly to their respective economies.
Similarly, both countries have substantial amounts of relatively untapped resources, investment-friendly environments, supportive governments, and well-established programs for exploitation of the critical minerals needed for the global energy transition. There is
Both companies have long histories of operating in complex environmental and social contexts, so they also have extensive experience in sustainable practices and meaningful engagement with indigenous peoples and local communities.
lead the change
This strong shared focus on ESG principles and modern mining practices has seen Canada and Australia emerge over the past decade as major leaders in the global industry’s response to the challenges facing the mining industry worldwide.
CEO, Mining Innovation Council of Canada (CMIC) Carl Wetherell Leadership from mature mining nations such as Canada and Australia is essential to achieving global environmental goals for mining.
“To reduce mining’s energy use, water use and environmental footprint by 50 percent by 2027, leading companies will need innovation to reduce waste, reduce costs and reduce environmental impact. “We not only have the opportunity but also the responsibility to work together,” he said.
“Canada and Australia are world leaders in mining, backed by decades of experience and innovation, so they have a natural role to play in leading the transformation of mining into a more agile, sustainable and resilient industry. is responsible for
“Both countries and their companies have an obligation to work together to redefine and rethink the future of our industry in terms of how we work, who we work with and what we work with.
Wetherell said that while the global mining industry is inherently competitive, it also has a common destiny and has inevitably sought active cooperation, especially on common challenges around decarbonisation. Stated.
“We call this ‘cooperation’ and this is one of the reasons why events like IMARC are so important in the pursuit of common goals.”
He said miners and innovators in Canada and Australia have long understood the need for a collaborative effort towards a more efficient and sustainable industry, and that all stakeholders have a clear vision for the future. We believe that you recognize that you can achieve these goals only if you sign and work towards them. together.
“The Canadian and Australian mining and resources industries are leading the way in embracing the challenge of decarbonization and providing their expertise and experience to investee countries.
“As we often say, net zero is easy; zero is hard. fulfilling.”
same but different
From an investor’s perspective, Canada and Australia are risk-free, especially with policies and regulatory settings that welcome, encourage and encourage exploration and development of the resources needed to drive the global energy transition. Considered to be a lower jurisdiction.
As members of the former British Commonwealth, the two countries share similar legal traditions, offering a degree of reassurance regarding risk assessment and a pragmatic approach to managing the energy transition.
Principal and Founder of BRIDGE©, Siri C GenicWhile both are young countries that offer investors stable jurisdiction, strong legal frameworks and respect for the rule of law, there are also differences that can affect investors’ risk appetite. said.
“We certainly see a consistent approach to issues such as health and safety, environment and stakeholder management, EDI, governance and broader sustainability. It demonstrates the best practice of addressing the management of
“While there are common core values and opportunities for investment expansion, there are differences between the two countries, such as permitting processes and timelines, and different risk appetites and investment approaches,” Gennik said.
Australian businesses, from mining operators to exploration companies to METS companies, are looking to Canada as a key source of critical minerals needed for a renewable future, including copper, nickel, lithium and graphite, she said. It is said that
One such company is Wyloo Metals, backed by Andrew Forrest, which is expanding its operations in Canada with a focus on nickel and copper.
Wilu Metals CEO Luca Giacovazzi He said the company’s investments, particularly in establishing a world-class future metal hub in Ontario, will help Canada become a key global producer of reliable and responsibly sourced battery metals in the long term. said he underscored his belief that there is potential for
“Canada has a once-in-a-generation opportunity to establish itself as a major player in the new economy. It provides a foundation while creating economic opportunities for local communities to thrive.”
But while investment in Canada is at a healthy level, Gennik said fewer Canadian companies are investing in Australian projects. He said this may reflect that the global mining and resources industry is in a period of transition, with old investment paradigms being challenged and new alliances being formed, especially around resource supply resilience. said no.
Nonetheless, she said this change in globalization is also an opportunity for Canadian and Australian businesses.
“New relationships and alliances are being formed as nations become more and more self-reliant and want to be as self-reliant as possible and work with partners who share common values.
“It is not just the situation in Russia and Ukraine that is driving this, but similar trends across Asia and South America, creating new investment opportunities in countries such as Canada and Australia.
“The EU is striving to ensure sustainable value chains for all products in the goods it manufactures, and this is an important transformative factor. Or if you wish to include your own products in the products that are assembled, we have adopted a number of very stringent sustainability requirements and regulations that all players in the industry must meet.
“Other countries are also working to meet these requirements, and Australian and Canadian businesses can also consult here.
“The appetite is still there, and investors continue to seek returns from their investments, but not at all costs and not always for immediate gratification. Even more capricious and complex, geopolitics create a challenging landscape for investors, whose expectations go beyond asset value and focus on a holistic approach to a company. Investors want to understand and include these non-technical risks to make sure they understand what their impact and purpose are.
“The opportunity for Canada and Australia is to continue to position ourselves as sustainable leaders for success in this era of change and transition.”
Canada to attend IMARC 2023 in Sydney
Canada looks forward to continuing our long-term relationship International Mining and Resources Council (IMARC) Held this year in Sydney, Australia, it was attended by a delegation promoting the country’s vision of becoming a leading mining nation of the 21st century.
The delegation promises to be the largest in history, and will bring together Canadian companies to introduce their products and services to the global mining and resource markets, especially the Asia-Pacific region, and to help companies establish or expand their operations. Includes a Canada Global Affairs team that facilitates investment opportunities. in Canada.
Senior Investment Officer International affairs in CanadaBertrand Raoul said Canada offers investors a very competitive value proposition.
“Canada is a world mining leader, producing more than 60 minerals and metals, and has advanced exploration projects for lithium, rare earths and other critical minerals that the world needs for a cleaner future. We have strong mineral exploration, mining and mineral processing sectors that are attracting downstream manufacturing as we move towards vertically integrated supply chains,” he said. Stated.
Raoul said Canada is one of the most mining-friendly jurisdictions in the world, with generous programs and incentives, a competitive tax system, a rich innovation ecosystem, and access to over 50 markets for investors. It said it was supporting the mining sector through free trade agreements.
“But perhaps what really sets Canada apart from its competitors is its environmental, social and governance expertise. , making mining and processing greener, safer, smarter and more efficient.
“As a result, Canada has one of the lowest ESG risks across all mining projects in the world, with particularly strong performance in areas such as water use, community engagement, conservation and governance.”
Canada’s Critical Minerals Strategy highlights the importance of mines and resources to the country’s global competitiveness and prosperity. With 626,000 direct and indirect jobs, the industry is the largest employer for Indigenous peoples, accounts for 19 percent of Canada’s total domestic exports, and accounts for approximately $47 billion of mineral production in mines and mines across the region. Coming from a quarry.
“Canada’s vision is to develop its geological resources responsibly, including important minerals, promote the participation of indigenous peoples, ensure sustainable extraction and regeneration practices, and lead the world in innovation,” Raoul said. to promote sustainable mineral development, build community support for sustainable mineral development, and attract underrepresented groups.” Contribute to this high-tech sector that is key to the green economy. ”
The International Mining and Resources Conference (IMARC) will reconvene at ICC Sydney from 31 October to 2 November 2023. As one of the world’s largest and most influential mining events, IMARC creates global dialogue and attracts some of the world’s most influential leaders. He will have three days of learning about mining, investing, METS, trading, and unparalleled networking.
IMARC Chief Operating Officer Anita Richards said IMARC 2023 will be a great opportunity for countries like Canada to attract investment, showcase their expertise and develop business opportunities in partnership with mining and METS companies, investors and suppliers. said it would be an ideal opportunity to
He said it was particularly encouraging to meet a large delegation from the resource-rich provinces of Ontario and Quebec, Canada, not only national but also provincial and local governments have made IMARC an important forum for attracting investment. He said it was shown to be important.
“In fact, we are seeing a similar trend among Australian state governments, attending IMARC 2023 in unprecedented numbers, looking at the unique opportunities each offers.
“Canada should speak for itself as a stable and attractive destination for global investment in the resources the world needs for a cleaner future, and as the expertise and leadership it can offer to a changing global industry. It has a great story,” said Ms Richards. she said.
“IMARC is designed to explore these opportunities and provide a forum to showcase the best and latest knowledge, innovation and growth that will benefit the entire value chain.
“With Australia as one of the world’s largest mining nations playing a key role in the future of our resources, Canada has been a strong partner of IMARC throughout its 10-year history and we are delighted to welcome them again. ”