Mining Insight magazine is covering the 91st Prospectors & Developers Association of Canada (PDAC) Convention, where we are proud to be a media partner for the 2nd year in a row. Today, we have the privilege of speaking with PDAC President Alex Christopher. He shared with us his insights and expectations for this highly anticipated annual gathering of the global mining industry.What can attendees expect from the 91st PDAC Conference, the world’s leading mineral exploration and mining convention?Is there anything unique in store this year?
After a completely online event in 2021, followed by a successful hybrid event in the summer of 2022, the PDAC 2023 Convention returns to its traditional dates in March for our first fully in-person event since the start of the pandemic. Now spread over 600,000 square feet of the Metro Toronto Convention Centre’s (MTCC) North and South buildings, this will be one of the largest in its 91-year history.
As the world looks for new sources of critical minerals to fuel the low-carbon transition, the mineral exploration and mining industry enter a period of transformation and growth.
This is reflected in an outstanding lineup of programming that highlights the economic opportunities it presents, as well as the unique technical challenges we face and the strategies needed to solve them. Perennial networking receptions – such as the prestigious Awards Gala honoring the industry’s most outstanding contributors, and Opening Ceremonies that reached maximum capacity in 2022 (its highest attendance ever) – are set to return. Plus, more intimate gatherings to build meaningful connections, including the New Member Networking Reception and The Network: Featuring Duelling Pianos.
What are the keynote topics for this year’s conference and why were they selected?
Programming is carefully selected each year to ensure that it reflects real issues and conversations happening throughout the industry. For the second year in a row, an expanded Keynote Program features four themes designed to inspire and educate: commodities (all metals are becoming critical), mineral outlook (Minerals for the future), technology (Technology and the future of mineral exploration) and discoveries (Julimar project: The right metals at the right time in Western Australia). The exciting lineup of speakers will discuss new and exciting concepts that explore the compelling challenges of mineral exploration and development in 2023.
Can you emphasize the importance of the Canadian mining industry, which contributes more than CAD 100 billion to Canada’s GDP annually?
Canada’s mineral exploration and mining industry is a major driver of the national economy, contributing CAD 97 billion in gross domestic product annually and creating more than 657,000 jobs (direct and indirect). In 2021, Canada was one of the top destinations for mineral exploration, attracting 19% of global budgets. PDAC is proud to represent the voice of this industry and its 6,500+ members.
What advice would you give to countries struggling to attract foreign direct investment (FDI) in light of new trends in global mining? In general, what steps do you believe countries should take to maximize the outcomes from the PDAC conference?
An open and transparent policy, permitting certainty and security of title is key to attracting FDI. Responsible exploration and development practices that meet the highest social and environmental standards must be supported and rewarded.
It is also essential to create a safe and desirable jurisdiction for conducting business – in short, a country must build investor trust!
What is the significance of participating in PDAC events in the eyes of global mining companies?
I believe they see this as a must. The PDAC Convention – celebrating its 91st year in 2023 – is the world’s premier mineral exploration and mining convention for good reason. Our industry is vast, spanning the globe with touchpoints in virtually every country of the world. The biggest opportunities come from putting people, governments, and companies together in one place to discuss issues facing the industry today. It allows for education, networking, showcasing the latest discoveries, investment, collaboration, and working towards mutual objectives. We are unrivaled in offering such a platform. The previous PDAC was widely regarded as highly successful.
Can you share the outcomes from the last year? Were there any major partnerships, noteworthy investments, new ventures, or breakthroughs in the global mining industry?
The PDAC 2022 Convention welcomed more than 17,000 attendees from 120 countries to Toronto for its first-ever summer event. PDAC 2022 also received Tourism Industry Canada’s “Floor13 Business Event Award”. Critical minerals and their significance to the low carbon transition emerged as the dominant theme at last year’s event, and we expect this will be the case for 2023. Canada’s 2022 federal budget dedicated CAD 3.8 billion to the mineral exploration and mining industry, and a Critical Minerals Strategy, announced last month, included PDAC’s top recommendation to enhance the flow-through share mechanism by doubling the Mineral Exploration Tax Credit (METC) to 30% for critical minerals exploration.
What new attendees at PDAC 2023 are seeking to attract foreign direct investment and showcase their mineral production?
The Investors Exchange is a hub for junior exploration and major mining companies, mid-sized producers, prospectors, and financial institutions to connect with investors from around the world and seek out new business, and opportunities. The Trade Show is where organizations and governments showcase the world’s leading technology, products, services, and mining jurisdictions. A place to connect with decision-makers and promote brand awareness to a worldwide market. The popular Core Shack, Prospectors Tent, and exceptional programming and Short Courses will also be offered this year.
Canada is considered a third neighbor to Mongolia and the largest foreign investor, with 26% of foreign direct investment in Mongolia’s mining sector, or one in every four US dollars, originating from Canada. Can you share your perspective on the mining cooperation between the two nations?
With an enviable mineral endowment, including one of the largest underground copper mines in the world, Mongolia can help provide the critical minerals that are needed for a low-carbon future.
To be a major contributor to the green transition, Mongolia must position itself as a partner with industry – including Canada – to take advantage of the economic and social opportunities that come with it.
What are some of the most significant challenges facing mining companies worldwide? How are these challenges being addressed? What steps are being taken to overcome these challenges?
Access to land, access to capital, and access to people are key to a healthy industry and we see challenges on all fronts. Government policies, permitting timelines, and strong capital markets are a focus for engagement and alignment to provide certainty for the industry and our members when it comes to advancing projects. Despite mineral exploration and mining’s role in the success of a low carbon transition, unfavorable public perceptions – particularly within the younger demographic – have resulted in decreasing enrollment into engineering and geology courses within Canada. This poses a long-term threat to an industry that needs a constant flow of new skills and talent to replace those exiting the sector. Programs such as the PDAC’s StudentIndustry Mineral Exploration Workshop (S-IMEW), public awareness campaigns that correct myths and misconceptions, and focus on equity, diversity, and inclusion are just a few ways that the industry is being proactive about this issue.
Thank you for the interview.
Mining Insight Magazine, January 2023
