The production of critical minerals is at the front of everyones minds, and the race towards decarbonization is becoming more important than ever.
The Industry's Best Party Is Coming Up
Headed to PDAC this year? Become a part of the Mining Futurist party today!
- 🎉 The Industry's Best Party Is Coming Up
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🎉 The Industry's Best Party Is Coming Up
March 5th at 7pm
Heading to PDAC this year? For the third year in a row, we're excited to bring together brilliant minds from across the mining industry for our #MiningFuturist party! If you're an investor, producer, supplier, or any other type of #miningfuturist, we want you to see you there!
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🎧 On The Rocks
📰 In The News
Rio Tinto Plane Crash
In the wake of the recent plane crash in Canada's NWT that claimed the lives of six individuals, including dedicated workers from Rio Tinto, our hearts and thoughts are with the families, friends, and colleagues affected by this tragic event. Despite being a global industry, the mining community is small, and we mourn this loss. We extend our deepest condolences, holding space for the cherished members of our community who are no longer with us.
Supply Chain In Mining: The Race For Critical Raw Materials
The U.S. Inflation Reduction Act and the EU's Critical Raw Materials Act are major steps toward securing critical mineral supply chains needed for the energy transition and reducing reliance on China. The acts incentivize domestic mining, processing, and recycling through tax credits and production quotas. While presenting opportunities for mining companies, they also pressure the industry to rapidly scale up capabilities. Streamlined permitting aims to accelerate projects but risks inadequately managing environmental and social impacts. Interestingly, deep seabed mining remains eligible under the acts, offering a way to diversify sources of critical minerals, but this is controversial given ecological concerns. Overall, the new regulations exemplify the mineral security race between major powers, though their success relies on reforming outdated laws and sustainable mining practices.
How Miners Can Pass Their ESG Exams
The mining industry has faced a growing emphasis on ESG (Environmental, Social, Governance) data and disclosure, leading to challenges for miners who must navigate various frameworks and acronyms. Reporting under multiple frameworks, especially for those operating in different jurisdictions, has become resource-intensive, often diverting attention from meaningful ESG performance. The demand for detailed ESG data has led to a focus on scoring, but the author argues that such scores often lack context and fail to provide a comprehensive understanding of a miner's true ESG strategy, risks, and impacts. The piece questions whether the current approach to ESG data truly drives improved performance or if it has become a mere "exam-passing" exercise, highlighting the need for a more context-driven and narrative-based evaluation of ESG performance in the mining industry.
AME Roundup: BC’s First Critical Minerals Strategy Has Some Asking: ‘Is It Enough?’
British Columbia launched its Critical Mineral Strategy, proposing 11 actions to boost the mineral sector and attract investment. Premier David Eby highlighted the province's crucial role in climate change efforts. Initiatives include a critical minerals atlas, collaboration with First Nations, and a project advancement office. However, the Mining Association of British Columbia (MABC) expresses concern over the strategy's lack of a competitive fiscal policy, citing potential barriers from the new output-based carbon pricing system. The government allocated C$3.9 million for critical mineral geoscience initiatives and formed a critical minerals advisory committee. While seen as a positive step, the MABC emphasizes the need for competitiveness to attract investment. The B.C. Ministry of Energy, Mines, and Low Carbon Innovation is tasked with refining the strategy with a C$6 million budget over three years.
A Roadmap For Green Metals After A Brutal 2023
Despite the early 2024 market rally, stocks in the "green mining" sector continue to lag, raising concerns about a potential turnaround. Recent negative news, including Wyloo Metals' shutdown of nickel operations, job cuts and reduced capital expenditure by Albemarle, and insider selling at Pilbara Minerals, further dampen the outlook for the sector. The decline in green metal stocks in 2023 was attributed to the high costs of mega renewable energy projects and mining developments amid a hawkish monetary regime. Former Goldman Sachs commodities chief Jeff Currie suggests a potential return of "green" metals in 2024 due to expected rate cuts. The observation is based on the idea that capital-intensive green energy projects face challenges in an economy grappling with rising living costs. However, geopolitical tensions and uncertainties pose challenges to a smooth recovery in the green metal market. Despite risks, opportunities may arise in 2024, especially with global elections prompting governments to focus on extravagant infrastructure announcements, potentially benefiting the renewables sector.
⚒️ Mining Data Digest Snapshot
Company: Norse Gold Corp
The Yellowknife Gold Project is located 75 km north of Yellowknife, Canada and consists of three mining leases and seven mineral claims covering 3230 hectares. The project targets orogenic-style gold mineralization associated with shear zones and faults within Archean turbidite sequences. Exploration has focused on the Main Zone, where historical drilling outlined gold-bearing quartz veins within a 600m long altered diorite sill. Additional exploration is recommended, including compilation of historical data, prospecting, mapping and channel sampling, to further assess the project's potential. The property has seen no mineral resource estimation or production to date.
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