Prospectors & Developers Association of Canada, President Rod Thomas welcomed 23,578 attendees from over 100 countries to its annual convention. The lauded mecca for Toronto events the Metro Toronto Convention Centre (MTCC) hosted the largest exploration and mining event in the world. At age 83 the PDAC Convention hot topics were the CSR Event Series, the Aboriginal Program and the Investors Exchange reflecting the dynamic nature of the industry. PDAC membership has grown to over 9,000 individual and 1,250 corporate members. The Republic of South Africa South Africa especially featured as the Government of Canada signed a memorandum of understanding, MOU for co-operation in mining and mineral development.
PDAC’s stated mission is to endorse a responsible, vibrant and sustainable Canadian mineral exploration and development sector. To that end PDAC is embracing the news of Finance Minister Joe Oliver and Natural Resources Minister Greg Rickford announcement of the Harper Government’s latest action to support the Canadian mining industry. The Mineral Exploration Tax Credit was referred to as the “lifeblood” of junior mineral exploration. Our modern society needs metals and minerals and relies on explorers to find new discoveries that will lead to the development of the next generation of mines,” says Gavin C. Dirom, President & CEO of AME BC. “The extension of the Mineral Exploration Tax Credit and the allowance of Canadian exploration expenses to include environmental studies and consultation costs will help encourage more investment in mineral exploration and the potential discovery of new mineral deposits throughout British Columbia and every region of Canada.” The caveat is that, the tax credit is very specific and targeted with a strict time line of adherences, and all applicants do not meet its criteria. Its ideal is for flow through funding not easily achievable for most.” PDAC member Pretivm Corporation.
Rod Thomas of PDAC fame, talks on the future of investment in China, “China is a vast country and economy and over the past 20 years has made tremendous growth and consumes 50% of the metals produced globally and Canada is a global leader in mining and exploration.” Thomas expands, “We had a bull market from 2001 – 2011 but over the past 3 years we have seen commodity prices falling off. In terms of investments many believe now is the time to invest in commodities. Thomas, gazing into an imaginary crystal ball, predicted that, “ 2015 is going to be difficult year with improvements not being apparent till next year.”
Michelle Romero of Pretivm, is a great PDAC success story and underscores Thomas’s words, time does tell. In 2014 Zijin Mining with CEO Mr. Shaoyang Shen was looking for Gold. Robert Quartermain hadBrucejack Project in northern British Columbia a high-grade gold underground mine. They met at PDAC 2014 and C$80,872,004 history was made. Romero explains, “Beyond the rules and regulations, it was the science and the ticking of all the relationship boxes in which the Aboriginal Program was key that got us to be a near term mining production on line in 2017. Rare but it can happen.” Zijin Mining will produce give or take a few million 7,674, 200 of Troy weight over the 18 year mine life. Deals like this are what China is all about. It all has to make a whole lot of dollars and sense.
A great example of long term relationships is the one of a shared power resource. China is a world market leader for uranium and nuclear technology. The Canada-China Expanded Memorandum of Understanding on Nuclear Cooperation exists to broaden cooperation in nuclear activities. Canada is the world’s second largest uranium producer accounting for about 22% of world output. China’s extended history of nuclear energy partnership and cooperation with Canada bodes well for a long term future. China has 22 nuclear power reactors in operation, a further 26 nuclear reactors under construction, and several others being proposed. Projects stemming from Canada and China’s ventures, CANDU includes approximately 170 Canadian companies.
Written By_ Cristoph De Caermichael