PDAC 2022: Convention Energy Strong, Miners Rising to Meet Challenges
President Alex Christopher and Executive Director Lisa McDonald discussed sentiment at PDAC, as well as current challenges in the mining industry.
The annual Prospectors & Developers Association of Canada (PDAC) convention has now come and gone, and the official stats are in — more than 17,000 people flocked to Toronto for the three day event.
The lingering effects of COVID-19 and a date change from the typical March timing led to a lower number than usual, but the energy was strong at the convention center, with investors and companies mingling on the floor.
Speaking to the Investing News Network (INN) on the second day of PDAC, President Alex Christopher highlighted attendees' positivity and excitement for one of the industry's first major live events in two years.
"There's really great sentiment here … there's a big push with respect to metals prices, so there's a lot of excitement out there," he said. "I think we've had a great crowd."
But challenges for miners remain — Christopher praised the sector's resilience through the pandemic, but said juniors are now facing issues like access to capital and land, while for majors, finding new deposits is crucial.
Exploration companies that INN spoke with at the event also commented on the difficulty of raising money in the market today, a concern that was driven home by the turmoil that has characterized the broader markets lately.
PDAC President: Convention Energy Strong, Miners Rising to Meet Challengesyoutu.be
Christopher spoke about the ongoing conversation around environmental, social and governance (ESG) issues as well, saying that balance is key — while these principles are necessary, mining companies need to be able to move forward with permitting and development so that they can provide the commodities needed for a greener future.
"There's a bit of a balance that needs to happen here if we want to achieve this future," Christopher explained. "We have to actually get a good balance between the ability to permit and get access to those deposits against the ability to produce the metals to get us over the line."
For her part, PDAC Executive Director Lisa McDonald shared her thoughts on the challenges and opportunities associated with running the convention during COVID-19.
"We flipped to online last year, which was very successful. It's a great way to deliver content, and we were really pleased with that," she said, noting that going virtual gave attendees better access to presentations.
"We'll definitely be continuing to look at how we can incorporate (a virtual element) into our events going forward so that we can ensure that content gets out there," McDonald said, although she added that online, of course, doesn't compare to in-person events in terms of networking and business development.
Lisa McDonald: Pent-Up Excitement Marks Convention's In-Person Returnyoutu.be
When asked what keeps her excited about Canada's resource sector, McDonald said it's the people.
"I think when people think about this sector they think about rocks, and when I think about this sector I think about the people," she said. "It's a wonderful industry to be in, incredible people. And that's what keeps me here."
Click the links below for INN's recaps of the first two days of PDAC:
- Uncertainty, Recession Potential, Metals Outlook: PDAC 2022, Day 1
- Innovation, Decarbonization, the Future of Mine Supply: PDAC 2022, Day 2
You can also click here to see INN's PDAC playlist on YouTube; make sure to check back frequently, as we'll be adding more content over the next couple of weeks.
And if you're not ready for PDAC to end just yet, don't forget that the online component of the convention runs later this month from June 28 to 29.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
- Innovation, Decarbonization, the Future of Mine Supply: PDAC 2022 ... ›
- Uncertainty, Recession Potential, Metals Outlook: PDAC 2022, Day 1 ›
- PDAC 2022: Here's What You Need to Know ›