While delivering a keynote speech at the AME Remote Roundup, Robert Friedland, the co-chair and founder of Ivanhoe Mines, stated that the mineral mining and exploration sector would benefit greatly from worldwide electrification.
He explained that at the moment, the natural resource industry was in an up-cycle, and it wouldn’t be until 2023 onward that the world would be fully centered on a $50 trillion to $100 trillion venture to electrify the global economy.
Friedland stated that global electrification would have to start from the ground up, changing how electrical energy is not only stored but also how it’s distributed and generated. He further explained that the demand for copper was growing, given that the metal is an electrical conductor with many uses in power distribution, power transmission and power generation.
Friedland then gave the example of Tesla, a company known for manufacturing electric vehicles (“EVs”), mentioning that the company was entirely dependent on nickel and copper. He stated that the nickel and copper used by the firm had to originate from somewhere, adding that with the counteracting pressure on companies in the mining industry to meet the strict Environmental, Social and Governance standards (“ESG”), it would become both difficult and interesting to mine properly.
Friedland asserted that it was possible to mine in not only a better but also a more responsible way. He maintained that to do so, the mining industry would have to find a way that applied to all aspects of the natural resource industry including reclamation, tailings disposal, construction, development and exploration.
Friedland, a member of the Canadian Mining Hall of Fame, went further, stating that it wasn’t only how the natural industry sourced minerals that was being revolutionized but also where they mined and the individuals employed in the industry. He noted that the industry would not be made up of old white men only but would include women as well as persons of every description, race and color, thus making the industry diverse.
On the topic of pollution, Friedland stated that everything would be priced in reference to its ESG components. He then explained how every product would be priced based on how much carbon is created in the production of the said commodity.
In addition to this, Friedland remarked that British Columbia had a lot of exploration potential, particularly around Kamloops, up in the Golden Triangle. He revealed that it would be possible to mine consciously in the area, if those involved came to a friendly, long-term alliance with the original Aboriginal landowners.
With regard to global economic recovery, Friedland noted that higher metal prices would be observed across the board, in both base metals and precious metals alike.
Still in Canada, several mining firms are enjoying a good run. For instance, GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) has acquired five Northern Chile gold properties. And with gold prices hitting an all-time high last year, their bull run is still on.
NOTE TO INVESTORS: The latest news and updates relating to GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) are available in the company’s newsroom at http://ibn.fm/GHVNF
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