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Day 3 of PDAC Convention 2024: Fostering Global Mining Innovation and Investment

March 6, 2024
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Prospectors & Developers Association of Canada (PDAC)

By Jamie Hyland for MiningIR.com

Toronto, ON — March 6, 2024 — The third day of the Prospectors & Developers Association of Canada (PDAC) Convention, held in Toronto, continued to showcase the dynamic and evolving landscape of the global mining industry. As one of the premier events for mineral exploration and mining worldwide, PDAC 2024 provided a comprehensive platform for stakeholders across the sector to converge, share insights, and forge partnerships aimed at driving the future of mining.

The Investors Exchange was a focal point, serving as a vibrant hub where over 300 junior exploration companies, alongside industry giants such as Barrick Gold Corporation, BHP, Kinross Gold Corporation, and Rio Tinto, interacted with investors from around the globe. This interaction highlighted the convention’s role in connecting prospectors, mid-sized producers, and financial institutions with opportunities for growth and investment, demonstrating the vast potential of the mining industry to stakeholders and investors alike.

Ontario Premier Doug Ford (FordNation) and members of his cabinet made their presence felt at PDAC, touring the Investors Exchange and the trade show floor. Their objective was to engage directly with industry members, understanding firsthand the needs and challenges faced by the sector, and to discuss how the government can support the mining industry’s continued growth and success. This engagement underscores the government’s commitment to fostering a conducive environment for the mining industry to thrive.

Premier of Ontario, Hon. Doug Ford and Government of Ontario Cabinet

“Our government has an ambitious critical mineral strategy that will unlock Ontario’s economic potential, bringing new investments while supporting better jobs and bigger paycheques.”

Premier of Ontario, Hon. Doug Ford

A significant highlight of Day 3 was the participation of Government of Yukon Premier and Minister of Economic Development, Honourable Ranj Pillai, along with a delegation of Yukon officials. Their presence underscored the Yukon’s position as a leading mining jurisdiction, recognized for its rich mineral resources, progressive regulatory environment, and strong collaboration with Yukon First Nations. Premier Pillai’s engagements with federal ministers and industry leaders including Manitoba Premier Wab Kinew, Ontario Premier Doug Ford, Northwest Territories Premier R.J. Simpson, Deputy Prime Minister Chrystia Freeland, Minister of Innovation, Science and Industry of Canada François-Philippe Champagne, Minister of Export Promotion, International Trade and Economic Development Mary Ng, and Minister of Energy and Natural Resources of Canada Jonathan Wilkinson, emphasized the territory’s commitment to fostering investment, sustainable mining practices, and the development of critical minerals essential for the global green energy transition.

Honourable Ranj Pillai, Premier of Yukon and Deputy Prime Minister, Honourable Chrystia Freeland

“The Yukon is widely regarded as an appealing jurisdiction for mining and mineral development due to its abundant natural resources, progressive regulatory environment and collaborative approach to working alongside Yukon First Nations. The annual Prospectors and Developers Association of Canada conference is an excellent opportunity for the Yukon to show the mining potential of our territory to the international community.”

Honourable Ranj Pillai, Premier & Minister of Economic Development

In an important announcement, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, unveiled federal investments exceeding $15 million dedicated to enhancing Indigenous participation in the mining sector and supporting Canada’s critical minerals strategy. These initiatives, including the launch of the Critical Minerals Infrastructure Fund and funding for seven mining projects under the Indigenous Natural Resource Partnerships program, mark a significant step towards inclusive and sustainable mineral development.

Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources

“Critical minerals are a generational economic opportunity for Canada — from mineral exploration and extraction to advanced manufacturing to processing and recycling, we are making investments across the value chain. Canada will continue to make these strategic investments in important projects and Indigenous communities to help enable and grow the sustainable development of these minerals, reinforcing Canada’s position as a global supplier of choice for clean technology, clean energy and the resources the world needs to build a prosperous net-zero economy”.

The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources 

The day’s agenda was packed with insightful presentations and workshops, covering topics from critical public geoscience research to the latest advancements in mining technology and sustainable practices. The GEOVIA Connect 24X user Conference, McKinsey & Company’s session, and discussions on refractory gold processing and the economics of the Northern road link to the Ring of Fire, among others, provided valuable knowledge and networking opportunities for attendees.

The Core Shack presented a unique opportunity for companies to display their latest discoveries and developments, offering a tangible glimpse into the future of mining exploration. This interactive showcase allowed participants including Transition Metals Corp. (TSXV:XTM), SPC Nickel Corp. (TSXV:SPC) and Endurance Gold Corporation (TSXV:EDG) to witness firsthand the potential of new exploration projects and mineral deposit drill cores samples shaping the industry’s landscape.

Transition Metals Corp. & SPC Nickel Corp. & Endurance Gold Corp.

Sustainability and diversity were also central themes, with sessions dedicated to building trust, fostering inclusive cultures, and navigating the complexities of mining in remote and Indigenous communities. These discussions reflected the industry’s growing focus on responsible mining practices and the importance of collaboration with local communities and stakeholders.

As the PDAC Convention progresses, the momentum continues to build, with Day 3 encapsulating the vibrant spirit of innovation, collaboration, and investment driving the global mining industry forward. The Yukon’s showcased potential, combined with the federal government’s commitment to supporting Indigenous participation and critical mineral development, highlights the convention’s role as a catalyst for positive change and progress in the sector.

The PDAC Convention remains a cornerstone event for those committed to advancing the mining industry, offering a platform for dialogue, discovery, and development that will undoubtedly have a lasting impact on the future of mining worldwide.

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Disclaimer
MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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