Some mining executives across Canada are concerned with how mining in this country will be financed.
Northwestern Ontario expert John Mason notes investors need to feel confident, and this can be a problem with junior exploration companies.
“We’re seeing some grassroots projects, some of them are still stalled, that can’t raise the cash. In other words, they don’t have a deposit, they’re just an occurrence, a showing in the ground, and they need some initial capital to accelerate that growth,” says Mason.
Mining officials were in western Canada recently warning that government needs to be more proactive.
Finding people to work in Canadian mines also appears to be an issue for industry leaders.
“It’s the highest paying sector out there, in terms of the industrial sector. But in terms of Canada’s population growth, there’s some challenges there. So, the Indigenous community, immigration, local people are all part of that solution,” says Mason.
Mason points out a lack of infrastructure in northern Ontario could also slow down what progress is being made, such as a lack of roads and keeping existing roads maintained.
“But also the electrical transmission piece. A part of that’s going to be addressed with the Watay power piece, the East-West Tie line, but there are other areas like Red Lake, Greenstone, where we still have antiquated transmission.”