More than 17,000 people converged on Toronto for the first PDAC mining conference in two years.After two years of webinars and meetings, investors, mining executives and market analysts were able to meet for the first time face-to-face at the world's largest mining conference in Toronto, Canada.According to the Prospectors & Developers Association of Canada, more than 17,000 people attended its annual convention this week, the first time it was held since March 2020.The mineral exploration and mining industry faced a variety of challenges during the pandemic, and yet its significance and resilience has remained admirable, and that was announced at the PDAC 2022 Convention.Along with its regular conference, the PDAC hosted the seventh annual International Mines Ministers Summit (IMMS) in partnership with the World Economic Forum. The meeting brought together 20 Ministers responsible for mining from around the world to discuss the industry's role in reducing global emissions.According to analysts, investor sentiment in the mining sector remains favorable as producers continue to increase their cash flow in a solid gold price environment.Looking at trends in the marketplace, analysts said that they expected to see more merger and acquisition activity throughout the year.According to Fahad Tariq, precious metals analyst at Credit Suisse, another major theme during the conference was the mining sector's commitment to improving their Environment Social Governance (ESG) policies.Panelists emphasized how mining provides significant economic benefits to local communities through employment and direct community investments.In a separate address, the CEO of a senior gold company linked consolidation and ESG together, noting that in order for companies to dig up harder-to-access deposits in an environmentally friendly way, more partnerships are needed in the sector.There were also discussions on critical battery metals that are needed for electrification and decarbonization, and how Canada is well-positioned on that front.
FX.co ★ Mining industry faces variety of challenges
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Mining industry faces variety of challenges
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