10/97
  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Denis Frawley, Partner,

ORMSTON LIST FRAWLEY LLP

"The greening of the economy is going to reach deeply through supply chains, and that will open opportunities for projects with lower environmental impacts and stronger community support."

How has the mining industry recovered from the pandemic and what impact will the renegotiated NAFTA have on the sector?

My sense is that the mining and mineral exploration sectors have recovered, but will face important challenges and changes in the coming years. After the initial shock of the pandemic subsided, the commodities market recovered strongly and rapidly. In this new cycle, industrial metals and minerals - those used in the production of goods and equipment – seem to be leading (although precious metals remain important). With inflation becoming an important risk, perhaps precious metals will take the lead again. Nonetheless, a more broad-based increase in the price of all commodities is positive for mineral exploration and mining, even if challenges remain due to labor shortages, cost increases, climate change, etc.

The increasing electrification of the transportation system, particularly through the electric vehicles revolution, has boosted the prospects for most of the minerals used in new types of vehicles and changes to the power grid. The renegotiated NAFTA (or USMCA) appears to have fostered a healthy exploration environment in Canada for a number of industrial minerals. The changes in country of origin rules, coupled with the move of the auto sector towards electric vehicles, seem to be pushing EV companies to source a greater percentage of their components from North America. Also, the disruption of the global supply chain and the increasingly high cost of shipping during the pandemic may lead businesses to source their inputs in ways that reduce shipping costs and risks. Overall, these factors are converging to foster healthy conditions for exploration in North America.

How challenging is it to move from the TSX Venture Exchange to the TSX, and what support do you provide?

It is not terribly challenging from a regulatory perspective. As compared to the TSX, there are more granular rules to be complied with on the TSX-V. For example, most property acquisitions will trigger TSX Venture Exchange filing or approval requirements, which would not always be the case on the TSX. On the TSX, the rules are more conceptual and the thresholds triggering TSX interactions or filings are higher. Conversely, internal control and corporate governance requirements are more exacting for TSX listed companies, and reporting deadlines are tighter. This can mean that a graduating company needs a bigger board and more staff. For a TSX-V company, moving to the TSX can feel as though external operational constraints are reduced, but that internal governance and reporting structures are thickened.

We can certainly assist with preparing for that transition, from considering whether the conditions for graduating are met, to educating a client on the difference in compliance requirements, to building out appropriate internal controls and governance structures.

Have we reached a point of saturation of regulation as we move towards the fourth industrial revolution?

In recent years, securities regulators have shown a real desire to streamline rules and reduce regulatory burden, especially for juniors, which is a positive development. It is critical to regularly review regulations and their structures to ensure that the rules are right-sized while addressing risks. However, I think the biggest regulatory risk faced by juniors does not stem from securities laws. It takes too long to move a project from exploration to production; that process requires streamlining. We have to find more efficient and timely processes that still protect the environment and address the needs of affected communities and stakeholders. Not every project will satisfy all the criteria for moving to production, but efficiently identifying those that do and positioning them to advance is crucial.

Do you have any final messages to share with our readers in the mining sector?

For projects in Canada, it is fundamental that our First Nations are engaged as partners. Historically, this has not happened. Models have emerged that allow First Nations to share in the opportunity and wealth created by resource projects through ownership stakes, by leveraging projects to improve infrastructure and economic capacity, etc. That must continue, and hopefully more models will emerge. The greening of the economy is going to reach deeply through supply chains, and that will open opportunities for projects with lower environmental impacts and stronger community support.

VIEW COMPANY PROFILE

Next:

Interview: PDAC