The second day at the conference and technology exhibition, Mines & Technology in London, organized this year with Mines & Money, started with a debate about the global mining industry's current situation.
The participants were asked to answer ,"whether companies should have to feel optimism today or to be worried?".
Panel debate, in which George Cheveley, Portfolio Manager at Investec Asset Management, Andrew Lindsay, Director, London Office, Antofagasta, Richard Horrocks-Taylor, CEO, RBC Capital Markets, Joe Wickwire, Portfolio Manager, Fidelity Investments, took part, was moderated by Graham Dallas, from business development - EMEA, TSX & TSX Venture Exchange, TMX Group.
In summary, the participants agreed that the image is consistently positive. There is a particular need for copper, cobalt and lithium that remains global at a high level. Demand for iron and steel is high as well. However, in terms of accelerated industrial recovery, it may in some countries, including China, also cause massive environmental degradation.
Much is related to developments in electrical mobility and energy storage and the expansion of wind and solar power. At the moment, new huge solar parks are being planned in many so-called Tiger states and also in some developing countries.
In the case of lithium and copper, however, we may see more of supply shortcomings in future. This deficit can become global.
Richard Horrocks-Taylor pointed out that, on the other hand, lithium and copper portfolios for many companies are far too limited. Therefore, in spite of increased needs, it may be difficult for the shareholders, to motivate new, more extensive investment in this area.
