International Council on Mining and Metals (ICMM) chief operating officer Aidan Davy has identified four future trends for the mining sector in a YouTube interview conducted at the Prospectors and Developers Association of Canada event (PDAC).
Asked to identify themes for 2018 in the metals sector, the COO pointed to four identifiable areas to consider: climate change, ‘resource nationalism’, the rise of ethical, consumer-facing companies and gender.
When pressed to identify the most important of the four, Davy explained that while they were all “critically important”, climate change offered a particularly strong opportunity for the industry.
“I think the initial entry point around this was very much looking at it through a risk lens,” he explained. “What is changing now is the conversation increasingly is one around what is the role of this industry in looking at the transition to a low-carbon future?
“That is very different for the mining and metals industry than oil and gas. Oil and gas is arguably faced with an existential crisis by the increasing attention around climate change, whereas for this industry there’s a huge opportunity.”
Davy went on to explain that macro metals producers of commodities such as lithium, cobalt and nickel could benefit especially well from the “transition to a low-carbon future”.