Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Toronto, – Optimism and opportunity abounded at the PDAC 2016 Convention of The Prospectors & Developers Association of Canada in spite of recent industry challenges, indicating a positive shift in sentiment amongst the industry’s key players.
A clear sense of industry confidence was evident as more than 22,000 attendees from more than 100 countries gathered at the annual PDAC convention where investors, analysts, mining executives, geologists, government officials and students gathered for the largest exploration and mining event in the world.
“The mineral exploration and mining industry has been facing an array of economic challenges the past several years but the sector continues to demonstrate its resiliency,” says PDAC President Rod Thomas, pointing to new money coming into the industry, favourable market trends and a move to drive new and sustainable solutions to mining activities. “The mood throughout the convention was optimistic and upbeat—a positive sign for the sector going forward.”
The PDAC 2016 Convention hosted its inaugural International Mines Ministers Summit (IMMS) that brought together 16 national Mines Ministers from around the world. Led by Canada’s Minister of Natural Resources, the Honourable Jim Carr—who spoke at a series of PDAC functions—the IMMS provided an important setting for the international mining community to discuss and work on resolving issues affecting the industry. In addition, 25 Federal Parliamentarians, six Provincial/Territorial Ministers and two Premiers attended PDAC 2016.
“It is important that the PDAC builds strong working relationships not only with provincial and federal governments in Canada, but also with international governments to ensure the mineral industry continues to succeed and grow both in Canada and internationally,” says PDAC Executive Director Andrew Cheatle. “The PDAC Convention was an excellent opportunity to showcase the importance and scale of our industry to the new Government of Canada and we look forward to further building upon the constructive activities that occurred at the 2016 PDAC Convention.”
Now in its 84th year, the PDAC Convention is more diverse than ever before. A number of events, including the CSR Event Series, with a focus on diversity in the extractive industry, Capital Markets Program, Aboriginal Program, garnered overwhelming support by attendees.
PDAC would like to thank outgoing President Rod Thomas for his outstanding dedication to the association and welcome Robert (Bob) Schafer to the position of PDAC President.
We look forward to seeing you at the PDAC 2017 Convention, March 5-8, 2017: where the world’s mineral industry meets.
About the PDAC
The Prospectors & Developers Association of Canada (PDAC) is the national voice of Canada’s mineral exploration and development industry. With a membership of over 8,000, the PDAC’s mission is to promote a responsible, vibrant and sustainable Canadian mineral exploration and development sector. The PDAC encourages leading practices in technical, environmental, safety and social performance in Canada and internationally. PDAC is known worldwide for its annual PDAC Convention, regarded as the premier event for mineral industry professionals.
Contact Information
Kristy Kenny
Coordinator of Communications
416-807-8214
[email protected]
