Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A poll conducted by Ipsos on behalf of the industry coalition known as Task Force for Real Jobs, Real Recovery, states that eight in 10 Canadians agree that ‘natural resource development is good for Canada,’ while 13% disagree.
The study used a sample of 2,000 adults, who completed the survey from March 17 to 22, 2021. According to Ipsos, their responses were statistically weighted by region, age, gender and education to ensure the sample composition reflects that of the actual Canadian population, according to census data.
The respondents said that it is unlikely that 50% of Canada’s energy mix will be made up of renewables in the near future
Poll results also showed that 83% of the respondents believe that ‘Canada’s natural resource sector is an important contributor to the Canadian economy today,’ while 10% disagree.
When it comes to the economic recovery post-covid-19, 73% of the participants responded that investment in the country’s natural resource sector will help to rebuild Canada’s finances, while 15% opposed such a view.
“Canadians do not accept the idea that the natural resource sector is becoming less important to the national economy,” the study reads. “Only about one-third (32%) of Canadians agree that ‘Canada’s natural resource sector is less important to the economy than it has been in the past’ (56% disagree). And a similar one-third agree that ‘Canada’s natural resource sector will become less important to the economy over the next 10 to 20 years’ (51% disagree).”
The respondents also said that it is unlikely that 50% of Canada’s energy mix will be made up of renewables in the near future.
“Very few Canadians (12%) think that renewables can provide a majority of Canada’s energy in the next 10 years. The largest proportion of Canadians think the transition will take either 20 years (28%) or 30 years (22%). Another two-in-ten (19%) think the transition will take 40 years or more, while 18% are undecided,” the report reads.
