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19/07/2023 – Mining / IMARC / Canada / Australia / Resources / Event / Conference

Canada and Australia: Critical drivers of global mining excellence
Canada and Australia: Critical drivers of global mining excellence

Australia and Canada have a lot in common when it comes to mining and resources, and are critical to the industry’s global transformation, according to speakers at upcoming IMARC 2023.

While both countries are mining super-powers in their own right and are supplying a significant percentage of the resources needed for the global energy transition, they are also using their leadership to guide the global industry’s transition to a sustainable future.

Australia and Canada are recognised as the two largest exploration destinations in dollar value terms, with stock exchanges that reflect the enormous contribution mining and resources makes to each economy.

Similarly, both countries offer substantial and relatively untapped resources, conducive investment environments, supportive governments and well-established plans for the development of the critical minerals needed for the global energy transition.

Because both Canada and Australia have a long history of operating in complex environmental and social contexts, they also have extensive experience in sustainable practices and meaningful engagement with First Nations peoples and local communities.

Leading the transformation

This strong, shared focus on ESG principles and a commitment to contemporary mining practices have seen Canada and Australia emerge in the past decade as key leaders in the global industry’s response to the challenges facing mining globally.

Carl Weatherell, CEO of the Canada Mining Innovation Council (CMIC), says the leadership of mature mining countries such as Canada and Australia are critical to achieving the mining industry’s global environmental goals.

“In order to reduce the mining industry’s energy use, water use and environmental footprint by 50 per cent by 2027, the major players have not only an opportunity but a responsibility to work together on innovations that reduce waste, lower costs and mitigate environmental impacts across all aspects of exploration and development,” he advised.

“Canada and Australia are global leaders in the mining industry with decades of experience and innovation behind them, so they have a natural role in leading mining’s transformation to a more responsive, sustainable and resilient industry,” Mr Weatherell continued.

“It’s incumbent on the two countries and their companies to work together to redefine and rethink the future of the industry in terms of how we collaborate, who we collaborate with, and what we work together on,” he added.


Mr Weatherell stressed that while the global mining industry is of course competitive by nature, it also has a shared destiny, and by necessity has pursued active collaboration on shared challenges, particularly around decarbonisation. “We call this ‘co-opertition’ and it is one of the reasons events like IMARC are so important when it comes to pursuing these shared goals,” he pointed out, adding that he believes Canadian and Australian mining operators and innovators have long understood the need for a co-operative effort toward a more efficient, sustainable industry, recognising that these goals can only be achieved if all stakeholders sign up to a clear vision for the future and work towards it together.

“The mining and resources industries in Canada and Australia are leading the way when it comes to embracing the decarbonisation challenge and lending their expertise and experience to countries where they invest,” remarked Mr Weatherell. “As we like to say, net zero is easy; zero is hard. But through exporting their leadership and best practice globally, Australia and Canada are playing a key role in meeting the challenge.”

The same, but different

From an investor perspective, Canada and Australia are considered low-risk jurisdictions, with policies and regulatory settings that welcome, encourage and incentivise exploration and development, particularly of the resources needed to fuel the global energy transition.

As members of the former British Commonwealth, both countries share a similar legal heritage, providing a level of comfort when it comes to assessing risk and a pragmatic approach to managing the energy transition. 

Principal and Founder of BRIDGE©, Siri C. Genik, noted that while both Canada and Australia are young countries that offer investors stable jurisdictions, strong legal frameworks, and respect for the rule of law, there are also differences which can impact on the risk appetite for investors.

“We certainly see a consistent approach to issues such as health and safety, environmental and stakeholder management, EDI, governance and more broadly sustainability. Both countries demonstrate best practices in respect of human rights and a commitment to managing the industry’s carbon footprint,” Ms Genik observed.

“There are common core values and opportunities for greater investment, but there are differences between both countries, including permitting processes and timelines, and different risk appetites and investment approaches,” she continued.

BRIDGE’s founder pointed out that Australian companies – from mine operators to exploration and METS companies – are looking to Canada as a key source of the critical minerals needed for a renewable future such as copper, nickel, lithium, and graphite.

One such company is the Andrew Forrest-backed Wyloo Metals, which is expanding its operations in Canada with a focus on nickel and copper. Wyloo Metals CEO Luca Giacovazzi said the company’s investments, particularly in the establishment of a world-class Future Metals Hub in Ontario, underscore his belief in Canada’s long-term potential to be a globally relevant producer of reliable and responsibly sourced battery metals.

“Canada has a once-in-a-generation opportunity to establish itself as a major player in the new economy,” Mr Giacovazzi remarked. “Our proposed Future Metals Hub provides the cornerstone for a globally relevant battery material supply chain in Canada, while creating economic opportunities for local communities to thrive.”

But according to Ms Genik, while investment in Canada is at healthy levels, fewer Canadian companies have been investing in projects in Australia. She said this may be a reflection of a global mining and resources industry in transition, with older investment paradigms being challenged and new alliances being formed, particularly around resource supply resilience. 

Despite this, the executive noted this shift in globalisation also represents opportunities for Canadian and Australian companies. “There are new relationships and alliances being formed as nations are increasingly wanting to stand on their own and – to the extent they can – be more self-reliant and work with partners with shared values,” Ms Genik noted. “It’s not just the Russia-Ukraine situation that is driving this, but you're also seeing similar trends across Asia and South America, creating new opportunities for investment for countries like Canada and Australia.

“As the EU is striving to ensure increased sustainable value chains for all products being included in the goods they manufacture, it has been an important game changer. They have adopted a number of very stringent sustainability requirements and regulations that all players in the industry will need to meet if they want their products to be included in products manufactured or assembled in the EU,” she advised, adding that other nations are also striving to meet these requirements.

“The appetite is still there, the investors continue to seek a return on their investment, but not at any cost, and not always seeking instant gratification,” she continued. “Markets are much more fickle today and more complex, with geopolitics creating challenging dynamics for investors. We are seeing investor expectations go beyond the value of the asset and focusing on an holistic approach to the company. Investors want to make sure that they're understanding and including these non-technical risks and that they understand what impact and purpose is.

“The opportunity for Canada and Australia is to continue to position themselves as sustainable leaders to be successful in this era of shifting and transition,” Ms Genik added.

Canada comes to IMARC 2023 in Sydney

Canada will continue its long association with the International Mining and Resources Conference (IMARC) being held in Sydney, Australia this year with a delegation promoting the country’s vision to be the leading mining nation in the 21st century.

The delegation promises to be the largest ever, and includes Canadian companies showcasing their products and services to the global mining and resources market, particularly in the Asia-Pacific region, and a team from Global Affairs Canada promoting investment opportunities for companies to establish or expand their operations in Canada.

The Senior Investment Officer at Global Affairs Canada, Bertrand Raoult, said Canada provides a highly competitive value proposition for investors. “Canada is a global mining leader, producing over 60 minerals and metals, and home to advanced exploration projects for lithium, rare earths, and other critical minerals the world needs for a cleaner future,” he noted. “We have strong mineral exploration, mining and mineral processing sectors, and these are attracting downstream manufacturing, as we are moving toward vertically integrated supply chains,” he reported.

Mr Raoult highlighted Canada as one of the most mining-friendly jurisdictions in the world, and one that supports the sector through generous programmes and incentives, competitive tax policies, a rich innovation ecosystem and Free-Trade agreements that give investors access to more than 50 markets. 

“But it is perhaps our environmental, social and governance expertise that truly sets Canada apart from competitors,” he noted. “Thanks to generous programmes, our minerals and metals sector industry is adopting clean and cutting-edge technologies to make mining and processing greener, safer, smarter, and more efficient. As a result, Canada has one of the lowest ESG risks across global mining projects on average – performing particularly well in categories such as water usage, community engagement, conservation and governance.”

The Canadian Critical Minerals Strategy highlights the importance of mining and resources to the nation’s global competitiveness and prosperity. The industry accounts for 626,000 direct and indirect jobs, and is the largest employer for Indigenous Peoples and 19 per cent of Canada’s total domestic exports, and approximately $47 billion in mineral production come from mines and quarries across all regions.

“Canada’s vision,” said Mr Raoult, “is to responsibly develop its geological resources, including critical minerals, advance the participation of indigenous peoples, ensure sustainable mining and rehabilitation practices, drive world-leading innovation, build community support for sustainable mineral development and attract underrepresented groups to this high-tech sector that is key to a green economy.”

The International Mining and Resources Conference (IMARC) returns to the ICC Sydney from 31 October – 2 November 2023. As one of the world’s largest and most influential mining events, IMARC creates a global conversation that attracts some of the most influential leaders in the mining, investment, and METS for three days of learning, deal-making and unparalleled networking.

IMARC’s Chief Operating Officer Anita Richards said IMARC 2023 is the ideal opportunity for countries like Canada to attract investment, showcase their expertise, and engage with mining and METS companies, investors and suppliers, in order to collaborate and develop business opportunities. 


She said it was particularly encouraging to see large delegations from the resource-rich Canadian provinces of Ontario and Quebec, which demonstrated the importance that not only national but state and local governments are placing on IMARC as a key forum for investment attraction. “In fact, we are seeing a similar trend with Australian state governments, who will also be at IMARC 2023 in unprecedented numbers, focusing on the unique opportunities that each offer,” she revealed.


“For its part, Canada has a great story to tell about as a stable and attractive destination for global investment in the resources the world needs for a cleaner future, and the expertise and leadership it can offer to a transitioning global industry,” Ms Richards said. “IMARC is designed to provide a forum to explore these opportunities and to showcase the best and latest knowledge, innovation, and growth that benefit the whole value chain. 

“Standing alongside Australia as one of the world's largest mining nations with significant role in the future of resources, Canada has always been a strong partner of IMARC throughout our 10-year history, and we are delighted to welcome them back once again.”

IMARC’s early-bird deal for delegates ends on 28 July. Industry Networker readers can claim an additional 10-per-cent discount off the ticket price by using the code: IN10

For further information on IMARC, one of the world’s largest and most influential mining events, go to:

Latest issue – Vol 1/23
Lead stories
– Mining & Minerals focus
– IMARC post-event report
– Responsibly resourcing - Future Minerals Forum pre-event report  
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