Getting big things done

Donald Savoie’s next book is going to be about how hard it seems to get big things done these days in Canada. I believe his focus is on the federal government but I would argue it extends more broadly.

There was an excellent article in the Globe this weekend entitled “How Canada – and Bay Street – squandered the chance to finance the critical minerals revolution”.

This article is partly a throwback to the era when Canada was a global mining giant but I came away from it still wondering why we are not doing more to accelerate critical minerals mining in Canada, and in this region. Why don’t we do more upfront spade work to help identify the minerals in the first place? Why don’t we consider other ways to de-risk early stage development? Why not expedite timelines?

I know this is a complex file. Mining capital is particularly skiddish because of the huge upfront outlays, the length of time before projects start generating any cashflow and the shifting sands of regulation and public opinion.

But everybody keeps talking about mining and we continue to see little movement to the point of frustration.

When I google mining and “New Brunswick” I get some ‘hits’ including:

• Nine Mile Metals to Drill Wedge Project, Bathurst Mining Camp, New Brunswick

• SLAM Exploration Acquires New Niobium Critical Mineral Project (Miramichi)

• Puma Exploration samples 362 g/t gold at TIMM project (Williams Brook)

• Northcliff Resources Settles Loan (related to the Sisson Mine project)

Maybe something is happening in New Brunswick?

Not sure there tends to be 1-2 stories per month referencing some early stage project or another in New Brunswick but the GDP from mining continues to collapse every year. Now with Caribou going into receivership, who knows how much serious focus mining will get in the years ahead.