We are experiencing the largest economic transition of our times. What is the impact on business and investment within the mining sector?

The impact on business has been positive as the importance of mining in this transition is becoming more evident to a wider group. Over the past 18 months, we have witnessed the return of the generalist investor to the sector. After the initial shock of the pandemic in March 2020, the sector rebounded quite impressively and investors are actively seeking out opportunities. As an exchange, we are advocating to create an environment for Canadian companies to outperform and compete globally. We are continuing to make it easier for global investors to participate in our market, with complete transparency and confidence they are accessing the best companies in the global mining sector.

How is ESG impacting investor demands from the mining sector?

The return of generalist investors and perhaps an evolved mindset within investors in general has brought a change to how they look at companies and what they demand of companies in terms of disclosures. ESG has certainly taken a front seat. Companies that are better able to disclose ESG practices, standards and compliance to investors are getting more interest. The sector has improved significantly, if not voluntarily, out of necessity. To benchmark best practices and fast track the whole process of ESG reporting and disclosure, we launched ESG 101, an information portal for issuers, and entered into an agreement with IHS Markit to create an ESG Reporting Repository, a portal focused on providing centralized and streamlined data to investors. This creates a uniform platform where companies can upload information and investors can immediately see how they compare to peers.

How is TSX supporting companies to reach their highest potential?

We have strong mining representation, with 14 companies on this year’s TSX30 ranking. Commodity prices have fared well and investors are increasingly recognising the importance of mining, not only in macro-economic terms, but within micro-economic factors, such as expected inflationary pressures going forward. In terms of macro factors, there is a well accepted shortage of base metals expected in the near-to-medium term. These factors point to a positive future and certainly the dominance of mining in the TSX30 ranking is a sign of things to come. We are accepting our responsibility as the leading platform and main equity market for global mining. Our cornerstone is innovation and we continue to do just that with products and services to help our clients achieve their goals. Our mentorship and Growth Accelerator Programme are examples of services included in our committed support to our clients’ success.

How successful is graduation from TSXV into the TSX for the mining sector?

There are record levels of companies seeking to graduate from the TSX Venture Exchange (TSXV) to the TSX, and the average time spent on the junior Exchange has been impressively trending down. As companies advance and grow, they want to broaden the field of potential investors and opportunities. We certainly encourage it and have been very busy in meeting the increased applications of TSXV companies wanting to move to the big board. Many of the world’s leading major mining companies started out on TSXV. The high graduation rate from the TSXV not only points to the success and robust nature of our two-tiered market but also the importance of the TSXV in creating value for global mining investors. 

How has the transition to clean tech and a renewed emphasis on the environment impacted the mining industry and TSX?

No doubt the new US administration has provided a renewed focus on clean tech from investors looking to benefit. Even casual investors are taking note. Here mining is set to play a central role again. Base metals and battery metals in general are key to the electrification revolution. Interest and activity within these sub-sectors will only grow. It is encouraging to notice that the vital role mining plays in achieving global clean tech objectives is now recognized. It comes back to the fundamentals - mining has always and will continue to be integral to the advancement of civilization. Adding sustainability to how we go about the business of mining will only advance us further.