Can you highlight some recent developments at PDAC?

PDAC recently held a strategic planning session at Niagara Falls, where we developed our 5-year plan. We reaffirmed PDAC's purpose: To work with its stakeholders to access the land, capital and skills required to responsibly discover and develop minerals and metals.

Our foundational strategy is to connect with the hearts and minds of people outside our industry. To them, we aim to emphasize the inherent links of mineral exploration and mining to everyday life and to our transition to a low-carbon future. We are encouraged that governments and people around the world have a growing awareness of these links.

How is PDAC addressing the talent shortage the industry is currently facing?

Enhancing the competitiveness of Canada’s mineral industry hinges on cultivating a workforce that is inclusive, diverse and highly skilled. PDAC Convention addresses this priority through the Student and Early Career program, which offers individuals the chance to learn about careers in the industry, attend engaging presentations, and connect with industry professionals from around the world. 

Another pivotal PDAC program is the Student-Industry Mineral Exploration Workshop (S-IMEW). S-IMEW gives geoscience students a unique opportunity to put their education into practice before entering the workforce. The two-week, all-expense paid workshop provides students with a technical and business perspective of mineral exploration through hands-on learning and interaction with industry professionals. The workshop serves as an introduction to the various career paths available in the exploration industry.

What are the main challenges facing the industry, particularly juniors?

A paucity of capital available in the market for junior explorers is the central issue that our members are facing right now. Recognizing this fact, we have put a lot of effort into making sure our government understands how important incentives are for junior explorers and that the Mineral Exploration Tax Credit (METC) must be renewed before it expires in March 2024, and its new addition, the Critical Mineral Exploration Tax Credit, must be retained. This 15% METC credit is the only grassroots exploration incentive in Canada that applies to half of our critical mineral list and precious metals, and when combined with the flow-through shares, represents one of the primary sources of capital for Canadian mineral exploration. 

PDAC is also calling for Finance Canada to change the tax treatment of flow-through shares to appeal and spur investment from a broader base of Canadians. Our recommendation to base capital gains on the issue price of a flow-through share aims to counteract a proposed increase to the Alternative Minimum Tax announced in Budget 2023, which if enacted, will no doubt create a headwind for flow-through investments in Canadian projects.

Where else are PDAC's advocacy efforts focused?

Not only do we bring the mineral industry together at our world-class event each year, but we also work to be a respected voice for our members to the Government of Canada and, where appropriate, to regional governments in Canada and other nations. To be this voice, we respond to public consultations, we appear at parliamentary committees, and we engage directly with politicians and public servants. Some of our more recent advocacy efforts have focused on finding ways to align federal strategies to ensure they can work in concert, like our critical minerals strategy, and our commitments both to net zero carbon emissions by 2050 and to conserve 30% of Canada’s lands and oceans by 2030. 

PDAC also identifies gaps in infrastructure, recommends how public investment can boost Canada’s capacity to discover and deliver minerals, and how mineral project development can generate economic and social benefits and opportunities for communities and Indigenous Peoples on their traditional lands. 

What can we expect from the PDAC convention in 2024?

We are very excited to welcome the world back to Toronto on March 3-6, 2024, and we are anticipating a strong contingent of attendees, exhibitors, and presenters over the four days. Last March, the convention hosted nearly 24,000 people from 133 different countries, including nearly 1,100 exhibitors and 1,000 students looking to enter the industry. 

This coming March, we will be offering more than 100 hours of programming in a wide selection of technical and policy sessions, short courses, and keynote presentations.