What are PDAC's recent developments in 2024 and key initiatives?

In 2024, PDAC reached significant milestones, including a 10% increase in membership, bringing the total to over 8,000 members worldwide. Another key achievement was securing a one-year renewal of the Mineral Exploration Tax Credit (METC). PDAC is now focused on advocating for a five-year extension of this vital incentive to provide greater financial stability and confidence for the industry.

Attracting talent to the mineral exploration and mining industry remains a strategic priority for PDAC. One of the ways we address this is through the Student-Industry Mineral Exploration Workshop (S-IMEW), a hands-on program that provides top Canadian geoscience students with practical training, field experience and networking opportunities to complement their academic studies. Next spring, S-IMEW will celebrate its 15th edition, highlighting PDAC’s commitment to fostering the next generation of professionals in the industry.

How have PDAC's advocacy efforts been focused in 2024?

PDAC has been actively engaging with policymakers on critical issues throughout the year, including the Clean Technology Manufacturing Tax Credit, biodiversity conservation, and emissions targets. A key focus of PDAC's advocacy is expanding the eligibility and improving the tax treatment of flow-through shares (FTS) to attract more private investment in early-stage exploration projects. By including activities such as feasibility studies and environmental assessments, FTS could help advance projects beyond the discovery phase and ensure a steady flow of capital into the sector.

Additionally, PDAC is urging the government to accelerate the development of a one-window access point for the Indigenous Loan Guarantee Program. This, along with other government initiatives, would enhance Indigenous participation in the mineral industry, fostering economic growth and building capacity within Indigenous communities.

What challenges are PDAC members facing in Ontario’s mineral exploration sector?

Ontario’s mineral exploration sector faces significant challenges despite raising C$8.4 billion in equity on the TSX and the TSXV in the first 9 months of 2024. Nearly 80% of these funds were raised by only 50 companies, with 30% coming from just three large deals, leaving the many smaller exploration companies struggling to secure capital. This threatens the pipeline of future discoveries and highlights the need for equitable access to financing, a critical priority for PDAC.

Access to prospective land, capital and skilled talent remains a perennial challenge in Ontario, as it does across Canada. While initiatives like Ontario’s 2022 Critical Mineral Strategy and continued funding of the Ontario Junior Exploration Program (OJEP) are competitive advantages, they have yet to reverse the decade-long decline in the production of minerals and metals in the province. This decline signals a reduced capacity to meet the demands of downstream supply chains, particularly in industries like EV manufacturing, which rely on responsibly sourced minerals.

To fully leverage these efforts, Ontario must continue to prioritize support for mineral explorers by enabling new discoveries, funding project development, and advancing key assessments in cooperation with the federal government. The Ontario government’s focus will be essential to meeting future supply chain demands and reducing reliance on foreign resources.

What can we expect from the 2025 PDAC convention?

The PDAC Convention is the premier event for the mineral exploration and mining industry, attracting thousands of professionals, investors and decision-makers from around the globe. It serves as an unparalleled platform for networking, forging strategic partnerships and sharing insights on industry trends, innovations and policy developments.

A cornerstone of the convention is its focus on Indigenous engagement, offering vital opportunities for Indigenous people to connect with industry leaders, explore career and partnership opportunities, and discuss key issues such as Indigenous rights, land stewardship and sustainable development. By fostering meaningful dialogue, the convention helps build mutual understanding and collaborative partnerships that prioritize respect in resource development projects involving Indigenous communities.

The convention also plays a critical role in attracting new talent to the industry. Students gain invaluable access to professionals, mentorship and career guidance through events like 20 Minute Mentoring, the Student-Industry Mixer, and the PDAC-SEG Student Minerals Colloquium. Additionally, programs such as the Donald Leishman Experience provide unique opportunities for first-time attendees in geoscience or mining fields, while travel and accommodation funding ensures accessibility for student members. Through its comprehensive offerings, the PDAC Convention continues to drive growth, innovation and inclusivity in the mineral exploration and mining sector.