Tepid global demand for metals driven by recession fears and China’s weak economic recovery have done little to shake the belief among miners that battery materials are heading for an epic bull run.
That was the sentiment of thousands of executives, investors, government officials and bankers who crammed into a conference centre in Toronto for the past four days to showcase their assets, network and strike deals. For the event organizer, the Prospectors & Developers Association of Canada gathering highlighted the industry’s push to be part of the solution in the worldwide transition to cleaner energy.
The rush for battery metals has prompted a flurry of activity from investors not typically associated with the mining industry, including automakers and pension funds — a theme that came up during panel discussions. Governments in North America and Europe have also started making moves to encourage domestic metals production to counter China’s dominance.
“We always need to welcome those new ways of thinking about things in what is sometimes seen as a legacy business,” Trytten said in an interview. “It’s been very successful,” she said in an interview. “I’ve been targeted by a lot of people who are particularly interested in this specific industry.”
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