https://www.miningweekly.com
Business|Coal|Copper|Cutting|Energy|Infrastructure|Mining|Projects|Resources|Water|Environmental|Infrastructure
Business|Coal|Copper|Cutting|Energy|Infrastructure|Mining|Projects|Resources|Water|Environmental|Infrastructure
business|coal|copper|cutting|energy|infrastructure|mining|projects|resources|water|environmental|infrastructure

Governments must speed up mine permits to meet transition needs - Teck CEO

Jonathan Price

Jonathan Price

2nd June 2023

By: Reuters

  

Font size: - +

LONDON - Governments need to speed up permitting of new mines to boost their chances to meet a surge in demand for minerals vital to feed the clean energy transition, Teck Resources CEO Jonathan Price said on Thursday.

"Across government and industry, there is growing awareness that supporting the low-carbon transition and our growing population means meeting new demand for critical minerals," Price said, speaking at the Canada-UK Chamber of Commerce in London, where Teck opened an office last year.

"And that means working together to get new mines online faster."

Price's remarks come as Teck tries to fend off an unsolicited and unwanted takeover bid from London-listed mining giant Glencore GLEN.L, while reworking a plan to separate its copper and zinc business from the steelmaking coal unit that failed to secure enough shareholder support in April.

As pressure rises on mining companies to procure minerals needed to build electric vehicles and infrastructure, approvals for new mines can take from 2-3 years to more than a decade. The yawning divide between Western countries' and China's approaches to funding supply chains is becoming a top concern for policymakers.

Canada, where Teck has its primary listing, last year pledged to review the permitting process with an eye on cutting the time required to bring mines online by avoiding duplication and ensuring early Indigenous consultation and engagement.

Mining companies are hyper alert to concerns opposing projects that might destroy sacred land or gobble up water and other resources essential to the livelihood of local communities.

"Miners need to do a better job not just meeting, but exceeding ESG (Environmental, Social, and Governance) expectations to justify getting new production online faster," Price said.

"If you (a mining company) don't have a strong ESG track record, you simply won't get the necessary support of governments, communities, and Indigenous Peoples needed to operate and grow," he added.

Edited by Reuters

Comments

Showroom

Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024
Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.145 0.184s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: