TORONTO (miningweekly.com) – Despite attendance at the 2016 Prospectors and Developers Association of Canada’s (PDAC’s) yearly convention being estimated at just over 22 000 – the lowest in four years – a renewed sense of optimism could be found within the cavernous halls of the Toronto Convention Centre this week.

Attendance levels were indicative of the damage done to the global mining industry in the wake of sharply lower prices for most commodities. This year’s attendance was a far cry from the 30 147 visitors in 2013, and significantly below the 25 122 visitors in 2014, and 23 578 visitors in 2015.

“The mineral exploration and mining industry has been facing an array of economic challenges over the past several years, but the sector continues to demonstrate its resilience. The mood throughout the convention was optimistic and upbeat – a positive sign for the sector going forward,” stated PDAC president Rod Thomas, pointing to new money coming into the industry, favourable market trends and a move to drive new and sustainable solutions.

Delegates from more than 100 countries attended the show, the largest of its kind in the world, including investors, analysts, mining executives, geologists, government officials and students.

Meanwhile, the PDAC 2016 Convention hosted its first International Mines Ministers Summit (IMMS) that brought together 16 national mines ministers from around the world. Led by Canada’s Natural Resources Minister, Jim Carr, the IMMS provided an important setting for the international mining community to discuss and work on resolving issues affecting the industry. In addition, 25 federal parliamentarians, six provincial/territorial ministers and two premiers attended the event.

Further, PDAC president Thomas made way for Robert (Bob) Schafer to take the reins as the new incoming PDAC president.