Global exposure is important for mining firms

Mining companies which operate in several countries and have interests in more than one mineral may face the best chance for success.

Robert Needham, executive chairman of the Australian firm Giant Resources, told a luncheon sponsored jointly by the Prospectors and Developers Association of Canada and the Toronto branch of the Canadian Institute of Mining and Metallurgy, that rather than dealing with one large “window of opportunity,” mining companies in the future will find themselves taking on smaller projects in different parts of the world.

Gold, he said, is no longer the only game in town; he specifically named lead, zinc and copper as minerals whose futures appear to be on the upswing.

Giant Resources is the parent firm of Pamour Inc., a former gold producer turned holding company which controls Giant Yellowknife Mines, erg Resources and Pamorex Minerals. Giant Resources is also the minority shareholder in Curragh Resources, which operates the Faro lead-zinc mine in the Yukon.

While excellent oppportunites were available in Australia early this decade for mining companies, Needham said times have changed and similar potentially profitable opportunities may now be found in Canada and elsewhere around the globe.