Canada’s increased government funding and protectionism are boosting outlooks compared with rising geopolitical risks in foreign countries, according to a new KPMG survey of industry executives.
Nearly 80% of mining executives are optimistic about the wider industry’s five-year growth prospects, up sharply from 62% in KPMG’s last global survey in 2022, the business consultancy said on Thursday. The risk of operating in foreign countries is increasing, 78% said.
“The picture is of a confident industry who are used to navigating the challenges,” Heather Cheeseman, KPMG’s Canada mining leader, said in the report. “Especially among critical minerals businesses, this confidence may have been boosted by the Canadian government’s increasingly protectionist stance in terms of foreign takeovers.”
Community relations, commodity prices, access to capital and the permitting process remain among the top concerns of executives, the consultancy found. During July and August, it surveyed 100 companies valued from $100 million to more than $10 billion. They included operators, exploration and development companies, mining service providers, and mine finance companies. Most were in Canada and more than half were in precious metals.
Geopolitics
“Geopolitical uncertainty has become more acute in recent times given various trade tensions, regional conflicts and a spate of political elections around the world, all of which have the potential to impact the value chain in various ways,” KPMG says.
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