In a recent interview, Alp Bora, Founder & CEO of Alp Bora & Co., shared his insights on the state of Canada’s mining industry, sustainability, and corporate culture. Bora expressed concern over the decline of Canada’s mining legacy and the country’s diminishing competitive edge in metal production. He highlighted the need for action to renew the industry and ensure its sustainability for future generations.
Bora pointed out that by the 1970s, Canada had already reached peak production for many major metals. Despite discoveries of new uranium, potash, and gold deposits, low mineral prices in the 1990s hindered exploration activities. A report by the Mining Association of Canada (MAC) in 2019 revealed a significant reduction in the value of planned mining projects, signaling a decline in the country’s mining sector.
The disappearance of several homegrown mining companies, such as Alcan and Xstrata, due to acquisitions by foreign entities, has further weakened Canada’s mining legacy. Bora emphasized the need for Canadian leaders to act strategically and assert control over the country’s mineral resources to compete with global players like China, which has taken deliberate steps to dominate the critical minerals market.
According to Bora, the rhetoric around Canada’s mining power does not align with reality, as the country’s mineral reserves are significantly smaller than those of China. Moreover, starting a new mine in Canada has become increasingly challenging due to the quality of deposits and logistical obstacles. Bora called for proactive measures to revitalize the Canadian mining industry and regain its competitiveness on the global stage.
Recent polling data by MAC and Abacus Data indicated a growing public support for the mining industry in Canada, with 80% of respondents expressing positive views about mineral producers. Bora underscored the industry’s role in driving economic growth and contributing to a sustainable future. He urged business leaders to prioritize productivity, investment in exploration and innovation, and advocacy for supportive policies to rejuvenate the Canadian mining sector.
In conclusion, Bora emphasized the importance of taking immediate action to renew Canada’s mining industry and ensure its long-term sustainability. He called on industry leaders to collaborate, innovate, and advocate for policies that facilitate growth and competitiveness. By leveraging technology, investing in exploration, and engaging with policymakers, Bora believes that Canada can reclaim its position as a leading player in the global mining market.
