24 Jun Mines and Money Online Connect (APAC) day two round-up
Mines and Money’s Online Connect APAC series moved into its second day today, featuring a typical smattering of resources sector experts and executives taking part in debates, project presentations and networking sessions. Below is RGN’s round-up of day two.
Northern Australia’s resources minister emphasizes resilience of resources sector
In day two’s ministerial opening, Minister for Resources, Water and Northern Australia, Australian Government Keith Pitt told the audience that the nation faces a recession for the first time in almost 30 years, but entered the crisis from a position of strength.
“One thing the crisis has reinforced is the critical importance of the resources sector to the economy of our nation and its interests. The resources sector has shown incredible resilience in the face of the COVID-19 challenge.”
Chairman of Australia’s COVID-19 commission discusses role of mining in economic recovery
Neville Power – the Chairman of Australia’s National COVID-19 Coordination Commission – delivered an informative 10-minute presentation to the Online Connect audience on the role of mining and resources in Australia’s economic recovery, as the country continues to lift restrictions on business activity.
He expressed concern for the global economy and the impact on demand for Australian raw materials, but highlighted opportunities to develop its domestic manufacturing sector and its downstream minerals processing capabilities.
“We have the raw materials here, particularly in the battery metals space, we have low energy costs in some regions and the availability of skilled labour. We would like to target downstream processing for lithium, nickel and rare earths.”
Capitalising on the gold bull market: A five-star discussion
The Mines and Money team gathered five leading lights of the resources investment space to discuss the current gold bull market and where investors will make their money in 2020.
“We’re in a market which is extremely bullish for gold and there’s only more investors becoming interested in how they got exposure to it,” said Hedley Widdup of Lion Selection Group.
Andrew Ballingal of Ballingal Investment Advisors added that we are still in the foothills of a precious metals bull market, but that rising geopolitical and domestic tensions are setting the scene for gold to move higher.
And Kevin McElligott from gold streaming giant Franco Nevada echoed these thoughts, highlighted continuing stimulus spending as a driver of record high gold prices in almost all currencies. “If you haven’t made money from gold yet this year, I believe you still can,” he said.
Check back to RGN tomorrow for coverage of Mines and Money Online Connect APAC, day three.