19 Jan Robert Friedland predicts ‘revenge of the miners’ in post-COVID world
Investors will flood back into the mining industry as the global economic recovery from the COVID-19 crisis drives demand for ‘green metals’, according to Ivanhoe Mines founder and executive co-chairman Robert Friedland.
The renowned mining entrepreneur declared ‘the era of the revenge of the miner’, after years of tepid investor attitudes to the space, in a keynote talk during the Association for Mineral Exploration’s (AME) Remote Roundup virtual conference yesterday.
He spoke of the ‘profound shock’ of COVID-19 triggering a realisation of the huge demand for certain metals in a post-pandemic world framed around the decarbonisation of energy and other key industries.
“People are waking up to the fact that certain elements in the periodic table are going to be huge winners,” Friedland said.
“Copper is going to be needed in massive amounts to electrify greener industries, along with minerals such as nickel and cobalt, especially with governments joining in with infrastructure investment aimed at improving the economic equality of their citizens.”
Friedland said that governments and businesses are only at the beginning of their investments in the green economy, and predicted between US$50-100 trillion will be invested in the space after the revolution kicks into gear in 2025.