In late May, the Canadian Australian Chamber of Commerce (CACC) hosted a private boardroom briefing at global law firm, Dentons in Toronto. Amid the challenges facing the Australian and Canadian mining industries, the central theme was how can companies effectively operate in a sector increasingly shaped by opportunities such as higher demand for critical minerals while also navigating geopolitical risks, trade tensions, resource nationalism and shifting regulatory landscapes?
PICTURED (left to right): Smita Challu Tulsani (Global MarTech Portfolio Leader – World Vision International), Greg McNab (Partner – Dentons), Michelle Webster (Australia’s Consul-General and Trade and Investment Commissioner, Canada), A.J. Nichols (Vice President, Corporate Affairs – North America – BHP) and Melissa Wharton (CEO – CACC)
Mel Wharton, CACC CEO kicked off the session by thanking all participants including Michelle Webster, Australian Consul-General and Trade and Investment Commissioner who provided welcome remarks. Greg McNab, Canada Co-chair of Dentons’ Mining Group moderated the discussion, with A.J. Nichols, Vice President of Corporate Affairs for North America at BHP headlining the roundtable discussion with keynote remarks.
The Boardroom Briefing was held just weeks after the Canadian and Australian federal elections. In Canada, the Liberal Party was re-elected under new leadership, while in Australia, the Labour Party secured a strengthened majority just five days later.
Pictured (left to right): Theresa Sapara (Americas Mining & Metals Centre of Excellence Lead – EY) and Michelle Webster (Australia’s Consul-General and Trade and Investment Commissioner, Canada)
As expected, the election results prompted the question of ‘what are these governments’ plans for the mining sector and how will they operationalize many of the campaign promises into action?’ In both Canada and Australia, the mining industry is a backbone of their respective economies, and a significant part of their national history and future. Industry and investors have questions surrounding greater consistency and predictability about permitting and approvals. The pace and complexity of regulatory processes, proper consultation with communities and Indigenous First nations, is a challenge, and not only unique for Canada and Australia – but for many mining jurisdictions globally as well. Given the global mobility of capital, Mining companies are closely monitoring how governments respond to the growing demand for critical minerals, particularly in relation to policies aimed at securing domestic processing capabilities. While demand for critical minerals in the short and medium term remains robust, it will be an interesting time to see how industry and governments can collaborate to bring more sustainable economic development and critical minerals to the market.
Canadian and Australian companies in the mining sector also share the challenge of finding and retaining new recruits as demand for construction as well as operational labour grows. In Canada alone, there is a projected shortfall of tens of thousands of vacancies in the next decade. Attracting talent from Generation Z will require a strong alignment with their values, particularly around sustainability and environmental responsibility.
Ongoing collaboration and knowledge exchange between mining companies in Canada and Australia will be of high value and mutual benefit to navigate current uncertainties and identifying effective solutions.
The Canadian Australian Chamber of Commerce (CACC) is a non-profit, volunteer-based organisation that aims to bring businesses together to facilitate a strong environment for economic trade and investment between Canada and Australia.
Written by Cheryl Rivers, Ontario Committee
