In the April INK Edge Top 20 Mining & Crypto-equities Report published on April 29th, we wrote about the likely positive impact of the Canadia election on the mining industry. Below is the excerpt from the report.
While there are pros and cons to a minority government, for the mining industry in Canada it could turn out to be a fortuitous outcome. A minority parliament will keep the heat on newly elected Prime Minister Carney to deliver on his campaign pledges, and one of those promises was faster approvals for mining projects.
Wins will not be easy for the Liberal government with a minority in parliament, but all the main political parties in Canada agree on faster permitting approvals. That leaves mining as an area where Mark Carney can score some political points. That said, many if not most mining permit delays are at the provincial level, and it remains to be seen if Mr. Carney will devote the energy needed to build national momentum on promoting mine development.
Mr. Carney also appears to take a multi-lateral approach to foreign relations which has the potential to support Canadian miners as they invest abroad. Will he even be willing to allow China to invest in the mining sector again? Time will tell.
On balance, the mining industry won the Canadian general election, and industry participants should make the most of it by continuing to apply pressure on Ottawa to vigorously pursue a pro-mining agenda.
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