Video News/Digging Deep

Joe Mazumdar, Editor of Exploration Insights, says global bond-market stress, rising debt costs and geopolitical uncertainty should keep support under precious metals, while higher rates raise the cost of capital for mining projects. Speaking with Kitco Mining’s Digging Deep on September 3, Mazumdar said Barrick’s Reko Diq copper project in Pakistan shows why the mega-projects needed for future copper supply are becoming harder to build. Mazumdar said security risk, capital intensity, infrastructure demands and long permitting timelines are weighing on large-scale development, as miners reassess where they are willing to deploy capital. He also discussed the Andean copper and lithium alliance between Peru, Chile, Argentina and Bolivia, permitting wins in Yukon, Oregon and Arizona, First Nations consultation battles in British Columbia and Ontario, and U.S. efforts to secure critical minerals for drone warfare. Mazumdar also weighed Project Vault, processing bottlenecks, tungsten economics, and why large financings for Magna Mining, Thesis Gold and Radisson show capital is still flowing to lower-risk jurisdictions.