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& Developers Association of Canada (PDAC) International Convention are nailed into place, there are indications both that the convention is looking at another successful year, and that the mining and mineral exploration sector is doing well.

The official attendance figure for the 2010 PDAC International Convention was 22,000, an all-time record, and it appears that a similar number will attend in 2011.

The Investors Exchange of more than 600 exhibitors is fully booked again this year as is the Trade Show, which houses more than 340 exhibitors. Convention sponsorship, which has remained strong throughout the past few years, is again increasing as new supporters are stepping forward. The demand from convention attendees for international pavilions and workshops is also increasing every year.

Although we are still feeling some of the after-effects of the global financial crisis, the minerals industry has made readjustments and is starting to rebound. Foreign investment, primarily Chinese, has financed much of the recent activity. 

The gold price surge, stronger silver, base metal and uranium prices and the increased demand for rare earth metals, following China’s internal rationalization of production, are all helping to rebuild this sector. Flow-through financing is also gaining favour again with investors.

The economic impact of the crisis for much of the world’s population, especially the less fortunate, has unfortunately been severe. Unemployment has increased dramatically in many nations as governments try to balance deficits, and this has fuelled much social unrest in many parts of the world. 

Some of this unrest is being directed against the exploration and mining industry, which some long-time critics have charged is destructive and not contributing its fair share to local communities. Canadian companies, being the most prolific, have become preferred targets, even though they have been some of the most proactive in the development and application of corporate social responsibility (CSR) practices in the industry today. 

What more can and must we do to convince the world that as Canadian companies, we conduct exploration and mining activities in an environmentally safe and sustainable manner to the benefit of all stakeholders?  

Much of the PDAC’s advocacy work has been directed toward this goal. The association has: contributed to international associations; lobbied politicians; educated members and communities; worked with First Nations; and developed and distributed the association’s e3 Plus CSR framework for responsible exploration and its accompanying health and safety manual. 

Even more than last year, it is imperative that companies develop strategies to address issues such as CSR, societal acceptance, benefit sharing, resource nationalism, access to financing, local skills shortages, research–innovation needs, lack of new discoveries, lack of global guidelines and standards, transparency, political instability and terrorism.

On the international scene, there have been significant changes in the minerals industry during the past few years, most of these on the Asian front.

China has increased its outbound investment activity, both engaging in joint ventures and mergers and providing project financing — a considerable amount of this financing being directed toward exploration in Canada. More recently, China has set aside funds to support updating internal geological mapping and mineral exploration activities. 

Attendance at Chinese trade shows has shifted from Canadian companies looking for projects to Canadian companies looking for financing and joint venture partners. India is now also actively seeking foreign investment in its exploration and mining industry, as are other Asian countries such as Indonesia, the Philippines, Malaysia and Vietnam. 

As of June 3, 2010, the Hong Kong Stock Exchange has adopted international guidelines based on the Joint Ore Reserves Committee (JORC) guidelines for listing mining compa