Raymond Goldie: "The industry faces three main challenges: access to talent, land and capital"

As Canada continues to strengthen its position as a global leader in mining, the world faces the challenges of the energy transition. With the PDAC 2025 Convention just around the corner, one of the most important events in the sector, Salta Mining had the honor of speaking with Raymond Goldie, President of the Prospectors & Developers Association of Canada (PDAC). PDAC is renowned for hosting one of the world’s largest and most influential mining conventions, and the upcoming 2025 edition promises to set the stage for critical discussions on sustainability, innovation, and the future of mining in the context of the global energy transition.

During this exclusive interview, Goldie shares his vision on the key factors to maintain Canada’s competitiveness, opportunities for innovation and sustainability, and strategies to address the challenges of talent, financing, and regulatory frameworks facing the global mining industry.

He's provides a valuable insights into the key factors that sustain Canada’s leadership in mining, the role of regulatory frameworks, and the importance of fostering talent and innovation within the industry. He also shares his perspective on the challenges facing the mining sector, including access to capital, land, and skilled labor, and highlights PDAC’s initiatives to address these issues.

Join us as we delve into this comprehensive conversation with one of the leading voices in the mining industry to explore the present and future of this vital sector.

What are the key factors that can sustain Canada’s leading global position in mining?

To maintain Canada’s position as a global leader in mining, continued investment in mineral exploration is vital. We must discover new resources and replenish existing reserves. A strong and predictable regulatory framework for this investment is essential, including streamlined processes between federal, provincial and territorial governments, to reduce delays in approval of projects, and to support both responsible mining practices and Canada’s green energy transition. PDAC advocates for harmonizing federal and provincial approvals, establishing clear and predictable permitting timelines, and ensuring that regulatory bodies are adequately resourced.
Equally important is cultivating a skilled workforce through targeted education and training programs that may include partnerships with Indigenous communities. Innovation and technological advancements in mining will drive improvements in efficiency, safety, and environmental performance.
Implementing these measures will help attract investment, support sustainable development, and maintain Canada's position as a global leader in the mineral exploration and mining sector.

What is your opinion on the Trump administration set to take office in January 2025? What do you think its stance will be on the energy transition and mining?

The incoming Trump administration is creating uncertainty about the U.S. approach to the energy transition and mining. Should the U.S. streamline its permitting processes to accelerate domestic mineral development, Canada may face increased competitive pressure. Once again, I say that we must streamline our regulatory framework. 
A reinvigorated North American mineral industry could actually have some tangible benefits for Canada. For example, Canada is the only North American country that is currently able to supply certain critical minerals.  

If you could resolve one policy issue for the mining industry in Canada, which one would it be?

That policy issue would be: to secure another five-year renewal of the Federal Government’s Mineral Exploration Tax Credit (METC). Since its inception in 2000, the METC has been a cornerstone of Canada's Flow-Through Shares (FTS) regime. In the past decade, the FTS regime accounted for financing of over C$7.5 billion—roughly 70% of the funds raised in Canada for domestic exploration. Extension of the METC would provide the industry with greater certainty and stability in planning project development. This certainty would help attract additional capital, support the discovery of new mineral resources, and strengthen Canada's position as a global leader in mining.

How is PDAC addressing the talent shortage currently facing the industry?

PDAC addresses the industry's talent shortage by supporting students and early-career professionals through initiatives at the PDAC Convention and at the annual Student-Industry Mineral Exploration Workshop (S-IMEW). 
The Convention has a Student & Early Career Program with mentoring sessions and networking events to help participants gain skills and industry connections. 

S-IMEW brings together Canada’s top geoscience students for an intensive two-week workshop every spring, offering hands-on experience, field exercises, and practical exposure to mineral exploration, and fostering connections with industry leaders. By helping to bridge the gap between academic studies and professional careers, S-IMEW attracts and prepares new talent for the industry's future.

PDAC also partners with other organizations such as Mining Matters and MiHR to boost their programs and to attract the next generation of talent to careers in mineral exploration and mining.

What are the main challenges the mining industry is facing today?

The industry faces three main challenges: access to talent, land and capital.

Talent? We just talked about that.

Land? Well, regulatory complexities and competing land uses can make exploration difficult. PDAC and its members work to streamline processes and harmonize federal and provincial systems, to create a more efficient framework for exploration and development. 

Access to capital? This continues to be a critical issue, particularly for smaller companies. Initiatives like flow-through shares and the Mineral Exploration Tax Credit (METC) provide effective tools to attract investment and drive exploration projects forward.

What can we expect from the PDAC 2025 Convention?

The PDAC 2025 Convention, taking place March 2-5, 2025, at the Metro Toronto Convention Centre, will highlight themes shaping the future of mining, including sustainability, advancements in technology, and Indigenous partnerships. With over 1,100 exhibitors and more than 55,000 square metres of exhibits, attendees will explore cutting-edge innovations, the practices of leading companies, and global investment opportunities. The Convention will also feature thought-provoking programming, including technical sessions, short courses, and keynote addresses on commodities, geoscience, capital markets, and achievements in exploration. Students and early-career professionals will benefit from mentorship programs, educational opportunities, and networking events that we have tailored to support the next generation of industry leaders. Signature events at Convention are the Awards Gala & Nite Cap and the Canada Night Finale. 
The 2024 Awards Gala had a special meaning for Argentina: the PDAC gave its prestigious Thayer Lindsley award to the Lundin Group of companies for their discovery of the Vicuña district in the Andes of Argentina and Chile.

At one point, Argentina was a very anti-mining country. How did Canada work to become a mining country and foster a positive public perception of the mining industry among Canadians?

That 2024 Thayer Lindsey Award told the world that Argentina was a good place to explore. For Argentina to build on this discovery to become a global leader in mineral exploration and mining, it could follow Canada’s example by fostering strong regulatory frameworks, promoting responsible resource development, and building a mature and reliable financing ecosystem to support exploration activities. Canada’s investments in public geoscience and infrastructure have further enabled the industry to thrive and deliver significant economic benefits to communities. 

PDAC plays a key role in enhancing public perception of the sector by highlighting its contributions to sustainability, Indigenous partnerships, and economic growth. Through initiatives such as the PDAC Convention, public outreach, and advocacy, PDAC is a showcase for the industry’s support of Canada’s economic, environmental and social priorities, building trust and fostering support among Canadians.