He who has the gold makes the rules
It is time for us to reflect on gold mining in Canada this year. The latest report by the World Gold Council (WGC) suggests that, if the risk of recession persists, gold could see more positive potential due to increased demand for high-quality assets. However, the strong first half for gold in 2023 is likely to give way to a more neutral second half. The report concluded that “Given the inherent uncertainty in predicting the global macroeconomic outcome, we believe that gold’s positive asymmetrical performance can be a valuable component to investors’ asset allocation toolkit.”
“When paper money systems
begin to crack at the seams, the run to
gold could be explosive.”
— HARRY BROWNE, AN AMERICAN WRITER, POLITICIAN, AND INVESTMENT ADVISOR.
According to our sister site, Mining.com, gold was positive in the first half of 2023, rising 4.93% and outperforming most other major assets, supported by a stable U.S. dollar and continued demand from central banks. The yellow metal was also sought by investors as a portfolio diversifier, particularly during the mini-banking crisis in March. It is worth noting that lithium also increased by 10.81%, making it the best-performing commodity and one of only two that recorded a positive return, but we will discuss lithium in October issue.
On the other hand, most commodities lost ground during the first half of 2023, as global manufacturing activity receded, and China’s economy delivered a disappointing rebound after the Covid-19 pandemic.
In this issue, we feature several articles that provide updates on the current major gold projects in Canada on pages 12 to 23, including a feature on the current state of gold in Nova Scotia on page 14. The issue also includes feature articles on technology, ESG, supply chain, screens, and hauling, in addition to our regular “Law” and “Min(e)d your business” departments.
Canadian Mining Journal’s October issue will discuss ESG related matters, as we focus on innovations that will lower carbon output and reduce environmental footprint. We will also have a feature report on mining in Quebec. Relevant editorial contributions can be sent directly to the Editor in Chief no later than September 7, 2023