The CEO of a major mining asset-management firm recently told a power breakfast for mining executives in Vancouver that he sees a “monster opportunity” for the industry to profit off Canadian mining disasters.
Rick Rule, the CEO of Sprott US Holdings, was addressing executives gathered at an industry conference organized by the Association for Mineral Exploration.
According to Business in Vancouver, the American investor pointed to examples like the 2014 Mount Polley tailings collapse as an example of how “cleaning up the messes that we’ve made historically” can actually lead to “substantial benefits”:
“There is going to be a monster, monster opportunity – how do I put this politely? – in cleaning up the messes that we’ve made historically. The opportunities that are going to become available to issuers, to consultants, to everybody in environmental remediation, environmental underwriting and environmental stewardship, while they impose a cost, also have the opportunity to impose substantial benefits.”
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