Unprecedented capital flows are needed to build “sustainable” Western new-energy and mobility supply chains, the FT Mining Summit 2023 in London heard. While funding options are multiplying, the speed of project delivery faces other major roadblocks.
Two of the most significant ones? Knowledge and capability gaps throughout Western critical-mineral supply lines, and even between vital pieces in the industry’s shifting financial and “geopolitical chessboard”.
Standard Chartered global metals and mining head, Richard Horrocks-Taylor said even among larger diversified mining groups the ability to develop more than one or two significant projects simultaneously was limited.
“There’s a need to develop so many large copper mines over the next sort of 15-to-20 years,” he said.
“But where is the engineering capacity? Where are the people?