INDUSTRY BULLETIN: Avalon actively participates in World Bank launch of Climate-Smart Mining Facility
Avalon Advanced Materials’ President and CEO, Don Bubar, was honoured to be invited as a panelist to the World Bank’s launch of the Climate-Smart Mining Facility, in Washington, DC, during its Minerals for Climate Action Conference on May 1, 2019.
The Climate-Smart Mining Facility will support the sustainable extraction and processing of minerals and metals to secure supply for clean energy technologies by minimizing the social, environmental and climate footprint throughout the value chain of those materials.
Mr. Bubar was on the “Leveraging Innovation to Create Market Opportunities for Critical Minerals” panel, which discussed how to de-risk mining investments; what roles innovation and new partnerships can play; and how public and private sectors can work together to maximize the impacts for sustainable development.
Mr. Bubar’s remarks focused on the challenges that junior companies are having in accessing venture capital to fund the work needed to begin creating these new critical minerals supply chains. Mr. Bubar comments, “Many in the audience were shocked to realize that access to venture capital was so challenging, and there is little or no support being offered by end-users in these supply chains to facilitate access to capital.” Many attendees subsequently offered to assist in creating opportunities to access the venture capital needed by companies like Avalon.
To realize a lower-carbon future, there will be a substantial increase in demand for several key minerals and metals to manufacture clean technologies. For example, in addition to traditional metallic commodities such as aluminum, copper and nickel, electric vehicle technology will require new supply chains of more obscure mined materials such as lithium, cobalt, vanadium, scandium, indium, rare earth elements and graphite.
The World Bank’s Climate-Smart Mining Facility recognizes that sustainable mining of these critical minerals is essential for mitigating the effects of climate change. Diversification of supply sources is critical to maintaining these supply chains, as the world was reminded last week by China’s threatened actions on rare earths.
Canada can best contribute to a cleaner environment by creating new sustainable domestic mineral supply chains that enable more clean technology manufacturing in Canada. Avalon is pleased that the Government of Canada recognizes this opportunity and is committed to advancing climate-smart mining, at home and abroad. Paul Lefebvre, Parliamentary Secretary to Canada’s Minister of Natural Resources, the Honourable Amarjeet Sohi, also attended the conference, and emphasized the role of Canadian minerals in providing the building blocks for clean technologies throughout the world. Mr. Lefebvre outlined Canada's support for sustainable mining and highlighted the World Bank’s goal of advancing developing countries’ sustainable mineral and metal extraction and processing.
Many of the best opportunities to develop these new critical minerals resources are in remote undeveloped parts of Northern Canada near Indigenous communities. Establishing these new critical minerals supply chains offers exciting new economic and environmental improvement opportunities to historically impoverished Indigenous communities in the climate-smart, mineral-rich regions of the Canadian Shield, particularly in Northern Ontario and Quebec.
Given the geo-political environment and expanding needs for electric car battery materials and other clean technology materials, the world has recognized that the efficient supply chain development and utilization of these strategic materials can both protect the environment and protect national security interests.
Avalon Advanced Materials is among a small group of emerging companies that are identifying their own strategic resources and process solutions to create new supplies of critical materials that can support international security and efficiencies in alternative clean energy and communications.
According to Mr. Bubar, “Avalon’s long-standing commitment to sustainability and social responsibility puts the company in a unique position to utilize its strategic resource inventory to help create a more efficient, sustainable supply chain for critical materials from the primary resource to the end-use customer.”
For more information, please visit the company’s website at www.AvalonAM.com; or, for questions or feedback, email Avalon at [email protected].
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on developing its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS to production, while continuing to advance its Nechalacho Rare Earth Elements asset. Social responsibility and environmental stewardship are corporate cornerstones.