Critical metals give mining back its groove, says Venturex boss Bill Beament
Bill Beament thinks mining is about to become sexy again (reports The West Australian).
6th August 2021
Resoruces Rising Stars
Speaking at the Diggers & Dealers Mining Forum in Kalgoorlie-Boulder, the former Northern Star Resources boss said the industry was changing its image as commodities like copper, zinc and silver became “critical” to deliver greener technology and energy solutions.
Mr Beament, who last week took the helm of Pilbara base metals exploration play Venturex, said companies around the world had already committed to decarbonisation and energy targets and were now finding ways to meet their goals.
“(The mining industry) will actually become sexy, because we’re going to need those critical elements to achieve what everyone has committed to,” he said.
Mr Beament said his recent experience tapping global markets for cash was evidence of where investors now wanted to put their money.
Venturex holds the Sulphur Springs copper-zinc project near Marble Bar, which will run as an underground mine. Mr Beament said investor appetite for such assets was growing because their carbon footprint was significantly lower.
He said about 70 per cent of emissions from underground mines came from power generation and that would be reduced as renewable energy became more accessible. In contrast, about 35 to 40 per cent of emissions at open pit projects came from the haulpaks.
“Naturally, things have to go underground ... they have a natural advantage on an ESG (environmental, social and governance) front,” he said.
Mr Beament also announced Venturex planned to change its name to DEVELOP, pending shareholder approval.
“I want to lead a new-age mining company ... the new name reflects that,” Mr Beament told The West Australian. “We want to develop our people, our projects and help other companies to decarbonise.”
The mining figure said there was plenty of potential to partner with other companies and expand in the future, but for now the focus would remain on Sulphur Springs.
“We’re not going to lose focus on that, because that is a cracking asset,” he said.
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