A fundamental choice for Critical Minerals development: "Fascism or radical democracy?"

The global demand for critical minerals like lithium and copper is surging, but how we attempt to quickly extract them, argues Katherine Teh , Executive Chairman of Spektrum Development , presents a fundamental choice: embrace authoritarian tactics that disregard communities or pursue transparent, consent-based development. In this pivotal moment, the stakes are high-ranging, from environmental destruction to lost economic potential. Which path should be chosen? Katherine Teh of Spektrum Development addressing the 2024 ACFID Conference WE ARE AT a crossroads in the energy transition. The gap between what the mining industry promises and what it delivers has been widening, creating not only delays but the potential for significant socio-economic and environmental risks. As the demand for critical minerals like copper, graphite, and lithium increases, we’re facing mounting challenges in securing these resources quickly enough to support the transition to renewable energy. The Problem...

With Erdenes-Tavan Tolgoi's IPO, Mongolians "will suddenly be rich"

Christian DeHaemer, Editor, Energy and Capital, writes:

"In the next year, there will be a Mongolian energy IPO that will make headlines around the world and increase the wealth of the average Mongolian by a factor of 53. This company is known as Erdenes-Tavan Tolgoi ... commonly referred to as TT [which] has a massive deposit of coking coal. In fact the 6.4 billion metric tons is the world's largest untapped deposit.

"As I write this, the Mongolian government is looking for an operator. It will likely be a large, multinational corporation. The last successful Mongolian IPO was Mongolian Mining Corp., which was offered up in the fall of 2010. MM's IPO was listed in Hong Kong and raised $651 million. At the time, it was Mongolia's largest privately-held producer and exporter of coking coal ...

"TT will be even bigger, and is expected to raise as much as $10 billion. Here is where it gets fun. The government has given each of its three million citizens 538 shares, or 10% of the company. At $10 billion, the shares would be worth $360 — or $193,680 per citizen. According to the CIA's World Factbook, Mongolia had a total GDP of $11.02 billion in 2010. Per capita income was $3,600.

"In other words, Mongolians will suddenly be rich."