Tuesday May 21, 2024
Unearthed: Critical Minerals and the Case for Gold ft. George Burns, Eldorado Gold Corporation
In this episode of "Unearthed," hosts Joe Cavatoni and John Reade speak with George Burns, President and Chief Executive Officer, Eldorado Gold, discussing critical minerals and the role of gold in our world. George joins Joe and John for the conversation in Toronto during PDAC 2024, the world's largest mineral exploration and mining conference, where George shares insight into the importance that critical minerals play in everyday life, as well as in the future for the energy transition. The conversation covers how gold is perceived around the world, and how its recognition as a critical mineral should be growing. George also provides an overview of Eldorado’s mining operations and shares inspiring examples of how Eldorado Gold is positively impacting the communities in which it operates. The trio also discuss another aspect of gold’s strategic importance to the world – how its unique properties make it a critical resource for the technology we enjoy today and medical innovations. George concludes with some of the hurdles that critical minerals may face due to the need for infrastructure to match the ambition of the energy transition.
[1:07] George shares his perspective on how important critical minerals are to our planet.
[2:50] George dives into gold’s role as a critical mineral and why some countries may not view it as one.
[8:49] The group discusses how gold plays heavily into the economic security arguments and the benefits it has to local communities, and George shares the impact that Eldorado Gold leaves in its communities.
[22:23] George, Joe and John share fun facts about gold.
Additional Resources:
Notable Quotes:
"Fundamentally, all the things we enjoy on this planet, that's modern, air conditioning, infrastructure, transportation, communication, none of it's here without minerals." -George Burns
"Although gold's at a record price today, funding for junior exploration companies that are going to find the deposits of the future and the mines of the future is virtually unavailable. And with a lack of development and exploration, there's going to be challenges coming forward." -George Burns
"And I think if you look back in time, gold has been the currency that's been there the longest. So I don't see it going away, I see it gaining importance." -George Burns
“Locals have been trained to be our miners and I would tell you they are our strongest advocate. They now know the real benefits that have come into their community, the jobs and prosperity it’s brought to their families, and the educational opportunities it’s brought to their kids.” -George Burns
“I think also the experience of Russia’s invasion of Ukraine has taught politicians that you can’t print your way out of a shortage of commodities and materials and that you really need the flow of these things to make the modern life that we have.” -John Reade
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on Twitter at @goldcouncil and LinkedIn.