Of Interest, a quick summary of this section that is interesting...

Of Interest, a quick summary of this section that is interesting ..

Here's a summary of the conversation about Western miners and exploration from 3 minutes 55 seconds to 7 minutes 59 seconds:

• The discussion was spurred by a report from S&P analyzing exploration and development costs in the copper world [03:28].
• The discovery rate of world-class copper deposits has been declining, despite the increasing need for copper in the electrical transition [03:41].
• New capital sources from the Middle East and China have capitalized on new discoveries, particularly in Africa and South America [04:12].
• This capital hasn't necessarily flowed into traditional TSX or ASX Juniors, and major companies seem hesitant to develop deposits in remote areas [04:42].
• The graph of discovery success in the last 10 years is described as "miserable," with only a handful of world-class copper discoveries [05:04].
• Permitting and approvals are taking longer, disincentivizing majors and pushing capital towards brownfield expansions [05:26].
• The timeline for taking a discovery to building a mine has increased, now averaging about 17 years in the copper industry [06:12].
• It's questioned how the industry can double copper mining in the next 20 years if mine development takes 17 years [06:27].
• Big companies generally prefer stable jurisdictions but are now extending into places like Argentina and Mongolia [06:45].
• The real gap is the funding into the junior sector, leading to fewer discoveries [07:13].
• BHP's acquisition of Filo in South America is mentioned as an example, suggesting similar moves if there's a discovery in Africa [07:19].