Niall McGee / Globe and Mail » Export Development Canada (EDC) is poised to play an even bigger role in funding this country’s mining sector, against a backdrop of enormous uncertainty caused by the global trade war and the need for the industry to further diversify internationally.
The Crown corporation, founded in 1944, has been in the mine-financing business for decades. EDC provides loans, credit insurance, performance bonds and occasionally participates in equity deals. Last year, EDC provided $7.6-billion in assistance to the Canadian mining industry.
“We are actively speaking to many of the developers that are in the later stages of mine development to see if there’s a way for EDC to participate,” said Al Pritchard, EDC director of sectors, mining, who heads its critical-minerals strategy.
