PDAC 2015: Robert Friedland is bullish, especially on the metals he owns

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Legendary mining entrepreneur Robert Friedland is an eternal optimist on metal prices, so it was no surprise that his speech on Sunday was the most bullish of the day. When he told the audience that urbanization is the “most profound phenomenon in the history of our species” and will drive commodities for years to come, people barely blinked. It was exactly what they expected him to say.

But it was hard not to notice that Mr. Friedland put a particular emphasis on certain metals. He talked a great deal about the use of platinum, noting its importance in vehicles powered by hydrogen fuel cells. He was also very hot on copper, talking about a huge China-Russia high-speed rail project that will require massive amounts of the red metal, among other commodities.

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Mr. Friedland’s company Ivanhoe Mines Ltd. owns vast deposits of copper and platinum.

Mr. Friedland’s speech was entertaining as usual. He reminded the audience that he is getting into the film business, and joked about making a movie to counter Avatar, which portrayed the mining industry as evil incarnate.

“Every single person deserves to consume the way Americans do. And Canadians,” he said. “Ladies and gentlemen, you can’t do it without mining.”