Wood's Global Expertise: Adapting for Canada’s evolving mining sector

For six decades, Wood has been on the frontlines advancing Canada’s mining potential. Boasting resources for more than 60 minerals and metals there is no shortage of opportunity in country. As pressure mounts to increase exploration and delivery for commodities which will be critical in enabling green technologies, the nation’s approach to mining has evolved.

As leaders in driving efficiencies for our global remit of clients, we are working alongside mining majors across Canada to ensure their operations are running at optimal capacity. Leveraging our expertise and deep domain knowledge, we are implementing data driven solutions for our mining clients across Canada. Recently, Kris Homer sat down with Global Business Reports to discuss Wood’s vision for the future of mining in Canada and how we are evolving to meet changing needs across the sector.

Can you introduce Wood’s work in the mining sector?

Wood has over 60 years of history delivering complex mining projects and operational support worldwide. We conduct mineral resource estimating, studies, mine planning services, mineral processing, and refining across all major commodities and the entire life cycle of a mine. Wood has global subject matter experts across the globe, and clients appreciate our ability to add value to their projects.

A few years ago, we developed our ‘Capital Efficiency Program’, which focused our engineering work on reducing capex and increasing value in the early stages of a project. Our key tool is ‘Zero Based Design’ to align stakeholders and set the stage for design criteria. It is an extensive checklist that looks at all areas of mine efficiency, from equipment redundancy to levels of automation.

In Canada, we have four minerals and metals hubs that have delivered over 2,000 projects, 180 of which are in Ontario. We completed several studies and disclosures on Vale’s Victor-Capre mine, Generation Mining’s Marathon project, and a PEA on McEwen Mining’s Grey Fox complex, to name a few. Wood has also completed projects across other provinces in Canada, including Saskatchewan and BC.

What challenges are impacting Wood in the current market?

Fluctuations in the commodity markets, particularly volatility in the lithium price caused by over-saturation of the market, have affected our work over the last couple of years. This has caused mines to be delayed or canceled. However, that being said, it is a key mineral in the green transition and continues to be a player in the space. Also, we are seeing the demand from China for critical minerals being weaker than expected, which pushes down the price and creates uncertainty for investors.

From a geopolitical perspective, the threat of tariffs from the US and a potential reduction in funding for critical minerals is something we are watching closely. Many of the world’s most populous nations have gone to the polls this year, and we expect these political changes to continue impacting the mining industry.

Permitting continues to be an issue, with the timelines to get permitted being excessive. This impacts our work at Wood as projects can be sidelined while awaiting permits, meaning our teams working on these are stunted in the work they can complete.

How can companies become more efficient when developing projects?

Mining companies tend to be conservative when it comes to electrification, and I think they need to become bolder when it comes to embracing the technology and innovation that manufacturers offer. They should celebrate digitization, energy efficiency, and decarbonization. More needs to be done to lower carbon footprints and environmental impacts in mining, and there are advanced carbon capture techniques available to help our industry reach carbon neutrality.

These technologies are not cheap, and so asking mining companies to implement these on their own can be difficult. Governments need to step in more and contribute funding to make the energy transition successful.

We have seen a trend in construction of companies bringing in contractors at an earlier stage, although this is not consistent as some want to keep their bidding competitive for the best price.

Can the permitting process be expedited responsibly?

I think that the process of review and approval can be accelerated without cutting corners. The announcement from the US is a positive step, and although it is possibly more aggressive than what Canada can consider, designating mining as the vital industry it is. Speeding up permits is not about cutting corners but rather contributing responsibly to helping mines get going.

What is Wood’s outlook for mining in 2025 and beyond?

For Wood, 2025 and beyond will be about bringing decarbonization solutions to our clients, combining advisory and technical expertise to design and deliver solutions. We are looking to bring solutions around the use of battery-powered machinery and generating renewable energy at more mine sites to increase their efficiency. A push for data-driven solutions means all need to drive to keep up with our clients, the industry, and what society demands from mining. Wood empowers clients in this field throughout the entire asset lifecycle to optimize schedule and cost. Addressing the labor shortage is a key element of our service as we look at increasing autonomy and remote operations in the industry.