The gold mining industry risks being ignored by large pension funds and other investors if it cannot justify the environmental impact of its activities, according to one of the sector’s most influential fund managers.
Speaking at an industry conference on Wednesday, BlackRock’s Evy Hambro said that people could more easily see the need to dig giant holes in the ground to mine energy transition metals such as copper and nickel — but that the case is less clear for gold.
“I think when it comes to other commodities that don’t play that role, it becomes much harder to justify why you’re having to do the digging in the first place,” Hambro said at the Mines and Money conference in central London.