Sure. Thank you very much.
Mining can do a lot in the campaign that we all have to make to move away from a fossil fuel-based economy to a more sustainable clean energy economy. One of the problems of mining is that it requires baseload energy. That means energy 24/7. Typically wind and solar, for example, are intermittent forms of energy, so renewable energy isn't ideally suited to mining operations. However, it can be an adjunct, especially in places where mines rely on diesel power, which is typically imported from far away. It is expensive power. You can decrease the cost of that using the new reality of renewable energy, which is that it's competitive with almost every other form of electricity generation.
Costs are coming down quickly in those businesses, and this is just good business. Almost every mine that I know of is looking at putting in renewable energy as an adjunct to their existing forms of energy generation, electricity generation. It's just good business to do it. It decreases your costs. To the extent that Canada and other countries impose a price on carbon, it will make it even better business to do. Most companies understand that's likely to happen in the future and are taking action now to try to reduce their carbon footprint across the board.
One big way to do that is to bring in wind power, solar power, and hydro power to the extent it's around and available, as well as other forms of electricity generation. They are also trying to reduce the use of energy, which requires more innovation. These sorts of innovations are driven in part by government policy. If Canada imposes a price on carbon, you're going to see a lot of innovation by companies to find ways to reduce their energy footprint, and alternative forms of energy that don't use carbon.
This is one of the direct results that will come from that kind of policy.