Good question.
The major issue is that it takes a long time to explore a deposit in order to develop a resource. That's the first step.
Obviously, many pieces of legislation and regulations pertain to the environment. Many studies must be conducted. This takes a long time. I don't know exactly how we could easily reduce the time required to start a mine.
If we were in China and we had a resource, we wouldn't need to comply with regulation 43‑101 on mining project information. We could start mining tomorrow. China has the great advantage of being willing to accept risk. In our system, it's much harder for companies to take risks.
There are currently many barriers. Perhaps the government can take steps to alleviate these barriers. It could review all regulations concerning mining and see whether any provisions could be removed without affecting the environment, and it could do so quickly.
The issue stems in part from an incident that occurred in Indonesia in the 1990s. A small Canadian company, Bre‑X, broke all the rules and ended up creating a huge disaster. I don't know whether you're familiar with this case. Ultimately, Bre‑X had no resources on its land, even though many people had bought shares in the company thinking that it had significant resources. It was a serious issue. That's why rules were added to regulate the mining sector. Perhaps some of those rules could be removed.
