Inflation, war, volatility, and uncertainty – these are the current topics of discussion from the White House to your local barbershop. The 2020s are certainly shaping up to be a decade of change, both on a micro and macro level. Changes are occurring that will impact everything from consumer habits to the way that supply chains are created and managed.
As a company that is focused primarily on mining consulting projects in the United States, with many being mineral exploration projects, we are seeing the beginning stages of a major shift towards increased domestic production of materials ranging from construction aggregates to battery minerals and even energy fuels. It isn’t a secret that current global conditions are driving nations across the globe to seek domestic supplies of key materials and minerals, but we can confirm that it is actually happening from a boots on the ground perspective across the United States.
Over the last several months, the Burgex team has traveled across the United States and internationally from Vancouver to London, speaking with mining executives and decision makers about their projects and current industry trends. Almost every segment of the industry from energy fuels to battery minerals, base metals, and precious metals is experiencing increased prices and pressure to expand resources. Thermal coal, for example, is up over 200% year-over-year (YoY). Critical and battery minerals are up even higher, lithium is up over 400% YoY and cobalt up over 60%. Precious metals have been performing more modestly but are expected to soar as inflation takes hold along with an increasingly likely global recession.
On the ground in the United States, a flurry of activity is occurring across the mineral exploration spectrum. Exploration drill rigs are difficult to book and increasingly harder to keep staffed. Mining claims are being staked by the hundreds or even thousands a day. Analytical labs have long backlogs and turnaround times listed in months instead of weeks. While operating conditions have gotten more difficult in these aspects, the companies that have exploration projects of merit in the United States, like are in an excellent position to take advantage of a rotation of capital and investment back into the commodities sector. Those who position themselves early and can obtain quality assistance and resources to advance their projects steadily, are set to succeed as this cycle progresses.
Burgex Inc. is preparing to ramp up operations and continue delivering excellent service and fast turnarounds through expanding our in-house capabilities and team. We are pleased to announce that we have recently hired another staff geologist, two additional Landman and GIS specialists, and another field technician. The Burgex team now has three full-time geologists, five GIS and land professionals, a mining engineer, and several mining consultants and analysts able to assist with projects ranging from mining claim staking through exploration program planning and management, soil sampling, UAV data collection, underground and surface LIDAR collection, technical and geological report writing, valuations, mining engineering, and more. As a qualified, experienced and honest team Burgex Inc. is ready to leverage our talented team and help you with your next project.