In this 7 min Metal Matters podcast, we discuss 1) why strong free cash flow hasn’t yielded many new project approvals, 2) China’s steel production cuts and capacity offshoring, and 3) why the countdown to the COP26 Summit will keep the focus on metals involved with the global energy transition over the next three months.

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/B52119E4-D910-43C8-9A5F-72FD7F2107FA.PDF

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

The mining industry doesn’t always have a reputation for being an early adopter of leading-edge technology. But innovations will be increasingly important to offset cost inflation and improve mining efficiency and safety in the future, as new mines will generally be increasingly lower grade and higher cost. Ore sorting is one technology that is likely to make a meaningful impact on the mining industry. Pre-concentration can eliminate low grade or otherwise uneconomic material before the expensive and energy-intensive downstream processes.

Metals & Mining analyst Jackie Przybylowski is joined by Anthea Bath, chief operating officer at Ero Copper, and Marie-Claude Halle, CEO and principal consultant at Unearthed Consulting Inc., to discuss the opportunities and risks of ore sorting technology.

BMO clients can view our IN Front report, “Ore Sorting: Not a Quick Fix, but a Long-Term Solution”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/c3b805f4-968f-4b7c-b88c-16459ac4da58/

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/F67EB2AA-18A1-4D5E-A69F-F3B66A8CFB8D.PDF

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

We recently invited Will Hess and Song Gao from PRC Macro to discuss with us their outlook for the Chinese economy in the second half of the year, and the potential implications for commodity markets as the economic growth rate starts to slow.

Presentation slides: https://research-ca.bmocapitalmarkets.com/documents/752B6C7D-C872-4233-80BC-B40E12DDF1E8.PDF

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/4D76577A-BC69-4CA6-BBB2-7145C2C3AECB.PDF

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (6 min) Metal Markets podcast, we discuss what metals and mining producers are doing with strong free cash flow, the potential for copper supply disruptions amid Chilean labour negotiations and what would happen to commodities in the event of another China lockdown as Delta-variant cases spread.

BMO clients can view our report, "Dialing up DRI Developments", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/9082e43b-76e1-4d5c-9973-ddc6da064a6d/

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/544C860D-9B96-4350-AF4A-317B777C8D05.PDF

To access our full disclosures, please visit: 

https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Members of the Canadian and US REIT research teams discuss their recent IN Front report which addresses the rapid growth of property technology (PropTech). The team also discusses the state of the REIT landscape as we emerge from the COVID-19 pandemic and, lastly, the team offers their respective top picks in the US.

BMO clients can view our report, "PropTech: The Next Frontier in Commercial Real Estate", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/6414940b-1b38-4739-a131-af9d48c1b8a5/

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/BD9F2140-7003-4446-9DF2-BB23302C4025.PDF

To access our full disclosures, please visit: 

https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (7 min) Metal Matters podcast, we discuss whether the recent RRR cut signals a Chinese policy change which could influence commodity markets, moving forward the first Fed hike, steel production cuts in China and why Europe’s carbon border adjustment mechanism is just a stepping stone.

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/132C274D-CDFC-4E2F-B7DE-4B1BF484D9D0.PDF

To access our full disclosures, please visit: 

https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

As equity markets head into the second half of 2021, the following podcast provides an update on our forecasts for both the US and Canadian stock markets, with particular attention on the secular bull market in the US, Canada’s consistent performance, and the transition to more fundamentally driven portfolio management.

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/8E7041BD-9C39-4CEB-83A4-030509E14121.PDF

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In our inaugural Metal Matters podcast, we consider China’s SRB base metal sales, met coal market tightness, cost inflation and our latest commodities outlook.

BMO clients can view our report, "Q3 2021 Commodity Price Update - Beyond the Inflationary Bottleneck Bonanza", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/b115acb0-9b85-452b-b1c2-197536e25703/

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/132C274D-CDFC-4E2F-B7DE-4B1BF484D9D0.PDF

To access our full disclosures, please visit:

https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Oil & Gas Thematic Analyst Jared Dziuba discusses the BMO Energy Research Team’s latest IN Front report: “Survivor Canada: The Unparalleled Position of Canadian Oil in a Transition Challenge.” Against commonly held views, we engage in a thought-provoking discussion about why the Canada’s oil sands business is poised to maintain long-term production, and potentially gain market share in a net zero, energy transition world. Jared points out that Canada and its oil companies have practiced ESG since before it was even a “thing,” and why they are poised to maintain a faster pace of improvement than industry. He further explains how oil sands bitumen is distinctly unique in both its extraction and makeup, which provides transition opportunities not available to other sources of oil and supports its longevity in the global supply chain. Finally, Jared suggests that there is meaningful investment opportunity in the “underdog,” as the stocks of Canadian producers have been disproportionately affected by sustainability concerns, despite our findings to the contrary.

BMO clients can view our report, "Survivor Canada: The Unparalleled Position of Canadian Oil in a Transition Challenge", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/0da735b3-5b1c-4496-a91b-4e15583f2ff8/

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/A02B1E8C-0334-46FD-8AC7-AC74AE1D3083.PDF

In this podcast, Sohrab reviews the Canadian banks’ second quarter results, makes the case why Canadian banks should be outperformers in the next year or so, and draws investors’ attention to Outperform-rated BNS, CM, and NA.

To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/