Global Precious Metals Conference 2024: Miami Reflections
hank you to all delegates, speakers, sponsors and exhibitors who attended the Global Precious Metals Conference in Miami.
An Informal Networking Reception and Welcome Reception on Sunday 13 October kicked off the programme of events, followed on Monday with opening remarks by Paul Fisher (Chairman, LBMA). Paul set the scene for the Conference, during which he spoke about plans to donate to the American Red Cross disaster relief fund, in acknowledgment of the devastation caused by Hurricane Milton in the week before the arrival of delegates.
John Cullen (LPPM Chairman and Director, Johnson Matthey Plc) explored how PGMs play a key role in the transition to Net Zero, while Ruth Crowell (Chief Executive, LBMA) discussed LBMA’s strategic objectives – including a new strategy pillar on strategic partnerships – and urged delegates to join our coalition of the willing to support a sustainable precious metals market across the entire value chain.
Gideon Rose (Senior Adjunct Fellow, Council on Foreign Relations) and Sir Sherard Cowper-Coles (Senior Advisor, HSBC Holdings) joined Rhod Sharp (BBC Emeritus) to discuss geopolitics, with a conversation exploring the growth in China, potential outcomes following the presential election in the US such as tariffs concerns, how increased globalisation creates increased domestic turmoil and the impact of this on the social contract.
Three more sessions followed on Day One, covering investment perspectives in a session moderated by John Reade (World Gold Council), reasons to be cheerful about platinum group metals moderated by Tim Murray (Johnson Matthey), and why gold still matters to central banks with representatives from the Central Bank of Mongolia, Czech National Bank, and Banco de México, expertly moderated by Terrence Keeley (Impact Evaluation Lab).
Champagne roundtables literally rounded off the day, with discussions spanning topics such as the automotive industry, silver, trading, AI, gold investment, and the growing importance of minor PGMs.
A keynote address from Robert Armstrong (Financial Times) got Day Two off to a strong start as the self-confessed gold sceptic discussed gold’s performance over the last 30 years and how it’s held its value and then some.
Robert then retained the stage to welcome a panel including Mario Campos (Codelco Tech), Victor Flores (Verum Metalla Advisors) and James Luke (Schroders) to explore the challenges and opportunities in mining. They discussed ESG challenges and shared how employing solar energy is reducing costs.
Silver was under the spotlight as Dr Jonathan Butler (Mitsubishi Corporation) moderated a diverse panel of experts – Mitchell Krebs (Coeur Mining, Inc.), Danielle Oliari (CNT Depository), Matt Watson (Precious Metals Commodity Management LLC) and Darshana Thacker (Ames Goldsmith Corporation) – who shared optimistic views on the future of the white metal given its huge range of uses and properties and its relationship to gold. Silver was coined by Matt as the “do all metal” on the periodic table, and by Mitchell as the “unsung hero” of the energy transition.
Our Asia session featured presentations from Zhang Yongtao (CGA) and Mr Zeng Hui (Shanghai Gold Exchange). John Levin (TD Securities) and Zheng Feng (China Platinum Co., Ltd.) joined Mr Zeng Hui for a panel session, moderated by Nikos Kavalis (Metals Focus Ltd) which explored green gold, central bank activity, the Chinese and the wider Asian market, areas of growth, and the longevity of the yellow metal in the region and across the world.
A session with Suki Cooper (Standard Chartered), Chris Harris (Concord Resources Limited) and Jim Steel (HSBC) discussed their most important takeaways from the Conference.
And finally, a special forum on Sustainability & Responsible Sourcing, delivered by LBMA and the World Gold Council, continued the dialogue started at the Sustainability & Responsible Sourcing Summit in March 2024. The forum focused on ASM, Responsible Sourcing and the baseline standards, and recycled gold. Sakhila Mona Mirza (LBMA) and Terry Heymann (World Gold Council) moderated the discussion with Gregory Mthembu-Salter (Phuzumoya Consulting), Marika Korent (Earthworm), Jonathan J. Jodry (Metalor Technologies SA), Alice Vanni (Italpreziosi S.p.A) and Sara Yood (Jewelers Vigilance Committee).
Source: https://www.lbma.org.uk/