‘You Can Never Ever, Ever Have Enough Gold’ – EMR Capital’s Owen Hegarty

(Kitco News) - Gold will always be in demand due to its dual nature, said Owen Hegarty, executive chairman of EMR Capital.

In early November Hegarty was interviewed by Kitco Mining at the International Mining and Resources Conference (IMARC 2023) in Sydney, Australia.

EMR is a specialist resources private equity company, which focuses on four core commodities: copper, gold, hard-coking coal, and potash. EMR has operations in Australia, Zambia, and the U.S.

"Precious metals will always be in demand," said Hegarty. "You can never ever, ever have enough gold. Gold will always be in demand because it's both a commodity and a currency.

Hegarty noted that it's both a hedge against inflation and geopolitical uncertainty. “It’s got all of those demand factors weighing on it, it will always be in strong demand. Peace, happiness, and kindness haven’t broken out completely around the world at this time. Therefore, gold will continue to be in strong demand and Michael, it is short in supply. No question about that, discoveries are fewer, and exploration dollars have been a bit tight, you might say. Permitting is getting longer and so supply is under pressure.”

Mining has had a tough 2023. Critical metals like nickel and lithium have seen double-digit declines, but Hegarty said there is a long period of steady demand going forward.

"We've got to be optimistic about that."