Q&A with Larry McClure, Senior Investment Officer, GCC Region Embassy of Canada, Abu Dhabi
Let’s start with some background into your role at the Embassy of Canada in Abu Dhabi.
At the Embassy of Canada in Abu Dhabi, I serve as senior investment officer focused on fostering strategic investment relationships between Canada and the Gulf Cooperation Council (GCC) region. Drawing on my doctoral research in investment strategy and an MBA in entrepreneurship and innovation, I work cross-culturally to build trust with key investors from sovereign wealth funds, financial institutions, family offices and private conglomerates. I deliver high-impact investor relations and corporate innovation strategies to support Canadian private and public sector clients primarily in the critical minerals, AI, energy, and infrastructure sectors. Ultimately, our teams’ overarching goal is to enhance bilateral economic ties and drive mutually beneficial growth between our nations.
The GCC has grown in recent years in terms of interest in the metals and mining space, and especially into critical minerals investment. Can you talk about the shifting role of investment coming out of the region?
The GCC is undergoing a significant transformation in its approach to metals, mining, and especially critical minerals investment. Historically reliant on hydrocarbons, GCC countries are now positioning mining as a strategic pillar of economic diversification. This shift is driven by global demand for minerals essential to clean energy, digital infrastructure, and advanced manufacturing. Countries like Saudi Arabia, the UAE, and Qatar are leading this charge. Saudi Arabia’s Vision 2030 places mining at the heart of its economic strategy, with an estimated US$1.3T in untapped mineral reserves. The region is not only investing in domestic exploration and production but also deploying long-term capital—via sovereign wealth funds and family offices—into global mining projects, particularly in Africa and Asia.
These investments are helping to close the funding gap in a sector that requires over US$2T in new supply by 2050 to meet net-zero goals. The GCC’s role is also evolving from that of a passive investor to an active participant in global supply chains. The region is leveraging its geographic position and diplomatic agility to become a nexus connecting resource-rich regions with global markets. Technological innovation is another key driver: AI, blockchain, and digital twins are being integrated into mining operations to enhance efficiency, transparency, and sustainability. In short, the GCC is emerging as a key player in the global critical minerals ecosystem—both as a financier and as a strategic partner—helping to reshape supply chains in a more multipolar and sustainability-conscious world
What is investor sentiment at the moment? Are people actively looking to invest?
Investor sentiment in 2025 toward the metals, mining, and critical minerals sector is cautiously optimistic. Despite global volatility, investors remain confident in the sector’s long-term value, especially as demand for critical minerals grows. ESG considerations are central to investment decisions, with capital flowing toward projects that demonstrate sustainability and transparency. GCC investors are active but selective, focusing on long-term partnerships, vertical integration, and strategic assets in regions with supportive policies. Overall, the sector is viewed as a key driver of the energy transition and economic diversification.
Where are investors currently focused?
Investors are showing strong interest in critical minerals, especially lithium, copper, nickel, cobalt, and rare earth elements—driven by the global push for clean energy and electrification. Regionally, capital is flowing into Africa and Latin America with North America now being considered where resource potential aligns with geopolitical stability and ESG standards. In 2025, precious metals like gold and silver are also seeing renewed M&A activity, while base metals are more focused on project execution and ramp-ups
You’re looking to bring investment into Canada. What is the appetite from the region towards Canadian projects?
There is growing appetite from GCC investors for Canadian mining and critical minerals projects. Canada’s reputation for responsible mining, strong ESG frameworks, and Indigenous partnerships makes it an attractive destination. The Canadian government has reinforced this with over C$700M in recent investments under its Critical Minerals Strategy, including tax credits and infrastructure funding. GCC investors are particularly drawn to Canada’s end-to-end value chain potential and its role as a reliable, democratic supplier of strategic resources. As a Tier 1 jurisdiction, partnership with Canada is strategic for GCC stakeholders, however, higher costs and prolonged permitting time frames in Canada have been challenges for investors to date. Interestingly, for GCC-based investors, securing off take and observed gaps in the market for mid-stream processing have been viewed as significant opportunities making Canada very attractive.
What should investors know about investing in Canadian companies and projects?
Investors should understand that Canada offers a stable and transparent regulatory environment, strong ESG credentials—including meaningful Indigenous engagement—and a skilled workforce supported by advanced mining technologies.
The country also provides attractive incentives such as the Mineral Exploration Tax Credit (METC) and the Critical Minerals Infrastructure Fund. While permitting timelines can be a challenge, the Canadian government is actively working to streamline processes to accelerate project development.
Conversely, for junior miners looking for investment from the region, what would you say are some key considerations for discussions with investors?
To date, junior miners and greenfield projects have been viewed with less interest versus producing assets, however, as the UAE, KSA, and Qatar develop their CM investment strategies,
I anticipate earlier stage opportunities in Canada to become much more attractive. I would suggest juniors to demonstrate ESG alignment and community engagement, especially with Indigenous partners. Present a clear path to production with realistic timelines and risk mitigation. Highlight opportunities for vertical integration or offtake agreements–and wherever possible, link net benefits of the investment back to the investor’s portfolio—that beyond financial returns. And lastly, be prepared for relationship-driven engagement—GCC investors value trust, long-term vision, and strategic alignment over short-term returns. Consider co-investment models or partnerships with local stakeholders to build credibility and be prepared to participate whenever possible in person during pitch sessions or negotiations.
