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THINKING DIFFERENTLY: A MODERN APPROACH TO MINING
Everyone knows that mining goes through cycles – booms, super cycles, and downturns. The latter brings significant challenges, some of them we have seen before and some which we have not.
Today, when safety, corporate social responsibility, and sustainability are folded into the technical and financial complexity of the next generation of projects, our panelists will shift our attention to “above ground risks” – those external and sometimes far-reaching elements that, though difficult to quantify, cannot be ignored.
Priorities shift as the cycles turn and the health of the sector changes, and project proponents must be agile to strike a balance between these varying and sometimes competing concerns. Panelists will consider and debate the following six areas of planning and management.
Senior Vice President, Finance & Chief Financial Officer, B2Gold
Mike Cinnamond has served as Senior Vice President of Finance and Chief Financial Officer at B2Gold since April 1, 2014. Mr. Cinnamond oversees the financial reporting, cash management and tax planning of B2Gold as well as financial compliance and reporting to the regulatory authorities. Prior to joining B2Gold, Mr. Cinnamond was an audit partner at PricewaterhouseCoopers LLP where he was the BC Resources Leader for the Mining, Forestry and Energy and Utilities practices. Mr. Cinnamond has 19 years of experience in the mining industry sector. Mr. Cinnamond is currently a director of the Canadian Institute of Mining, and is a member of the Institute of Chartered Accountants of BC. Mr. Cinnamond holds an LL.B designation from the University of Exeter.
President & CEO, Hecla Mining Company
Phil is President and CEO of Hecla Mining Company and has been with Hecla since 2001. During his tenure, the 126-year-old Company has been transformed into one with long-lived, low-cost mines, large land positions and a North American focus. Today Hecla is the largest primary silver producer and the third largest producer of lead and zinc in the US. In the past decade Hecla has developed the largest reserves, most production and lowest costs in its history from four mines that are located in strong mining jurisdictions. The focus on long-term operating, exploration, and financial performance has caused Hecla’s stock performance over the last 16 years to be among the best in the precious metals mining industry. Looking at the future, consistent with Hecla’s strategy of improving its long-lived mines, Phil is leading the effort to usher in a new era of innovations in mining, adopting digital age technologies to improve safety and productivity while reducing environmental impacts. With 30 years in the industry he has experienced the booms and busts of the commodity cycles; and knows what creates long-term value for shareholders, opportunities for employees and being a community-minded company.
Director, Cupel Advisory Corp.
Dr. Nicole Adshead-Bell is a geologist with more than two decades of capital markets and natural resource sector experience. Nicole is currently a Director of Cupel Advisory, a natural resources investment and advisory firm. She is also an independent director of TSX listed Pretium Resources, Dalradian Resources and ASX listed Beadell Resources. From 2012 to 2015 she was Director of Mining Research at Sun Valley Gold LLC (‘SVG’). Prior roles include Managing Director - Investment Banking, at Haywood Securities, sell-side analyst at Dundee Securities, and buy-side analyst at SVG. Post-graduation Nicole worked as a geologist for exploration, development and mining companies in Australia, Papua New Guinea and Canada.
Clive Johnson has served as a Director and the President of B2Gold since December 2006 and Chief Executive Officer since March 2007. Mr. Johnson oversees their long-term strategy and development as well as the day-to-day activities of B2Gold. Previously, Mr. Johnson was involved with Bema Gold and its predecessor companies since 1977. Mr. Johnson was appointed the President and Chief Executive Officer of Bema after it was created by the amalgamation of three Bema group companies in 1988. He was a driving force in Bema’s transition from a junior exploration company to an international intermediate gold producer. Mr. Johnson is currently a director of Uracan Resources Ltd. In 2004 Mr. Johnson received the 2004 Viola MacMillan Developer’s Award from the Prospectors and Developers Association of Canada and in 2013 he received the Pacific Entrepreneur of the Year Award for Mining and Metals.
Board Chair & CEO, Osisko Gold Royalties & CIM 2018 Convention Chair
Mr. Sean Roosen is the Chair of the Board of Directors and Chief Executive Officer of the Corporation. Mr. Roosen was a founding member of Osisko Mining Corporation (2003) and of EurAsia Holding AG, a European venture capital fund. Mr. Roosen has over 30 years of progressive experience in the mining industry. As founder, President, Chief Executive Officer and Director of Osisko Mining Corporation, he was responsible for developing the strategic plan for the discovery, financing and development of the Canadian Malartic Mine. He also led the efforts for the maximization of shareholders’ value in the sale of Osisko Mining Corporation, which resulted in the creation of Osisko. Mr. Roosen is an active participant in the resource sector and in the formation of new companies to explore for mineral deposits both in Canada and internationally. He serves on the board of directors of Barkerville Gold Mines Ltd., Falco Resources Ltd. (“Falco Resources”) and Osisko Mining, as a representative of Osisko in investee companies.
Mr. Roosen has been recognized by several organizations for his entrepreneurial successes and his leadership in innovative sustainability practices.
Mr. Roosen is a graduate of the Haileybury School of Mines.
CEO & President, Hatch
John Bianchini began his career at Hatch in 1985 and was appointed Director of their Non-Ferrous group—which provides services to clients in base metals such as copper, nickel, cobalt, lead, zinc, uranium, and ferroalloys—in 1999. He was elected to the Hatch Board of Directors in 2003, in 2004 became Global Managing Director, Metals, and on January 2, 2012 was elected Chief Executive Officer of Hatch.
John has worked extensively in process development and the evaluation of hydrometallurgical and chemical processes in the base metal industries and has implemented major metallurgical facilities for clients around the world—including North America, Australia, Asia and Africa. He has particular expertise in delivering new technology projects and the design, supervision and operations of pilot plant facilities.
He graduated from the University of Toronto with a Bachelor of Applied Science. John is a member of the Canadian Academy of Engineers, the Canadian Institute of Mining, Metallurgy and Petroleum, the Canadian Society of Chemical Engineers, and the Professional Engineers of Ontario.
Vice-President - Operations, RNC Minerals
Johnna Muinonen – (P.Eng, B.Sc.E) is currently the Vice-President - Operations with RNC Minerals. She joined RNC in August 2010. Since joining RNC, she has led the Dumont Project through pre-feasibility, feasibility and post-feasibility studies including the development of nickel concentrate roasting market development. Prior to joining RNC, Ms. Muinonen was employed by Vale (formerly Inco) for 9 years. While with Vale, she spent 5 years in Thompson, Manitoba working in the concentrator in various positions of increasing responsibility which culminated in an appointment to Mill Manager from 2005-2007. In the three years prior to joining RNC she was a Project Manager in Vale’s corporate Business Development Group leading studies at both the scoping and pre-feasibility level for Vale’s ultramafic nickel deposits in Canada. Ms. Muinonen is a Professional Engineer registered with the Professional Engineers of Ontario. She holds a Bachelor of Science in Mining Engineering from Queen’s University. She was the 2017-2018 Chair for the Canadian Mineral Processors, a CIM society.
Chairman of the Board, Continental Gold
Leon Teicher was until December 2011, for six years, President and CEO of Cerrejón, one of the largest open pit coal mining operations in the world, located in Colombia. During his time as Cerrejón´s CEO, the company grew from production and exports of approx. 26 million tons in 2006 to 32+ million tons in 2011, and to sales of US$3.2 billion.
Leon was the founder and first Chairman of the Cerrejón Foundations, a system dedicated to the promotion and development of long term social, economic, environmental and institutional sustainability of the region and of the business.
Leon´s professional career includes 20 years in the high tech sector and 19 years in mining and energy. Starting out in Silicon Valley, California, he has held positions such as Commercial Vice-president of Carbocol (Colombia), General Manager of Distributors for Latin America (seven countries) with Unisys Corporation, President of Unisys Argentina/Uruguay and President of Unisys Colombia. Leon was for eight years an entrepreneur, as the founder and CEO of his own technology business development company, Xeon Technology Corp., based in Vancouver, Canada
Currently Leon dedicates his time and energy to various business and pro-bono boards and he regularly writes opinion columns for Colombian media, especially for Portafolio, the leading Colombian business newspaper. Leon holds an MBA from Stanford University and a bachelor’s degree in Industrial Economics (having done two years of Mechanical Engineering) from Universidad de los Andes in Bogotá, Colombia. He is a dual citizen of Canada and Colombia and lives with his wife Ximena, a lawyer, between Vancouver and Bogotá.
Discussion on these 6 topics will address questions such as but not limited to:
POLITICAL RISKS – Governments are seeking higher rents and bigger ownership stakes from foreign miners. How do companies assess political risk? How do you manage the current tide of resource nationalism, new legislation and political risk associated with owning and operating mining projects, as well as managing related stakeholder and investor expectations? What should the corporate structure of a modern mining company look like? How can geographical risk be managed and mitigated, and how much ownership should the government have in our projects?
MANAGING THE RESOURCE CYCLE – What obstacles remain for the top of the cycle and where in the cycle are we now When is the right time to invest and how do companies avoid the “resource cliff”? Diversifying from big projects focus, opportunistic acquisitions are among some of the strategies panelists will share. We must avoid running out of metal to mine for failing to invest in exploration.
THE NEW EXPLORATION MODEL – Weak capital markets are starving a lot of companies of cash. Many junior companies are short of capital and count on strategic investments by major corporations. Are majors prepared to invest in exploration? Strategic investments, understanding of the smaller company model, tolerance to risk and a little Rob McEwen-style competition can mean a win-win success story.
FINANCING –Commodity prices are rebounding from their lowest point in at least 25 years, however, a reduction in bought deals, de-leveraging by companies, prepaid sales, use of stream and equity and royalty buy-backs have contributed to a new financing landscape where investors have little appetite for risk.
GOVERNMENT RELATIONS AND SOCIAL RESPONSIBILITY –Economic empowerment issues in Africa and around the world involves governments supporting the mining companies operating in their countries, with a vision for what follows after the production life of the mine. Here, we will discuss investment jurisdiction attractiveness, new economic models involving government participation, social funds and indigenous communities and best practices for reporting and ranking Company’s CSR practices and contributions.
DIVERSITY– Over the next decade 49,000 industry personnel we be retiring. Who will replace these people and how will they be attracted to the industry. While it seems to be agreed that cultivating a more diverse workforce will be essential to answering such questions, the path toward that change has not been set. How can companies stimulate real change? While increasing women’s participation is commonly focused on, new Canadians and Indigenous peoples also represent a wealth of human resources opportunities that require engagement and inclusion.
Date: Monday, May 7
Time: 9:00 AM - 11:30 AM
Location: Ballroom C
Are you ready for the CIM 2018 Convention?