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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.
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.
Michael Cinnamond, CFO, B2Gold
Sean Roosen, Board Chair and CEO, Osisko & CIM 2018 Convention General Chair
John Bianchini, CEO, Hatch
Leon Teicher, Chair, Continental Gold (Formerly: President, Cerrojon Coal, Colombia)
Clive Johnson, CEO, B2Gold
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