CIM’s lively symposium gets back to basics

The enthusiastic response to the Canadian Institute of Mining, Metallurgy and Petroleum’s sixth mineral economics symposium shows that the mining industry is anxious to get “back to basics.” About 150 people attended the symposium to learn how mineral properties and companies are evaluated by the experts. Due to a set quota, just as many had to be turned away. Registrants included exploration managers, mining analysts and government representatives.

Topics of discussion included feasibility studies, how companies value mineral properties, and how banks assess both mineral properties and companies.

Each presentation was followed by a lively question-and-answer period. Foremost in the minds of many of the registrants, including representatives of some of Canada’s largest mining companies, was how to avoid making the mistakes of the recent past.

“The number of failures in our business is atrocious and everyone claims that it’s the other guy’s fault,” proclaimed one registrant.

Speakers stressed, among other things, the importance of communication among project geologist, mining engineer and metallurgist in avoiding project shortfalls.

Binders containing papers prepared by the speakers are available from Dave Kellar at the CIM.