Welcome to NY SME's 2nd Thought Leaders in Mining event: Sustainably Funding Global Mineral Supply Chains. NY SME hosted this event on September 29, 2021. The agenda, on-demand videos, abstracts and speakers' bios are below.
This event was attended by more than 540 industry leaders, who registered in advance, including officers of private and public mining and exploration companies, bankers, financiers, advisers and investors and government officials supporting, advising and or investing in mining, exploration and infrastructure projects world wide.
NY SME welcomes you to send us your expression of interest to speak, participate and become a sponsor of our 3rd virtual Thought Leaders in Mining event on Tuesday December 13, 2022. Join us! Contact us at firstname.lastname@example.org
We thank the sponsors for helping to make this and other NY SME activities possible.
Thank you Rio Tinto Plc for Lead Sponsorship, and the other sponsors.
On September 29, 2021 more than 540 registered attendees heard senior leading subject matter experts from: Benchmark Mineral Intelligence; Colorado School of Miners; Corem; Dassault Systems: GEOVIA; Eagle Mines Management; Euler Hermes; Export Development Canada (EDC); FLSmidth; General Motors; Geomega Resources; Government of Quebec; Great Bear Resources; HATCH; Hecla Mining Company; ING Capital; International Finance Corporation (IFC); Lithion Recycling; NexGen Energy; Optel Group; Resources Quebec; RESPEC Consulting; Rio Tinto Plc; Royal Gold, Inc.; Shearman & Sterling; Société du Plan Nord; SOQUEM Inc.; SRK Consulting; Standard & Poor's Global Ratings; University of Alberta; Wheaton Precious Metals and others. NY SME also thanks its media partners: Mining.com, Canadian Mining Journal, Miners News, The Mining Journal, The Mining Record, Global Business Reports, The Northern Miner, The Prospector News, SME's Mining Engineering Magazine
NY SME welcomes your participation and expressions of interest to join us at future events. Contact us at email@example.com NY SME will next reconvene its Current Trends in Mining Finance (CTMF) Conference in-person on May 8 - 12, 2023 in New York City. Send us your expressions of interest to speak, participate and become a sponsor! Save the dates and look for updates here.
Available on-demand here is NY SME's first Thought Leaders in Mining virtual event: Strengthening Critical Minerals Supply Chains in North America: The Key Role of Québec held on December 8, 2020. It was attended by 440, and more on-demand after.
View NY SME's 2nd Thought Leaders in Mining virtual event on-demand below.
A Guide to Sustainably Funding The Global Mineral Supply Chain
Wednesday, September 29, 2021
Welcome Letter from New York SME
NY SME: Tim Alch, Executive Director, Program ChairNY SME: Alan Oshiki, Chairman, and Abernathy MacGregor: Executive Vice President
Tim Alch is Executive Director (2016-21) and Executive Committee Member (2008-16) of NY SME, Managing Partner of TAA Advisory and Mining & Development Services. Since 2012, Tim has chaired more than 25 expert panel discussions and was co-chair of NY SME’s annual Current Trends in Mining Finance (CTMF) Conferences. His work spans equity, management and investment analysis focused on metals, mining and energy, and executive placement. He is a Senior Associate and was a Managing Director of Behre Dolbear; SVP of Anderson & Schwab; Equity Analyst at Paine Webber, Prudential Securities, and Dean Witter Reynolds and Senior Industry Analyst at CRU International (London), World Steel Dynamics (New York) and Resource Strategies (Philadelphia). He is an Honors Geology graduate, and John Mason Clarke fellow of Amherst College; studied Mineral & Energy Economics at Pennsylvania State University; and member of SME, AEMA, PDAC and NCUSCR and was a SME Finance Strategic Committee member (2017-20). In 2020 Tim was selected as the 2020 recipient of the SME President’s Citation for Local Section Service Award.
Alan Oshiki is the Executive Vice President of Abernathy MacGregor (New York), one of the world’s top corporate, strategic and financial communications consultancies. Alan advises on event-driven stakeholder engagement for initial public offerings, mergers and acquisitions, crises, activist shareholder defense, litigation, bankruptcy and financial restructuring, as well as innovative, high-impact approaches to ongoing communications with business audiences. Alan helps management teams and boards of directors engage their investors, customers, employees and other important stakeholders to attract capital and deal flow, generate revenue, and build loyalty and support. He works with some of the world’s largest corporations, as well as middle-market companies, start-ups, private equity sponsors, professional services firms and industry associations. Alan has over ten years of direct mining industry experience in engineering, management and finance with BHP/Magma Copper. His mining industry clients have included Alpha Natural Resources, Hecla Mining Company, Coeur Mining Inc., and Joy Global Inc. He holds an MBA from the University of Arizona and a BS in Mining Engineering from the University of Idaho. A published author as well as a frequent speaker and workshop leader, Alan is also Chairman and Treasurer of the New York Section of the SME.
Welcome by Society for Mining, Metallurgy & Exploration (SME)
Hear Dave Kanagy, Executive Director present an overview, including history of SME, about its focus and vision as a professional association of more than 13,000 professionals in the mining, metallurgy, exploration and underground construction sectors worldwide. SME's goal is educational, professional development and dissemination of valuable technical, operational information and application of innovations in the mining industry in a sustainable manner, including workforce skills and safety.
Society for Mining, Metallurgy and Exploration: Dave L. Kanagy, CAE, Executive Director
Since joining SME in 2004, Dave Kanagy has been largely responsible for the Society’s success. Focusing on growth, innovation and opportunity, SME has become the world’s largest mining related organization. He is the recipient of two prestigious awards including the Colorado Society of Association Executives’ Professional of the Year award and the Mining and Metallurgical Society of America’s Gold Medal award. He has a B.S. degree in industrial education from the University of Maryland, a M.S. degree in technology education from Eastern Illinois University and is a certified association executive by the American Society of Association Executives.
Opening Remarks - ESG: Mining Must Get Sustainability Right! - A discussion about the importance of quantifying, accounting and reporting of ESG and sustainability measures today for the mining industry, operators and investors
There are many angles to address sustainability not just in mining, but by society as a whole. Mining corporations and their investors seek long term sustainability not just in the performance of their mines and cash flows, but also in their relationships with the communities and stakeholders with whom they interact. Today’s mining industry is developing and implementing best practices that strive to establish and sustain positive equilibria within the ecosystem in which it operates to minimize harm, to promote sustainability of diverse species, the environment and the niches they occupy, and to return the space occupied by a mine to an ecologically productive area. Individually, each link in the mining cycle, from discovery to closure and including recycling, must define its own path to sustainability that is compatible with other components of the mineral supply chain and in a fashion that is accepted by society. Governments, manufacturers and consumers count on the sustainability of mineral supply to meet their demands and wishes for uninterrupted economic growth, sustained high-level employment and quality-of-living products. These aspirations are achievable only if there is sustainable growth in wealth at all levels of society.
Eagle Mines Management, CEO: Robert W. Schafer, Reg. P.G., and 2020 SME President
Robert W. Schafer is a Registered Professional Geologist with +30 years international experience exploring for mineral deposits and identifying, evaluating and structuring business transactions globally having worked in more than 80 countries, notably Russia, Australia, Afghanistan, China, India, and most countries in Africa and South America. As a field geologist, manager and executive, Mr. Schafer led teams to the grassroots discovery of mines in the western USA and Russia, as well as developing strategies that lead to brownfields discoveries in western Canada and southern Africa.
Bob is an active member of the Society for Mining, Metallurgy & Exploration (SME), its President 2020-2021, and served on the Board for more than a decade. He is also Past-President of the PDAC, the CIM and the Mining and Metallurgical Society of America. Bob was a member of the Board of Governors for the US National Mining Hall of Fame and the Board of Directors of the Canadian Mining Hall of Fame. He is the first person to hold such leadership roles in both the USA and Canada.
Bob is the recipient of the William Lawrence Saunders Gold Medal from AIME, as well as the prestigious Daniel C. Jackling Award and Robert A. Dreyer Award from SME for technical achievements and leadership in the mining industry during his career. He is a Fellow of SME, CIM and SEG. Bob earned his BSc and MSc degrees in Geology and in Mineral Economics. In addition, he completed the Executive Management program at Stanford University. Bob is also a Certified Corporate Director (ICD.D) and a Registered Professional Geologist in the States of Wyoming and Utah. He is founder and CEO of Eagle Mines Management and is a member of the Board of Directors of select mining companies.
The credit and capital markets today are adjusting as are participants in the metals, mining and energy sectors worldwide. What are key trends and issues - A Keynote Presentation
Standard & Poor's: Donald Marleau, CFA; Senior Director, Sector Lead, Natural Resources Corporate Ratings - Key Note Presentation
Don Marleau is Natural Resources Lead at S&P Global Ratings. Don has analytical oversight for the metals and mining, building materials, forest products and building sectors. Don also covers industry-leading credits in each industry, including Newmont, Alcoa and Lennar. As Sector Lead, Don is responsible for ratings quality, industry-level credit themes and commentary and outreach to investors. Don has covered issuers in various materials industries since 2000, serving as a global coordinator for metals and mining since 2008. Don also covered asset-backed securities in the early 2000's. Don holds the Chartered Financial Analyst designation and a Bachelor of Commerce with Honours from Laurentian University in Sudbury, Ontario, Canada.
What is sustainability finance? How are banks, investors, financiers adapting to expectations? How can miners benefit all stakeholders? - A Fireside Chat
Some of the topics and questions Mr. Smallwood in a fireside chat with HATCH's Mike Jones, C. Eng, P. Eng, will speak to include: What is precious metals streaming and why does it appeal to mine operators as a form of financing? What does “operating sustainably” mean to Wheaton? How is ESG integrated into the due diligence process? How can investors measure, evaluate and miners benefit all stakeholders? Does ESG impact the speed and manner of the evaluation process? How does a streaming company maintain a focus on sustainability post-investment? How can miners achieve Net Zero and what opportunities exist for moving forward to those and other sustainability initiatives?
In Wheaton Precious Metals' 2020 Sustainability Report titled 'Raising the Bar' the company describes itself as: Wheaton is the world’s premier precious metals streaming company with the highest quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow organically and through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton creates sustainable value through streaming. We believe that long-term value can only be achieved through sustainable business practices from an economic, social and environmental perspective.
Mr. Smallwood has been with Wheaton Precious Metals since its founding in 2004.
HATCH: Mike Jones, C. Eng, P. Eng, Regional Director, Africa, Europe and Middle East - Session Chair
Wheaton Precious Metals Corporation: Randy Smallwood, P. Eng., President and CEO
Session Chair: Mike Jones has enjoyed a successful operating career in various levels of mine management, supplemented by the experience gained as a senior executive in the corporate finance industry, and latterly in corporate executive management, and brings significant cross-functional corporate executive capability that encompasses all types of open pit and underground mines, in every major commodity, on 6 continents, from private grassroots exploration to multi-billion dollar global businesses. Mike is a Professional Mining Engineer carrying out various levels of mine management in a number of operating open pit and underground operations for 13 years (Gencor, De Beers, Debswana, Iscor), then was a top rated mining analyst and international corporate finance professional focused on the small and mid-cap resources sector for another 13 years (Canaccord Capital, now Canaccord Genuity). Mike’s experience leads him to be considered a specialist within HATCH's advisory business in the fields of Transactional support and Operational Improvement, amongst others. Mike has a B.Sc. (Eng)(Hons)(Mining) from Imperial College / Royal School of Mines, and a postgraduate business qualification from UNISA School of Business Leadership, is a member of the IMMM, and is a registered Professional Engineer (South Africa) and Chartered Engineer (UK).
Randy Smallwood, President & Chief Executive Officer of Wheaton Precious Metals holds a geological engineering degree from the University of British Columbia and is one of the founding members of Wheaton Precious Metals. In 2007, he joined Wheaton full time as EVP of Corporate Development, primarily focusing on growing the company through the evaluation and acquisition of streaming opportunities. In January 2010, he was appointed President, and in April 2011, he was appointed Wheaton's CEO. Mr. Smallwood originally started as an exploration geologist with Wheaton River Minerals Ltd., and in 2001, was promoted to Director of Project Development, a role he held through the 2005 merger with Goldcorp (which has since merged with Newmont). Mr. Smallwood was an instrumental part of the team that built Wheaton River/Goldcorp into one of the largest and, more importantly, most profitable gold companies in the world. He is now focused on continuing to add to the impressive growth profile of Wheaton and leading the World Gold Council as its current chair.
How Can Explorers, Developers and Miners position themselves for the long term? What ESG issues and metrics are considered by funders and how are industry operators adjusting to changing expectations - A Fireside Chat
Hear an engaging discussion moderated by Jeff Parshley, Chairman of SRK who has more than 40 years of environmental and mine closure experience on projects around the world, together with Phil Baker, CEO of Hecla Mining Company and Chris Taylor, CEO of Great Bear Resources. Jeff leads off the discussion by asking what do miners need to do responsibly operate, to retain social license to operate, and what does it take to be a sustainable industry into the future. From there, the conversation expands into a wide ranging and insightful conversation about best practices today.
By way of background, on May 13, 2021 Hecla Mining, a 130 year mining company, released its 2020 Sustainability Report with its theme: Small Footprint, Large Benefit. Therein, Hecla highlighted its achievements and goals related to GHG emissions; energy reduction and health and safety and injury reduction targets and more. Also participating in this fireside chat is Chris Taylor who discusses the potential long term impact its single asset, development stage Dixie Project in Red Lake, Ontario may have on local communities, Great Bear's expanding relations with its neighbors and other topics as were highlighted in a June 5, 2021 on-line interview with one of Chris' colleagues at Great Bear.
Great Bear Resources Limited: Chris Taylor, M.Sc., P. Geo.: Director; President and CEO
Hecla Mining Company: Phillips S. Baker, Jr., President & CEO
SRK Consulting: Jeff Parshley, P. Geo, Group Chairman, Corporate Consultant (Environment) - Session Chair
Chris Taylor is a structural and economic geologist and mining entrepreneur with over 20 years of experience with both producers and exploration companies. He is CEO, President and Director of Great Bear Resources Ltd since December 2010. He is currently Chairman of TSX.V listed Kodiak Copper Corp. and formerly a geologist with Imperial Metals Corp., a TSX company from 2004 to 2009. Mr. Taylor graduated with a Bachelor of Science honors degree in Earth Sciences in 2000, and a Master of Science degree in Structural Geology from Carleton University in 2003.
Phillips S. Baker, Jr., has worked for Hecla Mining Company, the largest silver miner in the US, for the past 20 years. He was appointed its CEO in 2003. With Hecla 130 year history of operating mines in communities and with changing technologies, Phil has a unique perspective on ESG, both on the ground and in their measurement. He has been a proponent of CoreSafety that has made mines safer over the last decade, increase use of solar technology and recognition of the role that mines play in improving the lives of the people in the communities in which we operate.
Session Chair: Jeff Parshley is Group Chairman of SRK Consulting Inc. Jeff has over 40 years of environmental and mine closure experience. He has helped develop regulatory guidelines for mine closure and closure cost estimating and assisted several clients in developing closure-related corporate standards and guidance documents. He has worked with the legal and policy aspects of mining projects since early in his career, regularly working on World Bank and IFC compliance projects, and is one of SRK’s most experienced mine closure strategists and regulatory specialists.
General Motors Announced Ambitious Plans to Produce Electric Vehicles (EVs), Reduce Emissions by 2035 and to be Carbon Neutral by 2040: Beyond Forecast Growth, What is needed? How can GM sustainably source battery raw materials locally? - A Fireside Chat
This discussion between Michael Maten, Lead for Electric Vehicle Policy Strategy at General Motors, and Terry Scarrott, Principal Consultant at Benchmark Minerals focuses on a wide ranging of issues facing GM's stated commitments and the auto industry developing a full and complete supply chain for lithium ion batteries and how GM is tackling and overcoming the obstacles. By way of background, General Motors on January 18, 2021 announced some of its goals in a press release titled General Motors, the Largest U.S. Automaker, Plans to be Carbon Neutral by 2040.
This discussion focuses on the full value chain from mine to cell and how the auto industry and effective public policy can assist in developing not only cell production, but cathode, anode and recycling associated raw materials. Some highlights of this engaging, insightful exchange include:
- General Motors is committed to an all electric future, with an aspirational target of 100% of its Light Duty vehicles being EVs by 2035. To support that future GM announced it is building four battery cell manufacturing plants in the U.S. by mid-decade, including one at Lordstown, Ohio.
- GM's goal now is to localize as much of the material that flows into those cell plants – sourced in a sustainable way and at a competitive cost.
- The provisions contained in both the Bipartisan Infrastructure package as well as the budget bill for battery manufacturing and battery supply chains are welcome and, if passed, will serve to jumpstart this effort, but challenges remain to realize this future of a regional, circular EV battery economy.
- As these chains develop, GM must be flexible to adapt to changing battery chemistries and battery technologies; by exploring the numerous social, economic and environmental opportunities of a growing lithium-ion battery economy while mitigating the risk associated with raw material supply shortages, access to high quality feedstocks and price volatility.
Discussed are GM’s aspirations in the EV battery space, more specifically what policies are most beneficial to support development of US supply chains for EVs and EV batteries, including: Encouraging investment (and supporting R&D) in battery mineral extraction, refining, and processing; Ensuring that the “onshoring” of these processes can be done in a sustainable way, and just as important, at a competitive cost; and Supporting the development of a positive-value EV battery recycling industry ensuring that recovered minerals stay in North America.
Benchmark Mineral Intelligence: Terry Scarrott, Principal Consultant - Session Chair
General Motors Corporation: Michael A. Maten, General Motors' Lead for Electric Vehicle Policy Strategy
Session Chair: Terry Scarrott is a Principal Consultant with Benchmark, advising clients, including OEMs, mining companies, government entities and others in the EV market and battery raw materials markets. Terry has significant experience across the energy mix including the full EV supply chain; from mining extraction to cell manufacturing, battery technologies, stationary storage, and ESG; market strategy and corporate development advisory. From 2006-2016, he worked as a geoscientist in the Upstream Oil and Gas industry, holding several operational and research roles before transitioning to Management Consulting and advisory roles with energy majors. Terry graduated with an MBA with Energy specialization from Cranfield School of Management, having previously studied MSc Earth Sciences at Royal Holloway, MSc Petroleum Geoscience and BSc Geology at Imperial College London.
A veteran of the automotive industry, Michael Maten is the Electric Vehicle Strategy expert for GM’s Public Policy Team. He has worked in the Electric Propulsion space for over 10 years as part of GM’s Product Planning and Strategy group. He led the advanced planning effort for GM’s next generation of battery electric vehicles, debuting in the next few years. Before that, he spent several years at GM’s OnStar business unit.
Michael has worked all over the globe on electrification and strategy projects, focusing primarily in China and Europe, including a 3-year assignment in Frankfurt, Germany. He is the architect of GM’s National Zero Emission Vehicle Program, which was unveiled in October 2018. He is a member of the Massachusetts Zero Emission Vehicle Commission, and also sits on the advisory panel for Drive Change, Drive Electric, a public/private partnership between automakers and Northeast states to promote electric vehicle ownership. He holds a bachelor’s degree in Chemical Engineering from the University of Michigan, and an MBA from University of Chicago Booth School of Business.
Circulatory, Life Cycle Planning and Recycling: Have these issues' time come? Where and at what points and how can investors, stakeholders, operators embrace new methods and technology transparently? - A Roundtable Discussion
While the indisputable benefits of EVs are widely recognized, new concerns have emerged in recent years about understanding the environmental impacts of the Li-ion battery supply chain. Social awareness and political issues also require that the industry better evaluate investments, optimize production and reduce losses. This panel will discuss how traceability and innovative technology can help increase the reliability in supply chains, offer better performance management and how recycling value chains can create economic value and sustainably.
Geomega Resources Inc.: Kiril Mugerman, President and CEO
Lithion Recycling Inc.: Jean-Christophe Lambert, Business Development Manager
Optel Group: Ken Fallu, Global Head of Strategy, Mining & Environment
Resources Québec: Jean-François Béland, Vice Président - Moderator
Kiril Mugerman is a well-travelled young entrepreneur that grew up in 4 countries and speaks 5 languages. In 2001 he settled in Montreal, Quebec where he received a bachelor’s degree with Honors in Earth and Planetary Sciences and Geology from McGill University. In 2008, he joined Gold Fields, the 4th largest gold producer at the time, to work on advanced stage exploration projects internationally including West Africa, central Asia and Latin America. In 2011, he returned to Montreal to join Industrial Alliance Securities as a mining analyst in the industrial minerals sector focusing on rare earth elements, graphite and potash.
In 2014, Mr. Mugerman joined Geomega and in 2015, he was nominated President and CEO to transition towards a mining & technology company. In March 2017, as part of the restructuring process, Mr. Mugerman created Kintavar Exploration to conduct exploration activities for non-rare earth assets that were previously owned by Geomega. His team is now actively developing a base metals camp in central Quebec. Currently, Mr. Mugerman leads both public companies and is advancing Geomega to build the first rare earths refining and recycling plant in Quebec.
Jean-Christophe Lambert, Business Development Manager, Lithion Recycling Inc. holds a bachelor’s degree in international business from Laval University in Quebec City, Canada. Prior to joining Lithion in December 2019, he was an advisor for International Market Development for the Chamber of Commerce of Metropolitan Montreal where he led multiple international delegations, consulting mandates and export projects. In his role at Lithion as business development manager, he oversees business partnerships and initiatives as well as communications and marketing.
After graduating from Laval University in Geological Engineering, Ken Fallu has developed expertise in several large-scale companies and has been working for OPTEL GROUP for 10 years. He is now the Head of Strategy for Mines and Natural Resources at OPTEL, working on the implementation of advanced technological solutions to achieve transparency and traceability of sustainable materials, ensuring complete supply chain visibility. Mr. Fallu is also involved in the Global Battery Alliance.
Session Chair: Jean-François Béland was named Vice-President of Ressources Québec at Investissement Québec in 2021. He was, from 2015 to 2021, Vice-President, Strategy and Corporate Affairs at General Fusion Inc., based in Vancouver, British Columbia. From 2007 to 2015, he worked at AREVA S.A. in Paris and Toronto, chiefly as Executive Vice-President of AREVA Canada Inc. Before moving to the private sector, Mr. Béland worked in the Canadian civil service and in the Office of the Prime Minister of Canada as an Advisor on governance policies and the Treasury Board of Canada.
Mr. Béland is a graduate of Université de Montréal (B.Sc.), École nationale d’administration publique (MPA and post-graduate diploma in public administration), École des hautes études commerciales (post-graduate diploma in management), Bordeaux École de Management (MBA), Université Paris IX Dauphine (M.Sc., strategic management) and University of British Columbia (project management certificate). In 2014, he completed the Senior Nuclear Plant Management course (SNPM). Mr. Béland is a Knight [Chevalier] of the National Order of the French Legion of Honour.
Mine Life Cycle Planning: Sustainable operations is no longer a matter of "if" or "when" – it’s a matter of how. How can digital technologies be leveraged to benefit all stakeholders? What Can the global mining industry Learn from the Largest Companies embracing, adopting New AI-Based Computing to achieve Long Term Strategic Objectives - A Keynote Presentation
Dassault Systems: Michelle Ash, CEO, GEOVIA
Michelle Ash, CEO of GEOVIA at Dassault Systèmes, has made significant contributions to the mining sector with a focus on Innovation Strategy, Technology, and Digital Transformation. Michelle is highly passionate about Mining and Infrastructure and remains focused on delivering sustainable solutions that help these sectors to continue to create and shape the world in which we live, through digital transformation and the 3DEXPERIENCE platform.
As Chair of the Global Mining Guidelines Group – GMG, Michelle has contributed to develop best practices and guidelines for the implementation of technology and socially enabled changes in the mining industry. She is also on the advisory board of several start-ups such as Petra Data Science, OffWorld, Behault, Descartes Labs and MineSpider.
Previously she was Chief Innovation Officer at Barrick Gold Corporation where she oversaw the company’s innovation program, looking both at how innovation can drive productivity in the existing business as well as how it can be harnessed to deliver alternative business models. She began her career as a blasting engineer with Rio Tinto and has held several operational roles in various mining companies and across commodities.
Michelle was named to the 2016 list of “100 Global Inspirational Women in Mining” by Women in Mining UK and won the Technology Innovator of the Year Award by Mines and Technology in 2019. She holds a degree in Civil Engineering and an Executive MBA from the Melbourne Business School; she also holds a degree in Psychology from Deakin University. Follow Michelle on Twitter: MichelleAsh18
Mining the Value of ESG: How Sustainable Development Practices Create Greater Wealth
Across the mining industry, companies are pivoting to focus on Environment, Social and Governance (ESG) criteria that they are now being measured against. In addition to regulators, the measuring stick is also used by all the stakeholders, from financial institutes to investment communities, and local residents whom their livelihood are being directly impacted. Sustainability and ESG practices are changing our industry and are here to stay. Mining companies and investors need to be informed to navigate this new landscape. This panel will explore how exploration companies, mining operators and boards are adopting more sustainable practices and how investors can assess their performance. - A Roundtable Discussion
FLSmidth Inc.: Ben Murphy, Global Key Account Manager, Key Industry Director – Gold
NexGen Energy: Karri Howlett, Chair of the ESG Committee
RESPEC Consulting: Tabetha Stirrett, P.Geo., CPG, Senior Geologist - Session Chair.
University of Alberta: Dr. Erin Bobicki, Associate Professor of mineral processing in the department of Chemical and Materials Engineering
Ben Murphy is a mineral processor. The first part of his career was spent working at mine sites around the world in technical and managerial roles. He then pivoted to the equipment supply side of mining and has worked for OEMs both in both his native Australia and in the Americas. During this time he started to notice how people were reluctant to move away from ingrained operating paradigms. This instilled in him a strong belief that better decision making and more pragmatic approach to risk could really make a difference in the mining industry. He is a co-creator and instructor for the Executive Micro-Certificate in Economic Leadership developed by the Bradshaw Research Initiative for Minerals and Mining (BRIMM) at the University of British Columbia. This online program focuses on students developing a framework for better decision making in the mining industry and breaking down silos that exist between disciplines. One of the cornerstones of the program is the emphasis on sustainability and how it impacts decision making throughout the mining value chain. Along with BRIMM he also works for FLSmidth looking after several large miners and shepherding FLSmidth’s efforts in the gold space.
Karri Howlett has worked with businesses providing corporate strategy, mergers and acquisitions, financial due diligence and risk analysis for over 20 years. She currently sits on the Boards of NexGen Energy (as Chair of the ESG Committee), and Saskatchewan Trade Export Partnership (as Vice Chair), and March Consulting. Karri recently served as the Chair of the Safety, Environment and Corporate Responsibility Committee for SaskPower, leading the development and implementation of net zero carbon emissions strategies for a large carbon-based power utility. Karri was previously President of RESPEC Consulting Inc. (formerly North Rim Exploration Ltd.), which is a geoscience and engineering consulting company based in Saskatoon, Saskatchewan, and led the acquisition of the company in 2009 and subsequent sale to RESPEC in 2016. She holds a bachelor of commerce (with honors) in Finance from the University of Saskatchewan and have earned the Chartered Financial Analyst (CFA) designation and the Chartered Director designation. In addition, Karri has several leadership and professional training certifications in corporate strategy and risk.
Session Chair: Tabetha Stirrett, P.Geo., CPG is a Senior Geologist at RESPEC Consulting. Tabetha is a geologist with nearly 25 years of mining industry experience and is the Co-President of the Canadian branch of RESPEC. Her focus is growing the mining and energy business for RESPEC in Canada. She has been working on oil and gas, potash and coal projects with a focus on exploration targeting, resource estimations, reporting, and due diligence reviews. Tabetha has assessed industrial mineral properties in many of the world’s evaporite basins. More recently she has been focusing on applying unique mining methods for more sustainable solution mining of potash and salt deposits.
Dr. Erin R. Bobicki is an Associate Professor of mineral processing in the department of Chemical and Materials Engineering at the University of Alberta. Professor Bobicki’s research interests include microwave applications in mineral processing, comminution, bioreagent development, the rheology of complex mineral slurries, and value recovery from waste materials. She has worked as a researcher and plant metallurgist for Vale, as a Process Technology Development Engineer for Intel Corporation, and most recently was an Assistant Professor at the University of Toronto. She is currently commercializing microwave technology for the mining industry with Sepro Mineral Systems, and is a Founding Director of Aurora Hydrogen, a startup developing technology for emission-free hydrogen production.
Governments, Policy Makers, Communities Can be core to off set, support, moderate financial, technical, commercial risks. What are some of the Best Examples, all industry participants can Emulate, Build on? - A Roundtable Discussion
Listen to this roundtable highlighting Quebec, as a case study, where coordinated, planned efforts help make Quebec a favored, high ranked attractive investment metals and mining jurisdiction.
Corem: Francis Fournier, President and CEO
Government of Quebec: Jocelyn Douhéret, Director of Business Development, Société du Plan Nord - Session Chair
Government of Quebec: Nathalie Camden, Associate Deputy Minister of Mines, Ministry of Energy and Natural Resources
SOQUEM Inc.: Tony Brisson, P. Geo., President and CEO
Francis Fournier has been working in the field of natural resources for over twenty years. In 2018, he joined COREM, the largest research and expertise center in mineral processing in Canada, as President and CEO. Forest engineer and researcher, he held management and leadership positions in innovation for more than fifteen years. Francis Fournier considers collaboration to be a centerpiece in the field of innovation. His experience as Research Director, Director of Member Relations, Head of Relations with the Government of Québec, Laboratory Director and then Associate Vice-President Strategic Partnerships, led him to the implementation of a national vision of collaboration with industry, provincial governments, the federal government, and research partners. This vision is the one implemented at Corem. It is with this same approach that he sits on the Board of Directors of Prima Quebec since 2018 and the MISA Group since 2019. He also works on strategic committees such as the Steering Committee of the Institut Nordique du Québec, the Scientific Committee of the INRS, the Mining Advisory Committee and the Canadian Network of Science and Engineering Laboratories in the mining sector, of which he is the co-chair.
Session Chair: Jocelyn Douhéret joined the Société du Plan Nord in April 2016 as Director of the Business Development Office. Previously, Mr. Douhéret had been involved in the mining industry for more than 10 years as business development director and then vice-president of a mining services company. From 1998 to 2006, he worked for Québec companies on industrial development projects in Eastern Europe, Latin America and Canada, particularly in the natural resources, energy and environment sectors. Mr. Douhéret began his career as scientific attaché at the French Embassy in Slovakia in 1996. He holds a master’s degree in science from Laval University in Quebec (Canada – 1996) and an engineering degree from the National School of Agricultural Engineers of Dijon (France – 1994).
Nathalie Camden has been Associate Deputy Minister of Mines at the Ministry of Energy and Natural Resources since June 2018. Ms. Camden began her career in the Québec public service in 1992 at the Ministry of Energy and Natural Resources, where she was promoted to Director of Aboriginal Affairs in 1998. She has held several management positions in different sectors of this ministry (Forestry and Mining) and was Associate Deputy Minister of Wildlife from 2009 to 2014. From 2015 to 2017, she served as Assistant Secretary to the Northern Development Secretariat and the Société du Plan Nord, where she actively participated in the creation of the latter as a strategic advisor to the President and Chief Executive Officer of the Société. From June 2017 to June 2018, she was Assistant Deputy Minister of Business Partnerships and Customer Services at the Ministry of Tourism. She has been a member of the board of directors of the Agency of Revenue du Québec since 2017. Ms. Camden obtained her bachelor’s degree in political science from University Laval in 1987, with a specialization in American politics and economics from Assumption College in Worcester, United States. She completed a certificate in administration in 1995 at University Laval.
Tony Brisson, P. Geo., joined SOQUEM in January 2021. With a bachelor’s degree in geology from the University of Québec atChicoutimi, Mr. Brisson has held several senior positions with exploration and mining companies in Quebec and North Africa. A member of the Order of Geologists of Quebec, Mr. Brisson has more than 25 years of experience in precious and base metal exploration, mine development and mining operations. He has worked for several public companies, notably Goldcorp, IAMgold, Breakwater Resources, Cambior, Focus Graphite and Cogitore Resources. Prior to joining SOQUEM , he was an exploration consultant for junior and major mining companies in Quebec and Ontario since 2015. Mr. Brisson has served on the boards of directors for several junior exploration companies. He has been a member of the Board of Directors of the Quebec Mineral Exploration Association since 2020, where he also served from 2008 to 2012.
Credit Committees, Financiers, Capital Markets, Commercial and Investment Banks, Strategic Investors hold the Keys to funding. What should be known? Revealed? How? - A Roundtable Discussion
This round table discussion will focus on how the trends of the greening of the mining industry, the conversion across all industry sectors to more sustainable technologies and practices designed to address climate change and the focus on the critical mineral supply chain and ethical sourcing are impacting mine finance. In part the panel will speak about: As a result of the above trends, is there a change in the types of projects / investment opportunities being presented; in terms of the commodities involved, i.e. cobalt/lithium versus gold/copper, new processes/technologies or players involved, or the types of projects being pursued i.e. modifications to existing facilities versus greenfield projects? Or are you seeking out new types of project/ investment opportunities? What new challenges do these types of projects/ opportunities present to the execution of a financing or investment? Do institutions have any specific mandates or targeted facilities to address these trends? Are you participating in any particular industry initiatives addressing these trends? What advice do you have for companies looking at executing one of these new types of projects in terms of - key features that will likely be considered in determining its financeability? Or, the benefits of using third party financing for these projects (as opposed to funding through corporate balance sheet)? Are these developments changing the approach used to the funding of traditional projects?
Euler Hermes: Ulrich Schulte-Lünzum, Head of Project Finance Department
Export Development Canada: James Babbit, Senior Project Finance Manager
ING Capital: Remko Van de Water, Managing Director, Head Metals & Mining, Americas
International Finance Corporation: A. Neil Pereira, CFA, IFC Global Infrastructure & Natural Resources, Mining Division
Royal Gold, Inc.: Randy Shefman, Vice President and General Counsel
Shearman & Sterling LLP: Cynthia Urda Kassis, Co Head Metals & Mining, Project Development & Finance Partner - Session Chair
James Babbitt is a Principal in EDC’s Structured and Project Finance Group with a focus on mining. With over 20 years’ experience, James has structured and closed mining project financings across a variety of commodities in both emerging and developed markets, and has worked extensively with ECAs, multilaterals and commercial financial institutions.
Ulrich Schulte Lünzum is an Executive with Euler Hermes acting as Export Credit Agency of the Federal Republic of Germany. Within that role he is responsible for project and structured financings supporting both exports of equipment from Germany as well as imports of raw materials on the basis of longterm offtake agreements. As such he has a focus on mining and has recently been involved in Teck’s Quebra-da Blanca 2 project in Chile, Minsur’s Mina Justa project in Peru and the Nevada Copper’s Pumpkin Hollow project in the US. Ulrich has been with the German ECA for more than 17 years, with more than 10 years focusing on Project Finance. Before taking on his current role as Head of Project Finance and Untied Loans he acted as Deputy Head of Hermes’ Berlin Liaison Office. As such he was responsible for advising the German Government in operational questions concerning the German ECA-business.
Remko Van de Water is Managing Director, Head of Metals & Mining, Americas at ING Capital and responsible for origination and execution of metals & mining structured financings in the region, including working capital, project financing, pre-export and M&A. He has experience in financing transactions in all major commodities and throughout the value chain. He has over 16 years of experience in leading and advising on financings in the resources sector globally, having closed many landmark transactions including for Guyana Goldfields’ Aurora project in Guyana, Torex Gold’s Minera Media Luna project in Mexico, Romarco Minerals’ Haile project in the U.S., Mountain Province’s Gacho Kue diamond project in Canada, Hudbay’s Constancia project in Peru and Antofagasta’s Esperanza and Antucoya projects in Chile. Remko holds a M.Sc. degree in Chemical Engineering from the Delft Technical University and an M.B.A. from NYU Stern School of Business, NY.
Mr. Neil Pereira is a Principal Investment Officer in the Mining Division at the International Finance Corporation (IFC), the private-sector arm of the World Bank Group. As project lead, Mr. Pereira is involved in identifying, structuring and executing new transactions, as well as the ongoing management of a number of portfolio projects. His experience includes working on projects in Africa, Latin American & the Caribbean and East Asia. Mr. Pereira joined IFC in Washington, DC in 2003 and prior to this, spent 4 years working with Citibank, N.A. in Nairobi, Kenya, focusing on corporate finance transactions across the Africa region. Mr. Pereira has a Bachelor of Commerce (Honors) degree from McMaster University in Hamilton, Ontario and a Master of Business Administration degree from Yale University in New Haven, Connecticut. Mr. Pereira is also a CFA® charterholder.
Randy Shefman is Vice President and General Counsel at Royal Gold. Mr. Shefman has more than 20 years of legal experience in international transactions across the mining, oil and gas, and power sectors. He joined Royal Gold in 2011 as Associate General Counsel and served in that capacity until his appointment as Vice President and General Counsel in January 2020. Prior to Royal Gold, Mr. Shefman was in private legal practice with regional and international law firms, including LeBouef Lamb Greene & MacRae, Holland & Hart and Hogan Lovells. Mr. Shefman holds a J.D. from the University of Colorado, an LL.M. in Environmental and Natural Resources Law and Policy from the University of Denver, and a Bachelor of Arts in history from the University of Michigan.
Session Chair: Cynthia Urda Kassis is a Partner in the Projects Practice of the law firm, Shearman & Sterling, and Head of their Mining & Metals Group. She represents sponsors/ borrowers/ lenders/ alternative financiers in project transactions worldwide, with extensive experience in the mining and infrastructure industries. She is consistently ranked a leading project finance lawyer by Chambers, IFLR 1000 and Legal 500. Who’s Who named her “Project Finance Lawyer of the Year” three times and also named her among the “most highly regarded individuals in the world” in project finance and mining. Her recent work includes representing Nevada Copper on its Pumpkin Hollow Copper Project (“North America Mining Deal of the Year” (2020) by IJGlobal) and Orion and Blackstone on Lundin Gold’s Fruta del Norte project in Ecuador (“Latin America Mining & Metals Deal of the Year ” (2017/18) by IJ Global).
There Are Examples; Are Larger Sector Players Adapting and How Have They Adapted? What was involved and were its goals achieved? - A Keynote Presentation
Didier Arseguel, Vice President, Technology, will elaborate on Rio Tinto’s approach on Full-value mining. Using Scandium as an example he will explore how Rio Tinto is maximizing what it takes out of the ground, addressing security of supply of critical minerals and lowering the industry’s footprint.
Rio Tinto Iron and Titanium: Didier Arseguel: Vice President, Technology
In his role as Vice President, Technology, based in Sorel-Tracy, Quebec, Canada, Didier Arseguel coordinates the overall development of technology, products, and operating procedures for the Rio Tinto Iron and Titanium (RTIT) business unit which includes the operations of Rio Tinto Iron and Titanium in Canada, Richards Bay Minerals in South Africa, QIT Madagascar Minerals in Madagascar, and the Suzhou metal powder plant in China. Moreover, Didier is responsible for the Critical Minerals and Technology Centre, which is also based in Sorel-Tracy. Under his leadership, the center has become a hub of innovation for the industry, particularly through the development of the UGS process and the discovery of a method to extract scandium from waste streams.
Didier joined Rio Tinto in 1990 as a research and development engineer for the talc market. During his 30-year tenure with the global company, Didier has held various strategic positions in research and development, notably in France, the United States, and England. He holds a PhD in organic chemistry. Didier is a member of the RTIT leadership team and sits on the Board of Directors of PRIMA Québec.
The value and importance and challenges of funding mining education
Colorado School of Mines: Dr. Corby G. Anderson, P.E., Harrison Western Professor in the Kroll Institute for Extractive Metallurgy as part of both the Mining Engineering Department and the George S. Ansell Department of Metallurgical and Materials Engineering
Dr. Anderson will discuss the importance and need for investment in human capital in mining and mineral supply chains, including the university, educational systems in the USA and elsewhere. As an expert in mineral processing and member of the academic, research and business community, Corby knows, understands and instructs many interested in the complexities and nuances of mineral extraction and is fully aware of the current dominance and importance of China's participation and role in the global critical and many other mineral supply chains. Investment in education and human capital is a crucial part of today's head lines and many issues impacting securing stable sources of supply of minerals, at a time today when all have expectations for also their being sustainable.
Dr. Corby G. Anderson is a licensed Professional Chemical Engineer with over 40 years of global experience in industrial operations, corporate level management, engineering, design, consulting, teaching, research and professional service. He is a native of Butte, America. His career includes positions with Thiokol Chemical Corporation, Key Tronic Corporation, Sunshine Mining and Refining Company, H. A. Simons Ltd. and at CAMP-Montana Tech. He holds a BSc in Chemical Engineering from Montana State University and an MSc from Montana Tech in Metallurgical Engineering and PhD from the University of Idaho in Mining Engineering - Metallurgy. He is a Fellow of both the Institution of Chemical Engineers and of the Institute of Materials, Minerals and Mining. He shares 14 international patents and 5 new patent applications covering several innovative technologies, 2 of which were successfully reduced to industrial practice.
Corby currently serves as the Harrison Western Professor in the Kroll Institute for Extractive Metallurgy as part of both the Mining Engineering Department and the George S. Ansell Department of Metallurgical and Materials Engineering at the Colorado School of Mines. In 2009 he was honored by the Society for Mining Metallurgy and Exploration with the Milton E. Wadsworth Extractive Metallurgy Award for his contributions in hydrometallurgical research. In 2015 he was awarded the International Precious Metals Institute’s Tanaka Distinguished Achievement Award. In 2016 he received the Distinguished Member Award from the Society for Mining, Metallurgy and Exploration, the Outstanding Faculty Award from the George S. Ansell Department of Metallurgical and Materials Engineering at Colorado School of Mines and also became a Distinguished Member of the U of Idaho Academy of Engineering. In 2017 he received the EPD Distinguished Lecturer Award from The Minerals, Metals and Materials Society. In 2019 he was named as a Henry Krumb Distinguished SME Lecturer. In 2019 he was also appointed as a Visiting Faculty within the Minerals Engineering Department of Central South University in China, the largest program of Mineral Processing in the world. In 2021 he received another Outstanding Faculty Award from the Colorado School of Mines.
Concluding Remarks and Announcement
NY SME thanks all participants, speakers and sponsors of the September 29, 2021 virtual event for joining us. We welcome your comments and expressions of interest to join NY SME for future events. Contact us at firstname.lastname@example.org