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PDAC e-News and Activities, October 22, 2004, No. 20
Page Index
New securities regulations in B.C.
Poll shows that Corporate Canada supports
single, national securities regulator
Special diamond offer for PDAC members
Canada’s premiers release National
Diamond Strategy action plan
Accounting standards for resource
companies
Meeting with Canadian ambassador to
Argentina and Paraguay
Views on African development invited
Aboriginal communities and mining
Discussions with Natural Resources Canada
Understanding big Canadian investors
Take Our Kids to
Work day - ideas to stimulate and occupy students coming to your
workplace
New look for PDAC website
New securities
regulations in B.C.
British Columbia is moving to a new regulatory approach that will
have a significant impact on market and industry participants. These
changes will start to take effect late in 2004. The B.C. Securities
Commission is offering sessions on the new requirements and compliance
instructions. These sessions are tailored for specific groups, including
public companies, securities industry participants, and legal and
accounting professionals. Sessions are free of charge with meals or
refreshments provided. Seating is limited. For a full list of programs,
locations, and dates, and to register, go to
http://www.bcsc.bc.ca./news/industryed/intro.asp.
Poll shows that Corporate Canada supports
single, national securities regulator
The results of an Ipsos-Reid poll, released on October 19, show that
75% of respondents support the need for a single securities regulator in
Canada. Significantly, a majority of respondents whose head office is
located in Alberta (67%) or British Columbia (69%) agreed with this
position. Of the 688 investor relations officials and company directors
responding to the question, “Do you support the idea that Canada should
have a single, national securities regulator?” 75% said yes; 7% said no;
16% were neutral; and 2% were unsure. These data will be used to support
the PDAC’s lobbying efforts that focus on the need for a single
regulator.
Globe and Mail and
National Post stories.
Special diamond offer for PDAC members
PDAC members are invited to participate in a special sale of Canadian
diamonds. BHP Billiton is offering our members an exclusive opportunity
to buy a diamond from its Ekati Diamond Mine at wholesale price. The
sale is in effect from now until the end of the year. A large selection
of diamonds is available with no restriction on the quantity that can be
purchased during the sale. Please contact Angela Dearie,
angela.a.dearie@bhpbilliton.com to receive the order form and
further details. Be quick! Last date for ordering is December 31, 2004.
Canada’s premiers release National
Diamond Strategy action plan
An Action Plan for the National Diamond Strategy has been
released by Canada’s premiers. The origins of this document go back to
July 2003 when provincial and territorial premiers directed their mines
ministers “to develop an action plan for a national diamond strategy
that maximizes the benefits to Canadians from all stages of the emerging
diamond industry and to report back…” Since that time, the exploration
industry has done its utmost to be included in discussions leading up to
the document’s release. Kudos to PDAC directors Robert Boyd and Eira
Thomas whose expertise and efforts contributed significantly to an
action plan with positive recommendations for the exploration industry,
particularly the call to make the Investment Tax Credit for Exploration
permanent, amendments to CEE, and the need to direct additional funding
towards geoscience mapping. These actions would require the
participation of the federal government which was, unfortunately, not
involved in the compiling of the action plan. The PDAC, along with other
interested organizations, has sent a
letter to the premiers
supporting the strategy but urging them to invite the federal government
to participate. The association will participate in a national diamond
strategy advisory committee and a multi-stakeholder coordinating group
that will implement the plan. Further details: David Comba,
.
Accounting standards for resource
companies
Canada’s lack of definitive accounting standards for resource
companies is the topic of a letter sent by the association to the
Canadian Accounting Standards Board on September 30. The letter calls
for an accounting standards framework that is appropriate for
exploration and mining companies and one that is principle-based rather
than rules-based.
Click here
to read the letter. Further details: David Comba,
.
Meeting with Canadian ambassador
to Argentina and Paraguay
At the request of Yves Gagnon, the new Canadian ambassador to
Argentina and Paraguay, the association organized a meeting with him and
representatives of a number of Canadian senior and junior companies
active in Central and Latin America. The meeting was held on October 1
at the PDAC office. Much of the discussion revolved around environmental
and social issues affecting exploration and mining operations in the two
countries. A presentation on E3 Environmental Excellence in Exploration
was given during the meeting.
Views on African development invited
Members with an interest in African development are invited to
submit their views on this subject to an
African development consultation website hosted by Finance
Canada. The site was launched on October 15 and is open to individuals,
businesses and NGOs. African development is a priority for the Canadian
government which is participating in a commission to help African
countries achieve their economic potential. Further details:
Hilary Myron, International Trade and Finance
Branch, fax: 613 943 0279; tel: 613 996 0634. Closing date for
submissions is November 30.
Aboriginal communities and mining
Thanks to those members who participated in a roundtable discussion on
Aboriginal communities and mining on August 11 at the PDAC offices. The
discussion was held at the request of De Beers and to enable James
Suzman, a researcher at the Centre for Africa Studies at Cambridge
University, to collect members’ views on the current state of
relationships between aboriginal communities and resource developers and
possible strategies for improving these relationships. The discussions
have contributed to the development of a short course on environmental
and social risk management which will be held in conjunction with PDAC
Convention 2005. Further details: Philip Bousquet, .
Discussions with Natural Resources Canada
The PDAC’s board of directors has been able to add the exploration
industry’s input into NRCan’s future directions. Recent presentations by
Keith Brewer and Robert Clark of the Mineral Policy Sector and Murray
Duke of the Geological Survey of Canada have provided opportunities to
do this. As well, past president Bill Mercer represents the PDAC on the
Minister’s National Advisory Board on Earth Sciences, a group
which meets twice a year and reports directly to NRCan Minister John
Efford. These opportunities enable the association to talk about its
current advocacy efforts, specifically making the ‘super’ flow-through
program permanent, re-interpreting CEE (Canadian Exploration Expense) to
include baseline environmental study, feasibility, and community
consultation costs and the importance of maintaining geological mapping
levels.
Understanding big Canadian investors
Large pension funds are key investors in most Canadian companies and
are well known for the depth of their research. Robert Bertram, Ontario
Teachers’ Pension Plan and Donald Raymond, Canadian Pension Plan
Investment Board, will be discussing what they look for in a prospective
investment, why they might buy a stock, and why they might drop it at a
luncheon organized by the Canadian Investor Relations Institute, Ontario
Chapter. Date: Tuesday, February 15, 2005. Place: Ontario Club, 5th
floor, Commerce Court, 30 Wellington St. West. Time: 12 noon-2 p.m.
Cost: Ontario Chapter Members $37.38 + tax; non-members $56.08 + tax.
Register here.
Take Our Kids
to Work day - ideas to stimulate and occupy students coming to your
workplace
On November 3, 2004, thousands of grade nine students and 75,000
workplaces across Canada are expected to take part in Take Our Kids to
Work day, a national program of the Learning Partnership. Laura Clinton,
project coordinator of PDAC Mining Matters, has kindly put together some
ideas for members to use to interest and occupy students visiting mining
companies. Click here.
Further information: Laura Clinton,
.
New look for PDAC website
The Communications Committee invites you to take a look at the
association’s website which has
recently been overhauled. There are several new additions to the site,
including sections containing general information about the exploration
and development industry and an area covering the issues on which the
association is currently working. Comments? Contact Saley Lawton,
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