PDAC e-News and Activities, December 21, No. 30
Page Index
Mining Day on the Hill
Public’s
attitude to mining appears to be improving
Changes to
43-101 take effect on December 30, 2005
Amendments to Ontario Securities Act will also take effect at end of
2005
PDAC submits comments on modernizing securities legislation
International
Council on Mining and Metals
ICMM and World Bank release community development toolkit
Social and environmental issues will be the catalysts for a revolution
in mining
Peter
Dimmell speaks on global exploration trends
APGO seeks executive
director/registrar
Mining Day on
the Hill
Industry representatives were out in full force in Ottawa on November 22
for Mining Day on the Hill, the principal lobbying event of Mining Works
for Canada. Representatives of the PDAC, one of the largest contributors
to the Mining Association of Canada public relations program, included
president Peter Dimmell, first vice-president Patricia Dillon, director
Eira Thomas, and staff members Tony Andrews, Philip Bousquet, and
MaryAnne Mihychuk. During the day, teams of industry representatives
visited MPs and senior government officials to talk about the state of
the industry and suggest ways to reverse Canada’s declining base metal
reserves. A copy of the briefing notes, which contain some interesting
facts and figures about the industry, is available
here.
Public’s attitude to mining appears to be improving
Members may be surprised at some of the results coming out of a survey
conducted recently by the Mining Association of Canada on the public’s
view of the mining industry. For example, 85 percent of Canadians
believe that mining is a high tech, innovative industry, and 65 percent
of Canadians believe the mining sector is of strategic importance to the
Canadian economy. Full results of the survey and commentary are
available
here.
Changes
to 43-101 take effect on December 30, 2005
National Instrument 43-101 covers standards of disclosure for mineral
projects. At the end of this year, a new NI 43-101 takes effect. The new
rules are designed to be easier to use and more practical. They also
reflect changes in the mining industry, correct errors in the previous
rule, simplify drafting, and provide new exemptions. A good summary of
the amended rules with commentary has been provided to us by McMillan
Binch Mendelsohn.
Click here for a copy.
Amendments to Ontario Securities Act will also take effect at end of
2005
Some important amendments to Ontario’s Securities Act come into force on
December 31, 2005. The new provisions allow investors in the secondary
market to sue companies and other responsible persons for written or
oral misrepresentations or a failure to disclose material changes. The
amendments expose public companies, their directors and officers and
others to greater liability risks, but they also include defences,
limits on damages and procedural safeguards. McMillan Binch Mendelsohn
has put together a summary of the amendments in a question and answer
format and has given permission for the PDAC to provide it to our
membership.
Click here for a copy.
PDAC submits comments on modernizing securities legislation
The Securities Committee responded to the Investment Dealers Association
task force on modernizing securities legislation. In its submission, the
committee states that, “given the large number of junior resource
companies in Canada, the PDAC is supportive of any initiative that aims
to provide differentiated continuous disclosure requirements between
junior and senior issuers. While the current regime is inefficient for
all issuers, it is particularly so for junior issuers for whom the costs
of adhering to the differing securities regulatory regimes of ten
provinces is disproportionately large as compared to more senior
issuers.”
Click
here for the full submission.
International
Council on Mining and Metals
The PDAC represents the junior exploration sector on the International
Council on Mining and Metals. In late October and early November, first
vice president Patricia Dillon and executive director Tony Andrews
attended ICMM meetings in London, U.K. Tony Andrews also represented the
PDAC at a meeting on indigenous peoples and the mining industry,
organized by the ICMM and the IUCN (World Conservation Union), which
took place on November 8 and 9 in Gland, Switzerland. Members interested
in obtaining a summary report of the meetings are asked to contact
MariAnn Semkiw.
ICMM and World Bank release community development toolkit
ICMM and the World Bank have collaborated in the preparation and
publication of a community development toolkit. The toolkit is designed
to foster closer relations between mining companies, communities and
governments and to support community development activities that last
beyond the life of a mining operation.
The publication contains 17 practical tools
covering a mine’s operational stages from exploration through to
closure, including the assessment, planning, management, and evaluation
phases of community development and stakeholder relationships. A
background volume examines mineral policies and mining laws that
contribute to sustainable development. The toolkit can be downloaded
free of charge
here. If you would prefer a hard copy, please send a request by
email to
Victoria.Howse@icmm.com.
Social and environmental issues will be the catalysts for a revolution
in mining
In a lead article in the current issue of The Gangue, a publication of
the GAC Mineral Deposits Division and CIM Geological Society, Murray
Hitzman of the Colorado School of Mines predicts that, by the mid-21st
century, environmental and social considerations will require that
mining be much less intrusive than it is today. For this reason, “our
current huge open pits may become the dinosaurs of tomorrow.” The full
article is on the
GAC’s website.
Peter
Dimmell speaks on global exploration trends
President Peter Dimmell was the keynote speaker at the 5th Fennoscandian
Exploration and Mining meeting held in Rovaniemi, Finland, from November
30 to December 2. He spoke on global trends in mineral exploration.
Peter also spoke at the Ontario Exploration and Geoscience Symposium
held in Toronto on December 13 and 14 where he addressed the theme, “The
global demand for commodities: Canada’s golden opportunity.” Copies of
these presentations are posted under What’s New on the PDAC's
website.
APGO seeks
executive director/registrar
With the resignation of Oliver Bonham, the Association of Professional
Geoscientists of Ontario is looking to recruit a new executive
director/registrar.
Click
here for details of the position.
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