PDAC urges federal
government to adopt measures to help exploration sector
Representatives of the PDAC met with federal Minister of Natural
Resources Lisa Raitt on December 17, presenting her with a series of
policy recommendations and proposals to reduce the impact of the current
financial crisis on the mineral industry and to help companies survive
the current economic downturn. The recommendations are
here.
The association was subsequently invited by NRCan to submit further
proposals for infrastructure projects that would improve the economics
of projects in remote areas and encourage new exploration investment.
The association recommended that the federal government invest in
transportation infrastructure such as all-weather roads, bridges, road
upgrades, and improvements to airports and sea ports. Also recommended
was a “Roads to Resources” cost-sharing program that would improve road
access to minerals. For further information, please contact
Philip
Bousquet, senior program director, regulatory affairs.
PDAC convention – the place to
be in good times and bad
If you’re hesitating about coming to this year’s PDAC convention, you
may be interested to hear Joe Hinzer’s thoughts on the matter. Joe is
the chairman of this year’s convention planning committee; his view is
that attendance at the PDAC convention is even more imperative in
difficult times. “In tough times, people have tended to come in large
numbers to the convention,” he says. “The reason is simple: they want
the exposure, they want to network and they want to be able to have an
opportunity to market themselves and their products at the best venue
possible.” President Jon Baird sees attendance at the convention as a
way to prepare for the recovery. Both men agree that this current
economic downturn has not altered the fundamentals that underpin the
global mining industry and that current market conditions do not reflect
the underlying global need and demand for metals and mineral products.
As past president Ed Thompson has said, “The world will always need
metals.” Early bird registration for the convention closes on February
6. You can register online
here.
Winners of the 2009 PDAC awards lauded
for excellence and accomplishment
The board of directors is delighted to announce this year’s winners of
the 2009 PDAC awards. Presentation of the awards will be made at an
awards banquet, sponsored by Barrick Gold Corporation, on Monday, March
2, at the Fairmont Royal York Hotel, Toronto. A summary of the awards
recipients follows. Click
here for fuller details.
- Thayer Lindsley Award
for an international mineral discovery: Richard Garnett and NovaGold
Resources Inc. for their respective roles in the discovery and further
exploration of the Donlin Creek, Alaska, gold deposit.
- Bill Dennis Award for a Canadian discovery or
prospecting success: HudBay Minerals Inc. for
its discovery of the Lalor zinc deposit near Snow Lake, Manitoba.
- Viola R. MacMillan
Award for company or mine development: Goldcorp Inc. for building one of
the world’s lowest cost and fastest growing multi-million ounce gold
producers.
- Skookum Jim Award for
Aboriginal achievement in the mineral industry: Tli Cho Logistics of
Yellowknife, NWT, for supplying a range of high quality services to
diamond mines in the Northwest Territories.
- Distinguished Service
Award for a significant contribution to the mineral industry: David A.
Barr for his commitment to improving health and safety in mineral
exploration.
- Environmental and
Social Responsibility Award for excellence in environmental protection: BioteQ Environmental Technologies Inc. for developing a technology that
removes contaminants from mine waste water.
- Special Achievement
Award for exceptional accomplishment in the mineral industry: Britannia
Beach Historical Society for its involvement in the Britannia
Remediation Project, including the refurbishment of the historic
concentrator building of the former Britannia Mine and the establishment
of the B.C. Museum of Mining.
Expert Panel on Securities
Regulation releases its final report: How will we benefit?
The need for a common securities regulator and regulation based on size
of issuer are key recommendations of the Expert Panel on Securities
Regulation which released its
final report on January 12. Greg
Ho Yuen, chair of the PDAC’s securities committee, has put together a
summary of the benefits that could come out of the panel’s
recommendations if they are implemented. His summary is
here.
Course on financial
reporting for mineral companies ● Vancouver ● January 29
Rick Whiler, senior accountant with the Corporate Finance Branch of the
Ontario Securities Commission, will be presenting an overview of
financial reporting at a PDAC session to be held at the Bentall 5
Conference Centre, 550 Burrard Street, Vancouver, 2-4 p.m., on Thursday,
January 29. The session will focus on issues of relevance to mining
companies and will examine the impact of the current economic crisis on
MD&A and financial reporting. The session is offered free of charge, but
pre-registration is required. More details including registration
information are
here.
Indigenous economic
development summit ● Toronto ● March 9-11
The Assembly of First Nations will be hosting an indigenous
economic development conference in Toronto March 9-11. The Inter-Nation
Trade and Economic Summit (INTES), to be held at the Metro Toronto
Convention Centre, will bring together First Nations, indigenous
leaders, members of the business community; international stakeholders;
federal and provincial ministers; and economic development expert to
examine and promote economic growth and wellbeing in key economic
regions. Guest speakers will include former UN ambassador Stephen Lewis
who will present his views on “igniting change;” economist Thomas
Homer-Dixon; CBC Dragon's Den advisor Sean Wise; Eric Sprott; and
CAW economist Jim Stanford. Full details are
here.
WHERE Challenge offers over
$17,000 in cash prizes for students and schools
The WHERE Challenge is a national contest that asks Canadian children
aged 10-14 years to answer these questions: What on Earth is in your
stuff and WHERE on Earth does it come from? The contest is sponsored by
EnCana Corporation and Teck and has been organized to celebrate the
International Year of Planet Earth. The contest is designed to foster
curiosity and ingenuity through innovative story-telling. Students are
asked to create a story around the composition of a favourite object in
their home, school or playground. They must identify one or more
non-renewable resources used to make that object and where those
resources come from. The story can be told through an essay, a poem, a
song or a play, a painting or a poster, an audio, video or multimedia
presentation or anything else kids can dream up! The contest
closes on February 28. More than $17,000 in cash prizes will be awarded
to regional and national winners and to schools. Full contest details
are here.
The top ten global mining issues
Members may be interested to read a publication put out recently by
Deloitte that examines the top ten issues facing industry executives
during the coming year. Included in the list are: commodity prices;
higher costs vs. lower prices; tight credit markets; shortages of talent
and equipment; political and other risks; difficulty in finding quality
assets; consolidation; environmental concerns; compliance costs and
complexity; and electricity shortages. The full report is
here.
