Biggest-ever PDAC an international hit

With 4,700 people in attendance, the 64th annual convention of the Prospectors & Developers Association of Canada turned out to be the biggest ever, shattering records set during the 1980s.

“We could see a tidal wave developing,” said Anthony Andrews, the PDAC’s executive director, adding that, initially, the feeling among members was that the success of 1995’s show would be difficult to match. However, the trade show sold out in early December, and as many as 75 would-be exhibitors had to be turned away. Accommodation at the Royal York Hotel, where the show is held every year, and in nearby hotels sold out in early February.

Final attendance figures showed a whopping 26% increase over last year’s numbers.

But it was not just the statistics that pleased Andrews. He was particularly impressed with the Yorkton Securities-hosted reception, during which government delegations from dozens of countries made themselves available to those interested in investing in the mineral wealth of their respective nations. Though it was only the second year for the event, it was clear that it is becoming an important part of the convention.

The convention attracted more international players than ever before, jumping to nearly 800 this year from 30 in 1992. The increase is largely attributable to a global marketing drive undertaken by the PDAC, as well as the fact that North American-based companies are exploring, developing and operating mines all over the world.

Investment Exchange

Andrews also praised the success of the Investment Exchange, a forum where junior and major companies meet to discuss joint-venture agreements and other deals, as well as investment opportunities.

Monday’s awards banquet was indicative of the spectacular year the mining industry enjoyed in 1995. Andrews described the event as “very special” because of the people who were acknowledged.

The prospecting duo of Albert Chislett and Chris Verbiski, who discovered the Voisey’s Bay nickel-copper-cobalt deposit in Labrador, took home the 1995 Bill Dennis Award for prospector of the year.

Chislett thanked officials from Newfoundland’s Department of Mines and Energy and mentioned that an entire room in his new house will be set aside for the award.

(Both Chislett and Verbiski were honored with The Northern Miner’s Mining Men of the Year award for 1995.)

The Viola MacMillan Developer’s Award was given to Robert Friedland, co-chairman of Diamond Fields Resources, for his role in developing and promoting the Voisey’s Bay discovery.

Friedland said that the credit for Voisey’s Bay belongs to Chislett and Verbiski, remarking that their discovery of the deposit was “utterly astonishing.” Drawing an analogy with the movie industry, he equated developers with film directors and prospectors with actors. Without the actors, he said, he would have had nothing to develop. “We can produce a lot more movies,” he said, “with the help of people like Al and Chris.” The 1995 Environment Award went to Westmin Resources for its innovative and environmentally safe Myra Falls mine, which is within Strathcona Provincial Park on Vancouver Island in British Columbia. In accepting the award, Westmin President Walter Segsworth noted that all Canadian mines, to some degree, are operating under similar parklike conditions.

Distinguished Service

The Women’s Association of the Mining Industry of Canada was honored with a Distinguished Service Award for its efforts in raising funds for student scholarships in the earth sciences.

Prospector and entrepreneur Jean Jacques Martel was presented with the Distinguished Service Award. “I’ll do my best to keep fighting for prospectors,” he said to the loudest cheers of the night.

The joint luncheon of the PDAC and the Canadian Institute of Mining, Metallurgy and Petroleum, held on the final day of the convention, also proved eventful. Pierre Lassonde, president of Franco-Nevada Mining (TSE) announced he would donate $5 million to the University of Toronto’s Engineering faculty.

The Lasonde endowment will be used to strengthen the geological and mining engineering departments at the faculty. Principally, the funds will be used to add faculty members, provide scholarships and recruit students.

In addition, a portion of the funds will be used to build and maintain a home for the Canadian Mining Hall of Fame. The Hall will be established in the Mining Building, at 170 College St., on university campus.

In all, “there was good energy at the convention,” Andrews remarked. “Everyone was upbeat.”

The PDAC intends to hold its biggest convention yet in the year 2000, when, according to current plans, both the Royal York and the nearby Metro Toronto Convention Centre will be filled.

“We’re gonna have a tremendous party,” he predicted. “We’re going to have the whole world here, and probably other planets as well.”