Symposium to highlight global opportunities

The investment climate and mineral projects of Latin America, China and Southeast Asia, Africa and the Commonwealth of Independent States will be featured at a symposium in Toronto on Jan. 25, 1996.

The event, entitled “Global Mining Opportunities,” is being organized by the Minerals Economics Society (MES) of the Canadian Institute of Mining, Metallurgy & Petroleum (CIM).

Every other year, MES holds a symposium that is focused on economic or financial aspects of the mining industry. While previous symposia have typically focused on domestic projects and issues, this year’s event reflects the growing interest in foreign projects.

The meeting will feature a luncheon address by Karl Elers on corporate responsibilities in developing nations. Elers is chairman of Battle Mountain Gold, which, together with its Bolivian partner, have set up a foundation that provides social and economic services to local communities near the Kori Kollo gold mine in that South American country. Numerous other mining companies have started similar initiatives, which are aimed at sharing the wealth and economic benefits generated by mining with local communities. “One of the key risks of doing business in foreign countries is political,” says symposium Chairman Keith Spence. “And one of the best ways to mitigate political risk is to be seen as a good corporate citizen, wherever you work.” He adds that the symposium’s international theme reflects the fact that Canada is a world leader in exporting mining knowledge to emerging countries. “This covers everything from how to find, finance and operate mines, to what types of equipment and technology are best suited for the projects.” At the same time, he adds, North American mining companies and their suppliers are keenly interested in the mineral opportunities being offered by foreign countries. In recent years, many of these countries have reformed their economic and political structures, and are otherwise enhancing the investment climate for mining within their jurisdiction.

Spence says many CIM members are eager to broaden their knowledge about the rewards and risks of doing business offshore. “Our goal is to address that need for information.”

The symposium will feature overviews of the mineral opportunities available in various foreign regions, each of which will be delivered by an experienced professional familiar with the political, financial and operating risks of doing business in that jurisdiction. “We will also include first-hand reports from mining company executives who have direct operating experience in these areas,” says Spence. “The goal is to provide hands-on, practical information about doing business in developing nations.”

Dr. William Graham, chairman of the federal government’s Standing Committee on Foreign Affairs and International Trade, will discuss Canada’s role as a leader in exporting mining knowledge.

For more information, contact Keith Spence by phoning (416) 868-6467.