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   Last night I strode through the rain to the Hyatt Hotel where the BC branch of the Canadian Institute of Mining (CIM) held their annual students dinner and talk.  The foyer was crowded with students drinking and laughing with old folk in the mining industry—the sound bouncing off the plaster and paint of the walls was so terrible that I fled to a quiet bar nearby. 

   When the crowd finally filtered into the dining chamber, I snuck back in, hoping the noise would have moderated.  For my luck I found myself at a table with three third- and forth-year mining students, all women in mining.  Over a terrible dinner of untouched lettuce leaves served the same huge size they were picked with some stringent vinegar thrown over for bad measure, and a dense breast of chicken over-cooked and subsequently kept heated for crowd-control, we chatted amiably about student life, working in Fort McMurray, choosing jobs by the random pick method, and the peculiarities of some of the university professors.  As one student told me: I know about heap leaching now after two lectures–you pile the stuff up and sprinkle water and chemicals on it. 

I joke.  These three are smart and informed.  They could easily take over the mining industry now and soon in the future.  I asked them, “Why Mining?”   The answers varied, but came down to the common: good scholarships, open places in the department, the opportunity to travel, and sounds interesting.  Good enough for me.

    The after-dinner speaker was Don Lindsay, CEO  of Teck.   I have listened to him talk before.  I have seen him walk back alone from a conference presentation through the cold of a winter day in Edmonton.  Then last night.  He gave a superb speech.  As good as anything Obama seems to give off the cuff.  The humanism and intelligence coupled with humor and self deprecation shine through.  He mostly told stories; here are some that I try to tell as he told them, although I will never capture his tone and rhythms.

After first year university I went to work the holidays in a uranium mine.  They put me as a helper to the best driller.  He made sure I pulled the fan up to the face where he was drilling as I mucked out behind him.  I made money enough to return to university, but before I left is was called to the mine manager.  He carefully explained that because of the location of the fan, I hade received excessive radiation exposure—about what you would get from six X-Ray.  I suppose I survived and I have two daughters so it is OK.  But the lesson, is that on the mines and at Teck, we are all our brother keeper when it comes to health and safety.

     

 He warned about coming uniformed conclusions by telling these stories of the Olympics:

Teck produced the metals for the upcoming winter Olympics in Vancouver.  When they “unveiled” them to me, they had TV cameras on my face to record my reaction.  Now, I have seen many other Olympic medals and many are very beautiful.  They opened the box on the new ones and all I could think was “They are bent and distorted.  I could think of nothing to say, until in reply to a question I blurted out ‘I am overwhelmed.’”   Only later was I shown a film that explains that the medals depict the Orca Whale and the bend represents the waves in which the Orca lives as part of an integrated pod.  Now I see the beauty of the medals, for now I comprehend their symbolism.  Point is defer judgement until you know more.

Then there was the time I took three Teck directors to the Beijing Olympics.   They were all over seventy as were their wives.  We asked if we could see something other than the women’s volleyball–did not seem quite appropriate for old men and their wives.  Instead at the last moment I was told we were going to watch women’s weight lifting.  My hear sank at the thought of 250 pound mustaches.  I was however quite wrong, for the winner was a slim Chinese girl who was fast, precise, skilled, and professional.  Point is once again we often make incorrect first judgements. 

He proceeded to stories of flying to Toronto to persuade the heads of banks to finance Teck to the tune of $9 billion as it took over Fording Coal last year at the depth of the economic crisis.  He told of putting his daughters to bed one evening between Christmas and New Year and then sitting alone in his study, wondering. “How are we ever going to get out of this.”  The point is Teck pretty much has and its shares are pretty much back to pre-crisis levels. 

Don believes this is because of the inexorable push by the Chinese and Indians for a better life founded on more materials mined by Teck.  Maybe we should all pop down and buy a few Teck shares before they go higher.  Certainly, my opinion is that as long as Don is in charge this is possible. 

    Is the Canadian mining industry loosing the battle of public opinion, and if so, why?

This question is prompted by the news that the president of the Alberta Enterprise Group said “the Alberta government and energy industry must step up their listless defence of the oilsands and better fund their PR battle against environmental groups.”

Meanwhile two hundred delegates convene in Montreal to push for Canadian Federal legislation that would make Canadian mining companies report on their human rights activities in foreign countries.   Mineweb reports that the Prospectors and Developers Association of Canada “has urged the foreign Affairs and International Development Committee of the House of Commons to reject the bill they say would harm Canada’s mineral industry and its reputation in less developed nations.”  Continue Reading »

   Let me continue on the topic of the recent conference in Banff on Tailings and Mine Waste.  The theme of this posting (as dictated by my old teacher, every written piece must have a theme) is the infinite variety of folk who are interested in tailings and mine waste.  Continue Reading »

   Sally Petaske, David Sego, Moh’d Alostaz, and Nicholas Beier of the University of Alberta Geotechnical Center and Oil Sands Tailings Research Facility deserve accolades for an incredibly well organized and managed conference, namely the Tailings and Mine Waste ‘09 Conference recently held in Banff, Alberta.  Without hesitation I record that is it the best organized conference I have ever attended.  Period.  Continue Reading »

    President Obama lectures the Chinese on censorship and they censor him on Chinese media as hand-picked “students” ask polite questions and avoid the truth—whatever that is in a goon-dominated place.  The saddest and scariest part is that such tight control of people and the truth leads to a commercial behemoth that is seeking to take over the dollar and world mining.  The Chinese long ago blocked this blog–about two years ago if I recall, soon after it started, so there is no danger I will offend anyone with negatives comments on Chinese mind-control.  Continue Reading »

  Can the possibly be a sadder story than that of Orpeus and Euridice?  The story of one who could charm the gods with his song when he goes to Hades to seek the return of his dead wife, Euridice, only to loose her on the return journey to the earth when, in defiance of the gods’ decree, he looks back—to loose her forever.  Continue Reading »

   The past three days have been in Denver.   My travels took me into the company of consultants to the financial side of the mining industry–those folk who consult to the titans of the industry who broker the mergers and take-overs, the resource estimations and high politics in world capital cities where the deals are made.  Then I returned to my office in Vancouver where I share office space with a very small Junior mining company still seeking that elusive ore body that will make them millionaires.  Continue Reading »

    A fine paper at the Banff, Alberta conference on Tailings & Mine Waste is that by John Sobokowicz and Norbert Morgenstern.  It is called “A Geotechnical Perspective on Oil Sands Tailings.”   In fact it would be a great paper if the presentation (soon to be available on the conference web site) had not focussed on the Alberta Energy and Resource Conservation Board (ERCB).  Recall the ERCB have concocted that utterly ridiculous requirement that oil sands tailings have a strength of 5 kPa one year after placement! Continue Reading »

  Last week to Banff, Alberta and the 2009 Conference on Tailings and Mine Waste.  In time they promise to post on their site the PowerPoint presentations.  One that is worth summarizing now is by AMEC engineers, Michael Davies and Todd Martin, both well respected and knowledgable folk.  Continue Reading »

    We have David Baines of the Vancouver Sun to thank for a new story on mining investment gone bad.  We use this case history to formulate another Investment Rule:  Do not buy shares in a mining company controlled by one man. Continue Reading »

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