Here is an edited e-mail I recently received:
I am young mining engineer with three years experience. I am at that point where I should really commit myself to the trade or back off and go a different direction. I am thinking about an advanced degree/further education but I am not sure on what: Mining engineering, geotechnical engineering geared towards mining, or business/entrepreneurship. Or just relax and enjoy my life and extracurricular activities like running/camping (bagdaddy.blogspot.com). I have an undergrad in mining engineering from Virginia Tech Any advice or thoughts would be really helpful. Also, I might as well ask about this while I have your attention, how would you invest your money if you were my age (25).
At the age of 25 I would not worry too much about career or investing. I recall, however, that at 25 I was indeed worried about career and investing. In retrospective it is so long ago and so much has happened that I did not foresee and could not have planned for, that now the worries of those days seems irrelevant. A number of economic crashes have affected my investments. The only constants have been what I know, what I can do, and income from the mining industry. Plus a few lucky breaks in buying houses in good locations.
At 64, looking back, things have worked out well and I would pretty much let it play out the same way if I had to do it over. That said, what I was doing and planning at 25 undoubtedly affected the way my life has turned out. To whit:
I became a civil engineer and specialized in geotechnical engineering. Most of my career has involved working as a consultant to the mining industry, although for about ten years, I focused on the landfill industry where they also work on large geotechnical structures involving waste. It gave me time to enjoy California.
As regards your thinking about what to do, I would say that you have to follow your heart, while keeping a firm eye on the fact that it helps to have a good job and a steady income as you pursue all the other things that it is fun to do in life.
As another mining engineer and blogger, I’d echo Jack’s advice.
I had similar thought to you about which way to take my career. I’ve zigged and zagged a bit but always kept working and stayed at what I was doing until an opportunity came up. Two years ago I was working at a mine as a production supervisor, long hours, lots of underground time, etc. Since then I moved to the city, did some technical consulting, and am now running risk management workshops at mines all over the country as a consultant.
I’m also a blogger on all things mining, and I think it gives me a great outlet to broaden my interest and thoughts beyond the day to day.
My best investment advice would be save and don’t take out bad debt. Also you can afford to be a little further up the risk/return scale while you’re younger I think, so don’t be afraid of “good” debt for investment.
Stick with it, keep running (I ran my first marathon last year!), keep blogging, and don’t stress too much about all of it. If you figure on working from 20-60 years, then you’ve still got 85% of your career left, so plenty of time for changes and new directions.
Jack’s right though, keeping a steady job and income coming in gives you the base to pursue options when they come up, and to stay comfortable in the mean time. There’s a huge range of different things to do in the mining industry, and it’s a fantastic industry.
All the best, get in touch if you ever want to connect – my details are on my blog.
Cheers,
Jamie
To no small degree, I agree with much, if not all, of the comments and advice posted thus far.
But may I add one caveat or modifier:
Set yourself unrealistic goals (there will be plenty of time later to achieve the realistic goals left after the wear and tear of life), and
be unreasonable in your efforts to achieve them (think of all the unreasonable demands that were necessary to achieve great, seemingly unrealistic goals: from putting people on the moon to building a production car that does more than 400km/hr (yes, I know – there are probably better examples but these are the two I could think of right now. I’ll let you think of the others and a couple of new ones for yourself.)
Best of luck, never give up and we WILL see you out there,
Martin Musgrave
Definitely definitely definitely Martin – I couldn’t agree more!
This situation rings close to home. I myself am a 24yr old graduate of mining engineering with three years of experience. I too am tackling the same questions of commitment and direction in life and the industry. Perhaps I can offer some insight with my current school of thought.
From my first step into an underground mine I knew that mining was for me. Subsequent work placements have only refined my passion for the industry that provides me with both interesting and rewarding work. I’m currently happily employed where I have both the means and time available to pursue my own extra-curricular activities. I am happy with the status quo but feel like I could be moving forward or advancing towards an ultimate goal. I won’t leave mining anytime soon but I will not become complacent.
I am considering a masters degree (certainly in the field of mining automation/robotics) or investing in my own pet projects as a potential start-up venture (at the very worst contributing to the available knowledge pool). My thinking is that I should do both. Surely the less attractive options will naturally fall to the side as I take action and the clear path emerges. I like the analogy of ‘biting off more than you can chew’; perhaps I bit too much but I’d rather be trying to chew than thinking about it.
Your question of investing is a hot topic in my social group (mostly 20 something mining engineers). Most of my friends trade junior mining/resource companies through on-line brokerages. The idea is that these low value stocks have the potential for great gains (or losses) on simply a series of drill holes or mergers and acquisitions. Being young and generally commitment free means the higher potential for loss would have little is any effect on our long-range lifestyles. It all comes down to the risk you’re comfortable with.
I would like to third the comment by Martin on unrealistic goals – as my current goal is to visit the deepest point in South Africa, a feat I’d like to complete this calendar year. Perhaps this will give me some material for my own life & mining related blog http://www.xanderbuilt.ca.
Thanks Jack for the forum and such interesting and relevant interaction!
Alex Bell
sorry ! what is the blog?I am puzzled for it from dictionary and yours! because of this ,I don’t understand “blogging keeps the world honest”
I am so happy to have come accross your blog.
I am 30 years old and 5 years of experience as an autocad and solidworks designer.But now I am interesrted into going into mining….
What do u think?
I couldn’t agree more. I like the advice you have given as anyone can benefit from them. Once I have spare money, I’d doing some investing as well. My kid will definitely be able to use it for his college fund.
I am working as a project engineer in mining consulting company. This is my first year. have so many question why why why???
also english exactly the mining engineering english for us is a big problem???
i have question, the definition of resource and reserve.
i think that, resource is a geological resource which some parts are economically mined. reserve is the minerals which can be mined. so how do you call a reserve which estimated loss and dilution????
please help to get out of this problem???
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