Dig Deep

Whats happening in the “rare earths” space? It’s a return engagement for Rocky Smith of Peak Resources, who’s here for the second time to give us a deeper insight to rare earth space. We talk about the effects of the recent trade war between USA and China on rare earth producers and consumers, and the biggest barriers to new operators for building and operating a rare earth refinery.  The magnet space is about to slowly pick up momentum with the the increase of EV activity, so it's an interesting time for anyone who is in, or thinking of getting into, the rare earths space. KEY TAKEAWAYS Some of the suppliers in the US are having trouble with tariffs going into that market. China made the threat of withholding rare earths from the US, which highlighted the fact that the US have supported the Chinese government plan to control rare earths. They currently have 80% control of the rare earth market. The challenges facing companies and indeed countries, wishing to hunt for and produce rare earths, are economical and technological. President Trump’s order to increase magnet production for the US military is good news for the rare earths industry.  By 2021, the demand will equal or exceed supply for existing manufacturing projects, and then going forward, the gap should widen. That’s why it’s important for new suppliers to be promoted and pushed to succeed. The plants for rare earth are complex and costly. If you have a process that deals with difficult minerals, then technically you have risks, so you need to be cautious when putting your finance plan together. .BEST MOMENTS ‘Most of the G7 countries were willing to take the value from the low cost Chinese rare earths, and let some manufacturing move from around the world and focus on China’ ‘It’s important to make sure we’re working on a number of things at the same time’ ‘It takes anywhere from five to ten years to get one of these things up and running’ VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Rocky Smith on LinkedIn - https://www.linkedin.com/in/rocky-smith-7a789210/?originalSubdomain=au Peak Resources - https://www.peakresources.com.au/member/rocky-smith/ ABOUT THE HOST Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3

In today’s podcast, we talk to a previous guest. He produced a report exploring the key mining trends in 2019 which is definitely worth a listen and is now back with another report Deloitte’s in partnership with NORCAT “The future of mining with wearables - exploring the health, safety, and environmental benefits of  wearables and how to leverage the technology to achieve better outcomes for mining companies around the world. The report looks at some really interesting considerations around wearables such as privacy around data collection, engagement strategies with unions and other stakeholders, along with the challenges around implementation and scaling the technology.     KEY TAKEAWAYS  The report  This is the fourth report released by Deloittes in partnership with NORCAT,  a technology and innovation centre based in the heart of the mining in Ontario, Canada.  The location serves as a positive area for collisions, bringing different technologies together to interact with each other within an operational mining environment.  This report deals with the future of wearables and is published at a time of heightened scrutiny on safety and as technology is taking over in the mining industry.  The broader wave of digital is transforming the way people actually operate, the work they are doing and the way it is executed.  Within this area, wearables have a key role in both environmental monitoring and workers health.  Developing strategies for wearables moving forward  It’s vital that mining companies first identify the problem then right wearable required in the situation.  Taking a user-centric view of the technology is key, how is the worker going to utilise the technology on a day to day basis and how will it help them?  Wearables have a crucial role to play in the health and safety of workers, they are the modern technological equivalent of the canary in a coal mine.  It allows to not just one thing but multiple environmental factors to be monitored  Increasing the adoption of wearables  User centricity is key if the wearer is expected to wear the item for a considerable amount of time it must be comfortable and easy to use. Piloting the wearable ensures the technology has user-centricity.  To increase the use of wearables it is vital that there is a clear understanding of the stakeholders involved and that concerns are addressed.   Challenges for scaling of the wearables market  You must have a view on the end-use of the technology and fully understand the user-centricity.  The collection of data and privacy controls are vital to ensure the protection of workers.  It is possible for wearables to not be associated with an individual and there are mechanisms where you can blind the data.  Using the data as part of a shared dialogue between workers and management can be vital in the successful integration of this technology into the work environment.    BEST MOMENTS  ‘It allows to not just one thing but multiple environmental factors to be monitored’  ‘If things do go wrong then wearables can aid in the location of workers for search and rescue teams’  ‘There are a myriad of technologies out there and its vital that you look beyond the technology and understand what problem you are trying to solve’        VALUABLE RESOURCES  The Dig Deep Mining Podcast  aswart@deloitte.ca   The Future of Mining with Wearables PDF Report     ABOUT THE HOST  Rob Tyson  Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community insight to people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.  Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from the first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients’ organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.     CONTACT METHOD  Email Rob at rob@mining-international.org  Rob’s LinkedIn          Mining InternationalOfficial Website          Mining International’sTwitter       Mining International’sFacebook

In today's podcast Rob interviews John Scurci, the Partner & Portfolio Manager and COO of Corona Associates Capital Management, a discretionary global macro long/short hedge fund seeking absolute returns, with a core strategy focused on precious metals and global mining equities.  John’s began his career on Wall Street working for the likes of Morgan Stanley, and with a career spanning forty years, has built a wealth of knowledge and experience of global markets especially in the commodities and resources space.  We discuss the relationship between gold and the US dollar, the presence of bitcoin in the mining industry, and the best and most effective ways of strategically investing and playing in the precious metals mining market today. KEY TAKEAWAYS 60 to 70 percent of all the new capital that has entered the US equity markets, has come from companies repurchasing their stock. This is in contract some a few decades ago when this practice was illegal. John foresees a day in the not-too-distant future, when the practice once again becomes outlawed. Corona began as an effort to capitalise on what they perceived was a misperception in the markets of where they were headed, specifically their view on valuations, value, and the role of gold and debt. John and his associates took a very different view, and believed that big returns in the markets are driven by changes in perception. In terms of general equities, John looks at balance sheets, cash flow statements, market cap and valuation when it comes to investment opportunities in gold and silver.  Our global economy does not expand without the expansion of debt. We’re at a point where the world has the greatest amount of debt in history. The world’s economies aren’t expanding at present, and are in fact on the verge of contracting. The price of gold measured in dollars has gone up, even though the value of the dollar itself has also gone up. The dollar has risen because of a constant bid for dollars themselves in order to repay debt. Gold is rising because of fear.  Gold is not a commodity. It’s money. Around 180,000 tons is known to exist and all of it is owned. It can be traded at any time. This makes it a form of currency. Although they are two precious metals, the fundamental difference between gold and silver, is that gold is the primary monetary metal, and it is what the central banks own. Therefore, it is the instrument used by the banks if they ever need instant currency. The world is starved in terms of alternative currencies and means to store wealth. John’s own view is that bitcoin is not an effective way to do this because of its volatility, and because of the simple fact that the amount of electricity used to perpetuate it is extraordinarily inefficient.  Uranium is going to be a very important source for our energy requirement in the coming years. There are environmental risks that need to be planned and managed, and also factored into the cost of uranium production. But it is clean from an emissions viewpoint and relatively plentiful. .BEST MOMENTS ‘What Wall Street really is, is a financial product factory’ ‘We were about to shift into an era of real assets’ ‘Gold is not an easy asset to value from a financial perspective’ ’The dollar is the world’s most certain funding currency’ ’The amount of money that is required in order to move the needle is absolutely breath-taking to think about’ ’The only reason to sell gold is to manage its price' VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Corona Associates Capital Management - http://www.coronacap.com John Scurci on LinkedIn - https://www.linkedin.com/in/john-scurci-ba907979/ ABOUT THE HOST Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3    

In this episode Rob interviews John Dorward, President & CEO of Roxgold, a Canadian-based gold mining company with assets located in West Africa.  We discuss the how Roxgold is developing their assets with great success, and the challenges of CSR within those countries and changes of power within Burkina Faso when John joined the company.  He gives his predictions of the gold market and what lies ahead in mining within Burkina Faso, Cote D’lvoire and other West African countries.   KEY TAKEAWAYS Projects can move forward very rapidly in West Africa, where countries are very keen to encourage foreign investment. The governments there seem to understand that investment means opportunity, and all goes towards making their countries stronger and more viable on a world platform. Roxgold is in wonderful financial shape due to wise investments and a profitable operation that has allowed the company to attract shareholders and investors, as well as make investments in subsequent operations in West Africa. The main challenges being face in West Africa are really in political stability. When the president of Burkina Faso hit his term limit, and was forced to step down, he chose not to. This caused something of an uprising, which impacted operations there immediately. One of Roxgold’s main aims is to be a good neighbour to the communities in which it establishes itself. Sharing wealth and opportunity with the areas in which it operates is key to improving its standing as a company worth working with. Keeping promises and not making excuses is key to improving the reputation of mining. Investment in education and buying from local suppliers whenever possible is important, as well as supporting local entrepreneurs. Respect is always important. John predicts that the scene is very well set up for gold. Gold tends to rally when it drops, and there is a real interest in gold around the world at the moment. Economies are in uncharted territories right now, so caution should always be applied. .BEST MOMENTS ’Some of the geologists I’ve met, there’s no way that I’d ever be able to understand where they’re coming from!’ ‘We prefer to refer to it as an “unscheduled change of government”' ‘We have a responsibility to share the wealth and share the benefits’ ‘Whatever we say, we do’ ‘You can give a number, or you can give a date. But don’t give both’ ’The future is the challenge of sensible growth’ VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes www.roxgold.com jdorward@roxgold.com ABOUT THE HOST Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3

This week, Rob is in conversation with John Mulligan, one of the directors of the World Gold Council, a market development organisation for the gold industry. John explains his role there, as well as the broader role of the Gold Council in the mining industry itself, how it was founded and with what purpose, as well as its influence on today’s industry. This is a fascinating conversation that will allow anyone interested to see a very different side of the industry, as well as the future of gold in the wider world. KEY TAKEAWAYS The World Gold Council was formed in 1987 by some of the larger gold miners at the time, who realised that they were mainly operating a very long way away from where their gold was being consumed. Even in the modern age this is true. They needed an organisation that could protect and create a healthy market for the product on their behalf. The Conflict-Free Gold Mining Standard - this was introduced at the behest of the gold miners collective and the council, which allows gold miners to potentially operate in riskier areas in a way that is transparent and responsible. The Gold Council’s expertise lie in markets, analysis, policy, marketing and communications. Their members are from a wide variety of professions, so as to be able to be better equipped to provide advice and direction for its members. Technology and innovation are driving change in the industry. Events and publications are all speaking of the many advancements that mining is currently working on. John sees this as key to the future of the industry. Environmental, Social and Governmental advancements have the potential to change the public’s perception of the gold industry, as well as improve its standing with potential investors. In the long term, the gold market is in a relatively robust state and has been for some time. Supply and demand is strong. The growth path is sound, and its production ratio is in alignment with global mega-trends. China has evolved into the world’s largest gold producer, importer and consumer. This is remarkable when you consider that in the late 90’s, there was no significant market there. Of the 3,500 tons mined each year, 1,000 is consumed exclusively by China, almost a third of the total output. The gold market was affected greatly by the fragility and eventual breakdown of financial institutions during the financial crisis. The majority of the world’s central bank reserves are held in dollar-denominated assets. The recent rise of nationalism and populism have challenged certain assumptions about globalisation, foreign investment, and the path to development and prosperity. This will make the mining landscape riskier, but can be solved through legal and regulatory stability. .BEST MOMENTS ‘Investment is where value and volume can be created’ ’Now we try and bridge the whole gap from the miners to the markets’ ‘When technology is used in an integrated fashion, then it has the potential to transform the industry’ ‘Most gold miners don’t operate where gold is bought. Well, China do!’ ’Last year was a record in the modern era for gold purchasing' VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Email John at: info@gold.org The Gold Council’s Website: https://www.gold.org John Mulligan on LinkedIn: https://www.linkedin.com/in/john-mulligan-7a5303a/?originalSubdomain=uk ABOUT THE HOST Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3    

In this podcast, we interview Tim George, the CEO Pensana Metals Ltd who are heading towards being a significant supplier of raw materials to the magnet metal market, and who are currently developing a mine in Angola.  Tim is here to discuss the opportunities of mining in Angola and the infrastructure that is currently present in the country. We also talk about Pensana Metal’s Longonjo project who will be a significant supplier of raw materials to the expanding magnet metal market - a market driven by the electrification of transport and the drive to green energy generation. KEY TAKEAWAYS Angola has always been focussed on oil in terms of major revenue streams. International concerns have been mining the area for decades. The government is doing its best to turn the economy away from oil and gas now, and is actively promoting mining, tourism and agriculture. The Chinese have put a lot of money into rebuilding the Angolan transport infrastructure, including an essential railway system which has meant a huge access vein has been opened in the country. Developing and maintaining a healthy relationship with the Angolan government has been of huge benefit. But it’s important to have this relationship right the way down through the chain, including with local governments and councils. Access has been a problem in the past, but with the investment in turning the country into an investment opportunity, including clearing land mines, Angola has become a viable target for many international companies. Tim believes that the key to an development going forward is to get out there and integrate as much as possible with the country, not only to decide if the project is right for your company, but also to see if the project is a fit for the environment and its inhabitants.  The impact of any mining operation will be significant, environmentally and economically. We must always make sure that these effects are positive. BEST MOMENTS ’For the first time in 35 years you have cheap hydro-electric power available to that region’ ’Now effectively Angola has an over-supply of power’ ‘It’s a project that’s designed to make use of the existing infrastructure’ ’These windows of opportunity don’t come along very often’ ‘You really need to get your boots on the ground'   VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes https://www.pensanametals.com Tim George - Bloomberg Profile - https://www.bloomberg.com/profile/person/21037248 tim.george@pensanametals.com ABOUT THE HOST Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3    

In this episode, Rob talks to Jeff Quartermaine, MD & CEO of Perseus Mining, a diversified and multi-jurisdiction West African-focused gold production, development and exploration company with operations in Ghana & Cote d’Iviore.  Join the conversation about how Perseus Mining has developed as a company, the challenges of mining in Ghana & Cote d’lvoire and how to develop CSR with governments and local communities in those jurisdictions. KEY TAKEAWAYS Perseus have gone from being a single-mine single-country exposure to having two operations, one in Ghana and one in Cote D’Ivoire, with a new development also beginning in the latter. To become a successful mining operation, you need five things: Good physical assets grounded in solid infrastructure A good human resource base made up of a good quality team Funding - without funding and investment you can’t go anywhere Markets for your products A social licence to operate. A core value of Perseus is to deliver on its promises. This is especially important when it comes to dealing with governments, where outcomes are promised, and Perseus prides itself on having delivered on those. Ghana has many prospects when it comes to mining, but in Jeff’s opinion, the government needs to do some work to ensure that the country is a suitable environment for potential investors to take risks in. Perseus have set themselves the goal of producing around half a million ounces of gold by 2022, and aim to generate and sustain several hundfred millions of dollars a year by then. Investing in a third country, too, will ensure that risk can be spread and managed. .BEST MOMENTS ‘I got typecast very early on as someone who could sort out very complex situations’ ‘The biggest challenge I’ve had is to build the trust of our shareholders’ Foreigners often go into countries and take a lot out, but leave very little behind’ ‘What governments seem to forget is that international investors have choices’ VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Perseus Mining - http://www.perseusmining.com Jeff Quartermaine - LinkedIn ABOUT THE HOST   Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients' organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3

In this episode, Rob Tyson talks to Marco Maestri, the Mining Group Leader at Golder, one of the main providers of independent consultancy, design and construction services to the mining industry at large, who explains the various stages of how a consultant in the mining industry develops their career into management and what key skills, attributes and best practices are needed to develop yourself within this field.  Packed with great content, this episode is aimed at anyone looking to begin their journey into the consultancy field or consultants already in the sector, with details on how and what they should develop to improve their career prospects. KEY TAKEAWAYS Joining as a consultant at the start of a business’s life gave Marco a unique perspective on what the work meant to the birth and survival of a company, instead of being a mere employee. One of the main attractions of becoming a part of the mining industry was the chance to travel and to experience different cultures.  Marco’s division focusses on study work, front end services, mine design, resource modelling, geotechnical design, water, waste and permitting, meaning his remit is extraordinarily large and all-encompassing. In Marco’s opinion, a good consultancy is built upon diversity first and foremost. An individual consultant must show a talent and understanding of engineering, project management, an eye for detail, and entrepreneurialism.  Having an open mind and a positive attitude towards working on projects, as well as surrounding yourself with successful people in your field will allow you to gain, by osmosis, the skills you need to progress further in your career. As your career progresses you can expect to do less and less practical and technical work, because that’s part of the life-cycle of being a consultant. If this doesn’t happen then maybe something is wrong. Before you can properly grow and develop your team, Marco advises a better understanding of the marketplace itself, as well as your competition. Only by doing this can we establish the kind of team needed in order to face these challenges. The outlook for Golder is bright with more innovation and investment on the horizon. Golder are also investing heavily in bolstering existing mining projects as well as searching out new opportunities. .BEST MOMENTS ‘I joined just before the crash. It wasn’t my fault, I just want to make that clear!’ ‘It was great to go out there and do these things; to immerse yourself in a different area and culture’ ‘Start to think strategically’ ‘Experience is one of the most important things, but you’ve got to be present in order to get that experience in the first place’ ‘We’re getting close to a boom time again’ VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Marco Maestri - LinkedIn - https://www.linkedin.com/in/marcomaestri1/ Golder - https://www.golder.com ABOUT THE HOST   Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.   Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3    

How many mining companies really analyse risk?  In this podcast, Rob interviews Robert Fig who specialises in commodity risk management, and who has worked in the banking and mining industry for over thirty years gaining a deep understanding of the risks involved for companies within the mining sector.  We talk about the difference between transactional and strategic hedging and what safeguards exist around it to protect companies such as those the world saw trying to chase up the prices prior to the crash of 2008. We also discuss and identify the major internal costs involved in setting up the infrastructure needed in order to be hedging in the first place. How do we identify these risks? What reporting systems are needed? What instruments are required, and where do we go for the required training? KEY TAKEAWAYS The first major risk that mining companies seem to face is that they are producers of metal, and between the time it is mined and the time it is sold, companies are at risk of the metal’s price going down. Risk management is all about “locking in” that period of risk, so that a mining company can protect itself from a falling price. The second risk is that companies are often sitting upon huge inventories of metal that again can be affected by falling prices. The tactic is to often “forward-sell” these inventories so as to lock in a price and prevent risk. The ever-emerging market for electric cars and their batteries has seen a huge effect on the mining industry. Materials used for batteries, in particular, are of particular value at the moment and look set to stay so for a long time. Transactional hedging is when a buyer agrees a forward-selling price over the term of a contract with a mining company. The buyer is then protected if the price of the material goes up, and the mining company is protected in case it falls. Strategic hedging is locking in the price of a commodity at a slightly lower price for a fixed period, so that falling values could essentially be insured against. There seems to be increasing reluctance in the industry to utilise strategic hedging as a way of managing risk, which Robert believes is a mistake as it allows companies to smooth out volatility on their balance sheets. Risk management must adhere to strict government controls, it requires the correct software, it must follow company policies, and be performed by a rigorously trained body of staff. Risk management done correctly can be extremely advantageous to a company’s bottom line, and will lead to an increase of reputation between your company and lenders. BEST MOMENTS 'Mining is a precarious business. Commodities go through fairly volatile periods' 'One really has to understand what happened in the lead-up to the crash of 2008’ ‘We’re still seeing the consequences and fallout from investors leaving the mining industry, which I think is a serious problem’ ‘Strategic hedging is not plug-and-play’ ‘It’s terribly important for any company to manage risk to a very high standard' VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunesThe Metals Risk TeamRobert Fig - Email   ABOUT THE HOST  Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.  Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3    

In this week’s show, Rob talks to Rick Howes, President & CEO of Dundee Precious Metals, a Canadian based international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals.  Dundee own and operate a gold, copper and silver mine in Bulgaria and have a processing facility in Namibia. Listen as Rob and Rick talk about how Dundee Precious Metals has developed over time, and of the challenges they had to overcome in order to establish a successful mining operation in East Europe. KEY TAKEAWAYS Dundee Precious Metals are heavily invested in gold production, and are looking to expand their gold production facilities in Bulgaria and Eastern Europe within the next five to ten years. This was born out of an investment opportunity in Bulgaria that Dundee took advantage of, and which has paid off handsome dividends. Political stability, and joining the EU in the 2000’s suddenly made Bulgaria and Romania viable sites for mining production. Rick stresses the importance of political stability in planning achievable mining goals. Bulgaria has a highly-educated populace, and presents many attractive opportunities in terms of taxation and royalty benefits due to the governments determination to attract foreign investment. Joining the EU seems to be a huge benefit to mining operations looking for viable sites in Europe. Countries have to adhere to EU standards on democracy and infrastructure, meaning that much time and money is being spent by government on making their countries attractive to foreign investors. Learning about potential cultures and areas is key to mining companies and businesses in general, in order to ingratiate themselves in foreign markets. Community, social and government relations are the key to success in this. Development of people and technology are the future of mining. Rick believes his legacy lies in exploring the benefits that exponential technological advancements can bring to the job, as well as improving the public image of mining as a whole. BEST MOMENTS ‘Once the country joined the EU, we got the benefit of some pro-democracy, and pro-business status’ ‘It took a while to build a level of trust and understanding’ ‘You have to take the time to figure out how things work around the world in order to form those relationships’ ‘Patience is one of our core strengths’ ‘I like mining because of the international nature of the business’ ‘The community of mining is quite tight. There are many adventurous people in the business who like taking risks’ ‘We need the world to stop seeing mining as a “dirty industry"’ ‘Don’t accept the status quo’ VALUABLE RESOURCES   Dig Deep – The Mining Podcast on iTunes Dundee Precious Metals Rick Howes - LinkedIn   ABOUT THE HOSTRob Tyson  Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.  Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first world to third world countries from Africa, Europe, Middle East, Asia and Australia. We source, headhunt and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients organisation in any mining discipline or level. Mining International provides a transparent, informative and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.   CONTACT METHOD rob@mining-international.org https://www.linkedin.com/in/rob-tyson-3a26a68/ www.mining-international.org https://twitter.com/MiningConsult https://www.facebook.com/MiningInternational.org https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3