Janet Bewsey

The 2023 Bedford Report (link to download report in comment) highlights the need for additional efforts to achieve diversity in the mining industry: "• Board Diversity: There continues to be pressure for gender and ethnic diversity on boards. Glass Lewis, for example, will generally recommend a vote against the Nomination Committee if there is no gender diversity on a board. Despite a small drop in 2021, there has been a steady increase in female board representation over the past five years, ranging from 13% in 2018 to 21.8% in 2022. However, the increase from 2020 to 2022 has been marginal. Although Canadian companies are not currently required to report on ethnic diversity, starting in 2024, the ISS will expect all S&P/TSX Composite Index constituents to have at least one racially/ethnically diverse director. • Proportion of Female CEOs and Named Executive Officers: 4.1% of CEOs were female, compared to 3.7% in 2021. This number was 8% in Bedford’s report on 2020 compensation, however additional companies were added to the dataset in 2021. Of the remaining NEOs analyzed in this report, 14.7% were female, compared to 14% in 2021 and 18% in 2020. The observed 2021 representation of females in the workforce is pointedly less than that of 2020 and has been slow to increase." #mining #leadership #governance

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Thought-provoking perspective. Here's my penny's worth. Assuming the goal is to improve African economies, demand for critical minerals as the launch pad is fundamentally flawed. Here are a few reasons. 1. Critical minerals is a policy concept used to address security of supply of certain minerals in industrialized countries such that governments can sustain industrial growth all be it under less carbon intensive conditions. By its nature, the concept is not responsive to the peculiar economic and industrial development conditions in Africa. To do so requires tailormade policy concepts that speak to Africa's needs. 2. If African policymakers' response to increased mineral demand is deemed a suitable point of departure for addressing lagging development trajectory, I doubt their likely effectiveness. The reason is simply that critical minerals are merely feedstock. The development vehicle is a robust and all-encompassing industry base that can sustain longterm private sector growth. The EU, US, China etc. have this foundational ecosystem and as such can opportunistically plug into the growing demand thanks to transition to clean energy. The ecosystem includes trade competitiveness, a matured private sector, infrastructure, R&D capability, human capital, internal/external markets. The factors and wealthy governments able to subsidize strategic industries while raising entry barriers for competitors including African businesses the industrial bedrock. 3. A mineral dependent economy is unsustainable and wherein demand for critical minerals might generate huge sources of public revenue, without a groundswell of other industries, the risk is the 'Dutch Disease' at best and a repeat of the C19th "Scramble for Africa" at worst. 4. It seems to me therefore that African policymakers should leave the industrialized world to worry about its need for mineral security of supply for their industries. Investing time on the questions of what factors are critical to the region/countries' own industrialization is a better option. 5. Even if the matter was confined to decarbonization and not industrialization en masse, priorities differ. Rather than transition, energy generation, transmission, affordability and access are Africa's challenge. 6. There is also the notion of Africa. The fact is, the idea is both real and unreal. Real because the region's trade partners/competitors design policies based on perception of some singularity. Unreal because there does not exist a single legally empowered African body with the authority to design and enforce policy region wide. So, though we all speak of 'Africa' it is worth remembering that unlike the EU with a parliament constituent by members and authorized to design and enforce laws across jurisdictions, Africa has no equivalent. @AUC has no such powers and countries act independently and unilaterally. This constrains continent-wide policy and responses to global issues. https://lnkd.in/dDm5dGDY

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I was thrilled being part of the Critical Minerals International Alliance webinar earlier this week. Thanks Olimpia Pilch and Jeff Townsend for organizing, and thanks David Livingstone, Terry Garde and Rosanna Tufo for being fantastic co-panelists. Can artisanal and small scale #mining be part of the #criticalminerals solution. The answer - a resounding yes. 🎉 #ASM formalization increases productivity by 2X, 3X or even 5X sometimes while also delivering significant shifts in social outcomes. #mininginvestment and #impactinvestment that supports formalization is commercially realistic given the combination of value and impact that is created 🎉 ASM is huge - the sector already plays important economic roles for many critical minerals and can grow significantly 🎉 professionalization in the sector is a geopolitical opportunity - productivity growth in a sector that has been largely invisible 🎉 misconceptions around the nature of ASM need to be eliminated - artisanal miners are inherently legal, productivity growth supports returns, risks are managed through diversified portfolios of projects across countries and minerals The Blended Capital Group and our partners are committed to reimagining outcomes in ASM. Results make commercial, social and geopolitical sense as stable predictable business relationships increase tonnage, development, value and dignity. Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian If you didn't have the chance to join us earlier in the week, you can access the recording below. I hope you find the conversation interesting and informative. Reach out if you want to learn more.

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To support the #EnergyTransition, we need to maximise our renewable energy sources. Check out this blog by Tom Pendrey to explore how we can make the most of the systems already at our disposal. #StantecEnergy #RenewableEnergy

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Obviously, I'm a little biased on Parys Mountain, but this is a project that more people should really be looking at. In my view, the resource appears to be capable of supporting a development that would be equal to, or better, than Central Asia Metal's Sasa Project. In addition, the exploration potential both along strike and at depth is vast - as evidenced by the drilling results from earlier this year. What other UK listed junior with a market cap of less than £10m can punch out drilling results like 11.0m @ 3.0% Cu, 6.3g/t Ag and 1.20g/t Au and 22.0m @ 2.3% Cu, 2.8% Zn, 1.3% Pb, 5.0g/t Ag and 0.03g/t Au ? There is plenty more of that to come from this mineralised system. One of my biggest concerns is that Anglesey Mining is an example of just how broken the London AIM market is. A once great market has been reduced to a handful of brokers scratching around doing small, heavily discounted primary placings with almost no incentive to drive secondary trading. Small placings by juniors are then typically used to pay annual fees to a nomad, a broker, a PR firm (trying to chase the illusive secondary trading that brokers used to do), auditors and lawyers. Very sad. #ANGLESEYMINING #PARYSMOUNTAIN #UKMINING #AIMISBROKEN

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Great chatting to you about CMG and how we are supporting the ever increasing energy transition with medium to long term energy storage with vanadium flow batteries. #criticalmineralsgroup# vanadiumflowbatteries# vanadium#vrfb

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We have published our Monthly Review for October as the Western economies wait expectantly for the US election outcome. Rather than wait, energy traders are pushing into the base metals space and may yet come to grief. We look at frustrating developments for China in #Argentina #lithium, at COBRE LIMITED's PEA, at Metals X Limited bid to oust its Chinese partner (maybe) and at Aura Minerals Inc's bid for a mine in #Guatemala. Finally, we pay a visit to Zombieville, the deadzone of the #TSX-v, where the undead go to wash, rinse & repeat. https://lnkd.in/ecGBqMUZ

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Rio Tinto Group is studying proposals for potential bids for companies including Teck Resources Ltd., Sky News reported, citing people it didn’t identify. The mining giant has drawn up a list of possible targets in the wake of BHP Group’s failed bid for Anglo American Plc, and has held talks with bankers, Sky said. It’s unclear whether Rio will choose to make a move on Teck, it said, also citing a person close to the company who said no offer was imminent.  Many in the industry expect a fresh wave of acquisitions following BHP’s bid, but mega deals between the biggest firms are likely to attract stiff regulatory scrutiny, particularly as Western governments sharpen their focus on supply chains for critical minerals such as copper. Last week, Canada said it would only approve foreign takeovers of its largest miners in “exceptional” circumstances. Culpeo Minerals $CPO #copper #drilling #discoveries #mining #Chile

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If you are interested in high grade gold production with massive upside watch the webinar

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Yet another article from a highly respected company outlining the highly improbable goals that governments around the world has set to reach net zero targets. There are timing and commitment issues and both of these will mean that most countries will push their net zero goals out far past current commitments. That being said, the massive demand for copper and other battery metals cannot be underestimated. Demand will far outstrip supply and despite governments making these big commitments, very few are pushing approvals for new copper mines through the system. It’s a great time to be in copper.

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Another very credible organisation Wood Mackenzie clearly stating the facts around the floundering energy transition. Short term China weakness who control the worlds markets, keeping copper prices depressed means continued lack of investment in new supply. Look at any of the expert reports and without 75% or more copper being supplied into the market by 2050 “net zero” targets will not be met. Copper needs to be >$11,000/t before investment in large mines are made with comfort that it will stay above there. Or else, Governments had better start waking up to the fact that their ambitious targets are not going to be met.

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$CEL - Challenger Gold reports ongoing metallurgical testwork investigating a potential low-grade zinc concentrate pathway. This program was undertaken to evaluate one of the several clear and material opportunities for improvement of the Hualilan Scoping Study, for inclusion in the Pre-Feasibility Study Managing Director, Kris Knauer commented on the results"We are excited to announce that our latest metallurgical testwork has significantly improved our Hualilan Project. By unlocking the potential to economically recover zinc at head grades as low as 0.4%, we are now able to access 211.5 kt of zinc within the Hualilan Mineral Resource Estimate. This is a substantial increase compared to the 62 kt of zinc initially included in the Scoping Study mine plan. The testwork also achieved a higher zinc concentrate grade of 55%, which will notably enhance zinc payability. Alongside zinc, we have also seen improvements in gold and silver recoveries, reaching 97.5% and 93.0% respectively. The simplified flowsheet reduces reagent consumption, also has the ability to potential lower our operating costs. - Ongoing metallurgical testwork has unlocked the pathway to recover the lower grade zinc at grades as low as 0.4% Zn - This will allow Challenger Gold to access an extra 150,000t of Zn contained at Hualilan - At the current Zn price of US$2900t assuming recovery of 80% Zn and payability (after all costs) of 65% on Zn this is potentially material - The testwork produced a zinc concentrate grading 55% zinc compared to 50% zinc concentrate grades in previous testwork, which will provide a 3-4% boost to Zn payability - It also produced a simplified flowsheet with lower reagent consumption, that should reducing operating costs - It also improved previous results providing:         increased gold recovery of 97.5% (94.9% in the SS)        increased silver recovery of 93% (90.8% in the SS)         increased anticipated lead recovery of 80-85% (76.8% in the SS).        superior recovery of the Au/Ag into products with the highest Au/Ag payability   - This confirms the second of the five material opportunities for improvement identified in the Scoping Study with work to bring in the other three in progress. Read more: https://lnkd.in/dCUtCBwP #hualilangoldproject #Argentina #Equador #gold #copper #mining #goldmining Kris Knauer Sergio Rotondo Sonia Delgado

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Re: BHP and Anglo news this morning. A quick look at Costmine Intelligence’s property database identifies six copper projects in Anglo’s portfolio (all at Advanced Exploration), and two nickel projects. Anglo’s equity in five South American copper mines, plus three wholly owned nickel operations make this a pretty clear Energy Transition play. The main downside? How to strategic-review the thermal coal out of the portfolio.

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Amplifying Adam Matthews’s words - ‘there does remain a wider systemic issue for investors and asset owners to address and that is the mining sector as a whole needs a completely different level of recognition for the role it plays in the global economy, the relevance to our investment portfolios and the role it has to play in enabling the global transition’ 🏹 #mining needs to grow massively, with demand driven by the #energytransition, tech/#AI and a growing 🌍 population 🏹 mining is the first step in value chains, often taking place in remote underdeveloped places - community impacts are outsized, and environmental impacts are obvious 🏹 large projects take 15+ years to go from pre-exploration to operations 🏹 smaller exploration companies are insulating majors from exploration risks to a degree, but this comes at the cost of misallocated capital given inconsistent realities in these companies 🏹 along with large scale projects, 45 million artisanal miners operate across 80+ countries; there is no structured investment marketplace that supports #asm professionalization 🏹 mining is a focus of geopolitics, given supply shortages and the need for #energysecurity and #financialsecurity The bottom line - #mininginvestment needs a very long term focus that doesn’t get distracted with the kind of short-term speculation that we are seeing in #copper markets right now. This focus needs to consider stakeholders, geopolitics, end-to-end value chains starting with exploration and both LSM and ASM subsectors given the realities of the industry. The Blended Capital Group and our partners are committed to reimagining outcomes in ASM. We are actively working with investors to define and design financial instruments needed for catalyzing capital at scale on the massive formalization opportunities in the sector. We know that opportunities are commercially realistic, long term, strategic, socially as well as economically impactful. Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian

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Herewith an update report from PWC on the mining sector https://lnkd.in/em8Dih_z

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Is cobalt still key to the energy transition? Where will prices be in the next two quarters? How diverse is the cobalt sulfate market? The Cobalt Institute Congress will help unpack all these.

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Can't wait for this milestone after the last year's tireless efforts from the entire Sympact team. If you're in or around #mining and interested in #ESG or #sustainability, please consider joining us for the next 6 weeks (all online and mostly self-paced, made to be compatible with all of our busy schedules!) - we promise it'll be fun and highly educational :) ✏Sign up today --> https://lnkd.in/ghwHdDEw 💡Why This Course? - ESG has been ranked mining’s top risk for three years in a row - Over 90% of institutional investors consider ESG & sustainability in their investment decisions. - 90% of S&P 500 and 70% of Russell 1000 companies now publish ESG Reports. - Dozens of countries are mandating sustainability-related disclosure, while many companies aren't ready. - 77% of senior executives are not fully confident in their company’s ESG ‘risk readiness’. 📩Questions? DM me or reach out to [email protected] https://lnkd.in/e-z4P9pP

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86% of mining execs say it’s harder to recruit and retain talent vs. 2 years ago, so what will it take to attract the next generation? Demonstrating ESG initiatives which often go unnoticed could be key, according to Rob Tyson, CEO of search recruitment firm Mining International Ltd, plus showing how vital mining is to society and the world’s wider decarbonisation efforts. Download our White Paper to read what he had to say about the factors shaping mining recruitment: https://lnkd.in/emJ92P53 #lubricants #mining #MiningIndustry #innovation #decarbonisation

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This is important. We need to be working on what communities and civil society need to do to respond to industrial development proposals now that it's clear that while environmental assessment may be a box full of expensive but dubious documentation, it's basically an empty box in terms of decision-making. "In studies we have conducted of every mine assessed by the B.C., Nunavut, and federal environmental assessment agencies since the mid-1990s, 71 of 73 projects with potential impacts to caribou were approved, even with overwhelming evidence of irreparable harm. For all the industry rhetoric about environmental “red tape” hindering development, in practice, environmental assessment in Canada is an approval machine, and it’s about to become even more “streamlined.”

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