Abstract

An investment banker’s decision to finance a mining project has historically been based on “the numbers” and “the people.” In today’s world, however, NPVs, IRRs, AISCs, payback period and mine life are not the only numbers under consideration. Similarly, a management team with a pedigree for profitable operations and familiarity with the markets is probably not sufficient to get the funding nod. Today high scores relating to corporate performance in somewhat subjective areas of responsible and sustainable mining, now known as “ESG Performance” for activities relating to Environment, Social and Government programs, hold considerable weight in deciding which mining projects are built. The mining industry will play a key role in the transition to a “green” or de-carbonized world with the inputs it provides, but mining leadership will need to be committed to developing and adopting technologies that will lead to clean mines and an improved social perception of the industry. 

Biography of the presenter

Robert W. Schafer is a Registered Professional Geologist with+30 years international experience exploring for mineral deposits and structuring business transactions globally having worked in more than 80 countries, notably Russia, Australia, Afghanistan, China, India, and most countries in Africa and South America. As a field geologist, manager and executive, Mr. Schafer led teams to the grassroots discovery of mines in the western USA and Russia, as well as developing strategies that lead to brownfields discoveries in western Canada and southern Africa. Robert is the immediate Past-President of SME, 2020-2021. He is also Past-President of the Canadian Institute of Mining and Metallurgy and Petroleum (CIM), the Mining and Metallurgical Society of America, , the Geological Society of Nevada, and the PDAC. Bob was a member of the Board of Governors for the US National Mining Hall of Fame and the Board of Directors of the Canadian Mining Hall of Fame. He is the first person to hold such leadership roles in both the USA and Canada. Bob is the recipient of the William Lawrence Saunders Gold Medal from AIME, as well as the prestigious Daniel C. Jackling Award and Robert A. Dreyer Award from SME for technical achievements and leadership in the mining industry during his career. He is a Fellow of SME, CIM and SEG. Bob earned his BSc and MSc degrees in Geology and in Mineral Economics. In addition, he completed the Executive Management program at Stanford University. Bob is also a Certified Corporate Director (ICD.D) and a Registered Professional Geologist in the States of Wyoming and Utah. He is founder and CEO of Eagle Mines Management and is member of the Board of Directors of select mining companies.