Engineering & Mining Journal

DEC 2018

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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80 E&MJ • DECEMBER 2018 MINING IN ONTARIO Global reach Ontario mining's international footprint Canada is home to 75% of the world's mining companies, many of which will never have an operation in the country. The TSX and TSXV, financial cornerstones of the mining industry, support a network of junior and mid-tier min- ing companies plying their trade in over 100 jurisdictions worldwide. Attracted by underex- plored regions with high-grade mineralization and lower wage costs, Toronto is home to a plethora of companies attempting to reap the benefits and navigate the challenges that min- ing in foreign jurisdictions present. Dundee Precious Metals (DPM), with cur- rent operations in Namibia and Bulgaria, and exploration in Armenia, Bulgaria and Serbia, epitomizes the global reach of mining compa- nies based in Toronto. Rick Howes, president and CEO of DPM, adheres to a philosophy that respects cultural nuances when operat- ing in foreign jurisdictions: "Whenever you operate abroad, it is important to remember you are a guest in that country. We must be respectful of culture and traditions, without imposing foreign ways of doing business." Praising the transparency of the Namib- ian government and the support it has given its mining industry by creating a regulatory framework that works for the sector, Howes suggested that modern mining practices can sometimes be applied with more ease in less developed jurisdictions: "The countries DPM operates in are sometimes more open to adopting Industry 4.0 mechanisms than some of the more established Western coun- tries. Governments are open to new technolo- gies and want to increase social responsibil- ity," he affirmed. Also headquartered in Toronto with assets in Africa is Teranga Gold, the largest commer- cial producer of gold in Senegal. Two years ago, Teranga Gold was operating in a single jurisdiction with a single asset, but through the acquisition of Gryphon Minerals it brought in three projects in Burkina Faso, and three joint ventures: one in Burkina Faso and two in Côte d'Ivoire, which enhanced Teranga Gold's West-African pipeline. Richard Young, Teranga's president and CEO, detailed how an organic growth pipeline will significantly increase its production: "Teranga Gold aims to expand its production capability from 200,000 oz of gold per year, to 350,000 oz by 2020, and to more than 500,000 oz within the next five years." The Sabodala region in Senegal where Teranga Gold operates was one of the poorest areas in the country a decade ago, but recent government surveys show that today the area is one of the healthiest. Young attributes this success to an approach that has seen Teranga invest in youth education and training, local economic development, infrastructure, food safety and nutrition issues within the com- munities since 2010: "Most CSR programs in the industry are top down, but Teranga Gold implemented a bottom up approach. The lo- cal communities establish the priorities and develop the programs," he said. The rise of mining in Mongolia Mining in Mongolia accounts for over 10% of its GDP, half of its industrial production, and 40% of export earnings. The Oyu Tolgoi Rick Howes, president and CEO, Dundee Precious Metals. Richard Young, president and CEO, Teranga Gold.

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