In his unique style, Mauro Chiesa of the World Bank, EDC &NYC Banks fame relates: "It is (not that) hard!!"
The graphical representation of Discoveries vs. Exploration- Running on Empty, is fascinating intelligence.
Astounding write-offs & loss of key financial supports, he quantifies 1975 to 2018 exploration expenditures & major discoveries.
In my 24 stimulating years in this industry, Chiesa is the first person I have heard to say, "For the Future, Forget the Past" & he prophetically tells us why.
My direct discussion with him wholly redefined my perspective of our industry.
If you would like to comment on this or any other "Intelligence Defined", please send to myself: lbonder@miningpublications.com
We are pleased to present a British Columbia discussion group meeting of the CIM Management & Economics Society entitled:
BEYOND BOOM AND BUST: DECOMMODITIZATION OF MANAGING MINING PRICE CYCLES (Price Cycles, Cost Curves and the Art of Mindful Management)
The author: Bish Chanda is well known to CEO Lewis Bonder of Mining Publications International.
We met in 1997 at CIM where I represented the organization on an international scale.
Throughout my eight year tenure there, Bish was an important source of mining knowledge & a true positively spirited gentleman to all during my formative years at CIM.
The objective of this presentation was to explore ways to moderate the effects of recessions, by keeping the gains achieved during an upturn.
I especially enjoyed his "mindful management practices" where he cites the correlation of ancient Buddist practices to this concept.
He writes: "In the mining context, companies should manage their current costs, which they can control, instead of trying to predict the future direction of prices, which no one can." Lewis Bonder
