Understanding the Landscape of Mining Industry
Leveraging Advanced Automa on for Transforming Mining Opera ons
Mining asteroids will ul mately benefit humanity on and off the Earth in a mul tude of ways.
-Peter Diamandis
Canada’sminingindustryhaslongbeenatthe forefrontofglobalmineralexplorationand extraction.Withabundantnaturalresourcesanda strongcommitmenttotechnologicalinnovation,the countryhascontinuouslypushedtheboundariesofmining advancements.IntheeditionofCanada’s10BestMining CompaniestoWatch,wedelveintoCanada’sbestmining advancementsandexplorethefutureprospectsofthisvital industry.
FromthevastlandscapesofnorthernCanadatothecoastal regionsoftheAtlanticandPacific,Canadianmineshave contributedsignificantlytothecountry’seconomicgrowth andresourcedevelopment.Theindustryhascontinuously evolved,embracingcutting-edgetechnologiesand sustainablepracticestomaximizeefficiencyandminimize environmentalimpact.
Canada’sminingindustryhasmadesignificantstridesin sustainableminingpractices.Withagrowingfocuson environmentalstewardship,Canadianminingcompanies haveimplementedinnovativeapproachestoreducetheir carbonfootprintandminimizeecosystemdisruption.From incorporatingrenewableenergysourcestoimplementing efficientwatermanagementsystemsandreclamation efforts,sustainabilityisattheforefrontoftheindustry’s priorities.
Theindustryisalsoembracingdigitaltransformationand data-drivendecision-making.Theintegrationofadvanced analytics,machinelearning,andartificialintelligence enablesminingcompaniestooptimizetheiroperations, streamlineprocesses,andmakeinformeddecisionsbased onreal-timedata.Thisdigitalrevolutionhasthepotentialto unlocknewefficienciesanddrivefurtheradvancementsin theindustry.
Lookingahead,thefutureofCanada’sminingindustryis promising.Withongoingtechnologicaladvancements,there areopportunitiesforimprovedexplorationtechniques, increasedmineralrecoveryrates,andenhanced environmentalsustainability.Additionally,thedemandfor criticalminerals,suchaslithium,cobalt,andrareearth elements,isexpectedtorisewiththegrowthofrenewable energy,electricvehicles,andadvancedtechnologies, positioningCanadaasakeyglobalsupplier -PrashikD.Bombarde
Visualiser Michael Warner
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Circulation Manager Finn Wilson
December, 2022
Company
Featuring
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Featuring Brief Company
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Appia Rare Earths & Uranium Corp. appiaenergy.ca
Frederick Kozak President
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors.
Foran Mining foranmining.com
Dan Myerson
Execu ve Chairman and CEO
Foran Mining
Corpora on is a diversified explora on and development company with projects in central Canada's Flin Flon mining belt.
MAS GOLD CORP
masgoldcorp.com
Jim Engdahl CEO
MAS Gold Corp. - TXSVMAS - is focused on explora on projects in Saskatchewan along the La Ronge Greenstone Belt.
Cerrado is a Toronto based gold produc on, development and explora on company focused on gold projects in the Americas.
Great Bear Resources greatbearresources.ca
Chris Taylor President & CEO
Great Bear’s focus is on projects that have unique combina ons of geological merit, infrastructure advantages, and the capability to be rapidly advanced through resource defini on and beyond.
CMX GOLD & SILVER CORP. cmxgoldandsilver.com
Glen Alston President & CEO
CMX is ramping up ac vity on its 100%-owned Clayton Silver Property in Idaho. The property is a strategic asset that provides an a rac ve risk-reward opportunity to confirm silver-lead-zinc reserves.
Maple Gold Mines maplegoldmines.com
Ma hew Hornor President & CEO
Maple Gold Mines is a Canadian advanced explora on company in a 50/50 JV with Agnico Eagle Mines to advance the district-scale Douay and Joutel gold projects located in Quebec's prolific Abi bi Greenstone Gold Belt.
Marathon Gold marathon-gold.com
Amanda Mallough Corporate Communica ons
Marathon Gold is a Torontobased gold company advancing its 100%-owned Valen ne Gold Project located in the Central Region of Newfoundland and Labrador, one of the top mining jurisdic ons in the world.
Yamana Gold yamana.com
Brad Rourke CEO
Sco e Resources Corp. sco eresources.com Sco e Resources Corp. (#TSX.V: SCOT) is an explora on stage company engaged in the acquisi on, explora on and evalua on of gold and silver proper es located in the “Golden Triangle” area of Bri sh Columbia, Canada.
Daniel Racine CEO
YAMANA GOLD is a Canadian-based precious metals producer with a high quality, diversified por olio, including significant gold and silver produc on; longlife produc on assets.
Nick Campbell Corporate Development CEO Cerrado Gold cerradogold.comAppia is a Canadian mineral exploration company focussed on critical materials, namely rare earths, gallium, and uranium.
Frederick Kozak President
Sincetheearlydaysofcivilization,humanshaveused miningtechniquestoaccessmineralsfromtheearth's crust.Communitiesbegantoreplacethenomadic lifestyleasHomoSapiensevolvedandthepopulation expanded.Food,water,andshelterwereallreadily availabletoearlytribeswhosettlednearthem.Human habitationbegantobeinfluencedbythelocationofother naturalresourcessoonafter.
Minedresourcesweremostlikelyamongthefirst commoditiestobetraded.Gradually,miningbecameoneof themostimportantindustriesintheglobeasthe Mediterraneancivilizationdeveloped.Thebestexampleof thisisthewealthofAthensduetotheextractionfromsilver mines.
Thejourneythatstartedfromunearthingcopperandsilver hasreachedtheminingofrareearthelementstoday.This journeyledtotheinceptionofmanysuccessfulcompanies intheminingfield.Oneoftheeminentnamesinthatlistis AppiaRareEarths&UraniumCorp Appiaisamining companythatfocusesontheexplorationofrareearth elementsanduraniumdeposits.
AppiaRareEarthsandUraniumCorp.isaCanadian mineralexplorationcompanyfocussedoncriticalmaterials, namelyrareearths,gallium,anduranium.Appiais exploringhigh-gradecriticalrareearthelementsand uraniumintheAthabascaBasinareaofnorthern Saskatchewan,aswellasdevelopingAppia'suraniumand rareearthsprojectinthehistoricElliotLakeuranium miningcampinOntario.
Since2017,Appia'sfocushasbeenonadrillingand explorationprogramontheflagshipAlcesLakerareearths propertyinnorthernSaskatchewan.Thisrareearths discoveryishostedentirelyinmonazite,amineralthathas amuchhigherpercentage(approximately50%ormore)of criticalrareearthsascomparedtobastnaesite.TheAlces Lakepropertyhasbeencalledoneoftheworld'sbestrare earthsprospects,andtypically,onlytheworld'sbest depositshavebeendevelopedintomines.
Alongwiththerareearths,thereisalsoassociatedgallium inthemonazite,anotherveryvaluablecriticalmineral.On theuraniumside,thecompanyiscontinuinganexploration programintheprolificeasternAthabascaBasinarea.Appia holdsfourclaimblocksandistargetingatornear-surface, high-gradeuranium,anditsassociatedmineralsystem. Thesepropertiesarenearexistinginfrastructure,which makesthemparticularlyattractiveforpotential development.
Canada's 10 Best Mining Companies to watchThecompanyalsohasa100%interestincertainclaimsin thehistoricElliotLakeuraniumcamparea.Thisarea containspreviouslyworkeduraniumminesplusCanada's onlyhistoricrareearthsproduction.Appiahasconducted explorationontheclaimsinElliotLakeandhasproduceda NI43-101resourcereportthathighlightstheknown potentialforuraniumandrareearthsontheproperty Additionalexplorationisbeingconsidered.
TheElliotLakecamphasproducedover300million poundsofU3O8andistheonlyminingcampinCanada withsignificanthistoricalcommercialrareearthelement production(yttrium).Appia'sElliotLakeprojecthasaNI 43-101reportthatreportsU3O8of8.0millionpounds indicatedand20.1millionpoundsinferred,plustotalrare earthelementsof47.7millionpoundsindicatedand133.2 millionpoundsinferred.
FrederickKozak,thePresidentofAppia,isa40-year veteranoftheresourceextractionindustryandtheglobal capitalmarkets.Hehasworkedinproducingand explorationcompaniesinpositionsofseniormanagement andhasextensiveexperienceandexpertiseintheworldof equitiesmarketsandfinance.Hejoinedthecompanyin March2021Replacewith"andisworkingcloselywiththe CEOandtheAppiateamastheyresumedoperationsat AlcesLakeinMarch2022foranextensiveexplorationand drillingprogram."
Thecompanyhasexcellentandextensiveuraniumassetsin thehistoricElliotLakeminingcampaswellasthreehighly prospectiveuraniumclaimsblocksinSaskatchewan.
IftheworldisgoingtomeetNet-Zerobymid-century, theremustbeamovementtowardsothersourcesofenergy otherthansolarandwind,whichhavetheirobvious limitations,aswellashydroelectricpower,whichashas beendemonstratedthisyearreliesonrainfallandissubject toshortfalls.
Nuclearpoweriscurrentlytheonlyviablelong-termpower solutionthatisgreenandclean,otherthanthefuture disposalofspentfuel.Uraniumisalogicalchoicetoassist inthemovetoa22nd-centuryeconomy.
Theongoingpandemichascreatedanumberof supply-chainproblemswhichhavehitallsectors-the miningsectorisalsoaffected.Withconsiderationtothese disruptions,Appiahasmostlybeenabletoconduct explorationrelativelyunimpeded.However,therehasbeen alargeimpactonmanpowerandhowthecompany conductsexploration.Appiahasfollowedtherelevant healthauthorityguidelinesandhassoughttooperatewith industry-leadingpoliciesandprocedures.Therehavebeen noCOVID-19outbreaksinAppia'sexplorationcampsasa result.
Theminingspaceisadefinitebeneficiaryoftheworld's moveto'netzero'andagreeneconomy.Replacinginternal
combustionengineswithelectricvehiclesrequiresan unfathomableamountofnewmineraldepositsforbattery materialsaswellaselectricmotors(rareearth metals/magnets).Thefutureoftheminingindustryisvery brightbutmustbedrivenbythemovetoimproveESGand runmoreenvironmental-friendlyexplorationand developmentprogramswherefeasible.
"In2022,Appiawillconductthelargesteverdrilling programontheAlcesLakerareearthsproperty Talking abouttheongoingplans,Fredericksaid,"Wedrilled approximately8,075metersofdiamonddrillcorein2021 andwilldrillevenmorein2022.Wearenowbackonthe groundatAlcesLake(March2022)andplantodrill 12,000+metresofdiamonddrillcore.Wearecontinuingto delineateknowndiscoveriesanddrillnewexploration targets.Lastyearweidentifiedanareaof27square kilometresofhighgrademineralization.Thisincludesthe previouslydiscoveredWRCBzoneaswellasthenew discoveriesintheWesternAnomalyarea.Thisisavery excitingexplorationprogramforthecompany."
Itisafactthatalmosteverythinghumansdependonis eithermadefrommineralsorreliesonmineralsinone orotherways.Tomeettheneedsofthegrowing populationworldwide,industriesneedtorampuptheir production.Toproducemore,manufacturersneedmore materials.Andtoprocurethesematerials,miningisamust.
Moreover,manyindustriesarerelyingonthemining industrytoacquirematerialsthatarerenewableor recyclabletoincreasethereusabilityoftheirproducts. However,thepreservationofenvironmentalresourcesisof theutmostimportancethroughouttheminingprocess.For thistohappen,theminingindustryneedsinnovationsthat embracetheenvironmental,social,andgovernance(ESG) criteriasetbytheauthorities.
Withtheaimofexploringanddevelopingsustainable miningpracticesand,atthesametime,providingrecyclable metalstovariousindustries,ForanMiningwas established.
ForanMiningCorporationisadiversifiedexplorationand developmentcompanywithprojectsincentralCanada’s FlinFlonminingbelt.Thecompany’sflagshipMcIlvenna BayProjectislocatedineast-centralSaskatchewan,65 kilometerswestofFlinFlon,Manitoba,andisdestinedto betheworld’sfirstcarbon-neutralcoppermine.
Foranisledbytheseasonedleader,DanMyerson.Heis theExecutiveChairmanandtheCEOofthecompany. Usinghisvastexperience,Danaimstobringpositive revolutionarychangestotheminingindustry
Let’s explore more about Foran Mining’s journey and its plans to achieve a carbon-free society
Foranisaminingdevelopmentcompanywithitsflagship copper-zinc-gold-silverMcIlvennaBaydepositineastern
OUR LONG-TERM STRATEGY IS TO BECOME A LEADING MINING COM PANY THAT WILL CHAMPION THE ESG REVOLUTION TOWARDS BUILD ING A DECARBONIZED SOCIETY FOR FUTURE GENERATIONS.
Saskatchewan.Itslong-termstrategyistobecomealeading miningcompanythatwillchampiontheESGrevolution towardbuildingadecarbonizedsocietyforfuture generations.
ThecompanyenvisionsMcIlvennaBayservingasthe centerofanewgreenminingcampalongtheprolificFlin FlonGreenstoneBeltdistrict,whichhashostedmine operationsforover100years.McIlvennaBaysitsonthe westernedgeofthis225kmmineralizedbeltthatcontains 29presentandpast-producingmines.
ForanMiningistheworld’sfirstcarbon-neutralcopper explorationanddevelopmentcompany.“Our goal is to build McIlvenna Bay to achieve our carbon-neutral initiatives and create a sustainable mining environment and circular economy that will benefit all stakeholders,”tells theCEO,DanMyerson.
Dan Myerson Execu ve Chairman, and CEO Foran Mining
“The dominant metal at our deposit is copper, and we believe the global copper market is unprepared for the growing demand to reach the 2050 global net-zero emission goals,”headds.
By2030,theworldwouldneedtenmilliontonsofnew coppertomeetfuturetargets(agrowthofcloseto50%of thecurrentsupply).Thisis2xthesizeofthegapthat triggeredtheearly2000sbullmarket.Ittakesdecadesto deliveraminefromdiscoverytothefirstproduction.“To fill near-term needs of ten million tons, we would need the equivalent of ten Escondidas (the largest mine in the world) and over $100 billion of investment,”Danpredicts.
Foranisconstantlyresearchingtoinventnewwaysand methodswithwhichitcanhelpprotecttheenvironmentas wellassavecosts.Thecompanyrecentlypublishedits feasibilitystudy,whichoutlinedapre-taxNPVof7%of C$1.5B.“As part of our feasibility study, we’ve included the use of underground electric equipment, which reduces the ventilation requirements, saving costs and helping the environment,”Danreveals.
Additionally,powertothesitewilleventuallybeprovided usinghydropower,arenewableenergysource.Inaddition, Foran’steamisinvestigatingalternativeenergysourcesto potentiallyreturnpowertothegridfromthesite (solar/biomass/other).
Foranaimstocreateworkopportunitiesforthepeoplein localcommunities.Thecompanyaspirestohavea significantportionofitsworkforcebefromlocal communities.
Itintendstoprovidesafeandwell-payingwork opportunitiesforlocalpeopleandiscreatinga technologicalsolutionthatallowsworkerstoremotely operatethemachines.Thecompanyplanstobuilda RemoteOperationsCentretobeusedtooperateequipment atthemine.
“This center would provide well-paying jobs without the need to travel to the site; create a favorable work-life balance (making it easier for women and people with young children to apply), and equip locals with a highly transferable skill set,”Danhints.
Mr. Myerson joined Foran from Glencore, where he was the head of Glencore’s Canadian zinc business. Given his vast global experience in the metals and mining sectors, including refined metal and concentrates trading, mining, and smel ng opera ons, Mr. Myerson has a strong understanding of an industry in need of transforma on. His views on the environment are nothing new, but his passion and tenacity to deliver a carbonneutral project in a top global jurisdic on are key drivers to the company’s success.
Safetyisoneofthetoprequirementsforminingcompanies tofulfill.Additionally,duringtimesliketheCOVID-19 pandemic,ithasbecometheobligationofeverycompany toprioritizethewell-beingofitsworkforce.
WhenaskedhowForanensuresthesafetyofitsworkforce, theCEOsaid,“We follow industry best practices with regard to safety. This includes heightened protocols during the COVID-19 pandemic, ensuring a safe and illness-free work environment on-site and in our offices.”
Theminingindustryisthefocusoftheattentionof numerousenvironmentalsupervisorybodies,aseveryone wishesforittobemoreecologicallyconscious.Thishas createdseveralchallengeswithintheindustry.Inaddition, miningcompanieshavetofollowstrictregulationssetby thegovernmenttoconducttheiroperationsthesedays.
WhenweaskedDanaboutthechallengesthemining industryisgoingthrough,herespondedbysaying,“We believe there is a lack of quality projects in quality jurisdictions.”
Furthermore,hesays,“As the world hunts for new copper projects to satiate the urgent necessity to decarbonize our planet, geopolitical risks globally are impacting direct investment in regions where government regimes and taxation remain constant uncertainties.”
“Operating in a global leading mining jurisdiction that is Saskatchewan further proves the amazing advantage Foran is fortunate and grateful to have,”Danadds.
“Companies in lower-risk jurisdictions should be rewarded with access to lower costs of capital, as well as lower discount rates applied to their valuation,”Dansuggests. AccordingtoDan,therearealsoseveralESG-related challengeswithintheminingindustry:
WhileimplementingrobustESGpracticesisbeginningto becomeaprofitablescenario,companiesembarkingon theseinitiativesarenotbeingcompensatedforthereduced futureenvironmentalrisk.
“Accessing a lower cost of capital will help make project development a less onerous reality, and it would also be a beacon for developers showing it is in their best interest to follow top ESG standards,”hepointsout.
TopromoteandinspireminingcompaniestofollowESG practices,DanthinksitisimportanttofirstmakeESGfriendlyregulations.Talkingaboutthis,hesays,“Another incentive that would benefit future push on ESG would be premium prices for producers that employ a robust ESG framework.”
“This would value ESG-focused mines at higher levels than environmentally damaging operations and would again signal other companies to employ robust ESG practices.”
Danhasextensiveglobalexperienceinthemetalsand miningsectors,includingrefinedmetalsandconcentrates trading,miningandsmeltingoperations,andcapital markets.Whenaskedwhatadvicehewouldgivetoaspiring entrepreneursbasedonhisexperienceintheindustry,he proposedthefollowingwordsofguidance.
“Keep pushing the envelope and never take ‘No’for an answer. In an industry that is set in its ways for the better
part of a century, it takes determination and persistence to break the mold and find a better way ”
“Pushing for change will benefit all stakeholders in the future as we all strive towards a decarbonizing solution,” headded.
TheForanteamiscurrentlyconductinganadvanced explorationprogramatMcIlvennaBay,whichincludes undergrounddevelopmentofanexplorationdeclineanda plannedbulksample.
Followingthereceiptofallpermitapprovalsandproject financing,thecompanywillbeginconstructionof McIlvennaBaybasedonitsFeasibilityStudyparameters, withthefirstproductionexpectedinoneandahalfyears onceconstructionbegins.
“McIlvenna Bay is expected to be the centralized mill that could be expanded in phases as we continue to explore, define, and potentially develop near-mine deposits and more within a 50km radius,”Danrevealstous.
SpeakingmoreaboutForan’sgrandfuture,hesays,“Our land package is over 1,450 km², providing us with the canvas to explore in a systematic way. The neighboring Flin Flon district has been operating for close to a century, and it is our vision to transform the Hanson Lake District into the next multi-decade mining camp.”
hroughthepotencyofprogressiveautomation, Ttheminingindustryisgoingthroughasignificant transition.Thewayminingoperationsoperateis changingsignificantly,fromtheuseofroboticstothe applicationofartificialintelligenceandmachine learning.Bybolsteringsafetyprotocols,stimulating efficiencyandprofitability,facilitatingpredictive maintenance,permittingremotemonitoringandcontrol, trimmingenvironmentalimpact,andpromotingworker development,thiswaveofinnovationisrevolutionizing thesector
In this article, we will explore how advanced automation is transforming mining operations and the benefits it brings!
Thesafetyoftheworkersisoneoftheforemost concernsinminingoperations.Traditionalmining techniquesfrequentlyincludedangeroussurroundings, exposingminerstodangersincludingcave-ins,toxic fumes,andheavymachinerymishaps.Advanced automationisalteringthegame,though,byreducingthe needforhumanstodoriskytasks.Robotswithsensors andcamerascannowbeusedtocompleteproceduresin dangerouslocationswithouttheneedforhuman personneltobethere.Thisgreatlylowersthepossibility ofaccidentsandraisesoverallsafetystandards.
Automationhasthepotentialtogreatlyenhancethe efficiencyandproductivityofminingoperations.With advancedroboticsandAI,tasksthatwereoncetimeconsumingandlabor-intensivecannowbecompleted fasterandwithgreateraccuracy.Forexample, autonomousdrillingsystemscanoperatecontinuously withouttheneedforbreaks,resultinginhigherdrilling ratesandincreasedoreextraction.Similarly,automated haulagesystemscanoptimizeroutes,reducingidletime andmaximizingthetransportationofmaterials.These advancementsleadtoimprovedoperationalefficiency andhigherproductivitylevels.
Maintenanceisacrucialaspectofminingoperations,as breakdownsandequipmentfailurescanresultincostly delays.However,traditionalmaintenancepracticesoften relyonscheduledinspectionsorreactiverepairs,whichcan beinefficientandtime-consuming.Advancedautomation allowsfortheimplementationofpredictivemaintenance strategies,wheresensorsanddataanalyticsareusedto monitorequipmentperformanceinrealtime.Byanalyzing patternsanddetectinganomalies,potentialissuescanbe identifiedbeforetheyleadtomajorfailures.Thisproactive approachtomaintenanceminimizesdowntime,extends equipmentlifespan,andreducesmaintenancecosts.
Anothersignificantbenefitofadvancedautomationin miningoperationsistheabilitytoremotelymonitorand controloperations.WiththeintegrationofIoT(Internetof Things)devicesandreal-timedataanalytics,mining companiescangaincomprehensivevisibilityintotheir operations,evenfromaremotelocation.Thisallowsfor continuousmonitoringofkeyparameterssuchas productionrates,energyconsumption,andequipment performance.Incaseofanydeviationsorissues,immediate actionscanbetakentorectifythesituation.Remote monitoringandcontrolenableefficientdecision-making, timelyinterventions,andoptimizedresourceallocation.
Theminingindustryhasoftenfacedcriticismforits environmentalimpact,includingdeforestation,soilerosion, andpollution.Advancedautomationtechnologiesoffer opportunitiestomitigatetheseconcerns.Forinstance, autonomousvehiclesanddronescanbeusedforprecise andefficientsurveyingandmapping,minimizingtheneed forgrounddisturbances.Furthermore,advancedAI algorithmscanoptimizeresourceutilization,reducing wasteandenergyconsumption.Byadoptingthese technologies,miningcompaniescanminimizetheir ecologicalfootprintandcontributetosustainablepractices.
Asminingoperationsbecomeincreasinglyautomated,the natureoftheworkforcerequiredintheindustryisalso changing.Whilesometraditionaljobsmaybereplacedby machines,newrolesareemergingthatrequireskillsin
robotics,AI,anddataanalysis.Miningcompaniesarenow investingintrainingprogramstoupskilltheiremployees andequipthemwiththenecessaryknowledgetowork alongsideadvancedautomationtechnologies.Thisshift presentsanopportunityforworkforcedevelopmentand transformation,leadingtoamoreskilledand technologicallyadeptworkforce.
Miningoperationshavealteredasaresultofadvanced automation,whichhasimprovedsafetyprotocols,increased productionandefficiency,implementedpredictive maintenancetechniques,allowedforremotemonitoringand control,reducedenvironmentaleffects,andpromoted workforcedevelopment.Byutilizingdisruptivesolutionsto streamlineprocesses,lowerworkerdangers,andboost overalloutput.Incorporatingcutting-edgeautomation technologiesbenefitsthebottomlinewhilealsopromoting environmentallyfriendlyminingmethods.Futuremining operationscanbeanticipatedtobesafer,moreeffective, andmoreecologicallyfriendlyaslongasthesector continuestoadopttheseadvancements.
Goldhasalwaysfascinatedhumanity.Asolidyet softmetal,withitsastonishingelectrical conductivityandresistancetocorrosion,gold moldstothefanciesofhumanwishandwill.
Goldneverlosesitsshinenoritsworth.Apartfrombeinga majorinvestmentcommodityusedinornamentsand jewelry,itisalsoamajorcomponentinelectricaland technologyapplications.Today,eachofourphonescarries 0.034gramsofgoldinit.
Extractinggoldresourcesfromearthenores,calledmining, issupposedbyhistorianstobeatleast7000yearsold. Thoughnobodyknowstheexacteraorthedateofit,the entireBronzeAgewasfullofgoldobjects,andminingwas alltheragethen.
Startingasamanualseparationprocess,today,goldmining hasexpandedintomorecomplexextractionmethodslike cyanidationandcarbonadsorption/desorption.
GoldisCanada'smostvaluableminedcommodity. CurrentlyminedinnineCanadianprovincesandterritories, OntarioandQuebectogetherform71%shareofthetotal minedgoldproduction.Miningcompaniesareadvancing goldproductiontomeetfuturedemands.
MapleGoldMinesLtd.isoneofthefastestemerginggold explorationcompaniesinCanada(theworld'sfifth-largest goldproducer).WithitsrecentpartnershipwithAgnico EagleMinesLimited(theworld'sthird-largestgoldmining companybyoutput),MapleGoldMineshasenteredthebig league.
LedbyMatthewHornor,President&CEO,MapleGold iscarryingoutexplorationanddrillprogramstogrow resources,makenewdiscoveries,andestablishanexciting newgolddistrictintheheartofQuebec'sprolificAbitibi GreenstoneBelt.Mr.HornorcameoutoftheIvanhoe world,wherehelearnedfromandworkedcloselywith mininghall-of-famerRobertFriedlandandishimselfa disciplinedentrepreneuranddealmaker
Underhisleadership,MapleGoldde-riskeditsflagship Douaygoldprojectthroughfocusedexploration.Itfurther enteredintoatransformativestrategicandJVpartnership withCanada'slargestgoldproducer,Agnico,whohas investedsignificantcapitalatboththeprojectandcorporate levels. 2
Thecompanyhasconsolidated400km ofhighly prospectivegroundwithacurrent2.8Mozgoldresourceat Douaythatremainsopenforexpansionlaterallyandat depth,aswellasAgnico'sunder-explored,historicJoutel miningcomplex,whichproducedover1.1Mozofgold between1974-1993.Itisanexceptionallystrongfoundation forfuturevaluecreation.
MapleGoldisactivelyexploringthemulti-million-ounce Douayandpast-producing,high-gradeJoutelgoldprojects ina50/50JointVenturewithAgnico.Italsoholdsan exclusiveoptiontoacquire100%oftheEagleMine Property Thecompanyiswell-capitalizedwith$24Min treasuryand$14MinremainingJVfundingfromAgnico.
Inadditiontocontrollingoneofthelargestundeveloped goldprojectsinoneoftheworld'slargestmineral-rich greenstonebelts,MapleGoldhasalsoassembleda technicallystrongandfinanciallysavvymanagementteam andaBoardofDirectorscomprisedofminingindustry veteranswithsignificantAbitibiexpertise.”
AccordingtoMr.Hornor,peopleareoneofthecompany's mostvaluableresources.Whenyouaddthetechnical horsepowerthatAgnicobringsbasedonitssuccessfultrack recordofprofitableandresponsiblemininginQuebecanda strongbalancesheetwithadditionalstrategicfunding available,MapleGoldmaintainsseveralcriticaladvantages overitspeers.
Speakingaboutthepandemic,Mr.Hornorsaysthatthe healthandsafetyofhispeopleandtheircommunities remainthecompany'shighestpriority.Thepandemichas ledtoadverseimpactsontheCanadianandglobal economies,disruptionsoffinancialmarkets,andcreated uncertaintyregardingpotentialimpactstoMapleGold's supplychainandoperations.Yetdespitethesenegative effects,MapleGoldhasachievedexcellentoperational performancebyimplementingstricthealthandsafety protocolsforitspersonnel/contractorsandfosteringa supportiveandteam-orientedculturethatcanadaptto rapidlychangingworkingconditions.
Mr.Hornorfeelsthatartificialintelligencethatisbeing usedtodevelopnewexplorationconceptsfromhistorical dataandthecontinuedautomationofminingoperationsare amongseveraltechnologicaladvancementsthatwillpropel miningintothefuture.
Offeringadvicetothebuddingentrepreneurswhowishto enterintotheminingspace,hesaysthatitisanincredibly rewardingcareerpaththatisnotforthefaintofheart.One reallyhastolovethisbusinessinordertoabsorbthe inevitableupsanddownsofthecommoditycycle.Asthe sayinggoes,ifitwereeasy,everyonewouldbedoingit!
AsforMapleGold'sfutureplans,theyhavealready announcedthattheFall2021andWinter2022drill programsatDouayandaPhaseIdrillprogramatEaglewill becompletedbytheendofQ12022,withadditional success-basedfollow-updrillingplannedforlaterthisyear
Finally,Mr.Hornorconcludesonastrategicnote,"Withthe goldindustry'sdecliningreservesandadearthofhigherqualitymulti-million-ounceprojects,ourstrategyisto continuetogrowourgoldresourcesandmakenew discoveriestoestablishanexcitingnewgolddistrictinthe heartoftheAbitibi."
ookingbackatthechangingways
Lofbuildinginfrastructureand instrumentsofdailyuse,obtain amountsofenergywiththesupplyof agricultureanditsfertilizersthatproduce almostallthefoodweproduceand consume.Miningholdsamajorshareof alltheindustriescombined.From diamondstogoldtoironoresandoil mines,theyhavebeenbeneficialfor embracingtechnologicalinnovationsto helptheindustrycontinueplayingavital roleinthecountry’seconomy.
Mininggoesbacktoprehistorictimes whenpeoplefirstminedflint,whichwas idealfortoolsandweaponsinbreaking intoshardswithsharpedges.Allthese profitablesubstancesthatareminedfrom theeartharecalledminerals,whilstthe processismostpopularasmining.
Anindustrylikeminingprovidesvarious rawmaterialsforequipmentuseddaily, fromaluminumcanstoelectronicchips ofcellphonesandcomputers.Itisn’t surprisingtosayminingisoneofthe humanactivitieswiththestrongestand thewidestenvironmentalandsocial impact.
Thus,understandingthewayofchanging thelandscapeoftheminingindustry highlightstheeffectsofthecurrent challengestoo.
Let’s dig in and learn more about it!
Differentperspectivesoflocalpeople’s preferencesshouldbeheldasapriorityin thedecision-makingprocess,withsome qualitativeresponses.Expertsinthe miningindustryhavecomeupwith variousresponsespointingtoskepticism. Theskepticismiscommonpracticein
communitiesofminingispre-planned;theseoftenfeel miningisn’tbeneficialtothempersonally.Theareaswhere isperceivedtobeadisruptiontoplaceattachment.
Thewidelyrecognizedmeaningfulpublicparticipationis essentialasitiskeytoensuringthesupportofthe communitywhilesecuringasociallicensetooperate.The experienceofresidentsofconsultationactivitiescouldbe negativeandwouldcontributetothemistrustofexperts. Mistrustofmineoperatorsfromlocalcommunities concerningrehabilitationsitesisacommonchore.
Residentsweresupportiveofmineralextractioningeneral, accompaniedbythereworkingofminewastes.The reworkingmineswouldcreatejobsandbringnewpeople forthebenefitofthelocalareas.Residentsrecognizedthe positiveimpactofmineralextractionwithitsroleinlocal economicdevelopment.
whilerecognizingthecurrentecologicalvalueof abandonedmines.Itsuggestsacertainpragmatismofthe roleofindustryintheeconomicdevelopmentofthearea,as ofitisappropriatemitigationisinplacetoprotectthe environment.
Asoftoday,anyfuturesocietywouldhavesimilarandeven hugeneedsforwater,food,andenergy;hence,the availabilityofresourcesistobeensuredforfuture generations.Currenteconomicgrowthisblindlyexhausting availableresourcesormissingtodevelopalternativemeans toprovidethemwithfuturegenerationsattheedgeof starvationandextinction.
Basicethicsofinter-generationalsolidaritywouldfurther compromisedevelopmentonsustainabledevelopmentwith aconceptinanenlighteningway
Miningisavastfieldofhumanactivitythatwillgoto respondtosocietalneedslikefixingandimprovingthe technosphere.Today,withadditionalresponsibilitycomes theknowledgetomakeresponsiblemanagementof resourcesandkeephealthyecosystemscapableof supportinghumansocietywithqualitylife,nowandinthe futureaswell.
Although,qualitativeresponsessuggestthattheirsupportis theleastinpartduetotheeconomicdeclineexperienced sincethelossofindustryasopposedtonecessarilybeing pre-mining.Industrysupportersrecognizedminewasteas animportantpartoftheheritageofcultureandcommunity pride.However,theyarenotnecessarilyinfavorofbeing usedtopreventeexploitationofwaste.Withcontrastingto otherperspectives,therebyresidentsplacedlittlevalueon thepotentialfornatureconservationassociatedwithmine wastes.
Despitesomeconsensus,miningheritageisequally important,whileresidentsdifferonhowitshouldbe prioritizedagainstotherconsiderations.Thelackof vegetationonminedsitesevokesnegativeimpressionson thelandscapequalitywithaddeddegradationoflandscape asviewedbythesignificantdeleteriousimpactonthe mineralextraction.
Natureenthusiastsexpressedatendencytowardsrestoring thelandscapetoitspre-miningconditions,morenatural landscapesbeingpreferredtothosethatmightseemtobe managedwithanapproachinrestorationprojects.The projectswhererestorationfornatureisoftensupported.
Environmentalistsbeforetherevegetationofmines,yet moretimeabouttherolemininghasinshapinglandscape
Currentandemergingminingprojectsneedtocoordinate withallthestakeholdersandhaveafirmholdonachieving legitlegalandsocialapprovalstobesuccessful.Local communities,inparticular,indeprivedandpoorregions, wouldsharethewealthofminingandobtainfrommininga positiveeffectintheirlives.
Manyresidentsviewminingwithheritagepositivelyforits contributiontoplace,culture,andnatureconservation.The researchaddressedthegapinlong-termmanagementwhile consideringresidents’perspectivesonrelativelyglobal interestswhileextractingmetalfromminewasters.
Theabove-mentionedwaysofunderstandingthechanging landscapeoftheminingindustrywouldseekalong-term strategytoacknowledgeandbalancecompetingneeds whileprioritizingwaterqualitywithsustainablerestoration.
How VineetTrakroo'sApproach to LeadershipTransforms Organizations!
Themeaningofsuccessvariesfrompersonto
person.Somemayassociateitwithaprestigiousjob titleorasubstantialincome,whileothersmayrelate ittoaccomplishingtheirpersonalobjectivesor experiencinggratificationintheirdailyroutines. Nevertheless,despitethevarieddefinitionsofsuccess,there isapersonwhocontendsthatclearcommunicationisa criticalfactorinattainingit.
MeetVineetTrakroo,CEOofEvolutionStrategy AdvisorsLLP,arenownedentrepreneurandbusiness transformationspecialistwhobelievesinthepowerofclear communicationandacollaborativeworkenvironment. Withovereightyearsofexperienceinconsultingfor operationalstrategyandbusinesstransformation,hehas becomeanexpertinre-engineeringandscalingupB2C organizations.Heprovidesconsultingtomidsizeandlarge organizationsonbusinesstransformation,marketingand salesstrategy,andcreatingnewbusinessestodeliver results.
ForVineet,thekeytosuccessliesineffective communication.Hefirmlybelievesthatifpeoplearegiven clearexplanationsofwhatisexpectedofthemandwhyit matters,theycandeliverexceptionalresults.Bycreatingan environmentthatchallengesthemtoworktogetherand comeupwithinnovativesolutions,heempowershisteam toachievetheirfullpotential.Heunderstandsthatevery successbuildsmomentum,drivingthreemoreprojectsand ultimatelycreatingacultureofsuccess.
Butheknowsthatfailureisanaturalpartofthebusiness journey.Asanentrepreneur,hehaslearnedtolookatwhat wentwrongandhowtocorrectitratherthangivingup.He understandsthatturningfailureintosuccessisanessential
partofthegrowthprocessandthatsuccessultimately becomesanattitude.Withhisuniqueapproachtoleadership andbusinesstransformation,VineetTrakrooischangingthe game,oneprojectatatime.
In this story, we delve deep into Vineet's journey as an entrepreneur and consultant, exploring the insights and strategies that have driven his success!
Describewhoyouareasaperson,insideandoutsideof theworkplace.
Borntoanengineeranddoctorparent,Iobviouslyhadonly twochoicesforacareer ThechoiceImadewas engineeringovermedical.That'swherethejourneystarted. Butitsoonmovedawayfrommarketing,asubjectthatwas verydeartome.Mostlymarketinghasbeenassociatedwith advertising,atleastuntilearly2015,butmypreferencewas alwaysproductmanagement,strategy,anddataanalytics. Thisledtomemanagingover50+brandsin23yearsfor someoftheleadingcorporations,includingUsha International,CavinKare,Pidilite,Beiersdorf,Voltas,and ABB.Marketingelectricalpowerprojectstoedibleoil, soaps,condoms,shampoos,firstaiddressings,hairdye, deo's,perfumes,adhesives,toasters,blenders,andmoreas CMO,VP,andHeadSales&Marketing.Managingthe Indiansubcontinentandafewinternationalmarkets
Asthewidthofproductsincreasedalongwithincreasing geography,itbecameaconstantendeavortolearnabout newbusinessesandproductsquickly.Ialwayslookedfor patternsofsimilaritybetweendifferentbusinessestolearn quicker.Analyticalthinkingandbreakingtoughtasksinto manageableelementshavebeenmystyleofworking.No challengeisbigenoughtosolve;yes,itcanbetoughand takemoretime,butitcannotbeimpossible.
Asaperson,Iwouldconsidermyselfanintrovertwhois notfondoflargegatheringsandprefersnottobeinthe limelight.IamfocusedonwhatIdoandseldommultitask. Onewouldn'tfindmeanywherebutathomeonthe weekend.Astherolewashigh-pressure,oneneededto unwindontheweekendinsolace.Iliketotravel,enjoy goodfood,practiceyoga,watchmoviestorelax,andtake longwalks.
Describeyourbackgroundandwhatdidyoudobefore youstarted/joinedthecompany.
For23years,Vineethasworkedintheconsumerindustryat differentorganizationsasheadofsalesormarketingand finallyexitedcorporatein2013asCMOandheadofthe strategy.HehasworkedwithCavinkare,Pidilite,andUsha InternationalasHeadofMarketingandatBeiersdorfand PostmanOilsasHeadofSalesandMarketing.Earlieryears werespentintheelectricalengineeringindustrywithVoltas andABBinEPCprojectmanagement.Marketing,sales, jointventures,creatinginnovativeproducts,andeither enteringnewbusinessesorrevitalizingoneshavebeenmy foraysinthecorporateworldpriortothisstartup.
In2013,Istartedthiscompanywithadesiretocrosspollinategrowthideasacrossindustriesandbusinesses.
Tellusabouttheinceptionofthecompany.Howdidit allstart?
Duringmyworklife,Iledmanybrandstolargegrowthina shorttimeoflessthanayear Thisledmetobelievethat growthislockedwithintheorganization.It'snotthe competitorswholimitabrand'soraproduct'sgrowth;it's internalfactors,whichcouldbeourassumptions,blind spots,andabilitytothinkoutsidethebox.
Post-2010,wehaveseencompaniesmovefromquarter-toquarterresultswithlesstimeforlong-termplanning.The startupandVCculturesalsodesiredquickresultswhilethe productsweregettingcommoditized.Therehadtobeanew waytogrowandidentifytheinternalblocks.Overthe years,wehavecreatedandperfectedanewwaytounlock growth.Thegrowthisdrivenbybetterideasandexecution, andthebusinessisrunondataandinsightswithstrong monitoring.Withtheincreasedavailabilityofdata,ithas becomeeasiertodriveandcoursecorrectthebusiness todaythanitwas10yearsago.Thequestionis:are corporationsawareofhowtounlockthis?
Whathasmadeyousuccessful?Whatdoyouvalue?
Theonequalitythathasgivenmesuccessisclear communicationofwhatisdesiredandwhy.Webelievethe averagepersoncandeliverexceptionalresultsifwecan explaintohimwhyandhowitwillhelphimorher.Most peoplewanttogrowandlearn.Creatinganenvironment thatchallengesthemandgetsthemtoteamupwith colleaguestocomeupwithsolutionsiswhatdrivessuccess. Onesuccessisenoughtodrivethreemoreprojects,and that'showsuccessbecomesanattitude.Ofcourse,failure doeshappentoo,butlikeanentrepreneur,oneshouldlook atwhattocorrecttoturnthefailureintoasuccessrather thanthrowingthebabyawaywiththebathwater.
Whicharethemajorservicesofthecompany,andhow dotheyhelpthecompanytogetaheadinthe competition?Whatvalue-addedservicesdoesthe companyprovide?
EvolutionStrategyAdvisorsLLPisprimarilyagrowth consultingserviceandhasofferingsthatarecategorized intofourverticals:
●BusinessTransformation:Restructuringand transformingorganizationstogrow.Here,weworkwith organizationstoofferexponentialgrowthandrestructuring ofoperations.Thefunctionsimpactedincludestrategy, marketing,sales,HR,organizationstructure,supplychain, anddigitizationandanalytics.Weenabletheclient'steam todeliverthroughourconstantsupportandmentoring duringtheexecutionphase.
●BusinessDiagnostics:Identifyingissuesthatareholding backthegrowthofabusinessoradivisionorganizations facebottleneckstogrowthdespitehavingtherightproduct andsetup.Herewegodeeperintoeachproductcategoryto unlockgrowthanddrivethesamewiththeclient.Here,we alsointroducenewproducts.
●ExecutionalExcellence:Insales,marketing,brand management,andanalytics.Wecatertoorganizationsthat arelookingatnewapproachestomarketingorsales operationsandGTMtogrow.Wereworkbrandsandtheir positioning,identifynewmarketsorgrowthareas,and designasharperroutetomarketswithimproveddelivery andefficiency
●Licensingandalliancesbringinternationalbrandsto IndiaforJVsandlicensingwithIndiancompanies.
Wehavebeenassociatedwithmanyinternationalbrands likeCoty,Honeywell,Westinghouse,etc.,andhaveties withleadersinthefieldoflicensing.
Whatarethemostimportantaspectsofacompany's culture?Whatprinciplesdoyoubelievein,andhowdo youbuildthisculture?
Wehaveaveryseniorteamwhohavespentover25–35 yearsintheindustry,andeachhasbeenaCXOorCEO withpersonalexperienceinturningaroundcompaniesor growingthem.Theyareself-motivated,andwhatdrives themmostisanewchallenge.Asweworkacross industries,itcanbechallengingattimestocross-pollinate ideasfromoneindustrytoanother Thetaskof implementationistoughascompanieshavedifferent cultures,andthisrequiresmaturityfromtheconsultant. Theyhaveseenmanyupsanddownsintheiryearsof experience,soevenrecessionaryorCOVIDchallenges don'taffectthem.
Ourvaluesarequickresults,practical,sincere,andfactual; domainexperience.
Weofferquickturnaroundtimesforgrowthtoourclients, asouradviceispracticalandbasedontheexperienceofour team,whichhasdomainexperienceintheclientindustry Ouradviceisbasedondataandnotgutfeelings,andwedo notover-promiseaswepartnerwithexecution.Webelieve inhavingopenandsincererelationswithourclients,as that'swhatbuildstrustandahealthyexecution.
Whatisthesignificanceofinnovativeideasinthe company?
Innovationleadstosuccessandsometimesdisruptionifit startshappeningregularly.Therehastobesomepartofthe businessinnovatingandsomepartexcellingindelivery. Productinnovationorlogisticalorsupplychaininnovation, oncedecided,needsasystemforimplementationand achievingquickersuccess.Innovationdoesn'thappen everywhereandisrare.Goodprocessesandsystemscan alsohelpyoudeliverabettercustomerexperience.Theyare bothtwopartsofthesamecoin.
Giveusyouropinionon;doorganizationsrelyheavily onindividualheroicsorteamprocesses.
Heroicsmaygivedirectionandavision,butyouneed peopletoexecutethem.It'snotdifficulttodreamvs.the
One success is enough to drive three more projects, and that's how success becomes an attitude. Of course, failure does happen, but like an entrepreneur, one should look at what to correct to turn the failure into a success rather than throw the baby out with the bathwater
abilitytoexecute.Processesarerequiredeventuallywhen youhavemasteredthekeytogettingresults.However,no processispermanent,asallproductsandserviceshavea finitelife.Asconsumersdemandmore,oneneedsto evolve;thatcan'thappeninthesameprocessunlesswe buildinnovationintoourprocessesanddelivery.We believesuccesscomesthroughsystems,practice,and continuousimprovement.
WhatareyourresponsibilitiesastheFounder/CEOof thecompany?Whatisthehappiestpartofyourdaily routine?
AsthefounderandCEO,Iamresponsibleforallthe functionsandthesmoothrunningofthecompany.Butthe mostimportantrolethatIplayisinbusinessdevelopment andmanagingclientrelationships.Themostenjoyablepart ofthedayisworkingonclients'businesschallengesthat seemdifficulttosolveandinteractingwithclientsin solvingthem.
Whatadvicewouldyougivesomeonegoingintoa leadershippositionforthefirsttime?
Whenoneenterstheroleofaleader,it'saresponsibilityas youareresponsibleforthesuccessofyourteam.Thusit's importantthatonebuildsbridgeswithallteammembers andunderstandstheirstrengthsandcapabilitiessotheycan deliverandprosper Aleaderisonlyasstrongashisteam. Anopenculturethatisopentocritiquehelpsidentifyissues andsolutions,butoncedecisionsaretaken,therehastobe clearresponsibilityfordelivery.Thereisnobettersupport fordecision-makingthandata.
