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Sean Roosen’s motto is “SUDS.” It stands for “shut up and drill, stupid!” The mining executive says it’s a message his industry needs to embrace as it battles through another slump.
Environmental protectionism has gone too far, mining permits need to be more easily obtained and there’s too much interference from non-governmental organizations (NGOs), which he says “do nothing” for the economy.
The loud, burly career miner is no slick Bay Street executive. He calls himself a “hillbilly.” But he’s someone who people listen to. Mr. Roosen heads up one of a handful of Canadian mining royalty companies, but he’s best known as part of a trio who founded, developed and built Canadian Malartic, Canada’s biggest gold mine. In the process he pioneered a new method of mining that revolutionized the notoriously slow-to-innovate industry.
Over the past few years, he’s also emerged as an outspoken advocate for Canadian mining. Earlier this year, sporting a bold windowpane-check suit, Mr. Roosen delivered a state of the union keynote address at the Prospectors & Developers Association of Canada conference, the world’s biggest mining conference, that was half rant and half call to action.
While he acknowledged the many deep-rooted problems the industry faces, including difficulty raising capital, waning interest from investors and the massive flight of capital out of mining and into marijuana stocks, he also pleaded with remaining investors to stick it out.
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