Sudbury: Terry MacGibbon, former FNX Mining executive, shares secrets to his billion-dollar success (CBC News Sudbury – June 16, 2019)

MacGibbon has been at the helm of 4 mining companies

Terry MacGibbon has been a major player in Sudbury’s mining industry. He pulled the trigger on some million-dollar deals, including selling his company FNX Mining, and being the guiding force behind several other junior mining companies.

But during a recent Laurentian University graduation ceremony, where he was given an honorary doctorate, MacGibbon told CBC’s Morning North that he issued new graduates a challenge.

“Looking forward to the next 50 years, they have to solve the climate, like climate change and it’s not just a single thing that a government or a company can do,” MacGibbon said. “We all have to do it.” “We all have to make our choices of how we live.”

MacGibbon said he understands the challenges that come with change, especially in an industry like mining. He began his journey as an underground miner with Inco in 1968.

“I started right out of school at 21 and after 30 years I decided it was time to go out on my own and see what I could do without ‘mother Inco,'” he said. “I took over a fledgling junior exploration company called Fort Knox Gold Resources. Its trading symbol was FNX and that’s where the name FNX Minerals mining came from.”

“I took that over and there was just one employee — myself — and it was a very bad time to make that move, because dot-com mania was going on, like weed mania is going on today, and all of the speculation of risk capital was going into the dot-com business.”

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