Mining magnate emerges as major U. of Utah donor – by Brian Maffly (The Salt Lake Tribune – November 5, 2012)

http://www.sltrib.com/

Pierre Lassonde » After a career that included environmental and stockholder controversies, the Canadian gold guru is expanding entrepreneurship efforts at the U.

At his inauguration last month, new University of Utah president David Pershing highlighted gifts from the Huntsman and Noorda families, who have long-standing ties to the state. Other donor names familiar to Utahns — Eccles, Marriott, Sorenson, Skaggs and others — are emblazoned on buildings and programs throughout campus.

But it’s Canadian mining-magnate-turned-philanthropist Pierre Lassonde, far less known and with a more distant connection to Utah, who is now emerging as one of the U.’s most generous donors.

Pershing devoted the most literal “face time” to images of Lassonde during his inaugural address, hailing his “unbelievable commitment” to turning students into entrepreneurs. His latest gift will fund the proposed Lassonde Institute, which would provide housing for up to 400 students interested in adding entrepreneurship to their majors, whether or not they are focused on business.

After earning a master’s in business administration at the U. 30 years ago, Lassonde became an astute gold analyst and investor.

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‘Rail-veyors’ and robots [mining innovation] – by Julie Gordon (Reuters/Sudbury Star – October 29, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

In an office trailer parked outside a mine shaft in a Copper Cliff Mine, operator Carolyn St-Jean leans back in her chair and monitors a machine loading nickel-rich ore into rail cars deep underground.

Once filled, the automated train will snake through a series of narrow tunnels, emerge from a rocky outcropping, then loop past St-Jean’s window and dump its payload for sorting.

Vale SA, the Brazilian company that owns the mine near this nickel-rich area, has spent nearly $50 million in two years to install and test the “ra i lveyor.” The company believes the transport system will revolutionize how it builds and extracts new mineral deposits.

The equipment is made locally by Rail-Veyor Technologies Global Inc. It is one of many mining technologies developers hope will allow future production to be run almost entirely by people safely above ground.

Such advances may prove crucial as easy-to-exploit deposits run dry and miners drill deeper in more remote places to supply China, India and other emerging economies. The technology could make mining cheaper and safer, avoiding the need to dig wide tunnels and hire large numbers of expensive, skilled workers.

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Death of an Industry: The Decline of Canadian Mineral Exploration – by Brent McNiven, B.Sc Geology, MBA-PM (October 2012 – Part 2 of 2)

Brent McNiven holds a B.Sc Geology from the University of Calgary, and MBA-PM from Athabasca University. Working in 12 countries in the Americas since 1993, he has been a business consultant involved in market and industry analysis, owned / operated various consulting and contracting businesses related to mineral exploration, and has extensive experience in cross cultural project management. Fluent in Spanish, he is a former resident of Peru, Venezuela, and Brazil. He can be contacted at: sedex@shaw.ca

Lowest Common Denominator:

Of interest are the results of an informal poll conducted at the PDAC 2012, where Canadian students soliciting field exploration work were asked “what does a geologist do”. The responses to the question were disturbing in that none could provide more than simplistic one word answers, and not a single response presented a higher level, or comprehensive understanding of the field of study, even when prompted.

The results of the poll, combined with their demonstrated lack of field experience, present an equivalent level of preparation of the recent graduates interviewed in Mexico and Peru. Latin American labor laws (and culture) generally eliminate the possibility for students to gain summer work experience, so their response was expected, but it is not the historical condition of Canadian graduates.

The quality of education, and by extension the quality of the graduates varies widely across countries, and universities, however the findings and cost benefit analysis are, that provided interview and selection process were valid ie the best candidates were carefully selected and duds weeded out, that in actual field exploration conditions, the difference in performance by nationality is not significant.

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Death of an Industry: The Decline of Canadian Mineral Exploration – by Brent McNiven, B.Sc Geology, MBA-PM (October 2012 – Part 1 of 2)

Brent McNiven holds a B.Sc Geology from the University of Calgary, and MBA-PM from Athabasca University. Working in 12 countries in the Americas since 1993, he has been a business consultant involved in market and industry analysis, owned / operated various consulting and contracting businesses related to mineral exploration, and has extensive experience in cross cultural project management. Fluent in Spanish, he is a former resident of Peru, Venezuela, and Brazil. He can be reached at the following email address: sedex@shaw.ca

Executive Summary:

The purpose of this paper is to provide a qualitative overview of the state of the Canadian mineral exploration industry, and the changes observed over the past 15 years, and hopefully provoke meaningful discussion on future direction.

The junior mining and exploration sector that once formed a discreet, integrated and dynamic economic entity has become a fragmented and isolated group of investors / managers with narrow focus and short term (often short-sighted) mandates, operating too many companies (excess supply) lacking sufficient resources to be effective.

The contracting and consulting sectors have been sharply reduced in scope and capacity, and face increasing international competition, for example Australia, but also local actors in every market, resulting in consolidation, increased barriers to entry and lost opportunities.

Where Canada once produced world class exploration geologists, the failed industry / university link consistently graduates students without any field experience and lacking even the most basic exploration skills.

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NEWS RELEASE: Mining Association of Canada launches new scholarship for mining finance students

Shortage of young professionals needed in fields of mining and mineral economics

OTTAWA, Oct. 23, 2012 /CNW/ – The Mining Association of Canada (MAC) has announced the launch of a new scholarship available to Canadian university students interested in pursuing a career in mineral economics.

MAC and its members established the Paul Stothart Memorial Scholarship following the passing of its valued colleague, Paul Stothart. A graduate of Queen’s University (MBA Finance, Bachelor in Civil Engineering), Paul was an accomplished professional who was passionate about advancing the Canadian mining industry in his role as MAC’s Vice President of Economic Affairs, which he held from 2006 to 2012. The scholarship is valued at $3,500 and will be awarded annually to one student studying either a Bachelor or Master of Economics, or Master of Business Administration. Candidates must also demonstrate an interest in mineral economics through current or future course work.

As of today, students are able to submit their applications until April 15, 2013. The inaugural scholarship will be awarded to the selected candidate for the 2013-2014 school year.

A 2011 report from the Mining Industry Human Resources Council (MiHR) estimates that the mining industry in Canada must hire 100,000 new workers over the next decade to replace retiring workers and to fill new positions.

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Goodman donates mystery amount to Laurentian (Northern Miner – October 22-28, 2012)

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry.

Dundee Corp. (DC-T) CEO Ned Goodman and the Goodman Family Foundation have made a significant financial contribution to Laurentian University in Sudbury, Ont.

The money will go towards a $20-million endowment fund in support of the university’s newly created Goodman School of Mines, which remains under development. The exact amount was not disclosed, but the university said that with this “historic gift” and other donations, the school has raised more than half of the $20 million needed.

“It will support the development of new mining-related courses and programs, improvements to the learning environment and opportunities inside and outside the classroom, student recruitment, career and placement services and guest speakers, and other specific uses of funds to be mutually agreed upon,” Laurentian president Dominic Giroux explains.

Goodman has worked for more than 40 years as a geologist, securities analyst, portfolio manager and senior executive. He was instrumental in turning the Dundee group of financial companies into a $50-billion mutual fund business.

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The tricky business of funding a university – by James Bradshaw (Globe and Mail – October 17, 2012)

Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

When billionaire entrepreneur Ned Goodman announced a major gift this week that will stamp his name on Laurentian University’s new School of Mines, he made it clear how he wanted it spent: directly on student experiences, and not on the school’s fixed costs.

Mr. Goodman’s gift (the amount was not disclosed) will go toward a $20-million endowment for the school, which will fund bursaries, scholarships, study abroad and career placement opportunities, and identify possible new degree options in areas of industry demand. The Dundee Corporation chief executive officer will have a seat on the school’s Global Advisory Council, which oversees how endowment funds are spent, but has no say over hiring or curriculum.

Laurentian, in Sudbury, has watched other Ontario universities face harsh criticism over donor agreements deemed by some to give private funders too much sway over academic matters. President Dominic Giroux hopes Mr. Goodman’s advisory role will keep him connected to the school while respecting academic boundaries.

“[The agreement]… is a useful construct which avoids getting into research integrity matters or academic freedom, but also allows industry to know tangibly the impact of their investment,” Mr. Giroux said.

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How to raise the quality of postsecondary education in Canada – Globe and Mail Editorial (October 6, 2012)

Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Canada’s universities and colleges must find ways to enhance the perennial strengths of higher education, and also to learn how to convert their scientific research into useful, commercially viable products.

Higher education in this country has great strengths – and significant shortcomings. At 51 per cent, Canada has proportionately more 25 to 64-year-olds with a university or college education of all OECD countries.

And as a recent report of the Canadian Council of Academies shows, Canadian researchers – both scientific and humanistic – are among the most respected in the world. However, the number of Canadian patents is not correspondingly large. And the proportion of research done in our universities, rather than in the private sector, is unusually high.

Originally, the phrase “liberal arts” did not just mean the humanities; in fact, the quantitative sciences had a slim majority. There were seven in all; three (the “trivium”) were based in language: literature, logic and rhetoric; four (the “quadrivium”) were mathematical: astronomy, geometry, algebra and, perhaps surprisingly, music – but in recent years, digital media are conspicuous in both music and visual art.

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[Sudbury] LU president back for second term – by Jonathan Migneault (Sudbury Star – October 19, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Despite opposition from professors, Laurentian University president Dominic Giroux received unanimous support from the school’s board of governors for a second term that will extend to June 30, 2019.

The board endorsed the unanimous recommendation of the Presidential Review Committee to renew his term as the school’s president and vice-chancellor.

“The feedback we received was overwhelmingly positive about the university’s accomplishments and progress since Dominic Giroux joined us,” Floyd Laughren, chair of Laurentian’s board of governors, said in a release. “Our board is extremely pleased with president Giroux’s performance and we are excited by the compelling vision that has been presented for the years ahead. We are fully confident that president Giroux is the leader to make the vision a reality.”

But not everyone at the university was pleased with the decision to give Giroux a second five-year term as president. A vote from the university’s faculty, before the Presidential Review Committee’s recommendation, did not go in his favour. Giroux took that in stride, however.

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NEWS RELEASE: [NED] GOODMAN FAMILY INVESTS IN $20M ENDOWMENT FUND FOR LAURENTIAN UNIVERSITY’S SCHOOL OF MINES

(L to R) Michael Atkins, Laurentian Board Vice-Chair; Anita Goodman; Ned Goodman, CEO of Dundee Corporation; Terry MacGibbon, Chair of Laurentian Next 50 Campaign; Laura Katz, 2nd Year Masters of Science Student, Earth Sciences Department; Dominic Giroux, President of Laurentian University

Please note, although Laurentian President Dominic Giroux starts the video speaking French the remainder is in English.


FOR IMMEDIATE RELEASE

SUDBURY, ON (OCTOBER 15, 2012) – Ned Goodman, CEO of Dundee Corporation, and The Goodman Family Foundation – JODAMADA, announced today a historic gift to Laurentian University’s new School of Mines. In recognition of the Goodman family’s generosity, Laurentian University President Dominic Giroux announced that the university will name the school in the Goodman family’s honour.

Ned Goodman’s business and investment experience spans more than 40 years as a geologist, securities analyst, portfolio manager and senior executive, and he has an established reputation as one of Canada’s most successful investment counselors. He was the driving force of the Dundee group of financial companies, which grew under his family’s leadership from a $300-million base to a $50-billion mutual fund entity. Mr. Goodman’s work in the mining sector helped bring investment and jobs to many remote northern Canadian communities. By providing financing to many junior companies and helping to build successful, growing companies, he helped thousands of other Canadians prosper. He described his family’s gift as a vote of confidence in the future of mining.

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[Ned Goodman] Donor hopes to create world’s best mining school – by Heidi Ulrichsen (Sudbury Northern Life – October 16, 2012)

http://www.northernlife.ca/

LU names mining school for Ned Goodman

Ned Goodman said his goal is nothing less than to make the Goodman School of Mines the best mining school in the world.

Laurentian officially named its new mining school after the CEO of Dundee Corporation Oct. 15 after the Goodman Family Foundation made a large contribution to an endowment fund set up for the mining school.

The contribution was made with the condition that any financial commitment, present or future, remains confidential.

However, Laurentian University president Dominic Giroux said the Goodmans’ contribution, along with others, brings the university more than halfway to the endowment fund’s financial goal of $20 million.

Goodman is a geologist, securities analyst, portfolio manager and senior executive, and has invested in many mining operations.

He was the driving force of the Dundee group of financial companies, which grew under his family’s leadership from a $300 million base to a $50 billion mutual fund entity.

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Aboriginal studies featured for mining institute – by Ian Ross (Northern Ontario Business – October 2012)

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business ianross@nob.on.ca.

A proposed mining institute at Thunder Bay’s Lakehead University will place a strong emphasis on acting as an “honest broker” in dialogue between industry and First Nations.

If there’s one focus of study that will be addressed as a Centre of Excellence in Mineral Exploration and Sustainable Mining Development takes shape it’s the need to bridge the cultural gap often widened by the lack of communication and consultation.

Geology professor Peter Hollings, who’ll head up the institute, said the goal of the centre is to be a one-stop repository of experts and research for both companies and Aboriginal bands. “We want the natural answer to be Lakehead.”

For years, both industry and First Nations have chafed at the lack of definitive government rules on consultation in Ontario. Hollings knows the frustration that exists on both sides.

“We hear it a lot from industry and the First Nation communities who don’t fully understand the difference between a junior company coming in to do prospecting and drill a hole, as opposed to Cliffs Natural Resources coming to develop the Ring of Fire.

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Goodman makes historic donation [to Laurentain’s School of Mines] – by Jonathan Migneault (Sudbury Star – October 16, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

A substantial donation to Laurentian University’s upcoming School of Mines will help propel the school to the top of the world heap in the discipline, said Laurentian President Dominic Giroux.

On Monday the university announced that an “historical gift” from Ned Goodman, the president and CEO of the Dundee Corporation, has put the school ahead of the halfway mark to create a $20 million endowment fund for the new mining school.

“To have the Goodman name associated with Laurentian University is exceptional,” Giroux said.

Through the Dundee group of financial companies Goodman helped build a $50-billion mutual fund entity. After he was laid off by Noranda in 1960 he went on to get his MBA from the University of Toronto and eventually became an important financier of Canada’s mining industry.

To honour Goodman and his donation, the exact amount of which has not been disclosed, the new school will be officially named The Goodman School of Mines. “It’s a school that needs the investment,” Goodman said about Laurentian. “It’s in the right place and it has the right background and it should be one of the best mining schools in the world, but it’s not there yet.”

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[Sudbury’s] Laurentian masters, PhD programs popular among U.S. students – by Sebastien Perth (Sudbury Star – September 29, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

There’s never been much debate over Sudbury’s status as a leader in mining technology in Canada and it seems that reputation is well established around the world, as well.

The three-day long MINExpo conference in Las Vegas wrapped up Wednesday with some 50,000 people checking out mining equipment manufacturers, job opportunities and higher education.

The Greater Sudbury Development Corporation organized a delegation from Sudbury that included city staff and Mayor Marianne Matichuk and representatives from 10 local companies that work in the mining sector. Ramesh Subramanian, the director of the Bharti School of Engineering at Laurentian University, said he was blown away by the sheer scale of the conference.

“This was my first time there and it was simply amazing. The size of the whole thing. It was insane. I’m at an Ontario Universities Fair now and this is a pillow fight compared to what they have there. Almost 50,000 people there, it was amazing,” Subramanian said.

Laurentian was one of those 10 local companies or groups to join the city delegation. Subramanian was one of the few academic types to attend. He went to recruit students to complete their masters and doctorates in Laurentian’s mining programs.

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Mining drives new MBA approach – by Denise Deveau (National Post – September 25, 2012)

The National Post is Canada’s second largest national paper.

When a sector has achieved global leadership status, the demand for skills can stretch beyond the output of mainstream education channels.

This is very much the case in the mining sector, where the appetite for knowledge about how the industry and system works is driving a new approach to MBA studies.

According to Jean Vavrek, executive director for CIM (Canadian Institute of Mining, Metallurgy and Petroleum) in Montreal, skill sets are changing more and more in the line of “softer issues” related to social acceptance and license.

“The industry is dealing with much more complex environmental issues, more regulations, deeper ore bodies, remote exploration … the dynamics and the management challenges are only getting bigger,” he says. “So is the potential for career development.”

Canada needs to accelerate the development of future leadership, Mr. Vavrek adds. “The potential on the management side is big, from project management and capital expenditures to exploration and development. What managers are facing today in this sector dwarfs most other industries.”

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