Since 1915, the Northern Miner weekly newspaper has chronicled Canada’s globally significant mining sector.
They call themselves “miners in Gucci loafers,” — a suitable moniker for Pierre Lassonde and Seymour Schulich, considering that they make up one of Bay Street’s most financially successful gold mining partnerships. Now they have a new name: The Northern Miner has decided to name the longtime partners its 1997 “Mining Men of the Year,” in recognition of their exemplary performance and solid track record.
The two Toronto-based companies Lassonde and Schulich founded more than a decade ago to acquire gold royalties — Franco-Nevada Mining (FN-T) and Euro-Nevada Mining (EN-T)– have carved a highly profitable industry niche, producing impressive returns for shareholders. But the partners also earned their place in the rough-and-tumble mining world by meeting the challenges associated with finding and developing a new mine.
Earlier this year, Franco and Euro began construction of the Ken Synder mine in Nevada, an operation that promises to be one of the lowest-cost gold producers in the world. At the same time, the companies are keeping their hand in the exploration game by funding work in several of Canada’s foremost gold camps.
Throughout their careers, Lassonde and Schulich have demonstrated a commitment to their industry, and to society, by contributing time, energy and financial resources to many worthwhile causes.