For its Wednesday, May 25th, meeting, the Discussion Group of CIM’s Management and Economics Society is pleased to welcome:
Tin Lwin, P.Eng.
Managing Principal, Technical Advisory Services – Export Development Canada
who will deliver a presentation on:
Capital Cost Over-runs and Operational Performance in the Mining Industry
Abstract: Significant cost over-runs have been endemic in the mining industry. As a lender with a significant lending portfolio facing this issue, EDC needed to identify and mitigate such over-runs. A 2012 study identified sources of cost over-runs from internal data for 12 projects and a 2015 study used internal and external data to characterize attributes of 78 projects that experienced over-runs.
For operating mines, lenders focus on operational performance and their technical due diligence considers the prospective accuracy of forward looking performance parameters, particularly for operations with relatively high costs in a low commodity price environment. While due diligence caters to each operation’s specific characteristics and attributes, the analysis seeks to discover if there are patterns of interest that would complement the assessment.
Tin will discuss how the findings of these EDC studies have come to influence a lender’s perspective in addressing cost over-runs and operational performance in the mining industry.
BIO: Tin Lwin is Managing Principal, Technical Advisory Services, at EDC and a licensed professional engineer with 20 years of mining and metals project finance transaction and 28 years of engineering, project management and commercial experience. He led technical due diligence activities in the majority of mining and metals project finance transactions undertaken by EDC, including some as mandated technical agent for commercial lenders and export credit agencies. He has project experience in Asia, Africa, North and South America and Oceania, and has been involved in large, complex transactions in the mining and metals sector.
Wednesday, May 25th, 2016
Refreshments at 4:15pm – Presentation at 4:35 pm
Borden Ladner Gervais LLP
Scotia Plaza, 40 King St W, 44th floor, Toronto
All are welcome to this excellent networking and learning opportunity. Please RSVP by email to email@example.com if you are interested in attending.
Thank you to our sponsor, Borden Ladner Gervais LLP for again providing the space.
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