Canada: Mining and the Changing (Metal and Finance) Markets

When:
November 25, 2020 all-day
2020-11-25T00:00:00-08:00
2020-11-26T00:00:00-08:00
Cost:
Free
Contact:

For its Wednesday, November 25, 2020 meeting, CIM’s Management and Economics Society is pleased to welcome:

Mauro Chiesa

Project Finance Advisor – Independent Advisor

 

who will deliver a presentation on:

Mining and the Changing (Metal and Finance) Markets

 

Abstract: There Canadian mining has been spoiled to date. With the USA to the immediate south, the EU to the immediate east and Japan to the immediate west, Canada’s natural resources never needed to go far to reach the G7 markets. McKinsey now projects that 52% of the world’s GDP will come from Asia in the next 20 years; this compares to 42% for the G7 today. The metal client pays CIF so as the F grows, the C must accommodate. As Asia consists from Japan to the Middle East and contains more than half of the world’s population whose consumption curve and wealth has just begun, serious cost adjustment must be undertaken for the soon-to-be distant mines and Canadian companies will have to look for Asia-centric mining and recycling more often. Then there will be a host of Asian countries who, as mining hosts, will be increasingly demanding; just look at LNG. And with a capital market that will be more demanding of mining companies in terms of both least-risk and in terms of dividend yields. The capital markets will not abate. With the seven AFATMAN* firms now totalling over US $8 tn, the 50 top mining companies that total US $1 trillion, pale in comparison. The future mining company must tackle on many fronts: it must cut costs with better metallurgy and processing, or move to Asia and of course pare back on risk more, and pay out more dividends.

(* Alphabet, Facebook, Apple, Tesla, Microsoft, Amazon, and Netflix)

 

BIO: Mauro Chiesa is a semi-retired professional financier and advisor, specialising in mining and infrastructure projects. Mauro’s background is varied: he started with Export Development Canada in Ottawa for four years, worked in New York City for twelve years with two merchant banks and then ten years with the World Bank Group, just after the Iron Curtain fell. His varied career has seen three liquefied natural gas (LNG) projects, numerous power projects (mostly independent power projects (IPPs)), numerous mining projects in various stages of development and joint-venture petrochemical projects. Mauro continues to dabble on the advisory side as the capital markets have changed radically, and projects are far fewer. Mauro has a BA and MBA from the University of British Columbia, has done upgrading work at Wharton and is tri-lingual.

 

Please join us!

Wednesday, November 25, 2020

 

Seminar is complimentary and seats are limited. Register by Tuesday, November 24, to secure your place. Please RSVP by replying to secretary@cimmes.org if you are interested in attending.

 

 

Thank you to our sponsor, Schulich Executive Education Centre.

 

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