McGill COSMO, CIM Montréal, in collaboration with CIM MES Montréal, are pleased to present:
Consultant, Change Management & Mining Project Development
who will deliver a presentation on:
Beyond Boom and Bust: New Leadership Paradigm to Manage Risks of Commodity Prices
While recessions are certain to occur during a cycle, yet many mining companies are taken by surprise when they are faced with one. The root causes of this phenomenon lie in their behavior during the upturn and faith on forecasts. Companies should monitor their costs instead of relying on the forecast of future prices. The presentation proposes a paradigm shift by making following changes in the way the companies manage the cycles:
- Companies should focus on maintaining a lower position on the cost curve in order to be cash positive during the bottom of the cycle. This will limit the cash outflow during the upturn and render companies in a stronger position during recession.
- Achieving a paradigm shift during the growth cycle will be difficult given the market pressure. The presentation advocates pursuing the main tenet of mindfulness, which consists of paying attention in the present moment, instead of imagining the future.
Bish Chanda earned a bachelor degree in Civil Engineering in his native India and was accidentally drawn into a mining career when he immigrated to Canada in 1967. After some time in Consulting Engineering offices, in 1972 he joined the Iron Ore Company of Canada’s (IOC) Sept-Iles operations and worked there for 25 years until 1997. After his early retirement, he started an international consulting career. In 2002, he co-founded an iron ore development company, later listed as New Millennium Iron (NML). He was Senior VP – Marketing & Strategy. He retired from NML in 2015 and devotes his time as a Consultant. He has authored an on-line EduMine course titled “Achieving Sustainable Improvement through Behavior Change”. He is presently writing another on-line course, which will be based on today’s seminar.
Wednesday, January 24th, 2018
12:15pm – 1:45pm
Refreshments will be served
Closing Remarks: 1h40PM
Room 126, FDA Building, 3450 University Street, Montréal
Adams Building, 3450 University Street (third building on the left as you head North on University Street, between Milton and Sherbrooke), Room 126, Montréal, Québec H3A 0E8
The seminar is complimentary and seats are limited. Register by Monday, January 22, at 12noon to secure your place. Please RSVP to Lise Chartrand, Secretary, CIM Montreal Branch at firstname.lastname@example.org or Tel. (514) 425-5553 if you are interested in attending. This is an excellent networking opportunity and there is no charge to attend. So we can best service all who are interested and able to join us at this upcoming event please register for it if you are confident that you are indeed able to attend it. Thank you for your interest and understanding.
Thank you to our sponsor, McGill University’s COSMO (Stochastic Mine Planning Laboratory), for providing the space!
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