North American partners: SME and CIM join together at Minnesota meeting

The 86th Annual Meeting of the SME Minnesota section/74th Annual University of Minnesota Mining Symposium partnered with the Canadian Institute of Mining Metallurgy and Petroleum (CIM)?s Iron Ore Symposium for a historic joint conference, held this year in Duluth, MN, April 15- 17. One of a flurry of recent collaborations between SME and CIM, the joint conference was a natural fit for the conference held in the heart of the Iron Range. As CIM National President Terence Bowles said in his joint keynote with SME President Jessica Kogel, ?The U.S. imports $51 billion from Canada and Canada imports $38 billion the U.S.; that?s 50 percent of Canada?s exports and 51 percent of its imports.? The two countries? economies are linked, and nowhere more closely than in their iron ore mining activities. Kogel opened the conference with a plenary speech identifying the top 10 issues facing mining and how these issues present opportunities for mining companies. She said that it is important that the mining industry stay flexible and adapt to changing conditions, or it will go the way of the dinosaur. However, she said that these challenges can lead to new opportunities. For example, one of the major challenges facing mining is the current state of risk aversion among investors, which makes for ?less money in the pipeline.? However, this situation creates a better climate for mergers and acquisitions, which is another, less risky way to get funding. Likewise, another challenge globally is geopolitical risk; this challenge is likely to drive growth toward stable countries, which was good news for an audience composed mostly of Minnesota and Canadian mining industry personnel. One of the highlights of Kogel?s address was a triangle illustrating the interdependent nature of sustainable development and corporate social responsibility (Fig. 1). This triangle consists of four equal components: the social environment, transparency, local and global impact and future generations. The most important takeaway, Kogel said, was that sustainable development and environmental and social responsibility, while they do add to the cost of doing business, are no longer optional.