Industry Titans Address Issues Facing Minerals Exploration SEG Conference

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SEG Minerals Conference Opens in Keystone Colorado.

The Society of Economic Geologists (SEG - http://www.segweb.org) opened its biennial conference yesterday with key note addresses from executives of the world's largest mining and gold exploration companies. The conference, titled “Wealth Creation in the Minerals Industry – Integrating Science, Business, and Education,” departs from the traditional scientific focus of SEG conferences of the past.

The theme throughout the presentations centered on the challenges the industry faces to make new high quality discoveries at a time of unprecedented demand for minerals, the need for innovations in exploration discovery techniques and the need for personnel that are well trained not only in exploration but also with skills in managing social and environmental responsibilities.

In opening the conference John Dow, SEG President and Meeting Chair, challenged delegates to find ways to better integrate the disciplines of science, business and minerals education if earth scientists are to be able to make the new discoveries the world is demanding.

Pierre Lassonde, President of Newmont Mining, the world’s largest gold producer, emphasized the need for a holistic view not only of science and technology but also business cycles, economics and market value when evaluating exploration opportunities. “Even though exploration is the life blood of the industry, it is also imperative to ensure an economic return to the shareholders and to the societies in which we operate.”

Chip Goodyear, another opening keynote speaker and CEO of BHP Billiton, the world's largest mineral resources company, presented his company's strategy for global minerals exploration and highlighted the dramatic demand for minerals created by China’s growing economy, and the expected demand to follow from India’s economic growth. He emphasized the long term value created by world class 'greenfields' mineral discoveries and the importance of integrating business development with 'brownfields' exploration.

The conference runs through Tuesday, the 16th of May. More information is available at http://www.seg2006.org.

Contact:

Brian Hoal

Director, SEG

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