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MEGWA talk, May 2014, presented by John Sykes, Director, Greenfields Research Ltd (UK), also Centre for Exploration Targeting Provisional PhD Candidate, Department of Mineral & Energy Economics, Curtin Graduate School of Business, Adjunct Research Fellow, Department of Geology & Geography, University of Western Australia
Copper is an important component of the modern economy, however, total copper “resources”, and both the size and number of copper deposits are finite. For this reason, the copper mining industry sees its long-term future through the concept of resource depletion. In recent years, the previously opposing “opportunity cost” and “sustainable development” resource depletion paradigms have converged on a “controlling idea”, within the copper industry. Under these paradigms, the “copper of mine of tomorrow” is a large, low-grade deposit, facing “sustainable development” problems and requiring higher copper prices (the “opportunity cost”) to become “economic”. As a result, the copper industry needs radical innovation and technological development in mining and processing to mitigate these problems. This assumes, by implication, only a minimal role for exploration in the future of the copper industry. In this future, copper exploration merely outlines further, ever-lower quality copper “resources”. In response, this presentation will challenge the “controlling idea” and offer an alternate hypothesis, suggesting that the ‘development problem’ is a ‘discovery problem’. Investigating whether exploration can help mitigate resource depletion and sustainability problems, by opening up new “search space” and unveiling high-quality copper deposits with the potential for both “economic” and “sustainable development”. In this case, the “copper mine of tomorrow” would be a high quality, as yet, undiscovered deposit, which can meet the twin goals of “economic” and “sustainable development”.
About the Speaker
John Sykes is studying a PhD entitled “Finding the copper mine of tomorrow: Exploration targeting for copper mines, not copper resources” at the Centre for Exploration Targeting, which draws expertise for the Department of Mineral and Energy Economics at Curtin University and the School of Earth and Environment at the University of Western Australia. John’s prior academic training includes a Master of Science in Geophysical Hazards from University College London and a Master of Science in Geology (with Honours) from the Royal School of Mines, Imperial College London. After realising there are quite literally “no jobs in volcanoes” nor any mines in London, John turned to the dark side, working as a mineral economist, specialising in the copper industry, for commodities consultancy, CRU Group. Subsequently, during the depths of the 2009 global financial crisis, John decided it was an appropriate time to set up his own consultancy (Greenfields Research) analysing long-term mine project development and exploration trends and strategy, targeting the junior mining sector in London, Australia and Canada. Ultimately this consultancy business developed into the PhD research underway at the Centre for Exploration Targeting. John is also a Fellow of the Geological Society of London, a Chartered Scientist, and a Member of both the UK’s Institute of Materials, Minerals and Mining and the Australian Institute of Mining and Metallurgy.
Drinks from 5:30 pm, sponsored by Ravensgate.
The MEGWA Committee is always interested in offers of an interesting presentation/story. If you have one you would like to share, please contact Jocelyn Thomson.
