NWMA Meeting Highlights Industry Opportunities – and Problems

With the dissolution of the former USSR and a welcoming of foreign, minerals expertise by a host of developing countries, a "new," more international, world of minerals is open to the mining industry. However, even in the new frontier, the old laws of nature still apply. For those attendees of the 98th annual Northwest Mining convention, the adage "survival of the fittest" commanded particular attention. Miners, engineers, geologists and other unique species traveled to Spokane in December to learn of adaptations they can make to assure, or at least prolong, their place in the mineral industry's land of the living. You have heard the tales of the spotted owl and the desert tortoise, but add to this endangered list the North American mining industry. During a session on international investment criteria, D. Silver of Balfour Holdings (Littleton, CO) blamed excessive environmental regulation, 1872 Mining Law revision and the anti-mining-and-business attitude of our government for migrations from and extinctions within the domestic mining population. "We've been on a death curve for some time," Silver said, "with a lower birth rate and a higher death rate. In the last four years, we've lost 60% of the gold producers in North America, and we're down to 110 companies. The entire industry has lost about 400 companies and is now down to 2800." Unreasonable regulation founded on emotion rather than scientific fact has been the chief cause of death, according to many of the convention speakers. B.J. Kennedy, president and chief operating officer of FMC Gold (Reno, NV), emphasized, "We have accepted a regulatory environment - but we oppose being strangled to death by unreasonable regulations."