Mineral Exploration

Photograph : Erich Petersen /S ociet y of Economic Geologist s F A L L 2 0 1 5 11 Planning for the future THE SOCIETY OF ECONOMIC GEOLOGISTS IS TRAINING THE NEXT GENERATION OF INDUSTRY PROFESSIONALS By BoB Foster T he cyclical nature of our industry is something we have long since come to terms with, but the extreme double-dip over the past seven years has been a harsh reminder of how quickly things can change for the worse. The larger companies knuckle down to focus on production, with an emphasis on reducing costs in any way possible, look- ing to mergers and acquisitions to grow. New mine development is critically reviewed and put on hold where either the project economics or the corporate vision dictates the preservation of cash. Exploration, if sustained, is focused more on brownfield opportunities that can deliver ore to the existing plant, and greenfield exploration teams are slashed to the absolute minimum – or worse. Of course, it's not just geologists who suffer – the pain is felt across the very wide spectrum of professionals who drive the industry. Those who have managed to survive in the industry for long enough to have saleable track records often swell the ranks of the service sector as consul- tants, taking whatever tasks can see them through the downturn until the companies can see the economic light of day and invite them back into the fold. But how many get lost along the way, having decided that yet another downturn is the final straw, and move into agriculture, retrain as teach- ers, serve pizzas, or just call it a day? At the young end of the spectrum it is even more demoralizing. Young geosci- entists and engineers with perhaps a cou- ple years of experience are just beginning to move up the learning curve, flushed with professional enthusiasm, only to find that they are the earliest casualties of cutbacks – a realization that they are truly expendable. And of course, this feeds back to their even-younger coun- terparts, who are considering university training leading to careers in the indus- try only to realize that the future could be a minefield of uncertainty and pain. How many have quickly refocused on some other area of science or engineer- ing and so denied the industry the bright new talent that is essential for a sustain- able future? This leaves our industry facing two absolutely critical dilemmas: how to attract and then retain young talent to grow with the industry, and how to nur- ture the mid-career professionals who are essential to the future leadership. The need for succession planning at this top end of the spectrum is possibly the most serious challenge of all, as without the drive and foresight of our most capable professionals, the industry will founder. A recent review of the sector by recruit- ment specialist Stratum International noted that mining professionals tend to retire earlier than those in other indus- tries and that, as the current generation Students logging core on a SEG student field trip at Maricunga mine, Chile.

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