ZINC: TINKA HITS 52 METRES OF 10.1% ZINC AT AYAWILCA IN PERU / 2 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM
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Taking a close look at the red metal / 9–12
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APRIL 17–30, 2017 / VOL. 103 ISSUE 8 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM
Matt Manson and the long road to production at Renard INTERVIEW
| TNM’s Mining Person of the Year for 2016
BY JOHN CUMMING jcumming@northernminer.com
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n this feature interview, Matt Manson, president and CEO of Stornoway Diamond (TSX: SWY), reflects on his decade-long journey leading the company that transformed Renard from a grassroots exploration project in remote Quebec into the province’s first diamond mine — a feat that earned him our “Mining Person of the Year” award for 2016 (T.N.M., March 6–19/17). The Northern Miner: Going back to the beginning, when you worked for Aber Diamond, how much of an influence was it on what you did later with Stornoway? Matt Manson: I was working with Aber from 1997 as a consultant and then from 1999 as an employee, through into late 2004. I did the project financing for our share of Eira Thomas and Matt Manson with a display of Renard bulk-sample diamonds in November 2008. STORNOWAY DIAMOND Diavik. I was the Aber representative on the Diavik construction could acquire an interest in that committee with Rio Tinto, and “MINING IS A RISK- AND LUCK-BASED project. That led, in 2006, to my went through the setup of all the BUSINESS. YOU DON’T GET LUCKY company Contact and the original operations. Stornoway run by Eira Thomas, We had a very specific business UNLESS YOU’RE PREPARED TO DRILL putting our companies together growth perspective back then, and bidding for Ashton (Mining around 2002–2003. It was very AND SEARCH FOR SOMETHING.” of Canada), which had 50% of the much Bob Gannicott’s vision: we MATT MANSON asset. Rio Tinto, as 51% owners of were not going to operate Diavik. PRESIDENT AND CEO, STORNOWAY DIAMOND Ashton, wanted out, and everybody We were minority partners and we knew that. would only operate the sale of the Harry Winston, and then turning that stage, along with Bob himself, We bought Ashton by locking diamonds. We would become really good at the company into an integrated I was the last mining person in the up Rio Tinto, and then ended up consolidating all three companies. that, and we invested in the down- company with — as Bob described company, essentially. I wanted to stay in mining. I When the bid was actually stream part of the business. We it — the bookends of the business: came to understand it, and I was in a mining investment and a retail wasn’t cut out for the luxury goods happening in 2006, people were Antwerp for months on end. investment. business. scratching their heads. It looked That ethos eventually led us all I was fully on-board with the viAgnico Eagle Mines was looking like Stornoway buying Ashton the way down the pipeline to buy sion, but I was a mining guy, and by for someone to run a subsidiary and Stornoway buying Contact, called Contact Diamond that had and people were saying, “Who diamonds assets in Ontario, in the are these Contact Diamond guys, Temiskaming area. I thought that and why are they in the mixture?” was a good opportunity, so I said But we were in the mix because my farewells and left in late 2004. it was our idea. We had Agnico Agnico was a fantastic bunch to Eagle in looking at Renard and go and work with. And with this they went through all the numjunior company Contact, they bers. The Agnico team had done gave me a mandate to put in flow- all the due diligence and we liked through and explore. But if I found it. And Agnico, in that bid, put a deal, they’d back it. in $20 million into a $60-million Your Technical Services Partner in Geochemistry and Metallurgy Immediately we began looking war chest. That was our cash bid For more information, scan this QR at the thing called Renard, which for that company. code or visit www.alsglobal.com was the new Quebec diamond disThat’s sort of the path we’ve Phone: +1 604-984-0221 covery, and Agnico was a Quebec- been on ever since. I always give based gold miner. RIGHT SOLUTIONS RIGHT PARTNER See MATT MANSON / 14 We’d started to see how we
Barrick sells half of Veladero for $960M GOLD
| Barrick and buyer Shandong Gold to codevelop Pascua-Lama BY SALMA TARIKH starikh@northernminer.com
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arrick Gold (TSX: ABX; NYSE: ABX) is selling half of its Veladero gold mine in Argentina to Shandong Gold Group for US$960 million, as part of a strategic cooperation agreement with China’s leading underground mining firm. The agreement calls for the companies to examine jointly developing the suspended Pascua-Lama gold project, and further examine investment opportunities on the prospective El Indio gold belt on the border of Argentina and Chile, which hosts Veladero, Pascua-Lama See BARRICK / 2 PM40069240
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GEOLOGY: UNEARTHING CANADA’S OLDEST STORY / 6–7
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