Management & Economics Society

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MES

Founded	July 1974
Dissolved	·
Type	Professional Organization
Location	Canada
Area served	Worldwide
Method	Conferences, Professional Development Events
Members	500+
Website	www.cimmes.org

The Management and Economics Society (MES) provides a home within the Canadian Institute of Mining Metallurgy and Petroleum (CIM) for mining industry professionals whose focus is economics, finance and management. Members come from several areas of professional endeavour, including: senior management, geology, engineering, metallurgy, environmental, law, accounting, taxation, banking, investments, academia, government, human resources, social development, consultancy and insurance.

The formation of MES as a Committee of CIM was formally approved by CIM Council on 12 July, 1974. It was the brainchild of Dr. Robert Bruce Elver of the then Mineral Resources Division of the federal Department of Mines and Technical Surveys in Ottawa. He recognized the potential impacts on the use and development of Canada's mineral resources from such events as the nationalization of mining operations over the previous decade in a number of international jurisdictions, publication of "The Limits to Growth" by the Club of Rome in 1972 and the first oil crisis of 1973.

Dr. Elver proposed to CIM Council that the Institute should provide a forum for debate on these issues. The background was set out in the CIM Bulletin of September 1974 as follows:

"Never before have the issues of mineral policy and the many questions pertaining to how mineral resources should be privately or publicly managed been the subject of such widespread political debate, both within and outside Canada. At the same time, there is a dearth of information and analysis relative to changing needs for understanding and resolving the issues underlying mineral policy."

"... The list of problems is almost endless. Fundamental to the analysis of these problems is mineral economics, but mineral economic analysis should not be done in isolation from scientific, technological, and corporate matters."

Dr. Elver became the first chair of the Mineral Economics Committee to which he nominated five individuals from the general membership of CIM, and seven additional representatives from each of the Societies and Divisions.

Dr. Elver joined the federal Mineral Resources Division as a ferrous industry specialist not long after graduating in applied geology from the University of Toronto in 1957. He spent the next 22 years with the government until his untimely death in 1979. During that time, he represented the department at meetings of international bodies, including the Steel Committee of the OECD and the Steel Committee of the Economic Commission for Europe. He became progressively more involved in Canadian regional economic development and pioneered work in mineral resource evaluation. In 1971 he became coordinator of the office of Mineral Policy Review at a time when an integrated federal-provincial approach to mineral resource development was clearly needed. Shortly afterwards, he was appointed director of the Mineral Economics Division of the Mineral Policy Sector of what had become Energy, Mines and Resources, Canada (now Natural Resources Canada). Dr. Elver was active in CIM at both the national and branch levels.

• To facilitate the exchange of knowledge and professional development through presentations, publications, conferences, and symposia, as well as, through live and web-based short courses.
• To raise funds to support educational university programs and to provide scholarships to qualified students.
• To provide information to stimulate ideas that will reach a wider audience both within Canada and internationally.
• To promote fraternity and provide opportunities for networking.

In 1992, The Mineral Economics Committee became a society of CIM. In 2004, its name was changed to the Management and Economics Society.

Chairs of the Mineral Economics Society (1992–2004) and then the Management and Economics Society (2004 to date) were as follow:

Kerry Smith 1992/93 Don MacLean 1993/94 Gordon McCreary 1994/95 Paul Lunney 1995/96 Craig Roberts 1996/97 Robert Halupka 1997/98 [1] Keith Spence 1998/99 1999/00 Jane Spooner 2000/01 2001/02	Brian Johnston 2002/03 2003/04 Jane Spooner and Ted Yates 2004/05 Barbara Mossop 2005/06 2006/07 Keith Spence 2007/08 2008/09 2009/10 Alicia Ferdinand 2010/11 2011/12 2012/13	Richard Jundis 2013/14 Alicia Ferdinand 2014/15 Carlos da Costa 2015/16 2017/18 2018/19 2019/20 Jacqueline Allison 2020/21 2021/22 Carlos da Costa 2022/23 2023/--

[1] At the end of his term, Rob Halupka suggested that a two-year term would be more appropriate since it takes a year essentially to learn all that goes on. However, it will be seen that several chairs have served longer than two years and/or have stepped back into the position.

Objectives

The objectives of the Committee, and then the Society, evolved over the decades but have always focused on education in mineral economics and professional development. They are summarized as follows:

2014 – "Project Risk: The News Ain't All Bad"

2015 – "The Feasibility Study – Relevance, Value, Expectations"

2016 – "Mining Project Development – What needs to change!"

2017 – "Shaking Up Our Industry – Being Smarter This Time"

2018 – "The Emerging Cycle: Risk Mitigation & Opportunities"

2019 – "Mining's Pressing Issues – Mine Tailings, Mergers & Acquisitions"

2020 – "What Does the Future Hold? – Mining investments within the Green Economy – A Paradox?"

Conference Sessions and Events

Mineral Economics Symposia

A series of 14 stand-alone Mineral Economics Symposia were held in Toronto and Vancouver between 1980 and 2003.

1980 – "Perspectives on Mineral Evaluation and Forecasting" (Toronto, 17-18 November)

198? – "Changing Gears – Mining's New Competitive Structure"

198? – "Managing for Strategic Advantage"

1986 – "Managing for Strategic Advantage" (Vancouver, 11-13 November)

1989 – "Leaders in the 90s" (Toronto, 24-26 January)

1991 – "Back to Basics: Valuation of Mineral Properties and Companies" (Toronto, 17 January)

1992 – "Back to Basics: Managing the Risks to Reap the Rewards" (Toronto, 16 January)

1992 – "Valuation of Mineral Properties and Companies" (Vancouver, 27 January)

1993 – "Mining 2001: A Canadian Odyssey" (Toronto, 21 January)

1996 – "Global Opportunities: Emerging Mining Markets" (Toronto, 25 January)

1997 – "Corporate Strategy in Mining: Finding, developing and operating mines in the 1990's" (Vancouver at Roundup, 27 January)

1999 – "Shifting Sands ... Changing Investment Climates for the International Mining Industry" (Toronto, 25 January)

2001 – "Mining in Transition: Consolidation, Returns and Shareholder Value" (Toronto, 22 January)

2003 – "Mining Agreements: Deal Makers and Deal Breakers" (Toronto, 20 January)

Management and Finance Day

Starting in 2008, MES developed and hosted "Management and Finance Day" at the CIM Annual General Meeting (AGM).

2009 – "Living with the Downturn" (Toronto)

2010 – "Perspectives on Valuation" (Vancouver)

2011 – "Financing International Projects: Mines Without Borders" (Montreal)

2012 – "Facing our New Challenges: Minerals for all Seasons" (Edmonton)

2013 – "What You Don't Know Will Hurt You!" (Toronto)

2014 – "Reading the Market – What Happens Next?" (Vancouver)

2015 – "The Real Cost of Doing Business" (Montreal)

2016 – "Mining in Crisis – Where to from Here?" (Vancouver)

2017 – "Planning for the Long Term" (Montreal)

2018 – "The Next Big Change: The Economics of Water, Waste and Closure" (Vancouver)

Rocks and Stocks Professional Development Series

In 2014, MES and the CIM Toronto Branch jointly established the "Rocks & Stocks Professional Development Series", in part to provide a mineral economics focused event in Toronto.

Technical Programs at the CIM Annual General Meetings

Starting in 1979, MES has regularly hosted full and part-day technical sessions at the AGM with a particular focus on mineral economic and financial issues. Details on these sessions, held between 1979 and 2004 can be found on the CIM MES website - see External Links. (Note: work continues on the documentation of MES-hosted AGM sessions after 2004.)

Workshops and Special Events

In addition to technical sessions at the AGM, MES has hosted or co-hosted a number of workshops and special events:

• "Valuation Day" in March 2000 organized by the CIMVAL committee at the CIM AGM in Toronto held jointly with the Prospectors and Developers Association of Canada (PDAC). A proceedings volume of the papers was subsequently published by CIM.
• A full-day workshop was held at the 2003 AGM in Montreal on mineral property valuation methodologies.
• A full-day workshop titled "Knowing the Risks, Don't Learn Them the Hard Way" was presented at the 2005 AGM.
• In 2007, MES was a co-organizer for "Copper 2007", the Sixth International Copper-Cobre Conference in Toronto hosted by the Metallurgical Society of CIM with the Chilean Institute of Mining Engineers. MES convened three sessions with a total of 16 papers on copper industry economics and marketing.
• Through CIMVAL, MES organized a session at the 2019 AGM in Montreal titled "Mining Valuation – International Convergence & Market Viewpoints".

Mineral Economics Discussion Group

Since the mid-1980s, meetings of the Mineral Economics Discussion Group have taken place approximately once per month in Toronto between September and April. A regular program of meetings has taken place in Vancouver since 2015 and in Montreal since 2017. Since the start of the COVID-19 pandemic, a full program has been maintained in a webinar format that better serves all CIM and CIM MES members and guests throughout Canada and internationally.

Development of Professional Practice Standards

A number of industry issues have been dealt with through the Ore Reserves Committee, set up in 1991 and the Mineral Property Valuation Committee (CIMVAL) set up in 1999.

Mineral Resource and Mineral Reserve Definitions

In 1991, MES formed a Special Committee on Reserve Definitions with the objective of preparing recommendations for Mineral Resource and Mineral Reserve Definitions to Council. The report of the Special Committee was presented to CIM Council in May 1994 and was published in October 1994.

The Standing Committee on Reserve Definitions was formed to continue the work of the Special Committee. Administered by MES, the committee would liaise with the Canadian Securities Administration (CSA) on behalf of the mining industry. In August 2000, the committee became a CIM Standing Committee reporting to CIM Council and the CIM Definition Standards on Mineral Resources and Mineral Reserves were established.

This was particularly significant in light of the fraud perpetrated by Bre-X Minerals in 1997 that prompted the formation of the Mining Standards Task Force (MSTF) by the Ontario Securities Commission (OSC) and the Toronto Stock Exchange (TSX). The draft report of the Task Force was issued in June 1998. One of the primary recommendations was that the CSA include the CIM Guidelines for the Estimation, Classification and Reporting of Resources and Reserves by reference in National Instrument 43-101 (NI 43-101) which was to replace National Policy 2-A and National Policy 22. NI 43-101 came into effect on February 1, 2001. The CIM Definition Standards have been revised and updated periodically, most recently in May 2014.

The mandate of the CIM Standing Committee on Reserve Definitions was:

1. to keep abreast of changes and advances in Resource and Reserve classification, definition and reporting and recommend changes and updates to the CIM Definition Standards as required.
2. to provide a conduit between the industry, the CIM and the CSA for dealing with comments, questions and issues arising out of the use of the existing CIM Standards.
3. to facilitate, in conjunction with the CSA, the incorporation of the changes to the CIM Definition Standards in NI 43-101.
4. to continue representing the CIM and Canada on the Council of Mining and Metallurgical Institutes' (CMMI) initiative to harmonize classification and definition of resources and reserves.

The Standing Committee compiled and published more extensive documentation on "Best Practices" in the mining industry as recommended by the MSTF. Overtime Best Practices were developed on Exploration, Reporting of Diamond Exploration Results, Mineral Resource and Mineral Reserve Estimation, and Mineral Processing. From time to time, the Guidelines for Mineral Resource and Mineral Reserve Estimation have been expanded to include guidance on a number of specific commodities.

CIM Mineral Valuation Committee (CIMVAL)

In its final report the Mining Standards Task Force specifically recommended that CIM form a "committee of valuation practitioners to review and advise on approaches to valuation of mineral properties".

On May 5, 1999, CIM approved the formation of the Mineral Property Valuation Committee (CIMVAL). The Committee reported directly to CIM Council and was administered through MES. The CIMVAL Standards and Guidelines (Final Version) was adopted by CIM Council in March 2003. The three generally accepted valuation approaches were set out, namely the Income Approach, the Market Approach and the Cost Approach, and directions were provided for the circumstances under which each should be used.

The mandate of CIMVAL is to recommend Standards and Guidelines for Valuation of Mineral Properties to be used by the mining industry in general and to be adopted by Canadian securities regulators and Canadian stock exchanges.

The guiding philosophy and intent of the CIMVAL Standards and Guidelines is that Mineral Property Valuations be carried out by appropriately qualified individuals and that all relevant information be fully disclosed. The Standards and Guidelines are based on industry best practices and allow for professional judgement in certain instances.

The key objective was to develop a working document containing a Canadian code and guidelines which Canadian valuation practitioners are required to follow in the process of valuing a mineral property. An additional key focus is that the committee focuses on the valuation of mineral properties as assets, not on the valuation of companies holding these assets. For purposes of clarification, "valuation" in the CIMVAL Standards and Guidelines is concerned with the value or worth of a mineral property as opposed to "evaluation" where the key objective is an economic assessment or determination of the economic merit of a mineral property.

In addition, valuation should be stage-based so that the approach used to value a mineral property or mining project depends on the development stage of the property.

The CIMVAL Standards and Guidelines are organized into two parts. The first consists of Standards which are general rules that are mandatory in the Valuation of Mineral Properties. The second part contains Guidelines which elaborate on the Standards and, while not mandatory, provide guidance and best practices which are highly recommended to be followed in the valuation of mineral properties. Definitions are included in the Standards. Where practical, terms are defined in a manner consistent with NI 43-101.

After several years of review, CIMVAL was updated and adopted by CIM Council on November 29, 2019. The update process involved an Exposure draft which was issued to the public in June 2019. Subsequently, 13 public submissions were received and the CIMVAL Committee held various consultations with regulatory bodies such as the Canadian securities regulators and the Toronto Stock Exchange. Key changes in the updated document include the change of name to "Code" from "Standards" in order to be consistent with other international valuation codes and the format and structure to follow International Mineral Valuation Committee (IMVAL) Template, with many references to International Valuation Standards (IVS).

The members selected for the inaugural committee were:

• Michael Bourassa, Aird and Berlis (Secretary, Mining Regulatory Lawyer, Toronto)
• Craig Roberts, First Marathon Securities (Investment Banker, Former Chairman of the Mineral Economics Society, Vancouver)
• Christopher Lattanzi, P.Eng, Micon International (Mining Consultant with experience in Valuation, Toronto)
• Ross Lawrence, P.Eng., Watts, Griffis McOuat (Mining Consultant with experience in Valuation, Toronto)
• Ian S. Thompson, P.Eng., Derry Michener Booth and Wahl (Geologist with experience in Valuation, Vancouver)
• Paul Lunney, MBA., Noranda Inc (Mining Engineer, Former Chairman of the Mineral Economics Society, Toronto)
• David A. Scott, CIBC World Markets, (Investment Banker, Toronto)
• Willoughby A. Trythall, (Former Placer Dome executive, Vancouver)

VALUATION APPROACHES AND METHODS

The Income Approach: is based on the income-producing capacity of an asset such that the asset value is measured by the present value of the "net economic benefits (cash flows)" received over the life of the asset. The present value of these benefits is calculated by adjusting the net economic benefits for the value impact of time and investment risk.

The Market Approach: also known as the "Sales Comparison Approach", is based on the principle of substitution. An asset being valued is compared with the attributed transaction value of similar assets, transacted in an open market. Methods include comparable transactions, market capitalization analysis and option or farm-in agreement terms analysis.

The Cost Approach: is based on the principle of "Contribution to Value". The appraised value method is commonly used where exploration expenditures are analyzed for their contribution to the exploration potential of the mineral property and may be adjusted for market conditions.

Development Stages of the property:

The approach used to value a mineral property or mining project will depend on the development stage of the property. Mineral properties are categorized as:

1. Exploration Property: A property that may have a mineral occurrence due to its location or initial exploration work highlighting a possible geological anomaly.
2. Mineral Resource Property: A property that has been subject to enough exploration work to delineate mineral resources in a industry-recognized resource category such as inferred, measured or indicated.
3. Development Property: A property that is being developed for future mining operations.
4. Production Property: An operating mine.

Typically, the Income Approach is only considered for properties with sufficient exploration and technical work to prepare a life-of-mine model that details future metal production, capital costs, operating costs, taxes, and other payments that can form the basis for cash flow projections. The information requirements for the income approach restrict its use to production and development properties and qualifying mineral resource properties.

The Market Approach can be used for all stages of development of mineral properties or mining projects.

The Cost Approach is typically used to estimate the value of early-stage projects such as exploration properties and mineral resource properties with insufficient information for the Income Approach to be used.

CIMVAL developed a Valuation Chart which summarizes the stage of development of the project, and the appropriate approach that should be utilized. This Chart is now recognized as an industry standard and quoted in several published works, and presentations.

THE CIM VALUATION CHART: Valuation approaches for different types of mineral properties

Valuation Approach	Exploration Properties	Mineral Resource Properties	Development Properties	Production Properties
Income Market Cost	No Yes Yes	In some cases Yes In some cases	Yes Yes No	Yes Yes No

Source: CIMVAL Standards & Guidelines 2003 – Developed By CIMVAL Committee.

CIMVAL UPDATED IN 2019

After several years of review, CIMVAL was updated and adopted by CIM Council on November 29, 2019. Key changes in the updated document include:

• Name change to "Code" from "Standards" to be consistent with other international valuation codes
• Format and structure follow International Mineral Valuation Committee (IMVAL) Template; with many references to International Valuation Standards (IVS)
• Section 2 Standards - provide more detail on key elements
  • Principles of Competence, Materiality, Reasonableness, Transparency, Independence, and Objectivity
  • Scope of work and limitations
  • Mineral Reserves and Mineral Resources
  • Responsibilities and Qualifications of the Qualified Valuator
  • Provision for Short Form as well as Comprehensive Valuation Report
• Section 3 Guidelines - updated but similar to 2003
• Section 4 Definitions - more comprehensive than 2003

Education and Professional Development Initiatives

One of the goals of MES is to further education in mineral economics by supporting supplemental programs on related topics at Canadian universities. Educational and professional development activities, in addition to the annual Rocks & Stocks Professional Development Series (see above), are described below.

Support for Education in Mineral Economics

Multi-year Course Support

This has included funding of mineral economics and mineral resource and reserve estimation in undergraduate programs at the University of Toronto, the University of British Columbia and Queen's University and sponsorship of the Canadian Mining Games. Multi-year commitments have included the following:

• University of British Columbia, Mining Engineering Dept–1997: 5-year commitment, 1997-2002, for $8,000/year for a total of $40,000.
  • Purchase of mine modeling software, teaching of ore reserve estimation, establishing a database of metal prices and capital and operating costs, and course development.
• University of Toronto – Lassonde Mineral Engineering Program: 3-year commitment, 2002-2005, for $10,000/year plus two one-year extensions for a total of $50,000.
  • Partial support for programs taught by adjunct professors.

Short Term Funding

MES encourages Canadian universities to submit short-term funding proposals relating to educational initiatives focused on mineral economics, such as course development, field trips and purchase of educational material or equipment. Initiatives approved for MES support include:

• Queen's University, Dept. of Geological Sciences and Geological Engineering
  • Course preparation and teaching, 2002/03, 2003/04, 2004/05 and 2005/06 ($6,500/year)
  • Mining and Exploration Agreements, September-November 2002 ($3,000) taught by Adjunct professor, Karl J. C. Harries, QC
  • 4-day short course on Ore Reserve Estimation, October 2002 ($3,500)
• Laurentian University, School of Engineering, January 2002 – September 2003 ($1,000)
  • Cost Evaluation for Underground Mine Pre-Feasibility Studies: A Comparative Study.
• McGill University, Department of Earth and Planetary Sciences, 2002 ($400)
  • Field Trip in Conjunction with Ore Deposits Course, Spring 2002
• Queen's University, Dept. of Geological Sciences and Geological Engineering, 2007/08
  • Modules on Ore Reserve Estimation (George McIssac) and Corporate Social Responsibility (partial funding of $5,000 request)
• Queen's University, Dept. of Geological Sciences and Geological Engineering and Mining Engineering, 2010/11 and 2011/12 ($6,000)
  • Mine 815 Course – Mine Valuation and Financial Administration ($5,000)
  • Applied Science 321 Course – Economic Analysis Methods in Mining and Geological Engineering ($1,000).
• Ingenium Foundation – University of Toronto, The Munk School of Global Affairs and Public Policy, 2018 ($3,000)
  • Contribution to a study entitled "The Economic Benefits of Research and Development in the Canadian Mining and Metallurgy Sector", part of the Canada Science and Technology Museum's series on how mining and metallurgy impacted development in Canada.
• University of Waterloo, 2018 ($3,000) – Field trips and guest lecture on the assessment of an aggregate deposit delivered by MES member Jeff Plate

MES-COSMO Scholarship

Under this ongoing program, the award of $3,000 per annual recipient provides financial support for undergraduate mining engineering students who are enrolled in Canadian universities and have a focus on strategic mine planning optimization under uncertainty and related risk management, or other topics as considered appropriate by the Selection Committee.

MES administers the scholarship which is funded by the COSMO Mining Industry Consortium; initially the target was one award per year and increased to up to two awards per year from 2018. The COSMO consortium has provided scholarship funds totaling $24,000 ($15,000 in 2016 and $9,000 in 2017); six scholarships have been awarded to date:

• 2016 – Ziad Saliba, McGill University, Dept of Mining and Materials Engineering.
• 2017 – Alexa Dumaine, University of British Columbia, Norman B. Keevil Institute of Mining Engineering.
• 2018
  • Dominic Guthrie, University of Alberta, Department of Civil and Environmental Engineering and the School of Mining and Petroleum Engineering.
  • Adam Stanley, McGill University, Dept of Mining and Materials Engineering.
• 2019 – Simon Lacoste-Bouchet, McGill University, Dept of Mining and Materials Engineering.
• 2020 – Jesse Peters, University of British Columbia, Norman B. Keevil Institute of Mining Engineering.

MES-Richard Leblanc Scholarship 2019

This $500 one-time scholarship was awarded to one of the female student volunteers at PDAC 2019; the recipient was Cassandra Ranger, an undergraduate student at Laurentian University (Earth Sciences and Environmental Studies).

Collaboration with CIM Foundation

Since 2020, online silent auctions are held once or twice per year in collaboration with the CIM Foundation to raise funds for education.

MES Don Worth Memorial Bursary 2022

The one-time $500 award to a University of Toronto student enrolled in mineral economics courses recognizes the contribution of Donald (Don) J. Worth to CIM and his support of MES from its earliest days. The recipient was Zhitian (Jenny) Luan, an undergraduate student in the Lassonde Mineral Engineering program, Department of Civil and Mineral Engineering.

CIM Science North Joint Venture 2022-2026

In the amount of $3,000/year over five years for a total of $15,000, MES contributes to the development of the Earth's Riches project (a mining game) to include financial support and the participation of a member of the MES Executive Committee in the steering team.

Professional Development

MES and Toronto Branch Student Day

This annual event showcases careers in mineral economics and includes a seminar on networking, and in more recent years, the effective use of social media. Launched in 2010 as the MES Careers Showcase and Networking Seminar, a few years later, the CIM Toronto Branch became a co-host with MES.

Student Day may include a workshop, careers showcase or 'fireside chat' with industry professionals, and a networking seminar. Attendees have the opportunity to talk with industry professionals at the event and, when possible, afterwards at a student-industry luncheon or other social event.

Tours of a capital markets trading desk and Brinks Canada have also been offered.

Collaboration with The Marquee Group Inc., 2017-2020

MES co-marketed mining financial modeling and other Excel-based courses which were delivered by The Marquee Group in Toronto and Vancouver. The funds raised by MES support its educational initiatives.

Mentor Interviews

These are conducted to provide students with continuous access to guidance provided by senior industry participants in a variety of roles. To date, interviews have been conducted with the following and are available on YouTube (search the name and reference number):

• Mauro Chiesa (March 2021) ref 20210316
• Alvaro Gomez (April 2021) ref 20210409
• Baljir Baatartogtokh (April 2021) ref 20210412
• David Garofalo (April 2021) ref 20210427
• Monica Ospina (April 2021) ref 20210427
• Terence Ortslan (November 2021) ref 20211129

Structures of MES

Committees

The society functions through the work of the following core committees, many of which originate from the early days of the original Mineral Economics Committee:

• Professional Development (previously Education Committee)
• Communications
• Publications/Peer Review
• Annual General Meeting Planning
• Rocks & Stocks (professional development conferences)
• Standards & Publications
• Discussion Group

Chapters

Chapters of MES are active in Toronto, Vancouver, Montreal, and the United Kingdom. (A chapter in Hong Kong and Saskatoon are presently in abeyance.)

Robert Elver Mineral Economics Award

Since 1981, the CIM Robert Elver Award in Mineral Economics has been awarded annually to CIM members who have made a significant contribution to the field of mineral economics in Canada.

Dr. Robert B. Elver proposed to CIM Council in 1974 that a committee in mineral economics should be formed. An award in mineral economics was established in his memory following his untimely death in July, 1979. The first award was presented in 1981.

Keith Buck 1981 Hugh Taylor 1982 Brian Mackenzie 1983 Herbert D. Dreschler 1984 J. Philip Prince 1985 Donald J. Worth, W. Barbour 1986 Donn Morgan 1987 - 1988 [1] Gerhard Anders 1989 Alistair J. Sinclair 1990 Noel A Cleland 1991 Edward M. Yates 1992 Gerald DeSorcy 1993 Patrick Mars 1994	David E. Harquail 1995 Bernie J. Haystead, John T. Postle 1996 Graham Farquharson 1997 Graham Farquharson 1998 [2] George Espley 1999 Michael Chender 2000 John J. Drury 2001 Michael Doggett 2002 Lawrence D. Smith 2003 Maureen Jensen 2004 Ian S. Thompson 2005 Jane Spooner 2006 David D. Davidson 2007 Keith Brewer 2008	Keith Spence and William Roscoe 2009 Karl Harries 2010 Pierre Lassonde 2011 Deborah McCombe 2012 Michael Samis 2013 John R. Ing 2014 Lionel Kilburn 2015 William McNeil 2016 Gordon Bogden 2017 Simon Houlding 2018 Terence Ortslan 2019 Reno Pressacco 2020 Patricia Mohr 2021 Michael Bourassa 2022

[1] No available information for 1988

[2] Graham Farquharson was awarded both in 1997 (a 'regular' award) and in 1998 following his role in the uncovering of the Bre-X fraud.

Publications

MES has sponsored the publication of:

• "Selected Readings in Mineral Economics" was edited by mineral economist, F.J. Anderson, was sponsored by MES and published on behalf of CIM by Pergamon Press in 1987.
• "Mineral Property Valuation Proceedings. Papers Presented at Mining Millennium 2000", published by CIM, 2000.
• CIM Special Volume 55, "Mineral Agreements and Royalties", by Karl J.C. Harries, QC, co-sponsored with CIM. Arising from the 2003 Mineral Economics Symposium, "Mining Agreements: Deal Makers and Deal Breakers". (Also available in CD-ROM format.)
• CIM Special Volume 56, "Mineral Resources/Reserves and Valuation Standards", 2010.

References

• CIM Bulletin

External links

• MES Official website

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