Global refined copper surplus swells in first half of 2024 — report
New data from the ICSG indicated a preliminary surplus of about 488,000 tonnes, which is significantly higher than the 115,000 tonnes for H1 2023.
Europe’s leading mining conference and exhibition kicked off in London this Monday, with about 7% of the conference’s keynote speakers and panelists being women, and only one of them a member of a visible minority. Sounds about right, as this meagre percentage accurately reflects women’s still dismal representation in the international mining arena, but more importantly, on the corporate boards of these mining companies.
“It is quite regrettable that despite years of high-profile pressure to bolster the numbers of women in the mining industry, women are still not represented fairly at mining events but much more significant than that, women continue to fill less than 10% of seats on the boards of mining and energy companies at this conference,” says Barbara Dischinger, Founder and Director of International Women in Mining Community, based in London.
“As all research indicates, the mining industry has fewer women on boards than any other major industry. In the world’s top 500 listed mining companies, just 7% of all directorships are held by women. It’s about time for some REAL change!”
To bring about this change — and along the way challenge the “good ole” stereotypes that there are just not enough women available to sit on boards, or that they lack either executive or technical/engineering expertise, Ms. Dischinger and International Women in Mining Community, which has almost 9,000 members worldwide, have just launched an international Women on Boards Project. Its goals are to:
“Whether it is at Mines and Money, or at the head of a company or in the board room, women are as committed to the mining profession as men are. They also bring real talent and expertise that should not be overlooked.”
9 Comments
Suzanne Soto
With Ontario soon to require more appointments of women to boards, Ms. Dischinger’s call is certainly timely. http://www.winnipegfreepress.com/business/ontario-changes-securities-rules-to-help-get-more-women-on-corporate-boards-284514531.html
boards for the experienced
Experience in the business is a pretty good idea before expecting to join a board. I’m more in favour of building foundations first then moving upwards….. I’m not a fan of people (man or woman) advocating to be jettisoned into the top level without developing a fundamental understanding of the industry first. Distorting the passage way to the top by making it easier for particular people flies in the face of competition breeding the best people ready to take on the top level. At the end of the day, it’s the shareholders that will suffer or benefit, and it is their company.
Robert_S_Stewart
Most Mining company CEO’s and Board Members start at the bottom of a mine and work their way to the top. Ask Megan Clark at Rio Tinto. She didn’t get there because a law suggested women ought to sit on a Board. She worked her way up through a myriad of extremely tough jobs in science (CSIRO) and mining (BHP) to help run the world’s second largest mining company.
That is how it is done.
When you qualify to run a giant global corporation, you get to enjoy working in the world’s toughest, riskiest and most dangerous industry. The rewards come from knowledge, experience, skill and determination to lead.
She’s not just a pretty face. A woman with no serious underground, open pit or alluvial experience made a run at running another of the top five miners, and was gone before anyone remembered what she could contribute, not much. When the girls learn how to operate a slushing machine, mucking machine, be a skip tender, powder monkey, drive a Krupp wheel, Terex truck, a D9 or drive a train, they’ll start to qualify for these jobs. They’ll also have to cut deals with African and Asian Presidents, international banks, rows of investors and clients who buy their products.
That’s how we got there.
Deb
With all due respect Robert, engineers are not the only profession to sit on the boards of mining and exploration companies. Others such as accountants, lawyers, marketing strategists and geologists also sit on these boards. There are many many switched on smart women in the accounting and legal profession that work in mining and many more that do a lot of the running of the companies behind the scenes.
Many women also do work their way up as engineers and hit glass ceilings as a result of an “old boys club” which restricts them from moving into the power positions. This is despite going through the myriad of tough jobs associated with engineering, mining and exploration.
In my first year of geology at university i had a professor who told me that i shouldn’t be there taking the place of a male who would make a career of geology. Since then i have made a very successful career of geology in as you put it “the world’s toughest, riskiest and most dangerous industry”. I can assure you that i have done the “hard slog” throughout that time.
Deb
and that is how it is done!
Sed
I’m in total agreement with Deb. Robert I think you missed the point just a little – there is no push for non-qualified women to suddenly be jettisoned to the top. That would be ludicrous. The fourth dot-point in the article states “highly-qualified women.”
Glass ceilings and “old boys clubs” are alive and well! I’ve spent 20 years working up from the bottom, including remote operational roles in several countries and have “hands on” experience facilitating land access, dealing with community discontent (expressed via an angry mob with machetes) and managing extremely remote exploration programs in tough logistical and climatic conditions.
I worked my way up to an exec position in a mining company but am still pushing against the boys club way of doing things. And given the way a lot of mining companies are going these days maybe it’s time for new blood? Perhaps more diversity in senior management and boards will allow companies to ride out these tough times a little easier rather than rely on the reactive, knee-jerk management style of old?
sailormac
It has been over 40 years since the revolution. During that time there were quotas instituted, real and defacto. Today’s woman entering the work force is actually the third generation since the ’60s and ’70s. Perhaps the gender balance we see today is the natural order of things.
Before the howls of outrage begin, may I offer that if women really wanted to be on mining boards, wouldn’t most of the mining board of director positions be occupied by women?
RockHopper
I started in exploration and at mines as the 1% in 1975. One percent of my graduating class were women and I am the only one left from that class working in my field. One of the important aspects that is not mentioned is mentoring. I have been mentored by some remarkable men who have seen the potential and have given me the opportunity. Did I work harder than some of the men? Yes! But I have to say that mediocre is mediocre, gender is not a factor.
In turn, I am a willing mentor for bright and talented women and men. I do not care how they are “plumbed”. The mining industry has changed so that the long-beards and white hairs are simply not available to provide the insights and training to the new graduates. During some of the many downturns in the industry, professionals left the profession to go into environmental, government, academia, other industries, etc. Major companies that had been responsible for training up the mining leaders of tomorrow turned over that function to the juniors. Acquisition or hiring consultants was preferred over in-house exploration and development teams.
We can all name companies who were the leaders in new discoveries who haven’t found anything on their own for years (even decades). The accountants and lawyers that were in management positions simply did not see the value of keeping expensive mining professionals on staff.
Societies such as SME and CIM help to educate young professionals and companies like InfoMine (EduMine) now provide additional training that companies once were known for.
I have rambled enough, but in reality, young, sharp, capable professionals are few and far between. No one wants to put in the time – 6 months in the field or living in rough conditions, long hours at work, etc. It is rare to find someone even willing to put in more than 40 hours a week, let alone the “inconvenience” of working in mining. Women (and men) find it easier to work for the government, environmental field or academia, which does not prepare them to sit on boards. It is clear that we have a problem that cannot be legislated away. I know women that would be excellent candidates for boards, but honestly, they are not interested in the game and time involved to get to the top. Balance and quality of life are bigger factors when deciding to be a part of the upper crust.
In closing, I love the mining industry and the opportunities that I have had and still pursue today. My success is a result of hard work and taking advantage of those opportunities. There are a lot of women out there that are prepared for the job and it will take people like me and others experienced in mining to encourage them to reach for it.
Ana María Aranibar
Me parece que hay varios factores que impiden el acceso normal de las mujeres en minería, en Latinoamerica prima la cultura del macho dentro la mina, situación que impedía que muchas mujeres mas estén ocupando cargos en grandes compañias.
Las mujeres han cubierto un rol de trabajo en la minería artesanal,para ello hay espacios, pagando poco y viviendo en pobreza, pero si una mujer asciende a un cargo ejecutivo aflora el temor de los Clubs de Viejos Mineros que a la hora de decidir dejan por fuera a las mujeres. Esto va a cambiar, porque las mujeres se han ido posicionando cada día mas, sin embargo es cierto que sus espacios deben ser luchados por ellas .Tienen que darse cambios.