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GREEN PROCESSING 2006 Sustainability of
the Minerals Sector in Australia
5-6 June 2006 Newcastle NSW Australia
Don Larkin CEO, The AusIMM
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MY PROPOSITION

• If we dont-
• Encourage more Exploration in Australia
• Fund our Universities and Research Centres
  Appropriately
• Manage our Human Resources Better
• The Sustainability of the Minerals Sector in
  Australia is at Risk.

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DOUBLE EDGED SWORD

• Buoyant Sector Contributing to the Economy
• Global Companies with Global Options
• Governments Elected on Short Term Cycles
  Competing with Guided Democracies.

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ENCOURAGE MORE EXPLORATION

• Australias Relative Position Declining
• Government Attitude, Budget and Initiatives
• MEAA
• Access to Finance
• Access to Data
• Access to Human Capital
• Access to Land
• Too Little, Too Late.

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CONCERNS EXPRESSED

• AusIMM MacBank Survey 2006, Skills and
  Exploration
• MCA and PWC Survey Report, 2005 Exploration
  RD
• Fraser Institute Policy Potential/Mineral
  Potential
• Metal Economics Group Exploration Budgets 2005
• ABARE Warnings Development Projects - 2006

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FUND UNIVERSITIES AND RESEARCH CENTRES
APPROPRIATELY

• Minerals Sector - High Tech, High Value Added,
  Geographically Diverse, Not
  Homogeneous
• - Low Demand, Knowledge Based
• - Value Added (Uranium)
• Government Attitude
• - Discipline Areas of National Importance
• - Double Edged Sword/User Pays
• Increasing Prospectivity
• - New Mineral Deposits
• - Processing Uneconomic Resources
• - Increasing Efficiency Reducing Costs
• Funding for Minerals Related Courses (Cluster 10)

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MANAGE OUR HUMAN RESOURCES BETTER

• 1992 Rio Summit Sustainable Development Human
  Capital
• Managing the Cyclical Peaks and Troughs
• Promoting Awareness and Career Opportunities
• Greater Presence on Campus
• Our Demographic Destiny and Mission Critical
  Employees
• Or is Human Capital Just another Commodity?

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AESOPS FABLE

• Has the Canadian Ant Overshot the Australian
  Grasshopper?
• The Sustainability of the Minerals Sector in
  Australia.