2015 Annual Report - CMIC€¦ · CMIC Annual Report 2015 5 5. Hire 2 PM’s (full or PT) – CMIC...

2015 Annual Report

CMIC Annual Report 2015 www.cmic-ccim.org 2

Table of Contents Table of Contents 2

Corporate Strategy 3

Strategy 3

Report Against the Plan 4

Message from the Chair 6

Message from the Executive Director & CEO 8

2015 At a Glance 10

Governance 10

Government Outreach 10

Events 10

Technical Groups 11

Exploration 11

Underground Mining 12

Energy/Processing 13

Environment 14

Challenges 17

Financials 17

Members 18


Corporate Strategy The Canada Mining Innovation Council (CMIC) is a non-profit corporation that completed the transition in 2015 to the new Canadian Not-for-Profit Corporations Act. CMIC was created in 2009 at the request of the industry, government and academia to address large scale and common challenges of the industry and also to de-fragment the industry and the network of organizations that provide support to the mining industry.

CMIC’s Role: • define the industry wide pre-competitive challenges at a national level and chart

courses to solutions. • foster collaborations between centres, leveraging existing expertise and funding

to arrive at solutions faster and more cost effectively. • break down the barriers to collaboration by focusing on those challenges that are

common to all commodity driven companies. • focus on 10-20 year horizons while providing incremental value on an annual

basis. • communicate the importance of, create awareness and generate interest in

innovation in mining to governments.

Strategy CMIC’s mantra of “Fundamentally Transform Mining” requires that we tackle many pre-conceived notions and approaches to innovation as a whole. In summary CMIC:

• Focusses on grand challenges of the industry that require a consortia approach ensuring a market pull

• Employs open innovation to significantly reduce risk by avoiding duplication, sharing cost and developing solutions faster

• Works across the entire supply chain within and outside of mining • Is creating the worlds first open innovation business ecosystem to harness

innovation and leverage assets, knowledge and technology globally The typical approach to innovation takes a very linear approach from research to applied research to technology development and demonstration to commercialization (ie market uptake). In a business like mining that is slow to adopt technology, and where the challenges are not likely to be overcome in a traditional linear technology development/transfer model has proven to be challenging. CMIC is employing an open innovation and technology leapfrogging approach to ensure rapid development and deployment of solutions. Here we are looking for technologies already commercialized or nearly commercialized within or outside of the mining market, and paring them to industry problems and relevant stakeholders. Our focus is on either changing the existing technology platforms or creating new technology platforms where they do not yet exist.


Report Against the Plan 1. Create consistent and compelling value proposition for potential members In 2015 CMIC expended considerable time and effort developing a compelling business case for an inaugural innovation strategy, Towards Zero Waste Mining™. This strategy was compiled through the donated services of Deloitte and involved over 17 senior executives from across the mining industry, focussing on common grand challenges that will result in significant returns to the business. Using consolidated financial statements, CMIC determined that if we meet 50% of our established targets identified in Towards Zero Waste Mining™, the average savings would be $154 million per company per annum. 2. Identify target list of new potential members annually - in 2015 CMIC acquired six new corporate members all of whom are interacting with one or more of the technology groups, namely:

• Hecla • Sandvik • Alloycorp • Glencore • Torex • BearingPoint

We continue to identify new corporate members and are specifically concentrating on suppliers. 3. Finalize technical “roadmaps” - technology roadmaps were completed for exploration, underground mining and environment. A roadmap for energy was also finalized and we are working on a combined energy-processing roadmap. Further, we held the first working group integration workshop to identify potential synergies between the four technology groups. Data was identified as a key common element with a virtual mine as a potential integrating project. 4. Identify project/program models - we have identified and are using six different project models. These models and the technology groups where they are deployed are as follows:

• CMIC managed research consortia (Exploration) • Project integration/coordination – this clusters existing new mining projects, adds

potential new project elements and accounts for multi-million investments being made by companies (Underground Mining)

• Technology Demonstration (Energy/Processing) • CMIC Directed, Partner Delivered – typically initial stages of a project

(Environment, Energy/Processing) • CMIC instigated with “Ecosystem” Participation – these are either very difficult

technical challenges that have broad applicability and interest or where there are significant groups working on elements that yet need to be stimulated to move in the right direction (Energy/Processing, Environment)


5. Hire 2 PM’s (full or PT) – CMIC engaged the services of Dr. Sam Marcuson, former executive from Vale in Q1 2015 to re-build a combined energy and processing group. This hiring provided a complement of four portfolio managers in CMIC to cover each technology group. Efforts to second individuals from federal government organizations were not successful. 6. Continue outreach into innovation based federal government departments to increase recognition and funding base – once again, CMIC provided a submission to the federal budget consultation process requesting for $18 million over five years. A government relations firm was hired on an add needed basis to assist with introductions and meetings with politicians. During 2015 we managed to reach as high as the Prime Ministers’ Office prior to the federal election. In Q2 of 2015 we were discussing a $50-$100 million mining innovation fund through a parliamentary budget request. Government departments and others further suggested that NSERC and existing funding agencies may not be the correct vehicle for CMIC projects.


Message from the Chair Our lives in this first quarter of the 21st century have been marked by unprecedented change through exponential organizations, where innovation and disruptive transformation have become the norm. The likes of Google, Uber and Tesla are testing new limits and shaping our future. Manufacturing has responded to these challenges effectively delivering the infrastructure and products required by these transformations. However, mining, which fulfills a crucial role in this value chain by

supplying the raw materials, faces challenges in understanding and evolving in this new economy of exponential growth. The ready availability of investment capital in past years further slowed this evolution by masking some hard realities in the mining industry such as declining margins, low productivity, rising costs (energy, labour, materials and equipment), low capital intensities, and declining support for research & development, innovation and growing engagement imperatives for sustainability and community. As commodity prices collapsed in recent years and investment capital dried up, the inefficiencies in the mining industry have been amplified. Large reductions in operating and overhead costs have brought some desired efficiencies. However, as these efficiencies reach their limitations, the need for step changes and disruptive transformations through innovation and partnerships is becoming even more evident. The Canada Mining Innovation Council has never been more important, as it attempts to unify a fragmented mining technology landscape in this wonderful country of ours, create innovation roadmaps in the mining value chain, foster an innovation culture among industry executives, and call on elected officials to support an innovation platform. The organization’s end goal is a powerful innovation ecosystem that helps the mining industry successfully navigate these roadmaps. Since inception in fall 2007, the Canada Mining Innovation Council was a volunteer organization with minimal infrastructure and few paid employees. With this lean structure, the CMIC still managed to organize the largest collaborative project funded by NSERC, the Footprints Exploration program of $13M involving 24 universities and 34 companies ranging from majors to small technology providers. We take pride in successes across the country, such as the Canada’s Oil Sands Innovation Alliance in Alberta and the International Mineral Innovation Institute in Saskatchewan, both of which received support from the Canada Mining Innovation Council. Both of these groups are experiencing rapid growth and success. Under the spirited leadership of our Executive Director and CEO, Carl Weatherell, and his dedicated team (Alan Galley, Bernadette Lambros), the Council has created a modern infrastructure and fostered innovation roadmaps in underground mining, processing/energy and environment through industry-led and operated Technical


Groups. Carl solicited expert industry executives to lead and work in these Technology Groups.

Our priorities during my two-year term as Chair have been threefold:

Governance: Aiming to create a highly respected, transparent, flexible and well-managed organization. We now have a smaller Board of Directors (12) with high-quality professionals from a wide spectrum of the Canadian innovation ecosystem. I strongly encourage you take the time to meet and get to know them. We have introduced a novel Executive Committee where the Canada Mining Innovation Council Chair and CEO are joined by the Chairs of strategic Council committees, including the Communications, Financial, Governance and Strategy & Innovation Committees. We now have approved policies such as a Code of Conduct, Financial Controls and Procedures, Conflict of Interest, Privacy and Intellectual Property.

Industry-led Innovation Roadmaps and Ecosystems: Providing vision and leadership to our mining world. Following the success of the Footprints Exploration Program, we have advanced successfully the roadmaps on underground mining, processing/energy and the environment. We now systematically create the ecosystems to support and deliver these roadmaps. We have engaged innovation providers and agents of change from the wider industry through workshops, participation in roadmaps and projects and by inviting them to become Council members.

Strategic Partnerships. Our efforts have focused on bringing together industry executives to discuss the value of innovation to the future of our industry and forming a strong alliance in support of the Council’s innovation agenda. The first industry alliance is now in place under the banner of the “Towards Zero Waste Mining” with the participation of Agnico Eagle, Barrick Gold, Goldcorp, Iamgold, Newgold and Hatch. We engaged extensively with government officials, discussing the importance of innovation in mining, the environment and communities, focusing on real industry needs, supporting a new breed of innovative companies and establishing strong relationships. We greatly value our partnerships with the Mining Association of Canada, Natural Resources Canada and the Canadian Association of Mining Equipment and Services for Export Canadian, as well as our cooperation with technology organizations.

I am coming to the end of my term as Chair, and I am grateful and thankful to you, my peers, for entrusting me in this important role. Over the last six years, I have benefitted enormously from the interaction with a group of extraordinary people, each of you sharing a common vision. I am now more passionate than ever about this innovation vision and the path forward that the Canada Mining Innovation Council is forging.

I wish our new Chair, Jean Robitaille, and everybody involved with the Council and our vital industry, transformational success in the coming years.

Peter Kondos, Chair CMIC 2014-16 May 2016


Message from the Executive Director & CEO The world around us is in a constant state of acceleration, in many respects as a result of the plethora of innovations allowing instant access to information, technology and people. In this rather chaotic environment, it is easy to get distracted and in some respects, lost. This is particularly true when one speaks about innovation in an industry like mining where technology adoption is estimated by some to be decades behind other industries.

At an event where I was presenting on business ecosystems a very senior, and well respected individual asked why we couldn’t just test and play with technology. Testing and playing is fine, but when we are looking at a continuous production environment in a high risk business like mining, we need more. We need a plan, we need a clear business case and we need to link the shorter term “playing” with the longer term strategy and payoff. Most of all, we need focus.

2015 was a year of intense focus for CMIC.

Our mantra of Fundamentally Transforming Mining cannot be accomplished if we do not concentrate on addressing the needs of industry and ensuring mining companies are not only on board but in control of the destiny of their companies and their industry. Complete ownership of the process, projects and results are critical. Our move to re-build most of our technology groups with a focus on senior operating mining company personnel paid off. This was no easy task as we risked our credibility with members from other types of organizations, many of whom questioned our decision and rationale.

We met with many executives in the mining industry and with them and our partners, created the business case for Towards Zero Waste Mining™. This business case provides an innovation strategy for the mining industry and a rationale for much of CMIC’s work with mining companies, suppliers and government. Towards Zero Waste Mining™ establishes incredibly ambitious goals that set the course for fundamentally transforming the mining industry.

The change in Canada’s government, while requiring new relationships and in many respects education of new political leaders, heralds an amazing opportunity for the mining industry. Indications thus far are exceptionally positive and we look forward to strengthening our ties with the government of Canada and especially Natural Resources Canada.

Our technical groups remain focused, creating technology roadmaps - a first for the mining industry globally - launching new projects with partner organizations and defining additional projects to be launched.


CMIC’s innovation efforts are modelled after those in other industries such as software engineering, hardware engineering, aerospace and defense and even pharmaceuticals. Each of these industries, and others, have enjoyed significant success and innovation adoption by focusing on developing technology platforms versus one-off solutions. In the mining industry, our technology platforms (e.g. drill and blast, grinding) have not changed in decades. True innovation and industry transformation will happen only if we relentlessly pursue the replacement of these outdated and industry choking technology platforms.

CMIC is garnering significant amounts of attention from organizations globally that I believe is a result of our collective and unwavering efforts.

2015 was an exceptionally busy and rewarding year made possible by the enormous amounts of time, effort and thought leadership provided by our volunteers from the technical groups to the Board of Directors. The dedication and passion of these volunteers is truly humbling.

Carl Weatherell May 2016


2015 At a Glance Governance CMIC finalized the process to become fully compliant with the new federal non-profit corporation legislation (NFPC Act). We have developed and implemented a competency matrix designed for a national mining innovation organization as a tool to identify and recruit the appropriate individuals to the CMIC Board of Directors. We continue to attract strong leadership to the CMIC Board of Directors providing necessary expertise from junior, mid-tier and senior mining companies, engineering and consulting firms, finance and audit, non-profit, governance and non-profit growth strategies. As part of our evolution we have also created standing committees of the Board to engage each Director in the strategy and operation of CMIC. The Board and its committees continue to develop and review operational policies to ensure the appropriate level of management and control of the corporation while maintaining agility and flexibility of a small yet innovative corporation.

Government Outreach In 2015 CMIC again made significant progress connecting to federal government departments and raising the profile of mining and the importance of mining innovation to Canada. Over the course of the past twelve (12) months, the CMIC Executive Director & CEO attended nineteen (19) meetings with Ministers, Chiefs of Staff or senior staff from Minister’s offices and senior bureaucratic staff in a number of federal government departments and high profile Members of Parliament (MP’s) occupying positions on the Natural Resources and Finance Parliamentary Committees. The Executive Director & CEO was a key speaker at the 2015 Energy Mines & Ministers Conference in Halifax.

Events In 2015 CMIC hosted six (6) workshops in the Exploration and Environment groups, two (2) workshops in the Underground Mining group and a workshop in theEnergy/Processing Group in partnership with the Coalition for Eco-EfficientComminution (CEEC) from Australia. CMIC also partnered with CAMESE (CanadianAssociation of Mining Equipment and Services for Export) for an inaugural event heldNovember 2015. The intent of the event was to work on changing the relationshipbetween suppliers and mining companies from the current transactional state to a moreco-development relationship.

CMIC staff and members of CMIC technical groups presented or represented CMIC at two (2) international conferences. The Executive Director & CEO, was an invited keynote speaker and/or a panelist at seven (7) venues including Technology and Innovation in Mining conference, l’Association minière du Québec, Canadian Water Network, BC Energy Managers, and a McEwen Mining Innovation Lunch & Learn. Business Network News also interviewed Carl on innovation in the mining industry.


Technical Groups Exploration The NSERC-CMIC Footprints Project The Footprints project has now entered the fourth year of the 5-year project, and the emphasis has shifted significantly from data generation to forward and inversion modeling. The modelling process has three components: database management; development of a common earth modelling space; and statistical integration of the multi-parameter database (machine learning).

The data collected during the project, and non-confidential data contributed by the site sponsor companies will be entered into a relational database system for consistent modelling and permanent storage. The purpose of using common earth models (CEM) is to develop an internally consistent modelling space in which various types of data sets can be visualized for the three project sites (Figure 1). Within this modelling space an iterative series of forward and inversion models are developed with the purpose of first defining a 3D representation of the geological environment, and secondly to recognize the expression of the hydrothermal system, and then integrate its various parameters to define new 3D exploration indices.

Figure 1. An example of the preliminary common earth model for the Highland Valley Copper Footprints research site. Developed by Mira Geoscience Ltd. with the Footprints copper research team.

One of the Footprints project objectives is to develop better protocols for constrained joint inversion by developing methods to integrate geochemical, hyperspectral, and mineral chemical data into the inversion modelling process. This can be done by developing rock property proxies from these other data sets. This would vastly expand the data available to the exploration industry to constrain their 3D models, and be bale to model not only geology but the hydrothermal systems that host potential economic mineral deposits.

Statistical analysis and machine learning are being tested to fully integrate the various data sets acquired during the project. The Data Integration group has chosen a number


of constrained and non-constrained statistical pathways towards the integration of some quite disparate types of data (Figure 2). Most of the methods are based on forms of cluster analysis, but include varying degrees of constraint with respect to known ore system identification criteria. Some, such as Hypercube, has never been applied to geoscience-based data before. The hope is that certain unconstrained approaches will reveal aspects of data combination not previously considered in mineral exploration space.

Figure 2. Examples of the statistical methods being pursued for developing protocols for mineral exploration data integration (from Leo Feltrin, Footprints Data Integration team leader).

The results of the statistical experimentation will then be forward modeling in the CEM space to determine whether the results are consistent and compatible with realistic ore system scenarios. The remaining two years of the project will therefore be focused on identifying the character and extent of the three ore system hydrothermal footprints within the context of their 3D geological environments.

Next generation project planning One of the major challenges still remaining for the mineral exploration community is the detection of hidden mineral deposits below the extension surficial cover present in many geological terranes. CMIC Exploration is therefore in the process of canvassing the mineral industry to gauge the interest in pursuing a project for a better understanding of the migration of indicator elements and minerals in secondary environments, and then to have the CMIC industry partners identify the knowledge gaps needed to be filled by such a project. If the interest is developed, the objective is to have a successor to the Footprints project ready for launch by the spring of 2018. The process has already begun for discussion with CMIC industry partners and the cadre of research experts within the various geoscience and technical fields needed to tackle such as complex problem.

Underground Mining CMIC conducted two (2) workshops with executives from across the mining industry and a select group of suppliers using a technology road mapping process show below.


The intent was to create a technology roadmap that sets the course towards moving the underground flow sheet, or platform, from drill and blast to continuous underground mining under the theme, “Creating Canada’s Next Generation Underground Mining Operations”. A simplified version of the technology roadmap comprising the themes identified by the mining industry is illustrated below.

Two reports were released to CMIC members in 2015 summarizing the results of each workshop and the process going forward.

In 2016 additional workshops will be held to define projects in areas including: continuous operations and real-time management and control of underground operations. We expect to launch the first underground mining project in Q3-4 of 2016.

Energy/Processing The CMIC Energy and Processing groups each identified energy in comminution and low grade energy recovery as areas of future focus for projects. Accordingly, CMIC combined the groups under the leadership of Dr. Sam Marcuson, a former Vice-President from Vale. During 2015 this group initiated three (3) projects including:

• A technology appraisal study with Hatch to identify technologies that heldpromise for significant energy savings that are not currently in use by theindustry. A draft report was released and a potential technology was identified.

• CANMETMining provided the resources to conduct energy flow measurementson three (3) separate grinding circuits to identify where energy losses occur andto develop an energy model. Metso also provided significant support, data and


intellectual property to the project. The final report will be released in 2016 with a peer reviewed presentation at the International Mineral Processors Conference (IMPC 2016).

• A fourth year design group from the Department of Mechanical Engineering atthe University of Waterloo accepted the challenge to identify approaches for lowgrade energy capture from ventilation exhaust.

The World Intellectual Property Organization (WIPO) approached CMIC to conduct an in-depth global search for existing intellectual property that may be leveraged to address low grade waste heat recovery challenges in mining. CMIC submitted two (2) processes where significant low grade waste heat is evident and are expecting initial results in 2016.

Environment The Environmental Stewardship Initiative (ESI) achieved continued success in 2015. The group achieved several major milestones in relation to its project development work and its membership base continued to grow. New committee members include Agnico Eagle, Imperial Metals, Teck Resources, and Stratos Consulting.

In 2015, three major milestones were achieved when CMIC members were provided with feasibility studies for three projects. The studies were completed to facilitate the launch of the projects by developing project plans and determining the requirements for project funding, resources, and partnerships. Building on the success of this process, we are pleased to report that the Environment group successfully delivered on its plans to launch its first project.

National database / repository of water quality data for the mining industry This project focused on an initiative to compile, centralize, and disseminate key water quality data collected by companies operating and developing mines across Canada. By doing so, CMIC aims to fundamentally transform the way we – as an industry – collectively think and go about managing environmental data in an increasingly data-driven world.

Key goals of the project include: • Preserving historical water quality data over time• Reducing duplication of sampling effort, especially in the context of proximal

mining projects• Improving water management strategies through more relevant permits and

easier compliance• Strengthening social license through increased transparency


The feasibility study identified that the main requirement for project implementation was a partnership with a data management and data presentation organization. As such, throughout the second half of 2015, a working agreement was signed with Geoscience BC – an innovative, publically-funded geoscience data organization in British Columbia – to develop the first phase of the project, namely a pilot initiative in British Columbia. The agreement takes effect in January 2016 and will be implemented over the course of one year. This enables CMIC to test the project concept in a major mining jurisdiction before roll-out nationally.

A working prototype with baseline water quality datasets was operating in Q3 2015, a screen shot of the Hub prototype is below.

Remote, real-time sensors for water quality monitoring This study focused on the development of a remote, real-time sensor package that will help transform the way water quality is monitored. Crucially, this includes lessening the reliance on traditional “grab sampling”, which involves deploying field personnel to the field to physically collect samples. With greater remote and real-time capabilities, environmental practitioners will be able to achieve a significantly greater temporal understanding of water quality, as compared with the “snapshot” that grab sampling provides. In addition, the transport and sampling errors that are associated with grab sampling can be reduced, as can the associated safety and health risks.


Key components of the study focused on defining technology specifications for an “ideal sensor package”, which, in turn, will help enable technology and solutions providers to design and develop technology that meets mining industry requirements. Technology readiness levels (TRLs) were assigned to existing technologies (lab, field, and commercial) to help determine priority technologies for potential future development.

Currently, this project is shovel-ready and will be pursued subject to funding being secured.

Standardized, performance-based framework for mine closure criteria and relinquishment Currently, the mine closure process is highly inconsistent within and across jurisdictions. Striking inconsistencies also exist within individual companies. In addition, there are few “endgames” related to closure, which typically leads to the closure process being managed “in perpetuity”.

This project aims to develop a consistent closure framework that can be applied across Canada that will, ultimately, enable mining companies to transfer mine sites into provincial custody. This would enhance efficiency and provide certainty for all stakeholders in the mine closure process, all while preventing the accrual of abandoned and orphaned mines to the Crown. Crucially, the framework and associated criteria will also help drive continual improvement in technologies and management approaches related to closure, thereby improving environmental management and the associated environmental outcomes.

The associated feasibility study focused on the extensive stakeholder engagement that would be required for project implementation. Project plans were developed, including a project budget and project schedule. With the completion of these components, the project is ready for implementation subject to funding becoming available.

Throughout 2015, a total of seven presentations related to the Environment group’s work were featured in four major international conferences (CIM 2015, Mine Closure 2015, SME Annual Conference and Expo, and Water Management Excellence in Mining and Oil Sands). In addition, two peer-reviewed papers were featured in international mining publications (Mine Closure 2015 Proceedings and Mining Engineering Magazine). A total of four project workshops were held in conjunction with our industry and partner organizations, including Barrick Gold, Hatch, and Geoscience BC.

In 2016, the Environment group will transition to its next phase of work, which will include the development of the next phases of the current Environment projects, the continued development of technology roadmaps, and defining future Environment initiatives as part of Towards Zero Waste in Mining™.

On behalf of our membership, CMIC would like to acknowledge the efforts of Dr. Mark Thorpe (VP Corporate Responsibility, Torex Gold) as Chair of the Environment group


over the past four years. Dr. Thorpe’s visionary leadership has been truly inspiring and we are exceptionally grateful for his dedication to CMIC and the advancement of innovation in the mining business. In 2016, we look forward to working with our new Environment Chair – Dr. Michel Julien (VP Environment, Agnico Eagle) – to build on the continued success of the group.

Challenges CMIC continues to face challenges related to resources, the launch of new projects and collaboration, the three of which are interconnected. We have seen a significant increase in demands on our resources from other organizations looking for assistance on innovation, strategy or simply advice on mining innovation in general. This is a very positive sign that we are indeed becoming the recognized focal point for mining innovation in Canada.

Of course, this places another burden on our already meagre resources especially considering the intent of the organization to create a paradigm shift in the minerals industry and the tasks we must undertake to achieve that objective. Our agreement with Natural Resources Canada, that included both resources and funding, expired in the Q1 2015. Sources of funding are also limited for organizations such as ours. We continue to work on creating partnerships with other organizations to help deliver on our mission.

We have been fortunate to have organizations such as Hatch, Deloitte and CANMETMining providing in-kind services directly related to the CMIC projects totalling approximately $700,000 in the areas of energy and processing, environment and the Towards Zero Waste Mining™ innovation strategy.

Financials CMIC’s fiscal year ends December 31, 2015. From inception, Schwartz Levitsky Feldman provided audit services to CMIC. With a head office firmly located in Ottawa, the Board of Directors felt it necessary to seek auditors that are closer to the CMIC head office in Ottawa, Ontario Canada. After considering proposals from three organizations, the CMIC Finance Committee selected Andrews & Company based in Ottawa.

The 2015 fiscal year was a year of focus and delivery to industry partners for CMIC. Accordingly, we were required to draw from our reserves and realized a net deficit of $418,100. Additionally, we revised the financial controls and procedures policy to explicitly account for revenue recognition. As a result, recognition of revenue was also applied to the 2014 financial statements.

A summary of the last three (3) years of our audited financial statements is presented below. Final audited statements are available on our web site.


2015 2014 2013

Revenues $1,231,236 $1,429,735 $1,096,172

Expenses $1,650,336 $1,633,581 $1,129,921

Excess of revenue over expenditures ($418,100) ($203,846) ($33,749)

Members During the past 24 months, we have focussed on attracting additional mining companies and suppliers to CMIC. CMIC ended 2015 with a total of 67 paying members, a slight decrease from 2014 of 2 organizations. Although we gained additional operating mining companies and non-operating companies as members including Hecla, New Gold, Glencore and Torex, we also lost Osisko, GoldenStar Resources, New Millenium and Adriana Resources.

Figure 3: Memberships by type of organization from 2009 to 2015

$-

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2009 2010 2011 2012 2013 2014 2015

Operating Mining Companies

Non-operating Mining Companies

Service Providers

Research Centres

Government

Associations

Academia

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