Delivering solutions to secure Australia’s resources future over the long termThe 10th anniversary AMEC Convention will bring together a wide range of government and industry leaders to investigate ‘Solutions for today. Mines for tomorrow’.The event will be held on July 1 and 2 at Crown Perth and will explore longer-term solutions to secure the future of the mining industry from both a national and international perspective.Prime Minister Tony Abbott will be delivering the offi cial opening via video presentation on the fi rst morning of the convention. Former Premier of Western Australia Hon Richard Court will deliver the Sir Arvi Parbo Oration, the convention keynote address. His

presentation will explore what we can learn from the last boom and preparing for the next cycle.The convention will also discuss the impact of global economies on the Australian resources sector.Dr Geoff Raby will be examining the opportunities for the Australian resources industry which could fl ow from China’s current reform agenda.Treasury Secretary Dr Martin Parkinson will open the second morning, addressing the challenges and opportunities for Australia over the next decade.

The two-day event features an exhibition area with a range of small and emerging mining companies, mineral exploration companies and service providers to the industry. Investor presentations will be delivered from companies including Blackham Resources, Doray Minerals, Encounter Resources, Independence Group and Millennium Minerals.This year the convention will feature company success stories, demonstrating the ways in which some companies have overcome challenges and what the industry can learn from them. Companies delivering success stories include Atlas Iron, Roy Hill, Doray Minerals and Sandfi re Resources.

The AMEC Convention will provide valuable networking opportunities including a cocktail function on the fi rst evening on July 1.The AMEC Convention Dinner on July 2 provides additional networking and relationship building opportunities with senior government offi cials and industry stakeholders.The prestigious AMEC Prospector Award, as well as the AMEC Media Awards and the AMEC Environment Award, will be presented at the convention dinner. For more information about the AMEC Convention 2014 or to register online and purchase dinner tickets, visit www.amecconvention.com.au.

Confi dence in industry’s resilience

There is no doubt the resources industry has been doing the heavy lifting over the last six years, paying in excess of $100 billion in corporate tax and royalties which have supported government revenue streams.While the industry accounts for around two per cent of the Australian workforce, it accounts for more than 10 per cent of Australia’s GDP and has accounted for up to 60 per cent of new investment in the economy.Prime Minister Tony Abbott will be delivering the offi cial opening via video presentation on the fi rst morning of the convention, addressing the integral role of the industry in the Australian economy.Former Premier of Western Australia Hon Richard Court will deliver the Sir Arvi Parbo Oration, the convention’s keynote address. He will investigate the question ‘why are we now facing a national budget crisis after a decade of strong resources

sector growth and massive government revenue streams from the industry?’ “We need to learn some lessons quickly before the next major revenue infl ux from the resources sector arrives,” Mr Court said.“Australians need to be educated to demand strong surpluses from their governments when the resources sector enjoys such strong growth. It is inexcusable to have a nation in debt after experiencing the strongest decade of revenue growth in our nation’s history.”Australia must increase its attractiveness as an investment destination or it could miss out on the next mining boom opportunity to generate essential government revenue streams.“Australia will face increasing competition globally in the supply of both minerals and energy. We will need to maintain our competitive position but at the same time also seek to provide the high value services to those new projects in other countries giving long-term career paths to our engineers and the other resources professionals,” Mr Court said.

Despite these challenges Mr Court said he was confi dent in the resilience of the industry and it was important to not write off the small to mid-cap mining sector in these challenging times.

Exploration Development Incentive Offi cial LaunchThe offi cial launch of the Exploration Development Incentive (EDI) by Minister for Industry Hon Ian Macfarlane will take place at the AMEC Convention.1.10pm Wednesday July 2 Hon Ian Macfarlane, Minister for Industry

Western Australian royalty rate analysisThe Departments of State Development and Mines and Petroleum is undertaking the fi rst signifi cant review of mineral royalties in Western Australia in more than 28 years. The analysis is reviewing the effi cacy of the 10 per cent mine-head benchmark and the three tiered ad valorem royalty rate structure.9.20am Wednesday July 2Michelle Andrews, Deputy Director General, Department of Mines and Petroleum

“It is inexcusable to have a nation in debt after experiencing the strongest decade of revenue growth in our nation’s history” Hon Richard Court

Offi cial Opening

Prime Minister Tony Abbott Video Presentation

Sir Arvi Parbo Oration

Hon Richard Court AO Former Premier of WA

Competitive in a global marketplace

In a global marketplace where capital is extremely mobile, Australia must remain internationally competitive. This requires an in-depth understanding of the global factors that have a direct impact on the industry.The opening morning of the AMEC Convention on July 1 will investigate these international issues and examine the impact on the resources sector.BT Financial Group Chief Economist Dr Chris Caton will address the global economic outlook for the next decade in his presentation ‘Where the world is going...the economic background for the minerals industry’.Investigating the issues facing the United States, Europe, Japan and other regions he will look at the common themes such as ageing

populations and the global fi nancial crisis (GFC) and what to do about them.“The world is continuing to emerge slowly from the aftermath of the GFC,” Dr Caton said.“Australia should lead the way in developed-country growth in the next decade, in part because our ‘ageing problem’ is less than elsewhere.”Dr Caton will look at some solutions for achieving growth and what this may look like in the short to medium term.Geoff Raby and Associates Chairman and CEO Dr Geoff Raby will be examining the opportunities for the Australian resources industry that could fl ow from China’s current reform agenda. China has been a key driver of the minerals resources industry in recent years and Dr Raby will investigate the impact of China on the future of the Australian industry.

Dr Raby is the former Australian Ambassador to China and Deputy Secretary of the Department of Foreign Aff airs. SNL Metals and Mining (formerly IntierraRMG) will present on ‘The state of the global commodities market’.

“Get ready for a higher GST as we continue to address our medium-term fi scal issues” Dr Chris Caton

Where the world is going...the economic background for the minerals Industry

Dr Chris Caton Chief Economist BT Financial Group

Dawning of the Xi era – implications for Australia’s resources industry

Dr Geoff Raby, Chairman and CEO, Geoff Raby and Associates

6 • WEDNESDAY, JUNE 11, 2014 THE WEST AUSTRALIAN

1-2 July 2014, Crown Perth, Western Australiawww.amecconvention.com.au

Driving Board performance: creating balanced and eff ective boardsDiversity on boards is critical to driving business performance. The mining industry lags behind all others in the representation of women on their boards. This session will examine how the mining industry can acknowledge and address the drivers (and barriers) to creating a balanced and eff ective board.11am Wednesday July 2Suzanne Ardagh, Manager - WA and International Division, Australian Institute of Company Directors

AMEC Prospector Award winner in 2013 Mark Bennet for the Nova and Bollinger discoveries in Western Australia

Challenges and opportunities ahead

Treasury Secretary Dr Martin Parkinson will open the second morning, addressing the ‘challenges and opportunities for Australia over the next decade’ and how government and business can ensure the business environment remains conducive to industry development and growth.“In the aftermath of Australia’s largest terms of trade and resources investment boom, the export phase will see fewer workers required and the resources sector contributing less to economic growth,” Dr Parkinson said.The quarterly update released in May from the Bureau of Resources and Energy Economics highlighted a signifi cant shift into the production phase of the commodity investment cycle.“Following signifi cant investment and expansion in the resources sector in recent years we are now seeing a decline in investment and the number of

new and committed projects, which is not keeping pace with completed projects,” AMEC CEO Simon Bennison said.The shift will continue to provide jobs for local communities and government revenue streams, however AMEC is concerned that without a pipeline of new projects generated from new mineral discoveries, the industry and government revenue streams will not be sustained in the long term.

Dr Parkinson said Australia confronted other challenges including the ageing population and weak productivity growth, while it stood to benefi t from the rapid development of the Asia Pacifi c. “To make the most of these developments, we need to keep our economy fl exible and resilient through productivity-enhancing reforms, and to strengthen our fi scal position.”

Opening morning highlights:Hon Tony Abbott, Prime Minister of Australia (video presentation), Hon Richard Court, former Premier of Western Australia Dr Chris Caton, Chief Economist, BT Financial Group Dr Geoff Raby, Chairman and CEO, Geoff Raby & Associates.From 8.30am Tuesday July 1

“We need to keep our economy fl exible and resilient through productivity-enhancing reforms, and to strengthen our fi scal position” Dr Martin Parkinson

Challenges and opportunities for Australia over the next decade

Dr Martin ParkinsonSecretary to the Treasury

Celebrating industry success storiesIn celebrating the 10th anniversary AMEC Convention, a number of success stories will be presented by high-profi le mining companies including Atlas Iron, Roy Hill, Doray Minerals and Sandfi re Resources. In today’s economic climate there are few major mining projects emerging. These companies are a testament to the resilience and hard work of the junior and mid-tier miners. The industry looks to these exemplary projects and strives to emulate their success with new mineral discoveries that can be transformed into world class mines.Doray Minerals Development Manager Mark Cossom will highlight the challenges and successes the company has faced from discovery through to development of Andy Well and future exploration plans by Doray Minerals.Roy Hill General Manager External Aff airs Darryl Hockey said the Roy Hill project had defi ed sceptics to complete signifi cant construction before securing the world’s largest ever debt-fi nancing package for a mining development. “There have been many challenges overcome and opportunities seized on the journey so far, and the target of exporting fi rst ore in September 2015 is now within reach,” Mr Hockey said.

In only its 10th year of operations Atlas Iron has commenced fi ve mines. Atlas Iron Managing Director Ken Brinsden will share his thoughts on the industry, developments in China and his expectations for Pilbara iron ore producers. He will elaborate on policy issues that can continue to unlock the vast resources of the Pilbara and maintain Western Australia’s position as a world-leading supplier of iron ore. Following the convention on July 2, the annual Convention Dinner will be held at the Crown Perth. The evening includes the presentation of the prestigious AMEC Prospector Award, given to the individual/s who made the most outstanding mineral deposit discovery within recent years. The award is made in recognition of the discovery and the indivdiual/s who made the discovery.The AMEC Media Awards and the AMEC Environment Award will also be presented during the evening. ABC National Resources Reporter Babs McHugh will be the MC for the event and former Fremantle Dockers Captain Peter Bell will be the guest speaker for the evening. Tickets to the AMEC Convention dinner on July 2 can be purchased online from the AMEC website at www.amec.org.au.

Convention DinnerThe annual AMEC Convention Dinner includes the presentation of the prestigious AMEC Prospector Award, AMEC Media Awards and the AMEC Environment Award. Former Fremantle Dockers captain Peter Bell will be the guest speaker for the evening.Wednesday July 2 – Crown Perth. Tickets must be purchased separately from www.amec.org.au.

Access to capital critical to industry

The Association of Mining and Exploration Companies (AMEC) has been consistently advocating for policy changes that will make Australia a more desirable place to invest. This includes an Exploration Development Incentive (EDI), announced by the Federal Coalition in its Resources and Energy Policy paper.

The EDI will be offi cially launched by Minister for Industry Hon Ian Macfarlane at the AMEC Convention on July 2. More information and details on the EDI will be provided by government and industry leaders at the event.

The EDI will allow investors to deduct a proportion of the eligible exploration expenditure against their personal taxable income.AMEC CEO Simon Bennison said the EDI would help reverse the ongoing reduction in Australian greenfi elds exploration activities and the low number of Initial Public Off erings for mineral projects in Australia.With access to capital a key concern for mining and exploration companies, the panel session at the AMEC Convention will explore ‘options for sourcing capital’.The panel will consist of On-Market Bookbuilds CEO Ben Bucknell, Poseidon Nickel Managing Director and CEO David Singleton, Hartleys Head of Corporate Finance Grey Egerton-Warburton, and will be chaired by CCB Capital Mining Executive Campbell Baird.“This panel session will be extremely timely and helpful for mining and exploration companies, providing a platform for interactive discussion and generating innovative solutions,” Mr Bennison said.

Offi cial launch of the Exploration Development Incentive

Hon Ian MacfarlaneMinister for Industry

THE WEST AUSTRALIAN WEDNESDAY, JUNE 11, 2014 • 7

ASSOCIATION OF MININGAND EXPLORATION COMPANIES

Delivering solutions to secure Australia’s resources future over the long termThe 10th anniversary AMEC Convention will bring together a wide range of government and industry leaders to investigate ‘Solutions for today. Mines for tomorrow’.The event will be held on July 1 and 2 at Crown Perth and will explore longer-term solutions to secure the future of the mining industry from both a national and international perspective.Prime Minister Tony Abbott will be delivering the offi cial opening via video presentation on the fi rst morning of the convention. Former Premier of Western Australia Hon Richard Court will deliver the Sir Arvi Parbo Oration, the convention keynote address. His

presentation will explore what we can learn from the last boom and preparing for the next cycle.The convention will also discuss the impact of global economies on the Australian resources sector.Dr Geoff Raby will be examining the opportunities for the Australian resources industry which could fl ow from China’s current reform agenda.Treasury Secretary Dr Martin Parkinson will open the second morning, addressing the challenges and opportunities for Australia over the next decade.

The two-day event features an exhibition area with a range of small and emerging mining companies, mineral exploration companies and service providers to the industry. Investor presentations will be delivered from companies including Blackham Resources, Doray Minerals, Encounter Resources, Independence Group and Millennium Minerals.This year the convention will feature company success stories, demonstrating the ways in which some companies have overcome challenges and what the industry can learn from them. Companies delivering success stories include Atlas Iron, Roy Hill, Doray Minerals and Sandfi re Resources.

The AMEC Convention will provide valuable networking opportunities including a cocktail function on the fi rst evening on July 1.The AMEC Convention Dinner on July 2 provides additional networking and relationship building opportunities with senior government offi cials and industry stakeholders.The prestigious AMEC Prospector Award, as well as the AMEC Media Awards and the AMEC Environment Award, will be presented at the convention dinner. For more information about the AMEC Convention 2014 or to register online and purchase dinner tickets, visit www.amecconvention.com.au.

Confi dence in industry’s resilience

There is no doubt the resources industry has been doing the heavy lifting over the last six years, paying in excess of $100 billion in corporate tax and royalties which have supported government revenue streams.While the industry accounts for around two per cent of the Australian workforce, it accounts for more than 10 per cent of Australia’s GDP and has accounted for up to 60 per cent of new investment in the economy.Prime Minister Tony Abbott will be delivering the offi cial opening via video presentation on the fi rst morning of the convention, addressing the integral role of the industry in the Australian economy.Former Premier of Western Australia Hon Richard Court will deliver the Sir Arvi Parbo Oration, the convention’s keynote address. He will investigate the question ‘why are we now facing a national budget crisis after a decade of strong resources

sector growth and massive government revenue streams from the industry?’ “We need to learn some lessons quickly before the next major revenue infl ux from the resources sector arrives,” Mr Court said.“Australians need to be educated to demand strong surpluses from their governments when the resources sector enjoys such strong growth. It is inexcusable to have a nation in debt after experiencing the strongest decade of revenue growth in our nation’s history.”Australia must increase its attractiveness as an investment destination or it could miss out on the next mining boom opportunity to generate essential government revenue streams.“Australia will face increasing competition globally in the supply of both minerals and energy. We will need to maintain our competitive position but at the same time also seek to provide the high value services to those new projects in other countries giving long-term career paths to our engineers and the other resources professionals,” Mr Court said.

Despite these challenges Mr Court said he was confi dent in the resilience of the industry and it was important to not write off the small to mid-cap mining sector in these challenging times.

Exploration Development Incentive Offi cial LaunchThe offi cial launch of the Exploration Development Incentive (EDI) by Minister for Industry Hon Ian Macfarlane will take place at the AMEC Convention.1.10pm Wednesday July 2 Hon Ian Macfarlane, Minister for Industry

Western Australian royalty rate analysisThe Departments of State Development and Mines and Petroleum is undertaking the fi rst signifi cant review of mineral royalties in Western Australia in more than 28 years. The analysis is reviewing the effi cacy of the 10 per cent mine-head benchmark and the three tiered ad valorem royalty rate structure.9.20am Wednesday July 2Michelle Andrews, Deputy Director General, Department of Mines and Petroleum

“It is inexcusable to have a nation in debt after experiencing the strongest decade of revenue growth in our nation’s history” Hon Richard Court

Offi cial Opening

Prime Minister Tony Abbott Video Presentation

Sir Arvi Parbo Oration

Hon Richard Court AO Former Premier of WA

Competitive in a global marketplace

In a global marketplace where capital is extremely mobile, Australia must remain internationally competitive. This requires an in-depth understanding of the global factors that have a direct impact on the industry.The opening morning of the AMEC Convention on July 1 will investigate these international issues and examine the impact on the resources sector.BT Financial Group Chief Economist Dr Chris Caton will address the global economic outlook for the next decade in his presentation ‘Where the world is going...the economic background for the minerals industry’.Investigating the issues facing the United States, Europe, Japan and other regions he will look at the common themes such as ageing

populations and the global fi nancial crisis (GFC) and what to do about them.“The world is continuing to emerge slowly from the aftermath of the GFC,” Dr Caton said.“Australia should lead the way in developed-country growth in the next decade, in part because our ‘ageing problem’ is less than elsewhere.”Dr Caton will look at some solutions for achieving growth and what this may look like in the short to medium term.Geoff Raby and Associates Chairman and CEO Dr Geoff Raby will be examining the opportunities for the Australian resources industry that could fl ow from China’s current reform agenda. China has been a key driver of the minerals resources industry in recent years and Dr Raby will investigate the impact of China on the future of the Australian industry.

Dr Raby is the former Australian Ambassador to China and Deputy Secretary of the Department of Foreign Aff airs. SNL Metals and Mining (formerly IntierraRMG) will present on ‘The state of the global commodities market’.

“Get ready for a higher GST as we continue to address our medium-term fi scal issues” Dr Chris Caton

Where the world is going...the economic background for the minerals Industry

Dr Chris Caton Chief Economist BT Financial Group

Dawning of the Xi era – implications for Australia’s resources industry

Dr Geoff Raby, Chairman and CEO, Geoff Raby and Associates

6 • WEDNESDAY, JUNE 11, 2014 THE WEST AUSTRALIAN

1-2 July 2014, Crown Perth, Western Australiawww.amecconvention.com.au