2023 SME Event

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Looking Forward – How to Best Manage Risks Impacting Mineral, Energy and Mining Supply Chains

Welcoming Remarks by the New York Section of SME

NY SME - To Be Announced

Setting the Stage: Why are Critical Minerals Supply Chains Important to All of Us?

Listen to prominent critical minerals supply chain experts engage in a lively discussion about why these minerals in the 21st Century are so vital to North America. What are key issues and trends all need to know and why relying on 'free market' forces may not be enough to ensure a reliable supply of these materials? What is fundamentally different about them? What can be done to support supply and what is the outlook for critical, battery mineral supply chains? Mining and the processing of these minerals is not well understood, especially considering the long lead times involved to get a mineral resource discovery into production - that can often be as long as 10 to 15 years, sometimes longer. How are these issues considered and managed in an environment whereby among the first or most prominent issues owners and project sponsors must first answer and account for is how they will respect and comply with the requirements of gaining and sustaining the important issue of Social License within and outside the local community? Bloomberg New Energy Finance: Sharon Mustri, Metals & Mining Analyst Hatch Advisory: Siddarth Subramani, Principal House Mountain Partners: Chris Berry, Founder and President - Moderator Laurentian Bank Securities: Angelina Mehta, P. Eng, MBA, LLM, Director, Mining, Investment Banking

How is Quebec Planning a Path Forward? A Case Study

A jurisdiction that has rich mineral resources and that is in close proximity to the major North American markets and that is home to many mining and exploration enterprises with a long history in the mining and mineral processing industries is the Province of Quebec. Please welcome and join in to hear a senior official from Quebec speak about key points about its policy to encourage investment and mining operations in Quebec as well as why it is so important to its people, industrial economy and those in and serving the global critical and battery minerals supply chains. The Official may be introduced by the Government of Quebec's New York Delegate General. To Be Confirmed To Be Confirmed

How Do Industrial and Consumer Demand Drive the Need for More Critical Minerals?

Listen to this roundtable discussion with key industrial and consumer-based company executives whose products use these minerals. This panel will discuss key business, economic issues and trends that support the exploration, development and expansion of critical battery minerals and related services supply chains. Blue Solutions: Adrian Tylim, Business Development USA – Americas McKinsey & Company: Ken Hoffman, Global Co-Leader EV Battery Materials Group – Moderator RhoMotion: Adam Panayi, Managing Director The Lion Electric Co.: Patrick Gervais, VP Marketing and Communications

First Nations’ Role in the Development and Strengthening of Critical Minerals Investment

The role and involvement of local communities and all stakeholders' interests in mining include owners, financiers and investors in mining as well as exploration has become a prominent and often first-asked question of executives and project owners and sponsors regarding the long-term prospects and future success by investors today. Join us in this panel discussion to hear representatives from Quebec, including First Nations and mining companies and others working to advance the interests of First Nations peoples and the interests of others in an engaging roundtable panel discussion. How have First Nations been successful in recent years to engage with mining company executives in constructive dialogue and successfully work as partners overcoming the complex issues, while aligning interests for future economic benefit and investment in the local communities in mineral rich areas in Quebec. Société du Plan Nord: To Be Confirmed To Be Confirmed To Be Confirmed To Be Announced

Traceability, Enabling Transparency, Accountability, and Circularity - a Battery Case Study

There is an increasing need to understand material provenance in the Li-ion battery supply chain. Environmental and social impact awareness as well as political issues and resource scarcity requires all to evaluate investments, optimize production and reduce losses. Until now, industry has responded to these emerging concerns by establishing new standards about responsible sourcing and ESG issues. This panel will discuss how traceability and innovative technology are successfully used in other industries and how they can help increase the reliability in supply chains and visibility for better asset and performance management and how recycling value chains can create economic value, sustainably. Lithion Recycling: Yves Noël, VP & CBDO Nouveau Monde Graphite: Eric Desaulniers MSc., Geo. President and CEO Optel Group: Ken Fallu, Global Head of Strategy, Mining and Environment Propulsion Quebec: Simon Thibault, Director (Chair) World Economic Forum: Mathy Stanislaus, Interim Director of Global Battery Alliance

How Mining Chains are Advancing the Development of Responsible Nickel Mining

Often heard today are concerns about the battery material supply chain. An often neglected component in past years, the importance and role of Nickel and Cobalt supply worldwide has battery makers and consumers scrambling to source stable, reliable and responsible supplies of this metal. Join this engaging panel discussion about several key trends involving producers and consumers from the industrial side, led by key market experts who will engage all in a lively discussion about the technology involved in mining and processing of nickel, recent business trends impacting the nickel market and the outlook for an industry in need of capital investment to produce stable, sustainable, responsible nickel. CRU Consulting: Alex Laugharne, Principal - Moderator Dumont Nickel: Johnna Muinonen P.Eng., President Evercore Group: Andrew Frame, Managing Director, Global Advisory, Strategic Advisory, Mergers and Acquisitions

How Are Finance and Mining Achieving Green Sustainable Finance for Critical Mineral Mining

Join this panel discussion about funding mining, development and construction and eventual closure led by a group of advisors, mine executives and bankers who plan and communicate with stakeholders to gain and maintain finance, investor and community support. This group of experts will discuss effective technical, operating and investor relations methods for success in this area. To get financing needed, what additional sources of capital are available today that use ESG-ratings and ESG-linked finance? Learn what metrics are used today to evidence and disclose ESG results. What do debt, equity and strategic investors look for in projects as indicators of likely success in achieving a sustainable legacy? This panel will highlight these complex issues in a world seeking to responsibly source battery and critical minerals. Geomega Resources: Kiril Mugerman, President and CEO Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals, Partner, Project Development & Finance - Moderator Societe Generale: Lenaig Trenaux, Regional Head of Metals and Mining, Americas – To Be Confirmed To Be Confirmed To Be Announced

What is Ahead for the Critical Minerals Sector in North America

Join us for this forward-looking panel discussion about key issues and trends about what is ahead and what managers, owners, investors, officials should be thinking about. How to best navigate a way forward, manage risk, uncertainty, and insure certainty of low-cost supply of critical minerals in North America. Benchmark Mineral Intelligence: James Clark, Principal Consultant - Moderator SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory) To Be Announced To Be Announced

Overview of SME and Society for Mining, Metallurgy & Exploration (SME) Foundation (SMEF) Programs: Supporting and Inspiring Mining Professionals Worldwide

There are many angles to address sustainability not just in mining, but by society as a whole. Mining corporations and their investors seek long term sustainability not just in the performance of their mines and cash flows, but also in their relationships with the communities and stakeholders with whom they interact. Today’s mining industry is developing and implementing best practices that strive to establish and sustain positive equilibria within the ecosystem in which it operates to minimize harm, to promote sustainability of diverse species, the environment and the niches they occupy, and to return the space occupied by a mine to an ecologically productive area. Individually, each link in the mining cycle, from discovery to closure and including recycling, must define its own path to sustainability that is compatible with other components of the mineral supply chain and in a fashion that is accepted by society. Governments, manufacturers and consumers count on the sustainability of mineral supply to meet their demands and wishes for uninterrupted economic growth, sustained high-level employment and quality-of-living products. These aspirations are achievable only if there is sustainable growth in wealth at all levels of society.

Eagle Mines Management, CEO: Robert W. Schafer, Reg. P.G., and 2020 SME President

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Standard & Poor's: Donald Marleau, CFA; Senior Director, Sector Lead, Natural Resources Corporate Ratings - Key Note Presentation

The Great Raw Material Disconnect: Can Battery Raw Materials Supply Keep Pace with Demand?

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HATCH: Mike Jones, C. Eng, P. Eng, Regional Director, Africa, Europe and Middle East - Session Chair

Wheaton Precious Metals Corporation: Randy Smallwood, P. Eng., President and CEO

Some of the topics and questions Mr. Smallwood in a fireside chat with HATCH's Mike Jones, C. Eng, P. Eng, will speak to include: What is precious metals streaming and why does it appeal to mine operators as a form of financing? What does “operating sustainably” mean to Wheaton? How is ESG integrated into the due diligence process? Does ESG impact the speed and manner of the evaluation process? How does a streaming company maintain a focus on sustainability post-investment?

Economic And Political Risks To Precious, Base, and Specialty Metals, Including Uncertainties Related To The Energy Transition

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Hecla Mining Company: Phillips S. Baker, Jr., President & CEO

SRK Consulting: Jeff Parshley, P. Geo, Group Chairman, Corporate Consultant (Environment) - Session Chair

Join us to hear an engaging discussion moderated by Jeff Parshley, Chairman of SRK who has more than 40 years of environmental and mine closure experience on projects around the world, together with Phil Baker, CEO of Hecla Mining Company and Chris Taylor, CEO of Great Bear Resources. On May 13, 2021 Hecla Mining released its 2020 Sustainability Report with its theme: Small Footprint, Large Benefit. Therein, Hecla highlighted its achievements and goals related to GHG emissions; energy reduction and health and safety and injury reduction targets and more. Also participating in this fireside chat will be Chris Taylor who may discuss the potential long term impact its Dixie Project in Red Lake, Ontario may have on local communities, Great Bear's existing and expanding relations with its neighbors and other topics as were highlighted in a June 5, 2021 on-line interview with one of Chris' colleagues at Great Bear.

Risks and Uncertainties in Minerals/Materials Supply Chains – An All-on-the-Table Conversation

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A discussion between Michael Maten, Lead for Electric Vehicle Policy Strategy at General Motors, and Terry Scarrott, Principal Consultant at Benchmark Minerals will about the issues facing the auto industry in developing a full and complete supply chain for lithium ion batteries and how GM is tackling and overcoming the obstacles. The session will focus on the full value chain from mine to cell and how the auto industry and effective public policy can assist in developing not only cell production, but cathode, anode and the associated raw materials.

Robust Raw Material Supply Chains for the Present and Future – What Needs to be Done?

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Geomega Resources Inc.: Kiril Mugerman, President and CEO

Lithion Recycling Inc.: Jean-Christophe Lambert, Business Development Manager

Optel Group: Ken Fallu, Global Head of Strategy, Mining & Environment

While the indisputable benefits of EVs are widely recognized, new concerns have emerged in recent years about understanding the environmental impacts of the Li-ion battery supply chain. Social awareness and political issues also require that the industry better evaluate investments, optimize production and reduce losses. This panel will discuss how traceability and innovative technology can help increase the reliability in supply chains, offer better performance management and how recycling value chains can create economic value and sustainably.

Financing the Development of Critical Minerals Projects: A Roundtable Discussion

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Bullfrog Gold Corporation: Maryse Belanger, CEO

Orion Resource Partners: Jon Lamb, Portfolio Manager

Societe Generale: Lenaig Trenaux, Managing Director and Regional Head of Mining and Metals Finance Americas

Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals – Moderator

Join this panel discussion on financing the critical mineral supply chain from mining through processing up to end use. This group of experts with representatives from the corporate, commercial bank and private equity worlds will discuss the key challenges of investing in the critical minerals sector. They will discuss what makes investing in critical minerals different from investing in more tradition commodities (such as gold and copper), the kinds of debt investments seen to date in the sector and those most likely in the near term. In particular, they will explore the role of ESG-linked investment instruments in funding development of the sector. The panel will also explore what roles end users and governments might play in supporting development of the sector. This panel will highlight these complex issues in a world in which the need for these minerals is expected to see exponential growth and in which there will be a very public focus on responsibly sourcing these critical minerals.

Financings: Christmas Presents and Death Spirals – Two Sides of the Same Coin

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Benchmark Mineral Intelligence: James Clark, Principal Consultant – Moderator

BlackRock Metals, Inc.: Sean Cleary, Chairman and CEO

Join us for this forward-looking panel discussion about key issues and trends about what is ahead and what managers, owners, investors and officials should be thinking about. How to best navigate a way forward, manage risk, uncertainty, and insure certainty of low-cost supply of critical minerals in North America.

Session recording

NY SME: Tim Alch, Executive Director

Opening Remarks

Panels

Great Bear Resources Limited: Chris Taylor, M.Sc., P. Geo.: Director; President and CEO

Overview of SME and Society for Mining, Metallurgy & Exploration (SME) Foundation (SMEF) Programs: Supporting and Inspiring Mining Professionals Worldwide

The mission of the SME Foundation is to attract and leverage resources for a sustainable mining industry through education and outreach. Steve Holmes, President of the SME Foundation (SMEF), is Chief Operating Officer of the First Majestic Silver Corporation.

Benchmark Mineral Intelligence: Terry Scarrott, Principal Consultant - Session Chair

General Motors Corporation: Michael A. Maten, General Motors' Lead for Electric Vehicle Policy Strategy

Geomega Resources: Kiril Mugerman, CEO and President

Northcott Capital: Richard G. Reeves, Managing Director

SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory)

Click on each panel to view session.

From Mining to Manufacturing, Risk Management of a Whole Supply Chain: The Quebec Approach - Government of Quebec

Session recording

NY SME: Tim Alch, Executive Director

Contact

We encourage all to learn more about NY SME and our future programs by visiting our website. NY SME welcomes your expressions of interest to participate as a speaker in future NY SME events by emailing info@smeny.org

Save the Date for SME’s 2021 SME Annual Conference & EXPO on March 1-5, 2021. Learn more about this event and check for updates on the official conference website.

On January 10, 2023 hear, watch, learn from many industry leading experts discussing the global extractive industries' efforts to manage and de-risk geological, technical, technology, human & financial capital and regulatory issues with ever-changing ESG and social license regulations as macro-economic, geopolitical and jurisdictional risks change too - as the industry works to attract human and investment capital for exploration, development, and operation of critical, precious, industrial, construction and strategic mineral mines.

NY SME: Tim Alch, Executive Director

NY SME: Alan Oshiki, Chairman, and Abernathy MacGregor: Executive Vice President

NY SME: Tim Alch, Executive Director

Tim Alch is Executive Director (2016-20) and Executive Committee Member (2008-16) of NY SME, Managing Partner of TAA Advisory and Mining & Development Services. Since 2012, Tim has chaired more than 25 expert panel discussions and was co-chair of NY SME’s annual Current Trends in Mining Finance (CTMF) Conferences. His work spans equity, management and investment analysis focused on metals, mining and energy, and executive placement. He is a Senior Associate and was a Managing Director of Behre Dolbear; SVP of Anderson & Schwab; Equity Analyst at Paine Webber, Prudential Securities, and Dean Witter Reynolds and Senior Industry Analyst at CRU International (London), World Steel Dynamics (New York) and Resource Strategies (Philadelphia). He is an Honors Geology graduate, and John Mason Clarke fellow of Amherst College; studied Mineral Economics, Penn State; and member of SME, AEMA, PDAC and NCUSCR and a SME Finance Strategic Committee member (2017-20).

NY SME: Alan Oshiki, Chairman, and Abernathy MacGregor: Executive Vice President

Alan Oshiki is the Executive Vice President of Abernathy MacGregor (New York), one of the world’s top corporate, strategic and financial communications consultancies. Alan advises on event-driven stakeholder engagement for initial public offerings, mergers and acquisitions, crises, activist shareholder defense, litigation, bankruptcy and financial restructuring, as well as innovative, high-impact approaches to ongoing communications with business audiences. Alan helps management teams and boards of directors engage their investors, customers, employees and other important stakeholders to attract capital and deal flow, generate revenue, and build loyalty and support. He works with some of the world’s largest corporations, as well as middle-market companies, start-ups, private equity sponsors, professional services firms and industry associations. Alan has over ten years of direct mining industry experience in engineering, management and finance with BHP/Magma Copper. His mining industry clients have included Alpha Natural Resources, Hecla Mining Company, Coeur Mining Inc., and Joy Global Inc. He holds an MBA from the University of Arizona and a BS in Mining Engineering from the University of Idaho. A published author as well as a frequent speaker and workshop leader, Alan is also Chairman and Treasurer of the New York Section of the SME.

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If you are interested to read about the development of critical and strategic minerals in Quebec, a start is here and a video is here. We encourage you to join NY SME as well as join and learn more about SME here.

NY SME's 3rd Thought Leaders in Mining Symposium

| Welcome by Society for Mining, Metallurgy & Exploration

| Opening Remarks - How Mining Can Get Sustainability Right

8:35 AM

| The credit and capital markets today are adjusting as are participants in the metals, mining and energy sectors worldwide. What are key trends and issues?

9:00 AM

| What is sustainability finance? How are banks, investors, financiers adapting to expectations?

9:30 AM

| How Can Explorers, Developers and Miners position themselves for the long term? What ESG issues and metrics are considered by funders and how are industry operators adjusting to changing expectations?

10:00 AM

| General Motors announced ambitious plans to produce electric vehicles (EVs): What is needed?

10:30 AM

| Circulatory, Life Cycle Planning and Recycling: Have these issues' time come?

11:00 AM

| An Aerial View of Mine Cycle Planning in a Corporate Context: Sustainable operations is no longer a matter of "if" or "when" – It’s a matter of how.

11:30 AM

| Mining the Value of ESG: How Sustainable Development Practices Create Greater Wealth

12:00 PM

| Governments, Policy Makers and Communities can be core to offset, support, moderate financial, technical and commercial risks

12:30 PM

| Credit Committees, Financiers, Capital Markets, Commercial and Investment Banks, Strategic Investors hold the Keys to funding. What should be known? Revealed? How?

1:00 PM

| There are Examples; How have and are Larger Sector Players Adapting? What is ahead?

1:30 PM

| Closing Remarks and Announcement: Save the date. Look for updates here about NY SME's 8th Annual Current Trends in Mining Finance (CTMF) Conference on May 16-20, 2022 in New York.

2:00 PM

8:25 AM

NY SME: Tim Alch, Executive Director, Program Chair NY SME: Alan Oshiki, Chairman, and Abernathy MacGregor: Executive Vice President

Resources Québec: Jean-François Béland, Vice Président - Moderator

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Bullfrog Gold Corporation: Maryse Belanger, CEO

Orion Resource Partners: Jon Lamb, Portfolio Manager

Societe Generale: Lenaig Trenaux, Managing Director and Regional Head of Mining and Metals Finance Americas

Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals – Moderator

Galvanizing Our Future: The Case for Zinc

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Benchmark Mineral Intelligence: James Clark, Principal Consultant – Moderator

BlackRock Metals, Inc.: Sean Cleary, Chairman and CEO

Geomega Resources: Kiril Mugerman, CEO and President

Northcott Capital: Richard G. Reeves, Managing Director

SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory)

Geopolitical and Market Uncertainty – What do I Consider and How do I Consider it?

NY SME: Tim Alch, Executive Director

Save the Date for SME’s 2021 SME Annual Conference & EXPO on March 1-5, 2021. Learn more about this event and check for updates on the official conference website.

Opening Remarks

Session recording

Is Canada Really Open to New Investment in Energy Infrastructure?

Steve Holmes is a mining engineer with over 35 years of experience and is responsible for overseeing all operational functions of the First Majestic's silver mines and projects. Prior to joining First Majestic, Mr. Holmes held the position of Vice President, Joint Venture Portfolio at Barrick Gold Corporation, a global gold mining company, and was responsible for overseeing Barrick's interest in their Global Joint Venture operations and projects. He previously served as the COO for KGHM International, Operations Vice President at the Sierra Gorda copper mine in Chile and has acted in general management roles at Asarco, the Mine Technology Group, Chino Mines Company and Freeport-McMoRan.

Steve Holmes, Chief Operating Officer, First Majestic Silver Corp. and SME Foundation (SMEF), President

SESSION RECORDING

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The Great Raw Material Disconnect: Can Battery Raw Materials Supply Keep Pace with Demand?

Jessica Roberts is Head of Forecasting for Benchmark Mineral Intelligence, leading a team of global analysts responsible for Benchmark's forecast subscription services. She has spent the past 14 years demystifying the opaque world of critical materials, at global research and consultancy organizations including Wood Mackenzie, Roskill, and Fastmarkets. Jessica has worked across a range of critical minerals and metals, including cobalt, graphite, fluorspar, lithium, tantalum, tungsten, titanium and tin, both as an industry consultant and research manager. She is an authoritative voice on critical material supply chain dynamics, featuring in print and broadcast media, and regularly speaks at industry conferences. Jessica has a Master's degree in Geology from the University of Leicester.

Jessica Roberts Head of Forecasting, Benchmark Mineral Intelligence

SESSION RECORDING

Risks and Uncertainties in Minerals/Materials Supply Chains – An All-on-the-Table Conversation

In these messy times, new-found attention is being placed on materials supply chains as stresses develop around energy, non-energy and defense priorities collide with market and geopolitical realities. Public antipathy in the U.S., Europe and even countries where minerals production is a primary activity encumbers both expansions and green field projects. The industry must deal with "ESG" pressures that are influencing capital markets heavily and for which many operational and commercially acceptable solutions do not yet exist. Broad lack of coordination within and among governments and societies over conflicting priorities are disrupting commodity markets and contributing to inflation pressures. Will the industry be able to respond in effective ways to opportunities and challenges?

Michelle Michot Foss, Ph.D., has more than 45 years of professional consulting, investment banking and university leadership research experience in oil, natural gas, LNG, and power with early career involvement in the mining industry. She has led USG and other assignments in more than 20 countries.

Michelle Michot Foss, Ph.D. Fellow at Baker Institute Center for Energy Research, Rice University

SESSION RECORDING

Robust Raw Material Supply Chains for the Present and Future – What Needs to be Done?

Robust supply chains are key for a functioning and prosperous economy. During these times of a pandemic, disruption of global logistic systems and the Russian war in Ukraine, this matter has become of exceptional importance for Germany and Europe. New approaches to strengthen the raw material wealth of the region are necessary and will be discussed in this presentation. The focus is on governmental measures and options for companies.

Sven-Uwe Schulz is deputy head of the German Mineral Resources Agency (DERA) in the Federal Institute for Geosciences and Natural Resources (BGR), the Federal Geological Survey of Germany, that is a subsidiary organization of the German Ministry for Economic Affairs and Climate Change. Sven serves as head of the unit ‘Evaluation of Mineral Resources' of DERA. He has more than 20 years experience in the fields of mining engineering, consulting, project management and project evaluation. Mr. Schulz has worked for two engineering consultants and a university before he joined DERA in 2013. He holds a doctoral degree from the Technical University of Berlin, Germany (2008) as well as a master's degree in mining engineering (2001) from the same university.

Sven-Uwe Schulz Deputy Head of German Mineral Resources Agency (DERA), Federal Institute for Geosciences and Natural Resources (BGR), the Federal Geological Survey of Germany

SESSION RECORDING

Roundtable Discussion Financing the Development of Critical Minerals Projects

This roundtable discussion examines key challenges to financing the development of critical mineral projects from the point of view of three major types of investors in the mines and metals sector-- international commercial banks, private equity funds and royalty/streaming companies. Representatives from all three discuss what the fundamentals are for a financeable project, how those are the same or differ from more traditional mineral projects, changes which may be required in how investors analyze and mitigate risks in critical mineral projects and more.

Cynthia Urda Kassis is Partner, Head of Project Development & Finance and Lead Industry Coordinator for Mining & Metals. Cynthia has decades of experience representing sponsors/borrowers as well as providers of finance in project, finance and joint-venture transactions worldwide, with extensive experience in the mining industry, as well as in infrastructure and energy. For her impact in the space she has been a three-time recipient of the “Project Finance Lawyer of the Year” award by Who's Who Legal. Cynthia's notable work in the mining space includes the representation of: (i) Orion and Blackstone in the financing of Lundin Gold's $1B+ Fruta Del Norte Project in Ecuador; (ii) Orion Mine Finance on its acquisition of Occidental Petroleum's Wyoming, Colorado and Utah Land Grant assets for about $1.33 billion and the financing thereof; (iii) Société Générale and ING on the structured acquisition financing of Cobalt 27 and (iv) Nevada Copper on the development and financing of its Pumpkin Hollow Underground Copper Project.

Cynthia Urda Kassis Partner, Head of Project Development & Finance | Lead Industry Coordinator for Mining & Metals, Shearman & Sterling LLP

Alice England joined Ecora Resources PLC in March 2019. She has over 15 years’ experience in the natural resources sector, and a detailed understanding of the legal terms and structures of royalty and streams. In 2021 and 2022, Alice played a key part in the successful completion of two of the largest deals in Ecora Resources’ history, totaling nearly $400 million. The transactions successfully pivoted the Company away from its coal heritage towards the commodities required to support a more sustainable future. Prior to joining the Group, Alice began her legal career at Herbert Smith Freehills. She qualified as a lawyer at Dentons and during that time worked in the Middle East on hydropower and carbon capture storage projects. Subsequently Alice worked as a senior legal and commercial adviser at a FTSE 250 oil and gas company, where she provided advice on a wide range of transactional and operational matters with a particular focus on corporate M&A, fundraising, acquisitions and disposals, corporate governance and dispute resolution. Alice has a BA (Hons) in English Literature and Diploma in Law from Exeter University and Legal Practice Certificate from Oxford University, College of Law.

Alice England General Counsel, Ecora Resources PLC

SESSION RECORDING

Kate Southwell is General Counsel of Pala Investments, a private investment fund based in Zug, Switzerland. She has been with Pala for over 9 years. Pala is a thematic fund focused on value creation along the mining and metals supply chain and facilitating the sustainable supply of commodities for the green transition. Kate has led several transformative M&A and innovative financing transactions in nickel, copper, cobalt and other battery metals. Kate manages all legal, commercial and strategic matters for Pala and its hedge fund, Pala Assets and is co-head of ESG. As a qualified lawyer in both the US and UK, Kate brings a strong commercial focus to drive excellence, communicate complex legal problems in an accessible way, and minimize risk. Kate is a director of Nevada Copper (TSX:NCU) and Kasbah Resources Ltd. Kate is a regular speaker on ESG and decarbonization at industry events, and is passionate about improving diversity, sustainability and safety in the mining sector. Prior to joining Pala, Kate was with Nyrstar NV, and worked on numerous transformative projects including the Breakwater acquisition and the redevelopment of the Port Pirie smelter in South Australia.

Kate Southwell General Counsel, Pala Investments

Lénaïg Trenaux is Societe Generale's Global Head of Mining, Metals & Industries, based in Paris after previous experiences in the US and London. Lénaïg has more than 20 years of experience in the sector and has been involved in a broad range of transactions, leading several high profile transactions in Europe, Africa, and the Americas. SG is a lead bank in the critical minerals financing globally and continues to further deploy in new value chains, linked to energy transition and supply chain reshoring. Lénaïg’s teams have developed strong expertise across the EV value chain, from the upstream to the downstream as well as in the various metals decarbonisation and circularity sectors.

Lénaïg Trénaux Global Head of Mining, Metals & Industries, Société Générale Corporate & Investment Banking

Financings: Christmas Presents and Death Spirals – Two Sides of the Same Coin

Kai Hoffmann is the CEO of the Soar Financial Group, a diverse group of companies focused on the mining sector. Part of the Soar Financial Group, Oreninc is North America's leading provider of relevant financing information in the junior commodities space. Tracking over 1,350 companies on the TSX, TSX-V and CSE gives him valuable insight into the current state of the markets. Kai frequently presents his groups' findings at leading industry conferences worldwide. He recently presented and opened the capital markets program at the world's largest mining conference PDAC in Toronto. Follow Kai on Twitter @soarfinancial and @oreninc for up-to-date market commentary, live interviews and more.

Kai Hoffmann Managing Director, Soar Financial Partners

SESSION RECORDING

From Minerals to Metals: What Investors Need to Know; A Metallurgical Perspective

The development of a mineral discovery to an operating mine and ultimately to production of metal is a long journey with many twists and turns, orchestrated by a cast of many disciplines. Investors in such an opportunity want to see a quick return on investment. So what should the investor group expect to see in the years of development as progress and what should the investor be asking the company management about the detailed development? What are the critical stages; what are the critical criteria required and what criteria can be waived off to the operating phase; are the monetary expenditures all necessary to obtaining a profitable operation?

Marc LeVier is a minerals industry consultant with over 50 years of experience in the mining industry. He has worked in mining operations and the development of new mining projects from exploration to operation. He has worked for mining companies as well as engineered equipment companies in support of the mining industry. Mr. LeVier most recently worked as the Senior Director of Metallurgical R&D for Newmont Mining Corporation. In 2011 Mr. LeVier started a minerals industry consulting company, providing metallurgical and analytical expertise to the industry. He has been the CEO and Director of several rare earth junior mining companies, leading efforts to develop new rare earth deposits. Mr. LeVier's experience covers base metals, precious metals, industrial minerals, iron ore, rare earth minerals, and energy minerals.

Marc LeVier President, K. Marc LeVier & Associates

SESSION RECORDING

Roundtable Discussion From Mining to Manufacturing, Risk Management of a Whole Supply Chain: The Quebec Approach - Government of Quebec

Quebec presents a strong potential for critical and strategic minerals, with high potential in the northern part of the territory. Manufacturing areas are located in the south, close to the Saint-Lawrence Seaway. Quebec has governmental agencies at all stages of the value chain which helps with risk management. Those agencies create an attractive business environment that is facilitating the creation of new critical and strategic mineral supply chains, from mining to industrial project development.

Chair: Jonathan Lafontaine is a Geologist with degrees from both Laval University and the University of New Brunswick. He has worked in the field of exploration and mining development since 2001 in a vast array of commodities and deposit types, throughout numerous Canadian provinces. He is the Mining Exploration Activity Monitor for the Ministry of Natural Resources and Forests, a role which he has held since 2020.

Jonathan Lafontaine Mining Exploration Activity Monitor, Ministry of Natural Resources and Forests

Patrick Beauchesne, President, CEO, Managing Director, Société du Plan Nord is a holder of a bachelor's degree in Forest Resource Management and a master's degree in Forest Sciences, Mr. Beauchesne was appointed president and chief executive officer of the Société du Plan Nord in 2019. Previously, the same year, he was associate secretary general of the Minister of the Executive Council and Secretary of the Ministerial Committee for the Economy and the Environment. Previously, Mr. Beauchesne held various positions within the Ministry of the Environment and the Fight against Climate Change, starting in 1992. As Director General of Ecology and Conservation, he contributes to the preparation of territory protection objectives as part of the development of the Plan Nord in 2010 and 2015. He was appointed Assistant Deputy Minister for Sustainable Development and Environmental Quality in 2014, then Deputy Minister in 2017. Mr. Beauchesne sits on the boards of directors of the Pointe-Noire Rail and Port Company S.E.C., and of the Qc Rail S.E.C. Railway Company, as well as on the steering committee of the Institut nordique du Québec.

Patrick Beauchesne CEO, Société du Plan Nord

Amyot Choquette is a Senior Director Investments since 2012 at Ressources Québec, a division of Investissement Québec that invests and finances projects in the mining, forestry and energy sectors. Prior to occupying these functions, Mr. Choquette has held a number of functions at the Société Générale de Financement du Québec in the mining and forestry sectors. Mr. Choquette has also worked at the Fonds regional de Solidarité FTQ, a labor sponsored fund, and at Raymond Chabot Grant Thornton. Mr. Choquette earned is business degree from Université Laval in 1991 and is a CPA CA since 1993.

Amyot Choquette Senior Director Investments, Ressources Québec

Donald Olivier, an accomplished engineer, holds a Bachelor's degree, Engineering and Construction Management from the école de Technologie Supérieure, earned in 1994, and serves as President & Chief Executive Officer for the Société du Parc Industriel et Portuaire de Bécancour (SPIPB) since May 2022. SPIPB plays a pivotal role in the battery industry's deployment strategy by hosting numerous large companies specialized in the production of battery materials and by assisting future investors in their efforts. Director at Hydro-Québec from 2015 to 2020, Mr. Olivier was responsible for the closure and decommissioning of the Gentilly-2 nuclear power plant, a very sensitive project for the state-owned corporation and for the Bécancour region. As regional director from 2005 to 2014, still for Hydro-Québec, Mr. Olivier was responsible for the operation of 60 dams and 14 hydroelectric power plants in the Mauricie/ Centre-du-Québec region, in addition to leading numerous dam and spillway dismantling, reconstruction and rehabilitation projects.

Donald Olivier President & Chief Executive Officer, Société du Parc Industriel et Portuaire de Bécancour (SPIPB)

SESSION RECORDING

Galvanizing Our Future: The Case for Zinc

The global zinc market is at a critical time of shrinking production. Mine production is growing, but development comes slowly and underinvestment in exploration has limited the volume of quality zinc projects to bring forward. This is not the time to scale back production though, as zinc demand is expected to continue growing during the green transition. The global distribution of zinc mines, zinc smelters and refined zinc customers has further complicated the zinc market. In North America, production is shrinking. In Europe, production has been idled. How did we get here, and more importantly - is this the new normal?

Chris Galbraith is a Toronto-based mining professional. With a career spanning nearly two decades, Chris began as a geologist, investigating a variety of exploration projects for most commodities and across most Canadian jurisdictions. In 2014, he transitioned to market research with SNL Metals & Mining (later a division of S&P Global), regularly publishing research on mine supply, exploration and mine financing trends and speaking at international conferences. In 2021 he joined Teck's marketing division as part of the company's Base Metals Market Research team.

Chris Galbraith P.Geo., Senior Market Research Analyst, Teck Resources Limited

SESSION RECORDING

Sponsors

Geopolitical and Market Uncertainty – What do I Consider and How do I Consider it?

Blackrock's geopolitical risk dashboard suggests the risks of Russia-NATO conflict, global technology decoupling, emerging markets political crisis, and US-China strategic competition are all medium to high. The World Bank notes that supply chain disruptions, lockdowns in China, and the risk of stagflation are hammering growth, and that a recession will be hard to avoid for many countries. While every major institution warning about risks, how do these apply to the mining industry? How may they affect the stability of mineral supplies? Are these risks project-specific or strategic across commodities and locations? What about some countries' hopes to onshore supply chains? How do firms incorporate these risks into their strategic decision making and project execution?

Michael Stine is a mineral economist with Stantec and focuses on valuation, risk analysis, and economic modelling. He previously served as an intelligence analyst at the Central Intelligence Agency where he helped senior policy makers understand the national security risks related to his area of expertise. He enjoys using his technical and economic background to enable decision makers to understand and apply both economic and technical principles to strategic decision making. He has an MS in Mineral and Energy Economics from the Colorado School of Mines and a BS in Mining Engineering from the University of Utah.

Michael Stine Mineral Economist, Stantec

SESSION RECORDING

Is Canada Really Open to New Investment in Energy Infrastructure?

Given recent developments on the international energy stage, the Canadian government has recently made public statements about what role it could play in the shakeup of international energy supply. Unfortunately Canada has no magic bullet to fast track anything when it comes to heavy energy and mining projects. For better or for worse, we have a system that values the rule of law and a public consultation process when it comes to things of significance. In Canada, there are many stakeholders that have to be consulted and that takes time. The projects that we are talking about will take years to approve and years more to implement, and frankly to date have received no support from the current federal government.

Greg McNab is a Senior Partner at Dentons, an international law firm with experience advising on a variety of global mining issues. Greg's practice focus is on assisting resource and energy companies in penetrating and expanding new markets. He has acted for a number of Asian, European and Australian resource companies. Greg provides advice on many aspects of corporate legal matters, including the negotiation and drafting of purchase and sale agreements, joint venture arrangements, earn-in agreements, private and public investment structures, shareholder agreements, opinion letters, applications for regulatory relief and related transaction documents. Greg regularly speaks, writes published articles and appears in the media with respect to a variety of corporate, securities, mining and climate change matters. He is a director and chair of the Canadian Chapter of the Canadian Australian Chamber of Commerce.

Greg McNab Senior Partner, Dentons

SESSION RECORDING

Read our Welcome Letter here

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Standard & Poor's: Donald Marleau, CFA; Senior Director, Sector Lead, Natural Resources Corporate Ratings - Key Note Presentation

Welcome by Society for Mining, Metallurgy & Exploration (SME)

Tim Alch is Executive Director (2016-22) and was Executive Committee Member (2008-16) of NY SME, and Managing Partner of TAA Advisory. Since 2012, Tim has chaired and organized more than 35 expert panel discussions. He is co-chair of NY SME's annual Current Trends in Mining Finance (CTMF) Conferences. His work history spans equity, management and investment analysis focused on metals, mining and energy, and executive placement. He is a Senior Associate and was a Managing Director of Behre Dolbear; SVP of Anderson & Schwab; Equity Analyst at Paine Webber, Prudential Securities, and Dean Witter Reynolds and Senior Industry Analyst at CRU International (London), World Steel Dynamics (New York) and Resource Strategies (Philadelphia). He is an Honors Geology graduate, and John Mason Clarke fellow of Amherst College; studied Mineral & Energy Economics at Pennsylvania State University; and member of SME, AEMA, PDAC and NCUSCR and was a SME Finance Strategic Committee member (2017-20). In 2020 Tim was selected as the 2020 recipient of the SME President's Citation for Local Section Service Award.

Society for Mining, Metallurgy and Exploration: Tim Alch, Executive Director

SESSION RECORDING

Welcome to this, NY SME's third* Thought Leaders in Mining Event

Bullfrog Gold Corporation: Maryse Belanger, CEO

Orion Resource Partners: Jon Lamb, Portfolio Manager

Societe Generale: Lenaig Trenaux, Managing Director and Regional Head of Mining and Metals Finance Americas

Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals – Moderator

Large Scale Demonstration and Deployment Investments in America’s Clean Energy Supply Chain

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Benchmark Mineral Intelligence: James Clark, Principal Consultant – Moderator

BlackRock Metals, Inc.: Sean Cleary, Chairman and CEO

Geomega Resources: Kiril Mugerman, CEO and President

Northcott Capital: Richard G. Reeves, Managing Director

SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory)

Mine Project Finance and ESG

Session recording

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NY SME: Tim Alch, Executive Director

Save the Date for SME’s 2021 SME Annual Conference & EXPO on March 1-5, 2021. Learn more about this event and check for updates on the official conference website.

Opening Remarks

Session recording

Mineral Supply Chain Risks Start with Exploration

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Bullfrog Gold Corporation: Maryse Belanger, CEO

Orion Resource Partners: Jon Lamb, Portfolio Manager

Societe Generale: Lenaig Trenaux, Managing Director and Regional Head of Mining and Metals Finance Americas

Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals – Moderator

Cost Estimating Through the ESG Lens

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Benchmark Mineral Intelligence: James Clark, Principal Consultant – Moderator

BlackRock Metals, Inc.: Sean Cleary, Chairman and CEO

Geomega Resources: Kiril Mugerman, CEO and President

Northcott Capital: Richard G. Reeves, Managing Director

SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory)

Mine Risk Planning includes Closure & Beyond: A Roundtable Discussion

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NY SME: Tim Alch, Executive Director

Save the Date for SME’s 2021 SME Annual Conference & EXPO on March 1-5, 2021. Learn more about this event and check for updates on the official conference website.

Opening Remarks

Session recording

Opportunities and Challenges for an Off-World Mineral Resource Economy: A Roundtable Discussion

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Bullfrog Gold Corporation: Maryse Belanger, CEO

Orion Resource Partners: Jon Lamb, Portfolio Manager

Societe Generale: Lenaig Trenaux, Managing Director and Regional Head of Mining and Metals Finance Americas

Shearman & Sterling LLP: Cynthia Urda Kassis, Head of Mining & Metals – Moderator

A Deeper Understanding of ESG for Better Management and Investment Decision-making

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Benchmark Mineral Intelligence: James Clark, Principal Consultant – Moderator

BlackRock Metals, Inc.: Sean Cleary, Chairman and CEO

Geomega Resources: Kiril Mugerman, CEO and President

Northcott Capital: Richard G. Reeves, Managing Director

SRK Consulting: John Pfahl, M.Eng., SME: Principal Consultant (Corporate Advisory)

Progress Toward Net Zero: The State of Play

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NY SME: Tim Alch, Executive Director

Save the Date for SME’s 2021 SME Annual Conference & EXPO on March 1-5, 2021. Learn more about this event and check for updates on the official conference website.

Opening Remarks

Session recording

Reducing Regulatory Risks in Partnership with Indigenous Communities

Copyright © 2023 Shearman & Sterling LLP is a limited liability partnership organized under the laws of the State of Delaware. Shearman & Sterling (London) LLP is a limited liability partnership organized under the laws of the State of Delaware for the practice of law in the United Kingdom. Shearman & Sterling is a partnership organized under the Hong Kong Partnership Ordinance and registered with the Law Society of Hong Kong for the practice of law in Hong Kong. Shearman & Sterling LLP operates in association with The Law Firm of Dr. Sultan Almasoud for the practice of law in Saudi Arabia. Shearman & Sterling LLP practices in Italy in association with Studio Legale Associato Shearman & Sterling. Attorney Advertising — Prior results do not guarantee a similar outcome.

January 10, 2023

Alan Oshiki is the Executive Vice President of Abernathy MacGregor (New York), one of the world's top corporate, strategic and financial communications consultancies. Alan advises on event-driven stakeholder engagement for initial public offerings, mergers and acquisitions, crises, activist shareholder defense, litigation, bankruptcy and financial restructuring, as well as innovative, high-impact approaches to ongoing communications with business audiences. Alan helps management teams and boards of directors engage their investors, customers, employees and other important stakeholders to attract capital and deal flow, generate revenue, and build loyalty and support. He works with some of the world's largest corporations, as well as middle-market companies, start-ups, private equity sponsors, professional services firms and industry associations. Alan has over 10 years of direct mining industry experience in engineering, management and finance with BHP/Magma Copper. His mining industry clients have included Alpha Natural Resources, Hecla Mining Company, Coeur Mining Inc., and Joy Global Inc. He holds an MBA from the University of Arizona and a BS in Mining Engineering from the University of Idaho. A published author as well as a frequent speaker and workshop leader, Alan is also Chairman and Treasurer of the New York Section of the SME

Society for Mining, Metallurgy and Exploration: Alan Oshiki, Chairman

The pace of growth in the lithium-ion battery sector is astounding; in 2022 Benchmark expects global LiB demand to grow 40% y-on-y, with commensurate demand increases across the LiB raw materials supply chain. At the heart of this growth is the transition to electric vehicles. With this rapid pace of battery demand growth set to remain well into the coming decades, Benchmark data shows more than 300 new mines will be required to meet battery demand by 2035 – even with the growing contribution of battery materials expected to come from LiB recycling. But with average mine development times typically in the range of 5-25 years, the disconnect between demand and supply may be ever-more challenging to bridge.

From Minerals to Metals: What Investors Need to Know; A Metallurgical Perspective

Economic And Political Risks To Precious, Base, and Specialty Metals, Including Uncertainties Related To The Energy Transition

This presentation will discuss the outlook for global and national overall economic growth, inflation, interest rates, money supply, currency markets, and other economic and political issues. In addition to discussing the short and long term outlook for these factors, the presentation will discuss the relationship between such economic and political factors to precious, base, and specialty metals markets. Part of the discussion will be to dispute many commonly accepted tropes that are not supported by data or empirical evidence, e.g. the relationships between inflation, the dollar, and money supply to gold and silver prices. The presentation then will address issues related to the energy transition, some of the major impediments and uncertainties that will slow the energy transition, and the implications of both the energy transition and its slower than anticipated development to various metals markets, including platinum group metals, copper, nickel, manganese, cobalt, and others.

Jeff Christian is Managing Partner of CPM Group, a precious metals and commodities research and consulting firm. He founded CPM Group in 1986 when he bought the Commodities Research Group he managed from J. Aron and Goldman Sachs. He is a globally recognized authority on the markets for precious metals and is well known for his application of economics and econometrics across commodities markets. He has written two books, Commodities Rising in 2005 and World Guide To Battery-Powered Road Transportation in 1979. He also is well known for his financial engineering work using commodities derivatives both for hedging and investment purposes and has worked with numerous governments, central banks, mining companies, industrial companies, investment banks, and institutional investors.

Jeffrey M. Christian Managing Partner, CPM Group LLC

SESSION RECORDING

Ever since the FED started raising interest rates in March 2022, wallets of investors stayed shut for junior exploration and mining companies. Now, tax-loss season is giving savvy investors even more ammunition to squeeze the companies for juicy financings. Should CEOs give in? How hard should investors squeeze?

Graham Davis is a Professor Emeritus in the Division of Economics and Business at the Colorado School of Mines, and consults in mine and project valuation for several large mining companies. Professor Davis also has significant experience as an expert witness in litigation involving mine valuations and damages from temporary takings. At the Colorado School of Mines, Professor Davis taught a range of courses including applied microeconomics, mineral and energy asset valuation, and research methodology. He has a Ph.D. in Mineral Economics from Pennsylvania State University, an MBA from the University of Cape Town, and a BS in Metallurgical Engineering from Queen's University.

Professor Graham Davis Professor Emeritus, Division of Economics and Business, Colorado School of Mines

Jay Okey enjoys working with people to better understand risk assessment challenges in a messy world. He served as an intelligence analyst with the CIA and the National Intelligence Council for 35 years, helping senior US decision makers grapple with national security risks and opportunities on a wide variety of issues and regions across an arc of history running from the Cold War to COVID. Among various roles, he has worked high-priority country accounts, helped produce the US Intelligence Community's 20-year strategic assessment known as "Global Trends," led analysis for an innovative open-source analytic startup, and served as the chief of CIA's alternative analytic unit challenging key assumptions to hunt for strategic surprises. He currently engages with SAIC's simulation exercise group, teaches sessions at the University of Washington Jackson School of International Relations, and offers his own services through Three Think consulting on risk assessment, strategic surprise, alternative analysis, scenarios, and effective writing for decision makers.

Jay Okey

Patrick Sobecke is a senior mining consultant at Stantec with a diverse background spanning operations, engineering, corporate strategy, and change management. He has 20 years of experience in underground and surface coal, surface metals, and equipment sales and maintenance. He enjoys the challenge of continuous improvement and understanding and attacking the root cause of any problem, over treating the symptoms. Before joining Stantec, Patrick held roles at Accenture, RPM Global, and various mining companies. He has a BS in Mining Engineering from Virginia Tech

Patrick Sobecke Senior Mining Consultant, Stantec

Large Scale Demonstration and Deployment Investments in America’s Clean Energy Supply Chain

DOE's newly launched Office of Manufacturing Energy and Supply Chains (MESC) has been given the charter of advancing the domestic footprint in critical materials and supply chains across the clean energy spectrum. With recent investment in the battery supply chain, and upcoming solicitations in other areas, we are working to understand the critical gaps in our domestic supply, and investing in those gaps to increase economic impact and domestic resilience.

Samm Gillard is a technical project manager for the U.S. Department of Energy's (DOE) Vehicle Technologies Office (VTO) and a supply chain manager in the newly established Manufacturing Energy and Supply Chains Office, where he leads research, development, and deployment projects aimed to advance low cost, secure, and clean energy technologies for transportation and increase the U.S. footprint in the battery supply chain. Within VTO, he manages several projects for the Battery R&D team, and in MESC leads the Bipartisan Infrastructure Law programs. His areas of responsibility include lithium-ion battery recycling, extreme fast charging, and leads multiple initiatives for the Federal Consortium for Advanced Batteries. Most recently, Samm served as the first author on the Biden administration's 100 Day Supply Chain Review for High-Capacity Batteries. Prior to DOE, he worked in battery design and supply chain for the Department of Defense, worked for the U.S. Patent and Trademark office as a patent examiner in batteries and fuel cells, and served in the military. He has a degree in Materials Science from the University of Maryland.

Samm Gillard Supply Chain Development Manager, U.S. Department of Energy (U.S. DOE)

SESSION RECORDING

Mine Project Finance and ESG

Mine finance projects have typically included the role of Independent Engineer to act as technical advisor to the lenders. The concept of Environment, Social, and Governance (ESG) has been part of project finance as long as there've been large multinational banks involved. Currently we see some major banks backing away from mine project finance for precious metal mines in favor of green energy projects like lithium, graphite, copper, nickel, and cobalt. The presentation will review some social mitigations that also increase the carbon footprint. How do we weigh the impacts? What is the future role of ESG in Mine Project Finance.

Rick Lambert is Technical Director, U.S. Mining Advisory for SLR Consulting and is responsible for operations of the company's U.S. mining consulting practice. He is a senior mining executive with more than 40 years of experience in all aspects of mine development from permitting to closure. His experience includes development and operation of open pit mines, start-ups, preparation and implementation of feasibility studies, due diligence, M&A, and management consulting. He was employed by Fortune 500 mining companies for the first 17 years of his career, including Phelps Dodge, Kennecott, NERCO and Exxon Minerals. Since then, he has been providing mining contracting and consulting services. He's been involved with over 120 mining properties around the world. He's led teams of mining experts in reserve audits for major mining companies and has been involved as the independent engineer on many large mining project financings over US$1 billion (Esperanza, Antucoya, Caserones, Quebrada Blanca, and Constancia).

Rick Lambert Technical Director, U.S. Mining Advisory, SLR International Corporation

SESSION RECORDING

Mineral Supply Chain Risks Start with Exploration

Access to land/geology and risk capital, technology, government, social acceptance, skilled people, markets, and time are components of overall risk that work against developing connected supply chains for critical minerals. The discussion will focus on the upstream, exploration /discovery end of the supply chain. The ability to feed the critical mineral supply chain necessary for the “Electric Economy” starts with mineral discovery and leads to mine production. Optimistically, if these events were to occur without the regulatory framework, a timeline from exploration to mining would be in the range of 5-7 years for each mine. With government regulation, the timeframe stretches to about 9-12 years. Adding time for public comment, citizen concern and legal battles increases this stretch to 15-20 years or never! Given liberty to explore, economic geologists have historically made sufficient economic discoveries to satisfy market demand. However, without radical changes to shorten timelines from discovery to production to market, the ambition to achieve society's desire for an Electric Economy cannot be realized by 2030, 2050 and probably not by 2100!

Robert W. Schafer is a Registered Professional Geologist with +30 years international experience exploring for mineral deposits and identifying, evaluating and structuring business transactions globally having worked in more than 80 countries on all continents. Mr. Schafer is an active member of SME (President 2020-2021), the PDAC (President 2015-2016), the CIM (President 2013-2014) and the Mining and Metallurgical Society of America (MMSA – President 2005-20066). He was a member of the Board of Governors for the US National Mining Hall of Fame and the Board of Directors of the Canadian Mining Hall of Fame. He is the only person to hold such leadership roles in both the USA and Canada. Mr. Schafer is the recipient of the William Lawrence Saunders Gold Medal from AIME, as well as the Daniel C. Jackling Award and Robert A. Dreyer Award from SME for technical achievements and leadership in the mining industry during his career. He earned his BSc and MSc degrees in Geology and in Mineral Economics and completed studies toward a PhD in Economic Geology. In addition, he completed the Executive Management program at Stanford University. Mr. Schafer is a Certified Corporate Director (ICD.D) and a Registered Professional Geologist in the States of Wyoming and Utah. He is founder and CEO of Eagle Mines Management and is a member of the Board of Directors of select mining companies.

Robert W. Schafer Eagle Mines Management

SESSION RECORDING

Cost Estimating Through the ESG Lens

Cost estimates are important at every stage of a mining project's life, as they provide a means for making decisions and an indication of whether a project has the potential to be profitable…i.e. successful. Profitability, of course, is no longer the only measure of a mining project's success. We must now consider how a project appears through the relatively new lens of environmental, social, and governance (ESG) imperatives. This presentation provides several points of consideration to help us better understand ESG, with the special focus of its effects on both mine costs and the estimating process itself.

Brad Terhune is a senior geologist and cost analyst at Costmine, where he estimates the costs and analyzes the economic potential of proposed mineral development projects from early exploration through prefeasibility stage. He is also responsible for key mine equipment and supply cost databases. Prior to joining Costmine, Brad supervised and carried out mineral exploration efforts for numerous clients in a variety of geological settings in North America and Africa. Brad holds a Bachelor of Science Degree in Geology and Geophysics from the University of Missouri – Rolla and a Masters of Science Degree in Geology and Geological Engineering from the South Dakota School of Mines and Technology.

Brad Terhune Senior Geologist and Cost Analyst, Costmine, InfoMine USA, Glacier Resource Innovation Group

SESSION RECORDING

Opportunities and Challenges for an Off-World Mineral Resource Economy: A Roundtable Discussion

Presently, NASA is collaborating with commercial and international partners to return humans to the lunar surface as well as developing plans to establish the first long-term human presence on the Moon. Successful development of human outposts and other critical surface infrastructure will depend on mining the local mineral and volatile resources to achieve a sustainable human presence on the Moon. Significant work is underway through a NASA-USGS partnership, as well as other international space agencies to understand and plan for resource prospecting, mining and utilization. Results of these efforts could create new opportunities for public-private partnerships with mining industries to leverage their experience and expertise with mining technologies that are being used in extreme environments and remote locations, similar to conditions in the lunar environment. In this session, we will discuss the opportunities and challenges for space resource mining and the critical steps needed to enable a sustainable Space Resource Economy.

Allison F. Zuniga, NASA Ames Research Center, Strategic Partnerships Office. Allison Zuniga presently serves as Project Development Manager for Commercial Space Initiatives at NASA Ames Research Center's Strategic Partnerships Office. During her tenure of over 30 years at NASA, she has worked as Aerospace Engineer and Project Manager on several Space Transportation and Space Science missions including NASA's Artemis Space Launch System and Orion Spacecraft, Space Shuttle Program, International Space Station, Lunar Atmosphere and Dust Environment Explorer (LADEE) mission, NASA's Commercial Orbital Transportation Services (COTS) and Commercial Crew Programs. She has a BS in Aerospace Engineering from Syracuse University; an MS in Aerospace Engineering from USC and an advanced graduate degree from Stanford University.

Allison F. Zuniga Project Development Manager for Commercial Space Initiatives, NASA

SESSION RECORDING

Anthony Colaprete is a Planetary Scientist at the NASA Ames Research Center. Dr. Colaprete has led or participated in several flight projects, including being PI and Payload Manager for the LCROSS mission and the PI and Instrument Manager for the LADEE UVS instrument. Currently Dr. Colaprete is the PI for the NIRVSS instrument, an instrument manifested on the Astrobotic Peregrine lunar lander Mission-1, a Co-I on the LunaH-Map EM-1 cubesat mission and the Mastcam-Z Mars 2020 instrument, and the lead Mission Scientist for the Volatiles Investigating Polar Exploration Rover (VIPER) lunar rover mission. Over the last decade Dr. Colaprete has worked to migrate terrestrial resource exploration techniques and principles to lunar and Mars resource exploration, developing an "applied planetary science" framework that bridges the gap between science, exploration, and technology.

Dr. Anthony Colaprete Planetary Scientist, NASA

Bruce Pittman is the V.P. of Development at Skycorp, Inc. and is a co-founder of the Space Portal Office at the NASA Ames Research Center. He is also a co-founder and CEO of the not-for-profit, Future Frontiers Institute, and a member of the Board of Directors of the National Space Society. Bruce has over four decades of experience in aerospace and high technology system development. He served as a civil servant at NASA Ames for the first 11 years of his career (working in planetary exploration and airborne and space based infrared astronomy). He then transitioned to the private sector where he worked as a system engineering and project management consultant on large complex systems with clients both in government and industry including NASA. Bruce helped launch several startups including SpaceHab and Kistler Aerospace and is a regularly invited speaker at numerous conferences, often giving keynote addresses on space development in the U.S., Europe, and Asia. Bruce returned to NASA Ames in 2005 as a contractor to help found the Space Portal. Bruce has a BS in Mechanical/ Aerospace Engineering from U. C. Davis and a MS in Engineering Management from Santa Clara University. He has authored or co-authored over 50 papers on technology, management, and business topics in aerospace and high technology. Bruce has also been a member of the adjunct faculty in the Graduate Engineering School at Santa Clara University for 35 years. His numerous career awards include the NASA Exceptional Public Service Medal in 2011 for "exceptional leadership in pioneering the development of commercial space for public benefit."

Bruce Pittman V.P. of Development, Skycorp, Inc. and co-founder of the Space Portal Office, NASA

Dan Rasky, Ph.D. is a NASA Senior Scientist and the current Chief of the Space Portal Office he co-founded in 2005. From 2005-2006, Dan was a core member of the NASA HQ Team that established the NASA Commercial Orbital Transportation Services (COTS) program. He was awarded the Exceptional Achievement medal for promotion of partnerships with the emerging and non-traditional space industry in 2006. President George W. Bush conferred on Dr. Rasky the rank of Meritorious Senior Professional in 2007 for sustained superior accomplishment in public service. Dan was also awarded NASA's most distinguished recognition for innovators or the "Inventor of the Year" award in 2007 and the "Government Invention of the Year" award in 2009 for his SIRCA and PICA heat shield innovations. PICA enabled the NASA Stardust comet sample return mission, the fastest entry ever at Earth of a human-made object and is currently on display at the National Air and Space Museum in Washington, DC. PICA also enabled the Mars Science Laboratory and the Mars 2020 missions which put the Opportunity and Perseverance Rovers on Mars, as well as the current NASA Osiris-Rex asteroid sample return mission. In 2008-2009, Dan worked with SpaceX to develop the thermal protection systems for their Dragon capsule which is flying PICA as its primary heat shield. Formerly Chief for the Thermal Protections Materials and Systems Branch at NASA Ames, Dan is an internationally recognized expert for space thermal protection and entry systems. He was selected for a series of interviews for his "…breakthrough innovations and answers to complex challenges" viewable on NASA's official Knowledge@NASA YouTube Channel. Prior to NASA, Dan worked for a small aerospace company, Acurex, conducting R & D contracting work for the Air Force.

Dr. Dan Rasky Senior Scientist and the current Chief, Space Portal Office, NASA

Colin Williams is Acting USGS Mineral Resources Program Coordinator, on detail from his position as Director of the Geology, Minerals, Energy, and Geophysics (GMEG) Science Center at the USGS Moffett Field, California campus. The USGS Mineral Resources Program provides objective, credible, and reliable scientific information on the origin, distribution, quantity, and quality of nonfuel mineral resources, assesses mineral potential, informs the nation on global mineral supply-demand and materials flows, and characterizes the environmental impact of development. The GMEG Science Center pursues geologic mapping, energy and mineral resource assessments, landslide and earthquake hazards studies, and climate change investigations throughout the western United States. Previously he served as Chief of the Geothermal Resource Investigations Project, with responsibility for leading a team of USGS employees in assessing the geothermal energy resources of the United States and conducting research on improved methods for characterizing and evaluating geothermal resources. His primary research interest is in measuring and modeling the flow of heat and fluids through the Earth's crust and using those measurements to understand hydrothermal processes, earthquakes, and groundwater flow. Colin has a BS in Engineering from Harvey Mudd College, an MS in Mechanical Engineering from UC Berkeley, and an MPhil and PhD in Geophysics from Columbia University.

Colin Williams Mineral Resources Program Coordinator, U.S. Geological Survey (USGS)

A Deeper Understanding of ESG for Better Management and Investment Decision-making

ESG is more than just the latest term for what the mining industry has been doing for years: going beyond compliance, engaging communities, and seeking the nebulous social license. ESG risks can threaten the ability of an operator to deliver minerals to the marketplace on its planned timeline or in the amounts anticipated. ESG encompasses a multitude of factors that may vary considerably depending on mine location, size, commodity, and lifecycle stage. A deeper understanding of ESG allows better decision-making and risk management, both for the operator and investor. ESG scores are important signposts and should be underpinned by a robust ESG risk management program. Operators incorporating material ESG issues and risks into their business planning are better able to manage risks that could increase costs or impede production. As a result, investors and management with a deeper understanding of ESG can make more fulsome assessments of the potential risks involved with each mining facility.

Anne Williamson is an industry leader in the development and implementation of sustainability and environmental programs in the global engineering and mining businesses. Currently with WSP USA, Anne's career has spanned from greenfield exploration to compliance and mine permitting, to executive leadership. She has created and managed environment, sustainability, and enterprise risk management programs, and held sustainability and technical leadership positions with mining companies and technical consultancies, including Phelps Dodge, Twin Metals Minnesota, URS, and Wood. She has created trusting working relationships with communities, indigenous groups, labor organizations and regulatory agencies. She served as a part of MMSD, the precursor to ICMM. Anne currently has the honor of serving as an SME director-at-large. She has served on the board of directors and as Vice President of the Mining Minnesota trade association, and as board advisor to Jobs for Minnesotans, a coalition of industry, labor, and municipalities. She holds a Bachelor's and Master's degrees in geology.

Anne L. Williamson Vice President Global Sustainability, WSP USA

SESSION RECORDING

Progress Toward Net Zero: The State of Play

In this presentation, Mark Fellows will outline the progress made so far - and the gap still to be filled - toward the goal of net zero carbon emissions from the mining sector. He will present a quantified global view of emissions intensity for the major commodities, and will also highlight the financial, technical and strategic issues which miners of all sizes will need to address.

Prior to co-founding Skarn in 2016, Mark Fellows led the metals & mining consulting business at SNL Financial/S&P Global. Skarn is a mining sector data and research business, quantifying and benchmarking ESG impacts across the sector at the asset level. Mark's career started in 1987 as an exploration geologist with Anglo American Corporation in Southern Africa. He went on to work for junior diamond and gold explorers in Africa. He subsequently spent 13 years at Brook Hunt (now Wood Mackenzie). From 2009 Mark was Managing Director of GFMS Mine Economics Limited, a business co-founded with GFMS Limited, which was sold to Thomson Reuters in 2011.

Mark Fellows Co-founder & CEO, Skarn Associates

SESSION RECORDING

Reducing Regulatory Risks in Partnership with Indigenous Communities

With near global acceptance of the United Nations Declaration on the Rights of Indigenous Peoples, the commitments under the Paris Agreement, the ESG movement and the responsible investment climate we find ourselves, it has become quite evident that the inclusion and support of Indigenous peoples in resource development is no longer nice to have but critical to obtain. Critical mineral strategies in Canada must recognize and respect the lands upon which the resources are found. Without the support of land owners and rights holders, the imperative to develop these minerals will be held hostage to opposition and regulatory delays. ESG programs which do not incorporate indigenous knowledge and worldviews, risk non acceptance and public scrutiny. UNDRIP has given us the tools to not only promote reconciliation of interests but to also implement strategies to achieve consensus with Indigenous peoples as to how projects should be developed on Indigenous lands. This presentation will review the legal and business case for Indigenous participation and highlight best practices for inclusion and obtaining consent.

Sandra Gogal is a partner in the Aboriginal Law Group at Cassels Brock & Blackwell LLP. A strategic thinker and trusted advisor on matters relating to Aboriginal and environmental law, Sandra offers a combined 25+ years of experience – both in-house with the Government of Ontario and in private practice – providing legal advice to clients in the resource sector across Canada. An astute negotiator, she has navigated several successful commercial arrangements, settlements, impact and benefit agreements, and partnerships between industry and First Nations. For her work, Sandra is ranked as a leader in her field by Best Lawyers and Chambers.

Sandra Gogal Partner, Aboriginal Law, Cassels Brock & Blackwell LLP

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Kiril Mugerman is a well-travelled young entrepreneur that grew up in 4 countries and speaks 5 languages. In 2001 he settled in Montreal, Quebec where he received a bachelor’s degree with Honors in Earth and Planetary Sciences and Geology from McGill University. In 2008, he joined Gold Fields, the 4th largest gold producer at the time, to work on advanced stage exploration projects internationally including West Africa, central Asia and Latin America. In 2011, he returned to Montreal to join Industrial Alliance Securities as a mining analyst in the industrial minerals sector focusing on rare earth elements, graphite and potash. In 2014, Mr. Mugerman joined Geomega and in 2015, he was nominated President and CEO to transition towards a mining & technology company. In March 2017, as part of the restructuring process, Mr. Mugerman created Kintavar Exploration to conduct exploration activities for non-rare earth assets that were previously owned by Geomega. His team is now actively developing a base metals camp in central Quebec. Currently, Mr. Mugerman leads both public companies and is advancing Geomega to build the first rare earths refining and recycling plant in Quebec.

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Mine Risk Planning includes Closure & Beyond: A Roundtable Discussion

The risks associated with mine closure and post-closure management, as the last parts of the mining life cycle, are often minimized during the development planning phase of a project and are typically not considered in as much detail in the investment decision-making process. This roundtable with five international mine closure experts tackles some of the most significant risks associated with mine closure including long-term, possibly perpetual, post-closure management, challenges in estimating closure costs, and how improving standards and guidance can assist companies in mitigating closure risks and improve transparency with stakeholders. With the global experience of these experts, the discussion also addresses challenges with planning and implementing closure in various jurisdictions around the world.

Jeff Parshley has more than 35 years of environmental and closure experience in the mining industry. Jeff specializes in closure planning and closure cost estimation. In addition to doing planning and analysis work for mines, he has been involved in the management of abandoned mines and the implementation of closure works at several mines in the western United States. Having worked with legal and policy aspects of mining projects since his early career, Jeff regularly contributes to World Bank and IFC compliance projects and is one of SRK's most experienced mine closure strategists and regulatory specialists. He has helped develop regulatory guidelines for mine closure and closure cost estimating and has also helped clients develop corporate standards and guidance documents for closure planning, implementation, and cost estimating. Jeff is a regular mine closure and closure cost estimating instructor for in-house workshops conducted for mining companies and US government agencies. He served as SRK's global group chairman from 2016 to 2021.

Jeff Parshley, P.G., C.P.G. Corporate Consultant (Mine Closure), SRK Consulting, (U.S.), Inc

Dr. Hutchison has over 45 years of experience in technical and financial risk management, mining environmental and remediation engineering, mine closures and in value contracting. He has a Ph.D. in Civil Engineering and has been responsible for permitting, planning, design, and construction management of mining waste and water management, environmental and infrastructure projects. He has planned and developed mining waste and water management, infrastructure, closure projects, ground and surface water supplies, groundwater remediation, directed environmental assessment and permitting activities, and dealt extensively with flood studies and flood control projects.

Ian Hutchison, Ph.D. President, Hutchison Engineering Inc

Michael Nahir, P.Eng., M.Eng., is a civil and environmental engineer with extensive experience in project management, design, and execution of mine site closure projects in Canada. Michael is Parsons’ Director of Mining Environmental Management responsible for the various mining programs for Parsons. Parsons is the construction manager for two of the largest abandoned mine closure projects in Canada. Previously he worked for the Canadian federal government as Engineering Principal and Oversight of all Closure Design, which provided technical oversight and direction to all federal abandoned mine closure projects. Michael has led the closure planning and executing of numerous closure projects throughout Canada. He was the international project manager in the development of the International Standards Organization (ISO) Mine Closure and Reclamation Standard.

Michael Nahir, P.Eng., M.Eng. Director, Mine Closure and Reclamation, Parsons Corporation

Dr. Björn Weeks, P.Eng is the Senior Advisor for Mine Closure at Teck Resources Ltd, where he provides strategic leadership and technical direction on all closure related matters. Prior to joining Teck in 2022, Björn was the global lead for mine closure services at WSP/Golder. With over 28 years of professional experience, he has dedicated his career to mine closure. He has worked on the development and execution of mine closure plans around the world, working with many of the world’s leading mining companies. He has also developed international mine closure guidance documents, including the ICMM’s 2019 Closure Good Practice Guide, and APEC’s 2018 Mine Closure Checklist for Governments. He is the current Co-Chair of ICMM’s Mine Closure Working Group.

Dr. Björn Weeks, P.Eng. Senior Advisor, Closure, Teck Resources Ltd.

Dirk van Zyl is Professor Emeritus of the Norman B. Keevil Institute of Mining Engineering, University of British Columbia. He is also a Principal Review Consultant serving on a number of Independent Tailings Review Boards for active and dormant mines. He has 45 plus years of experience in mine waste consulting, research and education. About half of the time was spent in academia at multiple Universities in the US and Canada and the other half in consulting in mine waste for various minerals and in a range of climates. Dirk has been working on mine closure aspects for the last 30 years.

Dirk van Zyl Professor Emeritus UBC and Principal Reviewer

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