Thinking Past the Next Bump:
Where is Global Mining going?

MEMS 16th ANNUAL CONFERENCE
Golden, Colorado, April 18-20, 2007.

Wednesday, April 18th, 2007

Pre-Conference Workshop (9:00 - 2:00): Becoming a Knowledgeable User of Metal Price and Consumption Forecasts. (Led by Dr. John Cuddington, Coulter Professor of Mineral Economics, Colorado School of Mines).

The workshop will discuss alternative methods of forecasting commodity prices and quantities (production, consumption, changes in stocks, etc) using times series models, reduced form equations, and structural models. After an overview of the different forecasting approaches and their strengths and weakness, there will be an opportunity to learn the basics of the EViews econometric modeling and forecasting software package for carrying out such forecasts. This will be done in a PC lab where participants gain 'hands on' experience working with the software. The workshop is designed to help participants become knowledgeable users of various types of forecasts, not economic forecasters.

Tour of the Coors Brewery (2:00 -4:00)

Opening Reception and Keynote Address (6:30 - 8:30pm)

Session 1: Long-Term Trends, Cycles and Forecasting Models (Chaired by Shane Streifel, World Bank, Washington DC).

The opening session will set the context for the conference by providing an overview of past long-term trends and cycles in the mining and metals sector, as well as forecasts of future developments in the industry. It will also provide an overview and update of various forecasting methods and models currently in use.

Session 2 - Thomas F. Torries Student Paper Award.

MEMS sponsors an annual student paper competition (see www.minecon.com). The winning paper will be presented. President's Lunch, Presentation of W.A.Vogely MEMS Award and address by the this year's recipient

Session Three: What is a Fair Tax Regime? (Chaired by Paul Mitchel, Secretary General, International Council of Mining and Metals, London)

The role of mining companies in community development and investment is becoming a significant issue for the industry. This session will examine the objectives for taxation, the linkages between development outcomes and taxation regimes, and the role of tax in investment patterns. MEMS Dinner and Key note Speaker, Dr. Chris Gilbert

Session Four: Markets and Trading. Chaired by Lisa Morrison, Managing Consultant, CRU Strategies, Kennett Square, PA).

The ability for producers and consumers to utilize both financially and physically settled markets to mitigate exposure to price risk has been a feature of the commodities industries for some time. During the last several years, as information has become more quickly disseminated and investors have become more sophisticated, new market instruments have emerged. In this session, we will examine some of these new instruments and explore the impact they have had on management decision making and price discovery.

Session Six: Mergers in the Mining Sector. Chaired by Brett Humphreys, Managing Director, Risk Capital, New York.

In light of the current round of intense merger activity, this session and explore differences in national review processes, efficiency gains, and the decision to payout shareholders vs. investing in new capacity.