20TH ANNIVERSARY COMMEMORATIVE EDITION AUGUST 6-8, 2012 DIGGERS&DEALERS A NEW ERA BEGINS Diggers&Dealers 4 20-year anniversary edition WESTBUSINESS Resources To say it has come a long way would be a massive vital to WA understatement. ■ Norman Moore in the industry is with the to play an essential part in WA’s Exploration Incentive Scheme’s resources industry, as it has This year will celebrate 20 years (EIS) flagship co-funded drilling done for more than 110 years. since the first Diggers & Dealers program. Another crucial part of the conference. The State Government has industry’s longevity is To say it has come a long way extended funding for EIS until maintaining high safety would be a massive the end of June 2016 and a total standards. Nowhere is this more understatement. It is not just of $138.1 million will have been apparent than in the Goldfields. the conference that has come a committed to exploration The commitment the long way, but the very region incentives since its start in 2009. Goldfield’s mining community this event celebrates — the It also means the co-funded has shown to the annual Goldfields. drilling program will continue underground and surface mine Back in 1992, when Diggers & offering twice-yearly funding rescue competitions is just one Dealers was first held, the grants. In the last round of indication of this. Goldfields’ resources industry co-funded drilling, 22 of the 56 The State Government is was worth $1.9 billion. Last year exploration projects to receive committed to improving safety it soared to $8.3 billion, with funding were Goldfields-based. in the industry. The reforms we gold alone worth $5.6 billion. Beadell Resources’ Tropicana have undertaken address how I have no doubt that the East project and West Musgrave the Department of Mines and Goldfields, and Diggers & prospect have both benefited Petroleum, as the regulator, Dealers, will continue to build from previous EIS funding and works with industry to save on this remarkable success. it goes to show that there is still lives and reduce injuries. However, it is important we plenty of gold (and other Twenty years of Diggers & make the most of these resources) in the Goldfields just Dealers is a tremendous opportunities. One way the waiting to be discovered. achievement and no doubt this State Government is Programs such as EIS will year’s conference will continue Confidence in future: Mines and Petroleum Minister Norman Moore. encouraging further investment ensure the Goldfields continue to build on that success. Crazy idea There were very few forums for these activities to that grew occur. ■ Kate Stokes few forums for these activities industry represents. to occur and as such it required Unfortunately, Geoff passed Twenty years ago, my late enthusiasm and drive to make away in 1997 while Diggers was husband Geoff had a concept the first Diggers & Dealers in still evolving but I have no doubt where he envisaged the cream of Kalgoorlie happen. that he would be exceptionally the resources industry meeting Geoff used stockbroker David proud of the manner in which in Kalgoorlie annually to Reed to help in getting Diggers has been embraced, and promote and discuss activities companies involved and that the whole industry is in which companies were Graham Thomson to assist with represented from the involved. the logistics. international mining majors to The idea was to create an The first year about 125 people the explorers, the brokers and environment where all players, attended. investors, and to the suppliers from brokers to investors, This year we will host more and professionals, all with a miners, suppliers and than 2200 people in Kalgoorlie- common goal of promoting their professionals, could develop Boulder. industry. That was what Geoff relationships, do deals and Despite current uncertain was passionate about and that is generally advance the markets, industry enthusiasm the reason our family remains opportunities and dreams that and the Diggers can-do attitude committed to facilitating the many in the resources’ sector will facilitate an environment forum. have. where the broad industry will I have no doubt that Diggers & It was in some ways a crazy find deals, raise funds and Dealers will remain in idea, as apart from technical generally advance the positive Kalgoorlie Boulder for many conferences, there were very cause that the resources years to come. Proud involvement: Kate Stokes reflects on two decades. Picture: Bill Hatto Diggers&Dealers 5 20-year anniversary edition WESTBUSINESS Why Diggers is the place to be ■ Peter Klinger Business editor It’s easy to be critical of some Nowhere else in Australia do you get aspect or another of Diggers & Dealers. Heck, I have been in the such a big ensemble of mining industry past — a lack of news thanks to continuous disclosure regimes, insiders, supporters and onlookers. an overly-tight presentation schedule and too few world mining leaders attending as in the front bar of the Palace, Diggers is special to many in the speakers. there no longer is a segregation media. It is here, in the heart of Yet every year I am one of 50 between mining company the Goldfields, where many of or so media cohorts who return bosses, fund managers, us, including me, first got their to Kalgoorlie-Boulder because if well-heeled private investors, lucky breaks, working and or you want to understand the analysts and members of the living in Kalgoorlie-Boulder mining sector in Australia, you media pack. Friendships are surrounded by some of the most need to be at Diggers. struck and relationships famous mines in Australia. Nowhere else in Australia do renewed, seeds are sown for Tania Winter, Neale Prior, you get such a big ensemble of deals of the future as well as Ron Berryman, Matt mining industry insiders, story ideas. Chambers, Michael supporters and onlookers as at And that it why attendance at Vaughan, the late but not Diggers. An ensemble captive to Diggers is such a worthwhile forgotten Kevin Andrusiak, the confines of the conference exercise. Andrew Burrell, Kate and its surrounding drinking And which is why each year Askew, Russell Woolf holes like nowhere else in the media room is packed more and Sarah-Jane Tasker Australia, or maybe the world. tightly than the year before, to name but a few have It forces networking. It with local, national and spent time in the demands striking up increasing numbers of Goldfields capital. For acquaintances. international media many of us, Diggers & It ensures all and sundry are representatives. Dealers is a return to on a level footing. Late at night, There is another reason where it all began. Keen supporter: WestBusiness editor Peter Klinger. Picture: Simon Santi At The University of Western Australia we are harnessing the powerful capability of our world-class researchers and facilities to deliver innovative solutions Achieve that meet the challenges in the energy and minerals sector. world-class energy and From world-class engineering solutions to high-performance multi-million dollar minerals solutions infrastructure and unique experimental technology, our University supports cutting-edge research across the depth and breadth of resource-related issues. The UWA Energy and Minerals Institute (EMI) is the gateway for industry to engage with some of the best experts in the fi eld. EMI facilitates the University’s energy and minerals research partnerships – addressing industry needs by bringing together the right expertise. If you’re passionate about tackling energy challenges to create life-changing benefi ts for the global community, join us to achieve international excellence. emi.uwa.edu.au Diggers&Dealers 7 20-year anniversary edition Remember 1992 WESTBUSINESS Way back where it all began It’s been two decades of highs and lows and high jinks at the State’s premier mining conference. Neale Prior delves into the archives of The West Australian and the Kalgoorlie Miner for an insight into a remarkable era. Winner: John Jones, pictured with Rod Russell and Keith Biggs, won the deal of the year award over the Boulder Block Hotel sale. fter evolving from the Diggers’ Bash in DIGGERS Kalgoorlie and Founder: Geoff Stokes and his wife Kate. Aincorporating annual There’s nothing like &DEALERS Diggers & Dealers awards from hold from the start at what was recognition of his contribution LIFTOUT Perth, the Diggers & Dealers then called the Diggers & to Mr Jones’ already sizeable a good resources Stories: Neale Prior conference had a relatively Dealers Bash. bank balance, KCGM executive Design: Andy Piggford humble start in February 1992. The theme for the conference Ian Burston was given the boom to kick-start Cover: John Henderson Australia was just emerging was “let the boom begin”, and community contributions award from Paul Keating’s recession there was no shortage of for his commitment to the new our stuffed Aussie For up-to-date news from we had to have and the confidence about which sector Hannans North tourist mine. Diggers & Dealers 2012 reputation of WA business had of society was best qualified to Mr Manners won the industry economy. check out WestBUSINESS been damaged by the events of lead the nation back to wealth. contribution award for his work in The West Australian or at the late 1980s and early 1990s. There was broad agreement with the Association of Mining Geoff Stokes thewest.com.au/business Yet some green shoots were with the sign at the Palace and Exploration Companies. emerging in investment markets Hotel: “If this country has a even as the WA Inc scandal was future it depends on the being unravelled at a royal continuing mining of gold and commission in Perth. the control of the country by Some 200 delegates, including resources men — we can’t trust six stockbrokers and two the politicians any longer.” merchant bankers from Kalgoorlie stalwart Ron interstate, attended the event, Manners picked up on this along with international gold theme and the fact that a shares investor Willie McLucas.