Canada - English

Agenda 

Day 1 – Wednesday, September 17, 2014

Time

Session

4:00 pm – 7:00 pm

Networking Reception

 

Day 2 -  Thursday, September 18, 2014

 

Time

Session

7:00 am – 8:00 am

 

7:00 am – 8:00 am

Women in Mining networking breakfast

 

General breakfast & registration

8:00 am – 8:05 am

Forum Welcome

8:05 am - 8:35 am

Keynote Address:

Nicholas J. Holland

Chief Executive Officer, Gold Fields Limited

8:35 am – 9:05 am

Plenary session: Economic Outlook
The economic environment continues to be challenging for the mining industry. Market, currency, and commodity price volatilities introduce uncertainty and risk. Many external factors other than demand and supply impact the industry, yet the underlying economic fundamentals remain important. Doug Porter, Chief Economist & Managing Director, BMO Financial Group, will share his insight into the economic environment and his views on the future outlook.

9:05 am – 9:35 am

Plenary session: Commodity Outlook
It continues to be a volatile time for commodity prices.  We welcome Martin Murenbeeld, Chief Economist, Dundee Capital Markets, and will hear his views on the outlook for gold, and how recent events may impact the outlook for 2015.

9:35 am – 10:35 am

Plenary session: The changing role of the CFO & Audit Committee
What are the most difficult challenges facing today’s finance executives and how are they meeting them?   What are the challenges facing Boards, and how does that differ from Management?   Our panel of experts have seen both sides and will be able to share their unique perspectives with the audience on a range of topics.

10:35 am – 10:55 am

Networking Break

10:55 am – 11:55 am

Breakout session #1:
One Asset, One View - Next Generation Asset Management
The global mining industry is facing one of the most challenging business environments it has known for a long time with declining commodity prices and increasing complexity in mining operations. Achieving sustainable, operational improvements in asset management across the value chain during this time will be critical for mining organizations to maintain and enhance margins and deliver long term value to its shareholder. The path to achieving this goal is a challenging one but can bring significant value of focused around asset lifecycle based planning, effective collaboration with equipment suppliers and engineering service providers and suitable use of integrated technology platforms.

 

Our panel discussion will explore some of these activities brining together the views of a number of mining experts and leaders in the area of operational excellence in asset management.

 

Breakout session #2:
Accounting & Reporting Update
For over 20 years KPMG has conducted a survey of financial reporting trends in the mining industry, following the evolution of generally accepted accounting policies.     This session will review the findings from our latest survey of leading mining companies based on reported results for the 2013 reporting season.   Major areas covered will include impairment, and non-GAAP measures.     We will also include an update on regulatory issues relevant to both Canadian and SEC filers.

12:10 pm – 1:00 pm

Networking Lunch

1:00 pm – 2:00 pm

Breakout session #3:
Fair Value for Mining Companies
Fair value reporting continues to be particularly common for mining companies as they move throughout the cycle.  After a number of business combinations in the mid-2000’s, many companies later impaired their assets to fair value as a result of declining metal prices and reduced returns.  Today companies are again starting to consummate transactions.  In this session, we will discuss fair value methodologies and approaches to determining reasonable and supportable assumptions.  We will also discuss areas of focus for both auditors and regulators.

 

Breakout session #4:
Tax Morality & Transparency
Following the financial crisis, there has been a dramatic shift in international tax policy impacting, in particular, multinational corporations in the mining industry. The OECD’s Base Erosion and Profit Shifting (BEPS) initiative has introduced the concept of “tax morality”, while tax authorities, the media, the general public and other stakeholders demand greater transparency for payments made to governments. In this session, we will review the first steps taken by some jurisdictions in response to the OECD’s BEPS report and share general insights into what the future of global tax planning may look like. We will also highlight the key components of the tax transparency regulatory regimes in the US, Canada and the EU, and provide practical guidance implementing the required reporting processes.

2: 00 pm – 2:15 pm

Networking Break

2:15 pm – 3:15 pm

Plenary session: Financing Strategies

Mining is a capital intensive industry. Companies need to be adequately financed in order to “move forward” – complete a drill program, progress a feasibility study, commence construction, complete construction, or finance an acquisition.

 

Many financing options exist. The various options available to a company can be complex with new players entering the market to provide “alternative” sources of capital, and traditional avenues seemed to be closed to many companies. KPMG has brought together a panel with a combination of representatives from sources of capital or industry members who have recently completed financings in various forms, to talk about their experiences and insights.

3:15 pm – 4:15 pm

Closing Plenary: Talent Management and Leadership Development

Continued cost optimization efforts have a unique impact on mining companies’ finance function workforce.  Panelists will discuss the phenomena, and relate how their companies have innovated using strategies in talent management, diversity and inclusion, mobility, leadership development, compensation and more in an effort to retain and motivate talent.

4:15 pm - 4:20 pm Closing Remarks

Registration

Due to the highly popular nature of this Forum, registration for this event is available by invitation-only to senior executives in the mining industry.   Interested participants may contact mining@kpmg.ca for further details on how to receive an invitation.

Contact Us

For all questions regarding KPMG's 2014 Mining Executive Forum, please contact mining@kpmg.ca.

Global Mining Institute

To learn more on KPMG's Mining practice globally, click here.