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Conference Proceedings

MINVAL 89, Mining and Petroleum Valuation 1989, Sydney September 1989

Conference Proceedings

MINVAL 89, Mining and Petroleum Valuation 1989, Sydney September 1989

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Expert Reports and NCSC Policy Release No. 149

It's my privilege to welcome you here this afternoon on behalf of the Sydney Branch of the
Australasian Institute of Mining and Metallurgy. This is a most important gathering. You, the
delegates, represent what is probably the most influential cross-section of the mining investment
community and the oil and gas investment community to meet as a group during the last
decade. We are meeting today and tomorrow to review two related issues that will have far
reaching implications for the effective use of capital by the natural resources sector in the
1990's. The views which will emerge over the two days will almost certainly 'influence the
availability of new capital to the companies in the natural resources sector for the decade
ahead. The two principal themes of Minval '89 are, first, the valuation of mining and oil and gas assets
and securities, and second, disclosure and reporting requirements in the capital markets which
relate specifically to natural resources companies. This conference is taking place at a time when further consolidation and rationalisation appears
likely within the mining industry. Although the base metals and other sectors of the industry
are enjoying profitability not seen since the early 1980's there is caution about committing to
new capacity which could bring about a return to the low prices and excess supply which
prevailed during much of the last ten years. These conditions have led to increased takeover
activity within the mining industry overseas, and similar trends are as evident here in Australia
as they are elsewhere. Recognition of value is therefore likely to become more important than
ever before in preserving shareholder wealth, for creating new wealth and for preserving the
financial health of the resources industry in the future. Valuation therefore is the first theme of
the conference.
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  • Published: 1988
  • PDF Size: 0.058 Mb.
  • Unique ID: P198908002

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