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ANNUAL REPORT

2016Annual Report and Concise Financial

Report for the year ended 31 December 2016

THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY

THEAUSIMMThe Australasian Institute of Mining and Metallurgy (AusIMM) represents 13,000 individuals working in the global minerals industry and provides leadership and opportunities for minerals industry professionals.The AusIMM was founded in 1893 and provides services to professionals engaged in all facets of the global minerals sector. The AusIMM delivers an ongoing program of professional development services to ensure our members are supported throughout their careers, enabling them to provide high-quality professional input to industry and the community.AusIMM members uphold professional standards, ensuring ethical practice in the minerals industry and are supported by a network of branches and societies in Australasia and internationally.

AusIMM ANNUAL REPORT 2016

As leaders in a global industry, professionals working in the minerals industry are supported by the AusIMM’s network of development opportunities and professional standards.


PRESIDENT’S REPORT 2016

It was a great honour to serve as AusIMM President for 2015 and 2016, during what has been a challenging time for the industry and our members. The rapid downturn in exploration and mine development activity over recent years lead to a significant reduction in professional employment in the sector. In the face of an industry downturn, the AusIMM worked to actively support members experiencing hardship. This support was evident in services available to all members through a renewed focus on free and cost-effective professional development opportunities. The continued delivery of a strong program of conferences and development of technical publications was undertaken to ensure members were given ample opportunity to build their skills and maintain a competitive advantage in a shrinking employment market. The Board also developed member support programs including the Member Assistance Program and related initiatives such as Graduates Engaged and Keep in Touch.These programs and our commitment to supporting members contributed to our decision to approve a budget predicting a significant deficit, however, as the year progressed, it became apparent that further change was required. We could not continue to erode member reserves without further consideration of cost-reduction initiatives. The Board directed management to undertake cost-saving measures and I am pleased to announce that we finished the year in a much more favourable position than anticipated. Please see my report in the Concise Financial Report section of this document for further information. While financial management and member services were key areas for the AusIMM in 2016, we also made some important progress on two special projects fundamental to the ongoing success of the Institute: The revision of the Constitution, led by a Taskforce comprised of eminent Past Presidents; and the revamping of our professional accreditation program. These initiatives have formed a large part of the work your Institute has done in 2016 to advance the agreed strategic mission to ‘Provide leadership and opportunities to minerals industry professionals’.My thanks go to every AusIMM member who has made an active contribution to our Institute during 2016. Our strength as an organisation is in the dedication of our large number of active office bearers playing leadership roles in the operations of the Institute’s Branches, Student Chapters, Societies, Conference and publishing project committees and more. My particular thanks to AusIMM Board members for their hard work and support to me and the membership during 2016. In particular, I would like to thank Past President Geoff Sharrock, who retired from the Board at the end of 2015. His guidance and support during my time as President have been invaluable. I welcome 2017 President Colin Moorhead, who I look forward to working with as he takes over the reins of this most rewarding and humbling role.Congratulations to Dave Clark, Chris Davis and Sara Prendergast, who have been elected to the AusIMM Board for the term 2017 to 2019. Dave was elected following on from fulfilment of a casual vacancy and Sara and Chris’s appointment to the Board commenced January 2017.Further to that I would like to sincerely acknowledge the work and efforts of Michael Catchpole, our former CEO of 9 years standing. He moved the Institute from having just over 8000 members to almost 14 000 and increased the professionalism of our brand. I would also like to acknowledge the leadership shown by Acting CEO Miriam Way and thank her for stepping up during a difficult time and showing that challenging the status quo could yield results.The staff at AusIMM Services deserve our thanks, support and respect for the contribution they make to AusIMM’s many successes. It has been eye-opening to work with them in the role of President and observe first-hand the diversity and complexity of the work they do to allow this Institute to keep delivering for its members.Finally, thanks to every one of you who renewed your membership or joined the AusIMM during 2016. The AusIMM is positioned to continue to deliver the highest value possible to its members and I look forward to contributing to its ongoing growth as Past President in 2017 and beyond.

Rex Berthelsen FAusIMM(CP)President 2015-2016


CHIEF EXECUTIVE’S REPORT 2016

The 2016 year has been one of significant change for the AusIMM and a time of strong focus on member service and value. The year saw the Institute retain 87% of members with a strong focus on providing leadership and opportunities to professionals and students. The Institute worked hard to support all members to stay engaged in the industry and helped to build stronger communities of interest.The 2016 AusIMM Professional Employment Survey results showed a slight improvement in employment of minerals professionals – with 14.1 per cent unemployment amongst Australian-based members compared with 16.2 per cent in 2015. AusIMM’s support in maintaining networks for contact with peers and professional development opportunities became even more valuable to members experiencing hardship and it is wonderful to see so many of our members supporting and mentoring others.While focussing on services to members, and support of those experiencing hardship, we also looked closely at our own operations and initiated changes to support the ongoing efficiency and sustainability of AusIMM Services. I am pleased to have been able to assist with the process to bring the Institute into a more favourable financial position.I am continually inspired by the contributions of AusIMM members across such a huge range of industry and Institute activities. We are indeed an organisation built on the strength of our people and their willingness to share their knowledge and experience with others. It is a testament to the strong feeling of pride and belonging our members have for the AusIMM. While the industry has faced challenging times, our members have banded together to support each other, providing coaching, mentoring, guidance and support for members experiencing hardship. The Institute’s member assistance program (MAP) has also been an important tool in supporting members facing unemployment or underemployment.As Acting Chief Executive, it has been a privilege to support the Board’s vision and strategic plan, and then to work with the Board, all AusIMM communities and our dedicated staff to put that strategic plan into effect.The AusIMM Board maintains a rolling three-year strategic plan, which it updates annually. The latest update of the AusIMM Strategic Plan for 2017-19 will underpin and direct the Institute’s activities for 2017 and beyond. This strategic plan sets long term goals to substantially increase AusIMM’s relevance to members to increase the level of member participation in AusIMM activities and programs.Thanks to all staff who all work very hard to deliver services and opportunities and provide a positive experience for all AusIMM members including our dedicated office bearers. The staffing changes that occurred later in the year have impacted the whole team and I thank them for their professionalism and dedication in continuing to provide services and value to all members. Thank you to all members who have been active participants in and contributors to the Institute’s activities during 2016, you have helped us build on past successes to continue our benefit to industry, communities and professional careers.

Miriam Way MAusIMMActing Chief Executive from 2 September 2016


Rex Berthelsen is a geologist with 25 years AusIMM membership and industry experience in Australia and internationally. He holds a BAppSc (USQ) and PGDipSc (JCU) and is currently studying for a Master of Geostatistics at the University of Adelaide. Rex has held technical and leadership roles within the gold and base metal exploration and mining sectors with companies including Normandy, Nord Pacific, Pasminco, Rio Tinto, Goldcorp and New Gold. He joined MMG Ltd in September 2013 in the position of Principal Resource Geologist. Since 2008 he has worked on mining and exploration projects in Brazil, Mexico, USA and Canada, in addition to 15 years working on projects in Queensland, Northern Territory and New South Wales. He has served on AusIMM committees and Branches such as Cobar Branch as Chairman and Treasurer, Lachlan Branch, the Emerging and Strategic Issues, Women in Mining Committee (WIMnet), Branch Resurrection, Policy and Advocacy, Awards, Nominations, Remuneration, Audit and Risk and Investment committees. His voluntary service also included contributions to the NSW Geological Survey Ministerial Advisory Committee over a 5 year period from 2006. Rex joined the AusIMM Board in 2011 and was elected President for 2015 and 2016.

Alex is a Chartered Professional Engineer and Fellow of the AusIMM. She has two Bachelor of Engineering degrees (Mining Engineering; Mining Geology); an MBA(Finance) and is a Graduate Member of the Australian Institute of Company Directors.Alex’s mining career spans over 25 years in many commodities (gold, copper, lead, zinc, silver, tin, nickel, iron ore and coal) mainly underground but with some open cut. She started with 15 years of on-site operational mine design and management mostly working for Placer Dome APAC (where she was the first female underground mining engineer at Porgera JV PNG and in the first wave of women to obtain a 1st Class Mine Manager’s Ticket). She followed this with over a decade of consulting and regulatory roles (first female WA District Inspector of Mines).Alex is a broadly experienced, networked multidisciplinary professional with experience in life of mine planning, management of mining risk and improving performance in realistic valuations and JORC compliance. She is passionate about the digital transformation of mining and retention of women in the minerals industry.Alex is a member of the AusIMM Board’s Audit and Risk Committee and is a member of three AusIMM Community of Interest Committees (H&S, C&E, Perth Branch). She has been a long term active volunteer mentor for groups like WIMWA and volunteers in high school STEM initiatives. Alex has previous not for profit board experience from Earth Science Western Australia (ESWA) and Advocare Ltd.

Dave has over 22 years’ experience in the minerals sector, including 10 years site-based with Newcrest Mining and Rio Tinto, and for the past 12 years in senior consulting/leadership roles. Dave is currently on the Mining Society committee (four years); he chaired and led a reinvigoration of the NT Branch until the end of 2013, and prior to that was an active Melbourne Branch committee member.

Steve’s mining career spans over four decades. Commencing his career as a prospector he has worked in the fields of exploration and mining geology, business development, and mine management, culminating in his most recent senior role as Chief Operating Officer – Copper Assets Australia for Glencore. He is currently Principal Consultant for CDEK-mining and geological services, he also heads up a coffee roasting and distribution business and Chairs the Mount Isa Water Board.

Geoff’s involvement with the Minerals Institute started in 1968 when he joined as a student member. Geoff has always had an active involvement in the Institute, including being a member of the Sydney, Southern Queensland and, most recently, the Hunter Region Branch, where he was Chair from 2002 to 2012. From 2000 to 2005, Geoff was Chair of the AusIMM’s OH&S Taskforce, which developed the Safety Beliefs and Principles and recommended the creation of an Institute OH&S Award. Geoff Sharrock has a long career in the mining industry that started more than 40 years ago as a geologist working for Planet Oil then at Esso Australia. He then joined Caltex Australia and in 1984 was appointed chief executive of Bayswater Colliery Company in the Hunter Valley. Geoff has been a chief executive of four coal companies in NSW and was instrumental in the formation of the industry-funded Australian Coal Association Research Program (ACARP). Geoff has worked for DuPont Safety Resources as an independent consultant for seven years conducting safety evaluations at mines in Australia, Indonesia and India. Most recently, Geoff was the General Manager of Boggabri Coal in the Gunnedah Basin. Geoff was appointed to the Mining and Petroleum Gateway Panel by the NSW Minister of Planning in 2014. Geoff joined the AusIMM Board in 2011 and was elected President for 2013 and 2014.

Rex Berthelsen FAusIMM(CP) President 2015-2016

Alexandra Atkins FAusIMM(CP) Year 1 of 3, 1st term

Dave Clark FAusIMM(CP) Casual vacancy (beginning November 2015)

Steven de Kruijff MAusIMM Year 2 of 3, 1st term

Geoff Sharrock FAusIMM(CP) Immediate Past President

BOARD OFDIRECTORS 2016


Diana is a metallurgical engineer and professional educator with 30 years’ experience across a range of minerals industry sectors and commodities. She is a regular industry speaker and published author in the area of minerals industry education and graduate professional development. Diana spent her early career in operations, engineering design and process commissioning. This provides a solid foundation in the practical aspects of minerals engineering, which she brings into her education and technology transfer activities. In 2013 Diana was the first female member appointed to the International Mineral Processing Council (IMPC) and she is currently chair of the IMPC Education Commission.Her AusIMM activities have included branch committee roles in North West Qld, Far North Qld and South East Qld and she chaired the Metallurgical Society from 2012 to 2015.

Janine has a Bachelor of Engineering (Mineral Processing) from the University of Queensland. She has 25 years’ industry experience, encompassing executive management, consulting, technical and production roles. She has worked for majors, juniors and service providers in various locations as a metallurgist and encompassing a number of Senior and Executive roles. She has been working as a consulting metallurgist, conducting due diligence, desktop reviews and project management since 2009.Janine has served on the Adelaide Branch Committee of the AusIMM since 2005, as well as several AusIMM conference organising committees, including the International Uranium, Mill Operators’ and MetPlant. Always passionate about the industry and the Institute, she also serves on specialist committees including Ethics, Awards, Merit Based Funding, Remuneration, Nominations, Governance, the Professional Accreditation Taskforce, and the Policy and Advocacy Committee which she has Chaired since 2014.

Pamela has worked for more than 22 years in the mining operational, geoscience, exploration and corporate roles in Africa and Australasia across numerous commodities. Pamela focusses on the overlap of technical projects with stakeholder engagement and decision-making at Executive and Board level. Her background includes competent person reporting, operational risk management, mineral resource risk assessment, mining and exploration SHEQ requirements and corporate governance reporting. Pamela is passionate about providing an enabling culture within which multi-disciplinary teams excel. This includes engagement, mentoring and coaching. She currently serves as a Director of the AusIMM on the Policy and Advocacy and Sub-entity Funding Board Committees and Chairs the AusIMM Geoscience Society committee. Pamela previously served on the Lachlan Branch and WIMNET NSW committees. Pamela is also a Fellow of the GSSA and SEG, Director of Gyrolag and Exige and was recognised in 100 Global Inspiration Women in Mining in 2013.

Dale is in his second term as a Director having joined the Board at the start of 2013. A geologist with over 30 years’ experience he has been involved with The Institute since becoming a member in 1989 while working at Mount Isa. Always active at a Branch level he has also served as a Young Professional Observer on Council in the 1990’s and has helped to organise and deliver numerous technical conferences, roadshows, workshops and training courses with the Institute. Dale has been active with the Geoscience Society (and its precursors) since 2000 working as Chair and Deputy Chair in recent years and currently Chairs the Publications Committee and the Asia Taskforce.

Diana Drinkwater MAusIMM Year 2 of 3, 1st term

Janine Herzig FAusIMM(CP) Year 1 of 3, 2nd term

Pamela Naidoo-Ameglio MAusIMM Year 2 of 3, 1st term

Dale Sims FAusIMM(CP) Year 1 of 3, 2nd term

Colin Moorhead FAusIMM(CP) Year 3 of 3, 1st term

Colin has worked in exploration and mining for almost 3 decades since graduating from the University of Melbourne with a BSc. (Hons) majoring in geology and geophysics in 1987. Most of his career was spent with Newcrest Mining Limited where amongst other roles

he was Chief Geologist for periods at Telfer (WA), Cadia (NSW) and Gosowong (Indonesia) mines before returning to Melbourne as General Manager Technical Services for the Newcrest Group in 2006. In 2008 Colin was appointed Executive General Manager Minerals responsible for global exploration, mining geology, resources and reserves governance and orebody knowledge. Colin left Newcrest in August 2015 and in January 2016 was appointed Chief Executive Officer of emerging Indonesian gold producer PT Merdeka Copper Gold, Tbk.Colin is the current Chair of the Risk and Audit Committee and is The AusIMM Board liaison to the Charter and By-Laws Review Taskforce. He is also representing the Institute as an ex-officio member of The Joint Ore Reserves Committee.Colin is also a Graduate of AICD and a graduate of Harvard Business School, Advanced Management Programme (AMP). Colin has been elected AusIMM President for 2017.

NOTE: Board Directors are elected for three-year terms and are eligible to stand for election for two consecutive terms if they choose.

Steve is a past President of the Queensland Resources Council (QRC) and in 2016 was awarded an Order of Australia Medal for service to the mining industry and to the community. He is also a past recipient of the prestigious AusIMM Jim Torlack Health and Safety award.


ORGANISATIONAL STRUCTUREAUSIMM BRANCH CHAIRS 2016

AUSIMM STUDENT CHAPTER CHAIRS 2016

AUSIMM GOVERNANCE COMMITTEE CHAIRS 2016

AdelaideJohann van Wijk FAusIMM(CP)Broken HillPeter Lean MAusIMMCentral QueenslandChristopher Mills MAusIMM(CP)Central VictoriaSimon Hitchman FAusIMM(CP)CobarDaniel Steven MAusIMM(CP)DarwinPeter Waggitt FAusIMM(CP)Eyre PeninsulaJohannes Gerber MAusIMMFar North QueenslandBrett Duck FAusIMM(CP) from 3/06/17Hong KongGarrick Mendham FAusIMMHunter RegionNeville Sneddon MAusIMMIllawarraRoderick Haselden MAusIMMKalgoorlieChristopher Gianatti MAusIMMLachlanMaya Secheny GAusIMMMelbournePhil Clark MAusIMMNew ZealandRene Sterk FAusIMM(CP)North QueenslandGeoff Phillips FAusIMM(CP)North West Queensland Rhonda O’Sullivan MAusIMM(CP)Ok TediMark Thompson FAusIMMPerthColin Roberts FAusIMM(CP)Roxby DownsMatthew Welke GAusIMM

Audit and Risk ManagementColin Moorhead FAusIMM(CP)RemunerationRex Berthelsen FAusIMM(CP)InvestmentChris Carr FAusIMM(CP)NominationsRex Berthelsen FAusIMM(CP)Sub-entity Merit Based Funding ProgramJanine Herzig FAusIMM(CP), Dave Clark FAusIMM(CP) and Pamela Naidoo-Ameglio MAusIMMGovernanceGeoff Sharrock FAusIMM(CP)Policy & AdvocacyJanine Herzig FAusIMM(CP)Awards CommitteeGreg Chalmers FAusIMM(CP)EthicsEric Grimsey FAusIMM(CP)ComplaintsMike Spreadborough FAusIMMChartered ProfessionalsPeter Hills FAusIMM(CP)

Southern QueenslandKatrina Crook MAusIMMSydney Dan Peel MAusIMMTasmaniaPeter Hills FAusIMM(CP)

The following Branches did not have Chairs, but were active due to the efforts of key members:Mt Tom Price & ParaburdooLeonard Rowe MAusIMMNewman BranchAdam Foot MAusIMM(CP) and BradleyFranklin GAusIMMPort MoresbyAndrew Gunua MAusIMM

Adelaide Student ChapterAshley Walsh SAusIMMBallarat Student ChapterPatrick Bouwmeester SAusIMMCanberra Student ChapterAlexandra Sitepu SAusIMMCurtin Student ChapterJessica Wilkinson SAusIMMGhana Student RepresentativeTheophilus MensahHong Kong Student ChapterTsz Yeung Tang SAusIMMIllawarra Student ChapterEllie Hawkins SAusIMMKalgoorlie Student ChapterHendrik Enslin SAusIMM Melbourne Student ChapterSamuel Hodgetts SAusIMMMurdoch Student ChapterDaniel Dass SAusIMMNewcastle Student ChapterMegan Sinclair SAusIMM

New Zealand Student RepresentativeLauren Farmer SAusIMMSouthern Queensland Student ChapterFia Osborn SAusIMMSydney Student ChapterAlexander Papaioanou SAusIMMUWA Student ChapterJaxon Evans SAusIMMTasmania Student ChapterCarlyn Lang SAusIMM


AUSIMM SOCIETY, COMMITTEE AND TASK FORCE CHAIRS 2016Asia TaskforceDale Sims FAusIMM(CP)AusIMM Charter and By-Laws review taskforcePeter Lilly FAusIMM(CP)Community and Environment SocietyJuleen Brown MAusIMM(CP)Consultants SocietyMark Noppe FAusIMM(CP)Geoscience SocietyPamela Naidoo-Ameglio MAusIMMHealth and Safety SocietyChris Towsey FAusIMM(CP)Heritage CommitteeSandra Close HonFAusIMM(CP)Metallurgical SocietyAidan Giblett FAusIMMMining SocietyDave Clark FAusIMM(CP)New Professionals NetworkJacinta Reidel MAusIMMPublications CommitteeDale Sims FAusIMM(CP)Women in Mining NetworkKate Hobbs MAusIMM

AFFILIATED BODIES CHAIR OR LEAD AUSIMM REPRESENTATIVESJoint Ore Reserves Committee (JORC)Peter Stoker HonFAusIMM(CP) (JORC Deputy Chair)VALMIN CommitteeLouis Rozman FAusIMM(CP) (VALMIN Chair)Education Endowment Fund (EEF) Board of TrusteesJared Osborne MAusIMMEEF National Scholarship CommitteeMichael Catchpole MAusIMM/Miriam Way MAusIMM

NZ Branch Education Endowment TrustJohn St George FAusIMMInternational Transactions Editorial Board Chairs (each of whom lead extensive editorial boards):Section A, Mining Technology: Peter Dowd FAusIMM(CP)Section B, Applied Earth Science: Neil Phillips FAusIMM(CP)Section C, Mineral Processing and Extractive Metallurgy: R V Kumar University of Cambridge; Co-editor, John Rankin FAusIMM(CP)Standards Australia Technical CommitteesMichael Fitjer FAusIMM, VariousProfessions AustraliaMichael Catchpole MAusIMMAustralian Geoscience CouncilJared Broome FAusIMM(CP), Pamela Naidoo-Ameglio MAusIMM, Dale Sims FAusIMM(CP), Bob Smith FAusIMM(CP)International Organisation of Materials, Metals and Minerals SocietiesMichael Catchpole MAusIMM/Miriam Way MAusIMMCSIRO Mineral Resources Sector Advisory CouncilIan Gould AM FAusIMMSomerville CollectionMichael Catchpole MAusIMM/Angus Robinson FAusIMM(CP)International Symposium of Application of Computers and Operations Research in the Minerals IndustryErnest Baafi MAusIMMEastern Australia Ground Control GroupAnthony De Veth MAusIMM(CP), Jacqueline Purcell MAusIMM(CP), Desmond Vliestra MAusIMM, Alex Campbell MAusIMM(CP), Jeremy Doolan MAusIMM(CP), Peter Hills FAusIMM(CP), Ben Jones MAusIMM, Tony Meyers MAusIMM and Robyn Teet MAusIMM

AUSIMM SERVICES STAFF: MANAGEMENT AND EXECUTIVE TEAM 2016Chief Executive OfficerMichael Catchpole MAusIMM (until 2 Sep 2016)Acting Chief Executive; Director, EventsMiriam Way MAusIMMDirector, Member and Corporate ServicesBrad ClementsDirector, Strategy and CommunicationsWayne Robins (until 29 Sep 2016)Director, Strategy and CommunicationsJenni Stiffe (from 2 Nov 2016)Director, Member Services and Institute DevelopmentBarney Milles (until 12 Sept 2016)Director, Events DevelopmentAlison McKenzie (until 15 July 2016)Executive Officer, Corporate ServicesKate LongleySenior Manager, Member ServicesAlexandra JohnstonSenior Manager, Communications and Professional StandardsRichard StartariManager, FinancePrashanth SeetharamanManager, PublishingKristy BurtManager, Professional StandardsLucinda Mathieson (until 29 July 2016)Manager, Branch and Society ServicesMahala Summers (until 12 Sept 2016)Manager, Marketing and DevelopmentSusan GreenbankManager, Information SystemsKim DewarTeam Leader, Senior Coordinator, EventsEliza Sanneman (from 18 July 2016)

Number of employees at year end: 34 (includes both full-time and part-time personnel).


AUSIMM AWARD RECIPIENTS 2016

The Institute MedalCharles Sartain FAusIMM(CP) FTSE

President’s AwardDenby Ward FAusIMM

Honorary FellowshipGreg Chalmers HonFAusIMM(CP)

Beryl Jacka AwardRay Tolhurst MAusIMM

Professional Excellence Jim Torlach Health and Safety AwardStewart Bell PSM

Professional Excellence AwardsHelgi Stedman MAusIMMDavid Wiseman MAusIMM


Also awarded in December 2016 was the Sir Willis Connolly Memorial Medal, which was presented to Dr Tony Marxsen at the 2016 St Barbara’s Day Luncheon held in Melbourne on 4 December 2016.

G B O’Malley MedalRyan Lee GAusIMM

New Professional AwardJacinta Riedel MAusIMM

Sir Frank Espie/Rio Tinto Leadership Awards 2016Jaxon Evans SAusIMMGeorgia Wulf-Rhodes SAusIMM

Best Paper Prize‘Life of Asset Planning Uncertainty and Value Optimisation of the Iron Ore Business from Exploration to Market to Closure’ – Jim McCluskey MAusIMM and Nicolau Barros MAusIMM (published in the proceedings of the Orebody Modelling and Strategic Mine Planning Conference).

Atlas Copco Scholarship 2016Ashleigh Walsh SAusIMM

Institute or Minerals Sector Service AwardsMark Chalmers FAusIMMTerence Fisher FAusIMM(CP) Christopher Sykes MAusIMM(CP)


AUSIMM GOVERNANCECODE OF ETHICS AND COMPLIANCE

The AusIMM has a proud history as a leader in defining and upholding professional standards in the minerals industry. When joining the Institute, and as part of the annual renewal process, members commit to meeting the requirements of the AusIMM Code of Ethics and the professional Codes adopted by the AusIMM Board.The AusIMM By-Laws establish the Complaints and Ethics Committees and a process for receiving and investigating complaints alleging that a member has failed to meet their obligations under the Code of Ethics, By-Laws or professional Codes adopted by the AusIMM Board. The 2016 report of the AusIMM’s compliance program has shown an increase in the total number of complaints, with a sharp increase in the number of complaints relating to proper application of The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). This increase can be partially attributed to the more prescriptive nature of the JORC 2012 Code, which came into effect 1 December 2013. Twenty-four complaints were received during 2016. This represents an increase on the seventeen complaints received in 2015, and is the largest number of complaints in a year to date. Of the 24 complaints:• Nineteen included allegations a member had failed to properly apply the JORC Code.• One included allegations a member had failed to properly apply the VALMIN Code.• Three included allegations a member had acted unethically.

Complaints alleging unethical behaviour by members included concerns around undertaking work outside of a member’s area of competence as well as various ethical concerns stemming from, or intertwined with, commercial disputes and relationships between clients and consultants.The AusIMM’s compliance process is an important assurance to members and the public that the Institute is committed to upholding professional standards within the industry. Many of the complaints received have led to improvements in education offering and compliance support, particularly relating to proper application the technical codes such as the JORC and VALMIN Codes.The full compliance report for 2016 can be found in the April 2017 edition of the AusIMM Bulletin.

REVIEW OF AUSIMM’S ROYAL CHARTER AND BY-LAWS

A key priority through the year has been a review of the AusIMM’s core governance documents: the (1955) Royal Charter and the Institute’s By-Laws.In October 2014, the AusIMM Board determined to establish a taskforce of senior AusIMM members to review the AusIMM Royal Charter and By-Laws. The review taskforce members are:• Dr Peter Lilly (former President 2006) – Chair• Alice Clark (former President 2011-2012) – Deputy Chair• Peter McCarthy (former President 2007-2008)• Colin Moorhead supported the taskforce as the AusIMM Board’s liaison.

During 2016, the review taskforce followed on from 2015 work with extensive discussions during Congress 2016, and two further discussion papers released for member feedback. The taskforce presented the AusIMM Board with a proposed new Charter and By-laws at the end of December. Implementation will be progressed during 2017 with Board endorsement, release to members, member vote and submission to the Australian and New Zealand Governors General for approval.


MEMBER SERVICES

Continuation of the Member Assistance Program (MAP) for our members experiencing disruption in their professional careers. This successful program saw a 19% increase in participation in 2016 compared with 2015.

Introduction of recorded keynote presentations from major AusIMM conferences giving all members the opportunity to hear from some of the industry’s leaders.

Delivery of a wide range of targeted professional development workshops and seminars with reduced rates for members.

Continuation of the ‘visiting members’ recognition program for AusIMM members with our peer institutes in Canada, USA, South America, United Kingdom and Southern Africa.

THE 2016 PROGRAM HIGHLIGHTS

INCLUDED:

2016 was a challenging year for the AusIMM and the mining industry as a whole. Despite the prevailing challenges facing the industry the Institute continued to offer a broad range of professional development services and maintained its support to members impacted by the industry conditions through the Member Assistance Program (MAP).AusIMM membership numbers fell for the first time since 2003 by 4.9% in 2016. By year’s end the Institute had 12,797 members with 87% of members maintaining their membership from 2015. Although membership numbers declined in 2016 due to the continuing minerals industry downturn, the Institute maintained the provision of an increasing range of services to a large and diverse international pool of industry professionals. The number of Branch events increased 4% in 2016 to 295 events and our Communities of Interest provided an extensive range of products, services and activities, engaging with members throughout Australasia and globally.During 2016, the Institute continued its focus on increasing engagement with members. Many dedicated AusIMM members were busy throughout the year developing and delivering programs that reached out to more members through online and face-to-face events.

AusIMM Services with support from Communities of Interest (Branches, Societies, Student Chapters, Committees, Taskforces) held 20 webinars during 2016 covering technical leadership, emotional intelligence and professional skills.

Continued growth and recognition in China, and supporting the growing interest in the JORC Code.

Continuation of the new Graduates Engaged program (GEN) which offers young professionals who have been forced to take employment outside the industry or return to study the opportunity to stay engaged with the Institute.


Branches continued to provide exemplary levels of engagement with members and maintained their strong focus in supporting members through numerous technical talks, workshops, networking opportunities, mining forums, seminars, mentoring programs, travelling speaker programs and networking opportunities. A total of 5,300 people attended Communities of Interest events in 2016.

Student Chapters of the AusIMM held numerous events in 2016 including their annual Students Meet Industry evenings, field trips, honours presentation functions and membership drives, as well as attendance at both the New Leaders’ Conference and National Mining Games held in Brisbane, Queensland.

BRANCHES STUDENT CHAPTERS

The Community and Environment Society focused on several key projects including raising awareness of C&E issues within the wider AusIMM membership, initiating and authoring a number of Bulletin articles on topics and issues related to either the community or the environment in the minerals industry. A working group was formed within the C&E Society to improve the awareness of community and environment issues amongst members within the context of JORC/VALMIN reporting, and several C&E Society Committee members assisted with the Life of Mine Conference and Life-of-Mine Spectrum series to help communicate technical best practice to C&E professionals

The Metallurgical Society successfully delivered the 2016 G D Delprat Distinguished Lecture Series featuring professor Tim Napier-Munn. The series of lectures were attended by more than 500 people at a range of locations including Brisbane, Melbourne, Adelaide, Roxby Downs, Mount Isa, Perth, Kalgoorlie, Sydney and Orange. The Metallurgical Society initiated its technical webinar series in 2016 with four talks on a range of metallurgical topics drawing 231 registrations from around the world.

During 2016 the Consultants Society delivered a successful seminar on “Achieving value from your professional advisors”; maintained the online guidelines for consultants, and contributed to the AusIMM Bulletin articles and the society’s newsletter and webinars which supported members and other active consultants and those new to working as a consultant. The Consultants Society continued to promote the Register for Consultants, with active profiles growing steadily over the year.

The Geoscience Society coordinated and delivered the “Value from Exploration Geology” Distinguished Lecture Series presented by Julian Vearncombe and co-funded by the AIG. The series was held across a range of locations including Adelaide, Melbourne, Bendigo, Brisbane, Townsville, Cairns, Orange, Cobar and Zeehan. The Society supported the New Leaders’ Conference by providing an interactive session on project development and a presentation on the skills new graduates need to navigate change and lead in innovation. A training webinar was held on “A Multidisciplinary Approach to Improved Exploration Success” led by Ben Jupp.

The new Health and Safety Society Committee was elected in April following a call for nominations. An active contributor to the society in its previous iterations as the Health and Safety Taskforce and the Health and Safety Committee, Chris Towsey was elected Chair, to help lead the Society Committee in its effort to deliver professional development relevant to all minerals professionals across all disciplines. A webinar on “The Role of Leadership in Health and Safety” was presented by Geoff Sharrock.

Societies delivered an exceptional program of events in 2016, some highlights include:

The Institute continued to offer services to Communities of Interest whilst supporting them with their activities and engagement with members.

The Mining Society established a Distinguished Lecture program featuring guest speaker Brian Hall. The presentation on “What do Mining Stakeholders Want and How can Miners Deliver it?” was delivered to several branches around Australia including Brisbane, Perth, Kalgoorlie, Melbourne, Mount Isa, Central Victoria and Darwin. The Mining Society conducted a survey of members to gather information to assist the committee to better focus its activities and guide the Committee’s priorities for the coming year


The Women in Mining Network held over 80 events in 2016 with more than 7600 attendees across Australia and New Zealand. A large contribution of nominations for the 2016 National Women in Resources Awards resulted in a number of winners at state and national level. Conference Grants created to support women who wish to present technical abstracts were granted to each AusIMM Conference in 2016 through a rigorous process.

HERITAGE COMMITTEEThe Heritage Committee’s range of activities included the provision of heritage advice to members and others, provision of heritage articles, expansion of the Heritage webpage and planning for the AusIMM 125th anniversary in 2018. The Heritage Committee provided successful nominations to the Australian Prospectors and Miners Hall of Fame and the successful nomination of the Illawarra Branch Heritage subcommittee for an AusIMM Service Award.

The New Professional Network (NPN) continues to support the members of the AusIMM in the first five years of their minerals career by providing soft skills and technical webinars and networking events. In 2016, the NPN sponsored events aimed specifically at young professionals in regional areas including Central Victoria and Central Queensland. They also continued to promote the importance of mental health for young professionals in conjunction with the Beyond Blue organisation.

Committees also had a productive year, with highlights including:


The following figures provide an overview of membership demographics to 31 December 2016.

FIGURE 1 – MEMBERSHIP OF AUSIMM SOCIETIES AS AT 31 DECEMBER 2016

FIGURE 2 – MEMBERSHIP GROWTH, 31 DECEMBER 2007 TO 2016

Figure 2 shows AusIMM membership growth by gender from 2007 to 2016. 2016 saw a fall in membership growth for the first time since 2003. This decrease in membership resulted from a sustained downturn in the minerals industry and occurred despite AusIMM’s offer of support and fee assistance to members facing unemployment and financial difficulty.

The percentages of female and male members are 13% and 87% respectively. Growth in female membership has increased significantly in the past 10 years. The proportion of female members accounted for 7% (599) of total membership in 2007 and this has grown to 13% (1,690) in 2016.

In 2016, AusIMM received 885 new member applications and an additional 143 reinstatement applications, total of 1028. This was offset by 1603 members who were removed from the register due to death, resignation or unpaid membership.

Figure 1 shows the number of members engaged with each of the societies. Many members participate in more than one society.

Note: Demographic data excludes Company members


FIGURE 3 – MEMBERSHIP BY GRADE AND AGE, 31 DECEMBER 2016

Figure 3 illustrates the progression of AusIMM members through the institute’s membership grades during their lives. Students commence their membership from under 20 years of age and solely represent this age group. Student membership makes up 11% (1,386) of total membership. The 21 to 30 age group comprises largely of student and graduate members, and a small portion of members who were graduate members that progressed to member, and new members. As members progress in their careers, they dominate the next three age groups up to 60 years. The number of members fall from 61 years offset by Fellow members that represent a large proportion of members aged 61 to 70. Fellows make up the majority of members aged 71 and over. The average age of an AusIMM member is 45.

Note: Demographic data excludes Company members

FIGURE 4 – MEMBERSHIP BY GEOGRAPHIC REGION, 31 DECEMBER 2016

The mining dominated states of Western Australia and Queensland make up 49% of AusIMM membership. New South Wales and the Australian Capital Territory members add a further 14% to membership. Members residing in these states form a total of 63% of local AusIMM membership. The International members (those residing outside of Australia, New Zealand and Papua New Guinea) represent 19% of membership (17% in 2015, 16% in 2014). The number of international members has shown consistent growth in the past three years. The largest region of international members is Asia, which represents 6% of AusIMM membership in 2016.


FIGURE 5 – CHARTERED PROFESSIONAL MEMBERS BY YEAR

The AusIMM Chartered Professional (CP) Program provides recognition of the professional status of CP members by assessing competency and ensuring this is maintained through Continuing Professional Development (CPD) activities.Accreditation as a Chartered Professional is available to AusIMM members with a minimum of five years of relevant work experience in one of the accredited professional practice specialities.Accreditation is available in the following specialities:• Environmental• Geology• Geotechnical• Management• Metallurgy• Mining Engineering

The AusIMM’s Chartered Professionals program continued to grow in 2016. There were 1,437 accredited Chartered Professionals as of 31 December 2016. This is an increase of 5% from 2015. In 2016, AusIMM received 77 applications for Chartered Professional accreditation. The Chartered Professional program is currently under review, led by the Professional Accreditation Advisory Taskforce (PAAT).


The Perth Branch has the largest number of members 3476 (27%), followed by Southern Queensland Branch with 1931 members (15%). These branches combined with Adelaide (4%), Hunter Region (4%), Melbourne (7%) and Sydney (6%) make up 63% of AusIMM membership.The International regions have 2273 members (18%). Members in the Hong Kong, New Zealand and Port Moresby branches contribute to 3% of AusIMM membership.

ACKNOWLEDGEMENTSWe would like to acknowledge the time and effort of our Communities of Interest for their commitment in their respective Branches, Societies, Student Chapters, Committees and Taskforces, and to sincerely thank all of the members who volunteer their time to run these important groups. We greatly appreciate their passion and drive in supporting AusIMM members in their careers.

FIGURE 6 – MEMBER BREAKDOWN BY BRANCH, 31 DECEMBER 2016

Hong Kong – 74 International – 2273 Port Moresby – 36

Central Queensland – 256 Far North Queensland – 87 North Queensland – 192 North West Queensland – 105 Southern Queensland – 1931

Central Victoria – 260 Melbourne – 877

Tasmania – 193

New Zealand – 279

Adelaide – 571 Eyre Peninsula – 24 Roxby Downs – 25

Broken Hill – 25 Cobar – 46 Hunter Region – 538 Illawarra – 225 Lachlan – 252 Sydney – 744

Kalgoorlie – 230 Mt Tom Price and Paraburdoo – 8 Newman Combined Group – 12 Perth – 3476

Darwin – 58


EDUCATION AND CAREERSSTUDENT CHAPTERS

In 2016 there were 14 Student Chapters in Australia and Hong Kong and International Student Representatives from New Zealand and Ghana who were responsible for maximising opportunities for students studying a minerals related degree. Run by an elected committee of students, Student Chapters play an important part in providing opportunities for networking and friendship as well as the chance to link with professionals already in the industry. Student Chapters host an annual Students Meet Industry (SMI) event designed to provide networking opportunities with local and national companies as well as experienced AusIMM members. Company representatives and AusIMM members provide students with insights into the minerals industry, vacation work options and information on gaining graduate employment.

NEW PROFESSIONALS NETWORK

The AusIMM New Professionals Network (NPN) is run by a volunteer committee of professionals in the first six years of their career. Representation on the committee covers a mix of minerals industry professions from across Australia and internationally. The NPN’s main aim is to help young AusIMM members build their networks and progress their career. In 2016, the NPN:

• Held a fundraising event in Perth with proceeds donated to Beyond Blue.

• Ran webinars on technical topics and industry software. • Collaborated on AusIMM events such as the Central Victorian

Branch Young Professional Seminar.

• Continued running Barefoot Bowls Mentoring events in Queensland and Western Australia.

• Supported the 2016 AusIMM New Leaders’ Conference in September and organised a session for the conference titled ‘Pushing yourself as a new professional’.

SCHOLARSHIPS AND SPECIAL FUNDS

AUSIMM EDUCATION ENDOWMENT FUND (EEF)The application period for the 2017 AusIMM EEF Undergraduate Scholarships closed on Friday 23 September 2016. The AusIMM EEF PhD Scholarship closed on Friday 21 October 2016. A total of 62 applications were received, with 51 submitted for the undergraduate awards and an additional 11 applications submitted for the PhD scholarship. The National Scholarship Committee recommended the award of 13 new scholarships for 2016: two Sir Frank Espie/Rio Tinto Leadership Scholarships, eight Premium Scholarships and one PhD Scholarship.The awardees of the AusIMM EEF scholarships for 2016 were:

• Jaxon Evans – Sir Frank Espie/Rio Tinto Leadership Award, Masters of Professional Engineering (Mining) – University of Western Australia

• Georgia Wulf-Rhodes – Sir Frank Espie/Rio Tinto Leadership Award, Bachelor of Science (Earth Science) (Chemistry) – University of Tasmania

• Gordon Akauma – EEF Premium Award, Bachelor of Engineering (Mining)/Bachelor of Commerce (Finance) – University of Wollongong

• Adrian Cumerlato – EEF Premium Award, Bachelor of Engineering (Mining)/Bachelor of Commerce (Finance) – University of New South Wales

• Barbara David – EEF Premium Award, Bachelor of Engineering (Mining) (Civil) – University of New South Wales

• Lachlan Mackenzie – EEF Premium Award, Bachelor of Engineering (Chemical) – University of Adelaide

• Ryan Marshall – EEF Premium Award, Bachelor of Engineering (Mining) – Federation University

• Jessica McGregor – EEF Premium Award, Bachelor of Engineering (Mining) – University of New South Wales

• Bryan Phoon – EEF Premium Award, Bachelor of Engineering (Mining)/Bachelor of Commerce (Finance) – Curtin University of Technoilogy (WASM)

• Toby Schmidt – EEF Premium Award, Bachelor of Engineering (Mining) – Univeristy of Queensland

• Naomi Sinclair – EEF Premium Award, Bachelor of Engineering (Mining)/Bachelor of Commerce (Finance) – University of Queensland

• Sebastian Wong – EEF Premium Award, Bachelor of Science (Earth Science) (Honours) – University of Newcastle

• Stuart Nicol – EEF PhD Scholarship – University of Queensland


The EEF scholarship package continues to include a professional mentoring program during the tenure of the scholarship and participation in a one week intensive field trip to a mineral dense region of Australia.

AWARDS FOR ACADEMIC ACHIEVEMENTDuring 2016, 53 Awards for Academic Achievement were given to undergraduate students undertaking AusIMM-recognised courses at Australian universities. These were the students from each year level that achieved the highest annual examination results, as nominated by their Head of Department.

BICENTENNIAL GOLD 88 ENDOWMENT FUNDThis fund was established following a very successful geoscience conference in 1988. Income is made available to support university research projects in economic geology and mineral economics. During 2016, grants were made to a total value of $6,500.The winners of the Bicentennial Gold 88 Endowment Fund for 2016 were:

• Monash University – School of Earth, Atmosphere and Environment – Jessica Hamilton

• Monash University – School of Earth, Atmosphere and Environment – Connor Turvey

• University of New England – School of Environment and Rural Sciences – Geoscience Society

NAMED SPECIAL PRIZES AND AWARDSA number of special prizes and awards are named in honour of prominent leaders of the Australian mining sector.

a. The Reg Buckett Prize is awarded to the best final-year engineering project at the Western Australian School of Mines (WASM) in metallurgy and in mining. This prize consists of an AusIMM trophy and is awarded during the annual WASM graduation ceremony.

The winners of the Reg Buckett Prize for 2016 were:

• Bachelor of Engineering (Mining Engineering) – Tendai Chadyiwa

• Bachelor of Engineering (Mining Engineering) – Dumisani Victor Masaka

• Bachelor of Engineering (Metallurgical Engineering) – Michael Assmannb. The Ian Morley Thesis Prize was presented at the Julius Kruttschnitt Memorial Lecture in Queensland to Iain Fullelove from The

University of Queensland, for mining engineering, and Dirk Seelig from The University of Queensland, for geosciences. c. The Max Eden Bursary was not awarded in 2016.

ATLAS COPCO SCHOLARSHIPThe scholarship is open only to AusIMM Student members studying at Australian, New Zealand and Papua New Guinean universities in the final two years of their Bachelor’s Degree in technical courses of relevance to the minerals industry. The scholarship recipient receives one week at Atlas Copco’s operations in Australia, one week in Sweden at the company’s production facilities in Orebro and a second week visiting Swedish mine sites.In 2016, the scholarship was awarded to Ashleigh Walsh – Bachelor of Engineering (Mining) (Honours) – University of Adelaide.

TARKWA SCHOLARSHIPThe AusIMM Tarkwa scholarships were instigated by Biernacki and Elvish Enterprises Pty Ltd and the University of Mines and Technology in Tarkwa, Ghana. The scholarship provides funding to assist in paying the tuition fees of the recipients, with any remaining funds being supplied to the winners for personal uses such as purchasing books and education supplies.The winners for 2016 were:• Kofi Owusu Achaw Arhinful – Bachelor of Science (Hons) Mining Engineering, for the paper entitled ‘Mining and Socio-

Environmental Sustainability – A Global Concern’• Pendor Gedel – Bachelor of Science (Hons) Mineral Engineering for the well referenced paper ’Improving Production Forecasting

Through Geometallurgical Modelling’.

COURSE RECOGNITIONThe AusIMM continues to provide Professional Course Recognition to 125 courses from 28 Australian universities. In 2016 the AusIMM, with the assistance of a dedicated review panel, assessed and approved for Technical Course Recognition three Associate Degree courses from two Australian universities.


8-9 MARCHProject Evaluation 2016 Adelaide, South AustraliaConference Chair Adrian Pratt FAusIMM(CP)

CONFERENCES AND EVENTS

2016 EVENTS

MARCH

9-11 MAYThe Seventh International Conference & Exhibition on

Mass Mining (MassMin 2016) Sydney, New South Wales

Conference Co-Chairs Chris Carr FAusIMM(CP) &

Dr Gideon Chitombo MAusIMM

7-8 JUNEThe AusIMM International Uranium Conference 2016,

Adelaide, South Australia Conference Chair: Mark Chalmers FAusIMM

15-16 JUNEThe Third AusIMM International Geometallurgy Conference (GeoMet 2016) Perth, Western AustraliaConference Chair: Dr Simon Dominy FAusIMM(CP)

AUGUST

22-24 AUGUSTInternational Mine Management 2016

Brisbane, QueenslandConference Chair

Paul Harper FAusIMM(CP)

28-30 SEPTEMBERLife-of-Mine 2016 Brisbane, Queensland Conference Chair David Mulligan FAusIMM

7-10 NOVEMBERInternational Mining and Resources Conference –

IMARC 2016 Melbourne, Victoria

15-16 NOVEMBERNinth AusIMM Open Pit Operators’ Conference 2016, Kalgoorlie, Western Australia Conference Chair Morrie Goodz FAusIMM(CP)

10-12 OCTOBER13th AusIMM Mill Operators’ Conference 2016

Perth, Western Australia Conference Chair

Dean David FAusIMM(CP)

MAY

JUNE

SEPTEMBER

OCTOBER

NOVEMBER


ANOTHER SUCCESSFUL YEAR FOR AUSIMM EVENTS2016 was another challenging and ultimately rewarding year for the AusIMM Conference and Events department. The Institute hosted ten conferences and three workshops/seminars, with support from 89 sponsors, 128 exhibitors and more than 330 speakers. Over the course of the year, AusIMM conferences and seminars attracted a total of 2892 delegates .After a lead up of more than three years, The Seventh International Conference & Exhibition on Mass Mining (MassMin 2016), came to fruition. The conference was a great success with more than 570 delegates attending to hear 90 high-quality technical presentations over three days. The conference was also complimented with a number of minesite tours, workshops and social functions.The year also saw the reoccurrence of our flagship events including Project Evaluation, International Uranium Conference, International Mine Management Conference, AusIMM Open Pit Operators and the AusIMM Mill Operators’ Conference, which once again continued to build on its outstanding reputation and cement itself as one of the AusIMM’s leading conferences. With the team working hard on sponsorship and delegate targets as well as the delivery of all events to an exceptionally high standard, the year was an overwhelming success, in what was a challenging year given the financial climate.

89SPONSORS

128EXHIBITORS

TOP 5 EVENTS BY ATTENDANCE 2016 2892

DELEGATES

SPEAKERS330+


AUSIMM PUBLICATIONS

2016 saw the release of Monograph 31: Mineral Deposits of New Zealand Deposits – Exploration and Research, edited by Dr Tony Christie. The publication is an essential reference on the geology, exploration, research and mining of New Zealand mineral deposits and summarises work from the mid-2000s to 2016. Progress continued on the latest incarnation of the AusIMM ore geology series first published in the 1950s. Edited by Professor Neil Phillips, Australian Ore Deposits (Monograph 32) will comprise 900 pages featuring 170 papers, the most comprehensive undertaking to date of Australia’s mineral resources.The AusIMM continues to collaborate with Taylor and Francis in producing the Mining Technology, Applied Earth Science, Mineral Processing and Extractive Metallurgy journals that form part of the International Transactions series. These peer-reviewed technical journals provide a unique opportunity for authors to reach a wide international audience and for AusIMM members to engage in professional development.A further eight conference volumes were released in 2016. All publications listed can be purchased from the AusIMM Online Shop. OneMine is the online global mining and minerals library, and with over 120,000 documents available, it remains a key benefit utilised by AusIMM members. AusIMM content represented 24% of the downloaded files from OneMine in the 2015–16 financial year and AusIMM members remain the second highest users of the OneMine system after SME/AIME.Contributions by authors, reviewers and committee members to publishing projects throughout 2016 are gratefully received by the Institute. Without the input of volunteer authors, editors and reviewers, the Institute would not be able to publish such important scientific and best practice information for the continuing education of members and industry. Thanks are also due to our publications committee, Chaired by Dale Sims for their work in evaluating publishing opportunities for the AusIMM.

AUSIMM BULLETIN, ONLINE AND SOCIAL MEDIA

The AusIMM Bulletin continues to be the Institute’s flagship publication for member news and discussions about the changing expectations of minerals professionals. The AusIMM Bulletin print edition and website continues to perform strongly, attracting premium content from leading practitioners in the minerals sector. We are grateful to the many members who have also contributed high-quality articles that have been fundamental to ensuring The AusIMM Bulletin remains the minerals sector’s leading publication. The AusIMM Bulletin website attracted nearly 75 000 individual readers in 2016 – a 60 per cent increase from 2015. At the end of 2016, the AusIMM has more than 3700 followers on Facebook; 3600 followers on Twitter and just over 4700 members in the AusIMM LinkedIn Group.

PUBLISHING AND COMMUNICATIONS

THE

BULLETIN

ATTRACTED NEARLY

75 000 INDIVIDUAL READERS IN 2016,

A 60 PER CENT INCREASE FROM 2015

MORE THAN 3700 FOLLOWERS ON FACEBOOK

3600 FOLLOWERS ON TWITTER

MORE THAN 4700 MEMBERS IN THE AUSIMM

LINKEDIN GROUP


PRESIDENT’S FINANCIAL REPORT – 2016

In 2016 the AusIMM continued to provide valued services to members in a challenging economic and industry environment. Net assets held on behalf of our Communities of Interest (AusIMM’s Groups – Branches, Societies, Committees, Chapters and Taskforces) totalled $3.2m at 31 December 2016 (compared with $3.3m at the end of the previous year), and net assets held as a reserve for provision of services were $4.13m (compared with $4.24m for 2015). At year-end, cash and investments totalled $10.57m. The consolidated operating deficit for the 12 months ending 31 December 2016 was $441,319, of which AusIMM Services incurred $282,331 and Groups $158,988. Additionally, an unrealised capital gain on investments of $173,696 has been recorded when bringing our investments to market value at 31 December 2016. While this is a non-cash item, the net deficit attributable to members for the 2016 year was $267,623.

BOARD MEMBERS

The names of the Board members throughout the year and at 31 December 2016 were:Rex Berthelsen FAusIMM(CP) (President 2016),Geoffrey Sharrock HonFAusIMM(CP) (Immediate Past President retiring 2016), Janine Herzig FAusIMM(CP), Dale Sims FAusIMM(CP), Colin Moorhead FAusIMM(CP) (President Elect 2017), Diana Drinkwater MAusIMM, Steven de Kruijff MAusIMM, Pamela Naidoo-Ameglio MAusIMM, Alexandra Atkins FAusIMM(CP), Dave Clark FAusIMM(CP).

PRINCIPAL ACTIVITIES

Consistent with the objects and purposes of our Royal Charter, the principal activities of the AusIMM during the financial year were undertaken to achieve our agreed strategic mission: To provide leadership and opportunities to minerals industry professionals.These activities included:• The promotion and advancement of science and professional best practice within the minerals industry and its many disciplines.• Membership support and services by a voluntary Communities of Interest structure throughout Australasia and Hong Kong, and

through our international representatives.• Advocacy, research and representation on issues impacting professionals in the minerals sector• Encouraging employers to support professionals and, in particular, AusIMM members• Promoting career opportunities in the sector and supporting minerals tertiary education• Promoting standards of excellence, providing opportunities for continuing professional development through conferences, events

and the provision of technical publications, promoting professionalism and enhanced recognition of continuing professional development, and

• Ensuring that we run an efficient and transparent organisation with appropriate levels of governance and management of risk.I gratefully acknowledge the efforts of all Office Bearers in Branches, Societies, Committees, Chapters and Taskforces operating at a national and international level, and thank all those involved for their time, which is freely given on an entirely voluntary basis. I thank all staff of AusIMM Services and my fellow Directors for their great contribution to a financially challenging but overall successful year for the AusIMM. In particular I would like to thank Michael Catchpole MAusIMM former CEO of AusIMM and his replacement this year as Acting CEO Miriam Way MAusIMM. The contribution of each to what is a commendable result in the current industry environment cannot be overstated. The AusIMM will continue to deliver the highest level of services to its members.

Rex Berthelsen FAusIMM(CP) President 2015-2016 The Australasian Institute of Mining and Metallurgy Date: 19 April 2017 Newcastle, Australia

THE AUSIMM CONCISE FINANCIAL REPORT

IMPORTANT INFORMATION FOR MEMBERS

The President’s Financial Report, Auditor’s Report, Directors’ Statement and condensed Financial Statements contained within this document represent a ‘Concise Financial Report’. This Concise Report has been derived from the full audited Financial Statements of The Australasian Institute of Mining and Metallurgy (AusIMM) for the 12-month financial period ended 31 December 2016. This report cannot be expected to provide as full an understanding of the financial performance, financial position, financing and investing activities of the AusIMM as the full Financial Statements.References to ‘Notes’ within this Concise Financial Report are to those notes appearing in the audited full Financial Statements. A copy of the full 2016 Audited Financial Statements is available to Members on the AusIMM website (www.ausimm.com.au) or by contacting AusIMM Services to arrange delivery of a hard copy.


INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGY

OUR OPINIONIn our opinion the accompanying financial report presents fairly, in all material respects, the financial position of The Australasian Institute of Mining and Metallurgy (AusIMM) (the Parent Entity/Entity) and its controlled entities (together the Group) as at 31 December 2016 and its financial performance and its cash flows for the year then ended in accordance with Note 1 to the financial report.

WHAT WE HAVE AUDITEDThe financial report comprises:• the Consolidated and Parent Entity statements of financial position as at 31 December 2016• the Consolidated and Parent Entity statements of comprehensive income for the year then ended• the Consolidated and Parent Entity statements of changes in equity for the year then ended• the Consolidated and Parent Entity statements of cash flows for the year then ended• the notes to the financial statements, which include a summary of significant accounting policies• the declaration of the Board.

Basis for opinionWe conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial report section of our report.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.Emphasis of matter –basis of accounting and restriction on distribution and useWe draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared to meet requirements of the Associations Incorporation Reform Act 2012 and is appropriate to meet the needs of the members. As a result, the financial report may not be suitable for another purpose. Our report is intended solely for the Group and should not be distributed to or used by parties other than the Group. Our opinion is not modified in respect of this matter.

RESPONSIBILITIES OF THE BOARD FOR THE FINANCIAL REPORT

The Board of the Entity are responsible for the preparation and fair presentation of the financial report in accordance with Note 1 to the financial report and, for such internal control as the Board determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error.In preparing the financial report, the Board is responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL REPORT

Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report.A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at:http://www.auasb.gov.au/auditors_files/ar3.pdf. This description forms part of our auditor’s report.


MATTERS RELATING TO THE ELECTRONIC PRESENTATION OF THE AUDITED FINANCIAL REPORT

This auditor’s report relates to the financial report of The Australasian Institute of Mining and Metallurgy (AusIMM) for the year ended 31 December 2016 is included on The Australasian Institute of Mining and Metallurgy (AusIMM)’s web site. The Board of the Parent Entity is responsible for the integrity of The Australasian Institute of Mining and Metallurgy (AusIMM)’s web site. We have not been engaged to report on the integrity of this web site. The auditor’s report refers only to the financial report named above. It does not provide an opinion on any other information which may have been hyperlinked to/from the financial report. If users of this report are concerned with the inherent risks arising from electronic data communications they are advised to refer to the hard copy of the audited financial report to confirm the information included in the audited financial report presented on this website.PricewaterhouseCoopersMegan Fitzgerald Partner Date: 19 April 2017 Melbourne, Australia

DIRECTORS’ STATEMENT TO THE MEMBERS OF THE AUSTRALASIAN INSTITUTE OF MINING AND METALLURGYAs stated in note 1(a) to the financial statements, the AusIMM is not a reporting entity because, in the director’s opinion, it is unlikely that users exist who are unable to command the preparation of reports tailored so as to satisfy, specifically, all of their information needs. This is a special purpose financial report that has been prepared for internal purposes.The financial statements and notes set out on pages 7 to 27 have been approved and adopted.The directors are solely responsible for the information contained in the report and have determined that the accounting policies used are appropriate for internal purposes.This declaration is made in accordance with a resolution of directors.This statement is made in accordance with a resolution of the Board, and is signed for and on behalf of the Board by:

Explanatory noteThe consolidated financial results of AusIMM Services and Groups reflect the overall performance of the AusIMM. These results will vary from those reported for AusIMM Services alone, due to the inclusion of income and expenditure realised by the Groups. Certain items that have been recognised as revenue by AusIMM Services and the Groups relate to internal activity that upon consolidation is eliminated to ensure that there is not a double counting effect, and that the financial report is compliant with Accounting Standards. The same principle is true for expenditure.

Rex Berthelsen FAusIMM(CP) Colin Moorhead FAusIMM(CP) President 2016 President 2017 Date: 19 April 2017 Newcastle, Australia


STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016

Notes Services & Groups 2016

Services & Groups 2015

Services 2016

Services 2015

$ $ $ $INCOMESubscriptions 3,862,101 4,028,908 4,098,683 4,144,847Interest 445,654 577,792 443,774 574,771Publications 567,710 693,948 799,520 956,844Conferences 3,430,534 3,532,251 3,102,372 2,661,766Professional Development 47,309 33,422 40,812 33,422Service Fees 56,064 54,840 62,064 66,840Sundry Income 120,095 121,456 56,386 56,522Operating Income 8,529,467 9,042,617 8,603,611 8,495,012EXPENDITUREAudit & Accounting Fees 2 60,403 76,022 40,000 50,156Group Appropriations - - 151,671 232,893Conferences/Functions 2,319,396 2,862,108 2,060,109 2,050,035Group Conference Surplus Share - - 68,163 14,161Depreciation 144,995 119,546 144,995 119,546Donations, Awards & Prizes 55,527 69,013 4,777 5,284Membership Assistance Program - - 308,331 200,076Operating Lease Expenditure 446,580 461,520 446,580 461,520Office Administration 811,121 891,708 764,689 856,291Personnel Expenses 4,123,213 4,239,114 4,123,213 4,239,114Printing and Publishing 348,032 346,449 315,549 329,876Provision for Employee Benefits (35,602) (99,110) (35,602) (99,110)Travel Expenses 285,828 387,017 99,260 102,345Utilities/Postage 262,980 264,673 261,300 262,542Other Expenses 148,313 131,124 132,907 125,182Total Operating Expenditure 8,970,786 9,749,184 8,885,942 8,949,911

OPERATING ACTIVITIES (441,319) (706,567) (282,331) (454,899)

Unrealised Capital (Loss)/Gain on Investments

1(h) 173,696 (217,886) 173,696 (217,886)

NET (DEFICIT)/SURPLUS ATTRIBUTABLE TO MEMBERS (267,623) (924,453) (108,635) (672,785)

* Notes are available in the full Financial Statements - available on the AusIMM website or upon request.

INCOMETotal subscription collections in 2016 represent 45.3% of total revenue (compared with 44.6% in 2015). Conference income represents 40.2% of total revenue (compared with 39.1% in 2015). All other activities combined represent 14.5% of total revenue (compared with 16.3% in 2015).

EXPENDITUREConference expenditure represents 25.9% of total expenditure (compared with 29.4% in 2015).


STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2016



Services 2016

Services 2015

$ $ $ $CURRENT ASSETSCash / Investments 3 10,571,846 11,141,415 10,330,243 10,814,100Receivables 4 2,940,137 2,779,532 2,897,532 2,758,943Other Assets 5 267,135 313,552 261,726 300,078TOTAL CURRENT ASSETS 13,779,118 14,234,499 13,849,501 13,873,121NON-CURRENT ASSETSFurniture and Equipment 6 345,549 471,141 345,549 471,141TOTAL NON-CURRENT ASSETS 345,549 471,141 345,549 471,141

TOTAL ASSETS 14,124,667 14,705,640 13,835,050 14,344,262

CURRENT LIABILITIESPayables 7 6,353,853 6,572,608 9,207,966 9,513,948Provisions 8(a) 290,617 336,498 290,617 336,498TOTAL CURRENT LIABILITIES 6,644,470 6,909,106 9,498,583 9,850,446NON-CURRENT LIABILITIESProvisions 8(b) 204,869 253,583 204,869 253,583TOTAL NON-CURRENT LIABILITIES

204,869 253,583 204,869 253,583

TOTAL LIABILITIES 6,849,339 7,162,689 9,703,452 10,104,029

NET ASSETS 7,275,328 7,542,951 4,131,598 4,240,233

INSTITUTE FUNDSAccumulated Surplus/(Deficit) 7,275,328 7,542,951 4,131,598 4,240,233TOTAL INSTITUTE FUNDS 7,275,328 7,542,951 4,131,598 4,240,233


TOTAL INSTITUTE FUNDSTotal Institute Funds decreased by $267,623 in the 2016 year (compared with an decrease of $924,453 in 2015). This represents the net deficit incurred during the year. Refer Statement of Changes in Equity.

ASSETSTotal cash and investments represent 74.8% of total assets (compared with 75.8% in 2015).


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2016



Services 2016

Services 2015

$ $ $ $Balance at 1 January 7,542,951 8,467,404 4,240,233 4,913,018

(Deficit)/Surplus attributable to Members of the Institute

(441,319) (706,567) (282,331) (454,899)

Other comprehensive (loss)/income

173,696 (217,886) 173,696 (217,886)

Total comprehensive income for the year

(267,623) (924,453) (108,635) (672,785)

Balance at 31 December 7,275,328 7,542,951 4,131,598 4,240,233


STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2016



Services 2016

Services 2015

$ $ $ $Cash flows from operating activities Subscriptions, conferences and other receipts

8,439,178 9,182,165 8,537,657 8,547,822

Payments to suppliers and employees

(9,254,157) (10,657,634) (9,176,176) (9,605,222)

Interest Received 445,654 577,792 443,774 574,771

Net cash flows from (used) in operating activities

13(a) (369,325) (897,677) (194,745) (482,629)

Cash flows from investing activities Investment in furniture, fittings and equipment

(19,398) (140,279) (19,398) (140,279)

Net cash derived (used) in investing activities

(19,398) (140,279) (19,398) (140,279)

Cash flows from financing activitiesProceeds from (reduction of) borrowings - intercompany loan accounts & publication projects

(180,846) 57,281 (269,714) (341,835)

Net financing cash flows (180,846) 57,281 (269,714) (341,835)

Net increase (decrease) in cash held

(569,569) (980,675) (483,857) (964,743)

Opening current cash / investments brought forward

11,141,415 12,122,090 10,814,100 11,778,843

Closing current cash / investments carried forward

3 10,571,846 11,141,415 10,330,243 10,814,100



The Australasian Institute ofMining and Metallurgy

Incorporated by Royal Charter 1955

ABN 59 836 002 494

Ground Floor, 204 Lygon StreetCarlton Victoria Australia 3053

PO Box 660, Carlton SouthVictoria Australia 3053

Telephone +61 3 9658 6100Facsimile +61 3 9662 3662

www.ausimm.com

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