NEWS RELEASE: Mining Association of Canada launches new scholarship for mining finance students

Shortage of young professionals needed in fields of mining and mineral economics

OTTAWA, Oct. 23, 2012 /CNW/ – The Mining Association of Canada (MAC) has announced the launch of a new scholarship available to Canadian university students interested in pursuing a career in mineral economics.

MAC and its members established the Paul Stothart Memorial Scholarship following the passing of its valued colleague, Paul Stothart. A graduate of Queen’s University (MBA Finance, Bachelor in Civil Engineering), Paul was an accomplished professional who was passionate about advancing the Canadian mining industry in his role as MAC’s Vice President of Economic Affairs, which he held from 2006 to 2012. The scholarship is valued at $3,500 and will be awarded annually to one student studying either a Bachelor or Master of Economics, or Master of Business Administration. Candidates must also demonstrate an interest in mineral economics through current or future course work.

As of today, students are able to submit their applications until April 15, 2013. The inaugural scholarship will be awarded to the selected candidate for the 2013-2014 school year.

A 2011 report from the Mining Industry Human Resources Council (MiHR) estimates that the mining industry in Canada must hire 100,000 new workers over the next decade to replace retiring workers and to fill new positions. In addition to other labour sources, the industry is relying on universities to help train the next-generation of skilled mining workers into much needed positions.

“The scholarship’s focus on mineral economics reinforces the need for workers across the full spectrum of jobs in the mining sector,” said Pierre Gratton, MAC’s President and CEO. “Beyond geologists, engineers and metallurgists, the industry also requires mining professionals with finance and business management backgrounds.”

Canada is a global hub for mining finance with the Toronto Stock Exchange (TSX) handling more than 80 per cent of the world’s mining equity transactions over the past five years. Toronto, Vancouver, Montreal, Edmonton and Saskatoon are all global mining centres that need to attract mineral economics professionals onto their payrolls. The Canadian mining industry also supports some 3,200 suppliers—indirect mining jobs that provide expertise to the industry, such as finance, accounting or legal companies.

“When people think about what it means to be a miner, they think about the workers underground and not the professionals sitting in offices on Bay Street,” said Gratton. “Finance is a much sought after skill in our industry and we’re pleased to support students who are considering a rewarding career in mining.”

For more information about the scholarship and how eligible students can apply, please visit www.mining.ca.

About MAC

The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada’s production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication. Please visit www.mining.ca.
SOURCE: Mining Association of Canada (MAC)

For further information:
Jessica Draker
(613) 233-9392 x225 or jdraker@mining.ca

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