The Battle to Maintain a Mining Business

TL;DR

Rob McEwen, the former CEO of Goldcorp, shares his experiences with corporate governance, regulations, and innovation in the mining industry, as well as the challenges and successes of his current venture, McEwen Mining.

Transcript

we got a robbery there was a flood in the bada in the high desert well that doesn't make sense then we had another group that drilled into a closed off underground working and flooded one half of the mine and unfortunately we didn't make guidance and the market does what it always does when you miss guidance it was very painful we we went up and th... Read More

Key Insights

• 🪛 McEwen's decision to divest from Goldcorp was driven by his dissatisfaction with increasing corporate governance regulations and his desire to explore alternative investment opportunities.
• 🤔 Innovation and thinking differently are crucial for success in the mining industry. McEwen Mining has embraced alternative solutions and challenged industry norms to drive innovation and improve performance.
• 🙃 The challenges and setbacks faced by McEwen Mining have not deterred the company's growth prospects. Positive developments, such as major investments in its copper assets and improving gold production, suggest a potential upside for the company.
• 👨‍🔬 McEwen's vision extends beyond mining. He aims to support various areas, including regenerative medicine, stem cell research, architecture, and leadership development.

Questions & Answers

Q: What led to Rob McEwen's decision to divest from Goldcorp?

McEwen felt that increasing corporate governance regulations were hindering innovation and progress. He wanted to explore alternative investment opportunities and challenge industry norms and regulations.

Q: How did McEwen Mining overcome the challenges it faced?

McEwen Mining faced operational issues, market volatility, and setbacks. However, through perseverance and strategic decision-making, the company has experienced recent positive developments and growth prospects.

Q: What are some examples of alternative thinking and innovation in the mining industry?

McEwen Mining sought expertise from external sources, used computer graphics and organic solutions, and challenged traditional beliefs and practices to drive innovation and improve performance.

Q: How does McEwen Mining's valuation compare to its assets?

McEwen Mining's valuation is perceived to be lower than the value of its assets, particularly its gold business. The company's copper assets have attracted major investments, indicating potential for future growth and value creation.

Summary & Key Takeaways

• Rob McEwen discusses his decision to divest from Goldcorp due to increasing corporate governance regulations and his desire to explore alternative investment opportunities.

• He highlights the importance of thinking differently and seeking alternative solutions to problems, as well as challenging industry norms and regulations that hinder innovation and progress.

• McEwen recounts the challenges and setbacks faced by McEwen Mining, including operational issues and market volatility, but also highlights recent positive developments and growth prospects.