Peter Munk and William James, two of the most recognized names in mining, will be inducted into the Canadian Mining Hall of Fame.
Both men will become members in recognition of their contributions to helping build successful companies. Munk will be honoured for building Barrick Gold into one of the world’s largest gold mining companies, whereas James will be recognized for turning around several companies, including Falconbridge.
The ceremony is slated for Jan. 11, 2002, at the Royal York Hotel in Toronto.
The Canadian Mining Hall of fame honours individuals who have made outstanding contributions to the mining industry and to Canada. It is sponsored by the Canadian Institute of Mining, Metallurgy and Petroleum, the Prospectors & Developers Association of Canada, and The Northern Miner.
Portraits and profiles of the inductees are displayed in the historical Mining Building at the University of Toronto.
William James (B.1929)
William James, mining’s “turnaround man,” has used his skills as a geologist, miner, consultant and senior executive to build and strengthen several of Canada’s most important mining companies.
When he took over the helm of Falconbridge in the early 1980s, the company was losing millions of dollars. James slashed corporate spending and otherwise positioned the company to benefit from improving nickel prices. When Noranda launched a bid for control of Falco that decade, he fought hard to get the best deal for shareholders.
James also restored uranium-oriented Denison Mines to sounder footings and then joined Inmet Mining, where he supported the company’s acquisition of the vast Antamina zinc-copper project in Peru. Throughout his career, he has given freely of his time to industry associations and causes.
Peter Munk (B.1927)
As a company founder and builder, Peter Munk has few peers in Canadian mining history. His vision and determination transformed a fledgling gold company into one of the world’s largest and most profitable producers. Today Barrick Gold produces 6 million oz. annually and is known for its considerable mining assets and financial prowess.
As a business leader, Munk helped transform the gold industry through sophisticated hedging strategies that created value beyond what could be achieved in the mine and mill. He has received many honours for his achievements in mining and in business, while Barrick has won numerous awards for its progressive environmental and social programs.