SEG 45 Final_qx4 - Society of Economic Geologists

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4 SEG NEWSLETTER No 53 • APRIL 2003 LETTERS TO THE EDITOR Our Readers Write: Let’s Award the Explorationist Dear Editor: Through a number of awards and grant programs, the Society of Economic Geologists honors the contributions made by economic geologists. Currently, these awards primarily recognize workers within academia and government-supported institutions. The research typically addresses ore-forming processes from the regional to the geochemical scale. Missing from these awards is one specifically recognizing achievement in exploration. I recommend that SEG similarly recognize, on an annual basis, the contributions made by exploration geologists in industry, and particularly those who contributed directly to the discovery of significant mineralization. Although “academic” research geologists make important contributions to our understanding of mineral systems, and in this process, provide the building blocks for constructing exploration models, explorationists are the fundamental driving force behind the sustainability of the profession. Economic geology would not exist without discovery. New deposit types and/or new districts are still being found, and it is through the discovery process that workers in academia and in government geological surveys can then study such systems and districts and drive the science forward. Globally, discoveries are made annually, and it seems fitting that the geologic teams and principal leaders making such discoveries be acknowledged and complimented. This is especially true as mineral deposits in many regions are increasingly difficult to find, owing to exploration maturity and the need to search under “cover.” The explorationist faces new challenges, as new methods and tools are demanded and these tools become more sophisticated. Further, as the prices of many metals are currently depressed and may remain so for some time, companies are forced to make critical financial decisions on the viability of regional programs and specific projects. Given these considerations, it seems only appropriate that SEG pay tribute to the explorationist with as much fervor as it pays tribute to the academic or governmentagency researcher. I therefore recommend that SEG develop an annual mineral discoverer award. SEG should consider the benefits that such an award would bring in attracting and maintaining support from industry-centered economic geologists. Recognizing the explorationist should be a fundamental role of SEG. Jacob Margolis (SEG 1982) District Geologist AngloGold North America November 16, 2002 FROM THE TREASURER Year-End Summary The Society and the Foundation finished 2002 in good financial condition, having accomplished many of the financial goals that they set out to achieve. Revenues increased about 3.5% from 2001, primarily owing to the highly successful Global Exploration Conference, as well as sales and membership dues. Contributions were down slightly, as expected, as many donors had accelerated gifts for the Conference in the previous year. A small amount of capital gains rounded out total revenue of $1.47 million. Total operating expenses declined in 2002 to $1.33 million compared to $1.56 million in 2001. Starting in mid- 2001, management of the Society recognized the SEG SEG Inc. Foundation Total Revenues $1,209,806 $122,607 $1,332,413 Contributions 54,610 59,602 114,212 Capital Gains 10,659 10,305 20,964 $1,275,075 $192,514 $1,467,589 Operating Expenses $1,249,982 84,630 1,334,612 Grants 0 196,740 196,740 $1,249,982 $281,370 $1,531,352 Net Surplus (Deficit) $25,093 ($88,856) ($63,763) difficult financial outlook for the mining industry and impacts that it would have on members of the Society. An aggressive costcutting program was instituted, resulting in a successful reduction of overhead expenses. As of December 31, 2002, the current value of the Society investment portfolio GEORGE R. IRELAND SEG Treasurer was approximately $8.7 million. Of this sum, approximately 56% was invested in equity-oriented mutual funds, 32% was invested in fixed income mutual funds and the balance was being held in cash. While the value of the portfolio declined last year, the benefits of the diversification were apparent, as the impact was substantially less than declines in the stock markets as a whole. Looking forward, the Society remains in strong financial condition with a balanced budget planned for 2003 and a cautious, conservative investment profile. 1
APRIL 2003 • No 53 SEG NEWSLETTER 5 PRESIDENTIAL PERSPECTIVE Political Advocacy – Why Economic Geologists Should and Do Get Involved Members of the Society of Economic Geologists are and should be involved in the political processes in the countries in which they work. We are directly aware of the key economic, social, cultural, and environmental issues concerning mineral resource development, and we can bring a scientific perspective to debates that often place passion over reason. Furthermore, we often know better than most people how significant certain governmental programs, laws, and regulations are for our profession. As scientists, we tend to eschew getting involved in political issues for many reasons—because it seems that politicians do not always make scientifically sound decisions, or because we feel uncomfortable speaking about issues that are not entirely technical, or because we are simply too busy at our regular jobs. We usually are more comfortable speaking with other scientists than directly with policy makers, the press, or the general public, but even our efforts with other scientists can have political ramifications. A good example of economic geologists getting involved is the report on “Research Opportunities in the Geology and Geochemistry of Mineral Deposit Systems,” authored by Larry Cathles, Murray Hitzman, Steve Kesler, and Hiroshi Ohmoto as the final report of a recent workshop sponsored by the National Science Foundation (NSF) and held at the SEG Headquarters. This report, which is available on the SEG website at , is written to inform and encourage the NSF and other agencies to fund basic research in economic geology. Geologic mapping of large areas and at reconnaissance and regional scales (1:24,000 and smaller) tends to be the responsibility of government, because the maps have many uses, including energy, mineral, and water resource exploration and development; environmental protection; and reduction of risks from natural hazards. Economic geologists have been some of the key proponents of geologic mapping by provincial, state, and federal governments, and they can often assist government geologists by identifying critical areas for mapping. Some of the most detailed geologic maps of ore deposits are being made by company geologists and consultants, and government geological surveys are publishing some of these maps, thereby helping to make them available to the public. Recently, on behalf of SEG, I wrote a letter to the President of Colombia in support of government funding for that country’s geological survey. Many other government programs directly benefit the profession of economic geology, and as economic geologists, we are well positioned to testify on behalf of these programs. For example, the National Research Council (NRC, the operating arm of the non-governmental National Academy of Sciences) periodically provides guidance for U.S. programs, and SEG members have served on and testified before the NRC study committees. Two particularly significant reports (available at ) for us include the 1996 report on “Mineral Resources and Society: A Review of the U.S. Geological Survey’s Mineral Resource Surveys Program Plan,” and the 2002 report on “Evolutionary and Revolutionary Technologies for Mining.” An updated review of the U.S. Geological Survey’s minerals program is currently underway, which is particularly timely because large cuts to the program have been proposed, and a report of the NRC has great potential to influence funding and related policies. Other prime examples of government programs with applications to economic geology include Canada’s Lithoprobe and the U.S. EarthScope programs. The former has demonstrated the applicability of government-sponsored seismic and other geophysical experiments to understanding the geological framework in which ore deposits form. The latter is an initiative to characterize the threedimensional architecture of the crust using integrated seismic tomography, JONATHAN G. PRICE SEG President 2003 global positioning system measurements, in situ stress measurements, and other geophysical investigations of tectonic activity and volcanic processes. Maintaining objectivity, a key aspect of professional ethics in the fields of science, generally gives us the credibility needed to have influence on policy decisions. When scientific uncertainty allows for multiple interpretations or opposing policies, it is best to say so, and we should provide decision makers with options whenever our scientific analysis doesn’t give us clear directions. As scientists, we have the obligation to be objective, and as economic geologists, we have the opportunity to get involved, particularly in the political issues that affect our work. 1 HUGO DUMMETT MINERAL DISCOVERY FUND Contributions to this fund are listed on p. 6. Please visit www.segweb.org/Dummett Fund.pdf to learn more about this fund and its objectives.
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SEG 45 Final_qx4 - Society of Economic Geologists

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