The 56th Sydney Mining Club Meeting

with the support of AUSENCO and HSBC

Thursday August 1st at 12.30 p.m.

Presents a current affairs special with

Anaconda CEO Peter Johnston

"Anaconda Nickel - Phoenix or Ashes"

PowerPoint Presentation

Can you imagine a bigger challenge than taking over as CEO of Anaconda Nickel eight months ago? Peter Johnston put his hand up and since then he has been wrestling to get it to higher ground. With joint venture debts of USD$730m, U.S. bondholders breathing down his neck and massive lawsuits with engineering firms in the air - it's not work for the fainthearted?
And by the time Peter Johnston stands before us on the first day of August, the future of Anaconda Nickel, one of the greatest corporate rescue efforts in Australia's mining history, will be on the line.

Meanwhile out in WA desert, the Murrin Murrin nickel laterite joint venture, Anaconda's major asset, is skipping ahead and clocked up to in excess of 15,000t of nickel for the half year. As Peter Johnston puts it, "...the trouble with this company is some people are obsessed with the war-stories of the past - but the future lies in front of us". It is a line he's driven hard when negotiating rooms full of aggrieved investors in New York. (One can only imagine that the more recent Enron and Worldcom debacles might have helped them put Anaconda's problems in perspective!) They must also take some heart from the JV's massive A$1.6b damages claim against Fluor Daniel for breach of contract, defective design and construction of the Murrin Murrin plant, and also for late completion and slower ramp-up of the plant. Peter Johnston will talk about his white-knuckle ride at Anaconda's helm and the new Anaconda he wants to build.
What future can you build with a past like that?
Armed with a B.A., Peter's extensive management experience has taken him through WMC and Alcoa and he has even directed operations at Tooheys breweries. We could suggest, writing a book about one of Australia's great corporate affairs might be his next job.
Don't miss it!

The Forum is held at the Tattersalls Club at 181 Elizabeth St, Sydney (adjoining the Sheraton on the Park). There has been a relaxation of dress rules at the Tattersalls Club so ties and jackets are no longer required.

Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.

Dear Sydney Mining Clubbers,
Many 'members' will pay $35 this month instead of their usual $30 reflecting the new schedule for charges in this flyer. Because - at least for now - the Sydney Mining Club uses a virtual membership, where people who have attended once automatically become members, we are removing the differing charges for 'members' and 'non-members' and replacing it with a flat $35 charge. If the additional cost represents a significant imposition to you, you need only let Sharon know in a return e-mail and you can stay with the $30 'concession' rate. All students remain at $10 so you should remind your student friends of this. I can assure you we are working hard to minimise the cost of your forum lunches.
At some time in the future we may move to a formal membership arrangement for the Sydney Mining Club so if you have any friends and colleagues to add to our 'virtual membership list', that is our e-mail list, now is the time to send their name and e-mail address to Sharon.
Julian Malnic.

AusIMM students $10, Concession Rate $30, Everyone else $35.
Corporate Table bookings (10 people) $350.00 (incl GST) per table

Please note any bookings received after close of business on the Tuesday prior to the lunch will automatically be charged a late fee of $10 per person.
The Tattersalls Club is at 181 Elizabeth St. Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry

The Sydney Mining Club


Fax bookings to 02 9416 2583

E-mail to:

(Other inquires call 02 9416 0666 and ask for Sharon Johnson)





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Note late bookings $10 extra!!