The 2nd Russian-UK Raw Materials Dialogue

19 Nov 2018

On 24 October 2018, IOM3 held the 2nd Russia-UK Raw Materials Dialogue alongside our partners St Petersburg Mining University, Russia, with a focus on knowledge exchange and the needs of the financial markets. 

The programme included panel discussions and poster sessions as well as Q&A sessions to showcase London as the global mining financial hub, and provide discussions between mining and financial professionals. 

The Russia-UK conference was set up as part of a strategic partnership in 2015 between IOM3 and the Russian university to establish a relationship between the two countries, which would be followed by a series of annual events. 

During the event in October an agreement was signed between the IOM3 CEO Bernie Rickinson and the Rector of the Saint Petersburg Mining University, Vladimir Litvinenko, to start a local society in St Petersburg. Bernie Rickinson commented, ‘This is a big step in linking with the University and I hope this will prove a valuable asset for career development for young people’.

Topics at the conference included business climate in the raw materials sector, trends in the mining industry, international reporting codes and educating engineers in the financial appraisals of mineral resources.

IOM3 President, Martin Cox, opened the ceremony alongside Rector Litvinenko. Cox in his opening address said, ‘Much has happened since we met last year in St Petersburg. IOM3 and St Petersburg University have made substantial progress with joint activity since the partnership initiated in 2015-16 in the growth of professional development, visiting lectures taking place and active young members in this year’s Young Persons’ Lecture Competition.’ 

The Rector expressed that they wish to make the Russian market more transparent adding, ‘I am very glad that both countries are in the same position. I hope that the next dialogue event that takes place in Russia will bring together young professionals and we hope there will a better knowledge of the British economy and of mining and hopefully change the attitude of mining.’ 

‘I would like to thank the IOM3 team who worked very hard to make this event successful, to our speakers and delegates for joining us today as well as those in Russia,’ said Rickinson.

Young Persons Researchers’ Event

One of the most important relationships within the Russia-UK dialogue is involving more young people in the profession and encouraging mining as a potential career path in future. As the CEO of IOM3, Bernie Rickinson said, ‘It is important to grow the hub of membership of young people in different countries.’ 

The Young Researchers’ event took place on Tuesday 24 October 2018 when Russian and UK students were brought together for a team development day involving a societal challenge and business opportunity task. The 10 teams were asked to provide a 3-minute pitch and diagram to a panel of expert judges, presenting a new product idea that would help to reduce or remove the effect of water damage in homes.

The discussions and interactions proved challenging between the two countries, as the task was not only a technical challenge but also required business elements including the cost and manufacture of such a product. The teams found it difficult to provide a viable solution that would not just involve the engineering of a product but also the business behind it. This in turn with cross-cultural working and teamwork is something that IOM3 can help to develop by providing the softer skills that these young students require for future business. 

Young Researchers’ Event - Matopoly: London

To recognise the importance of teamwork and communication, IOM3 set up a special edition of Matopoly: London specifically for the Young Researchers’ Event. The aim of the event was for the participating teams from Russia and the UK to visit as many as possible of the locations specified on the Matopoly board within four hours. The locations had a materials, minerals and mining theme and were dotted around the city. The 10 teams visited some of London’s most iconic spots including Buckingham Palace, Zinc House and Nelson’s Column. One of the Younger Members from Russia said, ‘It was so much fun, we got carried away at some of the sites as London is so beautiful’.

Congratulations to the winning team ‘Easy Peasy Cheesy Squeezy’ (shown below) who won with 269 points. Each member of the winning team was awarded a Monopoly: London Edition board game.