Resource development and banking --a positive partnership (A Synopsis)

CIM Bulletin, Vol. 75, No. 847, 1982

RONALD E. PIKE, The Toronto-Dominion Bank, Toronto, Ontario

At the CIM Annual General Meeting in Quebec City, R.E. Pike of The Toronto-Dominion Bank described how the Canadian banking industry worked with the minerals industry to assemble the large capital requirements for resource projects in Canada and overseas. He developed a profile of the mining industry and Canadian banking, both being important sectors of the Canadian economy and global in context. He also outlined the banking and financing partnership that existed in the past. In looking to the future and challenge that lies ahead for each industry, Mr. Pike questioned whether the financing practices of the 1970s will be acceptable over the next decade. In that regard, he highlighted the risks that impact on each industry and illustrated how that financing partnership might evolve in response to those forces. The following is a synopsis of his paper.