Inmet Mining and Schulich School of Business Announce $1 Million Gift for Schulich's Global Mining Management MBA Specialization
TORONTO, CANADA -- (Marketwire) -- 11/30/12 -- Inmet Mining Corporation (TSX: IMN) ("Inmet") today announced a one million dollar gift to the Schulich School of Business at York University ("Schulich") to support Schulich's new MBA specialization in Global Mining Management. The Inmet gift will be fulfilled by four annual payments of $250,000 in each of the years from 2012 - 2015.
The Inmet gift will be used to further the growth and development of the Global Mining Management specialization through increased teaching capacity, academic research, industry outreach and scholarships. The specialization is the most comprehensive management education program of its kind and was established to meet the mining industry's concerns about a looming shortage of mining executives to manage the industry's growing complexities and challenges in the coming decades. Graduates of the Global Mining Management specialization will not only work in the mining and resource-related industries, but will also pursue careers with financial institutions, engineering companies, and consulting, accounting, legal firms and other sectors that service the mining industry.
"Schulich's MBA specialization in mining is helping to prepare future business leaders for a key industry in Canada and around the world," said Dezso J. Horvath, Dean of the Schulich School of Business.
"Inmet is taking a leadership position in addressing a significant need for the entire mining industry," said Richard Ross, Director of Schulich's Global Mining Management program and an executive-in-residence at the school. "This gift from Inmet is a major step for Schulich's Global Mining Management program in meeting its vision of developing and mentoring the next generation of business leaders in one of the world's most vital and challenging sectors."
Jochen Tilk, President and Chief Executive Officer of Inmet commented "We understand the critical need for sector-specific training and study, and are pleased to recognize the grounding being offered through Schulich's Global Mining Management program. We are particularly proud to support the focus on corporate responsibility, since skills in this area have become essential for a well-rounded mining executive."
The Inmet gift will be announced by Jochen Tilk at a private luncheon and reception to be attended by senior academics and industry representatives. Following the reception, Tilk will deliver the opening keynote address at the Schulich International Case Competition, which focuses on community engagement in the mining industry. Inmet is the core sponsor of this year's case competition and Craig Ford, Inmet's Vice President, Corporate Responsibility is one of the competition's judges.
About Inmet
Inmet is a Canadian-based global mining company that produces copper and zinc. Inmet has three wholly-owned mining operations: Cayeli (Turkey), Las Cruces (Spain) and Pyhasalmi (Finland). The company also has an 80 percent interest in Cobre Panama, a development property in Panama, currently in construction.
About Schulich
Known as Canada's Global Business School™, the Schulich School of Business at York University in Toronto is ranked among the world's leading business schools by a number of global surveys.
Contacts:
Inmet Mining
Flora Wood
Director, Investor Relations
(416) 361-4808
flora.wood@inmetmining.com
www.inmetmining.com
Schulich School of Business
Richard Ross, Director of Schulich's Global Mining
Management specialization and Executive-in-Residence
416-736-2100, ext. 66532
rross@schulich.yorku.ca
www.schulich.yorku.ca
