The signing of letters of intent and memoranda of understanding are important instruments in developing business relationships and opening the doors to significant movement of goods and services.
During Mexico Mining Day at the 2017 Prospectors and Developers Association of Canada convention, an historic agreement was signed between the emerging mining State of Guerrero and the highly sophisticated Sudbury mining technology cluster. Over 400 people were in attendance, including the majority of SAMSSA’s board members. Tom Palangio, SAMSSA president, signed the letter of intent on behalf of SAMSSA and Brian Vaillancourt, vice-chair of the Greater Sudbury Development Corporation, signed on behalf of the GSDC. Ontario’s Ministry of Northern Development & Mines also supported the arrangement and agreed to participate and lead events.
The initiative began when Marc Serré, Liberal Member of Parliament for Nickel Belt attended the 13th Annual Pan-American Plenary Assembly in December and connected with interested Mexican officials in mining who wanted to partner with a mining leader who would closely work with the emerging mining centre in Mexico.
SAMSSA is always looking for opportunities for its members and immediately saw the value of a relationship. The Greater Sudbury Development Corporation, which has a mandate to expand the city’s mining supply and service sector, also agreed to embrace the opportunity to develop close ties between the two mining regions. Ian Wood, director of economic development, said, “It has been increasingly apparent that within the global mining sector the Sudbury mining cluster has become a magnet for partnerships and shared market intelligence.”
The Guerrero mining cluster includes companies and institutions linked to the mining industry in Guerrero, the number one Mexican state in geological potential for the next 10 to 15 years, according to the Mexican Geological Services. The Guerrero mining cluster is comprised of seven mining companies and local suppliers committed to responsible mining, and integrating and expanding economic and social development through training and human capital formation.
The GSDC, SAMSSA and Guerrero have identified potential opportunities to work together for mutual economic benefit.
The letter of intent is in effect for a period of three years unless terminated or amended with the consent of all parties.
The Sudbury Area Mining Supply & Services Association (SAMSSA) is a non-profit organization managed by a board of five industry leaders from Northern Ontario. Its mission is to “provide the most innovative and highest quality mining products and services for domestic and worldwide markets.” SAMSSA has 140 members from the private sector, educational institutions, financial sector and special agencies in mining exhibitions and centres that are partners in creating an awareness of the mining technology expertise available in Northern Ontario. SAMSSA provides a dynamic website that profiles every member and contains multiple news updates on companies and the mining industry with its daily News Update for members. It also brings keynote speakers and delegations to meet potential industry partners. The Sudbury mining cluster is considered one of the most robust centres of mining excellence in North America.