The history of the London Mining Club (LMC) dates back to the early 1970s following the upsurge of interest in investing in mining, following the Australian mining boom of the late 1960s and the gold boom that then followed into the 1970s. Originally named the Association of Mining Analysts (AMA), it was set up with the aim of improving the quality of mining investment knowledge and understanding within London's mining investment community. It was formed by establishing the informal get-togethers that preivously took place at the old Mining Club on London Wall, where mining industry professionals used to regularly meet.
Early Years of the AMA
In its early days membership of the AMA was confined to those with at least two years of minerals industry experience or mining analysis - no press were allowed. Membership flourished due to the seriousness with which London covered the global mining industry. As a result there were a large number of qualifying personnel working in the City both on the sell and buy side. In due course membership was extended to cover persons with a working connection to the industry. This led to the inclusion of service providers, academic communities, media and public relations, as well as interested active private investors.
Right from its official inception the AMA organised meetings which were addressed by leading mining industry figures. At that time the concept of analyst briefings was relatively undeveloped, and for a number of years the AMA meetings constituted one of the only forums for mining companies to communicate what they were doing to the market. The AMA’s focus then was primarily on inviting the major groups like RTZ and Consolidated Gold Fields to address the membership. In the 1980s, companies increased the tempo of their own public relations efforts and the bigger mining groups began to expand internally their investor relations departments. At the same time ‘big bang’ in London started a process of tightening regulations relating to corporate information disclosure.
Renaming to become the London Mining Club
In more recent years, the AMA continued to host presentations by the mining industry’s leaders, however with the changing landscape of an increasingly crowded international conference calendar, as well as a shrinking of the investment community in London, the AMA changed to be an more inclusive entity for all mining professionals. In May 2020, the AMA renamed to become the London Mining Club. However, the objective of the London Mining Club today, renames the same as that of the Association of Mining Analysts in when it was formed in the 1970s; to provide a networking and educational forum for London's mining professionals.