About BJT Geoscience
The purpose of the business is to provide professional services, advice and career development training to companies and individuals who lack it or need to supplement in-house geoscience expertise. Providing Continuing Professional Development (CPD) opportunities for geoscientists is a key element of the Company’s plans.
Why This Is Important
In 1997, census data suggested that 40% of all active geoscientists would be retiring by 2002 and a further 25% by 2005. This, in fact, came to pass. The natural resource industries had been in recession since the early 1980s, discouraging new people from seeking careers there. Consequently, nowhere near enough young geoscientists entered the discipline to fill the rapidly depleting ranks. Further, the Bre-X scandal produced a demand for a third-party evaluation of resource estimates produced by companies seeking investment.
Publication of NI 43-101 and NI 51-101 by the Canadian Securities Administrators and codes of practice for resource quality and quantity estimation by the CIM would result in a shortage of qualified people when the resource industries returned to the field to replace their reserves. That happened by 2015, just in time for the next abrupt halt to both the metals and energy sectors, which persists to 2019. The oil and gas industry has been hardest hit, with an estimated 40% of qualified professionals unable to find work in their field.
Metals mining is providing work for many geoscientists, with demand for battery and semiconductor minerals providing the boost, leaving the Oil and gas business with a much-reduced reservoir of trained people.
The commodities cycle is inexorable and over the next 12 months, there will be a surge in demand for skilled people, licensed individuals who will need their knowledge updated. There will also be a demand for new entrants who have little or no experience or proven skills in the natural resources industries and especially in geophysical and geological data acquisition and handling sectors. BJT Geoscience is positioning itself to take advantage of this need.