Ross Beaty's Mining Story

At the tender age of 30, with limited financial resources for his first venture, Ross Beaty embarked on a remarkable journey that would shape his destiny. With a mere 

At the tender age of 30, with limited financial resources for his first venture, Ross Beaty embarked on a remarkable journey that would shape his destiny. With a mere $3,000 investment, he acquired $0.01 seed stock in his first public company, a bold move that laid the foundation for a storied career in resource exploration. In this extraordinary life story, Beaty's path weaves through the rugged landscapes of British Columbia and the remote wilderness, where he spent months in a tent during his early forays into the world of geology.

Born and raised in Vancouver in 1951, Ross developed an early fascination with the outdoors and the Earth's minerals. He pursued his education, earning a geology degree from the University of British Columbia in 1974, followed by a Mineral Exploration degree from the University of London in 1975. He later returned to UBC to obtain a law degree in 1979. This diverse educational background would prove invaluable in his future endeavors.

Ross's journey into the world of resource exploration began with his own consulting company, Beaty Geological Ltd, in the late '70s. He explored various regions of British Columbia and western North America, gaining valuable experience. One significant turning point in Ross's career was the establishment of Equinox Resources in the early 1980s when he founded Equinox Resources, a gold mining company. This venture ultimately led to the discovery of the Rosebud gold mine in Nevada, a milestone that resulted in Equinox Resources being acquired by Hecla Mining Company in 1994, in a merger valued at $107 million. This early success set the stage for Ross's subsequent ventures.

In 1994, Ross founded Pan American Silver, which would become one of his most significant achievements. Ross saw the future importance of silver as a precious metal and assembled mines and deposits at low prices, ultimately making Pan American the world's second-largest primary silver producer. The company's growth was organic, with operations spanning countries such as Peru, Mexico, Bolivia, and Argentina. Despite facing challenges, Ross remained dedicated to hands-on geological work, and his commitment to responsible mining practices and community well-being became central to his approach.

In the early part of the last decade, Beaty and his team acquired a handful of large copper assets for next to nothing when the price of the commodity was below $1.00 per pound. In 2003, the first Lumina company was born and was taken public at $1 per share. Since then, the group has sold five companies under the Lumina umbrella:

• Lumina Resources was sold to Western Copper for C$30 million in 2006 for properties in BC, the Yukon, and NWT.
• Regalito Copper was sold to Pan Pacific Copper for C$151 million in 2006 for its Regalito project in Chile.
• Northern Peru Copper was sold to China Minmetals and Jiangxi Copper for C$463 million in 2008.
• Global Copper was sold to Teck Cominco for C$415 million in 2008 for its major Relincho project in Chile.
• Lumina Copper was sold to First Quantum for C$470 million in 2014 for its Taca Taca copper deposit in northwest Argentina.

Ross's success wasn't limited to mining; he expanded his horizons in the early 2000s to renewable energy. His environmental consciousness led him to co-found a geothermal power company in 2008, which later merged to create Alterra Power in 2011. This company operated renewable energy plants in Canada, Iceland, and the USA, further demonstrating Ross's commitment to sustainable practices.

Beaty is not just an investor in his own ventures; he also supports other people's endeavors. For instance, in 2008, when Ventana Gold struck a significant gold deposit in Colombia, Beaty steadily acquired a 17% ownership share in the company. Beaty's investment paid off handsomely when Eike Batista acquired Ventana for $1.5 billion in 2011.

Beyond his business ventures, Ross was deeply passionate about environmental causes and philanthropy. He established the Sitka Foundation, contributing $3.5 million annually to support over 72 environmental organizations. He was also a significant donor to institutions like the Britannia Mine Museum, the University of British Columbia, the Canadian Museum of Nature, and Queen's University, further reflecting his commitment to making a positive impact on the world.

Presently, Ross Beaty is engaged with Equinox, which he describes as his last company adventure. Its inception in 2017, born from the union of Trek Mining, Anfield Gold, and Newcastle Gold, set the stage for a series of strategic acquisitions aimed at enhancing its scalability. Notably, in 2018, Equinox added the Mesquite mine from New Gold to its arsenal, and in 2019, it merged with Frank Giustra's Leagold. The year 2020 witnessed Equinox's acquisition of Premier Gold Mines.

As it stands today, with seven operational mines and a substantial gold reserve, Equinox Gold serves as a fitting culmination of Ross Beaty's remarkable career. His life story transcends financial success, embodying a profound commitment to our planet, the environment, and the well-being of the communities he has touched. His legacy is one of dedication, visionary leadership, and a sincere aspiration to contribute to a better world through responsible mining and the promotion of renewable energy.