Ian Runge
Engineer, Business Strategist

Australian

Address:
Capital Strategy Pty Ltd,
GPO Box 569,
Brisbane Qld. Australia 4001

Ph: (07) 3210-2788
Fax:
E-mail: irunge@runge.com

Current
Position

Managing Director, Runge International Pty Ltd
Director (non-Executive), Runge Limited

Background/
Experience

1974 – 78............ Employed as mining engineer for § Utah Development Company, Saraji Mine, Central Queensland; § Shell International Petroleum Mij, The Hague, Netherlands, § Miller Mining, Yorkshire, U.K. Involved in operations, planning, and feasibility studies for mines in Australia, Indonesia, South Africa, U.K. and in development of computer software for mine planning and evaluation.

1977 – 92............ Runge Limited (founded 1977, then: Runge Associates). Founder, Chief Executive and Senior Professional — technical consulting, economic assessment, and development and supply of computer systems for mine planning and mine valuation. Now one of the world’s largest organizations in the mining technology and services field, Runge Ltd exports to more than 20 countries from its head office in Brisbane and from its 13 other offices in Australia, USA, Canada, Chile, Malaysia, and RSA.

1993 – present.... Runge Limited. Non-executive Director and largest shareholder. Establishment and implementation of internal corporate governance processes.

1993 – 96............ George Mason Univ., Virginia, USA - Ph.D. (Economics)

1997 – present.... Capital Strategy Pty Ltd. Executive Director. Independent advisor in business strategy focusing on capital intensive enterprise. Author of two books. Various non-executive directorships. Management of private investment portfolio.

Ian Runge has unique experience in both small and large business—from the start-up and management of his own entrepreneurial technology services organization, to strategic planning and financial analysis of the world's largest resource projects. He is recognized as a world authority in mining economics and mine design and over a period of 25 years he has consulted extensively for RioTinto, Shell, BHP-Billiton, ARCO, Sasol, and other world leading organizations and many smaller organizations. Ian Runge’s experience extends from the theoretical to the practical, and from the local to the international. One the one hand he has earned higher degrees in both engineering and economics in Australia and USA. On the other he grew up in the local limestone and quarrying industry—operating equipment such as crushing plant, trucks, graders, front-end loaders, dozers, and draglines from his early teens. He is an instrument rated pilot.

Formal
Educational &
Operational
qualifications:

Bachelor of Engineering (Hons, Mining, Univ. of Queensland) 1974
Master of Engineering; (Univ. of Queensland) 1997
Master of Arts, George Mason Univ., Virginia, USA, 1995
Ph.D. (Economics), George Mason Univ., Virginia, USA, 1997
Plant Operator (Earthmoving machinery, Qld.), 1976
Pilot (Instrument rated, multi-engine), 1985, 1987, 1989

Professional
Affiliations

Fellow, Australasian Institute of Mining and Metallurgy
Fellow, Australian Institute of Company Directors

Publications

Papers: (5 examples of approximately 25 published articles and papers)

· Runge, I. C., (1996) Entrepreneurial Choice and Uncertainty presented at the Annual Meeting, Southern Economic Association, Washington, D.C., Nov., 1996

· Runge, I. C., (1995) Economics, Technological Change, and the Knowledge Problem APCOM XXV, Proceedings, Application of Computers and Operations Research in the Minerals Industries (Melbourne: Australasian Institute of Mining and Metallurgy)

· Runge, I. C., (1994) Uncertainty and Risk in Mineral Valuation—A Users Perspective Proceedings, VALMIN '94, (Sydney: Australasian Institute of Mining and Metallurgy)

· Runge, I.C., (1992) Maintaining and Improving the Economics of Open Pit Mining. Keynote Theme Address, Proceedings, Third Large Open Pit Mining Conference, (Melbourne: Australasian Institute of Mining and Metallurgy)

· Runge, I. C., (1990) Assessing Risk and Capital Investment Criteria in Mining Projects Proceedings, Mincost '90, (Sydney: Australasian Institute of Mining and Metallurgy)

Books:

· Runge, I. C., (1998) Mining Economics and Strategy Denver: Society of Mining, Metallurgy and Exploration.

This book is the best selling text book published by SME. It is the primary textbook used for the teaching of economics in mining schools throughout the world and as a reference book for mining economics and mining strategy practitioners.

· Runge, I. C., (2000) Capital and Uncertainty Cheltenham, U.K.: Edward Elgar

This book sets out the theory and application of the process of capital investment decision-making in a market-based economy, including comprehensive analysis of the risk/return trade-off and processes for handling same.