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For a mining company, going into a negotiation there are often multiple issues to resolve. It is important to get all of them on the table before you start. Nothing can derail a negotiation faster than raising new issues at the last minute. Besides suggesting bad faith, it can often…
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Often parties to a negotiation think that is a sign of weakness to agree to meet at the other party’s office, instead of a neutral place, or ideally their own office. I disagree. By meeting at your counter-party’s office you: • Demonstrate a willingness to get a deal done.…
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Often parties to a negotiation—not only mining companies, but they too—are very reluctant to put in the first offer and prefer to wait to see what the other side proposes, but there are good reasons that you might be better off making the opening offer. Here are some: Putting in…
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One of the fundamental mistakes made in negotiation is “bidding against yourself”. That is, putting an offer on the table, and then improving it, without receiving a counter-proposal from the other side. This mistake is particularly prevalent where there is an imbalance of power in the negotiation. For example, where…
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It may sound obvious, but sometimes negotiations in the mining industry are not worth pursuing once it becomes apparent that there is a better alternative to the proposal being negotiated. I remember once when I was working on a financing for a mining company, the term sheet which seemed very…
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Tag: mining
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