AN INTERVIEW WITH KARL SIMICH OF SANDFIRE RESOURCES
For a non-geologist, Karl Simich is very passionate about rocks. I had barely sat down
in the offices of Sandfire Resources when the company’s Managing Director and CEO
encouraged me to stand up again to peruse a diverse array of copper rock samples
on display. Some were vividly coloured and heavy, while others were lightweight, plain
and lacked lustre. All were surprisingly attractive, and I easily understood why
samples like these make appealing corporate gifts when fashioned by expert
craftspeople into cufflinks or pendants. As the interview with Karl progressed,
I quickly realised that Karl’s greatest fervour for rocks lies in his comprehensive
appreciation of their full commercial value.
Being a commerce graduate and accountant, with a background in business
and corporate finance, Karl Simich has long been motivated by delivering value
for shareholders. Of late, that value has indeed been delivered since, under
Karl’s watch, Sandfire Resources struck gold and copper at its Doolgunna
tenement near Meekatharra in April 2009, and was recently recognised as ‘Digger of
the Year’ at Kalgoorlie’s 2012 Diggers and Dealers conference.
Karl and the rest of the team at Sandfire are currently riding the crest of a wave.
The first shipment of high-grade copper from the mine’s open pit operations occurred
in May 2012, barely three years after discovery. Underground mine development
is also progressing on schedule, and there is an undeniable buzz in the air at the
DeGrussa mine. However things have not always been so rosy for the company and the
man behind it. With experience from five other mining operations, Karl has learned
important lessons through the significant challenges he has faced.
In the following interview, Karl is candid about just what a roller-coaster ride his
career to date has been, ranging from the depths of despair to unimaginable elation.
The Sandfire story alone has been far from plain sailing, and his life with the
Kimberley Diamond Company before that supplied both highs and lows. Even before
entering the resources industry, as a young accountant Karl confronted the shocking
fallout of the stock market crash of 1987, and prior to that, faced the crushing
disappointment of a sporting injury cutting his budding professional soccer career
dead in its tracks.
Energetic and determined, Karl has learned resilience from his every setback, and
his hard-working character makes him determined not to waste time or opportunity.
With strong family bonds throughout his life and continuing into the present day,
Karl articulates a fierce commitment to the importance of the team. Holding the line,
even in a stiff breeze, and knowing that a team is only as strong as its weakest link,
are lessons learned first from an influential father and his broader family, and then
from Karl’s soccer and sport-playing youth. Today, these same elements underpin the
ethos he brings to both his own life and that of managing Sandfire’s ongoing success.
Writer and Interviewer:
Jo Rollinson
What was your upbringing and early life like?
We had a simple, humble upbringing. I’m a second-generation
Australian. My father is Croatian and my mother is Italian.
My father left school at the age of 12 or 13 and had to go out
to work because his father – my grandfather – had passed
away before he was born, and my mother needed his help
financially. So he has worked for over 60 years as a tradesman;
a brick-layer.
It was hard work in those early days and we didn’t see a lot
of Dad because he had to work so hard, but it was a fun time.
We had lots of adventures. As kids, sport was a major part of
our lives. Everything was based around water: water-sports,
the beach and boats. And it was also very much based around
family and friends.
Whether it was school, or sport, everybody seemed to be
pretty full-on and committed to what they were doing – and
that was the fabric of how my parents were. Everyone had
a very strong work ethic, and that has been handed down.
I’m one of four children: a sister and three brothers. The
only thing my father always said to us was ‘Don’t do what
I’m doing, because it’s hard work’. So all four kids ended up
getting university degrees, and have done very well in their
different disciplines.
We see each other quite a lot, and we have a great
relationship. The folks are always trying to keep up with their
14
grandchildren! Last Christmas was the first time we were in
one spot together for many years. It was a lot of fun.
Our upbringing was fun, but firm. My father ran a very tight
ship, and you didn’t step out of line. If you did, you got a clip,
but we deserved it! We were so mischievous.
MINESITE 2012
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