title: The History of Mining: The events, technology and people involved in the industry that forged the modern world
author:  Michael Coulson 
description: Born in 1945 Michael Coulson has been associated with the mining sector for over 30 years, although his university background is in economics where he holds a BSc from the University of London. He first worked as a graduate trainee on the legendary mining desk at James Capel in 1970, for many years the leading mining stockbroker in the City. After that he became a mining salesman at Sterling &amp; Co and also developed the firm's research coverage of the sector. In 1973 he joined Fielding Newson-Smith (later to become NatWest Markets) as a gold mining analyst where he began a long association with the South African gold mining industry. Two years later he became senior mining analyst at L Messel (latterly Lehman Bros) where he started to produce an annual gold review which he published every year until 1991. In 1979 he moved to Panmure Gordon and in 1982 he left and joined Phillips &amp; Drew (UBS) with the task of establishing the firm in the mining market. After a successful four years there, where two years running he was voted No 2 gold analyst in the Extel Analysts Survey, he moved to Kitcat &amp; Aitken where he set up a highly regarded integrated mining desk. In 1990 K&amp;A's Canadian owners closed the firm and he was briefly with County NatWest. The following year he set up a small mining team at Durlacher, but in 1992 was back in the mainstream at Credit Lyonnais Laing where he was a salesman/analyst on the firm's specialist mining team and established an expertise in African shares. He was then approached by South African bank, Nedcor, to join a start-up broking operation the bank was establishing in London. This operation was closed in 1997 and the following year he joined Paribas to head its Global Mining Team. He left Paribas in 2000 following the completion of the merger with BNP. Since then he has been doing independent research, mainly on a commissioned basis, primarily for small UK brokers lacking mining expertise. He also wrote An Insider's Guide to the Mining Sector for Harriman House, which has run to two editions and has been translated into Chinese. He is currently a non-executive director of City Natural Resources High Yield Trust. Michael lives in Wandsworth with his wife and has three daughters and two granddaughters. He has a lifelong passion for cricket and football and as befits a veteran miner, albeit of the armchair variety, also enjoys a glass or two of wine as he contemplates strategies and projects for the future.
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  Copyright © 2021 by Fredrick Martins
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  All rights reserved. No part of this publication may be reproduced,
  distributed, or transmitted in any form or by any means, including
  photocopying, recording, or other electronic or mechanical methods, without
  the prior written permission of the publisher, except in the case of brief
  quotation embodied in critical reviews and certian other noncommercial uses
  permitted by copyright law.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Table of Contents
  
  
  
  
  
  
  
  
  
  
  
  Introduction
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  What Iѕ Bіtсоіn?
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  The Hіѕtоrу оf Bitcoin
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Whеn Dіd Bіtсоіn Start?
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bіtсоіn Prісе Hіѕtоrу
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bіtсоіn Tоdау
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bitcoin Tоmоrrоw
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Who Is Sаtоѕhі Nаkаmоtо?
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bіtсоіn аѕ a Form оf Pауmеnt
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bitcoin Mіnіng
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Whаt іѕ Bіtсоіn Mіnіng?
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bаѕісѕ оf Bіtсоіn Mining
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bіtсоіn Mining Analogy
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Bіtсоіn vѕ Traditional C