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By Craig Roberts

"While various methods are available to estimate a mining project's value, value is only established through a transaction. Comparable methods allow the value estimated for a mining project to be benchmarked against mining project values established in the market. Comparable methods thus are a key tool for ensuring value estimates are congruent with what the market would actually pay. For example, if the value estimated for a mining project using discounted cash flow analysis differs significantly from the value implied using comparable market methods, the valuator may be using metal price or discount rate assumptions that differ significantly from those the market is currently willing to pay for.The paper provides an overview of market comparable valuation approaches, and discusses some of the difficulties and limitations that arise in using these approaches. The types of market values that are typically utilised are discussed, including asset sale prices, share prices (market capitalisations), and values established in corporate mergers and acquisitions. Topics discussed include methods used in estimating a mining project's value based on the market value of the company that holds the asset, and limitations that arise because of unique features of mining projects and of companies that hold them.It is concluded that market comparable and fundamental (e.g. NPV) approaches to project valuation should not be viewed as alternative approaches to estimating project value, but rather can and should be integrated to derive a single value estimate based on both market andfandamental data. A method for integrating these approaches is discussed, and illustrated by example."

Jan 1, 2003

By D. C. McKechnie

To the examining engineer, the ever-recurring problem involving the valuation of ore in a prospect presents at different times highly divergent aspects- some entirely physical or mathematical, others essentially personal. The majority of the problems discussed in this paper are obvious to the engineer, and need little elaboration. By the prospector and the general public, however, a number of these questions are often and completely over-looked, or else approached in such a way as to produce final results which are, to say the least, misleading and at times decidedly erroneous. While the purpose of this paper is to deal with prospects or potential mines, many of the problems considered apply equally well to mines with developed ore reserves. As the usual showings on a prospect consist chiefly of a few open-cuts and a limited amount of underground development work, an estimation of the actual ore reserves is a question of minor import, and seldom enters appreciably into an estimation of the probable value of the particular property. The physical valuation of a prospect mainly involves the consideration of such subjects as the general geological features exposed, the strength and type of mineralization, the width and persistence of any associated veins, shear zones, fractures or contact zones, together with the possible grade, size, and continuity of any ore-bodies that may there occur.

Jan 1, 1930

By Keith Jones, Largo Albert

"Decelerometer testing of a rigid guide system in a mine shaft pro vides usefuI information to operating and maintenance people. High acceleration/deceleration rates can lead to high maintenance costs to bath conveyances and shaft and can also present an operating risk . Possible disastrous results in the shaft have been avoided by restricting the maximum conveyance speed until the shaft and/ or conveyance problems have been solved.The test instrument is a valuable aid especially during commissioning or updating of a hoisting installation. High acceleration/deceleration rates also lead to reduced hoist rope life. During the past fourteen years, a total of 15,000,000 feet of testing was performed in 74 assorted shaft compartments.Based on this experience, it is possible to establish acceptable conveyance maximum speeds provided that all other conditions in the shaft compartment are normal. The body of the paper will present examples of several tests made under actual operating conditions.IntroductionMore and more mine operators are recognizing the real value in the use of the decelerometer for determining the state of shaft guide alignment in their shaft compartments , not only during the initial mine start-up periods, but also on a regular basis while the mine is in production.Decelerometer testing, is a technique in which an accelerometer , commonly known as a decelerometer, is used for measuring conveyance acceleration/deceleration in a lateral plane. lts purpose is to determine the severity of shock loads produced by misaligned shaft guides. Testing is performed by mounting the instrument on the conveyance and operating the conveyance (empty and loaded) at various speeds up to and including full speed . However, full speed may not be attained due to conditions indicated by the tests. These conditions may present an operating risk to the plant."

Jan 1, 1984

By Douglas Brand

"The data that many mineral processing plants make use of, is provided by samples taken from sampling systems which are inadequately designed or improperly maintained, and therefore cause detrimental effects to plant operations, production planning and metallurgical accounting! Poorly designed or maintained sampling systems will likely produce low probability samples which give the operator a false sense of security of the product and the process. If data is the basis for action (Flintoff, 1992, p.2), then using the resulting suspect or bad assays by operators, control systems, or metallurgist and administration personnel will act and make decisions which may adversely affect the profitability of a processing plant. Here we will discuss some of the fundamental sampling problems, propagation of errors and a method to estimate what impact this has on an operations Net Smelter Return.INTRODUCTIONIn order to control a mineral processing plant at its best potential, it is necessary to obtain the best possible measurement results of the metal or mineral in question. The sample which is delivered to a measuring instrument, or lab, needs to be of the highest probability to be able to achieve this. This paper will discuss the effects of sampling errors on grade / recovery and grade / Net Smelter Return (NSR) and provide a method to estimate the monetary advantages of using probabilistic sampling in a processing plant.REVIEW OF SAMPLINGSampling, by definition, is the removal of a small representative portion from a total consignment, or flow, for the purpose of accounting or process control.• A sample can only be considered representative, if each and every increment collected, in each of the sampling stages, is representative.• Each particle of the sampling lot must have the same probability of being included in the final sample.• If both of the above conditions are met, then the final sample will be representative of the complete sampling lot.It is commonly known that in order to take truly representative and probabilistic sample, best practices indicate that:• The total stream should be sampled.• The sample cutter should intersect the sample at right angles to the flow.• The sample cutter should travel through the stream at a linear and constant speed and the speed deviations should be less than 5%."

Jan 1, 2016

By John C. Luck Jr.

"DEVELOPMENT of oil emulsion mud dates back to the early days of rotary drilling when oil was added to the drilling mud solely for the purpose of freeing stuck drill pipe. After the drill pipe was freed, and drilling resumed, this oil was considered a contaminant. Efforts were made to remove the oil but some of it remained and was emulsified with the drilling mud, thus forming a mechanical emulsion.During the late 1930's, operators found that adding crude oil to drilling muds seemed to alleviate 'sticky-hole' problems and so oil was allowed to remain in the mud. This practice was adopted when it was found that faster drilling rates and longer bit life were obtained. These observations led to the development of emulsion drilling muds. During the past five years their application has become more widespread because of the lower fluid losses obtained, greater lubrication qualities, faster penetration rates, and generally better hole conditions.An emulsion may be defined as a two-phase system consisting of a mixture of either finely divided oil droplets in water or of finely divided water droplets in oil. The surrounding liquid is known as the continuous phase. The emulsifiers reduce the interfacial tension, making the droplets tend to repel each other so that they remain dispersed and stabilized. These emulsions are classified as oil-in-water or as water-in-oil, depending upon whether water or oil, respectively, is the continuous phase. Briefly, close inspection shows that they consist essentially of globules of• the one liquid suspended in a continuous mass of the other liquid. Oil emulsion muds are usually of the oil-in-water type. Two basic types of emulsifiers •commonly used in Canadian muds are soaps and lignites."

Jan 1, 1954

By Chris Bennett, Glen Kosick

"Process modeling and equipment sizing procedures for SAG circuits has advanced significantly over the past two decades. However, no matter how exact the hardness tests, models and scale-up calculations, if the ore samples being used for design do not accurately represent the orebody then major design errors can be encountered. This paper will describe a hardness testing method for identiQing the power requirement profile of an orebody, to an extent that design errors due to poor sampling can be greatly reduced or avoided altogether. It will provide some insight into the magnitude of hardness variability that can be encountered in an orebody. Finally, the paper will preview how detailed hardness distribution data can be incorporated into mine block models, to optimize SAG circuit design for an orebody, both fi-om a capital investment and throughput point of view.INTRODUCTIONIt has long been known that many SAG/AG' circuits experience wide swings in throughput. These throughput variations are almost always of a magnitude not anticipated in the plant design; consequently, they are detrimental to the expected return on investment for the mining companies. It is clear that the throughput swings are mainly caused by changes in ore hardness. In 1993, in an attempt to address this problem, MinnovEX began investigating the possibility of using a small scale SAG test (2 kg charge) to predict SAG power requirements from drill core samples. The objectives of the small scale test were to enable mining companies to do many more SAG hardness tests than currently undertaken for a particular orebody. To make this possible, the SAG tests had to use a minimal amount of sample, be cost effective, and give acceptable accuracy in the prediction of SAG power. If this small scale SAG test proved accurate, then the high sampling frequency would yield results that approach the true hardness distribution of an orebody. This hardness distribution could then be used to derive the distribution and variability of specific energy required throughout the complete orebody. This specific energy (kWh/t) can be thought of as the power required to grind one tonne of ore per hour (kW/tph) to a specified size. Once the true distribution of power requirement throughout the whole orebody is understood, the grinding circuit design team can make an informed decision regarding the hardness value that is most appropriate for sizing the SAG equipment. Throughput losses due to hardness variation could be deliberately planned for or avoided altogether (a capital cost decision)."

Jan 1, 1999

By K. G. Chipman

The Geological Survey is the oldest map making department in the Canadian Government service, and when organized in 1842, one of the first principles to be recognized was the absolute necessity of having good maps. The primary purpose of the Survey has always been geology; but because a graphic representation by means of maps makes the written report .more readily intelligible; because the correlation of known geological facts is often difficult or nearly impossible unless they can be represented on a map; and, because the public demand information shown in this way, the Geological Survey must continue to supply maps; and the supplying of these maps must be considered as an essential part of the work of the Survey. It is a commonly recognized principle of pedagogics that an appeal to the eye is quicker than one to the ear; that children (and others) learn more quickly when a thing is presented to them through the eye rather than through the ear. The application of this principle to the work of the Geological Survey is that, to a large number of people, the message of a map is more quickly grasped, is more readily intelligible, and is in many ways of more interest and value than is the same information in a report. I do not mean that the maps are of more importance than the reports.

Jan 1, 1924

By J. H. Archibald

"This paper describes the use of vector analysis for determining the intersection of mineral deposit veins. The mathematical evolution of the analysis is outlined.IntroductionMany mineral deposits can be characterized by sets of intersecting veins. Often a vein will have a steep dip and may intersect with another similar vein. Finding the intersections of these veins is usually done by graphical means. Structural geologists, by the methods of descriptive geometry, can usual ly predict where intersections of veins will occur. This method normally requires accurate drafting and layout of the problem and does not always lend itself to solution in the field.Another method for solving this problem involves the use of vector analysis, which is easily adapted to hand-held programmable calculators. It is assumed at the outset that the reader is familiar with the dot and cross products used in vector analysis. Two excellent references are cited at the end of this note for convenience.A plane, in general, is defined by three points. The points of interest here are the points where three vertical drillholes penetrate the vein, or plane, in question. The elevations of these three points are best referred to sea level. This requires knowing the elevation of the collar of the drillhole above sea level and the drillhole depth from the collar to the vein. The elevation of the intersection point is then found by subtracting the hole depth from the collar elevation. These three points now define the plane of the vein. A similar set of three points will define a second vein, and it is our object to show analytically their intersection if it exists."

Jan 1, 1983

By S. G. Hardcastle, C. K. Kocsis

"Worldwide, metal mines are going deeper. For example, in Canada there are six such mechanized mines planning production at 3000 m (10 000 ft). Working at such depths challenges all aspects of mining including the provision of ventilation to supply an equitable working climate for personnel and machinery.This paper explores the overall challenges of supplying ventilation in Canada’s deepest mines and how the volumes required could be minimized. This is essential because it must be remembered that ventilation and refrigeration are not only costly items to supply, but the magnitude of their cost is also very sensitive to the volume supplied. For the primary ventilation system this is obvious because of the cubic relationship between volume and cost.In deep mines, the main function of ventilation is the removal of heat transferred from the strata and generated by the mining machinery, and the air volumes supplied are designed accordingly. The second consideration is the removal of other pollutants that could be harmful to humans such as diesel and explosive fumes. However, the need for ventilation at its present design levels could be reduced. This paper discusses the implications of such technologies as: tele-remote mining and alternatives to diesel equipment on the magnitude of the volume supplied; ventilationon- demand which recognizes ventilation as a costly and limited resource; plus other aspects, such as the benefits of controlled recirculation, local cooling, and possibly heat rejection back to the strata to gain further advantage from new developments.Furthermore, this paper advances the need to be able to design ventilation systems more cost effectively and how such new advances as process simulators can be used in conjunction with ventilation simulators to explore the diverse options that could affect the air volumes required and provide more realistic economic data upon which to base design decisions."

Jan 1, 2004

By Stephen G. Hardcastle

Worldwide, metal mines are going deeper. For example in Canada there are six such mechanized mines planning production at 3000m (10,000?). Working at such depths challenges all aspects of mining including the provision of ventilation to supply an equitable working climate for personnel and machinery. This paper explores the overall challenges of supplying ventilation in Canada?s deepest mines and how the volumes required could be minimized. This is essential because it must be remembered that ventilation and refrigeration are not only costly items to supply, but the magnitude of their cost is also very sensitive to the volume supplied. For ventilation this is obvious because of the cubic relationship between volume and cost. In deep mines, the main function of ventilation is the removal of heat transferred from the strata and generated by the mining machinery, and the air volumes supplied are designed accordingly. The second consideration is the removal of other pollutants that could be harmful to humans such as diesel and explosive fumes. However, the need for ventilation at its present design levels could be reduced. This paper discusses the implications of such technologies as: teleremote mining and alternatives to diesel equipment on the magnitude of the volume supplied; ventilation-on-demand which recognizes ventilation as a costly and limited resource; plus other aspects, such as the benefits of controlled recirculation, local cooling, and heat rejection back to the strata to gain further advantage from new developments. Furthermore, this paper advances the need to be able to design ventilation systems more cost effectively and how such new advances as process simulators can be used in conjunction with ventilation simulators to explore the diverse options that could affect the air volumes required and provide more realistic economic data upon which to base design decisions.

May 1, 2003

By R. A. McIvor, R. S. Rafuse

"INCO Limited purchased a custom designed mobile hoist rope winder/tensioner in 1988 from TimberLand Equipment Limited to handle Large hoist ropes and serve as an emergency hoist. This paper describes the operation of the winder/tensioner and some of the different applications that the machine has been used to handle large loads.IntroductionINCO Limited operates 24 mine hoists in the Ontario Division and has approximately 50 miles of mine hoist rope hanging in the shaft plus an equal amount on spare reels. The mine hoist ropes range in size from )( inch to 2.305 inches in diameter with the majority being 1 3/4 inches and above. Prior to the procurement of a new high powered winder/tensioner in 1988, the mine hoist ropes were handled with a variety of methods and equipment using hydraulic or pneumatic powered reel winders. The largest such reel winder has a pull rating of 8000 Ibs and travels approximately 40 ft/min. Head ropes for the tower mounted friction hoists were installed and removed using a magazine on the hoist drum to wind and unwind the rope because the loads were greater than the capacity of the existing machinery. It was recognized that a large high capacity machine would improve the productivity for handling the larger hoist ropes and a feasibility study was undertaken to determine the parameters for such a machine."

Jan 1, 1995

Agenda ? Where?s Victor ? What work was done to get approval to spend $982m ? a brief history ? Some project facts ? The triple bottom-line accomplishments to date ? Construction A Brief History of Victor ? 1960?s ? first sampling in area ? 1980?s ? stream samples and Victor kimberlite discovered ? 1990?s ? test / bulk samples ? 1999 / 2000 ? large bulk samples ? 2000 / 2003 ? technical evaluation through to Feasibility Study, permitting process

May 1, 2006

By Dave Stefanuto

Voisey?s Bay Project Components ? Mine/Mill Port In Labrador ? Mini Plant in Mississauga ? Demonstration Plant in Argentia ? Supply Vessel (Umiak1) ? Transshipment Facility (Quebec) ? Concentrate Handling & Transport to Sudbury/Thompson ? Cobalt Refinery Upgrade (Thompson) Project Setting ? The Project is on the traditional lands of the Labrador Inuit and the Labrador Innu ? Canadian courts have held that Aboriginal peoples in Canada possess special rights to traditional Aboriginal lands Those rights can include requiring resource developers to enter into Impacts and Benefits Agreements (IBAs) on traditional lands to set forth how lands can be used and benefits to be received by Aboriginal people

May 1, 2006

By C. M. Anson

Introduction The prosperity of any country today is dependent upon the efficiency and growth of its primary steel industry. The ?march of the United States of America to its present commanding position in world affairs parallels the growth of its steel industry. The remarkable growth of that industry was possible only because bountiful providence endowed that country with adequate supplies of the raw materials necessary for steel making -coal and iron ore. If we accept this hypothesis, and surely we must, then to what extent can we envisage the future of our own country? This symposium deals with the most important of the raw materials required for steel making -iron ore. If we are blessed with a bountiful supply of iron ore, then surely a glorious future awaits only our taking advantage of that blessing. It is becoming increasingly evident that Canada has immense iron ore deposits. It is my privilege to make you acquainted with one of these, one that can only be classified as among the more important ore reserves in the world. I refer to the Wabana ore deposits in Newfoundland. Location These deposits lie under the floor? of Conception bay, off the east coast of Newfoundland. They consist of a series of beds which outcropped for a distance of about three miles on the northeastern shore of Bell Island, dipping at approximately 8° toward the northwest. This three-mile outcrop is the only key to the occurrence.

Jan 1, 1951

By Timothy R. Eby

"The Wabush Mines project was formed in 1956 to develop a large iron ore property in Western Labrador. The town of Wabush along with the mining and concentrating facilities are located 640 air miles from Montreal, and 734 air miles from St. John's. The operation has been in production since late 1964.While mining and concentrating operations are located in Labrador, the pelletizing facilities are situated 275 miles south at Sept-Iles, Quebec. Dedicated in 1965, Wabush produces six million tons of high quality iron ore pellets annually. The company employs 1, 550 people at Wabush and the Pointe Noire plant at Sept-Iles.Wabush Mines is an unincorporated joint venture of three companies -The Steel Company of Canada, Dominion Foundries and Steel Ltd. and the remaining 58% by the Wabush Iron Co. Ltd. Wabush Iron Co. Ltd. is in turn owned by six companies: The Youngstown Sheet & Tube Company, Inland Steel Company, Interlake Inc., Wheeling Pittsburg Steel Company, Finsider International S.A. and Pickands Mather & Company which is also managing agent.The town of Wabush is set in a remote part of Northern Canada accessible only by rail and air transportation. But this in no way has hindered the growth and development of the area. Modern housing units, shopping facilities, airport and of course, recreational facilities are all patt of every day living amenities, an accepted aprt of southern communities, but quite unique for northern isolated mining localities."

Jan 1, 1978

By H. W. Hughes

"The Wasamac Gold Mines mill, situated 10 miles from Rouyn-Noranda on highway 59, commenced milling April 1st 1965 at a rate of 700 tons per day. This has gradually increased to over 1200 tons per day in December. The mill has done up to 1400 tons on occasion.The ore was formed in the Wasa shear zone by means of replacement. The minerals which replaced the original rocks were carbonates, quartz, pyrite, chlorite, gold and silver. Work index varies from 9. 6 on the chlorite to 11. 6 on the quartz. The gold is very finely disseminated throughout the gangue and while associated with the pyrite is not included in the pyrite. Very seldom is gold found or seen in the free state.Test work showed a medium fine grind of 85 to 90 per cent was necessary to achieve a 95.00 per cent extraction. Straight cyanidation time of 30 to 36 hours was indicated. This has been borne out by subsequent mill performance with a grind around 87 per cent minus 200 mesh and extraction ranging from 95 to 96 per cent.When it was decided to bring the Wasamac property into production, the Bicroft Uranium Mines Ltd. crushing and grinding units together with one pebble mill and the pachuca tanks from Dyno Uranium Mines Ltd. were purchased.Wasamac crusher house and mill buildings are of laminated wood construction, covered with 5/ 8th inch plywood and corrugated iron sheeting."

Jan 1, 1966

By J. Buckle

"Recognition of the diamond potential of the Wawa subprovince was initially determined from regional data using a kimberlite model. The world’s largest stable Precambrian craton, the Superior Province, is considered to be favourable for the emplacement of diamondiferous kimberlite. The Wawa area is located near the intersection of intra-craton structures visible in the regional magnetic data.The Enigma project is located north of the town of Wawa in northern Ontario. From field evidence and background research, it became obvious that in the Wawa area there were at least two potentially diamond-hosting events, Archean lamprophyric volcaniclastics and Proterozoic kimberlites. The host lamprophyric rock does not contain the classical KIM signatures. However, to complicate the Enigma, stream sediment samples within 200 m of the diamond-bearing lamprophyre produced a typical suite of kimberlite indicator minerals.The micro- and macro-diamond content of the Wawa lamprophyric volcaniclastic rocks is typically 0.2 ct/t to 1 ct/t, although it can be higher locally. The economic diamond potential of these Archean dykes, sills and irregular lamprophyre bodies is still under-explored (Kaminsky, 2002, unpubl.). Oasis Diamond Exploration is currently exploring the area using geophysical, geochemical, and geological data."

Jan 1, 2002

By M. Fiset, D. Belley

"To better understand the wear process of various materials that may be used as blades on snow removal equipment, the first step is to evaluate the influence of the load applied and the moving speed on road wear rates of one type of steel and three types of polymers. While the behavior of steel conforms to Archard's law, wear rates of polymers increase to a power of ex of the load applied according to a model implying that the wear of these materials is due to fatigue. The wear rate of some of the polymers varies considerably in terms of speed, unlike the steel. The wear resistance of some of these polymers outclasses the steel tested as long as the speed is not too great. They, therefore, present interesting alternatives for snow removal on more fragile surfaces such as sidewalks and zone made of inter-block slabs.IntroductionSince the dawn of the Industrial Revolution, the massive use of machines has brought with it a number of different problems regarding wear. Snowplowing roads, parking lots and sidewalks is an activity that generates enormous expense in a country such as Canada. To better understand these wear processes and in the hope of stimulating new approaches designed to reduce the costs related to this sector of activity, this paper presents the behaviour of several materials (steel, polymer and rubber) as they wear on an asphalt-fines matrix surface lubricated with water. Also discussed is the effect of various parameters such as the load applied and speed."

Jan 1, 1990

By R P. Douglas

During 1955, Cominco commenced an exploration pro-gram in northern New Brunswick; in the following year, what is now the Wedge mine was discovered. The mineralization is mainly pyrite, with associated chalcopyrite and minor amounts of sphalerite and galena. The property was brought into production at 750 tons per day in early 1962. The ore is trucked 10 miles to the Heath Steele concentrator, where a copper concentrate grading about 19.5 per cent is produced and shipped to the Japanese markets through the port of Dalhousie, New Brunswick. Introduction THE Wedge mine, owned by The Consolidated Mining and Smelting Company of Canada Limited (Cominco), is located in the Newcastle-Bathurst area of New Brunswick. It is 42 miles by road northwest of Newcastle and 37 miles southwest of Bathurst (Figure 1). The mine is located on the north side of the Nipisiquit river in one of the more mountainous areas of the Province, the local relief rising to 1,500 feet above sea level. There is an almost complete forest cover of mixed hardwoods and conifers -the val-leys and hillsides being covered by balsam, spruce and pine, the swamps by cedars and black spruce and the highlands by mixed hardwoods.

Jan 1, 1965

By Peter A. Bevan

"In massive and semi-massive deposits, it is essential to take samples continuously for specific gravity determination as well as for assays of the various metals of interest. Failure to use specific gravity in mixed deposits of high density contrast will result in incorrect determinations of the average grade.Graphs and linear equations of specific gravity against the grade of one metal are not considered accurate enough in a multi-mineral deposit, but appear to be very satisfactory in a theoretical one-sulphide/gangue mix. Specific gravities based on base-metal values only in massive sulphide deposits will result in underestimating the effect of low grade areas on the average grade and also cause a reduction in the calculated tonnage.IntroductionBy definition, a base-metal assay is the percentage of metal by weight contained in a sample, whether it be a soil or silt sample, a grab, chip or channel sample, or a section of diamond drill core.In those cases where there is a series of contiguous samples, say in diamond-drill core, the average grade may be required of the various assays that are above a desired or required cutoff grade.Internal low grade or waste can be included if the assays one side or the other are used to ""carry"" the lower grade material and the resulting average grade is above the cut-off grade. To determine the average grade, the individual assays are ""weighted"" by multiplying these values by their respective lengths, adding up the cumulative assay times length and dividing by the total length. This method is essentially a weighting by volume, because the core diameter is constant and is common to all the samples being considered for estimating the average grade . If some of the core samples have much higher specific gravities than others, and the specific gravities are not used in the weighting process, the resultant average grade will be over-estimated or underestimated, depending on the grade of the heavier sections. When core assays of approximately the same specific gravity or weight are averaged by length, the error in the weighted estimation of the average grade is negligible."

Jan 1, 1993