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By H. C. Cooke

Those who have followed the geological developments in connection with the copper deposits of Quebec will recall that on many properties the sulphide bodies occur as replacements of fault breccias or tuff breccias, and exhibit a pronounced distaste for the more massive lavas. At the same time the rocks around the ore-bodies are profundly altered, first by addition of silica and sericite, later by conversion of these minerals into chlorite. It has been known for some years that at the Amulet and Waite-Ackerman Montgomery mines these conditions do not prevail. At both mines the ore-bodies are replacements of massive lavas, and at the Amulet they are associated with a very peculiar rock christened ?spotted dog', or 'dalmatianite'. Accordingly, when in 1929 the writer had the opportunity to make a further examination of these properties, two problems presented themselves for solution. The first was to determine, if possible, the conditions under which massive lava, rather than breccia, is replaced by the sulphide masses; the second, to find out the exact nature of dalmatianite and its relations to the sulphide bodies. The first of these problems is believed to have been solved; the second has been found very complex, and will require further work before it is satisfactorily settled.

Jan 1, 1930

By B. R. Conard

Occupational epidemiology of the nickel-producing industry has found that inhalation exposures to certain nickel-containing substances are linked to respiratory cancers and to nonmalignant respiratory endpoints. Establishing such a linkage, however, is complicated by the fact that some diseases occur long after exposure to a causal agent (i.e., some diseases have long latencies). Furthermore, most chemical agents (especially nickel substances) vary significantly in their toxicological properties and their concentrations in workplace air have varied over processing history. Because of these complications, it is critical to understand historical exposures to specific nickel substances. To assist in this effort, the author focuses on the history of smelting and its related processes at Vale Canada’s (Inco’s) Ontario operations in the first half of the 20th century.

Jan 1, 2012

By Donald F. MacDonald

METAL PRICES RISE WITHIN the past nine months, the mining industry of the world has been revivified by a spectacular price advance for the metals. ln fact, practically all geological raw materials have been marked up during this period. Reviving industry started the price rise, but the armaments race among the nations has intensified it. These factors, coupled with our decided building shortage, which must be made up, will probably maintain metal prices at decidedly favourable levels over the next two or three years, or longer. OUR MINERAL CIVILIZATION It is interesting to recall that in the past hundred years, while the white population of the world increased some three ta three and a half fold, the consumption of minerals increased seventy-five fold. In other words, ours is a mineral civilization. If we disregard short slumps, which we will occasionally experience, it seems certain that the bread upward trend in mineral consumption will be maintained for many decades into the future. Nations without reasonably abundant and diverse mineral deposits will eventually become nations without much power. Canada is blessed with a splendid store of minerals. Its mineral industry is now facing an exceptionally rosy future. What of the mineral industry of Nova Scotia? GEOLOGICAL RESEARCH ALLOWED TO LAG RN NOVA SCONA Many years ago, when geological science was in? its infancy, much geological study was carried on in Nova Scotia. In 1827, Francis Alger began work on the iron ores in the Bay of Fundy region. In 1886, E. R. Faribault began his series of remarkable papers on Nova Scotia geology. Between these dates, many others published papers on the geology of the Province. The most outstanding of this early group of geologists was Sir William Dawson, whose published works on Nova Scotian geology extended over the period from 1845 to 1891.

Jan 1, 1937

By Karl J. C. Harries

Mineral Agreements and Royalties

Jan 1, 2003

"Far from being eclipsed by petroleum and natural gas, Canadian coal continues to command wide (and apparently growing) interest.Major R & D investigations are currently heavily oriented toward coal beneficiation (e.g., cleaning and utilization of fines) and toward a broad range of studies on metallurgical coals and cokes. However, active work is also being carried out in the areas of coal geology, mining, transportation and combustion; and, in some laboratories, increasing stress has been laid on developing a number of new, essentially non-fuel uses for coal and coal products.This review summarizes the work of Canadian coal research agencies during 1966 and indicates some of the more important advances made by them."

Jan 1, 1967

By Brian Hart, Stamen S. Dimov

"The naturally occurring carbonaceous material (CM) in gold bearing ores often exhibits strong-preg-robbing properties. It can adversely affect the process of gold recovery during the cyanidation due to its ability to adsorb, or preg-rob gold from the cyanide leach solution.Treatments of carbonaceous ores with chemical surfactants as blinding agents to limit preg-robbing have shown promising results but at the same time have demonstrated that, if not properly used, could have a strong detrimental effect on the gold recovery process. High dosages of surfactants used as passivating agents for carbonaceous matter could lead to unwanted partial passivation of the activated carbon added during the CIL process and severely impact the gold recovery. Optimal dosage for various surfactants would strongly depend on the ore mineralogy and the parameters of the pulp (temperature, pH, surface area and maturity of the carbonaceous material, etc).This paper describes an experimental study on the effectiveness of various commercially available blinding agents used to minimize the preg-robbing capacity of naturally occurring carbonaceous matter. The scope of the study was to: i) establish the optimum addition of blanking agent (surfactant) to minimize the preg-robbing capacity of the CM in the ore, and ii) establish maximum threshold amounts of blanking agents to be used before it negatively impacts the preg-robbing capacity of the activated carbon used in the CIL process. The study procedure involves standardized doping tests to evaluate the maximum preg-robbing capacity of treated CM, coupled with surface analysis with ToF-SIMS to monitor the presence and the degree of loading of these chemical surfactants on both the naturally occurring CM and the added activated carbon.INTRODUCTIONNaturally occurring carbonaceous material (CM) in gold bearing ores often exhibits strong-preg-robbing properties. Thus, it can adversely affect the process of gold recovery during cyanidation due to its ability to adsorb, or preg-rob gold from the cyanide leach solution. The preg-robbing properties of this naturally occurring carbonaceous matter can vary widely between ores, and within a single ore body (Dunne et al.,2013;Helm et al.,2009;Miller et al.,2005). The degree of preg-robbing related to the CM within an ore is defined by several parameters: total organic carbon (TOC) content, surface area, maturity (i.e., crystallinity) of the CM and the presence of various functional groups on the surface of the CM. Preg-robbing gold ores continue to be a significant challenge because of the lack of a single or universal solutions."

Jan 1, 2016

By Horatio Sam-Aggrey, Margot Hurlbert

Small Modular Reactors (SMRs) have been touted as having the potential to spearhead a nuclear renaissance. Proponents of this view cite the relative advantages of SMRs over larger nuclear plants as reason for their optimism. Some of these merits include potential economies of mass production deriving from modular factory production, enhanced safety features, the ability to locate reactors in remote areas, and reduced requirements for technical workforces to install and maintain SMRs. Despite the optimism surrounding SMRs, nuclear power is still a contentious issue for many Canadians. The growth of nuclear power remains adversely affected by concerns over issues such as: the health and safety consequences of nuclear power generation, environmental impacts, proliferation of nuclear materials, terrorism, and radioactive waste disposal (Organisation for Economic Co-operation and Development (OECD) and Nuclear Energy Agency (NEA), 2010). Personal values, past nuclear accidents, and lack of trust in the industry are other factors influencing attitudes toward nuclear energy (IAEA, 2005). In Canada, three main areas where SMRs could be used have been identified. These include: a. Traditional, on-grid power generation, especially in provinces looking for zero-emissions replacements for CO2-emitting coal plants. B. Remote off grid communities that currently rely on diesel or fuel oil power generation. There are 279 off-grid communities in Canada, many of them being Aboriginal communities (NRCan, ND). Notably, all communities in each of Canada’s three territories qualify as remote. C. Resource extraction sites, such as mining and oil and gas extraction sites. Many of Canada’s principal producing mines and active mineral exploration projects are located within close proximity of Aboriginal communities. Any proposed implementation of small nuclear plants would, require the support of the local population, which is largely Indigenous in the northern regions. The possible deployment of SMRs raises important issue relating to consultation and accommodation of Aboriginal concerns regarding potential SMR deployment. This is especially pertinent given Canada’s pending implementation of the provisions of UNDRIP. One of the provisions of UNDRIP that has attracted a lot of attention is the one on Free Prior and Informed Consent (FPIC). Drawing on previously published information, this paper discusses some of the challenges posed by FPIC for the deployment of SMRs. The next section outlines the provisions of FPIC and its implementation in the Canadian context. Section 3, details some of the challenges posed by FPIC to the deployment of SMRs, while Section 4 provides some concluding comments.

Jan 1, 2020

"Since World War II, urban communities have expanded at an unprecedented rate. The industrial mineral industry supplies the sand, grave], limestone, crushed rock, cement, gyp-sum, etc. for urbanization. Most de-posits in use are close to or within communities. Pollution of water and air has become a matter of public concern. Waste disposal and the effects of noise and vibration are subjects of public debate. Need for the reclamation of land after operations such as strip mining is discussed in magazine articles and on TV pro-grams; i.e., the general public is educated in the unattractive features of mining.Legislation is on the books and being drafted to regulate mining operations and their side effects. To avoid over-regulation and restrictive legislation, it is necessary that the public be educated and legislators informed of problems peculiar to the mining industry. Our side of the story needs publicity."

Jan 1, 1968

By N. Geoffroy, E. Benguerel, G. P. Demopoulos

In the late 1990s, a chemical process to remove mercury and selenium from weak sulphuric acid solutions was patented and implemented in the CEZinc refinery in Valleyfield, Quebec. The CEZinc process comprises two stages. In the first one, sodium sulphide is added to the weak acid solution in order to precipitate the soluble mercury. The solution is then treated with sodium dithionite in order to reduce the selenium to elemental form. Because of recent changes in the composition of the industrial solution, a project to study the background chemical reactions was started. In this paper, a review of the background chemistry is presented on the basis of several eh-pH diagrams on one hand, while on the other experimental results are reported dealing with the reaction of selenium (IV) species with either dithionite, sulphide or a combination of the two. According to this work, elemental selenium enjoys a wide pH-eh range stability with selenium sulphide being metastable. Selenium (IV) in single metal synthetic solutions was found to be reduced - to elemental state - at ambient temperature down to ppb range with dithionite as long as the stoichiometric ratio (dithionite/selenium) was in excess of two and the pH < 1.7. Under these conditions the reaction was very fast reaching completion within one minute. Sodium sulphide proved equally effective in reducing selenium (this time as selenium sulphide) to ppb range from single metal solutions. However, in mixed Se-Hg solutions deviations from this "ideal" behaviour was observed resulting in higher levels of residual soluble selenium left in solution.

Jan 1, 2008

By M. C. Bétournay, J. E. Udd

"The legacy of abandoned mines in Canada creates issues that impact on both the health and safety of Canadians and the environment. Solutions to the problems of abandoned minesites require a detailed understanding of site conditions, the engineering solutions which may be relevant, and planning for effective use of the land. In this paper, the authors outline the basic thrusts that have been developed at CANMET to address this problem. These include: multiprovincial agreements to develop a national database; methods of site rendering; a ten-year research program to develop engineering approaches; the review of a large number of case studies; and outlining the associated risks. Examples of the applications of this research are provided in the areas of: municipal, provincial, and federal co-operative projects; site-specific applications; and international linkages."

Jan 1, 1997

By V. Panayotov, M. Panayotova, R. Villas-Bôas

The "United Nations Framework Classification (UNFC-2009) for Fossil Energy and Mineral Resources 2009” is the international system designed to meet (to the extent possible) the needs and to support the decision making and resources management of private industry investment, governments, policymakers, bank investment, scientists. There are different international and national systems classifying commodities (resources, reserves, possibility and feasibility to extract them, etc.) with their own definitions and reporting terminology which often do not overlap entirely or even differ significantly - thus creating difficulties and problems among stakeholders to understand each other. The UNFC-2009 is developed to allow “speaking in one language”. The paper presents briefly the UNFC-2009. The UNFC-2009 applies simultaneously three fundamental criteria to classify projects: economic and social viability, field project status and feasibility, and geological knowledge (so called E, F and G axes), thus creating a visualized, easily understandable three dimensional system. The E, F and G axis categories are divided to subcategories, using additional criteria. The UNFC-2009 is already applicable to solid minerals, nuclear fuel resources, petroleum. The amounts of solid waste generated by metals production from ores (mining, minerals beneficiation, extraction metallurgy) and its metals content are discussed from the viewpoint of using the waste as resource. An attempt is made to apply the UNFC-2009 to technogenic waste from metals production from ores - both to old engineering constructions (historic mining dumps and reclaimed beneficiation tailings ponds) and new (currently in use) dumps and ponds.

Jan 1, 2016

By J. C. Keenan

Company-community agreements are widely considered to be a practical mechanism for recognising the rights, needs and priorities of peoples impacted by mining, for managing impacts and ensuring that miningderived benefits are shared. The use and application of company?community agreements is increasing globally. Notwithstanding the utility of agreements, the gender dimensions of agreement processes in mining have rarely been studied. Prior research on women and mining, however, does show that women are often more adversely impacted by mining than men, and face greater challenges in accessing development opportunities that mining can bring, however there is currently little to no guidance for companies, government or communities in terms of bringing a gender perspective to the fore in mining and agreement processes. While it is undisputed in human development literature that investment in women and sensitivity to gender delivers long-term health, education and local development outcomes, a number of key factors remain unexplored in debates about mining and development. These include: women?s participation in agreement processes, the gendered distribution of agreement benefits, and the extent to which impacts and benefits influence (either positively or negatively) women?s development and economic inclusion. This paper presents the results of an applied research project undertaken by the Centre for Social Responsibility in Mining (CSRM) at The University of Queensland and funded by a partnership between the Minerals Council of Australia (MCA) and the Australian Agency for International Development (AusAID). The project sought to connect with practitioners who had been directly involved in agreement processes to hear grounded perspectives on the interaction of gender dynamics and agreements, and connect those experiences with the broader literature. Findings from this study have implications for the role of companies and governments in promoting gender equality and empowerment as part of their commitments to sustainable development. A key challenge for companies will be navigating the territory of cultural norms and gender equality. The authors argue that without consideration of the gender perspective, and appropriate responses, mining agreements may not be inclusive or representative and may exacerbate gender inequalities and fail to contribute to long-term sustainable development.

Aug 1, 2013

By Harold L. Gibson, Don H. Rousell, Ian R. Jonasson

"Abstract - The Sudbury Structure consists of three major components: 1) the Sudbury Basin; 2) the Sudbury Igneous Complex which surrounds the basin as an elliptical collar; and 3) an outer zone of shatter-coned and intensely brecciated footwall rocks. Although the Sudbury Event which formed the structure may be unique, the area has, in fact, been shaped by a series of tectonic, magmatic and mineralization events which can be considered in terms of two Wilson cycles of continental extension and closure. The first cycle, from 2500 to 1700 Ma, included the following events: doming (uplift of Levack Gneiss Complex); NE-SW extension (Matachewan dikes); N-S to NW-SE rifting (faults, mafic intrusions, sedimentation, and Ni-Cu-PGE and U mineralization); NW-SE extension (Nipissing diabase, and Ni-Cu-PGE, Ag, Co mineralization); and NW-SE and NE-SW closure (Penokean Orogeny, 1900 to 1700 Ma) with superimposed meteorite impact (1850 Ma, Ni-Cu- PGE, Zn-Cu-Pb deposits). The second cycle, from 1700 to 1000 Ma, included: N-S extension (alkali metasomatism, Au); N-S extension (hornblende diabase dikes along the Murray fault set); NNESSW extension (olivine diabase dikes); NE-SW extension (Fecunis Lake fault set); and NW-SE closure (Grenvillian Orogeny).The rich and diverse Ni-Cu-PGE and subordinate Zn-Pb-Cu and Au mineralization of the Sudbury region is related to endogenic and impact-triggered crustal extension and magmatism. The Sudbury Structure apparently was the site of a triple junction or hot-spot. The Sudbury ores, although located within an impact structure, are analogous in terms of age and tectonic setting to Ni-Cu-PGE and Zn-Pb-Cu ores elsewhere in the world. Meteorite impact accentuated on-going ore forming processes and magmatism at Sudbury."

Jan 1, 1997

By Harold L. Gibson, Don H. Rousell, Ian R. Jonasson

"The Sudbury Structure consists of three major components: 1) the Sudbury Basin; 2) the Sudbury Igneous Complex which surrounds the basin as an elliptical collar; and 3) an outer zone of shatter-coned and intensely brecciated footwall rocks. Although the Sudbury Event which formed the structure may be unique, the area has, in fact, been shaped by a series of tectonic, magmatic and mineralization events which can be considered in terms of two Wilson cycles of continental extension and closure. The first cycle, from 2500 to 1700 Ma, included the following events: doming (uplift of Levack Gneiss Complex); NE-SW extension (Matachewan dikes); N-S to NW-SE rifting (faults, mafic intrusions, sedimentation, and Ni-Cu-PGE and U mineralization); NW-SE extension (Nipissing diabase, and Ni-Cu-PGE, Ag, Co mineralization); and NW-SE and NE-SW closure (Penokean Orogeny, 1900 to 1700 Ma) with superimposed meteorite impact (1850 Ma, Ni-Cu- PGE, Zn-Cu-Pb deposits). The second cycle, from 1700 to 1000 Ma, included: N-S extension (alkali metasomatism, Au); N-S extension (hornblende diabase dikes along the Murray fault set); NNESSW extension (olivine diabase dikes); NE-SW extension (Fecunis Lake fault set); and NW-SE closure (Grenvillian Orogeny).The rich and diverse Ni-Cu-PGE and subordinate Zn-Pb-Cu and Au mineralization of the Sudbury region is related to endogenic and impact-triggered crustal extension and magmatism. The Sudbury Structure apparently was the site of a triple junction or hot-spot. The Sudbury ores, although located within an impact structure, are analogous in terms of age and tectonic setting to Ni-Cu-PGE and Zn-Pb-Cu ores elsewhere in the world. Meteorite impact accentuated on-going ore forming processes and magmatism at Sudbury."

Jan 1, 1997

By Trevor R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all Federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2003

By B. S. Kim, Y. D. Kim, T. S. Kim, T. B. Kim, H. J. Chae

"The Nd-Fe-B scrap was placed in Fe crucible with pure Mg in an Ar atmosphere, and the scraps were melted using an induction heating method. The effects of experimental parameters such as melting temperature (range of 993K to 1073K) and holding time (15min-600min) on the ability of extraction were investigated. The microstructure and diffusion layers were analyzed by Scanning Electron Microscopy (SEM) and Energy Dispersive Spectroscopy (EDS), and the constituent phases were characterized using XRay Diffraction (XRD). Diffusion of Nd through the Nd-Fe-B scrap into liquid Mg was described, and the diffusion coefficient of Nd in liquid Mg was estimated.INTRODUCTIONNd-Fe-B magnets are usually produced either from comminuted melt-spun ribbons as bonded magnets or hot pressed bulk magnets, or by sintering in conjunction with prior green compaction in an applied magnetic field (Sagawa et al., 1984). These magnets have been widely used for various electromechanical and electronic devices such as voice coil motors (VCMs) and magnetic resonance imaging (MRI) (Samardzija et al., 2012; Matsuura et al., 2006). The production of the Nd-Fe-B magnets is increasing by about 20% per year because of their excellent magnetic properties. However, the expansion of Nd-Fe-B magnet market induced a concern for the scarcity of Nd at the aspect of natural resource. Therefore, the development of an effective recycling process for Nd-Fe-B magnet scraps is an extremely important issue from the viewpoint of resource and energy conservation. Several recycling processes for the Nd-Fe-B magnets have been proposed (Uda et al., 2002; Lyman et al., 1993]. It has been reported that the best separation of rare-earths from the Nd-Fe-B magnets is obtained by sulfuric acid dissolution followed by precipitation of recyclable rare-earth salts. However, this process can make a large amount of waste water including dangerous solutions. Recently, (Xu et al., 2000) have reported a technique to extract Nd from 18Nd-72.4Fe-0.9B-1.82Pr-5.3Dy (wt.%) magnet scrap by using liquid metal extraction (LME) processing. However, these techniques seemed to be difficult for application, because the scraps consist of an infinitesimal amount of other minor elements (Pr, Dy, Cu, Al and Tb), and these minor elements can make a new intermetallic compounds with Mg. Also, some oxides or the plated Ni metal can be preventable to reaction between solid-liquid (S/L) interfaces. For these reasons, the substantive reaction mechanism between Mg and Nd-Fe-B scrap is not clear. In this study, the simple composition of 33Nd-66Fe-1B (wt.%) magnet scraps were prepared using an induction melting process. The effects of the experimental parameter on the diffusion properties between Mg and scraps were investigated to determine whether these methods could be used in industrial application in a liquid metal extraction (LME) process."

Jan 1, 2012

By W. W. Heywood

"IntroductionCIRCULAR structures on the Arctic islands were first noticed early after World War II. During the indexing of the 1950 Royal Canadian Air Force photographs their occurrence was brought to the attention of the Geological Survey of Canada by Mr. W. B. Waugh, Surveyor General. As a result, I. C. Brown ( 195l) of the Geological Survey of Canada studied the air photographs of these structures and discussed theories that might explain their origin. The author, as a member of the Geological Survey of Canada, spent several months in 1952 and 1953 in reconnaissance study of the geology of Ellef Ringnes island, using the Isachsen meteorological station as a base. Twelve days in the summer of 1953 were spent mapping the Isachsen dome and adjacent areas. The Isachsen dome, one of several similar structures occurring on Ellef Ringnes island, is situated 35 miles southeast of the meteorological station.PhysiographyEllef Ringnes island is a mature, stream dissected plain having an average elevation of about 400 feet. The surface of the plain is undulating with a relief of about 150 feet; only a few of the numerous streams that form a dendritic drainage pattern have eroded valleys this deep. Long, low, cuesta escarpments cross' the plain, which is underlain by sedimentary rocks of Lower Cretaceous and possibly younger age. The sedimentary strata have a low regional dip to the southeast; exceptions are found in the vicinity of the domes, where the strata are up-turned, and in the plateau region, northeast of Deer bay, where they are flat lying. The plateau, which is underlain in large part by basalt, is deeply dissected and has an average elevation of 1,000 feet."

Jan 1, 1955

By A. Demers, M. Chapman, N. Reynier, R. Lastra, M. Courchesne, C. Laviolette

Historic medical isotope production at Canadian Nuclear Laboratories (CNL) in Chalk River involved the dissolution of irradiated isotope targets prior to extraction of Mo-99. This process generated liquid waste that was cemented in 5-gallon containers and transferred to an outdoor waste-management facility for intermediate storage. Research was undertaken to develop an innovative method for uranium, mercury and cesium recovery from the radioactive cemented waste (RCW). Regulations prohibit the removal of active radioactive waste from the Chalk River facility. Thus, CanmetMINING produced surrogate material following the same procedures and conditions to those used at CNL. The selective recovery of the uranium from the surrogate radioactive cemented waste (SRCW) could offer CNL more disposition options for the resulting wastes. Leaching tests were performed using four different SRCW at 1 kg scale. Different conditions, operating parameters, and the presence of plastic and corrosion products were evaluated on solubilization. The research investigated the use of potassium iodide with the sulphuric acid leach to increase metals recovery. Iodine improves the solubilisation of metals and the U dissolution reached 99%. The increase of leaching time reduces the U solubilization due to silica gel formation. Therefore, it will be important to control leaching time to avoid the loss of U during the pilot scale experiments. For Hg, the solubilization ranged from 60 to 80% due to the presence of metallic mercury and mercury sulphide found in SRCW cured at 60°C and/or aged for 30 months. Ion exchange (IX) was found the best method to separate the uranium from the impurities and produce a purified and concentrated uranium solution suitable for yielding a uranium product (yellow cake).

Jan 1, 2020

By T. R. Ellis

The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned. Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis. Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers.

Mar 1, 2002

By T. R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and ExchangeCommission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2002