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By Joseph Daniels

When Dame Nature shook her horn of plenty and distributed her bounties over the face of the earth, she blessed the Pacific coast with many riches, but with these she added many offsetting disadvantages or handicaps, designed, no doubt, to effect a proper balance between wealth and economy. Nowhere is the application of the law of compensation more aptly illustrated than in the matter of fuel and power resources. A glance at the map of the Pacific northwest will show that west of the Coast Range batholith we are bounteously supplied with coal, with timber, with water power, and with tributary resources of oil from California. Alaska, British Columbia, Washington, all contain large resources of coal; Oregon and California to a lesser degree, but, compensating the golden state for its deficiency in this respect, oil was placed in the treasure ,chest. Timber, of wide variety and in lavish quantity, covers the forests from tidewater to mountain slope, and within this protected watershed area flow streams which give the Pacific coast states the largest single share of the potential water-power resources of the country. Something over 40 per cent. of the total estimated horsepower of the United States is to be found in the Pacific states, and British Columbia has 15 per cent. of the total for Canada; but of this total less than 10 per cent. has been developed.

Jan 1, 1924

By F. W. Guernsey

Of all the elements, sulphur occupies a place by itself. It is mined in situ, in such quantities and of such purity that, as regards the tonnage produced, it is the first of any element on the list. Iron and coal the great tonnage producers, are combinations of elements, while sulphur is mined and marketed almost chemically pure. It is sold, in large quantities, commercially, calling for a purity of 99.5 per cent while for medicinal purposes, the Pharmacopoeia requires only 99 per cent. purity. It is a very common commodity, and like many common things is of extreme importance, in the progress of our civilization. The substance has been known from the earliest times, the word sulphur being derived from the Sanskrit Culvari", hence the Latin Sulphur. Commercially it is also called brimstone, this word being a derivative of the Anglo-Saxon Bryne Stane or burning stone. From our younger days, we have been more or less familiar with the mineral. On the spiritual side being threatened, if we did not behave ourselves, with an ultimate consumption in a lake of fire and brimstone, (which in moments of reflexion was not pleasant to contemplate) while our bodily ills were taken care of by inward applications as a spring medicine. In both instances, the effect required, was generally attained. Sulphur occurs in nature, both free and in the combined state, it being estimated that it forms, over one tenth of one per cent of the first ten miles of the earths surface. (I do not know who did the estimating and it is not guaranteed).

Jan 1, 1923

By M. K. Gangal, M. A. Stoakes, A. E. Hall

"The major features of the CANMET thermodynamic mine ventilation network program, developed by the Mining and Mineral Process Engineering Department of the University of British Columbia for the Canada Centre for Mineral and Energy Technology (CANMET), are described.The program is designed for use by deep Canadian mines in planning ventilation flows where the effects of auto-compression of air, moisture lift work and natural ventilation are significant. Routines to simulate stalled fans and give an optional cost printout have been included in the program.A supplementary plotting program used to simplify data interpretation is also described.The program is described with a test data example of a deep mine. It is a valuable analytical tool which can assist ventilation engineers to simulate many alternative ventilation strategies at a low cost in a very short time.IntroductionCanadian underground mines are becoming deeper and more extensive. The use of more and larger diesel-powered equipment increases the amount of air required to be circulated in these complex systems. These effects, coupled with the increasing unit cost of the energy required for mine ventilation, require that the air is used with maximum efficiency.Optimum airflow distribution can be obtained by using network computer programs enabling engineers to plan future ventilation systems based on quantitative assessments. The programs used for deep mines must make allowance for the change of air density with depth, as the assumption of incompressible flow leads to serious errors. Natural ventilation effects may vary with depth and from part to part of the mine; this must be catered for by the program. The air moisture content changes throughout the circuit and a significant portion of the fan work may be used in removing moisture from the mine; as this work varies directly with the flow, a suitable relationship must be utilized in the program."

Jan 1, 1982

By Luis Bergh, Juan Olivares, Juan Durán, Juan Yianatos

"In the last decades heuristic approaches based on logic rules have been one favored tool to control flotation units and plants on top of distributed control systems. Fundamental knowledge on flotation processes, expressed in reliable models, and programs to assure the quality of the information, contained in available measurements, are still insufficient to develop robust predictive control strategies. In this paper the idea of using simplified models, when a known disturbance is coming into the process, is explored. As a first approach, the set points of the froth depth and air flow rate controllers are estimated based on this model. Since these target predictions are only approximate, a conventional feedback expert system, based on logic rules, continues the task of calculating the set points of the distributed controllers, in order to decrease the gap between actual and desirable metallurgical targets. This combined actions permitted a fast response of the process to change the operation of the circuit when a measured disturbance is detected. This control system was implemented and experimentally evaluated in a pilot rougher flotation circuit, with three pneumatic cells, with froth depth and air flow rate controllers in each cell. Since the circuit is operated for the air-water system, a phenomenological model, with parameters estimated from industrial data, is fed on-line with real operating variables and virtual values, characterizing the feed (grades, solids%, particle size distribution), in order to predict the metallurgical targets (recovery and concentrate grade). Several cases are discussed showing the benefits of this control system and the possible improvements to work on. INTRODUCTIONToday, large size mechanical flotation cells of 100 to 300 m3 are used in rougher operation in different flotation industrial plants, in Chile and worldwide. However, in spite of the advances in fundamental research and the notable growing in equipment size, with more complete instrumentation systems, there are still a lack of reliable data for industrial flotation modeling and simulation to advance in better control systems design."

Jan 1, 2016

By B. Tonn, F. Kröger

"The continued development in engine technology is leading to an augmentation in power density which steadily elevates the requirements for thermally and thermo-mechanically highly loaded components such as cylinder heads and pistons. Due to these high performance requirements conventionally applied Al-Si alloys have reached their application limits, since their mechanical properties deteriorate quickly under the influence of heat. Improved applicability is given by Al-Cu-based casting alloys which have a superior high-temperature strength than Al-Si alloys. Since Al-Cu alloys exhibit insufficient casting characteristics, especially regarding hot tearing susceptibility and increased tendency for porosity, it is currently not possible to cast geometrically complex components in robust permanent mold casting processes. The further development of Al-Cu alloys is aimed at finding an optimum between improved castability while high-temperature strength and thermal conductivity are not deteriorated. It is known that a high amount of eutectic reduces the hot tearing susceptibility of an alloy, but it reduces thermal conductivity at the same time. In this paper it will be presented how the conflicting objectives – improved high-temperature strength, good thermal conductivity and reduced hot tearing susceptibility – can be brought together to develop an optimized Al-Cu alloy for application in permanent mold casting.INTRODUCTION At the beginning of the 21st century car, engine blocks were primarily made of gray cast iron (GJL). Less than half a decade later, the choice of material had shifted towards lightweight materials. Ever since, the car engine manufacturing is dominated by aluminum-based alloys. The weight of car engine blocks could thus be reduced by around 50% due to the lower specific weight of aluminum alloys compared to gray cast iron. Furthermore, the high thermal conductivity of aluminum alloys allowed a reduction of complex cooling channel systems and thereby promoted the advancement of this material group. The further development in engine technology leads to an augmentation in power density which elevates the requirements for thermally and thermo-mechanically highly loaded components. For example, in diesel-powered car engines the upper required limits can reach an ignition pressure as high as 230 bar and gas temperatures of up to 1000°C. Thereby, thermal loads can cause high alternating thermal stresses (Grzincic, 2003) which can effectively be reduced by providing high thermal conductivity."

Jan 1, 2017

By D. H. Pulling

Statistics for copper consumption from various sources show that the importance of production from secondary sources is increasing. This is of particular significance in countries such as the U.K ., which are totally dependent on secondary material for the supply of home-produced copper . A brief survey of the U.K . industry has shown that, in the past, relatively high profit margins have not encouraged high cap ital investment and development of more sophisticated operating techniques, but set against a background of rapidly escalating operating and energy costs , together with an ever-increasing demand for copper , it is anticipated that the industry will see great changes in the near future. With this in mind, an experimental furnace for continuous smelting of copper-bearing scrap has been developed at the University of Birmingham. This furnace has been designed to combine the conventional operations of blast furnace or reverberatory smelting, usually followed by converting, in one unit, and incorporates many of the features of the WORGRA and Noranda processes for continuous primary smelting . It consists of a long, sloping channel, constructed of chrome-magnesite refractory, which: is churned near the top. Smelting is effected lower down the channel, where iron, etc., in the scrap is oxidized and slagged off with silica flux. Provision is made for oil injection to increase oxidation rates. Metal can flow from the bottom of the channel, and slag from the top, so that a counter-current flow is achieved. The approximate molten capacity is 25 kg. Various scrap charges, both synthetically made and as supplied from various industrial smelters, have been successfully smelted. Metal of 83 -95 % Cu has been produced, depending on the original charge composition and the degree of air injection, although air injection was also found to considerably increase the copper loss to slag. Recoveries of other valuable non-ferrous metals in the charge were good.

Jan 1, 1977

By Raju S. Sagi

This paper deals primarily with the different types of drilling methods used by the Iron. Ore Company of Canada for sampling the soft and friable hematite-limonite (secondary) iron ore deposits found in the Scheferville area. The problems associated with drilling, sampling, sample handling and sample preparation. for chemical analysis of these ores are discussed. Systematic evaluation of the various drilling methods led to the selection of an integrated drilling system. This system consists of a rotary dual- tube - reverse-circulation drill, with tricone bit, polymer mud and mechanical sample splitter, The historic al development of this drilling system is described in detail, as are the equipment , sample flow and quality control checks carried out to obtain representative samples. This integrated drilling and sampling system has been used satisfactorily on a routine basis for determining the grade and tonnage of ore for the various deposits for the last five years (1972-76) in the Schefferville area.

Jan 1, 1977

By C. A. Lorenson

THE Marmoraton mine is located a mile southeast of Marmora, a village in Hastings county, Ontario, 130 miles east from Toronto and 143 miles west of Ottawa. Highway No. 14 from Belleville intersects Highway No. 7 at Marmora and the branch line of the Canadian National railway between Trenton and Bancroft passes through the property just east of the open pit. HISTORY AND GEOLOGY The Marmora orebody appears as the whorls of a thumb print on the aeromagnetic survey map released by the Ontario Department of Min.es early in 1950, the survey of the district having been made in 1948 and 1949, under the joint auspices of the Department of Mines and the Geological Survey of Canada. The 'anomaly' appeared to have interesting possibilities, so Bethlehem representatives carried out a ground survey and began drilling the property in June, 1950. A total of 40 holes, aggregating 37,000 feet, were drilled to delineate the ore-body. The Marmora orebody is a re-placement of Precambrian limesto.ne with zones or bands of magnetite interlaid with metamorpl1ic rocks and cut by later intrusives. The ore and associated Precambrian rocks are overlain by 100 to 150 feet of flat-lying Palaeozoic limestone. It is a low-grade deposit averaging 33 per cent iron and requires concentration to raise it to 65 per cent iron grade.

Jan 1, 1958

By L. M. Lowe, D. B. Chambers, D. G. Feasby

"Potentially economic deposits of rare earth elements (REE) often contain elevated levels of naturally occurring radioactive materials (NORM), primarily thorium and uranium and their associated radioactive decay products. The concentrations of NORM usually exceed typical background levels of natural radioactivity, sometimes by factors of ten or more, and can be of concern relative to occupational radiation protection and the management and disposal of REE mineral processing and metallurgical wastes. This paper provides a summary of the radiological issues normally encountered in the REE concentrate production industry. In addition to an introduction to background radiation and radioactivity, including the thorium and uranium radioactive decay series, radiation levels expected to be encountered in REE concentrate production are outlined. The occupational, environmental and regulatory aspects of REE production related to NORM, including radiation dose limits, radioactive waste disposal guidelines, and threshold VALUES (for the application of transport regulations, are presented.INTRODUCTIONConcurrent with the increasing demand for new sources of rare earth elements (REE) to meet modern industrial needs, there is also an increasing awareness of the radioactivity associated with the REE ores and resources. This is an especially important consideration in addressing questions from the public and local communities who are often concerned about “radiation” and “radioactivity”. Public concern is heightened by reference to legacy issues that arose during times of less regulatory oversight; as well, the benefits of modern technologies, practices and regulation are overlooked. Such concerns are also often inflamed by unfounded claims by non-governmental organizations (NGO’s). Thus, it is important that all concerned have a full understanding of just what the potential risks from radiation associated with REE are, or are not. This paper provides an overview of the sources of radioactivity, the potential implications of radiation and radioactivity in the REE industry, and a brief discussion of established and reliable methods of managing exposure to radiation and radioactivity."

Jan 1, 2012

By J. Chenier, M. Boissoneault, D. Ducharme, R. Schonewille

The operation of Falconbridge's Sudbury nickel smelter has undergone significant change since the production was consolidated to a single electric furnace in 1994. In the late 1990's a capital program of about $100 MM (Cdn) was undertaken to expand and modernize the smelter. This project, known as Smelter 2000, was mainly driven by the need to process the new concentrate produced at Falconbridge's Raglan operation in northern Quebec. Included in the scope of the project was the installation of dry concentrate handling facilities, modifications to the roaster feed preparation system, installation of a matte granulation system and modification of one of the converters. Improvements to in-plant hygiene were also an important part of the Smelter 2000 project. Over the past 5 years much has been learned about the challenges in treating two significantly different concentrates. More recently, the introduction of a third concentrate from Falconbridge's new Montcalm operation near Timmins, Ontario has added another dimension to the operation. This paper will describe how the main challenges from the past 7 years have been overcome and discuss the path forward for the Sudbury Smelter Business Unit.

Jan 1, 2005

By D. G. Almond

Nkomati Nickel Mine in South Africa processes one of the world?s hardest ores in a 375k TPM autogenous grinding circuit. The plant employs an unconventional processing circuit, comprising a primary autogenous mill (AG or FAG) and pebble crushing circuit followed by a secondary hybrid pebble/ball mill and classification cyclone cluster. Advanced Process Control (APC) or Expert Control is now generally accepted as an advantage in most modern high capacity concentrator grinding circuits. This paper reviews the installation of model predictive control at Nkomati and examines the results and benefits of installation in an autogenous mill during plant ramp-up. The paper also demonstrates how predefining process control objectives together with good plant and supplier cooperation can achieve a robust and reliable APC implementation on a very short site program. The results conclusively demonstrate operational and economic benefits during circuit operation with the advanced process control system ON. Production performance and circuit stability were significantly better than during manual control.

Jan 1, 2012

By Ting Lu, Gerard Laman

"This document compares the systems of coal classification described under ASTM standards used in Canada to GB standards used in China. A preliminary connection of metallurgical coal classes was set up between the two classifications. In GB classification system, there are nine metallurgical coal groups, namely PS, SM, JM, FM, ½ ZN, RN, 1/3 JM, and QM used in coal blending for coke production. PS coal is almost equivalent to the Low Volatile Bituminous coal; SM, JM, and FM coal groups fall into Low to Medium Volatile Bituminous range; ½ ZN, RN, 1/3 JM, and QM are equivalent to bituminous coal with medium to high volatile matters; QF contains higher volatile bituminous coal compared with High Volatile Bituminous coal. The caking properties commonly used in respective country are also compared in this document. These properties include free swelling index (FSI) and maximum fluidity used in Canada, as well as caking index (GR.I.), and the maximum plastic layer thickness (Y) mainly employed in China. It has been observed that the log of the maximum fluidity has a stronger correlation with the caking index than the Y values. Metallurgical coal processing strategy and typical coking coal product qualities are briefly discussed in the last section of this paper. Currently there is a trend to use heavy medium cyclone in both countries. In Canada the conventional two-product cyclone technology is the preferred practice; whereas in China the three-product heavy medium cyclone arrangement is widely used.INTRODUCTION Coal can be simply classified by applications into two categories: i) thermal coal used to provide heat energy in combustion, and ii) metallurgical coal which is converted to coke, in a carbonization process, and used mainly in the iron and steel industry. Metallurgical coal contains even higher heating values than thermal coal. In addition, it presents unique plastic properties during carbonization which in turn produces a porous solid, high in carbon referred to as coke. Coke is one of the most important raw materials in the iron and steel industry."

Jan 1, 2012

By C. M. Clapperton, K. E. Darke, A. J. Boyce, C. M. Rice, S. D. Redwood

"The Kori Kollo gold deposit is hosted by a c.15 Ma sericitized dacite stock in the LaJoya district on the Bolivian Altiplano. The mineralization is of the Bolivian polymetallic vein(BPV) type, with a signi?cant amount of the gold reserves contained in the oxide cap.Field and microscopic studies, K-Ar dating, ??34S values of pyrite, alunite and jarosite, and ??18O values of alunite and jarosite demonstrate that some of this gold is supergene. Two types of supergene gold are present: minute gold grains, 1 to 10 microns across, of high fineness and associated with jarosite and iron oxy-hydroxides; and ‘invisible’ gold, which is probably sorbed onto minerals such as jarosite and iron oxy-hydroxides.Pyrite ??34S values fall in the limited range -3.5 ± 0.6‰, consistent with a magmatic origin. Sulfate ??34S values are homogeneous and overlap closely with those of pyrite (-1.2 ± 2.1‰), which supports petrographic evidence that sulfates replaced pyrite. By contrast, sulfate ??18O values are inhomogeneous with a large range (alunite +2 to 26‰, jarosite -5 to +18‰). These data are interpreted as reflecting kinetically controlled reactions involving various proportions of atmospheric oxygen and local meteoric water. This is typical of supergene alteration and is due to the seasonally dry climate of the Altiplano.The oxide-zone mineralogy is dominated by sulfates and iron oxy-hydroxide minerals with some phosphates and halides, which indicates that the groundwaters were acidic, oxidizing and relatively saline. Under these conditions the most likely complexes responsible for gold mobilization are halides.Geological data and K-Ar ages indicate that oxidation of the BPV deposits began at least around 11 Ma and possibly up to 15 Ma ago, and that supergene alteration lasted until around 4 Ma. During this period, erosion was minimal. Although supergene processes have been active on the Bolivian Altiplano since the Middle Miocene, in contrast to Northern Chile, enrichment of gold has not occurred."

Jan 1, 1997

By S. Homulos

"Introductory and GeneralTHE Northwest Territories comprise all that region -of Canada lying between Yukon Territory and Hudson bay and north of the 60th parallel of latitude. For purposes of mine .administration the Territories are divided into three districts: Yellowknife, McKenzie, and Arctic and Hudson Bay. Mining recording offices for the respective districts are maintained at Yellowknife, Fort Smith, and Ottawa. The mine inspection for the entire area, and also for Yukon Territory, comes under the Federal Department of Resources and Development. Two mining inspectors are responsible for these inspections: the Chief Inspector of Mines, with headquarters in Ottawa, who makes trips into the north at least twice a year, and a Resident Inspector, stationed in Yellowknife.The Resident Inspector is constantly making inspections of active properties. This involves a considerable amount of air travel as the region is large and properties are widely scattered.Although there has been prospecting and staking of claims in each of the three districts of the Northwest Territories, actual mining has been conducted only in the Yellowknife district, and for purposes of this paper we are solely concerned with that district."

Jan 1, 1952

By J. P. Weiler

The increasing use of high-pressure die-cast magnesium alloys in the automobile industry requires a better understanding of the mechanical properties, the microstructure, and particularly, the relationship between these two. The goal of this study is to first understand the microstructural features which control the mechanical properties observed from an AM6OB magnesium alloy, and second, to be able to predict the local mechanical properties based on microstructural features encountered in different areas of the die-cast component. The two main tools used in this study are spherical indentation testing, used on local areas of the die-cast magnesium alloy AM6OB to detect changes in microstructure and mechanical properties, and X-ray tomography, used to non-destructively investigate the internal porosity in a sample. The results from these tests are then used to predict the local mechanical properties such as the yield stress, the strain-hardening characteristics, and the fracture properties of the AM6OB component.

Jan 1, 2006

By M. Mohan Rao

A Sievert ' technique was used. The few determinations made on 10 per cent and 20 per cent V alloys did not show any deviations from Sieverts' law up to I>N2 = 1 atmosphere. The same held true for alloys of 0.2 per cent Ti. Nitrogen absorptions in Fe-Ti alloys, containing from 0.50 to 0.77 per cent Ti at 1,600°C, follow Sieverts' law at low PN2 values, but, due to the formation of a delta titanium nitride phase, deviate from this law beyond critical values of PN2? There is evidence that this phase is Ti1.1N. The behavior observed can be described by the followmg equations: Ti,.,N(o) = 1.7Ti + N K = (fT; ? % Ti)1?7 (f;;.? %~_) = 0.0020 K = fN. %~ = 0.042 '\)-:>N 2 I NTRODUCTJON Nitrogen's solubility in liquid iron-vanadium alloys was investi-gated briefly by Brick and Creevy ( 1), and more extensively by Kash-yap and Parlee (2) and by Pahlke and Elliott (7). Nitrogen's solubility in liquid iron-titanium alloys

Jan 1, 1963

By A. E. Flynn

Introduction The purpose of this paper is to record the results of researches on anhydrite that have been undertaken at the Nova Scotia Technical College during the last two or three years. The work was carried out in the Mining Department of the College, and several investigators were engaged on the work from time to time. Messrs. R. E. Hanson and K. M. Ed devoted their mining theses to the investigation, and Messrs. J. C. Hall and G. W. Baker were engaged on the work during the summers of 1928 and 1929, respectively. The writer was responsible for the initiation and direction of these researches, which were made possible by the financial assistance of the Department of Mines of the Province of Nova Scotia. Nova Scotia is the leading Province in Canada for gypsum production, its output being about a million tons per year, or over 80 percent of the production for the whole of Canada. The commanding position of Nova Scotia in this regard is due to the abundant supply of gypsum and its proximity to areas of intense utilization in the eastern United States. The resources of gypsum are contained in a total area of 627 square miles of gypsiferous rocks, so that an enormous reserve of this mineral is available. Present operations are confined to the highest grade and most easily worked deposits close to water transportation.

Jan 1, 1930

The properties required for a com-pound to form useful thermoelectric materials are described. Uranium compounds which might have these properties are reviewed. Several of these compounds have been prepared and fabricated into compacts. The apparatus used for hot pressing, and for the measurement of thermoelectric power, electrical conductivity and thermal conductivity, is described. Detailed attention has been given to the properties of the nitrides. Preliminary studies on a number of other uranium compounds are reported. The figures of merit of the best materials so far examined are one-tenth of those necessary for a useful thermo-electric material. THE efficiency of thermoelectric materials for power generation and cooling is determined by their figure of merit, Z = a2 a/K, where a, a and K are thermoelectric power, electrical conductivity and thermal conductivity, respectively. It is well known that the largest values of Z are achieved with semiconductors (1). High mobility of charge carriers is necessary for simultaneously high thermoelectric power and electrical conductivity.The properties required for a com-pound to form useful thermoelectric materials are described. Uranium compounds which might have these properties are reviewed. Several of these compounds have been prepared and fabricated into compacts. The apparatus used for hot pressing, and for the measurement of thermoelectric power, electrical conductivity and thermal conductivity, is described. Detailed attention has been given to the properties of the nitrides. Preliminary studies on a number of other uranium compounds are reported. The figures of merit of the best materials so far examined are one-tenth of those necessary for a useful thermo-electric material. THE efficiency of thermoelectric materials for power generation and cooling is determined by their figure of merit, Z = a2 a/K, where a, a and K are thermoelectric power, electrical conductivity and thermal conductivity, respectively. It is well known that the largest values of Z are achieved with semiconductors (1). High mobility of charge carriers is necessary for simultaneously high thermoelectric power and electrical conductivity.

Jan 1, 1963

By P. E. Cavanagh

Abstract Many investigators have been interested in developing some non-destructive method for detecting or determining the changes in physical properties in steel occurring during endurance tests or normal service life of a part which fails in fatigue. This paper presents a broad discussion of some of this work and the possibilities of developing useful test procedures based on some of the information obtained in the past. Changes in magnetic properties, electrical resistance, damping capacity, X-ray diffraction patterns, and remaining fatigue life at load different from service load have all been investigated as possible means for following the sequence of events during fatigue failure. In some special instances, tests such as these may be used to predict fatigue failure. As an in stance of practical application of the continuous determination of changes in magnetic properties during fatigue, a brief account is given of work done in non-destructive inspection of mine hoist-rope. As a result of extensive experiments and field crisis, it has been found possible to detect the beginnings of failure in a wire rope in service. The test method used will detect plastic deformation in a wire rope, no matter what its cause. There is no possibility of determining the remaining useful life of a rope by calibrating changes in magnetic properties in terms of remaining fatigue life. A change in magnetic properties at a point in a rope may indicate a decrease or increase in fatigue life, depending on the overload history of the rope. A continuing change in magnetic properties ac a point, however, does reliably indicate a developing weak point which will eventually lead to failure. The important point about any change in magnetic properties is not the magnitude of the change, but whether or not it continues.

Jan 1, 1947

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