Search Documents

By Cyrus W. Field

Chemical, mineralogical, and petrographic data have been obtained for suites of plutonic rock samples from the Guichon Creek Batholith of British Columbia and the Mineral-Iron Mountain-Sturgill Peak- Cuddy Mountain-Peck Mountain areas of western Idaho. Intrusions at these two geographically separate localities represent composite plutons ranging from early gabbro through quartz diorite to late grano- diorite and more silicic-alkalic phases. They are early Mesozoic (200 m.y.) in age, and contain porphyry-type mineralization in close spatial and temporal association with late-stage intrusions of porphyry, aplite, pegmatite, and (or) breccia. Country rocks are eugeo-synclinal assemblages of metasedimentary and metavolcanic greenstones of Permian, Triassic, and Jurassic age. The petrochemical evolution of these intrusions, and the effects of subsequent hydrothermal alteration and metallization, are illustrated by standard ternary diagrams of the major oxide and mineralogical data. Samples plotted on an AFM diagram suggest a calc-alkaline magma trend. However, their distributions on NKC and Qz-Kf-Pf diagram show well-defined trondhjemitic (Na20-rich) and tonalitic (quartz-rich) variants to this trend, which are similar in part to those reported for mineralized island arc plutons of the northern Caribbean and southwest Pacific, but which contrast markedly to those for continental plutons of the Bingham District, Boulder Batholith, districts of southern Arizona, and elsewhere.

Jan 1, 1975

By S. K. Kawatra

The use of inferential particle sizing for a closed wet grinding circuit control has been practiced for several years. This paper presents a review of some inferential sizing equations developed for pilot and industrial plants using regression analysis. An analytical development is then presented showing how the general inferential sizing model arises from the nature of the classifier model. The relation between the general sizing model and the individual equations is then discussed.

Jan 1, 1982

By P. E. Richardson, N. P. Finkelstein, Z. Chen

The large band gap and insulating properties of sphalerite have limited the application of standard electrochemical techniques for studying its reactions with flotation reagents. This problem has been overcome by developing electrodes that rely on the surface conductance produced when sphalerite is activated with copper or other heavy metals. A brief exposure of the mineral in copper sulfate solutions results in electrodes that exhibit significant electrochemical activity characteristic of copper sulfides. Voltammetry studies conducted on sphalerite activated in 10-4 M CuS04, solutions at pH 4.6 provide information on both the amount and the nature of the activation product(s). It is shown that copper activation is strongly dependent on the electrochemical potential applied during activation. Activation at potentials increasingly negative of the rest potential causes a progressive increase in the amount of copper on the surface; activation at potentials positive of the rest potential decreases the amount of copper on the surface. The results indicate that both the kinetics of copper uptake and, possibly, the chemical composition (stoichiometry) of the activation product are controlled by the electrochemical potential.

Jan 1, 1995

By Edward M. Belsky

Increasingly stringent government environmental regulations will affect the availability and costs of bonding and insurance products for the mining community. New regulations requiring Environmental Impairment Insurance, Reclamation Bonds, and Cyanide Use Bonds will result in both an increase in cost and a decrease in availability of affordable insurance and bonding pro- ducts. Professional Liability Insurance for engineers that covers pollution exposures will be a must for all professional engineers working in the mining community. By understanding the problem, solutions can be structured to allow your company to obtain the mandated insurance at the most favorable cost and conditions!

Jan 1, 1991

By J. Bleeck, G. Mahrt

INTRODUCTION Many excellent papers have been written and presented regarding agricultural lime and the subject has been covered extensively in books concerning soil science, fertilizing, limestone, etc. We felt challenged to construct a paper that wouldn’t merely be a repetition of past presentations. Therefore, we chose to begin with factors having the most impact on plant growth realizing that the audience is likely to be relatively unfamiliar with this subject. So, we decided to dig deep into the roots of soil and plant growth science in order to better understand the significant role of limestone in this important area. The soil with the higher plants growing upon it forms an open and dynamic ecosystem in which there is flux of energy and material (heat, light, water, nutrients, mineral and organic matter, organisms). Plants root in the soil and then take up oxygen for root respiration, yielding energy for nutrient uptake, water for turgescence and transpiration and use in photosynthesis and the mineral nutrients needed for the synthesis of organic matter. Above the ground the plant takes in light energy and heat using them in photosynthesis to assimilate atmospheric CO2. Photosynthesis is the basic life process of creation. However, we will look at the root room where soil, water, air, and heat economy and the supply of nutrients determine soil fertility and the important role lime plays here. Location is the primary point to be considered when discussing agriculture (climate and soil); secondly, the dynamic and mobility of the minerals (plant nutrients) in the soil; and thirdly the conversion of organic substances into humus. And then there is a great deal of water involved in the growing process. In order to produce 1 kg of dry plant substance, 300 to 800 kg of water must be pumped through the plant and is then lost by transpiration. Cereals, vegetables, and sugar beets consume between 400 to 500 kg of water during the growing process and long-growing crops, such as alfalfa and clover, can consume 600 to 800 kg of water per kg of finished product. Without water, a plant cannot grow. (Reference 1)

Jan 1, 2006

By S. D. Bearden

Color enhances expression and communication in all physical objects experienced in life. Pigments provide color and in some applications have a specific additional function. Natural iron oxides are widely distributed throughout the world but only a few deposits are sufficiently pure and possess acceptable color and brightness properties to merit their processing into pigment form. Ochre, the common name for goethite ore, is the best and most under used material in the buff colored pigment market. The geological occurrence of ochre in the basal Shady Formation of the Cartersville Mining District (Georgia) is described. Exploration, processing, and product applications of New Riverside Ochre Company, Inc. are discussed. An overview of the worldwide pigment market is presented with emphasis placed upon the North American activity in iron oxide production and application. The purpose of this paper is to increase the awareness of ochre and its potential market in the colored iron oxide pigment industry, encourage research on the origin of ochre deposits, and stimulate interest in new applications of this unique substance.

Feb 27, 2013

By Rich Perry

HARRY HINDS: Our second speaker today is Rich Perry. Rich is the manager of leach and dewatering at Newmont Gold Company's Carlin operations. He has been the operator of Newmont's refractory leach development program for the past three years. Prior to joining Newmont in 1994, he was plant superintendent at the Big Springs and Jerritt Canyon Roasting Mills for Independence Mining Company. He graduated from the University of Nevada's Mackay School of Mines, and has lived with his wife and three children in Elko, Nevada, for the past 12 years. Please welcome Rich as he presents "New Facility Design Engineering: On-Site Versus Engineering Companies' Offices." RICH PERRY: Newmont Gold Company has been mining and processing gold ore at its Carlin, Nevada, operations since 1965. Processing is done using oxide milling, heap leaching, and whole ore roasting methods. Newmont began development of refractory leach processing technology at its research and development facility in 1988. The R&D staff focused on developing processing methods for low-grade refractory gold resources at Carlin that could not be economically processed by refractory milling methods. The term refractory ore refers to those ores that contain quantities of sulfides and/or organic carbon that result in low recoveries using conventional cyanide leaching. The R&D staff developed two potential processes deemed worthy of further testing: heap biooxidation to liberate gold occluded by sulfides and ammonium thiosulfate leaching for gold recovery from carbonaceous preg-robbing ores. These were piloted in small heaps by the staff of the R&D and Carlin metallurgical labs from 1990 through 1994. By 1994, Newmont's R&D and metallurgical staffs had unlocked the chemistry and kinetics of the two processes, and it was decided that the operations group would be brought in to begin development of a commercial plant. A project manager at Newmont's Denver office was assigned to the project. Scale-up issues such as biooxidation leach pad design; on/off heap heights; handling of various ore types during stacking and reclaiming; operating costs; and environmental, health, and hygiene concerns using a new process chemistry remained unanswered.

Jan 1, 1998

By E. D. Seymour

Minera Yanacocha operates a complex heap leach gold facility in the Northern Andes of Peru. Four leach pads and thirteen solution storage process ponds form an extremely complex system. Distinctly different wet season and dry season rainfall accumulations present unique challenges to the process water balance. Minera Yanacocha operates four excess water treatment facilities which discharge water to the environment at specific quality standards in order to maintain a balanced system. Numerous government agencies and non-government organizations are involved with the permitting, monitoring and control of the discharged water. Minera Yanacocha maintains a relationship with 65 villages and communities, with a population of approximately 29,000 people and the city of Cajamarca with approximately 100,000 residents. This paper provides a high level review of the system complexity, the water balance, the excess water treatment facilities and social aspects of solution management.

Jan 1, 2004

By Mohamed A. Younis, Paul J. Headland, Paul H. Madsen, Vojtech Gall

INTRODUCTION A 100 ft long, 20 ft high and 18 ft wide NATM tunnel was excavated through grouted clean sands beneath a busy city street, including a variety of existing utility lines. The new tunnel associated with a hospital expansion will serve as a pedestrian tunnel connecting a parking structure with a new hospital facility. Tunnel construction started on December 15, 2005 when drilling for the grouting program started and was completed on May 26, 2006 when the tunnel final lining was completed. The tunnel was constructed by Kiewit Construction Company as a tunnel subcontractor to The Christman Company who is constructing the hospital facility for Spectrum Health in Grand Rapids, Michigan. URS was the project designer. GallZeidler Consultants, LLC were the contractor’s NATM consultant. PROJECT DESCRIPTION The Michigan Street Pedestrian Tunnel is a component of the Michigan Street Development located along the north side of Michigan Street NE between Coit Avenue NE and North Division Avenue in the downtown area of the Grand Rapids, Michigan. The Michigan Street Development includes a parking deck and four new towers to be constructed over the proposed parking deck. The tower planned furthest east is being developed by Spectrum Health as the Lemmen-Holton Cancer Pavillion. The purpose of the pedestrian tunnel is to connect the proposed Lemmen-Holton Cancer Pavillion with the future Spectrum building to be located on the south side of Michigan Street NE. The southern end of the tunnel was constructed with a bulkhead until the future Spectrum building is constructed at which time interconnection will be required. The tunnel site plan and profile are shown in Figure 1, Site Plan, and Figure 2, Tunnel Profile. Several challenges were faced during the design and construction of the Michigan Street Pedestrian Tunnel. These challenges included compressed design and construction schedule, maintenance of traffic and protection of old underground utilities. The tunnel was being constructed as part of the Michigan Street Development and coordination with other concurrent construction activities was required. The tunnel was constructed within a specified window of time to allow other associated construction activities to take place without compromising the overall project schedule. The design started in June 2005 and construction was completed by June 2006.

Jan 1, 2007

By W. E. Coughlin, R. L. Faverty, F. H. Lightner

Introduction The intent of this paper is to present the general strategy and method of implementation to achieve a "fast-track" mine development. The major objectives of a "fast-track" or rapid development schedule are to minimize front-end development expenditures and to realize an early cash flow from operations. The Borealis project of Houston International Minerals Corp. (HIMCO) is used as the working example to illustrate the development schedule. Borealis is a 2.3 kt/d (2,500 stpd) gold-silver heap leach operation near Hawthorne, NV, Pre-Feasibility Planning Proper early planning and identification of priority items were necessary to expedite project progress. On April 1, 1978, HIMCO leased the rights to the Borealis prospect and initiated exploration activities almost immediately. Since Borealis was showing excellent potential for mine development, an effort to clear the way environmentally was initiated during the summer of 1979. With the Borealis properties located within the Toiyabe National Forest, the US Forest Service (USFS) was recognized as the "lead" or respon¬sible agency for addressing the environmental issues. Early scoping of the environmental issues by both HIMCO and the USFS allowed HIMCO to take the initiative and address two potentially critical issues-archaeological and biological. Third party consultants, agreed upon by HIMCO and the USFS, were contracted to conduct archaeological and biological surveys. Desert Research Institute of Reno, NV, provided archaeological services, and JFL & Associates of Boulder, CO, provided biological services. These efforts began in the fall of 1979 and continued through the summer of 1980. Conservative Design Criteria By adoption of conservation design criteria, flowsheets and processing data required for detail engineering were firmly established with a minimum of impact on schedule. On Oct. 21, 1980, HIMCO formally initiated a feasibility study to evaluate the Borealis project. Four organizations were contracted for particular scopes of work: • John T. Boyd Co.: Ore reserve estimation, preliminary mine plan, and mine capital and operating cost estimation. • Bechtel Civil and Minerals: Conceptual engineering, processing capital and operating cost estimation. • Hazen Research Inc.: Metallurgical testing. • Sierra Pacific Power: Cost estimation for power supply. Metallurgical testing and conceptual engineering of both heap and agitation leach flowsheets were investigated concurrently. Numerous economic evaluations were conducted for both heap and agitation leaching at varying production capacities. The results indicated a heap leaching flowsheet treating 454 kt/y (500,000 stpy) yielded the best economics and was compatible with the "fast-track" development goal. Conservative design criteria was established to provide operating flexibility and ensure plant productivities. A summary of major design criteria is presented in Table 1. HIMCO assembled the results of the studies of the various consultants along with internally generated studies to produce the feasibility document. The decision to supply 100% equity by HIMCO rather than arrange project financing help to expedite the project. Cooperation Between HIMCO and Regulatory Agencies With cooperation and mutual trust established between HIMCO and regulatory agencies, the time required for environmental permitting was streamlined as much as practical. To expedite the required construction permits, HIMCO proposed to the USFS that HIMCO fund the total cost of an Environmental Assessment Report (EAR) and that issues be addressed at the technical level of an Environmental Impact Statement (EIS). The previous studies on the critical issues of archaeology and biology provided HIMCO with the information to satisfy the proposed approach. Houston International Minerals and the USFS agreed to have Environmental Research and Technology (ERT) of Fort Collins, CO, prepare a draft EAR for the USFS.

Jan 11, 1983

By Norbert Patzelt

Today the standard method for grinding ore is the wet process. This is mainly due to the fact that the downstream process is wet and considering the total circuit dry grinding is not the most eco­nomical method for the comminution of the ore. Presently in gold ore processing dry grinding is only applied in cases where whole ore roasting is required downstream from the milling plant or if organic carbonaceous matters and sulfides are the primary reasons for the refractoriness. Since dry ore can be fed to the roaster, a dry grinding mill can advantageously be applied. In cases where d1y grinding could be applied advantageously for instance if the ore contains water soluble material and wet grinding is not possible there are serious concerns prevailing within the industty against this technology due to several reasons. Besides of the aspects as discussed later in this paper, there are several plants in operation with little success and considerable operational prob­lems. The reasons for this often lie in the fact that the several com­ponents of such a plant are bought from independent sources with­out considering the system requirements. It is essential that the dry grinding plants require accurate design between drying, pneumatic transport and grinding of the ore in the circuit. This paper will address some of these concerns raised in the industiy from a mill vendor's view along with discussing the development for the selection and configuration of the various dty grinding circuits.

Jan 1, 1998

By Ryan P. Sullivan, Ben D. DiFiore, Robert J. Auber, Michael A. Piepenburg, Lisa M. Smiley

Pollution to Lake Erie will be significantly reduced by the Westerly Storage Tunnel (WST) system, which is mainly comprised of a 10,000-ft long tunnel and a dewatering pump station in the downstream tunnel shaft. Separate construction contracts for the tunnel and pump station required careful management of the interface risks. A key decision was to decouple the projects by relocating the mining shaft away from the pump station. The need to receive the tunnel boring machine (TBM) in the pump station shaft was eliminated by dismantling the 28-ft diameter TBM in the tunnel then carrying it back through the tunnel and up the mining shaft. This paper discusses how interface risks were successfully managed during design and construction to limit overall schedule impacts.

Dec 1, 2022

By J. Sammarco

Proper illumination is critical to a miner?s ability to detect hazards in underground mines. Moving hazards are often located in the miner?s peripheral field-of-view, while slip/trip/fall hazards are often located in the forward field-of-view. The objective of the research described in this paper was to determine if light-emitting diodes (LEDs) improve visual performance as compared to traditional incandescent (INC) cap lamps. The research presented focuses on comparative studies of a National Institute for Occupational Safety and Health (NIOSH) prototype LED, a commercial LED, and an INC camp lamp. Thirty subjects participated in these studies; ten subjects in each of the age groups: 18 to 25 years, 40 to 50 years, and 51+ years. Visual performance was quantified by the subjects? speed and accuracy in detecting hazards, while visual performance for disability glare was quantified by the use of contrast sensitivity tests. Results suggest that LEDs with a visible spectrum containing a higher concentration of the shorter wavelengths can enable visual performance improvements with respect to disability glare, the detection of moving hazards in the peripheral field-of-view, and the detection of floor hazards in the forward field-of-view. The NIOSH prototype LED cap lamp provided the best visual performance improvements for the older age groups in every test. Disclaimer: The findings and conclusions in this report have not been formally disseminated by the National Institute for Occupational Safety and Health and should not be construed to represent any agency determination or policy.

Jan 1, 2009

By R. J. McLaughlin

Acid mine drainage (AMD) can occur as a natural phenomenon through oxidation of sulfide minerals. Oxidation by air and water can be exacerbated by mining. Because AMD can exhibit low pH, it is capable of extracting heavy metals from mineral deposits. The result is highly acidic drainage with elevated heavy metal concentrations -the combination of which can cause extensive environmental damage. Because of the importance of these factors, this paper is focused on sulfate based AMD. Due to widespread mining, the occurrence of AMD is ubiquitous. As a result, several approaches to treatment have been developed. Chemical treatment using alkali is most commonly employed to treat AMD. There are alternative methods of treatment, as well as alternative ways of handling treatment sludges or concentrates. Dewatering of sludge or concentrates is beyond the scope of this paper.

Jan 1, 1996

By Michael Chender

The rapid and continuing expansion of computer and communication capability is giving birth to profound changes in the business environment. Some commentators hold that the basis of the world economy has already shifted from industry to information. Regardless of the overall implications of these changes, it is now clear that every company potentially has both access to and a need for much more information for decision making than was the case a few years ago. The importance of information to the mining industry has been underlined by the rash of unexpected economic and political developments and by the accompanying market volatility that have marked the past decade. It should be abundantly clear to even the smallest mine operator that the price for his output can be instantly affected by unexpected developments halfway across the world. Nevertheless, many mining companies still are much less sophisticated about information than they might be. For many, the historical feeling that information is an unnecessary luxury for a production-oriented business still seems to linger. On the other hand, the overwhelming volume of source material, uncertainty as to its accuracy, and the problems of finding relevant material when needed, presents stumbling blocks to viable systems of information management. Introduction When a company needs certain information, it has two basic alternatives. It can either research and develop the information in-house or pay for someone else to do it. Few mining companies have the in-house capability to assemble information needed for careful planning. On the other hand, companies often engage consultants to find information that is in fact easily accessible. All too often companies give up on procuring needed information because of the frustration of not being able to find it, and of not wanting to pay seemingly exorbitant sums for someone else to produce it. The result is poor planning. This article addresses two aspects of the information problem-finding the right sources and then accessing the particular information desired, especially as it pertains to nonferrous metal exploration and development issues. In the first section, major English-language sources that report on exploration and development (excluding primary sources of geological information, such as technical journals) are discussed.* In the second section, some available techniques for efficiently accessing this information are presented, focusing on the new MINESEARCH database system. Part One: The Information Following the News The most obvious way to follow exploration and mining developments from a distance is through regular mining media. Many active mining districts have local newspapers, usually published in the district's major towns, that give extensive coverage to miningrelated activities. For instance, to follow activities in Idaho's Coeur d'Alene silver district, one might subscribe to the Kellogg Wardner News and/or the Wallace Miner. Similarly, one might get the Sacramento Bee for news of current mining developments in north-central California. The American Metal Market, published in New York, is the daily newspaper that covers the metals industry as a whole, both in the US and abroad. Its coverage is weighted towards the refining, manufacturing, and consumption end of the business, but it frequently carries stories on mining activity, company dealings, and market outlooks. For news of major mining companies, the daily Wall Street Journal provides occasional coverage of North American companies, while the Financial Times of London serves as probably the best single source for worldwide company information. International Coverage There are three metals industry weeklies that have broad international coverage and readership. These are Metal Week, Metal Bulletin, and Mining Journal. Each has its strengths. Metals Week, a McGraw-Hill newsletter, focuses primarily on news of the metals markets, concentrating on those developments that are seen to most directly affect the price of nonferrous metals. Metals Week is strongest on North American news. Metal Bulletin, published in London, is particularly strong on

Jan 4, 1983

By Ian Farrell, Josh Stowe, Eric Wingeard

Tailings transport system design is generally based on identifying the minimum and maximum process boundary conditions for pump selection and pipeline sizing. The approach is robust and well-proven. However, the approach has the potential to skew selections to operating scenarios that have a very low likelihood of occurring, such as the combination of high solids throughput and low tailings solids concentration. The approach can result in a tailings transport system design that is overly conservative. A probabilistic method-based approach captures the independent variability of design inputs and the combined likelihood of outcomes. This approach identifies the process conditions that have the highest likelihood of occurrence and are most applicable to equipment and pipeline selections. An outline of a probabilistic-based approach to tailings transport system design and the resulting selections is provided in this article. The probabilistic-based system design is compared to the outcomes from the traditional approach. The benefits and challenges to this approach are discussed and recommendations for utilizing this approach for tailings transport system design are provided.

Mar 31, 2021

By R. L. Garrett

The quality of mineral additives used in a drilling fluid (mud) can dramatically affect the fluid's properties and the overall cost of drilling an oil or gas well. The principally wed minerals are bentonite, barite, barite/hematite blends, and hematite alone. The high specific gravity minerals, barite and hematite, are used to increase drilling fluid density. Bentonite clay is used to increase drilling fluid viscosity and gel strength and to provide a low permeability filter cake. A multimillion dollar investment in a well and the safety of the personnel on the drilling rig can depend on how effectively these mud additives perform with other constituents in the mud. This paper points out effects caused by small amounts of certain carbonate and sulfide mineral impurities in barite or hematite and how polymeric extender additives in bentonites contribute to unpredictable behavior of a mud. Effects like these are the reason oil companies using these materials sometimes set their own quality standards beyond those already specified in APZ Spec. 13A. Also discussed in this paper are the current standardization activities of API Committee 13 on these minerals.

Jan 1, 1988

By Steve J. Czehura

The Butte quartz monzonite is the host rock for early porphyry copper style mineralization and subsequent mesothermal-epithermal, enargite-gold style veining that transects the district. The east-west Anaconda system veins sustained mining for over a century. They include the Emma, Anaconda-Original, Syndicate, Badger-State and Alice-Rainbow veins, each with strike lengths of more than 3,660-m (12,000-ft) and vertical continuity in excess of 1,370-m (4,500-ft) with mining widths from 1.5- to 15-m (5- to 50-ft). These characteristics are unique to Butte. The incredible dimensions and tenor of these veins have yet to be surpassed and Butte is still touted as being the “Richest Hill on Earth.” The Anaconda Company was formed in 1895 to develop underground copper reserves in the district. It eventually consolidated all operations under one company. Production from underground mining continued through the mid-1970s. Openpit mining in the Berkeley pit began in 1955 with the extraction of supergene ores, along with the remnants of deeper horsetail zones inaccessible to the underground mines.

Jan 1, 2006

By Weijian Yu, Jianbiao Bai, Jinlin Xin, Shiqiang Xu, Shuai Yan, Zizheng Zhang, Hai Wu

The retained roadway subjected to dynamic loading from thick and hard roof (THF) fracturing caused severe deformations in the thick coal seam (TCS). Understanding the dynamic loading mechanism of gob-side entry retaining (GER) in TCS with THF is the first step in determining the stability of the retained roadway. Characteristics of dynamic loading mechanism of gob-side entry retaining (GER) in TCS with THF are investigated through numerical simulation and field test of 150208 haulage gate in Sucun coal mine. To improve the reliability of numerical simulation, the double-yield model is used to simulate gob and the strain-softening model is used to simulate filling body; the dynamic module in FLAC3D is used to simulate the dynamic loading due to the THF fracture, and the global model are validated. Characteristics of surrounding rock convergence, plastic zone distribution, and vertical stress in the filling body after the THF fracture are reveled with respect to width to height ratio (W/H) of the filling body and the dynamic loading strength of the THF. The rational width to height ration of the filling body constructed with high-water materials is 0.57. Field monitoring results show that the GER with THF in Sucun coal mine could adapt the dynamic loading due to the THF fracture and meet the requirement. This study is helpful to better study the stability of GER according to the breaking dynamic load of THF and provides reference and guidance for the analysis of breaking dynamic load of THF under similar geological conditions.

Feb 23, 2023

By H. Lyn Bourne

This is the ninth annual tabulation of royalty information. Again this year, some of the older information has been deleted to make room for more than 30 new entries. Several articles and publications crossed the author's desk this past year that relate to mineral valuation and mineral royalty. Tom Loucks presented a paper, "The Valuation of Hard Rock Mineral Property," at the Rocky Mountain Mineral Law Foundation in Santa Fe, NM in July, 1990. His paper gives an indepth explanation of the definitions and concepts related to mineral valuation. It includes descriptions of numerous legal cases that have dealt with mineral valuation and proper reference is given for each case. Loucks works for the Denver Mining Finance Co. Gold royalties generally range from 5% to 7%, net smelter return. However, Severn Brown sent information that shows a much wider variation. Echo Bay Mines reported in its 1989 annual report royalties that range from 1.5 % to 30% for gold from various gold properties. Brown also sent a copy of an article that appeared in the Dec. 27, 1982, issue of Fortune magazine. This issue carried an article by Walter Guzzardi, Jr. "The Huge Find in Roy Ash's Backyard." The article gives the history of Newmont's leasing in Nevada on property that became the Carlin, Bootstrap and Blue Star Mines. The article states that the initial royalty was 10% that escalated to more than 16%. Another property, the site of Gold Quarry, provides an 18% royalty to the same own¬ers. The article makes interesting reading for those interested in mining history.

Jan 1, 1991