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By W. McCombe, G. Remple, L. Nightingale-Mercer

The McClean Lake Mill is located approximately 850 kilometres north of Saskatoon, Saskatchewan, Canada, and is operated by Orano Canada Inc. (Orano). The mill was designed to process high grade uranium ores, and a multi-year expansion was completed in 2014 to increase its production capacity to 24 Mlbs U3O8 per annum. The mill also underwent various upgrades to allow it to safely transition from processing low grade ores to high grade ores from the nearby Cigar Lake Mine. During the metallurgical test work on the Cigar Lake ores, it was identified that some ore zones of the deposit have a propensity to generate hydrogen gas during acid leaching. Hydrogen is a volatile and explosive gas, which poses obvious safety concerns in the leaching circuit. Uranium processing is further complicated by the fact that an oxidant in the form of oxygen gas or hydrogen peroxide is required to regenerate iron in the leach, which further increases the risk posed by hydrogen gas. During 2013 Orano and its consultant Hatch designed and engineered several novel upgrades to the leaching circuit to mitigate the risk of hydrogen gas evolution in the process. Best in class technology was utilized in addition to control and operating strategy changes to ensure the leaching circuit could be safely operated with ores that evolve hydrogen gas. This paper reviews the design concepts and modifications implemented on this unique and challenging project, and also provides an update on the operational reality of hydrogen in the circuit gained through five years of operational experience with hydrogen evolving ores.

Jan 1, 2020

By John Rowson, Caitlin Brown, Kebbi Hughes, Joseph Esslifie-Dughan

The McClean Lake mill in northern Saskatchewan, Canada, is operated by Orano Canada Inc. and has been in production for the last 20 years. The tailings preparation process at the mill has been designed with decommissioning in mind, to produce tailings that are geochemically stable over the long-term within the site’s tailings management facility. Twenty years of study have contributed to a detailed understanding of geochemical and geotechnical properties of the McClean Lake tailings. Validation of the tailings properties has occurred through in-situ sampling campaigns conducted initially every year, and later every five years. Each sampling campaign has applied the same rigorous sampling procedure to provide data with useful correlations year over year. Each campaign result compares elements such as the inherent variability of the tailings, consolidation of the tailings and variations in the tailings placement methods. We will discuss lessons learned from seven sampling campaigns over 20 years and present data to show the reliable tracking of geochemical evolution of the in-situ tailings over time; providing opportunities for continuous improvements.

Jan 1, 2020

By B. K. Ayres

Modern management of uranium mine or mill waste storage facilities (WSFs) often requires that they be remediated or decommissioned with a cover system. In addition to creating a self-sustaining landscape that supports the end land use, cover systems are intended to reduce long-term risks to human and ecological receptors from the stored waste to acceptable levels. The performance and longevity of a cover system will be strongly influenced by the features or shapes of the WSF final landform. Hence, cover systems and landforms must be thought of as an integrated design. Based on the author’s experience, the most important elements of the design process for maximizing the potential of WSF final landforms / cover systems being sustainable over the long term are noted in this manuscript. Several key items that must be considered and addressed during the planning phase of constructing a WSF final landform are also described. Various methods for monitoring performance of a WSF final landform are also reviewed. Key aspects associated with decommissioning a tailings WSF and waste rock pile at the former Cluff Lake uranium mine in northern Saskatchewan are included to illustrate many of the practical insights provided in this paper.

Jan 1, 2020

By B. Pewkliang, K. Ehrig, E. Macmillan, M. Smith, V. Liebezeit, Y. Li

The Olympic Dam iron-oxide copper-gold (IOCG) uranium-silver deposit is the largest publicly declared uranium, fifth largest copper and third largest gold resource. Currently, the operation consists of an underground mine and integrated processing plant. Uranium is produced from leaching of flotation tailings and is a co-product to copper cathode with by-product gold and silver bullion. The Olympic Dam geometallurgy team began studying ore from the Southern Mine Area (SMA) in 2006 and soon discovered uranium behaviour was far more variable than the behaviour in the Northern Mine Area, which had been mined from the start of the operation in 1988. The primary objective of Olympic Dam geometallurgy is to develop metallurgical performance predictors that reliably describe the process performance of different ore types and distribute these into the resource block model for use as a fundamental input into mine planning. The nature of the uranium mineralisation (compositionally and texturally complex and highly variable) meant that classic mineralogy techniques alone could not provide the resolution required for prediction of uranium extraction. However, the combination of quantitative mineralogy, results from laboratory-scale leach tests and modelling within the geometallurgy program has enabled prediction of both uranium flotation recovery (via association with sulphides) and uranium leach extraction, including at variable leach conditions. These stope-based predictions have supported trade-off decisions between operating costs and uranium revenue, and have predicted the changing recovery as the mining operations have moved into the Southern Mine Area in recent years.

Jan 1, 2020

By Troy Boisjoli

Since its discovery in February 2014, the Arrow Uranium Deposit has undergone rapid development through aggressive and systematic drilling programs and is now being progressed through advanced engineering and permitting. Based on the 2018 NI 43-101 Technical Report, the Probable Mineral Reserve estimate totals 234.1 million (“M”) pounds (“lbs”) triuranium octoxide (“U3O8”), contained in 3.43 M tonnes at an average grade of 3.09% U3O8. The proposed processing plant at the Rook I Project (the “Project”) will be capable of producing up to 31 M lbs of U3O8 per year, with a projected mine life of nine years based on the Probable Mineral Reserve estimate, although NexGen is permitting a 24-year operating life at the Project assuming the majority of Inferred Mineral Resources are upgraded to Indicated Mineral Resources with continued mineral resource development drilling. The Project will be developed through transverse and longitudinal longhole mining methods, pairing primary and secondary stoping techniques with a high degree of equipment mechanization which will provide a combination of good productivity, high extraction, and stable back support. This next generation of uranium operations combines the use of advanced tele-remote equipment and instrumentation with a low-cost bulk mining method and a best-in-class tailings management practice, effectively reducing operating costs and setting a new standard for elite environmental and social practices.

Jan 1, 2020

By Gwenaële Petit, Ulan Massimkhanov, Gilles Joubert

For its Zuuvch Ovoo uranium deposit in Mongolia, Badrakh Energy (partly owned by Orano Mining) is working on the prefeasibility study for exploitation by ISR (in situ recovery). As part of this project, Orano built a 2-cell (each cell is constituted of one producer well located in the center and surrounded by six injection wells in an hexagonal pattern) and a processing pilot plant that will be used to demonstrate the operability and economic viability of an ISR process. Another main objective of this pilot trial is to demonstrate the ability of Orano’s modeling tools to predict the ore behavior under given leaching conditions. To model uranium production by ISR, Orano uses HYTEC, a reactive transport computational software, which was adapted for its existing operation in Kazakhstan (Katco) to predict uranium recovery and reagent usage based on operating conditions. In order to perform similar simulations for this new deposit, Orano engaged in a comprehensive program including ore sampling, detailed characterization, and metallurgical testwork. The mineralogical conclusions were used to prepare a simplified geochemistry for the ore, in particular carbonate and reactive clay grades, uranium mineralization and penalizing elements such as pyrite. Then, bottle roll leach tests were used to characterize dissolution kinetics for smectite clays. Eventually, column leach test results such as pH, free acid, and uranium recovery were modeled on HYTEC to improve the fit of some of the dissolution kinetic parameters. Parameters fitted using metallurgical test work results will now be used as inputs for predictive model at the pilot scale, in order to anticipate operational results and help with operating decisions for production ramp up.

Jan 1, 2020

By Georges Croisé, Les-Lee Thompson, Adrien Debergé

Membrane filtration systems have regained focus in recent years as an effective means of liquid-liquid separation to increase the concentration of valuable elements, recover reagents or remove impurities. ORANO Mining (formerly AREVA) investigated this cost optimization process opportunity as early as 2011 for implementation at the Trekkopje project (Namibia). The key focus was to separate and recycle bicarbonate from the uranium bearing eluate solution. The performance targets were successfully achieved at lab- and pilot scale with an ultrafiltration and nano-filtration configuration system. Early 2015, ORANO Mining further launched an investigation into the use of membranes for acid recycling at the KATCO In Situ recovery mine in Kazakhstan based on the favorable results from the original bicarbonate application. KATCO is the world leader in ISR uranium mining with an eluate processing capacity of 80 000 m3/yr. This site consists of two processing plants namely, Muyumkum and Tortkuduk, located 40 kilometers apart, both operating under acidic conditions whereas precipitation and packaging are based in Tortkuduk only. This paper serves to present the results from the integration of a nano-filtration system at the Muyumkum satellite processing plant. The project consisted of screening laboratory bench studies conducted at ORANO-CIME followed by process validation at KATCO through further bench and pilot test work. The feasibility study assessments were successfully concluded which led to the implementation at an industrial scale in Muyumkum of a nano-filtration process to reduce eluate volumes being sent to the uranium precipitation section whilst achieving effective separation of uranium from sulfuric acid. Nano-filtration technology has drawn significant attention due to the efficiency and reproducibility of the process and its moderate capital cost relative to operational savings. The reliability of the previous results is a great opportunity to reduce operative expenditures within ORANO’s next ISR mining project in Mongolia.

Jan 1, 2020

By J. E. Quinn, S. Wolstencrof, K. H. Soldenhoff

Ion Exchange (IX) using Strong Base Anion Exchange (SBA) resins is conventionally used to purify uranium from sulfuric acid pregnant leach solutions (PLS), particularly when uranium grades are relatively low. However, the presence of chloride in the PLS interferes negatively with conventional SBA based IX processes, by reducing the uranium loading on the resin. Chloride can be present in the PLS due to the use of saline bore or seawater in leaching, or chloride containing leach/IX reagents. ANSTO has been examining strategies to combat this problem for several years. ANSTO previously reported that a recently developed high-capacity SBA resin was capable of extracting uranium efficiently from saline leach liquors produced at Boss Resources’ Honeymoon in-situ recovery mine in South Australia. The resin was tested successfully in a 2017 Field Leach Trial carried out onsite in the existing wellfield area. While the piloting was extremely promising, the elution was more challenging, with eluate tenors limited to 2 g/L U3O8 using NaCl. This is due to the resin’s strong affinity for the uranium complex, which makes it difficult to elute efficiently by standard methods. In this paper, we describe a novel elution process developed for strong base resins that significantly improves upon conventional methods. The process, developed by ANSTO, is based upon conversion of the extracted uranyl sulfate species to uranyl carbonate, followed by elution with sodium chloride. The loading and elution process was demonstrated in continuous locked-cycle piloting conducted at ANSTO in 2019. The results were excellent, with eluate tenors of 8–9 g/L U3O8 achieved from Honeymoon PLS containing 50 mg/L U3O8, with very little transfer of impurities. In subsequent test work, the eluate was shown to be amenable to uranium peroxide precipitation. The results represent a huge step forward for the purification of uranium from saline leach liquors.

Jan 1, 2020

By J. Gogal

Cameco's Cigar Lake Operation (CLO) started commercial uranium ore production in 2015. Initial mining was focused in areas of the ore body with relatively low concentrations of elements of concern (EOCs). As mining progressed into areas of the ore body that were richer in EOCs, some statistically significant behavior of certain analytes was noted in the water treatment circuits. It was ultimately found that the CLO ore body natively hosts numerous alkyl arsine compounds in addition to inorganic arsenide minerals. The alkyl arsines were found to be recalcitrant to typical adsorption on ferrihydrite, with the degree of recalcitrance associated with the degree of alkylation. A number of changes to the process circuits and water balance were performed and planned in order to inhibit the transport of alkyl arsines from the ore stream into the process water stream, and to optimize the overall site water usage. In some instances, the interactions of equipment in conjoined circuits of the process had controlling effects on the behavior of the overall circuit. Work continues to iterate upon the capital design features in order to further tighten the water balance, and to optimize water usage and operating costs.

Jan 1, 2020

By A. Aubin, H. Yang, G. Zaluski

The Athabasca Basin of northern Saskatchewan and Alberta is an exceptionally rich metallogenic region, hosting more than 2.8 B lb U3O8, of which over 927 M lb U3O8 have been mined out since extraction first started in the late 1970’s. A detailed compilation of several empirical features of 85 deposits located within the basin was conducted in order to understand the distribution and variability of the geological characteristics of the mineralization and its associated alteration. A new empirical classification was devised based on four parameters: 1) geometry of the mineralization (dimensions and relation to the unconformity surface), 2) size, grade and metallurgical complexity of the mineralization, 3) lithostructural setting, and 4) extent and nature of associated alteration haloes. This compilation defines the footprint characteristics of the Athabasca Basin deposits, which guides decision-making processes from early exploration and discovery to resource expansion and extraction.

Jan 1, 2020

By J. Aydt, W. McCombe, H. McLaughlin, L. Nightingale-Mercer

The McClean Lake mill is located approximately 850 kilometers north of Saskatoon, Saskatchewan, Canada and is operated by Orano Canada Inc. (Orano). The mill was designed to process high grade uranium ores, and in 2014 completed a multiyear expansion to increase its production capacity to 24 Mlbs U3O8 per annum. This expansion included significant changes to the mill’s secondary leach circuit in support of safely processing high grade ore directly from the Cigar Lake mine. In particular, inter-stage pumps were introduced for slurry transfer between the secondary leach tanks, replacing the original pressure feed forward operation. The design and selection process for these pumps was strongly influenced by the uncertainty related to actual radiation dose exposure when processing undiluted high grade ore (up to 30%U), and consequently the desire to maintain minimal occupancy in the vault enclosure containing the secondary leach tanks. These constraints resulted in the decision to install positive displacement pumps above the leach tanks in a suction-lift configuration. Operating experience with this design has shown that the pump capacity is significantly de-rated due to process solution gas-entrainment and pipe scale build-up, particularly in the front end of the secondary leach circuit where reagent dosage is high. Experience processing high grade ore also provided accurate radiation dose data to demonstrate that the level of occupancy in the leaching vault enclosure could be re-evaluated to accommodate alternate pump configurations. This paper reviews the lessons learned and improvements made to safely increase the capacity and reliability of the leach inter-stage pump system.

Jan 1, 2020

By Mike Dry, Rod Dry

If humanity is truly serious about reducing emissions of carbon dioxide into the atmosphere, today’s power plants burning fossil fuels will have to be replaced by power plants that do not emit CO₂. Unless carbon capture/sequestration becomes practical, the new power plants will be hydroelectric, wind, solar or nuclear installations. Hydroelectricity requires the appropriate geography. Solar installations can only deliver power as and when sunshine is available, and wind installations when the wind blows. Therefore, power from these sources will be intermittent, but the demand for electricity does not follow the patterns of sun and wind. That will require large-scale electricity storage and/or load following by the remaining power suppliers, increasingly so as the use of fossil fuelled power generation declines. Modern nuclear power plants are designed for demand following. However, operating at lower than design output has a negative impact on the economics of nuclear power plants because the overall cost of the electricity they generate is dominated by capital cost. Primary (blast furnace) iron smelting is responsible for a significant part of global CO₂ emissions because the reagent used is carbon. Were it available in sufficient quantity (and at a low enough cost), hydrogen could replace carbon in the manufacture of raw direct reduced iron (DRI), using technology such as modified HYL (Tenova Hyl, 2018) or Midrex (Ravenscroft, 2017). This paper examines a scenario in which, instead of demand following, nuclear power stations are operated at their design capacities and surplus power is used to generate hydrogen in off-peak periods. This hydrogen is then used to replace carbon in the manufacture of raw steel.

Jan 1, 2020

By C. Holmes, T. Holmes

Engineered-in material handling problems are responsible for significant unrealized value in mineral processing plants. At the root, is a lack of awareness and understanding of bulk material handling science and how important it is, especially in early design stages. Mineral processes add value to mined raw feedstock through physical and chemical transformations in unit operations, but only if the material can flow through them. Essentially, each unit operation receives a unique feedstock and produces a unique product to be collected, transported, and fed into the next unit operation. Such material-handling systems can only be expected to achieve design throughput if the system equipment is designed to the materials’ characteristics, over their full range of conditions. This requires quantification of flow properties to support the necessary customized equipment designs. Too often, assumptions or “library values” of a material’s properties are used as the basis for flow modelling and conceptual, and sometimes even detailed, design. This is especially true for hazardous materials like uranium ore, for which the additional precautions, costs, and time necessary for safe handling are often used to rationalize postponing or even bypassing testing. The surprises that often transpire in the wake of insufficient material handling consideration can have acute and costly effects. Fortunately, there is a better way.

Jan 1, 2020

By M. Vaillé, B. Bossé, N. Durupt, A. Michaut

Imouraren is a sedimentary uranium deposit (> 150,000 tU @ 800 ppm), located approximately 100 km North-Northwest of Agadez (Niger); its depth reaches 110 to 170 meters. For low-grades ores, heap leaching is commonly considered as the appropriate technology for metal recovery. More precisely, the ore is crushed (≤ 300 mm) and agglomerated before being stacked. In this case, sulfuric acid can be added during agglomeration and/or irrigation (for three months to a year) to improve uranium recovery. It is known that mineralogical, chemical and physical properties of the uranium ore impact recovery, yet many challenges remain to increase recovery using this process. For example, ore heterogeneity and spatial variability (e.g., variation in uranium, carbonate and/or clay contents) can affect heap leaching performances (i.e., metal recovery, acid consumption or neutralization, percolation rate). However, laboratory column tests using composite ore sample that do not consider ore heterogeneity are widely used to anticipate recovery. Consequently, a new approach that consists in using Imouraren drill core ore samples was recently investigated. This latter also enabled a better assessment of the main parameters that influence uranium recovery and proposed a new predictive model to optimize mining operations.

Jan 1, 2020

By CHRISTOPHER D. HEBERT, SCOTT W. HOFFMAN

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2019

By CIM Mineral Resource, Mineral Reserve Committee

The CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (MRMR Best Practice Guidelines) were prepared by the Canadian Institute of Mining, Metallurgy and Petroleum's (CIM) Mineral Resources and Mineral Reserves Committee (CIM MRMR Committee) to update an earlier version that was accepted by CIM Council on November 23, 2003 (CIM, 2003). These 2019 MRMR Best Practice Guidelines supersede and replace the November 23, 2003 version of the MRMR Guidelines. These 2019 MRMR Guidelines are not intended to be prescriptive and are not intended to provide detailed and exhaustive instructions for preparation of Mineral Resource and/or Mineral Reserve (MRMR) estimates. Rather, they are intended as general guidance to assist professional geoscientists (or equivalent) and engineers (or equivalent) in preparing high quality estimates of MRMR that incorporate sound geoscientific, engineering, evaluation and design practices. They are based on well-established estimation and mine planning principles and are designed to provide general guidelines of best professional practices employed in the preparation of MRMR estimates. Although the 2019 MRMR Best Practice Guidelines are intended for use by Canadian-based mining/exploration practitioners, many of the concepts and practices presented herein are in general agreement with current industry practices in jurisdictions with membership in the Committee for Mineral Reserves International Reporting Standards (CRIRSCO). For this document, persons preparing MRMR estimates are called Practitioners. Preparation of MRMR estimates should be carried out by Practitioners who either hold the status of Professional Geoscientist (or equivalent) or Professional Engineer (or equivalent), or who prepare the estimates under the supervision of a Professional Geoscientist (or equivalent) or Professional Engineer (or equivalent). For the purposes of this document, all references to reporting describe such necessary reports and related documentation that are created as part of the normal-course work flow of preparing MRMR estimates for internal purposes. For clarity, all public disclosure of MRMR estimates made by, or on behalf of, an issuer and intended to be, or reasonably likely to be, made available to the public in a jurisdiction of Canada must comply with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), as amended from time to time. At least one Qualified Person (QP) must take responsibility for each part of the estimation process when publicly disclosing the results of MRMR estimates. The intended audience for these 2019 MRMR Best Practice Guidelines includes Practitioners at all levels of skill and experience, government agencies, academic institutions, and the public.

Nov 29, 2019

By CIMVAL

This Code for the Valuation of Mineral Properties (the “CIMVAL Code”) is the result of a review more than a decade after the release in 2003 of the “Standards and Guidelines for Valuation of Mineral Properties” (the "2003 Standards"). The purpose of the review is to update the 2003 Standards to reflect domestic valuation, international valuation, and regulatory developments. The CIMVAL Code was adopted by the Canadian Institute of Mining, Metallurgy & Petroleum (the "CIM") Council on November 29, 2019. The CIMVAL Code supersedes the 2003 Standards. The 2003 Standards were dated February 2003 and were adopted by the CIM Council on March 9, 2003 as the first comprehensive set of standards for Valuation of Mineral Properties in the Canadian mining industry. The 2003 Standards followed recommendations of the Mining Standards Task Force of the Toronto Stock Exchange and the Ontario Securities Commission, where in its Final Report (January 1999), the CIM was specifically asked to form a committee of valuation practitioners to review and advise on standards for the Valuation of Mineral Properties. The Special Committee on Valuation of Mineral Properties ("CIMVAL") was created on May 5, 1999 with the mandate to recommend standards and guidelines for Valuation of Mineral Properties to be used by the mining industry in general. The CIMVAL Code is limited to the Valuation of Mineral Properties (including any interests therein) and does not cover valuation of corporations or other entities that hold Mineral Properties as assets. The CIMVAL Code does not cover petroleum and related assets. CIMVAL recommends that the CIMVAL Code be followed for all Valuations of Mineral Properties, including those required by securities administrators and stock exchanges. However, when a Valuation is required under the applicable rules of securities administrators or stock exchanges, such rules prevail to the extent of any inconsistency.

Nov 29, 2019

By Miguel Ângelo Menezes, Carlos Alberto Alves Viana

O presente trabalho possibilita o entendimento e a análise dos processos de conformação a quente dos metais. Isto, pela validação experimental do modelo de Johnson-Cook, para descrever o comportamento dos materiais no regime plástico, para grandes deformações, às altas taxas de deformações e nas altas temperaturas. Um entendimento dos parâmetros do modelo, utilizando-se um método analítico numérico simples, rápido e confiável foi desenvolvido anteriormente pela linha de pesquisa em Conformação Plástica dos Metais na UNESP – Campus de Ilha Solteira, obtendo-se as constantes empíricas do modelo referido. É proposto nesse trabalho a validação experimental do método simplificado para determinação dos parâmetros empíricos do modelo de Johnson-Cook através de um ensaio de tração a quente, considerando as propriedades mecânicas dos materiais analisados experimentalmente e/ou de dados de materiais disponíveis na literatura. De maneira geral, os resultados experimentais foram satisfatórios para o aço AISI 1045 à temperatura de 500 ºC, ensaiado à taxa de deformação de 1000 s-1, quando comparados aos resultados teóricos previstos pelo modelo proposto por SCADUTO e MENEZES. Particularmente, foi possível evidenciar erros máximos de 1,33% para o parâmetro n, 13,15% para o parâmetro B, 295,00% para o parâmetro C e 4,14% para o parâmetro m.

Nov 11, 2019

By J. Perlacia

"As the bulk handling sector continues its transformation to Industry 4.0, the mining industry, and its harsh working and environmental conditions, provides a perfect spot to study the feasibility of remote analysis and maintenance of the components used for bulk handling. The most important and expensive tools have been adapted to the digital era in recent years, from remotely controlled haul trucks to monitored conveyor belts.However, the big items of the installations rely on smaller parts that have been leftaside, mainly due to the difficultyof adapting them to the Internet ofThings (IoT).The paradigmatic example is the lack of monitored rollers, while all the other components of the conveyorbelt installations (the belt itself, motors, drums, etc.) were monitored some time ago. The main problem is that a failure of a single roller can cause the stoppage of the entire conveyor, due to possible damage to the belt. Thus, the implementation of an integral monitoring system of all the components of the conveyor is a must.The research and development department of ULMA Conveyor Components has been working since early 2012 on the development of monitored rollers, testing all the problems until their final installation in different demanding conditions, from the extreme heat in Australia to the freezing cold of Norway. All the tests have been done under actual working conditions, in real installations and have provided valuable knowledge in the identification of problems, their solutions and the final advantages of a roller monitoring system.Background and current stateThe malfunction of a single roller in certain conveyor belts can force the standstill of the entire installation until its replacement, due to the risk of greater and more expensive failures, such as a rip in the belt. In the case of a bulk handling installation, where a continuous supply of material is necessary, an unexpected stop of one hour could result in huge economic losses."

Nov 1, 2019

By F. L. Pirkle, W. C. Bagby

"In his 1989 book, The New Realities, Peter F. Drucker, Clark Professor of Social Science at Claremont Graduate School, Claremont, CA, stated: “Information is data endowed with relevance and purpose. Converting data into information thus requires knowledge. And knowledge, by definition, is specialized” (p. 209).The discipline of mineral valuation is knowledge-based and requires a mineral valuer to collect, analyze and interpret data that are material to a mineral-valuation assignment. In so doing, the valuer turns the data into information (data come first, followed by information as determined by the mineral valuer) for use by the client (from whom the valuer obtained the mineral-valuation assignment) and other intended users. The valuer uses his or her experience and education (each valuer’s knowledge base) supported by a foundation built upon competency, materiality and transparency, the three pillars of mineral valuation (minerals valuation, mineral-property valuation).The International Mineral Valuation Standards Template (IMVAL Template), third edition dated May 2018, defines mineral valuation as: “The estimation of the value of a mineral property in money or monetary equivalent. The word ‘valuation’ can be used to refer to the estimated value (the valuation conclusion) or to refer to the preparation of the estimated value (the act of valuing)” (p. 14).Furthermore, the IMVAL Template clearly separates valuation from evaluation: “The template deals with valuation, which is distinct from evaluation. The distinction inherent in these defined terms is that valuation addresses the estimation of value of a mineral property, whereas evaluation addresses the broader assessment of a mineral property for an investment decision (p. 2).”This is an important difference because the minerals industry commonly makes investment decisions using feasibility studies to evaluate a proposed mineral development and production project. The purpose of such investment-decision analysis is distinctly different from valuation of a mineral property, no matter where that property lies upon the mineral explorationdevelopment- production-reclamation timeline (Fig. 1). Valuation involves terms such as market value, just compensation, fair value, etc., whereas investment-decision analysis is concerned with the economic viability of a given proposed project. Although feasibility analysis and market valuation can both use discounted cash flow (DCF) analysis as a tool, the formulation of the DCFs and their interpretation are different."

Nov 1, 2019