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By H. C. Gunning

DURING the past year the Cadillac-Malanie area in northwestern Quebec has been catapulted to the front as one of Canada's most active gold mining districts. Late in 1934 the area was lolling along in the doldrums, with one producing mine and a handful of active prospects. 1935 passed with only slightly increased activity, but saw the start of production at Canadian Malartic mine. Lightning struck in April, 1936, when a new and phenomenally rich ore-body was found in O'Brien Gold mine, and by midsummer the camp was ablaze with activity. An important new discovery on the Pan-Canadian property, and pleasing underground developments at Sladen Malarric, East Malartic, and Lapa Cadillac, in addition to other new developments, lent fodder to the flame, and at present several dozen properties are being actively developed. For the past three seasons, the Geological Survey of Canada has been engaged in a fairly detailed study of the geology and mineral deposits across Cadillac, Malarric, and Fourniere townships. Ir is the purpose of this paper to present a brief preliminary statement of the structural and economic geology and to discuss some of the more important problems that have been found to exist. The reader is requested to remember that the paper is a preliminary one and that therefore the conclusions presented are open to revision. It is impossible to make full acknowledgment for help received, for the writers are indebted to practically every operator and prospector in the area for generous co-operation in the work, and to several private, provincial, and federal geologists for data and frank discussion of problems encountered. Over a score of student assistants from McGill, Queen's, and Toronto have given excellent service. Published reports by Wilson, Cooke, James, Mawdsley, L. V. Bell, and J. J. O'Neill greatly facilitated the work. For adequate control surveys and a topographic base-map, the writers are greatly indebted to H. N. Spence.

Jan 1, 1937

By W. J. Mcgaughey

A crosshole seismic imaging (tomography) experiment has been carried out in an underground mine in order to delineate waste rock within a massive sulphide ore body. Data comprising 1526 travel time measurements were inverted to yield a compressional wave speed image consistent with, and adding to, knowledge of the extent of the waste inclusions. An effective method of resolving travel time discrepancies measured on reversed ray paths is presented.

Jan 1, 1989

New Zealand China Clays produces a unique halloysite clay product at Matauri Bay, Northland.   The company has licences over four deposits that were derived from the weathering of rhyodacite domes. Clay is mined and processed from two of the four deposits and is refined using a complex process based on gravity separation.   The product is almost entirely exported to niche markets in 24 countries. The main market is the fine ceramic industry where the product is used as a component in the manufacture of high quality porcelain and bone china bodies. The use of halloysite in these bodies gives the manufacturer the ability to achieve high whiteness and translucency. The other major market is for use in technical ceramics, where the product is sought after due to its high purity, fine particle size and stability at high temperatures.

Jan 1, 1997

By T. A. Wedge

This paper suggests a crude correction for the impact of raw material quality on factor productivity in the Canadian mining industry. Such a correction would give a figure more dependent on the changing efficiency of the use of labour and capital, and less dependent on the effects of unquantified changes in inputs.

Jan 1, 1973

By George J. Conroy, Angel G. Jordan, Eugene W. Bartel

Time-domain reflectometry has long been an accepted and used method for locating electrical faults in electrical cables. The process has, however, required the use of equipment that is somewhat complex and difficult to use. The skill level needed to operate such equipment is high. Therefore, the use of the time-domain reflectometry process has been limited to selected locations and controlled environments. The process, however, has great potential for mine system applications. The ability to locate and repair trailing power cable without removing it from the mine would result in great savings in cost and employee-hours. Therefore, an automatic microprocessor-controlled time- domain reflectometry system was developed to reduce process complexity and skill level needed to operate the unit. The theory of operations is discussed along with the computer analogies used in the unit. The present unit capabilities are presented and future areas of application and research are discussed.

Jan 1, 1979

By K. Ananthanarayanan, R. I. L. Guthrie, S. A. Argyropoulos

"The low cost and availability of micro-computers and their peripherals provides the metallurgical engineer with the opportunity to use such computers in a wide variety of applications. In this paper, the authors describe the development of a low cost data acquisition system capable of measuring up to 8 analogue channels at a sampling rate of up to 5000 measure mentsper second. This system is equipped with proper hardware and software so that the micro-computer can be linked to a central computer facility such as the McGill System for Interactive Computing (MUSIC). This central computer facility is supported by an AMDAHL V7 computer. Using the present interface, communication rates between the microcomputer and the central computing facility can be as high as 9600 (baud).The above mentioned data acquisition system is currently used for monitoring dissolution kinetics of ferro-alloy additions in liquid steel. In addition to this, special software has been developed which enables the user of this system to monitor solidification rates of ingots, etc. As economic considerations are always important, comparisons have been made with existing recorders which show that the cost Of the present system is only 30 per cent more than a two-pen strip chart recorder.RESUMELa disponibilité et le bas prix des micro-ordinateurs et de leurs périphériques permet à l'ingénieur métallurgiste d'utiliser de tels ordinateurs pour diverses applications. Dans ce rapport, les auteurs décrivent le développement d'un système d bas prix pour l'acquisition des données, capable de mesurer jusqu'à huit canaux analogues jusqu’à une vitesse de 5000 mesures par seconde. Ce système est équipe avec son propre ""hardware"" et ""Software"" qui relient le micro-ordinateur d’un ordinateur central, comme le système de McGill pour computations réciproques (MUSIC). Ce central d'ordinateurs est soutenu par l'ordinateur AMDAHL V7. Utilisant cet "" interface"", la vitesse de communication entre Ie micro-ordinateur et l'ordinateur central peut atteindre jusqu'd 9600 (baud)."

Jan 1, 1980

By W. S. Gillam

A need for new supplies of fresh water exists today and in many specific areas that need is urgent. One solution lies in saline water conversion, a problem complicated by cost factors. The principles involved in saline water conversion, the status of development, and the estimated costs (present and future) of several processes are presented. Among the methods discussed are distillation, electrodialysis, and freezing. In general, the costs presented are based on a standardized procedure for estimating conversion costs, permitting a valid comparison among the various processes. The need for new supplies of fresh water and the potential benefits to be derived from an abundant supply of converted water are recognized by practically everyone concerned with water problems. The water supply problem exists today; it is urgent in many specific areas in this country and also in the world, and it will become more acute in the future. One answer to the growing problem of adequate water supplies is the development of new sources. Very significant quantities of brackish underground and surface waters exist in certain areas and an inexhaustible supply of ocean water is available. Thus in many areas water resources can be extended through saline water conversion. Congress recognized the need for new sources of fresh water in 1952 and passed the Saline Water Act, Public Law 448, amended it in 1955, and in September 1958, enacted Public Law 85-883, calling for the construction of at least five demonstration plants. The program is administered by the Dept. of Interior through the Office of Saline Water, and its primary objective is to reduce the cost of converted water produced, whether it be by development of new processes or improvement of known processes. This is a most difficult problem and one that will require several years of prodigious effort. It is difficult—not because of any intricate or new chemistry, engineering, or physics involved—but because of the difficulty in converting water at low cost. Whatever the sources of the saline water, the salts which are held tenaciously in solution must be removed before the water becomes suitable for industrial or domestic uses. Saline water is a relatively simple system of salts dissolved in water. It has certain chemical and physical properties that determine the various methods by which the salts may be separated from the water. The system, although not complex, in most instances, has had countless years in which to reach equilibrium and is, therefore, comparatively stable. Because of its stability, separation of saline solutions requires relatively large quantities of energy. The unique properties of water depend on the fact that its molecules are chemically active. The chemical and physical properties of water are associated with the type of bonding involved in the water molecule. Chemical changes such as hydrolysis, or rusting of iron, involve the breaking of chemical bonds between the hydrogen and oxygen atoms. Physical changes, such as evaporation in a boiler, the melting of ice, or the viscous resistance to flow in a pipe, involve breaking of the hydrogen bonds. (The hydrogen nucleus is so small that it can attract two negative atoms.) Thus water molecules not only combine with molecules of other compounds but even with one another; e.g., each molecule may be bounded to four other molecules. Water molecules cling to the ions of dissolved salt to form water-encumbered hydrated ions and they cling to one another to form entangling networks through which hydrated ions can be propelled only by tearing the networks apart. That is one reason why considerable energy still needs to be expended in our simplest procedures for purifying water. If water molecules did not have this habit of clinging so tenaciously to other molecules, and to one another, it would be easy to push salt ions past the water molecule and get a separation. But the water would not then dissolve salt, so the problem would not exist.' Water when heated evaporates very slowly, relative to other liquids having simple molecules. Vaporization involves the separation of molecules from the liquid, and this means overcoming the attraction between molecules which is due to the hydrogen bonding. The heat of vaporization for water is high; consequently, the boiling point of water is also high. Water boils at 100" C; hydrogen sulfide (H2S) at -60" C; oxygen (02) at -183" C; nitrogen (N2) at -196" C; and methane (CH4) at-161°C, even though the latter has about the same molecular weight as water. Because of these peculiar properties of water, it exists as a liquid on earth instead of a gas such as hydrogen sulfide or nitrogen and oxygen.

Jan 1, 1961

By Jose R. Parga

In mining operations, cyanidation is the ,predominant method by which gold and silver are recovered from their ores and it is recognized that cyanide consumption can be a major factor that contributes to the operating costs for such operations. Also after extraction and recovery of precious metals a certain amount of cyanide is delivered to the tailings pond and must be considered with respect is environmental problems due to the toxicity of cyanides. In this regard, the Air-Sparged Hydrocyclone (ASH) has been used as a reactor for the treatment of cyanide solutions in two ways; first for cyanide recovery by acidulation using the Mexican modification of the Mills-Crowe process and second for cyanide destruction by oxidation with the use of chlorine dioxide (ClO2). In both cases, excellent performance can be achieved using the high capacity ASH system.

Jan 1, 1998

By A. Steiner, K. L. Komarek

Activities of aluminum in solid Ni-A1 alloys have been determined between 20 and 60 at. pet Al and 1200" and 1400°K by an isopiestic method in which nickel specimens, heated in a temperature gradient, are equilibrated with aluminum vabor in a closed all-alumina system. The activity of aluminum shows a strong negative deviation from Raoult's law at low concentrations but increases by three orders of magnitude within the ß(NiAl) phase. The partial molar enthalpy and entropy of mixing are negative. Using Wagner and Schottky's theory of ordered compounds, a degree of disorder of 4 x 10 -4 for NiAl and 1.25 X 10-2 for FeAl has been calculated THE Ni-A1 system has been studied by a great number of investigators, and the results, as far as the phase diagram is concerned, have been compiled by Hansen.1 The phase boundaries from 0 to 50 at. pet Ni are well-established. At higher nickel contents the boundaries are still in dispute and an additional phase, A12Ni3, has been reported.' The phase diagram is dominated by a very stable high-melting compound, NiA1, with a relatively wide range of homogeneity. Heats of formation of solid alloys have been determined calorimetrically by Oelsen and Middel3 from 20 to 95 at. pet Ni and by Kubaschewski4 from 25 to 80 at. pet Ni. According to the most recent compilation5 no other thermodynamic investigations have been reported for the Ni-A1 system. Due to the corrosive nature and the low vapor pressure of aluminum, a method has been employed for determining activities of aluminum which was previously developed for the Fe-A1 system.= Nickel specimens, heated in a closed evacuated alumina system in a temperature gradient, were equilibrated with aluminum vapor from a source within the system kept at constant temperature. After complete equilibration the specimens were analyzed and activities calculated from the known vapor pressure of aluminum. APPARATUS AND EXPERIMENTAL PROCEDURE Materials. The nickel specimens were made from wafers of electrolytic nickel (International Nickel Corp.) of 99.99 pet purity which were rolled to a 0.001-in.-thick foil by Driver-Harris Co. and to a 0.005-in.-thick sheet in our laboratory. The aluminum (Aluminum Corp. of America) had a purity of 99.99+ pct. The alumina tubes and crucibles were made of impervious recrystallized alumina with an alumina content of 99.7 pet (Triangle RR, Mor-ganite Inc.). Experimental Procedure. Annular specimens were punched from the sheet, the punching burrs removed, and the specimens degreased in carbon tetrachloride and acetone and weighed on a micro-balance to within an accuracy of ±0.01 mg. The specimens were positioned with alumina spacers along an alumina tube, and the positions measured. Aluminum metal was machined into cylindrical shape, and placed into an alumina crucible. The tube with the specimens was then inserted into a hole drilled into the aluminum metal. An alumina tube with its closed end at the top was slipped over the specimens so that its lower end fitted snugly into the alumina crucible. The assembled reaction tube was inserted into a mullite tube with a water-cooled brass head which had an opening for a quartz thermocouple protection tube and a metal-to-glass connection to a conventional vacuum system. A Pt-Pt 10 pet Rh thermocouple could be raised and lowered in the quartz tube which was placed along the outside of the alumina reaction tube. The mullite tube was heated by two separately controlled resistance-tube furnaces so that in the experimental temperature range an over-all temperature gradient of approximately 150o to 250°C could be imposed on the reaction tube. The position of the mullite tube was adjusted so that the surface of the aluminum metal was always at the temperature minimum. The reaction tube was thoroughly evacuated before and during slowly heating the assembly up to the melting point of aluminum. A pressure of less than 2 µ (Hg) was maintained during an experiment. Once the aluminum had melted, it isolated the contents of the alumina tube from the surroundings. Several times during an experiment the temperature gradient was carefully measured. An experiment lasted from 3 to 6 weeks and it was terminated by air cooling the evacuated mullite tube. For further details of the experimental procedure the paper on the Fe-A1 system6 should be consulted.

Jan 1, 1964

By G. L. Oldright, Henry de Rycker, S. F. Ravitz

The upper limit of richness of concentrates that can be smelted by means of the blast furnace without added diluents is fixed by the operation of sintering. A sinter feed with normal gangue constituents, containing more than about 50 per cent of lead, tends to fuse; as a result, air does not come sufficiently into contact with the sulphides at roasting temperatures, and sulphur elimination is poor. Since most lead concentrates now contain 55 to 80 per cent lead, it is necessary to add diluents to lower the grade of such sinter feed to about 50 per cent or less. This not only entails the expense of providing barren diluents when adequate diluents containing precious metals are not available but also appreciably lowers the capacity of the blast furnace to produce lead and increases slag losses. Attempts to desulphurize rich lead concentrates by methods other than sintering have not proved successful. Flash roasting, for example, converts much of the lead sulphide to lead sulphate rather than to oxide. However, this suggested the possibility that deliberate flash roasting of the concentrates to sulphate, followed by sinter roasting of the resulting product, might prove promising, particularly inasmuch as the elimination of sulphur from lead sulphate requires heat alone and not contact with atmospheric oxygen. The sintering of lead sulphate products has additional interest because important amounts of such products are now treated by lead smelters. Considerable quantities of lead sulphate are present in rich lead flue dusts and other by-products; lead-chamber sulphuric acid plants and other

Jan 1, 1944

By M. A. Cristovici

The possibility of using surfactants as wetting agents for the suppression of sulphide ore dust has been investigated. Numerous surfactants were examined to determine their characteristics and to investigate their ability to improve the wetting of the sulphide ore dust. However, the surfactants selected as suitable dust suppressors proved to have a negative effect on the flotation of the ore contaminated with such reagents. A method was developed to eliminate the detrimental influence of dust-suppressing surfactants. It consisted of surfactants adsorption on activated carbon and separation of loaded carbon prior to flotation. The technique is simple and requires minimal changes in the plant flowsheet.

Jan 1, 1990

Jan 1, 1961

By R. R. Wells

This report summarizes the results of laboratory investigations by the Alaska Mining Experiment Station, Juneau, to determine the practicability of treating cinnabar-stibnite ore by bulk flotation and controlled-atmosphere roasting of the concentrate. Ore from the Red Devil mine near Sleetmute, Alaska, was selected for testing; it is typical of ores widely distributed throughout the Kuskokwim River Basin. The material, consisting of stibnite and cinnabar in ankerite, dolomite, and quartz, assayed 1.55 percent Hg and 2.87 percent Sb. Continuous treatment of the ore in a laboratory flotation circuit recovered 95.7 percent of the mercury and 82.6 percent of the antimony in a concentrate that assayed 20.4 percent Hg and 34.6 percent Sb.

Jan 1, 1958

By G. I. Mathieu

"An experimental study was carried out to evaluate the performance of column flotation versus conventional flotation for the recovery of molybdenite from a Newfoundland ore. The objective was to verify the claims made by the inventors of the flotation column, Messrs. Pierre Boutin and Remi Tremblay, that their apparatus reduces the entrainment of fine gangue and other mineral impurities in the froth product. The research included a factorially designed series of tests to determine satisfactory operating conditions of the column. These provided a basis for comparative flotation tests with column and Denver cells. In the course of the work, the action of a few depressants was studied. Results indicated greater selectivity in the column and reduced reagent consumption."

Jan 1, 1972

By Robert C. Dyni

The Bureau of Mines in cooperation with the Solution Mining Research Institute conducted surface and subsurface investigations over five solution-mined salt cavities in the Hutchinson, KS, area. The purpose of these investigations was to determine the mechanisms that lead to the formation of sinkholes above collapsed solution cavities. Of the five salt-solution cavities investigated, four had collapsed and produced sinkholes prior to the time of the investigations; the fifth cavity was considered stable. Exploratory drilling and coring operations were conducted at all five sites; surface stability monitoring was conducted at three of them. The results of these studies indicate that excessive dissolution at the salt-shale contact of each collapsed cavity produced large, unsupported roof spans that ultimately exceeded the structural integrity of the overburden. The stable cavity was not exposed to excessive dissolution at the salt-shale contact; this limited the roof span and ensured a stable cavity. The data also show that surface settlement in the vicinity of the two surface-monitored sinkholes continued for approximately 7 years after the sinkholes formed, indicating that the rubble piles of the collapsed cavities were undergoing gradual consolidation.

Jan 1, 1986

By M. Guo

Coal-based Direct Reduction in Interior-combustion Shaft Kiln (CDR/ISK) is a brand-new technique. Compared with the traditional Coal-based Direct Reduction (CDR) technique, its main character is to use Interior-combustion Shaft Kiln (ISK) as the reactor of direct reduction. After being crushed and grinded, iron ore is made into green pellet, which will be surface-coated by coal fines. Then, the surface-coated green pellet can be directly reduced in ISK. The pellet should not be too dry and should be charged from the top of ISK. Oxygen-contained air should be blasted into ISK to keep the temperature in it higher than 1000 degrees centigrade, at which iron oxide will start direct reduction. The reduced pellet will be discharged from the bottom of ISK and after de-surface-coated, spherical Direct Reduced Iron (DRI) can be gained. The volume of carbon monoxide in the off-gas discharged from ISK is less than one per cent. By using this technique to get one tonne DRI, the consumption of coal is about 300kg of fixed carbon, which is much lower than the energy consumption by using other CDR techniques. There is a lot of complex refractory iron ore in China, which remains unexploited. The iron-bearing minerals in this kind of the iron ore can not be beneficiated economically by present technique of gravity, magnetic, flotation or magnetic roasting because the iron minerals are too very finely disseminated to be liberated, or, the iron minerals are too similar to gangue to be separated each other. By using CDR/ISK, complex refractory iron ore can be directly reduced in lower temperature and all kinds of iron mineral can be turned into iron metal. As the grains of iron metal growing larger during direct reduction, magnetic separation can be used to separate iron metal from gangue mineral, thus high-grade iron metal fines can be gained. According to the experiments, the grade of iron metal fines is above 90 percent and the recovery of iron is higher than 90 percent. The consumption of coal to process one tonne of complex refractory iron ore is only about 90kg of fixed carbon.

Jan 1, 2014

By A. C. Fieldner

THE COMMITTEE on Correlation of Research held two meetings in 1931. The first was a luncheon meeting on Feb. 19, at the Engineers Club, New York, attended by eight members and four guests-William H. Bassett, past-president of the Institute; Robert E. Tally, president; H. Foster Bain, secretary; and Alfred D. Flinn, director of the Engineering Foundation. Mr. Bassett gave a short resume of the circumstances leading to the formation of the Committee and expressed his opinion that the objectives as expressed by the Committee in its first annual report were in accordance with the ideas of the Institute officials. Mr. Tally stressed the great importance of research in the mining and metallurgical industries and stated that lie believed the Institute should encourage and promote research, and that this Committee could do a great deal to foster such work in the Institute. Mr. Bain pointed out that this Committee was appointed with a view to correlating and fostering research work. in the field of the Institute's activities. This could be done in various ways, as by encouraging the divisions and committees of the Institute to hold group meetings on research, by forming research subcommittees in the Institute divisions, and by bringing together research interest in. certain projects and the fund or organization that is equipped to carry out the project.

Jan 1, 1932

By Aarne Visnapuu

Dissociation and vaporization of gold chlorides and bromides were investigated by a static pressure method and by Knudsen cell mass spectrometer. Two distinct chlorine and three distinct bromine pressure-temperature relation-ships were observed for the respective salts. The chlorine pressures are attributed to the dissociation of Au2Cl6 and Au2C12, and the bromine pressures to the dissociation of Au2Br6, Au2Br4, and AU2Br2, These pressure-temperature relationships were used to calculate dissociation pressure equations, enthalpies, and entropies of dissociation for each salt. Mass analysis of the vapors over AU2Cls between 83° and 152° C confirmed the existence of gaseous AU2C16. Ionization potential of this molecule is 11.0±0.1 ev and enthalpy of vaporization is 28.l±2.0 kcal/mole. Mass analysis of the vapors over the gold bromides detected only Bra in the temperature range 15°-150° C.

Jan 1, 1971

The value of Australia's education services exports increased to over $15 billion dollars in 2009, placing education as the third overall export earner behind coal and iron ore; however there are concerns over the impact of emerging policies on the future of both the industry and the provision of mining education. Policies have impacts on the growing number of international rankings (or league tables) of mining jurisdictions and universities. A high position in such rankings might be used as a measure of perceived quality with benefit to those at the top and to the detriment to those lower down.    Top performing companies in the relatively new domain of sustainability have been shown to achieve better financial performance than their industry competitors, assisting them in attracting top quality committed staff, hence positioning themselves well for the future. The world's mining companies, jurisdictions and universities are now ranked with results in the public domain. It is argued as to the validity of the data or perceptions used in such rankings, but there is no doubt they are influential in determining the flow of dollars around the globe. By investing your pension fund assets in the shares of the top performing companies, by placing your exploration dollars in a country at the top of such a list of attractive jurisdictions, attending or recruiting from a University at the top of the rankings - risk must surely be reduced?   While savings and risk reduction can undoubtedly result from the introduction of new technologies developed through appropriate R&D (the other core activity of a university), the maintenance of a very high level of exploration and production performance through dedicated highly skilled staff every hour of every day quietly improves financial performance, while avoiding safety, environmental and/or community incidents (ie protects the 'triple bottom line'). As always risk reduction comes down to enabling quality people to do a quality job - through the actions of such people we can sustain the global mining industry and secure our social license to operate. However, there is global concern over where the numbers of such people, including those with the recently required skills in sustainability, are going to come from.   This presentation will discuss some of the complexity and interactions involved in the development of such rankings, the dangers inherent in their simple acceptance and use, plus indicate some of the directions mining educators might take to sustain and increase the supply of quality graduates to the global mining industry. This is an ABSTRACT ONLY. No paper was prepared for this presentation.

Jun 1, 2010

By B. Berhe, R. D. Lawrence, J. Hinzer

"The fortunes of mining companies and their implied value are tied to cycles - both economic and commodity – within which they operate. Hence the determination of appropriate future metal prices is one of the most critical factors faced by mineral valuators especially for advanced projects. Price, and hence revenue, is usually the most sensitive input to the valuation model. Empirical studies of past forecasts show that the success rate for commodity price forecasting is very poor. This paper explores various approaches and comments on their strengths and weaknesses. We conclude that careful evaluation of long-term metal prices is a key element and is hardly a luxury that can be left to simple averages or rules of thumb. INTRODUCTION Discounted Cash Flow (""DCF"") analysis, is well suited for the valuation of advanced mineral development assets, for which there are identified mineral resources and some form of economic assessment (Pre-Feasibility or Feasibility Study). The DCF method is also the most commonly used method for determining value for such assets. It provides a means of relating the magnitude of expected future cash flows from profits (or losses) to the magnitude of the initial cash flow (investment) needed for capital expenditures to purchase or to develop an asset for commercial production. The method proves useful in making investment decisions as it allows for the quantification of the Net Present Value (“NPV”), as well as the Internal Rate of Return (IRR) and Payback Period on initial investment capital. Valuation by its very nature is a forward-looking exercise. The DCF method attempts to estimate the NPV of expected future cash flows, by selecting factors that will likely affect future cash flow based on informed analysis. One of the most critical and sensitive factors is the determination of appropriate future commodity prices. “The variables that have the greatest impact on a DCF evaluation are the reserves, the metal prices, and the discount rate.”1 The determination of future commodity prices for valuation purpose or during M&A negotiations is a hotly contested issue. There are a number of analysts, institutions and specialized commercial data suppliers that provide both short and long-term commodities price forecasts. Also, the use of an aggregated mean for all available forecasts, or consensus forecasted prices for valuation purposes is not uncommon. The methods used in making forecasts for each forecaster may vary and in many cases may not be publically disclosed. Nonetheless, the aggregated mean of all forecasted commodity prices of reputed institutions is usually taken to “represent the market’s view of likely future commodity prices.”"

Jan 1, 2016