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The ""comparable sales"" method of valuation attributes value to an asset by reference to actual sales of comparable assets or to the market capitalisation of companies with comparable assets. This methodology is widely used in real estate valuations. The real estate approach can be used to value mining and exploration properties where there are actual sales of comparable or similar assets in the recent past. The practical limitations of the comparable sales method are well known and self evident: limited number of transactions, limitations on comparability and inadequate data. The real value of the comparable sales method is in its use as a validity check. Estimates of value of mining and exploration assets are so sensitive to so many variables that all valuation methods have limitations. Accordingly there is real value in attempting to establish benchmarks from comparable sales. Apparently sophisticated valuation methods can mislead by creating the impression that valuation is a precise science. The judgement of the valuer is critical and judgements can be wrong. Any available evidence from actual sales that are even remotely comparable can provide useful input to the valuation process.

Jan 1, 1994

By K. F. Unrug

Martin County Coal Corp. is located in Martin County, KY, in the Appalachian coal fields, near the West Virginia border. The company's total leasehold covers more then 133.5 km' (33,000 acres). Total annual production at Martin County Coal Corp. is currently 2.2 Mt (2.5 million st). In certain years, though, it exceeded 2.7 Mt (3 million st). About 45% of the annual production comes from two surface mines. The balance is produced from five underground mines. Martin County Coal's work schedule consists of two nine-hour shifts a day, 240 days a year. Topography The topography of the area is characterized by rugged hills and ridges and sharp V-shaped valleys demonstrating a cliff and slope topography. This topography consists of alternating benches of outcrop sandstone and slopes. The deep valleys have been carved out by many small streams in the area. These streams are contained within the steep slopes of narrow, twisted mountain ridges. The ridges are underlain by massive sandstones that, being resistant to erosion, create sharp, rocky morphology. The height of the hills above the valley floors ranges from 122 to 244 m (400 to 800 ft).

Jan 1, 1991

By Charles E. Hall

The Crimora mine, operated by the American Manganese Company, Limited, is located 21/2 miles east of Crimora station, 011 the Shenandoah Valley railroad, in Augusta county, Virginia. It is situated in a basin at the western base of the range of mountains which flanks the Shenandoah Valley on the east. This range is composed of the Potsdam sandstone (No. I. of the Pennsylvania survey), and extends in a northeasterly-southwesterly direction the entire length of the valley. The general dip of the measures is westward. The massive sandstone of the mountain is geologically overlaid with shales or slates, which belong to the Potsdam, or lie between it and the Lower Silurian limestone. Throughout this region these shales are decomposed, and form more or less extensive clay deposits, which are found along the base of the range and often underlie a considerable area to the westward of the abrupt slope of the range. Sand and fragments of quartzite occur in considerable quantities on the surface, and often conceal the true character of the underlying formation. The area containing this ore-deposit extends northeast and south-

Jan 1, 1892

The classic description of Project Finance as "the reliance by lenders on the cashflow of a project, supported by the assets of the project with no recourse to the project sponsor's corporate balance sheet" has, like most other terms in the finance industry, evolved through recent usage. The area now under most scrutiny is the sharing of risks between parties either most able to take them or prepared to accept payment for them. Creativity in, and flexibility of financing structures have enabled project lending to continue under a dramatically different economic outlook. The diminishing competitiveness of the Australian producers in a global market place of uncertain commodity prices has discouraged the advancement of many large scale resource projects. The majority of new project financings has been designed to assist the relatively small company promote and develop its first projects. New trends- are emerging in four areas: sources of capital; borrowing structure; financing instruments (securitisation); and risk underpinning. As project financing becomes more widely used, the range of interested financiers grows. New initiatives contribute to its development and evolution with a view to increase effectiveness to the sponsor of any new venture.

Jan 1, 1987

Liebherr Mining Equipment Co., of Newport News, VA and Baxter Springs, KS, introduced the T282, a new two-axle, diesel-electric, AC drive haul truck with a payload capacity of 327-t (360-st). The T282 was unveiled at a press briefing in October 1998 at the company's Baxter Springs research and development1 manufacturing facility. In addition to an increase in pay- load capacity, the truck's AC drive system has been de- signed to allow for easy configuration to a trolley-assist system with minimal additional equipment. The T282 provides fuel savings, reduced maintenance requirements, and reduced downtime and maintenance costs, providing the mine operator with increases in productivity. Basic dimensions and weight of the T282 are: ? Overall length, 14.5 m (47.5 ft). ? Overall width, 8.7 m (28.7 ft). ? Loading height, 6.5 m (21.2 ft). ? Height - body up, 13.9 m (45.9 ft). ? Empty vehicle weight, 201 t (221 st). ? Operating weight - loaded, 528.6 t (582.6 st). ?Engine, Detroit Diesel 16V4000 at 2 MW (2,750 hp). ?Electric drive system, Siemens/Liebherr.

Jan 1, 1999

By C. J. Kirkland

HISTORICAL BACKGROUND For two thousand years and more, we insular Britons have been grateful for the existence of the narrow strip of water which seperates us from mainland Europe. It has given us a sense of security against invaders, though it has been breached many times. The first recorded serious consideration of a fixed crossing of the English Channel was in around 1802, when it was suggested to Napoleon I. The motive was not entirely peacable and the British Navy, who saw themselves as defenders of our shores, were decidedly unenthusiastic. A whole series of imaginative schemes were proposed in the course of the nineteenth century, embracing viaducts, immersed tubes, artificial islands as resting places for the horses which were to draw carriages, as well as mechanically bored tunnels. The first Channel Tunnel Company was formed in 1872, and an application for permission to construct a tunnel was made to the British Parliament. A Colonel Beaumont, of the Corps of Royal Engineers designed and constructed a machine which, in around 1882, bored over a mile of tunnel out to sea from Britain which exists to this day.

Jan 1, 1987

By M. J. Sanzotti, C. J. Bise

This paper examines the potential for controlling longwall-induced subsidence by pneumatically backstowing waste rock into the void created by mining. The paper also examines scheduling the process as a unit operation of the mining activity. Based on a review of background literature and interviews with representatives of various mining companies, public-interest groups and state and federal regulatory agencies, a hypothetical case-study evaluation of pneumatic stowing at a southwestern Pennsylvania mine was conducted. The study indicated that current stowing technology cannot keep pace with the production potential of longwall systems in the United States. Further, at the mine used in this case study, concomitant stowing would reduce subsidence by only 50% of what would normally be incurred during full longwall caving, and the longwall coal-production rate would decrease from 3,630 t (4,000 st) per shift in the nonstowing case to 1,360 t (1,500 st) in the stowing case. A preliminary cost analysis reveals that pneumatic stowing would add from $5.79 to $11.57 per t ($5.25 to $10.50 per st) to the operating cost of producing coal at the case-study site.

Jan 1, 1997

By William C. Boggis

EKATI? Diamond mine is located 300km northwest of Yellowknife and 200 km south of the Arctic Circle in the Northwest Territories of Canada. The site is a remote tundra area with continuous permafrost and is in the Canadian Shield. EKATI? is the first diamond mine in Canada and is operated by BHP Diamonds Inc., which is a part of BHP Minerals. BHP Diamonds Inc. is an incorporated company based in Vancouver, BC. The mine is a joint venture of BHP Diamonds Inc. (51%), Dia Met Minerals Ltd. (29%), Charles E. Fipke (10%) and Dr. Stewart L. Blusson (10%). The mining area lies within the 10,960 ha land leases held by the joint venture. The total claim block covers 344,000 ha. To date over 136 kimberlite structures have been identified within the claim. Five of these provide the basis for the present mine plan with three others identified for future inclusion. At full capacity the mine will produce 4.5 million carats per year, approximately 4 % of world production and employ approximately 600 people, with over 33% being Aboriginal from the Northwest Territories.

May 1, 2001

By Davies L, Jeffreys J

The Broken Hill Proprietary Company Limited (BHP) has been successfully using mini computers in its open cut strip and pit coal planning for the past six years. A recent development within the computerised Seam deposit User oriented Mine Planning System (SUMPS) provides the facility for the generation, evaluation, and simulation of colliery workings.Existing computer programs for collieries were studied, but none met the requirements of BHP's underground mine planners.Consequently, it was decided to develop programs, based on those existing within BHP for open cut strip and open cut pit mine planning. The new planning facility was designed to enable any number of proposed colliery developments and operating plans to be evaluated against optimistic, most likely and pessimistic geological lease area interpretations.In mine planning, sensitivity studies should be conducted to determine the likely effects on production, development costs and colliery economics of changes in mine design and budgeted equipment productivity. By automating the manual calculations involved, the computer programs provide the ability to conduct numerous and extensive sensitivity studies. Hence an optimum mine design for budgeting purposes can be derived quickly with an improved degree of confidence in the long term viability of the proposed development.

Jan 1, 1982

By H. C. Howarth

THIS paper gives observations on ground movement and subsidence resulting from pillar drawing in the Lick Run section of Montour No. 10 mine of the Pittsburgh Coal Co. adjacent to solid coal owned by the U. S. Bureau of Mines at its Experimental mine in Snowden Township, Allegheny County, Pennsylvania. The investigation was planned by George S. Rice, chief mining engineer of the Bureau, who arranged the necessary cooperation with Dr. L. E. Young, vice president of the Pittsburgh Coal Co. Engineers of that company placed permanent monuments on the surface to establish the boundaries of the coal owned by the Bureau and to furnish fixed points to which all levels were referred. Engineers of the Experimental mine staff then covered the ground under observation with a checkerwork of monuments made of oak pegs set into the ground at 50-ft. intervals in two directions at right angles to each other. The level of these pegs was determined first from Dec. 16 to 30, 1929; again from May 25 to June 5, 1930, and finally from July 7 to 15, 1931. Observations were then discontinued because work had been stopped temporarily in this part on Montour 10 mine.

Jan 1, 1933

By Wallace W. Wilson

It scarcely is possible to read a new issue of any of the principal mining trade journals without noting some mention of a major new overseas mining venture with which one or more domestic companies are involved. These projects follow a fairly consistent pattern; most are large open pit mines with relatively low grade orebodies but huge reserves; the total price tag is in nine significant figures and half or more of the total cost is for infrastructure. West' notes that nearly $7 billion is being invested annually for new mining projects and the expansion of existing mining ventures in the free world. He anticipates that by 1975 such investments will reach the $10-11 billion annual figure and that in the period 1972-76 total capital requirements can be expected to aggregate around $45 billion. West estimates that 75% of the total capital will come from internally generated funds. Conceivably, a substantially higher percentage could be attributable to external financing, especially if the trend of recent mineral development in Canada and Australia is any criterion, and including local sales of equity as a part of the package.

Jan 7, 1973

By W. J. Loring

It is proposed to describe in this paper as accurately as possible the present practice at the Utica mills, of which I am superintendent. The Utica Company operates three mills, the Madison (40 stamps), the Utica (60 stamps), and the Stickle (60 stamps). My description will be based on the last-named, in which I have experimented more than in either of the other two; but the practice is the same, under the same management, in all three. Everything is run by water-power, under about 420 feet fall at the Utica mill, and 425 feet at the Stickle mill, giving a pressure of about 185 pounds to the square inch. The Madison mill is situated about three-quarters of a mile below the Utica and Stickle mills, and has only some 100 feet fall from one place, and 38 feet fall from the other. The water that runs the Utica and Stickle mills, and all machinery connected with the corresponding mines, is conveyed through ditch and pipe to the Madison mine and mill, where it develops power for the air-compressor and the 40-stamp mill. The mill is run by a

Jan 1, 1899

By B Lindqui, M V. Knyazev, L S. Tsemekhman

Gipronickel Institute JS that is a Research and Development Centre affiliated to the worldclass Norilsk Nickel Mining and Metallurgical Company, and Outokumpu Technologies AB (Boliden Contech AB) have jointly developed the reconstruction project of Pechenganickel metallurgical operations using a two-zone Vanyukov furnace. The international expert group appointed by the Nordic Investment Bank has examined the project. The project financing should be partly executed by the Norway government. Current annual rate of sulfur dioxide emissions is 100 000 t. The aim of the project is to reduce it to 12 000 tpy. Pechenganickel Combine is owned by MMC Norilsk Nickel. Currently it produces nickel high-grade matte from sulfide copper-nickel concentrate with up to ten per cent MgO content. The existing production is in accordance with the following flow sheet: agglomeration û electric furnace smelting with matte production û converting in horizontal converters. Annual production capacity is about 36 000 t of nickel in high-grade matte. Converter gases report to sulfuric acid production. The principal results of studies on high magnesia materials smelting in two-zone Vanyukov furnace, engineering solutions, and technical and economical parameters are offered.

Jan 1, 2004

By J. McD. Porter

In many of the old placer-mining districts are still to be found large tracts of gold-bearing gravel not suitable to be worked with a dredge, because the bed is too shallow or the gulch too narrow. Frequently there is not enough grade to handle the gravel successfully by ground-sluicing or a bedrock flume, or it contains too many boulders to be worked succeeefully with the ordinary hydraulic pipe or tube elevator. In southwestern Oregon, two practical placer-miners named Ruble, after working for years trying to make money out of placer-ground coutaining many large boulders, invented and patented a hydraulic elevator of an entirely new type, and one that has been found to work very successfully in flat ground and in gravel containing many large boulders. It is a very simple contrivance. A few years ago I acquired the property near Pierce City, Idaho, known as the American placer-mine. Various attempts had been made to work this ground. A bed-rock flume had been installed by one company, an Evans elevator by another, and still other methods were tried on a smaller scale. All were

Jan 1, 1910

By I. Kapageridis

The mining industry worldwide has recognized in the past the need to apply specific rules and guidelines in the reporting of mineral resources and reserves. The high financial investment and risk associated with any mining project and the ever stricter environmental and social controls were the forces behind this recognition. For years the industry experienced the development and enforcement of several codes for reporting accepted by different countries. The implementation of any code can be a confusing task as the guidelines are sometimes general and open to different interpretation. The use of computers in the estimation and reporting of mineral resources and reserves is necessary, particularly when trying to implement particular code guidelines. This paper discusses ways to implement a reporting code in a computerised resource/re-serve estimation study. The implementation is demonstrated using a gold deposit project as an example. The effects of mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors are taken into consideration. This paper also discusses well established reporting codes and the possibility of reaching a single, universally applied code that could be used by Greek mining companies.

Jan 1, 2007

By Nelson Severinghaus

Consolidated Quarries Corp. must conduct operations for an average sales price of $1.25 per ton, about the same price at which stone was sold 25 years ago when the dollar was worth twice what it is now. To maintain success in a competitive business, the company must solve the usual production problems, which will be discussed here in the order they occur in the flowsheet. Most crushed stone quarries must first remove soil and decomposed rock. Although seasons of lower sales sometimes release regular quarry excavating and haulage equipment for this purpose, overburden is often too extensive for this method to be used. In such cases, special equipment must be assigned or the job may be contracted. As many earthmoving contractors have heavy duty specialized equipment well suited to overburden removal, they should be seriously considered before the job is undertaken. Pockets of clay beneath peaks of hard stone sometimes defy mechanized removal. Pick and shovel laborers at this point might be supplanted by more ingenious use of pumps and water or some other mechanical means. Where overburden is extremely heavy or difficult to remove, underground mining must be considered.

Mar 1, 1956

By Gealy W. Wallwork

The administrative processes of coal mines are becoming increasingly complex. As society evolves into a more complicated structure with greater emphasis on individuality, government regulations reach deeply into every activity in an effort to force individuals into a standardized mold. These contradictory pressures add an extra burden to the administration of a mining operation. Recent years have brought a substantial change in the skills needed by mine supervisors and managers. As a result, a better understanding of the administrative functions is necessary. The mine superintendent has the overall responsibility for the mine; for effective operation he must be sufficiently knowledgeable to oversee all the complex functions that make up the mine. This chapter does not cover all the administrative requirements because of the variation in mine operation and in company policies and organizational structure. It does attempt to identify the administrative functions that would be required at a large mine with a preparation plant. It is assumed that the mine operation is decentralized with very little duplication of functions at the organizational levels above the mine. Thus each function is assumed to be relatively complete at the mine and under the general supervision of the mine superintendent.

Jan 1, 1981

By Cleciano Berlando Miranda de Oliveira

A Engenharia de manutenção em equipamentos siderúrgicos da CSN vem desenvolvendo habilidade e aplicando com ótimos resultados os recursos computacionais avançados com modelagem 3D e simulação numérica através de métodos de elementos finitos. Estes recursos estão se tornado um diferencial na dinâmica dos trabalhos de manutenção com foco em análises de falhas crônicas e respostas rápidas para a solução dos problemas. Caracterizando e estratificando as falhas é possível desenvolver melhorias e defendê-las com maior assertividade e credibilidade. O recurso computacional já está no mercado há tempos e a CSN está na vanguarda na formação de sua equipe própria com um nível avançado e grande potencial para otimização de resultados da engenharia de manutenção de equipamentos (GEM) da CSN-UPV. A missão principal é agregar valor aos ativos, com agilidade e confiabilidade na caracterização de oportunidades de melhorias dos projetos ou restabelecimento funcional. Trilhando um caminho contínuo no que tange a qualidade e assertividade nas soluções de problemas de equipamentos mecânicos, serão apresentados alguns casos de sucesso que estão em desenvolvimento e um projeto de melhoria nos rolos de entrada de um laminador de encruamento, localizado na saída da linha de recozimento contínuo para chapas número um (LRCC#1). Estes rolos apresentavam fraturas com frequências mensais gerando paradas de mais de 8 horas e, após os estudos e implantação do projeto em 2012, não houve mais registros de paradas por falhas nos rolos. O projeto foi padronizado e multiplicado para os demais rolos da LRCC#1 e outras linhas com projetos semelhantes.

Aug 17, 2017

By Richard E. Beane

For several decades, the minerals industry has used leaching techniques to extract metals from rocks whose grade was too low to be treated profitably using conventional metallurgical techniques, and, as of 1972, about 15% of domestic copper production was derived using leaching methods (Beall 1). Increasing interest is currently being directed toward solution mining, particularly with respect to copper, for basically two reasons. In the first place, geological exploration has outlined several copper deposits of large tonnage and 1m', grade which are buried at sufficient depth to preclude open-pit mining which would make such mineral deposits ore deposits. Nevertheless, these occurrences provide significant potential if they could be treated by chemical leaching in situ. Secondly, the porphyry deposits of the western united States, which provide by far the largest percentage of domestic copper, do not terminate geometrically with sharp borders. These large disseminated bodies commonly decrease in grade laterally away from volumes of rock containing ore grade metallization, and the distinction between ore and waste is strictly economic. In order to extract ore grade material from the ground, a significant amount of rock containing sub-ore-grade copper must also be removed which, when placed on dumps, is amenable to solution mining. These two considerations clearly indicate the reasons for the growing interest in solution , leaching techniques--namely the ability to exploit deeply buried low grade deposits and the expansion of reserves in deposits currently under production.

Jan 1, 1977

By Juliano Villanueva

La concentradora Antapaccay comenzó sus operaciones en noviembre del 2012. Como parte del proceso de puesta en marcha, se desarrolló la subetapa de este comisionamiento de los IsaMills, fundamentales en el circuito de remolienda. El circuito de remolienda consiste en dos IsaMills, uno para el concentrado rougher y otro para el concentrado scavenger. En ese sentido, el presente texto describe las ventajas encontradas en este equipo como el nivel de carga de medio de molienda, que es reflejado en el consumo de energía.

Oct 1, 2014