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By E. V. Lilford

Valuators of mineral properties are faced with a range of valuation methodologies, the most important of which are grouped under the headings of the market approach, the cost approach and the income approach. The way in which value is defined and the detail of the different valuation methodologies is examined here. This paper aims at documenting the variety of valuation procedures and applying each method to a variety of gold projects and comparing the outcomes. Any decision to apply a valuation technique will depend principally on the stage to which the project has been developed. The valuation approach to a greenfield project will be substantially different from that applied to a well-drilled, extensively explored mineral property. Furthermore, a valuation exercise may produce different outcomes for the same gold project depending on which method is applied. In order to investigate the variability in valuation methods and to explore the outcomes of different approaches, a series of five gold projects was analysed. The projects differ in regard to levels of capital application, infrastructural setting, depth below surface, in situ grade, and the stage of development, and were valued using the different methods. The most critical aspect of any valuation is the capacity of the valuer to identify the salient issues and ensure that they are incorporated into the valuation. The danger of simply applying ?black box? solutions to valuation problems without a full understanding of the parameters and the areas of uncertainty is emphasized. The importance of the valuator?s experience, insights into best practice and the ability to recognize and submit to the requirements of compliance within the minerals industry is among the most important characteristics of a valuer.

Jan 1, 2005

By R. A. V. Raff

Although falls of roof, face and rib (or side) of coal mines were the third ranking cause of disabling accidents in 1966, the accidents from these falls resulted in the most serious injuries and accounted for approximately 50 percent of the total fatalities (I). Further breakdown of these statistics shows that 88 percent of the fatal accidents occurred within 100 feet of the working face and that 96 percent of the deaths were in bituminous mines, with only four percent taking place in anthracite workings. These figures demonstrated the need for improved reinforcement procedures in operational coal mines, and they provided ample justification for research in the area of accident prevention. The purpose of this project was to investigate the use of polymers and of related techniques to achieve rock bonding and reinforcement of coal mine structures, in order to obtain better or permanent ground support (e.g., drifts, entrees, coal and ore passes, galleries, tunnels and shafts) by the fill ing of fissures in the rock, thereby preventing or delaying the onset of serious rock degradation processes.

Jan 1, 1973

By K. J. G Hedges

"Once a health based guidance limits for exposure to diesel exhaust have been established, and as part of a multi-disciplinary team, the program for exposure reduction should incorporate the plan-do-check-adjust cycle. Setting a suitably protective (health based) occupational exposure limit (OEL) for diesel particulate matter (DPM) and nitrogen dioxide is a key driver to reduce exposure. It is important to go beyond regulations and reduce exposure to diesel exhaust, DPM, as low as reasonably achievable (ALARA) such as that prescribed under the Australia, Queensland Mining and Quarrying Safety and Health Regulation 2017 where under section 135 Limiting workers exposure, the workers exposure must not exceed the exposure limit applying to the worker for the hazard; and is ALARA. It appears that previously acceptable OELs are no longer safe. Therefore it is important that the internal responsibility system be implemented and the precautionary principle approach be followed, especially as it may be some time before a suitably protective OEL specifically for DPM is in place. One leading multi-national mining company BHP Billiton has acknowledged a significant lag that exists between regulatory action and the level of science that informs health risk. This company is managing exposure to diesel exhaust to as low as technically feasible. This same company that has set an interim target for managing diesel exhaust to 0.03 mg/m3 is achieving these levels which paves the way for other mining companies and general industry including construction. The Occupational Cancer Research Centre 2017 recommends reducing personal exposure to within 0.02 mg/m3 (EC) for underground mining and 0.005 mg/m3 for other workplaces. Controlling DPM is important to prevent cancer however it is also important that that nitrogen dioxide (NO2) be reduced (ALARA) and that careful selection of control technology be considered such as the proper selection of a diesel oxidation catalyst so that the level of NO2 does not in fact increase. The example from BHP Billiton provides a leading practice including using a multi-disciplinary approach and the importance of controlling emission at source and having an auditable diesel emissions based monitoring program in place."

Jan 1, 2019

By R. R. Wells, G. M. Potter, R. Havens, W. W. Agey

"INTRODUCTION As part of the program of investigating possible domestic sources of manganese, ore-dressing studies were conducted at Salt Lake City, Utah, on five samples of manganese oxide ore obtained by mining engineers of the Bureau of Mines from the Havasu Lake District, California and Arizona.Two lots of radically different ores were procured from the Arizona Manganese claims 30 miles above Parker Dam, Mohave County, Ariz. One of the original 11 claims has been flooded by Havasu Lake, formed by Parker Dam. The claims are owned by R. H. Thompson, Parker Lumber Co., Parker, Ariz. The 2-ton lot of high-grade ""TA"" ore represented ore occurring as pyrolusite and psilomelane accompanied by a black calcite gangue in lenses along a series of fault planes in granite. A half-ton lot of low-grade ""TB"" ore was taken from a large lense of reddish iron-bearing material outcropping on another section of the property.A 2-ton lot of ore was taken from the Jones property, 8-1/2 miles southwest of Powell, Mohave County, Ariz. At the time of the investigation, the property was leased by J. H. Jones, of Oatman, Arix., from the owners, the Atchison, Topeka, & Santa Fe Railroad Co. The ore body was described as a re¬placement in a sandstone formation in a region that has been faulted extensively."

Dec 1, 1947

By Gregg Davidson, Lonnie Jacobs, Brett Zernich, Alan Howard, Robert Pintabona

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. If such services are required, the assistance of an appropriate professional should be sought. 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 the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2014

By Richard C. Barth

Fourteen field plots were established at active coal mines in the Northern Great Plains. A wedge was cut into spoil and backfilled with soil; soil depth ranged from 0 to 152 cm over a linear distance of 15 m. Perennial grasses were planted in each plot, and production was measured from 1978 to 1981. Based on spoil traits and biomass response patterns, plots were grouped into four types. Spoil for Type I plots was near neutral, slightly saline, nonsodic, and clay loam in texture. Perennial grasses reached maximum production with approximately 50 cm of soil depth. Spoil for Type II plots was characterized as sodic and fine textured; soil-depth requirements averaged 83 cm for maximum production. Spoil for Type III plots was characterized as strongly acid, and production increased throughout the soil depth range tested. Spoil for Type IV plots was similar to soil in chemical and physical traits; there was no production response to soil depth. Soil depth requirements were also dependent upon precipitation and species. In general, soil-depth requirements decreased in dry years and with use of introduced species. An appendix contains data evaluations on an individual plot basis.

Jan 1, 1982

As opposed to a prescriptive-based design, a performance-based fire-protection system design allows the system planner the flexibility in choosing specific method, materials and design tools to achieve a preset goal. A different approach in fire protection and a powerful addition to existing method, the system has been around for many years, and has gone through numerous improvements. Despite its popularity in the building industry, it has not been introduced to the mining industry yet. As mines get deeper, increases in size and complication, mine fire safety system will also become increasingly challenging, a new and proven system should be able to great potential to eradicate many of the problems that are either unsolvable or cost-prohibitive with the traditional method. With increasing globalization and international exchange with other major mining countries a common language/practice also make the performance-based design method a desirable feature in mine fire safety system. This paper will first define a performance-based system, step-by-step design methods, likely impacts on fire-protection practices and possible challenges in implementing the system in US underground mines.

Jan 1, 2011

By T. Mapeta, S. M. Rupprecht

Discussions on reasonable prospects for eventual economic extraction (RPEEE) include the CRIRSCO 2019 reporting template, JORC 2012, SAMREC 2016, CIM 2019 Guideline, and Regulation SK-1300. These reporting codes all conform to the principles of reasonable prospects for eventual economic extraction. To demonstrate that all mineral resources align with the RPEEE principles, the Competent Person is responsible for endorsing the mineral resource estimate. Moreover, establishing mineral resources and RPEEE requires technical input from numerous technical specialists, such as mining and geotechnical engineers, metallurgical engineers, social and environmental specialists, financial and governmental practitioners, and more. The aim is to improve the transparency of the disclosure of mineral resources and guarantee the investor or potential investor that the reporting of mineral resources is based on reliable technical, economic, environmental, social, and other relevant factors. This paper discusses the important protocols and definitions in some international reporting codes for the purposes of developing a guide memoire that will assist the Competent Person to interpret, establish and apply RPEEE appropriately and easily.

Jun 27, 2025

By Cummings. J. B., R. Haworth

"THE OPERATION of the Potash Company of America, Ltd., at its plant near Saskatoon, Saskatchewan, is the result of many years of exploratory and development work, culminating in the construction of a shaft, milling, concentrating and other facilities necessary to the production of potash in a marketable form.The possibility that potash existed in •commercial quantities in Saskatchewan was first indicated in 1943, although it was not until mid-1946, when Bata Petroleums penetrated a potash bed at its Verbata No. 2 well near Unity that substantial in-ter.est was developed in the possible exploitation of this important mineral product.The Potash Company of America, which is the largest producer of pot-ash in the Carlsbad, New Mexico area, a district that has been sup-plying about 90 per cent of the North American potash demand, be-came interested in the Saskatchewan deposits •at an early stage. Its engineers made an intensive study of the western Saskatchewan area in 1947 and continued their review of operating problems throughout the next three years.""Potash"" is the commonly used general term applied to the minerals of potassium, of which there are several. The most common mineral forms in which it is produced are potassium chloride and potassium sulphate. The potash content of potassium compounds is ordinarily ex-pressed in terms of potassium oxide (K20) equivalent."

Jan 1, 1960

By H. Eccles

BNFL, an internationally acclaimed company noted for its nuclear fuel cycle services and waste management technologies, collaborated with Viridian BioProcessing Ltd, a small company acknowledged for developing environmental biological processes, and an internationally recognised professor of biological sciences, to develop an unique bioremediation process for treating toxic, heavy metal contaminated land. This paper describes the process, with particular reference to the problem and scope of land contamination with toxic, heavy metals and the current available technologies. The process technologies are based on using indigenous, soil micro-organisms which can be stimulated to produce acid or sulphide ions to mobilise or precipitate the heavy metals respectively. Laboratory studies have indicated metal removal efficiencies of greater than 90 % can be achieved, whilst recovery efficiencies from the metal loaded leachate are even higher at approximately 95%.

Jan 1, 1996

By C. Sun

The Leeville underground mine has been in operation since 2006 and currently produces 3,200 tons of ore per day with an average gold grade of 0.4 opt. The mine has a large horizontal extent of 2,500 feet by 500 feet and a vertical extent of 20 to 200 feet. High density of joints occurs within the host rock. Based on Rock Mass Rating and field observation, the Leeville ground conditions are characterized as poor to very poor. As such, heavy ground support is required for the mining operation in Leeville. Ore zones with a height in excess of 10 m (35 feet) are considered for longhole stoping. A typical stope measures 6.0 m (20 feet) wide, 30 to 55 m (100 to 180 feet, depending on the ground conditions) long and 10 to 30 m (35 to 100 feet, depending the thickness of ore body) high, yielding 10,000 to 20,000 tons when completed. Narrow ore zones, less than 10 m (35 feet), are mined using cut and fill. These drifts are 4.6 m (15 feet) wide by 4.6 m (15 feet) high. Based on the afore-mentioned poor ground condition, the establishment of a ground control monitoring system is key to operating both safely and successfully. The ground control monitoring system is composed of comprehensive instrument design and installation. Instruments include Multi-Point Borehole eXtensometers (MPBX) and Stretch Measurement to Assess Reinforcement Tension (SMART) cables. The monitoring system covers the mining zones and infrastructure openings. After about two year?s applications and measurements, useful data has been and continues to be collected to use in future stope and infrastructure structure design. The system provides the information making engineer and operation teams to do their job more confident and efficiency. Keywords: Ground control, Monitoring system, Long hole stope, Instrumentation.

Jan 1, 2009

The 1963 Lignite Symposium was held on the University of North Dakota campus, Grand Forks, N. Dak., April 30-May 1, 1963, under the cosponsorship of the University of North Dakota and the Bureau of Mines. This symposium, the third in a series, had as a general objective the dissemination of information concerning advances in technology and utilization of solid fuels, with emphasis on lignitic coals. Approximately 150 representatives of industry, government, and educational institutions from 21 states and 3 Canadian provinces were present at the symposium. Those attending were welcomed by Marling J. Ankeny, Director of the Bureau of Mines, representing the Bureau, and Dean T. H. Clifford, Vice President of the University, representing the University.

Jan 1, 1964

The 1963 Lignite Symposium was held on the University of North Dakota campus, Grand Forks, N. Dak., April 30-May 1, 1963, under the cosponsorship of the University of North Dakota and the Bureau of Mines. This symposium, the third in a series, had as a general objective the dissemination of information concerning advances in technology and utilization of solid fuels, with emphasis on lignitic coals. Approximately 150 representatives of industry, government, and educational institutions from 21 states and 3 Canadian provinces were present at the symposium. Those attending were welcomed by Marling J. Ankeny, Director of the Bureau of Mines, representing the Bureau, and Dean T. H. Clifford, Vice President of the University, representing the University.

Jan 1, 1964

By William E. Roscoe

"Valuation methods are well established for mineral properties with production or imminent production, and include discounted cash flow and comparable transactions. Valuation methods for non-producing mineral properties, however, are more subjective. Non-producing mineral properties include those at various stages of exploration, properties at the prefeasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. Different valuation methods may be appropriate for different types of mineral properties.Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage. The market approach is generally appropriate to all types of mineral properties, although it is difficult to find good comparables because of the unique nature of mineral properties and the small number of transactions. Cost approach methods, such as appraised value and geoscience factor, are commonly used for exploration stage properties.Canadian standards and guidelines for valuation of mineral properties are in the process of being finalized by a Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIMVal Committee). The CIMVal Standards are intended to be consistent with National Instrument 43-101, which sets regulatory standards of disclosure for mineral projects, and with International Valuation Standards. The intent of the CIMVal Standards and Guidelines is that mineral property valuation be carried out by appropriately qualified individuals and that all relevant information be disclosed."

Jan 1, 2003

By John Heter

An alum/sulfur deposit (USDA organic registered) was mined underground for alunite (K,Na) Al3 (SO4)2 (OH)6 from the early 1900s to the 1930s. It is now being mined as an open pit quarry. A larger assemblage of minerals is included with this method (Alunite, Potassium?Alum, Jarosite, Gypsum, Native Sulfur and K-feldspar). This assemblage of minerals provides the necessary requirements as a Volcanic Soil Conditioner Sulfur-Potash. Heart of Nature? Company has been marketing this product to farmers on the west coast as a (1) pH reducer, (2) soluble sulfur and potassium source for plant growth and (3) soluble calcium. Recently, a new market has been tapped. This product has been found to solve many odor, bacteria and algae problems faced in the dairy industry.

Jan 1, 2008

By Donlad B. Lindsay

This report describes a field-test program to determine the effectiveness of a polymeric wall sealant to reduce the excape of naturally occurring radio-active gas radon from the walls of an underground uranium mine into the ventilation air. A 75-foot-long, dead-end drift with a surface area of about 6,000 ft2 was used as the test site in which the average natural radon flux from the normally dry rock was 16 fCi/cm2-s. The effect on radon emanation of wetting the walls with water to a depth of 3 inches was tested, after which the rock was completely covered with a coating of dry-mix concrete to provide a base for the sealant, an acrylic latex. Sealant was applied in two coats to about 0.25 mm thick. An overall reduction of average radon flux of about 75 pct was achieved. Radon production and other environmental values were measured continuously and automatically by a Bureau of Mines data acquisition system. A commercial microcomputer was programed to convert raw data to engineering units and to perform other useful operations while recording all data on magnetic diskettes. Direct measurements of radon flux from the rock surface were made by a charcoal adsorption technique.

Jan 1, 1981

By Charle Pelley, Kosta Fytas, Peter Calder

"A computer model has been developed which is capable of evaluating alternative production schedules (long- and short range) of an open pit mine once the ultimate pit limits have been defined. The model user can choose the best alternative according to cash flow considerations and the particular mining conditions. The model involves a combination of simulation for long range production scheduling and linear programming for short range scheduling. IntroductionMining of mineral deposits in such a fashion so that, at depletion the maximum possible profit is realized, has been a very old problem of the mineral industry. In the past, when high-grade ore reserves were readily available and profits were very high, no question of optimum profitability was raised.However, recently the complexity of both open pit and underground mining has been increased tremendously. The additional problems of continuously rising production costs on one hand and of depressed metal prices worldwide on the other, have been demanding optimum profitabiliy from every mining venture .Particularly in the area of open pit mining, the sequence of ore and waste extraction has now become very important since the size of the pits and of the mining equipment has increased enormously. The process of open pit mining involves a continuous change of the open pit surface and there are many feasible plans of extraction which lead to the same final pit shape (ultimate pit limits). Each of these feasible plans generates a production schedule over the entire mine life, which mayor may not be optimal."

Jan 1, 1987

By B. Yu, N. Verbaan, A. Mezei

The recent 20 years witnessed a boom and bust in the nickel laterite industry. Most notoriously is the story of the first three Western Australian nickel laterite projects which all suffered major ramp-up issues. Many hard lessons were learned by the industry and it has been widely reported that the major contributing factors included insufficient testing as well as a limited understanding of the materials handling characteristics at the front-end stage of the flowsheet. This paper compares the current "race to production" in the REE industry to the laterite industry 20 years ago and addresses the fundamental question: ‘Have mining and exploration companies with rare earth projects learned from past lessons and are they doing sufficient and appropriate testwork to prevent failure’? The authors will provide the perspective of a commercial metallurgical laboratory that has gone through the laterite cycle and is active in the present REE cycle.

Jan 1, 2014

By Elmer E. Buban

A lightweight compressed oxygen rescue breathing apparatus (RBA) for rescue and recovery missions has been developed by Mine Safety Appliances Company under contract to the Bureau of Mines. The apparatus is a positive pressure, closed circuit system of 4 hours duration. The weight of the complete apparatus, including an optional cooler, is slightly over 30 pounds. Weight reduction over currently available RBAs is achieved through the use of lithium hydroxide for scrubbing C02 in place of conventional chemicals and the use of a composite glass fiber/ aluminum shell cylinder for oxygen storage in place of steel cylinders. Positive pressure is maintained in the breathing circuit at all times by applying a constant spring force to the breathing bag. The harness has been designed to reduce the work of the wearer by redistributing the weight of the apparatus to the wearer's hips.

Jan 1, 1981

By Albert H. Fay, Herbert M. Wilson

The national mine-safety demonstration at Pittsburgh, Pa., was projected and undertaken in the hope that it would aid the increase of safety in the mining industry. That the national mine-safety demonstration was warranted and has served a useful purpose was evidenced by the attendance, not only at the public demonstration in Forbes Field, but also at the more special exhibit of the work of the Bureau of Mines at the arsenal grounds and at the experimsntal. mine. Nearly 2,000 persons witnessed the demonstrations and exhibits of the Bureau of Mines at the arsenal grounds on the morning of October 30, 1911. The spectators were all mine operators, miners, or persons interested in mining, and represented operations in all parts of the United States. Nearly 1,200 of these persons visited the bureau's experimental mine at Bruceton to witness ~th~explosion of coal dust. Had the weather, which was exceptionally inclement, been more favorable, there would doubtless have been a much larger attendance. At the public demonstration in Forbes Field, which· was witnessed by President Taft, from 12,000 to 15,000 persons, chiefly mining men, were present and attested their interest and enthusiasm in the minesafety exhibits by remaining throughout the proceedings, regardless of the rain which fell all the morning .. Sincethis demonstration, the organization of first-aid corps and of rescue corps has been undertaken at mines where there had previously been no such organizations. The bureau has received letters of commendation attesting the value of the demonstration in drawing· attention to the dangers and to possible means of greater safety in mining. Many of these letters have urged that the results of the demonstration be published for the guidance and instruction of those who were present. In response to these reauests the following account of the mine- BlIIeLY demonstration lias been prepared. IIi its preparation various division and section chiefs of the Bureau of Mines have cooperated. The authors acknowledge the assistance they have received from those section chiefs and other members of the bureau who contributed detailed descriptions of apparatus exhibited at the demonstration or of investigations represented.

Jan 1, 1912