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By M Cooksey, Z Zhu, N Langrené, W Chen, T Tarnopolskaya

"Dynamic decision-making can significantly increase the value of mining projects and deliver better sustainability outcomes under conditions of uncertainty. Despite its benefits, dynamic decision-making is rarely used by the mining industry, possibly because of the complexity of the algorithms used to make sequential decisions under uncertainty and difficulties in visualising the optimal strategies. To achieve better outcomes in practice, decision-makers in industry would benefit from a tool that would help them to understand and implement the results of the analysis.CSIRO is developing innovative dynamic decision support tools that include an intuitive graphical display of the boundaries between the regions of different optimal decisions, which would significantly assist optimal sequential decision-making under uncertainty. The dynamic decision support tool is based on novel stochastic optimal control methodologies that can be used to optimise decisions in situations with multiple uncertain variables and decisions (Tarnopolskaya, Chen and Bao, 2015; Chen et al, 2015; Langrené et al, 2015). The types of market uncertainties that can be considered include commodity prices, interest rates and exchange rate, while the key orebody uncertainties include the reserves, boundaries between ore types and even geometallurgical parameters.The dynamic decision support tools have a number of benefits and can be used to:construct optimal operational strategies and to optimally manage resources projectsgain insight into optimal strategies under different market conditions and project settings compare expected project values under different project settings and to select the setting that provides best sustainability outcomes.This extended abstract demonstrates the use and benefits of the dynamic decision support tools using a synthetic case study of a gold mine.CITATION:Chen, W, Langrené, N, Tarnopolskaya, T, Zhu, Z and Cooksey, M, 2016. Dynamic decisions under uncertainty – a case study on a gold mine, in Proceedings Life-of-Mine 2016 Conference, pp 20–23 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 28, 2016

By D Willis, A Shanahan, C Jacobs, T Luxner

The application of tunnel boring machines (TBM) for reef mining is a unique practice with benefits over current mining methods given the right geology and geometry of the orebody. The Stillwater Mining Company (SMC) of Nye, Montana, USA operates two mines for obtaining platinum metals. The operation is currently using a 5.5 m diameter open-type machine for further mine development, as well as another TBM that they own.The latest 7.1 km bored tunnel, known as the Blitz Tunnel, will be routed parallel to the ore deposit in igneous mafic intrusive rock, and will be used for the life of the mine operation. It will be used to map the ore deposit, and provide a rail haulage route.Detecting the reef in relation to the TBM requires careful analysis. Diamond core drilling occurs ahead, above, and alongside the machine at every 150 m. The core is drilled, logged, and interpreted on the spot, concurrent with boring. Based on the data, the TBM is readjusted so that it stays on the correct bore path.This paper will highlight the application and benefits of TBM usage for reef mining, with detailed descriptions from the mine site.CITATION:Willis, D, Jacobs, C, Luxner, T and Shanahan, A, 2014. Tunnel boring machine usage speeds up development at Stillwater Mine, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 683–690 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By G. W. Grove, O. V. SIMPSON

During the years 1945, 1946 , 1947 , and up to July 1, 1948, only one death was caused by mine fires in bituminous - coal mines of the United States . The one fatality occurred in an Illinois mine in December 1945, and , therefore, there had been a period of 2-1/2 years in which no deaths occurred as the result of mine fires . Moreover, 1946 was the first year since 1930 in which no deaths occurred from mine fires . This record is markedly better than that of 1944 , when 89 fatalities and great property damage were caused by mine fires in bituminous - coal mines and 16 additional men were killed by an explosion that occurred while they were attempting to seal a mine fire .

Apr 1, 1949

"The profile of the respondents was that of a professional responsible for communications, community relations or corporate social responsibility programs. By targeting a consistent professional profile it was possible to ensure that most respondents had a similar degree of responsibility and/or decision-making ability related to the application of communication technologies. The research attempted to be inclusive and attention was paid to interview respondents from both genders and from indigenous groups.4, 5 A codebook of 80 themes was developed that highlighted recurring topics; for example, codes were created to identify risks, benefits, policies and learning process of using social media and included topics that were repeatedly emphasized by respondents (i.e. age, efficiency and language). Both manifest coding (i.e. coding of the visible content, such as specific words) and latent coding (i.e. coding of underlying meanings) was undertaken (Creswell [13]). The codes were used in the qualitative analysis using ATLAS.ti software and network views were created to illustrate the relationship between major themes of this research. There are limitations to this research, largely related to the changing nature of the Internet and communication technologies. There is also a geographic limitation to the application of this research because most of the data was gathered primarily from Canadian sources.6 Different levels of Internet penetration, or limited access to computers or mobile devices, and low literacy rates may reduce the applicability of the research in countries with low Internet penetration. A more systematic process to selecting candidates may have helped bring balance to the final list of interview respondents. For example, most of the corporate respondents were from medium and large companies and there was not adequate representation of small mineral exploration companies. The research did not probe into social media applications by different business groups within the mining sector, such as smelting and processing."

Jan 1, 2011

By Neo Molelekeng, Jocelyn Bouchard, Rebecca Monnapula, Martin Émond

"Xstrata Alloys – Eland Platinum concentrator (South Africa) has recently been commissioned and is now initiating a challenging optimisation program encompassing the entire operation. Process control improvements are key elements of the program and initial results have demonstrated how leveraging from current assets can bring significant improvements through overall reduction of variability. This paper gives a brief overview of the operations and details how Eland is striving to become a top tier leader with advanced regulatory control strategies recently implemented. Results reveal that what can be achieved in a standard control system (PLC or DCS) should not be underestimated as the first interventions led to a steadier operation of the primary ball mill circuit. Following the improvements, significant and sustained reductions of standard variation were observed for key process variables around their set-point: primary ball mill feed rate (72 %), rougher feed density (58 %), and rougher feed flow rate (47 %). A path forward has been identified to tackle further opportunities around the primary grinding circuit: water balance management, throughput optimisation as well as charge and power draw control.INTRODUCTIONThere are numerous approaches to mineral processing plant optimisation. As the benefits of determining the right reagent types, mix, dosage and addition points, or the proper charge of grinding media in a mill are fully appreciated, there is still nowadays some misunderstanding and misconceptions about process control in general and how it can contribute to the whole optimisation process. The confusion between the various disciplines involved, i.e. instrumentation, control system programming, automation and process control, certainly does not serve the best interest of the industry with this regard."

Jan 1, 2010

By Noel Brien, O&apos

General: National Asbestos Mines Limited has operated an asbestos mine and mill near Thetford Mines, Quebec, since 1958. As a result of additional exploration of the orebody in 1962-63, it became apparent that long-range mining plans would have to be revised to allow for a large increase in both ore and waste tonnages. It was decided that the task of checking out possible mine designs could best be analyzed by a computer to obtain data from which an optimum open-pit configuration could be plotted. Object: It was desired to arrive at an optimum open-pit configuration with an over-all pit slope of 45 degrees and a minimum operational width of 200 ft. at the bottom. Calculations were based on assay values from diamond drill holes in cross sections of the mine. The computer's assignment was to select and describe, by coordinates, the optimum cross section for the mine. Mine engineers then assembled the various optimum sections to produce the pit outline. As this would not necessarily result in a practical mining arrangement, the computer also provided alternate solutions,

Jan 1, 1965

By Julian Vigil

Mountain bumps have been a problem in the coal-mining industry since the 1920's. The problem became severe in the late 40's and early 50's with the introduction of mechanized mining. Fatalities and serious injuries resulted from mountain bumps during this period. Mountain bumps again caused fatalities in the 80 's. Interviews were conducted mostly with retired coal miners having experience in bump conditions with five different coal companies. These men held positions as president, general manager, roof-control specialist, mining engineer, inspector, superintendent, mine foreman, shift foreman, section foreman, miner operator, electrician, and general laborer. Together, their comments give a good idea of the things tried to mitigate mountain bumps in the Appalachian Coal Fields.

Jan 1, 1991

By M. J. Bunyard, I. Mullany

"The pressures on mine operators are varied and constantly increasing, declining ore grades, more remote locations and increasing environmental concerns. The challenge facing the mining industry is to find new ways to process ores which are more efficient and less costly and to control them better. This requires a fundamental rethink in the way in which projects are developed, it is no longer good enough to just copy what has been done before. The process starts with the surfacing of the primary underlying constraints for the project and the establishment of new design principles to address these. The generation of new design criteria and processing options follows the well-established path of brainstorm, focus, brainstorm, refocus and economic evaluation. The aim is process intensification, doing more with less, as early as possible and better use of plant data. The methodology requires a complete geometallurgical understanding of the orebody to facilitate the evaluation of viable processing options. Examples of early stage processing considered are blast optimization and ore sorting to reject waste and reduce processing costs. Mine to mill integration, which starts with the optimization of blasting for separation, offers another way to significantly reduce operating costs and increase efficiencies.VALUE MODEL The mining industry has, over the past decade, experienced an unprecedented cycle of increased commodity prices and investments in new mining and processing capacity followed by a market collapse and fall in prices and confidence. Whilst there are now some signs of a return to investment in new capacity, the metals and mining industry is still wrestling with eroding margins and investor demand that companies achieve the full value of their assets. Metals and mining companies must work on all available levers to deflate their costs back to more manageable levels and capture the full value for their products. Levers include optimizing external spending, re-thinking make vs buy trade-offs, debottlenecking, improving availability and operating time of key equipment, more accurate and agile planning processes, value-in-use optimization, and tighter performance management. Figure 1 is a diagrammatic representation of a company’s value model. The three goals of a successful mining enterprise are social acceptance, environmental acceptance and sound financial returns to shareholders. Some of the KPI’s used to measure the success or not of achieving these goals are shown in the translation layer."

Jan 1, 2017

By H. J. Oterdoom

SMS Group (SMSG) has always been concerned about safety aspects of electric smelter plants for the ferro-alloy and non-ferrous industry. The awareness for safety increased significantly over the past decades and also SMSG contributed with its design features to a safer operation. Today, safety aspects are not only part of the smelter design but also of the overall plant layout. Explosions in electric smelters are rare, but have a huge impact on peoples’ lives, on equipment and on production. For this reason, SMSG wanted to have a better overview of explosions within the smelting industry in order to see if useful statistics could be extracted. Generally, there is a lack of statistics regarding explosions in the electric smelting industry, and not enough information is collected or published. A significant portion of the explosions seems to be water related. Many companies, both operating and engineering, are trying to handle the risks of water, and apply methods to detect water leakages. Installing such a system is a management decision and management has then to make sure the system is properly implemented. The disadvantages and limitations of these systems should be carefully considered and communicated to operators and authorities.

Jan 1, 2015

By I. D. Nock, R. M. Parkin

Paper presented at a meeting on: Artificial intelligence in the minerals sector, held in Nottingham, UK, 20 April 1993 (original title: Knowledge-based condition monitoring of cone crushers). A large proportion of the electricity used by the quarrying industry is consumed in the comminution and sizing process. In most cases aggregate processing plants operate with minimum control features resulting in limited operational efficiency. Improved control is required to increase operational efficiency with concomitant savings associated with reduction in re-circulating load and improved resource utilisation. Development work has suggested that a combination of adaptive control and process condition monitoring could improve control of comminution plants. Many commercial process control and condition monitoring systems are available, but none were deemed suitable due to the domain specific characteristics of the application. An assessment of the particular characteristics of cone crushing concluded that the application was best suited to the use of small domain specific process control combined with bespoke condition monitoring. The processing power of the control system for the project is a function not of the academic requirement, but rather the economic and practical constraints imposed by the application. As a result of the constraints a high-end PC system has been designed in preference to a workstation. Within the research project work packages are sub-divided into novel wear sensor development, knowledge based control/condition monitoring and the investigation and mathematical modelling of the wear mechanisms inherent in cone crushing. Numerous strategies were considered to implement the control system outlined. The system currently under development is a modular design which utilises intelligent novel sensors to provide a variety of data inputs

Apr 1, 1994

By A. R. Rule

Research was done by the Bureau of Mines to determine the effect of a low-molecular-weight polymer on wet grinding of quartz, dolomite, and a copper ore. A 5-in ball mill equipped with a torque sensor for precise measurement of input energy was used for batch grinding tests. Grinding parameters were determined from size distribution data on the feed material and ground product. Zeta potential measurements were made to determine the effect of the polymer on the surface properties of the three materials, and a viscometer was used to measure the effect of the polymer on slurry viscosity. The addition of the polymer caused a sharp increase in the negative value of the zeta potential for all three materials, indicating that pronounced adsorption was taking place. At a constant slurry percent solids, addition of the polymer caused a similar reduction in slurry viscosity for each material. For quartz, dolomite, and the copper ore, grinding efficiency, as measured by kilogram of product per kilowatt hour passing a given screen size, was not affected by the addition of the polymer. However, the lowering in slurry viscosity caused by addi-tion of the polymer permits grinding at a higher slurry percent solids.

Jan 1, 1985

By G. Chitiyo

Prediction of pothole characteristics is a challenging task, confronting production geologists at the platinum mines of the Bushveld Complex. The frequency, distribution, size, shape, severity and relationship (FDS3R) of potholes has a huge impact on mine planning and scheduling, and consequently cost. It is with this in mind that this study was initiated. Quantitative analysis of potholes indicates that pothole size (area covered) can be described by two partly overlapping lognormal distributions. These are referred to as Populations A (smaller) and B (larger). The range of observed pothole sizes conforms to a simple double exponential growth model based on Newton's Cooling Curve. A third size range of very large potholes (Population C) that could not be modelled properly within the proposed growth model is interpreted as to represent a very early phase of aggressive regional thermo-chemical erosion and potholing. In general, potholes are dominantly quasi circular with only a subordinate tendency of elongation. In the UG2, potholes with elongated forms are more prevalent in the size range between 20 and 500 m diameter. In the Merensky Reef elongated potholes are more common in the size range above 50 m in diameter. Although not distinctly visible, elongation of potholes in both the UG2 and the Merensky Reef show a net north/south orientation. Using shapes of pothole rims and floor areas, documented for the UG2 in the Waterval Shaft area, it is demonstrated that the northern, down-dip edges of potholes have steeper dips than the southern, up-dip edges. Spatial distribution studies using a uniform quadrant method suggest that in both the UG2 and the Merensky Reef, the potholes are randomly distributed, with a tendency towards clustering. Clustering appears to be more prevalent in the smaller Population A potholes. Bearing all findings in mind, it is found that the model of thermo-chemical erosion of the cumulus floor by new influxes of superheated magma best explains the observed data. Partial to complete melting of the cumulate floor occurred in three phases. The first represents the emplacement of hot magma. This magma, due to turbulent flow and high chemical and physical potential, aggressively attacks the existing floor (crystal mush on the magma/floor interface). Regional erosion is manifested by large, often coalescing potholes. During the second phase, when the magma emplacement process ceased and cooling in situ started, two distinct periods of pothole formation ensued. The first is related to rapid cooling along the relatively steep part of the Newton Cooling Curve, when Population B potholes nucleated randomly and grew rapidly with concurrent convective overturn and largely laminar flow condition. The second period of cooling occurred on the shallow-dipping part of the Newton Cooling Curve. Population A pothole growth became more subdued and nucleation appears to have been, at least locally, clustered. The final phase of this proposed 'super magma cycle' was introduced when chromitite crystallization and precipitation terminated pothole formation. This was followed sequentially by pyroxene and plagioclase crystallization to form the typical cyclic units of the Critical Zone. No suitable proxy could be found for the prediction of pothole density of potholes associated with the UG2 (likely due to limited spatial data coverage), and these are best predicted by extrapolation. The Merensky Reef slope index, in contrast, provides a proxy for pothole density, enabling prediction with reasonable confidence. This predictive model has been verified using underground information. The findings made during the course of this investigation have, when implemented, significant impact. Successful implementation will not only allow enhanced resource and reserve definition, but also better mine planning and scheduling.

Jan 1, 2008

By Walford S. Wright, NORMAN EBBLEY

During the past decade (1937 to 1947), including the war years of heavy demand for metals, the United States realized about one-eighth of its antimony requirements from domestic production, chiefly in Alaska. In World War II, our foreign supply sources became endangered; and uncertainty in our Far Eastern supply made this nation focus on Alaska’s mineral resources with a Production Gear that centered in the Bureau of Mines experimental station at College (Alaska). The development work known as District or central deposits. The strategic mining districts included that of central Alaska was reorganized at Ketchikan Mining Districts. Mines were located here had produced considerable quantities since 1901; but methods for exploration had come from 1936 to spring 1942, some $4 million produced in gold alone. Statistics relating to available ores are those selected by type and exploitation periods with wide variety applied. During the summer of 1941, as part of an extensive Geological Survey program continuing through funds provided by U.S., geological surveys spent six weeks mapping an area approximately two square miles surrounding mines. The mines working both surface & underground work employed these men in mapping exercises.

Jan 1, 1948

By J. T. Crawford

ALTHOUGH nearly 10 pct of the total tonnage of coal produced annually within the United States is handled by bulk freighters on the Great Lakes, very little of the detail connected with it has been published other than occasional newspaper stories and publication of tonnage statistics. Of the total tonnage floated on the Lakes each year some 10,000,000 is stored and distributed from the port of Duluth Superior, at the western end of Lake Superior commonly known as the Head of the Lakes. This port has the largest single area concentration of coal docks in the world. Since this area contains the largest ore docks, the largest movable material handling bridge, the largest and highest grain elevator and the largest coal briquetting plant in the world, it is entirely fitting and proper that here also should be located the largest coal dock and what we believe to be the worlds largest clam shell. Of the sixteen coal docks operated by ten companies, five are owned and operated by the North Western-Hanna Fuel Co. which has two docks on the Superior, Wis. water-front and three docks in Duluth, Minn. It is with these five docks that we are primarily concerned. GENERAL HISTORY In the summer of 1871 a small sailing vessel entered the harbor of Duluth Superior with the first commercial coal cargo. All the coal brought up that first year did not amount to more than 3000 tons. During the year 1877 the first dock equipped for handling coal was built in Duluth. Coal receipts increased to 52,785 tons in 1879 the first year for which an official record was kept. Since then the volume of water-borne coal to the Head of the Lakes steadily increased to a maximum of 12,688,321 tons in the year 1923. This tonnage was nearly equalled in the year 1927 and the next highest tonnage recent year was in 1946 when 10,105,703 tons were unloaded. The average annual bring-up over a ten year period 1938 to 1947 was 8,605,231 tons. Approximately 30 pct of the coal unloaded at the Head of the Lakes is handled over the docks of the North Western-Hanna Fuel Co. Competition of other fuels coupled with expansion of coal fields in the mid-west have held coal receipts for Duluth-Superior at a relatively constant figure during the last eight years although the total tonnage of coal floated on the Great Lakes has more than doubled in the past 25 years. From the shovel and wheelbarrow method of unloading early cargoes to the horsepowered windlass derrick with a wooden tub was but a short step. The first movable coal handling, steam operated,

Jan 1, 1948

By Avery H. Reed

RECORD production of portland cement, crushed limestone, marble, lime, and clays highlighted the mineral industry of Alabama in 1959. Among the States, Alabama ranked second in production of bauxite, and third in output of iron ore, scrap mica, and native asphalt. Alabama's mineral industry was dominated by the mining and processing of coal and iron ore, which accounted for 51 percent of the total value of production in 1958 and 1959. Other important industries were cement manufacturing, petroleum, and stone quarrying. Leading companies were Tennessee Coal & Iron Division of United States Steel Corp. (coal;. iron ore, limestone, lime, and magnesium compounds), Southern Cement Co. Division of American-Marietta Co. (cement, lime, limestone, and miscellaneous clay) , Woodward Iron Co. (coal and iron ore), Alabama Power Co. (coal), and Ideal Cement Co. (cement lime, and miscellaneous clay) .

Jan 1, 1960

By Ludwig Hermann

"Phosphorus is required by every cell of living organisms and essential for plant growth. It is a non-renewable resource that must be mined from natural deposits, going gradually into depletion. Abundant secondary resources are available in sewage sludge and meat and bone meal, with the highest exploitable P concentrations in ashes that remain from their widely used combustion with energy recovery. ASH DEC has successfully removed heavy metals and transformed sewage sludge ash into a marketable P fertilizer by application of a thermo-chemical treatment process. Pilot scale investigations in which ash was treated proved that generally heavy metal limits required by fertilizer legislation can be attained. To achieve a high P availability for crops – an essential fertilizer quality feature – was a more challenging R&D task. Our presentation demonstrates the scientific approach and R&D results that lead from assessment of market requirements to licensed products.IntroductionPhosphorus (P) is required by every cell of living organisms. It is one of the major elements for plant nutrition and therefore essential for crop production. P supply in plant nutrition depends entirely on external inputs into soils [1]. This is achieved by P-fertilizers deriving from rock phosphate deposits that are gradually going into depletion. Serious prognoses anticipate that rock phosphate will be the first low running resource in the world [2]. In the EU, last year 2.530 kt of phosphorus (P2O5 in fertilizers) was consumed and only 313 kt (P2O5 in rock phosphate) was mined. Since 2007, rock phosphate prices have increased by 500% because of a tight supply situation [3].For these reasons, P recycling is becoming an increasingly important issue. Suitable secondary raw materials with regard to their high P-content and abundance are sewage sludge and meat and bone meal. In the EU 989 kt P2O5 are accumulated annually in theses materials, of which 632 kt P2O5 are permanently lost to landfills and other forms of disposal. The main reasons for their limited recycling are concerns on heavy metal contents and organic pollutants that may incite health hazards. As an additional shortcoming, the availability of P from these materials to plants is poor and storage and transportation are problematic issues [4, 5]."

Jan 1, 2008

By R. M. Santmyers

Except for optical purposes and a few other special uses quartz and quartzite are to a considerable degree interchangeable. This also may be said with respect to pulverized quartz and ground silica sand, which are discussed in a separate paper of this series. All these materials, except perhaps quartz crystals of optical grade, are abundantly available in many parts of the United States. In the form of ordinary crushed stone much of it is sold at $1 a ton or less, and ordinarily

Aug 1, 1931

By L. S. Hansen

Organized efforts toward the prevention of injuries and occupational diseases have been of comparatively recent origin in the mining industry, dating generally from the beginning of this century. Mining-and particularly underground mining- is more hazardous in many respects than most other major industries, and continual and increasing attention has been given to its health and safety aspects. The importance of the physical well-being of those engaged in mining was recognized by Agricola, who, after describing the hazards encountered in 16th century mining operations, stated that "Some of these evils, as well as certain other things, are the reason why pits are occasionally abandoned." In the past 50 yr particularly, mine managements and labor organizations, separately or collectively, have mounted productive efforts toward the prevention of accidents and industry-associated diseases and illnesses. A statistical study of this period indicates that increasing awareness coupled with the endeavors of all concerned agencies has resulted in decreasing frequency of occurrences of injuries and illnesses. In recent years particularly the mining industry has used the services of safety engineers, industrial hygienists, inspectors, ventilation engineers and other specializing in locating and correcting deficiencies affecting the welfare of employees. Concurrently, the labor movement has incorporated into its organization individuals working in the fields of health and safety, many devoting full time to these responsibilities. Others serve in behalf of their fellow workmen as on-the-job safety representatives. Most authorities agree that accidents are caused by (1) unsafe acts, (2) unsafe conditions and, exceptionally, (3) Acts of God. The "unsafe act" often is cited as the prime cause. but many accidents, and attendant injuries, are the result of a blend of "unsafe acts" and "unsafe conditions," with each chargeable in varying proportions. It therefore is necessary to consider both the physical elements of the mine plant and the training, mental attributes and actions of all personnel involved. Analysis of an accident, if based on hasty reconnaissance and unduly hurried questioning, seldom will disclose more than surface causes and consequently will result in inadequate measures to prevent repetition. Mining involves unavoidable and calculated risks, as in all facets of life. It is most important then that men employed in mining be schooled in the hazards and develop fully the ability to evaluate and minimize risks. The environment, of underground mining often is harsh and strange compared to the more natural surface conditions man has learned to cope with as a part of established life patterns. The miner. therefore, must adapt to unusual situations and conditions and must develop a mental attitude permitting acceptance of change. 3.1-INDUSTRY-AFFILIATED SAFETY AGENCIES L. S. HANSEN There are many organizations primarily interested in health and safety. In addition to industry and labor groups, there are many private and governmental

Jan 1, 1973

How the Australasian and Canadian Codes (VALMIN and CIMVal) approach mineral property valuation is described. Brief comment is also made on the International Valuation Standards CommitteeÆs interest in a global valuation standard for Mineral (Extractive) Industries and the South African SAMREC initiatives to adopt a VALMIN-like Code. The conventional tripartite classification of valuation approaches into those that are Market-based, Income-based and Cost-based is outlined. It is best practice to use as many of these approaches as possible (and as many methods as reasonable in the particular circumstances), given the quantity and quality of the data available on the Mineral Asset (which depends upon the state of development of the mineral property). The use of specific methods must satisfy the basic considerations of logic and reasonableness and the purpose of the valuation. The competence, judgement and repute of the valuer are critical factors, since all valuations are time and circumstance specific. What constitutes æMarket ValueÆ in the different jurisdictions is discussed and definitions are given. Challenges facing the globalisation of a VALMIN-type Code for the international Minerals Industry are the influence of real estate valuers and the US jurisdictional idiosyncrasies. This is mainly due to a fixation on real property rights with a preference for using real estate-like comparative sales techniques (Market Approach) to the exclusion of Income-based approaches; a regulatory reluctance in the US to accept that Resources have considerable value; and the International Accounting Standards BoardÆs preference for Historical, rather than Current Value, accounting.

Jan 1, 2002

The Takasima Coal Mines comprise four islands near the entrance to Nagasaki Harbour, and are owned and worked by the Mitsu Bishi Company.There are several unusual features in the occurrence and working of these coal seams, the steep angle of "dip," the numerous seams of good coal separated by hundreds of feet of sedimentary rocks, the extensive faulting of the strata, and the way in which the coal is won, when so little surface is available for works, and where there is the ever present danger of subsidence of the roof and consequent flooding of the workings by the ocean. The author trusts that short notes on these few points will be of interest to members.The Islands are named respectively Hasima (Extreme Island), Nakanosima (Middle Island), Takasima (High Island), and Yokosima, and are situated about one mile from the main land.

Jan 1, 1901