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By R J. Goldie

The Monty Copper Gold Deposit is an ultra-high grade mine in Sandfire Resource’s Doolgunna region which was completely drilled out and developed within two years of commencing mine development. During this period, a total of 986 grade control diamond drill holes were completed, assayed, and validated, 15 levels developed, and 3136 faces mapped. The aggressive schedule meant a high flow of geological data was produced, validated, and incorporated into regular geological model updates. To process this data at a rate which allowed for timely use, more robust data processing methodologies needed to be generated. A new validation system was implemented which required two levels of validation being applied to any diamond drilling update. Step one was the validation of initial physical data including survey pick-ups and logging. This was done prior to new drill data being added to the geological model. Step two was the validation of assay data which was required prior to resource estimation. The implementation of Seequent’s Leapfrog Geo modelling software also allowed for a more seamless and efficient modelling workflow. The use of the Leapfrog Geo vein systems allowed for more rapid generation of geological models which then afforded more time for stringent assessment of the mineralisation system. An example of this was the introduction of cross-shift peer reviews in which opposing rosters of geologists would rigorously evaluate the previous rosters work prior to reporting. This additional level of validation resulted in more robust geological models and the identification of new ore trends. This presentation will detail the evolution of the Monty Geological model from a simple tabular indicated resource into a complex highly refined measured resource. Themes will include how the model was produced using workflows developed and optimised to meet key deliverables.

Mar 22, 2022

The first metal-mine accident-prevention course was prepared and published in 1942-45 as a series of seven miners' circulars (Nos. 51-57). The course has been broadened in scope, revised, and brought up to date and is being published as a similar series of seven miners' circulars (Nos. 51-57, revised) on accident prevention in metal and non-metallic mines. These circulars are as follows: Injury Statistics (Miners' Circular 51), dealing with general statistics on injuries from accidents at metal and nonmetallic mines, including causes, costs, and the use of investigations and reports of all injuries.

Jan 1, 1960

By Guanghua Wen, Jian Li, Mingmei Zhu, Fei Xiong, Shengjian Cao

"Small inclusions removal from molten steel in a continuous casting tundish by gas bubbles, which were generated in the turbulent flow region by introducing inert gas, was analyzed theoretically and the inclusion-bubble adhesion and flotation process was also observed by high-speed photo-graph in water model. Results showed that small inclusions in the range of 20-50µm removal from molten steel by bubbles flotation involves three stages: contact, adhesion and flotation. The inclusion-bubble adhesion processes include two ways: inclusions adhering to the upper part of the bubble and inclusions adhering to the lower part of the bubble. As the bubble floats up, the number of inclusions adhering to the bubble are increased. The proper size of bubbles, which could enhance small inclusions removal efficiency, should be controlled in the range of 1-2mm.IntroductionReducing inclusions content in molten steel is a very important way to improve quality of steel, and one of the main tasks in steel making process.A variety of methods have been used for inclusions removal in molten steel. At present, the main approaches to remove inclusions are gas stirring, slag cleaning, filtering, centrifugal separating, and by means of ultrasonic or electromagnetic field. Among these techniques, gas stirring is the most widely and effectively method for inclusions removal. Inclusions in molten steel will be aggregated and generated to form larger size inclusions, and subsequently floated to the surface of molten steel by buoyancy; meanwhile, some inclusions will be adhered to bubbles and floated together to metal-slag interface where inclusions are absorbed by the covering slag layer. Some research work showed that flow behaviors of small bubbles are different from that of big ones [1-2], and smaller bubbles are more efficiency for fine inclusions removal in molten steel.There are many methods to generate bubbles. During steelmaking process, highly turbulent flow in the ladle shroud can split introduced inert gas into small bubbles, which enhances the removal of fine inclusions from molten steel. Turbulent flow of molten steel injected into tundish from ladle shroud has a high speed and it is a strong turbulent area in continuous casting. The gas can be introduced into the shroud below the slide gate. The high turbulence flow would break up the gas into small gas bubbles. Fine inclusions will be easily adhered to small bubbles and subsequently floated to the surface of molten steel. Generation of small bubbles in ladle shroud have been studied in some literatures [3-4]. Some research have analyzed the fine inclusions removal with injecting gas from the ladle shroud by mathematical simulation, and the results show that the refining method can obviously improve the removal efficiency of fine inclusions in tundish [5-8]."

Jan 1, 2013

The Cadia Mine is located 25kms South West of Orange in the central west of New South Wales (NSW), Australia (Figure 1). Orange is a major regional centre with a population of 35,000 people. Cadia has a history of mining and exploration dating back to 1851 and shortly after the first Australian gold rush at Ophir, north of Orange. Newcrest Mining commenced an exploration program at Cadia Hill in 1992. This identified a substantial zone of copper and gold mineralization. Subsequent resource definition drilling defined an orebody with a mineable reserve of 200 million tonnes of ore with an average gold grade of 0.74g/t and 0.17\ copper. A full feasibility study commenced in 1994, approvals to proceed with development were granted in September 1996 and the processing plant was commissioned in July 1998. The project came in on budget at A$440 million and on time, 24 months from design to construction. The estimated operating cost at the time of commissioning was A$8.85/t of mill feed.

Jan 1, 1999

By Amos Bryant, Jesse Davis

This paper compares the predictions of the latest Institute of Makers of Explosives Safety Analysis for Risk (IMESAFR) model versus physical test data recovered from ISO-1 and ISO-2 tests in Woomera, SA. ISO-1 testing included placing 1054 kg (2324 lbs) of ANFO (ammonium nitrate-fuel oil) inside an ISO container on a flat bed truck. ISO-2 testing was identical except the NEW was 4000 kg (8818 lbs). The IMESAFR predictions are based on model runs using the best match available to the actual donor type involved in the test. This type of debris analysis is not the standard output of IMESAFR, as the program is designed to assess the probability of human fatality. However, all of the IMESAFR predictions presented were obtained from the use of the actual model equations and algorithms without adjustment. Test results from ISO-1 and ISO-2 will be presented as well as findings from the comparison between model results and actual explosive results from the ISO testing efforts.

Jan 1, 2010

The report of the Annual General Meeting of the Institution of Mining and Metallurgy held on Thursday, 20 May, 1971, in the rooms of the Geological Society of London, Burlington House, Piccadilly, London, W.1, at 4 p.m. (Chairman : M. J. Cahalan, President) includes details of awards and prizes presented to William Justin Kroll, Sir Gordon Colvin Lindesay Clark, John Convey, Evert Hoek, Peter Reginald Dawson and Christopher Michael St. John

Dec 1, 1971

By Raymond E. Healy

Circuit samples from the HBMS concentrator were assayed for l5elements, and image analysis was done to determine the modal quantities, grain size distributions and liberations of the minerals. Material balancing was done on these data to determine distributions of the minerals in each concentrator stream. The ore was mined during the waning phase of mining and is diluted with backfilled copper smelter slag. The mill feed grades 1.0 wt% Cu and 1.8 wt% Zn. The slag silicate phases contain approximately 1.5 wt% Cu and 6.5 wt% Zn; therefore the Cu and Zn head grades due to chalcopyrite and sphalerite, are only 0.9 wt% Cu and 1.2 wt% Zn, respectively. The recovery of Cu in the Cu-concentrate (Cu-conc.) is only 77.5 %, whereas that of chalcopyrite is 89.2 %. Similarly, the recovery of Zn in the Zn-concentrate (Zn-conc.) is only 40.2 %, whereas that of sphalerite is 71.0 %. The slag accounts for approximately 60 % of the Cu, and 85 % of the Zn in the tailings. The main loss of chalcopyrite is as unliberated grains to the tailings, and the main loss of sphalerite is as free grains to the Cu-concentrate and as unliberated grains to the Cu-concentrate and tailings. Approximately 85 % of the chalcopyrite and sphalerite lost to the tailings. accounting for 8 % and 10 % of the respective minerals in the concentrator feed, occur as middling and sub-middling grains. Extremely fine regrinding would be required to liberate these minerals.

Jan 1, 1989

By K. J. R. Ford

"Significant advances in mining and metallurgical operations have occurred over the last two decades, to define ore bodies via geological mapping, mineralogical analyses, geostatistical models and resource reserve modeling. Metallurgical process measurement, controls and modeling have also significantly progressed, with advanced instrumentation, control software, data capture systems and simulation tools. This progress together with development of the science of geometallurgy has allowed geologists, mineralogists, miners and metallurgists to start working together to define geometallurgical ore units and link these to mine planning and projected metallurgical performance. However, application of full geometallurgical programs into existing mine-processing operations or into new “greenfield” projects has been slow. This is mainly due to higher costs, limited dedicated technical resources and little or no corporate leadership. Additionally, life-of-mine cash flow models, the “dollars”, have been largely driven by ore tonnage rates, pay-metal grades and fixed pay-metal percentage recoveries, with few or no geometallurgical parameters included.Here defined, the “electrons” represent intrinsic ore characteristics embracing chemical composition, mineralogy, gangue components and their associated fundamental metallurgical processing phenomena. With its ever expanding treasure chest of measurement and modeling tools, geometallurgy paints a much clearer picture of the “electrons” for the geologist and metallurgist. But to fully understand and realize the real net value of ores over the life of a mine, a comprehensive link of “electrons to the dollars” is essential. Intrinsic characteristics of geometallurgical ore units are by definition linked to their metallurgical processing, but importantly need also to be related to operating costs, capital requirements and revenue.This paper discusses this important linkage under topics of ore geology and mineralogy, metallurgical processing, waste disposal, environmental issues, metal refining, project engineering and lifeof- mine models. Topics are illustrated by multi-metal references and by case examples from gold ore heap leaching and manganese ore smelting projects. 1"

Jan 1, 2013

By Sebastian Ernst Volkmann, Felix Lehnen

"INTRODUCTIONWhile today’s mine planning of land-based ore deposits follows methods, which are well established, mining standards for the deep-sea have not established. Having gained a basic understanding of geological settings, there is still a lack of tools and methods to assess and plan future mining projects in the deep-sea. In the framework of the “Blue Mining” research project (2014-2018) technologies and methods for the exploration and exploitation of deep-sea minerals are developed that will bring deep-sea mining a step closer. The “Blue Mining” project receives funding from the European Commission (EC; Framework Programme 7; GA No. 604500) and addresses all aspects of the value chain in the field of deep-sea mining. The project philosophy is that deep-sea mining is planned and executed in the most responsible manner: Ensuring societal benefits and profitability at acceptable resource utilization and lowest possible environmental footprint (Volkmann 2014).Inspired by the high-tech farming industry, a concept to mine seafloor manganese nodules (SMnN) was developed. Mining is considered to be similar to the potato harvest on land (Figure 1), which involves mining a field partitioned into long, narrow strips (Volkmann and Lehnen 2017). The proposed mining system composes of one mining support vessel (MSV), one or two self-propelled, crawler-type seafloor mining tools SMT(s) and different types of underwater vehicles. The MSV follows the mining route of the SMT(s), picking up the about potato-sized nodules from the seafloor. The ore is pre-processed in situ and is lifted on board of the MSV, where the ore is dewatered and loaded onto bulk carriers for transport to the purchaser. Processing and refining of ore is not subject of “Blue Mining” research."

Jan 1, 2017

By Z. Smieszek, J. Botor, Z. Miczkowski, S. Sobierajski

"From 1978, the direct process for the smelting of chalcocite concentrates in a flash furnace by the Outokumpu method has been applied at the Glogów II copper smelter. The chemical composition of these concentrates make it necessary to control the process very strictly. In this paper, the method for controlling and measuring the main technological parameters of the copper production by flash smelting is being presented. It includes the determination of the chemical composition of the concentrate, its grain structure, the temperature of liquid products of the process, oxygen content in process gases, as well as lead concentration in copper and copper concentration in slag.The main process parameters are determined from the mass and energy balances. The relations between parameters, such as an effect of grain structure of a concentrate on oxygen and oil consumption, and dependence of chemical composition of a concentrate on capacity and products quality are discussed. 1. IntroductionThe Polish copper concentrates, as most concentrates occurring worldwide, contain from 18% to 30% Cu, and less sulphur (7-11%) and iron (2-5%). The main copper-bearing mineral contained in the concentrates is chalcocite, while bornite and chalcopyrite are present in smaller quantities. Moreover, the organic carbon (5-7.5%), arsenic (0.05-0.3%) and lead (1.2-3.0%) are also contained in the concentrates. The gangue consists mainly of silica, aluminosilicates, calcium carbonate and magnesium carbonate. Their proportions make the addition of slag-forming agents unnecessary.The composition of Polish concentrates, especially their low iron content, allows their application in the direct flash smelting process for blister copper production. Low sulphur content is the factor which determines the necessity of oxygen application in this process."

Jan 1, 1989

MINING and Metallurgy closed the year 1928 showing a small profit, the receipts, exclusive of the charge against members, dues for subscriptions, having been $43,067.81, and expenditures $40,925.58. In accord with the policy of the Board the budget is made each year with the purpose of balancing the accounts rather than the maximum of profit from the undertaking since it is the service the journal performs for members that justifies its existence. This service is being constantly increased. Within the year a number of changes have been made in the dress of the magazine, a new cover adopted, color more frequently used, and illustrations more generally employed. These changes seem to have been appreciated both by readers and advertisers. More space has been devoted to papers read before local sections and to the news of their activities. It is believed that this has helped materially in sustaining and increasing the interest in such meetings. The general, regional, and division meetings have also been fully reported and news of Board meetings, of the work of the various committees, of the employment service and other activities of the Institute has been spread before its members month by month. The 570 pages of reading matter printed in the course of the year constitute not only a record of what the Institute was doing but of what the most representative sections possible of the members of the mining and metallurgical professions were thinking. With 9000 members scattered around the world, occupying key positions in the industry, the Institute affords through its own journal an unsurpassed medium for broad contact and enables the readers with the minimum of expenditure of time and at no extra money expense to keep a general contact with the whole range of subjects touched by miners and metallurgists. In these days of intense specialization but rapid change such contact is particularly valuable. The more formal papers presented to the Institute are published in the Transactions, Technical Publications and the special volumes. Mining and Metallurgy carries abstracts of all papers published ,by the Institute and prints in full the shorter, less detailed papers and those which reflect work in progress rather than finished. Such papers have a news value which is supplemented by editorial comment, discussion by members and others, and the actual news of the organization itself. Without therefore attempting to fill the place of a general news sheet, it has a timeliness that gives it an immediate value much appreciated by the readers. In accord with the general policy of the Board every effort will be made constantly to improve the quality of the magazine to the full extent that its revenue will permit. Your Committee feels that, through the intelligent cooperation of the official staff in the office, Mining and Metallurgy has been improved in

Jan 1, 1929

By N. Musee, N. Kornelius

This study presents a neural network approach to modelling the liberation of gold bearing ores. A complete mineralogical analysis of unmilled and milled ores, including gold deportment and gangue content are used as inputs to a self-organising neural net which generates order preserving topological maps. The arrangement and shapes of these clusters are coupled to unmilled free gold data to predict gold liberation in milled ores (absolute error: 4.2%). Moreover, the self-organising maps were diagnostic of the quality of data used, indicating that the relationship between particle size and gangue material content requires further investigation.

Jan 1, 2005

By Ray W. Ballmer

Historically, Bingham is a rail pit, starting with steam locomotives in 1906 and converting to electric locomotives in 1923. Ore production was maintained through an effective utilization of available rail equipment. From time to time as it became necessary to deepen the pit and as stripping ratios increased, various studies were made on alternate material haulage systems. Utilization of diesel locomotives, conveyor belts, and trucks have all been subjects of study, however, conversion from rail haulage utilizing electric locomotives could not be justified. Because of the gradual decline in ore grade, a program was approved in 1963 to raise ore production to 108,000 tons per day. This was designed to return copper production to the 1950 level. Attainment of this production level by expansion of the rail system had definite limitations and built-in inflexibility. Track and trolley wire relocation causes shovel down time in excess of that required for normal maintenance. Instability of the dumps and the resulting additional track maintenance increases greatly as the volume of waste material to be handled daily expands.

Jan 1, 1965

By C. A. Pickles

Nickeliferous limonitic laterite ores contain considerable free moisture. In this research, the application of microwave radiation for the drying of this ore was investigated. The effects of sample mass, initial moisture content and porosity on the microwave drying rate were studied and the results were compared to those obtained with conventional drying. Microwave drying rates of two to three times the conventional values were achieved. Further enhancement of the microwave drying rate was realized by increasing the flow rate of air over the sample or by operating at reduced pressure. The high microwave drying rates were attributed to the inverted temperature gradient which resulted in internal heating and boiling and this in turn promoted movement of the water, both as liquid and vapour, to the surface.

Jan 1, 2005

By J. F. Archibald

This paper reviews the formation of the Canadian Mining Education Council (CMEC) and its terms of reference. CMEC considers that Canada?s mining schools represent a distinct competitive advantage to the Canadian Mining Industry. The core objective of CMEC is to reinforce the links between the constituent schools and their individual Industry Advisory Committees. The latter traditionally provide the schools with a great deal of guidance on a range of planning issues, including recruitment, curriculum, research and infrastructure. Beyond those bounds CMEC intends to improve its ability to network with the industry and government. It is concerned overall with the objective to raise the quality and level of its educational and research contributions to meet the needs of industry and society.

May 1, 2002

By Tian Tang, Sergio D. Felicelli

"The laser cladding is an important surface treatment for enhancing resistance against corrosion, abrasion, and wear. The focus of the present study is to develop a three dimensional finite element model to analyze the temperature history and thermal stress evolution during multi-pass laser cladding process on H13-H13 tool steel sample. A sequentially coupled thermal-stress analysis methodology was adopted in this study. The thermal model was firstly established to investigate the temperature history of the laser cladding process. Then the temperature history was used as input to mechanical model to calculate the thermal stress evolution during the process and the residual stress after the sample completely cooled down to room temperature. The influences of process parameters including the scanning speed and scanning strategies on temperature history, thermal stress evolution, and residual stress were investigated in details.IntroductionLaser cladding is an advanced material process technique, which is often used to improve mechanical properties or increase corrosion resistance, repair worn out parts, and fabricate metal matrix composites. In this process, the injected powder or wire feedstock material and a thin layer of substrate are melted and consolidated by use of a laser in order to coat part of a substrate or fabricate a near-net shape part.Numerous mathematical models have been established for analyzing the effects of process parameters, microstructure evolution, and thermo-mechanical behavior of laser cladding. Zhou et al. [1] established an analytical model to investigate the laser induction hybrid rapid cladding for Ni-based WC composite coatings. Huang et al. [2] also developed an analytical model to theoretically investigate the interaction between the laser beam and the powder stream of laser cladding process. A simple and realistic model of laser cladding was proposed by Picasso et al. [3]. The cladding layer is very sensitive to cracks due to the accumulation of residual stress, caused by non-uniform temperature changes, which have limited the wide application of laser cladding technique in industry. Recently, fmite element method has been increasingly used to simulate the laser cladding process [ 4-6]."

Jan 1, 2014

Lower workers' dust exposures during bag stacking while ergonomically improving the bag stacking process. Approach Install a new pallet loading dust control system which uses a push-pull ventilation technique along with a hydraulic lift table to control the pallet loading height throughout the entire loading cycle. How It Works A low-volume, high-velocity blower system operating at approximately at 120 cfm blows a stream of air over the top layer of bags on the pallet. The blower system is composed of two 3-inch air jets (approximately 1,200-ft/min velocity) directed toward an exhaust system on the opposite side of the pallet. As these air jets travel across the pallet, they en-train dust generated during bag stacking. The dust laden air is then captured by the exhaust ventilation system which draws approximately 2,500 cfm through an exhaust hood on the opposite side of the pallet.

Jan 1, 1989

By W. J. Wright

Summary Statement The following notes on the geology of the Grand Lake coalfield are intended to be introductory to a second paper being read at this meeting, which paper will describe the earlier and the more modern mining methods. The coal industry of the Grand Lake coalfield is centred chiefly within a three-mile radius of Minto, but minor operations are dotted over an area of approximately 50 square miles extending easterly to the vicinity of Chipman and Coal Creek (see Figure 1). The coal comes from one seam of Pennsylvanian age. The seam varies in thickness from 16 to 30 inches and lies almost horizontal at depths of 0 to 125 feet. It has been mined and prospected over an area of approximately 150 square miles, but in a portion of this area the commercial possibilities have been destroyed by erosion. The industry is the oldest of its kind in North America, but it did not at tract particular publicity until about 1914. Since that date, mining methods have improved and the output has rapidly increased until, in 1934, it amounted to 271,335 long tons, and furnished employment for about 1,000 men (1). Approximately 73 percent of this amount was produced by the Minto Coal Company, the Miramichi Lumber Company, the Avon Coal Company, and Welton and Henderson, and 25 per cent by the Rothwell Coal Company, Harvey Welton Limited, G. H. King, the Reade Construction Company, and the Newcastle Coal Company. The remainder was produced by J. W. Carter, G. D. Crossman, T. H. Swift, C. S. Yeamans, and several other small operators. The coal is won by underground mining, except in the case of the Reade Construction Company, and a minor operation by Ashfield and Pieton, who have employed open stripping. It is mined only as required to fill definite orders, and is loaded directly into cars for shipment. In 1934, the larger mines did not operate full time, and the production could easily have been increased if markets had been available. The coal is sold in four grades: screened or lump, run of mine, slack, and stripping. The chief market is with the railways and commercial plants, with a fair amount for domestic purposes.

Jan 1, 1935

By Tatyana A. Ivanova, Tamara N. Matveyeva, Anatoliy A. Fedorov, Tatyana V. Nedosekina, Valentin A. Chanturiya

An ingenious methodology purposively developed by the authors for comprehensive assessment of flotation properties, electrophysical characteristics and. crystal chemistry features of natural gold-bearing sulfide minerals of different origin has been used in this study. Examination of the elemental composition of the minerals, ion-molecular components of the liquid phase in suspensions, surface properties of sulfides and different flotation reagents sorption forms was performed using the methods of X-ray phase and spectral analysis, potentiometry, UV and IR spectrometry, computer image analysis, and computer simulation techniques. The role of isomorphous impurities in the formation of hydrophobic sulfhydric collector layers on mineral surfaces in complex ore processing has been elucidated. The parameters characterizing the variability of the Fe:S ratio in pyrite of different origin have been determined based on non-stoichiometry characteristics of natural gold-bearing sulfide crystals. An ingenious method of formatting and linear approximation of experimental data was used to find out the quantitative relationships between the impurity content, electrophysical characteristics, non-stoichiometry and floatability of pyrite from a number of different deposits. The effect of the impurity species present in sulfides on the characteristic pH value marking the floatability peaks as such and their trend of shift towards higher alkalinity has been revealed. A theoretical substantiation has been given to prognostic assessment criteria for processing characteristics of gold-bearing sulfide minerals with varying composition. New flotation reagents and advanced reagent systems which help to increase the contrast of processing characteristics for different gold-bearing sulfides, resulting in improved selectivity, have been developed. The mechanism of selective flotation of precious metal-bearing Fe and As sulfides achieved by using short-chain dithiocarbamates and a mixture of cyclic trithiocarbonate with oxyalkylsulfides has been analyzed.

Jan 1, 2003

By Richard D. Mills

Throughout the mining industry, many companies perform sophisticated business and financial analyses of proposed capital investments. However, once the project is approved, it is never reevaluated. At best, there is an attempt to control capital costs and minimize overruns. The post-installation appraisal, a formalized review of investment performance, may prove helpful. Typical Project Review A typical capital investment is approved after business and financial benefits have been reviewed with management.* The financial data shown to management often include a net income statement, cash flow analysis and summary economic data similar to those shown in Table 1 overleaf. These financials report the expected impact of the project on the corporation financial statements. This project is a rudimentary example of a capital investment decision. An actual project would undergo a more sophisticated analysis incorporating depletion benefits, deferred taxes and a detailed cost breakdown. The example project has several financial benefits that could result in management approval. For example, it provides an immediate net income benefit to the company, generates positive cash flows every year of the project life and has a discounted cash flow rate of return of 25 percent. However, it also has the disadvantage of a long payback period. A sensitivity analysis would show which areas of the analysis have the greatest impacts on profitability. Post-Installation Program Objectives The post-installation appraisal goes beyond the analysis shown in Table 1 by comparing actual results to those projected in the original economic analysis. The post-installation program has three primary objectives: 1. To provide a periodic performance review of major spending programs. 2. To review decision-making and evaluation procedures. 3. To provide a means of controlling individual project investments. The first major function of the post-installation program is the periodic review of actual performance of projects and investment programs, identifying those factors which proved critical to the health of investments. This review will serve to keep management abreast of progress, provide a comparison of actual performance against expectations, and provide valuable information that can be used for improving future economics. The second major function of the program is to perform a continuous review of the decision-making process. This includes testing of evaluation procedures, forecasting techniques, and logic used in making decisions. An information system should be set up whereby original evaluations and historical performance data gathered under the appraisal program are documented for use by evaluators and management when assessing past and future investment proposals. Such data should be particularly useful in evaluating new and developing types of operations and in activities where companies repeatedly reinvest. The primary purpose of this feedback system is to sharpen estimates to assure that they are realistic and attainable. The appraisal program also provides assurance that consistent evaluation procedures are being used throughout a company, leading to improved procedures

Jan 1, 1985