Search Documents

By D. T. Jr. Tarr

History of Development The hydrocyclone, probably because of its basic simplicity, has been used for various classification applications since before 1890. A patent was granted in the United States in 1891 to Bretney on a device for separating sand from water, collecting the sand in a closed chamber for intermittent discharge, practically identical to some present-day water desanding cyclones. Between 1900 and 1937 there were 30 or more additional patents issued on liquid cyclone configurations or their use. About 1937 liquid cyclones began to be used commercially in the treatment of cellulose fiber in the pulp and paper industry separating contaminating particles from the fiber in water suspension used for making high grade paper products. Nichols Engineering & Research Corp. of New York was marketing a liquid cyclone for cleaning sand and din particles from fiber suspensions in the pulp and paper industry by 1937. The designs during this period were such that the cyclones discharged a small amount of relatively high density material into a chamber connected to the cyclone apex which in turn discharged the collected dirt material intermittently. By the early 1940s hydrocyclones as we know them today began to appear both in the pulp and paper industry and in coal prorzssing.18 Considerable experimental work was done on small, mostly 3-in.- diam, cyclones operating at relatively high pressure drops, in the range of 50 psi, to remove very small contaminating particles from cellulose fiber in the production of high-grade writing papers in the paper industry.18

Jan 1, 1985

By Simon Houlding

"The objective of Part J of this paper is to identify the limitations of the traditional modelling methods and to illustrate, by example, the potential for error created by their application to complex deposits and mining situations. Part 2 describes the evolution of new, proven technology which eliminates these deficiencies and provides precise and practical alternatives. These promote the use of realistic geological and mining shapes and eliminate altogether the rectangular approximations of traditional methods.The Case for Precision ModellingIt is not the intent of this paper to promote the benefits of computer modelling per se. It is assumed that these are recognized by the mining industry in general. The concern of Part 1 is to identify, qualify and quantify (where possible) the limitations of the tractitional modelling methods. In many instances these methods continue to be applied to complex geological and mining situations for which they were never intended nor designed. The source and magnitude of the resulting errors, conflicts and inefficiencies are not always obvious, however, they can have far-reaching effects on the efficiency and profitability of mining operations.The conclusions support a rapidly growing demand by industry for practical, precise modelling technology which eliminates the deficiencies and can be applied with confidence to evaluation, design, planning and control of mine production in all situations. Part 2 describes new technology which has evolved in response to these industry pressures and has already been successfully applied to complex mining situations. This new technology can aptly be described as appropriate technology for the 1990s."

Jan 1, 1991

By Alden Greninger

THAT metallographic structures analogous to the martensite of steel may be found in certain copper-aluminum and copper-tin alloys has been known for many years; similar structures recently were found in certain copper-zinc alloys.1 In all three of these alloy systems the martensite structures result from transformation of the metastable ß phase when the speed of cooling from the ß range is sufficiently high to suppress decomposition into equilibrium phases. ? In the normal decomposition of solid solutions into equilibrium phases, diffusion is needed to bring about the necessary changes in concentration, and the rate of reaction falls almost to zero at temperatures slightly above room temperature. The rates of reaction for martensite processes, however, are not dependent upon temperature; the transformation does not require readjustments of concentration. For example, the marten-site transformation in 60:40 (ß) copper-zinc does not begin until the temperature has dropped to about minus 30° C., and then continues down to minus 130° C. and probably even at lower temperatures.1 Further-more, martensite processes apparently proceed only while the tempera-ture is falling, within the proper range, and cease completely while the temperature is held constant; ? and they cannot be suppressed by extremely rapid cooling although the rate of cooling for some alloys may be increased to over 10,000 times the critical cooling velocity. Isaitschew, Kaminsky and Kurdjumow2 account for these observed behaviors of martensite processes by postulating that the mechanism " . . . consists in a regular rearrangement of the lattice in such a way

Jan 1, 1939

By E. P. Polushkin

This work has for its purpose the establishment of a new method for determining the structural composition of alloys. The area occupied by a constituent on a few representative photomicrographs of the alloy is measured, by a planimeter, especially designed for metallographic work, and the volume and proportional weight of the constituent calculated. Experiments have shown that the results are accurate enough to justify the application of the method to many problems in metallographic research instead of chemical analysis. The advantage of the method is the possibility of determining the amount of the constituents without separating them from the alloy; their composition may also be determined if the ultimate chemical analysis of the alloy is known. Suppose Fig. 1 represents a part of a photomicrograph on which the total area of the black figures is to be found. By a system of parallel lines drawn short equal distances apart all figures may be divided into trapezoids. As the area of a trapezoid is equal to its median multiplied by its altitude, the relation between the total areas of the black and the white figures comprised within each strip is equal to the relation between the sums of medians for these figures respectively. This is also true for the whole area of the photomicrograph. Therefore, to determine the total areas of the black and white figures we must first find the proportion between the sums of the medians and then divide the area of the whole photomicrograph in the same proportion.

Jan 1, 1925

Application of technology to the search for new deposits went on apace in 1963. Traditional methods, aided by modern communications, were successful in some out-of-the way corners of the world that had not been adequately prospected, but the co-ordination of several mutually supporting techniques is necessary to define exploration targets in most areas today. Although these obviously include geophysics and geochemistry, which are treated elsewhere in this issue, geology continues to play a major role. As the search focuses on less and less obvious targets there will be more need than ever to "pull out all the stops." Any anomaly may have significance and must be evaluated as a possible lead. Ability to detect them increases as the laboratory workers refine techniques for measuring physical, chemical, and isotopic properties; it will be increasingly the responsibility of the exploration geologist to understand and apply these to economic problems. Simple propecting, the search for outcrops of recognizable ores of traditional types, was perhaps most successful for iron. Potentially large deposits of high-grade magnetite-specularite-hematite ore have been found in the Mary River area near the north end of Baffin Island. The ore holds up four hills that stand some 1500 ft above the surrounding country; obviously they were ripe for discovery by the first person to come across them, in this case Murray Watts, president of British Ungava Explorations, Ltd, As preliminary examination indicates a lump ore averaging 68 to 70% iron, these deposits may be commercial in spite of the unfavorable climate and their isolation from world markets.

Jan 2, 1964

By Y. Wang, J. D. Miller, C. L. Lin, Virginia Tech

Conventional flotation machines are typically limited to a particle topsize of 150-200 microns due to inherent constraints created by the pulp and froth phases. To overcome these limitations, a novel fluidized-bed flotation system called the HydroFloatTM Separator has been developed specifically for the purpose of floating coarse particles containing only small amounts of exposed hydrophobic minerals. Over the last decade, this technology has been successfully applied to industrial minerals with several full-scale units installed to recover particles up to and exceeding 3,000 microns diameter. More recently, sulfidebased test work has shown that this novel device is also capable of recovering metalliferous values at a grind size that is much coarser than currently used in industrial concentrators. In the current study, high resolution X-ray microtomography (HRXMT) was used to experimentally compare the degree of exposed grain surface area necessary to recover coarse particles using the HydroFloatTM technology to that attainable using a traditional mechanical flotation cell. The data indicate that exposed grain surface area is a critical factor for coarse particle flotation. For the gold-bearing sulfide ore examined in this study, the HRXMT data suggest that near complete recoveries of coarse (850x500 µm) multiphase particles containing as little as 1% exposed grain surface area were realistically attainable using the HydroFloatTM technology. As such, this new technology may offer a unique opportunity for increasing concentrator capacity by increasing the primary grind size needed for rougher/scavenger separations.

Jan 1, 2016

By Hermann Wedding

It is now fourteen years since we German ironmasters, in considerable number, visited the United States on the occasion of the Philadelphia Exposition, and found the iron metallurgy of this country, as must be frankly confessed, in an advanced stage of development not previously suspected by us. At that time the United States already occupied, as now, the second rank, with Germany in the third, the product of pig-iron for that year being, in Great Britain, 6550, in this country, 2093, and in Germany, 1850 kilotons.* This relative position has not been changed. The present annual product of the three countries is, in round numbers, Great Britain, 8380, the United States, 7790, and Germany, 4530 kilotons. But the proportion of the United States, which was, in 1876, but 15 per cent. of the world's product, has now advanced to 30 per cent. When we left America in 1876, it was not only with gratitude for cordial hospitality and for the liberality with which our professional colleagues here had opened to our inspection whatever was worthy of notice in our special field, but also with the conviction that we had collected a great treasure of new and interesting information which we could utilize for the benefit of our German Fatherland. Particularly the achievements of the never-to-be-forgotten Holley in the field of Bessemer practice, set us an inspiring example for imitation in our own country. As an expression of our thanks in more practical fashion, I attempt in this paper to sketch what we have done in Germany since

Jan 1, 1891

By K. N. Panigrahi

India bestowed with 6000km of the coastal belt, contains some of the richest and largest placer deposits with a mixture of heavy minerals like ilmenite, rutile, leucoxene, zircon, monazite, sillimanite and garnet. Each of the minerals is having economic value due to its inherent characteristics for industrial use in fields of paints, metallurgy, refractory, abrasive and so on. The reserves of titanium bearing minerals (ilmenite, leucoxene, and rutile) in the country is around 378 million tonnes. More than 90% of the titanium based minerals produced worldwide are utilised for making value added products in the pigment industries. Approximately 8 million tonnes of monazite reserves are available in the country from which several rare earth elements like cerium, neodymium, lanthanum, yttrium etc. can be extracted for use in several industries. The country contains a deposit of about 20 million tonnes of zircon, which is used in foundries, refractories, ceramics and chemicals. India has a reserve of 107 million tonnes of garnet and 131 million tonnes of sillimanite required for the abrasive and refractory industries respectively. Keeping in view the multifarious uses, the beach sand minerals are being exploited to have the economic growth of the nation. Although the process adopted for the separations are simple, the equipment involved are specially designed because of the nature of the material of construction. Starting from the spirals to magnetic separators, all equipments are manufactured outside India, which is not only costly, but the availability also takes much time for fulfilling the import formalities. Unlike open cast mining, beach sand mining is a environment friendly mining because dredging is implemented to cut and pump the loose sand through a slurry pump causing less damage to the surface topography as both mining and backfilling takes place simultaneously. Therefore all out efforts are made to explore the beach sand placer deposits in an economic manner to emerge as a leader in the global mineral industries.

Jan 1, 2005

By C. R. Lattanzi, M. J. Davie, L. D. Smith, J. R. Goode

"The feasibility study determines the technical and economic viability of a project at the level of accuracy required by the owner to make an investment decision. The economic analysis usually includes calculation of the discounted cash flow. Key components of the cash flow include the project capital cost, the operating costs, construction schedule, production rate, product prices and financial details.This paper examines the feasibility study for a typical mining project. The paper discusses acceptable methods for the determination of the geological and mineable are reserves. The prerequisites for the development of suitable designs, and the calculation of capital and operating costs for the mine, processing plant, and infrastructure are reviewed. Important features of the cash flow analysis and its interpretation are presented.IntroductionThe commercial development of a mineral deposit invariably requires the investment of capital in preparing the deposit for production. It has always been necessary, therefore, to demonstrate to the investor of capital that production of a saleable commodity is both technically feasible and economically viable. The instrument typically used to make these determinations is the feasibility study .Traditionally, mining companies have been rather conservative in their approach to financial management. Until about thirty years ago, the capital required to develop a new mine was most frequently provided by internal corporate cash now and virtually all of the necessary technical and economic studies were performed 'in house'. Under these circumstances, there was little standardization as to what constituted an acceptable feasibility study, and even less as to what constituted an acceptable measure of economic viability."

Jan 1, 1991

By D O’Dea, B Godel, T Honeyands, G Evans, T Harvey

The pores within iron ore sinter are important for producing a high quality material that is strong and easily reduced. The complementary methods of mercury intrusion porosimetry (MIP) and X-ray computed tomography (CT) were used to characterise the structure of industrial and pilot scales sinters across a wide range of pore sizes (3 nm to 100 µm for MIP and 50 µm to 5 mm for CT). The inhomogeneous nature of sinter and the variation in the measurements make it difficult to compare samples. The generalised additive modelling (GAM) approach, using the open source statistical software package, R, has been applied to highlight where there are peaks in the concentration of pore sizes. Importantly, the shape of the GAM-fitted function and the heights of the peaks show statistically significant differences between samples. For the samples investigated, the GAM-fitted functions for the MIP volume distribution of pore diameters were found to have a common set of distinctive peaks at 0.005, 0.6 and 20 µm. The GAM approach was also applied to the X-ray CT measured pore wall thickness, highlighting a single peak whose position varies between samples. The cause of these distinctive peaks and their implications for sinter quality are discussed. Correlation was found between the volume in peak 1 (0.005 µm) and the concentration of primary hematite. No correlation was found between the pore wall thickness and the strength of the sinter, suggesting the composition of the pore walls may be more important. Future work will focus on small-scale sinters produced under tightly controlled conditions to study sinters with a wider range of quality values.CITATION:Harvey, T, O’Dea, D, Evans, G, Godel, B and Honeyands, T, 2017. Highlighting key features of the pore structure of iron ore sinter using mercury intrusion porosimetry and X-ray computed tomography, in Proceedings Iron Ore 2017, pp 39–48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By G. J. Joy

Although rates of pneumoconiosis in coal miners have declined substantially in the United States since the passage of the Federal Coal Mine Health and Safety Act of 1969, new cases continue to occur, including cases of rapidly progressive disease. In contrast, Australia?s underground coal mining industry has reported few new cases of pneumoconiosis for over twenty years. Mortality from Coal Workers? Pneumoconiosis in official health statistics and the prevalence of pneumoconiosis among miners screened in x-ray surveillance programs are also lower in Australia. To understand this disparity, the National Institute for Occupational Safety and Health was requested by both industry and labor stakeholders to examine this issue, with the ultimate aim of reducing the rate of pneumoconiosis among United States coal miners. A number of factors, including coal dust exposure, silica exposure, and coal rank were examined as potential contributors to the above observed differences. Comparison of coal rank data from each country did not show any significant differences. Air sample data from the coal mining industries in both countries show that coal dust levels in Australian mines are somewhat higher than those reported in similar U.S. mines; however, quartz exposure for Australian miners is lower than for many U.S. miners. Assuming that quartz is contributing to the greater number of cases of advanced pneumoconiosis in the U.S., more effective dust control measures, as well an independent exposure standard for respirable quartz in coal mining, need to be implemented to prevent this potentially disabling condition.

Jan 1, 2011

By John Parianos

2013 has seen good progress for Nautilus Minerals and our projects due to the determination of our people and the continued support from shareholders and stakeholders. Our focus remains Solwara 1 in Papua New Guinea for which the build continues on the seafloor production tools, subsea slurry pump and riser and lifting system.

Sep 14, 2011

By M I. Pownceby, N A. S Webster, R Pattel, N Ware

The decrease in quality of Australian iron ore, coupled with the demand for more efficient energy use, necessitates closer monitoring and optimisation of process conditions for iron ore sinter production. Sinter properties are correlated with the mineralogical content and traditionally, quality control has relied on methods such as Fe2+ determination, point counting via optical microscopy and automated electron beam techniques such as QEMSCAN; these can have a typical turnaround time of several days between sampling and reporting of results. As well, there is additional uncertainty around quantifying some of the complex mineralogical phases in sinter such as silico-ferrite of calcium and aluminium (SFCA) and SFCA-I, which are key phases influencing sinter quality. There is a clear need for the implementation of alternative analytical methodologies that offer a turnaround in hours or even minutes to provide information to accurately maintain production conditions.X-ray diffraction (XRD) is a technique widely used for the quantitative mineralogical phase analysis (QPA) of ores and processed materials in the iron ore industry. Partial least squares regression (PLSR) analysis methods have recently been suggested as an indicator of sinter Fe2+ content from powder XRD data without the need for rigorous and often time-consuming mineralogical analysis by the operator. In this study we provide results from the implementation of PLSR to predict the strength of iron ore sinter. Results are sourced from a well-constrained data set comprising strength properties (as quantified by a tumble index (TI)) from a series of compact laboratory test samples. Using this data set it was determined that PLSR has potential to be used as a method for calculation of sinter TI from powder XRD data and, therefore, process control.CITATION:Webster, N A S, Pownceby, M I, Ware, N and Pattel, R, 2017. Predicting iron ore sinter strength through X-ray diffraction analysis, in Proceedings Iron Ore 2017, pp 331–334 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By S. Klingmann, G. Blackwell

"Terrestrial photogrammetry has been used for many years to build three-dimensional pictures for analytical purposes. Photographs can include images from open pit mine walls, ground topography, mine buildings infrastructure or accident scenes. Analysis and co-ordinate estimation in early photogrammetric systems demanded the use of specialized and costly optical-mechanical stereocomparators. Few of these instruments could be interfaced with computers to provide databases, and all required trained personnel with good perspective vision to collect data.Digital photogrammetric software has replaced these older systems, and the digital video plotter (DVP) is a simple computerized system utilizing readily available PCs to quickly produce a stereoscopic model of any scene where an area of overlap exists in photographs taken from two different locations. Specialized cameras providing reference marks or grids on the photographs are still necessary for detailed analysis in three dimensions.This paper describes the application of DVP to the three-dimensional analysis of strike, dip and location of dominant fracture planes visible on an open pit wall slope, and the intersection of planar features which might reduce wall stability. Where reference survey points cannot be provided because access by personnel to the photographic scene is impossible for safety reasons, normal case terrestrial photogrammetry can provide the necessary control points for more complex aerial photogrammetry geometries.DVP recreates the geometry existing at the moment photographs are taken, providing the user with the ability to safely recreate, compare and analyze the structures determining the stability of open pit wall slopes."

Jan 1, 2003

By W. G. Pariseau

This contribution describes rock mechanics features of the Davis Cavern at the former Homestake Mine in Lead, South Dakota, U.S.A. The mine is located in the northern Black Hills of South Dakota. In 2003 and again in 2008, the mine site was recommended for development as a national Deep Underground Science and Engineering Laboratory (DUSEL) in cooperation with the Sanford Underground Science and Engineering Laboratory under the South Dakota Science and Technology Authority (SDSTA). The original Davis Cavern was excavated about 9.1x16.8x9.7 m high (30x55x32 ft high) in 1965 (Mitchell 2009) at a depth of 1,478 m (4850 ft). The purpose of the cavern was to house apparatus for detecting solar neutrinos. The experiment ultimately proved successful and earned R. Davis a share of the 2002 Nobel Prize in physics. Recently, a new experiment (LUX=Large Underground Xenon detector for dark matter particles and WIMP's=weakly interacting massive particles) was proposed for the Davis Cavern that required an increase in height of 2.4 m (8 ft). For many years, the Homestake gold mine was the deepest operating mine in North America. Development extended to the 8000 Level (2,438 m). The mine closed in 2003. Pumps were shut off and the water level rose to the 4350 Level, about 150 m (500 ft) above the Davis Cavern. Some six years later after selection for DUSEL proposal development by the National Science Foundation (NSF), access to the 4850 Level and the Davis Cavern was regained. Pumping has lowered the water level to well below the cavern floor. Figure 1 shows the layout and location of the Davis Cavern (Cavity). Detector tank, supporting steel, and so forth were subsequently removed. The cavern was re-supported and new access was developed. By August, 2010, 13,000 ft3 had been removed during enlargement and renovation of the Davis Cavern. Figure 2 shows the detector tank under construction in 1965.

Jan 1, 2012

By K. L. Cashdollar, C. K. Man, J. R. Gibbins

Oxyfuel combustion is currently one of the principal technological options being considered for capturing carbon dioxide from pulverised coal power plants. In oxyfuel combustion, coal is burnt in a mixture of recycled flue gases and added oxygen instead of in air. In principle this yields a flue gas containing only carbon dioxide, water vapour and small amounts other impurities. Oxyfuel combustion is superficially similar to combustion in air, but there are inevitable differences. This paper describes ignition tests on pulverised coal suspensions using a suite of coals of different rank and from different countries of origin and over a range of oxygen and coal concentrations of interest for oxyfuel combustion. The ignition tests were carried out using the National Institute for Occupational Safety and Health (NIOSH) 20-litre explosion chamber. The purpose was to determine how easily the various coals ignite and burn in mixtures of O2 and CO2 compared to their combustion in air. The residual char volatile and ash contents for the ignition residues were measured using a thermogravimetric analyser (TGA), allowing Q factors (i.e., enhancement in apparent volatile yield due to higher heating rates and/or heterogeneous reactions) to be determined and compared. An ignition index has been derived from the explosion and char data. This index has been used to rank low volatile coals for ignition propensity in air. The results show that to obtain ignition and combustion comparable to that in air, the oxyfuel O2-CO2 gas mixture must contain over 30% O2. Keywords: CO2 capture, combustion, pyrolysis, oxyfuel.

By D N. B Skinner, R L. Brathwaite, M S. Rattenbury

The Institute of Geological and Nuclear Sciences Ltd has carried out a mineral resource assessment of the Coromandel region, one of the most mineral-rich regions of New Zealand. The assessment focussed on metallic minerals and clays, because these are the main commodities that have potential for increased production and export from the region (and from New Zealand).   Three steps were used in the assessment: 1) development of mineral deposit models, 2) comparison of the models with regional geology, structure, geochemistry and past mineral production to estimate the number of undiscovered mineral deposits, and 3) application of grade-tonnage models to determine the quantity and value of the known and undiscovered resources. In step 1, descriptive and grade-tonnage mineral deposit models were developed for 11 different types of mineral deposits: ò     Low-sulphidation andesite-hosted epithermal Au-Ag ò     Low-sulphidation rhyolite-hosted epithermal Au-Ag ò     High-sulphidation quartz-alunite epithermal Au ò     Porphyry Cu-Au-Mo ò     Andesite-hosted polymetallic veins adjacent to mineralised porphyry stocks ò     Zn-Pb-Ag skarn ò     Cu-Ag skarn ò     Hot spring Hg ò     Shoreline placer Ti ò     Rhyolite-hosted halloysite clay ò     Volcanic-related kaolinite clay   Step 2 was aided by a geographic information system (GIS) assembled from a number of digital spatial data sets including: a digital elevation model, an aeromagnetic map (from open file mining company data), a geological map (from the GNS QMAP project), location of areas of hydrothermal alteration, locations of mineral deposits (from the GERM database), stream sediment geochemical analyses (from the REGCHEM database), and a lineament map derived from satellite remote sensing data and the digital elevation model.   Based on May 2001 commodity prices, potential resources estimated for the 11 mineral deposit and grade-tonnage models total NZ$22 806 million for the metallic minerals, NZ$1000 million for halloysite clay deposits and NZ$57 million for kaolinite clay deposits.

Jan 1, 2001

The mining industry continues to be a major driver of the Australian economy generating over A$130 billion in export earnings in 2008/2009. However, the industry has been cited as a significant contributor to green house gas emissions. Australia's proposed carbon trading scheme, the Carbon Pollution Reduction Scheme (CPRS) will financially impact on mining operations; this calls for a holistic planning approach for mining operations taking into account the impact of the emissions trading scheme. Since carbon trading is a new area of study, particularly within Australia, the quantitative effect of the CPRS on the mining industry is uncertain and current mine planning practices do not directly consider emissions. This paper presents results of the study into the impact of the CPRS on a hypothetical large scale open pit operation, using a spreadsheet model based on linear programming and simulation. By varying the production rates, life of mine (LOM), carbon price and ore grades among other variables several scenarios were simulated to determine the impact of emissions trading scheme on the net present value of the project. This study found that the adoption of the proposed Carbon Pollution Reduction Scheme could impact mining operations in Australia by a three per cent to six per cent reduction in net present value, for carbon credit costs of $25/t to $50/t respectively. While the six per cent reduction in net present value for a mining operation is significant, rising fuel prices have had a similar effect in recent years. The most energy-intensive processes are the milling circuit and the flotation concentrator circuit. These processes are jointly responsible for up to 60 per cent of the total emissions, depending on the production rate and the level of offshore processing conducted. Clearly, the introduction of the CPRS makes it is imperative for mining companies to assess the impact of carbon emissions on a mining project during mine planning.

Dec 6, 2010

By Leonel Lopez

Throughout Mexican history, mining has been an important, traditional activity. Before the "Discovery of America," native miners worked a variety of deposits throughout the country, including Mixtec gold and gem mines in Oaxaca State and Aztec gold, silver and copper from mines in Michoacán. The 500th anniversary of Mining in Mexico after the "Discovery of America" was initiated by the Mexican mining sector on April 15, 1991. As early as 1548, when the Guanajuato mining district was discovered, Mexico had become a leading world producer of precious metals. Since then, Mexican mineral production has developed in cycles, responding to changing technological, economic and political conditions. During the 20th century, Mexican mine output reached its peak in the decades of the 1930s and 1940s, when it was producing about 40% of the world's silver, 15% of its lead, 10% of its zinc, 4% of its copper and 3.5% of its gold. In 1990, by way of contrast, these percentages of world output stood at 13.5% for silver, 4.7% for lead, 4.1% for zinc, 3.2% for copper, and 0.43% for gold. The lowest production levels were recorded during the 1960s and 1970s, when Mexicanization of the industry and increasing state controls weakened mineral economics to a point that mineral exploration budgets were sharply reduced or eliminated, along with the industry's future. Only the noble old mining districts continued to supply production, with occasional eruptions of "bonanzas" and new extensions in established mining districts.

Jan 1, 1994

By T. R. Ellis

A number of important international events took place in 2001 in the development and evolution of mineral valuation standards internationally. In Canada, the CIMVal Committee released a draft discussion paper for public and industry comment on principles to guide the development of the planned Canadian mineral property valuation standard. The International Accounting Standards Board (IASB) received comments on its Extractive Industries Issues Paper. IASB will decide whether the financial statements of public mining and petroleum companies will be allowed to provide the value of mineral and petroleum assets on a current value basis instead of an historic cost basis. The author led the Extractive Industries Task Force of the International Valuation Standards Committee (IVSC) in developing its submission to IASB. IVSC intends to develop an extractive industries valuation section for its International Valuation Standards, which could support the planned IASB standard. In Australia, AusIMM has carried out an in-depth review of its highly regarded VALMIN Code. The AusIMM's MICA subdivision organized the VALMIN ‘01 Conference in Sydney, Australia, with a range of international and current issues papers published in the VALMIN ‘01 book. Considerable support for the IVSC initiative was evident at this conference. The results of the review of the extractive industries submissions to the IASB are expected to be released in early 2002. The CMMI Congress in Cairns, Australia in May 2002 is likely to prove to be an important forum for continued discussion of the development and implementation of international standards and qualifications for mineral valuation. The outcomes and implications of these events are discussed.

Jan 1, 2002