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Discussion of the papers with a written contribution and authors' written replies.

Jan 1, 1947

By Dorothy Walters

As an increase in the number of producers alters fact ors affecting supply, long-term prospects in traditional markets for many minerals weaken. At the same time, conflicts between national and international objectives undermine existing competitive elements in mineral markets and Canadian costs escalate. Such changes may dramatically alter the environment in which the mining industry operates.

Jan 1, 1979

By F. L. Pirkle, W. C. Bagby

The International Mineral Valuation (IMVAL) Committee, founded in 2012, develops strategies for conducting mineral valuations. These strategies have been developed into a mineral asset valuation template called the International Mineral Property Valuation Standards Template and is part of IMVAL's work to establish consistent international standards for mineral property valuation and reporting. This template is a living document that is updated from time to time and is based on three core values or pillars (Fundamental Principles): Competence, Materiality, and Transparency. Objectivity, Independence, and Reasonableness may be applied as required by national codes or standards. The Template harmonizes international standards for valuation of mineral assets as real property and represents a consensus of current good practices. It is not a stand-alone reporting code and does not supersede existing national reporting standards. The Template deals with mineral-property valuation as distinct from mineral-project evaluation. INTRODUCTION In his 1989 book, “The New Realities”, Peter F. Drucker, Clark Professor of Social Science at Claremont Graduate School, California, stated: “Information is data endowed with relevance and purpose. Converting data into information thus requires knowledge. And knowledge, by definition, is specialized.” (p. 209) The discipline of mineral valuation is knowledge-based and requires a mineral valuer to collect, analyze, and interpret data that are material to a mineral valuation assignment. In so doing, the valuer turns the data into information (data come first, followed by information as determined by the mineral valuer) for use by the client (from whom the valuer obtained the mineral valuation assignment) and other intended users. The valuer uses his or her experience and education (each valuer’s knowledge base) supported by a foundation built upon competency, materiality, and transparency, the three pillars of mineral valuation (“minerals valuation”, “mineral-property valuation”). The International Mineral Valuation Standards Template (“IMVAL Template”, IMVAL”, “Template”), third edition dated May 2018, defines mineral valuation as: “The estimation of the Value of a Mineral Property in money or monetary equivalent. The word ‘valuation’ can be used to refer to the estimated value (the Valuation conclusion) or to refer to the preparation of the estimated Value (the act of valuing).” (p. 14) Furthermore, the IMVAL Template clearly separates valuation from evaluation: “The Template deals with Valuation, which is distinct from Evaluation. The distinction inherent in these defined terms is that Valuation addresses the estimation of value of a Mineral Property, whereas Evaluation addresses the broader assessment of a Mineral Property for an investment decision.” (p. 2)

Jan 1, 2019

By O C. Aitken

Mining project developers are committed to taking on all the challenges and obligations of financial risk management. It is interesting that our current models of project finance have not changed markedly in principle for some 700 years, yet the rules which prepare the way for effective project assessment and subsequent loan management still do not seem to be well understood by project or corporate developers. Probability and gravity fill the opposing trays of the golden balance of financial risk. Understanding the relationship between these opposing, but intimately related elements is critically important for successful risk management. It is important to move beyond the qualitative approach and use quantitative methodologies to measure the financial impact of the occurrence of each major risk. We live in a world where the only constant is change and thus it is not surprising that a bankerÆs life is still governed by assessing, measuring and pricing risk. Banks are attracted to funding well managed companies with strong cash flow projects. But we are more risk averse compared with the credit appetites of late last century. This attitudinal shift has resulted in tougher term sheets for the early 21st century, encompassing more conditions, warranties, undertakings and stronger cash sweep provisions. Banks require well balanced portfolios to achieve an acceptable spread of risk, thus there is a more restricted market for small company lending than that available to large multi-project corporate entities with less concentrated risk profiles. Because of this focus, junior company debt finance remains comparatively expensive and especially so for more challenging geographical and political environments.

Jan 1, 2004

By K. G. Chipman

THE discussion on Dr. Chipman's paper, Mapping by the Topographical Survey, centred mainly on the urgent need for aerial photographic reconnaissance of unmapped portions of the country as an initial phase in the provision of suitable topographical maps for use as a guide in geological mapping, prospecting, exploration, and development work in the areas concerned. This, ir was pointed out, would necessitate an expansion of the topographical work of the Bureau of Topography to keep pace with the photographid work and to meet the demand for maps for use by geologists of the Bureau of Geology and others. A resolution requesting Institute Council to make representations to the proper authorities, urging that aerial photography and topographic map-ping be greatly expanded to meet the pressing needs of the situation, was moved by DR. W. F. JAMES and seconded by MR. L. G. SMITH, and carried unanimously. The full text of the resolution appeared on page 221 of the May BULLETIN. Others who spoke in support of the resolution were MESSRS. E. S. MOORE, L. B. ROCHESTER, F. D. SHEPHERD, and W. J. WRIGHT. Dr. Hansen then presented his paper, Mapping by the Geological Survey, discussion on which is summarized below. MR. FRANK EBBUTT(l) spoke of the very valuable service the Geological Survey bas rendered the mineral industry, and indeed the whole nation, in its century of existence, despite the very inadequate financial support it has received. Now, more than ever before, a strong and expanded Geological Survey is essential if the Industry is to continue to prosper. Our known ore reserves are being depleted very rapidly, and we are finding no new orebodies to take their place. As an aid in prospecting and exploration, and also in the development of orebodies when they have been found, we must have geological maps of the vast sections of the country which at present are unmapped or inadequately mapped. The Institute should make every endeavour to have the Geological Survey strengthened so that such maps may be made available as soon as possible.

Jan 1, 1944

By John R. Bartels

Jan 1, 2009

By F. L. Pirkle, W. C. Bagby

"In his 1989 book, The New Realities, Peter F. Drucker, Clark Professor of Social Science at Claremont Graduate School, Claremont, CA, stated: “Information is data endowed with relevance and purpose. Converting data into information thus requires knowledge. And knowledge, by definition, is specialized” (p. 209).The discipline of mineral valuation is knowledge-based and requires a mineral valuer to collect, analyze and interpret data that are material to a mineral-valuation assignment. In so doing, the valuer turns the data into information (data come first, followed by information as determined by the mineral valuer) for use by the client (from whom the valuer obtained the mineral-valuation assignment) and other intended users. The valuer uses his or her experience and education (each valuer’s knowledge base) supported by a foundation built upon competency, materiality and transparency, the three pillars of mineral valuation (minerals valuation, mineral-property valuation).The International Mineral Valuation Standards Template (IMVAL Template), third edition dated May 2018, defines mineral valuation as: “The estimation of the value of a mineral property in money or monetary equivalent. The word ‘valuation’ can be used to refer to the estimated value (the valuation conclusion) or to refer to the preparation of the estimated value (the act of valuing)” (p. 14).Furthermore, the IMVAL Template clearly separates valuation from evaluation: “The template deals with valuation, which is distinct from evaluation. The distinction inherent in these defined terms is that valuation addresses the estimation of value of a mineral property, whereas evaluation addresses the broader assessment of a mineral property for an investment decision (p. 2).”This is an important difference because the minerals industry commonly makes investment decisions using feasibility studies to evaluate a proposed mineral development and production project. The purpose of such investment-decision analysis is distinctly different from valuation of a mineral property, no matter where that property lies upon the mineral explorationdevelopment- production-reclamation timeline (Fig. 1). Valuation involves terms such as market value, just compensation, fair value, etc., whereas investment-decision analysis is concerned with the economic viability of a given proposed project. Although feasibility analysis and market valuation can both use discounted cash flow (DCF) analysis as a tool, the formulation of the DCFs and their interpretation are different."

Nov 1, 2019

By M. Venkatraman

The limit of Hall - Petch relationship in ultra fine grained steels has been examined based on dislocation pile-up mechanism. When the grain size becomes small the dislocation multiplicity ceases resulting in very low work hardening rate in these materials. An approximate analysis of the theories of hardening indicates that H-P relation is obeyed up to 100nm. It appears that grain refinement is not the suggested approach to improve toughness as well as strength below a critical size.

Jan 1, 2004

By Thomas T., Read

T HE preceding chapter has recorded the initiation of mineral industry education during the period 1890-1910 in numerous institutions that had not previously offered it. It should also be emphasized that in many institutions where instruction had begun before 1890, as recorded in earlier chapters, but had not yet become firmly established,, this period was one of marked growth and development. This was not universally true, however, for at the Universities of Pennsylvania, Michigan, Illinois, Wisconsin, Washington (St. Louis), Iowa, Vanderbilt and Tennessee, and at the Polytechnic College of Pennsylvania, mineral industry instruction was being dropped during this period, instead of gaining in strength. It is necessary to emphasize this, because writers on the subject have not infrequently , attempted to make a much too simple correlation between mineral -discovery or production and the intensity of student interest in mineral industry curricula. It would naturally be true that periods of large mineral production would, in general, coincide with cycles of business prosperity, and the latter are conducive to starting new ventures, educational as well as business. It should be equally evident that opportunities for business and professional success might, in such periods, appear to increase at a more rapid rate in industries other than mineral, or in the utilization of minerals rather than in their production. The author has not been able to perceive any simple and clear relation between interest in mineral industry education and mineral discovery, production, and utilization, or general business prosperity. On the contrary, the more the problem is studied the more complex the factors involved in it appear to be. In a later chapter an attempt will be made to analyze them in more detail.

Jan 1, 1941

By Phillip N. Yasnowsky

The thrust of this Bureau of Mines report is to relate the size of automobiles to the price of gasoline, and the use of minerals in automobile manufacture to the size of automobiles. Only one of the many plausible scenarios of public reaction to higher gasoline prices, a switch to economy size automobiles, is developed. No account is taken of other potential impacts such as improvements in public transportation or increased occupancy per vehicle. Furthermore, a gasoline price increase is the only incentive to the greater utilization of economy cars that is considered. A gasoline price increase to $0.60 per gallon would reduce the amount of minerals required to produce the automobiles sold in the United States by an estimated 15 percent. Gasoline prices of $0.80 and $1 per gallon would cause declines in mineral requirements for U.S. automobile sales estimated at 26 percent and 35 percent, respectively.

Jan 1, 1974

By G W. Clamp

The most traum atic event within the lUK coal industry during the last 30 years was its privatisation. Who were the relatively unknown people from RJB: white knights or robber barons? This paper highlights the strong safety and progressive engineering cultures th at existed and continues within the company. A long-term view of the business coupled with proven professionalism is amply developed. Quite dearly, to revert to private ownership is not a return to Victorian values but ‘back to the future’.

Jan 8, 1997

By AIME AIME

THREE of the addresses presented at this interesting and important session are printed in full else- where in this issue. The fourth, Mr. Hewett's paper, on "Cycles In Metal Production" has been issued as Technical Publication 183, and an abstract of it was published on page 162 of last month's issue. The general discussion that followed these four important papers is given in full below. S. A. TAYLOR: I would like to ask Mr. Veasey whether the control of oil in pools includes royalties, and, if so, in case of a new pool how are you going to control, or rather how are you going to describe the limits of that pool?

Jan 1, 1929

By L D. Munro, S A. Jackson

This paper provides a logical approach to developing a TSF design concept through: • Identifying key properties of tailings and containment structures; • Reviewing underlying principles for effective operation; • Showing how these apply to select an appropriate TMS; and • Demonstrating how to align the TMS to site-specific constraints and TSF design. This approach follows a path of rigorous data analysis independent of discharge parameters (whether low-density slurry, paste or cake disposal) to select the most cost-effective and sustainable approach for any given material or site.

Jul 1, 2021

J. E. Stead, Middlesborough, England (communication to the author): Prof. Howe's valuable paper on cast-iron brings forward most prominently the correct explanation of the part played by combined carbon in pearlite and cementite, in determining the strength and hardness of cast-iron. On a previous occasioil I have shown that castings made by melting a white Cleveland iron and glazed iron, one containing 1.5 and the other from 4 to 5 per cent. of silicon, and each about 3 per cent. of carbon, were stronger than those made of ordinary foundry-iron; the difference in the final castings being a differ-

Jan 1, 1902

The Beverley uranium mine û now in production in the remote north of South Australia at1000 tonnes per annum û was established to meet a projected, but little-recognised shortfallin primary supply of uranium for the nuclear industry in the early part of the 21 st century. Inthe context of AustraliaÆs lack of bi-partisan support for uranium mining and the nuclearindustry, a four to five year window of opportunity existed from 1996 to establish the mine.During this period, Beverley achieved a number of firsts including: the first ISL mine inAustralia; the largest ISL mine in the world and the first to produce more than 500 tonnes ofuranium in its first year; the first to be established under a new Native Title regime in SouthAustralia; and the first to be established under a revised South Australian Mining Act.Beverley was brought into production against the background of: hostile opposition fromanti-nuclear activists; a suspicious and at-times hostile media; a regulatory and politicalcommunity that was unfamiliar with ISL mining; commercially unsophisticated Aboriginalgroups; an inexperienced engineering industry; and the vagaries of development in a remote,semi-arid location with neither population nor infrastructure. The lessons that can be learnedfrom Beverley showed that û like much in life û flexibility and timing are crucial.

Jan 1, 2002

By N Berkowitz

Slurry pipelining, as now under-stood and practised, can only command marginal interest in Canada, as long-distance railway freight charges in this country are generally lower than slurry pipeline tariffs. Several alternatives to conventional slurry transmission are, however, now emerging, and two such alternatives are briefly discussed with reference to coal pipelining. In one, coal is transported as a suspension in oil; the other contemplates the movement of paste "slugs." Preliminary economic estimates indicate that the resulant process simplification and adoption of common carrier principles could lead to cost reductions that might make Western coal competitive with imported fuel in the power generating stations of eastern Canada. R ECENT appraisals of slurry pipelining techniques, some-what incongruously 'based upon the performance of successful installations (1,2), are making it increasingly apparent that current solids pipelining methods can only command marginal interest as methods of bulk commodity transportation (3). Although some uncertainties remain in matters of detail, it is now generally conceded that long-distance slurry pipelining cannot compete against rationalized railway transportation unless movement of

Jan 1, 1963

By Leland H. Johnson, D. O. Kennedy, John Hyvarenen

"SUMMARYA chronological list of accidents at metal and nonmetal mines and quarries (excluding coal mines) in the United States in which five or more lives were lost has been compiled. Many accidents were described in more detail because of their unusual features. Tables have been included to indicate the number of major disasters and fatalities by the principal product mined, by State, and by 10-year intervals prior to 1945. The number of men employed to indicate man-hours exposed is unavailable; therefore, a true picture of disaster data by principal product mined, by State, and by 10-year intervals is not possible. However, the data are presented to indicate the causes of major accidents and bring to the attention of those affiliated with metal and nonmetal mines and quarries the hazards involved and lessons that can be practiced to keep such accidents at a minimum.INTRODUCTIONThe Bureau of Mines was requested to compile a chronological list of accidents at metal and nonmetal mines and quarries (excluding coal mines) in the United States in which five or more lives were lost. Data have been assembled on accidents from all causes in these mines and quarries from the earliest available information (describ¬ing an underground mine fire in Nevada in 1869) to the last reported major accident (a fire at a company-owned bunkhouse in Arizona in 1945).The accounts of the accidents were taken from articles in the technical press and from published and unpublished reports of the Bureau of Mines. Many of the accidents have been selected for more detailed descriptions because of the unique circumstances and to show the variety of dangers involved.Tables are included to indicate the number of major accidents, with resultant fatalities, by the principal metal and nonmetal producing groups, by State, and by 10-year intervals previous to 1945. The interval 1869-1875 does not cover a 10-year span because of incomplete records previous to 1869.ACKNOWLEDGMENTSThe information contained in this report was obtained from the Engineering and Mining Journal from 1874 to 1947, the Mining and Scientific Press from 1908 through 1922, from various published and unpublished reports of the Bureau of Mines and from reports by State departments of mines. Daniel Harrington, retired chief of the Health and Safety Division; E. H. Denny, supervising engineer, District H; R. M. Loucks, mining engineer; and other engineers of the Division contributed much valuable information and assisted materially in the study."

Apr 1, 1949

By The Honourable George Prudham

"I AM PLEASED indeed to be present with you here today and to be taking part in the proceedings of your convention. You have been greeted and welcomed to the Province by Premier Manning who is also provincial Minister of Mines and Minerals, and to this City by Mayor Hawrelak. As Minister of Mines and Technical Surveys in the federal government and as Member of Parliament for Edmonton West, I have been asked to share the honour of extending greetings and a cordial welcome to all.It is a happy coincidence that this representative national gathering, indicative of the growing strength and significance of a great basic Canadian industry, is taking place in the Macdonald Hotel, the new addition of which marks another important step forward in the progress of this City and district.This happens to be the third national convention of the C.I.M. that I •have had the pleasure of attending and I trust that I am not presumptuous in expressing the hope that I will have the opportunity of attending many more conventions of the Institute in my present capacity.Dr. Kidd has bestowed on me a high honour by asking me to be Co-Chairman of this Inaugural Session of the Convention and thus to share with him the responsibility of presiding over the proceedings of this afternoon."

Jan 1, 1953

By R. F. Bell, Schultz

The paper briefly discusses the nature of spontaneous heating in mines in the Doncaster area, in the period immediately before 1967 and steps taken to prevent and treat such outbreaks. The changes that led to the increased rates of advice of Barnsley Seam faces since 1967 are listed and the effects of these increased rates on the frequency and location of spontaneous combustion are discussed. The change in methods of control required by the increased rate of advance of the faces and the changes in location of outbreaks are described. Some typical heating situations are evaluated. The methods described include the use of air sealants, water gels for filling of voids in wastes, the balancing of pressures across heating areas by pressure chambers, booster fans, and the resiting of air separation doors, and the sealing of air-ways by flooding. The authors discuss the influence of mine layouts on the risks of spontaneous combustion and advocate that future plans should be designed to limit the number of districts at risk when heatings occur.

May 23, 1905

This report discusses the nonfuel critical minerals position of the United States-both current and future (to the year 2000). We have assumed that there will be no major global disturbances-military, political, or economic-during the rest of this century. However, international relationships, strategies, and conditions that affect the supply of minerals are very tenuous, normal trading patterns can be easily upset, and national and ideological objectives can and do interfere with "normal" free market conditions. For example, the Department of Defense has reported that the Soviet Union is engaged in a strategy designed to reduce the availability of strategic minerals, through either physical disruption, market manipulation, or domination of producing or neighboring states. Although such a strategy poses serious concerns for the United States and the free world, the impacts of disruptions are not covered in this publication. Historical Perspective The modern industrial economy of the United States is founded on the production and use of minerals.* Two hundred years ago our forebears began taming a raw continent, developing a base for agriculture and a rudimentary minerals producing system. In the 19th century, with the aid of imported labor and capital, the development of America's vast natural resources was undertaken, and the transition from an agricultural to industrial society was underway. By the century's close, the United States had emerged as a great industrial power, partly through the development of such mineral resources as iron in Minnesota and coal in Pennsylvania.

Jan 1, 1983