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By E. V. Lilford

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

Jan 1, 2005

By A. Dale Wunderlich

In the past, most people have associated gold scams with the sale of non-existent gold mines, an undivided interest in unmined ore or the sale of gold-plated lead bars. These scams are still available to those who want to speculate. Now, though, the mining industry is plagued with a new type of con artist. Many of the new scams involve large, well established mining companies being victimized. Nearly all legitimate mining companies are in search of good mining prospects. This makes them susceptible to modern day con artists. Many professionals from the mining and petrochemical industries are out of work. Some of them have gotten involved with scams or activities that border on the criminal. Mining companies are losing millions of dollars each year to scams. Some of these scams involve venture-capital fraud. Some involve fraudulent mining proposals. And some involve unqualified individuals who are providing services by the precious metals industry. The author estimates that mining scams may be costing precious metals companies as much in dollar losses annually as employee theft. Employee theft is at an all time high, but so are gold scams. Since January of 1990, the au¬thor has been involved in gold theft investigations in which more than $1 million in gold product has been stolen by employees. In the past, most of the gold mine scam operators have concentrated on the general public, which is generally ignorant of basic mining procedures and practices. A scam artist would tell someone from your neighborhood that they have a wonderful underground mine. It produces 62.2 kg/t (2000 oz per st) of gold ore. Your neighbor might think that sounds like a very good investment. Those involved in the mining industry know better.

Jan 1, 1990

By Kenneth Gavin

Design practice for piles installed in Irish glacial till has developed in an ad-hoc manner, based on the results of un-instrumented load tests. This had led to designers using similar design parameters for both CFA and displacement piles. To address the concerns of industry a series of instrumented pile tests were performed by two Irish Universities. These tests summarized herein, revealed that CFA piles develop higher shaft resistance than piles driven in glacial till. However, they exhibit low base stiffness and the end bearing resistance that can be mobilized at acceptable pile settlement is low. The use of simple non-linear elastic design approaches to predict the load-displacement response is considered. The methods are used to predict the capacity of two large diameter CFA piles installed in glacial till. While the predictions were reasonably accurate at predicting the initial load-displacement of the piles, significant creep settlement developed at higher load levels. The cause of the creep settlement was investigated through the use of plate load tests and the consequences for pile design are discussed.

Jan 1, 2009

Coal washing practice can be improved not only by critical examination of the plant being operated but also by studying plants operated in other areas. The developments at the Australian Iron & Steel Pty. Ltd. plants are discussed in relation to experiences there as well as developments which have taken place in Queensland in recent years. Early A.I.S. problems involved small coal cleaning in heavy medium cyclones and flotation. A proposed future plant flowsheet for A.I.S. is considered in the light of these experiences. Reference is made to plants operated by the Thiess, Peabody, Mitsui Coal Company Pty. Ltd. at Moura and the Utah Development Company's plants at Blackwater and Goonyella in the development of coal washing prac- tice in Australia.

Jan 1, 1975

By C. Kremer Bain

UNDER present economic conditions the necessity of mechanizing the mines of our country has become a very important problem. More and more mines are looking toward increased or complete mechanization of their operations, so in the writer's opinion it is quite pertinent that some of the associated problems that accompany such a program be pointed out. The following generalization on attempting a comparatively slight change in mining methods at the Southeast Missouri properties of the St. Joseph Lead Co. is an attempt to point out to anyone faced with a mechanization program that much time and C. KREMER BAIN, Member AIME, is Assistant to General Manager, St. Joseph Lead Co., Bonne Terre, Mo. AIME Sun Francisco Meeting, February 1949. TP 2743 A. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Dec. 27, 1948; revision received Oct. 13, 1949. effort can be saved, and many headaches avoided, if company policy can be established whereby everyone in the organization from the top down is desirous of improvement and is working towards the common objective. Any changes in mining methods, machinery, and so on, must entah coordination of all the other phases of mining as they all have to mesh as accurately as a smooth running chain of gears if satisfactory results are to be obtained. The purpose of this paper is to point out some of the problems which :have to be surmounted when any mechanization program is attempted, rather than to go into the mechanical details and actual operating data of the equipment employed. After all, machines have to be adapted to best suit the local conditions, so no general formula can be given that would apply to other properties. Although St. Josepll Lead Co. has been mechani-cally-minded for a number of years, as shown by the fact that over 110 million tons have been loaded mechanically since 1922, any further mechanization or changes always present a problem. When our ore bodies were of great height and area the breaking and loading were developed to a high degree of efficiency according to known standards. But in recent years, when our ore bodies became smaller and more scattered, the amount of tonnage we were able to break was not sufficient to supply our shovels with enough rock to keep them working to capacity. Our first step in attempting to rectify this situation was to develop a technique of moving the shovels to the broken ore in various stopes, which sometimes entailed a move each shift. A shovel is not producing when being moved, so within the last two years we have been endeavoring to devise some means of getting more rock broken in these smaller stopes and it was then that we became interested in jumbo drilling. To illustrate the fact that mechanization is a process of a chain of developments rather than a stroke of genius can best be shown by a general summary of conditions and obstacles which were encountered in our present attempt to establish template drilling of a standardized round. Our first jumbo was more or less the conventional type with two machines mounted on a crossbar. This arrangement proved to be impractical to duplicate satisfactorily the regular routine of slabbing in a more or less radial pattern as carried out by column drilling. One machine was either too close to or too far from the face and there was another disadvantage in that one drillman was frequently delayed while waiting for his partner to bottom a hole. Our next step was to eliminate the crossbar so the machines could operate independently of each other, but we still encountered the same objections mentioned above except that one drillman was free to drill three holes instead of one in a vertical plane independently of his partner. Time studies while trying to adapt the jumbo to the regular slabbing practice as accomplished by column drilling, revealed that twice as much time was spent in maneuvering the jumbo into position and aligning the holes as was consumed in drilling.

Jan 1, 1951

By C. Kremer Bain

UNDER present economic conditions the necessity of mechanizing the mines of our country has become a very important problem. More and more mines are looking toward increased or complete mechanization of their operations, so in the writer's opinion it is quite pertinent that some of the associated problems that accompany such a program be pointed out. The following generalization on attempting a comparatively slight change in mining methods at the Southeast Missouri properties of the St. Joseph Lead Co. is an attempt to point out to anyone faced with a mechanization program that much time and C. KREMER BAIN, Member AIME, is Assistant to General Manager, St. Joseph Lead Co., Bonne Terre, Mo. AIME Sun Francisco Meeting, February 1949. TP 2743 A. Discussion (2 copies) may be sent to Transactions AIME before March 31, 1950. Manuscript received Dec. 27, 1948; revision received Oct. 13, 1949. effort can be saved, and many headaches avoided, if company policy can be established whereby everyone in the organization from the top down is desirous of improvement and is working towards the common objective. Any changes in mining methods, machinery, and so on, must entah coordination of all the other phases of mining as they all have to mesh as accurately as a smooth running chain of gears if satisfactory results are to be obtained. The purpose of this paper is to point out some of the problems which :have to be surmounted when any mechanization program is attempted, rather than to go into the mechanical details and actual operating data of the equipment employed. After all, machines have to be adapted to best suit the local conditions, so no general formula can be given that would apply to other properties. Although St. Josepll Lead Co. has been mechani-cally-minded for a number of years, as shown by the fact that over 110 million tons have been loaded mechanically since 1922, any further mechanization or changes always present a problem. When our ore bodies were of great height and area the breaking and loading were developed to a high degree of efficiency according to known standards. But in recent years, when our ore bodies became smaller and more scattered, the amount of tonnage we were able to break was not sufficient to supply our shovels with enough rock to keep them working to capacity. Our first step in attempting to rectify this situation was to develop a technique of moving the shovels to the broken ore in various stopes, which sometimes entailed a move each shift. A shovel is not producing when being moved, so within the last two years we have been endeavoring to devise some means of getting more rock broken in these smaller stopes and it was then that we became interested in jumbo drilling. To illustrate the fact that mechanization is a process of a chain of developments rather than a stroke of genius can best be shown by a general summary of conditions and obstacles which were encountered in our present attempt to establish template drilling of a standardized round. Our first jumbo was more or less the conventional type with two machines mounted on a crossbar. This arrangement proved to be impractical to duplicate satisfactorily the regular routine of slabbing in a more or less radial pattern as carried out by column drilling. One machine was either too close to or too far from the face and there was another disadvantage in that one drillman was frequently delayed while waiting for his partner to bottom a hole. Our next step was to eliminate the crossbar so the machines could operate independently of each other, but we still encountered the same objections mentioned above except that one drillman was free to drill three holes instead of one in a vertical plane independently of his partner. Time studies while trying to adapt the jumbo to the regular slabbing practice as accomplished by column drilling, revealed that twice as much time was spent in maneuvering the jumbo into position and aligning the holes as was consumed in drilling.

Jan 1, 1951

By Arvid E. Anderson, Frank K. Cameron

The weathering of copper-bearing ores with the formation of a water soluble salt and the recovery of the metal by leaching and evaporation precipitation, are processes long known, which have at various times been utilized with more or less commercial success. It is commonly assumed that the technical principles involved are quite simple and their application to a particular case easy. If these assumptions were true, we should anticipate a long list of uniformly successful leaching operations, which is not the case, and one would be justified only in calling attention to either unique or peculiar features of any particular enterprise; whereas, in studying the problems of the recovery of copper from the old workings of the Ohio Copper Co. in the light of available descriptions of other leaching projects, we have not found the assistance hoped for to guide us to the best realization of our own opportunities. It appears desirable, therefore, to call attention to these guiding principles, together with a description of the facts of accomplishment. Justification lies in the fact that the leaching and precipitation of copper at the Ohio Copper Co. mine in Bingham Canyon, Utah, is successful. This success is measured by an average monthly production of 600,000 Ib. of copper at an average operating cost, to date, of 3.85 cents per pound at the company's workings, or 6.32 cents per pound after paying shipping and smelter charges on the finished copper. A total of 17,076,099 Ib. of copper had been shipped to the smelter from the beginning of operations, August, 1922, to April 1, 1925. Probably these results can be bettered with further study and realization of the factors involved and the devising of methods of meeting them. It is now an assured fact that the enterprise will have a relatively long and continuously profitable life and that its reserves will not, nor cannot, be suddenly and permanently depleted. It is particularly noteworthy that the financing of this enterprise has been entirely from its earnings. The few hundred dollars necessary for the first experiments and production were obtained by the sale of used, and no longer needed, equipment from a mill belonging to the company; and all funds since required throughout the growth and development of the enterprise, from a few troughs with a production of 2000

Jan 1, 1926

By F. D. Huntley

Raw materials used by the Flat Glass Industry are known in the Industrial Minerals geology sector as Specialty Products. These pro- ducts must meet specification limits usually not the same for all glass manufacturers. Evolving new glass compositions will require mineral concentrates of consistent purity being produced within economic limits that will assure market viability of the resulting glass product. The amount of success the Flat Glass Industry will achieve by developing and maintaining domestic production centers will be determined by many economic factors which affect the costs of doing business. Technological developments by mineral processors must continue in order to achieve more efficient production of high quality glassmaking raw materials.

Jan 1, 1986

By D. A. Shock

Utilizing the technology developed for oil well stimulation by hydrofracing, a disposal system which permanently fixes the waste has been proven. Large quantities of radioactive waste can be processed by a single well system making this method an attractive method for permanent radioactive waste disposal. The system depends on locating a relatively thick formation of impermeable, but easily fracturable rock such as a shale, creating a horizontal fracture, pumping the waste into the fracture in a form which will subsequently solidify and seal the fracture from the well system. The paper presents the theoretical considerations from creating and extending horizontal fractures and how these considerations were used in designing a waste disposal system which is now operating.

Jan 1, 1964

By C. E. Shoenfelt

The outstanding development in Colorado in 1938 was the completion of the discovery well of the Wilson Crcek structure in Rio Blarlco County, on the western slope in the northwest corner of Colorado. Last year the Transactions (volume 127) carried an account of the discovery of oil in the Morrison sand in the Wilson Creek structure, in the joint test by The Texas Company and The California Company. This important

Jan 1, 1939

By C. E. Shoenfelt

The outstanding development in Colorado in 1938 was the completion of the discovery well of the Wilson Crcek structure in Rio Blarlco County, on the western slope in the northwest corner of Colorado. Last year the Transactions (volume 127) carried an account of the discovery of oil in the Morrison sand in the Wilson Creek structure, in the joint test by The Texas Company and The California Company. This important

Jan 1, 1939

By Oliver Bowles

The following discussion of waste rock utilization constitutes the fifth paper of the current series of reports on lime- plant quarry problems . As here tofore lime manufacturers are invited to cooperate to the fullest extent by supplementing the Bureau's information with the results of their own experiences and observations . Waste utilization is the key to success in many enterprises , and with a broader knowledge of this branch of the lime industry more economical operation is made possible . Your assistance in compiling additional data on this subject is solicited , and such assistance may be rendered by writing answers to the questions on the final page of this report .

Apr 1, 1923

By R. A. Guidotti

The Federal Bureau of Mines studied the thermal decomposition of the nitrides of the Group V A metals (CbN, Ta3N5, and VN) with the goal of preparing high-purity metals. Solid-state purification and arc and electron-beam melting were examined. Electron-beam melting proved to be the most efficient means of nitrogen and oxygen removal. Columbium and tantalum of 99.9-pct purity were prepared by this technique; in the case of vanadium, however, nitrogen could not be reduced below the solid-solution level.

Jan 1, 1976

The 69th Regular Meeting of the Rocky Mountain Coal Mining Institute convened in Manor Vail Lodge, Vail, Colorado, and was in session at 10:00 a.m. The meeting was called to order by Past President Joseph E. Ward, former District Manager, Denver Office, Coal Division, Joy Manufacturing Co. and now retired. Mr. Ward, after reading a brief biography of President O. F. "Os" Lewis, introduced him to the assembly. Biographical sketch read as follows: Mr. Lewis is President, General Manager, and a Director of Colowyo Coal Company. "Os" was born in Reno, Nevada. He attended the University of Utah at Salt Lake City, Utah, and later the Denver University in Denver, Colorado. His career in the Western Coal Industry started back in 1923 when he was employed by the Central Coal and Coke Company of Salt Lake City, Utah, as a clerk, then chief clerk and as a traveling sales representative for a period of 13 years. Later, in 1936, when that company was acquired by an affiliated company of Harris Coal Company, he was transferred to Denver as Assistant Sales Manager, Purchasing Agent and later as Executive Assistant to the President.

Jan 1, 1973

By Richard Stahura

The longtime rule-of-thumb for conveyors was that only one cleaner was needed to solve carryback problems and help keep belt replacement costs under control. That is now being rethought. Belt-cleaning systems manufacturers, designers, and users are shifting to the view that multiple cleaners, placed at key locations on the conveyor and properly maintained, are necessary to solve today's material build-up (carryback) problems. There are still not many statistics on conveyor belt cleaning. But some recent studies support this belief. One study contends that the plant maintenance engineer's biggest problem is keeping the conveyor system running efficiently. The study also said the conveyor itself is responsible for most plant shutdowns. An unscheduled conveyor shutdown can cost more than $100,000/hr and run into millions in lost production in a given year. Other studies pointed out that belt replacement is the greatest single cost of the conveyor system. These studies allude to an important fact: cleaner belts lead to reliability and longer belt life. They showed that a critical relationship exists between characteristics of material being moved and the design of all major conveyor components. In practically all situations this relationship is keyed to belt cleaners, which have long been considered "add-ons" or "accessories." At the Fifth International Coal Utilization Exhibition and Conference, the Sammis Station-Ohio Edison Co. said it installed four belt cleaners on each problem belt. The company found that under certain conditions, when the coal is wet and sticky, carryback can be so heavy that it will flow over two cleaners. Before installing the cleaners, it was necessary to schedule a cleanup crew of four men each day and rent a large vacuum truck for an eight-hour shift. In addition, the company dredged the harbor three times a year, to remove coal spillage. Once the cleaners became operational, however, cleanup costs were reduced to a few days labor every third month. Renting the vacuum truck crew was also eliminated, and harbor dredging became necessary only once each year. In addition, the Mechanical Handling Engineers' Association (MHEA) in London pointed out that standards for cleaners are sorely lacking in the industry. MHEA called for instituting such standards in the future. They also reaffirm using multiple belt cleaners for increased efficiency. MHEA pointed out that some conveyor belts can be cleaned by one device, provided that it is correctly installed and adequately maintained. But MHEA recommended that a system approach be adopted, since this has proved more effective in practice. There are two main reasons why one belt cleaner fails to solve most carryback problems. First, management often reasons that the design of the current cleaner has probably been around for years, so it "must be good." This logic leads to a continued investment in keeping the current model operating, which includes pouring substantial sums of money in "housekeeping" manpower hours because the cleaner does not clean. Second, most single-belt cleaners are specified too late in the design process (indeed, some after the system is operational). This complicates matters since cleaning efficiency is directly proportional to when they are specified: the later the specification, the less efficiency. Cleaning equipment should be taken into consideration before the conveyor's structure is designed and fabricated. Otherwise the space available to install adequate cleaning equipment at the head pulley may be inadequate. Instead of matching conveyor with proper cleaner (as would occur during the design of the conveyor itself), designing a cleaning system "after-the-fact" becomes a matter of matching cleaner to conveyor. This limits choices in cleaners and, therefore, overall cleaning effectiveness. This is why after-the-fact designs of single belt cleaners are costly and rarely successful. While it is always best to specify belt cleaners during early design stages, the multiple-cleaner systems approach makes the timing of cleaner installation less critical. Because of flexible mounting hardware, a well-designed system can lead to 99% efficiency in cleaning and put an end to carryback even after a system is operational. Multiple-Cleaner Systems Approach In a multiple-cleaner system approach, the first step is to achieve a thorough understanding of the material to be moved under the worst conditions. With such un-

Jan 4, 1984

By J. Kretschmann, T. Rudolph, L. Michael, P. Goerke-Mallet

The mining value chain plays an important role in our societal development. Even in a circular economy, mining and raw materials are in great demand, and so are skilled engineers. In Germany, many students decide to pursue STEM studies in the tertiary degree. Nevertheless, the OECD reports low completion rates in obtaining the degree of studies [1]. Generally, the dropout rates in STEM education are high [2]. Many students have difficulties with basic subjects such as science and mathematics, in which they lack knowledge they should have acquired in school [2]. With the German STE(A)M project PepperMINT (https://peppermint.thga.de/), the Technische Hochschule Georg Agricola (THGA) offers a digital and open educational platform, as a dynamic, massive open, online course (MOOC) for students and prospective engineers. The project is funded by the RAG-Stiftung (RAG-Foundation; No. 20-0004). Using adaptable MOOC classes and applied examples from the wide-ranging cycle of mining activities, we motivate students to engage in STEM studies. Our adaptive and application-oriented content demonstrates the diversity of jobs and career paths in the mining industry. The integrations of applied examples and research activities of the Technische Hochschule Georg Agricola can increase the curiosity and motivation of learners. In mathematics, mine-surveiying technologies and geomonitoring methods (see figure 1) can be used to teach trigonometry. Additionally the concept of the free open online classes enables students in high school to get insights into the field of engineering before they decide the subject of their studies. For freshmen who already decided to pursue a STEM degree, the PepperMINT courses can help to identify and close knowledge gaps and to align different levels of knowledge within a heterogeneous student body. Empowering students in STEM education and integrating examples from mining research can help us train the mining engineers of the future.

Mar 2, 2022

By Fiona Woody

Lime and calcium products are essential building blocks to the modern world, used to purify drinking water, preserve foods, control pollution, improve crop yields, stabilize soil, pave roads and support the production of steel, cement, glass and many other industrial processes. While lime is essential to society, it also has a sizable carbon footprint. Approximately 30 percent of the scope 1 greenhouse-gas emissions generated during lime production are related to fuel combustion, while the remaining 70 percent are created by the unavoidable chemical reactions during calcination.

Feb 1, 2026

By W. E. Newton

THE following notes are offered primarily to show that industrial minerals or their products have a much more important place in the metallurgical industry than is perhaps generally realized, and with the hope also that some statement by the metallurgical consumer of the relative merits of various materials for particular requirements or services will l;>e of value to the industrial mineral producer. These notes are not in any way presented as complete. Also, some of the statements made may be debatable. The grouping adopted is as follows: (1) Refractories; (2) Fluxes; (3) Construction materials; and ( 4) Miscellaneous applications. Fuels are not dealt with in the present paper. REFRACTORIES GENERAL: Refractories are materials which will withstand high temperatures with-out melting or becoming markedly soft or pasty. While their primary function is to withstand heat, they are usually called upon to resist one or more of the following destructive influences: abrasion, pressure, corrosion by slags or fluxes, and rapid changes in temperature. Refractory materials may be conveniently divided into three classes: (1) Acid refractories-consisting of silica, or containing silica as their chief constituent. They combine more or less readily with metallic oxides, forming silicates, and are hence termed 'acid'. The most important of these are quartz, quartzite, siliceous sand, tripoli, Dinas rock, and ganister. Most fire-clays, although generally considered neutral sub-stances, contain relatively small amounts of free silica and are, to that extent, acid. (2) Neutral refractories-the term is merely relative in most cases, since, at high temperature, many of the refractories that are classed as neutral will react chemically with a strong base, functioning as a weak acid; or, conversely, with a strong acid, functioning as a weak base. Chrome and graphite are the most nearly neutral of all the commonly used refractory materials.

Jan 1, 1936

By A. Flemming

"As the next century draws near, new mine properties must be brought into production to replace existing operations that are approaching their economic life. This paper presents some of the critical technical issues being addressed by Manalta Coal Ltd. as they strive to bring the Telkwa Coal Project near Smithers, BC into production during the year 2000. The mine is planned to produce between 1.0 to 1.5 million tonnes per year of medium volatile coal for export to overseas thermal and PCI markets. IntroductionManalta Coal Ltd. (Manalta) is proposing the development and operation of a surface coal mine and associated infrastructure approximately six kilometres southwest of the village of Telkwa, British Columbia (Fig. 1). The infrastructure consists of a coal washing facility, tailings disposal area, clean coal haul road, access road and rail loadout facility. Over a 25-year period, the mine is expected to produce between 25 and 37 million clean tonnes of coal primarily for the export market.To achieve public and governmental approval for the development, the project will be reviewed under British Columbia’s Environmental Assessment Act. Manalta entered the formal Assessment process in February 1, 1997 with the submission of an Application for a Project Approval Certificate for the Telkwa Coal Project."

Jan 1, 1997

By Juan Silbino

En 2012 se realizó un diagnóstico en Volcán Compañía Minera donde se identificó la necesidad de efectuar un cambio en dos frentes: Sistema de Gestión SSO y Líderes. El sistema se basó en cuatro pilares fundamentales y aplicó las siguientes herramientas: gestión de riesgos, condiciones, conocimiento y comportamiento. Dentro del pilar condiciones, se priorizó doce riesgos críticos para contener los accidentes mortales e incapacitantes. En ese sentido, el presente artículo describe la estrategia enfocada sobre la base del Cambio de Cultura en Seguridad aplicado a Volcán Compañía Minera como modelo sostenible que se fundamenta en una visión integrada. Esta estrategia influye sobre las personas, instalaciones, equipos, tecnología y sistemas de administración de seguridad y salud con un enfoque de contención de accidentes, a través de los elementos críticos presentes en el sistema de gestión.

Apr 1, 2017