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DCF Valuations are very important to individuals and companies involved in the mining industry. Such valuations are critical to investment decisions in relation to new and existing projects. In particular they provide fundamental information to shareholders in the event of a capital raising or takeover and to financiers supporting mining companies and projects. Also, DCF Valuations are often used to support asset carrying values in the financial statements of mining companies. This paper presents a Chartered Accountant's (CA's) perspective on the main issues to be considered in preparing, analysing and relying upon DCF methods in mineral valuations and provides some practical examples relating to key issues. The paper makes the important point that DCF methods involve making assumptions about future events and circumstances that inherently contain uncertainty which results in a valuation prepared on a DCF basis providing a range of values that are not perfect or accurate. In order that DCF valuations provide meaningful information the underlying methodology used and assumptions made must be consistent, sound and well supported. Credibility of those involved in preparing mineral valuations is vital and this paper supports the adoption of sound practices by all concerned.

Jan 1, 1994

By David Heydon

NAUTILUS MINERALS is a leader in the commercial exploration for and evaluation of seafloor massive sulfide (?SMS?) deposits. Nautilus has exploration licences covering 15,000 sq km of seafloor in Papua New Guinea and is evaluating other areas in the Western Pacific. The Nautilus Western Pacific Gold-Copper project is an interesting case study of the interaction of the disciplines of Science, Engineering and Environmental Science to solve and attend to the challenges of a project without precedence. The Science books of geology and marine biology with respect to seafloor massive sulfides are still being written or at best are thin volumes with recognition still we know very little at this time. Science?s early discoveries and study of these mineral processes on the seafloor provided invaluable data from which to develop an exploration strategy and the genesis of Nautilus itself. The Engineering required for development of such deposits is a combination of yet to be tested ?theory and engineering principles? and adaptation of best practice from other fields such as oil/gas and telecommunication cable laying. The Environmental guidelines for exploring these deposits, let alone mining them, is at the moment still being debated by a panel of experts chosen by the International Seabed Authority.

Jan 1, 2005

By C. Chapman, M. G. Reading, M. P. Amsden

Ecstall Mining Limited, a subsidiary of Texasgulf Incorporated, operates the Kidd Creek mine, a 10,000- tpd base metal producer, near Timmins, Ontario. Two different ore types are mined and milled copper-zinc and silver-lead-zinc. At the highly automated Ecstall concentrator, the ores are processed by selective flotation in three individual circuits. One of the most important metallurgical tools for process control is a sample system incorporating continuous onstream X-ray analysis. Recently this system was further automated by adding computer control of reagents for two copper-zinc flotation circuits. The computer programs, utilizing optimum seeking methods and smelter contract terms, have increased copper recovery 0.8% and zinc recovery 1.6%, and reduced reagent costs by 12%. Although not anticipated, copper and zinc concentrate grades were improved modestly as well.

Jan 1, 1973

By Cintia Guimarães Ferreira

O uso de materiais compósitos possibilitou relevante avanço tecnológico em áreas biomédicas e industriais. As matrizes poliméricas reforçadas por Fibra de Vidro são predominantes em nível comercial devido à facilidade no processo de fabricação. Entretanto, podem apresentar variabilidade intrínseca de propriedades devido a fatores importantes, tais como: não uniformidade e não conformidades relativas ao reforço e matriz. Inspeções visuais identificam defeitos característicos de distorção de fibras, bolhas superficiais e áreas secas de impregnação. Para detectar porosidades, trincas ou delaminações outros métodos são necessários. Este estudo apresenta a técnica de Radiografia Direta (RD) para a inspeção de materiais compósitos. Utilizou-se um detector Flat Panel do tipo silício amorfo (aSi), uma fonte de raios X de potencial constante e uma mesa controlada por Arduino. Foram realizadas radiografias de duas juntas de 4 polegadas de diâmetro nominal de material polimérico reforçado por fibra de vidro. Como resultado, foram detectados defeitos de delaminação, descolamento, trincas e porosidades, que não poderiam ser detectados visualmente.

Oct 30, 2017

This report contains the papers presented at the Technology Transfer Seminar on Ground Control Aspects of Coal Mine Design held by the Bureau of Mines on March 6, 1973, in Lexington, Ky. Seminar attendance consisted of representatives from the coal mining industry, universities, mining consultants, instrument manufacturers, and local, State, and Federal Government. The purpose of this meeting, one of a series of Technology Transfer seminars, was to provide the coal mining industry with detailed information about recently developed techniques, equipment, and instruments which can be used in the solution of coal mine design problems and to discuss results and direction of research in mine design. The report includes opening remarks by Joseph J. Yancik, Acting Assistant Director--Mining; an overview of the Federal Bureau of mines approach to mine design; three papers an problems associated with the design of panels; five papers on coal mine roof problems; three papers on long wall problems; and the comments made by- the participants on the Bureau-industry panel discussion.

Jan 1, 1974

By D. W. Alexander

Researchers from the U.S. Office of Mine Safety and Health Research (OMSHR) of the U.S. National Institute for Occupational Safety and Health (NIOSH) completed field trials during coal mine rescue contests using simulated gas detectors in place of placards. The gas monitor simulator (GMS) devices replaced static, paper placards to deliver gas concentration data. Eleven teams were observed during the field contest, which was approved by the Mine Safety and Health Administration (MSHA). GMS devices were given to three team members (the captain and both gasmen). Observation of teams revealed that team members changed behavior by acknowledging and sharing information more often while using the GMS. As a result of this research, it has been demonstrated that under the existing contest format, the newly developed GMS device may be used with no adverse impact on team contest performance. Furthermore, when GMS technology advantages are used, contest realism is improved. In the future, competency assessment may be incorporated.

Jan 1, 2012

The 18th annual American Mining Hall of Fame Awards Banquet sponsored by the Mining Foundation of the Southwest will be held on Saturday, Dec. 2, 2000 at The Westin La Paloma in Tucson, AZ. The 2000 inductee, guest of honor and featured speaker at the banquet will be Ronald C. Cambre, chairman and chief executive officer of Newmont Mining. He will be honored for his role in positioning Newmont as an innovative and key player in the gold mining industry.

Jan 1, 2000

By Raymond Kaufman

While there is no immediate worldwide shortage of hard minerals, the consumption of natural resources is constantly increasing, and there are ominous predictions of shortages to come. Means of meeting rapidly increasing demands are being implemented. These include such methods as exploration and discovery of new ore bodies, development of new mines, increasing production at existing mines, working or reopening known deposits of lower grade ore and tailings, recycling old materials, and developing more efficient and less wasteful processes to convert ores and metals into useful products. The United States, although itself mineral-rich, depends in large measure on imports for many key minerals and basic materials derived therefrom. According to the Department of the Interior, the U. S. depends upon imports for more than half of its supply of six of the basic thirteen raw materials required by any industrialized society - aluminum, chromium, manganese, nickel, tin, and zinc. By 1985 the country will also depend upon imports for more than half of its iron and tungsten, and by the year 2000 imports will have to supply more than half of the copper, potassium, and sulfur that it requires.

Jan 1, 1975

By Peter White

The Hemlo Gold District, located on the north shore of Lake Superior, was discovered in 1981 and will become one of the largest gold mining camps in Canada. Three major Canadian mining companies are presently developing large orebodies and are scheduled to commence production at various times through 1985 and 1986. This paper describes the types of shaft sinking equipment and technology being used by contractors in constructing the required shafts to depths below 1000 metres. The principal shaft design criteria, types of shaft sinking machinery and relevant manpower allocations are discussed.

Jan 1, 1985

By Charles W. Briggs

The steel foundries of Germany were investigated for the purpose of ascertaining (1) the type and classification of steel structures produced as castings, (2) processing methods, (3) the mechanical properties of carbon and alloy cast steels, (4) the type and character of defective castings, (5) the appearance of castings, (6) research in steel castings, and (7) plant lay-out and equipment.

Jan 1, 1946

By Jack E. Fraley

The Bureau of Mines has successfully developed and tested a machine for spraying sealant onto coal mine roof and ribs. Dry material is transported pneumatically to a water-adding nozzle designed to provide dust-free spraying while being nonplugging and self-cleaning. The machine is self-cleaning, 35 inches in height, and capable of applying l/2-inch-thick coatings at over 1,000 ft2/hr.

Jan 1, 1978

By Sri Sawmliana, P. Pal Roy

Blasting Gallery (BG) method was introduced in India for higher production and low cost of excavation to substitute conventional hand section and stowing methods for thick coal seam. The Singareni Collieries Company Ltd. (SCCL) adopted this method in the year 1989 and since then successfully operating at GDK-10, GDK-8 & VK-7 Incline mines in Andra Pradesh, a southern state of India. It is also successful at Chora 10 Pit Colliery of Eastern Coalfields Ltd. (ECL) in West Bengal whereas at East Katras Colliery of Bharat Coking Coal Ltd. (BCCL) in Jharkhand State, the method has been partially successful due to some geological constraints of the area.

Jan 1, 2003

By V. Budinsky

In recent years the global mining industry has addressed its social and environmental responsibilities and numerous factors have contributed to this. Corporate Social Responsibility (CSR) is an important part of mining company strategy for practical implementation of the goals of sustainability, transparency, accountablity and good relationships with stakeholders:- investors, employees and communities. A key stakeholder for all mining companies is the local community which is affected by the mining operations. Companies must identify the emerging social and environmental trends, study the interests and concerns of various communities, address their needs and maintain a positive relationship. The CSR programmes of Czech coal mining companies are focused on surrounding community initiatives and sustainable responsible business. Mining in the Czech Republic is subject to strict rules and regulations and supervised by the State Mining Authority. Mining projects undergo rigorous approval procedures which encompass all operational measures at the different planning levels ? such as public participation in the authorisation process for mining projects, the application of the Environmental Impact Assessment Directive, environmental sustainability programmes, innovative solutions and flexible options offered by the mining company. One very important part is the preparation of the mining-technology preconditions and developing the integrated planning process in which all socially and politically relevant subjects in the mining operation surroundings are included. In an in-depth debate, all stakeholders may jointly develop the concept, in accordance with democratic principles. The optimally conducted dialogue process needs broad communication bases, including setting up theme-related joint taskforces, together with good moderation and the highly qualified support of technical experts. Using a case study of Severoceske doly a.s. Chomutov (SD Company) and the Czech Coal Group ? Czech leaders in the extraction of brown coal, this paper aims to examine the community development approaches and the CSR effectiveness of large scale mining companies. This paper brings a review of CSR and other such voluntary initiatives in the mining industry's proactive steps to contribute to societal well-being in a meaningful way. Key studies are provided by the projects ? Region with Better Perspective?, ?Stop Dust for Healthy Brezno Village?, ?Clever Heads for the North? and ?Coal Safari?. CSR issues are managed throughout all stages of the mine operation and beyond, long after the mine closes (e.g. post-closure programmes of new landscape, alternatives for reclamation including generation of lakes in former surface mines, conceptualization of industrial heritage). Communities need to be given the opportunity to help themselves through participation in CSR projects rather than being recipients of financial gifts from the company. A fair balancing of interests is the basis of any successful cooperation.

Aug 1, 2013

By P Wood

Loy Yang Power (LYP) owns and operates a 2160 MW brown coal fired, base load power station in the Latrobe Valley, Victoria, Australia (Loy Yang A). It also owns and operates a brown coal mine that supplies fuel to its own power station and a nearby 1000 MW power station owned by International Power (LoyYang B). The mine supplies 32 Mt of coal per annum from an open pit, which is currently about 4 km long by 2 km wide and 180 m deep. LYP has 500 employees and a substantial amount of work is also carried out by contractors and consultants. GHD Pty Ltd(GHD) has been contracted to provide mine planning and earth sciences expertise. GHD is an international professional services company that operates globally in many market sectors including mining, industry and the environment. The company has major offices in Melbourne and also within the Latrobe Valley. This paper sets out the experiences that GHD and LYP have gained in establishing a unique alliance arrangement for GHD to provide a range of mine planning, earth science, dam surveillance and environmental services to LYP. The underlying philosophy of the alliance is to closely align the objectives of the two companies such that GHDÆs recompense for service delivery is proportional to the benefit achieved by LYPÆs business. Quality of service, whole of life costs and risk management are important aspects and are reflected in key performance indicators against which GHDÆs performance is measured. Currently GHD provide 20 000 hours of labour to LYP per annum, which are delivered by up to 120 staff who possess the required diversity of skills. The paper explains how the contract was initially let as a conventional service agreement and explains why the contract was transformed into an alliance. It then illustrates the operation of the alliance with reference to the 2006 work program. The paper concludes with thoughts on how the arrangement can be further developed for the future to the benefit of both parties.

Jan 1, 2006

Many aspects of best practice resource evaluation do not create value, but poor practice can certainly destroy value. Generally companies prefer to present how their good practice adds value and for this reason few publications exist on examples of how poor practice can destroy value. However in big and small companies there are many previous and current examples of poor practice destroying value. The incremental expenditure required to move from poor practice towards best practice can be looked upon as insurance against destroying shareholder value. Examples of how poor practice in geology has destroyed value are presented as well as the improvement model used by BHP Billiton to add value and insure against destroying value.

Jan 1, 2002

By Arthur S. Huey

AS the end of the collegiate year approaches, the problem of student employment again becomes acute. This subject divides itself into two phases: (1) employment prior to graduation and (2) employment following graduation. "Experience is the best teacher," according to the old adage, and the student needs all that he can get. He is afforded every opportunity to reap from his books the theories and principles of scientific and engineering practice, and occasionally he is privileged to make field trips to observe the practical side of the subject. But it is not enough for one to know the theory and to observe its application; it is also desirable for the student to get the feel of the tools during his training Such opportunities can only be afforded the student if the major companies cooperate with the universities in giving the student part-time and vacation work.

Jan 1, 1932

By Gyan S. Rajhans

"The strategy of fibrous dust sampling is discussed, various sampiing methods are critically reviewed .and their application to coal dust is demonstrated. Fibre counting is described in detail. An attempt is made to explain the basis of determining the threshold limit value of asbestos and other dusts. The paper also discusses such dust control methods as enclosure of the process, effective local exhaust ventilation, segregation, substitution, wet processing and continuous monitoring of the return air for recirculation."

Jan 1, 1970

In 1970, the U. S. Bureau of Mines contracted with Theodore Barry and Associates, a management consulting firm, to perform a one-year industrial engineering study of working-face hazards in underground bituminous coal mines. The field data was accumulated from industrial engineering observations in fifty underground mines. Supporting data for the analysis was derived primarily from the Bureau's fatal accident reports for the years 1966 through 1970. This report, Industrial Engineering Study of Hazards Associated with Underground Coal Mine Production, consists of three main parts: 1) The Fatal Accident Reports Analysis, 2) The Industrial Engineering Analysis, and 3) Multiflow Process Charts and Standard Time Data. The Fatal Accident Reports Analysis (Volume I, Section II) is based upon individual USBM fatal accident reports for 1966-1970. These were read, coded and computerized in terms of 84 significant variables. Cross-tabulations of these variables have been used to identify major underground hazards and to quantify significant causal factors. A very strong relationship was found to exist between fatal accident occurrences and low task experience. This led to a recommendation for formalized training, certification and supervision programs for miners. Victim compliance with federal regulations, mine regulations and supervisor instructions was analyzed, indicating that supervisors provide the most crucial communication link to workers. Thus, every attempt should be made to ensure the competence of immediate supervisors in the industry. Analysis of roof fall variables revealed a fatal propensity on the part of the miners to work under unsupported roof or under support conditions that are marginal. The technical approach to the problem is to make it physically impossible for a miner to work under these conditions; the behavioral approach is to ensure adequate training and develop proper safety attitudes among the miners. The Fatal Accident Reports Analysis revealed a need for normalizing data to interpret the results more accurately.

Jan 1, 1971

Optimum selection of explosives by means of monitoring explosive performance can lead to increased profitability through the control of fragmentation, a reduction in hangingwall and footwall damage and overall drill and blast costs. Studies conducted at the Mount Lyell Mining and Railway Company underground copper mine evaluated in situ the performance of four explosive types. Measurements included monitoring the levels of induced shock energy and the attenuation thereof with distance. The velocity of detonation (VOD) of these explosives was also measured using in-hole techniques. Assessment of these results, together with a knowledge of the rock mass strength, facilitated the selection of an explosive that was best suited to the given rock mass conditions.

Jan 1, 1995

By K. N. Subramanian, H. Kanduth

"It is well known that chalcopyrite can be dissociated into simple sulphides by heating with elemental sulphur at about 475°C:CuFeS2 + S -> CuS + FeS2Experimental work was undertaken to determine whether this ""activation"" could be used to advantage in the selective leaching of copper from chalcopyrite concentrate.A method of treating copper concentrate with molten sulphur was developed and the activated product was leached in dilute sulphuric acid using oxygen, ferric iron or manganese dioxide as the oxidant. The object was to obtain a solution suitable for electrowinning with minimal purification, but it was impossible to obtain rapid extraction of copper without simultaneously dissolving a large proportion of iron. This was attributed to the fact that some of the copper was present as a low iron-copper sulphide (idaite) and that the pyrite formed during the ""activation"" step was more easily oxidized than natural pyrite."

Jan 1, 1973