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By Ross D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market.RÉSUMÉRoss D. Lawrence graduated from the University of Toronto with a B.A.Sc. (Applied Geology-1956) and an M.Comm. (Mining Finance-1959). As a student and following graduation, he worked across Canada on a variety of mineral exploration projects.In 1962, he was one of the founders of Watts, Griffis and McOuat, and has practiced as consulting engineer since then. For the past 20 years, Mr. Lawrence has headed up the WGM valuation practice, responsible for a group of professionals which has carried out scores of valuations of mineral properties and mining companies. He is a Certified Minerals Appraiser of the AIMA and an active participant in professional affairs.INTRODUCTIONMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. You will hear from others at this conference about the use of cost and income approaches to the problem of valuing exploration properties. This paper will concentrate on market-based approaches. Market based-approaches are based on the principle of substitution and include such techniques as:??Comparable transaction analysis (sometimes referred to as sales comparison analysis).??Farm-in commitment analysis??Rules of thumbAre there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal committee of the Canadian Institute of Mining, Metallurgy & Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2003

By J. A. Halt, E. Larsen

"The Sydvaranger magnetite mine closed in 1996 due to low iron ore prices and was reopened in 2009. The flowsheet has remained more or less as in the old plant, based upon two grinding steps followed by magnetic separation. The magnetite is free of harmful elements and should be attractive on the high quality market. This requires a concentrate containing less than 2% SiO2, which previously was achieved by amine flotation. Amine was preferred because it could be used with sea water. The use of amine is now restricted by the Norwegian Climate and Pollution Agency. Therefore, testwork to replace cationic with anionic flotation was done. Activation of quartz with Ca or Mg ions prior to anionic flotation was shown by research from 1960 to 1980 to be effective under laboratory conditions. The old research results have been followed up in order to make a commercial process for Sydvaranger. Calcium activation works excellently with all Sydvaranger ores, including the ones containing amphibole minerals, but Ca activation requires the high and not environmentally friendly pH of 12.4. Magnesium activation at pH 10.5 is a little more challenging, because the maximum concentration of MgOH+ is about 100 times lower than that of CaOH+. Fortunately, the major impurity in the main Bjornevatn orebody is quartz, which responds well to Mg activation. The process does not appear to depend much upon water quality, as the silicates may already be activated during grinding and magnetic separation in recycled water. The new process is environmentally friendly, as only well-known household reagents are used; oleic acid or tall oil, dextrin, sodium hydroxide and magnesium chloride at pH 10.5.IntroductionThe processing plant of Sydvaranger Gruve AS (SVG) is located in the port town of Kirkenes in the northernmost part of Norway, 10 km by rail from the high-grade deposit of Bjornevatn. This plant has been able to beneficiate magnetite ore to up to 99.5% purity, as described by Sandvik and Malvik (2001). Using the magnetic properties of the ore and making the most out of its enviable liberation characteristics, the original plant consisted of ball mills and 600-mm magnetic separators. The plant was shut down due to market conditions in 1996 but reopened in 2009."

Jan 1, 2015

By Frank Haas

THE public generally has-become aware that there is something wrong with the coal industry and a clamor has arisen for an explanation if not a remedy for this disorder. It is only reasonable that this Institute be looked to for a diagnosis to show the way for some other .agency to prepare the patient for prescription or operation. The subject is extensive, widely diversified, and beyond the efforts of an individual to cover completely; one of the objects of this paper is the initiating of a symposium on the non- technical factors essential to an understanding of the bituminous coal industry. The present condition of the coal industry cannot be described in a few words but, in effect, it resolves itself into a simple statement: The average coal operator is losing money notwithstanding a firm conviction on the part of the consumer that he pays too much for his coal. Without enumerating the many and varied. factors which contribute to this condition, this paper will be devoted to the interrelation of taxation and ownership of coal and its effect on finance

Jan 1, 1930

By S. S. Burns

"AbstractShovels of 18 cubic yard capacity and larger are described which incorporate advanced technology and techniques providing performance and operation tailored to meet the needs of open-pit mining.To achieve the goal s of increased production at lower cost with consideration of maximum availability, lower energy consumption per ton and low •impact on pit power, Harnischfeger Corporation developed a solid -state drive system (""Electrotorque"" - P&H trademark) and applied unique transmission methods.To date, more than 250,000 hours of experience in different parts of the world under varying operating and environmental conditions has proven that the ""Electrotorque"" shovel is the shovel of the future, today.This paper will discuss the electrical features and touch briefly on some mechanical features.Introduction to ""Electrotorque""THE hoist, crowd, propel and swing machinery of an electric mining shovel are driven by direct-current motors.A D.C. motor is used instead of an A.C. motor because the torque output per ampere input is at a maximum and the fact that it is doubly-fed (armature and field ) provides optimum flexibility in control.The power that is available in the pit is alternating current power. It is therefore necessary to change or convert this A.C. power to D.C. power so that the D.C. motors can be used."

Jan 1, 1977

By Georg Petersen

El presente texto describe la historia del primer centenario de la industria petrolera peruana (1863 -1963). La revisión va desde la historia temprana del petróleo en la primera mitad del siglo XIX, desarrollo de la industria moderna del petróleo en el Perú hasta el estado actual de este.

Jan 1, 1964

This Bureau of Mines report is devoted to descriptions of systems that provide in-mine wired telephone service. Although they may incorporate other features, each system described functions to allow one telephone to selectively access another telephone. Except for the paper on Conventional Telephone Equipment, the equipment described is newly developed and specifically designed to satisfy the requirements of underground mine communications.

Jan 1, 1977

By Ted DePooter, Mun Wei Leong, Chad Frederick

Downtown Bellevue Tunnel (DBT) is part of Sound Transit’s $3.7 billion, 14-mile light rail transit system from downtown Seattle, across Lake Washington, to the cities of Mercer Island, Bellevue, and Redmond. The tunnel was the first Sound Transit East Link project and posed significant construction risk. This paper discusses implementation of design changes to the soft ground tunneling method, implementation of several technologies such as the use macro-synthetic fiber initial shotcrete lining, use of spray-applied waterproofing, and use of shotcrete for the final tunnel lining. These efforts allowed for significant time and cost savings to the project.

Jun 13, 2021

By Scott Rodibaugh

El presente trabajo describe las aplicaciones representativas de la PPC (pressure-powered centrifugue) en minería, diseño básico, función y la experiencia de aplicación de OEM de motores. Asimismo se detallará ejemplos de desempeño de campo de la PPC como experiencias en un sistema hidráulico de camión minero, un motor diésel de camión minero y una trituradora de mineral que lleva el circuito de lubricación. De otro lado, se abordan los métodos de análisis de laboratorio para detectar los rasgos clave del fluido y evaluar la condición del contaminante.

Feb 1, 2017

By James S. Wroth

The Act of Congress approved June 25, 1926 (Public Act 424, 69th Congress), authorized joint investigations by the U. S. Geological Survey and the U. S. Bureau of Mines to determine "the location, extent, and mode of occurrence of potash deposits in the United States." The particular deposits selected for exploration were the extensive rock-salt formations underlying large areas in western Texas and southeastern New Mexico, from which potash salts had been identified in the cuttings and sludges from oil wells drilled with cable tools. The evidence of these sludge samples was qualitative only and beyond definitely proving the presence of potash salts in the salt beds, gave little clue to the possible size, richness, or extent of the potash occurrences.

Jan 1, 1929

By C. K. Leith

IN telling the story of Canada's minerals many interesting and spectacular details will be passed over to permit pointing out some of the significant inter- national aspects. No country now has enough of all minerals for its own use. The problems of satisfaction of both national and world demands under these conditions have become international in scope, and history supplies no obvious solutions. The minerals of Canada are coming to play a prominent part in such problems. Production and Reserves In the last decade Canada has rapidly advanced in mineral production. In 1928 the total value of mineral products from Canadian sources reached 273 millions of dollars. Canada ranks first in production of nickel, first in asbestos, second in cobalt, third in gold and silver, fourth in lead and copper, and sixth in zinc.

Jan 1, 1929

By Cliff Holloway

The past year has been difficult for Canada's primary industries. The mining, oil and forestry industries have been hit by low prices and a reduced demand for natural resources. Foreign competition, militant environmentalists, the breakdown of the Asian and European economies and Canada's shrinking dollar have all put additional pressures on the commodity purchaser to buy smarter. It is easy to appreciate why operations and maintenance supervisors want the best performing product. It makes good sense. The challenge is to source that quality product while staying within the budget. The bottom line (price), however, often becomes the control- ling factor, usually at the expense of quality and performance. This is short-term thinking, often with expensive consequences.

Jan 1, 1999

By Noel A. Warner

Modern steelmaking is based on direct use of oxygen in high intensity batch reactors. A totally new approach is proposed in this paper, based on the view that pursuit of high intensity is unlikely to lead to successful coal-based continuous steelmaking. By substituting carbon dioxide and water vapor as the oxidants rather than using oxygen directly, the intensity is greatly reduced. Accordingly, subsurface formation of carbon monoxide bubbles can be avoided by careful manipulation of the three participating rate processes, gaseous diffusion, interfacial chemical kinetics and liquid phase mass transfer. Steelmaking can then be carried out without explosive ejection of molten droplets and the generation of micro-spray but rather in a controlled and fume less fashion. The vital component is the introduction of generic melt circulation technology. Three melt circulation loops in series are envisaged. Starting with a composite feed of iron ore fines, pulverized coal and lime flux, a metallized solid raft floating on molten iron is propelled out of the ironmaking loop onto the first of two downstream steelmaking loops. In the first, a liquid slag is formed, primary decarburization is undertaken not with oxygen but rather with CO2 and H2O and the melt is desulfurized. The semi-product stream enters the third melt circulation loop, where open-channel decarburization is effected along with dephosphorization to yield a low carbon steel product. Alternatively, the melt leaves the last loop to irrigate a packed tower countercurrent to argon at around 100 mbar to continuously produce ultra-low carbon (ULC) steel.

Jan 1, 2003

By B. N. Thompson

The main industrial minerals produced are non-metallic - clay, dolomite, limestone, pumice, salt, serpentine, and silica sand. The other minerals, some with minor production, include diatomite, feldspar, magnesite, sulphur, asbestos, and perlite. Energy and metallic minerals and aggregate are excluded from this account. These industrial minerals occur in a wide range of rock types and geological ages. For example clays are known from the weathering products of Cretaceous rhyolite and leaching of Eocene coal measures; from Quaternary weathering of contemporary loess and shallow marine sediments, and of greywacke of Triassic-Jurassic age; and from the hydrothermal alteration of Late Cenozoic acidic volcanic rocks.

Jan 1, 1982

By Andreas Cestonaro

Roll grade evolution in plate mill applications is traditionally following the development in hot strip mills. New grades normally find their way into service only after being successfully implemented in hot strip production. The majority of the plate mills worldwide are using work roll grades that have been invented before the 1980’s. But today the demands in the mills are pushed by sophisticated product mixes and longer rolling campaigns. The result of this development is a higher wear rate on the work rolls and as a consequence roll hardness is increased and advanced roll materials are used. The backup rolls are also affected by this. The wear rate is higher and the mechanical impact in terms of contact pressure and work hardening is increasing. This paper outlines the results of the roll grade development at Gontermann-Peipers and introduces new materials for work and backup rolls for plate mills.

Jul 30, 2018

By D Reid, J McKibben, M Noppe

International mineral disclosure standards and guidelines aligned with the CRIRSCO (Committee for Mineral Reserves International Reporting Standards) template were developed to inform stakeholders about the relative accuracy and confidence levels of publicly reported information and to support investment decisions, particularly when advancing projects through different development stages. The traditional stages range from early to advanced exploration, through pre-development (with Mineral Resources and pre-feasibility and/or feasibility levels of study) before the final development stages, where a decision to proceed with construction or production (or both) is made. The traditional definition of Mineral Resource and Ore/Mineral Reserve classification categories and techno-economic study levels (including Preliminary Economic Assessment (PEA), Scoping Study (SS), Pre-Feasibility Study (PFS) and Feasibility Study (FS)) were defined with pre-development project assessment in mind. As such, these definitions are not necessarily well aligned to the reporting structures required by operating mines which need to consider a range of timelines spanning short to long-term operating conditions. However, the same terminology and definitions are used, or expected to be used, by both project developers and mine operators when reporting resources, reserves and techno-economic study outcomes. This paper discusses how various stakeholders in the minerals industry (including competent/qualified persons, mining company leaders, investors, lenders and regulators), generally interpret the definitions of Mineral Resource and Ore Reserve categories in terms of the relative accuracy of the estimates, their link to techno-economic study levels and their contribution to life-of-mine (LOM) schedules. The paper examines the degree to which mining companies recognise, and apply, enhanced operational knowledge to reflect short-term views of the relative accuracy and confidence levels associated with publicly reported Mineral Resource and Ore Reserve estimates and forecasts. Furthermore, this paper explores how this knowledge is applied to support ongoing Mineral Resource, and particularly Ore Reserve, generation and reporting. This paper is informed by public data and responses to an internal survey prepared by the authors and completed in 2021 by several mining companies.

Mar 22, 2022

By W. Kempson

"Mining Companies have producing assets in increasingly diverse portions of the world. It is not uncommon that the owner, the design team, the mine contractors and the operators are all based in different countries. While these assets are always subject to the regulatory requirement of those countries there have not been international standards available to review and evaluate these assets. This becomes particularly important when considering safety critical items such as tailings dams, vertical shaft systems and autonomous vehicles to highlight a few. The work currently being completed in ISO ensures these standards will be available and will be generated by and subscribed to on an international basis, thus removing the potential for patriotic partisanship and ensuring safe and predictable systems are installed. This paper will discuss the benefits of the international standards, the structure of the teams and working groups who are generating these standards as well as the process by which the standards are generated. This will allow insight into the creation of the standard and will aim to demonstrate the “neutral” and technically strong manner in which the generation of these standards is achieved. In addition, the paper will discuss the standards which have been produced in the last five years as well as the current standards which are in place. The finale will discuss upcoming work and the timelines in which it is anticipated these will be completed. INTRODUCTION Mining Companies have producing assets in increasingly diverse portions of the world. While these assets are always subject to the regulatory requirement of those countries, there have not been international standards available to review and evaluate these assets. This becomes particularly important when considering safety critical areas such as vertical shaft systems, tailings dams and autonomous vehicles to highlight a couple. The work currently being completed in the International Organization for Standardization (ISO) ensure these standards will be available and will be generated by and subscribed to on an international basis, thus removing the potential for patriotic partisanship and ensuring safe and predictable systems are installed. The ISO/TC 82 – Mining was founded in 1955. This was an active committee until it was thought that the standards at the time were adequate and the Technical Committee was put on “Care and Maintenance”. In 2012 countries lobbied ISO to pull this committee from dormancy and restart it, this happened in in the same year."

Jan 1, 2019

By Martin McKinnon, Guy Reed, Russell Frith

"It is arguable that the development of reinforcing roof bolting systems has largely stagnated in recent times, primarily due to the prevailing industry view that few, if any, further improvements can be made to what currently exists. However, this paper contends that reinforcing roof bolting systems can be further refined by considering both the specific manner by which horizontally bedded roof strata loses its natural self-supporting ability and the specific means by which reinforcing roof bolts act to promote or retain this natural self-supporting ability. The Australian coal industry insists on minimising bolt-hole diameter to maximise load transfer and on targeting full-encapsulation by any means necessary. This has led to a significant, albeit unintended, consequence in terms of overall roof bolting effectiveness, namely increased resin pressures during bolt installation and the associated potential for opening bedding planes that may have, otherwise, remained closed during the bolt installation process. Given that the natural self-supporting ability of roof strata is strongly linked to whether bedding planes are open or closed, logically, minimising resin pressures should be a significant benefit. This paper focuses primarily on three key issues that relate directly to the function of the roof bolting system itself: (i) the importance of proper resin mixing in the context of maximising load transfer strength and stiffness, (ii) the importance of minimising resin pressures developed during bolt installation, and (iii) the importance of maximising the effectiveness of the available bolt pre-tension. All mine operators should be invested in improving the individual effectiveness of each installed roof bolt, even by relatively small incremental amounts, so this is an important topic for discussion within the mining community."

Jan 1, 2017

By T Honeyands, L Jelenich

We are currently witnessing large fluctuations in the relative price of ironmaking raw materials brought on by changes in the dynamics of supply and demand, market conditions, environmental regulations and technical factors affecting the iron and steelmaking process. From a customer perspective, it is the behaviour of iron ores in downstream processing that give them their value; their impact on the sintering or pelletising process and subsequently blast furnace ironmaking. It is therefore important to consider this value when developing projects, making mine planning/cut-off grade decisions and in setting price differentials for differing quality.This paper describes the use of the Marx value-in-use model to quantify the downstream value of lump iron ores. The Marx model consists of heat and mass balance modules for sintering and pelletising and a rigorous two-stage heat and mass balance model of blast furnace ironmaking. Mass balance and cost models are applied for steelmaking, casting and rolling. The use of a heat and mass balance allows accurate comparison of the impact of raw material properties on blast furnace operation. The impact of minor elements, such as alumina, silica and phosphorus, and metallurgical properties on ironmaking is described, and examples are given for the calculation of a lump premium.CITATION:Honeyands, T and Jelenich, L, 2015. Lump ore properties and their impact on value-in-use in ironmaking, in Proceedings Iron Ore 2015, pp 359–362 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By J. S. Stachulak

The Diesel Emissions Evaluation Program (DEEP), a research consortium formed in 1997 by Canadian mining companies, labour unions, and provincial and federal government departments, completed its work by mid-2006. This program, in which Vale Inco participated with both direct funding and in-kind contributions, investigated the ability of currently available technology to significantly reduce underground concentrations of diesel particulate matter (DPM) with high efficiency and low maintenance over a long-term period (years of life).While DEEP?s testing showed that engine maintenance is a critical component for lowering DPM, it was clear that reduction of DPM to the very low target levels of ~0.05 mg/m3 was not possible with maintenance alone. The best candidate technology for achieving low DPM levels was particulate filter systems. Furthermore, successful deployment of such systems was highly dependent on removing them from having to rely on human intervention for their regeneration. The search continues within Vale Inco to identify a reliable and rugged system.

Jan 1, 2009

By C Roche, G M. Mudd

The Morobe Province of central Papua New Guinea (PNG) has been mined for gold for nearly a century, although it is only in the past decade that large-scale modern mining commenced. The Hidden Valley gold-silver project began construction in mid-2006 and production by August 2009, and is located in the mountains above Wau in the headwaters of the Watut River. The mine is owned and operated by the Morobe Mining Joint Venture (MMJV), which also owns the Wafi-Golpu project, comprising the Wafi gold deposit and Golpu copper-gold deposit, situated in the Watut River Valley. Together they represent a potential mine of the scale of Ok Tedi or Bougainville or bigger. The MMJV is owned in equal shares by Newcrest Mining from Australia and Harmony Gold from South Africa. Although Hidden Valley was the first large-scale mine in PNG to engineer and build a tailings storage facility, poor environmental management during construction and early operations led to significant erosion of waste rock and sedimentation impacts throughout the ~200 km length of the Watut River. Since then, substantial efforts have been made to improve environmental management, especially waste rock placement and storage and water quality management. While the impacts from the Hidden Valley project appear to be reducing, the saga has heightened concerns by many along the Watut River and across PNG about ongoing impacts from mining.This paper presents the results of an ongoing project in the Morobe Province conducted by the Mineral Policy Institute examining the historical, current and future impacts of mining, including community views, social and environmental impacts and the monitoring and regulation of mining. Overall, there is a clear need to more fully integrate social and environmental issues into life-of-mine planning and go above and beyond regulatory requirements. In this way, some of the lessons learnt – by the community, MMJV and government – can be incorporated before, during and long after mining.CITATION:Mudd, G M and Roche, C, ?2014. Mining in Morobe, Papua New Guinea – impacts, assurance and self-determination, in Proceedings Life-of-Mine 2014 , pp 313–336 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014