Search Documents

By T. R. Ellis

The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned. Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis. Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers.

Mar 1, 2002

By G. C. Mackenzie

At the last Annual Meeting of the Institute, Dr. C. V. Corless sketched the potential mineral wealth of Canada so clearly, graphically and with-all so entertainingly that one's imagination was fired with the promise held out to future generations for the tremendous expansion of the mining industry in the Dominion. Posterity will undoubtedly witness the fruit of much of the geographical search and survey that is now carried on by our government mining departments. Year after year the work advances, slowly but surely, new areas are . explored, older areas are surveyed in detail, the information being compiled in maps and reports of incalculable value to the prospector, the engineer and the general public. The immensity of the task of exploring, geologically, the outlying portions of the country, with the ultimate view of making valuable mineral discoveries, may be visualized from a study of Dr. Corless' paper and the subsequent discussion which took place and one becomes impressed with the fact that three-quarters or more of the problem can be included under the word "transportation". For instance Dr. Corless said, "The few geological explorers who have penetrated to these remoter regions . . . . . . have as a rule been compelled to stick closely to canoe routes,"; Dr. Goodwin remarked, "This barren Laurentian granite, which is put down on the maps as covering the greater part of this area, is the best guess the geologist could make from travelling along watercourses Within the next few years . . . . . . the Timiskaming and Northern Ontario railway will undoubtedly be extended to James Bay . . . . . . In order that we may be prepared for the probable influx of prospectors when transportation facilities to tidewater are provided, I think all available information on this district should be gathered together in handy form." All three-Corless, Goodwin and Cole-emphasize the well-known fact that explorers, geologists and prospectors working in new country must stick to the watercourses and that transportation by rail, road or water has always been the all-important deciding factor in facilitating the exploration and development of remote districts. Dr. Corless did, however, suggest other means of transportation in stating, "The aeroplane will be of assistance in future study of some parts of these remote areas."

Jan 1, 1924

By Vic Miller

Highly variable milling properties within a geologically complex porphyry copper deposit owned by Kennecott Corporation in Nevada made it necessary to estimate the copper recovery and concentrate grade in areas where actual test data was lacking. The estimation was made by first determining the relationships between the desired metallurgical properties and the ore's petrology (i.e. copper mineral type, rock type and copper grade). This relationship was then combined with the already estimated rock type, mineral type and copper grade data in the mineral block model to predict the milling properties.

Jan 1, 1983

By S. H. Ash

No single factor in modern civilization has played a more important part in the lives of our people than mechanization in industry and to it civilization owes much of its progress. In no industry has mechanization met more opposition than in coal mining, where ?the introduction of mechanical equipment has been opposed on many fronts for economic and social reasons. The term 'mechanization? as used in this report refers to the application of machinery to cutting, loading, and transporting coal from the face to the mine cars. During 1933, 84.7 per cent of the underground production of the bitu-minous-coal mines of the United States (1) was cut by machines, while in Washington only 17.6 per cent was machine-cut. Information in this report has been obtained from personal observations and from operating officials in the Roslyn-Cle Elum coal fields, especially D. R. Swem, manager of coal operations, and Thomas Murphy, superintendent, of the Northwestern Improvement Company, to whom the author is indebted for assistance. INTRODUCTION Although Washington coal-mining problems relating co mining methods, ventilation, drainage, and preparation of coal have been discussed in many publications, little has been published on mechanization in this region, principally because it has not been accepted generally that mining machines, mechanical loaders, and conveyors are necessary or economically adaptable to the variable and steeply inclined coal beds of Washington. Production of coal in Washington reached its maximum in 1918, when 4,128,424 short tons were produced; from that year, the trend was downward until 1934, when production was 1,383,103 short tons, the lowest since 1898; for the past two years, production has risen steadily.

Jan 1, 1937

By Mark W. Booth

THE Dominion Steel and Coal Corporation, as a coal mining concern and as a steel industry, has much pumping to do, and the conditions are as varied as it is possible to make them. We are faced with handling large quantities of water at low heads, and small quantities of water at high heads. We have fresh water, we have salt water, and we have highly acidulous water (see Table II). Our pumping problems are concerned chiefly with mechanical reliability, continuous, reliable operation, first cost, and operating cost. The Corporation is actually expending more than 15 per cent of its power consumption at the mines in pumping water, and at the steel plant about 17 per cent; that is to say, 16 per cent of the Corporation's entire power consumption goes into pumping water ( see Table I). We are pumping out of the mines 2 ½ tons of water for every tan of coal that is produced. At the Steel Plant, we are pumping 188 tans of water for every ton of steel we produce. (See Tables III and IV). The mine is pumping at high heads, up to as high as 1,400 feet in one lift ; in the Steel Plant it is, fortunately, at lower heads, 250 feet or 110 lb. being the general maximum. It behooves us, therefore, to look into the question of efficiency. In whatever direction we can gain something, it will be worth while. The centrifugal pump is not an adaptable machine. That is, a pump designed for some particular location and purpose will not always work efficiently if installed in some other place and used for some other purpose. It must generally be designed for the particular job it has to do. Reciprocating pumps are not so sensitive. We have Cameron plunger pumps that can be set up almost anywhere in a mine and they will work, but for big jobs they are apt to be clumsy and the driving power becomes a factor- which is, in fact, the controlling factor in deciding the type of pump we use. One disadvantage of the a.c. induction motor, however, is that its speed cannot easily be controlled. At its rated speed and output, it is a highly efficient machine, but, with any change in these, its efficiency goes all to pieces.

Jan 1, 1944

By T. R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and ExchangeCommission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2002

By J. Lu, D. G. Ivey, H. Henein

Microalloyed steels are widely used in the oil and gas industry. They are a class of high strength, low carbon steels containing small additions of niobium (Nb), titanium (Ti), molybdenum (Mo) and/or vanadium (V). These steels have good strength, toughness and excellent weldability, which are attributed in part to the presence of nano-sized carbides, nitrides and carbonitrides. In the pursuit of developing higher strength microalloyed steels, it is of great interest to quantify the size, distribution, volume fraction and chemical speciation of these precipitates. However, characterization techniques suitable for quantifying fine precipitates are limited. Possible characterization techniques include SEM, TEM and matrix dissolution. A comparison is presented of the various techniques.

Jan 1, 2005

By L Mikhael Gurieff, D Baas

The Phu Kham Copper-Gold Operation (Phu Kham Operation) is located in the Lao People's Democratic Republic and is owned and operated by the Lao-registered company, Phu Bia Mining Limited (PBM). Australian-headquartered copper and gold producer, PanAust Limited holds a 90 per cent interest in PBM; the Government of Laos owns the remaining 10 per cent. The Phu Kham Operation was commissioned in 2008 with an initial concentrator nameplate throughput of 12 million tonnes per annum (Mt/a). Subsequent improvement projects, including the Phu Kham Upgrade Project (PKU), completed in 2012, and the Phu Kham Increased Recovery Project (IRP), completed in 2013, increased the design throughput to 18 Mt/yr. In 2016, the actual mill throughput exceeded 19 Mt/a, this throughput is budgeted to be maintained until the end of 2020.The concentrator flotation circuit upgrade, completed during the IRP, called for a non-selective bulk sulphide concentrate to be generated from the rougher circuit. This in turn caused the mechanical flotation cells in the cleaner circuit, particularly those in the second cleaner bank, to become volumetrically overload. The overload reduced the cleaner circuit performance to approximately 92 per cent copper recovery at a 23 per cent copper concentrate grade, below the expected 95 per cent recovery. This bottleneck restricted copper units entering the plant to approximately 14.5 tonnes per hour (t/h) due to uncontrolled recirculating load build-up in the mechanical cleaning circuit.Maintaining the operating methodologies would have led to a copper production shortfall beyond 2016, to address this shortfall the Phu Kham Operation looked to optimise the Jameson Cell and mechanical cleaner circuit performance. The work included fundamental application of flotation practice and modelling, mineralogical analysis, bubble size analysis, plant surveys and test work. The results were used to develop and implement an innovative automated control system strategy incorporating flotation theory and operating strategies. The automation has the ability to quickly adapt to disturbances in the circuit and maintain optimised performance with little or no intervention by flotation operators.Upon completion, cleaner recovery increased to 95 per cent at a final concentrate grade of 23 per cent copper, and copper units entering the plant increased to 17.5 t/h.CITATION:Baas, D and Mikhael Gurieff, L, 2018. Developing flotation circuit control and automation for the Phu Kham Copper-Gold Operation concentrator, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 37–58 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By R Goater, P Kirsch, S Goater, I Goater

With staff productivity and retention a crucial factor in the longevity of AustraliaÆs mining industry, some mining companies are increasing their focus on the health and well-being of their people, to minimise the risks of deteriorating health in an ageing workforce. Many of AustraliaÆs mining operations rely heavily on long distance commuter (LDC) rosters, which are argued to have a significant impact upon worker health, wellbeing and lifestyle choices. The potential impact of workforce health on mine safety performance, efficiency and operating practice is an interesting additional line of enquiry. Food choice, exercise and recreation initiatives offer living and working conditions that æempower healthy choicesÆ in the shift worker community, but do not guarantee improved worker wellbeing. This paper explores first-hand the experiences of one individual over two and a half years of employment at different mine sites, under different shift conditions and across different operating crews. Novel insights and recommendations concerning the LDC lifestyle are offered through integrating reflections on one individualÆs fly-in, fly-out (FIFO) experiences in open pit mining operations from personal, family, professional and academic perspectives.CITATION:Goater, S, Goater, R, Goater, I and Kirsch, P, 2012. This life of mine - Personal reflections on the well-being of the contracted fly-in, fly-out workforce, in Proceedings Eighth Open Pit OperatorsÆ Conference , pp 31-40 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 18, 2012

By C. Özgen Karacan

This study presents the results of core-log analyses from the exploration boreholes, the analyses of face advance rates, and the results of downhole monitoring studies performed in gob gas ventholes for calculation of changes in hydraulic properties in the longwall overburden at a mine site in southwestern (SW) Pennsylvania section of Northern Appalachian Basin. In the ?rst part of the study, coal measure rocks in overburden strata were analyzed and the locations where possible fractures and bedding plane separations would occur were evaluated. In the second part, the hydraulic conductivities were computed by two different slug test analyses methods using the water level changes measured in gob gas ventholes as longwall face approached. Hydraulic conductivities were analyzed with respect to the changes in overburden depth, the locations of the borehole, and mine face advance rates. These data were used to interpret the potential productivities of the gob gas ventholes as a result of fracturing and changes in hydraulic conductivities. The general results showed that the probability of fracturing and bedding plane separations in the overburden increase between strong and weak rock interfaces. Also, the probability of bedding plane separations increases as the interface is close to the extracted coal seam. Evaluation of slug tests showed that the hydraulic conductivity developments in the boreholes and their potential production performances are affected by the underground strata and the roof materials. In situations where the roof material is stiff and thick, the development of high permeability fractures around the borehole will be less. Results also indicated that borehole location with respect to face position affects the fracturing time and permeability evolution as well. Greater overburden depths generally cause earlier fracturing as longwall face approaches, but eventually result in lower hydraulic conductivities and potentially less effective boreholes. Increasing mining rates also resulted in generally lower hydraulic conductivities in the overburden. The results of this study were intended to improve the interpretation of gob gas venthole performance and to provide better siting of these boreholes.

Jan 1, 2009

By Verne Huser

The intensity of environmental conflict, the delays and legal battles that have marked the 1970's suggest the need for additional processes to resolve environmental disputes. Our present means frequently fail to address the real issues separating individuals and institutions. They are primarily adversary processes that foster polarization and reduce cooperative efforts. At the Office of Environmental Mediation, we have no quarrel with adversary processes nor with polarization, for both serve as important spurs to necessary change. We do seek cooperation among parties at a point where there can be a realistic expectation of success in facilitating a resolution of their mutual differences.

Jan 1, 1979

By William F. Boericke

KIRKLAND LAKE and Porcupine in 1931 accounted for more than $41,625,000 of Ontario's total gold production of $43,117,688. For the first time, the younger camp surpassed the older in gold output, producing $21,734,000 against $19,891,000 for Porcupine. Present output of both camps is increasing, and should pass the record figures of 1931 before the year is out. In May of this year, Porcupine mines milled 285,759 tons, with a bullion value of $1,810,009; the corresponding figures for Kirkland mines are 149,188 tons and $2,104,757. A much higher average value per ton for Kirkland ore, $14.10 against $6.33 average for Porcupine accounts for the difference. The two fields are about 100 miles apart by rail, and there are important differences in the character of the ores, which accounts largely for the difference in milling costs and in final tailing values, despite excellent metallurgical work in both the fields.

Jan 1, 1932

By Grant C. Lukey, Jannie S. J. van Deventer

"The environmental effects of the mining and mineral industry include destruction of natural habitats, changes in river regimes and water tables, and other serious ecological impacts. In this century, it is likely that water will become a critical resource, and in most countries the mining industry competes for a share of this resource. The Kyoto Protocol may at first seem only relevant to the coal mining and power industry, however, it should not be forgotten that the mining and mineral industry is a significant consumer of power. Therefore the ratification of the Kyoto Protocol by most developed countries and the introduction of a carbon credit trading scheme will impact on the industry by potentially increased costs in utilities and waste discharges. It is clear therefore that the mining industry faces many challenges in the coming years. The mining industry?s commitment to sustainable development needs to continue to evolve, in order to meet these challenges effectively. With the advent of globalisation of the industry, it is now an opportune time for the industry to gain international agreement on how they want the industry to achieve sustainability in future years; such a progressive approach is necessary, otherwise government will force the industry to change, which may not necessarily be the best outcome for the industry.INTRODUCTIONThe Earth Summit in Rio de Janeiro in 1992 was an opportunity for world leaders to assemble and discuss strategies and initiatives that provide for further industrial growth without adverse effects on the environment. The World Summit on Sustainable Development held last year in Johannesburg, South Africa, was an opportunity to evaluate those initiatives implemented over the past 10 years, and to set a new and sustainable direction for the future. It is clear that industrial and technology development will continue at a rapid pace in order to serve the needs of a growing world population, but it is essential that the course of this development is well planned, well executed, and that it is sustainable. In reality, while government officials and politicians continue to debate policy and international protocols, the environment continues to suffer and the effects of climate change and global-warming become more real each day."

Jan 1, 2003

By MATT RENAUD, Mustafa Kumral

As high-quality mineral deposits are thoroughly exploited, mines of the future will have to move towards more remote and lower quality projects. With these projects comes an increased business risk to the operator. Even now, mining companies often turn to foreign countries for new deposits to produce, introducing the concept of country risk into their portfolio. Furthermore, feasibility studies often fail to accurately quantify the risks associated with various projects, and as such, this study proposes a technique of risk quantification which can both aid mining companies to evaluate the viability of investment and assist in risk disclosure to public investors for the mining industry of the future. This paper aims to quantify the effects of country risk on the valuation of potential mining projects, using a combination of modular and risk-weighting techniques to evaluate the country risk premium (CRP) required to obtain capital for operation of risky foreign mining projects. The techniques proposed in this paper are demonstrated using fictional examples and then evaluated for accuracy against a recently developed debt-funded precious metal project in a country in the Americas.

Sep 30, 2021

By P. W. J. Delport, E. Du Toit

Investing in a mining venture can be risky and stakeholders need transparent, unbiased reports to understand the Mineral Resources and Mineral Reserves a mining company holds. Readability and textual choice can be used consciously to manipulate perceptions, or it can be done unconsciously. This exploratory study investigates the readability and textual choice of supplementary Mineral Resources and Mineral Reserves Reports of companies listed on the Johannesburg Stock Exchange. The results indicate that narrative manipulation occurs in these reports through word choices that make the reports difficult to read, as well as specific narrative selections. This reduces the informational value of the reports. The results of the study will be useful to various stakeholders, such as mining company management, investors, investment specialists, financial analysts, and even employees and the general community, who all use these reports to make important decisions. It is also useful for the preparers of the Mineral Resources and Mineral Reserves Reports, Competent Persons, and other technical specialists to be aware of readability and that certain textual choices can affect the interpretation of these reports. It is recommended that bodies such as the JSE and the SAMREC and SAMVAL Code committees consider adding a plain language requirement to regulations, guidelines, and codes to ensure transparent, unbiased, and objective reports.

Mar 1, 2021

By M K. Nahian, R G. Reddy

The thermodynamic model for species distribution in aluminium chloride (AlCl3) and 1-butyl-3- methylimidazolium chloride (BMIC) system was developed. The experimental thermodynamic data, considering a range of aluminium chloride species, such as AlCl4-, Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6 were used in developing the model. When the XAlCl3 was in the range of 0 to 0.50, only anion species Cl- and AlCl4- were existing in the solution. As the XAlCl3 value increased more than 0.50, the available anions were Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6. Specifically, the concentration of Al2Cl7- increased in the composition range from 0.50 to 0.67 XAlCl3, after which it decreased. This change in the concentration of Al2Cl7- was due to its reaction with excess AlCl3, leading to the formation of Al3Cl10-. The average cathode current density was determined by the electrochemical experiments varying XAlCl3 from 0.50 to 0.71 in the AlCl3:BMIC solutions. The average cathode current density increased as the XAlCl3 increased from 0.50 to 0.67. However, it decreased when the XAlCl3 > 0.67. This trend can be attributed to the electroactive species Al2Cl7-. The Al2Cl7- promotes the reduction rate at the cathode, resulting in an increase in the average cathode current density.

Aug 21, 2024

By Stephen G. Rieben

Almost everyone has at least heard of the two one-call systems which serve New England. They are "Call Before You Dig", which covers Connecticut, and "Dig Safe", which covers the remaining five New England states. Those of you who are more familiar with these programs know that it is our job to help guard against the accidental dig-ups of buried plant and to prevent facility service disruptions. We cover all types of buried facilities, from cable television to high pressure gas transmissions lines, telephone cables, electric facilities, fiber optics and everything in between

Jan 1, 1990

By A. L. W. Lips, B. P. J. Stevens, T. J. R. Barclay, E. Rothery, S. H. White

Discussion by B.P.J. Stevens of the paper, published in Trans. IMMA, vol.104, 1995, p.B1-B17, is presented together with the authors' response. Stevens questions the authors' radically different interpretation of the structural geology of the Broken Hill Block, considering that the descriptive part of the paper is a useful addition but that the conclusions are unwarranted on the basis of the data presented. A number of major points of disagreement are outlined and half a dozen additional minor points listed. In response, the authors admire Stevens's contribution to unravelling the geology of the area but defend their attempts to take the regional studies a step further, pointing out that he has misquoted what they wrote and arguing that because of the assumptions underpinning the derivation of the present stratigraphy it cannot be used to constrain structural models. With regard to shear zones, they cite the extensive earlier literature and refer to horizontal displacements shown on maps produced by Stevens et al. Detailed discussion follows of the stratigraphy and of the stratigraphic correlation problems resulting from failure to recognise the presence and significance of shears, particularly those parallel to stratigraphy. The remobilised position of the Pb mineralisation in the North Mine open cut is reiterated. It is concluded that there is an urgent need for systematic isotopic dating in the area to constrain the stratigraphy

Apr 1, 1996

A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994

By Charles Vaught, Michael J. Brnich, Roberta A. Calhoun

This document contains most of the materials needed to use the exercise. The main part of the document is the instructor's copy. It tells how to use the exercise, presents the objectives, the master answer sheet, the scoring key, and discussion notes to be used following the exercise. The next section summarizes results from field tests of the exercise, and reports the miners' evaluation of the activity. The last part of this document is three appendices. Appendix A is the exercise problem booklet. This booklet can be duplicated locally. The booklets are reusable. One is needed for every person in the classroom. Appendix B is the answer sheet. Copies of this answer sheet must have the latent image (invisible) ink answers that appear in Appendix C printed on them.2 Answer sheets are consumable. One is needed for each person or each small group of persons who work the exercise. Exercise Summary Read this section first. It determines if the exercise is appropriate for your classes. If you choose to use the exercise, examine the table of contents and review the remainder of this document. Type: Latent image Audience: Underground coal miners Length: 9 questions (30 minutes for administration and 30 minutes for discussion) Skills: Mine fire escape strategies/procedures Use of emergency breathing apparatus Knowledge of sensations experienced when wearing breathing apparatus Communication Location: Underground coal mine section, average 60 inch seam height Problem: You are the section foreman on the 17 Left longwall development section at the Paula Ann No. 3 mine. The section has been driven about 4,000 feet from 4 West Mains. One of the shuttle car operators took a call from the fireboss saying that there was smoke from an unknown source coming into your section. You attempt to contact someone to find out where the smoke is coming from but get no response. You assemble the crew and start riding out of the section on the mantrip when you encounter heavy smoke. At this point, you decide to take your crew and travel on foot in the belt entry that is on a neutral split of air. After traveling about 6 crosscuts in the belt entry, you encounter heavy smoke at which time you and your crew don your person-wearable SCSRs (PWSCSR). After donning the apparatus, you and your crew continue traveling outby in the belt entry. Near the mouth of the section, one miner in the group starts to have trouble breathing from his SCSR. Because breathing resistance is increasing with the length of time the apparatus is worn, the miner is "outbreathing" the device since his oxygen requirements are greater that what the PWSCSR can supply. Although you slow

Jan 10, 1999