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By CIMVAL

This Code for the Valuation of Mineral Properties (the “CIMVAL Code”) is the result of a review more than a decade after the release in 2003 of the “Standards and Guidelines for Valuation of Mineral Properties” (the "2003 Standards"). The purpose of the review is to update the 2003 Standards to reflect domestic valuation, international valuation, and regulatory developments. The CIMVAL Code was adopted by the Canadian Institute of Mining, Metallurgy & Petroleum (the "CIM") Council on November 29, 2019. The CIMVAL Code supersedes the 2003 Standards. The 2003 Standards were dated February 2003 and were adopted by the CIM Council on March 9, 2003 as the first comprehensive set of standards for Valuation of Mineral Properties in the Canadian mining industry. The 2003 Standards followed recommendations of the Mining Standards Task Force of the Toronto Stock Exchange and the Ontario Securities Commission, where in its Final Report (January 1999), the CIM was specifically asked to form a committee of valuation practitioners to review and advise on standards for the Valuation of Mineral Properties. The Special Committee on Valuation of Mineral Properties ("CIMVAL") was created on May 5, 1999 with the mandate to recommend standards and guidelines for Valuation of Mineral Properties to be used by the mining industry in general. The CIMVAL Code is limited to the Valuation of Mineral Properties (including any interests therein) and does not cover valuation of corporations or other entities that hold Mineral Properties as assets. The CIMVAL Code does not cover petroleum and related assets. CIMVAL recommends that the CIMVAL Code be followed for all Valuations of Mineral Properties, including those required by securities administrators and stock exchanges. However, when a Valuation is required under the applicable rules of securities administrators or stock exchanges, such rules prevail to the extent of any inconsistency.

Nov 29, 2019

By H. P. Hamlin, W. A. Grosh

Samples of clays , shales , and argillites from 21 locations were subjected to preliminary bench- scale tests for bloating properties , and several samples were tested for ceramic properties . Samples showing favorable bloating properties were further tested in a pilot - plant - scale rotary kiln . Physical characteristics and concrete -making properties of the bloated products were determined . The Decorah shale from one area made a suitable material for a lightweight aggregate ; however , the limestone layers in the formation must be eliminated or the resulting activated lime must be controlled by quenching .

Jan 1, 1963

By Mukund O. Gangal

A deep cutting continuous miner, HH456, was tested under production-mining conditions at the Joanne Mine, Rachel W. Va., for about 1 ½ years (226 production days). The miner was run in two modes: a low head-rpm, deep cutting and high rpm, shallow-cutting mode. These tests confirmed that deep cutting and slow cutter speed reduce respirable dust significantly under production mining conditions. Quantitative reductions in dust, in deep vs shallow cutting, were 73°; in return air and 63% at the operator's location. Production rate, (tons/shift), and bit consumption rate did not show any relationship to deep or shallow cutting. Reliability and maintainability of the miner were worse in deep cutting mode due to cutter drive shaft failures; the cutter shaft problem was solved through improved material and design. Excluding the cutter shaft repairs. maintainability war similar for deep and shallow cutting,

Jan 1, 1979

By E. Wolmarans

The selection of the main mineralised zone (MMZ) concentrator milling circuit has followed a comprehensive route over the preceding 10 years. Many knowledgeable parties have contributed and assisted in developing the milling circuit according to the best available information. The final selection of the flow sheet was completed after DRA conducted a techno-economic study on four possible comminution circuits ranging from conventional crushing and ball milling to fully autogenous (AG) milling. The results from all the above mentioned work indicated that it is possible to treat the MMZ ore at the desired throughputs to the desired grind sizes in a fully autogenous grinding circuit. The flow sheet was designed to treat the main mineralised zone (MMZ) arising?s from both underground and open cast operations and incorporates a fully autogenous grinding (AG) circuit. Commissioning of the 375ktpm concentrator at Nkomati Nickel began in August 2009 with the first ore reporting to the mill on the 15th of September 2009.

Jan 1, 2012

A new series of reports called ?Mineral Perspectives" (MP's) has been initiated by the Bureau of Mines with the publication of MP-1 titled, "Far East and South Asia" by K.P. Wang and the staff of the Bureau of Mines. This new series parallels the creation of the recently announced "Minerals Commodity Profiles" (MCP?s). Both series are designed to provide current information on important sectors of the mineral economy to assist professionals in government, industry, and education in monitoring supply-demand relationships that have significant impact on our domestic economy as well as on the international scene. The orientation of the "Mineral Perspective" series is a geographic one which examines the mineral situation of a region or a country. The "Mineral Commodity Profile? series examines individual mineral commodities. They are in this sense complementary.

Jan 1, 1977

By Edwin B. Wilson, Charles F. Cockrell

The application of evolutionary operation is proposed for the cleaning of coal by the heavy media process. Analysis of the data given suggests some benefits that may not be immediately appreciated unless evolutionary operation is applied. For example, while it may seem obvious to increase specific gravity when the ash and sulfur content of the clean coal is lower than that allowed, evolutionary operation may show that an increase in feed rate or an increase in both feed rate and specific gravity would be a more profitable alternative. In addition, by using evolutionary operation, up-to-date knowledge of the effect of change of feed rate or specific gravity on yield and product quality is available. This information facilitates confidence about decisions made in regard to the day-to-day operation of these units. A number of other applications in the minerals industry are proposed. An application of evolutionary operation in a related field is also given where a large number of variables were required to be optimized.

Jan 1, 1969

By Dirk van Zyl

Natural materials can be used successfully in the construction of heap leach pads. The use of these materials usually result in the least expensive approach for such facilities. Sufficient geotechnical experience has been gained in the design and construction of clay heap leach pads so that they can be used with confidence. A number of operators presently use clay pads in their heap leach facilities; these include Alligator Ridge, Ely, Nevada (gold), and Union Carbide, Gas Hills, Wyoming (uranium). This paper describes the construction and field investigation of a clay pad for the heap leaching of agglomerated precious tailings. The project is located in the Mojave Desert, Southern California. The design had to satisfy operational requirements as well as regulatory requirements. The California Water Quality Control Board (WQCB) was one of the agencies which had to issue a permit for the project. Their biggest concern was the discharge or escape of cyanide into the environment. Rather stringent requirements were therefore placed on the pad design criteria, especially in terms of permeability.

Jan 1, 1983

Operator efficiency and control capability along with cost effectiveness have been the quest of mining, industrial, and mobile hydraulic engineers for years. The majority of the functions in present day fluid power systems are controlled by on/off control valves. They are inexpensive and provide easy installation and operation, but they lack the quality of fine control of load flow or what is sometimes known as "feathering the load". An alternate approach to obtaining this capability is the use of electro-hydraulic servo-valves, but their implementation into a system is complex, and they are expensive. As a result, electrohydraulic systems are still used primarily in the aerospace industry. Of late, a compromise seems to have evolved between the on/ off control systems and the servo-technology is the so-called proportional flow control valves. A proportional flow control valve meters fluid to the load in proportion to the input command from the operator. In principle, it is similar to a conventional flow control valve and is tailored to meet the control requirements from the load point of view. The hydraulic system using this valve usually works in an open-loop mode with the operator closing the loop. Incorporating load-sensing mechanisms and adoption of electrical/electronic signalling into the valve make it the "ideal valve" which designers have been looking for from a techno-economic point of view.

Jan 1, 1983

By Donald E. Ranta

An ore zoning technique developed by Climax geologists during the past forty years has been used to contour drill-hole assay values on cross-sections for fourteen porphyry molybdenum deposits in western North America, including the Climax and Henderson orebodies. Detailed geological studies of these large, complex deposits are essential in determining ore controls, which are the factors most critical to the zoning of MoS2 assays and to conceptualizing geologic models. The technique provides a detailed representation of the size, shape, grade distribution, and geologic continuity of the individual deposits. It demands a disciplined approach and adheres to rigorous rules while maintaining flexibility for adaptation to widely varying geologic conditions. By defining the limits that guide and control manual, computer-assisted conventional, and geostatistical reserve estimates, it exerts a strong geologic influence on the estimation process. A combination of ore zoning and geostatistical analysis of molybdenum deposits produces a significantly more accurate, precise, and defendable geologic reserve estimate than other methods.

Jan 1, 1983

By B. B. Agrawal

Iron ore fines is an area of concern in India. A possible avenue is to use these fines for sponge ironmaking. Work has been carried out to pelletize these fines with coal and a suitable binder, and cure them in ambient atmosphere to retain in-situ reductant. Pellets were characterized for physical strength and metallisation. Critical factors were granulometry was percentage of coal & binder. In laboratory tests, pellets got metallized faster compared to lump ore. Large-scale trials were conducted in a 12-meter long rotary kiln plant. For 90% metallization, required residence time was only 60 minutes against 240 minutes for lump ore. Coal requirement also decreased. Investigations established the fast reduction nature of pellets. This is due to reduction-reactions occurring simultaneously at many sited within the composite pellets, in addition to the diffusion of reducing gases from the surface of the pellets to its core. The developed process is a value addition in the conventional pelletmaking and is environment-friendly also.

Jan 1, 2006

By Pratheesh George

Solid state galvanic cell with CaF2 as the electrolyte was employed for determining the thermodynamic properties of Nb-Al binary alloys in the temperature range of 973-1073 K. The activities and activity coefficients of Al in NbAl3 were determined. The experimental procedure and the design and construction of the experimental setup have been also explained in detail. Aluminum activity in NbAl3 increased with increase in temperature and shows a strong negative deviation from ideality. The activities of aluminum in NbAl3 were determined to be 0.0165 and 0.0289 at 973 and 1073 K respectively. The stability of NbAl3 has been compared with other available intermetallic systems.

Jan 1, 2006

By Charles H. Jacoby

The solution mining of evaporites has a history of approximately 5,000 years. The insitu leaching of metalliferous ore will have many of the same characteristic problems which have confronted industry for years in the production of evaporite minerals. Basically we will be converting the less soluble forms of valuable metals into their more soluble salts and producing these in much the same manner as, for example, sodium chloride. There are a number of problems which we are faced with that are more complex and complicated and, therefore, will require a higher degree of sophistication than previously employed. One of our most important undertakings will be the clearcut definition of the problems involved. While a great deal of expertise can be drawn from the solution mining of evaporites and the oil industry, problems peculiar to the hydrometallurgical field will need to be solved. One of these is the introduction of permeability into an impermeable rock so as to expose the sought after values of metals which by volume are infinitesimal when compared with sodium chloride, potash or other type water soluble mineralization. After establishing this permeability which will be miniscule when compared to a solution cavity, there will be the maintenance of this permeability. In general, salt deposits are of a somewhat uniform chemical composition and thus their chemistry was relatively simple. Each metalliferous ore body is somewhat unique in its chemistry and will need to be treated accordingly.

Jan 1, 1974

This paper focuses on the significant impact that geological information has in relation to the valuation, both equity market and accounting records, of mining companies. There are many different measures adopted by investors and analysts in valuing mining companies. In particular, focus is primarily on calculation of profit as it is the authors primary expertise. The importance of geological information to the calculation of profit (and to many other measures of a mining company performance) is not always understood by the geologist. The aim of this paper is to raise the awareness of geologists (particularly those who are competent persons under the JORC code) of the impact that reserve statements û and changes to û have on profits. This is the first time that this subject has been presented directly to geologists. Similar versions of this paper have been presented at other forums where other important users (directors, auditors, accountants, analysts, investors) or preparers of financial statements have been made aware of the importance of the geological information. In essence, all mining companies prepare annual financial statements, which are adopted by directors and audited. The major items that require judgement generally revolve around two areas û commodity price outlook and the accuracy of reserves and resources. Reserves and resources are important, and that there is undoubtedly a lack of understanding about the assumptions and accuracy of reserves and resources by accountants, directors and auditors, and a general lack of understanding by geologists as to how the information that they prepare is used. Across the globe the majority of mining companies are listed on stock exchanges (with the main exception being nationally controlled mining companies û eg Codelco). In a very simplistic manner, I have divided all mining companies into three types: exploration plays û these companies are still in the finding or proving modeÆ and typically the stock market and investors rely on geological information and remaining cash in determining their assessment of the company; single mine companies û the major items that investors and the stock market look for are reserves, inferred resources, commodity price outlook and discounted cashflow calculations; and multiple mine companies û the investment community and stock market are looking at reserves, inferred resources (generally to a lesser extent at this stage), commodity price outlook, discounted cashflow calculations and profit and loss accounts. Regardless of the type of company, the equity markets, including analysts, try to determine appropriate valuations for mining companies. In doing this the major two areas that require judgemental consideration are the commodity price outlook and the level of reserves and resources. Generally speaking, most mining companies have a strong understanding of their cost structures û in particular their cash costs as distinct from their accounting costs of production û and therefore this area generally gets less consideration than the other two matters mentioned above.

Jan 1, 2003

By Hardy J. Smith

The rock mass parameters which need be evaluated to estimate the rippability of rock are briefly outlined and their significance is discussed. Several methods used for estimating rippability are compared, and the advantages of taking into account a wide spectrum of rock mass parameters are emphasized. A systematic means of numerically weighing six rock mass parameters to produce a Rippability Rating (RR) is recommended, and a method of correlating this rating with the refraction seismograph method and with tractor horsepower is shown. Although the overall method demonstrated is systematic and yields specific numerical results, an integrated approach is recommended to its application, taking into account: the Rippability Rating; seismic velocity and geologic material; and other engineering judgment factors.

Jan 1, 1986

By G. L. Oldright

As a rule, the usual zinc retort smelter fired with natural gas made its own burners, of which there might be 300 per block, out of standard pipe fit-tings. The gas was discharged through a feeder pipe at various distances into a cylindrical horizontal "blow hole" through a pillar block and thence into the furnace; the best location of this gas-feeder pipe was at the horizontal central axis of the blow hole; the side entry into the blow hole usually was used. The air entered the same blow hole behind the gas, through a short nipple, in the inner end of which was a constructing orifice in a clay plug; in this ,work cone-shaped funnels of various lengths also were used. Even with the air and gas correctly proportioned to each burner, small differences in their dimensions were found to influence greatly the temperatures reached, their uniformity, and consequently the percentage of zinc extracted. This fourth paper of a series on cooperative work in the zinc retort plants of the Eagle-Picher Mining & Smelting Company discloses the methods and principles followed in approximating closely the optimum dimensions for various burners, with examples from experimental and commercial furnaces showing the interrelation of such dimensions with combustion and temperatures in the furnace.

Jan 1, 1948

By R. M. Imhof, M. J. G. Battersby, G. Ciernioch

Pneumatic flotation is rapidly becoming accepted in the main stream of flotation techniques. Imhoflot is a pneumatic flotation process that in recent years has undergone progressive development. It combines short flotation times with excellent selectivity by employing intense pre-aeration and dispersion. K+S GmbH (K+S), Germany, has installed a complete Imhoflot flotation plant at its Sigmundshall plant. The plant treats hard salt consisting of sylvine, halite, anhydrite and kieserite. The reason for selection was that Imhoflot achieves the required grades of plus 60 weight percent K2O whilst offering lower operating costs than conventional flotation installations.

Jan 1, 2002

By Tatiana Ravani von Ow, Leandro Bomvisinho

"The size of mills driven by ring-gear or by a gearless solution has significantly increased in the last years. This has created additional challenges for the driven equipment. The requirements for the mechanical devices and the power grid have become more demanding. Controlled soft starting and operation, especially in dual pinion mills, as well as the protection of the equipment has gained importance. The selection of the drive solution for the mill therefore becomes more critical. Besides the classical criteria such as performance, efficiency and capital costs other factors come in the evaluation of the system such as flexibility and optimization of operation, reliability and the ageing of the grinding equipment.Variable speed solutions offer significant advantages over conventional fixed speed drives due to their application specific features and process optimization capabilities, even for ball mills where these are not seen yet as a must.The initial capital costs are higher than some of the direct on-line solutions however the benefits for the operation during the lifetime of the mill generated by the use of converter solutions justify the additional higher investment.INTRODUCTIONThe method of powering mills such as AG, SAG and Ball has a long and technically interesting history. It can be said; almost every decade in the last half century had its own trend. The trend was dominated by the market demand, by the process development and requirement of the mechanical and the electrical technology but mostly by the price of the applied technology.All has started about 50 years ago with mill diameters less than 20 feet driven by fix speed synchronous or wound rotor motors with the power of about 2 MW. Around 10 years later, the mill sizes increased, but the necessary torque could not be transmitted by one pinion therefore dual pinion solutions were developed to power the mills. However, realization of the dual pinion solution was only possible when load could be evenly shared between the two pinions."

Jan 1, 2010

By Qiang Zhang

Hybrid composites are fabricated by adding two reinforcements into matrix materials so that the expected excellent properties can be achieved through the combined advantages of short fibers, and different size particles (micron or submicron), which provide a high degree of design freedom. In this paper, hybrid preforms were produced with the different size reinforcement of the Al2O3 particles and short fibers. The Al-Si alloy-based hybrid composites were fabricated by preform-squeezing casting route. The structure and performance of composite materials were studied with the Transmission Electron Microscopy (TEM), and Scanning Electron Microscopy (SEM). The results show that the reinforcements, both particles and fibers, distribute homogeneously in the matrix materials, and the properties of composites are found to improve in comparison with the matrix Al-Si alloy.

Jan 1, 2009

In Maryland, coal mining is confined to Garrett County and the western portion of Allegany .County. Terrain in both counties is predominately level with rolling hills; state law prohibits surface mining in steep slope areas. The Conemaugh and Allegany geologic formations contain five major minable fields or basins. These include: Upper Youghiogheny, Lower Youghiogheny, Castleman, Upper Potomac, and Georges Creek. Maryland's coal reserves are estimated to exceed one billion tons. Approximately 490 million tons of bituminous coal are considered recoverable using conventional mining methods. After World War 11, deep mining declined in Maryland, and by 1977 surface mining accounted for 91 percent of the total production. Since then, production at underground mines has recovered, accounting for 69 percent of the coal production in 1991. Maryland's permanent regulatory program was fully approved February 18, 1982. Its Abandoned Mine Land Program was approved June 16,1982.

Jan 1, 1992

By M. E. Breitrick

Newmont Gold operates the Carlin East underground, one of four underground gold mines the company operates in northeastern Nevada. Carlin East began full production in early 1995. The mine's current rate is 900 t/d (1,000 stpd), producing about 4.6 t/a (150,000 oz/year). About 125 hourly and salaried personnel are employed at the project for its estimated six-year mine life. Two mining methods are currently used at the Carlin East Mine. Longhole stoping with cemented backfill accounts for 70% of the total mine production. Conventional underhand drift and cemented fill accounts for the balance of the daily tonnage. In December 1996. Newmont purchased an AC-Eickhoff ET-210 roadheader. The machine went into service in mid-June 1997. It is used in longhole Stope topcut development and cut-and-fill production at a rate of 225 t/d (250 stpd)

Jan 1, 1998