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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

By William Gleason

"The mining industry tends to focus on very large numbers, whether it’s talking in terms of size of deposits, tons of material mined, the equipment used or the dollars spent. The numbers associated with mining projects are often in the hundreds of millions, but sometimes it’s the little things that can have the biggest impact.Take, for example, the Rosemont Copper Project in Arizona. Owned by HudBay Minerals, the Rosemont Copper project, when in production, is expected to be one of the largest copper mines in the United States, accounting for about 10 percent of total copper production with annual production expected to be 110 Mt/a (243 million lbs/year). However, the project is currently mired in a years-long permitting process. At the 2017 SME Arizona Conference in Tucson, AZ, Kathy Arnold, director of environmental and regulatory affairs for Hudbay Minerals, spoke about the project and the efforts to get it into production.She opened her presentation with the unfortunate news that her 2017 presentation would not be that much different than the 2016, 2015 or 2014 presentations she gave to the same conference. That’s because, as of Dec. 4, 2017, the project had been in the permitting process for 3,797 days, more than 10 years. The process began when Rosemont submitted its initial mine plan in 2006 and a revised one in 2017. The official start to Rosemont Copper’s National Environmental Policy Act (NEPA) started in 2008.In June 2017, the project received its Final Record of Decision from the U.S. Forest Service, moving it a step closer to production. Yet it still faces stiff opposition from opponents while it works to secure the Clean Water Act Permit from the U.S. Army Corps of Engineers and to complete its final mine plan of operations.In her presentation, Arnold said the long process taught her many lessons, including approaching things with a different mindset. More than 130 pages worth of public comments have been collected over the years. The concerns expressed range from lighting issues to pavement to preserving land for a jaguar that was spotted on the property and named El Jefe.“A lot of things that people worry about seem to be small things, but we had to have a different mindset and be open-minded to the concerns,” Arnold said. “That is the commitment we made.”"

Jan 1, 2018

By M. H. Solomon

After the global financial crisis of 2008, African mining is entering anew phase of development. The rapid withdrawal of emerging market funding from the critical exploration and development industries provided a hiatus in funding, a gap which was quickly filled by Chinese and other Asian investors. While the continent is still economically dependent on its extractive industries, the prevalence of Dutch Disease has undermined Africa?s ability to benefit fully from its mining, oil, and gas industries. While the extractive industries are closely related to many of the more fragile and failed states in Africa, it is equally true that the strongest states in Africa have mining-based economies. This paper explores the possible linkages between mining, strong and weak political economies, and poverty in Africa. It draws the conclusion that neither Dutch Disease nor Resource Course is a given in resource-endowed countries, and that it can be avoided if the mining economies in these countries are actively integrated into their respective broader economies and used to foster economic diversification. The author asserts that given the capacity constraints of many African governments, it is contingent on mining companies to become integrally involved in catalysing diversification around their infrastructure and supply chains.

Jan 1, 2011

By Qun Wang, Elena A. Alonso, Janusz S. Laskowski

Primary normal long-chain amines are insoluble in saturated brine. Their colloidal solubility (dispersion) in concentrated electrolyte solutions is strongly affected by the presence of surfactants (frothers). This paper shows that a better usage of alcohol type surfactants, which are commonly used in potash ore flotation as frothers, can significantly improve the flotation of both coarse and fine sylvite particles. A new process of potash ore flotation is developed, which includes premixing an effective frother with an aqueous solution of amine or emulsion of extender oil containing amine. With such a combination of flotation reagents, KC1 particles up to 5 mm in size float very well in the short flotation column, and particles up to 2 mm float in a mechanical cell; when used to treat fine fraction-containing sample, this method may as well provide an improved concentrate grade.

Jan 1, 1995

By William Gleason

With its 2011 acquisition of rival equipment company Bucyrus International, Caterpillar added underground mining and large shovels to its line of products and further solidified its standing as the leading mining equipment manufacturer in the world with solutions for every aspect of mining. When Caterpillar spent $8.8 billion to acquire Bucyrus, the global mining business was flourishing, as mining companies around the world worked to keep up with demands for nearly every commodity. Flash forward to 2013, and the global mining landscape looks very different. Lower demand for raw material from China and India and falling commodity prices have forced most mining companies to pull back on their production. The reductions from the mining industry have hit equipment makers like Caterpillar and Komatsu hard. In October, Caterpillar reported that its quarterly earnings had fallen 44 percent. The changing conditions have also changed the narrative from Caterpillar and other equipment makers to customers from offering solutions to move the most tons per hour, to now offering solutions for the lowest cost per ton. In September, Caterpillar hosted some of its mining customers and the trade press at its Tinaja Hills Demonstration and Learning Center near Tucson, AZ to talk about its range of products, from its MineStar System designed to help increase efficiency through better equipment management and planning, all the way up to the massive Cat 7495 and 7495HF electric rope shovel lines acquired through the Bucyrus takeover

Dec 1, 2013

By Joseph D. D?Annunzio

The report on cut and cover construction as assembled by the Organization for Economic Co-operation and Development covered 17 different countries based on a total of just under 400 individual replies of which about 30% of the replies were from the United States. In general, the review of replies to the questionnaire led to the impression that cut and cover construction is a very inadequate method which needed many improvements. This unfavorable judgment, however, resulted in the manner in which questions were asked rather than in the method itself, It can be concluded that the cut and cover construction method has proved itself as an excellent method and that it has reached a high degree of technological perfection, but inadequacies stilt exist, and for purposes of complete evaluation, comparisons with mining tunnelling methods should be carried out. The principal problem in cut and cover construction is the interaction during construction between the construction process and the existing use of the surface and subsurface environment. The greatest impediments to cut and cover construction have little to do with the physical works being constructed, but more with creating a site in which the work can be performed. Utility relocation, traffice maintenance, and protection of existing structures are major problems for the construction contractor, and too frequently receive insufficient attention in preconstruction planning and design. Some OF the areas in which research should be undertaken are as follows:

Jan 1, 1970

By Reno Sales

INTRODUCTION. THE geology of Butte possesses especial interest on account of the magnitude of the ore deposits, their extraordinary richness and persistence in depth. Since its discovery in the early 60's the district .has yielded, in round numbers, 6,000,000,000 lb. of copper, 260,000,000 oz. of silver, 1,250,000 oz. of gold, and a large but not definitely known number of pounds of zinc. This enormous metal production has been derived from an ore tonnage estimated roughly at 65,000,000 tons. At the present day, most of the important mine shafts have reached a depth of. 2,400 ft., while several are more than 3,000 ft., deep. At these-great depths rich bodies of copper ore are being exploited, showing no diminution in metal content as compared with the ores of the higher levels. The present (1913) daily rate of production is approximately 14,000 tons, of which 13,250 tons may be regarded as copper ore, although a small percentage of this is minable only because of the presence of

Jan 8, 1913

By W. H. Bassett

BERYLLIUM was discovered in 1798 by Vauquelin and the metal was first produced by Wohler in 1828 about a year later than his production of metallic aluminum. Beryllium remained dormant until about 1920 when the production of the metal by the electrolysis of a molten bath was carried out by Stock in Germany, closely followed by Dickinson in the United States and by Vivian in England. This may not have been the first time the electrolytic method was thus used but was the beginning of present-day methods. I believe the first commercial attempts in this country started with the Kemet Laboratories about 1924. Siemens & Halske in Germany were working on the same problem at about the same time. The work of the Kemet Laboratories was transferred to the Beryllium Company of America and later to the Beryllium Development Corporation. In 1926 1 made a considerable study of the beryllium¬copper alloys, using beryllium purchased from the Beryllium Company of America, and read a paper on this subject at the February, 1927, meeting of the A.I.M.E. However, I failed at that time to discover the properties of precipitation hardening which such alloys have in a very marked degree. After this publication the work on beryllium-copper alloys rested awhile. One cause for this was the difficulty of securing a supply of beryllium-at least at what might be considered a reasonable price. In 1926 the price was $200 per lb., a figure which held about the same both in this country and in Germany until the beginning of 1932, when it was offered here at $50 per lb. if taken in the form of a copper alloy which carried about 121/2 per cent beryllium. Somewhat later the 121/2 per cent alloy dropped to $25 per lb. of beryllium contained, which is the present price. Promise is made that with a greater consumption, production on a larger scale warrants a reduction in price to $10 per pound or less.

Jan 1, 1933

By Carson Sharp Beltch

The determination of aqueous cyanide is accomplished by either detection in the sample as collected or by removal of the cyanide of the collected sample, followed by detection. The direct determination of the cyanide content of a solution can only be used in the simplest of systems, since many interferences can result in errors. Thus the most widely used method for total cyanide determination involve the reflux distillation of the sample using heat, acid and vacuum or air flow. The basic theory underlying this analytical approach is that by reducing the pH, the quality of molecular hydrogen cyanide will be in- creased and can be removed from the solution by elevating the temperature. The hydrogen cyanide is then collected in a caustic solution and analyzed. The general approach of removing the cyanide from the sample by distillation represented a major advance in this area of analytical chemistry. It enabled the determination of cyanide in many additional types of samples. When it became apparent that the tightly bonded cyanide complexes were not being detected by this approach, many methods fox complex ion destruction were proposed. These methods usually involved low pH adjustment with oxidizing mineral acids, coupled with the catalytic decomposition of the tightly hound complexes. All off the complexes except the strongest could he broken by these methods. The catalytic reflux distillation step has been found to have some negative aspects, since many materials that can be distilled with hydrogen cyanide will interfere with the color development step and result in a false positive reading.

Jan 1, 1981

By K. Rainer Massarsch

"Part 1 of 2 By K. Rainer Massarsch, Geo Engineering AB, Stockholm, SwedenINTRODUCTIONConstruction activities, such as driving of piles and sheet piles, soil compaction or excavation generate noise and vibrations. In populated areas these can have a negative impact on the environment, disturb inhabitants and, under unfavorable conditions, cause damage to buildings and installations. This condition is aggravated by the growing public awareness of environmental issues and the increasing use of vibration-sensitive electronic equipment and machinery in industry. In many countries, environmental regulations are enforced more stringently and limit or even prohibit the use of impact or vibratory hammers. This development has restricted the use of cost-effective foundation methods, such as driven and vibrated piles and sheet piles.Vibration problems are gaining importance in many European countries and extensive research has been performed during the past decade, especially with respect to traffic vibrations (Massarsch, 2004). Significant progress has been made owing to the availability of high-quality field measurements and an improved theoretical understanding of how vibrations are generated and transmitted through soil layers. These findings can also be applied to vibration problems associated with construction activities. However, this information is not yet appreciated by the geotechnical profession and even less by the construction industry.This paper discusses the effects of ground vibrations on the surrounding soil and on buildings, with particular emphasis on the different mechanisms of damage that may occur. Guidance is given on the elements which should be taken into account in an assessment of risks associated with piling projects. A simplified method is proposed for assessing the risk of settlements or strength loss in soil deposits. Limiting vibration levels are presented, based on the Swedish standard, which can be used to assess the risk of damage to buildings. Aconcept to predict ground vibrations caused by pile driving and the mechanisms which control the propagation of ground vibrations, will be presented in the second part of this paper."

Jan 1, 2004

By T. Foster

The continuous operation of decanters in the mining industry relies heavily on the use of synthetic flocculants. Today, as plants seek to lower production costs by increasing throughput it is necessary to obtain optimum performance from the flocculant. Factors affecting such optimization include charge and molecular weight selection, and efficiency of mixing the highly viscous polymer solution with the feed slurry. Beyond maximizing dilution of the solution, the last factor is often ignored. This paper describes a series of calculations, based on fundamental transport theories, that have been used to describe flow conditions within decanter feed wells and to help select flocculant addition points. Examples are shown for the case of hydroxamated polyacrylamide flocculants in the Bayer Process, where proper selection of the addition points can result in lower flocculant dosage and better control of the decanters.

Jan 1, 1996

By J. K. Mudge, T. Allen, P. B. Johnson

Approximately 6 years ago, Newmont Mining Corporation (Newmont) initiated reclamation/closure at its’ Hollister operation in Nevada. Reclamation/closure challenges existed at three primary areas within the operation. One the open pits had a small, low pH lake. The primary waste rock dump had a collection system for seepage of low pH solution. The heap leach had a typical inventory of process solution. In each of these three areas water quality and water quantity challenges existed. Reclamation/closure techniques were employed that utilized run-on controls, re-sloping, capping/topsoil placement, pit backfilling and vegetation for water quantity control. Water quality controls included installation of passive, anaerobic systems. These mechanisms have effectively limited water volumes that require treatment and effectively treated the water to meet standards.

Jan 1, 2003

By Luis G. S. Sobral, Gabrielle N. Bard

Copper sulphides Concentrates, from the flotation process of copper primary ore; contain, commonly, small amounts of precious metals, such as gold and silver. During the smelting process of those concentrate all gold and silver are practically in the blister copper, which is cast into anodes. Those copper anodes are electrorefined in an electrolytic system, where the electrolyte is an acid copper sulphate solution, where a high purity electrolytic copper is produced (>999,9/1000). The slime when submitted to an oxidative leaching process, using sodium hypochlorite and hydrogen peroxide as oxidizing agents, turn those metals into solution. This research practical work, apart from concentrating effort on the digestion of the anode slime, aims at evaluating the efficiency of the cementation process of the metals of interest for the separation of them to take place. 141

Jan 1, 2008

By G. M. Dunn

Pressure leach autoclave circuits are employed in the leaching of ores, concentrates, mattes, alloys and intermediates for the recovery of metals into solution. Once the metals are extracted into solution, the value metals can be recovered by hydrometallurgical means such as by purification followed by electrowinning, hydrogen reduction, pyrohydrolysis, crystallization and other unit operations. In many of these integrated flowsheets the pressure leach step is pivotal to the recovery of the value metals from the host material. Furthermore, the autoclave circuit invariably is a high capital cost component of the plant and an area that is carefully scrutinized when debottlenecking and capacity increases are being considered. This paper identifies a unique proven way of increasing the capacity of existing or new exothermic pressure oxidative leach autoclave circuits by as much as two or three times.

Jan 1, 2009

By G. M. Dunn

Pressure leach autoclave circuits are employed in the leaching of ores, concentrates, mattes, alloys and intermediates for the recovery of metals into solution. Once the metals are extracted into solution, the value metals can be recovered by hydrometallurgical means such as by purification followed by electrowinning, hydrogen reduction, pyrohydrolysis, crystallization and other unit operations. In many of these integrated flowsheets the pressure leach step is pivotal to the recovery of the value metals from the host material. Furthermore, the autoclave circuit invariably is a high capital cost component of the plant and an area that is carefully scrutinized when debottlenecking and capacity increases are being considered. This paper identifies a unique proven way of increasing the capacity of existing or new exothermic pressure oxidative leach autoclave circuits by as much as two or three times.

Jan 1, 2009

By Sir Robert Hadfield

SINCE the writer has been intimately connected with the development of manganese steel for many years, some remarks upon the early work with regard to the rolling and forging of this material might he of interest, and particularly as to the question of rails of special quality and of superior wearing qualities. In a paper on Iron Alloys, with Special Deference to Manganese Steel, read before this Institute at the International Engineering Congress in Chicago in 1893,1 the writer mentioned that, about 20 years ago, his firm in Sheffield produced railroad material, such as tires and axles, of forged and rolled manganese steel, thus showing that this product could be manipulated and worked up into the various required forms. The tires illustrated in the paper referred to above formed a particularly difficult class of work to produce in a special steel, but no special obstacles were met with Although there was no difficulty at that time in making and producing manganese steel in various forms, forged, rolled or pressed; nevertheless, on account of its higher expense, sufficient encouragement

Jan 2, 1914

By F. A. Rutledge

The Batesville district in north central Arkansas is one of the important sources of manganese ore and ferruginous manganese ore in the United States, with a history of production dating back to 1849. From studies by the Federal Geological Survey, it was recognized that the district probably still contains substantial reserves of low-grade ore. It was natural, therefore, that the deposits in this area should be among the first investigated by the Bureau of Mines under the Strategic Materials Act of June 1939, by which the Bureau was authorized to explore domestic deposits of strategic minerals, at that time designated as those of antimony, chromium, manganese, mercury, nickel, tin, and tungsten. The field work of the Bureau of Mines in the Batesville district was done in two distinct phases. Under project 308, active from August 1940 to June 1941, carbonate-oxide ores were investigated at five separate areas in which 100 trenches, test pits, shafts, and edits aggregating 4,364 linear feet were excavated and 839 samples were taken and assayed. Under project 323, in progress from February 1941 to January 1942, wad deposits were explored at 10 separate areas by 408 prospect shafts, churn-drill holes, and bucket-drill holes aggregating 23,680 linear feet from which 285 samples were taken and assayed. Processes for beneficiating the wad ores were investigated at ore-testing laboratories of the Bureau of Mines.

Jan 1, 1952

Removal of Thiocyanate from Solutions by Precipitation

Sep 13, 2010

By Bernadette Michalski

Although hydrocarbons accounted for more than 60% of Bahrain's income and more than 80% of export earnings, this island nation sustained one of the more diversified economies in the Gulf Region. The availability of low-cost natural gas for electric power has fostered the development of a significant aluminum refining and manufacturing industry with emphasis on vertical integration. The Bahraini iron pelletization plant, closed since 1986 due to financial problems, was scheduled to reopen by early 1989. Commodity Review Metals.-Aluminum.-Aluminium Bah-rain Bsc (Alba) attained record high production levels in 1988 taking advantage of favorable aluminum prices, which averaged over $2,000 per ton as compared with less than $1,500 per ton in 1987. Net aluminum production was nearly 13,000 tons over design capacity. Fewer standard ingots (52,081 tons as compared with 79,685 in 1987) were produced as Alba concentrated on higher value added products such as rolling ingots (42,324 tons as compared with 32,125 tons) and extrusion billets (60,934 tons as compared with 46,618 tons).

Jan 1, 1990

By D. Gupta, S. Weinig

This investigation comprises the study of dislocation-oxygen interactions in a! titanium and its effect on the ductile to brittle transition in titanium. Internal friction techniques using a low-frequency lorsion pendulum were used to study the oxygen atom interactions with dislocations in "superpurity" titanium. A calculation of the interaction energy between an oxygen atom and a dislocation, based on the "breakaway" strain resulted in a value of 0.015 ev as compared to theoretical values of 0.022 and 0.035 ev for edge and screw dislocations, respectively. Both the saturation of the room temperature decrement and the transition from ductile to brittle behavior occurred at 1.5 at. pct 0. It was proposed that the embrittlement was due to oxygen atoms immobilizing the dislocations. It was possible to increase the ductility of the Ti-0 binary alloys by decreasing the oxygen pinning. The increase in uniform elongation was 30 pct for an increase in the preanneal temperature of 300°C. ThE room-temperature ductility of a titanium is significantly affected by interstitial solutes. Although oxygen has a solid solubility of 15.5 pct by weight, the room-temperature ductility extends only to 0.6 pct.' The ductility precipitously falls at this concentration and the fracture characteristics change from ductile to brittle.2 The small effective bulk composition of solute required to destroy the room-temperature ductility of the titanium must be indicative of an in-homogeneous distribution of solute atoms. Internal friction techniques were used in this investigation to

Jan 1, 1960