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By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Ronald Althouse

During the past five years under contract with the U. S. Bureau of Mines (BOM Contract J0308002). West Virginia University's Mining Extension Service (WVU-MES) has designed, developed) and delivered to the mining industry a comprehensive training program for Mine Rescue (MR) teams and a management planning tool for Mine Emergency Preparedness. The Mine Rescue team program is systematically built on a set of training objectives, backed up by content, allowing mine operators to conduct team training activities. These materials are user-ready, provide the MR principles and practices for both initial and advanced training, and supply teams with exercises geared to problem-solving activities. In addition to an instructor's program guide, the eight (8) modules that comprise the initial (20 hour) MR training are: an Introduction to Mine Rescue, an Introduction to Self-Contained Breathing Apparatus (SCBA), a set of modules covering each approved minimum 2-hour SCBA (i.e.) the Draeger BO 174-A. the McCaa) the Aerolox. & the Scott Rescue-Pak), and a manual on Auxiliary Apparatus as well as the Chemox Auxiliary SCBA. Advanced, annual refresher training (40 hour) is covered by seven (7) modules that spell-out the principles and practices needed to establish surface organization, to handle mine gases as well as mine ventilation, to conduct exploration, for fires, firefighting, and explosions, to rescue survivors and recover bodies, and to accomplish a mine recovery. Approved by MSHA in 1984 to meet requirements for 30 CFO. Part 49, these materials provide a basis for trainers' instruction, for comparison of team capabilities, for modifying programs resources, and services, and for program planning. The Mine Emergency Preparedness Program (MEPP) is used by management as a tool in the preparation of company personnel for handling a mine emergency operation. As a wholly new program. MEPP depends upon development of a Mine Emergency Organization and Emergency Operations Procedures. It also requires regular scheduling of drills) periodic mock emergencies, and evaluation of organizational responses and program performance beyond required training of mine rescue teams. MEPP materials are arranged into three sets of guides: 1) the Preparedness Program System Guides include an Executive Summary, a Program Director's Guide Mine Emergency Organization, and Emergency Operations Procedures; 2) the Emergency Organization (MEO) User's Guides cover the Rescue and Advisory Division, the Technical/Safeguarding Division, and the Surface Support Division; and 3) the Emergency Procedures (EOPS) User's Guides detail Containment Level Procedures, Notification Level Procedures. Mobilization Level Procedures, and Deployment Level Procedures.

Jan 1, 1986

By R. G. O'MEARA, Alexander M. Gow, W. T. SCHRENK

Lime is used extensively in the various industries. The National Lime Association in an excellent and recent bulletin lists 23 important in- dustries in which lime plays a vital role; and it thereby justifies the statement that "Lime is one of the most versatile and widely used reagents in the chemical and industrial world." There is, however, one application of this "universal" reagent which has not been mentioned. It is the use of lime in the flotation of ores. An appreciable percentage of the lime produc- tion is consumed by ore-dressing plants. The uses of lime throughout all the industries are more or less re- lated, but "lime" is a broad term; the varieties of lime are more mumerous than the limestones from which it is made, and its use involves a complicated technique. The interrelated application and growing importance of lime in flotation warrant this additional publication on the various "limes," with emphasis on those uses related to the function of lime in flotation. ཁྐྲ་ Lime in water treatment, cyaniding, and amalgamating will be men- tioned, after which its use in flotation will be taken up. This compendium was prepared by the Mississippi Valley Experiment Station of the United States Bureau of Mines and the Missouri School of Mines and Metallurgy, Rolla, Mo.

Apr 1, 1931

By C. W. Jr. Waterman

INTRODUCTION MY SUBJECT is one which would require several speakers and many hours of time for adequate presentation in all its many facets. Because of the widely varying market requirements and coal seams mined, the coal industry of the United States bas of necessity employed many types of preparation facilities to satisfy its needs. Predominance of Baum-type jigs, however, bas marked the mechanical cleaning installations since the early thirties, and these machines continue to hold the lead. CLEANING As a matter of record we find that, at the end of 1948, we had 480 mechanical cleaning plants in operation. Of these, 19 used air cleaners only,?400 used water washers only, . and 61 used dry and wet washers in combination . Due to the increased use of spray water underground on cutting and mechanical mining equipment, there has in recent years been a marked downward trend in dry cleaning installations. In fact, the moisture in dry-cleaned fines has been increased to such an extent by spraying that recent dry cleaning installations have incorporated thermal drying ahead of the dry cleaning units in an effort to overcome the varying and increasingly higher moisture percentages in their raw coal feeds. While on the subject of dry cleaning, it might be well to bring to your attention one of our most recent developments in this art. I refer to the McNally-Brusset vacuum jig.

Jan 1, 1951

By Brian Sandhuas, Robert McClure

All flyrock incidents have the potential to result in injuries or fatalities that can result in loss of company reputation, license to operate with clients, and bear the exposure to high cost liability. From 2007 to 2009, one North American Quarry and Construction Business experienced a series of flyrock incidents. In the spring of 2009, this business declared that the frequency and severity of Flyrock Incidents had reached an unacceptable level. A Flyrock Elimination Program was launched.

Jan 1, 2012

By P. M. Pearson

This paper describes the principles ()f systems engineering and their application to the various transport problems confronting the mining industry. The organization of mining operations into sub-system design problems is explained.

Jan 1, 1970

By G K. Robinson

Variations in many aspects of physical and chemical grade are often of concern to mining operations and mineral processing plants. In most circumstances these amounts of variation are predictable. At the time of planning new operations, we should be able to predict the amount of sampling and testing variation which our sampling devices, laboratory procedures and on-stream analysis devices will achieve. We should know how well our stockpiles, reclaimers and bins will homogenise material (or whether segregation will actually increase the amount of variation). We should be able to predict the amounts of variation that will occur on the important time or tonnage scales at the crucial p oints in our proposed operation. And once these amounts of variation are reliably known, mine planning will seem a little bit more like dealing with known knowns rather than like dealing with unknown unknowns.The first step towards quantifying amounts of variation for planned operations is to assess amounts of variation for existing operations. How many operations have estimates of amounts of variation in their databases? How often are people able to partition amounts of variation into amounts due to sampling error, amounts due to sample preparation, amounts due to assaying, and the amount of real variation in the stream of material?CITATION:Robinson, G K, 2012. Making sure that the amount of grade variation is a known known, in Proceedings Project Evaluation 2012 , pp 159-162 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Tim Gitzel

Thank you for your introduction, and thank you to the CIM for inviting me to make a presentation to you today. This is my first opportunity to report to you on the status of the Canadian uranium industry and I am pleased to tell you that the industry is in good shape, and well positioned for the future. As you will no doubt be aware, Saskatchewan benefits from the world?s largest known highgrade deposits of uranium as well as from a high level of provincial, public and northern community support. It is within this unique combination of geology and community that our industry operates. Uranium markets have been extremely competitive for a number of years for several reasons. First, deregulation in the nuclear electric power industry has tended to encourage fuel buyers to use up their large inventories built up at a time when rapidly increasing demand was anticipated. Second, alternate sources from surplus commercial stocks, military materials and reprocessed fuel have presented a major additional source of uranium supply. Today, these secondary supplies are meeting about half of uranium reactor feed requirements. Canada (that is, Saskatchewan) is the world?s largest ?natural? uranium producer with about a third of the global production. Saskatchewan?s mines produced more than 30 million pounds of yellowcake in 2002. Despite low prices, steady demand for uranium will continue. In fact, an increase in world uranium production in 2002 helped feed a more than 3 per cent increase in reactor fuel demand. Low cost production is important for surviving low market prices, but investments are based on longer-term strategies rather than simply responding to market cycles. Cost is not the only issue. In these times of increasing regulatory and public scrutiny we must continue to earn the trust of our stakeholders by adopting the highest standards and staying on the leading edge of technical, social and environmental developments. Managing these issues is as important as traditional concerns of ore grade and cost of production. The last two decades of the 20th century saw the Province of Saskatchewan rise to prominence as the leader in uranium production from facilities, which were at the time deemed world class. These facilities are now either at - or nearing - the end of their production years. We are now bringing on new facilities that will position Saskatchewan to remain the world leader in uranium production for many years to come.

May 1, 2003

By David Morrison

"The history of the mining industry is littered with in-pit crushing and conveying (IPCC), which should not be confused with the International Protocol for Carbon Capture, projects that failed. The failure is not the technical one of “did it achieve the desired tonnage rate for a longish test period” but, rather, the far more important one of “did it provide return on the investment in the manner that was promised?” While quite a few can claim the former, very few system installations can claim the latter.The reasons for the many failures are numerous, but they are all characterized by a combination of an element of engineering optimism in any, or all of the production rates, the productivity, or the operating and maintenance costs and in predicting the continuity of operating conditions. In these days of big data, propagating such a situation is rapidly becoming unforgivable.In this article, the three most common scenarios put to the corporate board for approval, and the logic as to why they were selected, are examined (with the irony included intentionally).• Fully mobile crusher, fed by a shovel and conveyed out of the pit to a waste dump / process plant.• Semimobile crusher (much more expensive than a fixed crushing station but which apparently allows trucks to short haul inside the pit and improve productivity), which moves when the face moves.• Relocatable crusher (more expensive than a fixed crushing station but which gets relocated at great expense after all the fixed infrastructure impeding relocation is demolished) fed by trucks that don’t leave the pit mostly.This paper will also consider the truth about their operational performance and associate costs."

Dec 1, 2016

By R. C. Wallace

In the early explorations of the Northwest, the search for minerals played a not inconsiderable part. The first episode had its disillusioning sequel. Sir Martin Frobisher, in 1576, sailed up that bay in Baffin land now known as Frobisher bay, thinking that he had the coast of Asia on his right hand. He brought back from this expedition a piece of 'black earth' from Hall island, from which an alchemist by coaxing nature, or his own conscience, obtained gold. A second expedition of three ships was fitted out in 1577, and a third of fifteen ships in 1578. The ships were loaded with this 'black earth', which on subsequent investigation was found to be worthless, and interest in minerals for the time being ceased. In 1612 Hall and Baffin went in search of a gold mine near the Arctic circle on the west coast of Greenland, reported to be worked by the Danes. They found old workings, but no ore. To come nearer the Hudson Bay area, it is noteworthy that the charter granted by Charles II to the Hudson Bay Company in 1670, as a result of the explorations of Radisson and Groseillers, was given "-in consideration for their having at their own cost and charges undertaken an expedition to Hudson bay in the northeast parts of America, for the discovery of a new passage to the South sea, and for the finding of some trade for furs, minerals and other considerable commodities, and of their already having made by their undertakings such discoveries as did encourage them to proceed farther in pursuance of the said design, by means whereof there might probably arise great advantage to the King and his Kingdom - ".

Jan 1, 1925

By Frank Ebbutt

In this paper it is proposed to point out certain structural factors that; have an important bearing on gold deposition. The subject will be treated; more or less generally. Although the writer has had access to a great many; of Canada's gold mines he does not wish to take the liberty of discussing; details of any particular mine or mines; the aim will be to discuss controls; that are evident in many places.

Jan 1, 1954

By Deborah A. McCombe

"There are a number of important dates that must be disclosed when a Qualified Person (QP) is preparing a technical report for securities purposes. The dates are discussed in NI43-101 and the Form of the Technical Report, NI43-101F1. •,Effective date of the technical report •,Possible revision date of the report •,Effective date of mineral resources and mineral reserves •,Date of the personal inspection (site visit) •,Signature date of the date report (execution date) •,Date of the certificate of the QP •,Date of the consent of the QP The effective date of the report is basically the cut-off date for the information that is included in the technical report. The effective date should be close to the signature date. If there is too long a period between these dates, the QP runs the risk of new material information becoming available and then the technical report would no longer be current. The effective date is disclosed on the title page of the report and on the signature page. If a technical report needs to be revised to correct problems or disclosure deficiencies identified by the regulators, the QP will normally need to include a revision date on the title page of the report to distinguish the revised version from the original version. In these circumstances, the regulators will request that the original date of the report remain on the title page and the revised date will be below it. When a technical report must be revised, the QP must resign and date the signature page of the report and provide a new certificate and consent."

Jan 1, 2003

By Cyril Stanley Smith

ARCHEOLOGISTS, by use of the terms Bronze Age and Iron Age, indicate that metals have in the past determined the character of civilization. The relatively simple discovery by a primitive metallurgist that the addition of tin to copper both facilitated the production of castings and increased the durability of the product enabled hunter, warrior, and housewife alike to do things never dreamed of before. Similarly, the smelting of iron and the discovery of hardening methods greatly changed the arts of peace and war. Discoveries of low-melting-point alloys for joining and for making household utensils, and perhaps the adornment of a feminine form by sparkling precious-metal jewelry, have at times changed the destiny of a country. Bronze cannon, the cast and wrought iron Watt engine, copper transmission lines, and aluminum alloy aircraft, are cases of particular metals making possible the realization of an improved engineering design. Perhaps of the greatest influence of all upon civilization was the development of type metal. The rapid increase in the rate of dissemination of knowledge dates from the day that the technique of the pewterer was utilized in making rapidly reproducible and accurately sized letters for printing. It was not movable type, but metal type that was important, for metal castings could be made of identically the same shape and size at an enormous rate, and possessed excellent inking and wearing characteristics.

Jan 1, 1946

By AIME AIME

THE 123d meeting of the Institute was held in New York Feb. 14 to 17, 1921. The total registration was 1199, as compared with 1138 at the New York meeting in 1920. The weather was a strange and welcome contrast to that of last year, when New York was buried under six feet of snow as the result of the fiercest blizzard in its history. This year there was no snow, and the weather was said to be much more like an Arizona winter than New York. A complete program of the Technical Sessions is on p. 9. The discussions of the papers presented will be published in pamphlet form as soon as possible and will be noted in MINING AND METALLURGY in the usual way.

Jan 1, 1921

By D. L. Stevens

Following an in-depth scenario and strategic-planning exercise in 1997, Noranda's mine production goal was set at 500 kt/a (550,000 stpy) of both copper and zinc metal in five years. There had been no recent discoveries, reserves were shrinking and things had to be done differently and quickly. Change is now continual in Noranda's program. The following steps were taken: the exploration and business development groups were combined, teams were formed to search for and respond to opportunity; geologists were coached to become more business minded and engineers were coached to become more optimistic; the company went global; clear thresholds were set, marginal properties were farmed out and other properties were fast tracked; reconnaissance exploration was focussed where there was a clear competitive advantage; and Noranda became a "flexible" partner to juniors and seniors. Is it working? A number of successes, near successes and outright failures are discussed. The main result is a much higher rate of opportunity flux, which is essential for success in the mining industry.

Jan 1, 2000

By Harry L. Siebert

Pre-splitting was substituted for line drilling to achieve stable rock slopes and reduce excavation beyond the pay line on a Connecticut highway project in 1962-63. Changes have occurred in developing rock slopes that were not foreseen by Alan Bauer and Jim Scott who in the early days understood the relationship of explosive energy to stable slopes. Cushion blasting as currently used produces slopes designed to blend or complement the natural landscape with slope holes detonated after the main body of holes. Pre-splitting is the opposite. The best results have been achieved by detonating the pre-split line of the holes first to allow readjustment of the slope plane fracture and a separate blast for the main body of loaded holes.

Jan 1, 1998

The subject of my paper is one which, I am certain, has exercised the mind of every man on whom depends the safe and economical conduct of mining operations; particularly in this district where the enormous size of the ore body has necessitated the mine workings assuming a scale that was hitherto unknown in the history of Australian mining. I, therefore, approach the subject with the feeling that I am displaying considerable t.emerity, knowing as I do that the subject has engaged the earnest attention and thought of everybody immediately concerned in the extraction of the ore of this district, and particularly of the Broken Hill lode.I think I shall not be contradicted in asserting that a very large proportion of eur accidents are distinctly traiceable to inexperience on the part of the miner, and records at the mines and verdicts of coroners' juries in many instances uphold this assertion by showing that the accident under notice was the direct result of lack of knowledge of the conditions of the work, or, at any rate, of an error of judgment hardly conceivable in the experienced miner. That this assertion is correct may also be proved by visiting any of the mines of the district.To the experienced eye it will be evident at once that a very large number are not in way skilful in the use of their tools and, therefore, lack the experience which of necessity must be coincident with the acquirement of skill. Now in making this' assertion, I do not intend to be too sweeping...

Jan 1, 1903

By Roy A. Grancher

HAPPY BIRTHDAY Not only is 1971 the Centennial Year of the AIME, but it also marks the One Hundredth Anniversary of the United States Portland Cement Industry. On September 26th in 1871 David O. Saylor of Allentown, Pennsylvania, received his patent Numbered 119,413 for the manufacture of portland cement. "Cement" had been used in the United States before that. This was, however, natural cement - a direct product of rocks as found in nature, usually burned at low temperatures in open kilns. During the early 1800s this natural cement played an important role in such projects as the building of the Erie Canal. It was only after the Civil War that small amounts of high priced portland cement was imported from Europe. The successful use of this material in construction led to Saylor's experiments and subsequent patent for the manufacture of a scientifically controlled product in this country. These one hundred years have witnessed four major "ages" of cement . . . three of them occurring in the last quarter century since World War Two. The first age was the "Age of Development", a seventy-year period which saw the growth of cement and its concrete end uses as major construction materials. Next followed a period called the "Age of Demand" when, after the war, cement became in short supply relative to large building requirements. In effect a cement shortage existed. The decade of the Sixties proved to be the "Age of Reaction", with its courses of action coming in response to the problems that arose when the industry's expansion programs provided too much capacity. Today cement, and the concrete industries, find themselves entering the "Age of Reason". Overcapacity, low price, rising costs, and poor returns are several of the reasons behind that name, As these industries face the construction challenge of the Seventies, and beyond, the application of basic management principles (otherwise known

Jan 1, 1971

By Ralph Johnson, Philippe Gaultier, Loui Fauteux, Andrew Dasys

"This paper outlines the implementation of the Mechanic's Stethoscope from the earliest stages of development to the implementation at Brunswick Mining and Smelting. It details the cooperative efforts of personnel at Noranda Technology Centre (NTC) and Brunswick Mining & Smelting (BMS) during the technology transfer of the Mechanic's Stethoscope. It demonstrates how everyone worked toward a goal of developing a product that is accepted as a useful addition to the work environment.The Mechanic's Stethoscope is an underground vehicle diagnostic system consisting of computer hardware and software intended to assist mechanics in daily tasks. Its tools facilitate quick and easy access to any information required during the maintenance of an underground vehicle. Each tool presents vehicle condition data in a simplified manner. The additional information improves the mechanics understanding of the vehicle condition. The result is a healthier fleet of vehicles and faster diagnosis times.When introducing a computer based system into a traditionally non-computer oriented environment a concern is the acceptance of the system. This concern exists on many levels."

Jan 1, 1995

By Joanna LaForte

"IntroductionIn respect to The Human Dimension by M. Phyllis Bray, this author's impression is that research on long distance commuting (LDC) is long overdue. This type of mining is not new to many workers, especially those from areas such as the Maritimes, who have had to look for work away from their families for at least a decade. Perhaps to the industry the over-all set-up is new, but to workers who have faced mine shut-downs in their areas finding a job was the main objective and if the security of long-term employment was evident, then the families might join them later. This was the situation with which the writer' s family was faced.LDC LifestyleBeing the wife of an underground miner, the author has personally experienced this lifestyle for almost 10 years, and has never experienced accommodation in a company town. The first five years of marriage were spent in a small rural municipality within 50 miles of the worksite, but the town had industry separate from mining and was not affected by the mine shut-down.Since her LDC lifestyle began her family has been pretty much city-based, out-of-province commuters with two children and a third to arrive some years later. She therefore lived a fairly normal married life with a husband home daily. The author has experienced life with a husband who worked away for five-day stretches and then drove long distances to be home weekends or the portion of time left over from driving and fatigue. She has done the 3D-days in/l4-days out routine, and for approximately the past four years has been existing on a two-weeks in/two-weeks out ritual .The author does not agree that the ""bottom line is that mining families go where the jobs are"" . The miners go where the jobs are and the families fend for themselves with the assistance of the pay cheque making it home each pay period.Perhaps because there are many personal frustrations with this type of lifestyle, perceptions may be inaccurate. Having only dealt with underground operations, there may be gross differences between the pressures and demands of other forms of mining."

Jan 1, 1991