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By Ross D. Lawrence

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

Jan 1, 2003

By M. G. Lipsett

"The Mining Information Technology User Group considers information to be a strategic enabler to improved business performance in mining. This ad hoc group has been meeting since 2000 to share knowledge and leverage their efforts in effectively using IT in mining. In this paper, core issues to mining IT are reviewed, along with initiatives to engage industry professionals and decision-makers in the potential for improved use of information in their operations. Relevance of IT to Canadian MiningMining operations always drive to improve their performance, and so far they have succeeded by using different technologies. While economies of scale have come in fragmentation and material handling, and energy usage has improved through conservation and design of integrated mineral processing plants, these systems have the net result of tightening operational constraints, through reduced excess capacity. There are higher opportunity costs of lost production when integrated, large-scale systems are operating in a sub-optimal way.The problem is that it is profoundly difficult to run a mine in an optimal way. Optimization requires a defined objective function (e.g., profit), which is hard to pose, let alone solve, because so many inter-related aspects of an operation affect the bottom line. Even for a small, well-defined process state, it is difficult to measure all the pertinent information with sufficient accuracy to ensure that the system is performing well in real time.The art of mining remains making good decisions with uncertainty: in the orebody delineation; in the allocation of resources; in the efficiency of the operation; in the reliability of components and systems; and in responding to the downstream market. As well, individual decision-makers need to know how their decisions affect other processes and systems, so that improvements in one part of an operation do not result in such degraded performance in the rest of the plant that overall profitability goes down."

Jan 1, 2003

By William E. Roscoe

"Non-producing mineral properties include those at various stages of exploration, properties at the pre-feasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. The market approach is applicable to all these types of non-producing mineral properties. Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage, but may be applicable to non-producing mineral properties with defined mineral reserves or mineral resources.The value of a non-producing mineral property depends on its perceived potential for the existence and discovery of an economic mineral deposit. The potential, in turn, depends on a number of factors which must be considered when choosing market comparables. These comparability factors include such items as geology, mineralization, stage of exploration and results, mineral resources, location and geography, and political jurisdiction. The date of the market comparables must be within a reasonable time period of the valuation date of the subject property. Although it is difficult to find good market comparables because of the unique nature of mineral properties and the small number of transactions, these difficulties are compensated for by analyzing a number of transactions on similar properties to develop a range of values for the subject property.For valuation purposes, market comparables can be expressed in terms of total property value, value per unit area (e.g., $ per hectare), or value per unit of metal contained in mineral resources (e.g., $ per ounce of gold, or $ per pound of copper). The market comparable value can be used to estimate the value of the subject property by using the total property value, unit area value or contained metal value."

Jan 1, 2003

By S. E. Daniel

"Due diligence reviews are an essential part of mineral property acquisitions. One of the primary reasons to complete an environmental review prior to exploration property acquisition is to assess the potential environmental liability. It is critical to identify the potential reclamation costs or existing environmental liability associated with the exploration property. A review of the existing condition of the property and its history can allow prioritization of exploration targets and ease future expenditures for historic damages. IntroductionIn Canada and some other jurisdictions, the purchaser of a property is assumed to know, and is (in the absence of deceit or fraud) financially responsible for, what is purchased. A plea of ignorance, at least from the perspective of environmental liability, is not an acceptable excuse to avoid responsibility (Nelson, 1994). Therefore, if an exploration company (for the purposes of this paper, any organization conducting exploration work) purchases a property that has environmental contamination, the new owner is liable for the cost to reclaim the site to an acceptable level. The cost to reclaim the site is the environmental liability. The new owner is responsible for existing environmental liability of the property, even if the exploration company’s personnel were not aware of the problem. In simplest terms, buyers beware. Therefore, in order to protect the exploration company’s interests, the exploration manager should determine the characteristics of the property of interest prior to purchase or other involvement, and exercise due diligence.The term “due diligence” is often used in the mining industry. To ensure clarity, in this paper’s context, the author has chosen to use the following meaning: “… due diligence is used to describe a detailed data review, generally in connection with the purchase or sale of a mineral property, the approval of a large capital expenditure, or the borrowing of a large sum of money” (Smith, 1997).Directors of the exploration company are held liable for the decisions made, unless they have relied in good faith on,“…a written report of the auditor, or a report of a lawyer, accountant, engineer, appraiser, or other person whose profession lends credibility to a statement made by any such person” (OBCA, 1994)."

Jan 1, 2003

By André Desbiens, Jocelyn Bouchard, René del Villar

"The metallurgical performance of the column flotation process is determined by the concentrate grade and recovery. Although the former can be continuously measured using an on-stream analyzer, the latter must be estimated by a material balance calculation based on seldom verified steady-state assumptions. Consequently, the automatic control and optimization of flotation columns should be performed using secondary variables having a strong influence on the metallurgical performance, such as froth depth, gas hold-up or bubble surface area flux and bias. The aim of this paper is to present a model-based automatic control strategy using froth depth and bias measurements obtained from virtual sensors developed at Laval University. Preliminary pilot plant results on two-phase (water– air) and three-phase system (water – minerals – air) will be presented and eventual industrial implementation of such a strategy as well as the possibility of achieving effective real-time optimization from bias and froth depth measurements will also be discussed.INTRODUCTIONFlotation columns have been widely studied and used in mineral processing for about twenty years. Although a great deal of work has been accomplished to understand the influence of different variables such as froth depth (H), bubble surface area flux (Sb) and bias (Jb) on the metallurgical performance, the measurement of some of these variables is still difficult to be performed – except at the laboratory level – because in most cases, no commercial device yet exists.As a result of this, it is almost impossible to achieve neither efficient control nor optimization of the process at the industrial level, even in open-loop operation. This paper aims at presenting a simple control strategy of froth depth and bias. Description of the sensors used to achieved measurements, preliminary pilot plant results for froth depth control, eventual industrial applications and possibilities for process optimization are also treated."

Jan 1, 2003

By Larry B. Smith

"Feasibility studies are the means by which mineral reserves are established prior to financing a project. However, guidelines are generally lacking for the content, data quality and accuracy of these studies. Regulators take a principle-based rather than prescriptive approach to the content of studies and look to the industry to define study content. Professional organizations, engineering firms and mining companies must eventually establish guidelines and best practices for this work. Most likely these will draw on standards or “stage gates” that have been developed by major mining houses and engineering firms. Engineering studies must: 1.,Define optimal mining and processing methods, production rates, infrastructure, product sales, environmental management and risk mitigation. 2.,Increase confidence in resources, reserves, production plans, processing performance, infrastructure design, environmental management, permitting, capital and operating costs, and financial performance to support financing. 3.,Provide engineering designs suitable for accurate cost estimates. 4.,Develop project execution plans with sufficient confidence that project delays and cost overruns will not occur. Conceptual (scoping, preliminary assessment) Establish the principal characteristics of the project from the geology, resources, metallurgy and development constraints. Assess different approaches to mining and processing. Identify project execution requirements. Test project viability with economic analyses. Recommend additional work to increase the confidence in geology, resources, metallurgical performance, infrastructure, operating and capital costs, environmental conditions and permitting to allow selection of the best development options."

Jan 1, 2003

By Ross D. Lawrence

"IntroductionOne of the methods used when applying the Market Approach to the valuation of a mineral exploration property is known as the Joint Venture Terms Method. The method is particularly useful for the valuation of early-stage exploration properties. Unfortunately, valuators are sometimes imprecise in distinguishing between joint ventures and other types of transactions.At VALMIN '94, Bob Appleyard1 proposed that, if one ignores the time value of money and the probability that the expenditure commitment would be completed, the formula to calculate the value ($V) of a property owned by Party B at the time of the deal would be:$V =$Ex (100-1%)/1% (Formula I)Where $V is the value of the property2Where $E is the expenditure commitment by Party A, andWhere 1% is the percentage property interest to be earned by party A.At PACRIM '99, Mike Lawrence and Graham Dewar3 referred to this method and suggested that there was an ambiguity in the formula proposed by Appleyard in 1994. Mike Lawrence referred to this problem again at VALMIN '014•Lawrence & Dewar suggested that the formulashould be:$V100% =($Ell%) x 100 (Formula 2)Where $V 100% is the value of the entire property,Where $E is the expenditure commitment by Party B, andWhere 1% is the percentage property interest to be earned by Party B.Subsequently, there has been considerable discussion in the AuslMM Bulletin5. In my view, this discussion has touched on a number of useful points, but generally has overlooked one essential element needed for an understanding of the correct application of the N Terms method. That essential element is to understand that there is a material difference between (1) entering into a joint venture arrangement and (2) the purchase of an interest in a property."

Jan 1, 2003

By Greg Gosson, Larry B. Smith

"These are heady times for the mining industry, with strong metal prices, investor enthusiasm for the junior explorer and ready access to finance for mineral projects. Many projects were shelved in the past because of technical deficiencies — insufficient tonnes or grade, metallurgical problems, the deposit was too deep or too narrow, or the project was physically or economically under water. With the possibility of sustained metal prices, now is the time for those previously “challenged” projects to be re-evaluated and financing sought for continued development. The question is, do these deposits have reasonable prospects for economic extraction, as required by all mineral resource reporting codes? NI 43-101 defines a mineral resource as that portion of the mineral inventory that has reasonable prospects for economic extraction. However, a mineral resource is not simply an inventory of all blocks above a given cut-off grade. The spatial distribution and geological and grade continuity must also be considered. The qualified person (QP) must consider factors significant to project economics at the mineral resource estimation stage, and not just when qualifying mineral reserves. CIM Best Practice Guidelines for estimating mineral resources require the factors significant to project economics be current, reasonably developed and based on generally accepted industry practice and experience. In establishing the cut-off grade, it must realistically reflect the location, deposit scale, continuity, assumed mining method, metallurgical processes, costs and reasonable long-term metal prices appropriate for the deposit. Variations within the resource model (rock characteristics, metallurgy, mining methods, etc.) may necessitate more than one cut-off grade or economic limit in different parts of the deposit model. There must be sufficient knowledge of the metallurgical characteristics of the deposit, which should be supported by preliminary metallurgical test results."

Jan 1, 2003

By Jan E. Nesset, Phillip J. Mackey

"Studies have shown that there is a correlation between commissioning and start-up time, i.e. time to reach full plant design capacity, and the degree of innovation and technical/engineering uncertainty in the project design. The paper describes the types of start-up curves for plants according to the level of technology or uncertainty in the process design. The need to properly describe and understand the commissioning and start-up time is examined using these curves and the importance on project success is highlighted. A number of case histories of recent mining and metallurgical projects are also reviewed. Finally, the paper reviews how to better assess the level of start-up uncertainty associated with a project and makes suggestions for decreasing the commissioning time due to technological risk.INTRODUCTIOThe start-up of a new mining and metallurgical facility, a much anticipated event, is a critical step in the life of such a project. Achieving a successful start-up and reaching the design capacity on-time requires careful planning, a thorough understanding of the key technological and engineering components involved and a well-trained and adequatelystaffed start-up crew. In this paper, some of the aspects related to start-up of a mining/metallurgical project will be explored, and in particular, the impact of the technology component will be examined. In order to illustrate this, a number of case histories based on recent mining and metallurgical projects will be discussed. Ways of assessing and understanding the uncertainty associated with technological issues related to start-up of a mining and metallurgical plant will also be examined.The history on mining and metallurgy is full of success stories of great mines and mills that are now considered “company makers” (well known examples of such successes include the Horne mine for Noranda which had a 1 year start-up in 1926-27, the Dome mine for Placer Dome, the Grasberg deposit for FMI in Indonesia). Less well documented are specific studies relating to plant start-ups and what constitutes a success or a failure, however there are a few notable references in the literature and these will be reviewed."

Jan 1, 2003

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 M. Veiga, L. Lavkulich, R. Pakalnis, M. Ghomshei, S. Baldwin, J. A. Meech

"On July 26, 2000, the Canada Foundation for Innovation announced an award of $1.3 M dollars for The Centre for Environmental Research in Minerals, Metals and Materials, CERM3, at The University of British Columbia. Additional funding was also provided by the British Columbia Knowledge Development Fund ($1.3 M) and the UBC Stewart Blusson Fund ($0.7 M). Annual industrial grants and contracts are providing support funding for the on-going research projects. Corporate membership in CERM3 entitles each participant to a seat on the technical advisory committee (TAC) as well as access to the five laboratory facilities currently under construction. Both the federal and provincial governments will also participate in the TAC through NRCan-CANMET and the BC Ministry of Energy and Mines, respectively. CERM3’s mission is:• to develop innovative methods to deal with environmental problems created by mining activity;• to promote sustainable development as a hallmark of management decision-making; • to produce mining and processing engineers with the required environmental skills; and• to enhance the image of mining in society as a vibrant and necessary component of a modern economy and society which disturbs the environment for the benefit of mankind.CERM3 brings together a multi-disciplinary team of researchers from over 12 departments at The University of British Columbia (UBC) to work on mining-related environmental problems. These include: chemistry; soil sciences; chemical and biological engineering; earth and ocean sciences; microbiology; civil engineering; electrical engineering; metals and materials engineering; mechanical engineering; mining and mineral processing, the Westwater Research Centre; the Institute for Resources and the Environment; and the School of Occupational and Environmental Hygiene. The centre intends to interact with scientists from industry, governments and other universities across Canada and around the world. CERM3 aims to become Canada’s leading environmental research facility for the mining industry. This paper describes the evolution of CERM3 and its coordinated multi-disciplinary approach to mining and the environment. Some of CERM3’s research projects include:• developing new protocols for environmental analyses to provide consistent and reliable assays;• isolating a natural virus for Thiobacillus ferrooxidans and other bacteria responsible for acid rock drainage (ARD);• designing bio-remediation and adsorption techniques for mine effluents;• promoting and enhancing the use of hydrometallurgy to reduce environmental pollution;• examining new approaches to comminution to decrease energy consumption;• developing a magnetically levitated hoisting system to reduce the footprint of a mine operation;• building a state-of-the-art supercomputer network laboratory for mine/mill simulations; and• designing intelligent bulkheads to seal tunnels following mine closure to survive for 1000 years.This latter project involves the establishment of a research station at the Britannia mine site, 45 km north of Vancouver, which will provide a full-scale facility to design the “Millennium Plug” and contribute directly to the solution to one of North America’s worst ARD-contaminated sites."

Jan 1, 2003

By G. Labonté, J. Truskoski, A. Kerr, A. Bouchard, J. Barrett

"Improving mill grade recovery relationships is always good business. Inco’s Clarabelle mill has just undergone a $16 M process upgrade that was designed to improve nickel recovery by 2%. The “Mill Redesign Project” was completed on time, under budget and delivered the promised improvement in recoveries.This paper describes the methodology of the Mill Redesign Project team, details of the process improvements and the critical success factors that helped the team deliver on its promises.With a payback of under one year, the Mill Redesign Project will play a key role in ensuring a competitive edge as Inco embarks on its second century of operation. IntroductionIt is not uncommon in milling operations to encounter a crisis. That is the point when the process does not behave as expected and fails to respond to the increasingly desperate efforts of the metallurgists and operators. Flowsheet and process changes are attempted and abandoned. With luck, one or more of the changes achieves some mitigation of the original problem or more usually, the original cause of the problem disappears. Regardless, the metallurgist can sit back and bask in the apparent success of his or her endeavours.Less common is when a problem is carefully diagnosed, a team put together to explore all avenues and recommend a path of action that is implemented on time, on budget and immediately delivers on the promises which are sustained over time. This is one such story. It is the story of the Mill Redesign Project at Inco’s Clarabelle mill in Copper Cliff, Ontario."

Jan 1, 2003

By Pierre Pelletier, Julie Fournier, Gianni Bartolacci, Yves Breau, Dominique Girard, Ahmed Bouajila, Carl Duchesne

"The development of on-stream analyzers (OSA), such as those based on X-ray fluorescence (XRF), has been key to improve metallurgical performance of flotation processes. However, since these analyzers are shared between several streams, they typically provide grade measurements every about 10-15 minutes. In general, this frequency is too long compared to process dynamics and so, implementing an efficient feedback control strategy based on OSA can be difficult. In addition, due to the limited capacity of OSA systems, several important intermediate streams are not analysed, but could provide relevant information about the state of a flotation circuit.To overcome this problem, vision systems have been developed in the past to predict concentrate grade based on froth color – this could be very useful to control flotation performance between OSA measurements. However, applications reported in the literature typically use univariate summary statistics of the full red, blue, and green color distribution of froth images, while RGB images are truly multivariate. Although, in some cases, grade prediction was achieved with reasonable accuracy, one may, by using only summary statistics, miss important information about the state of the flotation process.This paper investigates the application of Multivariate Image Analysis (MIA) concepts to flotation froth images. These techniques are based on multivariate statistical methods such as PCA and PLS, which have the ability to analyze large databases (such as digital images) and summarize the relevant information content of the data into a small number of latent variables, capturing the most important features of the images for concentrate grade prediction. The potential of application of these methods in the mineral processing industry is illustrated using a few industrial case studies."

Jan 1, 2003

By Stephen L. Chryssoulis, Daniela Venter, Stamen Dimov

"Comparative surface analysis of floated and rejected free gold grains from a number of full scale benefication plants and from pilot plant testwork, has shown silver (the most common impurity in gold) and sulphur invariably in greater concentration on floated gold grains, implying that they assisted gold flotation (gold activators). Collector loading measurements on individual gold grains from concentrates of staged rougher flotation tests on a cyclone U/F product of a pyritic gold ore, revealed first progressively lower concentrations of the collector monomer on gold from each follow-up concentrate and secondly a direct proportionality between the surface concentration of silver and the collector monomer. These two observations leave no doubt that silver activates gold and that collector monomers play a significant, previously not fully recognized role in gold flotation.INTRODUCTIONGold to some degree is naturally floatable in industrial systems, which means that it can be recovered without collector addition (Marsden and House, 1992). This is due to the adsorption of hydrocarbons and deposition of sulphur, which are dependent on the metallic properties of gold, particularly its high electrical conductivity, which allows surface electrochemical reactions to occur catalytically and selectively. Cyclic voltammetry has shown that gold can be rendered hydrophobic by deposition of a surface layer of sulphur (Sº) from S2- and HS- solutions (Walker et al., 1984). Twenty monolayers of sulphur were required to produce a hydrophobic gold surface.However, no sulphide flotation plant relies solely on the natural floatability of gold for its recovery. Gold hydrophobicity is enhanced by the addition of flotation collectors such as xanthates (X), dithiophosphates (DTP), dithiophosphinates (DTPI), mercaptobenzothiolates (MBC) etc., as used in sulphide mineral flotation (Dekok, 1973: Adams et al., 1986). The mechanism invoked in enhancing the hydrophobicity of pure gold with the aforementioned four groups of collectors is similar to that of pyrite, whereby collector anions are oxidized at the gold surface to form dimers (Groot, 1987; Marsden and House, 1992; Basilio et al., 1992) As an example, xanthate ions are oxidized at the gold surface to form the neutral dimer dixanthogen (X2):"

Jan 1, 2003

"At the May 15, 2006 and the May 1, 2007 Canadian Securities Administrators (CSA) Canadian Institute of Mining, Metallurgy and Petroleum (CIM) meetings in Vancouver and Montreal, CSA requested CIM consider certain issues arising out of the CSA review of Technical Reports and public disclosure, in general, regarding the practice of estimation and reporting of Mineral Resources and Mineral Reserves. The following is a summary of the issues raised by the CSA and the responses of the CIM.Preamble: At the May 15, 2006 and the May 1, 2007 Canadian Securities Administrators (CSA)-Canadian Institute of Mining, Metallurgy and Petroleum (CIM) meetings in Vancouver and Montreal, CSA requested CIM consider certain issues arising out of the CSA review of Technical Reports and public disclosure, in general, regarding the practice of estimation and reporting of Mineral Resources and Mineral Reserves. The following is a summary of the issues raised by the CSA and the responses of the CIM Reserve Definition and the CIM Estimation Best Practices Committees (the Committees). This information is intended to provide the Qualified Person (QP) with further guidance when estimating Mineral Resources and Mineral Reserves and in preparing a technical report written under National Instrument 43-101 (NI 43-101). Several members of the CIM Reserve Definition Committee, the CIM Estimation Best Practices Committee and some members of the Committee for Mineral Resources International Reporting Standards have reviewed these issues and provide the following commentary.Issue 1. - CSA requested CIM review and comment on the selection of an appropriate commodity price to be used in Mineral Resources and Mineral Reserves estimates.Commodity prices are used in the estimation of Mineral Resources and Mineral Reserves and in the economic analysis of a property. In times of rapidly changing commodity prices, or when prices are at the extreme ends of a commodity price cycle, the QP has a difficult job in selecting an appropriate commodity price.• The selection of appropriate technical variables, including commodity price, is clearly the responsibility of the Qualified Person (QP). The QP must describe the reasons for selecting these variables, including price, in the technical report.• The definition of a ""Mineral Resource"" contains the wording ""reasonable prospects for economic extraction,"" therefore, a QP must select economic parameters, including commodity price, that will result in an estimate of Mineral Resources and Mineral Reserves that have ""reasonable prospects for economic extraction""."

Jan 1, 2003

By Alain Langlais, Caroline Boudrias Chapleau, Claude Bazin, Ahmed Bouajila

"Slurry «viscosity» has been recognised for several decades as a variable that significantly influences the operation of grinding mills. This paper describes an instrument that can be used in a laboratory or a plant to measure and monitor the flow properties of mineral slurries. Laboratory results obtained for two different ore samples are consistent with results obtained during a full scale trial. The results provide a basis for analysing the effect of the solids concentration and particle size distribution on the slurry flow properties. Grinding tests were also conducted in an attempt to link the grinding efficiency to the rheological properties of mineral slurries.INTRODUCTIONThe flow properties, or incorrectly called «viscosity», of a slurry influence the operation of mineral processing devices. Work has been conducted for instance to assess the effect of this variable on the operation of hydrocyclones (Kawatra et al. 1996; Klimpel, 1982a) and dense media separators for coal (Napier-Munn, 1996). However, most of the research effort has been oriented toward the grinding processes which is still the most energy demanding operation for ore dressing (Fuerstenau et al., 1995).Results of investigations of the influence of slurry flow properties upon grinding performances are presented regularly in the literature since 1950. In the 70's, most of the research work was conducted with the aim of using slurry flow properties for the control of grinding mill and to analyze the effect of that variable upon the population balance model breakage and rate functions (Austin et al., 1984; Hemmings et Boyes, 1977). In the 80's, most of the litterature dealing with slurry rheology was devoted to the use of viscosity modifiers to adjust the slurry flow properties, allowing an increase of grinding mill throughputs (Klimpel, 1982b; Fuerstenau et al., 1985). Although laboratory and pilot plant results show the benefits of adding these modifiers to the slurry, few plants have published results concerning the advantages of such addition (Fuerstenau et al., 1985). It is felt that the use of these modifiers introduce operating difficulties with the concentration circuits, especially flotation (Kawatra et Eisele, 1988)."

Jan 1, 2003

By Karl J. C. Harries

"9.1. INTRODUCTIONIn Chapter 5 of Volume I royalties are dealt with and several topics would appear to be duplicated in this Volume. However, Volume I may be looked upon as a general guide, whereas this Volume is a reference volume. It deals in considerable detail with specific provisions and concepts relating to royalties between private parties. This does not, however, mean that Chapter 5 can be ignored. It should be looked upon as a source of general information concerning royalties between private parties and as a negotiating aid intended to give an overview of various topics. You may well find that in its general approach it will lead you to ask a question which, hopefully, will be dealt with in this Volume .It should be remembered that royalty agreements are agreements with a particular focus, and so the concepts set forth in Chapter 1 apply to them. This chapter addresses a few considerations specific to royalties that will usually form part of an agreement rather than a stand-alone agreement.9.2. FORMAT FOR ROYALTY PROVISIONSIn many of the cases where royalties arise, they are adjunct to, or part of, other arrangements. For example, a royalty may form part or all of the consideration to be given to an owner upon purchase of his property, or it may arise if a joint venturer ceases to contribute to the venture and has his interest converted to a royalty.1 It is with such situations that this section primarily deals; if the royalty is contained in an agreement that is singularly, or primarily, concerned with creating it, then it is just a normal agreement.Commonly, by the time the right to receive the royalty arises, at least some of the other provisions of the agreement have been performed and/or become redundant. For example, in an option agreement the royalty will be a continuing obligation of the optionee, usually arising only after the option has been exercised.2 In a joint venture agreement, a royalty will often arise where the interest of a non-participating venturer has been diluted and converted to a royalty, in which case the recipient will usually become a passive party, entitled only to his royalty, and most of the rights that he enjoyed as an active venturer will cease to be effective."

Jan 1, 2003

"Adopted in 2003, theses guidelines are intended to assist the Qualified Person(s) in the planning, supervision, preparation and reporting of mineral resources and mineral reserve estimates. The report is divided into two broad sections “General Guidelines” appropriate for most metals and “Guidelines Specific to Particular Commodities” for potash, industrial minerals, uranium and coal. “These guidelines are reference in the Companion Policy of NI 43-101 with a statement that a qualified person classifying a mineral deposit as a mineral resource or mineral reserve should follow them.”Executive SummaryThe following is a summary, in table format, of the main elements of the Estimation Best Practice Committee's report ""Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines"". While the summary table is provided for convenience, the Committee recommends that the report be read in its entirety and the table summary not be used as a stand alone document. These guidelines are not intended to be either prescriptive or exhaustive. They do not preclude innovation. Preamble: These guidelines have been prepared by the Canadian Institute of Mining and Metallurgy and Petroleum (CIM) led Estimation Best Practices Committee. They are intended to assist the Qualified Person(s) (QP) in the planning, supervision, preparation and reporting of Mineral Resource and Mineral Reserve (MRMR) estimates. All MRMR estimation work from which public reporting will ensue must be designed and carried out under the direction of a QP in accordance with National Instrument 43-101 (NI 43-101) and related forms. A QP is defined in NI 43-101 as ""an individual who is an engineer or geoscientist with at least five (5) years of experience in mineral exploration, mine development, mine operation, project assessment or any combination of these; has experience relevant to the subject matter of the mineral project and technical report; and is a member in good standing of a professional association"". Disclosure of MRMR estimates is to be made in accordance with industry standard definitions approved by the CIM (the CIM Standards adopted by the CIM Council in August 2002) which have been incorporated by reference into NI 43-101."

Jan 1, 2003

"The United Nations, through the secretariat of the United Nations Economic Commission for Europe (UNECE) and its Ad Hoc Group of Experts on Harmonization of Fossil Energy and Mineral Resources Terminology, developed the Framework Classification.The UN Classification applies to fossil energy and mineral reserves and resources located on or below the Earth's surface. It aims to simplify reporting of energy and mineral reserves and resources in a globalized world and is intended to improve global communications regarding remaining quantities of non-renewable fossil energy and mineral resources. The UN Classification is not recognized as a Foreign Code under NI 43-101.SECTION I1.,The United Nations Framework Classification (UNFC-2009) applies to fossil energy and mineral reserves and resources located on or below the Earth' s surface. It serves the needs for classification at a global level (for energy and mineral supply studies), for governments (resources management and policy formulation), for industry (business process management) and for financial reporting.SECTION II2.,The UNFC is a generic system in which quantities are classified on the basis of the three fundamental criteria of economic and social viability (E), field project status and feasibility (F), and geological knowledge (G), using a numerical coding system. Combinations of these criteria create a three-dimensional system. Categories (e.g. El, E2, E3) and, in some cases, sub-categories (e.g. E1.1) are defined for each of the three criteria as set out and defined in Annexes I and II.3 The first set of categories (the E axis) designates the degree of favourability of social and economic conditions in establishing the commercial viability of the project, including consideration of market prices and relevant legal, regulatory, environmental and contractual conditions. The second set (the F axis) designates the maturity of studies and commitments necessary to implement mining plans or development projects. These extend from early exploration efforts before a deposit or accumulation has been confirmed to exist through to a project that is extracting and selling a commodity, and reflect standard value chain management principles. The third set of categories (the G axis) designates the level of confidence in the geological knowledge and potential recoverability of the quantities.4. The categories and sub-categories are the building blocks of the system, and are combined in the form of ""classes"". The UNFC can be visualised in three dimensions, as shown in Figure 1, or represented in a practical two-dimensional abbreviated version as shown in Figure 2."

Jan 1, 2003

By B. P. Simser, R. K. Brummer, A. Mortazavi, P. P. Andrieux

"A large-scale panel destress blast was fired at Brunswick mine in the fall of 1999 in order to reduce the ground stresses in a critically important neighbouring mining region. This work, sponsored by the Mining Division of CAMIRO and Brunswick mine, consisted in heavily choke-blasting — and subsequently leaving in place — a massive waste sulphide pillar in the southwest end of the 1000 m level. This paper describes the approach and design methodology used to try to maximize breakage in the rock mass in the area to destress, while minimizing damage to critical infrastructures in the vicinity. The loading operations, as well as the results of the blast — in terms of its field performances, as recorded by near-field blast vibration monitoring equipment, visual postblast assessments and measured impact on the regional stress field — are discussed as well. A brief comparison between the measured stress changes and inelastic numerical modelling of the test site is also presented.Un tir à grande échelle de relâchement des contraintes dans un pilier a été effectué à la mine Brunswick à la fin de l’automne 1999 dans le but de diminuer les contraintes de terrain dans une très importante zone de production adjascente. Ces travaux, financés par la division minière de CAMIRO et la mine Brunswick, consistaient à tirer violemment sans aucune face libre, et à laisser en place, un pilier de sulphures massifs au sud-ouest du niveau 1000 m. Cet article décrit l’approche et la démarche conceptuelle utilisées pour tenter de maximiser les fractures dans le pilier visé, tout en minimisant les dommages collatéraux à des infrastructures critiques se trouvant dans les environs immédiats. Les opérations de chargement des explosifs et les résultats du tir — en termes de ses performances, telles qu’évaluées par de l’équipement de monitoring rapproché des vibrations de tir, d’observations visuelles, et de son impact sur les contraintes de terrain locales — sont également discutés."

Jan 1, 2003