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By Michel Épiney, COREM, Mario Drapeau, Caroline Olsen, Claude Bolduc, Benoit Levasseur

"Several metal sulfide minerals (such as copper, zinc and iron), generally abundant in precious metal-containing ores, are known to dissolve during the cyanidation process. These unwanted reactions consume a significant amount of cyanide and oxygen, which is required for the extraction of gold and silver. Leaching kinetics of sulfide minerals are very fast in contact with oxygenated cyanide solutions. Therefore, the solution quickly becomes charged with oxidation products that are mostly metal ions, metallo-cyanide complexes, metal oxides and other sulfur species including thiocyanate, sulfides, polysulfides, thiosulfate, sulfites, sulfates, etc. COREM’s Extractive Metallurgy team has been conducting a research program on the improvement of the gold cyanidation process. As a part of this program, the current study aims to investigate the effect of certain operating parameters on the reactions involved during pre-oxidation and cyanidation. The effect of pre-treatment under ozone was investigated using an industrial pulp recreated from process water (charged with thiocyanates) and homogenized flotation tailings material from Agnico Eagle's LaRonde mine. In terms of mechanisms, the ozone treatment provides a complete deactivation of the material surface (characterized by EDTA extraction) and the solution (characterized by Ionic chromatography). This resulted in a lower reactivity of sulfide minerals that led to substantial gains in terms of consumption of cyanide and thiocyanate formation during the cyanidation process. The ozone-pre-treatment edges the classical pre-oxidation treatment (such as oxygen, hydrogen peroxides, etc) providing a quicker deactivation of the sulfide matrix and higher reagent savings in subsequent cyanidation process.INTRODUCTIONThe presence of sulfur in the process of gold leaching by cyanidation is a major drawback to optimizing the reagents consumption with suitable operating conditions. The coexistence of sulfide mineral species, such as pyrite, chalcopyrite, pyrrhotite or sphalerite along with the gold-bearing ore have, indeed, a negative impact on the extraction of precious metals by cyanidation (Bayat et al., 2003), (Azizi et al., 2010). These minerals are known to dissolve with cyanide under alkaline conditions and release in the slurry different kinds of sulfide by-products like polysulfides, thiosel, sulfite and sulfate (Seal II & Hammarstrom, 2003) (Breuer et al., 2008a), (Marsden & House, 2006) (Ghasemian Langeroudi et al., 2013). Once these sulfide by-products are released in solution they react with cyanide to form thiocyanate (Marsden & House, 2006) (Breuer et al., 2008b). The consequence of the dissolution of these cyanicides, is a significant increase in cyanide consumtpion as well as a slow-down of gold extraction."

Jan 1, 2016

"Virtual reality, a 3D computer-generated environment, has become a recognized delivery system for many forms of education. This paper describes the application of virtual reality to mineral processing education. An interactive mineral processing visualization module developed at the University of New South Wales, Australia, provides users with an overview of a base-metal concentrator and details about how the mined ore progresses through stages in processing. The module also involves developing instructional based plant layouts and flowsheets in the virtual environment. These assist the user in understanding the essential components of the base-metal concentrator.RÉSUMÉ La réalité virtuelle (RV), un environnement en 3D généré par ordinateur, est devenue un système de prestation reconnu pour diverses formes d’éducation. Cet article décrit l’application de la réalité virtuelle à l’éducation dans le domaine de la minéralurgie. Un module interactif de visualisation du traitement des minerais développé par l’université de Nouvelle-Galles du Sud, en Australie, offre aux utilisateurs une vision d’ensemble d’un concentrateur de métaux communs ainsi que des détails concernant la progression du minerai extrait à travers les différentes étapes de traitement. Ce module implique également le développement de schémas de réalisation et de traitement didactiques dans l’environnement virtuel, lesquels schémas aident les utilisateurs à appréhender les composantes essentielles d’un concentrateur de métaux communsINTRODUCTIONVirtual reality (VR) is the creation of an artificial environment that is experienced through sights and sounds provided by a computer (Squelch, 2001). The simulated environment is achieved through technologies such as 3D graphics, audio feedback, and special peripheral devices to produce interactive environments.Virtual reality has been used in diverse fields including medicine (Riener & Harder, 2012), entertainment (Hsu, 2011), military (Manojlovich, Prasithsangaree, Hughes, Chen, & Lewis, 2003), manufacturing (Zimmermann, 2008; Jiang, 2011), and chemical processing (Squires, Andersen, Reklaitis, Jayakumar, & Carmichael, 1992; Schofield, Lester, & Wilson, 2005). Virtual reality is also becoming the recognized delivery system for education in many fields, including engineering (Bell & Fogler, 1996, 1998; Shin, 2002). For example, VR laboratories have been designed and developed to teach users fundamental features of heterogeneous catalytic mechanisms and absorption columns (Bell & Fogler, 1995), the multi-phase and multi-component blast furnace iron-making process (Babich & Senk, 2009), and to guide users to identify various safety measures while working in a real laboratory (Bell & Fogler, 1996)."

Jan 1, 2017

By M. Cala

Underground coal gasification is technology which enables energy to be extracted from coal beds where mining by means of classical methods is either impossible or uneconomical. The process of coal gasification itself is a complex phenomenon which includes chemical and physical processes: thermal, hydrological and mechanical. Additionally, the analysis of underground coal gasification is difficult to carry out for environment reasons, this being due to the local characteristics of the areas where it is carried out. This paper deals with interaction of geo-reactor with surrounding rock mass, it omits the chemical processes inside geo-reactor itself. Due to the complexity of the processes proceeding and during underground coal gasification coupled with minimal practical experience in using this technology, it is difficult to estimate its influence on the surrounding rock mass. Within this scope, the use of numerical programs can be useful. This paper presents a trial of modeling the processes accompanying underground coal gasification. The processes proceeding and during the underground coal gasification are characterized, and the significant, specific phenomena are discussed, with respect to the influence on the surrounding rock mass. For the chosen processes, examples of numerical calculations are presented. These enabled conclusions to be drawn and also provided directions for the modeling of the underground coal gasification processes.

Aug 1, 2013

By R. W. Boyle

"EDITOR'S NOTEPart 1 of this paper, published in the August issue, covered lithochemical surveys based on major, minor and trace elements in whole-rock samples from primary enveloping halos.Part 2, which follows, continues with discussions of surveys based on leakage halos, zonation of elements, stable and radioactive isotopic distributions, and geothermometric, geobarometric, thermoluminiscent, pedochemical, hydro-chemical, atmochemical and biogeochemical methods. It concludes with a selected bibliography.Surveys Utilizing Leakage HalosLeakage halos can be used as scalar or vector quantities in thesearch for deeply buried blind mineral deposits. In the first case, the occurrence of a leakage halo (e.g. a small pitchblende seam) may simply indicate the possible presence of pitchblende mineralization or orebodies; in the second case, the areal or three-dimensional distribution of leakage halos may, by their increasing frequency and I or increasing metallic or gangue element content, provide a means of vectoring in on loci of mineralization and orebodies. Examples of both cases are given in the following text.Leakage halos are of many types, as shown in Figure 2 (Part 1), and are best discussed with respect to their associated mineral deposits. Furthermore, it should be noted that leakage halos are frequently offshoots or extensions of enveloping halos. Where this occurs, careful tracing of the leakage halo(s) downward or upward respectively will often lead to the apex or nadir (bottom) of the enveloping halo(s) and ultimately to mineralization or ore."

Jan 1, 1982

By H. L. Cameron

Introduction Since the beginning of gold mining in Nova Scotia in the year 1860, the biggest problem o the mine operators has been to find and follow the ore zones in the narrow quartz veins. It was early recognized that all veins were not gold bearing and that, in those that were, the commercial ore was confined to limited zones. A large number of geologists and mining engineers have been interested enough to give time and thought to the problem, but, until the last four or five years preceding World War II, they were handicapped by lack of exact data from mining operations. The necessary data could only be obtained by daily checking of underground operations. Such daily checks were instituted at a number of mines during the period 1935-40 and, in every case, were successful in delimiting the ore zone or zones for the particular mine. The present paper deals with the results of this work as applied to practical ore finding. It is an attempt at extrapolation, from observations in the four districts with which the writer is personally familiar, co other districts in which similar conditions or structures are reported.

Jan 1, 1947

By E. Ghali, C. Su, G. Houlachi

"The influence of lead ions on zinc electrowinning process was investigated by means of electrochemical noise measurements (ENMs) and cyclic voltammetry in conjunction with scanning electron microscopy and X-ray diffraction. All electrochemical experiments were performed in sulphuric acid electrolyte containing different lead ion concentrations as impurity. Lead was added in six trace levels between 0.05–0.8 mg/L in the bath. The lead content of the zinc deposits was dependent on the introduced lead concentrations. The overpotential associated with zinc electrodeposition shifted to higher values with the increase of lead concentration in the solution. An appropriate correlation was found between the different concentrations of lead in the electrolyte and the morphology of zinc deposit by ENM. The results showed that the increase of lead ion concentrations is generally accompanied with the decrease of skew and increase of kurtosis values that could be related to the morphology of zinc deposit. Effectively, the morphology changes from well-defined hexagonal platelets to large hexagonal, layered platelets and finally to non-symmetric refined crystalline structure, respectively.INTRODUCTION In commercial zinc electrowinning, zinc oxide is leached from the roasted calcine with an aqueous acid sulfate electrolyte. Then the zinc-rich solution is purified and transferred into an electrolytic cell. During electrolysis, zinc is deposited on aluminum cathode where lead-silver or pure lead is served as anode. Electrodeposition of zinc could be influenced by several parameters such as bath acidity, temperature, current density, the nature and concentration of impurities as well as additives in electrolyte. Metallic impurities play a complex role during zinc electrowinning and they can adversely"

Jan 1, 2016

By Michael L. Wayman

Native copper is copper which exists in nature in elemental, metallic form, rather than being chemically combined as is the case with the more usual oxides, sulphides, carbonates, etc. Several other metals, including gold, silver and platinum also occur in native form as do, rarely, iron, lead and mercury; a few naturally occurring native metal alloys, notably electrum (gold-silver) and tumbaga {gold-copper or gold-silver-copper) are also known. An analysis of the relative availabilities of native metals as nuggets in a useful size range111 shows native copper to be by far the most abundant of the native metals, exceeding both gold and silver by at least two orders of magnitude. While such an estimate is crude, it serves to illustrate why copper was one of the first metals to have been used by ancient peoples. Native copper is known to occur on all inhabited continents, although its exact occurrence and abundance in ancient times cannot be unambiguously determined because many surface deposits may have been totally exploited and are therefore no longer identifiable. It is clear, however, that native copper does or did occur in all areas inhabited by the early metal-using cultures, for example in the Andes, in Central America and in the Near East. It is remarkable that most of the world's native copper occurs in the deposits of the Lake Superior region, primarily on the Keweenaw Peninsula of northern Michigan and on Isle Royale, an island in Lake Superior some 50 miles north of the Keweenaw deposits. Canadian deposits of native copper are found in Newfoundland and Labrador, Nova Scotia, Quebec, Ontario, British Columbia, the Yukon and the Northwest Territories (on Victoria Island, Bathurst Inlet and the Coppermine River area). It was to locate the latter deposits that the explorer Samuel Hearne was sent overland from Hudson's Bay in 1770; they were also surveyed by Sir John Franklin's expeditions in the 1820s.

Jan 1, 1999

By H. A. ?ye

The ISO TC 226 (Materials for the production of primary aluminium) has presently issued more than one hundred standards on the materials: alumina, pitch, petroleum coke, carbon anodes, carbon cathodes, ramming paste, fluorides and refractory). The object of the standardization work is to find methods that both material producers and smelters will accept. Methods that are specific for the operational conditions have been developed in addition to more traditional room temperature methods. Examples of important properties under operational conditions are: Air and C02 reactivity of anodes, Equivalent temperature for baked anodes, Sodium expansion of cathode blocks, Shrinkage and Rammability of paste, Penetration of electrolyte into refractories.

Jan 1, 2006

By D. W. Duncan, A. Bruynesteyn

Acidic mine waters containing solubilized uranium have been observed in many uranium and some copper mines. In every case, the sulphide and iron oxidizing bacterium, Thiobacillus ferrooxidans, was also present. This bacterium provides the ferric iron required to oxidize u+4, both by oxidizing available ferrous iron and by oxidizing pyrite or other available sulphide minerals. This latter oxidation also provides sulphuric acid and may increase extraction by exposing more uranium. The enhancement of bacterial activity and the results of some field tests are discussed.

Jan 1, 1971

By Michael Li

Paste backfill as a means of supporting underground mining is gaining popularity. Despite this trend, engineering and design of mine paste backfill systems are still largely based on empirical methods rather than established scientific principles. Because of a lack of sound understanding of mineral paste flow, some degree of trial and error is often involved during commissioning and operating of new paste fill systems. New operations often have to be built with flexibilities and contingencies, escalating the overall project costs. This paper reviews the applicability of some scientific and engineering principles to mineral paste flows. Recent experimental data are used to illustrate important points. The phenomenon of mineral paste flow is examined under the context of improving the efficiency and reliability of underground delivery. Gaps in our understanding of mineral paste rheology are pointed out and from those some future research directions naturally emerge. Status and problems of the current engineering and design practice are also briefly discussed.

Nov 1, 2002

By Nobuyoshi Yabuki

Building Information Modeling is a prevailing methodology in the building industry and half (by length) of the world's shield tunnels are in Japan. Accordingly, for shield tunnels from 2005 to 2007, we developed a product model called IFC-ShieldTunnel, which is based on Industry Foundation Classes (IFC), in order to meet the future demand for such a product model. IFC-ShieldTunnel was developed by adding new elements that are specific to shield tunnels and that are not included in the original IFC. The added elements include shafts, segments (A, B, and K types), waterproofing elements, segment joint elements, and ring joint elements. Furthermore, soil layers and void elements were created. Recently, we updated the product model by re-organizing the entities and correcting errors. We deployed the updated IFCShieldTunnel model in the construction of an actual shield tunnel in Tokyo for about a year from August 2010 in order to check its feasibility. In the verification process, first, segments were modeled using Autodesk Revit Structure 2011 and property data were assigned to each segment element. Next, a mapping between the original attributes of the entities of IFC and properties of IFC-ShieldTunnel segments was developed. Using this mapping and IFC?s IfcBuildingElementProxy function, we were able to convert the IFC data from Revit Structure 2011 to IFC-ShieldTunnel automatically. Segment data were also converted from Revit Structure to Google SketchUp by IFC-ShieldTunnel. Furthermore, the construction scheduling and cost data were converted from Revit Structure to EXCEL for 4D and 5D analyses of construction. We interviewed engineers who used IFC-ShieldTunnel and received positive comments about the utilization of the product model. Overall, our test demonstrated the feasibility of IFC-ShieldTunnel. In future work, we plan to apply IFC-ShieldTunnel to more projects and test its practicality.

Aug 1, 2013

By Alfred C. Lane

WE recently received from Professor A. C. Lane, Emeritus Professor of Geology and Mineralogy, Tufts College, Mass., and a Corresponding Member of this Institute, a very interesting account of some recent developments in radioactive methods of determining the age of minerals and, therefore, of the rocks in which they occur. It deals in particular with studies of the minerals of certain pegmatite dykes on the Huron claims and Bear claims in southeastern Manitoba, which, the results indicate, are among the oldest rocks of the earth's crust. The following article presents a non-mathematical summary of Professor Lane's paper . . It will be noted that he is anxious to obtain suitable samples of certain minerals and rocks for further age studies. We hope some o our members may be able to supply him with the material he needs. It may be well to explain briefly how the age determinations are made. Uranium is continually breaking down, or disintegrating in successive steps through radium, etc., to a final product which is lead (uranium-lead), and the rate at which this change takes place is known. Minerals containing uranium will therefore contain lead also, and the lead-uranium ratio mul-tiplied by a certain factor (approximately 7 ,600) will give the age of the mineral in millions of years. Thorium also disintegrates at a known rate to give lead (thorium-lead) as a final product, and the age of a mineral containing thorium can thus be calculated from the lead-thorium ratio. Thorium breaks down more slowly than uranium. In unit time, one gram of thorium produces about as much lead as 0.36 grams of uranium.-ED.

Jan 1, 1938

By A. Y. Senchenko, Y. V. Kulikov

"In recent decades HPGR technology has proven itself in comminution circuits of mining plants. High technical and economic performance, lower specific energy consumption and reliability of HPGR equipment makes it an efficient alternative to conventional circuits using stage crushing and rod/ball milling, as well as to AG/SAG circuits. However, despite all the advantages of this technology the correct selection of key and auxiliary equipment is very important since errors at testing and design stages may lead to discrediting of the whole concept of HPGR application. There is a great variety of possible circuit configurations using HPGR, e.g. with circulation of edge product, with crushing of the whole discharge and circulation of screen oversize, successive two-stage crushing, etc. Each type of minerals will require its own optimal crushing circuit. In this context the testing methodology for selection of an optimal configuration becomes of prime importance. It is common knowledge that the best simulation of material crushing and softening within a HPGR can be obtained only in the course of a large-scale pilot test. The main approaches applied to this kind of testworks are described in this article. Special aspects of HPGR technology design and industrial operation are revealed as well. Some operational issues of HPGR equipment and of circuit as a whole were detected. They are related to regions specifics, plants location, and other factors. Process solutions proposed to deal with these issues are also indicated in the article. INTRODUCTIONDesign and construction of the processing plants involving High Pressure Grinding Rolls (HPGR) technology becomes more and more common in mining as this technology has specific technical and economic advantages against the circuits with autogenous/semiautogenous mills (AG/SAG) and other circuits. The main advantage of the technology is low energy consumption and low operation costs respectively. The presence of microcracks and increased content of fine size fractions in the crushed product contribute to reduction of energy required for further ball grinding. Besides, HPGR technology applies a special wear resistant liner that enables significant reduction of operation costs of grinding media and liner comparing with AG/SAG circuits."

Jan 1, 2016

By M. El Tokhi, H. Arman, B. M. Amin

"This paper aims to overview some mechanical and physical features of the gabbroic rocks. The study has two phases: filed study/in-situ measurements and laboratory work. During the field studies, rock block samples were collected from different locations of the study area to represent the different types of the gabbroic rocks. Either core or rock samples for various tests were prepared from rock samples taken to the laboratory. The unconfined compressive strength (UCS), indirect tensile strength (ITS), point load index (PLI), Schmidth hammer rebound value (SHV), slake durability index (SDI), sonic velocity (SV) and unit weight (UW) test were carried out either on the selected rock block samples or core samples.INTRODUCTIONThe geology of the United Arab Emirates (UAE) has been divided into three major rock units (Lippard et al., 1986); an autochthonous succession, allochthonous units composed mainly of Mesozoic rocks and include the Sumeini Group (concomittent slope sediments), Hawasina Complex (basinal sediments) and the Semail ophiolite nappe (massive slice of former oceanic crust), that were emplaced as a series of thrust nappe in the Late Cretaceous and Neo-autochthonous sequence of Maastrichtian and Lower Tertiary sediments.The Semail Ophiolite (600 km long and up to 150 km wide) is thought by some authors (Glennie et al., 1990) to have been generated along a subduction related back-arc spreading axis during the Cenomanian-Turonian and was obducted onto the Arabian continental margin during the Campanian. Others, however, consider it to represent a primitive arc-spreading center related to oblique subduction Lippard et al., 1986). The Ophiolitic rocks in the study area comprise mantle and crustal sequences. The mantle peridotite and crustal gabbros are the dominant rock types of the exposed Semail Ophiolite north of the Hatta zone. This paper is only concentrated on the gabbroic rocks."

Jan 1, 2015

By R. L. Eadie, J. L. Luo

The effect of plastic deformation on near-neutral pH stress corrosion cracking (SCC) also known as environmentally assisted cracking was studied by cracking rate measurements. All the tests were conducted in a synthetic near-neutral pH solution. The traditional potential drop tests using compact toughness (C-T) specimens with 2-3 mm long pre-cracks showed varying plastic deformation by rolling would increase the material's susceptibility to SCC. This was confirmed by cyclic loading tests using double notched flat tensile specimens with 200-300 µm long pre-cracks which gave the same results that the specimen with large scale plastic deformation by tensile loading had a relatively faster crack growth rate than that with only small scale plastic deformation.

Jan 1, 2005

This paper presents the results of research aimed at proposing new solutions in the area of belt conveyor elements. Many factors, such as energy consumption costs, and operating costs of belt conveyor elements, including belts, idlers and drives have an impact on the operational costs of conveyors. The paper presents special tests of new materials for the bottom cover of an energy-saving belt conveyor, which decrease rolling resistance. It also presents large-scale in-situ tests of a high-output belt conveyor for the purpose of simultaneous measurements of various types of conveyor belts (standard vs several energysaving types) under typical operating conditions of a lignite surface mine. Improvements in materials used for the bottom belt covers, supported by specially developed comprehensive tests of the new types of belts have provided valuable results of various proposed solutions. Since the tests of belts were done at exactly the same time and in the same operating conditions, direct comparison of the results is valid and should lead to a substantial decrease in the conveyors? drives? energy consumption, which will improve the effectiveness of belt transport and minimize its negative influence on the environment.

Aug 1, 2013

By K. Mayhew, K. Murray

The CESL Copper Process was developed as a hydrometallurgical alternative to smelting and refining for copper sulphide concentrates. As the majority of such concentrates contain appreciable gold and silver values, effective recovery of these metals is essential to the economics of this technology. Unfortunately, conventional cyanide processing cannot be used on the residue from the copper process, clue to its unusual characteristics when compared with naturally occurring gold and silver ores. An abundance of elemental sulphur, as well as the presence of cyanide soluble copper, leads to the formation of both thiocyanate and copper cyanide which is detrimental to process economics clue to excessive cyanide consumption. This, however, can be reduced to acceptable levels by process innovations such as pressure cyanidation and cyanide recovery. This paper outlines the successful application of the CESL Gold Process to various gold-bearing copper concentrates from bench to demonstration scale.

Jan 1, 2011

By N. Djilali

Many of the transport phenomena encountered in proton exchange membrane fuel cells occur intrinsically at the microscale level. Physically representative models that fully account for the salient physico-chemical and transport processes in PEM fuel cells are necessary to achieve truly predictive models that can be used with confidence to: (i) gain a better understanding of in-situ processes and couplings, (ii) explore new concepts, and (iii) support design and optimization. The development of more general, rationally based macroscale models requires use of knowledge on the microscale level to provide guidance, and to determine the required parameters and coefficients (model "constants"). In this paper we present a new membrane transport model, the binary friction membrane model (BFM2), recently developed to account for coupled protonic and water transport in polymer membranes. This general model is based on rational and physical consideration, removes several of the limitations of the empirical models used to date, and is formulated for all purfluoro-sulfonic acid membranes. The use of the BFM2 in a fuel cell model is illustrated highlighting significant performance predictions compared to existing empirical model. The second part of the paper addresses the fundamentals of two-phase transport in hydrophobic gad diffusion media. Computational and experimental visualizations resolving the microscale dynamics of water transport between the fibres of a GDL are presented, revealing transport mechanisms that are, contrary to assumptions used to date, dominated by fingering and channeling.

Jan 1, 2005

By Robert T. McKnight

"Traditional techniques for valuing resource projects companies have been primarily based on discounted cashflow methods (DCF) or by comparison to similar projects with an apparent market capitalization. Many resource projects are really forms of options to invest rather than a future cashflow stream. Employing the DCF method to value a resource project which is really an option to invest, can dramatically underestimate the real value of the project. The analytical tools required to evaluate options, while more complicated than the usual spreadsheets used for DCF, are becoming more easily available and usable by managers. This paper will discuss the background of options valuation and some of the tools which will make it easier for managers to estimate the value of projects and companies which have significant real option values.ResumeBob McKnight is a graduate of the University of British Columbia in Geological Engineering, supplemented by an MBA from Simon Fraser University. Following several years in the oil patch with Cities Service and Brascan, Bob returned to Vancouver in 1979 to work for Wright Engineers. He subsequently went on to work for Cassiar Mining, Getty Resources and Endeavour Financial before joining Pincock Allen & Holt Ltd. in 1998. His experience ranges from exploration to feasibility studies, financial evaluations of mining and oil & gas projects, due diligence, project finance, valuations and mergers and acquisitions. He has extensive international mining experience pertaining to such countries as Chile, Mexico, Uruguay, Thailand, Indonesia, Angola, Papua New Guinea, Kazakhstan.What are Options?Options have been around for centuries. They were familiar to Roman and Phoenician traders who were shipping cargoes from Mediterranean seaports. In the financial world, options are types of contracts that generally include the right, but not the obligation, to buy or sell a share, currency or commodity. The underlying commodity price or share price changes are assumed to be lognormally distributed. In this context, options are of two general types, ""call"" options and ""put"" options. Call options have the characteristic of having the right to buy a tradable commodity or currency at a predetermined price for a specified period of time. For the owner of call options, they become more valuable as the price of the underlying commodity increases. For the seller of call options, these options become an increasing liability as commodity prices rise, since there is the obligation to sell the commodity at a predetermined (perhaps lower-than-market) price. This characteristic of call options recently became high profile with the sharp rise in gold prices last year. The value of gold call options sold by certain producers increased their associated liabilities to the point where margin calls were made."

Jan 1, 2003

By K. Shikaze

"For the last three years (1967-9) the value of the output of mineral resources in the Province of Ontario exceeded one billion dollars per year. To produce this great wealth, it was necessary for the mining industry in Ontario to dispose of an estimated 80 million tons of waste mill tailings. Some of these tailings were returned underground but the greater proportion was disposed of above ground in lakes, watercourses, marshy areas and in engineered impoundment basins. This volume of tailings, if accumulated in one location would cover an area of 1000 acres to a height of almost thirty feet. The provision of proper disposal of the waste mill tailings in a manner such that they will not create problems in the environment is one of the costs which must be borne from the extraction of such a wealth from our mineral resources. It is principally the potential water pollution which may occur as a result of the indiscriminate discharges of waste mill tailings which is of concern to the Ontario Water Resources Commission.ONTARIO WATER RESOURCES COMMISSIONThe Ontario Water Resources Commission was formed in 1956 and operates under the Ontario Water Resources Commission Act. The Act has been broadened and amended many times by amendments."

Jan 1, 1970