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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 J. K. Gowans

The Research and Design group of the Project Development Division (PDD) of Placer Dome Inc. includes metallurgical, electrical, civil and mechanical engineers. They provide metallurgical research and conceptual flowsheet development, feasibility concepts for the processing and ancillary facilities, and manage the detailed design of the facilities once approval has been given to a mining project. This paper describes how this group works, within the Project Development Division, to help develop feasibility studies with the Evaluations Group, manage detailed design, and provide support for the Construction Group. The paper briefly reviews the history and growth of the group and describes how it is evolving. The role of outside engineering firms and how they are incorporated into the division’s objectives are also discussed. The paper highlights the differences between Placer Dome’s Project Development Division and other mining groups, and why this approach fits the way Placer Dome does business.

Jan 1, 1998

By SANDVIK WHITE

The mining industry produces approximately 4-7% of global greenhouse gas (GHG) emissions. It is fundamental for mining operations to take immediate sustainable action to actively contribute to an emissions-free future for the next generations. The mining industry has traditionally relied heavily on diesel technology and transitioning to more sustainable solutions requires change management to drive cultural acceptance and new product development. Sandvik was interested to find out the lifetime emissions of a single drill rig and to compare similar application diesel and BEV drill rigs with same use profile to each other. That led the calculation and pondering towards comparing different countries and mine sites as well

Jan 1, 2023

By S. J. Prout, J. M. Lang, D. Lascelles, K. Sarinas

"There is a growing demand for ore characterization methods to support metallurgical development programs from a true geometallurgical perspective. Today, there are multiple automated mineral analysis systems on the market, many of which are based on conventional mineral liberation data. However, liberation data can be limited when assessing the floatability of a mineral to predict its recovery as it doesn’t consider the surface area available for collector absorption and bubble attachment; whereas mineral exposure measurements can. Using the First-Order Rate equation to predict the recovery versus time of variously exposed particles, a model has been developed to predict the recovery of copper sulphides at a particular grind size. This model provides the opportunity for the prediction of copper recovery and grade from multiple, small-scale samples. These predicted values can be imported into resource modeling software, and guide the domaining of geometallurgical units within the ore body. Data has been analyzed from various global copper porphyry systems and compared with actual flotation testwork.IntroductionAs part of the development of a mining project, resource estimation primarily focuses on the definition of the quantity and grade of the ore in the deposit; as the project evolves from preliminary economic assessment through to feasibility, the geological model is usually further populated with hardness and recovery data.The CIM Definition Standards (2011) identifies measured mineral resource as the part of a mineral resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of “modifying factors” to support detailed mine planning and final evaluation of the economic viability of the deposit as an asset. The modifying factors include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.With market fluctuations, many investors in the mining industry have become more and more risk averse which has increased the demand for more reliable data to support these modifying factors. This has led to the widespread use of geometallurgy and statistical analysis to better inform the resource estimation. Geometallurgy is used to characterize ore variability and is especially useful for highly variable or strongly zoned deposits, several close deposits that will be milled together, projects requiring complex or new metallurgical approaches, brownfields or sight-of-mine exploration, expansion projects that exploit new, deeper or adjacent reserves, and projects with significant legacy drill core that are being re-evaluated due to new economic circumstances."

Jan 1, 2018

By M. Somppi, Z. Yamak

"Gold producers invest significant effort in mining, processing, and creating an intermediate gold doré product. Nonetheless, equal effort should be extended to the final handling and processing of the doré bar, and managing the high-purity gold produced at the fine-gold toll refiner. This detailed attention to bullion handling and refining provides rigor and confidence that the mine site is achieving, through fair and controlled methodology, the most appropriate value for the final product. With the above in mind, the following study explores the importance of preparing a set of site best-practices for bullion handling and specifically, detailing the peculiarities of sampling methodologies and the impact on assays.INTRODUCTION Gold and silver handling practices are common place at mine sites and refineries. The practices include but are not limited to smelting, ingot casting, weighing practices, and secure transportation. Proper handling and processing of the bullion material ensures that the mine site is achieving the true value of the final product. Various handling aspects can critically impact the perceived value of the bullion. A few of these particulars include weight tracking, scale recertification and calibration, refining and melting practices, melt temperature measurement, sampling, pouring, bar cleaning, furnace technology and crucible selection, and assaying. Nevertheless, this report discusses and focuses on the importance of proper sampling and molten-metal temperature measurement and their potential impact on the final doré bar value. Refining or re-melting operations achieve a proper measure of the precious metal content of its bullion when the sample accurately represents the whole bar. At first this task appears seemly straightforward, however, taking a representative sample can be challenging and is also one of the most important tasks for valuing gold during the settlement stage at the precious metal refinery. Various bullion sampling methodologies exist; including: dip sampling, granulation, drilling, cutting, and vacuum pin sampling. The Royal Canadian Mint (2009) indicated in their technical review of refinery operations that pin sampling is one of the best methods for cases where representative sampling and accuracy are required, e.g. to determine the payable metal content. Pin sampling consists of inserting a sealed glass vacuum tube (Figure 1) into the molten metal; when the molten metal contacts a purposely-designed weak portion of the glass, the seal breaks and the metal is suctioned into the hollow centre (Figure 2)."

Jan 1, 2018

By Paul B. Warrington

This paper presents a discussion of the factors affecting copper scrap markets, including such items as price levels, freight. grades of material, sources and packaging. Reference will also be made to the effective life and turn-around of the copper content of some products. Introduction IN TERMS OF SIZE, copper scrap is second only to ferrous scrap in tonnage recycled. However, in total value, it is second to none. For example, world scrap recovery during the preceding 4 years averaged just under 2,300,000 metric tons per annum, and at an average price of 70 ¢ a pound, this works out at a turnover of about $3.5 billion, which indicates that the copper scrap industry, or recycling as it is now becoming known , is a substantial one.

Jan 1, 1977

By A. Pearson, F. A. Auld, S. O. Colbeck

"""The theory of buckling of shafts and Steel tunnel-linings"" was published by E. Amstutz in 1970 and commented on by S. Jacobsen in 1974. The authors have revised and enhanced Amstutz’s work to address Jacobsen's comments on its limitations and to extend its validity over a wider range of pipe/shaft geometries, including those commonly found in deep mine access shafts. The author has looked at Amstutz’s assessment of strengthening with flexible shear anchorages and adapted the theory of non-linear shear deformation response of bolts to develop a method of assessing increased buckling capacity utilising the full plastic shear capacity of studs. INTRODUCTION “Amstutz Buckling” refers to the buckling of pipe embedded in concrete under external uniform pressure. In terms of a mining environment, this relates directly to the design of a watertight shaft. This load case will commonly occur where a main shaft is cast against a geostatically stable primary liner and the only load applied to the final shaft is that of a uniform ground water load. Ernst Amstutz wrote his first paper on buckling of pressure-shaft steel linings in 1950 and subsequently improved his theory (Amstutz, 1970), which was then widely adopted for use within the industry. Years later, an alternative approach (Jacobsen, 1974) was proposed. Within his paper Jacobsen critiques Amstutz work, identifying some mathematical inconsistencies and highlighting limitations of the theory imposed by approximations adopted by Amstutz. Despite these limitations Amstutz work has still been used as the favoured design theory for use in the mining industry. In reviewing this body of work the author realised that with the advent of readily available computing software it was possible to adopt an iterative approach using Amstutz approximate formulae to find a solution to the original precise formulae, thus eliminating the limitations highlighted by Jacobsen The shear deformation to load characteristics of bolts has long been established (Crawford & Kulak 1968) and used for the plastic design of bolted connections in shear. This relationship is directly transferable to the design of shear studs, typical properties are well known, and actual values easily established in simple lab tests. The author has taken this relationship and modified Amstutz theory (Amstutz, 1970) for shear anchored strengthened liner buckling, to give a more efficient solution, using readily available material properties."

Jan 1, 2019

By L. E. Puddington, A. L. Mular

"Since the inception of spherical agglomeration, few investigations to exploit commercially the technique in the metallurgical field have been conducted. Of these, none appear to have been carried sufficiently far to demonstrate commercial feasibility.This paper describes a continuous agglomeration-separation process that can rapidly handle large tonnages of ore material. A small pilot plant de-signed from information obtained with the semi-batch unit described herein is currently in operation.In the absence of a reagent recovery system or cheap reagents, the process is probably not economically attractive for many common ores. However, for iron ores, the fuel content of the agglomerates can be used in a subsequent step such as direct reduction."

Jan 1, 1968

By M. A. Power

The diamondiferous Drybones Bay kimberlite pipe is the largest pipe (900 m by 400 m) discovered to date in the Northwest Territories. The pipe intrudes granodiorite of the Archean age Defeat Pluton and contains crater, reworked crater (epiclastic) and diatreme facies kimberlite. In-situ measurements of seismic p-wave velocity were recorded with in-line refraction arrays over representative areas. Refractions from fresh kimberlite were recorded over epiclastic facies kimberlite in the eastern portion of the pipe and returned an average velocity of 4300 m/s. Refractions from weathered kimberlite were recorded on all lines and returned velocities ranging from 1900 m/s to 2200 m/s. Granite surrounding the pipe returned an average velocity of 5400 m/s. The results indicate that there is a definite contrast in seismic velocities between kimberlite and country rocks at Drybones Bay and suggest that seismic refraction surveys may be an effective means of screening kimberlite targets in glaciated areas underlain by igneous or metamorphic rocks.

Jan 1, 1998

By S. Espley, G. Tan

"Inco's Little Stobie Mine is a low-grade nickel operation producing approximately 4()()() tons per day. Backfill has never been an economical option at the mine; therefore, the only viable type of mining in the upper zones has been by sub-level cave. This mining method allows for the draw-down of a rock cover into the empty stopes to provide stability to the over-all rock mass. In the lower areas of the mine, bulk blasthole mining methods have taken place, without rock fill, resulting in extremely large open stopes. As the mine reaches its final stage of recovery, it is inevitable that the hangingwall of the large voids will undergo tensile failure via spoiling.This paper deals with the collaborating efforts of Inco's Rock Mechanics group and the Little Stobie mining operations toward the successful recovery of the ore zone remnants such that the inevitable failure, and time of failure, of the rock mass is ""controlled"". Within the mining scheme, several key requirements had to be met to satisfy the operations: (1) production rates; (2) good blast fragmentation; and (3) secure pulling-horizons. A full-scale rock mechanics study was carried out involving: numerical modelling studies; pulling ellipse analyses; blast design, monitoring and analyses; laser profiling; and time domain rej7ectometry (TDR) instrumentation. The final recovery scheme, employing a controlled failure, involves recommendations on: (1) blasting techniques; (2) support systems; (3) mining sequences and scenarios; and (4) monitoring systems."

Jan 1, 1994

Infrared spectroscopic data collected using HyloggerTM technology is being used to assess the mineral composition of Archean iron ore bedrock and Cenozoic detrital units in Western Australia’s Pilbara region. Analysis of infrared spectra enables quantification of: (1) composite iron mineralogy, (2) composite clay mineralogy, (3) hydrous silicates and (4) carbonate mineral abundances. Stratigraphic and rock mass unit logging of core has identified several detrital and bedrock units recognisable across the Pilbara. However, due to alteration related to mineralisation, weathering and later stage precipitate overprinting, it can often be difficult to assess the detrital-bedrock boundary and the occurrences of specific geotechnical units in the detritals and bedrock, particularly when using non-core drilling techniques and traditional geochemical assays. Infrared spectroscopic data collected concurrently on core from several sites has shown distinct correlation against existing unit subdivisions and associated geochemical parameters. Where infrared spectroscopic data have also been collected on rock chips recovered from reverse circulation infill drilling, these correlations allow robust geological and geotechnical models to be developed based on the typical mineralogical-geochemical signatures. The geotechnical sub-units identified in core can be readily distinguished using the various iron and clay minerals captured by the HyloggerTM technology as opposed to total iron, potassium, and alumina captured by geochemical assays. Further, some of the minerals targeted by infrared spectroscopic analysis (eg gibbsite, white mica, vitreous goethite) and their ubiquitous presence as the products of weathering, assist in recognition of various ancient weathering surfaces and help to define the origin of the material, whether bedrock or detrital. Overall, HyLogging of core and chips allows important mineralogy focussed data to be captured at minimal additional financial outlay. Correlations against geochemical unit identifiers are robust both within deposits and between deposits. Significant improvements in the confidence of geological and geotechnical models are attained.

Jan 1, 2015

By V. Taylor

"THE petroleum industry in Canada has been experiencing considerable difficulty in filling its manpower requirements during the last few years, and because of the rapidly expanding nature of the industry it is concerned about the supply that will be available to fill the needs of the future. As the oil industry is one of the more technically oriented industries, the most acute problem exists primarily in the field of profession-al/technical personnel. This is particularly true in the production and exploration side of the business, because it employs the highest percentage of this type of personnel. Let me illustrate this by giving you some figures reported by the Alberta Bureau of Statistics as of December, 1965 -out of a total of 9,641 male employees engaged in oil producing and geological and geophysical operations in Alberta, 3,021, or 31 per cent, were classified as engineers, geologists, geophysicists, managers and other professional personnel. No figures are available for 1946 to make a direct comparison of the expansion of the industry over the past twenty 466 years, but it is doubtful whether more than 100 professional/technical people were engaged in producing in Alberta at that time"

Jan 1, 1967

By J. K. Shaw

The science of low temperature engineering is well entrenched in mining. Uses for common cryogens, including liquid oxygen (LOX), liquid nitrogen (LN2), and liquefied natural gas (LNG) in the gas and minerals industries are reviewed. Potential future applications are discussed within the scope of mining, particularly in refrigeration and ventilation. The second part of this paper focuses on the Linde cycle, which is at the heart of most liquefaction plants. Steady state equations describing the mass and energy flows are presented. The paper concludes by explaining the concept of a wind powered Linde- Hampson cryogenic cycle and assessing, with scoping calculations, the technological feasibility of producing cryogens with an intermittent source of (renewable) energy.

Aug 1, 2013

By A. Alfantazi, M. Mahon

The current efficiency in zinc electrowinning is a key indicator of the performance in a cell house. This is typically measured by comparing the weight of the cathode to the electric current applied over the deposition period. This calculation can be cumbersome because the deposition history of each pulled set of cathodes will be unique. It will depend on the applied current and electrolyte conditions from onset of deposition until the cathode is removed and stripped. Not accounting for these can introduce errors to the calculated current efficiency. To track this history and reconcile the current efficiency, a time based computer process simulation was made of an industrial cell house. Two months of hourly recorded measurements from the cell house were input to the simulation, including current to the cell houses, concentrations, flow rate, and temperature of the purified leach solution. The simulation’s predictions of the concentration of zinc in the circulated, spent, and returned electrolyte all showed good agreement with the industrial data over the two months giving a validated zinc balance. The simulation was then tuned to predict the instantaneous current efficiency for all times, as well as the expected masses for the deposits given their deposition history.

Jan 1, 2014

By W. J. D. Stone

"For several years, the existence of a deposit of barite (BaS04) near Brookfield, Nova Scotia, has been known. A very large deposit of strontium (SrS04) near Sydney, Cape Breton, is a more recent discovery. Cape Chemical Syndicate has been formed to work the deposits. A five-million-dollar integrated mineral processing and chemical plant is planned for Sydney to produce various compounds of barium and strontium. The mineral processing plant includes the Jones Wet Magnetic Separator and will produce high-purity barite and celestite. These products will be processed further in the fine grinding plant and the chemical plant. The general project is described, covering the deposits, processing and markets."

Jan 1, 1969

By D. R. E. Whitmore, J. M. Harrison

There are five logical stages in the search for orebodies in virgin territory, namely: (1) reconnaissance inventory of geology, and related investigations; (2) development of broad concepts as a basis for selecting regions of potential mineral deposits; (3) assessment of criteria leading to specific localities within these regions; (4) geo-physical and geochemical studies that will delineate small anomalous areas; and (5) stripping, drilling or other means of locating ore. In addition, the development of new means of extracting mineral resources and the finding of new uses play a vital role in our mineral industry. The continued growth of this industry will be largely governed by our ability to develop or to adapt new concepts and techniques, and to produce a greater number of scientists and engineers. It should always be remembered that more than one-third of Canada's exports are dependent upon our ability to find, develop and economic-ally exploit new orebodies.

Jan 1, 1967

By T. Verdel, Y. Gunzburger

Rockfalls are major and essentially unpredictable sources of danger, particularly along transportation routes (roads and railways). Thus, the assessment of their probability of occurrence is a major challenge for risk management. From a qualitative perspective, it is known that rockfalls occur mainly during periods of rain, snowmelt, or freeze-thaw. Nevertheless, from a quantitative perspective, these generally assumed correlations between rockfalls and their possible meteorological triggering events are often difficult to identify because i) rockfalls are too rare for the use of classical statistical analysis techniques and ii) all intensities of triggering factors do not have the same probability. In this study, we propose a new approach to investigate the correlation of rockfalls with rain, freezing periods, and strong temperature variations. This approach is tested on three French rockfall databases, the first of which exhibits an outstandingly high frequency of rockfalls (approximately 950 events over 11 years), whereas the other two databases are more typical (approximately 140 events over 11 years). These databases come from (1) the national highway RN1 on La Réunion Island, (2) a railway in the Bourgogne-Franche Comté region, and (3) a railway in the Auvergne region. Whereas a basic correlation analysis is only able to highlight an already obvious correlation in the case of the “rich” database, the newly suggested method appears to detect correlations even in the “poor” ones. Indeed, the use of this method confirms the positive correlation between rainfalls and rockfalls on La Réunion Island database. This method highlights a correlation between cumulative rainfalls and rockfalls in the Bourgogne region, and it detects a correlation between the daily minimum temperature and rockfalls in the Auvergne region. This new approach is easy to use and also serves to determine the conditional probability of rockfall function of a given meteorological factor. This approach will help to optimize risk management in the studied areas based on their meteorological conditions. Nevertheless, even if some rockfalls are correlated to meteorological factors, other seems to occur independently of these factors, which highlights the unpredictability of rockfall hazard.

Jan 1, 2015

By Graham Farquharson, Jame Marshall

"Mining towns have always been an important part of Canadian geography. Many Canadians grew up in them. The frontiers of northern Canada would be a lot closer to the United States border but for the pioneering of new mines, new towns, and new transportation routes. Names such as Labrador City, Chibougamau, Val d’Or, Rouyn-Noranda, Kirkland Lake, Timmins, Sudbury, Red Lake, Thompson, Flin Flon, Yellowknife, Whitehorse,Trail and Kimberley are some of the better known larger communities that have grown to become major commercial and government centres, but which started as the base for a mining development.Many other smaller towns never grew beyond being small communities, dependent upon the local mine and many of these are still alive, but perhaps not quite what they used to be. In this list would be Buchans, Schefferville, Chapais, Cadillac, Virginia town, Lynn Lake, Uranium City, Pine Point, and Keno Hill.Nevertheless, all these towns and dozens more like them were residential communities where people lived and raised families and were quite accustomed to being days from the major centres of Montreal, Toronto, Edmonton and Vancouver, and not just hours away as wet end to measure travelling time today."

Jan 1, 1996

By J. W. Bingay

The expansion of the mining industry, with other industries, of course, is dependent upon a supply of fresh capital from year to year. Mining is a speculative form of investment, though there is a wide range of risk as between indiudual undertakings. All of the leading financial writers, nowadays, agree that expansion is being seriously interfered with by the unprecedented load of taxation Canadians are carrying. Individuals have less for investment and corporations are obliged to defer necessary expenditures in order that the demands of the taxing authorities may be met. Naturally, speculative investments such as mining exploration suffer first. Undoubtedly, a great deal of cash raised by taxes, if left in the hands of individuals and corporations for investment and expansion, would have been far more beneficially used and would have developed the country more than any use made of it by the government, in the way of bonusing new industries, or the undertaking of large schemes of development. Government undertakings of this nature are often entered into without a proper knowledge of cost and probable return. Expert expenditure of the same sums by business men or corporations undoubtedly would generally produce more prosperity for the country as a whole. The absolute necessity for lower taxation is being increasingly known to the public at large, and eventually it is hoped that our governments will see the economic impossibility of continuing the present rate of expenditure. The successful Finance Minister of the near future will not be the one who can borrow the most money.

Jan 1, 1924

By A. Ignatow

"A review is made of some of the principal factors and conditions that are, and will be, important to the over-all market climate for asbestos fibre and for the future of Canada's asbestos industry: - health hazard associated with asbestos exposure;- uncertain international regulatory environment for continued asbestos use;- adverse public reaction to asbestos;- product liability/litigation costs (U.S.A. primarily);- promotion of substitution by governments and asbestos user industries; and- minimal product and market development efforts by asbestos producing and consuming industries.In addition, Canadian producers, who export some 95 per cent of their production, face additional constraints:- dramatically reduced integration with asbestos-consuming industries;- 60 per cent of exports to most rapidly declining markets (U.S.A., Europe);- increased competition from offshore producers favourably located to growth markets in developing countries;- increasing production costs;- a strong dollar;- disadvantageous freight rates; and- loss of price leadership and price erosion.Future market trends, as well as prospects for Canada's asbestos industry, will be projected in this paper.Economic FactorsTable 1 presents asbestos fibre production in all countries for the period 1980-82. In certain instances, e.g. U.S.S.R. and China, these are capacity estimates as production statistics are not officially published. The U.S.S.R, by far, is the world's largest producer accounting for some 50 per cent of world production, though most production is consumed internally or by COMECON countries. It is estimated that some 700 plants produce asbestos-containing products within the U.S.S.R.Canada accounts for some 25 per cent of world production though it ranks first in world trade. Other important producers are South Africa Zimbabwe, Brazil and Italy. Since 1979, Canada's asbestos mining industry has experienced a dramatic drop in production and exports of asbestos fibre, as demonstrated in Table 2."

Jan 1, 1985