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By H. Tetu, F. Pells

"The copper-molybdenum property of Brenda Mines Limited is located in the Okanagan district of British Columbia, approximately 25 miles west of Kelowna. The Okanagan Valley is a resort and fruit-growing area, and therefore pollution control measures are more stringent than in some remote areas.The Brenda plant began production in April 1970 and is operated at a rate of 24,000 tons per day. The plant site is located at an elevation of 4,800 feet, which is approximately 3,600 feet above the level of Okanagan Lake. The site is in the Okanagan drainage basin.The major consideration in the design of the system was the prohibition of any downstream discharge. It was therefore necessary to redaim as much water as possible and to minimize the addition of fresh water to the system. The maintenance of a water balance is of critical importance.This paper will outline the major design criteria for the systems and the site investigations which were carried out. The design and construction of the facilities will be de-scribed and current operating experience will be outlined."

Jan 1, 1971

By J. R. Fisher

"Uranium may be leached to some extent in situ from the Blind River conglomerate uranium ores by using the products of bacterial activity from the bacterium Thio-bacillus ferrooxidans his paper describes some of the laboratory techniques used to investigate the characteristics of the bacteria, and to utilize their properties in uranium leaching. The application of some of the laboratory results underground at the Milliken mine of Rio Algom Mines Limited are de-scribed, along with the method of uranium recovery from the mine waters."

Jan 1, 1966

By R. R. Rogers

ABSTRACT The experiments described demonstrate that crude commercial lithium containing in the order of 0.5 per cent sodium can be refined, the resulting metal containing as low as 0.001 per cent sodium. During the process, the metal is vaporized and condensed at a gauge pressure of less than 0.04 micron. Considerable operating data and a detailed description of the experimental equipment are included. INTRODUCTION DUE TO THE unusual properties of lithium metal, its use is likely to increase considerably during the next few years (1, 2). This is of particular interest to Canadians because there are important deposits of lithium-containing minerals, especially spodumene, in Canada and it is hoped that lithium compounds and lithium metal will be produced from these deposits in the fairly near future. In order to assist in the development of this industry, the Mines Branch of the Department of Mines and Technical Surveys has initiated a programme of research in lithium metallurgy. In 1948, a paper (4) was published on methods of producing lithium metal and its alloys. Data on the corrosion resistance of some lithium alloys were included. In 1949, a paper (3) was published which showed that the addition of a small percentage of lithium to zinc anodes used for cathodic protection will improve their usefulness under certain circumstances.

Jan 1, 1951

By F. Barriga-Ordonez, J. A. Finch, L. Calzado, S. R. (Ram) Rao

Sludge, formed by lime treatment of acidic drainage and stored in tailing ponds of the Sudbury region, contains 5-7% Ni, mostly in a mix of hydroxides with Fe (~ 10%), Mg (~ 10%) and Cu (-0.5%), and Ca (-3.5%) as sulphate. Investigations were conducted to recover nickel by a 2-stage process. In the first stage, the sludge was leached with sulphuric acid at pH 3.2. About 90% of the nickel was extracted, producing a solution, which contained mainly nickel (2 g/L) and magnesium (3.7 g/L). In the second stage, nickel was separated by treating with ozone which recovered 99% of the nickel in the Ni(III) oxidation state as -85% pure nickel oxide-hydroxide (NiOOH) precipitate. The oxide settled and filtered readily. A potential use of the product in battery making is suggested. The leach residue contained 0.5% Ni making it less toxic for disposal. Some physical properties of nickel oxy-hydroxide and process parameters including ozone consumption will be discussed.

Jan 1, 2005

By I. M. Gordon

"INTRODUCTIONThe Hollinger tailing disposal plant is situated about 1 1/4 miles south of the mill. The area available for tailing covers 620 acres and is roughly 1 ¼ miles long by ¾ mile wide.Tailing was first deposited on the northeast section of the present site. This section, 1 mile long by ~ mile wide, sloped from northeast to southwest, the slope amounting to 106 feet between the northeast corner and the low land to the south west. The low land was wet and a considerable area was covered with muskeg up to 17 feet deep. It was drained by a creek running across the property in a southwesterly direction. Later, when more ground was needed, the low lying mining claims adjacent to the south and west boundaries were acquired to allow for expansion of the plant. This entailed some extra difficulties and expense that would not have been necessary had the whole of the present site been acquired with the original purchase.At the conclusion of milling, May 7, 1968, the site contains nearly 56 million tons of tailing. The top of the deposit is from 70 to 90 feet above the original low lying ground along the northwest, west and south boundaries."

Jan 1, 1969

By J. U. MacEwan

Introduction The equilibrium between copper, zinc, and chlorine may be considered as the simultaneous equilibrium of the two separate chemical reactions of formation of the stable chlorides of copper and zinc at the temperature of the reaction i.e., l440°K. (1,167°C., 2,133°?F.)§ [Zn(g) +Ciz(g) ZnCl2z(g). ... (1) ] [2Cu(l)+Cbi'g) Cu2Cl2(l 1 ....... (21 ] Subtracting, [Zn(g) +Cu2(Clz(l i ZnClz(g) +2Cu!l) ... . (3) ] If this reaction is carried out with a copper-zinc alloy at some constant temperature above the melting point of brass, and at a total pressure of one atmosphere, the equilibrium concentrations obtained will depend on the free energy decrease .of the reaction as written in (3) and on the activities of the various components in. the reaction mixture. If the equilibrium is examined from the point of view of the phase rule, it is a three-component system, and if it exists in two phases (liquid and gas) it will have three degrees of freedom. If the restrictions of constant temperature and pressure are imposed, the degrees of freedom are reduced to one. This means that, in a two-phase system under these conditions, each different alloy phase will be associated with a gas phase of constant composition.

Jan 1, 1951

By T. T. Tigert

INTRODUCTION THE PURPOSE of this article on methane is to present the simple basic facts of the characteristics, detection, occurrence, and control of this natural gas in metal mines, so that operators and .safety men may deal with it with some degree of confidence. Fortunately, although methane has been noted at many metal mines throughout Canada, the occurrences usually are small flows of short duration, and the ignitions experienced have, in most cases, had minor consequences. However, methane does present a hazard that can be of serious proportions, and ?any complacent attitude toward this gas that might exist in the minds .of people engaged in underground mining operations should be dispelled when it is ,pointed out that, in Ontario alone, ignitions of this gas have resulted in at least four fatalities, and eight men seriously injured and burned, during the past three years. lt is well-known that liberation of methane can and does .occur suddenly, often in mines where no gas has been found before, and that many ignitions and explosions have occurred in so called non-gassy mines. In view of this, it is apparent that no mine can, with any degree of certainty, be classified as non-gassy. CHARACTERISTICS OF METHANIZ The characteristics of natural gas encountered in most of the Ontario mines indicate that methane is the chief constituent. Methane (CH4), commonly termed 'marsh gas', and by the coal miner 'firedamp', is a colourless, odourless, and non-poisonous gas considerably lighter than air, and is the explosive gas frequently found in coal mines. Its physiological effects, closely resemble those resulting from nitrogen.

Jan 1, 1951

By E. Herrera, L. Mariscal

"Ilo Copper Smelter operates since 2007 with an ISASMELTTM furnace as a single smelting unit (1,200,000 tpy) associated with two Rotary Holding Furnaces for separation of matte and slag, and which directly produces a discard slag. Southern Peru continually has been improving the slag chemistry of its ISASMELTTM furnace in order to reduce copper losses, given its big economic impact due to large slag mass generation. The present paper describes the influence of the CaO, Al2O3 and magnetite content in the slag of the ISASMELTTM furnace correlated with the SiO2/Fe ratio and its liquidus slag. Also it defines the best slag chemistry and operating practice in order to reduce the copper losses without compromise the bricks life of the furnace.INTRODUCTIONIlo Copper Smelter of Southern Peru (Grupo Mexico) is located on the southern coast of Peru, and treats mainly copper concentrates produced in its own mines (Toquepala and Cuajone).The modernized smelter was commissioned in 2007 and operates with an ISASMELT™ furnace as a single smelting unit (1,200,000 tpy), which is associated with two Rotary Holding Furnaces (RHF) for separation of matte and slag. This slag is directly sent to the dump. Figure 1 shows the smelter flow diagram.The ISASMELT™ process is a bath-smelting process using a single lance. The lance tip is immersed into a molten slag bath contained within the stationary, vertical, refractory-lined ISASMELT™ furnace. The injection of oxygen-enriched air, through the lance into the slag results in a highly turbulent molten bath. Feed material falling into the turbulent bath from above reacts rapidly, resulting in extremely high productivity for a relatively small bath volume."

Jan 1, 2012

By Olav Mejia

The rising energy costs and environmental considerations in mining necessitate the development of energy-efficient copper and gold processing plants. This paper presents an analysis of technical strategies aimed at reducing energy consumption in these plants. Key approaches include the integration of advanced ore sorting technologies, High Pressure Grinding Rolls (HPGR), Coarse Particle Flotation (CPF), and high-intensity flotation. Ore sorting enables early-stage waste removal, reducing the downstream processing load and associated energy use. HPGR technology, recognized for its energy efficiency, contributes to significant energy savings in comminution circuits by reducing reliance on traditional grinding methods. CPF technology further optimizes flotation performance by enabling the recovery of larger particles, thereby decreasing the need for fine grinding and reducing overall power demand. High-intensity flotation units enhance separation efficiency and mineral recovery in a compact footprint, offering further reductions in energy consumption. Together, these technologies provide energy saving opportunities to achieve a more sustainable and economically viable processing operation. This paper evaluates the effectiveness of each method, highlighting their potential impacts on energy consumption, operational efficiency, and cost-effectiveness in copper and gold processing

May 4, 2025

By D. Groenveld, M. Rozou

"Recent trends move towards automation, smart sensors, internet of things, powerful DCS, and more data. Are those trends already utilized in a real time production environment? Today operators still have to monitor several complex processes at the same time and predict their behavior based on an overwhelming amount of data available.The fact of the operator being overloaded and humans being unable to process multivariable problems shows the need of a tool merging essential data and providing consistent, sound decisions for long-term profitability.This paper shows a successful execution of ABB’s process improvement services in Aitik (Boliden SA), a copper mine located in Sweden. Soft sensors, fuzzy rule blocks and model predictive control were seamlessly integrated in the control system of the grinding area, resulting in proper control of mill loads and particle size without violation of any constraints.INTRODUCTIONDepending on the ore characteristics and the targeted plant capacity, the design of the grinding circuit may vary significantly. Typically, the circuit consists of several mills (rod, ball, SAG, AG) in series and/or parallel with a number of classifiers and sumps at appropriate locations. The goal of the grinding section is to reduce the ore particle size to a level that enables efficient separation between gangue and precious metals in the subsiding processing step. The trade-off between quality and quantity has to be made. It is also crucial to execute this process step at the lowest possible energy and grinding media consumption.An optimal grinding process controller must manage to maintain a given fresh feed level while keeping the product size within a given range without violating any constraints such as power, torque or load limits. To accomplish the aforementioned, it is necessary to manipulate the ore feed rate, water feed rate and the mill speed. The most significant disturbances adding another degree of complexity to this control problem are ore hardness and the amount of circulating load."

Jan 1, 2016

By B. Dyck, L. Verhelst

"Colloidal silica in Key Lake’s Solvent Extraction (SX) feed solutions has presented an operational problem for the mill throughout its history. The colloidal silica stabilizes aqueous continuous emulsions, resulting in elevated solvent losses and operational downtime. Through the years, many attempts have been made to solve this problem, but no viable solutions were found. By revisiting an idea dating back to the 1979 feasibility study and re-evaluating it under current operating conditions, a practical solution was achieved. This paper discusses Key Lake’s history around colloidal silica removal, starting with coagulation using a polyethylene oxide polymer (PEO), and ending with coagulation using a polyethylene glycol (PEG) polymer. The results of a mill trial using POLYSIL® RM1250 introduced at doses up to 300 ppm into the counter current decantation (CCD) circuit to clarify SX feed solutions are discussed with a focus on the benefits to SX.INTRODUCTION Colloidal silica has historically been a significant operational problem in the Key Lake mill. Silica originates from clays in the ore as well as concrete backfill intermixed with the ore resulting from the mining method used at Key Lake’s ore source, the McArthur River mine. The silica is dissolved as silicic acid into solution in the mill’s sulphuric acid leaching circuit. Once in solution, silicic acid polymerizes (Hearn, Smethurst, & Boskovic, 2016) forming a fine suspension of stable colloidal particles. These silica colloids are unaffected by flocculants and sand filtration reporting to the pregnant leach solution (PLS) as a fine turbidity in solution. Silica concentrations typically ranged from 700 to 1200 mg/L Si in the PLS fed to SX. Throughout Key Lake’s history, silica interactions in the Solvent Extraction (SX) process have made SX a mill bottleneck and a source of significant reagent costs."

Jan 1, 2018

By A. L. Mackie

Arsenic is a highly toxic element and a known human carcinogen. It is often a contaminant in mine water discharges, particularly from gold mining and roasting operations, and has been found at concentrations as high as 4 g/L. Increasingly stringent controls on the concentration of arsenic allowed to be discharged into the environment cannot always be met by current treatment processes and thus enhanced technologies are required to achieve low treated effluent concentrations at reasonable costs. A novel two-step physicochemical treatment process was developed and tested at the bench-scale using synthetic mine water solutions (SMWs) in order to reduce arsenic concentrations in treated effluent to exceed current discharge regulations. The process includes chemical coagulation with ferric sulphate and ballasted flocculation for enhanced solid-liquid separation. The SMW contained 59 ± 2 mg/L arsenic with a slightly alkaline pH. The effect of arsenic speciation on the process was tested by using either arsenite, As(III), or arsenate, As(V), in the SMW solutions. Tests were performed at cold temperature (3 ± 1 °C) to ensure the process? efficacy year-round in northern climates. Arsenic in As(V) SMW solutions was removed to a final total concentration of 0.0054 ± 0.002 mg/L, almost half the current recommended allowable drinking water concentration of 0.010 mg/L. As(III) was removed to a concentration below the Metal Mining Effluent Regulations? (MMER) current limit of 0.50 mg/L, to 0.32 ± 0.06 mg/L, with double the coagulant dose used in Stage 1 for As(V) removal. Oxidant addition at a concentration of 5 mg KMnO4/L in Stage 2 resulted in final total arsenic concentrations of 0.017 ± 0.002 mg/L and pH adjustment with lime in Stage 2 resulted in 0.0415 ± 0.0007 mg As/L in treated As(III) SMW. Both of these modifications to the process reduced arsenic concentrations to below proposed new MMER limits (i.e., 0.10 mg/L). This two-stage treatment process was shown to reduce arsenic concentrations to well below current treatment guidelines while reducing or eliminating chemical oxidant demand.

Aug 1, 2013

By J. S. Roper

"IntroductionSNOW LAKE is situated in northern Manitoba at latitude 54° 55 and longitude 100°, 400 miles northwesterly of Winnipeg, 80 miles northeast of The Pas, 80 miles east of Flin Flon. A 38-mile road from Wekusko, on the Hudson's Bay railway, serves the community.The mine is located in and close to the southern edge of the Precambrian Shield in typical low-relief muskeg and lake country.The Howe Sound Exploration Company, Limited optioned the property from Nor Acme Gold Mines, Limited, after preliminary diamond drilling had outlined two orebodies of low-grade arsenical gold ore.Following the examination and study of geological data and of 50,000 feet of diamond-drill core, and metallurgical tests made during 1942 to 1945, a decision was made to develop the mine and build a 2 ,000-ton mill concurrently. This development has been described by G. C. Lipsey in a paper entitled The Development of a Mining Operation from Diamond-Drill Data which was published in the August. 1952, issue of Mining Engineering.Geological Features of the OrebodiesThe orebodies at Snow Lake occur in volcanic rocks of acid to basic composition and, to a lesser extent, in intrusive hornblendite. The hornblendite is a massive, uniform, .coarse-textured rock except in the immediate vicinity of the ore zone, where it becomes sheared and carbonatized. The acid volcanics have been converted to quartz-garnet-biotite gneiss, and the basic volcanics to amphibolite gneiss. Orebodies have been formed by the replacement of all three rock types."

Jan 1, 1955

By Kevin J. Melong

"Redpath Canada Limited and joint venture partner Thyssen Mining and Construction Canada have recently completed the sinking of the Scissors Creek service in Saskatchewan through its joint owned company, Associated Mining Construction (AMC). The Scissors Creek service shaft was sunk at Nutrien’s Rocanville mine. The following paper outlines the shaft sinking plant and the methodology related to sinking and shaft lining. KEYWORDS Hydraulic shaft jumbo, Hydraulic shaft mucker, Potash shaft sinking, Shaft lining, Sinking galloway INTRODUCTION The sinking and lining of shafts at mines to access mineral deposits has always been one of the great mining challenges for owners, engineers and contractors. Over the course of history in Canadian mining, the sinking of potash shafts through the notorious Blairmore formation of Saskatchewan has proved to be some of the most challenging shaft sinking projects on record. There is no doubt that today’s shaft sinking business demands the utmost in safety performance while delivering projects within schedule and budget. Given these requisites, Redpath and TMCC (executed under the joint venture company, Associated Mining Construction or AMC), were taxed with developing the shaft sinking system to deliver this program in the safest and cost effective manner, with due regard to schedule and quality. Traditionally the potash shafts sunk in Saskatchewan involved a significant level of manual labour, owing to the methodology of excavation by means of chipping the frozen shaft sections with hand held pneumatic machines, and manually placing tubbing segments or steel liners of the shaft lining system. Most certainly, the AMC team wanted to make a step change from those earlier sinking programs and develop systems for sinking this potash shaft that removed the high level of manual work, thus making this project inherently safer, while endeavoring to sink more efficiently. With that in mind, the team embarked on a design program to improve its overall shaft sinking systems without the requirement for excessive capital and methodology flexibility to adapt to potential changing conditions expected to be encountered during shaft sinking. This was especially important should the new approach be met with less than expected success, and retrofitting of the system was required. The concepts were developed to provide for a much improved work environment, while easing the manual labour burden on the workers with innovative equipment and approach to the work."

Jan 1, 2019

By Kenneth Blower

This paper gives a detailed coverage of the ore flow through the primary crusher, cobbing plant and concentrator, including equipment sizes, recoveries, reagent consumptions and product descriptions. Special features, such as rubber chutes, rubber-lined mills, pebble-mill grinding, steam-hooded filters and process control instrumentation, are also discussed.

Jan 1, 1968

Introduction A Hypothetical Scenario: Suppose that your company's research department has developed a new device which represents a significant innovation. You would like to begin selling it as soon as possible. The new device has not been publicly disclosed. You're not sure about what type of intellectual property protection you should be seeking, or when you should be seeking it. As discussed below, assuming that the costs are worth it, a patent application probably should be filed before any public disclosure is made. In general, if you do not file a patent application prior to a public disclosure, you will lose rights. Major Types of Intellectual Property In this paper, intellectual property protection is broadly discussed. Practical steps which can be taken to minimize the possibility of losing intellectual property rights (and maximizing the possibility of benefiting from your company's intellectual property) are outlined at the end of this paper. The issues discussed in this paper are somewhat complex, because a number of outcomes are possible, depending on the facts. It is strongly recommended that you seek legal advice in your jurisdiction in connection with any particular circumstances relating to intellectual property rights. "Intellectual property" refers to a number of different types of rights. The major types of intellectual property are: (i) patents; (ii) trademarks; and (iii) copyright. Trade secrets are also usually considered to be a type of intellectual property, and they are also discussed in this paper because of their importance. In general, each of these types of intellectual property protects different subject matter, although there can be some overlap. Intellectual property rights are generally territorial in nature. The scope of protection of a type of intellectual property in a country (e.g., patent protection) depends on whether the specific national requirements for protection have been met.

Feb 1, 2008

By R. Mulligan

"The Cordilleran tin belt extends from the Seward Peninsula in westernmost Alaska to Mexico. Throughout the Canadian section, tin occurrences are mainly confined to a belt along the northeastern fringe of the Western Cordilleran sub-region; the boundary of this sub-region with the Eastern Cordilleran sub-region is most simply defined as the practical eastern limit of granitic and metamorphic rocks. The stratified rocks underlying this restricted belt are mainly late Precambrian and early Paleozoic miogeosynclinal sedimentary rocks, which are more or less metamorphosed but otherwise are generally equivalent to the less severely deformed rocks underlying the Eastern Cordilleran sub-region. They contrast with Late Paleozoic - Mesozoic eugeosynclinal volcanic-sedimentary assemblages farther west, but the granitic intrusions throughout are mainly of Late Mesozoic age. Thus, narrowly defined, the tin belt largely coincides with a lead-zinc-silver metallogenic province, whereas copper deposits characterize the eugeosynclinal regions to the west. In addition to the tin occurrences, which include the Sullivan lead-zinc-silver mine, Canada's only significant producer, the belt contains all the beryllium, most of the tungsten and many Iithophile-type molybdenum occurrences. Several types of occurrences of each metal are represented. Lithium occurrences in the Canadian Cordillera are notably rare, and these few are insignificant."

Jan 1, 1971

By Pingchao Ke, Zhihong Liu

Fe(III)-As(V) precipitates were synthesized from the Fe(II)-As(V)-SO42--H2O system at 90°C in initial Fe(II)/As(V) molar ratios of 4.0 and 5.0, respectively. The synthesis were carried out by introducing oxygen gas into the system to oxidize Fe(II) ions into Fe (III) ions, and at the same time, adding aqueous sodium carbonate solution into the system to neutralize the acid released by the hydrolysis reactions, with the purpose of keeping the pH constant at 1.5±0.05. The precipitates obtained were characterized by XRD, chemical composition analysis, SEM, XPS, and Raman spectrum. The results indicated that the particles in the precipitates were in the morphology of irregular aggregation with their sizes in the range of about 1–4 µm. The precipitates consisted of scorodite, ferric arsenate and amorphous hydrated ferric oxide, of which amorphous hydrated ferric oxide formulated as Fe(OH)x(SO42-)y. The characteristic XPS peaks of Fe-AsO43- and Fe-O in the precipitates located at 711.8 and 713.3 eV, separately, and the existence of amorphous hydrated ferric oxide led to two series of shake off lines developed over the end of high binding energy of Fe2p XPS. The precipitates were stable in TCLP tests at pH 4.93 for 60 hours with the arsenic concentrations in the leaching solutions being 0.27 mg/L and 0.59 mg/L for the precipitates prepared in the initial Fe(II)/As(V) molar ratios of 4.0 and 5.0, respectively. The tests for the long-term stability of the precipitates were carried out by leaching them for 40 days at 25°C under various media in the pH range from 9.50 to 10.57, and the results showed that the precipitates synthesized in this study were much more stable than those by previous researchers.

Jan 1, 2017

By T. Schepp, T. Friedrich

"The natural stage of deep mines operation is a closure of unnecessary shafts. It is extremely important to ensure a proper shaft closure to avoid stability loss and the associated damage to surface facilities in the future. For the still active shafts, it can be done by a dedicated shaft closure design, but even then, depending on the shaft closure method, it may be necessary to perform regular shaft inspections. The paper presents a short overview of shaft closure methods and available tools and devices developed in the last time for such shaft inspections. INTRODUCTION The natural stage of deep mines operation, commonly occurring after depletion of the reserves of mined materials, is a closure of unnecessary shafts. All over the world, the number of liquidated shafts grows continuously and the problem of shafts disposal is especially critical for deep shafts. The typical depth of 600 m of currently liquidated shafts in Poland may already be seen as a challenging task. The greater is the challenge of shaft closure in Germany where the last active coal mines for shafts with a depth of up to 1,300 m have been recently closed. It is therefore extremely important to ensure a proper shaft closure to avoid stability loss and the associated damage to surface facilities in the future. For the still active shafts, it can be done by a dedicated shaft closure design, but even then, depending on the shaft closure method, it may be necessary to perform regular shaft inspections. In many cases, it is more important to inspect old, abandoned shafts, where the wall stability or even liner type are not fully known. SHAFT CLOSURE METHODS Abandoning a shaft is a complicated task, as shafts, being the link between the surface and an underground network of workings, disturb hydrogeological and gaseous conditions in the rock mass (Sztelak, 1991). Closure procedures at older mine sites have been carried out in accordance with earlier legislative requirements. For very old shafts (+100 years), it means in many cases only a sealing of the shaft entrances by means of timber or concrete slabs. In the 20th century, the shafts were also closed by means of filling with grainy materials, but even then the retrospective activities at abandoned mine sites were extremely limited and in most cases no further monitoring measures were performed. The possible consequence of an improper shaft closure and lack of monitoring is presented in Figure 1."

Jan 1, 2019

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