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By Craig Roberts

"While various methods are available to estimate a mining project's value, value is only established through a transaction. Comparable methods allow the value estimated for a mining project to be benchmarked against mining project values established in the market. Comparable methods thus are a key tool for ensuring value estimates are congruent with what the market would actually pay. For example, if the value estimated for a mining project using discounted cash flow analysis differs significantly from the value implied using comparable market methods, the valuator may be using metal price or discount rate assumptions that differ significantly from those the market is currently willing to pay for.The paper provides an overview of market comparable valuation approaches, and discusses some of the difficulties and limitations that arise in using these approaches. The types of market values that are typically utilised are discussed, including asset sale prices, share prices (market capitalisations), and values established in corporate mergers and acquisitions. Topics discussed include methods used in estimating a mining project's value based on the market value of the company that holds the asset, and limitations that arise because of unique features of mining projects and of companies that hold them.It is concluded that market comparable and fundamental (e.g. NPV) approaches to project valuation should not be viewed as alternative approaches to estimating project value, but rather can and should be integrated to derive a single value estimate based on both market andfandamental data. A method for integrating these approaches is discussed, and illustrated by example."

Jan 1, 2003

By Trevor R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all Federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2003

By M. P. Davies

"Risk, the product of probability and consequence, is an integral part of mining. Whether evaluating exploration priorities, determining property acquisition potential, reviewing the components of an operating mine or assessing environmental/closure issues, the concept of minimizing risk is central to economic and technically appropriate decision making.Until recently, risk evaluations have tended toward a strongly mathematical basis. With this previous trend, it was essential to establish precise probability density functions to all assessed components or issues where often little information was available. The combined effect of the seemingly complex analyses with corresponding insufficient data often resulted in either a poorly executed risk evaluation or no evaluation whatsoever; either result not acceptable for optimal decision making. This paper presents a simple and practical procedure to carry out risk assessments for the mining industry. Although simplistic in nature, the power and usefulness of the technique is immense. The basis for the procedure involves combining deterministic assessments (often “gut feel”) with appropriate probabilistic descriptors. The resulting procedure, termed Potential Problem Analyses, or PPA, can be used anywhere an evaluation of risk will assist in optimizing technical and/or economic decisions. As will be shown, a key element of the PPA procedure is the multi-disciplinary input the framework allows which makes the method ideal for a teamwork approach to decision making."

Jan 1, 1997

By Rene Cane, V. I. Lakshmanan, John Starkey, Richard May

"The Agrium Kapuskasing Phosphate Operation mines and processes up to 6,000 t/d of phosphate ore. Run-of-mine crushing to minus 6 inches is done in a toothed roll-crusher, while grinding is done in a SAG/ball mill circuit with no coarse recycle classification of the SAG mill discharge. The primary grinding mill is an 18 ft. diameter x 9 ft. EGL, 1500 HP variable speed SAG mill and the secondary mill is a 13 ft. diameter x 21 ft. long, 2000 HP fixed speed, ball mill. When hard ore was treated, the SAG mill restricted the tonnage that could be ground. When soft ore was treated, the ball mill and spiral classifier overloaded and restricted throughput.Recommendations from a plant benchmark and an ore hardness testing program, on how to better utilize installed energy in the Agrium SAG mill when treating soft ore, and how to obtain best results when treating hard ore, were checked in a pilot plant investigation in the 3 ft. diameter Starkey-PRO Pilot SAG Mill. Correlation between the ore hardness testing and the results from the 3’ Pilot SAG mill was very good. In addition, the work indicated the results that could be expected for the different ore types when using either smaller SAG discharge grates and/or a vibrating screen with 10 mesh square opening cloth.INTRODUCTIONAgrium Kapuskasing Phosphate Operation consists of a 6800 t/d open pit mine and a concentrator, near the Town of Kapuskasing in Northern Ontario. The two major ore types are sandy ore and cemented ore. Sandy ore is fine, soft and easy to grind in the SAG mill while cemented ore is harder, more blocky and difficult to grind in the SAG mill. The ratio of sandy to cemented ore in the deposit is thought to be in the order of 80:20 but can range as high as 5050, so it was important for the grinding circuit to have the ability to treat sandy ore alone."

Jan 1, 2002

By J. Ouellet

"ABSTRACTA brief background on in-situ testing of mine backfill, as well as pressuremeter testing is briefly described, and results from an in-situ testing on paste backfill are presented. A series of self-boring pressuremeter tests were done from the top of a backfilled stope in an underground mine. The tests were conducted along a 20-metre vertical line in the centre of the stope. Some 14 tests were performed along this depth. The instrument used was a Camkometer built by Cam Insitu, Cambridge. The instrument proved to be efficient and reliable for underground testing in a cemented paste backfill. The testing program was conducted within the planned schedule with a high success rate. The test done in this study permitted the measurement of paste backfill strength, stiffness and in-situ horizontal stress within the backfill. RésuméUn bref historique des essais in situ dans le remblai minier est présenté. L’essai pressiométrique est décrit succinctement et des résultats d’une campagne d’essai dans un remblai en pâte sont présentés. Un programme d’essais au pressiomètre auto-foreur a été réalisé à partir du sommet d’un chantier remblayé sous terre. Les essais ont été réalisés le long d’un ligne vertical d’environ 20 mètres pour un total de 14 mesures. Le Camkometer de la firme Cam Insitu de Cambridge a été utilisé. Cet instrument s’est avéré efficace et fiable pour tester le remblai en pâte cimenté sous terre. Le programme d’essai s’est déroulé à l’intérieur de l’échéancier prévu avec un taux de réussite élevé. Ces essais ont permis de déterminer la résistance, la rigidité de ce remblai ainsi que les pressions in-situ prévalant dans le remblai."

Jan 1, 2000

By J. Visman

"Cyclone separators of different design are being used in increasing numbers in the coal industry of today. One recent addition, the Compound Water Cyclone, is finding application in the North American and Australian coal fields for the beneficiation of coking coals and for the reduction of sulphur and ash in steam coals. In this paper, the combination of specific-gravity separation, thickening, classification and water recovery are discussed. All of these operations can now be accomplished by means of cyclones that are effectively combined in circuits of compact design. In the layout of such integrated plants, three main sections are distinguished, namely: a Main Section for cleaning the plus-28-mesh fractions; an Effluent-Beneficiation Section for treating the minus-28-mesh fractions; and a Water-Recovery Section, where the wash water is reconditioned, and the fine solids are removed in a semi-solid state as slugs or pellets. Depending on the nature of the coal and the specifications of the purchaser, water-cyclone circuits can be flexibly combined with HM Cyclones and froth flotation, as well as with ancillary equipment for dewatering and drying."

Jan 1, 1968

By F. J. McMulkin

This paper, the 1965 Airey Memorial Lecture, reviews the world-wide technical advances in iron and steelmaking, and offers an appraisal of the new techniques which will be applied in the future. After a review of blast furnace operations, the continuous steelmaking process is described, and the resulting techniques of degassing and continuous casting are discussed at length. Pressure pouring, hot rolling, cold rolling and coating practices are also outlined, and considerable space is devoted to the direct reduction process. Finally, the application of the computer to steelmaking operations is discussed in some detail.

Jan 1, 1966

By Robert D. McKellar, Luke Frawley, Richard Okrasa

"The resource industries in Canada are facing increasing global competition and stringent environmental regulations. This has made it essential for companies to lower operating costs wherever possible. Electrical energy rep-resents one variable cost that may be better managed and utilized, providing the user with lower operating costs, improved productivity and better yields.The utility industry is also facing changes in the way it must do business. Utilities in North America are facing the prospect of deregulation that will eliminate the monopoly they have traditionally held. This will force them to strive for lower operating costs, to maintain a competitive position and to improve customer ser-vice so as to maintain their customer base.Ontario Hydro has been working with industry for several years. Many opportunities for cost savings have been identified involving energy efficiency, process improvements and the use of new electro technologies. One useful service that the utility can offer industry is to increase the awareness of potential opportunities suited to their operations. This paper will provide an overview of some of the projects that have been implemented and those that are presently being evaluated. An electronic data-base of electro technology applications that is under development will also be described."

Jan 1, 1996

By Richard A. McIvor

"All mine shaft conveyances in Canada and most of the United States that are supported by a single hoist rope or attachment point and used for transporting persons are required by regulation to be equipped with safety catches and mechanisms. These safety mechanisms, commonly called safety dogs, are designed to stop and hold a free falling conveyance, with a full personnel load, in the event of a hoist rope or attachment component failure. The conveyance’s safety mechanism must be tested under dynamic conditions before it is used to transport personnel. This paper will discuss free-fall testing and it’s results on conveyance free-fall tests performed in the test tower at INCO Limited, Sudbury, Ontario.Topics covered will be free-fall tests on various wood types such as B.C. fir, Karri wood and Trusjoist MacMillan Limited Parallamwood (PSL), comparison of deceleration rates versus free-fall velocity and the influence of safety dog tooth design on deceleration rates."

Jan 1, 1996

By Celine Y. Zhang, Chloe J. Feng, Charles Q. Jia, Donald W. Kirk

Oil sands petroleum coke (OSPC) is a by-product of coking - a high-temperature process that converts the mined bitumen to the synthetic crude oil (SCO). For every barrel of the SCO produced, about 20 kg of OSPC are generated. Over 70 million metric tons of OSPC have been produced and stockpiled as a result of the development of oil sands industry in the past few decades. Unlike conventional petroleum coke, OSPC has uniquely high impurity contents, particularly sulphur (~ 7 wt%) and metals (e.g. vanadium at ~0.15 wt%), which has hindered its large-scale applications as a solid fuel. Vanadium is a valuable metal that is widely used as an alloy for strengthening steels. The stockpiled OSPC contains about 100,000 tons of vanadium, while the world’s production in 2013 was only 75,600 tons. At the current price of $25US/kg, the OSPC-bound vanadium represents a total value of $2.5 billion US dollars. In this work, we investigate the technical feasibility of extracting vanadium from OSPC. The work focuses on the characterization of vanadium in OSPC and the conditions for effective extraction of vanadium from the OSPC.

Jan 1, 2015

By J M. Anderson

The cable belt conveyor installation at Craigmont Mines Limited, Merritt, B.C., has the greatest one-stage vertical fall of any conveyor installed overland in Canada. Since the late summer of 1961, this conveyor has carried more than 5,000,000 tons of copper ore from open pit to concentrator site. When the conveyor is loaded, the drive motor acts as an induction generator, delivering power to an external circuit. This paper covers the selection, the operation, the performance statistics, and the installation and operating costs of this conveyor system. Introduction T HE Craigmont mine is located in the south-western interior region of the Province of British Columbia, approximately 240 miles northeast of Vancouver. A moderate climate, good roads, service by the Canadian Pacific Railroad, power from the British Columbia Hydro Authority, gas from the nearby main line of the Inland Natural Gas Company and close proximity to the village of Merritt provide a favourable location for this mining operation. The ore occurrences at Craigmont have a vertical extent of 1,500 feet,

Jan 1, 1965

By M. G. Lipsett

One challenge in applying information technologies in Mining is building a business case. In Mine Maintenance, there is a complex flow of information that contributes to making informed business decisions. By understanding those information relationships and the cost of wrong decisions, analysts can estimate the value of information flow. Developers can then ensure that systems deliver key information in an accurate and timely way. In this paper, general maintenance decision-making is discussed, with examples of how model-based analysis can improve the information delivered to decision makers.

May 1, 2001

By R. D. Brown

The first step in achieving a rationalization of Canada's crazy patch-work quilt of mining taxes and policies was achieved with the release last November of a major federal-provincial report on the taxation of the Canadian mining industry. The Report, prepared by a group of federal and provincial civil servants, sets out a concise and informative discussion of the major taxation and incentive issues facing the mining industry, and puts forward major recommendations for more rational and moderate taxation policies. It will be considered by federal and provincial Finance and Resource Ministers for possible action by the respective governments. The Report was prepared in response to a directive from the federal and provincial First Ministers in February 1978 to review the federal and provincial taxation of the resource areas. Although the Report is more successful in identifying problems rather than concrete solutions, and reflects some continuing differences of opinion between the governments involved, it does represent an important first step in a comprehensive review of our resource tax policies. This article summarizes the Report, which is some sixty pages in length. Although a detailed discussion of it is beyond the scope of this article, the report itself is recommended reading for those concerned about the current state of the Canadian mining industry.

Jan 1, 1979

By T. Koulomzine, R P. Jaeggin

The claims now held by Mount Wright Iron Mines Co. Limited were acquired by staking in 1956, 1957 and 1958, i.e., some time after the major deposits of the Quebec Cartier Mining and Normanvi!le Mining Co. (formerly Quebec Cobalt & Exploration Ltd.) were already discovered and partly outlined. The choice of the location of the Mount Wright hold-ings was governed simply by the -availability of ground still open to staking and by its proximity to properties held by major iron companies. Mount Wright Iron Mines had no previous knowledge of the geology and no aeromagnetic results were available to it to guide the choice of areas to be staked. In order to explore the newly ac-quired claims it was decided to make a grid of widely spaced magnetic profiles on the ground rather than use aeromagnetics. This afforded the possibility of making some geological observations simultaneously with the geophysical measurements.

Jan 1, 1961

By D. C. Fuller

"CoaLiquid, Inc. (CLI) has been in the coal-oil-mixture (COM) business for over five years. The initial pilot processing facility was replaced by a 2000 barrel per day commercial production facility in August 1979. For over two years CLI has been expanding its efforts and conducting large-scale production and combustion demonstrations successfully in many locations across the United States. To facilitate the marketing effort, CLI has recently constructed a special trailer containing all equipment needed for a temporary COM retrofit.CoaLiquid has conducted commercial-scale combustion demonstrations in the following types of combustion units: kilns, calciners, industrial boilers, blast furnaces and driers.IntroductionCoaLiquid, Inc. officially dedicated its plant on August 31, 1979, at a ceremony presided over by the then Governor of Kentucky, The Honorable Julian Carroll. The dedication marked the culmination of over three years of research and development work and marked the beginning of a new era of coal-oil-mixtures as a commercial commodity in the marketplace. As the first such plant in the United States, it set the tone for construction to follow.CLI was originally owned and managed by a group of entrepreneurs from Kentucky who had developed the process and constructed the plant on purely private investment and conventional financing. Beginning in late 1976, with a pilot-scale operation, also located in Shelbyville, Kentucky (near Louisville), CLI began producing a stable mixture of 50070 coal, 30% to 40% oil and 10% to 20% water by weight. The technology employed was developed by Eric C. Cottell of Long Island, New York and is covered by U.S. Letters Patent No. 3,941,552. Since the pilot plant operation, CoaLiquid has made many refinements to its process and in fact has added new technology to its portfolio of patents and patents pending. Further refinements to the product now produce a stable mixture of 50% coal, 40% No.6 fuel oil and 10% water by weight."

Jan 1, 1985

By K. Maruyama, T. Nagasaka, R. d. Chairaksa-Fujimoto, T. Miki

Electric arc furnace dust or EAF dust is considered as a hazardous waste but contains a significant amount of economically attractive non-ferrous metals especially zinc as zinc ferrite (ZnFe2O4) and zincite (ZnO). The hydrometallurgical process is one alternative choice because it has the advantage of low energy consumption. The leaching of ZnO from the dust is very easy. However, the complex major zinc compound in EAF dust is ZnFe2O4, which is very stable and insoluble in alkaline or acidic media under delicate conditions, and causes the low zinc recovery yield by hydrometallurgical process. Moreover, halogens and heavy metals in the dust are also problematic. In order to develop a new effective EAF dust treatment process, the authors have proposed "CaO addition process" as pre-dust treatment to transform all of ZnFe2O4 in the EAF dust to ZnO and Ca2Fe2O5. In this study, the selective zinc leaching from the CaO treated EAF dust with NaOH and NH4Cl solutions was carried out. The effect of temperature, reaction time and solute concentration were systematically investigated. All of zinc in CaO treated EAF dust was successfully leached into both solutions.

Jan 1, 2014

By L. Ferland, D. LaRonde, J. C. Caron

"The free-world production of columbium ore concentrates has doubled in the last five years. St. Lawrence Columbium and Metals. Corporation has contributed largely to this expansion, its production rate increasing from 720 tons of concentrates per year in 1961 to 2 200 tons in 1965.To follow the normal market development, the Company initiated an engineering study aimed at establishing the most economical mining methods, thus permitting it to increase its milling rate from 1,000 tpd in 1964 to 2,000 tpd in 1967 and possibly to 3,000 tpd in 1968. The results of this study pointed out the advantages to be gained in converting from an open pit to an under-ground operation. This paper describes how the mining engineering department has successfully developed ""stopes"" from the walls of its No. 2 open pit, in order to assure continuity of its operation during the interval required to develop its underground mine."

Jan 1, 1967

By H. Lazreg

This paper presents an evaluation of surface resistivity techniques as a tool for delineating salt-water intrusion in Shippegan, N.B. The study consisted of resistivity profiling, resistivity soundings and a limited number of induced polarization soundings in selected areas in the Province of New Brunwick. The results from resistivity profiling indicate that when seawater intrusion occurs in a sandstone formation the resistivity contrast is sufficiently large to allow a precise delineation of the intrusion. A formula is then derived to convert resistivity values to chloride concentration in the "cone of intrusion". The results from resistivity soundings showed that shaly formations may have resistivities as low as seawater-contaminated sandstone. An indeterminacy has resulted from this resistivity overlap. A limited number of IP soundings were performed in an effort to resolve it. The results showed that IP can be of appreciable help in resistivity interpretation.

Jan 1, 1972

By B. S. Prosser, K. G. Wallace, A. Akansobe

"This paper describes a ventilation project at the Wassa gold mine in Ghana. Golden Star (Wassa) (GSWL), a subsidiary of Golden Star Resources, owns and operates the mine. Golden Star holds a 90% interest in GSWL, while the Ghanaian Government holds the remaining 10% ownership, earning a 5% royalty on the gross revenue of GSWL’s gold production. Construction of the underground mine began in mid-2015 and pre-commercial production started in June 2016. Commercial production from the underground mine was achieved in January 2017. This paper describes the ventilation studies performed to support the initial development and production at the mine. The initial ventilation design included four, parallel surface exhaust fans. Future designs will include booster fans, new primary fans, and additional connections to surface. The paper describes the long-term ventilation planning goals and expectations as the mine achieves a production of 4,000 tpd with truck haulage to surface.INTRODUCTIONThe Wassa Gold Mine is located in the southern portion of the Ashanti Greenstone Gold Belt in Ghana, northwest of Tarkwa as shown in Figure 1. The mine has been in production as an open pit since 1998, with some minor disruptions, but the surface minable reserves have become exhausted and the mine started a transition to an underground operation in 2015. The underground mine was initially developed with twin decline accesses extending from the base of the open pit to the mining areas. The mining method selected was sub-level open stoping with cemented rock backfill. The original production level for the mine was 2,500 tpd with ore and waste transported by trucks hauling in the ramps to surface. In 2017 the production goal was set to increase to approximately 4,000 tpd. This resulted in an increase in the truck haulage fleet in addition to a significant increase in ventilation requirements. This paper describes the ventilation upgrades at the mine as it transitioned from a surface to an underground operation and the adjustments the ventilation system needed to make in order to accommodate a significant increase in production"

Jan 1, 2019

By J. McCreedy

This paper reviews new methods of exploration for metals and new techniques of mining the deposits and extracting the metals from their ores. Examples of mining innovations are taken from Inco's Thompson Operation. The importance of presenting a favorable image of the industry to college students and young people deciding on a career is stressed.

Jan 1, 1971