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By S. Zekovic

"The paper gives an overview of the economics condition and strategic business challanges of the mining&metallurgy sector and their possible impact on the future development of the Bor basin of copper in Serbian part of Danube Region. Economics and strategic challanges in the mining& metallurgy complex are emphasized by world economic and financial crisis. An analysis of strategic challanges is undertaken by application of a comprehensive development framework approach. Paper indicates that an economics and evaluation of possible impacts of constraints and challenges for the development of Bor basin shows that it must be included in corporative decision, local and regional plans.INTRODUCTIONRisks are characteristic of every strategic development and business decision-making, so their successful management should be a part of the development strategy of the corporation, especially longterm. Due to the growing uncertainty in the general socio-economic environment, “risk management”, risk insurance, risk control, risk culture, risk optimization are frequently talked about. Among the key risks at a corporate level are the financial risks and risks of the regulative framework, especially in the field of environment and land use. In both cases, it is a question of external risks, which the companies need to relativize and successfully manage. Some companies pay more attention to production risks and search for better solutions in that domain which is not enough (Ernst&Young, 2008). Strategic business risks appear mostly on the macro-economic level, from where they should be” transferred” onto the level of sector economics and action level in corporations. Risk management include transferring the risk to other parts, avoiding the risk, preventing hazard, reducing the negative effect or probability of the risk, accepting some or all of the consequences of a particular risk.The research has included perspective and the general market trend and market positioning of the production and copper processing complex in the world; the impact of the requirements and strategic goals of the EU Directive and Kyoto Protocol on the institutional and other adjustments important for business in this sector; the impact assessment of the regulations important for business in the mining and metals sector, and case study of economics and challenges for the development of mining and metallurgy sector in the Bor basin of copper in Serbian part of Danube region. The analysis has included the identification and assessment of the global challenges on the future development of the copper complex in the miningsmelting basin Bor. Presented results in the paper are part of the research project “Sustainable spatial development of the Danube area in Serbia"" (No. 036036), financed by Ministry of Education and science of Republic Serbia."

Jan 1, 2012

By C. A. Grandison

The economic evolution from an agrarian society to an industrial and service-oriented economy is apparent to most students of history. The long-term trend is almost taken for granted, it does not require explanation — it is accepted as the nature of man to improve his standard of living. However, there are fluctuations around this trend line which have provoked a great deal of thought. The ability to understand and control these fluctuations would yield many benefits, it would eliminate economic waste and public hardship, and would no doubt make a few fortunes. I f it is not possible to control or eliminate these fluctuations, then a reasonable forecast of the tinting, rate of change and magnitude of the fluctuations would be invaluable to industry and government.

Jan 1, 1976

By David Laing

Completion of a Feasibility Study represents a major milestone in the development path of a mine, and one which typically triggers a need for project financing. Obtaining funding for construction relies on a positive Feasibility Study and a host of other related activities. This paper looks at the financing process and work required to support it, during and after the Feasibility Study, and bring it to a successful closing. It will include comment on the significance of permits, environmental plans, construction contracts, offtake arrangements, hedging, insurance, and others requirements to support a financing plan.

May 1, 2010

By W. R. Cowan

The Caledon Outwash is a large deposit of glaciofluvial gravel and sand located 55 km north west of down town Toronto. For the most part it was laid down in a meltwater channel fronting the Paris Moraine about 14,000 years ago. Applying the braided bar model of Eynon and Walker (1974) the principal facies present are imbricated coarse gravels (bar corefacies); crudely stratified, imbricated bar top sandy gravels; and trough crossbedded side channel sands and gravelly sands. Of lesser importance are crossbedded bar front gravels, shallow braided stream facies gravels, and stoss side facies sands and pebbly sands (rare). Lithologically these deposits are characterized by FIGURE I. Geological relationships of Caledon Outwash. Industrial Minerals in Canada up to 95% Ordovician limestone and siltstone in the gravel fraction. A siltstone content of up to 34% requires that beneficiation be carried out for the production of better quality aggregates. Resources remaining are estimated to exceed 500 million tonnes in 3000 ha of the most suitable part of the deposit. Present production is about 4.5 million tonnes per year, shared by several producers.

Jan 1, 1984

By Balmer Neilly

In these days of arrested prosperity, when patience is tried and the future but dimly outlined, Canada's gold mining industry stands out as a beacon light shedding its rays of hope and confidence and demonstrating that there is still one product unaffected by Customs barriers and eagerly sought by all the people of the world. Some other forms of industry have hesitated and side-stepped. Some have cried for help, and in spite of public assistance, generously extended, they are still unable to demonstrate definitely their ability to resume the onward march. But gold mining has never hesitated. As an industry, it has bad an unique experience. When prices are high and conditions are generally referred to as prosperous, this industry is adversely affected. The cost of production goes up; profits are diminished; public sympathy is lacking; and, thrown upon its own resources, the industry tightens up its belt and throws its whole energy into an effort to improve operating conditions, and offset high prices by increased efficiency. When, in due course, depression follows inflation and prices ebb, the gold miner, through necessity, finds himself physically and mentally prepared to meet the situation.

Jan 1, 1932

By The Hollinger Mill Staff

MR. E. L. Longmore (l), in presenting this paper at the Annual General Meeting, suggested that it was neither desirable nor necessary to read any but the briefest portion of the paper. He wished to emphasize that the scale of the milling operations at the Hollinger not only provided several units in continuous operation to ensure that the test work was being carried on under normal conditions, but also provided a large and competent staff to supervise such an extensive experiment and to criticize intelligently the recorded results. He wished to acknowledge the enthusiastic co-operation of the group of assistants whose excellent work was responsible for the confidence with which the conclusions could be presented. The following data were given as a supplement to the published paper. Following conclusion of the test work described in the paper, the size of the balls fed to the mill was changed from 3-in. diameter to 2Yz-in. Within a short time, a gradual rise in the tonnage rate took place and, as no other condition had been changed, the increased tonnage was credited to the changed character of the ball load. At present, the average daily tonnage for the mill with low discharge is 1,507 tons, an increase of 77 tons over the 1,430 tons ground when feeding a 3-in. ball. A similar increase in tonnage should be credited to the high-discharge test, if the 2;Y2-in. ball had been used at that time. This would raise the 1,117 tons ground at that time to a new figure of 1,177 tons. From a study made to determine those factors influencing the rate of pulp flow through the low-discharge mill, it became evident that the ball screen used on the high-discharge mill must have been restricting the flow through the mill, although this was not recognized at the time. Accord-ingly, it was decided to repeat the high-discharge run. Additional length was added to the 21-in. ring grizzly originally used, and the length of the reverse spiral was increased. The end of the grizzly was left open so that, if necessary, excess pulp might flow out. A coarse mesh 3 ft. by 3 ft. flat screen was provided to catch stray balls.

Jan 1, 1937

Red Chris Project Project Status ? Tahltan, Iskut First Nations MOU ? Bankable Feasibility Study ? BC Environmental Assessment Certificate ? CEAA (Federal Environmental) ? EPCM contracts LOI?s ? US$110 million Project Debt Financing(credit approval pending) ? 1st5 years concentrate production sold ? 99,150 m of drilling in 371 holes First Nations Participation Agreement ?Advanced stage negotiations

May 1, 2006

By Lawrence Devon Smith

"The concept of risk is well established in the mining industry. It is acknowledged when estimates of reserves are expressed as proven or probable, when mining and metallurgical recoveries are applied to the ore, and when contingencies are added to costs. However, it is difficult to provide a quantitative assessment of risk. The significant sources of risk in a mineral project and how these are addressed in project evaluations are discussed. The discount rate is examined as a fundamental means of reflecting risk in discounted cash flow evaluations. Current industry practice is discussed, and a methodology for the analysis of risk levels is proposed that assesses the constituent components of the discount rate: real interest, mineral project risks, and country risk.IntroductionThis paper examines the components of the discounted cash flow discount rate and proposes a method of estimating project-specific discount rates. The motivation for this work comes from experience of project evaluations in which owners and purchasers had agreed on virtually every aspect of the evaluation except how much the project was worth. Agreement was reached on reserves, grad~, recovery, capital costs, operating costs, taxes, and, by combining these components, even on the fmal cash flow values. The only difference in opinion concerned the discount rate to be used in the calculation of the net present value. Depending on the life of the project, such differences of opinion can cause a variation of more than 50% in the value placed on a project! This is illustrated in Figure 1."

Jan 1, 2003

By H. Memarian

In the last few decades, many developing countries have tried to expand and improve upon higher education, which is acknowledged to be the leading factor for development. In this respect, develiping countries have significantly increased the number of tertiary institutions and their students. These rapid expansions, along with all the benefits, have drawbacks as well. An example is the status of mining engineering education in Iran. Presently, the number of active mining engineering departments in Iran (27) is more than the sum of similar departments in Canada, Australia, the United Kingdom, and South Africa (23 altogether). Also, the number of annual mining graduates in Iran (645) is more than the cumulative graduates of the United States, Canada, the United Kingdom, and Australia (613). The expansion of mining engineering education in Iran has coincided with the closing or merging of similar mining departments, as well as a decline in the number of interested students in the industrialized world. The present study shows that the need for development and the excessive number of high school graduates, resulting from high population growth in the early 1980s, are the two primary factors influencing the significant expansion of mining engineering education in Iran.

Jan 1, 2007

By S. Gößling-Reisemann

Most copper ores contain valuable co-products such as molybdenum, gold, silver, nickel, etc. Sulphuric acid and steam are valuable by-products, which are generated dur¬ing copper production. The environmental impacts from mining and refining therefore need to be shared between these by-products and co-products, an issue in Life Cycle As¬sessment (LCA) referred to as allocation. There are different, recognised methodologies for doing so: burdens can be allocated based on the market values of these commodities, they can be allocated by mass, volume, molar amount, functionality, or other physical, technical or economic factors. All of these methodologies have their respective merits and restrictions, and the choice is usually case specific. Nevertheless, the choice between alternative methodologies can have dramatic effects on the LCA results. Recycling in LCA has to be handled in a similar way, as it essentially constitutes a special case of co¬production. The existing standards (ISO 14040 ff.) allow different methods for imple¬menting recycling and allocation into metal LCAs (open loop, closed loop, value cor-rected substitution, etc.), which are still a subject of discussion in the scientific community. However, the methodology used can significantly influence the ecological profile of copper and copper products. We will present an overview of the different methodologies available for including recycling and allocation and give an analysis of how the meth¬odological choice affects the final LCA results. This work will be followed up by quantitative case studies.

Jan 1, 2007

By Greg Barnes

Agenda ? The Mining Stock Life Cycle ? Current Environment ? Valuation ? Golds ? Valuation ? Base Metals ? Case Study ? Quebrada Blanca Hypogene Commodity Investment Cycle ? Macro-Economic Indicators ? LME Inventories ? watch the trend; rising inventories ? bad for prices, declining inventories good for prices ? OECD Leading Indicators ? PMIs ? Purchasing Manager Indices ? Industrial Production ? more important for metals consumption than GDP ? Housing Starts ? US, Europe ? Auto Sales ? All things China ? metal imports/exports; SHFE inventories; SRB stockpiling ? Seasonality ? it does play a role ? What is Chris Dutton (TDSI Quantitative Analyst) saying?

May 1, 2010

By R. H. Fett

T HE APPROACH to maintenance must always be ?completely positive: there must be no question of putting off difficult problems until it is more convenient to tackle them. By this it is meant that a piece of machinery or equipment which, by experience, is known to be due for a check should not, merely because it appears to be operating satisfactorily, be left until it reaches a critical .condition and breaks down. The mentality of the Maintenance Manager must be completely orderly and methodical and he should, in fact, possess a ledger-book mind, having a debit and credit outlook. The debit side would be that applying to time out of service, cost in wages, material, personnel involved, etc., and the credit side that relating to continuous operational time of the locomotive and therefore to the ultimate benefit of the mine and the personnel who work there. The Maintenance Manager is not concerned with design problems, and although he and the personnel under his jurisdiction are not engaged in productive work, he and his staff do, nevertheless, add greatly to or detract from the overall efficiency of the organization. Provided the machinery placed in his care is good to start with, he must take the best steps he possibly can to keep it running. However, he may, on occasion, be forced to improvise and this is where the ingenuity of a clever man rises to the occasion.

Jan 1, 1956

?Four-wheel, skid-steer, rover developed for CSA ?U-chassis for payload accommodation ?Passive geometric suspension ?Max speed 13km/hr ?Remote workstation ?275kg payload capacity ?On-board processor, IMU, motor encoders ?5.2kW-h battery capacity

May 1, 2013

By W. G. Millar

Until a fire occurs, insurance and prevention work are often looked on as unavoidable necessities, but as insurance is back of all business credit, it is essential to know that in case of damage money will be available to cover the loss; while the interruption of production, often caused by a fire, brings home the realization that if prevention work avoids such an interruption, it is well worth while. Fire insurance is a legal contract guaranteeing the payment of large amounts to an owner, but it is possible there is no other important contract that receives so little consideration. Although previously carried on elsewhere, it is only of recent years that insurance engineering has been actively followed up in Canada, with inspections of an owner's property carried out for his benefit. Now inspections of this kind are made, advice on fire prevention and protection work ?is available, reports with recommendations with regard to the above are furnished periodically, and with this method applied the owner receives the broadest possible cover and security at the lowest cost. Rates are set by the underwriters by rating schedules which charge for defects in a building and allow credits for protection and other favourable features . These schedules are based on the past record of loss of mining properties as a class, so that a fire in another mining property indirectly affects you, but the amount paid is reduced in proportion as your property is improved. The writer feels, from personal experience, that there is no industry where fire prevention receives more attention than the mining industry, and it is a pleasure to advise that, due to this co-operation, some reduction in the basis rates for mining risks is now being made by the underwriters.

Jan 1, 1928

By J. G. Bennett

Coal consumption has increased globally by 57% over the last ten years. Underground mining typically provides coal of the highest calorific value and accounts for the greatest proportion of production. Despite a negative environmental image and indeed impact, this industry appears likely to thrive on the global scale for many years to come. Such mining consumes large amounts of electricity with implications for carbon dioxide emission at power plants and emits substantial quantities of the powerful greenhouse gas methane. In response to this significant carbon footprint, the European Union has funded research to examine the potential for a range of improvement technologies in a project entitled Low Carbon Mine Site Energy Initiatives (LOWCARB). Coal properties related to seams and mines, together with longwall characteristics, provide the basis for research into modelling optimally efficient methane drainage with a view to assisting mining as well as maximising electricity generation at surface and hence oxidation of the methane. Possible systems for the oxidation of very low concentration methane in ventilation air, which contributes the greatest greenhouse gas impact due to the volumes emitted, have been studied and modelled. Simulation and investigation of intelligent optimisation of electricity demand patterns provide the basis for reducing the demand peaks at mines and hence the cost and ultimately the carbon footprint of a mine, while specific investigations have been undertaken into ventilation efficiency at an unusually challenging mine and simulation of mine water pumping in order to develop an innovative method to monitor pumping systems efficiency. For post-mining use, the potential of disused shafts for compressed air energy storage to improve the operation of future electricity grids with high renewable energy penetration by reducing peak generation capacity requirements has been studied. While underground coal mining will always by definition be related to a significant carbon footprint, this paper provides an overview of a set of initiatives that can make a positive environmental impact while controlling costs across a huge global industry.

Aug 1, 2013

?Bank Lending to the Mining Sector affected by 2 broad factors since Mid 2008: 1. Economic Downturn (?the Real Economy?) for mining companies directly reflected in lower metal prices (current and forecasted). In the case of gold companies, minimal effect. 2. Financial Crisis (?the Credit Crunch?) as it has affected the lending activities of those banks active in the mining sector.

May 1, 2009

By H. W. Fleming

In 1955, the results of a regional, geological interpretation of the northern portion of New Brunswick were used as a basis for selecting, for intensive exploration, three areas in which structural and stratigraphic conditions were believed to be favourable. Airborne electromagnetic work, in one of these areas, provided the justification for acquiring the Murray group. Even though the initial results were discouraging, this geological interpretation, combined with the fortuitous discovery of cop• per-bearing float, was sufficient reason for carrying out further work using geochemical methods. This work finally resulted in the discovery of the Murray massive-sulphide deposit, after about eighteen months of coordinated exploration on the property. While this deposit is a typical New Brunswick-type base-metal occurrence, extensive leaching has produced a fossil gossan that rendered it an elusive target for exploration techniques of limited penetration Full credit for localizing the target area is given to the geochemical techniques, but geophysical surveys were needed to provide the necessary

Jan 1, 1961

By Robert B. Parsons

"This month, Tax Notes focuses on two features which can potentially ""dress up"" a new issue of common shares to make the shares more attractive to investors. Attaching warrants to a share issue is a relatively common practice, and recent years have seen an imaginative variety of different kinds of warrants, some of which can be subject to somewhat different tax treatment . A less common financing strategy which certainly deserves some consideration involves the possibility of utilizing ""Share Purchase Tax Credits "" in conjunction with a new share issue.IntroductionPrevious subjects covered in Tax Notes have dealt with flow-through shares and other tax angles which can make equity issues more appealing to potential investor s. Two other techniques which can add zest to a new stock issue involve the utilization of warrants and ""share purchase tax credits"" (or SPTCs). This article takes a brief look at the better known subject of warrants and the lesser known matter of SPTCs.Of course, this paper presents only a relatively general summary of the income tax implications of warrants and SPTCs, and is not intended to be a definitive commentary on all of the detailed and complex tax issues that might be relevant in the circumstances."

Jan 1, 1985

By C. M. Campbell

IN 1902, a famous Canadian geologist made the following statement : ?'From what we know row of the iron-ore fields of the Province, we may feel that Ontario is assured of a great future as an iron-ore producing country. Judging from the extent of the territory over which the newly discovered ranges have been found, Ontario should in the not far distant future take her place as one of the chief iron producers in the world". In 1905, an official of the Department of Mines said: "In ten years Canada will have b:ecome a great metallurgical country. You will see an iron industry in this Dominion larger than in any country in the world. Canada will yet furnish the world with its iron supply. It will be the same with iron as with wheat. A decade from now Canada will outstrip all other countries in wheat growing. The production of iron at a cheaper rate than it can be made elsewhere will cause Canada to take a similar position as far as iron is concerned". In 1924, a former President of the Institute, in arguing his claim for inconceivable mineral wealth in this country, stated as a "certainty" that iron-ore deposits on the scale of the ones in Minnesota would be found "again and again" in the Canadian Precambrian. In 1930, a Minister of Mines announced that "The country surrounding Churchill holds large deposits of valuable iron and coal", and he stated that, at that place, 'We will have an industry in iron that will compare with Pittsburgh". These statements are definite promises, just as definite and important as the statement "I promise to pay" on a note, and they are not fulfilled by casually stating, as is the habit, that someday we will work our low-grade iron ores. Nor are they fulfilled by stating, as is often done, "Oh, So-and-So did not mean that ' . Due to their importance and to the prominent positions held by the men who made these statements, they were widely circulated throughout Canada. They were taken at their face value, and on the strength of them and many more of the same kind in regard to our other resources we have planned and built, at huge expense, provinces, governments, civil services, railways, and other equipment. The reserves that were to justify these expenditures have not appeared. There has not been a ton of iron ore mined in Canada for many years, and important commercial reserves are unknown. We have built the mill, but adequate ore is lacking.

Jan 1, 1937

By R. D. Brown

Ever since British Columbia started the ball rolling in 1974 with the introduction of its now-defunct Mineral Royalties Act, all Canada's resource-based provinces have significantly altered their mining tax systems. The last resource-based province to abandon its pre -1974 mining tax structure is New Brunswick, which introduced a new mining tax regime in the summer of 1977 to take effect from April 1 1977. The new structure, which represents the outcome of considerable study and discussions with industry representatives, contains some intriguing concepts which make Nero Brunswick's new mining tax system unique among the Canadian provinces.

Jan 1, 1977