Search Documents

By K G. Harding, E L. Haggard, C M. Sheridan

Mining is a water intensive sector, contributing to declining water resource quality around the world. Improvements to current mine water management practices can help reduce the amount of water utilised by the mining sector and the impact on water resources. Creating a water account can help companies understand water use in their operations and identify areas where water reduction is possible. Water accounting methods include the Water Footprint Network method and the WaterMiner tool.The Water Footprint Network method is used to determine the amount of direct and indirect water used by an organisation either in a process or to manufacture a product. The total water footprint is divided into the blue, green and grey water footprints. Blue water is the amount of water abstracted from surface and ground water resources. Green water is the amount of rain water utilised. Grey water is the amount of freshwater required to assimilate the waste stream to the natural resource and still conform to ambient water quality standards.The WaterMiner tool is a program available via the internet, which can be used to model water use of mineral processing sites. The program reports the amount of raw, worked and treated water used by the process and recommends flows that can be added to reduce the amount of fresh water required by the process.To gain information on mine water management practices in South Africa, a water account for a platinum mine was developed using the Water Footprint Network method and WaterMiner tool. Based on the results, suggestions to reduce the amount of fresh water utilised are made.CITATION:Haggard, E L, Sheridan, C M and Harding, K G, 2013. Water footprint for a South African platinum mine, in Proceedings Water in Mining 2013 , pp 15-20 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

Jan 1, 2004

By N Weerasekara, M Bird, M Yahyaei, M M. Hilden, M S. Powell, J Franke, P Toor

The combination of new tools with a more rigorous approach to understanding the interaction of mill liners with overall mill performance and economics, forms the basis of an integrated approach to liner management. Based on accurate liner wear measurements, some (limited) physical mill inspections and surveys, accurate calibration of the mill load and analysis of process data, a whole new approach to liner selection, relining intervals and mill control is proposed. Collection and analysis of this information in operating mills illustrates the mill performance improvement which can be attained through this careful measurement and modelling approach.A more holistic approach to liner management is proposed, including a broadening of the current work to cover the potential benefits of improved relining technologies and predictive liner wear modelling. CITATION:Powell, M S, Hilden, M M, Weerasekara, N, Yahyaei, M, Toor, P, Franke, J and Bird, M, 2012. A more holistic view of mill liner management, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 95-104 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

By T X. Le, H T. Tran, K Zaw, T Manaka

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Truong Son fold-thrust belt (TSFTB) is a prominent tectonic component of mainland Indochina that occurs as a north-west–south-east-trending tectonic entity that extends from north-eastern Laos, straddles the Laos-Vietnam border area and is submerged under the sea basin in east central Vietnam. The TSFTB hosts numerous regional-scale gold and polymetallic base metal deposits, and the mineralisation occurs along the strike of the belt; however, the potential of many of these deposits are inadequately evaluated. The ore mineralisation is hosted by different rock assemblages, including highly metamorphosed Late Proterozoic metasedimentary rocks and Palaeozoic sedimentary and/or volcanic packages, which were intruded by several phases of magma and underwent a number of tectonic events. Several ore-forming styles – including porphyry, Carlin-type and sediment-hosted orogenic Au – were formed during at least two phases of regional thermotectonism that have been identified in the TSFTB. However, all of the major gold deposits/mineralisations are closely related to region-wide structural breaks and many of them are controlled by large-scale, high-strain zones. The fold-thrust structures in the TSFTB therefore play important roles for regional gold mineralisation and metallogeny.CITATION:Tran, H T, Zaw, K, Le, T X and Manaka, T, 2015. Structural controls on gold mineralisation in the south-eastern Truong Son fold-thrust belt and its significance in regional metallogeny, in Proceedings PACRIM 2015 Congress, pp 521–530 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By M Scoble, C Hughes, M Roberts

At 14 per cent, the representation of women working in the mining industry is the lowest among primary industry categories in Canada. Despite an increase in research and industry commitment to advance and retain women in the mining industry, the gender gap in mining organisations persists.This paper is based upon a recent Canadian survey of 163 highly qualified women (HQW) working in the mining sector. For the purpose of this research, HQW were defined as women with a BachelorÆs degree or higher. This research sought to identify career progression and retention patterns of women who in theory have the educational qualifications to advance into positions of leadership in mining operations. We considered why womenÆs advancement in mining organisations has stalled; examined the career development pathways of HQW; and investigated the interactions of mining workplace culture on HQWÆs career development and retention within the Canadian mining industry. Results?indicated two distinct career pathway trends for HQW. æThe specialistÆ; a career characterised by multiple professional scientific and technical positions, and æthe corporateÆ; a career characterised by professional administrative roles and roles in mid-level management. It was found that neither æcorporatesÆ nor æspecialistsÆ systematically progressed into senior management and executive roles. These findings suggest that HQWÆs careers in mining are stalled, despite a strong indication by respondents of interest in their professional career advancement. With regards to?workplace?culture, respondents indicated that blatant forms of gender discrim-ination have been reduced in mining workplaces; however, exclusion from informal networks, implicit bias and subtler forms of workplace discrimination persist. Consistent with previous mining sector research, improving work-life balance, work flexibility and mentorship were found as key drivers for HQW to advance and remain in the industry.CITATION:Hughes, C, Scoble, M and Roberts, M, 2012. Where are the women? Highly qualified women in the mining industry, in Proceedings International Mine Management 2012, pp 23-34 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By R J. Soriano, S Ciutina

The Masbate gold deposits are situated on the island of Masbate, 350 km south of Manila. A new plant was commissioned in April 2009. The grinding circuit consists of one semi-autogenous (SAG) mill Ø9.75 m × 4.27 m, two ball mills Ø5.6 m × 7.1 m and a pebble crushing circuit, which is usually called a SAG-ball mill-crusher configuration. The SAG mill was originally equipped with radial pulp lifters. The mill runs at fixed speed of 10.9 rev/min, which is approximately 80 per cent of critical speed (per cent CS). Due to the high speed of the mill the original radial design pulp lifters presented a high volume of recirculating load inside the chamber and consequently heavy wear on the outer circle (bottom pan).In order to address the high wear on the pulp lifters a number of avenues were considered in early 2011. The chosen solution was to change the geometry of pulp lifters from radial to curved design. The pre-existing drilling pattern on the discharge end of the mill was a major constraint. A number of designs were considered. The selection of the most suitable option was to be made based on 3D discrete element modelling (DEM) and smoothed particle hydrodynamic (SPH) simulations.The original radial design and two potential solutions for curved pulp lifters were simulated with 3D DEM and SPH software. The main three objectives were predicting the charge dynamics, the expected wear patterns and discharge efficiency. One of the solutions was chosen and implemented during 2012.Observations carried on after installation of the curved pulp lifters have confirmed, as expected, a reduction in wear intensity on the outer pulp lifters. In addition to this, at early stages of operation with curved pulp lifters, the mill operator noticed a reduction in energy consumed by the mill with no detrimental effect on mill performance.This paper is intended to further study the effect of curved pulp lifters on mill energy consumption.CITATION:Ciutina, S and Soriano, R J, 2014. Curved pulp lifters – can they save energy?, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 109–116 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

Mineragraphy is a coined term to signify the field of microscopic investigation of ore minerals. The term is not euphonius and is sometimes regarded as superfluous because the subject is no more than an enlargement of the scope of petrology. In the past the practical field of petrology has been largely limited by the instruments which were designed for the study of rocks and' the microscopical properties of the transparent minerals. The addition of mineragraphy has been brought about by the use of the reflecting microscope and a totally different technique.The use of the petrological microscope, as it has been employed in the training oi geologists and mining engineers for nearly half a century, has been justified many times, not only in its application to general geological problems, but also in the more restricted field of the exploration and examination of ore deposits. It provides information of the gangue minerals and rocks associated with an ore body which is of great value in some mining fields. In cases where ore deposits occur selectively in certain favourable types of rock, the recognition and delineation of these rock types is a useful guide in prospecting. The Boulder Belt at Kalgoorlie forms one of the most striking examples in Australia where important significance is attached to different rock types, and the petrological microscope is essential to their elucidation.

Jan 1, 1932

By B L. Sainsbury, M F. Lee, A Penney

For most practical rock engineering purposes, stress versus strength conditions around underground openings for which rock masses fail and their various modes of failure, are reasonably well-understood and predictable. Some rock masses and particular rock types fail slowly and relatively quietly. However, others can fail rapidly, violently and maybe with the ejection of significant broken rock. In some countries and in some mines, the latter style of violent fracturing and failure of the rock mass is referred to as ‘strain bursting’. It can be alarming and extremely hazardous to nearby miners and machines. For such situations, the design and installation of appropriate ground support, to provide a safe work place, can be challenging. At any particular mine site, it’s often generally understood which local rock masses (rock types) are prone to strain bursting. Competent and strong siliceous rocks and some massive sulphides are often the main offenders. While some neighbouring, equally-competent and strong rocks might also fail, they do so more quietly and without ejection. To understand this contrast, a better understanding of the fracturing process is required other than simple and standard strength versus stress considerations. Suites of standard intact rock properties from numerous Australian mines have been used to define and help understand different high-stress failure styles for component intact rock; especially those prone to violent fracturing (strain bursting). Simple considerations of micro-fracturing (defects in the intact material), plus the available energy at failure versus the energy consumed during fracturing, distinguishes between over-stressed and competent rock types that fracture violently and those that don’t. CITATION:Lee, M F, Penney, A and Sainsbury, B L, 2018. Proneness of competent over-stressed intact rock to violent fracturing, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 170–184 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By A R. Sale

This paper highlights two aspects of the mineral sands industry in Australia: the development of the industry from approximately 1870 through to 1980, and the author’s experience in the industry from 1966 to date.The first real heavy mineral (HM) mining in Australia started in 1870 with the mining of heavy mineral slicks on the beaches along the east coast of Australia. The real potential of Australian heavy minerals was however only realised in the 1920s with the first production of a heavy mineral concentrate that was shipped to Canada for processing. Post WW 11 and the Korean War, Australia was the largest producer of mineral sands products in the world as well as a significant developer of associated separation equipment and technology. The number of producing companies in the east coast peaked at 33 in 1957, was reduced to ten by 1965, and subsequently further reduced to five in 1980 as a result of potential mining areas being declared National Parks or Conservation Reserves. Today there is one company, Unimin Australia Pty Ltd (formally Consolidated Rutile Ltd) operating on the east coast. In contrast there were three companies on the west coast in 1965, four companies in 1980, and four companies today (albeit not the same companies).There have been considerable ups and downs for the industry in Australia, however world wide it was renowned in the past as being an industry that attracted numerous interesting and innovative characters that played a major role in developing it into the vibrant industry that it is today. This, given the current climate, is predicted to continue into the future.The author has been continuously involved in the industry for over 45 years from 1966, initially as an electrician at Consolidated Rutile Ltd culminating in the role of General Manager/President of Iluka Resources Limited USA, prior to his retirement in 2009. His exposure has been world wide and has covered all aspects of the industry but in the main focused on project development and operational areas. During this time there have been significant technological advances, yet to some extent the basic principles have not changed at all. Some of the most noteworthy advances include the development of the Wright Spiral in 1977, the development of the Reading High Intensity Wet Magnet (WHIMS), the rare earth magnets, the CRL floating thickener and the improvement of analytical techniques. From a safety, health and environmental perspective there has been significant advances that the industry has much to be proud of. These include wetland restoration both in Australia and in the US, the restoration of farmland in Virginia and Capel, and the re-establishment of native species, for example at Eneabba and Richards Bay to name but a few.

Oct 5, 2011

By K White, R Hardie, J Merritt, B Kirsch, R Lucas

Constructed stream diversions are a common element of mine sites across Australia. A review of constructed stream diversion performance in the Bowen Basin funded by the Australian Coal Association Research Program (ACARP) in 1999 found over 80 per cent of constructed stream diversions failed to meet regulator and operator expectations. Since that time, improvements have been made in the assessment, design, monitoring and management of constructed stream diversions. Fundamental to these improvements has been the development of a better understanding of the regional stream systems and efforts to replicate the natural stream processes in the function and operation of constructed stream diversions.This paper discusses the history of constructed stream diversions through the Bowen Basin in central Queensland recorded in the outcomes of a series of ACARP funded research projects. Further, the paper reports on the outcomes of a current ACARP funded project that has reviewed the success or otherwise of constructed stream diversions in the region. The assessment has compared the performance of diversions that have been designed to replicate and provide for ongoing stream geomorphic processes with those diversions that were designed and built prior to the development of these design improvements. Based on these investigations we have identified design and construction successes and issues requiring further research and management attention.CITATION:White, K, Lucas, R, Hardie, R, Merritt, J and Kirsch, B, 2013. Challenges and opportunities for constructed stream diversions in the Bowen Basin, Central Queensland, in Proceedings Water in Mining 2013 , pp 73-82 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

The OK orebody comprises a steep dipping narrow quartz reef averaging 0.4 m in width hosted in basalt and gabbro with porphyry bars cross-cutting through it. The following paper tracks the mining of this orebody, challenges encountered, measures undertaken to address these challenges and changes in mining conditions and methods as the mine matured in both depth and age. The initial mining method was narrow vein hand held shrink stoping accessed by shaft, that over the period of the mines life was superseded by gallery stoping, shrink stoping and ultimately mechanised narrow vein long hole sublevel open stoping. The reasoning behind the change in mining methods is detailed, including safety and cost benefits. The transition presented many challenges that were overcome, resulting in the successful development of a narrow vein long hole stoping method. The lessons learnt during the transition period and the practices and principles developed for successful mining of narrow vein orebodies using long-hole open stoping methods are summarised in this paper. The final section of the paper takes a retrospective view of how the knowledge gained through the mining of the OK orebody would be applied to a new mine containing an orebody of this type, with consideration given to the initial excavation design, equipment selection, mining sequence, geotechnical investigations and mining method used.

Jan 1, 1998

Ilmenite (FeTiO3) is the primary global source of titaniumdioxide which is commonly used as a whitening agent in papermanufacture and a pigment in paint manufacture. In WesternAustralia ilmenite is processed by the Becher process (Becher,1963, Becher et al, 1965) where ilmenite particles are feddirectly into the furnace with coal and heated to form acomposite of elemental iron and TiO2. The mechanism of thecarbothermic reduction of ilmenite has been extensively studied(Grey, Jones and Reid, 1973; Jones, 1973; Grey and Reid, 1974;El-Tawil, Morse and Francis, 1993) and is reasonably wellaccepted.

Jan 1, 1997

By R Mann, R Prasad, S Vink, V Nanjappa

The level of salinity that various aquatic organisms can tolerate without incurring any adverse effects is dependent on several environmental and evolutionary factors. These factors include the relative concentrations of different types of dissolved salts in the water that makes up their habitat, the regimes to which organisms are exposed to waters of differing salinity levels (including naturally derived variations), the degree to which an organismÆs life history stages have adapted to salinity, an organismÆs ability or behaviour to avoid adverse levels of salinity and an organismÆs capacity for osmoregulation.Release of saline water into rivers of the Fitzroy catchment has created concern about the impact on aquatic organisms. Not only is salinity itself a stressor on organisms but different ionic compositions will moderate the effects. Ecotoxicology experiments were conducted using artificial saline water based on mine water chemistry using sensitive macroinvertebrates collected from the catchment, as well as a range of laboratory organisms in accordance with the ANZECC and ARMCANZ (2000) guidelines. The 95 per cent ecosystem protection value calculated from species sensitivity distribution derived from the commercial tests was estimated to be ~2.0 mS/cm. For the protection of 99 per cent of the species the salinity has to be reduced by more than 50 per cent to 0.91 mS/cm. The electrical conductivity (EC) values, derived by commercial testing and species sensitivity distribution in this study suggests that salinity contaminant trigger values previously developed using a referential approach for protection of aquatic ecosystems from saline mine water releases in the Fitzroy may be conservative.CITATION:Vink, S, Mann, R, Nanjappa, V and Prasad, R, 2013. Determining the impacts of salinity on freshwater organisms, in Proceedings Water in Mining 2013 , pp 149-154 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

By C Gimber

Dust suppression is an important environmental control in most mining operations. The poorest quality water within a mine site is often used for dust suppression since it provides an effective means of reducing the volume of poor quality water. The ultimate fate of contaminants or salinity associated with water used in dust suppression is important to consider for optimising water management and assessing the environmental impact and life span and maintenance requirements of roads associated with dust suppression.The propensity for remobilisation of contaminants or salts depends on a range of factors such as the application rate, climate, road construction, water chemistry and soil geochemistry. This paper describes a typical study approach which could be used to assess the short- and long-term impacts of mine water application for dust suppression. The steps of the study are: reviewing the environmental setting, estimating water requirements for dust suppression, reviewing source water chemistry, developing a mass balance model and assessing the mobility and fate of contaminants with a geochemical model.This approach identifies which salt species are likely to form and whether they are prone to remobilisation. It is possible to quantitatively assess the risk of exporting contaminants or salt from roads and to refine the dust suppression strategy to minimise the environmental risk. The approach can be applied at mine sites to address regulator concerns, aid decision-making and improve the understanding of short- and long-term environmental risks.CITATION:Gimber, C, 2013. Assessing contaminant risk associated with the use of mine water for dust suppression, in Proceedings Water in Mining 2013 , pp 235-240 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

By K Afewu, R Dunne, W P. Staunton

The treatment of preg-robbing gold ores has always been a technical challenge in the gold industry. Early solutions included removal of preg-robbing carbonaceous material by flotation, the addition of kerosene to æblindÆ/passivate the surface of the preg-robbing component, and the most effective of all options, roasting the ore. Unfortunately gold ores have become more complex and roasting has environmental challenges, so other methods of treatment have had to be found. This paper will review methods of characterising preg-robbing gold ores, method of treatment and cite examples of actual application in the industry.CITATION:Dunne, R, Staunton, W P and Afewu, K, 2013. A historical review of the treatment of preg-robbing gold ores - what has worked and changed, in Proceedings World Gold 2013 , pp 99-110 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

Both here and in Australia, the unique commercial and tax features of joint venture are finding favour in forestry, fishing, technology and infrastructure projects. For New Zealand mining companies, joint ventures provide a means of access to foreign know how and investment funds, while retaining their corporate independence and their hard-earned tax losses.   This paper discusses some of the practical income tax and GST considerations where a joint venture structure is contemplated. The first part of the paper considers income tax, and in particular how joint ventures enable companies to access and carry forward tax losses. It explains why a joint venture may be advantageous relative to a jointly owned company.   The second part of the paper concerns GST and the focus is on two aspects: 1.   Joint ventures may be registered for GST. In some instances they have no choice and are required to do so. Where a joint venture is registered in respect of a taxable activity, the members are not permitted to register in respect of the same activity. This may be problem where the member has incurred its own expenses and the member wishes to register in its own right to claim back the GST on those expenses. This paper explores the issue and possible solutions. 2.   It is not uncommon to see joint ventures claiming GST on the costs of production, and the production being sold (and GST is being charged) by the members. In this paper we consider whether these arrangements have a tax risk, and what can be done to make them technically sound.

Jan 1, 2005

By M Haest

This study demonstrates the application of HyLogging™ technologies for mineralogical characterisation of different iron ore types throughout the Hamersley Province (Western Australia), including a channel iron deposit (Murchison Metals Ltd) and bedded iron deposits in the Brockman and Marra Mamba Iron Formations (BHP Billiton Ltd).Drill core from these deposits was analysed using CSIRO’s hyperspectral drill core logging systems (HyLogging systems), which are commercially available at the AMDEL and AMMTEC laboratories in Perth (Western Australia), through a leasing agreement. These HyLogging systems provide high resolution photographs at 0.1 mm pixel resolution as well as visible and infrared spectroscopic refl ectance data at 1 cm spatial resolution. The minerals identified include haematite, goethite and its subtypes (ie vitreous and ochreous goethite), AlOH-clays (kaolinite, Al-smectite and white mica), carbonates, gibbsite, chlorite, amphibole and hydrated silica as well as water content. The abundance and composition of these minerals was established from the spectral data and was validated against XRF analyses.The full potential of HyLogging systems in the iron ore industry is only starting to be unveiled, but some major benefits have already been demonstrated:• HyLogging systems can delineate different ore zones by mapping the vitreous and ochreous goethites. This has a potentially large impact in mine planning and operations, as hard, vitreous goethite and soft, powdery, ochreous goethite have different processing characteristics that can affect plant throughput if not carefully managed.• HyLogging mineralogy can also be used to support stratigraphic interpretations of the host, for example in subdividing the Dales Gorge 1 - 4 submembers of the Brockman Iron Formation.• HyLogging can have a potentially signifi cant impact on waste rock characterisation, as many of the waste materials can be identifi ed and quantifi ed with hyperspectral data (eg clay-type,• hydration state).• HyLogging can provide accurate three-dimensional (3D) mineralogy to iron ore companies that will empower them to improve future exploration and resource planning.• Application of high resolution photography to further improve ore deposit domaining is also to be considered.

Jul 11, 2011

Major Francis Hamilton Buchanan coined the term `laterite' (Latin; brick-rock) in 1807 for the red earths used for building blocks in southern India. Although these earths were actually weathered basalts, the term is now applied to weathering profiles developed upon a wide range of bedrocks. The Ni-laterites are a special class within the broad laterite family.

Jan 1, 1996

By C M. Zammit, N Cook, F Reith, C L. Ciobanu, J Brugger

The role of biological agents in the gold mining industry is currently limited to the use of microorganisms in bioleaching and bioremediation. However, there is a variety of possibilities in which biotechnology could aid the mining industry in the future. In this article we discuss the potential for the development of these novel biotechnologies and the role they can play in the exploration for new gold deposits, the processing of ores and the post-mining remediation of sites. The development of these biotechnologies has been enabled by rapid advances in our molecular-level understanding of the role microorganisms play in the solubilisation, dispersion and precipitation of gold. An understanding of the distribution of microbial species in soils overlying mineralisation can be utilised to develop bioindicator systems that assist with gold exploration. An in-depth knowledge of how microorganisms interact with gold complexes is being used to develop in-field biosensors, supporting exploration. Processing technologies may be improved based on advances in our understanding of the interactions between microorganisms, ore minerals, cyanide and gold. For instance, cyanide-producing microorganisms are being investigated for use in in situ leaching of gold. In turn, the use of cyanide-utilising microorganisms for the degradation of cyanide is being explored. Combined, the implementation of these biotechnologies in the gold mining sector may revolutionise the industry, leading to greener, more efficient exploration for and extraction of gold.CITATION:Zammit, C M, Cook, N, Ciobanu, C L, Brugger, J and Reith, F, 2013. Possible future applications of biotechnologies in the gold industry - a prospective approach, in Proceedings World Gold 2013 , pp 233-244 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By G J. A Dewar

The Australian Corporations Law generally requires Independent Expert Reports to be presented in support of capital raising or in defence of mergers and takeovers. The introduction of the VALMIN Code in 1995 (and its recent revision issued as the VALMIN Code, 1998) made Assessment and Valuation Reports in these circumstances much more comprehensible than before because of its key requirements for transparency and materiality. By forcing the Independent Valuer to provide an explanation of the reasoning behind the estimation of a particular resource asset, VALMIN allows the reader to clearly see any error or illogicality in the valuation methodology used and to seriously question or even reject the resulting value. Even though many elements of resource asset valuation practice are undeniably subjective, there must be some basis of objective rationality to it. Independent resource asset Valuers are the essential link between mineral explorers/miners on the one hand and brokers/analysts/fund managers/investors on the other. The minerals and financial industries both expect them to not use inappropriate or invalid valuation methods and illogical steps within these methods. This paper examines some of the less sensible ways in which some of the main techniques that Valuers commonly use to assess the fair market value of mineral properties have been applied in recent instances. The authors hope to discourage the adoption or perpetration of the æWhat-number-did-you-have-in-mind?' approach. It is MINVALÆs view that as many methods as possible should be used in any resource asset valuation. If any of the resulting estimates are in approximate agreement (particularly if they were derived using the less subjective of the available methods), ie if they cluster, they are probably more persuasive as being the Preferred Value of the asset than outlier values within the Valuation Range.

Jan 1, 1999