Search Documents

By Harry Jomini

Introduction The Wakefield plant of the Aluminum Company of Canada, Limited - a member of the Aluminum, Limited, group of companies - produces magnesia, magnesia fertilizer ingredient, and hydrated lime, from brucitic limestone. Wakefield is on the Gatineau river in Wakefield township, Quebec, some 22 miles north of Ottawa. The plant is near the western bank of the river adjacent to the Ottawa-Maniwaki highway and branch line of the Canadian Pacific railway. The plant is unique in the sense that it is the only place in Canada where brucite is processed. It is also distinguished for its outstanding safety record, as not a single lost-time accident occurred during either 1948 or 1949. The plant is amply provided with safety and comfort provisions in keeping with the standard practice in all of the twelve plants operated in Canada by Alcan and its associated companies. History Following the identification of brucite in the Rutherglen and Bryson districts in Ontario, occurrences of the mineral were discovered in the Wakefield area, Quebec, in 1939. After exploratory work on these deposits and investigation by the Bureau of Mines, Ottawa, on a method of extracting the brucite from the ore, a plant for treating the ore from the Maxwell property was built in 1941 by the Aluminum Company of Canada and commenced operations in early 1942. The process used is more or less in accordance with the method worked out by Mr. M. F. Goudge of the Bureau of Mines.

Jan 1, 1950

By L. Kong, V. G. Papangelakis, L. Li

"The Eh-pH diagram of lithium-titanium-water system at 25°C, 100 °C and 200 °C was constructed. It shows that there exist thermodynamic stability areas of Li2TiO3. This indicates a thermodynamic possibility for the formation of Li2TiO3 in aqueous solution. A hydrothermal process has been applied for the preparation of Li2TiO3 using TiCl4 and LiOH•H2O as raw materials. The prepared samples were examined with X-ray diffraction, scanning electron microscopy and thermo-gravimetric analysis and differential scanning calorimetry. The results show that temperature and washing condition have significant effects on the phase composition of the product. Phase-pure Li2TiO3 powders were obtained at 200°C with Li:Ti molar ratio of 2.0.INTRODUCTIONLithium-containing ceramics enriched in 6Li, such as Li2O, LiAlO2, Li4SiO4, Li2ZrO3 and Li2TiO3, are considered as tritium breeding materials (Saito et al., 1998; Roux et al., 1998; Johnson et al., 1998; Hoshino et al., 2002). In view of its admirable properties: low-activation, good thermal stability and thermal conductivity, excellent tritium release performance and reasonable lithium atom density (Kopasz et al., 1994; Roux et al., 1996; Saito et al., 1998; Wu et al., 2008), Li2TiO3 is recognized as one of the most promising candidates of tritium breeding materials. Meanwhile, Li2TiO3, as the precursor of H2TiO3-type lithium absorbent, receives more attention as the development of extracting lithium from salt lakes (Zhong, 2004; Zhang, 2010).Several synthetic techniques have been applied to prepare Li2TiO3 powders, such as solid-state methods (Lulewicz and Roux, 2002; Ramaraghavulu et al., 2011; Mandal et al., 2012), sol-gel processes (Deptula et al., 2002; Lee, 2008) and solution combustion routes (Cruz et al., 2006; Jung et al., 2006; Sinha et al., 2010). A solid-state method may produce a series of problems, including impurity contamination and difficulty in morphology control of the obtained powders, although the process involved is simple. The solgel process is prolonged and usually demands for multi-step reactions, while solution combustion route requires plenty of energy and easily causes product contamination by the fuel used. Owing to its environmentally benign and highly suitable characteristics in fabricating materials, hydrothermal technology has been widely used and became a powerful tool in the field of material synthesis (Yoshimura and Byrappa, 2008). For example, ZnO in the form of bulk single crystals, fine particles and thin films, which is an attractive photoelectric material, was successfully synthesized by hydrothermal process (Sekiguchi et al., 2000; Ohshima et al., 2004). A hydrothermal technique was also used to the preparation of carbon nanotube, which possesses outstanding mechanical, structural and electric properties (Bernholc et al., 1997), and is superior to the commonly used method (Gogotsi and Libera, 2000). There, it provides an option for preparing Li2TiO3. Laumann et al. (Laumann et al., 2010) synthesized cubic a-Li2TiO3 by hydrothermal reaction at 180 °C for 18 h, using TiO2 powder, comprising of anatase and rutile, and lithium hydroxide in de-ionized water. However, the prepared a-Li2TiO3 is extremely unstable with a maximum lithium loss of 75% when treated in bathing experiment."

Jan 1, 2012

By J. A. Hansuld

"THIS SESSION marks something of a milestone in that it is, as far as I know, the first session at a CIM Annual Meeting devoted entirely to exploration geochemistry. This is an indication of the general acceptance and widespread recognition by industry of geochemistry in mineral exploration. As a first, I hope it proves sufficiently successful and interesting that geochemical exploration sessions will become a routine part of future CIM annual meetings. The greater use and acceptance of geochemistry has resulted in many investigations and advances, especially in areas such as the Canadian Shield. For a first session on geochemistry, the meeting in Quebec suggested an ideal opportunity to assess these advances and report on the current application of geochemistry in the Shield. The theme of the session is ""Geochemical Exploration in the Canadian Shield - The State of the Art."" A series of six papers will be presented dealing with the various dispersion media - rocks, heavy minerals, ""soils"", lake sediments, waters and vegetation. As a background to the individual presentations, I would like to take a few minutes to briefly trace the history of the use of geochemistry in the Canadian Shield."

Jan 1, 1971

By S. Manning, W. Morris

Mineral exploration assessment file information has long been considered a useful resource for developing mineral exploration strategies, and one of the most common data sets fled in assessment reports is ground magnetic surveys. The new Earth Resources and Land Information System database (ERLIS) now provides a method for rapidly accessing all references to a specific area through a series of raster images. The ERLIS provides access to the Assessment File Research Imaging (AFRI) database which comprises geo-science mineral exploration assessment file data, Mineral Deposits Inventory (MDI), together with provincial aeromagnetic data from the Ontario Ministry of Northern Development and Mines(MNDM). Conversion of the raster images of ground geophysical data to vector data files together with the concatenation of grids from adjacent claims provides a method for constructing high resolution magnetic regional images. The value of this resource is demonstrated through the construction of a single composite magnetic image derived from eight assessment file grids for an area south of Kirkland Lake, Ontario, within Pacaud and Catharine Townships. The composite grid of magnetic data provides a map with resolution that is not achieved by currently available Ontario Geological Survey airborne data sets. Details contained within the new high resolution image, permit the differentiation of lithologies and their boundaries, fault orientations and the location of alteration zones with magnetic response.

Jan 1, 1997

By C. R. Tang

Due to the current lack of sufficient occupational hazards supervisory staff in China, an occupational hazards supervision regulatory framework is proposed, based on the cloud. Data on respirable dust, noise, heat, toxic and hazardous substances and protection facilities are uploaded to private cloud computing data and service centers to build an occupational hazards supervision system. This system promotes occupational hazards governance. Complex reports are generated. Through the establishment of an occupational hazard supervision data threshold, the dynamic regulation of occupational hazards is accomplished. The main characteristics of this approach are low cost, ease of expansion and maintenance, and strong performance.

Aug 1, 2013

By C. A. Ingram

The Cigar Lake ore body is a high-grade uranium deposit situated within water-saturated sandstone. In order to extract the uranium ore remotely, ensuring minimal radiation dose to workers, and also to access the ore from stable ground, the Jet Boring System (JBS) was developed. This method of mining involves drilling a pilot hole up through a frozen ore body and utilizing a high-powered water jet to mine out cavities. During the mining process an ultrasonic sensor will be used to provide feedback to the operator, who is located beneath the ore body, as to the dimensions of the cavity. However, more precise data is required to determine final shape, volume, and location of the cavity for mine planning purposes. Selecting a device that will provide sufficient range data in the challenging environment will be vital to optimizing the mining process. Major issues include fog build up and flying debris during mining, and an environment that is wet, dark, and cold A test cavity has been designed and constructed at the Saskatchewan Research Council (SRC) so that a study comparing three different technologies, as prospective candidates for the survey system, can be conducted. The devices being evaluated include a Senix ultrasonic sensor, an MDL Cavity Auto-Scanning Laser System (C-ALS), and a MESA Time of Flight (ToF) camera. The ultrasonic sensor is known to provide range data in foggy conditions but has low accuracy. The C-ALS has been developed for surveying remote cavities but is expensive and does not provide reliable data in fog. The ToF camera provides a high volume of data in a short time period, with potential to provide accurate information in extreme conditions, but has not been tested in a mine cavity application. Iterative closest point (ICP) registration is applied in an attempt to create a 3D point cloud from the scan data and to also compute rotation and translation of the ToF camera. This paper presents an overview of the challenges involved in conducting a survey within a JBS mined cavity, the analysis used to determine the suitability of each device, and the data collected from the test cavity.

Aug 1, 2013

By E. G. Leonardon

The question of geophysical prospecting is one that is beginning to occupy a pre-eminent place in the minds of those actively concerned in the discovery and exploitation of ore deposits. This is in marked contrast to the reception accorded such ideas when the Junior author, six and a half years ago, began introducing electrical prospectii1g to the mining fraternity on this continent. Happily, the mention of geophysics no longer evokes the sceptical and pitying smiles that it did in those days. A little reflection will show that modern geophysical methods are merely a logical development from pre-existing technique. In the study of geological problems, is it not logical to use all possible physical properties of matter? The study of crystal form and cleavage, the examination of thin sections of minerals by means of polarized light or ordinary light, in fact, utilize physical properties of minerals for the benefit of the geologist. These are, of course, laboratory methods, and the extension of the study of similar properties into field work was inevitable. This began with the magnetometric surveys, used as early as 1760 in New Jersey to locate iron ores. Eighty-four years later, John Locke's work in the United States resulted in pointing out relationships between the terrestrial magnetic field and main tectonic features of the earth's crust.

Jan 1, 1928

By John F. Haberer

DURING the twentieth century Canadians have been steadily improving their standard of living. Originally, this improvement depended almost entirely upon the export of basic raw materials and a triangular system of trade with Great Britain and the United States. However, since the Second World War, Canadian living standards have improved still further because of the very rapid d0evelopment of secondary industries. As a result of this development, the present demand for scientists and engineers exceeds the supply, and interest in scientific research has never been greater. It is the purpose of this paper to discuss the professional and economic status of Canadian scientists and engineers over the past half century. GROWTH OF RESEARCH It is difficult to determine accurately the amount of scientific research conducted in Canada since 1900. However, ?prior to World War I, it was limited and was connected mainly with primary industries and health. Government departments did some; university science faculties, overloaded with teaching responsibilities, did a little; and industry, which consisted mainly of subsidiaries of American and British firms, depended chiefy upon foreign sources for new information.

Jan 1, 1956

By Alex Rown

"THE SYDNEY COAL FIELD has long been afflicted by high costs and low productivities. However, a distinct possibility now exists that improvements can be made in costs, productivities and revenues. If these hopes materialize, the Sydney coal field will once again be regarded as a valuable asset in our national inventory of energy and metallurgical coals. The economic possibilities for the Sydney collieries depend on performance at the pits and in the market place. Because this audience is already well informed about colliery planning, I would like to start with an assessment of the modern coal market insofar as it may relate to the Sydney field. Since 1950 we have seen a vast growth in the population and industrial empires of the western world which has resulted in an enormous and escalating demand for energy. If the energy supply pattern of the first 50 years of this century had been followed, this would have led to an immense demand for coal."

Jan 1, 1972

By G. M. Behrend

A group of mining men attending a recent workshop on "Analysis and Control in the Canadian Minerals Industry" issued, among others, the following statement: "Slurry flow measurement is considered to be one of the most inaccurate in the industry. A special program should be launched to encourage development." In response, this paper starts off the program with an investigation of the principles and the conventional practice of slurry flow measurement and identifies weaknesses which cause inaccuracies. Then it follows with descriptions of nonconventional systems in use at various locations and comments on their degree of success. The paper concludes that relatively simple methods, which it describes, can be applied to obtain an accurate slurry flow measurement.

Jan 1, 1973

By T. Rigg, J. N. Stone

"The process described has been developed to utilize low-grade scrap -turnings, borings, tin cans and other types of ferrons scrap which currently has been of limited or no use in conventional steelmaking processes. If scrap of this type can be converted into high-purity iron by chemical means then there is a potential saving of several million tons of metal annually in North America.The process is chemically quite simple and consists of dissolving ferrons scrap in hydrochloric acid, followed by evaporation and crystallization of the resultant solution to yield ferrons chloride crystal.s. These crystals are dries, briquetted and converted to non sponge by reduction in hot hydrogen. The HCl produced from the reduction step. is absorbed in water and the hydrochloric acid so produced is returned to the dissolver circuit. The hydrogen produced from the initial dissolution of the scrap is used to reduce the ferrons chloride. Purity is maintained by bleeding off impure chloride solutions from the evaporator-crystallizer circuit, and converting these chlorides to oxides and HCI in a high-temperature spray roaster. The HCl produced in the roaster is absorbed in water and the hydrochloric acid returned to the dissolver."

Jan 1, 1970

By U. Erb, L. Monaco

"Electrodeposited nanomaterials are increasingly implemented in advanced industrial applications in the aerospace, automotive, defence, electronic and energy sectors due to their outstanding physical, chemical and mechanical properties, including increased strength and wear resistance, and superb magnetic properties. As with the development of any class of new materials, the corrosion behaviour of these electrodeposits requires considerable attention. This presentation reviews major developments in the understanding of the corrosion behaviour of nanocrystalline metals, alloys and metal-matrix composites over the last 20 years, with emphasis on how their intrinsically high density of intercrystalline defects does not compromise their corrosion resistance as initially expected.INTRODUCTIONOver the past 20 years there have been considerable advances in the understanding of the corrosion behaviour of nanocrystalline metals, alloys and metal-matrix composites. In this paper, the corrosion properties of nanocrystalline nickel, cobalt, zinc, and copper and some of their alloys are reviewed with emphasis on how a reduction in grain size affects their corrosion behaviour in different environments.It is possible to synthesize nanocrystalline material with microstructural refinement down to the range of 1 to 100 nm using a large number of processing methods. There are five basic synthesis methods that can be used to classify the different techniques: vapor-phase processing, liquid-phase processing, solid-phase processing, chemical synthesis, and electrochemical synthesis. Depending on the synthesis method, different microstructures (equiaxed, textured), shapes, and forms (films, particles, bulk material) may be produced. In addition, other factors may be introduced (eg. residual porosity or amorphous phases), aside from microstructural refinement, which can contribute to the observed properties (Erb, 2010). In order to interpret and categorize the resulting microstructures, a dimensional structure modulation scheme was introduced by Siegel (1996) in which zero-dimensional nanomaterials refer to individual particles, clusters, etc. One-dimensionality results from a layered (less than 100 nm thick) structure. Two-dimensional nanomaterials are thin, layered structures containing grains (less than 100 nm) within each layer. Finally, three-dimensional nanomaterials are bulk structures with an average grain size less than 100 nm."

Jan 1, 2012

By D. W. R. George, J. L. Stewart

Developments in the last decade, which have contributed to increased productivity and decreased coke rates in the iron blast furnace, are reviewed. Future progress in blast-furnace practice is also considered.

Jan 1, 1966

By J. X. Guo, A. Pindred, J. Moore

"Two modified centrifugal flotation cells (CFC), Q2 and Q3 models, have been developed for froth flotation. The operating mechanism of Q2 uses a rotating bowl to create a centrifugal force on the feeding slurry. Froth concentrate is collected on the central top of the cell and tailing is discharged along the top edge of the rotating bowl. The Q3 utilizes a vertical rotating feed pipe to introduce the feed slurry into a stationary flotation column cell. A centrifugal force is also created by a rotating pipe for the feeding slurry. Froth concentrate floats over the cell and tailing discharges through the bottom of the cell. The centrifugal force causes the flotation recovery of fine particles from CFC to be higher than from the conventional cell. The major operating variables of CFC are the rotating speed, air flow rate into feed slurry, and slurry feeding rate etc. Flotation tests have been carried out on synthetic mixtures of galena-silica and chalcopyrite-silica, as well as some natural base metal ore samples. Parallel tests were also conducted on a conventional flotation cell. The comparative test results demonstrated that both Q2 and Q3 have the advantage of higher recovery of finer than 10 µm mineral particles, which are very difficult for the conventional non-centrifugal flotation cell to recover. The grade-recovery curves produced from CFC are equivalent to or better than the conventional flotation cell. There is a potential in the future for the CFC to be employed in slime flotation.1. IntroductionA centrifugal flotation cell (CFC) was originally developed by Clean Earth Technologies [I] to separate oil from water and was subsequently applied in froth flotation. Figure 1 illustrates the design of the original CFC, in which a vertical feeding pipe is attached to the center part of a rotating drum and a stationary shell encloses it to direct the float froth and tailing discharge. The slurry flows down to the bottom of the spinning drum, gets in touch with a screen of air bubbles and then migrates outwards under the effect of centrifugal force. After the mineralized froth enters the rotating cell, it is pushed back to the inner surface. The overflowing froth is collected in the froth launder while the tailing slurry is discharged through orifices along the outer rim of the drum."

Jan 1, 1998

By R. Pérez, James A. Finch, F. Tavera, Cesar O. Gomez

"Gas holdup is a variable which affects the operation of flotation columns. On one hand, gas holdup is a function of bubble size (a function of sparger type, frother characteristics and concentration, and air flowrate), tailings flowrate, solids content, and mixing patterns in the collection zone. On the other, gas holdup defines flotation kinetics and carrying capacity. Therefore, gas holdup is a useful variable to control and diagnose the operation of a flotation column, but the lack of a reliable sensor for on-line gas holdup monitoring has prevented its use in industry.This work describes the principle and the practical difficulties associated with the development of a gas holdup sensor based on the measurement of the electrical conductivity of dispersions. Two different approaches have been devised. These approaches will be described and test results presented of prototypes in laboratory and industrial columns.Background.Several years ago, a research program was initiated at McGill to use electrical conductivity as the basis for developing sensors for process measurements in mineral processing. Electrical conductivity is an intensive property which is a function of the concentration of the different phases present in a dispersion. The initial focus was on the detection of the interface between two dispersions with different characteristics (i.e., that between the collection and froth zones in flotation columns or that between clear water and sedimented solids in thickeners). The technique works in this case by searching for the location at which a sudden change in specific conductivity occurs, as a consequence of different gas holdup or solids content, and absolute values of the specific conductivity of the dispersions involved are not necessary1,2."

Jan 1, 1995

By D. M. Baird

ABSTRACT A revised stratigraphic section of Carboniferous rocks which occupy about 700 square miles in southwestern Newfoundland is presented. Gypsum, which outcrops at thirty-five different localities, is found to belong to four principal zones in the section. The newly mapped structure of the region makes the otherwise random occurrences of gypsum appear as systematic outcroppings of the four zones which follow the regional structure. Details of several occurrences are given and those most advantageous for exploitation are pointed out. INTRODUCTION ROCKS of Carboniferous age occupy an area of about 700 square miles in southwestern Newfoundland. They occur in a belt, from 5 to 15 miles wide, which extends from the head of St. Georges bay southwestward for 65 miles to the mouth of Little Codroy river (see Figure 1). Several hundred feet of Pennsylvanian rocks overlie rocks of Mississippian age, which are at least 12,000 feet thick. The rocks of the Carboniferous section of Newfoundland are very similar to those of Nova Scotia and represent a northeastward continuation of the same palaeophysiographic conditions. Mississippian measures of Windsor equivalence include thick gypsum deposits which outcrop at many places and which extend under large areas as indicated by sink-holes and by structural considerations.

Jan 1, 1951

"AbstractThe Sedimentary Basin area of Western Canada, which lies between the Precambrian Shield and the Cordilleran mountain area, covers approximately 800,000 square miles. Sediments ranging in age from Cambrian to Tertiary are present and, of these, horizons in the Upper and Lower Cretaceous, Jurassic, Mississippian, and Devonian have yielded commercial oil and gas flows. Producing horizons in the Cretaceous and Jurassic are sandstone, while all those of the Palaeozoic are carbonate rocks such as red limestone or dolomite (bioherms). Shows of oil and gas have been encountered also in the Cambrian and Triassic sediments.The broad structural features of this vast expanse of sedimentary rocks are the Moose Jaw syncline, the Sweet Grass-Battle River arch, the Alberta syncline, the Foothills belt, the Rocky and Mackenzie mountains, the Great Bear-Slave Lake basin, and the Mackenzie Delta Basin area.This contribution outlines the .stratigraphy and structure of the Basin area, and gives examples of present producing oilfield structures and stratigraphic traps.Part 1.-Regional StratigraphyIntroductionThe vast expanse of relatively undisturbed sedimentary rocks of western Canada has long been recognized as prospective territory to search for oil and/ or gas. This search in western Canada dates back before the turn of the century, but, considering the size of area to be explored and tested, the effort an<l money expended upon it, which, before the recent discovery of oil at Leduc, Alberta, appeared large and fruitless, now seems almost ridiculously small. A check-up of effort and money expended prior to and since the Leduc discovery would undoubtedly reveal that more wildcatting and development has taken place during the last two and a half years than during all previous years combined. The figures would astound not only the average citizen, but many within the industry itself."

Jan 1, 1950

By Robert MacPhail, Louis Racine, Bret G. Cousins

"Sodium Isopropyl Xanthate is employed in a wide variety of sulphide flotation procedures due to the specificity over other xanthates and the cost savings over other sulphide collectors such as thionocarbamates, xanthogen formates and dithiophosphates. An investigation carried out by Tennants Research Technology Applications (TRTA), has produced a chemically enhanced SIPX that has shown all the advantages of normal SIPX along with improved recoveries.Currently, FLEX 31 is manufactured at the Prospec Chemicals xanthate plant in Fort Saskatchewan, Alberta, Canada. Prospec, founded in 1983, produces approximately 4500 tonnes of xanthates per year and is presently undergoing expansion to produce approximately 6000 tonnes. The proprietary process for FLEX 31 is a new addition to plant operations that include the production of xanthates, thionocarbamates and xanthogen formates.This paper will cover the testwork on the zinc flotation circuit at the Louvicourt Mine in Val d'Or, Quebec. This testwork indicated that FLEX 31 could replace SIPX due to the ability of the FLEX to improve zinc flotation kinetics without adversely affecting final concentrate grade. FLEX has presently replaced SIPX in the zinc circuit at Louvicourt.BackgroundThe Louvicourt deposit is hosted by greenschist facies Archean volcanic rocks located in the southeast portion of the Abitibi Greenstone Belt. In the Val d'Or area, the volcanic rocks form an east-west striking, steeply dipping and south-facing sequence composed of thick mafic and ultramafic flows of the Lower Malartic Group.The joint venture has three partners-Aur Louvicourt Inc. (30%), Novicourt Inc. (45%) and Teck Corp (25%). Aur Resources holds 30% interest through Aur Louvicourt, a wholly owned subsidiary and is the operator of the project. Novicourt Inc. is 60.9% held by Noranda.Approximately 75% to 85% of Louvicourt's revenue comes from the sale of copper; 10% from gold (in the copper concentrate); 7% from zinc and 3% from silver (also in the copper concentrate) The copper at Louvicourt is fairly ""fast floating"". About 60% of the copper in the ore can be concentrated in the first flotation cells with feed grades of approximately 4% copper.The initial testwork and pilot trials had indicated that it would be difficult to achieve zinc grades over 52% and recoveries would have to be kept at a level amenable to salable concentrate grades. The actual mill results, with a fine regrind, achieved zinc grades of 55% to 56% at about 75% recovery."

Jan 1, 1996

By Arnaud Faucher, Amar Sabih, Sudarshan Martins, Tristan Martin, Sami Makni, Peter Radziszewski, Poorya Hosseini, Francois-Raymond Boyer

The measurement of acoustic signals produced by a tumbling mill has been previously used to determine the operating state of the mill and correlate the variations of the sound intensity with the operating conditions of the mill. Separately, the discrete element model (DEM), a software simulation of the mill, was developed to provide insight into the operation of the mill. Presently, there has not been much work reconciling the DEM simulation of the mill with the acoustic signal. Working from basic principles of linear, time-invariant systems, agreement between an acoustic DEM simulation and the measured signal is sought. First, the impulse response function of the mill is measured. The DEM provides the forces applied to the mill shell as a function of time. A convolution of these simulated shell forces and the transfer function gives the simulated acoustic signal. This signal is compared to the measured acoustic signal, both in the time domain and the frequency domain. Finally, a discussion of the results is given.

Jan 1, 2012

By Ross D. Lawrence

"IntroductionOne of the methods used when applying the Market Approach to the valuation of a mineral exploration property is known as the Joint Venture Terms Method. The method is particularly useful for the valuation of early-stage exploration properties. Unfortunately, valuators are sometimes imprecise in distinguishing between joint ventures and other types of transactions.At VALMIN '94, Bob Appleyard1 proposed that, if one ignores the time value of money and the probability that the expenditure commitment would be completed, the formula to calculate the value ($V) of a property owned by Party B at the time of the deal would be:$V =$Ex (100-1%)/1% (Formula I)Where $V is the value of the property2Where $E is the expenditure commitment by Party A, andWhere 1% is the percentage property interest to be earned by party A.At PACRIM '99, Mike Lawrence and Graham Dewar3 referred to this method and suggested that there was an ambiguity in the formula proposed by Appleyard in 1994. Mike Lawrence referred to this problem again at VALMIN '014•Lawrence & Dewar suggested that the formulashould be:$V100% =($Ell%) x 100 (Formula 2)Where $V 100% is the value of the entire property,Where $E is the expenditure commitment by Party B, andWhere 1% is the percentage property interest to be earned by Party B.Subsequently, there has been considerable discussion in the AuslMM Bulletin5. In my view, this discussion has touched on a number of useful points, but generally has overlooked one essential element needed for an understanding of the correct application of the N Terms method. That essential element is to understand that there is a material difference between (1) entering into a joint venture arrangement and (2) the purchase of an interest in a property."

Jan 1, 2003