Search Documents

By R. I. Kraydenko, A. N. Dyachenko

"The possibility of SiO2 5N production by staged purification of ammonium hexafluosilicate (NH4)2SiF6 is discussed. High-purity silicon dioxide can be obtained with fluoridation of quartz concentrate by solid NH4F at 100 °C, with further sublimation of the product at 320 °C, its dissolution, ammonia hydrolysis, filtration and drying of SiO2•nH2O. This is accompanied by regeneration of the processing reagent - NH4F.INTRODUCTIONProduction of high-purity silica-5N (SiO2 content over 99.999%) is an important and urgent task of the modern chemical industry. This material is used in the manufacture of optical glass, optical fibers for internet cables, silicon for solar power and electronics.Quartz concentrate is raw material for the production of silicon dioxide. The existing technologies of synthetic silicon dioxide were introduced in the mid-twentieth century. These methods are energy-consuming, multi-step and do not meet stringent environmental requirements. In fact, as some conventional technologies became obsolete; it became necessary to develop new methods for the production of synthetic silica. We believe that the fluoride technology of processing of quartz materials by ammonium fluoride is the most promising direction.In industry, silicon dioxide marked ""Silica White"" is obtained by liquid-phase method. The method consists of the precipitation of amorphous silica from sodium silicate solutions with acids. The resulting product is filtered, washed and dried. Depending on the deposition conditions and nature of the coagulant the ""Silica White"" is acidic, neutral or alkaline. The dry product is subjected to grinding. The degree of dispersion and porosity of the particles of Silica White depends on the nature of decomposition agent (a substance that decomposes the silicate) and coagulant, conditions of sedimentation, filtration and drying. During the drying process the silica particles are sintered into aggregates of a few millimeters."

Jan 1, 2012

By S. Espley, T. Nyabeze, D. Beneteau

"Many mentorship programs are available to Canadian mining industry employees. Some are company-led initiatives, whereas others are provided through educational institutions or nonprofit organizations. In 2016, a national survey was launched to gain insight into perceptions of what mentorship is, learn about available programs, and collate experiences with formal and informal mentorship opportunities. This paper outlines survey findings and delivers recommendations to industry for consideration in employee mentorship programs. In addition, mining industry leaders share their mentor/mentee perspectives. The intent of this paper is to bring awareness of best practices that can help employees grow and develop in their profession.RÉSUMÉ Les employés de l’industrie minière canadienne ont accès à de nombreux programmes d’encadrement. Certains sont des initiatives menées par les sociétés, d’autres sont proposées par le biais d’établissements d’enseignement ou d’organismes à but non lucratif. En 2016, une enquête à l’échelle nationale a été lancée en vue d’obtenir des informations quant à la perception de ce qu’est réellement l’encadrement, de découvrir les programmes proposés et de comparer les expériences aux possibilités d’encadrement, officielles ou non. Cet article présente les résultats de cette enquête et fournit des recommandations à l’intention de l’industrie afin qu’elle les prenne en compte dans ses programmes d’encadrement des employés. En outre, des chefs de file de l’industrie minière partagent leurs points de vue conseillers/protégés. L’intention de cet article est de sensibiliser les employés aux meilleures pratiques, ce qui les aidera à évoluer et à se développer dans leur profession. INTRODUCTIONThis paper about mentorship in the mining industry is based on voluntary responses to a cold survey, written and circulated by the authors. In 2016, a link to an online mentorship survey was circulated to males and females in the mining industry with the belief that mentorship programs should be available to everyone. The link was delivered via the authors’ personal networks in mining, the CIM Reporter, Women in Mining (WIM) email blasts, LinkedIn, and Facebook. This paper summarizes the answers to the survey questions. The paper is a follow up to one by the same authors (Nyabeze, Espley, & Beneteau, 2010), which was written to gain insight into why women join and stay in the mining industry, and to learn why the overall representation of women is low."

Jan 1, 2018

By Grant Small, Jessica Kinal, Christopher J. Greet

"The conversion from an electrochemically reactive grinding media (forged steel) to a more electrochemically inert alloy (high chrome white iron) not only reduces the wear rate of the grinding media, but also has an impact on the grinding chemistry. Typically the grinding chemistry becomes more oxidising, with less reducing Eh values and more dissolved oxygen in the pulp. There is also a decrease in the EDTA extractable iron, which is an indication of the change in the media corrosion. These changes are indicative of alterations in the surface chemistry of the minerals that the operator is trying to separate. For porphyry copper ores the changes in the pulp and surface chemistry not only affect the copper sulphide minerals, but also impact the iron sulphides (i.e. pyrite and pyrrhotite). Generally, with more oxidising pulp chemical conditions during grinding there is an increase in the oxidation of the iron sulphides which renders their surfaces hydrophilic, thereby depressing flotation. This leads to improved selectivity for copper sulphides against iron sulphides.INTRODUCTIONPorphyry copper deposits are the dominant source of copper that is mined today to satisfy global demand. These style of deposits typically contain one percent copper mostly as chalcopyrite, but may contain other copper bearing minerals (for example, bornite, chalcocite, azurite, malachite), small quantities of pyrite and quartz. Porphyry copper deposits also contain economically significant quantities of gold, silver and molybdenum. Interestingly, the majority of the world’s porphyry copper deposits are concentrated along tectonic plate boundaries (Figure 1)."

Jan 1, 2016

By D. Michaud, C. Bazin, S. Lévesque, L. Pérez-Barnuevo, H. Longuepée

In recent years, with the emergence of Geometallurgy, a great effort has been made to characterize ore resources as early and accurately as possible, to allow better design and a more efficient operation of mineral processing circuits. In this context, core logging plays an important role, since drill cores provide the first insight into the ore characteristics. However, to satisfy geometallurgical requirements, traditional core logging does not suffice. New tools and methodologies need to be developed for the automation of core logging and the acquisition of mineralogical data better related to mineral processing performances. In this paper, a methodology for the geometallurgical characterization of drill cores is proposed, based on the drill core textural patterns. Textural pattern is defined here as the macroscopic spatial arrangement of minerals. The Mont-Wright iron ore deposit (Quebec, Canada) is used as a case study. The first part of this work aimed at analyzing the potential link between the iron ores textural patterns observed in drill cores and their response to ore processing, namely comminution and concentration. Preliminary results show similar performances in terms of energy consumption and heavy liquid separation for samples showing the same textural pattern. In the second part, this work seeks to develop a methodology for the automated identification of drill core textural patterns by the application of digital image analysis and discriminant function analysis. The results obtained show that this methodology is able to discriminate between the textural patterns identified at Mont-Wright with a good rate of success. Therefore, this work lays the foundation for the development of a new drill core characterization tool, which would allow for the early prediction of the iron ore behaviour during mineral processing through the identification of drill core textural patterns.

Jan 1, 2016

By A. R. Sorta, D. C. Sego

ABSTRACT Temperature, solute, texture, and thixotropic effects on time domain reflectometry (TDR) measurements of water content in oil sands tailings are investigated. Results indicate that TDR water content measurements are influenced by temperature, residual bitumen, and percent clay in the tailings. A correction of 0.03–0.10/ °C must be applied to the apparent dielectric constant (Ka) to account for the effect of temperature. The Ka-volumetric water content relationships of slurries differ significantly from the commonly used Topp calibration equation. The age of the tailings and the addition of phosphogypsum did not influence TDR water content measurements.

Jan 1, 2013

By Y. O. Fortier

"ForewordTHE Arctic Archipelago and northern Greenland contain an orogenic region that is as much as 300 miles wide and over 1,400 miles long. It occupies much of what was formerly classified with the Arctic Plains and grouped with other plains and lowlands of Canada as one main geological division. It is proposed that this folded region be designated the Innuitian Region and be recognized as one of the main geological divisions of Canada.Canada's main geological divisions (see Geological Survey of Canada, 1947) have been considered as consisting of a central shield, largely surrounded by plains that separate it from eastern and western mountains. The plains include the Interior Plains, the St. Lawrence Lowlands, the Arctic Plains or Low-lands, and the Hudson Bay Lowland, which is in the central part of the Shield. Plains and mountains are, strictly speaking, physiographic terms, but because mountains are generally folded regions and plains are generally made of undisturbed strata, such terms are useful vehicles to express the fundamental make-up of the land. Nevertheless, it is preferable to use the terms Appalachian and Cordilleran 'Regions' rather than 'Mountains', as those geological divisions are not exclusively made of mountains.Because of the lack of more definite information, the 'Arctic Plains' have included, in the past, regions with plateaux two to four thousand feet above the nearby sea, mountain ranges reaching approximately 10,000 feet above sea level, and regions of folded strata."

Jan 1, 1955

By Desmond Y. M. Lee

This paper presents a procedure to prepare input for the computerized pit design system at Iron Ore Company of Canada. The procedure is simple and requires very little training. Also, it is general enough to accept both bench (horizontal cross section) maps and section (vertical cross section) maps. The output of this procedure is data which represent blocks of ore and waste with dollar values based on mineral content. The ultimate pit design is presented in printer-generated graphs, with numbers indicating the depths of pit bottom walls. Roads are added manually by the engineer with the aid of other computer programs. Section maps and bench maps are also printed as part of the output of the ultimate pit design.

Jan 1, 1978

By Z. S. Shao, X. Z. Li

"Sub-critical crack growth plays an important role in long-term creep failure in brittle rock. Based on micromechanics established by using relationship between micromechanical wing crack growth model and macroscopic strain, and comparing theoretical model with testing results, a method, which applies the theory to real rock, is suggested in this paper. Using this method, properties of creep, damage and progressive failure in brittle rock are investigated. Effects of stress state on creep failure time and steady-state creep rate are analyzed and graphically presented. The results are helpful to support structure design and service life evaluation of underground structures with high geostatic stresses. INTRODUCTIONDuring the long-term operation in underground space with brittle surrounding rock, due to chemical action between pore water and rock, the failure of rock often occurs at stresses below its short-term failure strength, which brings serious effect on the long-term stability of underground structure. Thus, the long-term strength of brittle rock attracted wide interests of scholars around the world. The static fatigue limit was predicted by exponential function that is derived from abundant experiment data of stress level and failure time(Schmidtke & Lajtai, 1985), and similar result by relationship between stress state and failure time was also suggested (Lau & Chandler, 2004; Aubertin et al., 2000; Sangha & Dhir, 1972). According to relationship between steady creep rate and stress state during creep, a critical stress that transforms steady-state creep to accelerated creep was studied and the long-term strength was suggested (Tsai et al., 2008; Ma & Daemen, 2006; Lajtai et al., 1991). Based on the results of experiment in compression, the long-term strength of rock was defined by stress at volume strain reversal. When applied stresses are larger than the long-term strength, the microcracks in the rock will grow constantly, damage of rock will increase and failure of rock will occur finally (Chandler, 2013; Bieniawski, 1967; Brace et al., 1966)."

Jan 1, 2015

By J. S. Moretzsohn, D. F. Graham

"Airborne Synthetic Aperture Radar (SAR)was acquired over the Carajás Mineral Province, within the rainforests of the Amazon, which hosts the world’s largest Fe-ore deposit(Santos, 1986). Significant chemical weathering exists in this humid environment. PrevalentAu mineralization is thought to be generally associated with deformation zones in Archean schists.Radar data have proven to be very useful as an aid to geological mapping in the tropical rainforests of the Amazon Basin in Brazil. In these densely vegetated areas, a sense of regional structural trends is obtained as a con-sequence of the sensor/terrain geometry. The top forest canopy is the main terrain reflector of X-band radar energy, and consequently is the main terrain surface feature expressed in processed radar imagery. Radar is important for extending t,he continuity of mapped structural lineaments. Differential weathering is related to variations in radar image texture which is used to infer gross lithologic variations and relative age relationships of major rock units. Specifically, quartzites and banded iron formation are highlighted in the radar imagery due to their unique tonal and textural appearance, in contrast to schists, gneisses and metavolcanic rocks. As tropical areas are typically enveloped in cloud or mist, radar data are invaluable in providing information for logistical planning of field mapping activities."

Jan 1, 1997

By A. Hayatdavoudi, K. G. Sawant, F. Boukadi

"In this work, we found that contact between shale and water results in development of micro fractures. Based on results of experiments on Pierre shale, we conclude that appearance of micro fractures begin with saturation of capillaries, ionic and diffusive transport of water into the shale clays and once capillaries are saturated, the cause of micro fracture propagation is the conversion of ionic activity/exchange to excess pressure that did not exist before fracking. Based on these findings, the spread of micro fractures appear to be a time-dependent phenomenon which has not been addressed in the existing macro/micro fracture models.INTRODUCTIONShale has often been involved as a hazard in drilling operations. This hazard can be defined as “destabilization” of shale. When contacted with water-based drilling fluids, some shales readily swell and sometimes, cause the wellbore to cave-in, slough, wash-out, close, and pack-off, impeding the drilling by sticking the drill-pipe. However, once drilling reaches the desired depth or length, the casing is set, cemented, and perforated, and then actually we wish to initiate fractures and destabilize the shale formation, using hydraulic fracturing.Clays constitute a major portion of minerals in shale. These clays contain a large amount of free energy which is the main factor for “slick” water adsorption/absorption. In fact, the reason for using “surfactants” in hydraulic fracturing fluids is to make the penetration of the fluid into the capillaries much easier, thus water meets with less resistance to enter the small capillaries. Also, the result of high capillary suction pressure is due to small Angstrom size capillaries, smaller pores and presence of ions and hydrateable metal atoms. The free energy is thus, related to all the above mentioned and other affects. Capillary pressure, osmotic pressure and other pressures are responsible for creating the micro-fractures in shale, thus, increasing the network of micro-fractures which leads to more gas production. The objective of this study is to evaluate the pressures of the individual ions which are released by the diffusing “slick” water into shale. These pressures would be added to the above mentioned capillary pressure, osmotic pressure, bacterially-induced pressures, chemically-induced reaction pressure, pressure due to exchangeable ion-transport, pressure due to release of free energy of solvation and eventually to the pore pressure as suggested by Terzaghi’s equation."

Jan 1, 2015

By H. J. McQueen

Aluminum was hot worked at 400 - 500°C and strain rates (e ) of 0.004 -0.1s-1, under reversing strains (c) of 0.5 to 0.2 or 0.5 to 0 and also advancing from 0.5 to 1 or 0.5 to 5. Under similar test conditions for different parts of the strain paths, the average measured flow stresses are found to agree with each other. In the forward and backward strain path tests, the almost identical steady state plateaus affirm the occurrence of dynamic recovery (DRV). On reversal of strain direction at constant e , there was generally negligible Bauschinger effect. In specimens annealed at 400°C, static recrystallisation (SRX) was followed microstructurally. mainly by disappearance of elongated grains with serrated boundaries because the new grains were only little a finer than the old due to low strain energy. The only influence of reversing strain path observed was the effect of change of grain boundary area as grains elongated or returned towards equiaxed. In optical microscopy, elongated grains with serrations and deformation bands confirmed DRV in forward path specimens. In reverse path specimens, equiaxed grains were gradually restored with retention of serrations and bands. In low magnification polarized optical microscopy, grain alignment increased with strain for forward path specimens; whereas it decreased in reverse path ones, supporting DRV. Orientation imaging microscopy (OIM/SEM) revealed that elongated grains are broken up as deformation bands rotate during the forward path and that grains return to equiaxed appearance on backward straining. Comparative studies using optical microscopy in polarized light (POM), OIM/SEM and transmission electron microscopy (TEM) revealed that while subgrains remain equiaxed and constant in size and character during the forward and backward paths, the fraction of low angle facets decreased while that of high angle grain facets increased with increasing strain; these are coupled with a fairly low fraction of medium angle boundaries. The results contribute to the understanding that dynamic recovery in aluminum maintains sub-boundaries with low misorientation but as grains elongate and more subgrain become adjacent to grain boundaries the fraction of high angle boundaries rises (with backward straining it was vice versa).

Jan 1, 2007

By V. I. Ryaboy, S. A. Kondratyev

"The paper describes influence of desorbed species (DS) of a number of xanthates and higher dialkyldithiophosphates on the collective ability of these reagents. Adsorbed on mineral DS of the reagents in the form of products of non-stoichiometric interaction between xanthates and heavy metal salts can pass to the gas–liquid interface and remove liquid from the layer between mineral particle and water surface. A high-speed video recording displays the process of spreading of DS of xanthates and dialkyldithiophosphates over water at the moment of local rupture of the water layer. Expansion of “dry” spot on the mineral surface after DS of xanthate capture and displace liquid from the layer has been proved with video images. The comparative analysis of collecting ability and dynamic surface activity of dialkyldithiophosphates shows that these characteristics are in good correlation. The forces exerted by spreading film of the reagent’s DS on liquid in the water layer are evaluated, and the water flow rate from the layer is determined. The line of the reduction in thickness of the water layer behind the front of spreading film of DS of dialkyldithiophosphates and xanthates coincides with the line of the increase in their dynamic surface activity. Their force on the liquid volume in the water layer characterizes collecting ability of the DS film of xanthates and dialkyldithiophosphates. It has been supposed that the collecting ability of DS of a reagent is a part of its overall flotation activity, conditioned by surface tension of solution and, thus, defined by the structure of hydrocarbon fragment of the reagent.INTRODUCTIONIt is believed that collecting ability and selectivity of collecting reagents is mainly governed by adsorption of a reagent at the solid–liquid interface. A few studies have shown that activity of collecting reagents at the gas–liquid interface may have deep influence on their collecting capacity and selectivity. Experimental researches have revealed correlation between surface pressure in a carboxylic acid film on liquid’s free surface and floatability of useful components (Kulkarni & Somasundaran, 1975; 1980; Quast, 2006). According to Quast (2006), it is not always that surface pressure of a reagent film influences collecting ability of carboxylic acid. For instance, pH range of adsorption of tetradecanoic acid on hematite does not coincide with pH range of high surface pressure. So, surface properties of this acid contribute little to flotation efficiency.The correlation between reagent film surface pressure and mineral floatability has been reveled for quartz and cationic reagents, too (Bleier, Goddard, & Kulkarni, 1977). Finch & Smith (1973) showed that combination of adsorption of ion–molecular amine complexes on mineral surface and high surface tension of “fresh bubbles” was favorable for flotation performance. The use of bubbles with reduced surface tension resulted in a decrease in quartz floatability."

Jan 1, 2016

By D. W. Euler, D. G. Brophey

"In an attempt to address the issue of rising labour costs, and to improve productivity, a laser-based system to guide underground LHDs and trucks has been developed. This comprehensive system is known as the Opti-Trak system.Essentially, the vehicle is equipped with front and rear-mounted lasers which scan a reference strip mounted on the drift back. The vehicle follows this reference strip and in addition, based on reflective bar codes mounted beside the reference strip, initiates certain functions (i.e. dump cycle, speed change, brake check, etc.). Any programming that is drift-specific is handled by the positioning of the reference strips and bar codes. Consequently, the vehicle can easily travel to many different haulageways or branches, providing the reference strip and bar codes are in place.The advantages of this system are an immediate elimination of haulage operator costs and an increase in available hauling time to 7 hours out of an 8-hour shift as compared to the typical 5Y2 out of 8 hours that a manned haulage system offers.This paper describes the Opti-Trak system and the benefits to be realized from automation of mine haulage requirements."

Jan 1, 1994

By Jonathan Matthews

Efficient and effective management of mine tailings is essential for continued successful development of Alberta?s vast oil sands resources. Syncrude Canada Ltd. continues to research novel tailings management techniques in an effort to improve production efficiency and environmental sustainability. During the summer months of 2001, Syncrude Canada Ltd., in collaboration with members of the Canadian Oil Sands Network for Research and Development (CONRAD), conducted field-scale trials of thickened tailings technology at Syncrude?s Aurora mine, north of Fort McMurray, Alberta. This paper provides an overview of the test program including discussion of objectives, test configuration, and program observations. 0Data collected during the field trial indicate that substantial swings in feed slurry composition challenge effective thickener operation. When coarse mineral solids dominated slurry composition, thickener rake torque rose to unmanageable levels. It was determined that the end-of-pipe depositional characteristics of thickened oil sands slurry were generally consistent with present understanding of oil sands tailings slurries. After shear, thickener underflow product exhibited very shallow beach angles and a limited capacity to keep coarser particles in suspension indicating that stacking of ?paste-like? thickener underflow product from a conventional thickener is not practical in an oil sands setting unless process adjustments can be made to increase the underflow density and/or preserve the initial high yield stress of the underflow during transport and deposition. These technical challenges notwithstanding, Thickened Tailings technology offers considerable promise for recovery of warm water from oil sands process tailings.

May 1, 2003

By W. G. Worcester

IN the presentation of this paper to the Institute, three objects are in the mind of the writer: first, to set forth the close relation which, of necessity, exists between ceramics and the industrial minerals; second, to clarify the apparently hazy understanding which many have of ceramics in general; and lastly, of equal or even more importance, to stimulate a greater interest in the industrial minerals, especially in those used and required by the ceramic industries. While Canada is now producing in large quantities a fairly wide variety of the ceramic industrial minerals, there are some which are not known to occur in the Dominion. Hence it is to be desired that our geologists, prospectors, and others, while on field work, should be on the look out for commercial deposits of such minerals as diaspore, bauxite, ucts of a value in excess of $600,000,000, a figure which places ceramics as kyanite, massive topaz, and sillimanite. A find of any of these in quantity would prove of very great importance and value to the country as a whole. At this point it seems desirable to introduce formally the word ceramic or the plural of it, ceramics. In doing so it may be stated that the origin of the word dates far back in history in that it was derived in part from the Greek word Keramos, 'a potter' or 'pottery', which in turn has been traced back to an older Sanskrit root meaning 'to burn' or 'burned stuff', having reference, no doubt, to burned pottery or other clay wares; and the word was so used until near the close of the last century, when the world's first schools of ceramic engineering were established in the United States. The use of the term ceramics was then expanded to cover a much larger field the entire field of the silicate industries and products. At one time it was suggested by a limited number of ceramists that the term 'ceramic engineering' be changed to 'silicate engineering'. This proposal, however, gained little support and was soon abandoned.

Jan 1, 1945

By A R. Bullis

Metal Mines Limited (Bancroft Division) was incorporated m 1964 to take over the assets of Faraday Uranium Mines Ltd., including their uranium deposit near Bancroft. Ontario. This paper outlines the geology of the Bancroft area, and. then go on to describe the principle rock types m the mine workings, especially the pegmatite, which is the host rock for the uranium mineralization. The structure and mineralogy of the orebodies are thoroughly covered, and, after a summary of the production and ore re-serve figures, the paper concludes with suggestions for further exploration work. Location and History M ETAL Mines Limited, Bancroft Division, is located in Faraday township, Hastings county, Ontario. The main production shaft and concentrator are about: Y2 mile north of Highway 28 and about 5 miles west of the village of Bancroft (Figure 1). The presence of radioactive minerals in the Ban-croft-Wilberforce area has been known since the early 1920's. Uraninite was found at the Richardson deposit near Wilberforce in 1922, and some attempts were made to produce radium from the deposits of the area between 1929 and 1931.

Jan 1, 1965

By Charles Amoah

Abosso Goldfields Limited has been optimizing the comminution circuit at the Damang Mine Operation for the treatment of 100% primary ore. The optimization process started at a base rate of 343 tph when treating primary crushed primary ore, and was increased to above 600 tph with partially crushed primary ore. Abosso Goldfields engaged Orway Mineral Consultants (OMC) to assist with the optimization process in 2009 and the two companies have been working together since, to further refine the process. Continuous improvement was achieved through crushing circuit modifications, changes in operating processes and grinding control system utilization. This paper discusses the improvements developed for the increase in milling capacity and improvements in final product size.

Jan 1, 2012

By G. M. Hutt

Introduction The major development of industrial minerals in Manitoba has been in building materials. 'The building-stone industry is developed far beyond the needs of the Province, and the well known Tyndall limestone is marketed over a wide area throughout the other provinces to Canada. Similarly, gypsum and gypsum products are produced in excess of local requirements and are exported to adjacent provinces. The crushed-stone, sand and gravel, limestone, and lime industries are sufficiently developed to supply the needs of the Province and, notably in the case of lime and lime-stone, there is a surplus for export to the adjacent provinces and to the United States. The manufacture of common brick is well established, but for face-brick and other clay products the Province is dependent largely on importations. Production of silica-sand will increase as Canadian markets become available through recognition of the utility value of the Black Island sand as foundry-sand and for other purposes. There is some possibility of the export of feldspar, of lithium ore and concentrates, and perhaps of salt. A considerable part of the Province has not been seriously prospected for industrial minerals and it may be expected that, as time goes on, other deposits of non-metallic minerals will be discovered and opened up, especially as the prairie provinces become more industrialized. At the present time, there is some activity in the southern part of the Province based on gas and oil indications. Whatever may be the outcome of this work, it should yield valuable information concerning the geological structure of the area.

Jan 1, 1934

By T. R. Chari

The safe-level dilution of low-level radioactive wastes in large volumes of selected granular material is proposed as an alternative method of permanent waste disposal to current Canadian practice of concentration and encapsulation. Accepting the fact that a "background level" of radioactivity exists throughout the world, the authors feel that the concept of controlled dilution of radioactive wastes to a level in keeping with "background" is a plausible alternative to current thinking on the subject and is worthy of equal consideration.

Jan 1, 1979

"Option pricing is used in finance for valuing options to buy (or sell) shares at some future date because it provides a convenient framework for quantifying values subject to uncertainty. As one of the main sources of uncertainty in mining is the price (sales) of the metal, this approach can also be used for valuing mining projects.The first part of this paper reviews options and option pricing; the second part presents the approach developed by Brennan and Schwartz (1985) for using option pricing to value natural resources. Several applications of this methodology have been published; these are described. From a mining point of view, the assumptions made by Brennan and Schwartz are too simplistic. The weaknesses are discussed with a view to improving an apparently promising new way of assessing the value of projects. IntroductionThe collapse of the British merchant banking group, Barings, has highlighted the risks that can be incurred by speculators and arbitragers in the futures and options markets. But this negative attention on futures and options should not make us forget their positive aspects. They can provide producers and consumers of metals with more predictable sales prices. The introduction of the new traded average price options, TAPOS, by the London Metal Exchange in January 1997 is a response to this need. Equally important, the theory that the finance industry has developed for valuing options provides an interesting framework for valuing mineral projects as well. While this paper was being revised, the South African gold mining house, JCI, announced that it was using a methodology based on option pricing for valuing the mineral rights to deeplevel gold resources (see Box 1)."

Jan 1, 1997