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By Eddy Dénommé, Deni Villeneuve

"Niobec mine, a producer of pyrochlore concentrates since 1976, became a producer of ferroniobium in 1994 and achieved accreditation to the ISO 9002 standard in 1995. The goal of ISO 9002 is to ensure that the products supplied to clients regularly meet their specifications, through explicit work standards and procedures throughout the production process, from deposit appraisal to ferroniobium production.A key element of ISO 9002 implementation at Niobec consists of the quality control procedures applied to the raw materials: the ore fed to the mill and the pyrochlore concentrate fed to the reduction plant. These controls extend from exploration, deposit appraisal, mine planning and reserves estimation, mining, mineral processing and, finally, ferroniobium production. The implementation of ISO 9002 has allowed more efficient control of the quality of the final product sold to clients. It requires interactive team work, the role of the geologist being to relate all information pertaining to raw material and product quality to the geological framework of the deposits."

Jan 1, 1997

By H. P. Kang, Y. J. Feng

The hard roof in underground coal mines is generally considered as a main cause that induces disasters in working faces and entries, such as rock burst and windblast. Hydraulic fracturing technology is an effective approach to weaken hard roof to reduce ground pressure and control rock burst. The state and achievements associated with hydraulic fracturing technology applied in Chinese coal mines are summarized in this paper. Theories related to hydraulic fracturing are of the essence in fracture design to determine the fracture initiation and propagation pressure and predict the geometry and the characteristics of hydraulically induced fractures. Initially, theory of elasticity was employed to determine the breakdown pressure for a vertical borehole where the rock medium is assumed to be elastic. However, porosity and pore fluid have an influence on the borehole breakdown pressure, and then the poroelasticity theory was applied. Arbitrary deviated boreholes in practice are rather common and the maximum tensile stress criterion was employed to determine borehole breakdown pressure. The effect of natural crack in the rock medium on the initiation pressure has been taken into consideration through fracture mechanics. Meanwhile, considerable achievements have been made on hydraulic fracturing tools and equipment, and a set of mature hydraulic fracturing technologies for hard roof control are available. Some comprehensive investigations on the hydraulic fracturing for hard roof weakening are presented, and successful field applications in the Jincheng and Luan coal mining districts are introduced. Finally, the unsolved problems related to hydraulic fracturing are also put forward.

Jan 1, 2015

By Link. Theo A.

Introduction Since the discovery of a major oil pool at Leduc, Alberta, on February 13th, 1947, the long spell of 'oil drought' in Western Canada is now being turned into an oil and gas flood which requires immediate action to obtain the optimum economic benefits. The Woodbend, Section 9, and Okalta extensions of the Leduc field itself have been established; the Redwater pool, lying thirty-seven miles northeast of Edmonton, has been discovered and is being drilled up, and the Imperial Schoepp No. 1 or Golden Spike discovery holds promise of something phenomenal in view of the 500 feet of oil-saturated coral-reef porosity whose areal extent is not known. Imperial Stanolind Barrhead No. 1, northwest of Edmonton, revealed the presence of oil in the Madison, and just recently Gulf N.J. Ellis No. 1, some sixty miles southeast of Leduc, found commercial production in the Leduc D-2 discovery zone. In addition to these Paloeozoic discoveries, gas and oil reserves have also been established in the Upper and Lower Cretaceous, which must be penetrated by all tests on the way through the geological column to the Devonian. If ever there appeared to be an index of 'things to come' in the oil industry, this is it. However, without these recent discoveries the picture in Western Canada does and always did, look very promising indeed. A brief survey of the geological setting in Western Canada is the object of this contribution.

Jan 1, 1949

By J. T. Kalala

The High Pressure Grinding Roll (HPGR) is gaining acceptance in the mineral processing industry and has become a competitive technology in reducing the specific energy consumption in Mineral processing plants. The amount of samples required for HPGR amenability testwork and HPGR wear tests is usually high and often cannot be available at early stage of projects were only a few drill cores are available. Although HPGR was initiated from small scale piston die compression tests, the development of small scale piston die test to predict the performance of HPGR has been slow. The objectives of this paper was to present the designs, operating procedure of piston-die press and operating conditions which have resulted in similar particle size distribution obtained from a piston die test and HPGR Labwal unit starting from the same feed size distribution. Testwork were conducted using a 2 MN piston-die press and a Labwal HPGR unit on major South African ore types, viz, gold, platinum and iron ores. The results obtained show that piston-die test can generate data to predict energy consumption, product size distribution, and even to evaluate the edge effect.

Jan 1, 2012

The primary steel industry of the Prairie Provinces consists essentially of three companies whose total annual melting capacity, as of January 1, 1963, was 333,000 net tons. These companies have steel rolling facilities. In addition, there are five other companies producing steel castings by melting scrap in electric furnaces which, with the plants having rolling facilities, gives a total annual furnace melting capacity of 380,000 tons. Since 1954, the annual production of steel ingots and castings has ranged from a low of 66,588 tons, in 1954, to a high of 211,138 tons in 1961. The present facilities on the Prairies for making steel ingots from scrap, and rolling them to produce light merchant mill products, appear to be sufficient for many years ahead. Steel scrap, as electric furnace feed to make steel ingots for the present line of products, will probably continue to be available at reasonable prices either on the Prairies or from the north-central United States. It is recognized, however, that residual elements in scrap may be-come of greater significance and necessitate more rigid control of scrap quality.

Jan 1, 1963

By Lawrence Nordell

A Conjugate Anvil-Hammer Mill (CAHM) has the potential to replace conventional crushers and SAG mills, with their respective conveyors and stockpiles, in a SABC circuit. It may improve comminution circuit efficiency by 100%. CAHM compresses rock in a more efficient way, similar to 19th century stamp mills, which follows the fundamental research of Schönert (1990 & 1996). CAHM efficiency is being proven through the use of ROCKY (2011) Discrete Element Method (DEM). ROCKY features allow it to simulate realistic comminution. CAHM is customizable with many geometries that are rock-property specific. ROCKY?s wear modeling compliments the structural integrity of the design.

Jan 1, 2012

By D. Cronin, A. Plumtree, A. Hosseini

"Crack in corrosion (CIC) linepipe defects are hybrid defects not directly addressed by existing assessment methods. To investigate the collapse pressure of these defects, CIC defects were formed in 508 mm (20 in) diameter, 5.7 mm thick API X52 linepipe. These defects were 200mm long and varied in depth from 3.0 to 3.8 mm. The respective failure pressures decreased from 14.3 MPa for the plain pipe to 7.9 and 6.2 MPa respectively. A standard FAD method was applied to evaluate these defects as equivalent length and depth cracks, predicting the rupture pressure conservatively by 18% on average. However, when assessed as equivalent cracks with a reduced wall thickness corresponding to the corrosion depth, the predicted collapse pressures were more accurate, approximately 14% conservative on average.INTRODUCTIONPipelines are a safe and efficient method for transporting high volumes of oil and gas. However, aging pipelines may experience defects, such as cracks or corrosion. Present approaches include detection, assessment and repair of defects before they may become critical to the integrity of the line. There are different codes and standards for assessing pipeline defects, depending on the type of defect, with API 579 (API, 2000) being the most common code for the assessment of cracks in oil and gas pipelines . Corrosion is commonly assessed using RSTRENG (Kiefner & Vieth, 1989). Other methods such as the Finite Element method and the CPS method (Cronin & Pick, 2002) may be used for crack and corrosion, respectively.At present, there is no specific method or procedure for assessing crack in corrosion (CIC) defects, and as a consequence there is a need to provide an assessment and evaluation of the integrity of these defects in order to determine the requirements for defect repair or hydro line testing. Hence, the goal of this study was to provide guidance for the assessment of CIC defects for linepipe.CRACK IN CORROSION DEFECTS (CIC)Significant amounts of corrosion and cracking are not generally found together (Hosseini, 2010). However, a new hybrid defect including cracking within corrosion (CIC) has been identified in operating pipelines. In this case, cracking coincident with corrosion (schematic shown in Figure 1) provides the motivation for the current study."

Jan 1, 2012

By Lifeng Yang, Xiang Zhang, Liang Yuan, Yonghui Wang, Bing Hou, Mian Chen, Rixing Zhang

Large-scale hydraulic fracturing technique has been widely applied to the development of shale gas reservoirs, where the interaction between natural fractures and critical fracture zones has substantial impact on the propagation of hydraulic fractures. Therefore, it is of significant importance to understand and experimentally verify such mechanism. To reach this end, tri-axial fracturing tests were implemented on 400mm×400mm×400mm block samples collected from Longmaxi shale outcrops. The interplay between hydraulic and natural fractures was investigated during the tests, factoring in the role of pump rate in affecting the created fracture network. Based on the experimental results, the critical fracture zone, defined as the weak formation zone nearby the wellbore created by staged pressure implementation that is observed rapid fracture propagation upon next stage of pressure increase, was thoroughly investigated. The analysis illustrates that given the high brittleness of the shale formation, abundant critical fracture zones are generated around natural fractures with pressure building up at a relatively low pump rate. As the pump rate increases, hydraulic fractures initiate and come into play with critical fracture zones, implying emergence of a large number of micro-cracks. A changing pump rate modifies the way of interaction between hydraulic and natural fractures and the subsequent formation of fracture network. Long term fracturing fluid injection with relatively low pump rate below the activation of critical zones is suggested. Also proposed is appropriate timing when applying a specific pump rate that will contribute to the improvement of hydraulic fracture propagation.

Jan 1, 2015

By H. A. Pearse

The history of the flotation process, as applied to the practical field of ore dressing, dates back somewhat less than twenty years; yet this fact may be overlooked in view of the present universal dependence on this process in the concentration of almost all classes of ore. It is therefore interesting to recall that Britannia was the scene of some of the earliest experiments with flotation on a commercial scale. In 1911, sixteen years ago, an Elmore vacuum machine was operated for several months with encouraging results. In 1913, some time before flotation was very generally adopted elsewhere, a Minerals Separation plant, capable of treating 600 tons daily, was operating successfully at Britannia. Considering how little was known of the theory and practice of flotation at that time, the recovery was remarkably good, but it was not until the present mill was completed in 1923 that any attempt was made to raise the concentrate grade by differential flotation, or, in other words, to float the chalcopyrite while rejecting the then worthless pyrite with the tailings. The first ore passed through the present concentrator in March, 1923. As originally designed, the rated capacity was for 2,000-2,500 tons, but this has been increased year by year, until at the present time 4,000 tons daily can be treated economically. During the first few months of operation the concentrate grade averaged only 10-11 per cent Cu, but by the end of 1923 this had been raised to over 20 per cent, due to the elimination of the pyrite by differential flotation. In 1923 the tailings averaged approximately 0.25 per cent Cu, but also in the matter of recovery a considerable improvement has been effected, for during the year 1926 an average tailing of 0.15 per cent Cu was maintained.

Jan 1, 1927

By A. A. de Gast, R. B. James

"The metal content of ore blocks can be calculated by the use of many different methods. These methods range in sophistication from manual calculation to computer. oriented techniques. In this case a cubic polynomial regression model is developed to depict the grade distribution of an orebody. Mine production, in stope dimensions, is then simulated on a computer to predict the output of metal content. The volume, grade and variance of the grade are estimated by triple integration and matrix algebra. A case study shows reasonable agreement between the results from the mathematical model and the mine geologists' estimate of production and ore reserve grade and tonnage."

Jan 1, 1972

By A. D. Misener

Introduction Temperature gradients have been determined for numerous locations in the Canadian Shield in connection with mining operations (1, 2, 12, 13, 14, 15). As part of a programme of geophysical studies of this region, some of these gradients were re-determined by the writer at locations where other thermal properties, specific heat, thermal conductivity, radioactivity, etc., were also to be measured. The ultimate object was to determine the heat flow to the surface at these locations. It was felt that the practice of determining heat flow from the temperatures and conductivities obtained in a single vertical bore hole (3, 4, 5, 6, 7, 8, 9) might give results which were appreciably divergent from the average for a considerable area. Particularly, it was thought that temperature gradients, whether obtained in a single vertical hole or from a number of random locations at various depths in a mine, might be subject to local variations and anomalies serious enough to render unsure any discussions based on them. The procedure followed in this investigation was to select a location where mine workings extended to considerable depth over a reasonably wide area. At selected depths below surface, horizontal drill holes extending into regions of undisturbed rock were located and resistance thermometers were inserted into these holes far enough to record the true rock temperature. An attempt was made to obtain a sufficient number of readings at or near any one level to give a representative coverage of the area selected. This ideal could not always be attained, but the large number of readings obtained for each are a does give a reasonably representative picture of the temperature conditions. These readings required much rime and movement of men and equipment underground . They could not have been obtained without the wholehearted co-operation of the management and considerable assistance from the personnel of the mines concerned.

Jan 1, 1949

By T. M. Korzekwa, R. L. Cavanagh

Following considerable experience with the beneficiation of Wabana iron ore by standard methods, a study was made of the benefits to be obtained by semi-reduction. The basis of the laboratory program was an extensive mineralogical and liberation investigation which guided subsequent work. Partial reduction and beneficiation on a laboratory scale was carried out on lump ore and fines. The reduced ore was magnetically concentrated and the concentrated fines were briquetted. Data are presented on reducibility, sizing vs reduction rate, magnetic cobbing and separation, and the elimination of phosphorus. Past work is reviewed briefly and comments are made on the relation of laboratory to pilot-scale tests.

Jan 1, 1967

By Victor F. Hollister, Robert W. Hodder

"The petrology and mineralogy of porphyry copper deposits are thoroughly described in recent literature and cited as the definitive characteristics for this type of deposit. The magmatic-hydrothermal aspect of genesis is also dealt with in detail. However, descriptions of their internal structure and regional setting are not as rigorous, and the genesis of this structure is simply stated as the release of high fluid pressures in a cooling magma emplaced along large fault zones. Genetic relationships between internal structure, regional setting and the tectonic evolution of continents has been alluded to infrequently in the past, but can now be considered together within the developing concept of orogeny at the margins of drifting crustal plates.Tensional structures, on both local and regional scale, and a Triassic to Tertiary age are described for porphyry copper deposits. We contend that such structure and age are distinct and unifying characteristics for this type of deposit and are genetically related to major crustal movements. British Columbia has porphyry copper deposits contemporaneous with plutons 180 to 200 million years old and 40 to 60 million years old. The former age group correlates with early stages of the continent's westward drift, and the latter group with a change in tectonic style during late development of the Canadian Cordillera. Hence, one can in British Columbia reflect on the genesis of a deposit's structure in the broader context of tectonic evolution. Such consideration should lead to more definitive criteria for area selection in exploration."

Jan 1, 1972

By David R. Lentz

Abstract -At True Hill in southwestern New Brunswick, low-grade porphyry-style Bi-Sn-Mo greisen mineralization is associated with the cupola of an epizonal granite porphyry (granite) that also exhibits three episodes of brecciation. The first episode of brecciation is an in situ, 8 m to 10 m wide transitional zone of net-veined to coarse-grained "blocky" endogranitic mesobreccia that is chloritized and greisenized and hosts weak disseminated mineralization. ln a zone doser to the host rock­ granite contact, angular fine- to coarse-grained endogranitic mesobreccia with greisenized matrix is superimposed on the earlier transitional breccia. The latest episode is fault-controlled and consists of quartz- and chalcedony-hosted subangular to rounded fine-grained "pebble" mesobreccias that crosscut and brecciate the other breccia types, as well as the adjacent altered metasedimentary country rocks. The first two episodes of brecciation are magrnatic-hydrothermal in origin related to hydrofracturing of the granite carapace and are accompanied by greisenization and mineralization, whereas the post-mineralization, silica-hosted, "pebble" mesobreccias related to hydromagrnatic, low­ temperature fluid circulation and/or boiling along faults near the contact. These magmatic­ hydrothermal and hydromagmatic mesobreccias are similar to those associated with W-Mo-Bi porphyry-greisen mineralization at the Mount Pleasant deposit.

Jan 1, 1994

By Jaeheon Lee, Junmo Ahn, Doyun Shin

"Many alternative leaching systems including bacterial leaching have been introduced to avoid passivation on the surface of chalcopyrite and to increase the leaching efficiency of copper from chalcopyrite. Recently, glycine, one of the simplest amino acids, has been emerging as an efficient and environmental-friendly lixiviant to recover copper. In the present study, an alkaline glycine–peroxide lixiviant system was used to leach copper from chalcopyrite concentrate and the leaching mechanisms were also investigated by a suite of kinetic studies under different conditions. The chalcopyrite concentrate contains 28.8% copper with 30.8% sulfide sulfur. The effect of concentration of glycine and hydrogen peroxide of the leaching solution was investigated. Glycine concentration was varied from 0.5 to 1.0 M and the hydrogen peroxide concentration was changed between 3 to 5%. Leaching time and pulp density were also varied. Hydrogen peroxide is an oxidant of the system and the leaching efficiency with periodic additions of the peroxide was also studied. A mineralogical study was performed using XRD and SEM. To investigate the surface of the residue materials, XPS was used to see if any passivating layer was formed during the leaching. Detailed results from mineralogical, chemical, and metallurgical studies will be presented and discussed.INTRODUCTION The greatest global resource of copper is low-grade chalcopyrite and heap bioleaching may be the only economic option for its processing. However, formation of a passivating layer on the surface of chalcopyrite slows down the oxidation reaction and reduces the efficiency of the process."

Jan 1, 2017

By D. Haraguchi, S. Izawa, C. Tokoro, S. Owada

"Arsenic is widely known as a toxic element for humans, animals and plants. Because of more stringent wastewater standards not only in Japan but also around the world, research for appropriate and efficient treatment method for arsenic is becoming increasingly important. Coprecipitation or adsorption process using ferrihydrite is widely implemented for dilute As(V) removal from wastewater. In this study, the sorption mechanism of dilute As(V) with ferrihydrite in coprecipitation or adsorption process was investigated. To accomplish this, we conducted batch experiments of coprecipitation or adsorption and compared these results for sorption isotherm and zeta potential. These experimental results showed that sorption mechanism in coprecipitation process depends on the initial As/Fe molar ratio; simple twodimensional adsorption onto the surface of ferrihydrite when the initial As/Fe molar ratio was < 0.4, and some three-dimensional uptake with ferrihydrite when it was = 0.4. We also evaluated the sorption mechanim by analysis of X-ray diffraction (XRD) and X-ray Absorption Fine Structure (XAFS). XRD or XAFS spectra showed that surface precipitation of amorphous ferric arsenate was formed when the initial as/Fe molar ratio was = 0.4, beyond the thermodynamic bulk precipitation range for ferric arsenate.INTRODUCTIONArsenic is toxic to animals, including humans, and long-term exposure to arsenic via drinkingwater causes cancer of the skin, lungs, urinary bladder, and kidneys, as well as other effects on the skin such as changes in pigmentation and thickening (Ghosha et al., 2008). Elevated levels of arsenic are often present in the environment as a result of the weathering and dissolution of minerals as well as in response to numerous anthropogenic sources including the discharge of mine wastes, coal fly ash and the use of pesticides that contain arsenic (Nriagu, 1994; Singh et al., 2007). Indeed, the potential for arsenic exposure affects many people, as evidenced by several million people in Bangladesh and India being at risk of exposure via drinking water obtained from contaminated groundwater sources (Ahmed, 2001).Acid mine drainage (AMD) containing arsenic is a global environmental problem (Dold, 2008; Liang and Thomson, 2008) that also affects Japan, which has many abandoned or closed mines that have been generating AMD for the last few decades (Masuda et al., 2008). Several such facilities in Japan produce AMD containing dilute concentrations of arsenic that exceed Japanese effluent standards (0.1 mg/dm3) (METI, 2006). For example, AMD from the abandoned Horobetsu sulfur mine, the largest AMD source in Japan, contains approximately 10 mg/dm3 arsenic."

Jan 1, 2012

By T. A. Rickard

FROM AN OLD MANUSCRIPT THE text for this contribution to the history of the Patio process is a page taken from a Spanish manuscript of Bartholomé Arzaj Sanches y Uela, now in the possession of the library of Brown University (see Figure 1). I owe the photographic print to the courtesy of the librarian. The date, as will be seen, is 1577. The subject is the treatment of silver ores at Potosi, in old Peru, but in modern Bolivia. The group of drawings (see Figure 1) is entitled "Arrangement of the machines in which the ores of silver are ground on the bank of Potosi, the one of two batteries and the other of one". First, top-left, we have the sketch of a "machine of one battery" operated by a water-wheel. From this mill the water runs in part along an aqueduct supported by pillars to the two-battery mill and in part down the hillside, where men are at work with "tubs, which are called cochas, in which are washed the charges of ore and amalgam". Along the top of the page are shown the "various offices in which are stored the copper, the salt, the ucha [llama dung, used for fuel], the lime, and other materials for the re-duction of the ores". To the right of these are "apartments and warehouses in which is stored the ore brought down from the mountain"?the cerro de Potosi. Through the arched portal come the "sheep [llamas] on which is brought down the ore". To this is added a reference to "the second gate, which closes the whole works". On the level above the aqueduct are seen six men carrying skin-bags that contain water. This is being sprinkled on the ore. On the extreme right are six more of these water-carriers. Next comes the two-battery mill. The mortero, or mortar, is marked on the right. Another description says, "Stone, on which the stamps crush the ore, which is called a mortar". To the left of these are indicated "screens of wire in which the ore is sifted after it has been crushed". Farther to the left, near the ore-washers, is a "shed, in which is placed the metallurgist to test the ore of the boxes". Along the left side of the page are sundry buildings, one of which is labelled a "shed in which are placed the cones of silver". Near it, lower, to the right, is the "furnace, in which are roasted the sulphides to facilitate treatment". Farther to the right is the "place where the Indians mix the charges of sulphide ore, which is called a buitron". Alongside is a "buitron in which the charges are prepared for reduction". Inside is a container, to which are attached the words "measure, called topo" On the extreme right is "another buitron in which the Indians mix the ores with their feet, as well as the heaps for the preparation of the reduction". Near the bottom, on the extreme left, is the "chapel where the holy sacri¬fice of the mass is celebrated". Under the first buitron is the "place where they dry the moist ores, called pãpear".

Jan 1, 1935

By J. Lee

As the usage of BIM increased in the construction industry, some construction owners started exploring the use of BIM for maintaining their facilities. Construction Operations Building Information Exchange (COBIE), a spreadsheet data format suggested in 2007 to manipulate building information, is considered as one of the solutions that would facilitate the process of transferring information from BIM to applications for facilities management. Several BIM and Computer Aided Facilities Management (CAFM) applications offer functions to export or import the COBIE data. To facilitate the process of generating the COBIE data out of Building Information Model, some add-in applications, such as COBIE Toolkit for Revit, also were developed. However, most of these applications handle a limited amount of COBIE data. Professionals using these add-in applications therefore sometimes end up spending a significant amount of time to add additional data manually to the COBIE data file. To automatically get a data-rich COBIE file, we developed a prototype application that extracts information from Revit, which is one of the BIM authoring tools, stores them in an external database, and then produces the COBIE file using information stored in the database. We applied our application to a pilot project and produced 8 COBIE worksheets automatically, which demonstrated a significant amount of time saving. This paper presents how our prototype application produces 8 COBIE data sets automatically. It also addresses our attempt to handle more COBIE data sets.

Aug 1, 2013

By L. Li, K. Jiang

China is the world largest producer and consumer of zinc. Beijing General Research Institute of Mining and Metallurgy (BGRIMM) is one of major research and engineering institutes for nonferrous metallurgy in China. This paper (presentation) introduces the development of China’s zinc smelting industry, key production processes and main producers. The process research and development are reviewed as well as BGRIMM’s R&D activities in the last decade. China&apos;s refined zinc production was 4,829kt in 2012, accounting for 38.6% of world production. Primary production was 4,722kt. There are around 150 refined zinc producers in China. The traditional fluid bed roasting - leaching jarosite is still a dominant process for primary production and its production accounts for about 60% of country&apos;s total production. However, the direct leaching process is gaining market share. Seven direct leaching plants with 330kt/a capacity, including autoclave leaching and the Outotec direct leaching, have been put into production by June 2013. Five autoclave leaching projects with 590kt/a capacity are in the pipe line and are expected to be commissioned in 2014 and 2015. To cut the production cost and improve smelter economics, process research to optimize the production flow sheet, to improve the iron removal and to enhance the recovery of co-existed rare metals were carried out. The development trends of China’s zinc smelting industry from the view of cutting production cost, improving energy efficiency, increasing comprehensive utilization are discussed accordingly.

Jan 1, 2014

By William E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential.INTRODUCTIONThe purpose of this paper is to describe a cost approach to the valuation of mineral exploration properties and to provide some valuation examples. The particular cost approach described is the Appraised Value Method, which is best applied to mineral properties at the exploration stage.At present there are no comprehensive regulations or guidelines in Canada which specify what approaches and methods to use for the valuation of mineral properties. In this paper, the Appraised Value Method described is one method that the writer considers to be accepted industry practice for mineral properties at the exploration stage.Mineral properties are valued for a number of reasons, including mergers and acquisitions, non arm's length transactions, pricing of initial public offering of stock, support for property agreements, litigation, expropriation, and insurance claims."

Jan 1, 2003