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By Noel Brien, O&apos

General: National Asbestos Mines Limited has operated an asbestos mine and mill near Thetford Mines, Quebec, since 1958. As a result of additional exploration of the orebody in 1962-63, it became apparent that long-range mining plans would have to be revised to allow for a large increase in both ore and waste tonnages. It was decided that the task of checking out possible mine designs could best be analyzed by a computer to obtain data from which an optimum open-pit configuration could be plotted. Object: It was desired to arrive at an optimum open-pit configuration with an over-all pit slope of 45 degrees and a minimum operational width of 200 ft. at the bottom. Calculations were based on assay values from diamond drill holes in cross sections of the mine. The computer's assignment was to select and describe, by coordinates, the optimum cross section for the mine. Mine engineers then assembled the various optimum sections to produce the pit outline. As this would not necessarily result in a practical mining arrangement, the computer also provided alternate solutions,

Jan 1, 1965

By W. J. Kuit

Since closure in 1968, the Wedge Mine, situated adjacent to the Nepisiguit River in New Brunswick, has been flooding with acidic water containing toxic levels of heavy metals. Cominco Ltd. has undertaken a series of pollution control measures to mitigate the threat posed to the river quality. Included has been a successful treatment campaign in 1976 which discharged in excess of 30 million gallons of high-quality effluent from the accumulated volume of mine water. The sources of contamination have been identified as actively leaching waste dumps. A comprehensive program of permanent corrective measures has been prepared which will culminate in mine backfilling. Once completed, the unacceptable burden of water treatment in perpetuity at a non-producing property will be removed.

Jan 1, 1977

By J. M. Ortiz, J. P. Bertini

"In mineral resource and ore reserve estimation, several sources of information are generally available, such as diamond drillholes, reversed-circulation drillholes, and blastholes, and originate from one or more sampling campaigns and are analyzed by one or more laboratories. In such a situation, the grade measurements may not have the same precision and one should distinguish between hard and imprecise data.This work aims at studying the impact of data imprecision in resource/reserve evaluation through two case studies on simulated deposits: a porphyry copper deposit conditioned to real exploration and production data, and a gold deposit simulated without any conditioning data. Several geostatistical techniques are used to estimate the grades of selective mining units from exploration samples, including kriging, cokriging, lognormal and indicator kriging. Two types of imprecision are examined— measurements with multiplicative errors and measurements defined as intervals. The results are compared to the simulated grades of the selective mining units from a statistical and economic viewpoint.The study concludes that imprecise measurements should never be discarded because they help to improve the estimates, and that simple methods such as kriging are as efficient as more sophisticated ones for resource/reserve assessment. Finally, a few indications on how to diagnose and model the data imprecision are given."

Jan 1, 2005

By P. Babak, E. Insalaco, O. Babak, P. Henriquel

"Detection of outliers is an important primary step in geomodelling. Geological datasets often contain errors due to problems such as measurement device limitations and recording glitches. In this paper, a robust Mahalanobis distance–based approach is successfully applied to particle size distributions of the Joslyn lease, an oil sands development site near Fort McMurray, Alberta, Canada. Automatic outlier detection and geological review were combined. Outliers from the Mahalanobis distance approach were compared with their respective core photographs to determine if laboratory measurements and facies classification were correct. A checking procedure for laboratory technicians is proposed.RÉSUMÉ La détection des valeurs aberrantes constitue une étape primaire importante de la modélisation géologique. Les ensembles de données géologiques contiennent souvent des erreurs en raison de problèmes tels que les limitations des instruments de mesure et des pépins d’enregistrement. Dans le présent article, une méthode robuste basée sur la distance de Mahalanobis a été mise en oeuvre avec succès aux granulométries du bail minier Joslyn, un site de sables bitumineux en développement à proximité de Fort McMurray, Alberta, Canada. La détection automatique des valeurs aberrantes a été combinée à une étude géologique. Les valeurs aberrantes de la méthode de la distance de Manalanobis ont été comparées avec leurs photographies respectives de carottes de forage afin de déterminer si les mesures en laboratoire et la classification des faciès étaient correctes. Une procédure de vérification pour les techniciens de laboratoire est proposée."

Jan 1, 2015

By Farzad Khodabakhshi, Adrian P. Gerlich

"Multi-pass friction stir processing (FSP) was performed to fabricate a new Al-Mg-Graphene nanocomposite. Microstructural developments and distribution of graphene were studied by using electron backscattering diffraction (EBSD) and transmission electron microscopy (TEM) analysis. In the stirred zone (SZ), grain structure was refined down to about 2 µm attributing to the operative dynamic restoration mechanisms and the locking effect of graphene phase. As a result, the yield strength of Al-Mg alloy was improved more than two times due to incorporation of graphene nano-sheets. Also, the indentation hardness resistance of nanocomposite was increased up to ~60%.INTRODUCTION Aluminum-matrix nanocomposites have garnered significant in recent years due to their superior performance and potential advantages for several industrial applications including the automotive and aerospace sectors. Among various reinforcing nano-materials, carbon-based structures featuring sp2 or sp3 hybridization bonds have been found to offer considerably improved physical and mechanical properties. Such carbon allotropes form at micro- and nano-scales including; graphite, carbon nano-tube (CNT), nano-fiber, and graphene. The potential of two-dimensional (2D) carbon materials was introduced in 2004, with the development of graphene as an alternate 2D allotropic form of the carbon structure with a honey-comb lattice at the atomic-scale. It has been shown that it is currently among the strongest materials ever tested with an intrinsic tensile strength of 130 GPa and Young’s modulus of 1000 GPa, and also offers unique thermal and electrical properties.To fabricate metal-matrix nanocomposites reinforced by graphene nano-sheets with typical metallurgical processing techniques, some attempts have been reported in the literature for various solid-state techniques including; hot rolling, mechanical alloying, and friction stir processing (FSP) of pre-cast plates or surface dispersed graphene oxides. The main challenge in those methods was to facilitate the considerable high temperature and pressure for attaining a uniform dispersion of the nano-sheets during the consolidation process. In most cases, significant difficulties have been reported in obtaining a uniform dispersion of graphene within the metal matrix. Among various techniques for production of metal-matrix nanocomposites, FSP has attracted significant attention as a method of surface modification since it was first reported by Mishra et al. In this process, a non-consumable rotating tool is plunged into the surface of material for the aim of microstructure modification. Extreme material plasticity is induced without melting as a result of friction between the tool and workpiece. Frictional heating and severe plastic deformation induced by the FSP process enables metal matrix nanocomposite fabrication by softening the base material and mechanical stirring to disperse the reinforcing nano-materials into the matrix."

Jan 1, 2017

By J. R. Gill

Introduction The property and plant of the Falconbridge Nickel Mines, Limited, is situated about 13 miles northeast from Sudbury, in Falconbridge township, near the eastern extremity of the southern Nickel Range. As early as 1899 or 1900 some work was clone on this property by the late Thos. A. Edison, when a shaft was sunk through 80 feet of overburden to within a few feet of the ore-body. At this point quicksand was encountered, which made it impossible to continue with the equipment at hand. As a result, the activities of the Edison party ceased in this section. There was no further progress until 1915 and 1916, when an extensive diamond-drilling campaign, carried out by the E. J. Longyear Company, located the ore-body that is now being worked. The property was acquired by the present operators in 1928, and in September of that year active mining development was commenced. Features Influencing Design Of Plant Early in 1929 plans were prepared for a smelter and the necessary crushing and sorting plant. In spite of the general trend towards the reverberatory furnace as a smelting unit, it was decided to erect a blast-furnace plant. The limited tonnage to be treated, of course, influenced this decision to a great extent. However, it was known that, with the proper procedure, extremely favourable results, both economic and metallurgical, could be obtained in blast furnace smelting. The possibility of very low slag losses, the simplicity of operation by the elimination of roasting plant, fuel plant, etc., the ability to handle coarse feed, and the lower initial cost, were considered factors in favour of the blast furnace. Notwithstanding the fact that we might be called on to treat a certain amount of concentrate, it appeared that the blast furnace was the proper unit for the contemplated operation.

Jan 1, 1932

By D. F. Zhang, X. Q. Jiang, N. Tahreen, D. L. Chen, F. S. Pan, D. Y. Li

Alloying with rare-earth elements has been proven to be an important tool for magnesium to achieve superior properties via texture randomization. The role of yttrium in texture weakening and the link between texture and formability are fairly well known. Since annealing is a vital part of metal processing which could significantly contribute to ductility, it is important to ascertain the impact of annealing in terms of texture change. Also, an understanding about texture development during pre- and post-deformation annealing is essential to improve the industrial deformation processing as texture is closely related to formability. While there is independent information in the literature regarding the effect of rare-earth addition and heat treatment on the texture formation, no systematic studies have been reported on the collective impact of yttrium addition, annealing and deformation on texture evolution. The present study was, therefore, aimed to identify the inter-relationship among texture evolution, yttrium content, heat treatment and deformation behavior in an extruded Mg-Zn-Mn-Y alloy. Annealing at 450°C for 1 hour and uniaxial compression tests at a certain amount of deformation were performed. The deformed and annealed samples were then subjected to annealing and compression test, respectively, followed by texture measurements. It was observed that yttrium addition effectively weakened the crystallographic texture in all conditions, which was evident from the changes in the microstructures and textures.

Jan 1, 2015

By Linlin Zhang

Rare earth elements (REEs) are a group of lanthanides elements which have been widely used in the electronic, petrochemistry, metallurgy, and defense industries. Their demand has increased sharply in the past decade with the boom in electronic device production. Some countries now consider them strategic metals for the future and it has been forecasted that REEs may become a dominant contributor to global economy. In the wake of REE exploration, mining and processing, concern has grown over occupational and community health issues and risks. A portion of available literature on this topic however is written in the Chinese language, and thus research information related to health and REE mining is not readily accessible to mineral development planners in countries such as Canada, where REE mining is now evolving. As REEs also represent an important commodity, primarily stemming from Chinese production, it is important to begin to understand the potential health costs related to this mining sector. There are two main objectives of this paper. The first is to present an overview of REE mining with a focus on geological characteristics, global production and uses with particular attention to the main producer: China. The second is to present the results of a literature review (using both Chinese and English sources) on REE mining and health and identifies key occupational and community health issues that require consideration. This paper concludes by identifying some critical issues this sector needs to address to ensure the sustainable development of this mining activity.

Aug 1, 2013

"Real-time, on belt analysis of minerals is becoming increasingly important and critical in modern operations, especially in the mine-to-mill. Prompt gamma neutron activation analysis has long been utilised for real-time elemental analysis in bulk materials, with Scantech's GEOSCAN being the instrument of choice in the minerals sector. Working in the minerals space for 15 years, the GEOSCAN has been successfully implemented in a wide range of minerals applications including iron, copper, lead-zinc, manganese, phosphate and more, and it caters for the very high demands and increasing requirements of a contemporary processing facility. An area of focus has been on increasing the analysis frequency to allow for rapid analysis results with the same high degree of accuracy typically expected of the GEOSCAN. This paper discusses the underlying research and technology that has enabled such rapid analysis and presents a range of examples using a thorough statistical approach on real production material, demonstrating achievable accuracy over a short analysis time, and dispelling common myths about the speed of the technique. Potential applications are discussed to conclude the paper.INTRODUCTION Technology and the information it can provide plays a critical role in the evolving modern mineral processing landscape. The importance of technology to analyse various features of ores and concentrates being processed is obvious, and recent years has seen the advance of numerous technologies to provide a variety of real-time measurements on conveyed material flows. From sampling apparatus to particle size analysis to weight and density meters to full elemental analysis, the availability of information enables a variety of improvements in the process leading to improved efficiency and increased revenue. To maximise the potential benefits, access to real-time information is imperative, and rapid updates of information become necessary to make appropriate process control decisions based on the most relevant and up-to-date information."

Jan 1, 2017

By Z. Ren, M. Tomlinson, E. Asselin

"Organic carbon blinding is a common, yet often partial, solution to the reduction of preg-robbing. A quantitative method to assess the extent of adsorption of a given blinding agent is presented herein. The adsorption of several blinding reagents on various carbon samples is quantified using electrochemical impedance spectroscopy (EIS). EIS results showed that kerosene is more strongly adsorbed on carbon than sodium lauryl sulphate (SLS), while SLS can hinder the charge transfer process of the oxygen reduction reaction on the carbon surface more effectively. The effectiveness of SLS is pronounced when its concentration is higher than 100 ppm. Raman spectra are presented for selected carbon samples: as the area ratio of the disordered peak to the graphitic peak increases, blinding agent adsorption increases.INTRODUCTION The presence of naturally occurring constituents in gold ores may adversely affect the extraction of gold in cyanide leaching since the gold cyanide complex, Au(CN)2–, can be adsorbed by these constituents (M. Adams & Fleming, 1989; Afenya, 1991; Miller, Wan, & Díaz, 2005). Such ores are known as “preg-robbing”. Preg-robbing behavior may arise from natural carbonaceous materials in the ore (M. Adams & Burger, 1998). In the past decades, a number of pre-treating methods have been developed for refractory carbonaceous ores (Arriagada & Osseo-Asare, 1984; Beer, 1994; Dunne et al., 2007; Jiang, Liu, Xiao, & Yang, 2012; Kohr, 1997; Kulpa & Brierley, 1993; Menne, 1992; Menne & Revy, 1994; Moyes & Houllis, 2010; Petrie, Craw, & Ryan, 2005; Simmons, 1996). The method known as blinding is one of the most effective and economical pre-treatment methods (M. D. Adams & Burger, 1998; Albert, 1923; Darrow, 1924; McQuiston & Shoemaker, 1975; Van den Berg, 2000). Blinding, also referred to as blanking or passivation, uses a chemical reagent to passivate the preg-robbing carbon by selective absorption or wetting (Bas, Altinkaya, Yazici, & Deveci, 2012; Brierley & Kulpa Jr, 1993; Dunne et al., 2012; Van den Berg, 2000; Yang, Qian, Song, & Dong, 2013; Yen, Amankwah, & Choi, 2008; Zhou, Jiang, & Choi, 2014). Organic reagents, which selectively adsorb on the surfaces of activated carbon and “smother” the surface, have been used for blinding carbonaceous matter in gold ores prior to cyanidation. Two comprehensive studies by Abotsi and Osseo-Asare and Adams and Burger have been published on this topic (Abotsi & Osseo-Asare, 1986; M. D. Adams & Burger, 1998)."

Jan 1, 2017

By P. Carlone, A. Astarita, F. Rubino

Cold gas dynamic spray is an innovative technology allowing the deposition of thin metallic layers on a bulk or sheet substrate. Titanium on aluminum deposition is very attractive to the aeronautic industry, due to the enhanced corrosion resistance and wear properties of titanium coating as well as its improved compatibility with CFRP, preserving the reduced cost of aluminum substrate. One main drawback, however, is related to the micro-porosity of the deposed layer, negatively affecting the corrosion barrier performance. In this paper, the effect of selective laser post-treatment on pure grade 2 titanium coatings on AA2020-T3 sheets was experimentally and numerically investigated. Morphological features, microstructure and chemical composition of the treated zone were assessed by means of optical microscopy, scanning electron microscopy and energy dispersive X-ray spectrometry. Microhardness measurements were also carried out to evaluate the mechanical properties of the treated coating. A numerical model of the laser treatment, based on a finite volume scheme, was implemented and solved to simulate the process and discuss the experimental outcomes. Obtained results highlighted the key role played by heat input and dimensional features on the effectiveness of the treatment.

Jan 1, 2015

By R. D. Browns

In his Budget Speech on March 31, 1 977, the Honourable Donald S. Macdonald expressed concern about the financing of investments through new equity issues. He mentioned the need to render more attractive participation in the equity market by investors in all in come brackets. One of the measures introduced in the budget to accomplish this goal is the proposal to increase the dividend gross-up and tax credit in respect of most dividends received by an individual from Canadian companies. The following comments and tables serve to illustrate the impact of this particular proposal.

Jan 1, 1977

By G. Kallfa P. Geo

Exploration at both Greenfields and Brownfields stages entails business risks of different nature and success rates. Greenfields exploration is exceedingly assumptive and the success rate of exploration or return on investment is low because exploration is an inherently risky business. Brownfields exploration on the other hand is less risky, as the geology is better understood, but generally speaking since the larger ore bodies close to surface have already been found the return is lower. In addition, most exploration at the Brownfields stage is generally more expensive due to extensive use of drilling. Surface geology mapping and expensive drilling have been key technical contributors to most exploration programs over the last two decades. However, as client expectations, logistics, target depths and complexity of exploration programs increase, there has been a growing emphasis on using geophysical techniques to complement other methods. Integration and optimization of various geoscientific disciplines is becoming more important in successful exploration programs of the future to reduce exploration risks, successful integrated exploration requires putting reliable geophysical parameters and correspondent petrophysical property contrasts into an assumed or conceptual geological model. This paper discusses a new multi-parameter geophysical methodology finalized in a unique conceptual geologic model which can be used either as a root model in grassroots exploration or as an efficient tool in Brownfields exploration to successfully find satellite orebodies of almost any size. The application of a new multi-parametric geophysical approach to Brownfields exploration is illustrated with examples from Manitoba, including a past producing nickel sulphide deposit in Lynn Lake and the Reed Copper deposit, currently in development.

May 1, 2013

By The Mill Staff

"IntroductionCOMMENCEMENT of operations at the new No. 7 shaft and 10,000-ton mill at Creighton mine was a major step in the programme of conversion to all-underground mining by the International Nickel Company of Canada, Limited. Planned ten years ago, the orderly transition has been greatly speeded-up to offset the heavy drain on production imposed by World War II and also to meet the increased demand for nickel caused by the current international situation. Development of new mining methods, and process changes in the reduction plants, have made possible the economic recovery and utilization of ore of lower grade than formerly used and of varying metallurgical characteristics. By 1953, when the Company's open-pit mining operations are scheduled for completion, the hoisting capacity of its five underground mines in the Sudbury district will have been increased to 13,000,000 tons per year, compared with 5,700,000 tons of underground ore hoisted in 1950.Two types of ore occur at Creighton. One is a breccia and stringer type that contains a high percent-age of massive sulphides and is located in sheets along shears and in large and small pockets on the underside of the main norite mass; the other type, forming the main part of the ore zone, is mineralized norite that occurs as a •sheet up to 400 feet thick overlying tl1e breccia ore. In both types of ore the minerals of economic interest are pentlandite, which is intimately associated with pyrrhotite, and chalcopyrite. Early mining was confined to the breccia ore; this ore was mined by open stoping methods. The hanging-wall was later allowed to cave, with the result that the old stopes are now filled with caved low-grade ore."

Jan 1, 1952

By J. Worden, D. Hughes, S. Smart, H. Zughbi

The enterprise wide optimization (EWO) of steelmaking and manufacturing is a multi-level, hierarchical problem which spans higher level corporate planning and scheduling through to the lower level operations of processes that produce and manufacture steel. External and internal system dynamics combined with process unit co-ordination create complex changing circumstances for the enterprise. This paper presents a scoping study as a prelude to enterprise wide considerations at an integrated steelworks to help inform the choice of appropriate model types and optimization techniques. The hierarchical, multi-level structure of the enterprise and the important spatial-temporal scales to consider are defined. Insights into the system were gained by analyzing a large set of dynamic operational data. Over two years of data were subject to both univariate and multivariate analysis with the intent of understanding the complex interrelations of energy flows on site, the inherent system dynamics of the energy network, system operational modes, aspects of planning and scheduling and the coordination between major processing units. This analysis was further used to evaluate the performance of the system in regards to energy utilization and understand the potential economic benefits derived from improved operational decisions.

Jan 1, 2015

By M. A. Cristovici

"In the last few years CANMET has taken the initiative by investigating the possibility of reactivating abandoned old tailings dumps (for gold production) which would be of potential economic interest across Canada.Nova Scotia was one location where numerous gold processing plants were in operation in the early days. A survey of the old tailing dumps was conducted and some areas of interest were selected. Among them were the sites identified as Lake Charlotte and Forest Hill.Ore samples collected from those tailing ponds were examined for their chemico-mineralogical composition and investigated for gold extraction. Three technological concepts were tested: flotation, direct cyanidation and flotation followed by cyanidation of the flotation concentrate. The combined flotation- cyanidation variant, yielding a gold recovery in the range of 90%, was recommended for processing the tailing ore.Pilot-plant runs carried out by a commercial testing firm (data not included in this paper) confirmed the conditions and results of CANMET's technology.As a result a consulting-engineering firm designed the processing plant which is expected to begin operation in the near future.IntroductionIn the last few years CANMET initiated a research program to locate in Canada, abandoned gold-silver tailing dumps of potential economic interest and to explore the possibility of recovering the precious metals from these old deposits by modern techniques.A literature search revealed that the first production of gold in Canada was recorded in British Columbia in 1858 and that, production prior to 1900 was essentially restricted to the Yukon, British Columbia Nova Scotia and Quebec. During the early 1900s, Ontario, Manitoba and the North West Territories joined the ranks of the gold producers.Early milling and recovery methods were mainly restricted to sluice boxes, gravity stamps and amalgamation. Froth flotation and cyanidation were introduced at about the turn of the century.Recovery of gold at plants using flotation and cyanidation was very good, therefore the tailing ponds resulting from those operations would, very likely be of little or no economic importance. However, the gold recovery at the amalgamation and gravity concentration plants appeared to be lower, indicating the possibility that significant amounts of recoverable gold would have been carried with the tailings to the dump sites."

Jan 1, 1986

By R. A. Campbell, R. R. Rogers

"AbstractThe experiments described show that crude bismuth metal containing up to 5 per •cent lead, 0.14 per cent silver, 0.015 per cent copper, 0.02 per cent iron, .and small amounts of antimony, nickel, and tin may be refined to a bismuth content of 99.98 per cent by distillation followed by chlorination. It also is shown that bismuth trichloride of high ,purity may be produced by passing chlorine over hot •crude bismuth metal and allowing the resulting vapours to •condense in a cooler .part of the system.IntroductionBISMUTH is used in the production of alloys and pharmaceuticals. During 1952, the New York price for the refined metal was $2.25 per pound in ton lots.Some months-ago a Canadian producer requested the Mines Branch to investigate methods of refining the bismuth which they had been producing. Their crude product had been selling for $1.50 to $1.70 per pound and it was desired to increase its purity to at least 99.98 per cent so that it could be sold for $2.25 per pound."

Jan 1, 1955

"Real-time, on-stream analysis of the metal content of process slurries is an essential prerequisite for process monitoring and advanced control of mineral processing circuits. On-stream X-Ray Fluorescence (XRF) sensors for base metal applications are available commercially and form the basis of many plant monitoring circuits. To date, these commercial technologies have been insufficiently sensitive to measure precious metals such as gold and platinum group elements, typically present at part-per-million (ppm) and sub ppm levels. CSIRO has developed a novel X-ray based technology, called UltraGold, which enables detection of gold in slurries on a real-time basis with a precision below 100 parts-per-billion. This technology is based on the use of advanced X-ray optics, extensive Monte Carlo computer modelling for analyser design, high accuracy X-ray spectrum fitting where the X-ray intensities are matrix corrected. In this paper, we will introduce this technology and discuss the results of a proof of principle study performed in the laboratory with plant slurries (tailings and concentrate) from an Australian beneficiation plant. Finally, we will discuss further planned improvements. As projected grades in (gold) mining around the world fall and several large-scale mines approach the limits of their economic reserves, this method can enable significantly reduced operating costs by rapid analysis to improve circuit efficiency and hence improve recovery significantly.INTRODUCTION This paper describes a study undertaken to explore the feasibility of applying CSIRO?s UltraGold XRF technology to the on-stream measurement of gold in process slurries. The provision of rapid, accurate information of gold grade in feed, tailings and concentrate streams would facilitate significantly improved process control and early detection of plant upsets, resulting in substantial cost-savings. CSIRO have patented X-ray fluorescence (XRF) techniques for the analysis of key elements in slurries present at part-per-million (ppm) and sub-ppm levels. Conventional, commercially available on-stream XRF instruments generally have detection limits in the tens of ppm range, precluding their use for analysis of elements like gold that are mined and processed at much lower concentrations."

Jan 1, 2017

By T. R. Ellis

The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned. Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis. Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers.

Mar 1, 2002

By T. R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and ExchangeCommission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2002