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By M. Zanini, D. Wong

ABSTRACT: Metals market improvements in 2005 drove the desire to increase nickel throughput and the production of nickel oxide sinter at the Vale Ltd. Copper Cliff smelter. Significant difficulties were encountered due to the unreliable quality of Bessemer matte being produced. Concentrate feed changes and the loss of technical and operational expertise during the previous market downturn contributed to the challenge of making the required improvements. Significant progress has been made in the converter aisle by focusing on employee engagement and standardizing best operating practices for a new generation of skimmers. This paper documents these initiatives and seeks to balance the art and science of converting.

Jan 1, 2012

By Collin L. Stewart

The high cost and limited flexibility of modern longwall systems has resulted in the need for mine engineers and geologists to predict possible adverse mining areas ahead of mining and to then design and implement suitable ground control solutions in a timely and cost effective manner. Therefore, over the last 30 years, geo-technical evaluations for coal mine planning and development have advanced from a minor afterthought to an important part of today?s successful, high capacity, longwall mining operations. The latest iteration in this progression of improved analysis for predicting future mining conditions is a computer-based Stability Mapping System developed by West Virginia University. This system is designed to allow the mining engineer and geologist to effectively combine the mine geologic characteristics, stress influences, and structural features into an integrated stability map for use in mine planning and support design. This paper details the application of the stability mapping system to Bowie Resources, LLC, Bowie No. 3, multiple-seam longwall coal mine. At this mine, the prediction of adverse mining conditions using the stability mapping system allowed management to accurately adjust their support densities and operational procedures, and to successfully mine through difficult conditions safely and successfully.

Jan 1, 2006

By D David

Amongst those whose task it is to design tumbling mills and other comminution machines there is an almost religious divide between devotees of the Bond method and devotees of other methods developed in more recent times. For a decade or so the issue was between the Bond power-based methods and the JKMRC (JK) simulation based approach. The newest method to challenge the status quo is power-based and was developed by Steve Morrell. As the title suggests, this paper will take some liberty at concluding that Fred Bond and Steve Morrell may be separated by history, but not by their approaches to their individual contributions to the science of comminution. Another driver for the paper is that although it is good to have diversity of thought, the existing divisions are problematic for those of us signing public disclosure documents. If alternative design methods produce materially different outcomes for the mill duty, then at least one of them is wrong or being used incorrectly. At some point the unsustainable argument may need to be put in a court of law that we metallurgists have two or more materially different design methods, each of which is correct! Therefore, perhaps a resolution is needed before this occurs?The works of both Fred Bond and Steve Morrell are each directly related to their contemporary grinding mill design and operational environments. Both their approaches are empirical, borne of observing and measuring real world situations. Both worked with theories that preceded them, gathered their own data and then each saw shortfalls in the status quo.Fred Bond was an escapee from revolution, a victim of The Great Depression, and had several near death experiences during his early site-based career. Perhaps he was fortuitously rescued from himself when asked by Allis Chalmers (A-C) to set up its rock testing laboratory in Milwaukie in 1930. Fred’s testing led him to conclude that neither the Kick nor the Von Rittinger theories explained his measurements. His writings on the failings of these old theories caused a divide between devotees of the old and new methods at that time. After many years, and much thought and plotting of data (the old way!), he came up with his now-famous equations (and his Third Theory) which have stood the test of time, certainly in the world of Bond-era machines.Coming from England via several African diamond mines, Steve Morrell immersed himself into the comminution world of the JK in Brisbane about a decade after Fred passed on. The JK had developed its semi-autogenous grinding (SAG) simulation framework using its own pendulum breakage tester, itself a derivative of the twin pendulum impact device invented by Bond decades earlier. At the JK Steve developed his authoritative Tumbling Mill Power equations and was involved in real world analysis of comminution problems on the global stage. Steve’s JK experience coincided with the demise of the rod mill, the rise of autogenous grinding (AG) and SAG milling and a rapid expansion in concentrator capacity.Morrell left the JK to pursue his own interests, which included ongoing consulting work, now demanded by the comminution world. He then turned to investigating a growing list of discrepancies between the opinions of designers and theoreticians, and the factual outcomes. The Morrell Method of design arose from this re-examination of ore testing, real world operating data and these glaring and expensive discrepancies between design and outcome. The elements necessary for a relook at the world of rock breakage were in place!CITATION:David, D, 2017. Steve and Fred would have been mates – a comminution design evolution story, in Proceedings MetPlant 2017, pp 2–11 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 11, 2017

By D Laurence, L Ge

This paper demonstrates use of remotely sensed imagery in promoting sustainable mining. Remote sensing technology can be used during all phases of a mining project û from evaluating the resource, to making extraction more cost-effective, through to monitoring, mine closure and remediation. Use of the new generation of satellite platforms with the capability of acquiring satellite data with higher spectral and spatial resolution have the capability to emerge as essential indicator for sustainable development in the minerals industry. A life cycle approach to satellite imagery is discussed. The use of an imagery of the site prior to mining activity establishes the environmental baseline, guides mitigation measures and eventual help in suggesting remediation. Remote imagery provides the cost-effective means of monitoring reclamation, including the growth of planted vegetation, of the mine site and surrounding area. The latest advancements in satellite remote sensing are highlighted to meet the newer challenges of sustainable mining practices. Some of the worldwide successful remote sensing applications for the measurement and evaluation of the sustainable development impact of mining operations are described. Presently available source of imagery and its comparative advantages and disadvantages are provided as a guide. Finally, the limitations of this tool are indicated.

Jan 1, 2009

By Staff

"INTRODUCTION Sheet mica is one of the most important minerals in modern industry. It is used in many kinds of electrical devices, and up to the present time no satisfactory substitute for it has been developed. It is necessary for the successful operation of airplanes, ships, motor vehicles radios, and radar equipment. Early in World y r II, the Array and Navy, foreseeing the need for conserving the stock of sheet mica on hand and realizing that imports from India and Brazil were falling off, had strategic mica placed on the critical war-materials list.Examination and exploration by the Bureau of nines indicated that there probably are large undeveloped deposits of mica in Alabama, some of which are near the surface and others at greater depth. The quality of most of this mica is high.During World War I, Alabama mica producers added materially to domestic production, but after 1920 virtually all of the mines closed end miners scattered. During World War II, when imports from India, Madagascar,Brazil,,other foreign sources were reduced, sometime was required for Alabama to act into production. Operators began to produce small quantities in 1942.The Colonial Mica Corporation was created by the Government during 1942 to buy Mica for the Metals Reserve Company, end later Colonial was made sole buying accent for strategic mica. About this time the Bureau of Mines estab¬lished the graphite field laboratory at Ashland, Ala. Samples of mica wore submitted for examination, and advice was requested by property owners and mine operators. This continued during 1943, when as many as 400 visitors a month called at the Bureau's Ashland field laboratory."

Aug 1, 1946

By JOHN HOMER, KATHLEEN STABRYLA, JACOB L. CARR, JONATHAN K. HRICA, JENNICA L. BELLANCA

Given the recent focus on powered haulage incidents within the U.S. mining sector, an appraisal of collision avoidance/warning systems (CXSs) through the lens of the research literature is timely. This paper aims to evaluate the maturity of CXS technology through the application of a technology readiness assessment (TRA) to research literature identified by systematic search methods. Results indicate that much of the evidence for CXS performance is at lower levels of maturity: that is, components and prototypes tested in a laboratory and in relevant environments. Less evidence exists for CXS performance at higher levels of maturity — that is, systems evaluated within operational environments — despite the existence of commercial products in the marketplace. This lack of evidence at higher maturity levels within the scientific literature highlights the need for more peer-reviewed research to evaluate CXS technologies. Additionally, results of the review reveal that most of the literature relevant to CXS technologies is focused on vehicle-to-vehicle interactions, which contrasts with haul truck fatal accident statistics that indicate most are due to vehicle-to-environment interactions, such as traveling through a berm. Lastly, the relatively small number and segmented nature of relevant studies suggest there is a need for more incremental research that would better facilitate the improvement of CXS technologies. This progression could be achieved through continued long-term interest and support for CXS technology research.

Mar 1, 2023

The modern Golden Cross mine entered the production phase in January 1992. The project is designed to produce over 100 000 oz/yr of gold and over 300 000 oz/yr of silver during a mine life of eight years. An open pit and an underground mine are operated producing around 850 000 t/yr of ore, to feed a conventional carbon-in-leach processing plant. Golden Cross is owned in joint venture by Coeur Gold New Zealand Limited (80%) and Viking Mining Company Limited (20 %).   Since the start of production several major aspects of the design have altered. The underground mine began as a mechanised cut and fill operation. The cut and fill stoping progresses in 3.3 m flatback lifts with maximum stoping width of 6 m. Where the ore zone is wider than 6 m a post pillar cut and fill method is used. In 1993 a new bench mining plan was introduced between the 270 and 260 levels. Flatbacking continued in the footwall drives in anticipation of variability of the ore width and orientation. The development of levels below the main service 200 level has indicated a possibility of bulk mining the ore block rather than flatbacks. This could lower mining costs but also introduce higher dilution rates. Development is in the advanced stages for trialing this method.

Jan 1, 1994

"Energy efficiency in mining and minerals processing has attracted considerable public and industry attention because of the significant quantities of energy consumption involved. In this context the question of what are worthwhile targets for energy efficiency improvements ought to be of the highest priority. It is however worth taking a step back to avoid falling in the trap of taking preconceived ideas that have been reiterated repeatedly before as gospel. The aim of this paper is to highlight areas where new or alternative approaches could potentially be the better way forward. Some may come as a surprise to conventional industry thinking. Ultimately any such solutions are attractive to practitioners not just in an environmental but also in an economic sense, and hence should be targeted through applied research and development efforts. This paper highlights key aspects of each group of opportunities and some of the individual approaches to provide an overview of the current status quo.MINING INDUSTRY POWER UTILISATION – WHERE IS THE BIGGEST BANG FOR THE BUCK?The question of where is the biggest bang for the buck when trying to determine worthwhile targets for energy efficiency improvements has not always been reported on broadly enough, typically because industry practitioners operate in specific areas of expertise and comfort zone. Looking beyond the familiar doesn’t always come easy. Any technology or methodology consideration to address energy efficiency needs to take into account the context of alternative opportunities of superior value or risks not achieving desired uptake. The following sub-chapters have been ordered by magnitude of improvement potential as best as is possible, starting with the biggest first, and the smallest last. Some may be a surprise relative to conventional mining industry thinking."

Jan 1, 2016

By Jack G. Gill, Richard A. Dick

Blasting safety is a subject that cannot be overemphasized. Two years ago, a study was published describing g a series of fatal blasting accidents which took the lives of ten metal and nonmetal miners during the period of May 1973 to August 1974.1 Each accident was described, and the direct causes were delineated. In each instance, specific MESA safety regulations were violated. Four of the victims were killed by drilling into explosives; two were killed by lingering too long in the vicinity of fuse rounds; two fatalities resulted from improper guarding of shots; one blaster did not retreat far enough to avoid the blast concussion; and another used an improper tester for checking an electric blasting cap. All of these fatalities could have been avoided by adhering to the MESA blasting regulations contained in 30 CFR Part 55 (Health and Safety Standards-Metal and Nonmetallic Open-Pit Mines), Part 56 (Health and Safety Standards-Sand, Gravel and Crushed Stone Operations), and Part 57 (Health and Safety Standards-Metal and Nonmetallic Underground Mines).

Jan 11, 1977

By Alton Gabriel

During the fall of 1940, J. R. Thoenen of the Mining Division, Bureau of Mines, accompanied by the senior author, surveyed the more important domestic alunite deposits. Although the study was designed primarily as an economic survey, samples from a number of the deposits were collected to investigate the beneficiation of the lower-grade material.

Jan 1, 1942

By Alton Gabriel

During the fall of 1940, J. R. Thoenen of the Mining Division, Bureau of Mines, accompanied by the senior author, surveyed the more important domestic alunite deposits. Although the study was designed primarily as an economic survey, samples from a number of the deposits were collected to investigate the beneficiation of the lower-grade material.

Jan 1, 1942

By H. J. de Haan, L. Schenk

Scope for Thermal Recovery in Shell's Heavy Oil Fields in Venezuela The main heavy oil reservoirs on the East coast of Lake Maracaibo (Fig. I), known as "Bolivar Coast", initially contained some 20 billion bbl of oil in place with gravities in the range of 10 to 15° API. The current total production rate is about 400,000 B/D. Since the recovery to date is on an average only 12.5 percent of the initial oil in place, these fields offer a vast potential for secondary recovery methods. The reservoirs are characterized by moderate depth (generally 1,000 to 3,000 ft; maximum 5,000 ft), good formation properties such as net oil sand thickness (50 to 300 ft), high porosity (30 to 40 percent) permeability (1 to 3 darcies) and oil saturation (initially about 80 percent) and high oil viscosity (100 to 10,000 cp in situ), all of which are favorable for the application of thermal recovery processes. Since 1957, steam drive, steam "soak" and underground combustion have been tested or are being tested in this area.1-3 This paper deals with a major steam drive test in the Tia Juana field. The test was commenced in Sept., 1961, on the basis of encouraging results of laboratory experiments and pilot field tests, which will be discussed briefly. Early Laboratory Investigation of the Steam Drive Process In 1956 a series of model experiments was carried out in the Koninklijke/Shell Laboratorium, Amster- dam, to investigate the displacement of heavy oil by steam.' The prototype studied was a horizontal, un-consolidated heavy oil reservoir, subjected to a linear steam drive. The model, representing a slab from this reservoir along the main flow direction, consisted of a steel tube filled with oil-saturated sand, provided with layers of rock at the top and bottom to simulate conductive heat losses to cap and base rock. Lateral heat losses, perpendicular to the main flow direction, were minimized by insulating the sides of the model. Heat flow and viscosity and gravity forces were scaled by taking the steam injection rate and sand permeability inversely proportional to the geometric reduction factor of the model, and using materials (oil, steam, cap rock, etc.) identical with those of the prototype. The main feature of the process was a frontal displacement mechanism that was observed within wide ranges of injection pressure and rate, oil viscosity, initial oil saturation and sand permeability. The high stability of this front can be attributed to the high volumetric steam flow rates, combined with the reduction in oil viscosity. High recoveries were obtained due to the low residual oil saturation of about 15 percent in the zone swept by steam. The latter value pertains to the specific test conditions (heavy oil, uncon-solidated sand) and may be lower for light oil, due to the effects of steam distillation. The applicability of this experimental approach is limited, as it does not take into account the fact that

Jan 1, 1970

By Jim Sarvinis, Mark Berkley, David Clarry, Jason Berzansky

"Technologies developed to sequester CO2 or use CO2 for enhanced fossil fuel recovery are currently being utilized across the globe. Taxation regimes and CO2 credit trading are becoming drivers for a number of projects. Some mining companies have also identified ancillary opportunity to sequester CO2 in their by-products; recent work in the alumina industry is a prime example. In addition to process plant emissions, mining companies are becoming increasingly aware of their overall carbon footprint, including CO2 generated during the production of utility power. New power plant designs, in various stages of development, include CO2 separation and sequestration techniques. This paper summarizes the state-of-the-art for these technologies; including integrated gasification combined cycle (IGCC) power plants. A concept to use the gasification products as reductant in metallurgical processes is also described. The relevance of technology from power plant designs with post-combustion capture to the processing of off-gas generated in metallurgical facilities is also reviewed.IntroductionGlobalization and international economic growth have led to an increase in energy demand worldwide, and a corresponding increase in greenhouse gas (GHG) emissions. In 2005, 81% of global energy supply came from fossil fuels [1]; and while alternative energy technologies are emerging, it will require many decades to curb society’s fossil fuel dependence. Given the global concern of climate change and its scientific relationship with anthropogenic carbon dioxide (CO2), there is at present great interest in the development of techniques to reduce emissions of CO2. While most of these efforts are related to power generation and energy efficiency, the development of technologies for CO2 capture may offer opportunities in reducing emissions from industrial processes."

Jan 1, 2008

By Olga Frank-Kamenetskaya

The experimental results of study of atmospheric corrosion processes on Saint-Petersburg bronze monuments surface, received in situ and by means of simulating experiments, have been discussed. Influence of the time factor on corrosion film (patina) mineral composition has been analyzed. Direct dependence between patina mineral composition and environmental conditions has been proved. The sequence of patina phases crystallization has been established. Effect of the chemical composition and heterogeneity of artistic bronze and also monument surface structure on the rate of corrosion process has been regarded. The time variations of mass of the crystallized in the hydrochloric acid vapor phases have been investigated. The kinetic laws of their development at the initial stage of formation, indicating simple (non chain) reactions, have been revealed.

Jan 1, 2006

By R. Scheepers

"Abstract -Mineral deposits and prospects of the Pan African Saldanian orogenic belt in the south­ western Cape Province South Africa, are reviewed. Despite the entire absence of operating base or precious metal mines in the area, this study has established at !east four metal associations that offer enticing exploration potential .The poly-phase deformed, low-grade metamorphosed volcano-sedimentary Malmesbury Group constitutes a complex, poorly understood supracrustal sequence that has been loosely subdivided into the Tygerberg, Swartland and Boland tectono-stratigraphic terranes by northwesterly trending fault zones. Syn- and post-tectonic granitoids of the Cape Granite Suite selectively intruded these terranes. Early S-types preferred the Tygerberg terrane whereas the later I-types dominate the remaining areas. Anorogenic A-type granites, however, occur in all three domains. Known metallization is directly or indirectly related to the intrusives, yet syngenetic deposits are conspicuously absent from the supracrustals. Four metal associations have been identified.•,Cassiterite-wolfrarnite (± Au, Cu, Mo, Fe-sultides) in quartz and quartz/aplite veins hosted by tourmalinized and locally greissenized S-type granite. Similar exo-granitic veins occur in proximal metamorphites.•,Juxtaposed disseminated, stockwork, breccia and vein style Cu-Mo-Fe-(Au)-sultide mineralization hosted by matie to intermediate intrusives of high K calc-alkaline, 1-type affinity.•,Cu-Mo-Au-sultides hosted by hydraulic breccia pipes, stocks and veins occurring in anorogenic A-type alkali feldspar granites and amphibole quartz syenites.•,Scheelite with minor Cu-Mo-sulfides and Au-associated with endo- and exo-skarns spatially related to I-type monzogranite, granite and alkali feldspar granite .The first three associations occur along the Yzerfontein-Helderberg-Zone, a 180 km lineament in the Tygerberg terrane, a zone exploited by syn-, late- and post-tectonic intrusives and their related mineralization. The fourth association is typical of the Boland terrane. The spatial and temporal relationships between the various metal associations is interpreted as the result of sequential intrusion of relative early high level S-type, followed by intermediate level I-type and finally anorogenic A-type granitoids during the evolution of a contracting continental margin arc and its inner arc. This plate tectonic setting suggests subduction in an easterly direction underneath the Kalahari craton. The spatial configuration of the various terranes at the present erosional levels is the result of rifting and significant differential vertical displacement following cessation of subduction, a terminal tectonic event possibly synchronous with intrusion of the A-type granitoids.Near surface preserved roof zones and cupolas of both S- and I-type granitoids in the Tygerberg and Boland terranes, respectively, render these areas extremely prospective for Sn, W, Mo and Au mineralization. The presence of intermediate to mafic volcanics, a diversity of calcareous lithotypes and favorable plate tectonic setting of the Malmesbury Group suggest potential for the thus far elusive VMS, MVT and Sedex base metal and minor precious metal deposits."

Jan 1, 1994

By A. V. Roschin, N. V. Malkov, V. N. Karnoukhov, V. E. Roschin

Reduction interactions in solid phases are widespread and occur in most complex metallurgical processes. Among these processes, reactions between oxides and carbon have a special importance. The authors conducted experiments for comparison of reduction by different reducing agents of impregnated chromite ores, in which grains of the reducible chromite spinel are isolated from direct contact with the reducing agent by layers of non-ore material. The results of the experiments have revealed that the beginning of reduction is preceded by thermal and impurity order-disorder transformation of the oxide lattice whilst the transformation of the oxide lattice into the metal lattice takes place as a result of removal of oxygen anions from the zone of metal germ nucleation. Since anions are charge carriers, increase of their mobility can be monitored by changes in electrical conductivity of oxides. Respective measurements of electrical resistance of ores of different metals and a number of pure refractory oxides under heating have indicated that the beginning of reduction coincides with the time of drastic (tens of thousands times) increase of conductivity of the oxides. Besides, the temperature of the beginning of carbon-thermal reduction is in line with the Tammann temperature, i.e. the temperature of transition from the predominantly surface diffusion to volume diffusion. Segregation of metals from the oxide lattice occurs as a result of merging of anion vacancies with defect electrons on defects of the oxide lattice. The transformation of the oxide lattice into the metal lattice requires a certain concentration of anion vacancies and inflow of electrons from the reducing agent to the site of metal segregation. Such inflow has no difficulties due to the mixed anion-electron nature of high-temperature conductivity of oxides. Thus, the reduction is not determined by oxygen diffusion, it is determined by oxygen vacancies diffusion whose speed exceeds the speed of oxygen diffusion by orders of magnitude. This determines that the kinetics of reduction considerably exceeds the kinetics of oxidation at similar temperatures since oxidation proceeds by means of mass transfer of oxygen through the layer of the generated oxide.

Jan 1, 2004

By Y. P. Lu

PET/kaolin nanocomposites were prepared with melt blending and the structure of the composites was characterized through IR techniques. The results showed that there is stable chemical bonding between PET and kaolin. In addition, the dispersion condition of nanokaolin was observed by means of SEM and TEM. As a result, the thickness of the dispersed nanokaolin particles in PET matrix is mainly from 20mm to 200nm, and the nanosized particles congregate to some extent in the samples. In addition, it was found the kaolin particles almost homogeneously dispersed in the PET matrix, without preferential orientation because of the shear effect due to melt blending. Furthermore, the mechanical properties of PET/kaolin nanocomposites are dependent on the modification efficiency of nanokaolin. With the poor efficiency, the nanokaolin particles tend to aggregate at a high content and have a bad interfacial compability between nanokaolin and PET matrix, which lead to stress concentration, so the mechanical property descends. Experiments of different contents of modified nanokalin indicated that the intensity of PET/kaolin nanocomposites decreased firstly, then increased, and then decreased, with the nanokaolin content of 4 to 5 percent, the rupture stress of the composites showed a maximum value, which was higher than that of pure PET. On one hand, nanokaolin decreases the function among PET macromolecules, which will decline the mechanical properties, on the other hand, the piece structure of kaolinite improves the intensity of the nanocomposite. When the nanokaolin content is low, the former has the dominant effect on mechanical property, while the latter will play a leading role with the content increasing. But if the nanokaolin content still increases, the agglomeration and stress concentration will be obvious.

Jan 1, 2014

By R. Trammell, O. Eterigho-Ikelegbe, S. O. Bada

In response to the enormous amounts of coal discard generated during coal mining and preparation, the development of an efficient and sustainable strategic use of this resource is essential. Furthermore, the rising urban population over the next decades is confronted with the depletion of quality raw materials for building components. To this end, this study reports new information on the morphology, water absorption, and flexural strength properties of ceramic composites produced from three different coal discards and polysiloxane pre-ceramic polymer (PCP) resin. In addition, test results relating to the continuous operating temperature, chemical resistance, and efflorescence potential of the composites are presented. The results show that the water absorption and flexural strength of the coal composites, up to 1.94% and 36.46 MPa respectively, exceed the requirements for ceramic and clay roof tiles. The continuous operating temperature of composites is found to be more thermally stable than conventional roofing tiles (concrete and ceramic) between ambient temperature and 600°C. In addition, the excellent chemical resistance of the composites (94.43%−99.98%) compared to conventional roofing tiles (67.82%−99.97%) eliminates the need for additional external coatings. The interesting results documented so far suggest that this technique could be used to produce low-temperature application building products such as bricks, panels, roofing tiles, etc. This new recycling technique offers an excellent opportunity to eliminate enormous volumes of coal discard and to advance the circular economy in the coal industry.

Aug 2, 2022

By C. Anim-Sackey, R. K. Amankwah

Some large-scale mining companies in Ghana have adopted proactive management strategies in dealing with small-scale (galamsey) miners who have encroached on their concessions. This has been mainly achieved by ceding portions of the concessions held by the companies to the Minerals Commission of Ghana for licensing to the small-scale miners. This development has created an amicable relationship between the mining companies concerned and the galamsey miners in their host community. Ghana’s small-scale gold and diamond industry The small-scale gold and diamond mining industry in Ghana has existed for many centuries as an informal sector. Since the regularization of the activities of small-scale mining in 1989, two types of small-scale miners have emerged — legal and illegal.

Jan 1, 2004

By T. R. Ellis

Regulation of mineral property valuation methodology by governments and others is due to frauds, condemnation and takings, banking industry problems, and litigation. Definitions of "reserves," "resources," and "qualified person" continue to evolve, along with guidelines to the data and disclosure required to support valuations. A less recognized but vital issue relates to the regulatory acceptability of alternatives to the comparable sales method. Comparable sales generally work well for surface real estate, and sometimes for precious metal deposits, but not at all for most industrial mineral properties. Alternative methods, such as net present value, or a geoscience rating system, often provide better valuations. Yet US regulations dictate comparable sales as the preferred method. The task of convincing regulators of the inapplicability of comparable sales to mineral properties, particularly those lacking reserves, may be as important as the valuation itself.

Jan 1, 1999