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By J. Eric Nylund

"Intensive mechanization and automation in the LKAB, Kiruna Mine in Sweden have resulted in substantial rise in productivity and decrease in production cost. Capital investment in a modern mine today averages a considerable amount per miner and costs increase with requirements for more efficient methods and equipment. Equipment reliability becomes more and more important. Equipment maintenance requirements are directly proportional to equipment reliability and grade of availability. Weaknesses in the equipment result in unnecessary costs with regard to maintenance which can add up considerably per year, but of more importance are the costs caused by equipment breakdown. These breakdowns disturb or interrupt the production and often cause damage to other parts of the system. This paper discusses the important parameters involved in mine car wheel wear and the design principles of wheels, axle suspension and track.IntroductionTrains operating in an underground mine do not follow the same standard of performance as trains operating on surface railways. The differences in speed, curve radius and environment require different methods of calculation for underground train systems, and when judging the parameters involved one must keep in mind these differences at all times.While surface railway technology was given all possible attention over the last century no one was seriously looking into underground rail haulage in the sense of rail vehicles performance on the track until LKAB in 1975 started to question the methods of calculations used. Even though LKAB by then attained mine car maintenance cost that was 1/6 to 1/10 of other mining companies they were not pleased with the situation. The objective for the ensuing engineering work was to derive the reasons for wear and breakdowns. Once those reasons were established, the design of a completely new generation of mine cars could start. The result of these efforts were beyond all expectations. The maintenance cost on mine cars had been reduced to 1/15 of prior car generation which already had comparatively low cost.The most significant cost savings were made on wheel maintenance, which earlier represented 50% to 55% of car maintenance. Wheel life was increased from an average of 3 to 30 years or more.The LKAB theories around wheel wear are described in the following report."

Jan 1, 1987

By J. Ran

Ground instability is among the major causes of serious incidents and production disruptions in the mining industry and has a significant impact on safety. Mining companies may have operations in a number of jurisdictions with varied regulatory requirements for ground control management. As these companies expand into countries where mining regulations are formative or lacking clear definition, ground control practices are usually developed by local mine personnel based on their experience. In many cases, inconsistent procedures and standards are generated, which can lead to an increase in occurrence of underground incidents due to difficulties and confusion in implementation. This situation has forced some mining companies to standardize their ground control practices by geographic regions or divisions. Though this approach is an improvement, it may not lead to effective management of ground control issues across all operations of a global mining company. Barrick Gold Corporation, with operations in North and South America, Australia and Africa, decided to adopt a global approach to ground control management. This global approach requires all Barrick operations to prepare and implement an effective ground control management plan (GCMP) based on site specific conditions and company guidelines. It is also required that the GCMP be developed through application of sound geotechnical engineering practices and be consistent with local regulatory requirements and Barrick safety policies. All Barrick underground operations have GCMPs in place, and its surface operations are now involved in the initiative. This paper presents Barrick?s global approach to underground mine ground control management and outlines the content and process for the development of a GCMP.

May 1, 2006

By A. Rajan

"Drawing upon the experiences of a gold extraction plant startup in the Southern Pacific, this paper will describe the importance of the commissioning phases to the project outcomes to achieve early target production despite an overall time compression to attain full plant production. Some of the highlights of the paper include: impact of roles played by the Owner’s construction and operations representatives during project commissioning, the formation of a capable and competent “Mod Squad,” availability of trained operating personnel, control over work priorities and the scope of work needed to bring the plant to safe initial operations. The commissioning team comprised subject matter experts skilled in process technology supported by “generalists” thoroughly conversant in overall plant operations. The merits of a structured team approach to brainstorm and resolve commissioning challenges as opposed to direction from individual subject matter experts is discussed. IntroductionStartup or commissioning is a unique period in the life of a project. Each stage of a project-exploration, feasibility, design, construction, commissioning, initial operations and continuing operations-requires special talents, know-how, and practices. Each stage makes particular demands of the people involved. Initial operations are no exception.Having experienced the 1997 startup phases of oxide and sulfide facilities for a gold extraction plant at a remote island in the Southern Pacific, I can attest to the many challenges and rewards. Commissioning for both facilities was extremely successful and brought the entire project on line well ahead of the targeted completion dates. Using this specific project as an example, this paper will highlight some of the key features of project commissioning. In this paper, the term “pre-commissioning” denotes all activities that lead to mechanical completion; “commissioning” occurs when feed is introduced; and “initial operations” are defined as the duration when operations accepts the system/facility and takes over."

Jan 1, 2000

By Christoph Mueller

Mining operations are characterized by cost pressure and cycling product prices. A high potential for enhancing efficiency is the integration of all single steps of the mining working chain into a production process structure to make advantage of an optimized flow of material and information through the ?moving ore factory?. As modern mining machinery today is controlled electronically and even already operated autonomously, a smooth and cost efficient flow of data in the mining process will be crucial for cost efficient future mine operations. Therefor, the International Rock Excavation Data Exchange Standard (IREDES) was launched by major players in the industry. The task of this initiative is to define a ?common electronic language? for easy and standardized data exchange between mining machines and central computer systems. As in other industries, this standard is expected to have significant impact on the use of automated equipment. It shall provide easy ways of using multi vendor machine installations in data controlled mining processes. At the same time it reduces cost for individual development of interfaces for all parties involved. Standardized data exchange is also a crucial precondition to integrate the mining process into enterprise level modeling, cost analysis and decision finding systems. The standard?s technical architecture is open and flexible for future applications. It uses modern XML technology enabling easy data exchange with commercial databases as well as open on line networking. The IREDES work is carried out by the initiative members working jointly together in the technical work groups. Prototyping implementations of the Drill rigs profile are currently going on. Further profiles under development cover LHD?s/Loaders/Trucks and Explosives Chargers. The first official release covering the Drill Rigs profile is planned for the end of 2002.

May 1, 2002

By Charles Kocsis

Over the last few years a multi-faceted feasibility study has been evaluating the introduction of hydrogen fuel cell powered equipment into underground mines to replaced diesel engine powered equipment. The analysis has shown that under normal operating conditions fuel cells could at the very least be an environmental and health benefit by eliminating combustion engines and their unwanted by-products. However, they could also generate significant reductions in the amount of ventilation a mine needs to supply when compared to dieselized operations; this would further decrease a mine?s energy consumption, its associated greenhouse gas impact and also reduce a mine?s significant ventilation associated costs. Fuel cell powered equipment also has the advantage of lower noise and heat production compared to their equivalent diesel powered counterpart. The degree to which fuel cells can generate ventilation benefits in underground mines depends upon a number of operational parameters and mine specific qualifiers such as current ventilation control or management, mine depth, inherent dust conditions and minimum velocity requirements. However another major consideration in the introduction of fuel cells in underground mines will be the safety requirements associated with diluting and removing the potentially explosive hydrogen in the event of a gas leak. In outside surface applications, it is possible to use dispersion, buoyancy, time, and lack of ignition sources as mitigating factors in deriving a low risk of an explosion. However, in underground operations these factors change, dispersion and buoyancy are limited; time may not be available and in non-coal mines ignition sources are not typically controlled. When a hydrogen leak occurs, the availability of sufficient ventilation to dilute and effectively remove the gas will be critical, consequently ventilation may be the prime risk controlling factor. In this paper, the authors evaluate the potential benefits of replacing diesel engines with fuel cells in powered production equipment, discuss the mitigating qualifiers that could limit ventilation savings and evaluate solutions to retain and maintain an additional ventilation capacity in the event of an emergency situation such as a hydrogen leak from the fuel cell stack or its distribution system.

May 1, 2007

By S. Banisi, M Nesari, J. A. Finch, N. Nobari, H. Javani

"The flotation circuit of the Sarcheshmeh copper mine, which processes 40,000 t/d of ore at 0.9% Cu, consists of rougher, cleaning and recleaning stages. Mechanical flotation cells are used in all stages. To investigate the amenability of flotation columns in the plant especially for cleaning and recleaning stages, a column was designed, constructed, and installed at the Sarcheshmeh pilot plant. The pilot plant, which has an identical circuit configuration compared to the plant, can process up to 2 t/h of ore. The overall rate constant of the ore along with the target recovery of 94% were used to size the column. A 26 cm by 550 cm column with two filter cloth spargers and a submerged froth washing system using perforated tubes was constructed. To detect the interface level a 180 cm conductivity probe consisting of 1.5 cm diameter ring electrodes was installed. The tailings flowrate controlled by a variable speed pump was used as the main control variable. The initial testing program revealed that the optimum superficial gas and wash water flowrate were 1.5 and 0.3 cds, respectively. It was observed that the cleaning stage grade when using the column could increase by 2-3% at constant overall copper recovery.IntroductionThe Sarcheshmeh copper ore body which may rank as third or fourth largest in the world contains 1 billion tomes averaging 0.90 % copper and 0.03 % molybdenum. It is in located south-east Iran and has been processing 40,000 t/d of ore since 1982. After three stages of crushing, the ore with a F80 of 12.7 mm is fed to 8 parallel ball mills in closed circuit with cyclones to produce a product 70% finer than 75 microns. The concentrate of the first stage of flotation is reground and the tailings constitutes the main component of the plant final tailings. A concentrate with an average grade of 31% Cu (chalcopyrite and chalcocite) is obtained after cleaning and re-cleaning stages in mechanical cells. Total recovery of the plant varies between 83-87 % depending on ore type and operating conditions."

Jan 1, 2000

By Emilie S. Williams

The Doyon Mine?s Zone 1 (Altered Zone), found along the southern boundary of the mine, encompasses approximately 20% of the mining reserves. The mineralisation is found in a series of steeply dipping narrow veinlets, which are contained in an extremely weak host rock: a sericitic schist with RQD values ranging from 0 to 20. Longhole mining methods are used, with either longitudinal or transverse approaches, depending on the width of the ore zone. Dilution is of critical importance in the mining of this zone, particularly in longitudinal stopes, where dilution levels have averaged 55% since 2000. Major factors influencing dilution in this zone include the stope geometry and standup time. A two-phase approach has been developed to mine and backfill longitudinal stopes: the top of the stope is pastefilled after approximately half of the broken ore has been extracted; the remainder of the ore is extracted once the plug has cured; and the remaining void is filled. This method has been used in six stopes to date, resulting in an average dilution of 17%. This paper details the application of this technique and its effect on dilution.

Oct 1, 2004

By E. M. Stiles

THE Wellington Lake power plant of the Consolidated Mining and Smelting Company of Canada, Limited, about 25 miles from Goldfields, Saskatchewan, is the second hydro-electric project operating in that Province, the first being the Island Falls plant of the Churchill River Power Company which serves the operations of the Hudson Bay Mining and Smelting Company at Flin Flon, Manitoba. The Churchill River project develops 90,000 h.p. at 56-ft. head; the Wellington Lake plant 3,300 h.p. at 75-ft. with pro-vision for an additional 3,300 h.p. unit. Churchill River power is trans-mitted at 110,000 volts over a 58-mile line of steel towers to Flin Flon and an additional 45 miles over a wooden pole-line to Sherritt-Gordon. Our steel tower-line is 22 miles long, and the voltage is 60,000; this choice be-cause certain such equipment was available from Trail. The diversion of 15,000? second-feet at 56-ft. head for 90,000 h. p. at Churchill river dwarfs our 500 second-feet flow at 75-ft. head for 3,300 h.p. In both cases, the main obstacles to be overcome during plant construction were the lack of transport facilities and the short open season. Let it be noted here that this paper deals mainly with those phases of plant construction which were particularly interesting to the writer. With-out these variations from the ordinary routine, this is just another power project whose story is better told by the accompanying charts and pictures. To many members of the Institute it is still just that; but I am writing for those who, like myself, have been too seldom responsible for major under-rakings at an appreciable distance from a railway siding. When it was planned in early 1937 to erect a 1,000-ton mill at our Box mine, both hydro and Diesel power were discussed. With ten years' ore in sight, even an expensive hydro project, such as ours turned out to be, produces kilowatts materially below the 2-cent operating cost of a Diesel plant using fuel-oil at 14 cents a gallon.

Jan 1, 1940

By V. Balakrishnan, A. Hewitson

"The Kudremukh Iron Ore Company Limited, a government of India enterprise, has constructed iron ore mining, crushing, handling and concentrator facilities at Kudremukh, in southwest India. Concentrate produced is pumped 65 km to dewatering, storage and ship-loading facilities which were built at the same time at the sea port of Mangalore.A computer-based distributed process control system was implemented for all operations at Kudremukh and to interface with and monitor the Mangalore plant.The control system is examined from various standpoints, beginning with a description of its architecture, method of process input/output connection, and major hardware items.Software considerations and process applications are then looked at, with a review of the integration of the computer vendor's system software with user-developed applications programming. A control example of crusher operations is provided.Following the descriptive segment is a discussion of the design considerations and decision factors involved in the implementation of such a system considering the type of process and the remote nature of the installation site. It ends with a review of actual operating experience and conclusions regarding both this system and future similar applications.ScopeThe following is a discussion of the computer-based process control system applied for the Kudremukh Iron are Company Limited's ore handling, concentrating and shipping facilities located in South India.A general description of the process and plant equipment will be followed by an examination of the control system from the points of view of hardware and signal flow, software requirements, design considerations, implementation logistics and operating experience. Conclusions will be drawn concerning this and future computer applications."

Jan 1, 1984

"Under the term ""paleogeomorphology"" are grouped together all geo-morphological phenomena which are recognizable in subsurface geology. Since geomorphology is the science of the earth's relief features, paleogeomorphology is the science of buried relief features. Such features are of importance to the petroleum geologist whenever they lead to the trapping of hydrocarbons. In areas where these features abound -and western Canada certainly is such an area -pale-ogeomorphology ranks in importance with stratigraphy and structural geology as a hydrocarbon-finding tool. Hydrocarbons may be trapped either directly or indirectly due to paleogeomorphological processes. Both types of traps may occur either below the morphological surface or above (against) it. Several examples of types of paleogeomorphological traps are given. A new classification of geomorphological .features is proposed, with a subdivision into two main groups: constructive and destructive geomorphic processes. Of the many geomorphic classifications, some are of greater interest to the petroleum geologist in western -Canada than others. In the present paper the morphology of reefs and of buried erosional land forms are discussed in greater detail. In dealing with the reefs of the Devonian Leduc formation in Alberta, it is found that several groups of reefs can be distinguished and that each group presents a separate set of morphological characteristics. The effects of erosion and weathering are exemplified mostly in the Devonian, Mississippian and Jurassic of Alberta, Saskatchewan and Manitoba. Hydrocarbon traps occur below the highs on the erosional surface as well as in sands laid down in the lows of that surface. The rules which govern the formation of ancient landscape forms are worked out, using an area in southeastern Saskatchewan as an example."

Jan 1, 1960

By D Reddy Chinnasane

Outline Location of BirchtreeMine and Layout of 124 OB Cut and Fill Mining Background Purpose of the Studies Methodology Results and Analysis Conclusions and Recommendations

Oct 1, 2010

By R. Grimard, M. Gamache, L. -P. Bigras, P. Cohen

This paper describes a real-time fleet management system for an undergroun mine. Dispatching, routing and scheduling are handled simultaneously, taking into account the mine status, operational constraints and vehicle location information. Each assignment decision takes into account the traffic on the road segments of the mine network, whether road segments are bi-directional or uni-directional, and ensures that each LHD (load-haul-dump) vehicle arrives at loading and dumping points with the correct orientation. Such a system can be used either as a simulation tool for strategic planning or as a real-time managing and optimizing system for operations. In the simulation mode, the system can accurately estimate the impact on productivity of decisions such as the development of waiting areas (bays, sidings), or the addition (elimination) of vehicles to the fleet in operation. When used for real-time dispatching, routing and scheduling of vehicles, the system can optimize production with respect to various assignment criteria such as cycle-time minimization or deviation from a target production plan.

Jan 1, 2004

By Zhuo Chen, Jun Zhou, Jiemin Zhou

Samples of the reacting suspension particles were taken from the reaction shaft of a commercial flash furnace at different heights. The processes of matte and slag formation and morphology of the samples in the shaft were observed and analyzed. Variations of matte and slag composition in the shaft were investigated. By analyzing the samples taken from the settler at different locations, settler processes were studied such as slag formation, agglomeration and separation of matte-slag phases, Fe3O4 reduction, copper-in-slag reduction etc. In accordance with the characteristic of matte and slag formation the flash furnace can be divided into 6 functional regions, and a mechanism model called as “Micro bath process” is proposed for matte and slag formation in a commercial flash furnace. INTRODUCTION During flash smelting, concentrate particles scattered in the reaction shaft complete their oxidation reactions in suspension. The droplets produced fall into the settler beneath with a small amount of un-melted solid particles, agglomerate and separate into matte and slag layers which are tapped out from their tap holes separately. With respect to the extent of slagging reaction in the reaction shaft, there isn’t any commonly accepted understanding in literature (Kimura, Ojima, Mori & Ishii, 1986; Kemori & Kondo et al.,1988; Kemori, Denholm & Kurokawa, 1989; Fagerlund &Jalkanen, 2000). Some assume that the slagging reaction in the shaft can be ignored and some propose that all slag is produced in the shaft. With regards to the characteristics of the physical-chemical changes of concentrate particle in the reaction shaft, although there are some research results reported from pilot scale and commercial scale experiments (Kemori, Ojima & Kondo, 1988; Hagni, Vierrether & Sohn, 1988; Jorgensen, Taylor, Dickinson & Stevenson, 1992; Swinbourne, Simak & Yazawa, 2002; Kivinen & Tuominen, 2005), they are generally limited themselves to theoretical analysis and calculations. No studies are published concerned with the processes of matte and slag generation in the shaft, quantitative analysis of the processes, variations of matte and slag composition and morphologies of the melts along the axis of the shaft, etc.

Jan 1, 2019

By M. Kerr, Petra Lampinen, Jinming Zhang, Petra Brodin, C. Hull, Nils-Johan Bolin, R. Asmatulu

"According to Darcy’s equation, the rate of dewatering varies as inverse square of the surface area of the particles to be dewatered and is proportional to the pressure drop across a filter cake. Thus, the difficulty in dewatering fine mineral concentrates can be overcome by using high-pressure filters. When treating ultrafine particles, however, it is often necessary to further dewater the filter cake using a thermal dryer. In the present work, novel dewatering aids that can reduce the pressure requirement have been developed. The reagents are designed to reduce surface tension, increase particle hydrophobicity and increase capillary radius, all at the same time. They were tested for dewatering mineral and coal concentrates in both laboratory and pilot-scale tests. The results show that the use of the novel dewatering aids can substantially reduce cake moistures and, at the same time, increase throughput. In this communication, the case history of using the reagents commercially at the Garpenberg concentrator is given. The use of the novel dewatering aids allowed the operators to use a vacuum filter to obtain desired cake moistures and obviate the need to use a thermal dryer.INTRODUCTIONDewatering is an integral part of mineral and coal processing operations, as it is necessary to remove water from concentrates (or clean coal) to minimize shipping costs, meet contract specifications, and recycle the process water. In general, the cost of dewatering increases with decreasing particle size, which can be attributed to the difficulty in removing the water trapped in the pores (or capillaries) formed between the particles constituting a filter cake.The various parameters affecting the process of dewatering, including the effect of particle size, can be understood in view of Darcy’s equation (Darcy, 1856):"

Jan 1, 2005

By M. Leroux, S. R. Rao, J. A. Finch

"Poor Pb-Zn selectivity during Pb flotation in laboratory tests on a Mississippi Valley-type Pb-Zn ore was traced to apH effect. In the pH range, 9.5 to 11.0 sphalerite floated readily without copper activation. Compared to sphalerite flotation with copper activation this procedure gave equivalent selectivity but reduced flotation rate.Possible mechanisms of this sphalerite flotation without copper activation are discussed. Activation by Fe(OH)2 is suggested, the Fe- + ions being derived from superficial oxidation of pyrite in the ore. IntroductionGalena and sphalerite commonly occur together. A typical procedure, using xanthate collectors, is to float the galena first, at pH - 8, followed by flotation of sphalerite after activation with copper (II) sulphate at pH - 10 (to depress pyrite).Flotation tests following this procedure in an undergraduate laboratory course with a Pb-Zn ore from Polaris failed to achieve consistent selective flotation of galena. Occasionally a considerable amount of sphalerite, even though unactivated with CUSO4, floated. This was traced to accidentally high pH. A systematic study was carried out which revealed that sphalerite floated readily in the pH range 9.5 to 11.0 without activation by CuSO4 This paper describes the results of the study and discusses a possible mechanism of this flotation of sphalerite."

Jan 1, 1987

By Dwight Newman

This paper discusses the author?s work identifying international law norms of consultation with indigenous communities and poses a potentially counterintuitive argument that corporate stakeholders? interactions with indigenous communities may have effects on the content of those norms. The claim is counterintuitive because the international law of pertinence is customary international law, which arises from consistent state practice and opinio juris (a belief by states that they are acting in a way they are legally bound to do so). Customary international law traditionally has no reference to corporate conduct per se. The paper first surveys several sources on developing international law on consultation obligations. Then it references the impact these norms can have on corporate stakeholders in industries like mining. Then, it poses an argument as to an economic ratcheting effect that can occur through various agreements between corporate stakeholders and indigenous communities that then feeds through into international law via several mechanisms. The consequences for mining companies are diverse and include the possibility that conduct by one company can have longer-term implications for the obligations of other companies and, indeed, of states. The effects will differ in the context of different competitive environments and may actually have effects on the economics of different competitive models.

Aug 1, 2013

By N. Shi, T. G. Joseph

The design of dippers for cable shovels has essentially remained unchanged for the last 100 years. In the past 10 years, shovel manufacturers have started taking another look at dipper design, resulting in changes that have borne models from major manufacturers that address some of the wear conditions and material retention problems that dominate maintenance and operational costs. However, with the exception of added lateral curvatures to the front and corners of the dipper, the geometry is essentially unchanged. This paper looks at the criteria that have resulted in the first new cutting dipper design in a century. The design is based on kinematic considerations, reflected in a revolutionary geometry that matches the range of motions of the shovel, designed to minimize wear, impact loading and power required to dig, thus maximizing productivity for a minimum energy requirement. The shape configuration is such that the weight of the dipper is reduced through wall thickness, enabling a larger capacity dipper to be conceived for the same shovel. Benefits are reflected in reduced operational and maintenance costs and increased productivity.

Jan 1, 2006

By J. Lovering, M. Allan

"INTRODUCTIONThe Afton Mines property is located 180 air miles east-northeast of Vancouver and nine miles west of Kamloops, a city of 60,000 people in south central British Columbia. The deposit is located adjacent to the Trans-Canada Highway at an elevation of 2,231 feet above sea level.Interest in the property dates back to 1898, when a 330 foot shaft was sunk on the Pothook claim immediately south of the existing operations. Since that time many companies and individuals have investigated the possibilities of the area but it was not until 1972 that Afton Mines Ltd. located a significant zone of copper mineralization. The feasibility study was completed in the period 1974-1975, by Teck Corporation Ltd., who control Afton through 50% direct ownership and 65% ownership of Isa Mines, who own a further 23%. Construction began in March, 1976. Ore production started in August, 1977, and the first ore was fed to the mill on December 8. This was the third mine to be brought into operation by Teck since 1975, the others being Newfoundland Zinc and Niobec.The orebody is a porphyry copper deposit which has undergone supergene alteration. It is 1,700 feet long in a west-northwest by east-southeast direction, 300 feet wide and dips at 55° to the south. The mineralization in the supergene zone, which accounts for two-thirds of the known deposit, is rather unusual in that the copper is present primarily as native copper and chalcocite. The grade is one percent with the distribution: 70% native, 25% chalcocite, and 5% chalcopyrite with bornite, covellite, and cuprite."

Jan 1, 1979

By Nick D. Rose

The Dy deposit is a 21 Mt Pb-Zn-Ag-Au SEDEX-type massive sulphide resource located in the Anvil District, Faro, Yukon. This relatively unexplored orebody lies at a depth of 480 to 920m below surface, dips 20 to 35o and comprises vertical ore thicknesses of 3 to 28m at a 9% Pb + Zn cut-off grade. The deposit has been tested at depth with 63 surface diamond drillholes, but has not yet been explored or developed by underground means. Over the past decade, pre-feasibility investigations were conducted for two separate owners of the property to determine the economic viability of developing an underground mine at Dy. Following these previous studies an assessment was undertaken between 1998 and 2000 to further investigate geotechnical considerations for underground mining. The results and conclusions drawn from this study provide direction for possible future exploration at Dy.

May 1, 2002

By R. D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market. IntroductionMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. This paper will concentrate on market-based approaches to valuation of such properties. Other authors at MM2000 presented papers on cost and income approaches. Sorentino (2000) also provides a useful overview with some provacative commentary on methods.Market based-approaches are based on the principle of substitution and include such techniques as: comparable transaction analysis (sometimes referred to as sales comparison analysis); farm-in commitment (or option agreement) analysis; rules-of-thumb; and comparable market value analysis.Are there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2002