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By G. Tamaro

The World Financial Center is situated on a 60,000 square meter site at Battery Park City at the southern tip of Manhattan Island. The foundations for the buildings and the related infrastructure posed difficult design and construction problems since the site was filled land in the Hudson (North) River. Foundation construction was made difficult by both the geology and the existence of two railroad tunnels which passed under the site. The soils at the site were unsuitable to support construction of heavy structures, and as a result, all of the foundations had to be carried down to bedrock, or the glacial till over rock. Two buildings were supported on piling and special battered caissons which provided lateral support against wind loading. The other two buildings were supported directly on rock, requiring excavation to depths of 19 meters (63 feet) below grade.

Jan 1, 1989

By Hebert Arias, Christian Mendoza, Mervin Tapia

El Complejo Pasco —ubicado en la Cordillera Oriental de los Andes de la sierra central del Perú, en el distrito de San Francisco de Asís, provincia y departamento de Pasco— está constituido por las unidades subterráneas de Atacocha y Porvenir, la operación a tajo abierto Glory Hole y tres proyectos brownfield ubicados en la periferia de la concesión. Tanto Atacocha como Porvenir son depósitos tipo skarn, con mineralización distal de Zn y Pb(+/-Au) y proximal de Zn+/-Cu, asociados a cuerpos hipoabisales de composición cuarzoandesítica y andesítica. Estudios y exploraciones recientes muestran otros tipos de sistemas mineralizados, como brechas tectónicas con reactivación hidrotermal tardía, un sistema epitermal de sulfuración intermedia en vetas, cuerpos irregulares, entre otros, y un sistema tipo pórfido. La Falla Milpo-Atacocha, de rumbo N-S, juega un rol importante, ya que los intrusivos (Stock Milpo y Santa Bárbara) que generan la mineralización del tipo skarn están controlados por esta falla. Existe otro tipo de mineralización, asociado al sistema NW-SE (Falla 13): un sistema epitermal de sulfuración intermedia. Este trabajo pretende mostrar los últimos avances en las interpretaciones metalogenéticas, producto de un intenso programa de exploración (aproximadamente 80,000 m. DDH / 2018) y de un programa de recategorización de recursos (a través de 60,000 m. DDH), que permitirá hacer posible una operación sostenible de 12 años.

May 22, 2019

By C. Schuffeneger

"The design of SAG milling circuits for mining projects requires the incorporation of the energy consumption considerations and the evaluation between different flexibility-adding options to absorb the time-dependent variation in the ore lithology. In order to expand the focus of the engineering design, a higher level of deepness and quality in the baseline information must be achieved to elucidate all of the constraints on throughput, energy consumption and product quality generating a design optimization consistent with an integrated vision of the process. This paper presents a review of a collection of typical examples of the copper and gold mining project in the Chilean Andes, in which both process and energy efficiency criteria are considered when the focus is to deliver an integral solution that incorporate those areas in the design. The intensive use of energy in the SAG milling, the process continuity and the quality of the product are a function of the proper design and selection of grinding equipment and plant layout, aligned with the mining plan and associated with projected future expansions and production increases.INTRODUCTION Autogenous and Semiautogenous grinding technology, large diameter and short length mills, begins with the Handsel design. During the decade of 1930’s, Handsel-Hardinge studies led to cascade mill development. Nowadays, 80 years later, continuous improvements in design and technology have been conducted to a completely new generation of gearless SAG mills that have led to an increasing capacity at the concentrator plants. Considering the existing alternatives, SAG mills are the most implemented option for the grinding circuit today. This work presents a review of the SAG mill implementation parameters and circuit considerations and its correlations in the most recent projects in Chile with an ore treatment capacity above 50 ktpd since the decade of the 90’s up to now. From this period, the tendencies will be analyzed using project design data. Based on process design information, the recent SAG mill history in relevant projects related to the new generation of commercial SAG mills, technical associated considerations and performance will be discussed. Circuit selection based on energy utilization will be revised to bring up a more holistic perspective on the SAG mill circuit design concepts. As is now well known, the heart of every concentrator plant are the grinding mills. Higher demands on throughput, availability and power consumption optimizations require not only high performance electrical equipment but also a well selected grinding circuit. The energy efficiency issues associated to the circuits design will be reviewed."

Jan 1, 2012

The Wongawilli system of mining has been in use for over 30 years and has enabled high production rates and acceptable extraction ratios to be achieved in seams less than 4 m in thickness. A modification of the Wongawilli system has been developed to permit the use of a continuous miner and mobile equipment to extract a coal seam 6 m thick. Following physical and mathematical model studies the new mining method is now undergoing field trials at Collinsville, Queensland. Progress of the field trials to date has achieved 99 per cent extraction of the upper slice by remote control operation of the continuous miner and established the feasibility of installing resin grouted wooden dowels in the coal floor to reinforce the coal septum. The method is explained in the text. Monitoring of the goaf gases as an early indication of spontaneous combustion has been incorporated in the mining cycle by placement of tubes in the goaf as the face retreats and continuous analysis of the goaf gases made at the surface by the National Coal Board tube bundle monitoring system.

Jan 1, 1980

By Moyle F. J

This paper describes an apparatus which was developed to study solid-vapour equilibria and presents results which were obtained during a study of the FeCI3-AlCI3-CI2 system. Analysis of the results showsthat fractional desublimation might offer a means of achieving a useful separation of the iron and aluminium chlorides produced by the chlorination of bauxite. The results, presented in the form of isothermal vapour pressure curves covering the range of temperature 160-200°C, support the earlier findings of Semenenko et al (Dokl Akad Nauk SSSR, 154: 42-43 (1964)) that the solid phase contains two terminal solid solutions.The equilibrium constant for the formation of the mixed dimer, FeAICI6, was approximately 4. The latent heat of sublimation of aluminium chloride varied from 18 to 26 kcal/mole AI2CI6 for solid compositionsfrom 0.9 to 0·5 mole fraction FeCls3.

Jan 1, 1979

By Brian Fulcher, Michael Bell, Shimi Tzobery, Werner Burger, John Bednarski

The Arrowhead Tunnels Project represents the final portion of a 70 km (44-mile) long water conveyance facility that will bring up to 28 m3/sec (1,000 ft3/sec) of water into Southern California. The 13 km (8-mile) tunneling project is well underway and consists of two, 5.8 m (19-foot) diameter TBM bores through extremely variable geological conditions. The tunnels lie near the base of the San Bernardino Mountains and several significant faults including the San Andreas Fault run within one kilometer (0.6 miles) of the tunnel alignment. Numerous other significant faults cross the tunnel alignment and water pressures in the tunnel have been recorded as high as 20 bar (300 psi). This paper describes some of the problems and challenges encountered and the solutions implemented to advance the two hybrid TBMs under conditions that ranged from hard rock with no water inflows to full-face granular material under 10-bar pressure and in excess of 32 l/sec (500 gpm) inflows. Due to the range and severity of ground and water conditions actually encountered, the Owner-Contractor-Designer team eventually found that adjusting the means and methods to be more responsive—virtually on a day-by-day basis—was needed to suit the conditions

Jan 1, 2007

By K. Kawakami

In Japan, pile foundations have been used extensively for buildings, bridges and port facilities. A large number of steel pipe piles were first used in the 1960's and the amount of steel used in foundations increased by 1973 to one million tons. This report describes current practice in the actual use of large diameter and long steel pipe piles in Japan, related to their performance: including consideration of pile size, hammer types used for driving the results of field tests measuring stress occurring in the piles and the driving formulae currently being used in practice in Japan.

Jan 1, 2010

By Mohan K. Wali

Soil and vegetation development were studied on abandoned mine sites near Velva in Ward County, North Dakota. The sites studied were 1, 7, 17, 30 and 45 years old since abandonment; unmined sites were also studied to provide measures of comparison. Species diversity was the highest at unmined sites (114) and lowest at the I year old site (26); sites 7, 17,30 and 45 years old had 37, 52, 43 and 68 species, respectively. Stand ordination revealed that site ages were the most important in influencing species diversity and composition. Stand-environ-mental complex ordinations encompassing 53 variables showed topographic variables to be the most important followed by site ages. Rates of nutrient accumulations were as follows: organic carbon 13.1 g m-2 yr-1; nitrogen 2.5 g m-2 yr-1; phosphorus 0.01 g m-2 yr-1; potassium 0.49 g m-2 yr-1. Carbon-nitrogen ratios showed the widest range for 1 year old sites (5-40) but 70 percent of the 45 year old sites showed values below 15 which were com-parable to the unmined mixed grass prairie sites. Species distributional diagrams are provided to show their habitat preferences which may be helpful in formulating species prescriptions for revegetation.

Jan 1, 1982

By Robert Bakish, William D. Robertson

AFTER more than fifty years of investigation and continuing failure in service, a satisfactory mechanism to explain stress corrosion cracking in homogeneous alloys is still lacking. The relative chemical activity of grain boundaries and adjacent grains, inferred from the boundary structure, has been used to explain intergranular cracking in a brass.' This concept is probably correct as a general hypothesis, but it requires much more extensive development in order to explain satisfactorily the observed phenomena. For example, the specific function of the solute in an alloy must be considered, because intergranular failure does not occur in pure metals,' which are structurally similar to homogeneous alloys. Also, in this connection, an inter crystalline fracture path in binary copper alloys can be changed to a transcrystalline path by relatively small ternary additions.' The fracture path in ß brass is predominantly transcrystalline,' in contrast with an inter crystalline path in a brass. Whether the two different fracture paths are the result of a difference in composition, crystal structure, or the state of long range order is unknown and cannot be determined with ß brass, because only the ordered state can be obtained at room temperature. The study of chemical activity at structural sites in the Cu-Zn system is restricted by the formation of opaque films in an ammonia environment in which stress corrosion cracking is generally observed. Furthermore, both components of the alloy are chemically active and the interpretation of observations is therefore relatively complicated. The Cu-Au system is a better choice for the purpose of studying structural factors. In particular, CuAu is very susceptible to cracking in ferric chloride and opaque films are not formed in this solution; it may be obtained in different states of long and short range order; and, finally, only copper is oxidized in dilute ferric chloride, which considerably simplifies the chemical problem. To provide information necessary for a more general explanation of stress corrosion cracking in homogeneous solid solutions, the following structural factors have been investigated in a Cu-Au alloy having a composition corresponding to Cu,Au: 1) the effect of long and short range order; 2) the structural sites from which copper is removed from the annealed and cold worked polycrystalline alloy; and 3) the effect of annealing time and temperature on structural reactions in the cold worked alloy. Experimental Procedure A Cu-Au alloy of nominal Cu3Au composition was cast from cathode copper and high purity gold and fabricated into sheet and wire. Chemical analysis for copper and gold indicated 48.92 wt pct Cu and 51.01 pct Au. Quantitative spectrographic analysis indicated 0.01 pct Ag, 0.002 pct Pd, 0.001 pct Pb, and 0.002 pct Fe, with traces of magnesium, silicon, and zinc. Presumably most of the remaining 0.055 pct corresponds to the limits of analytical precision. Heat treatments of wire and sheet were conducted in argon or vacuum. Wire specimens, 0.064 in. diam, were heated for 1 hr at 850 °C to establish a definite

Jan 1, 1957

Viscosity measurement was carried out over a narrow range of silica content around the fayalite composition. A wide range of temperature and oxygen potential was covered where the slag was completely liquid. In order to keep the slag composition and the Fe3+/Fe2+ratio constant, theCO2/CO ratio was kept constant as the temperature was varied. Increasing the Fe3+content has little effect on viscosity for slags with a silica mole fraction of 0.31. At higher silica contents, increasing the Fe3+content brings about a small decrease in the viscosity.

Jan 1, 2004

By E. Mongilardi

The construction of large underground openings through cohesionless or weak cohesive soils and under the water table in particular, often requires a ground improvement to be done from the surface or ahead of the excavation face in tunnelling problems. To this purpose various injection procedures have been used in the past and new outstanding techniques have been developed recently, such as "jet-grouting", extending the feasibility range. The paper presents a review of basic principles and practical design criteria with particular reference to the newest trends of development. Case histories have been selected within the experience of specialist contractor Rodio Co. showing the variety of problems solved by manifold grouting procedures and layouts, in widely different soils ranging from the sandy-gravelly alluvia of Milan to the soft marine clays of Singapore.

Jan 1, 2010

By J. Allan Tice

In the past fifteen to twenty years, the use of drilled piers to support high capacities in coastal plain deposits has become more and more common. With improved construction techniques and better understanding of pier behavior, drilled shafts with capacities of 200 to 500 tons are not unusual. The purpose of this presentation is to review several drilled pier installations from North Carolina to north-east Florida as a means of illustrating the different types of design concepts and installation techniques which are presently being used. ACKNOWLEDGEMENTS The information in this presentation was obtained from work performed by many individuals and companies. The section on limestone socket caissons in South Carolina is an abridged version of a paper prepared by Rob Smith and Neil Gilbert of Law Engineering's Charlotte, North Carolina office, and is used with permission. The section on pier installation in northeast Florida is an abridged version of a paper prepared by Kirk Mcintosh, Tom McDaniel, and Randy Knott of Law Engineering's Jacksonville, Florida office, reprinted here with permission. Additional data discussed in this presentation has been obtained from Farr Foundation Company, McKinney Drilling Company, and Peterson Drilling Company.

Jan 1, 1988

By Zhang Chuanfu

Keywords: modified coprecipitation method, Ni-Co alloy powders, solid-solution oxalate, growth mechanism Homogeneous solid-solution oxalates of Ni2+ and Co2+ ions were synthesized by modified coprecipitation method and the composition and morphology of the fibrous solid-solution oxalates precursor were characterized by XRD, IR, DTA/TG and SEM analysis. The effects of feeding methods, pH values, precipitation temperature, reactant concentration, addition surfactant, alcohol washing and drying process on the morphology and dispersion of the precursor were investigated in detail. The experimental results showed that the coprecipitated powders have characteristics that are different from those of the mechanical mixtures with the same stoichiometry. Based on the observations of precursors growth and SEM morphology of the precursor, the oriented attachment was proposed for the well-aligned growth of the fibrous Ni-Co alloy precursor particles.

Jan 1, 2005

By H Kurth

Geoscan is used for multi-elemental analysis of conveyed bulk materials in real time. It has been used for coal analysis since the 1990s, in the cement industry, and since 2003 for measuring mineral ore quality. Geoscan-M has proven performance and demonstrated paybacks of weeks or months, in iron ore, manganese, copper, zinc-lead and phosphate industries. Geoscan-M measures continuously through the full bed depth and is unaffected by belt speed, particle size, layering and dust levels. Increments of two minutes (typically one to five minutes) are accurately measured and provide the plant operators with tonnage weighted results of each element within seconds.A Geoscan installed after crushing is able to measure quality shortly after mining. The analysis results can be used to divert the increments based on composition, such as diverting waste for disposal and diverting marginal material to a stockpile for processing at a later date. The bulk sorting process allows different qualities to be placed into relevant stockpiles for subsequent blending. Material meeting product DSO (Direct Shipping Ore) quality can bypass a beneficiation circuit to prevent unnecessary treatment costs. An analyser in a blending application enables proportioning of different quality feed materials from multiple stockpiles to achieve a desired compositional consistency for process feed. The parameter used for decisions may be; a) primary metal content, e.g. Cu, Fe, P, etc. b) deleterious component content, e.g. Mg as an indicator of talc content, c) process parameter content, or a combination of these. Process parameter content may be the elemental ratio between critical components, e.g. Cu:S ratio, Fe:Si ratio, basicity, Lime Saturation Factor, etc. or the content of an “indicator” element, e.g. Si as an indicator of material hardness or grindability.Measurement of the composition in real time enables prompt feedback to the mining operators and also feed forward to the process operators. Compositional variability can be critical in the process and advance warning enables appropriate reactions prior to processing. This may include modifying the feed rate, changing the feed blend (through additives), or modifying reagent dosing in anticipation of a change in feed quality. Benefits include, but are not limited to; reducing waste processing, improved feed grade stability, reducing energy, water and grinding media consumption, producing less tailings, increasing process efficiency, higher metal recovery, better plant utilisation, reducing plant downtime, better utilising mined material, all achieved using the same process plant throughput capacity.CITATION:Kurth, H, 2015. Optimising plant feed quality and process performance using Geoscan elemental analysis, in Proceedings MetPlant 2015, pp 373–380 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

By G Chitombo, D Francis, P C. Stewart, I Brunton

The ability to precondition (weaken) a rock mass to enhance caving (cavability and fragmentation) is becoming increasingly important, as more potential caving deposits are in stronger rock masses, and at greater depth. This paper discusses a full-scale blast preconditioning experiment conducted at the Cadia East mining operation, including quantification of visible and microscale blast damage. From a cave mining perspective, the objectives of the experiment were to quantify the effect of confined blasting on rock mass characteristics relevant to enhanced caving, and to provide calibration data for the purpose of numerically modelling alternative blast preconditioning designs.The experiment was located approximately 360 m below surface, and consisted of two f165 mm blastholes (60 m vertical holes) and eight HQ diamond drill monitoring holes (35 m horizontal holes). The diamond drill holes were used to sample the rock mass before and after the blast at varying distances from the blastholes. Rock mass blast damage was quantified both visually using core logging, and on a microscale using LABYRINTH® statistical analysis of X-ray microtomography data. Results from the experiment indicated four major findings:on the visible scale, the experiment indicated a 147 per cent increase in the number of hairline cracks within 5 m (p value = 0.015), but no change in geotechnical logging parametersmicroscale tomography of intact rock samples indicate significant localised intact rock damage up to 4 m from the blasthole (p = 0.007)preliminary point load test results indicate that blast damage results in a significant reduction in intact rock strength (p = 0.050)the significant increase in porosity and microfracture size associated with damage provides a mechanism for reduced intact rock strength due to confined blasting.CITATION:Stewart, P C, Brunton, I, Francis, D and Chitombo, G, 2016. Quantification of rock mass damage associated with a confined blast preconditioning experiment at the Cadia East block cave, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 119–132 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By David Flores, Benjamin Cebrian

Gold mining require high levels of dilution control due the high value of ore. These types of operations employ short benches, which are suitable for ore control, lower displacement and more representative block models. However, shorter benches makes fragmentation by blasting difficult because blast designs tend to be stiff in regards to burden/bench height ratio. This is especially relevant in hard, massive ore bodies where usual drilling diameters lead to poor energy distribution. In regards to control ore loss and dilution, there are different techniques to minimize both, which include: panel blasting, buffer blasting to muck piles and differential loading of areas of the blast bench. All of them should be sequenced with appropriate displacement along the ore/waste contacts. This paper describes extensive engineering approaches to achieve both dilution control while not hurting fragmentation in the very hard, massive ore sections of a mine case study. Ore Tracker microchips are used to correlate performance of these designs at the SAG mill (bottleneck of this specific operation). Another gold mine uses the same technology to detect when and where operational dilution is happening. The system tells where flagging of the different ore bodies has been followed in order to detect which operators pass the excavation limits beyond ore control flagging.

By Roberts W. P H, Chant R. A

Investigation of the "whole-rock" major element geochemistry of the Broken Hill lodes and of the rocks immediately enclosing them has been carried out on the full lengths of 19 diamond drill cores transecting B lode,A lode, No. 1 lens and Lead lode in The Zinc Corporation Ltd.-New Broken Hill Consolidated Limited, at the southern end of the line of lode.It appears that the abundances of all of the principal "non-sulphide components" - Si02, AI2O3, Ti02, CaO, MgO, MnO, K2O, TiO2 and P203 - are closely tied to the incidence of sulphide. The well-known direct relationship of calcium and manganese with the incidence of sulphide is confirmed, and to this is now added the pairing sulpnide-phosphate, which is particularly welldeveloped in the zinc lodes. It is also now shown that there is a clear inverse relationship between sulphide on one hand and AI2O3, Ti02 , MgO, and K2O on the other.Total Fe-which is an important constituent of both sulphide and non-sulphide-appears to occur in essentially similar amounts in ore and enclosing materials. The incidence of Na20, while generally depressed in ore, issomewhat erratic and equivocal. Si02 and sulphide usually show a highly systematic inverse relationship-a feature stemming inevitably from their being by far the two most abundant, and hence two co-dominant, materials ofthe ores.These features of elemental abundance are interpreted in the context of seaflooor hydrothermal ore deposition to give some insight into the amount and nature of detrital and of chemical sedimentation, the formation and accumulation of different clay minerals, the chemical and physical characteristics of the bottom waters, and the reasons for the comparative paucity of iron in the Broken Hill lode.

Jan 1, 1978

By P Atkinson, M P. Simpson, J R. Kyle

BM37 is a bonanza-grade (>30 ppm Au) ore shoot of the Maria Lode of the Karangahake adularia-sericite epithermal deposit in the southern Hauraki Goldfield. Samples from BM37 contain up to weight percent gold. The ore shoot is a vein that pinches and swells, but is typically tens of cm thick, and locally exceeds 0.5 m in true width. Gold occurs as irregular anhedral electrum grains that range up to 300 microns across and contain 38 to 59 wt per cent Au (ave. 52 wt per cent Au). Electrum occurs in sulphide-rich bands in association with pyrite, chalcopyrite, acanthite, galena, sphalerite, and local covellite. Lower grade samples contain local to rare mckinstryite [(Ag, Cu) 2S] and polybasite [(Ag, Cu) 16 (As, Sb) 2S11]. Pyrite from BM37 is nearly stoichiometric; it lacks the As that commonly occurs at up to percent levels in pyrite from other veins in the goldfield. Acanthite also contains low quantities of trace metals, and typically has less than 2.5 per cent Se. The vein shows complex textures. Bonanza grade sulphide-rich ginguro bands form discrete layers adjacent to the vein margins, and occur as breccia fragments encased by later massive to comb quartz with local quartz after platy calcite. Both the breccia fragments and ginguro bands are cross-cut by later quartz veins. Textures thus indicate that formation of the high-grade portions of BM37 resulted from one or more discrete events that differed markedly from the events that formed the bulk of the vein.

Jan 1, 2006

By Jacob Masliyah, Zhiang Zhou, Tshitende Kasongo, Jianjun Liu, Zhenghe Xu, Jeawon Choung

"Slime coating is a recognized challenge in fine particle flotation, not only in decreasing recovery, but also in reducing the selectivity and hence froth quality. In this presentation, a novel method based on electrophoretic mobility distribution measurement to study slime coatings is described. By measuring electrophoretic mobility distribution of individual minerals and their mixtures, the interactions between these minerals can be evaluated.For illustrative purposes, a model system of fine coals, or oil sands with two different types of fine clays was studied. Flotation tests showed a significant decrease in coal (bitumen) flotation recovery with montmorillonite but not with kaolinite clay addition. When electrophoretic mobility distribution of a fine coal/montmorillonite clay mixture was measured, a single modal zeta potential distribution was obtained, in contrast to a bimodal distribution for fine coalkaolinite clay mixture. This finding suggests a stronger adhesion of montmorillonite than kaolinite clays on fine coal surfaces. In the case of bitumen, the bimodal zeta potential distribution was measured for the mixture of bitumen emulsion and kaolinite or montmorillonite, indicating a weak attraction of the clays by bitumen. In the presence of calcium, however, a single modal zeta potential distribution was obtained in the mixture of bitumen emulsion with montmorillonite but not kaolinite clays. These findings are in excellent agreement with bitumen flotation results, demonstrating that the electrophoretic distribution measurement is a powerful tool to study slime coating phenomenon in a complex fine particle flotation system."

Jan 1, 2002

The spatial distribution of copper grades at the Mansa Mina project is highly variable due to the presence of high grade copper/silver/arsenic breccia bodies. Copper grades within the breccia bodies tend to average about 4.5% copper while grades in the surrounding stockwork average about 1.0%. The breccia is known to occur in the vicinity of significant controlling structures, however, the outline and therefore the thickness of the bodies are far from regular. Due to the high grade of these bodies a significant proportion of the value of the project is derived from the breccia tonnages. The irregularity in the outlines/thickness translates into an uncertainty in the breccia tonnage and therefore in the value of the project. Acknowledging the economic importance of the breccia bodies and the risk associated with the breccia tonnage uncertainty, significant additional drilling has been proposed to both understand the spatial distribution of the breccias and reduce project risk. The costs associated with this additional drilling are not inconsequential; thus, a reasonable question is ‘what value is derived from this additional drilling’? To obtain an answer to this important question, a simulation approach is applied. First the deposit is simulated using the existing drilling and the uncertainty in the resource is defined. Next the proposed drilling program is simulated and the simulated data are added to the existing data. Using this expanded data set a second simulation of the deposit is created and once again the uncertainty in the resource is defined. Using this approach, the reduction in the uncertainty in the resource can be determined. To convert this reduction in uncertainty (or reduction in risk) in the stated resource into a dollar value, a method of defining the increase in the project rate of return necessary to account for risk is presented. Using the two different rates of return, the difference in project NPV and hence the value of additional drilling is determined.

Jan 1, 2003