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By Michel David

"The usual complaint of mines is that grade does not match exploration expectations. Quite often, more tons are mined than expected but at a lower grade. This can be seen as dilution. Geostatistics can help predict which dilution can be expected both in terms of grade and tonnage for different mining methods.The usual vocabulary of geostatistics speaks of block distribution; block variance, size effect, information effect, all terms which say very little to the practitioner. In f act, all this can be rephrased in terms of dilution .In this paper, the following is presented - an example which shows how reserves change with the size of selection units and number of samples taken, and tables which show the dilution that are bound to happen when dealing with the commonly encountered log-normal distribution. Finally, the paper shows how grade tonnage computations should be made in the case of an arbitrary distribution. IntroductionGeostatistics progresses more and more rapidly if one judge s by the number and quality of papers published in Mathematical Geology or at APCOM meetings. More and more case studies describing successful applications are published (David et al., 1986)(Kwa and Mousset-Jones, 1987). It is estimated that more than 270/0 of the gold mines around the world use geostatistics. There is still, however, a lot of resistance from the remaining 73%. Geostatistics has more formulae and equations than it needs to reach year 2000. We will be well into the third millenium before all the models available now are actually used. The progress may come in the form of finding better ways to present known statistical results and getting away from the jargon of geostatisticians. One example may be in trying to explain how we can answer the most common plea of the mining industry: production grade is not what was expected in the feasibility study."

Jan 1, 1988

By M. Scobie, T. Atkinson

"This paper reviews the development of new designs in extensible and high angle conveyor systems. These aim to overcome the limitations of prior alternative concepts in design. The application of such systems in strip, terrace, open pit and mountain mining is reviewed. IntroductionTruck haulage costs have tended to escalate in recent years. This has been primarily due to operations generally moving to greater depths with associated increases in haul distances . Periods of high inflation rates have also been experienced for diesel fuel oil, tires and other petroleum based products. Recent international political events have tended to regenerate concerns over future oil supply and price stability. For such reasons, conveyor based transport is becoming increasingly attractive. Truck haulage maintains an inherent flexibility and improvements continue to be made in performance and capacity. Doubts must exist, however, over the extent to which further economies of scale may be made. Conversely, belt conveyor systems do not suffer this constraint and have the following advantages:• Electrical power is used and the specific energy consumption is at least half that required for truck haulage.• Operating costs and skilled labour requirements are lower.• Equipment has superior longevity and is ""inflation proof"" .• Access roads can be steeper and narrower in most mine environments, reducing construction and maintenance costs.• They are less prone to breakdown and bad weather delays .• In long haul, high capacity operations conveyors can save substantially on capital cost.• Environmental impact is improved with reduced noise level, dust and atmospheric pollution. Although conveyor systems are less flexible in operation than truck haulage and although a breakdown in any part of the system can immobilize the total system, mechanical availabilities of + 80% are constantly reported by large operators. There would appear in the past to have been some prejudice against conveyor systems in hard rock mines due to lack of experience. Apparent reservations would apply equally 10 underground coal mines, yet practically all of these mines (and some underground hard rock mines) find conveyor systems more economical than other transport systems."

Jan 1, 1991

By F. Kapeller, G. Herget

"The need for monitoring the effect of changes in ground stresses due to mining in hard rock has existed for many years. The Mining Research Laboratories of CANMET, EMR have developed a new tool which monitors with high precision the radial deformation in boreholes. The result is the Mining Research Laboratories strain monitoring system (MSMS) which uses the highly stable and very sensitive vibrating wire principle to monitor deformations in relatively large boreholes, e.g. 76 mm to 153 mm diameter.The vibrating wire is strung across a relatively large proving ring and operates at a frequency between 600 to 1800 Hz. The read-out system is based on continuous vibration.The ring is installed with a hydraulic tool and brought into contact with the surrounding rock through precisely machined and guided wedges. The resolution of the system is in the neighbourhood of 4 x 10-4 min/ Hz. The data collection can be carried out with a portable read-out unit and provisions are available for automatic data collection. Stresses may be calculated from strain readings.The system was tested in cooperation with the Centre de recherches minérales at the Niobec Mine in Quebec for the purpose of monitoring the effects of drill drift development and slope mining on surrounding ground stresses.After access was available to the site, 153 mm diameter holes were drilled for the determination of in situ ground stresses. These holes were then used to install the strain monitoring system. The effect of drill drift development and production blasting in stopes C-203-13 and C-203-15 on ground stress distribution could be observed clearly.The horizontal relaxation in the core of a pillar which occurred during mining of adjacent rooms was between 0.082 mm to 0.111 mm. Calculations of stresses from these deformations indicate that the rock material is still in an elastic condition.Roctest of Montreal has obtained a license on the manufacturing and distribution rights. A patent has been registered and CANMET will assist in installation of the MRL strain monitoring system and the interpretation of records."

Jan 1, 1989

By J. Peck, M. J. Scobie, M. D. Pollitt

"IntroductionOne aspect of current research in the Canadian Centre for Automation and Robotics in Mining (CCARM) involves the automatic identification of different rock types based on particular drill performance parameter responses. In this paper, the four drill performance parameters of torque, pulldown pressure, rotary speed and penetration rate, were measured from an instrumented rotary blasthole drill during field investigations undertaken at the Fording River Mine, Elkford, British Columbia. The variations in these parameters were subsequently correlated with the corresponding rock types using the results from gamma, neutron and core logs in the same or adjacent boreholes. Work to date has sought to understand the relationships between drilling performance parameter variation and rock properties. Using the results of these studies, the present research is aimed at developing techniques whereby classical statistical pattern recognition methods are applied to drill data to permit the discrimination of different rock units. A monitoring system incorporating such a capability would greatly enhance the quality and amount of geological information on a per borehole basis while drilling. This data in tum could be used economically and directly towards explosive loading, geological exploration and reserve estimation. Background and PhilosophyThis work is an extension of equipment monitoring studies at the Fording River Mine. At this site over a two-year period, 5180 m of data was acquired on an instrumented Bucyrus-Erie 60R drill during routine production blasthole drilling. Throughout these studies, a 311mm diameter S8M Security tungsten-carbide tricone bit was used. The mine, located in southeast British Columbia, is a large-scale, open pit coal operation. The means of excavation revolves around a drill-blast-muck cycle and employs a standard shovel-truck system of transport. Four main rock types are present: sandstone, siltstone, mudstone and coal, with average compressive strengths ranging from 10 MPa to 150MPa respectively (peck 1989). However, based on the field studies, very few differences in terms of strength and compositional properties were seen between the sandstones and siltstones at the site. Therefore, they are referred to as sandstone/siltstone in all further discussions."

Jan 1, 1991

By Robert B. Parsons

"Thrashing one's way through a jungle of entangled tax rules is no easy task today, as Canada's legislators continue to complicate this country's income tax laws. At some magical point, there is presumably some balance to be struck between legislation which is equitable and unambiguous on the one hand, and at the same time is efficiently complied with and administered. It is becoming increasingly clear that the legislation is not in balance, and that there is a pressing need for some simplification of the income tax rules and regulations especially in areas of critical importance to the resource industries-even though such simplification will likely involve some sacrifice of equity and certainty.Introduction""I would wish that ... the superfluous and tedious statutes were brought into one sum together, and made more plain and short, to the intent that men might better understand them."" Edward VI, King of England 1547-1553.Regal decree notwithstanding, the legislation of most developed nations continues to become more complex, lengthy, and confusing than ever before. Canada's income tax system cannot escape the accusatory finger pointing at examples of this serious problem which plagues all of us today.Although many areas of our tax law could easily warrant some degree of simplification, for those who are involved with this country's resource sector, that horrendous, almost unreadable, part of our tax legislation which deals with resource taxation must be regarded s a prime candidate for simplification. In recent decades, but particularly in the past ten years since tax reform in 1972, budget after budget, both federal and provincial, have amended, massaged, modified, and manipulated the resource tax rules to the point where not only are taxpayers totally lost in their attempts to make some sense of the entanglement of rules, but also the draftsmen themselves acknowledge that the outer limits of complexity are being reached, and that the whole set of rules is on the verge of grinding to a groaning halt under its own weight of nonsense and frustration."

Jan 1, 1982

By J. R. Johanson, A. W. Jenike

"A solid flows out of a bin provided that the outlet is sufficiently large so that stable obstructions to flow do not develop. The geometry and surface finish of a bin and the construction of the feeder determine the type of flow pattern which then develops within the bin. The pattern, in turn, affects the uniformity and consistency of the stream, segregation, caking, degradation, live capacity and the action of level measuring devices.In most bins now in operation, material flows toward the feeder through a channel which forms within the stationary solid. This is referred to as funnel flow. If the hopper of the bin is sufficiently steep and smooth and the feeder capable of drawing material across the whole area of the outlet, all the solid flows whenever the feeder is in operation; this is referred to as mass flow. Mass-flow bins are usually far superior to funnel-flow bins; their initial cost is also usually higher.The paper describes the design criteria used in deter-mining the minimum bin outlet needed for flow and the bin geometry needed for mass flow."

Jan 1, 1970

By W. Blum

Progress made in improving the creep resistance of Mg alloys is reviewed with the emphasis on microstructural interpretation. Experimental results on the increase of creep strain with time at constant stress a measured for limited times and strains are displayed in a transparent form as creep rate-strain diagrams from which the minimum creep rate stress is safely derived. In addition, data on the thermal stress component a derived from high-precision a-reduction tests are reported. Within a simple statistical dislocation model these data allow one to quantify the relation between dislocation velocity v and a . In combination with structure evolution laws this relation serves as a basis for modeling the creep rate. New alloys have distinctly higher creep resistance than AZ91 where precipitation hardening plays a minor role. This is due to hardening by intermetallic phases which may form a continuous skeleton along the grain boundaries (e.g. Ca-alloyed AZ91) and/or submicron-sized precipitates within the grains (MRI230D, Mg-Zn-Ca alloys).

Jan 1, 2006

By E. R. Landry

This paper reviews the current state of electric furnace technology, with emphasis on some of the more recent developments. A large section of the paper is devoted to the use of increasingly high power inputs by arc furnace operators. Operating practices are then covered, including some of the newer techniques which have been tried.

Jan 1, 1967

By Q. Shi, Q. Feng

"The influence mechanism of chlorite on the flotation of pyrrhotite was investigated through flotation tests, Zeta potential measurements, optical microscope photos, solution ion measurements and absorption measurements. It is observed that, the addition of chlorite influences the flotation of pyrrhotite seriously. The IEP (isoelectric point) of pyrrhotite and chlorite is 7.6 and 4.3 respectively, in the condition of slight alkalinity, both pyrrhotite and chlorite are negatively charged, and the hetero-aggregation will not occur. With the existence of oxygen in solution, the iron ions are dissolved from pyrrhotite surface because of the oxidation of pyrrhotite during pulp conditioning. The dissolved iron ions adsorb onto the surface of chlorite in the forms of iron hydroxyl and iron hydroxide, and the adsorption results in the opposite charge of chlorite surface. As a result, the hetero-aggregation between pyrrhotite and chlorite occurs. The adsorption of chlorite changes the surface property of pyrrhotite and restricts the adsorption of amyl xanthate onto pyrrhotite surface, and then decreases the flotability of pyrrhotite.INTRODUCTIONIn sulfide ores processing, magnesium silicate bearing gangue minerals often report to the concentrate causing downstream processing problems as well as increased smelting costs. Talc,chlorite and serpentine are gangue minerals commonly encountered in complex sulfide ores (Engel, Middlebrook, & Jameson, 1997; Pietrobon et al., 1997; Witney & Yan, 1997; Chen, Grano, Sobieraj, & Ralston, 1999a, 1999b; Bremmell, Fornasiero & Ralston, 2005; Senior & Thomas, 2005; Wang, Somasundaran, & Nagaraj, 2005; WieseHarris & Bradshaw, 2007). All of them are characterized with uniform crystal structures consisting of silicon-oxygen tetrahedron and magnesium-oxygen octahedron. The magnesium-oxygen octahedron layers are broken during the liberation of serpentine to expose the magnesium-oxygen bonds with strong ionicity and hydration, which results in natural hydrophilicity of serpentine. In water, the hydroxyl on serpentine surface ruptures and dissolves into the aqueous phase while the Mg2+ remains, resulting in surface positive charge (Tao, 2012). As serpentine has a positive potential at alkaline condition, it is therefore likely that it will attach through electrostatic attraction to the negatively charged mineral surface and reduce both the flotation rate and recovery of target minerals (Lu et al., 2011). For talc, characterized as good natural hydrophobicity, the liberation comes from the interlaminar fracture to remain molecular bonds on surface with weak hydration. Being naturally hydrophobic, talc easily reports to flotation concentrates, thus reducing concentrate grade (Shortridge, Harris, Bradshaw, & Koopal, 2000; Beattie, Huynh, Kaggwa, & Ralston, 2006). Meanwhile, both molecular bonds and magnesium-oxygen bonds are exposed on chlorite surface when liberation occurs, resulting in moderate natural hydrophobicity between serpentine and talc (Tao, 2012). And thus the mechanisms of influence of chlorite on sulfide ores are more difficult to study."

Jan 1, 2016

By Hans D. Gougar

To meet an increasing demand for minerals, mining operations are moving to ever more remote regions. The lack of a local energy supply and infrastructure, coupled with social and regulatory demands for lowered environmental impact of mining operations, presents an opportunity for a seemingly unlikely competitor ? a nuclear power plant. The Modular Pebble Bed Reactor concept, currently in various stages of research and development around the world, offers a high degree of reliability and safety with minimal consequences for the local or global environment. The passive safety features of this design eliminate the need for the extensive active safety systems that add significantly to the cost of current water-cooled reactors. With the MPBR, as with all nuclear plants, there are no appreciable quantities of waste products released to the environment during normal operations. In contrast with conventional reactor designs, the MPBR would also remain radiologically safe even under the most severe abnormal circumstances. The key to the design is the fuel element. Enriched uranium microspheres are coated with various layers of pyrolytic carbons and silicon carbide to form a highly-temperature resistant particle that effectively retains all fission products. These particles are mixed with graphite and formed into 6 cm pebbles. A randomly packed vessel of such pebbles forms the reactor core through which helium is circulated as a coolant. Computer models and tests performed on actual pebble bed reactors confirm that fuel failure temperatures are not reached even during the most severe conceivable loss of coolant accident. The reactor drives a gas turbine cycle with resulting efficiencies as high as 48%, comparable to natural gas-fired units. The low price of uranium fuel and low maintenance requirements translates into competitive operating costs. However, high capital costs prevent the MPBR from competing with natural gas in most markets. In remote applications where no fossil supplies are readily available, the playing field is more level. This paper summarizes the features of two of the more promising candidates for remote applications and discusses the strengths of the MPBR from the perspectives of fuel supply and environmental impact.

May 1, 2002

By T. G. Sitharam, Resmi Sebastian

"Wave propagation studies across jointed rocks have significance in the fields of rock mechanics and geophysics. The passage of a seismic wave induces strains in rocks and often, these strains are of low magnitudes except at the vicinity of source. These low magnitude strains are generally in the elastic range and hence elastic constants necessary for the design and analysis of strength of rock mass, can be derived from wave velocities. Measurement of travel time velocities and measurement of resonance frequencies are the two methods usually adopted for obtaining wave propagation velocities.Resonant column apparatus measures wave velocities from the resonant frequencies obtained during testing. Depending on the type vibration applied, torsional or flexural, shear and compression wave velocities are secured. By varying the amplitude of vibrations applied, various strain levels can be introduced and corresponding resonant frequencies and wave velocities can be calculated. The resonant column experiments were performed on a model material, hardened Plaster of Paris (POP) samples, in laboratory. The paper explains the preparation of samples and the working mechanism of resonant column apparatus along with the estimation of wave velocity from resonant frequency. The numerical simulation of resonant column apparatus using distinct element method and its validation with the experimental results are presented in the paper.A distinct element code is usually used to simulate the movement of materials with intersecting discontinuities. Finite rotations and displacements of individual blocks representing the material are permitted and new contacts between the blocks are identified as the calculation progresses. Three dimensional Distinct Element Code (3DEC), the software intended for the numerical simulation of rock engineering projects, can well simulate the behavior of jointed rocks under static and dynamic loading conditions. The numerical simulation of resonant column apparatus has been performed with 3DEC considering its efficiency in modeling jointed rocks.The numerical modeling of the resonant column apparatus with application of torsional and flexural vibrations to the sample is elaborated in the paper. The response of samples to a range of frequencies is obtained and the frequency that induces maximum displacement in the sample is measured as the resonant frequency, for any particular strain level. The displacements measured at various points of the sample during application of vibrations are compared and presented. The numerical modeling of resonant column apparatus with an intact sample (without joint) and a sample with a joint incorporated are explained at a particular strain level. The resonant frequencies obtained from laboratory experiments and numerical simulations are compared and illustrated. It has been found that resonant frequencies obtained using numerical and laboratory experiments are in good comparison and can be extended for various strain levels and sample conditions."

Jan 1, 2015

By P. H. Willis

Since the 14th CMMI conference, held in Edinburgh in 1990, at which a paper was presented by the author (Willis, 1990) reviewing the role of integrating new technology as a survival strategy for South African gold mines, considerable change has occurred in the South African mining industry. This paper reviews the current state of the industry and provides an update on the technologies discussed ten years ago. It reviews available technology and provides a broad economic assessment of these technologies if they were to be introduced in an integrated mining system with a focus on deep level mining below 3000 m. It also reviews possible future technologies currently being researched and developed by CSIR: Division of Mining Technology (Miningtek).

Jan 1, 2000

By Gordon Nelson

The Homestake gold mine is one of the largest and oldest continuously operating gold mines in orth Ame rica. To date this mine has produced in excess of 128.000.000 tons of ore containing almost 34 million ounces of gold . Gold mine ralization is restricted to the Homestake Formation. This unit is a metamorphosed iron-formation which is enclosed by pellitic metasedime nts below (Poorman Formation) and a pellitic to qua rt zitic unit (Elli son Formation) above. The e ntire Precambrian sequence. in the Lead area. has been subjected to a multi-stage defo rmation episode which ha c reated an extremely complex structural setting for the Homestake orebodies. Metamorphic grade inc reases from greenschi st ro amphibolite in a northeast d irecti on acros the mine area. Present thickness of the Home take fo rmation va ric from O to »400 fee t. The amount of thicke ning and th inning which is attributable to tectonic deformation or original sedimenta ry di fferences is not known. Orebodies constitute onl y a small pe rcentage of the Homestake Formation and do not occur along a pa rticul ar stratigraphic pos ition within the unit. Gold i assoc iated with inc reased py rrhotite and a rsenopyrite concentrations within the iron formation. Inc reased \ cin qua rt z development and chl oritic alteration usuall y accompany this minerali zation. Local remobilizati on of mine ralization due to metamorphi sm has occurred. Homestake mine ralization has been shown to be of sy ngeneti c origin . Because no feeder zones have yet been recognized a di stal source for the mine ralization is inferred .

Jan 1, 1986

The use of roof bolting gave promise of substantial economic benefits to Continuous Miner operations at Michel Colliery. As the first step in the adoption of bolting, 142 anchorage tests, employing six types of anchor shells, were made in three mines. Significant differences were found in the anchorage capabilities of the various shells and the various roof rocks. Introduction S PORADIC attempts at roof bolting had been made at Michel Colliery over a period of ten years. Results were indifferent or inconclusive. A concerted effort was not made, because a compelling need for bolting did not exist. By 1962, however, the advent of Continuous Miners had brought a new significance to roof bolting and, at the same time, the increasing price and scarcity of mine timber made bolting materials more competitive in cost. A fresh appraisal of bolting, therefore, became justified and necessary. The potential benefits of roof bolting at Michel are several.

Jan 1, 1963

By Michael S. Moats, Shijie Wang, Timothy Robinson

In 1987, John Schloen published a survey and analysis of copper electrorefining tank room data. Following this paper, a series of copper electrorefining surveys have been conducted and presented at each of the Copper-Cobre meetings over the past 20+ years (1991, 1995, 1999, 2003, 2007, 2010 and 2013). For each of these surveys, William Davenport has been key driving force in the collection and analysis of data. To honour Professor Davenport’s contribution to copper processing, a review of the data was conducted. Historic trends and possible future technologies are discussed.

Jan 1, 2014

By Göckmann. Klau

"IntroductionCopper has been recycled ever since its discovery. Even in Graeco-Roman times recycling of this resistant, and thus valuable material was carried out as a matter of course. Just take, as an early example, the Colossus of Rhodes: after the figure collapsed during an earthquake, the bronze parts were melted down into ingots and sold.Copper is a material which can be recycled again and again because copper produced from recycling is not different from copper originating from primary materials. This is mainly due to electrolytical copper refining whereby not only the base metals but also the precious metals can be removed. In contrast, with aluminum and iron only the more electropositive elements can be removed by refining, and the resultant scrap must, therefore, be sorted mechanically into various alloys for subsequent smelting.The recycling rate for different base metals is given in Table 1. Despite this ideal prerequisite, the generally quoted recycling rate of copper of about 40070 appears rather low. However, it must not be forgotten that the recycling rate is defined as the ratio of the annually utilized quantities of copper scrap and the annual production figures (Table 2). Moreover due to the economic growth over the last 30 years the availability of copper from scrap materials is lower than its consumption because copper is principally employed in very long-life consumer durables and only returns to the recycling circuit after many years. The average time for the copper of some goods to be recycled is detailed in Figure 1."

Jan 1, 1992

By R. Frank Chiappetta, E. B. Wilson

"The maintenance records for AL-60 airlegs at Falconbridge Ltd. are used to demonstrate some of the procedures for the analysis of such data.The data are not representative of pure failure s of one type or another. In fact, the records are for the undefined pseudo-failures which are usually found in industrial operations. However, because the machines are brought to the shop only when inoperative, the individual recorded components are treated as failures. Manual calculations are conducted to show the analysis of variance (ANO VA) approach to determine whether certain data can be combined; only a limited number of the 206 machines being considered. The manual procedures continue with the weighting of the suspensions; i.e. terminations f or reasons other than the failure of the given component. After the data are sequenced in the proper order, the nature or pattern of the data is determined using the Kolmogorov-Smirnov (KS) test.It is recognized that these manual examples must be replaced by compute r methods 10 process voluminous data of this nature. Such programs are developed and available. However, a program called RELCODE is used in this case to correspond to the manual examples and to take into account the suspensions. These analytical procedures form the basis for those studies required for good maintenance management."

Jan 1, 1985

By D. Mills, W. H. S. Lawson

"The need to make repairs is seldom a major consideration in the design, fabrication and installation of major components of electrical generation plants. Repair welding, however, is a fact of life in the electrical generation industry, for restoration of degradation in service, from cavitation of hydraulic turbine runners, to corrosion and fatigue damage in pressure vessels. In making weld repairs to carbon and low-alloy steels, the largest source of trouble is hydrogen embrittlement and related post-weld cracking. Various strategies have been developed to control problems from this source, including post-weld heat treatment, the use of nickel-base alloy filler metals and the temper bead welding technique. Each of these basic strategies is being applied as circumstances require; each strategy must, however, be implemented in a manner that reconciles weldment structure and hardness, degree of restraint and service environment with the consequences of unsatisfactory performance of the repaired component.IntroductionMajor working components of electric generating plants are specified and installed on the basis that, wherever technically and economically feasible, they will retain functional capacity without major repairs for the twenty-five-plus years of normal plant lifetime. Nevertheless, repairs are often required, and welding is usually an essential feature of the work. Remedial welding may be performed to correct design or fabrication errors which become evident only at the time of component installation. The most common causes of requirements for repair involve corrosion, fatigue or related processes which prove more aggressive than expected during service. Increasingly, our planning for future repair requirements is related to continual improvements which are occurring in nondestructive evaluation technology. As components are periodically reinspected during their service life, fabrication induced defects may be revealed for the first time quite late in the life of the component. When this occurs, repair must be considered wherever inaccessibility of a flaw makes it impossible to prove its inactivity. Finally, there are certain components, for instance in hydraulic turbines, which cannot be economically made or used without the expectation of service induced wear. Here, periodic maintenance welding must be regarded as a normal event."

Jan 1, 1981

By P .. D. Vaillancourt, D. F. Sangster

Several occurrences of disseminated galena, including a former producing mine, are found in Pennsylvanian fluviatile sandstone of the Salmon River Basin, Cape Breton Island, Nova Scotia. Detailed study of the distribution of these occurrences has revealed that highest galena concentrations are found in sandstone overlying channel-shaped depressions in felsic basement rocks. These buried depressions, in turn, correlate in position with modern streams in areas of basement exposure. This correspondence suggests that the latter are at least partially controlled by an exhumed Pennsylvanian topography. If this is correct, then several other streams in the area, lying on basement, may be used to locate possible undiscovered lead deposits in sandstones of the Salmon River Basin.

Jan 1, 1990

By Michael J. Lawrence

"The VALMIN Code was developed and formally adopted by The Australasian Institute of Mining and Metallurgy (AusIMM) in 1995 and a revision was issued in 1998. The VALMIN Code applies to all relevant reports under the Australian Corporations Law, including submissions to the Australian Stock Exchange (ASX) and the Australian Securities and Investments Commission (ASIC).The VALMIN Code and Guidelines sets standards for the preparation and commissioning of independent assessment and/or valuation reports on mineral and petroleum assets or mineral and petroleum securities.It is mandatory for AusllvI:M's members to follow this Code in these relevant circumstances and failure to do so will result in serious sanction of the member by the Ausllvllvfs Ethics Committee. Public support for the use of this Code has been given by regulators (ASX/ASIC) and market participants ( eg major accountancy firms). It is also endorsed as a guide to general best practice in project assessment and valuation.This paper will discuss how the VALMIN Code has worked in practice over the past few years. It will also examine areas where the Code could be improved and how it could form the basis of a new Canadian Code for mineral property valuation."

Jan 1, 2003