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By W M. Gilchrist

This paper gives an estimation of the future requirements of the western world in relation to energy re-sources. It then goes on to outline the role that atomic power -with its basic raw material, uranium -will play in supplying these energy requirements. Canada's position in this picture is covered, and some interesting forecasts are made. Introduction I T is possible that the following remarks will appear to have more to do with power than uranium. However, to fully comprehend what is in store for the Canadian uranium mining industry, we must be able to estimate the potential requirement, and, to do this satisfactorily, a thorough understanding of the circumstances that will give rise to that demand is necessary. The growing need for electrical energy will play by far the major role, as large tonnages of uranium will be required for its generation. The nuclear weapon has, up to the present, comprised the major market for uranium.

Jan 1, 1964

By P. O. Sandstrom

"Atlas Copco is introducing a new patented method for full-face boring. This paper presents the basic principles of the boring action and discusses the present experience regarding performance and costs. The Atlas Copco ""Full-facers"" are designed for hard-rock applications, although they are successfully boring in soft ground without major changes. The unique patented boring principle referred to as the 'Undercutting Method' permits these machines to bore, economically, in harder ground than machines based on the 'crushing principle'. This is mainly due to considerably lower cutting-tool costs, as the tungsten carbide tips only are in contact with one-third of the bored volume. The remaining rock is 'undercut' and peels off from a slight back pressure.The undercutting method also permits boring of non-circular headings and Atlas Copco has already manufactured two machines for rectangular drifts. This concept could revolutionize development work in mines employing trackless equipment."

Jan 1, 1971

By Paul Girodo

Government Approval For Foreign Workers 1.Service Canada Work Permit Tasks: i. Prove there are no Canadian Journeymen; ii. Use heavyweight stakeholders; iii. Understand the FWU transformation taking place today. Government Approval For Foreign Workers 2.Provincial Nominee Program (PNP) i. Build relationships; ii. Use heavyweight stakeholders; iii. Continually demonstrate benefits to the Province from foreign Journeymen. Government Approval For Foreign Workers 3.Letter from Union Supporting Temporary Foreign Workers i. Easiest path to approval ?CLAC model

May 1, 2006

By A. J. Brown

This paper presents an economic evaluation of resin ion exchange and solvent extraction for the purification and concentration of uraniferous solutions derived from sulphuric acid leaching operations. Capital and operating costs are related to the uranium tenors of pregnant solutions. The conclusions drawn herein apply only to cases where resin and liquid ion exchange are technically feasible process alternatives. It is shown that solvent extraction is economically favoured for pregnant solutions at tenors greater than 0.90 gpl U3O8. Pregnant solutions with tenors below 0.35 gpl U3O8 are best treated by resin ion exchange. Between these concentrations, the economics are marginal and the favoured process is indistinguishable within the limits of accuracy of this study.

Jan 1, 1979

By T. V. Lord

Minerals containing uranium have been successfully pre-concentrated by flotation at Queen's University, Kingston. In particular, uraninite, uranothorite, euxenite, and fergusonite, have responded to flotation to yield grades of 0.2 to 6.0 .per cent U .o. with recoveries of 85 to 98 per cent, from heads analysing approximately 0.10 per cent U3Os. Of the ten or so radioactive samples examined to date, two distinct groups were recognizable, firstly, those samples in which uranium was the sole constituent of economic interest, and, secondly, those in which Columbium (with minor amount of tantalum) was present in addition to uranium. For the purpose of this paper, the results of investigation on two samples of each of the above groups have been selected as typical.

Jan 1, 1945

By F. R. Joubin

MR. CHAIRMAN, Members of the C.I.M., and Friends -particularly friends, because I am not entirely a stranger in your city. I was last here some five years ago and it has given me a great deal of pleasure this evening to be able to say "Hello" again to those I had met at that time, when Bourlamaque and V al d'Or were very busy centres of intensive and successful gold exploration. My remarks this evening have to .do with Canada's Place in the Atomic Age. They will be of a general nature but I hope to tell you ?enough to whet your appetite so that you may be provoked into per-.suing the subject further. Now, atomic developments have become quite commonplace. Words like radioactivity, reactors, nuclear fission, and so on are known to everyone, even the youngsters. I re-member two or three years ago one of my office boys came to me and said "Mr. Joubin, I would like a raise." I gave the request a few seconds of serious thought and finally said "Alright, Jimmy, we'll give you a raise." However, he made no effort to leave, so after a -couple of seconds more I said, "Is there something else ?" and he said "Yes, Mr. Joubin, could you make that raise 'radioactive' to the first .of the year ?"

Jan 1, 1958

By Frederic Benard

THE Ontario Refining Company, Limited, wholly-owned subsidiary of The International Nickel Company of Canada, refines the entire blister copper output of the latter's Copper Cliff smelter. Prior to 1936, the blister was cast in 460-lb. cakes at the smelter, loaded on open cars, and transported by rail to the refinery, a distance of approximately 1 1/4 miles. Here the cakes were transferred to the plant narrow-gauge system, charged to furnaces, and re-melted. This procedure necessitated the operation of holding furnaces and casting machines at the smelter -extensive re-handling-and melting down of a cold charge at the refinery. Transfer of the copper in molten form direct from converters to anode furnaces promised a considerable reduction in costs, and this possibility was investigated. As a result, a portable holding furnace, or hot-metal car, was designed and constructed. It was placed in operation in July, 1936, to be followed a year later by three additional units of slightly modified design. Figure 1 shows the original car, and Figure 2 the lacer type. With four cars in service, operations were placed on an all 'hot-metal' basis.

Jan 1, 1938

By A. Ignatieff

"Demonstrations of Automatic Coal Burning EquipmentAT THE 1951 and 1952 Annual Coal Research Conferences sponsored by the Dominion Coal Board and attended by delegates from the Dominion and Provincial governments as well as industry, the importance ,of encouraging the co-operative interest of Canadian coal and equipment industries in •promoting the use of equipment types best suited to burn given Canadian coals was emphasized. It. was suggested that this idea •be enlarged upon at forthcoming C.I.M. meetings that would be .attended largely by coal mining engineers.With this in view, a Domestic Heating Forum (1) was featured in the Coal Division programme at the 1951 Annual Western Meeting of the Institute in Calgary, and a much more ambitious programme, highlighted by live demonstrations, was •staged at the combined Annual Western Meeting and Fourth Meeting of District 4 held in Winnipeg in October 1952.With the excellent co-operation of a number of equipment manufacturers and coal companies, and with facilities kindly provided •by the University •of Manitoba authorities, burning demonstrations were• arranged in the Agricultural Engineering Building, on October l 7th. These demonstrations were a fitting sequel to the Coal Division sessions held in the Royal Alexandra Hotel on October 16th, at which the combustion of coal was specially featured in a series of papers by prominent Canadian and United States specialists.The primary purpose of the demonstrations was to •show that all coal, regardless •of rank, can be satisfactorily used provided that proper application is made with equipment suited to its purpose."

Jan 1, 1953

By R. H. Colquhoun, A. W. Bolland, H. J. H. Pieterse

"American Barrick Resources Corporation acquired the goldstrike property in north eastern Nevada in early 1987. Since that time, the company has undertaken an extensive development program. This paper will overview the milling, autoclaving, and heap leaching facilities which are part of the $400-million Betze development plan. Gold production at the Mine has increased from 40,000 ounces per annum in 1987 to more than 500,000 ounces in 1991. And in 1992 Goldstrike will be the single largest North American gold mine when it produces 1,000,000 ounces.1. SUMMARYAmerican Barrick Resources Corporation acquired the Goldstrike property in northeastern Nevada in early 1987. Since that time, the company has undertaken an extensive development program. This paper will overview the milling, autoclaving, and heap leaching facilities which are part of the four year, $440- million Betze Development Plan. Gold production at the Goldstrike Mine has increased from 40,000 ounces per annum in 1987 to more than 500,000 ounces in 1991. In 1992, Goldstrike will be one of the largest North American gold mines, when it produces appro approximately 1,000,000 ounces.2. INTRODUCTIONAmerican Barrick Resources Corporation is in the process of developing the Betze gold deposit, located on Barrick's Goldstrike property in the Carlin area of Nevada, U.S.A.The Goldstrike Mine has 17.9 million ounces of proven and probable reserves and an additional 460,000 ounces of possible reserves. Additionally, the Purple Vein deposit, one mile north of the Mine, is expected to add at least 4 million ounces of reserves by year end 1991.The Goldstrike ore body contains both oxide and sulphide ore. The largest part of the reserves are contained in the high grade, deep sulphide ore. Mining of the sulphide ore contained in the Betze deposit involves the removal of large quantities of overlying oxide ore. Oxide ore is treated through one of the following processes:-"

Jan 1, 1992

By C. E. Baltzer

This is the fourth in a series of coal technology reviews being prepared. in accordance with a recommendation voted by the Coal Division C.I.M. in session at the Jubilee Meeting, Vancouver, 1948, that the Department of Mines and Resources be requested to arrange for publication by the proper Government authority of a Quarterly Review of Coal Technology for distribution among those concerned in the production and use of coal in Canada. Copies of the first review, which appeared in the November, 1948, BULLETIN, pp. 612-614, of the second review in the June, 1949, BULLETIN, pp. 272-275, and of the third review in April, 1950, BUL-LETIN, pp. 1,9?3-196 (also, respectively, in Transactions, Vol. LI, 1948, pp. 262-264 Vol. LU, 1949, pp. 117-120, and Vol: LIU, 1950, pp. 133-136), were distributed by the Dominion Coal Board and are still available on request. In this review, the first in the series in the field of combustion, development and trends during the period approximately from World War II to the present time are described and therefore the presentation is general. Later reviews will particularize developments in relation to the range of coals available in Canada.-ED. INTRODUCTION THE utilization of coal in heat and power producing equipment has become of paramount importance to the coal industry in maintaining stable and profitable markets. In the past, the chief concern was with mining, transportation, and overall supply problems, but modern conditions demand interest in and knowledge of all phases of the product, from coal in situ to its ultimate disappearance in the form of products of combustion. Even the last mentoined factor has caused complications, as is shown by current widespread activity in the field of smoke abatement

Jan 1, 1951

By The Staff

WE were requested to make a digest of our original grinding report, Fine Grinding Investigations at Lake Shore Mines. This digest is much easier to read than the original report, but it lacks the experimental 'evidence' found in the first report which, in many cases, is much more interesting and educational than the conclusions derived from it. In the course of rewriting the paper, we noticed several new angles on the test data which had not occurred to us previously. From the data included in the report and other tests not published, calculations were made which indicated a line of new test work. These tests, among other things, more than suggest a technique for designing the length of mills, the position and number of classifiers, and the total loads a mill should carry.

Jan 1, 1941

By M. Gyenge, O. F. Coates, K. Barron

"It is suggested that artificial supports might be used to increase, with safety, the angle of hardrock open-pit slopes. Guidelines for designing such a support system, based on a simplified analysis, are given. The installation, construction and instrumentation of a trial support system is described and a breakdown of the construction costs is given. On the basis of this cost analysis, the economic benefits derived from reduced waste-rock excavation are compared with the support costs for a typical mine. In an example, it is shown that the slope angle in an open-pit mine 500 ft deep, with benches 50 ft high by 30 ft wide, could be safely increased from 37Yz degrees without support to an optimum of 53 degrees with support. In this case, the support costs would be approximately $900 per linear foot of pit wall and the savings due to decreased excavation of waste rock (at $0.34/ton) would be approximately $1,900 per linear foot, yielding an increased margin of profit of approximately $1,000 per linear foot of pit wall. This figure could be increased to $6,000 per linear foot if the steeper slope were used to extract more ore.More than 50 per cent of the support costs are accounted for by diamond-drilling the holes for the deep cable anchors. The use of percussion drills for this purpose would seem to offer a means of significantly reducing the support . costs and thus further increasing the profit margin available."

Jan 1, 1971

By K. Parameswaran, A. Veek, A. Fernandez, P. Safe

ASARCO LLC (Asarco) Hayden Copper smelter, in Hayden, Arizona, has operated continuously (except for minor labor and economic curtailments) since 1912. The current plant configuration comprises INCO flash smelting, Peirce Smith (P-S) converting and fire refining/anode casting. In order to comply with the U.S. Environmental Protection Agency (EPA) 1-hour National Ambient Air Quality Standards (NAAQS) for sulfur dioxide promulgated in June 2010, the Hayden smelter had to increase overall sulfur fixation from approximately 95 % to 99+ %, requiring a retrofit of the existing converter department and upgrade of associated emissions controls systems. The Converter Retrofit Project (CRP) involved replacing the five existing 13’ diameter Peirce-Smith converters (2 blowing, 2 hot standby) with three new 15’ diameter Peirce- Smith converters (1 blowing, 1 hot standby) to allow for more effective process gas capture using the existing acid plant contact section. Significant upgrades were made to the acid plant wet gas cleaning section and converter primary gas handling system to improve capture performance, reliability, and sludge handling. In addition, a new tertiary gas capture system was installed to further minimize fugitive emissions from the converter aisle. The existing furnace tapping ventilation ESP was replaced with a new baghouse to enable at least 50% SO2 removal using high-surface-area dry lime injection, which was also implemented on the existing converter secondary gas baghouse system. The first two converters and all gas handling system improvements were started up in April 2018, and the third converter was brought online in November 2018. This paper presents the regulatory context; genesis and rationale for CRP; detailed description of the project; challenges during commissioning; system improvements implemented, and design considerations made, and systems performance and process optimization achieved since startup.

Jan 1, 2019

By John G. Peacey, Leoncio Sevilla G., Ford. Kevan J. R., Erling Villalobos C.

"Kinross Gold Corporation’s Mantos de Oro (MDO) gold/silver mine in northern Chile currently processes 15,000 tpd of oxide ores through a mill, whole ore cyanide leach plant followed by a Merrill-Crowe refinery. With the expected depletion of these oxide ores in a few years a new sulphide mineral deposit, Ladera-Farellón has been identified to potentially replace existing ore reserves. The deposit contains approximately 0.5g/t Au, 6g/t Ag and 0.5% Cu. The principal sulphide mineral in the deposit is enargite (Cu3AsS4) which hosts the majority of gold and silver and the copper. Direct cyanidation testwork has shown the sulphide mineral is refractory with a low gold recovery of 36% and silver recovery of 45%. Oxidation of the sulphides is required to liberate gold and silver and allow recovery of copper as an important pay-metal. Therefore, at MDO a new metallurgical process route with oxidation as a pretreatment step is required for viable treatment of such new sulphide mineralized material with acceptable recoveries of pay-metals.Analysis of flowsheet options was completed based on bench-scale and pilot scale metallurgical testwork as well as with reference to existing studies and operations. The process options investigated assume concentration of sulphides by flotation, followed by either pressure oxidation, bacteriological oxidation or roasting. Preliminary evaluation of flowsheet options focused on process risk, operability, technology availability and the economics of the project with emphasis on use of the existing metallurgical plant to reduce capital cost. Operating costs for each process option were also included in the relative analysis.The challenges of treatment of MDO sulphides, principally enargite and pyrite for recovery of gold, silver and copper center on fixation of arsenic and sulphur capture with environmentally acceptable disposal of residue tailings. This environmental focus was included in the process option selection and comparative analysis.This paper presents a review of the process options considered and highlights comparative advantages/disadvantages of each process with associated environmental issues. Preliminary conclusions are drawn on roasting as a potentially favorable process option for the treatment of MDO sulphides."

Jan 1, 2009

By Eduardo Nunez, Asim Tuzun, Dan Graffi, Glenn MacPherson

"In preparation for the milling of a new nickel and copper mine ore, Nickel Rim South, Xstrata’s Strathcona Mill is undertaking numerous process improvement projects. Within the grinding circuit, several projects are under development and an automated grinding control strategy, consistent with the operating objectives, was identified as a key requirement. The grinding strategy is to maximize the throughput (quantitative objective) while maintaining the cyclone overflow within specifications (qualitative objective).This paper describes the implementation of a robust grinding control strategy using the existing control system. The implemented controls maintain the cyclone overflow density at the desired target, while continually optimising the rod mill feed rate to allow maximum throughput. This approach has the added benefit of improving the stability of the rougher flotation circuit down stream of the grinding and improving energy efficiency of the rod and primary ball mills. This paper discusses the comparison of the before and after the implementation of results.INTRODUCTIONThe grinding process is a size reduction operation used in the mining industry to liberate the valuable minerals from the gangue. Grinding is one of the most important and expensive processes in a concentrator (Xi-song, 2007; Pomerleau 2000; Najim 1995), often accounting for around half of the total operating costs in base metal concentrators (Wills, 1990), which has led to a focus on development and implementation of control and optimisation strategies. The grinding process prepares the ore for the subsequent concentration step, which for sulphide base metal operations, is predominantly flotation. The performance of the concentration (flotation) is very much determined by the feed characteristics of the slurry coming from grinding. The valuable minerals recovery process in flotation is very much influenced by the grinding process and the liberation of the desired minerals from the gangue minerals (McIvor, 1991).The true objective of grinding is to obtain a proper liberation of the minerals as defined by a particle size distribution referenced typically by d80 (80% passing size of product). Besides achieving the desired mineral d80 size, it is clearly desirable to produce as narrow a size distribution as possible to squeeze the maximum amount of the mineral value into the highest recovery region (McIvor, 1991). This is an important criterion for the mill in economically optimizing the grade and recovery for the concentrate product. It is important not to over or under grind, while keeping the specific comminution energy as low as possible (Nunez, 2005) to achieve the target liberation. In other words, maintain an optimal throughput depending on the ore conditions to the capacity of the grinding mills, while providing the flotation process with a constant and narrow size distribution, at a cut size selected to meet the metallurgical requirements (Bascur, 1991)."

Jan 1, 2009

By Gilles Landry, Mohamed Ourriban, Pierre Pelletier, Ahmed Bouajila, Claude Gagnon

"This paper summarizes the work carried out to develop and implement the gold cyanidation by size class (CSC) process, a novel concept aiming to reduce cyanide consumption.First, the authors will present the methodology and results of laboratory tests conducted to evaluate the response and the expected gains for the selected ore when submitted to the CSC processing. In the second part, focus will be on the methodology behind the CSC scheme development prior to its implementation at Sleeping Giant Mine concentrator. Finally, the evaluation of the modified circuit performance (operating since July 2007) will be addressed as a reduction of cyanide consumption by more than 30% and of free NaCN in the tailings by more than 50% is confirmed.INTRODUCTIONCyanidation is the most widely used technique to extract gold from hard rock ore. Its use of oxygen as an oxidant still makes it the cheapest process available after more than a hundred years. Unfortunately, gold cyanidation is known to be a slow process that requires high consumption of cyanide. In fact, cyanidation plants are designed with very long residence times (Habashi, F., 1967). Drawbacks of long cyanidation times are, among others, loss of gold in tailings, high reagent consumption and high capital investment and maintenance costs.Responding to their members expectations for the improvement of cyanidation process, COREM undertook a challenging R&D program covering the development of alternative concepts (processes) and the understanding and solving of mass transfer, gold passivation and process water chemistry problems. One of the interesting findings of the R&D program is a patent pending process technology based on the cyanidation by size class (CSC) concept (Côté and Ourriban, 2004; Gagnon and Ourriban, 2007; Gagnon and Ourriban, 2004).The new technology was tested at the Sleeping Giant concentrator, a plant member of COREM. The existing flowsheet was modified in order to implement the CSC process in the full-scale plant. The plant has been operated using the modified CSC based process since August 2007. Laboratory testwork was conducted prior to the industrial application in order to properly design the new process scheme. The modifications included:1) Reclassification of the grinding circuit product through an hydrocyclone2) Leaching of the coarse size fraction3) Addition of the fine fraction to the coarse leaching circuit tails."

Jan 1, 2009

By Linda Dufour

"Autoclaves have been in commercial use in the mining industry since the early 1950's the initial applications included tin, uranium, cobalt, nickel and copper extraction under both acidic and alkaline conditions. These circuits varied in batch or continuous operation. The geometry has been spherical, vertical, and horizontal type with up to six agitators, with throughput as high as 1000 stpd.Presently autoclaves are a good process selection for many refractory sulphide gold bearing ores. The first application of pressure oxidation in the gold industry was at the Homestake Mcglaughlin's Mine which was commissioned in 1985. This was an acidic pressure oxidation process treating 3000 stpd in three four compartment horizontal autoclaves 14' diameter and 53' long. Since the initiation of autoclaves for the treatment of gold bearing sulphides, there are presently 16 gold autoclaves operating worldwide varying in size up to 18'4"" inside diameter. There are seven autoclaves for the treatment of refractory sulphide gold bearing ores to be commissioned in 1997 and 1998.Autoclave technology has progressed extensively since the mid-eighties. Operational experience has made rapid progress and the result is much smoother and safer autoclave operation. There have been many advances in autoclave technology design. For example, the use of exotic materials for corrosion resistance to reduce down time for maintenance. The instrumentation involved in autoclave operation is very sophisticated which allows for many safety features. The advanced design has allowed for greater availability and as a result operating costs and maintenance costs have decreased. These technological advancements have made autoclave technology more safe and this has resulted in a greater acceptance of this type of operation. Many of the gold autoclave facilities operate up to 9 months continuously without shutdowns. The advancement of autoclave technology has inspired many new applications.Because of the outstanding operation of autoclaves in the gold industry, many other applications for autoclave technology are being considered. The following is a list of autoclave applications:"

Jan 1, 1997

By Trevor R. Ellis

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

Jan 1, 2003

By J. C. O'Rourke

"This paper presents an overview of Alberta Oil Sands Technology Research Authority's in situ oil sands recovery project at its underground test facility near Fort McMurray. It covers the rationale for horizontal wells drilled from tunnels below the oil sands, the tunnel layout, the drilling program, and the recovery process and facilities. INTRODUCTIONThe Alberta Oil Sands Technology and Research Authority (AOSTRA) has constructed an Underground Test Facility (UTF) in the Athabasca oil sands deposit in northern Alberta, approximately 50 km northwest of Fort McMurray (Fig. 1). The facility initially is to serve as an underground laboratory from which to field test new approaches to in situ recovery of the bitumen (oil) in the Athabasca deposit.The UTF employs mine access to get at the effective exploitation of an oil reservoir. It does so, however, under conditions considerably more difficult than those faced by most other applications of the technology. Because of the unconsolidated nature of the McMurray formation, the development of drilling chambers directly in the reservoir would be prohibitively expensive. Further, mobilization of the extremely viscous bitumen requires intensive steam stimulation with the attendant concerns of large, complex well completions and potentially hazardous operations Over-all, the oil sands presents mining, drilling and operations challenges which push the technology to a new state-of-the-art. The UTF as it now exists consists of:• a 20 000 ha lease with all-weather road access;• 925 m of 5 m by 4 m tunnels in the limestone 15 m below the oil sands at roof depth of 178 m below the surface (Fig. 2);• two 3 m diameter steel lined shafts to a depth of 213 m;• administration and sur face mine support facilities from which to operate the UTF (Figs. 3 and 4);• underground piping systems to transport drill fluids, steam, produced fluids and services to and from the future well heads underground (Fig. 5);• surface steam generation and production handling facilities (Figs . 3 and 4).• a drilling rig and auxiliary systems specifically designed to drill long horizontal wells into the oil sands from tunnels in the underlying limestone (Fig. 6);• an experienced staff to engineer and operate the facility (Fig. 7)"

Jan 1, 1989

By R. D. Brown

In the spring of 1977, Revenue Canada announced its intention to proceed in 1978 with a plan to impute a taxable benefit on interest-free and low-interest loans provided to employees. Such loan arrangements are often an important aspect of the compensation packages provided by many companies to their employees. Since the original announcement, there have been many submissions to Revenue Canada opposing this change, and the Finance Minister has now brought down a compromise solution with the introduction of a proposed amendment to the Income Tax Act. The amendment, which would not take effect until the 1979 taxation year, would require an employee, a shareholder or a related person to include a benefit in income measured as the difference between the interest on any such loan computed at bank prime rate and any interest actually paid. Only the amount of such a benefit in excess of $500 in a particular year would be required to be included in income. Of particular interest is the exclusion from these benefit rules of loans up to $50,000 in respect of the purchase of a house on the relocation of an employee and loans provided for the purchase of shares of an employer corporation.

Jan 1, 1978