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By James R. Hein, Jane Reid, Robert W. Embley, Se-Won Chang, Randolph A. Koski

"Abstract - This is the first reported occurrence of an active hydrothermal field in an oceanic fracture zone setting. The hydrothermal field occurs in a pull-apart basin within the Blanco Fracture Zone (BFZ), which has four distinct mineral deposit types: (1) barite mounds and chimneys, (2) barite stockwork breccia, (3) silica-barite beds, and (4) silica, barite, and Fe-Mn oxyhydroxide in sediments. All deposit types contain minor amounts of sulfides. In barite stockwork, silica-barite beds, and mineralized sediment, Ba, Pb, Ag, S, Au, Zn, Cu, Hg, Tl, As, Mo, Sb, U, Cd, and Cu are enriched relative to unmineralized rocks and sediments of the BFZ. Fe and Mn are not enriched in the barite stockwork or silica-barite beds, but along with P, Co, and Mg are enriched in the mineralized sediments. Silver contents in deposits of the hydrothermal field range up to 86 ppm, gold to 0.7 ppm, zinc to 3.2%, copper to 0.8%, and barium to 22%.Mineralization occurred by diffuse, low to intermediate temperature (mostly <250°C) discharge of hydrothermal fluids through pillow lavas and ponds of mixed volcaniclastic and biosiliceous sediments. Bacterial mats were mineralized by silica, barite, and minor Fe hydroxides, or less commonly, by Mn oxyhydroxides. Pervasive mineralization of bacterial mats resulted in formation of silica- barite beds. Silica precipitated from hydrothermal fluids by conductive cooling and mixing with seawater. Sulfate, U, and rare earth elements (REEs) in barite were derived from seawater, whereas the REE content of hydrothermal silica deposits and mineralized sediments is associated with the aluminosilicate detrital fraction. Fe-, Zn-, Cu-, Pb-, and Hg-sulfide minerals, Ba in barite, and Eu in all mineralized deposits were derived from hydrothermal fluids. Manganese oxides and associated elements (Co, Sb, Mo, W, Cl, and Cu) and Fe oxides and associated elements (Be, B, P, and Mo) precipitated as the result of mixing of hydrothermal fluids with seawater."

Jan 1, 1999

By Desmond M. Connor

"The State of the EnvironmentRecent data from a State of the Environment report prepared in January 1991 and released in April (see references) , indicates that the physical and biological environment across Canada is deteriorating in some important ways. For example: • emissions and atmospheric levels of CO2 are rising at a rate more than 50% of the U.S. increase; global temperature continues to rise, especially during the last decade;• while S02 emissions have been falling since 1984, NOz has declined only slightly since that time; N02 in Canada rose 43% during 1970-87, compared with a 7% rise in the U.S.;• municipal discharges of phosphorus and BOD (biochemical oxygen demand) to fresh water have been rising steadily since 1983);• pulp and paper mill discharges to fresh and Pacific coastal waters have been rising, 1970-87;• migratory game bird populations (Prairie Mallard, Northern Pintail) have been declining for the last 20 years;• total per capita energy use continues to climb.The State of the PublicSimilarly, data from recent public opinion surveys shows that public concerns about the environment are either rising, or are remaining at a high level despite the competing claims of the economy and political events for attention.For example, Professor Reginald Bibby&apos;s national survey this year shows that Canadians rank our top three issues as theeconomy, the environment and government incompetence.An Angus Reid survey commissioned by the Mining Association of Canada and other mining organizations in 1989 showsthat, despite general support for its economic benefits:• 67% of the general public perceive the mining industry to be a major source of pollution and environmental contamination;• 68% believe that a new mine should not be developed if it will disturb local wildlife;• 52% would prohibit a new mine if it required a road through a national park;• 49% would disallow mine development if it took as much land as an average farm in an agricultural area or if it limited sports fishing in a local lake."

Jan 1, 1991

"Option pricing is used in finance for valuing options to buy (or sell) shares at some future date because it provides a convenient framework for quantifying values subject to uncertainty. As one of the main sources of uncertainty in mining is the price (sales) of the metal, this approach can also be used for valuing mining projects.The first part of this paper reviews options and option pricing; the second part presents the approach developed by Brennan and Schwartz (1985) for using option pricing to value natural resources. Several applications of this methodology have been published; these are described. From a mining point of view, the assumptions made by Brennan and Schwartz are too simplistic. The weaknesses are discussed with a view to improving an apparently promising new way of assessing the value of projects. IntroductionThe collapse of the British merchant banking group, Barings, has highlighted the risks that can be incurred by speculators and arbitragers in the futures and options markets. But this negative attention on futures and options should not make us forget their positive aspects. They can provide producers and consumers of metals with more predictable sales prices. The introduction of the new traded average price options, TAPOS, by the London Metal Exchange in January 1997 is a response to this need. Equally important, the theory that the finance industry has developed for valuing options provides an interesting framework for valuing mineral projects as well. While this paper was being revised, the South African gold mining house, JCI, announced that it was using a methodology based on option pricing for valuing the mineral rights to deeplevel gold resources (see Box 1)."

Jan 1, 1997

This growing dependence of Canada upon foreign mineral commodities, just referred to, applies particularly in the direction of the United States. There is, in fact, no more significant feature of Canada&apos;s mineral trade than the manner in which it affects the Dominion&apos;s commercial standing with that country. Our heavy adverse balance of trade with the United States is perhaps not a matter of such wide concern or frequent comment as was the case two or three years ago. It is, of course, a well-known fact that the Dominion each year buys from the States a volume of goods to a value enormously in excess of our sales to that country. And it has come to be accepted as a ?normal, though not altogether satisfactory, feature of our international commerce that a huge portion of the bill incurred by our American purchases must be met, not by our American sales, but by the proceeds of our sales to other countries, not-ably Great Britain. It is a three-cornered situation in which our trading deficit with the United States is covered largely by our trading surplus with the United Kingdom. In this situation the mineral trade plays a remarkable part. If one delves into the details of our transactions with the United States it will be found that, in one sense, the mineral trade is entirely responsible for the huge annual balance against the Dominion. In fact, Canada gets decidedly better than an even break on Canadian American trade, if one leaves out of account the three mineral groups, "iron and steel", "non- metallic minerals", and "non-ferrous metals".

Jan 1, 1924

By Keith C. Hendrick

"Metal prices are frequently the most critical and least predictable element in determining the profitability of mining operations. Short -term fluctuations can be offset in varying degrees by hedging or other market actions. Such solutions are not practical for the longer term, The paper investigates the nature and extent of metal price risks and evaluates methods to reduce them.IntroductionIt is management&apos;s responsibility to improve the odds by managing the-risks by identifying them clearly, assessing them accurately, minimizing them where possible-and, then, timing decision s success fully.In determining the profitability of current operations, preparing forward plan s or developing feasibility studies for new projects or expansions, pr ices are usually the most critical input. Being market determined rather than cost based, they can also be the most unpredictable As a result, commodity prices are frequently the greatest of all risk factors.Nature of Commodity PricesThe cyclical nature of commodity prices is well known. They are stable only when supply is in balance with demand and forecast to remain that way. An imbalance on either side of the equation can lead to a price reaction completely out of proportion to the actual or perceived surplus or shortage.This exaggeration arises through the cumulative effect of market forces. When the market senses an uptrend, consumers buy for the expected increase in activity. They also seek additional quantities for inventory before price s rise. Merchants defer spot sales anticipating higher price s, speculators go along for the same reason, and producers raise prices in response to demand. Events tend to confirm the expectation of each party and strengthen their reaction causing prices to move higher."

Jan 1, 1983

By R. W. Boyle, W. Dyck

"Scientists throughout the world have observed radioactive disequilibrium in the uranium decay series. Radiometric and fluorometric determinations of U in plants from the Goldfields district and in sediments and rocks from the Beaverlodge district exhibit marked radioactive disequilibrium. The eU/U ratio in plants rooted in mineralized ground shifts from greater than unity to less than unity for those rooted in background soils. A similar shift is observed in the transition from rocks to stream sediments and to lake sediments in the Beaverlodge district.Results of a Rn-Ra-U survey of lake bottoms in the Key Lake district show that anomalous hydromorphic U from U mineralization is parallelled by anomalous Rn, even though there is much less Ra in the lake-bottom sediments than one would expect from the amount of U present. IntroductionDisequilibrium in the U decay series has been studied for many years and is observed in almost all surficial environments. Rosholt (1959) measured U, 234Pa, 23O&apos;fh, 226Ra, 222Rn, and 210Pb in a large number of U ores and outlined six types of situations to explain disequilibrium. Davy (1974) outlines the geological significance of radioactive disequilibrium situations with respect to exploration. Levinson and Coetzee (1978) discuss possible mechanisms by which separations of parent and daughter elements are affected and suggest analytical pitfalls that may be encountered in the use of radiometric techniques when disequilibrium has occurred. Generally, it is the oxyphile and easily complexed parent 238U (with its associated isotopes 235 U and 234U) that is leached from rocks and soils at a faster rate than are the daughters, 230Th, 226Ra, 2loPb, and 206Pb. This mobilized U is adsorbed on sediments in streams and lakes, or enters groundwaters, where it is eventually precipitated under reducing conditions, occasionally in oregrade concentrations. This surface leaching and"

Jan 1, 1980

By J. Mackintosh Bell

External trade strongly influences the well being of all nations. In the modern economic mechanism, no country is so well endowed that it has not to import commodities from others and to export its products in turn to make good its deficiencies, to rectify or improve its financial structure. From the standpoint of international commerce, Canada is strategically well placed. On the south she is bounded by the richest country in the world. On the east she faces the Atlantic, on the west the Pacific. On both coasts there are fine harbours to which lead great lines of railway that span the continent. Canada is now fifth among the exporting nations of the world. For disposal abroad, she has enormous quantities of primary commodities and substantial amounts of manufactured goods as well. But she is far from being self-sustaining. She is unusually dependent on foreign trade, not only because of the commodities she has to sell but because of the lack of many essential articles she does not or cannot produce. To Canada, external commerce is vastly more important than internal trade. The wealth of nations is decided by their ability to produce more than they need, to sell more than they buy, and to build up favourable balances resulting from trade or services. With few countries, however, are returns perennially satisfactory. Fruitful periods are followed by leaner years. In times of prosperity foreign credits are increased, monetary systems strengthened, reserves accumulated to withstand recurring days of strain. Today, the foundations of financial systems are being re-examined, "dogmas hitherto accepted as canonical are being questioned" . It is not only in Europe and America that men search for illumination in problems arising from monetary restrictions.

Jan 1, 1933

By Jennifer L. Durocher

The speciation of Uranium in silica-rich depositional layers in the proximity to uranium ore deposits was investigated using micro X-ray fluorescence (VESPERS beamline), X-ray Photoelectron Spectroscopy, Laser-Ablation ICP-MS, Scanning Electron Microscopy, X-ray diffraction and micro-Raman Spectroscopy. The heterogeneous Si-rich laminations contain micrometer-size inclusions of secondary uranyl-minerals. The U concentration in these layers range from several ppm to lower weight percent and the U 4f spectra indicate variable U6+ : U4+ ratios. Correlation between the concentrations of U and other metals (M) suggests the presence of M-U-bearing nanoparticles or species within the amorphous silica matrix.

Aug 1, 2010

By Giles St. Pierre

"The purpose of this paper is to report in a general way on the use of the Portaspec X Ray Spectrograph.At Manitou Barvue, we are milling two types of ores, copper and zinc. The control assay practice was to take grab samples at 4 hour intervals. These samples were dried in the mill, then taken over to the Assay Office where two operators would process them. Three hours later results were available at almost the same time as the operator was ready to take his set of grabs again, leaving no time for adjustments, if any were needed.After a reduction of personnel, there were no assays available on night shift. This practice was slow and inadequate, and a new way of doing control assays was investigated.After investigation the Portaspec was found suitable for the type of operation that we had in mind. The Portaspec is a conventional dispersive type of X Ray spectrograph. The instrument consists of three parts:The Power Supply The Spectrographic Head The Digital ScalerIn our case, where dried powder samples are analyzed, the instrument was provided with a two sample holder using one for the standard and the other for the sample. The operation of the instrment does not require any degree of skill or knowledge of chemistry or spectrography.Previous to buying the instrument, six sets of six to ten samples were sent to the supplier along with the assay for each sample. These samples were Cu. HDS., Cu. Conc., Cu. tls, - Zn. HDS., Zn. Conc., Zn. tls. A definite pattern was observed. For example - six Cu. HDS. samples ranging from .40 to .90 gave 10400 counts for the lowest to 16.040 counts for the highest. The number of counts were then plotted to give percentages."

Jan 1, 1971

By L. Garrigues, M. Jarvis, M. Halhead, O. A. Bascur

"Large variability of ore types, escalating variables operating costs and increased throughput require large investment in sensors and systems in mineral processing operations. Mining and mineral processing plants collect and manage more data than a small city with much in real-time. The data is changing rapidly as internal and external conditions evolve. As corporations buy and sell assets, and reengineer their staff, the structure and tools that were used to understand this data is lost. This results in significant deterioration in the ability to maintain a smart operation. When data is recognized as a critical asset and managed as part of an infrastructure, it become a key enabler to help transform the entire operations. In many situations, all partners in business collaboration—such as join ventures, contract manufacturer, expert service providers, and operations and maintenance companies—need access to production and asset data. The emergence and maturation of Cloud technologies make it possible to easily connect the plants to external equipment suppliers and operational support service.This paper will share examples of how mineral processors have adopted new data strategies such as self-service business intelligence, cloud computing and internal/external collaboration.INTRODUCTIONOne of the main challenges in mineral and metallurgical processing plants is effective energy and water management. The lowering of ore grades requires higher throughputs while the ores are getting more complex with variable mineralogical compositions. Electrical energy supply is becoming a restriction in many countries. Rising water management costs has a direct impact on the profitability of the operations. Grade recovery versus energy consumption in copper production for both open pit and underground mines has been described by Fuerstenau (2001). Comminution uses over 55% of the energy to produce nonferrous metals while other operations require much less energy (Nelson, Richins, & Lelinski, 2013)."

Jan 1, 2016

By George C. Bateman

WHAT I would like to do is to talk for a while tonight about the Canadian mining industry in wartime-at least, the Canadian mining industry as viewed through the eyes of the Metals Controller. There is nothing quite like the Canadian system in the system of controls in the United States, because the Canadian Controller combines the functions of a good many of the organizations here. I think the nearest counterpart would be the Divisional Chiefs of the WPB-although they have perhaps less authority and operate in a somewhat narrower field. My own field, as you know, is the metals and minerals-all of them, as a matter of fact, with the exception of steel and iron and coal and oil. And as I am responsible for supplies not only from domestic sources but also from foreign sources, I exercise most of the functions of the WPB and some of the functions of the Board of Economic Warfare. As my department is also responsible for stock-piling and for the financing of new operations, I therefore exercise some of the functions of the Metals Reserve and also of the Defense Plants Corporation. Being an administrator under the Wartime Prices and Trade Board, I also have the same function in relation w the price of metals as the OP A. The Canadian system of controls is compact, relatively simple, and I believe reasonably efficient. I think two of the reasons for that are that both the Controllers and the Directors of production are clothed with very wide authority, and also the fact that all the buying for the three arms of the service is done through the Department of Munitions and Supply, of which we are a part.

Jan 1, 1943

By R. M. Giegerich

"This paper begins with a brief history of Madawaska Mines, a brief description of the geology, mining methods and equipment, and the historical development of 7/8-in. tapered drilling equipment. It then outlines the performance characteristics and inherent problems of the traditional 12-degree, tapered connection, blade-type insert bits. Service-free (Unipass) button-type insert bits are presented as a possible solution to these problems. The paper concludes with an analysis of button bit performance to date.Brief History of Madawaska MinesMadawaska Mines Limited, near Bancroft, Ontario, is in Faraday Township, Hastings County, approximately 100 miles northeast of Toronto and 100 miles west of Ottawa.The mine re-opened in 1976committed to 1,500 tons per day to provide approximately 600,000 pounds of yellowcake (U3O8) per year to A.G.I.P. (an Italian government agency) under the joint ownership of Federal Resources Corporation, Salt Lake City (51%), and Consolidated Canadian Faraday Limited (49%). At present, the mine is producing approximately 2 pounds per ton (.1% U3O8) at the rate of 60,000 pounds per month. The mine employs about 400 employees.Brief Description of Geology, Mining Methods and EquipmentGeologyThe Grenville metasediments of the mine area are chiefly paragneiss, amphobolite and some carbonate (marble) rocks, which were intruded by a basic rock, altered to a metagabbrometadiorite. These formations are generally concordant, striking east to northeast and dipping 45 to 60 degrees to the south. Locally, the metagabbro is often discordant. The above group of rocks (mixed hybrid gneisses) forms the hanging wall of the south-dipping Faraday granite sheet and was intruded by nepheline syenite, syenite and granite. The ore occurs in the granite-syenite-pegmatite dykes that are probably genetically related to the Faraday granite. The ore shoots are erratically distributed within the pegmatite bodies, mainly on the hanging or footwalls but also medially. Their size varies from 50 to 350 feet in length, 5 to 40 feet in width and 50 to 200 feet in height. The ore occurs most frequently in a medium-grained granite or syenite, well hematized with 10 to 30% mafic crystals of pyroxene, amphibole and/or relics of the host rock."

Jan 1, 1982

By Karl J. C. Harries

Mineral Agreements and Royalties

Jan 1, 2003

By Ivan C. Machado

Jaguar Mining Inc. is implementing a 1.1 Mtpy, 7-year LOM gold project in the Iron Quadrangle (?Quadrilátero Ferrífero?), Brazil. Construction is on schedule and startup is programmed for Q2 2010. Mill feed grade averages 4.43 g/t and LOM gold production is estimated at 800,000 oz. The project entails two sulfide underground mines and three oxide/transition open pit mines. A state-of-the-art flotation/gravity concentration/CIP Plant has been designed based on testwork carried out by internationally recognized Canadian, U.S., and Brazilian laboratories. The mass recovery of the flotation section is only ca 10%, while its gold recovery is about 90%. Therefore, the CIP-ADR Plant will treat only 10% of the solids mass contained in the mill feed, while 90% will be fully cyanide-free material that will be partially used to feed a Backfill Plant. The leached tailings will be conveyed to a rather small tailings dam, whose 20- m3/h supernatant solution will be treated by a new electrolytic technology. The plant design contemplates a High Density Thickener for the cyanide-free rejects exceeding the backfill demand and a Regrinding Section before the Leaching Circuit. The estimated overall metallurgical recovery sits around 92%. This paper focus on the use of modern technologies to reduce costs, risks, and liabilities.

May 1, 2010

"ChairmanThis part of the discussion is intended as an exchange of information between those who have installed rubber liners in their mills and a means of others to get information that may help them decide if rubber liners would be applicable to their mills.To start the discussion and to relate it to the previous section of this symposium Mine Equipment Co. Ltd. have supplied some graphs that will give some idea of the noise suppression that may be expected from the u.se of rubber liners instead of steel. The figures used in preparing the graphs came from installations of rubber liners in Sweden.L. Strah - Mine Equipment Co.The graph, Figure 1, shows on the bottom the octave band range. The noise level generated by the steel liners is represented by the dotted line and lies within the shaded area where it is considered that hearing damage may result. The solid line represents the noise level generated by rubber liners in the same mill and you will see it is below the shaded area. Although it is not marked on the graph I think the decibel range is from 7 5 to 115. The next one, Figure 2 which shows the relative noise levels generated by steel balls and pebbles with both steel and rubber liners shows the decibel range."

Jan 1, 1968

By Dale C. H. Nevison

One of the most intensive of material rivalries is the confrontation between zinc die castings and plastic injection moldings. Pressed hard by the plastics industry, zinc die casters are learning how to make parts with less material yet without sacrificing quality. The key to this new trend is the technique of Thin Wall die casting. The obvious benefits of Thin Wall are lighter weight and lower cost. Again, obviously, these are the very selling points that put plastics into many appliance and automotive parts formerly made of zinc. One of the factors that has been most conducive to the outstanding growth of plastics has been the increasingly prevalent concept that "adequate" properties are sufficient, especially if there are cost advantages. Most of modern design today is oriented around the reasonable life of a product, rather than indefinitely extended life. This is simply an acknowledgment of the existence of a design environment that pervades many areas, reflecting the life-cyclic desire for change. Too often, so-called "weight-saving" materials end up being very costly - not only in production, but in durability and dependability. Change for the sake of change usually doesn&apos;t effect a change for the better. In the majority of cases, the best bet is to design in traditional materials and minimize the material needed, while maximizing the efficiency of the production process. Component prices of products to be produced from either plastics or zinc must be studied in detail to determine which material will produce the lowest cost of manufacture. It is not uncommon for two parts, similar in appearance at a casual look, to have a considerable difference in energy requirements and production costs. Detailed cost estimates of the advantages of each material should therefore be prepared for zinc and plastic parts before the final design and material selection decisions are made.

Jan 1, 1978

By Jean-Paul Drolet

"This paper charts, briefly, the :salient facts of international trade in minerals and their products and Canada's place in it. It also reviews inter-national agreements, economic groupings and national measures to channel and regulate production and trade in minerals. Canada's mineral industry now produces raw materials worth $3.7 billion per year, making this country a giant among mineral producers. Two-thirds of this production is exported, chiefly to the United States, accounting for about 30 per cent of Canada's merchandise exports and topping all other classes.However, several other nations are also pressing the development of their mineral resources and markets. The Soviet Bloc, China and principally Australia and Africa are becoming important suppliers of basic raw materials to some traditional markets of Canada in Europe and Japan.The outlook for Canadian mineral exports to the countries of the Common Market, Great Britain and Japan is good, although some tariff barriers remain troublesome.Concerning the United States, our most important market, Canada is seeking to have that country lift import quotas on lead and zinc, and re-cent statements by U.S. authorities give hope that this may be achieved soon. Moreover, Canada wishes to obtain easier access to the American market for several of its metals and minerals.Canada is now participating in the Kennedy Round of tariff talks under the auspices of the General Agreement on Tariffs and Trade (GATT), and is seeking to open wider doors for its exports of products.In summary, Canada has done reasonably well in some mineral commodities on world markets, but has lost ground in others. Any slackening of Canada's efforts in the development and marketing of mineral resources would soon lead to the decline of its role in the world miueral economy."

Jan 1, 1966

By S. B. Ballantyne, D. R. Boyle

"Detailed studies have been conducted on the dispersion of uranium in stream waters and sediments around various types of mineralization and hitherto unexplained anomalous areas in the Okanagan Valley and Highland region of south-central British Columbia. These studies were part of the jointly funded and planned Federal-Provincial Uranium Reconnaissance Program of the Geological Survey of Canada and the British Columbia Ministry of Energy, Mines and Petroleum Resources. Statistical analysis of regional data indicates that U in stream waters and sediments varies considerably for different rock types, thus affecting data interpretation. In addition, the data demonstrate a poor correlation between U in stream waters and their associated sediments which can be largely accounted for by variations in climate and water and sediment composition. Regional trends in the distribution of U can be explained in terms of the above secondary factors as well as primary metallization phenomena.Significant correlations between U and F, and U and Mo can be explained by certain magmatic and mineral-forming processes. U shows little correlation with other base metals.The dispersion characteristics of U in the vicinity of Miocene "" basal type "" mineralization ; uraniferous pegmatite terranes, anomalous lineaments in granitic terranes and high-background volcano-sedimentary areas are discussed. Highly anomalous U concentrations in waters and sediments may not always be indicative of mineralization, and guidelines for interpretation require a sound knowledge of the geological and secondary processes operative in the area."

Jan 1, 1980

By R. Al-Hent, M. Aissa, J. Asfahani

"This paper presents regional radiometric gamma-ray spectrometry maps of Syria for total radioactivity (Ur) and surficial concentrations of equivalent uranium (eU). The maps were created by merging airborne and ground-based gamma-ray spectrometric survey datasets. On the regional radiometric eU map, eU anomalies are closely related to either phosphate and/or glauconite deposits. The Ur and eU maps delineate the boundaries of three phosphate deposits, close to the Palmyrides ridge, in the northern part of the Coastal Range and Syrian Desert. Scattered occurrences of uranium mineralization in other phosphate formations are attributed to secondary chemical and physical processes, rather than primary accumulation.RÉSUMÉ Cet article presente des cartes regionales radiometriques de spectrometrie gamma de la Syrie pour la radioactivite totale (Ur) et les concentrations en surface de l’equivalent en uranium (eU). Les cartes ont ete creees en combinant des ensembles de donnees, aeroportees et au sol, de releves de spectrometrie gamma. Sur la carte regionale radiometrique eU, les anomalies eU sont etroitement reliees aux gisements de phosphate et(ou) de glauconite. Les cartes Ur et eU delimitent les limites de trois gisements de phosphate, a proximite de la crete des Palmyrides, dans la partie nord de la chaine cotiere et du desert de Syrie. Des dispersions de mineralisation d’uranium dans d’autres formations de phosphate sont attribuees a des procedes chimiques et physiques secondaires, plutot qu’a une accumulation primaire."

Jan 1, 2016

By Karl J. C. Harries

"8.1. INTRODUCTIONThe purpose of this chapter is not to provide precedents or examples of provisions, but rather to offer some comments that may be worth considering in the negotiation or review of an agreement. These comments are not intended to be exhaustive. It must also be noted that, although the chapter is written in the context of a common law joint venture, the concepts and concerns for the most part apply equally to a corporation that is owned by only a few shareholders for the purpose of participating in the project held by the corporation.The corporation has the advantage of having much of its organization established by local corporate law, but the particular wishes of the shareholders will appear in a shareholders’ agreement. The principal differences will be surprisingly small, save for the acquisition provisions that appear in a farm-in agreement1 and the substantial portion of the joint venture agreement devoted to creating and organizing the joint venture entity. Where the joint venture agreement refers to venturers and committees, the shareholders’ agreement will refer to shareholders and the board of directors, but both will have to deal with such basic matters as decision-making, default, dispute resolution, first refusals, funding, and carrying out work on the project. For convenience, this chapter usually refers to “venturers”, which may be taken to include shareholders.Negotiations give rise to many varying circumstances and concerns, and the main asset of the negotiator is an open and flexible mind. A desired result can often be accomplished indirectly in circumstances where the other side has adopted an inflexible position on a suggested approach. As precedents and standard forms tend to focus a negotiator’s thinking, they can be counterproductive. It is after the deal has been agreed to that a precedent can be of great assistance to the draftsman.The concepts are arranged in alphabetical order for convenience, not to suggest their sequence or position in an agreement or their relative importance. An agreement should adopt a progression of subjects in what the parties consider a logical sequence to read and work with. However, experience has indicated that it is best to set out in a single article the substance of the deal (i.e. the terms relating to the farm-in and what the acquiring party has to do to acquire his interest), preferably near the beginning of an agreement. The acquisition of the interest is, after all, the first order of business. The joint venture provisions will then follow in a reasonable sequence. It is also worthwhile to devote a single article to any special provisions that may apply during the earn-in period. For example, it may be provided that, although all work is to be done by the acquiring party as operator (with the duty of care, liability, and reporting requirements as set out in the joint venture sections of the agreement), but during the acquisition period, the acquiring party, acting as operator, may be at liberty to do such work as he wishes, without the need for any committee or other approvals, and committee meetings may be suspended.2An agreement is divided into paragraphs and articles to make it easier for the parties to read and understand, and to assist a party in finding “that provision” when the need arises. A comprehensive table of contents will also assist the parties who must work under an agreement. An added benefit of a table of contents is that in preparing it, the draftsman sees the overall structure of the agreement and will often catch and correct flaws."

Jan 1, 2003