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By C. Cristonffanini, S. Nazari

"In the past, simulation was considered to be an offline tool disconnected from plant operation. Advancements in the computation power combined with utilizing physics and chemistry sciences have allowed us to significantly improve the modeling and simulation technology for mining and mineral processing. This paper investigates the benefits of first principle models and simulation by connecting them to real time operation. Process data are connected to high fidelity models executed in parallel to the operation. In recent literature, this concept is known as Digital Twins. The Digital Twin is used for various purposes such as optimization, virtual instrumentation and condition monitoring. Using IDEAS™ simulation software we are able to construct a digital twin for different equipment inside a mineral processing plant. Two case studies for building a digital twin for the primary hydrocyclone feed pump and thickener underflow are presented. Using the pump’s model, a digital twin is developed and is installed in a gold extraction plant that is able to infer the slurry density in real time. Additionally, it is used for detecting sanding in the pipes and impeller condition monitoring.INTRODUCTION Since the eighties, thanks to advances in computation technologies, computer based simulation of processes using first principle models has become a well-known engineering tool for various industries. As our understanding of processes has increased, their representative models have become more realistic and more sophisticated. Due to this increase of accuracy, use of simulation is becoming more fundamental in process industries. The main goals to use accurate simulation is to decrease the engineering and construction cost, optimize the process design and improve the operation performance by decreasing operation cost and increasing efficiency. The term Digital Twin was first introduced in 2010 by NASA (Shafto et al., 2012) in aerospace industry. Subsequently, the concept quickly spread through other industries. As of today, no standard organization has provided an official and unique definition of Digital Twin for process industries. However, there are three important aspects that are common throughout various descriptions. When simulation is core functionality of the process (1) along the entire life cycle of the plant (2) with direct linkage to operation (3), it is called that process has a Digital Twin. According to Gartner, the concept of Digital Twin has elected as fourth most important disruptive technology for the year 2018 (https://www.gartner.com/, 2017)."

Jan 1, 2019

By F. Chiesa

The permanent mould process, which is a favoured process for producing premium quality aluminium casting, is rarely used to produce magnesium alloy parts. This may be attributed different factors such as: the reservation with which the automotive industry considers using magnesium in structural castings; also the relative hot shortness of most magnesium alloys when compared to aluminium A356/357 is another factor. A third reason stems from the fact that the "heat content" of magnesium is much less than that of aluminium, resulting in the difficulty, for a relatively slow process such as permanent mould (versus pressure die casting), to reach a mould dynamic equilibrium temperature sufficiently high to avoid premature freezing and misruns. The present work will address this problem by carrying out controlled cycling of a laboratory mould, poured with aluminium and magnesium alloys. The influence of insulation of the mould and artificial electric heating on the run-in mould temperature will be determined experimentally. A thermal model will be sought for these thermal devices that will allow to predict the thermal behaviour of moulds of different geometry before a single casting is poured. The model will be tested on an industrial casting in a workshop environment.

Jan 1, 2006

By J. R. Levin, E. J. Schelter

"We present some of our recent efforts in the development of predictive, directed oxidation chemistry of cerium(III) complexes under non-aqueous conditions. The electrochemistry of cerium(III)- alkali metal heterobimetallic aryloxide complexes is reported and compared with cerium aryloxide complexes that are kinetically stabilized by hydrogen bonding cations that span between the complexed aryloxide ligands. Comparative electrochemical measurements reveal differences between the heterobimetallic complexes and the hydrogen-bonded complexes.INTRODUCTIONThe rare earth elements comprise the lanthanides, La–Lu, and the element yttrium (Aspinall, 2001). Rare earth ores such as monazite, LnPO4, and bastnäsite, LnFCO3, typically bear mixtures of light rare earths: La–Sm while monazite, LnPO4, contains mixtures of heavy rare earths (Eu–Lu) (Cotton, 2006). Pure rare earth elements typically are isolated using a liquid-liquid separations process.(Bautista, 1995) The hydrometallurgy of these elements is a difficult problem because the separation factors between neighboring rare earths, which are predicated on the small differences in the sizes of the trivalent ions, are quite small (Cox, 1992). The element cerium, with its 4f1 electronic configuration in the trivalent state, is unique among the rare earth elements due to a relatively accessible 4f0 electronic configuration. The accessibility of the 4f0 configuration underlies the chemistry of cerium(IV), the only rare earth ion with molecular chemistry in the tetravalent oxidation state (Cotton, 2006). Cerium is trivially separated from mixtures of light rare earths by making use of its unique oxidation chemistry. In an effort to extend separations chemistry by oxidation reactions to other rare earth elements such as terbium and praseodymium, the solution electrochemistry of well-defined cerium complexes is of interest."

Jan 1, 2012

By N. Wachgama, J. P. T. Kapusta, R. U. Pagador

The Thai Copper Industries smelter (Thai Copper) is located some 200 km southeast of Bangkok near the MapTaPhut deep sea port in one of the industrial centres of Thailand. Although construction of the complex started in the mid 1990s, the smelter, acid plant and refinery were completed in 2004. Thai Copper is a state-of-the-art copper smelter processing imported concentrates with a total yearly capacity of 165,000 tonnes of cathodes. It employs the El Teniente Technology where concentrates are blended and smelted continuously in a primary smelting reactor to produce high grade matte or white metal. The white metal is converted in batches to blister copper in Hoboken siphon converters equipped with Air Liquide Shrouded Injector (ALS I) Technology for sonic injection of oxygen enriched air. Final refining is carried out in two anode furnaces prior to anode casting and electrorefining. Thai Copper and Air Liquide Canada executed a technical assistance agreement in late 2005. Pre-commissioning of the shrouded injectors took place in July and November 2006 while hot commissioning occurred in December 2006. This paper presents the major technical aspects of the joint commissioning, including the establishment of operating practices specific to shrouded injection converting. Preliminary results of this first commercial implementation of ALSI Technology in copper converting are also provided.

Jan 1, 2007

By Colin E. Dunn

The high mobility of gold within the plant kingdom results in detectable accumulations of gold in many plants. Concentrations vary within individuals, among species, and with seasons. From an evaluation of the chemistry of easily acce sible organs of common pecies in the northern forests, it is concluded that alder twigs (or leaves) and conifer bark scales are the vegetation components of greatest use in the earch for concealed gold mineralization. Maximum anomaly enhancement is obtained from twigs collected in the spring. Examples are given of urvey conducted in the La Ronge Domain using 1) jack pine bark (A nglo-Rouyn and Upise Lake areas) ; 2) alder twig (McLennan Lake) ; 3) black spruce bark (Rod Zone near Mallard Lake, and at Waddy Lake) ; and 4) multi-media (Tower Lake). At the latter two sites gold-bearing till is blanketed with late glacial material. Gold enrichment in the plants suggest that the roots are ab orbing gold from the underlying till. Complex processe control the uptake and retention of gold in plants. An understanding of these processes pem1its biogeochemistry to assist in locating near- urface mineralization .

Jan 1, 1986

By J. Graham Eby

"This paper describes the development and some typical applications of Wemco's large-capacity flotation machines, the No. 120 and the No. 144, with volumes of 300 and 500 cubic feet, respectively. During the 1960's, it became obvious that low-grade orebodies would be mined at high tonnage rates - plants and grinding mills would be larger, which would create a demand for larger flotation equipment. To meet this demand, Wemco developed a single-mechanism, 300-cubicfoot cell, having five times the volume of the standard No. 66 cell. The average production rate of the No. 66 cell on porphyry copper ore was 100 tpd per cell; and it was our intention that the No. 120 (300-cu. ft) cell would handle 500 tpd per cell, with at least equal metallurgical results and power consumption per ton. The success and industry acceptance of the No. 120 cell has since led to the development of a larger cell, the No. 144, having a volume of 500 cubic feet."

Jan 1, 1972

By Patricia J. Dillon

Established in 1997, Prospectors and Developers Association of Canada Mining Matters (PDACMM) is a registered charitable organization dedicated to providing Earth Science education to grade school students. Through the development and distribution of educational programs and materials, PDACMM informs students of Canada?s geology and mineral resources as well as promoting awareness of the importance of rocks, minerals, metals and the mining industry. PDACMM also co-ordinates with other charitable organizations and government agencies to provide support or to work in tandem with them and reach as many young people as possible. Although PDACMM became a charitable organization in 1997, it actually has its? roots in 1994 when the Grade 7 program Mining Matters/Une Mine de Renseignments was developed to help teachers bring geology and mining into the classroom. Over 2100 of these resource kits were distributed to teachers across Ontario during the period 1995 to 1998. This unit won national recognition when it received the prestigious Partnership Focus award from the Conference Board of Canada for ?promoting science literacy for the world of work?. Due to the phenomenal success of these kits, a Grade 4 kit entitled Deeper and Deeper/Aller au Fond Des Choses was developed in 1998 in response to the opportunity provided by the new Ontario curriculum released at that time. Over 2600 of these kits were distributed throughout Ontario and there is a substantial waiting list of teachers hoping PDACMM will be able to raise enough money for another print run.

May 1, 2002

By Daan Maijer, Wade Marquardt, Robert MacKay, Steven Cockcroft, Farzaneh Farhang Mehr

"To comply with the new Corporate Average Fuel Economy (CAFE) standards, the automotive industry is aiming to reduce weight and increase the power and efficiency of small displacement engines through the application of forced induction technologies. As an example, there are now several 2.0 litre turbocharged engines in production, producing in excess of 240 hp. To meet the need for improved fatigue properties in the engine blocks used in these high-output engines, a new water-cooled chill technology is under exploration at UBC in partnership with General Motors and Nemak. A series of experimental techniques were used to assess the capability of the new chill to extract heat from an A319 casting in the vicinity of the main bearing bulk head. The results show that this method has the potential to achieve a reduction in secondary dendrite arm spacing thus meeting the new microstructural specifications for these engines.INTRODUCTION The automotive industry is working to meet the stricter efficiency requirements laid out within the CAFE (Corporate Average Fuel Economy) regulations (Bastani, 2012; Cole, 1995; Mackay, 2011; Miller, 2000), while at the same time not sacrificing performance. One approach is to increase the use of lightweight materials, which leads to a decrease in the overall vehicle weight and fuel consumption (Cole, 1995; Mackay, 2011; Miller, 2000). Other approaches include smaller displacement engines and gas-electric hybrid drivetrains. However, one trend that is becoming clear, is a greater emphasis on force induction gasoline engines. This allows for weight reduction to be achieved with smaller displacement engines without sacrificing performance. One consequence of this approach is that the engine block materials are subject to higher in-service thermal and mechanical cyclic loads (Cole, 1995; Miller, 2011; Heysler, 2001) The fatigue properties of an alloy are strongly affected by a number of the, as-cast, microstructure features including, Secondary Dendrite Arm Spacing (SDAS), porosity and eutectic lamella spacing (including intermetallic ß-Al5FeSi platelets) (Mackay, 2010a; Mackay, 2010b; Viet-Duc, 2015; Casellas, 2005). It is generally accepted they can act as fatigue initiation sites and that a reduction in their size will result in an improvement in fatigue performance. For a given alloy chemistry, one of the key parameters affecting the length scale of all three is cooling rate (Mackay, 2000)."

Jan 1, 2017

By Fred G. Hewett

Cassiar Mine in northern British Columbia began development in 1952. The deposir is found on rhe west limb of rhe McDame Synclinorium in a Mississippian serpentinite body. The serpenltntte, one of the McDame l ntrusives, imrudes Sylvester Group . rocks, which comprise a Lare Devonian to Early M1ss1ss1pptan eugeosync/inal sequence of argillites, quarrzires and volcanics. The foorwall conracr berween Sylvester Group rocks and rhe serpenrinire is a marked zone of broken and incomperent argillite and graphitic schist. The less marked hang- 111gwall contacr 1s a band of indurated argillite. The JurassicCretaceous emplacemenr of the Cassiar Graniric Barholilh is responsible for mosr of the numerous )aims, faulrs and shear zones found in the serpentinite body. Faulting occurred borh before and after asbestos formation. Asbestos is mined from an open pit ar rhe rate of 4,535 ronnes daily. It passes from the pir along a rramline to the mill, where it is concen/rared into nine direcr milling grades. Packaged fibres travel ro over 40 counrries around rhe world for use in the texrile, cemenr and other industries.

Jan 1, 1984

By David A. Orava, Richard C. Swider

"The technical knowledge and practical experience accumulated by industry and others in abating acid mine drainage (AMD) is being proactively applied at every phase of the mine life cycle. This paper traces the mine life cycle from exploration to post closure monitoring and maintenance, and reviews AMD abatement measures that have become an integral component of exploration and mining activities.Attention is increasingly being given to evaluating AMD potential as part of exploration work, and studies related to project feasibility and design. Mining, mineral processing, and waste management options are selected taking into consideration their suitability to inhibit AMD. These inhibition measures are typically committed to in closure plans submit-ted at the permitting stage. Mines are operated and decommissioned, often progressively, as planned and in accordance with environ-mental protection policies."

Jan 1, 1996

By A. Alfantazi, E. Asselin

"The corrosion of commercially pure titanium (CP-Ti) was studied from room temperature up to medium temperature (~160°C) under conditions relevant to medium temperature chalcopyrite leaching processes. The corrosion rates were measured by immersion and electrochemical tests in sulfuric acid. The influences of chloride, cupric and ferric ions on the corrosion rate and behavior were also investigated. Corrosion of the CP-Ti did not account for the total current density measured by linear polarization tests. The corrosion rates of CP-Ti under medium temperature leaching conditions were surprisingly high. The corrosion rate measured in ferric containing solution at 160°C was approximately 20 mm/yr.INTRODUCTIONTitanium exhibits excellent corrosion resistance in many aggressive environments because of the formation of a very chemically stable, highly adherent, and protective oxide film on its surface (Mitsuo et al., 2002). Because titanium is the only metal available at a reasonable cost that resists the high temperature corrosive slurries in many leaching processes, it is often chosen as autoclave liner material where it is subjected to severe conditions of acidity, temperature and pressure (Grauman and Say, 2000).A number of distinctly different hydrometallurgical processes for the pressure leaching of chalcopyrite have been developed and patented by various companies and they can be classified into low, medium and high temperature regimes (McDonald and Muir, 2007). For example, chalcopyrite concentrate may be processed at medium temperatures (115-175°C) and pressures of 800-2200 kPa (Dreisinger, D., 2006; Sahu and Asselin, 2011). The lixiviant may contain 20 to 55 g/L sulfuric acid, 8 to 12 g/L chloride ions, 10-25 g/L Cu2+ (Jones, 1995, 1997, 1999), and less than 1 g/L Fe3+ (Defreyne et al., 2005). The amount of these additions is determined by the grade of the ores and details are shown in Table 1."

Jan 1, 2012

By D. Adiguzel

In this research, providing the sustainability of production quality was aimed for a quarry which is located in Istanbul western part of Turkey and producing concrete aggregates with different types of rock. First, research field was divided in 3 different areas in accordance with the geological differences and parameters that control their product quality, limit values of standards and effect levels were determined. Concrete aggregate conformity tests which are stated in international standards were applied on samples which were taken from these 3 different areas and physical, geometric and chemical properties of each rock type were revealed. The properties of the 3 different types of rock which were produced in the quary were determined and the binary blends were composed. Blending studies were conducted with linear programming technique. In the linear programming model, the cost of aggregate production was aimed to be minimal. The limit values that meet literature and national standards for usability of aggregates in concrete were defined as constraints in the linear programming model and evaluated with objective functions, thus the most suitable aggregate blends were composed. In conclusion, to provide the sustainability of product quality, the most appropriate product blends were composed for the research field and the usability of this model for those quarries were revealed.

Aug 1, 2013

By V. Bazhko, V. Yahorava

The calcium sulphate waste stream of the wet phosphoric acid process, commonly called phosphogypsum (PG), contains the majority of rare earth elements (REE) initially present in the apatite feedstock. Mainly light and middle REE are present in PG and their total concentration ranges from 0.27% to 0.35% by mass. Worldwide, around 7 billion tonnes of PG have been produced to date at a current growth rate of 150-200 million tonnes per annum. In total, an estimated 21 million tonnes of REE are locked in PG waste dumps around the world. Due to the value of the REE contained in PG dumps a number of processes have been devised for their recovery. The majority of these processes applied complete or partial gypsum dissolution, but were deemed not viable due to high capital and operating costs. Mintek developed an alternative method for the recovery of REE from PG by applying Resin-in-Leach (RIL) technology. This technology was tested on PG sampled from dumps and current arisings from South African phosphoric acid production plants. The extensive testwork program included evaluation of various lixiviants and optimisation of lixiviant additions, optimisation of REE leach and adsorption conditions, batch equilibrium and kinetic adsorption tests, continuous RIL testwork and numerous variability tests. It was found that PG from different sources was highly variable, both in terms of REE recovery as well as physical properties of the material such as viscosity and filterability of the slurry. The recovery of REE varied from 15% to 80% depending on the origin of the samples. A high-level economic study indicated that at a price of >21 $/kg for mixed REE oxide product in conjunction with an overall REE recovery as low as 15% the economics of REE recovery from PG via RIL technology may already be favourable.

Jan 1, 2016

By L. H. Chen, Y. C. Chen, Leo Benyamin, W. C. Chen

"To investigate the evolution of fluid-driven fracture of rock-like material subjected to borehole fluid pressure and its consequential damage with regard to post-peak stabilization, micro-seismic activities have been monitored using nondestructive technique of acoustic emission (AE) corresponding to the macro-scale complete history of loading curve by setting the hollow cylindrical external circumferential strain to be a closed-loop feedback signal during servo-fluid-driven tests. Development of a novel fluidinduced loading system injected from internal borehole as well as monitoring system were equipped such that the initiation and propagation of micro-cracks enable to analyze experimentally. By programming/controlling either injection rate or fluid pressure, synthetic sandstones with low-permeability made by cement mortar were conducted in this study. It found that both the growth of macro-crack initialized intensively as reaching the breakdown pressure and the micro-seismic activities represented by AE locations show nice agreement. The experimental results in this paper provide better understandings of fluid-driven fracture mechanism.INTRODUCTIONFluid-driven fracture is a process of generating cracks by injecting viscous fluid into solid material. Conventionally, fluid-driven fracture tests have been performed by mining industry to measure the in situ stress (Haimson & Fairhurst, 1969) and fluid-driven fracture has been employed by the petroleum industry to recover oil and gas. Additionally, the mechanism of crack growth or the extension of existing cracks is important to the evolution of volcanic dikes over distances of a few kilometers (Lister & Kerr, 1991; Rubin, 1995), crack propagation in dams (Bolzon & Cocchetti, 2003) and the disposal of radioactive waste (Sun, 1969)."

Jan 1, 2015

By S. Glen

Cyanide management practices on modern gold plants are becoming more onerous, due to environmental pressures, particularly for signatories to the International Cyanide Management Code. Operations are therefore seeking to reduce levels of weak-acid dissociable (WAD) cyanide reporting to spigot discharge as well as to any eventual discharges from the tailings storage facility (TSF). Current gold industry standard processes primarily include the oxidation of cyanide by means of sodium meta-bisulfite (SMBS, or SO2) with air, Caro&apos;s acid (H2SO5) or hydrogen peroxide (H2O2). These processes require the transport and usage of expensive oxidizing reagents, along with the safety and environmental issues associated with these corrosive and toxic chemicals. Maelgwyn Mineral Services (MMS) has developed the MMS CN-DTM process, which utilizes the Aachen ReactorTM, a high-energy mass-transfer superoxygenation system, in conjunction with an activated carbon-based catalyst and no additional reagents, to increase the rate of cyanide oxidation to cyanate, the thermodynamically more stable form. Testwork conducted at the Maelgwyn Australia testwork facility in Perth Australia is described, at both pilot scale and continuous bench-scale, on a sample of tailings effluent obtained from an Australian gold plant. WAD cyanide is demonstrated to be lowered using the MMS CN-DTM process from an influent of 130 mg/L to the required levels for discharge to TSF (<50 mg/L). The continuous test results showed stable operation over three residence time turnovers. The pilot-scale results demonstrated the efficiency of the process at the reasonably large scales required for engineering cost estimation.

Jan 1, 2011

By Wynne Potter

"On the west coast of Cape Breton Island four coal basins have been identified, varying in age and extending from Port Hood northeasterly to Chimney Corner. Those of Chimney Corner - St. Rose in the north and Port Hood in the south belong to the Pennsylvanian Riversdale Group while lying between them are the coal basins of Mabou and Inverness belonging to the younger Pictou Group. Almost all of the coal basins are submarine and coal mining was carried out on all basins at various times. The seams in all basins dip steeply seaward at angles from 10 to 20 degrees but were found to flatten seaward. The coal is ranked as a high volatile C bituminous coal. Ash and sulphur contents are high compared with Sydney coal and the coal has a tendency to spontaneous combustion when stored in large quantities.Of the four basins, the most significant is that of Mabou. At Mabou recent seismic and drilling investigations have indicated that although a sizable reserve of coal may be found offshore the structural problems, particularly faults, and the poor quality of the coal encountered will make it a resource of the future, if at all. Inferred resources have been calculated at 150 million tonnes in four seams over a 10 km2 area and extending 3 km from shore. The quality of the Mabou coals varies with ash, ranging from 5 to 25 per cent and sulphur up to 6 per cent. Calorific value ranges from 25.3 Mj I kg to 31. 7 Mj I kg. The Port Hood and St. Rose -Chimney Corner fields (Fig. 1) contain 16 million and 3 million tonnes respectively, but the Inverness basin is considered to have been depleted. The active mine in this area is the Evans Mine at St. Rose that is currently producing between 30 -50,000 tonnes a year from proven reserves of approximately 3 million tonnes."

Jan 1, 1985

By L. W. Krahenbil

The programmable Logic Controller (PLC), at its present stage of evolution, is now considered as a mature control system. The PLC combines the solid-state reliability of hardwired logic and computer control systems with the simplicity of a relay ladder logic. Relay symbolic programming through a function-oriented keyboard provides a means which plant personnel can easily become accustomed to work with. In a large coal facility, it is shown that the control engineer can provide improved control flexibility with the advanced capabilities of the PLC.

Jan 1, 1979

By Osvaldo A. Bascur, Curt Heftier

The lack of integrated information including the Energy/Utility Suppliers with sufficient detail for analysis causes inefficient operation in metallurgical complexes including the Energy/Utility Suppliers . Defining the right context for information use is essential for sustainable operations. This being said, what are we doing to enable people to act upon information and to be aligned to optimize the use of resources like raw materials, energy, water and consumables for an entire metallurgical complex? Collaboration between all company entities is a key component of improving efficiency. Evolution of web technology and object modeling of enterprise assets enables collaboration across the whole business. Operational troubleshooting occurs more quickly as the organization acts on issues to reduce wasteful operation. This paper presents a real time software infrastructure with tools that give users the ability to sift through available data, transform data into information for business continuous improvement and optimization. We will introduce a new technology for analyzing real time data, information and events using multidimensional analysis of information to detect anomalies based on the statistics of the data classified by time events to reduce the information into action. A new paradigm for collaboration at a local and strategic level is proposed to enable the enterprise to become proactive in dealing with wasted time and products. Three examples from the industry will presented and their benefits highlighted.

Jan 1, 2011

By N. Melnyk

IN the past, the Cadomin Coal Company has opened four mines, all in the same coal seam or its folds. Three of these were opened from river level by horizontal entries or rock tunnels, and the fourth, the present working mine, by vertical shafts. This paper deals largely with some operating phases of this fourth mine, with which the writer has been associated. The seam worked here is a thick, steep, bituminous seam, and the writer feels there is a paucity of published data on the mining of such seams. Possible reasons for this are that such seams do not !end themselves to intensive development or mining, there is little chance to mechanize because of the extreme pitch, and operations are fraught with many problems. In addition, the present operations in this particular seam are being carried on at a level below the former workings, introducing new problems, not en-countered on the upper level. Coal will, without question, long continue to be an important factor in the national economy, and some of the best coal is to be found in thick, steep seams. But with the exhaustion of the easily-mined coal near the outcrops, future coal will have to come more and more from lower levels. At Cadomin there is still considerable coal on the second level, below the old river-workings, and there is a possibility that, in the future, still lower levels will be worked. It is the purpose of this paper to indicate some phases of such lower-level operations and to invite discussion.

Jan 1, 1942

By Craig Roberts

"While various methods are available to estimate a mining project's value, value is only established through a transaction. Comparable methods allow the value estimated for a mining project to be benchmarked against mining project values established in the market. Comparable methods thus are a key tool for ensuring value estimates are congruent with what the market would actually pay. For example, if the value estimated for a mining project using discounted cash flow analysis differs significantly from the value implied using comparable market methods, the valuator may be using metal price or discount rate assumptions that differ significantly from those the market is currently willing to pay for.The paper provides an overview of market comparable valuation approaches, and discusses some of the difficulties and limitations that arise in using these approaches. The types of market values that are typically utilised are discussed, including asset sale prices, share prices (market capitalisations), and values established in corporate mergers and acquisitions. Topics discussed include methods used in estimating a mining project's value based on the market value of the company that holds the asset, and limitations that arise because of unique features of mining projects and of companies that hold them.It is concluded that market comparable and fundamental (e.g. NPV) approaches to project valuation should not be viewed as alternative approaches to estimating project value, but rather can and should be integrated to derive a single value estimate based on both market andfandamental data. A method for integrating these approaches is discussed, and illustrated by example."

Jan 1, 2003