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By M. J. Brodie

"The decision to proceed with mine decommissioning, generally involves a number of complex and independent factors. These factors, including potential for re-opening, legal requirements, contingent liability, asset depreciation, due diligence, and public relations are discussed in the context of the financial implications on a net-present- value basis. It is concluded that the decision to delay mine decommissioning is commonly not in the best financial interests of the mine operator. Some measures to reduce decommissioning costs and expedite the process are presented.IntroductionThe primary audience for this paper is mining executives, although it should be of interest to all professionals involved in the planning and carrying out of mine decommissioning. Historically, mines were abandoned, not decommissioned. Then, as decommissioning became required, it was assumed that salvage revenue would pay for decommissioning. During the I980s, it became apparent that mine decommissioning costs would exceed salvage revenue for nearly all sites, and that a substantial net cost for decommissioning would be realized for some sites. Throughout this period, the approach to decommissioning has evolved through the sequential addition of measures to meet the increasing regulatory burden. This has resulted in a process in which the elements of decommissioning may not be optimized with respect to each other for the most favourable net present value to the corporation. Additional considerations which are not specific to mine decommissioning, such as environmental policy, due diligence and public relations, may now come to bear on the decision-making process.This paper addresses the issue of mine decommissioning as a three-step process. The first step involves identification and evaluation of all of the issues that relate to mine closure, the most importantof which is the potential for re-opening of a mine. Assuming that it is decided that a mine is unlikely to re-open, the second step is to determine when to carry out the decommissioning work. This aspect is examined through a net present value (NPV) approach. Finally, details regarding who does the work and how the various tasks are divided up must be resolved.Every mine is a unique concentration of minerals at some specific location, hence the development, operation and closure of a given mine must be regarded as a special case. Superimposed on the site-specific considerations are the size, history and financial status of the associated corporation."

Jan 1, 1995

By S. J. van Rensburg

Competition for resources, including water and arable land, refocused attention on water and gold tailings management with respect to quantity and quality. MINTEK established and validated an "Advanced Leach Facility" to record kinetic leach information aimed at gold refractory sulphide ores. This facility was developed because of the need for additional leach process information to enable proactive decision making. Instead of focussing on optimised gold recovery only, the impacts of pre-oxidation methodologies were evaluated by considering key parameters, including cyanide speciation, reagent consumption, thiocyanate, arsenic, heavy metals, salt loads, water quality and residue stability. Results from oxidative leaching of a refractory gold ore employing oxygen, ozone, ultra-fine grinding, high shear and pressure oxidation are discussed. The relative cyanide and lime costs and environmental and sustainability effects associated with these technologies are briefly outlined.

Jan 1, 2011

By K. Buxmann

Climate change is a subject of growing concern. Based on the International Energy Agency, about 19% of man made greenhouse gas emissions globally are generated by the transport sector. This paper will focus on the environmental aspects of the light-weighting in transport and the resulting savings of fuel and electricity. Aluminium is an option for lightweight applications in transport, with very high benefits not only in the use stage, but also in the stage of vehicle recycling. Life cycle assessment is used to quantify the relative benefits of light-weighting specific components of cars, commercial road vehicles, buses, ships and trains. A vehicle consists of many components, which are produced by different processes and undergo different types of end-of-life operations. This document does not intend to compare a generic aluminium vehicle with a generic "heavy materials" vehicle. It rather tries to use a pragmatic approach based on specific examples of components where aluminium is used and can be used in the design of new vehicles, also taking into account future developments. The case studies in this paper are based on real cases where aluminium was used. For each component, sensitivity analyses are applied to see the impact of specific parameters such as the end-of-life recycling rate and the use stage driving distance. Significant greenhouse gas savings by the use of aluminium are demonstrated for cars and even higher ones for trucks, buses, trains and ships. In addition, the total potential benefits of light-weighting with aluminium are shown on the global level.

Jan 1, 2007

By S. S. Al-Thyabat, A. M. Ghrair

"Printed circuit board (PCB) is the main part of any electric or electronic device, providing mechanical support and electric connection for the board eclectic components such as capacitors, resistors, diodes etc. PCB consists of non-conductive substrate overlaid with one or more layers of copper sheets. They also contain appreciable amounts of base metals (copper, nickel, tine, and aluminum) and precious metals (gold, silver, and rare earth elements (REE)) which end up in the landfill at the PCB end-of-life.PCB recycling E-waste in general is a profitable business; many valuable raw materials, precious and base metals, can be extracted with high purity. Approximately, one metric tonne of PCBs may contain 80-1500 g of gold and 160–210 kg of copper. The precious metals recovered from PCBs occur at concentrations higher than commercially mined minerals. Also PCB recycling is very important to our environment since many heavy metals (e.g. lead) may be leached from the landfills to the underground reservoirs. In Jordan, however, the work conducted on E-waste and PCB recycling in particular is limited; currently most of the E-waste is either exported or dumped in the landfill.In this work, a combination of physical (magnetic separation), physicochemical (flotation), and chemical methods (leaching) were used to compare metals concentrations in leach liquors produced from a concentrates resulted from a combination of these methods. It was found the leach liquor of the magnetic fraction of the PCB coarse size gave the highest concentration of Fe, Al, and Ni while concentration of Cu was higher in leach liquor of nonmagnetic sink fraction. On the other hand, metals concentration almost similar for both sink and float of the fine size fractions, indicating even distribution of metals concentrations in the fine size fractions."

Jan 1, 2016

By N. Erarslan, M. Ghamgosar

With the increased use of mechanized rock excavation, there have been developed internationally a number of methods to assess the abrasivity of rock materials. These methods range from determination of abrasive and hard mineral content using petrographic thin section analysis to weight loss or rate of wear flat development on specified test pieces. The Cerchar abrasivity index (CAI) test has been widely accepted for the assessment of rock abrasiveness and is determined as the abrasion of a steel pin after scratching over the freshly-broken or saw-cut surface of a rock. Two types of testing devices are in use today: (i) the original ‘Cerchar apparatus’, and (ii) the ‘West apparatus’, which was adopted herein. The CAI is calculated from the measured diameter of the resulting wear flat on the steel pin after 10mm scratching. This test has been considered to provide a reliable indication of rock abrasiveness for isotropic rocks. However, a great amount of rocks in natureis anisotropic. Phyllite is an anisotropic and foliated metamorphic rock and various types of phyllite specimens were tested in this research. Although phyllite is a type of rock primarily composed of quartz and the expected CAI value can be high, mechanical cutting of this rock should not be very problematic compared with igneous rocks have same CAI value. As phyllite is a foliated metamorphic rock, most of the specimens split into sheets through the quartz seam by the tip during scratching normal to the axis of quartz seams. Hence, viability assessment of Cerchar abrasivity test and F-Schimazek index values for the anisotropic rocks is investigated in this research.

Jan 1, 2015

By L. E. Collins

"In western Canada, many new wells contain a significant fraction of H2S. As well, many older wells become increasingly sour over their operating lifetime. For these reasons, there has been increased demand for linepipe and casing for sour service applications in recent years. This paper will review the metallurgical factors which must be considered in designing steels for such applications. IPSCO’s development of linepipe and casing, and experience in fabricating products to meet test standards specified for sour service applications will be summarized. IntroductionWestern Canada produces the majority of Canada’s domestic crude oil and natural gas. A complex system of pipelines has been built to gather the oil and gas from the fields for transport to refining and/or cleaning operations. The gas carried in these pipelines can be either sweet or sour (i.e. containing no H2S or containing H2S) depending on the nature of the field from which it came. Many new fields contain a significant fraction of H2S and many older fields become more sour as their time in production increases. This uncertainty regarding product condition influences the user’s choice of materials for both casing and pipeline applications.It is well known (Merrick, 1989) that hydrogen induced cracking (HIC) will occur in steel when three conditions exist simultaneously: (1) the presence of H2S gas, (2) moisture, and (3) a susceptible material. Steelmakers can only address the latter of these factors. Development of steels to meet test requirements of sour service has been a major focus of IPSCO’s development work for several years."

Jan 1, 1998

By J. Stiksma, R. Kalanchey, M. J. Collins, G. Owusu, R. Raudsepp, K. R. Buban, L. A. Barta, L. Masters

This paper describes the results of testwork for the treatment of Ambatovy laterite by an acid pressure leach process, with recovery of the soluble nickel and cobalt values as mixed sulphide intermediate by precipitation with hydrogen sulphide, and subsequent refining of the mixed sulphide to nickel and cobalt metals. These process development studies were carried out primarily in 2004, as part of a bankable feasibility study for the Ambatovy Nickel Project.

Jan 1, 2004

By Christian M. Bauer

Modern surface mines are among the world's largest single consumers of diesel fuel. A typical mine site can consume in excess of 200 million liters of diesel fuel per year. Delivered diesel fuel is not necessarily clean. Depending on the mode of transportation, handling practices and local climate, incoming bulk fuel can contain up to 20 mg/L suspended solid contaminants and also significant quantities of free water, which can amount to substantial quantities ? for a typical mine site 200 to 400 kg of dirt per year. Standard on-board fuel filters are not designed to handle high levels of contamination, and most engine manufacturers have specific fuel cleanliness requirements to ensure reliable engine operation. New developments in fuel injector technology, such as high pressure, common rail injectors require even cleaner fuel. In order to ensure reliable operation, it is therefore recommended to control particulate contamination throughout the entire Diesel supply chain - from the bulk storage on mine sites to the injection systems on-board through the use of particulate filtration and liquid coalescence technologies. In this work, the author introduces a comprehensive approach to contamination control for the entire fuel supply chain, and discusses the benefits of using advanced filtration and separation technologies, with a particular focus on the requirements of modern high pressure, common rail (HPCR) fuel injection systems.

Nov 1, 2011

By D. Lascelles, J. A. Finch, E. El-Ammouri

Flotation separation is expected to be related to the degree of dispersion of the pulp. For instance, highly aggregated systems may show reduced selectivity, reduced entrainment and increased flotation rate. In an attempt to test the impact of aggregation on flotation, we have taken advantage of the effect of Mg ions. Using combinations of Mg2+ and pH gave a wide variation in aggregation of several Cu-Zn ores (measured by settling rate) and corresponding flotation response was determined by batch tests. The trials were conducted on-site at Louvicourt and Agnico-Eagle. In a majority of cases a similar trend in aggregation and flotation selectivity (grade at given recovery) was observed. At Louvicourt, improved selectivity with increasing aggregation at pH 10.5 was found. At Agnico-Eagle, an analogous association between aggregation and selectivity was observed at pH 11.5. It is suggested that aggregation influences particle entrainment, the increased effective particle size reducing gangue recovery and hence improving selectivity.

Jan 1, 2004

By G. T. Lapidus, R. Zárate-Gutiérrez

Selective leaching of lead from a Pb-Ag-Zn concentrate with hydrogen peroxide in citrate solutions was studied at room temperature. Leaching tests were performed, varying the H2O2 concentration and the solid-liquid ratio, holding the solution pH constant at 7, and the citrate concentration at 1 M. Lead extractions of 100 % were achieved with 4 and 5 times the stoichiometric quantity needed to form elemental sulfur, with only a small amount of metal impurities dissolved (Ag, Zn and Fe). The lead solubility limit at those conditions was found to be ~21 g L-1. X-ray diffraction analyses of the leach residues were free of galena (PbS), while other metal sulfides, such as sphalerite (ZnS), chalcopyrite (CuFeS2) and pyrite (FeS2), were basically unaffected.

Jan 1, 2014

By J. M. Paxton, R. L. Roscoe, G. A. McCreary, W. W. Muir, T. J. Drown, D. A. Barr, T. W. Law

"This paper reviews the complete cycle of a small mining operation in a remote section of northern British Columbia, including discovery, exploration, development and production. The discovery of high-grade epithermal gold-silver mineralization occurred in 1969 following a regional geochemical reconnaissance program designed to search for porphyry copper mineralization in the Cassiar-Omineca Mountains. Exploration and development from 1971 to 1979 included geological, geochemical and geophysical surveys; trenching, almost 30 000 feet of surface and underground drilling in about 100 holes and cross-cutting, drifting and raising on the principal goldsilver- bearing vein. This led to the delineation of 100000 tons at an estimated grade of0.9 oz gold per ton and 18 oz silver per [on to an average depth of 120 feet below surface. of a 100-ton per day mining operation employing about 50 personnel with all supporting infrastructure transported to the site by a Hercules aircraft. The operation was subsequently supported by its own Twin Otter aircraft with periodic Hercules campaigns supplying major items including fuel.The mining operation included both open-pit and cut-and-fill methods. The milling operation employed conventional cyanide leach process with cyanide destruction initially by alkali chlorination and subsequently by the Inco SOl /Air process.The fly-in operation, initially structured on a 21-day-in and 7-day-out basis was modified to al-t-day-in and Z-day-out basis with no loss in efficiency and with a significant increase in employee satisfaction. The operation, which earned the B.C. Small Mines Safety A ward in two consecutive years in its Ll-month operating history, emphasized safety and process hazard awareness. Wildlife studies in the environmentally sensitive mine area also showed that industry and wildlife can coexist in harmony.Most importantly, the paper compares the feasibility assumptions with actual operating experience."

Jan 1, 1986

By V. I. Ryaboy, V. P. Kretov, I. V. Ryaboy, E. D. Shepeta

This paper studies the features of known and newly synthesized dialkyldithiophosphates and reagents with thioamide groups when separating copper-containing and arsenic-containing minerals in the flotation of skarn-scheelite-sulphide ore at the Primorskaya concentration plant. The optimization of dialkyldithiophosphate collectors was based on the study of their surface activity at the liquid-gas interface and estimated hydrophobic abilities. The flotation experiments show that the selectivity of action of the reagent increases with an increase of its surface activity and a reduction of hydrophobic ability when separating chalcopyrite and arsenopyrite. IMA-225-5 was proposed as a more efficient dialkyldithiophosphate collector, which increases the recovery of copper by 2.8% compared to the industrially used collector IMA-I413. Selection of the optimal structure for reagents with thioamide groups (derivatives of thionocarbamate and thiourea) was carried out according to their acidity and the presence of hydrophilic particles in their structure. Calculations were performed depending on the pH of the solution of chalcopyrite to determine the optimum reagent sorption and to further optimize the structures of these reagents. The tests with reagents with thioamide groups show an increase in copper recovery by 3-4% together with a significant increase of arsenic content compared to IMA-225-5. As a stronger collector with thioamide groups, it was recommended to use sample 234, which belongs to the thiourea derivatives. IMA-225-5 was recommended for industrial tests at the Primorskaya concentration plant. Thus, this study has shown that using dialkyldithiophosphate is more appropriate if it is necessary to increase the selectivity of separation of copper-containing and arsenic-containing minerals, and using reagents with thioamide groups, or their combinations with dialkyldithiophosphates, is more appropriate if it is necessary to increase the recovery of copper or the quality of copper concentrate with less selectivity of the process.

Jan 1, 2016

By Y. S. Sun, Northeastern University, W. B. Li, P. Gao, Z. Y. Zhang, J. W. Yu

"The boron-bearing iron concentrate was extracted from ludwigite ore by the process of magnetic-gravity separation. In order to fully utilize the refractory ore and meet the boron consumption of China, a novel process for separation of boron from iron in boron-bearing iron concentrate was proposed in this paper. In particular, laboratory scale experiments of improving boron reactivity were performed. Fine boron-bearing iron concentrate briquettes were reduced by bituminous coal completely at 1125 °C for 150 min. The effect of sodium carbonate, which was used as an additive in the roasting process, was investigated. The addition of sodium carbonate decreased the boron reactivity and facilitated the volatilization of boron. The influence of diverse cooling methods of the reduced samples on the boron reactivity was studied. The results indicated that boron reactivity could reach up to 80.76% when the reduced samples were cooled by rapid water quenching. In addition, the magnetic material containing 92.71 % Fe with a recovery of 95.11 % and boron-rich non-magnetic material containing 14.51% B2O3 with a recovery 88.85% could be obtained by low-intensity magnetic separation. The magnetic material and boron-rich non-magnetic material were good raw materials for steel-making and borax production, respectively.INTRODUCTION Ludwigite ore is abundant in Liaoning province of China, with 28.43 Mt B2O3 accounting for 57% of the boron resources of the country (Liu et al., 2006). However, it has not yet been utilized on an industrial scale due to its complex mineralogy and fine mineral dissemination (Wang, Wang, Ding, Ma & Xue, 2012). At present, boron-bearing iron concentrate and boron concentrate can be obtained from ludwigite ore using magnetic-gravity separation. The boron concentrate contains B2O3 12%~16%, which can be used as a high-quality raw material for the boron chemical industry after activated roasting, but the B2O3 content in the iron concentrate reaches up to 4%~6%. In order to further separate boron and iron from boron-bearing iron concentrate, a blast furnace and a solid pre-reduction followed by electric arc furnace melting have been proposed (Liu, Cui & Zhang, 1998; Wang et al., 2012). However, both of these two current routes face the same crucial problem that molten boron-rich slag has to be cooled slowly to obtain the alkali-dissolution activity of boron, which affects the yield of boron resource."

Jan 1, 2016

By René Dufour

Jusqu?à son acquisition par MM René Dufour et Alain Robin en 1994, les claims miniers et les droits de surface de la propriété étaient détenus depuis 1953 par la société Québec Columbium, une filiale de la socité américaine Kennecott Copper qui y a réalisé d?importants travaux miniers. En 1995 la compagnie NIOCAN inc. fut incorporée; ses actions furent inscrites à la bourse de Montréal en 1997, et à la bourse de Toronto en décembre 1999. Jusqu?à maintenant, NIOCAN a investi plus de 7 millions de dollars dans le développement de sa propriété minière de niobium située à quelques 40 kilomètres au nord-ouest de Montréal. Le haut rendement économique des deux gisements principaux que compte exploiter la compagnie, le S-60 et le HWM-2, a été établie par des études de faisabilité effectuées par le consortium Met-Chem/SNC-Lavalin. La mission que s?est donnée NIOCAN inc. consiste à mettre en production ses deux gisements et à devenir ainsi productrice de ferroniobium dans les plus brefs délais. Figure 2 Le projet est présentement à un stade avancé d?obtention du certificat d?autorisation du ministère de l?Environnement. À plus long terme, la compagnie compte aussi exploiter les sous-produits de ses gisements (apatite, forsterite, magnétite, calcaire et terres rares).

May 1, 2003

By David J. McDougall

"The production of pig iron, wrought iron bars and castings in Quebec during the 18th and 19th centuries has been so closely identified by historians with Les Forges du St. Maurice on the St. Maurice River a few miles north of Trois Rivieres (Three Rivers), that one is sometimes left with the impression that it was the only iron works that ever operated in the province. There were however, about twelve others, one of which was so completely re-built that it should probably be considered as a separate entity. All but two were constructed after the midpoint of the 1800s, coinciding with the growing Canadian demand for ""charcoal pig"" for railway car wheels and castings for industry, and about half of them were technically, if not economically, successful. The misconception about Les Forges du St. Maurice may have come about either because of its long history of somewhat less than continuous production over a century and a half, or a tendency of Quebec historians to concentrate on events in the French-Canadian milieu, but whatever the reason, the other Quebec iron works have been generally ignored. All but one of the Quebec blast furnaces could be described as ""pre-industrial"" with capacities ranging between three and ten tons per day, the exception being the Radnor furnace built in 1892 with a maximum production of about 35 tons per day and an alleged capacity of 50 tons per day. Until a railway network was completed in the 1880s, the location of all the Quebec iron works except the Grantham Iron works was dictated by close proximity to adequate ore reserves because horse transport was of little use beyond a ten-mile radius. The other essentials of forest resources (mainly soft woods) for charcoal, limestone for flux and water power, were generally available except within a few miles on either side of the St. Lawrence River. Among the dozen iron works established in Quebec between 1732 and 1880, seven used bog iron ore in charcoal-fired furnaces. Five of these, including Les Forges du St. Maurice, were located on or near the St. Maurice River which enters the St. Lawrence River from the north, and two, the St. Francis Forges and the Grantham Iron works were on or near the St. Francis River which enters the St. Lawrence from the south. In a general way deposits of bog iron ore in the St. Lawrence lowlands of Quebec were contained within the limits of the post-glacial Champlain Sea, with many clustered along the flanks of the St. Narcisse recessional moraine which is crossed by the St. Maurice and other near-by streams, and the Drummondville recessional moraine which is crossed by the St. Francis River."

Jan 1, 1999

By Sean Hillacre, Arthur Lieu

NexGen’s approach to uranium processing design including the crushing/grinding and leaching of raw ore through to yellowcake precipitation and tailings management focuses on minimizing surface footprint, freshwater consumption, and human radiation exposure. Applying the concept of best available technologies economically achievable (“BATEA”), NexGen continues to research, evaluate, test and validate various advanced technologies that can be incorporated into the Project design, including distinctive tailings storage techniques. Additionally, NexGen is proposing that tailings generated from the mill processes be used as cemented paste backfill of stopes, as well as stored in a purpose-built, Underground Tailings Management Facility (“UGTMF”) comprised of several dedicated chambers. The paste backfill method of tailings storage is used globally, however, constructing purpose-built tailings chambers in waste rock is a new concept in uranium mining, which would typically be cost prohibitive for most projects given the expense to develop non-economic material for the sole purpose of storing tailings. The Rook I Project is uniquely positioned to implement the UGTMF due to robust Project economics and favourable technical setting which provides NexGen with the opportunity to set an elite standard for tailings management. When compared to conventional surface tailings management facilities, storing tailings underground as cemented paste reduces geotechnical, geochemical, environmental, and human health risks associated with tailings management. Additionally, the UGTMF vastly reduces the area of surface disturbance and allows for progressive decommissioning during the life of mine operations.

Jan 1, 2020

By Philippe V. Scheers

Polycrystalline gold, glassy carbon and gold-activated glassy carbon electrodes were compared for the production of hydrogen peroxide by the cathodic reduction of dissolved oxygen. Gold was deposited on glassy carbon by sputtering with a sputter coater and by electrodeposition from a diluted KAuCl4 solution using short potential steps. The sputtered gold particles were not adherent enough, but there were no adhesion problems with the electrodeposited gold particles. The gold coverage of the glassy carbon surface could be varied by applying a different number of potential steps. The overpotential for the electroreduction of oxygen to hydrogen peroxide decreases with increasing gold coverage of the glassy carbon surface, and for gold coverages exceeding about 16 %, the overpotential is close to that observed on polycrystalline gold.

Oct 1, 2003

By E. Dernedde

A few studies have suggested that the rate of adsorption of hydrogen fluoride on smelter grade alumina is determined by kinetic factors. However, no performance equation for dry scrubbers has appeared in the literature so far. Experimental data from a pilot dry scrubber with co-current flow were compared with results of kinetic models of adsorption, film diffusion and pore diffusion. The pore diffusion model was deemed the most appropriate. It was transformed into a performance equation for steady-state operations of dry scrubbers by the inclusion of the alumina recirculation. Operating results of industrial dry scrubbers with co-current flow were successfully evaluated by means of the performance equation. The average fluoride content of the alumina was also estimated by using the pore diffusion model.

Jan 1, 2011

By N. N. Rulyov

"Starting from fundamental principles of colloid-hydrodynamic theory of disperse systems we have shown that application of strongly non-uniform hydrodynamic fields allows to achieve not only faster rates of flocculation of suspension, but also supports significant improvements in the quality of clarified water and separation characteristics of solid phase. Specifically, it has been experimentally proven that the new treatment method based on these principles (then termed as ""ultra-flocculation"") allows:•,Increase the output of thickeners and pressure filters by 1,5-1,7 times;•,Decrease solids fall through into the filtrate in the process of vacuum filtration by 2¬3,5 times;•,Improve the rate of purification of water phase in the upright thickener by 1,5-1,9 times;•,Decrease flocculant consumption by 1,5-3 times;•,Increase the effective operational life time of cloth filters by 3-4 times;•,Ensure sustainable operation of separation equipment, i.e. decrease the sensitivity of process to variation in suspension concentration, as well as to variations of suspension composition and dispersion characteristics;•,Apply flocculant solutions of concentration 2-3 times higher, thus increasing the capacity of equipment used for solutions preparation."

Jan 1, 2004

By Tsuyoshi Adachi

Photovoltaic (PV) system is especially taken notice as one of important renewable energy resources, because PV has potential to provide a certain amount of energy supply as well as without greenhouse gases emission. Considering recent rapid increasing demand for PV system, more expansion of PV system is expected in the future. However, some precious metals and minor metals such as silver, indium and others are used as component materials of solar cell in PV system. Even if energy supply would become renewable, strict limitation of these metals still remain because amount of natural resources and recycling of metals has restrictions intrinsically. The aim of this study is to reveal the possibility of materials supply restrictions for Photovoltaic system quantitatively and to propose several measurements to assess supply risks for materials. Especially, silver supply potential which is used as wire line in PV system as well as PV demand forecast to estimate material use in the future are focused on. We divide underlying supply risk into 5 measurements and analyze them by time series, i.e. price volatility, resource potential, recycling ratio, production type and supply concentration are investigated. Comparing these factors of silver with other metals, the potential of silver supply for PV is presented. In addition to it, we propose another method to quantify country risk applied an insurance pricing model in finance pricing theory and combine it with the supply concentration measurement. As a result, supply risk of silver will increase gradually in the near future because of its resource constraints and supply-demand balances although silver market is sufficiency competitive one. From the country risk analysis, Peru is not only a significant supply country but also has the highest country risk. Some higher risk countries will increase the level of supply risk even if the concentration ratio of supply indicates moderate level.

Aug 1, 2013