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By R. D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market. IntroductionMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. This paper will concentrate on market-based approaches to valuation of such properties. Other authors at MM2000 presented papers on cost and income approaches. Sorentino (2000) also provides a useful overview with some provacative commentary on methods.Market based-approaches are based on the principle of substitution and include such techniques as: comparable transaction analysis (sometimes referred to as sales comparison analysis); farm-in commitment (or option agreement) analysis; rules-of-thumb; and comparable market value analysis.Are there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2002

By Patrick F. R. Murphy

An ultra-low profile LHD has been developed by EJC Mining Equipment of Burlington, Ontario for narrow-reef mining applications. This paper discusses the challenges encountered during the evolution of the machine's design and subsequent field testing. Continuing research and development focuses on optimizing machine performance and controllability, reducing emissions, and enhancing maintainability. Details will be given on field trial experience and ongoing test work being carried out at the manufacturing facility.

May 1, 2004

By G. M. Martinez

The Bureau of Mines has investigated methods for the recovery of byproduct heavy minerals from sand and gravel operations in Oregon and Washington. These heavy minerals are not currently recovered except for gold in a few areas. The recovery of byproduct heavy minerals would provide a domestic source of minerals presently imported, and a more efficient use of domestic resources would be accomplished. Samples from more than 40 locations were treated by gravity separation to yield heavy mineral concentrates (black sands). Magnetite, ilmenite, zircon, rutile, chromite, platinum-group minerals, radioactive minerals and gold were identified in the concentrates. Individual zircon, ilmenite, chromite; magnetite, and gold products were recovered from selected concentrates by low-and high-intensity magnetic, high-tension, and heavy-medium separation techniques. The recovery for the individual mineral products ranged from 67 to 95 pct.

Jan 1, 1981

By Marlyn King, Kevin Peterson

Power Decks are voids created in the bottom of the borehole through the use of a suspended Super Plug. Explosive energy is started downward at initiation creating high pressures which find relief at the comers of the borehole cylinder in the bottom of the hole. This relief creates a horizontal break to the neighboring boreholes - the same effect as presplitting. This “presplit” represents a change of mass to.the explosive energy,and it is reflected upward in the more efficient form of tensile waves. This provides better use of the explosive energy than compression waves. This technique has created a new way of looking at the ways that explosive energy is transported through the rock mass.

Jan 1, 2002

By K. Bruce Hodgins

The North American mining industry faces challenging emissions regulations in coming years with the introduction of new standards for off-road diesel engines. In order to remain competitive, industry stakeholders must invest in new technologies that are economically and environmentally sustainable. Westport Innovations Inc., of Vancouver B.C. has developed high pressure direct injection (HPDI) technology that allows diesel engines to run primarily on natural gas with no intrusive engine modifications, reduced emissions of NOx, PM, and CO2, with no loss in performance. This is accomplished through late-cycle high-pressure injection of natural gas directly into a diesel engine combustion chamber. The natural gas is injected at the end of the compression stroke. A small amount of diesel fuel is injected first to initiate combustion, followed by the main natural gas fuel injection. The diesel cycle and its operating characteristics are fully retained including high combustion efficiency, low speed torque, high-power output, no engine knock and fast response to load changes. Natural gas has not been an attractive fuel alternative in mining operations due to reduced performance associated with spark ignition engines and the added weight and space required for compressed natural gas tanks. However, liquefied natural gas (LNG) can be stored in a similar manner and volume to diesel fuel by virtue of its increased energy density over compressed natural gas. Cummins, Inc. of Columbus, Indiana and Westport have formed a joint venture, Cummins Westport Inc. (CWI), under which agreement the HPDI technology is being applied to a Cummins QSK engine series for high horsepower applications such as mine haul trucking. CWI, along with Komatsu Mining Systems, ENRG Fuels, Placer Dome, and Cortez Joint Venture are performing a feasibility study for the development and demonstration of an LNGfueled HPDI QSK engine in a large mine haul truck. The goal would be to demonstrate low emissions consistent with EPA ?Blue Sky? standards, high efficiency based on HPDI technology and good economics resulting from the high fuel consumption of 2,000+ hp trucks.

May 1, 2002

Disclaimer ?You may hear something today that surprises you. If you are pregnant or have a heart condition, you may elect to stop hearing now. ?Some of what you are about to hear you may already know. ?Much of what you are about to hear and see is information that is from and can be found via other sources. ?If any of my statements during the course of this presentation are thought or found to be incorrect, I am not responsible for these comments.

Jan 1, 2006

By D. R. Dolinar

The fall of small pieces of rock between roof bolts causes over 80 pct of the ground fall injuries in underground coal mines. Roof screen, if installed on the bolting cycle, can significantly reduce the number of these injuries. As the surface of the roof fails, the screen will have to retain the broken rock without failing or excessive deformation. Welded wire screen is the most common type of screen material used for roof surface control in underground coal mines. The load-deformation characteristics and the load capacity of welded wire screen were evaluated in the laboratory in a specially built test frame. In the frame, the square screen sections were held in place by bolts and bearing plates at the four corners while a center load was applied to the screen. The parameters evaluated included the wire gauge and configuration, the bearing plate loads and bolt spacing. The wire gauge of the tested screen was 4, 6, 8, 9 and 10. Maximum screen capacities for both load and displacement were developed for each of the wire gauge sizes along with the screen stiffness. This information can be used for screen selection and for the evaluation and determination of screen performance. DISCLAIMER: The findings and conclusions in this report have not been formally disseminated by the National Institute for Occupational Safety and Health and should not be construed to represent any agency determination or policy.

Jan 1, 2009

To be able to continuously monitor the noise to which underground workers are exposed as a better way to help prevent hearing damage. The Approach: The Bureau of Mines has developed a Time-Resolved Audio Dosimeter which can be worn by miners to record noise level every 30 seconds and store It in a miniature solid state memory. Figure 1 is a photo of the dosimeter. [ ] How It Works: Acoustical noise is picked up by a micro-phone and fed to a sound level meter which produces a d-c voltage proportional to the A-weighted sound pressure level. (As specified by federal regulations, the A-weighted sound pres-sure level approximates the response of the ear by discounting the higher and lower frequency components of the noise.) This d-c voltage controls an oscillator which, together with related circuitry, produces a pulse train having a frequency that's proportional to the noise level.

Jan 1, 1975

Future metal prices play a direct role in both the economic evaluation and short to medium planning of a mine scheduling sequence. It is difficult to predict with accuracy the future price of volatile metal commodities, however, it is possible to fix some future metal price, outside of long term contracts by the selling of futures contracts through a commodities exchange. The futures contract represents a fixed amount of a specified quality of a commodity for future delivery at a predetermined price. Several different types of hedging are possible, one in particular which is best suited for mining companies. There are relative advantages and disadvantages when trading in futures contracts and particular reference is made to gold contracts on the Sydney Futures Exchange.

Jan 1, 1980

By Gandhi

Piled raft foundation under uniformly distributed vertical loads has been analyzed using Finite Element Method. The soil is considered to be linear elastic, isotropic, homogeneous. The raft,pile and the soil have been idealized with eight noded brick elements. Parametric study have been carried out varying pile length, soil modulus, raft thickness, and pile spacing. Design charts have been produced to achieve 50% load sharing between pile and raft for optimum design. Data available in literature is compared with the design chart results and found satisfactory.

Jan 1, 1996

The fundamental objective of mine plans are usually to maximize the mine profit by extracting ore at the lowest possible cost over the mine life while some technical constraints are satisfied. Since the costs associated with the operation of trucks and shovels as resources are significant, determining the optimum number and allocation of these resources is an essential issue. This paper presents a Mixed Integer Linear Programming (MILP) model to determine the optimum number of shovels and trucks required to meet the short-term plan?s goals. Also, the model takes into account the allocation of trucks and shovels to mining faces. This model minimizes operational costs, while attempting to meet the production demand and to satisfy technological constraints. This paper also analyzes the operations of trucks and shovels in an open pit mine using ARENA simulation software.

Jan 1, 2012

By P. Bermingham

A new approach to load testing of high capacity piles is presented. The method is mobile, inexpensive, repeatable and non-destructive allowing for multiple pile testing at a single site. A reaction mass is placed over a pressure chamber situated atop the pile to be tested. The test method is significant in that it can produce linearly increasing forces of high magnitude (over 5.0 MN) with durations of up to 80 milliseconds. This represents pulse durations an order of magnitude longer than achieved using a drop hammer. The accelerations the pile undergoes are less than one g, (conventional dynamic methods = 50 to 100 g). These effects combine to produce pile behaviour no longer dominated by the action of stress wave, instead the pile is under high levels of stress through its length during the force input. This is representative of the situation when static loads are applied, thus the method may be considered quasi-static. Further advances introduced with this method are that pile deflection and transmitted force are measured directly by means of a laser beam and load cell. This allows accurate correlation of event load displacement histories without the error associated with zero shift (acceleration integration) or non-homogeneous materials (strain measurement). The load displacement histories emulate those obtained for static load testing.

Jan 1, 1989

By E. C. Westman

Three-dimensional velocity tomograms were generated on a daily basis to image mining-induced changes to the overburden above a longwall mine. The hypothesis was that a coherent redistribution of seismic velocity, due to the development of high-stress zones, could be imaged at the mine scale. Seam depth was 360 m and source location depth varied from 100 to 1000 m. Sixteen geophones were distributed over a 600 by 600 m square area on the surface above the mine. More than 12,500 events were recorded over an 18 day period. The recorded seismicity provided input for the local-earthquake tomography code, SIMULPS. Eighteen tomograms were generated and high-velocity regions correlated well with high abutment stresses. Additionally, the high-velocity regions were observed to redistribute as the longwall face retreated. These results indicate that velocity tomography can be used to provide a better understanding of temporal changes within a rock mass, and can potentially be used to produce a better understanding of the mechanisms that lead to unanticipated ground failures.

Jan 1, 2008

By J. C. Carrasco, M. Sánchez, R. Jara, F. Marquez, F. Parada, R. Parra, J. Palacios

In past years, Chile has been the largest copper producer in the world and for 2002 mining represented country average of 10 % of the GDP, accounting for 47 % of the total exportation. As copper sulphides are the main mining resources in the country, the metal is produced using the classical processes of flotation and pyrometallurgical extraction. Seven copper smelter plants, which extends from the northern Atacama desert to the central part of the country produced1,522,000 metric tons of fine copper in 2002, approximately one half of total copper concentrate production, with a notorious environmental impact due to the great amount of slag produced during these extraction steps. In this work, a global characterization of copper pyrometallurgical slags produced and disposed of in Chile and worldwide is done, and the concept of total project development is considered to explain the scopes of the study, recovering different compounds and generating new activities around mining. The presentation is completed with the proposal of various methods and techniques being developed today in a joint project between smelter plants and the University of Concepción, with the support of the Chilean government and mining companies, addressed to generate new materials from copper slag. Recovery of copper, molybdenum, precious metals, silica and iron, that is the most abundant component of the slag, are the goals for this research. Metals, commercial compounds, alloys and different forms of iron oxides for steel industry are proposed products.

Jan 1, 2004

By H. Lowers, B. Van Gosen

The Iron Hill (Powderhorn) carbonatite complex is a 31 km2 alkalic intrusion located about 35 km south-southwest of Gunnison, Colorado. The intrusion has been well studied and described because of its classic petrology and architecture of a carbonatite-alkalic complex. The complex is also noteworthy because it contains enrichments of titanium, rare earth elements, thorium, niobium (columbium), vanadium, and deposits of vermiculite and nepheline syenite. In particular, the complex is thought to host the largest titanium and niobium resources in the United States, although neither has been developed. It may be economic to extract multiple resources from this complex with a well coordinated mine and mill plan.

Jan 1, 2007

By Sergio Neves Monteiro

This work had as its objective the characterization of a waste material, steel slag, generated from an integrated steel plant, with a view to its recycling and incorporation into red ceramics fabrication. The characterization was performed in terms of chemical composition by X-ray fluorescence (XRF), particles size distribution, X-ray diffraction (XRD), thermal analysis (DTA/TG) and scanning electron microscopy (SEM). The results indicate that the steel slag presents high amount of Ca, Fe, Mg and Si. The weight loss of the steel slag at temperatures above 800oC is associated with calcium carbonate decomposition. The coarse particle size of the steel slag is inadequate for its direct recycling into red ceramic fabrication. It is necessary to screen or to grind the waste. As a possible solution, it is suggested that screening or grinding the steel slag to a convenient particle size distribution would allow its successful industrial incorporation into red ceramics products.

Jan 1, 2006

ADDRESS BY THE PRESIDENT OF THE INSTITUTE (MR. J. G. SYMONS) IN PRESENTING THE MEDAL TO LAURENCE CHARLES BRODlE-HALL, C.M.G.The Institute Medal is awarded to a select band of people who have rendered great service to the mining industry and the community. Tonight it is my privilege to present the 1976 Institute Medal to one of our members, Mr L. C. Brodie-Hall, C.M.G.Laurence Charles Brodie-Hall, as chief executive in Western Australia for Western Mining Corporation Limited (WMC) from 1958 to his retirement in 1975, had a profound influence on the company's growth and development which had a significant influence on the prosperity of the State of Western Australia and, in turn, Australia.Following the company's decision in 1952 to diversify from gold mining, he took a leading part in the exploration and development of the bauxite deposits in the Darling Ranges by a subsidiary company, Western Aluminium N.L., and the subsequent formation of Alcoa of Australia Limited, the development of the first long term export contract for iron ore from Western Australia, the development of the nickel deposits at Kambalda and the subsequent establishment of a nickel refinery and nickel smelter in Western Australia.

Jan 1, 1977

By A. M. Milev

A stand-alone instrument especially designed for recording strong ground motions was used in this study to create a large data base of peak particle velocities measured on stope hangingwalls. A total number of 58 sites located in stopes mining the Carbon Leader Reef, Ventersdorp Contact Reef, Vaal Reef and Basal Reef were monitored. The peak particle velocities were measured at the surface of the excavations to identify the effect of the free surface and the fractures surrounding the underground mining. From the monitoring results obtained, the velocity criterion of 3 m/s will bean adequate value that support systems have to sustain during a rockburst in most cases. However, PPVs in excess of this criterion were recorded, and some PVDs were damaged or irretrieveable, a consequence of which was that possible extreme events were not recorded. The data recorded on the skin of the excavations were compared to the data recorded by the mine seismic networks to determine the site response, defined as the ratio of the measured peak ground velocity to the peak ground velocity inferred from the mine seismic data. The site response measured at all mines studied was found to be 9 ±3 times on average. Values of the site response did not vary significantly with seismological parameters such as peak ground velocity, hypocentral distance and source radius.

Jan 1, 2005

By J. M. Ortiz

Mineral resource evaluation requires defining geological domains that differentiate the types of mineralogy, alteration and lithology. Usual practice is to consider the domain boundaries as hard, i.e. data from across the boundaries are disregarded when estimating the grades within a given domain. This practice may hinder the quality of the estimates when a significant spatial correlation of the grades exists across the domain boundaries. In this paper, several geostatistical methodologies to handle soft geological boundaries are compared through a case study on a copper mine in Chile. The estimation methods considered are: ordinary kriging using hard boundaries between geological domains; ordinary kriging omitting the geological boundaries; traditional and standardized ordinary cokriging of the grades assayed in different domains; ordinary kriging within dilated geological domains, that is, incorporating samples from adjacent domains up to a given radius from the boundary of the domain being considered. The estimations are performed using a set of exploration data (drill hole samples) and are validated using a set of production data (blast hole samples collected for grade control). Results indicate that kriging with dilated domains performs better than ordinary kriging using hard boundaries or no boundaries and better than the ordinary cokriging approaches. It therefore appears as a simple alternative to global kriging (without considering the geological domains) and allows accounting for changes in the grade average, dispersion and spatial continuity with the geological characteristics of the deposit, via the use of grade variograms proper to each geological domain. The maximal distance for searching samples from adjacent domains should be chosen according to the spatial correlation of the grades across the domain boundaries, or via a cross-validation at an early stage of the mine or a jack-knife if production data are available. Keywords: Kriging; cokriging; soft boundaries; hard boundaries; geological control; geological domains.

Jan 1, 2006

By Tim Q. Haldane

The ability to efficiently process lowgrade ores has allowed the Gold Fields Mesquite Mine in Imperial County, CA to expand from a 2.1 Mt/a (2.3 million stpy) rate in 1986 to its present 7.3 Mt/ a (8 million stpy) processing rate. Increased tonnage demands led to the 1989 construction and startup of a dump leach pad to supplement the existing heap leach operation. This resulted in an excellent opportunity to compare the two processes at the same operation. Additional operating costs associated with the crushed ore heaps are justified through enhanced recoveries, even at very low ore grades. Gold Fields' Mesquite Mine is a gold heap leach facility located about 55 km (35 miles) east of Brawley in southeastern California. Five open-pit mines will be developed over the projected life of the property, covering a total area extending to a maximum of 5.5 km (3.4 miles) to the east and west, and 2.4 kin (1.5 miles) to the north and south. Mesquite will process 7.3 Mt (8 million st) of ore and produce more than 6.2 t (200 000 oz) of gold in 1990.

Jan 1, 1990