Search Documents

By William E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential.INTRODUCTIONThe purpose of this paper is to describe a cost approach to the valuation of mineral exploration properties and to provide some valuation examples. The particular cost approach described is the Appraised Value Method, which is best applied to mineral properties at the exploration stage.At present there are no comprehensive regulations or guidelines in Canada which specify what approaches and methods to use for the valuation of mineral properties. In this paper, the Appraised Value Method described is one method that the writer considers to be accepted industry practice for mineral properties at the exploration stage.Mineral properties are valued for a number of reasons, including mergers and acquisitions, non arm's length transactions, pricing of initial public offering of stock, support for property agreements, litigation, expropriation, and insurance claims."

Jan 1, 2003

By Sang-Su Lee

This paper shows the application of the porous plug system in the Mitsubishi continuous copper smelting and converting process. This system has already been adopted and utilized in the steel industry to enhance productivity. Recently, some copper smelters have adopted this system but the results have not been satisfactory. The porous plug system was installed at the anode furnace in December 2001 to reduce the oxidation time and decrease the oil consumption. A good effect was that the nitrogen stirring of the melt through porous plugs improved the melt heat transfer. As the result of the enhancing heat transfer the oil consumption and the build-up inside the furnace were actually decreased. But until now the oxidation time has not been sufficiently reduced. In the future, further research and tests are needed in order to increase the productivity and save costs.

Jan 1, 2003

By W. E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential."

Jan 1, 2002

By Nancy C. Mohn

?Even though the age of many existing coal units exceeds 30 years, these units continue to perform with excellent reliability and at a competitive cost with other fossil fuel units. ?NERC data shows a consistent increase in availability for all utility coal generation ?With the opening of power markets, the challenge for coal is to produce competitive electricity while meeting increasingly stringent, and costly environmental limits. ?During the 60s and 70s, subcritical steam power plants dominated the market. The emphasis was on scale-up to larger MW size units. ?In the last decade, we have seen interest in a broader set of technologies with new drivers: ?Fluidized bed technology was developed to respond to increased environmental requirements, particularly with lower quality fuels ?Supercritical pressure units have gained interest for both fuel cost savings and reduced emissions due to higher efficiency.

May 1, 2001

By Patricio Jones

Veladero es un depósito epitermal de metales preciosos de alta sulfuración hospedado en brechas y rocas de litologías brechadas y está situado en San Juan, Argentina. Regionalmente, se localiza en el cinturón volcánico terciario del Valle del Cura (Argentina), que es adyacente al cinturón de El Indio (Chile). En ese sentido, el presente texto describe los factores que descubrieron el depósito, menciona las principales referencias respecto de su geología local y regional y enfatiza los aspectos institucionales y técnicos del descubrimiento, realizado por Minera Argentina Gold S.A. (MAGSA).

Apr 24, 2001

By Osamu Iida

Since 'start-up of the larger Mitsubishi Continuous Copper Smelting Process in 1991, furnace relining campaign was gradually prolonged to once every 2 years according to deregulation of governmental boiler inspection. On the other hand, in 1998 Naoshima smelter embarked on an intermediate strategic expansion plan to strengthell its international competitiveness. As part of this plan, modifications were implemented in the copper smelter designed to increase output of anodes from new charge source to 270,000 tpa. In May 1998, treatment of dried neutralized residue was started in C furnace, and during the shutdown for brick relining in April 1999, intensive modifications to the boilers as well as the installation of new spray coolers for furnace off gas treatment were implemented. Finally, the new larger oxygen plant was commenced its operation in May 2000 and the expansion was achieved around 30% increase of anode production from original design.

Jan 1, 2001

By Michael J. Miller

The demand and supply of wollastonite has gone through a dynamic period in the 1990's. A 10% -15% growth rate of demand stimulated interest in evaluating new projects. However, the mid-1990's brought declining prices for commodity applications and natural barriers to entry for technical applications, making many of these potential projects uneconomic. Successful projects that were brought to market were done so by incumbent producers. This work examines the competitive structure of the wollastonite market by evaluating the strategic decisions of the industry leader, NYCO Minerals Inc., and a new market entrant, Orleans Resources, in an attempt to identify the environmental threats and opportunities of this industry. Results suggest new entrants like Orleans Resources face significant entry barriers for technical applications, while NYCO Minerals could improve its profitability by having less exposure to commodity applications.

Jan 1, 1999

By Reinhard F. Dobner

After a short introduction about the HK's secondary smelter process and explanations concerning the anodes produced the regulation and buffering of bleed will be described and the principles of technology for processing of bleed will be presented. Modernization aspects, especially installation equipment, and the different types of evaporators used will be described in detail. Besides, experience made with acid-resistant materials - stainless steel, enamel, plastics - will be reported. Environmental aspects such as water and air pollution will be outlined briefly and in conclusion the quality of products obtained as well as quality control will be presented.

Jan 1, 1997

By D. R. Gehring

Effective project management is an excellent technique for meeting a goal through set, well-defined objectives. Even though project management is successfully used throughout the world in various construction projects, underground mining has unique characteristics that require approaches that vary from classical project management theory. Typically, a project includes four main stages: definition, planning, implementation and control. Definition and planning are often the most overlooked stages, but are arguably the most important. This paper addresses practical techniques for the definition and planning of projects for underground construction.

Jan 1, 1996

The U.S. economy and, consequently, the demand for minerals grew at more moderate rates in 1995 compared with stronger performances the previous year. Demand for metals such as steel and copper was relatively stable. For example, the decline in steel consumed in motor vehicle manufacturing (reflecting lower vehicle sales) for the first half of 1995 was offset by an increase in steel consumed in construction during the same period. More detailed information on events, trends, and issues in the mineral and material sector Is presented below and in the commodity sections that follow. Overall Performance The value of processed materials of mineral origin produced in the United States during 1995 was estimated to be $395 billion, an increase of almost 10% compared with 1994. The estimated value of U.S. raw nonfuel minerals production in 1995 was $38 billion, about 7% more than in 1994. The value of U.S. minerals production has increased in 30 of the last 35 years.

Jan 1, 1996

By E. R. Mueller

The natural lives of machines and components vary tremendously! Maintenance managers struggle constantly to maximize their equipment lives while minimizing their maintenance costs, but they normally lack the tools and techniques they need to do this properly. This paper proposes a methodology based on probabilities of failure and expected values for repairs that recognizes the variation among individual machines and components as well as the high costs associated with catastrophic failures. It enables a user to determine the optimum change-out intervals for many types of equipment. The approach proposed here is sophisticated enough to be reliable but simple enough to be applied by the maintenance staff on the shop floor. It will complement existing preventive and predictive maintenance programs.

Jan 1, 1995

By Billy W. Osborne

The use or primary dross as a source for aluminum ion in the manufacture of aluminum sulfate offers opportunities for an inexpensive raw material. The aluminum sulfate industry in the US is a mature market with numerous small plants operating close to major users. The majority of manufacturers use either bauxite or aluminum oxide trihydrate as a source for the alum¬inum ion.. However, using process technology developed and patented by IWC, the oxides are removed from primary dross for use in manufacturing aluminum sulfate prior to metal recovery. This process offers the benefit of reducing costs for metal recovery. This paper discusses some of the methodology used in this process.

Jan 1, 1995

A stronger U.S. economy stimulated the domestic mineral sector in 1994. Metals demand was spurred by robust U.S. motor vehicle sales, while demand for major industrial minerals rose in response to highway and building construction. Domestic mineral and material demand is expected to increase in 1995, particularly if interest rates do not restrain the building industry and international monetary exchange rates remain advantageous to U.S. automobile manufacturers. Additional information on events, trends, and issues in the mineral and material sector is presented below and in the commodity sections that follow. Overall Performance Processed materials of mineral origin produced in the United States during 1994 increased to an estimated value of $360 billion. Domestic output of raw nonfuel minerals in 1994 was estimated at $34 billion, about 6% more than that of 1993. The value of U.S. minerals production has increased in 29 of the last 34 years.

Jan 1, 1995

By Tench C. Page

The Yarnell gold deposit is located 1.5 km (1 mile) south of Yarnell in the Weaver mining district of Yavapai County, AZ (Fig. 1). Elevations within the area of the deposit range from 1400 to 1560 m (4590 to 5120 ft). Historic production, principally from quartz veins localized along the Yarnell fault, was about 200 kt (220,000 st) at an average grade of 6.9 to 10.3 g/t (0.2 to 0.3 oz/st) gold. The federal government closed the mine in 1942 due to World War II. Norgold Resources Inc. leased the property in 1988 and joint ventured it with Asarco the same year. Asarco drilled 7822 m (25,660 ft) in 96 reverse circulation and four diamond drill holes and identified 8 t (260,000 oz) gold reserve. IBema Gold Inc. acquired Norgold in 1991 and is currently permitting the project. Production is expected to begin within the next two years

Jan 1, 1994

The 53 countries that constituted Africa in 1992 accounted for a significant portion of total world output of a number of mineral commodities. However, the continent's total output for a number of major mineral commodities declined relative to the volume produced during 1991. (See tables 1 and 2.) The most conspicuous declines in mineral production from 1991 to 1992 were for cobalt and copper (declines of 28.6 % and 23.4 %, respectively), which could be partially attributed to mining and metal processing difficulties caused by political and economic disruptions in Zaire and for uranium (12 % drop), for which much of the continental production decline was ascribed to Namibian cutbacks in response to lower world prices. The severe regional drought also adversely affected the mineral industry in a number of sub-Saharan nations.

Jan 1, 1994

The research described in this report was conducted under a cooperative research agreement between the U.S Bureau of Mines Twin Cities Research Center (TCRC), Cleveland-Cliffs Inc. (CCI), and three operations in Northern Michigan managed by CCI: the Empire and Tilden surface taconite mining operations, and the Central Shops maintenance facility. All of these operations are in or near Ishpeming, MI. The Human Factors Research Group at TCRC is responsible for designing, planning, and conducting the research, and reporting on the findings. This project was carried out in order to investigate the high prevalence of back injuries being experienced by workers employed at the three CCI Northern Michigan sites, In an analysis of Company accident records for workers employed at these sites, it was determined that back injury problems confronting the CCI sites mirror those confronting the entire mining industry.

Jan 1, 1994

The domestic mineral and material industry grew in some key sectors and declined in others during 1993; overall, the industry was poised at yearend for stronger growth in 1994. Metals production is expected to increase with anticipated growth in U.S. motor vehicle sales. There also may be increased demand for industrial minerals in 1994 based on domestic highway and building construction. Additional information on events, trends, and issues in the mineral and material industry is presented below and in the commodity sections that follow. Overall Industry Performance The value of processed materials produced from minerals in the United States during 1993 is estimated to have been about $326 billion, an increase of 5% compared with that of 1992. The estimated value of U.S. raw nonfuel minerals production in 1993 was $31.6 billion, about 1 % less than in the preceding year. The value of domestic minerals production has risen in 28 of the last 33 years.

Jan 1, 1994

By Gillies A. D S

Rail, port and shipping charges represent 30 to 50 per cent of landed costs for Australian coal mines selling to Asia. This proportion is higher for sales to Europe, yet it is in Europe where Australian producers are aiming for increased market share. The landed cost of coal to the international customer is the key parameter which determines market competitiveness. The objective of this study is to examine Australian export coal competitiveness in terms of transport distance. The approach used examines world coking coal and steaming coal production and the transport distances between major exporting regions and importing countries. Reference is made to the importance of land transport costs and a comparative approach for emphasising the relative magnitude of this factor is developed. Models developed are examined in terms of Australia's exports and a conclusion is reached that a reduction in rail freight costs would be an effective measure for improving the competitiveness of Australia's coal industry.

Jan 1, 1994

By Darrell E. Young

This presentation will define what talc is, how it is mined and processed, and how talc is used in the paper industry. It will also give you some idea about who Luzenac America is and from where it came. Luzenac America was formed in July, 1992 as a result of the acquisition of the talc assets of Cyprus Minerals by RTZ of the United Kingdom. Cyprus Industrial Minerals was then merged with the other RTZ talc interests under the Luzenac name. Luzenac is a town in the Pyrenees of Southern France -and the home of Talc de Luzenac, RTZ's first talc acquisition. The Luzenac Group is the largest talc producer in the world.

Jan 1, 1993

By M. R. Smith

Barrick Goldstrike Inc.'s Betze/Post Open Pit is located at the north end of the Carlin Trend, in Eureka County, Nevada, U.S.A. (see location Map, Figure 1). About ten open pit gold mines exist on the trend, which strikes northwesterly, through the north end of Eureka County and into Elko County. The final Betze/Post Pit configuration is shown in Figure 2, Pit Configuration. The final pit will be about 2450m long by 1550m wide, elongate in a west-northwesterly direction. The pit straddles the Barrick/Newmont property boundary. The highest elevation of the pit perimeter is 1800m at the south wall, with the east end pit bottom elevation at 1200m.

Jan 1, 1993