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By Graham A. Davis, Michael Samis

The dramatic fluctuation in metal and energy prices in the last few years is causing mining companies to consider alternative analytical methods for mine design and valuation. The goal is to improve insight into unforeseen changes in the economic and project environment and to design projects that take advantage of management's ability to respond to these changes. Such flexibly managed projects will contain value that cannot be measured using traditional engineering economic approaches, further motivating the used of alternative, modern valuation methods. This paper considers the valuation of an uneconomic low-grade resource at an open pit gold mine using two of the most popular modern valuation methods, Dynamic Discounted Cash Flow and Real Options. Our analysis demonstrates that the conventional valuation method may incorrectly represent the value and risk attached to mining this type of resource because it is unable to recognize management's ability to respond to future events in a manner that minimizes losses and exploits advantageous business conditions. The results of this paper highlight the importance of recognizing flexibility and business uncertainty in both mine design and valuation.

Jan 1, 2003

By R. P. Viljoen, A. D. Scheglov, A. L. Sokolov

"Abstract -The distribution of mineralized provinces is analyzed on the basis of their genetic link with specific blocks of the earth's crust including ancient platforms, mobile belts and zones of tectonic­ magmatic activation. Mobile and fold belts surround the Siberian platform in Russia and the Kaapvaal craton in South Africa, with decreasing age zoning away from ancient platform margins. The main differences in the geological development of the two cratonic areas are: (1) the long period before the final stabilization of the Siberian platform (3600 Ma to 1600 Ma) and the comparatively short period of time for the stabilization of the Kaapvaal craton (3600 Ma to 3050 Ma) and (2) the intensive multiple activation of the marginal zones of the Siberian platform and the tectonically­ controlled, magmatic sedimentary, intracratonic activity, typical of the Kaapvaal craton. Mineralization of the Siberian platform is largely characterized by marginal reactivation zones of differing ages although mineralized intracratonic Cu-bearing basins of Proterozoic age are also known. Mineralization of the Kaapvaal craton is mainly related to the formation of the intracratonic basins i.e., Witwatersrand (Au, U) and Transvaal (Au). The latter is characterized by multi-age volcanic-intrusive activity including the emplacement of Bushveld Complex (Cu, Ni, Pt, Cr, Au, V). The Siberian platform is characterized by the prolonged development of inherited mineralization from Archean until the late Mesozoic. The main period of mineralization in the Kaapvaal craton is restricted to the middle Proterozoic.The Baykal-Patomskaya and Namaqua-Natal mobile zones occupy similar positions adjacent to the Siberian and Kaapvaal cratons, respectively, and demonstrate similar modes of metallogenic development: i.e., the early formation of exhalative Pb-Zn-Cu deposits during the early stage and magmatic Cu deposits during the late stage. The more remote mobile belt near the Siberian plat­ form, the Trans-Baykal, is characterized by intensive multi-age mineralization (Wo, Mo, Sn, fluorite), related to a period of tectonic-magmatic activation. The Saldania Belt occupies a similar position near the Kaapvaal craton but is known for its poor Au, and Cu rnineralization. lt does, however, have some similarities with Trans-Baykal Belt in regard to Mo-W bearing granitoids.The phenomenon of interference of geosynclinal, orogenic, platform, and tectono-magmatic activation regimes is known for the Russian section of the Pacific Ocean Volcanic Belt."

Jan 1, 1994

By H. J. White

The effect of alloying elements on the mechanical properties and weldability of wrought gamma prime strengthened nickel- base superalloys is well known. An understanding of the basic guidelines concerning alloying additions has led to the invention and development of HAYNES® 282® alloy for applications in aircraft and land base gas turbines and other high-performance high-temperature environments. The alloy combines exceptional high temperature properties with good weldability and fabricability. At high temperatures (~ 900 °C), the alloy is stronger in creep strength than Waspaloy alloy (UNS N07001) and it approaches the creep strength of R-41 alloy (UNS N07041). Because the alloy has better thermal stability, fabricability, and weldability than Waspaloy and R-41 alloys, it is currently being considered as a candidate universal consumable for welding/ repair welding of gamma prime strengthened nickel based superalloys and it is also being considered as a suitable replacement for applications where R- 41, Waspaloy, and 263 (UNS N07263) alloys are currently being used. The alloy was designed to have improved resistance to strain age cracking, a problem common to gamma prime strengthened nickel based superalloys. In this paper, we present (1) results from hot ductility testing of annealed and annealed/aged material; (2) results from Time Resolved X-ray Diffraction (TRXRD) studies during a welding thermal cycle of annealed and annealed/aged material, and (3) gas metal arc (GMA) and gas tungsten arc (GTA) welding of annealed and annealed/aged material.

Jan 1, 2010

By Sunil S. Gandhi

"The Mountain Lake deposit is a tabular sandstone-type uranium deposit, hosted by the basal unit of Middle Proterozoic Dismal Lakes Group. Uranium occurs mainly as sooty pitchblende disseminated in stratiform lenses within gently dipping quartzose sandstone. It is associated with copper sulphides, pyrite, hematite, and traces of nickel and cobalt arsenides and of silver.Exploration HistoryUranium showings on the PEC claim group were discovered during 1969 by an airborne radiometric survey carried out over the Dismal Lakes-Great Bear Lake area by Aquitaine of Canada Limited (Bizard and Salat, 1969). Some drilling was done in the vicinity of the showings in 1975 by the company under a joint venture with Eldorado Nuclear Limited but the results were not encouraging (Hassard and Woollett, 1975). During 1972, Trigg, Woollett and Associates Limited conducting surveys for Imperial Oil Limited, discovered numerous high-grade radioactive boulders scattered over a distance of several kilometres north and west of the showings, and the area north of the PEC claims was staked as the YUK claims (Ahuja, 1974). A systematic study of the boulder distribution and Pleistocene geology suggested a source additional to the showings. More intensive exploration followed, and in 1976 drilling just north of the PEC claim group boundary intersected the main deposit at a depth of 75 m to 150 m, beneath overburden up to 60 m thick. Part of the deposit extends into the PEC claim group which is under exploration by the Aquitaine-Cominco Joint Venture.The following brief description is based on the presentations in 1978 by F. Hassard of Trigg, Woollett and Associates Limited at the Geoscience Forum in Yellowknife, and by S.S. Gandhi of the Geological Survey of Canada at the Mineralogical Association of Canada Uranium Short Course in Toronto."

Jan 1, 1986

By Guocheng Pan

"Although many factors play roles in the estimation of recoverable reserves, smoothing effect and conditional bias are considered major geostatistical issues in the estimation. This paper introduces measures for smoothing effect and conditional bias, and provides insights into their relation to the estimation of recoverable reserves. Both smoothing effect and conditional bias are intrinsic to the information effect and kriging estimators. For a given level of drilling information, however, it is possible to identify the optimal search radius that minimizes conditional bias. Furthermore, it is also feasible to define variance correction factor for reduction of the smoothing effect from exploration block models. Both of these components are key to the accurate estimation of recoverable reserves. IntroductionThe accurate estimation of recoverable reserves is critical to decision making in different phases of feasibility study and mine planning. Much attention for improving the methodology of estimation has been focussed on the effect of the change-of-support (Parker, 1980; Dagdelen, 1996). For example, it is essential to make a volume- variance correction to the estimate of multiple indicator kriging (Hoerger, 1992). When the size of block, b, in the geostatistical model differs from that of selective mining unit (SMU), v, a volume-variance correction is warranted for the prediction of recoverable reserves.Most mining plans and decisions are made prior to the availability of high density blast-hole samples. In most mining operations, the true SMU grade Zv is unknown at the time of selection. Instead, the selection is based on the estimate Z v**derived from high density blast-hole samples within the deposit G. Nevertheless, the estimate Z v * of recoverable reserves in the stage of mine planning is derived from exploration data. At the end, the production result must be reconciled to the estimate Z v * . In other words, the selection is based on Z v** from blast-hole samples, while the final production figures are reconciled to Z v * from exploration drilling. For a given preselected cutoff grade z0, the actual mining panels will consist of the units having the estimated grade Z v** =z0 rather than the true grade Zv =z0. The difference between Z v** and Zv is usually of less concern."

Jan 1, 1998

By Michael R. McPhie

Topics of Discussion 1. The Global Mining Initiative (GMI) and MMSD North America (Brief) 2. Task 2 of MMSD North America ? A Test for Sustainability 3. The Seven Questions and their Application 4. Key Recommendations and Next Steps GMI = Global Mining Initiative Significant international collaborative effort supported by more than 30 of the world?s largest mining/minerals firms which sought to involve all communities of interest. Three major streams of activities: 1. Mining, Minerals and Sustainable Development Project (MMSD) ? 4 regional Process (North America, Southern Africa, South America, Australia) 2. Creation of ICMM (formerly ICME) 3. Major conference in Toronto in May, 2002

May 1, 2002

"INTRODUCTION Secondary mine ventilation has been hamstrung by the availability of fans that satisfy many competing operational factors. The sometimes legislated requirement of adequate volume to the working face, the minimisation of excavation required to fit the selected secondary fan and the power requirements of various operational phases has, in the past, not been satisfied with just one system. The new system being introduced overcomes all these competing requirements in one simple unit with an added bonus of being very durable without loss of performance when wear occurs on the impeller. Existing Operational Situation Several studies (e.g., CIPEC, 2005; LCG Energy Management Group, 2009) have found that between 42% and 49% of mining energy costs are associated with mine ventilation, depending on the type of mine and the equipment used. If we then look at the general breakdown of installed power of the secondary fan to primary vent fans, the ratio is around 2:1. Thus the total energy costs of the secondary ventilation represents about 25% of the overall mining energy costs. It is of interest to note that the cost of running a typical two stage axial vs the cost of purchasing and general maintenance cost of the same fan over a 10 year period, the breakdown will be conservatively in the order of 40:1.The currently available secondary ventilation axial fan have one duty curve at any given time. Generally this can be changed manually within the motor power parameters but requires a minor outage and removal of the fan to do the pitch adjustments. As the bag vent ducts grow longer, the supplied air reduces to a point where inadequate air is supplied to the working face. This is exacerbated by underground equipment putting additional resistance in the heading and further reducing the supplied air at the working face. This shortfall is normally corrected by the installation of an additional fan in the system to overcome losses in the bag system but comes at a cost of production as the heading needs to be shutdown to install the second fan. This also means that the heading is supplied with excessive air on the shorter runs with a wastage of fan power."

Jan 1, 2019

By R. L. Bruening, N. E. Izatt, S. R. Izatt

The need for selective metal separations has increased as the mining industry encounters more complex ore bodies and demand for higher performance end products expands. The Molecular Recognition Technology (MRT) process uses highly selective SuperLig® resins to remove desired metals from a variety of solutions in the mining and metals processing and recovery industries. MRT separation processes efficiently produce high purity metal products. In this paper, applications of MRT to metal recovery at mg/L to multiple g/L concentration levels are presented and discussed. Specific examples in the precious metal, nickel, cobalt, zinc, copper, and rare earth industries are given.

Jan 1, 2014

By Max W. Ball

YOU have been kind enough to ask me to speak to you on "The War and Anglo-American Relations." A speaker always takes the liberty of putting his own interpretation on the scope of his subject. I am going to exercise that privilege, and try to look back over a generation of Anglo-American relationships and forward beyond the present war. I should like particularly to consider responsibilities as well as relationships. A more accurate caption for what I am going to say would be "Anglo-American Responsibilities.?? THE WAR WILL BE WON I am assuming that sooner or later we shall win this war. History and economics point to the same conclusion, that Germany has attempted the impossible and that the seeds of defeat are already sown. As to one ecof1:omic factor, I am already on public record as believing that Germany's oil supply is inadequate for the war she has launched. That opinion is unchanged. Aside from such tangible factors, moreover, I am convinced that the spirit of freedom is unquenchable, and that no combination of powers will be able to rout it from the British Commonwealth of Nations and the United States. Stronger even than this conviction is my faith in a God who will not suffer the defeat of man's aspiration to be master of his own soul. I am sure that all of you share that faith, and that we need not argue it. We can start with the assumption that the war will end in victory. The subject we are to consider, then, is the relationship of the English-thinking peoples during the conflict, and their joint responsibilities in the difficult days that will follow it. A CANADIAN-AMERICAN No talk on such a subject is worth listening to unless the audience knows the background and fundamental beliefs of the speaker. No human statement stands alone; behind and beside and within it are the ideals and the bias of the man who makes it. Because I am a stranger to most of you, I am constrained to talk about myself before I talk about more important matters. The review may be profitable, not because of the subject, but because it may illustrate the evolution of an attitude toward England.

Jan 1, 1941

By J. C. Loretto, H. A. Simons

The paper discusses how, in the routine testing of ores, insufficient communication between the laboratory and the design personnel can lead to misunderstanding or misinterpretation of test results and consequent design errors. A number of examples are given together with suggested modified interpretations and the resulting dollar savings indicated by these new interpretations.

Jan 1, 1972

The 14MW SAG mill at Tarkwa, Ghana, experienced a frozen drop charge incident on 10 February 2010. This caused downtime of 112 hours, a repair cost of $200k and production loss of 162,000 tons, corresponding to a loss of $8.9M. A new locked charge protection system was installed on the two Tarkwa mills on 30 July 2010, mitigating this risk. This system calculates the ore angle in real time while the mill is starting up and trips the mill if the ore angle exceeds a trip angle setting. The calculation of the ore angle is derived from the mill motor rotor currents only - no mechanical transducers are required. The head of Gold Fields West Africa, Peter Turner, says of the new system: "This is excellent work and the type of technology that has had and will continue to have, major opportunity cost impacts on our business."

Jan 1, 2012

By S. Kelebek, E. Yalcin

This paper reports bulk flotation characteristics of a pyritic gold ore sample from the Barry District, Quebec using isopropyl and amyl xanthates. The ore sample was highly floatable with particles showing tendencies for self-aggregation that was most apparent in the first stage of flotation. A possible reason for this is discussed. The gold concentrate grade-recovery performance with respect to the particle size is presented for the rougher-scavengers as well as for the cleaners. The effects of copper sulphate as an activator, fuel oil and NaSH as a sulphidising agent are discussed along with the recovery by size behaviour.

Jan 1, 2011

By W. Keith Buck

This paper defines the discipline of mineral economics. By example, it describes the application of the tools of economic analysis to mineral problems - to problems in the areas of: mineral resource analysis and forecasting, mineral industry activity from exploration to distribution and marketing, mineral commodity analysis, and mineral policy analysis and policy formulation - all in a regional, national or international context.

Jan 1, 1972

"THE GOLD MINING REGION of Timmins - Val d'Or, astride the Ontario-Quebec border, has long suffered the effects of rising costs during the period when the U.S. price of gold was fixed at $35 per ounce. The federal government, through such assistance programs as that set up under the Emergency Gold Mining Assistance Act (E.G.M.A. ) in 1948, has subsidized the gold mining communities of Canada for a total of over $300 million to March 31, 1972. Of this, the Timmins - Val d'Or ""gold belt"" has received more than twothirds, almost $220 million. In spite of these continuous subsidies, only 12 gold mines are still producing in the Timmins - Val d'Or belt, whereas 71 mines have received subsidies for some period since 1948. The vital question is how the communities previously supported principally by the mining of gold will survive in the long run, as many of the older mines either are already depleted or are quickly becoming so. With the rising price of gold on the 'free market in recent months, prospects look a little brighter for the time being. Even with the increased official price of U.S. $38, which made the maximum government subsidized price about $48 per ounce, gold mines have not sold any gold to the government since January 1972 and some stopped doing so months before that. The populace of the region has not been enthusiastic about relocation nor about extensive retraining programs in the past and probably will not be in the future. So, when the remaining gold mines become depleted, the old problems of community depression will remain."

Jan 1, 1973

By W. E. Selnes

Introduction In 1938, a survey conducted by the Ontario Mining Association revealed a rather startling fact. Injuries incurred in chute pulling were more numerous than those from any other single cause. This report prompted Mr. W. B. Paton, then Inspector of Mines for Manitoba, to make a similar survey of the mines of his Province. It indicated that, in Manitoba mines, chute accidents ranked second only to those from falls off roofs and sides. Why has the mining industry been so slow to recognize the dangers of chute pulling? A partial answer may be the lack of any systematic classification of accidents according to their real cause. The result has been to attribute to other causes injuries which were a direct outcome of chute pulling, and, indeed, has made it difficult to analyze accidents in the industry as a whole. Perhaps, too, because chutes are generally located in the comparative safety? of the drifts, there has been a tendency to consider the occupation as not very hazardous. Not until enough statistics were obtained on this particular task could it be appraised correctly. The Mining Association's survey has been most helpful, and latterly the industry has done a great deal toward analyzing the causes of chute accidents and toward determining an effective means of overcoming them. Much, however, remains to be done. An effort will be made in this paper to outline methods which have been found successful in materially reducing the number of injuries. Qualifications of the Chute Puller First of all it must be realized that chute-pulling is a specialized occupation. The men require proper training for the job, just as in other mining operations. Care must, therefore, be taken to choose persons whose qualifications fit them for the job. Chute-pulling is an integral part of the general mining operation and cannot be considered as isolated from the tasks of other workers. One of the essential qualifications of a chute-puller is a sufficient knowledge of mining operations to appreciate the effect his work will have on the safety of others in the vicinity. He must take the necessary precautions, by verbal warnings, by placing barricades and signs, or by personally guarding the chutes, to prevent accidents to fellow workers.

Jan 1, 1947

By V. Gaudreault

Rio Tinto Alcan (RTA) has three smelters that use the Alcoa P155 technology: two in Canada (Grande-Baie and Laterrière, Saguenay, QC) and one in the United States (Sebree, Kentucky). The oldest RTA P155 smelter was built in the 1970s (Sebree) and had an initial current intensity of 155 kA. In the 1990s, RTA installed an amperage booster in Grande-Baie smelter to increase cell productivity. Since then, RTA has continuously pushed the limit of this technology and the target amperage that was 195 kA in 2005 has been increased to 210 kA in 2010.This article describes the successful plant-scale trials to increase current intensity from 195 kA to 210 kA, and the key performance indicator results. It demonstrates RTA's technology leadership to undertake such a development with its Brownfield smelters.

Jan 1, 2011

By E. Herrera, L. Mariscal

"Ilo Copper Smelter operates since 2007 with an ISASMELTTM furnace as a single smelting unit (1,200,000 tpy) associated with two Rotary Holding Furnaces for separation of matte and slag, and which directly produces a discard slag. Southern Peru continually has been improving the slag chemistry of its ISASMELTTM furnace in order to reduce copper losses, given its big economic impact due to large slag mass generation. The present paper describes the influence of the CaO, Al2O3 and magnetite content in the slag of the ISASMELTTM furnace correlated with the SiO2/Fe ratio and its liquidus slag. Also it defines the best slag chemistry and operating practice in order to reduce the copper losses without compromise the bricks life of the furnace.INTRODUCTIONIlo Copper Smelter of Southern Peru (Grupo Mexico) is located on the southern coast of Peru, and treats mainly copper concentrates produced in its own mines (Toquepala and Cuajone).The modernized smelter was commissioned in 2007 and operates with an ISASMELT™ furnace as a single smelting unit (1,200,000 tpy), which is associated with two Rotary Holding Furnaces (RHF) for separation of matte and slag. This slag is directly sent to the dump. Figure 1 shows the smelter flow diagram.The ISASMELT™ process is a bath-smelting process using a single lance. The lance tip is immersed into a molten slag bath contained within the stationary, vertical, refractory-lined ISASMELT™ furnace. The injection of oxygen-enriched air, through the lance into the slag results in a highly turbulent molten bath. Feed material falling into the turbulent bath from above reacts rapidly, resulting in extremely high productivity for a relatively small bath volume."

Jan 1, 2012

By V. L. Eardley-Wilmot

Diatomite as prepared for the market is a fluffy, white powder, remarkably light in weight-it weighs only 10 to 15 pounds per cubic foot, or one-tenth as much as sand. Being extremely porous and inert, it is in large and increasing demand for insulation and filtration purposes, as general filler, and for many other uses. Structure Structurally, diatomite is quite different from any other known commercial material. It is composed of myriads of microscopically small, siliceous shells of diatoms which belong to a group of flowerless aquatic plants called algae. When these plants die, the siliceous remains sink to the bottom of the water and form beds of diatomite. Over 8,000 species of diatoms are known, named, and tabulated. The intricate scroll-work and patterns on many of these are one of the marvels of nature, and yet so small are they that from 40 to 70 million separate diatoms may be contained in one cubic inch of material. However, the size and shape of these diatoms, which vary greatly (compare Figures 5 and 6), have an important bearing on the commercial use of the diatomite. The diatoms in the majority of the known deposits are so typical of that deposit that, after a micro-examination, an expert can usually tell not only from what part of the world, but also from what particular deposit, the sample has come.

Jan 1, 1931

By K. Kudo

Magnesium rods of 99.95% purity and approximately 6 mm in diameter were continuously cast at rates of between 15 and 25 mm/min by a heated mould process and their mechanical properties evaluated. It was found that rods cast at 15 and 20 mm/min consisted of a single crystal, while rods cast at a speed of 25 mm/min were multi-crystalline and showed a unidirectional structure. Although room temperature tensile ductility to fracture varied widely, it was found that with an appropriate crystal orientation, cast rods can exhibit elongation by as much as 215%.

Jan 1, 2006

By M. M. O?Brien

THE SULLIVAN MINE The Sullivan mine of the Consolidated Mining and ? Smelting Company of Canada, Limited, is situated at Kimberley, B.C., nineteen miles from Cranbrook, a divisional point on the Crowsnest Pass branch of the Canadian Pacific railway. Production started on a small scale in 1900, and in 1914 the mine became the largest lead producer in Canada. In 1925 it was the largest single producer of lead and zinc in the world. Since operations commenced, 4,800,000 tons of ore have been produced from stopes and 170,000 tons from development. At the present time, ore is being mined at the rate of 1,100,000 tons per year, with a yield of about 200,000 lb. lead, 110,000 lb. zinc, and 4,000,000 oz. silver. The town of Kimberley is easily accessible by road as well as by rail. The altitude at Mark creek, a tributary of the St. Mary's river, is 3,700 feet. To th'e north of the creek, Sullivan hill rises to a height of 6,100 feet, and it is on the southern slope of this hill that the mine is located. Sullivan hill is in the Purcell range, which rises between the Rocky Mountain trench on the east and Kootenay lake on the west. It thus lies within what is commonly referred to as the East Kootenay district.

Jan 1, 1926