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The theme of this paper is the development of-the project feasibility study which includes discussion of the work which is carried out in preparing the project feasibility study, the necessary evaluations and structures that are employed to ensure that not only does the feasibility study itself stand up to scrutiny and is sound, but also that the investment the company is proposing to develop, "the project", is an investment decision which will represent good returns to the company. This theme is particularly relevant when there are competing divisions within the company and only limited cash resources are available to make the correct investment decision. Thus various potential investments may be evaluated against each other to determine which project will be given the go ahead for development. This paper will particularly focus on the various investment analysis techniques that are used and discuss the work that is required in preparing the project feasibility study and specifically the interaction of the project team members and the thought process that must be undertaken to complete the project feasibility study. Finally comments will be made on tax planning issues particularly with respect to taxation of gold production to be introduced in January 1991. Some ideas are presented which may help and possibly improve the financial position of the projects being reviewed. Further, it is suggested that the thought process which goes with the financial engineering aspects of a resource project can be widened to take account of taxation issues and tax planning to ensure the rise of the project feasibility and hence the decision to proceed to development by the project sponsors.

Jan 1, 1990

By J. R. Thoenen

Profits in the crushed-stone industry, as in any other, represent the difference between selling price and production cost. When consumer demand increases rapidly, as occurred in the crushed-stone industry from 1918 to 1927, selling prices tend to rise. Cost of production usually rises, also, owing to the expense of expanding facilities, searching for and developing new quarries, and purchasing, installing, and operating new equipment. Frequently, also, the inattention of managements to the details of operating costs is responsible for their increase. This is not due to negligence but rather to the necessity of confining attention to the problems involved in producing material to supply orders. When market conditions change and consumer demand becomes stabilized or contracts, the producer r s attention usually is directed to assuring the orders necessary to keep his enlarged facilities busy. Hence, competition increases and soiling prices decline.

Jan 1, 1939

By C S. Szentesy, K Howie

The Rosia Montana gold deposit is located within the æGolden QuadrilateralÆ area in the Apuseni Mountains of Transylvania, Romania. The deposit is situated approximately 85 kilometres north of the regional centre of Deva, within the province of Alba, at elevations of up to 1100 metres above sea level. The Rosia Montana deposit contains a current resource of 344.07 million tonnes at an average grade of 1.3 grams per tonne (g/t) gold (Au) and 6.0 g/t silver (Ag) for a total (measured, indicated and inferred) contained resource of 14.29 million ounces of gold and 67.00 million ounces of silver. The resource was calculated using a 0.6g/t Au cut-off, a 10 x 10 x 10 metre block size and multiple indicator kriging. The low sulfidation style epithermal mineralisation at Rosia Montana is hosted within Tertiary age dacite intrusions and related vent breccias. Mineralisation is generally disseminated and associated with silica, adularia, illite, pyrite and carbonate alteration of host rocks, with minor late carbonate-base metal veins. Precipitation of precious metals is generally considered to have occurred as a result of over-pressurization, boiling and subsequent brecciation. The dacite intrusions are hosted in Cretaceous shallow marine and deltaic shales and slates, which overlie older Paleozoic sedimentary and metamorphic rocks within uplifted sections of oceanic sea floor.

Jan 1, 2002

By N H. S Oliver

Five major veining events have been identified within the area surrounding the Mount Whaleback microplaty hematite deposit. These veining events can be directly correlated to the established deformation history of the Hamersley Province (Brown et al, in press). Vein formation temperatures of 203 to 231¦C have been obtained from primary fluid inclusions within veins which formed around the postulated time of ore formation. Preliminary proton induced x-ray emition (PIXE) analysis of these inclusions indicates KCl is the dominant salt species with varying levels of Ca, Fe, Ti, Mn present. It is suggested that some of these veins may have formed from feeder or effluent fluids from microplaty hematite ore formation.

Jan 1, 2002

By S. R. Gilbert, C. O. Bounds, R. R. Ice

"Many ores are upgraded to produce auriferous sulphide concentrates (principally pyrite) which are not amenable to direct cyanidation. Often these refractory gold-bearing concentrates contain undesirable elements such as arsenic, antimony, etc., which present environmental and/or processing problems. The pretreatment techniques most often considered for processing these concentrates prior to cyanidation include roasting, pressure oxidation, chemical oxidation, pre-aeration, and recently, bacterial oxidation. In this paper, the technical performance and economics of bacterial pre-oxidation vs the classical roasting approach for treating a specific auriferous pyrite concentrate are compared. The results provide flow sheets, preliminary operating and capital cost estimates, and rates of return for the two processes and demonstrate the potential advantages of bacterial pre-oxidation. IntroductionThe increased attention that gold has received in the last ten years has prompted mining companies to look for lower grade orebodies. Many of these low-grade ores do not respond well to conventional direct cyanidation recovery techniques. As free-milling ores decline, gold is sought in refractory environments which, ultimately, drive up the treatment costs.There are a number of reasons for a gold ore to be termed refractory, most of which can be identified by thorough mineralogical examination. The mineralogical occurrence of gold can, to a great extent, impact the method by which the ore is treated and, consequently, the capital and operating costs. Gold in a refractory ore can often occur as discrete particles locked in a host of silicate or carbonate gangue, or associated with sulphides or sulphosalts. Depending on its particle size, gold can be liberated and recovered by mechanical size reduction such as regrinding. This approach is most effective for gold in the 10 - 50 micron range. Gold can also be associated with clay, iron hydroxides, or other minerals which tend to coat the gold surface and inhibit the penetration of the cyanide solution, resulting in poor plant recovery. Because of their resistance to cyanide dissolution, gold tellurides and other refractory gold minerals are also responsible for losses to the tailings. For these reasons, it is paramount that the mineralogical occurrence of the gold be thoroughly and accurately determined before selecting a final process flowsheet."

Jan 1, 1988

By G. Hausen, H. Micka

"Modern signal and power electronics made adjustable-speed AC drives technically feasible and reliable and economically attractive. Cycloconverters are discussed as a proven technology for mine hoists. \IntroductionUntil rather recent technical and commercial advances in power and signal electronics, DC motors were used almost exclusively for applications requiring continuously adjustable operating speeds and torques. More recently, the significantly higher efficiency and the accordingly lower operating costs of AC motors gained importance. An effective and efficient speed control of AC motors requires the control of AC voltage and frequency. Table 1 shows typical applications of adjustable-speed AC drives.CycloconvertersOf particular interest to the mining industry are cycloconverters for hoist drives. The cycloconverter represents by far the simplest, most efficient and most economical means of converting a constant-voltage, constant-frequency supply into an adjustable-voltage, adjustable-frequency supply as required for the speed control of AC drives operating in the frequency range to half of the utility frequency.Cycloconverters feeding synchronous motors or induction motors are ideally suited for slow-speed direct-coupled drives."

Jan 1, 1988

Power Point Presentation

Jan 1, 2007

By Charles Stone, Hannes Lagger, Dru Desai

The design methodology of the planned Second Avenue Subway Project (SAS) led to development of the initial support design to estimate cost and quantities in the Preliminary Engineering (PE) stage. Careful selection of the cavern design rules that recognized the impact of rock quality, rock cover, excavation geometry, and excavation sequence helped to overcome the design challenges of large, shallow caverns for the initial ground support. In the course of the design verification process prescribed by the design methodology, the design team was continuously reviewing and updating the support quantities. The design procedure includes methods using different approaches of empirical, continuum, and discontinuum analyses, which are currently advanced in the Final Engineering (FE) stage. The paper is a continuation of the RETC 2005 “Trials and Tribulations” and focuses on the procedures that led to the changes in the initial support as a result of the ongoing design development.

Jan 1, 2007

By G. I. McPhail

The authors have conducted several investigations into the prediction of the beach profile of high-density tailings and have found that there are a number of important considerations that need to be taken into account over and above the reliability of the beach profile prediction methodology. These considerations relate to the chemistry of the slurry and specifically the influence of pH and flocculation, both of which have a significant influence on the rheology of the slurry at the discharge point. A number of examples are discussed and a potential testing protocol that will assist in assessing the influence of chemistry ahead of the beach profile predictions is presented. A methodology for assimilating the results of the testing into the likely field situation is discussed, and suggestions are made on application of the results in beach profile prediction. The suspected influence of residual flocculation on the stratification

Jan 1, 2012

By R. Benito

This paper describes the application of modern data-analysis tools, such as data mining, to determine a representative cost driver for haulage activity. This cost driver was subsequently used to trace incurred haul costs by bench for openpit optimization. For this purpose, large amount of previously unused cost and production data from an open pit mine was extracted, loaded, transformed and integrated into a data warehouse. Predictive modeling was performed using Microsoft Decision Trees algorithm to compute expected unit haul costs by bench for future mine expansions. Finally, a sensitivity analysis was carried out to determine the effect of two cost drivers (if any) for incremental haul costs in the final pit outline process.

Jan 1, 2008

By Lawrence Winter

why are these deposits significant? (i) economically and (ii) in a VMS/geological context. ?Significance of the tectonic setting. ?New understanding of the regional geology: volcanic stratigraphy, first geochronologic data. ?Deposit geology: paleomorphologyof the seafloor setting. ?Lessons and conclusions ?Regional Potential

May 1, 2006

By C. F. Gleeson, D. G. Sheehan

"The results of humus and overburden geochemical surveys over the Doyon, Bousquet and Page-Williams gold ore deposits are presented.These studies show that humus sampling for gold gives negative results over the Doyon deposit. The lack of response is probably caused by the presence of 1 m of relatively impermeable glaciolacustrine clay and silt that overlies 1 m to 2 m of till over the surface expression of the ore zone. By contrast, positive responses for gold occur in humus samples over the Page Williams A and C gold deposits. The ""A"" ore zone is covered by several metres of exotic calcareous till over 0.5 m to 1 m of older, locally derived till. Anomalous values for gold in humus range from 10 to 35 ppb over the orebody. Overburden over the ""C"" ore zones is much thinner, generally it consists of less than 2 m of sandy till. Trenching humus anomalies that range from 10 to 1360ppb Au uncovered the gold mineralization. The geochemical dispersal trains in till from the Doyon orebody and the Page-Williams ""A"" zone are relatively short (i.e. less than 200 m) because both deposits occur in the lee of bedrock highs that shielded them from extensive glacial quarrying. Dispersal trains from all three pyritic gold deposits can be defined using either the fine fraction or heavy mineral fraction of the till.The intensity of the gold in till anomalies over the ore zones is variable. Therefore, it would be misleading to attach rigid significant threshold gold values to overburden drilling results. Each case must be evaluated based on bedrock topography, sample density, overburden type, thickness of till, as well as size, type and orientation of the target exposed to glacial erosion."

Jan 1, 1987

By Scott Ellenbecker

Soon New York City will have a new train station. A tunnel project is under construction to extend Line 7 to a new station that is located near the Jacob K. Javits Con-vention Center. This is also part of the Hudson Yards redevelopment project that is intended to aid redevelop-ment of the west side of Midtown Manhattan around the Long Island Railroad?s Caemmerer Railyard. The station, or ?cavern? as it?s called by those excavating it, will be the portal for that growth. In the city, public transportation means high-rise residential proper-ties will have better access to the business district, and those outside the area will have greater access to event facilities ? two factors that are critical for development investment.

Jan 3, 2010

The Manto Verde mine is found in the coastal ranges of the Atacama desert, 1000 km north of Santiago, Chile . The deposit is a fault-breccia specularite-oxide copper mineralisation hosted by the Jurassic andesites of La Negra Formation. It is located in a tensional fault that joins twoparallel arms of the Atacama Fault. The mine is in feasibility study: reserves are of the order of 60 Mt at 0.9 wt per cent soluble copper; mining will be undertaken at a rate of 11 000 tpd utilising an open pit and the ore will be heap-leached with acidified sea water, with copper recovery and by SX/EW.

Jan 1, 1992

Three complete connector assemblies and six separate contacts were submitted to a series of tests to establish the connectors permissibility and compliance with U. S. Bureau of Mines research Contract #H 0110423 D.C. portion. Test Procedure TPC-0118 was coordinated, and the test plan approved by the Bureau as fully complying with the intent of the contract for the direct current connectors. The components and connector assemblies have been demonstrated in testing that they meet or exceed all the requirements of the test procedure.

Jan 1, 1974

By K. Kawakami

In Japan, pile foundations have been used extensively for buildings, bridges and port facilities. A large number of steel pipe piles were first used in the 1960's and the amount of steel used in foundations increased by 1973 to one million tons. This report describes current practice in the actual use of large diameter and long steel pipe piles in Japan, related to their performance: including consideration of pile size, hammer types used for driving the results of field tests measuring stress occurring in the piles and the driving formulae currently being used in practice in Japan.

Jan 1, 2010

By Patrick E. Durnal

A joint venture of Ben C. Gerwick Inc., Sverdrup (now Jacobs) and DMJM (now DMJM Harris) designed the $779 mill seismic upgrade of the Richmond - San Rafael Bridge over the San Pablo Bay in the San Francisco Bay Area and provided construction support to Caltrans. Construction of the marine foundation retrofit was completed by a joint venture of Tudor Saliba/Tidewater/Koch-Skanska and their subcontractors: Pomeroy Precast Construction, AGRA Foundations, Dutra Construction and Vortex Divers. Construction management and inspection was performed by Caltrans with support of various consultants.

Jan 1, 2013

By J. D. Steenkamp

In a paper presented at the Heavy Minerals Conference 2001 a laboratory scale investigation on the beneficiation of an ilmenite containing waste stream by magnetizing roasting was reported1.This waste stream contained a high concentration of ilmenite, which was contaminated by chromite and other gangue minerals. Interpretation of the results of the investigation was based on the assumption that during magnetizing roasting of an ilmenite concentrate, under the oxidizing conditions, the magnetic properties of the chromite would remain constant. In this article the following hypothesis was tested: The magnetic susceptibility of chromite would remain constant during magnetizing roasting of an ilmenite concentrate under the oxidizing conditions reported by Gouws and Van Dyk1. The results of this study indicated that the hypothesis is not true. The increase in the magnetic susceptibility is not significant though and it is expected that it will not influence the final ilmenite quality to a large extent. Based on the assumptions that the bulk magnetic susceptibility of the waste stream samples represents that of the ilmenite in the waste stream, and the bulk magnetic susceptibility of UG1 chromite that of the chromite in the waste stream, the results also served to confirm that the waste stream with a high chromite content should be roasted under oxidizing conditions, in a reactor with a well-defined retention time distribution (i.e. a fluidized bed reactor), at a roasting temperature of 750°C (rather than the higher temperature ranges of 800°C and 850°C).

Jan 1, 2003

By F. T. Cawood

The distinction between real estate ownership and that of interests in the property is fundamental to the appraisal of mineral properties. This distinction affects the nature and understanding of security of tenure and, consequently, the perception of what constitutes fair value. Legal matters are a particular concern because of their influence on security of tenure, ownership definition and use restrictions. The dynamics of the market and the complex interrelationships between the factors of production define value at a specific point in time for the bundle of rights, interests and assets that constitute a mineral property. Because each mineral property is unique, physically immobile and of a wasting nature, its usefulness to its owner and society must be optimized. The US Appraisal Institute (2001) classified the forces that affect land use as the cultural, political and economic attitudes of society. These forces culminate in laws that often dictate the purposes for doing appraisals. Once the legal definition of the asset is understood, valuers can decide on the valuation process that will support the final valuation approach.

Jan 1, 2004

Mineral deposits of the central New Guinea region (Gunung Bijih, Ok Tedi, Mount Kare, Porgera, Frieda River) and of southeastern New Guinea (Wau-Edie Creek, Wafi, Hamata, Hidden Valley, Tolukuma, Misima) are associated with hot, forceful intrusions of magma of mantle origin that penetrated thick Precambrian and Palaeozoic continental crust. The interaction of high- temperature melt with continental crust, and the differentiation of melt while in transit through thick crust, may be factors in generating ore. Mineralised intrusives in central New Guinea are a result of Neogene- Quaternary magmatism and were emplaced in a foreland thrust belt environment, a setting similar to the (mineralised) Laramide intrusions of southwestern USA. In both cases, central New Guinea and the Laramide, magmatism is not obviously subduction- related. Mineralised intrusives in south- eastern New Guinea (Wau-Edie Creek, etc.), also, are in a thrust belt setting, and are not obviously subduction-related. The association of. gold in southeastern New Guinea with a second (Pliocene) phase of igneous activity, rather than with earlier (Miocene) activity suggests that re-working by successive intrusions may be a factor in localising ore. This is seen, also, in the Bismarck-Solomon islands region where the richer deposits are associated with later (Pliocene) intrusives rather than with earlier (Eocene-Oligocene) intrusives. Unlike the mainland mineral deposits, those of the Bismarck-Solomon islands are clearly subduction-related.

Jan 1, 1991