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By Peter N. Calder

The orientation of planes of inherent weakness (joints) with reference to an excavation in rock is the critical factor determining stability. The purely frictional 'residual' strength remaining following the breakdown of initial cohesion is the only strength which can be counted on to resist sliding for the long term. A simple method of resolving driving and resisting forces in three dimensions along joint intersections 'undercut' by the excavation is presented. Contrary to the case of slope failure in soils, it is shown how significant changes in the slope angle sometimes have no effect on the degree of stability pre-sent in rock slopes. Wall control by reorientation of the slope, the use of cable bolts and water diversion are briefly discussed.

Jan 1, 1970

By M. M. Holgate

"Porosity neutron deflection scales can be derived more easily by cumulative correlation than by the conventional method of plotting corresponding points on a graph. The micro-log can be used as a porosity datum for the neutron log by transforming the permeability cut-off it shows to a porosity cut-off by a permeability-porosity function obtained from core analysis. Porosity footage values calculated in this manner from the neutron log are within 20 per cent of core analysis values."

Jan 1, 1960

By M. Choy, A. Kadiayi, E. Magdzinski

"Design of engineering controls to limit occupational noise exposure rely on accurate calculation inputs. Sound in mines can carry considerable distances. Mine ventilation engineers rely on noise propagation calculations to estimate silencer performance criteria for key mine fan installations that are often in proximity to occupied areas of a mine and can remain in service for decades. The blasted and rockbolted walls of hard rock mining tunnels have unique acoustical properties. Underground testing in an operating metal mine in Sudbury, Canada was performed and results processed to characterize noise propagation in mines, with the goal of improving the accuracy of noise calculations.INTRODUCTIONAs mine operators continue to improve and promote workplace safety, addressing noise at fixed infrastructure locations is observed as increasingly common. Underground fans are important to consider in this context, as they are typically loud, in proximity to occupied and sensitive workplaces, and operate nearly continuously. Predicting noise propagation from ventilation fans within underground mines has long been a challenge, with few available resources documenting acoustical properties as calculation inputs. Other factors in addition to rock face absorption properties include tunnel geometry and distance from the fan, which play critical roles in characterizing the noise level at any given point away from the fan. By understanding and establishing methods to better predict noise dissipation along underground mining tunnels, engineers can design noise controls with a greater degree of precision and confidence to effectively protect workers from over exposure to noise.This paper investigates classical methods of predicting reverberant room and direct field noise propagation. These prediction methods are then compared to noise measurements taken within the Fraser Mine of Glencore’s Sudbury Integrated Nickel Operations (Sudbury INO) Measurements were taken at a depth of ~881 m (2,889 ft), along an ~300 m (984 ft) long blasted hard rock mining tunnel. The noise along the mine tunnel resulted from the intakes of two 900 kW (1,200 hp) ventilation fans with a combined exhaust capacity of 300 m3/s (630,000 cfm)."

Jan 1, 2019

By J. E. Ryan

General Description Due to the extreme cold weather experienced in Flin Flon during the winter months, thought and precaution were necessary in the design of the plant buildings. The machine shop, carpenter shop, drill shop, and coal plant buildings are similar in the building materials used in their construction. They are sided with two-inch shiplap, insulated with celotex and asbestos paper, and covered with corrugated iron on all side-walls. Roofing consists of 2 by 4 lumber on edge, laminated, and further covered by celotex and three-ply roofing. These buildings are heated by means of unit heaters. The heaters are primarily steam-heated radiators, through which the air of the buildings is circulated by electrically-driven fans. Our machine shop is located to the east of, but central to, the main operating buildings of the mine and plant, and is so connected by a net work of tracks as to be able to serve all portions of the entire plant conveniently. The building is divided into two bays, the main bay 53 ft. by 340 ft., and the east bay 24 ft. by 340 ft. The shop office and drafting room, a two-story annex 24 ft. by 30 ft., is located on the west side of the shop. The arrangement within the shop is such as to house conveniently the several departments, namely, heavy machine tool section, repair floor section, boiler shop heavy tool and floor section, blacksmith heavy tool and forge section, tool room, electric welding rooms, stock room, tin and copper shop, and electrical parts and armature winding and repair shop (see Figure 1). All the heavy tools, the repair floor section, and railway tracks are so located in the large open bay as to be fully serviced by an electrically operated 15-ton bridge crane, with a span of 50 feet and a travel the full length of the shop. A standard-gauge railway track, branched off the main line, penetrates the full depth of the building. This track lies along the extreme east side of the main bay, allowing easy entrance and movement of rolling stock and heavy machinery, loaded on standard flat-cars, to the repair floors in the main bay. Eight jib cranes, affixed to building columns, further facilitate the heavy repair work throughout the various shop divisions. Our light and heavy machine tools are standard equipment, not unlike tools used in mine, mill, and railway shops.

Jan 1, 1935

By Georgy A. Cherkashov, Andrey V. Efimov, Yury S. Borodaev, Nadezhda N. Mozgova, Sergey G. Krasnov, Tamara V. Stepanova, Alexander M. Ashadze

"Abstract - A horizontal mineralogical-geochemical ore zonation with a southeast to northwest trending succession of Cu and Fe (Zn) main zones has been discovered in the Logatchev hydrothermal field (14°45??N Mid-Atlantic Ridge). The major minerals are pyrite, chalcopyrite, bornite, isocubanite, digenite and chalcocite. Zn-sulfide, marcasite and covellite are less abundant. Rare minerals are native copper, zincian copper and cobalt pentlandite (first found in oceanic massive sulfides), Cu and Cu-Co-bearing Fe-disulfides. Two groups of the main sulfide assemblages with different copper contents are recognized: Group I comprises assemblages with primary sulfides (isocubanite, chalcopyrite, pyrite and Zn-sulfide; Cu up to 35 wt% in Cu-bearing minerals); Group II contains assemblages with secondary Cu-rich sulfides (bornite, digenite, chalcocite; Cu ~60 wt%) as well as rare minerals (cobalt pentlandite, native copper and zincian copper). The assemblages of Group I formed at a temperature of about 300°C; the sulfur fugacity (log fs2 atm) at 300°C is probably 9.9. Relations between minerals of this group are contradictory, attributed to non-equilibrium environments, and no unified sequence of crystallization of minerals has been determined. Minerals of Group II replace, rim or cross the assemblages of Group I. Group II minerals crystallized in a distinct sequence (cobalt pentlandite-bornite-digenite- chalcocite-native copper), with increasing copper content from the start to the end of the depositional sequence. This may correspond to pH from 7 to 8 near Eh = -0.2 at 250°C. Minerals of this group were generally formed under hypergene alteration processes. Compositions of ore minerals were studied by means of electron microprobe analysis (EMPA) (150 analyses). Narrow composition fields were revealed in all main sulfides, which comprised known experimental data. ZnS contains 6.0 to 28.0 mol.% FeS, which is close to data known for other hydrothermal massive sulfides from the Mid-Atlantic Ridge (MAR). A common admixture in ZnS is Cu (0.16 to 1.32 wt%). Rare grains of unusual anisotropic Fe-disulfides, (Fe0.95Cu0.05)S2 and Cu(Fe,Co)9S20, were found among the ore minerals."

Jan 1, 1999

By Ashley Tews

In 2005, we automated a forklift-based Hot Metal Carrier to be capable of typical metal transfer operations around a smelter. The project was highly successful and the vehicle has demonstrated hundreds of hours of live autonomous operations to thousands of people from industry and the public. As a result of the exposure and success of the project, we have expanded its focus to demonstrate how various technology components can be utilised to gain benefits in other areas of industrial operations. These include asset tracking, vehicle usage analysis, pedestrian detection and infrastructure profiling. Each of these components was derived from the core autonomous vehicle technology suite and has shown a high potential for improving safety and efficiency of vehicle-related operations, and improved diagnostic processes for measuring deformations of bakes and furnaces. The autonomous vehicle project and its extended technologies are described in this paper.

Aug 1, 2013

By R. N. W. DiLabio

"In a continuing program of mapping glacial dispersal trains, near-surface till samples were collected down-ice from a copper-silver-gold prospect at Onaman River, Ontario, and down-ice from the past-producing gold district at Oldham, Nova Scotia. The program is designed to aid exploration by illustrating glacial dispersal from various types of known occurrences and by identifying postglacial processes that control drift composition at a detailed scale.Native gold was mined at Oldham from arsenopyrite-bearing saddle reef quartz veins in a dome in Early Paleozoic slates of the Meguma Group. Gold abundances greater than 10 ppb in till form a dispersal train at least 1900 m long. Gold abundances between 40 and 100 ppb occur in clusters up to 600 m down-ice from gold-bearing bedrock. Anomalous arsenic abundances in till form a broad train 1100 m long that is significantly different in shape from the gold train.At Onaman River, subeconomic amounts of Cu-Ag-Au occur in quartz lenses in Archean mafic volcanic rocks. A dispersal train defined by the distribution of mineralized boulders and increased abundances of Cu, Ag and Zn in till extends 600 m down-ice from mineralized bedrock. Gold abundances between 10 and 70 ppb do not define this dispersal train, but occur instead in clusters 300 to 600 m down-ice from mineralized bedrock. In vertical sections in the upper 2 m of copper-rich till, Au abundances vary sympathetically with Ag and Cu levels; however, there seems to be no preferential site of Au enrichment in the mineral portion of the soil profile.Several of the mineralized boulders at Onaman River are richer in Au and Ag than the mineralized bedrock from which they were derived. Although some of the high Au and Ag assays were caused by biased sampling of sulphide-rich portions of the boulders, many were caused by leaching of sulphide minerals from 'the boulders, which left a limonitic boxwork that is enriched in Au and Ag. A few of the Au-rich boulders may have been derived from an unknown bedrock source."

Jan 1, 1982

By Yongsheng Song, Yong Chen, Wenjuan Li

"Detailed characterization and improved recovery of a micro-fine, low-grade refractory gold ore from a beneficiation plant in Yunnan Province, China, was investigated. Different analytical techniques, such as videlicet size analysis, scanning electron microscopy, and mineral analysis by a Mineral Liberation Analyser, were used for mineralogical characterization of the ore. This paper describes an experimental study on the effect of the grinding fineness and the use of various flotation reagent regimes involving collectors, depressors, and activators on the flotation behaviour of micro-fine auriferous pyrite. Two-stage flotation resulted in high gold grade (32.71 g/t) and gold recovery (80.02%) of the bulk gold concentrate. This process opens the possibilities of maximizing Au recoveries in a micro-fine low-grade refractory gold ore where low recoveries are common.INTRODUCTIONWith the rapid development of the gold industry, refractory gold ores are becoming increasingly important resources for gold production (O’Connor & Dunne, 1994; Agorhom, Skinner, & Zanin, 2012). Among these refractory gold ores, sulfur and micro-grained native gold ores represent a significant challenge, since they are not amenable to gold recovery by direct cyanidation. The gold contained in this type of ore is very finely disseminated and encapsulated in sulfides, which makes it inaccessible to the cyanide solution during direct cyanidation (Bulatovic, 1997; Allan & Woodcock, 2001). Autoclave pressure oxidation (AC POX) of the sulfide ore and subsequent cyanidation is a common technology used to recover the gold in such types of ore. Flotation is often used as a pre-treatment method to refractory gold ore (Monte Lins, & Oliveira, 1997).As the gold-carrier minerals are usually finely disseminated (sometimes under 10 µm) and intimately associated with gangue minerals, a fine grind is necessary to get a high degree of liberation. At the same time, the fine grind usually causes the production of significant quantities of slimes, which comprise easy-to-float gangue minerals such as mica, dolomite, and calcite. These mineral phases are naturally hydrophobic and float readily, competing with the value minerals in the froth phase and resulting in lower concentrate grades."

Jan 1, 2016

By B. D. Sparks, I. E. Puddington, F. W. Meadus

The continuous separation of bitumen from Athabasca tar sands, with a high clay content, has been demonstrated. Recoveries of 95 per cent or higher have been obtained. Further processing of this product, to produce an accept-able type of crude oil, would require less heat than currently used in the hot-water process. Also, by comparison, substantial savings in equipment and operating costs are indicated.

Jan 1, 1971

By K. Ogawa, T. Yokoyama

Hydraulic fracturing technique, an applied technique to cause tensile fractures to rock by injecting water pressure to a certain closed section of the borehole, is a measurement method of in-situ rock stress. This technique has the highest track record for techniques used in sub 1000 meter. A feature of this technique is comparatively simple and easy for in-situ stress measurement, because the measurement is applicable when a drilled borehole is available. The predominant advantage of this method is that elastic constants such as Young’s modulus and Poisson’s ratio are not required for determining the value and direction of initial stress. The factors to determine the stress state are the water pressures of re-opening and shut-in of fractures around the borehole wall and its directions. With conventional methods, however, the accuracy of the derived stress states from the observation equations was often adversely affected by the lack of consideration of the remaining water pressure in fractures and insufficient stiffness of the pressurization system. We have developed a new hydraulic fracturing system based on a new test method concept overcoming these defects, and applied to a 300 meter deep borehole in granite. The most important improvement of the new system is an employment of a syringe pump which enables an accurate flow control of fluid with less than 1ml/min in the pressure of 30MPa. Therefore the new test system has a quick response for pressurising in the interval zone, and the measured data was confirmed extremely accurate.

Jan 1, 2015

By W. N. Wallinger

The mine and concentrator of Cyprus Anvil Mining Corporation are situated in south-central Yukon, some 120 miles north of Whitehorse. The large lead-zinc concentrator employs conventional crushing and grinding , followed by differential flotation, to produce selective lead and zinc concentrates, as well as a mixed lead-zinc (bulk) concentrate. Since the commencement of operations in 1969, the concentrator has undergone expansions and modifications which have increased the capacity to 10,000 tons per day, and afforded some metallurgical improvements.

Jan 1, 1978

By Frederik H. Kriel, John Ralston, Craig Priest

"Stream-based microfluidic solvent extraction offers a novel alternative to bulk-scale mixer-settler operations. However present maximum throughputs are restrictive and there are engineering challenges that need to be overcome before the technology is robust. This is especially the case for mineral processing, where circuits must be able to handle variable feed streams with long retention times and where maintenance should be minimized. This paper highlights research directed at investigating and evaluating these challenges for actual mineral leach solutions of metal ions. Molecular and particulate channel fouling is discussed. Most extraction systems studied to date show no effects that would preclude use of the technology. For rare earth elements (REE) with fast extraction rates, scale-up of volumetric throughput to 100 L/h using suitable arrays of channels, microfluidic chips and modules is shown to be achievable using a small contactor (approx. 2 m3) platform. This requires only 2–3 % of the typical aqueous phase inventory and residence time used in an equivalent mixer-settler. For a circuit with 100 contactors, the overall residence time would be less than 1 h, using an aqueous inventory of 40 L.INTRODUCTIONHydrometallurgy is of pivotal importance in many mineral processing circuits around the world, with liquid-liquid solvent extraction (SX) a key step in the separation of many base metals (e.g. Cu and Ni), radioisotopes, precious metals, and the ‘technology’ metals, such as rare earth elements (REEs) (Ritcey & Ashbrook, 1979). The standard equipment for SX in mineral processing is the mixer-settler, in which liquid dispersions are created, by agitation, to increase the surface-to-bulk ratio and, thus increase the mass transfer rate between the liquid phases. In stream-based microfluidic SX (microSX), these high surface-to-volume ratios are achieved by contacting microscopic streams (Ciceri, Perera, & Stevens, 2014), rather than forming small droplets, so that phase disengagement can be accelerated (essentially instantaneous via branching of the two streams of liquid at a channel junction). MicroSX is profoundly different from bulk mixer-settler SX operations and offers exciting opportunities for processing hydrometallurgy solutions (Kriel, Holzner, Grant, Ash, Woollam, Ralston, & Priest, 2015; Priest, Zhou, Klink, Sedev, & Ralston, 2012). Nonetheless, the advantages of using microfluidic environments are presently balanced by very significant challenges relating to throughput, process control, coupling of stages, flow stability, and fouling. If these challenges can be met using smart chip designs, process control and clever engineering, high-value/low-volume SX processes stand to benefit greatly."

Jan 1, 2016

By Ye Chen, Jianhua Chen, Xianhao Long, Qingxia Liu, Zhenghe Xu

"It is crucial to understand the mechanism of the collector interacting with the mineral surface in the presence of water molecules, which could influence the relaxation and electronic properties of sulphide mineral surface due to the proximity effect for narrow band gap of semiconductors. The adsorptions of three typical collector molecules (xanthate, dithiocarbamate and dithiophosphate) on the sulphide mineral surfaces in the absence and presence of water molecule have been simulated by density-functional theory (DFT). The calculated results show that the adsorptions of collectors on clean mineral surface in vacuum are not in agreement with the observed flotation behaviours. The presence of water molecules has a great influence on the adsorption of collectors. The analysis of density of states of the mineral surface atom suggests that the adsorption of water molecules could influence the electronic properties of mineral surface and consequently influence the adsorption between the surface and the collector molecule.INTRODUCTIONIn the separation of multi-metal sulphide ores, the selectivity of a collector is a key factor for the efficient recovery of the aimed mineral. Xanthate, dithiocarbamate (DTC) and dithiophosphate (DTP) are the most common collectors used in the flotation of sulfide minerals. Generally, xanthate exhibits powerful collecting property but lack of selectivity. While dithiophosphate and dithiocarbamate show the good selectivity in the lead and copper sulphide mineral flotation. The mechanisms of these collectors interacting with the sulphide mineral had been attracted many attentions and several mechanism based on experimental results had been reported (Chander & Fuerstenau, 1974; Fuerstenau, 1990; Raju & Forsling, 1991; Crozier, 1991; Bradshaw, Cruywagen & O’Connor, 1995; Guler, Hicyilmaz, Gokagac & Emekci, 2006). However, the micro-mechanisms of the selectivity of these three thiol collectors on different sulphide mineral surfaces are not fully understood."

Jan 1, 2016

"The Waite-Amulet, an important copper-zinc mine, lies astride the Duprat-Dufresnoy township boundary about 8 miles northwest of Noranda, Quebec. It is an amalgamation of two properties, that of the former WaiteAckerman- Montgomery Mines to the north and that of Amulet Mines, Limited, to the south. This amalgamation took place in 1933. The description that follows is confined to the Amulet section.Ore was first discovered on the Amulet property in the autumn of 1924. The C Shaft and Upper A orebodies were found in 1925 and the F orebody in 1929, the latter by diamond drilling under a swamp. Under the present management, Lower A ore body was discovered by diamond drilling at a depth of 700 to 1,200 feet in 1938, and new ore was found from the old C Shaft workings between 1943 and 1945.From April 15th to October 20th, 1930, 60,291 tons of ore was produced from the Amulet. During the second half of this period, the ore averaged 4.2 per cent copper, 16.3 per cent zinc, and 0.02 oz. gold and 3.35 oz. silver per ton. Due to the prevailing low prices of metals, there was no further production until July, 1937. Output was greatly accelerated in 1940 when the newly found Lower A orebody assumed the main burden of production. Up to January 1st, 1946, mill reports indicate the treatment of the following ore: GENERAL GEOLOGYFig. 1 shows the geology of the entire property. To the east is the Lake Dufault granodiorite stock and to the west the Flavrian Lake granite mass. Around the granodiorite and separating the Waite from: the Amulet section is an older diorite intrusion. The ore occurs in a series of lavas that form a broad anticline pitching eastward at a relatively low angle into the Lake Dufault intrusives. There are several steep east-west faults. The late Powell diabase dyke is shown, also the general areas of strong dalmatianite alteration, a type closely associated with the sulphide mineralization."

Jan 1, 1954

By J. Stiksma, J. Dennett, R. Kalanchey, J. Ji, M. Collins, T. Chan, R. Berezowsky

A pilot plant campaign has been conducted by Sherritt Technologies in support of Eldorado Gold Corporation’s evaluation of pressure oxidation technology for the treatment of refractory gold concentrates from the Certej deposit in Romania. Four separate concentrates, containing 3.5 to 5.4 g/t Au, 13.0 to 14.5% S2- and 12.0 to 32.5 g/t Ag, were tested in the eight-day campaign. The major gold-bearing mineral was pyrite. Preliminary batch tests indicated that gold extraction from the oxidized concentrates in subsequent cyanide leaching was adversely affected by the presence of organic carbon in the pressure oxidation feed when chloride in solution was at an elevated level. As such, the process conditions that were tested during the pilot plant operation were selected to either counteract the negative impact of the organic carbon, or to deactivate it during pressure oxidation. Both process routes proved feasible, yielding gold extraction of 95 to 98% in cyanide leaching of the oxidized concentrates. Silver extraction was typically in the range of 80 to 90%, provided that the oxidized concentrates were also processed in a lime boil step prior to cyanide leaching.

Jan 1, 2014

By M. W. Bartley

DURING the field season of 1938, the Ontario Department of Mines assigned a combined geological and geophysical survey patty to the investigation of the location, genesis, structural relationships, and economic possibilities of the hematite deposits at Steeprock lake. The investigation was carried out by detailed mapping of the rock exposures and a magneto-metric survey of the drift-covered portions of the area. This was supplemented during the winter of 1938-39 by further geophysical work conducted on the ice. Dr. A. A. Brant, of the Department of Physics, University of Toronto, was in charge of the geophysical work for the Department of Mines in the summer and for the Sterola Exploration Company in the winter. The writer supervised the geological examination. Scope of the Paper The present paper is an attempt to acquaint the members of the Institute with the structure and mode of occurrence of the deposits, since many people are of the erroneous opinion that they are analogous to the Mesaba and Michigan deposits. It is hoped that, from this discussion, they may be able to draw some conclusions of their own regarding the nature of the deposits, and the importance and future possibilities of the region.

Jan 1, 1939

By C. Mattich, Å. Holmström, L. Hedström

"The fluidized bed at Division Ministro Hales (DMH) division of Codelco in Calama, Chile is currently the largest operating roaster for partial roasting of arsenic rich copper concentrates. The roaster converts the Mina Ministro Hales (MMH) enargite rich (Cu3AsS4) copper concentrates into calcine with a low arsenic content that is suitable for mixing with other copper concentrates feeding a flash furnace. The plant sets a new standard for the processing of arsenic rich concentrates, both from the quality of the calcine as well as the environmental performances. The process technology and expertise are based on the solid practical experience of treating arsenic rich concentrates from both the Boliden smelter and Outotec.The partial roasting process is located next to the mine and concentrator and includes a sulphuric acid plant with auxiliary equipment. The produced calcine has an arsenic content significantly below target and the residual sulphur meets the requirement of the flash furnace. The plant operates with high efficiency cyclones resulting in a low amount of calcine passing to the hot electrostatic precipitator (HESP). The small flow of HESP calcine dust can be combined with the low arsenic calcine and still meet the flash furnace feed arsenic requirements.SO2 formed during roasting is converted into sulphuric acid, while volatized arsenic is recovered in the wet gas cleaning section of the acid plant along with a large proportion of antimony present in the MMH concentrate. Arsenic is stabilized as calcium arsenate and sent to disposal at a specially prepared site.The present production rate (September/October 2015) is close to or higher than the original maximum design capacity of the plant.INTRODUCTIONMineralogyThe mineralogy of an ore and concentrate is important, since there is a direct link between roasting performance and concentrate mineralogy. The MMH concentrate has a good combination of minerals that makes the roasting process efficient and flexible. The main minerals are pyrite, enargite and chalcocite (Figure 1). The inert content is about 15% and consists mainly of silicate and alumina based minerals. The lead content is very low and this is desirable, since the presence of even a small amount of lead will cause a substantial increase of sintering during roasting."

Jan 1, 2016

By Michael J. Lawrence

"The VALMIN Code was developed and formally adopted by The Australasian Institute of Mining and Metallurgy (AusIMM) in 1995 and a revision was issued in 1998. The VALMIN Code applies to all relevant reports under the Australian Corporations Law, including submissions to the Australian Stock Exchange (ASX) and the Australian Securities and Investments Commission (ASIC).The VALMIN Code and Guidelines sets standards for the preparation and commissioning of independent assessment and/or valuation reports on mineral and petroleum assets or mineral and petroleum securities.It is mandatory for AusllvI:M's members to follow this Code in these relevant circumstances and failure to do so will result in serious sanction of the member by the Ausllvllvfs Ethics Committee. Public support for the use of this Code has been given by regulators (ASX/ASIC) and market participants ( eg major accountancy firms). It is also endorsed as a guide to general best practice in project assessment and valuation.This paper will discuss how the VALMIN Code has worked in practice over the past few years. It will also examine areas where the Code could be improved and how it could form the basis of a new Canadian Code for mineral property valuation."

Jan 1, 2003

By Robert T. McKnight

"Traditional techniques for valuing resource projects companies have been primarily based on discounted cashflow methods (DCF) or by comparison to similar projects with an apparent market capitalization. Many resource projects are really forms of options to invest rather than a future cashflow stream. Employing the DCF method to value a resource project which is really an option to invest, can dramatically underestimate the real value of the project. The analytical tools required to evaluate options, while more complicated than the usual spreadsheets used for DCF, are becoming more easily available and usable by managers. This paper will discuss the background of options valuation and some of the tools which will make it easier for managers to estimate the value of projects and companies which have significant real option values.ResumeBob McKnight is a graduate of the University of British Columbia in Geological Engineering, supplemented by an MBA from Simon Fraser University. Following several years in the oil patch with Cities Service and Brascan, Bob returned to Vancouver in 1979 to work for Wright Engineers. He subsequently went on to work for Cassiar Mining, Getty Resources and Endeavour Financial before joining Pincock Allen & Holt Ltd. in 1998. His experience ranges from exploration to feasibility studies, financial evaluations of mining and oil & gas projects, due diligence, project finance, valuations and mergers and acquisitions. He has extensive international mining experience pertaining to such countries as Chile, Mexico, Uruguay, Thailand, Indonesia, Angola, Papua New Guinea, Kazakhstan.What are Options?Options have been around for centuries. They were familiar to Roman and Phoenician traders who were shipping cargoes from Mediterranean seaports. In the financial world, options are types of contracts that generally include the right, but not the obligation, to buy or sell a share, currency or commodity. The underlying commodity price or share price changes are assumed to be lognormally distributed. In this context, options are of two general types, ""call"" options and ""put"" options. Call options have the characteristic of having the right to buy a tradable commodity or currency at a predetermined price for a specified period of time. For the owner of call options, they become more valuable as the price of the underlying commodity increases. For the seller of call options, these options become an increasing liability as commodity prices rise, since there is the obligation to sell the commodity at a predetermined (perhaps lower-than-market) price. This characteristic of call options recently became high profile with the sharp rise in gold prices last year. The value of gold call options sold by certain producers increased their associated liabilities to the point where margin calls were made."

Jan 1, 2003

By J. R. Kadambi, E. Kucukal, J. Furlan

"Hydrocyclones are used in various industrial applications, including mineral processing and tailings management, to separate or classify solid particles and/or liquid droplets from multiphase feed. The fluid flow in a hydrocyclone (used in mineral processing) was investigated numerically and experimentally using particle-image velocimetry (PIV) and refractive index matching techniques. Two turbulence models were used in the calculations: the k–? model and the Reynolds stress model. Particle image velocimetry measurements were taken at various spatial locations along the cyclone. Computational results were validated globally using pressure and flow-rate readings at the boundaries, and locally by comparing the PIV velocity-vector maps and profiles.RÉSUMÉ On utilise les hydrocyclones dans diverses applications industrielles, dont la minéralurgie et la gestion des résidus, pour séparer les particules solides et/ou les gouttelettes liquides de l’alimentation polyphasée, ou pour les classifier. Une étude numérique et expérimentale sur l’écoulement des fluides dans un hydrocyclone (dont on se sert en minéralurgie) a été menée à l’aide des techniques de vélocimétrie par images de particules (PIV, de l’anglais particle image velocimetry) et d’appariement des indices de réfraction. Deux modèles de turbulence ont été utilisés dans ces calculs, à savoir le modèle de turbulence k–? et le modèle aux tensions de Reynolds (RSM, de l’anglais Reynolds stress model). La valeur de la PIV a été mesurée à diverses positions spatiales le long du cyclone. Les résultats de ces calculs ont été validés globalement à l’aide de relevés des pressions et du coefficient d’écoulement d’une extrémité à l’autre de l’hydrocyclone, et localement à des coordonnées spatiales spécifiques en comparant les cartes et les profils du vecteur vitesse PIV."

Jan 1, 2017