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By John Starkey

"During the period June 2007 to March 2007, John Starkey of Starkey & Associates (Starkey) worked in Russia for High River Gold, supervising the engineering design work that was being done at the IRGIREDMET Research Institute, in Irkutsk Russia. The work entailed moving the Newmont No. 4 mill from Elko, Nevada to Berezitovy, a mine site north and west of the city of Skovorodino, in the Amur Region of Siberia. This was a grass roots project and required construction of all phases of the infrastructure and process facilities that are associated with a 5000 t/d open pit mine and CIP mill.During the course of this engineering design exercise, many aspects of doing business in Russia were encountered, with regard to laws, norms, and business practices. This paper discusses many of these findings. Also by living in Irkutsk, many observations on Russian life and social customs were made and these merit discussion from a general interest point of view.Prior to going to Russia, another engineering and ore testing firm (TOMS) had approached Starkey to find out if Starkey could assist them in upgrading their SAG ore testing procedures to Western standards in order to offer their clients turnkey projects, that included reliable SAG and AG grinding. TOMS was aware that Starkey had invented the SPI test but did not know that the SAGDesign test had by then been fully developed and was being offered commercially as the most accurate way in the world to design new grinding mills. They were also unaware that this new testing method had been patented by Outokumpu (now Outotec) and that this method allowed them access to a design method, through Starkey, that would lead to a manufacturer’s guarantee (by Outotec) of throughput and grind for any new semi-autogenous or autogenous grinding circuit, with or without ball mills.When Starkey started working at IRGIREDMET in June 2005, they also made a request to add a design method for SAG mills that would be considered acceptable to Western clients. From these requests, presentations were made in Russian to both institutes and each decided to join the SAGDesign Consulting Group as satellite members and buy a SAGDesign test mill to use with their Bond Ball Mill Work Index mills, to provide SAGDesign testing services. To complete the service, contracts have been put in place for Starkey to use these results to design new grinding equipment and to train engineers at TOMS and IRGIREDMET how to do this work.Starkey also undertook to train engineers at both labs to go into the field and to take the samples for SAGDesign testing programs. It is here where the SAGDesign testing service upgrades other grinding test programs because the samples to be used for design are professionally chosen, and the results will be much more likely to produce a satisfactory design. Starkey is a mining engineer and is uniquely qualified to do this task. This and the SAGDesign test are the key components that lead Outotec to offer a performance guarantee for mills designed by Starkey."

Jan 1, 2008

By Robert E. McIvor

"The design/optimization of the pump and cyclones to maximize grinding circuit efficiency first requires a concise understanding of, and clearly defined specifications for, desired grinding circuit performance. Subsequently, the pump and cyclone performances that provide the desired grinding circuit performance can be defined. Once the performance requirements of each process unit are determined, selection of physical equipment parameters that will deliver those performances can be carried out.The Functional Performance Equation shows that there are two distinct efficiencies in closed circuit ball milling. One of these, “Circuit Classification System Efficiency” (CSE), is the fraction of “coarse” material inside the ball mill upon which grinding energy is deliberately expended, versus the remaining fraction of “fines” or finished size material inside the mill, upon which grinding energy is wasted (on over-grinding). The role of the pump and cyclones is to maximize CSE, which is the desired grinding circuit performance. The obtainable target CSE for any given circuit can be estimated, for example, by referring to a plant data base of CSE’s. Design/optimization guidelines then allow us to specify the pump and cyclone performances that will achieve the target CSE.This paper outlines the step-by-step, systematic method of pump and cyclone selection which maximizes CSE. Numerous examples of its successful application are provided.THE FUNCTIONAL PERFORMANCE EQUATIONObservation of the feed and product size distributions going into and discharging from the mill in grinding circuits with low versus high circulating load ratios initially led to the definition of “Circuit Classification System Efficiency” (or CSE, McIvor, 1988a), and subsequently the discovery of the Functional Performance Equation (McIvor, 1988b; McIvor et al, 1992). The CSE is the fraction or percentage of “coarse” (usually in reference to the plus P80) size material inside the mill, versus “fines” or product size material finer than the circuit P80. It can be readily calculated by taking the average of the percentage of said coarse material in the mill feed and mill discharge streams. As this also represents the percentage of the mill energy expended on targeted, coarse size material, it is directly proportional to overall grinding circuit efficiency and production rate. This is all clearly expressed in the Functional Performance Equation for ball milling circuits, for which the derivation has often been presented (e.g. McIvor, 2006)."

Jan 1, 2011

By M. J. McLeod, S. Watters, G. G. Lutes, S. Castonguay

"Gold-bearing mineralization at Anomaly A occurs in polydeformed Ordovician turbidites of the Kendall Mountain Formation of the St. Croix belt in southwestern New Brunswick, and is hosted by WSWtrending, shallow-dipping, brittle-ductile high-strain zones associated with the latest stage of the second of four regional deformation events. Gold-bearing syn-deformational stockwork, massive, and multiply brecciated quartz-sulfide veined zones form irregular pods and sheets up to several meters thick, which contain arsenopyrite, pyrrhotite, pyrite, stibnite, and a variety of rare minerals that are gold-bearing. Mineralized zones are enveloped by locally auriferous, weakly to intensely altered wall rock. Vein paragenesis includes: (1) early (pre- to syn-D2) quartz-chlorite veins that are largely the product of migration of quartz by pressure solution; (2) crosscutting, multiphase, vuggy quartz-sulfide veins that contain most of the gold and are interpreted to be structurally controlled; (3) late, crosscutting, nondeformed, non-gold-bearing veins containing laumontite, chlorite, muscovite, quartz, fluorite, and base metal sulfides. Carbonate-poor alteration associated with zones of gold mineralization is lithology-specific, and appears to reflect overprinting of multiple events. Major elements removed during alteration include Si, Na, Mn, and Mg. The minor and trace elements removed include Co, Li, Sc, and possibly Sr, Ni, and Zn. Minor and trace elements added include Au, Ag, As, Sb, S, and possibly F, Cu, Pb, and Zr. On the basis of proximity, time constraints, and a similar ore mineral assemblage, gold mineralization at Anomaly A is interpreted to be a distal equivalent of the intrusion-related gold mineralization at the nearby Clarence Stream Main zone deposit. La minéralisation aurifère de l’Anomalie A se trouve dans des turbidites Ordoviciennes polydéformées de la Formation de Kendall Mountain, dans la ceinture de Ste-Croix du sud-ouest du Nouveau Brunswick, où elle est contenue dans des zones de déformation fragile-ductile à faible pendage de direction OSO associées au dernier stade du second de quatre épisodes de déformation régionale. Les zones aurifères syn-déformationelles se présentent en forme massive, de stockwork, ou de veines de quartz-sulfure bréchifiées à répétition formant des lentilles irrégulières et des couches de plusieurs mètres d’épaisseur contenant de l’arsénopyrite, de la pyrrhotite, de la pyrite, de la stibine, ainsi que divers minéraux aurifères rares. Les zones minéralisées sont entourées d’une enveloppe de roches faiblement à intensément altérées, localement aurifères. La paragénèse des veines comprend : (1) des veines précoces de quartz-chlorite (pré- à syn-D2) qui sont principalement le produit de la migration du quartz par solution-pression; (2) des veines polyphasées de quartz drusique et de sulfures contenant la plus grande partie de l’or, celles-ci sont considérées comme étant sujettes à un contrôle structural; (3) des veines tardives stériles, sécantes et non déformées contenant de la laumontite, de la chlorite, de la muscovite, du quartz, de la fluorite et des sulfures de métaux usuels. Les zones de minéralisation aurifère sont associées à une faible altération en carbonate contrôlée par la lithologie et semble résulter de la superposition d’événements multiples. Les éléments majeurs perdus durant l’altération sont le Si, le Na, le Mn et le Mg. Les éléments mineurs et traces perdus durant l’altération sont le Co, le Li, le Sc et possiblement le Sr, le Ni et le Zn. Les éléments mineurs et traces enrichis comprennent l’Au, l’Ag, l’As, le Sb, le S et possiblement le F, le Cu, le Pb et le Zr. Étant donné sa proximité géographique, les contraintes temporelles et les similitudes de leurs assemblages minéraux, la minéralisation aurifère de l’Anomalie A est interprétée comme un équivalent distal de la minéralisation aurifère associée aux intrusions du gisement avoisinant de la zone principale (Main"

Jan 1, 2008

By James Scott

Outline Deposit Overview and Brief History ?Geologic Setting ?Local Geology ?Petrography ?Geochemistry ?Mineralization ?Geochronology ?Conclusions Deposit Overview ?Porphyry Cu-Mo-Au ?Discovered 1957 (BIK Syndicate) ?Various programs, most significant: ?Hecla(1970s) ?Teck(Late 1970s Early 1980s) ?Copper Fox Metals (2005 -Ongoing ?optioned from TeckComincoin 2002) ?Measured and Indicated Resources: ?847Mt grading: ?0.292% Cu ?0.019% Mo ?0.202g/t Au ?1.796g/t Ag ?Total ~ 0.485 % Cu Eq.

May 1, 2006

By F. Lindroos

A cornerstone in the LKAB Green Pellet concept is to produce pellets with a small footprint in terms of energy con-sumption, CO2 emission and emission of other elements harmful to the environment, like dust, sulphur dioxides, nitrogen oxides, chloride and fluorine. The concept also encompasses our determination to make pellet products that contribute to low environmental impact and low energy consumption in our customer?s processes. The presentation will focus on the pelletizing process. It will describe both how we have attempted to decrease the generation of unwanted components in the process gas, and how we have tested or evaluated equipment for external gas cleaning. We will discuss and give examples from recent and on-going efforts and outline some of the future challenges we see, to meet our own environmental standards and also the tough demands imposed by EU and national legislation, while striving to boost production.

May 1, 2011

"Placer Dome Inc.'s Dome Mine is located in South Porcupine, Ontario and has been in production since 1910. In the past, the mill leach circuit was preceded by preaeration and primary filtration circuits. These circuits were operated to overcome the effects of pyrrhotite in the ore which reacts with cyanide to form cyanates and thiocyanates and also consumes oxygen.In early 1989, primary filters were by-passed for an extended period. Actual plant results showed no affect on gold recovery or cyanide consumption so the circuit was left off-line permanently with significant cost savings.In 1990 it was determined that considerable savings could be realized underground if backfill storage facilities were located in the mill. It was decided to convert the preaeration pachucas to backfill storage tanks on a trial basis. The trial proved successful with no effect on recovery or significant increase in reagent consumption occurring due to the elimination of the preaeration circuit. The converted pachucas worked well as backfill storage tanks.Modifications such as these have helped to keep the Dome's millings costs among the lowest of Canadian gold producers."

Jan 1, 1992

By R. H. Walton

"In recent years the recovery of copper from low grade oxide ores has received widespread attention. The cost of treating such ores using conventional technology, such as milling and flotation, is frequently prohibitively high and copper recovery is generally low. The introduction of heap leaching, solvent extraction (SX) and electrowinning (EW) has resulted in high recoveries, good copper cathode quality and low production costs. This technology has now been successfully applied on a worldwide basis.This paper reviews the various process and design options and gives approximate capital and operating costs for a 1.0% copper ore.INTRODUCTIONAs a result of the low copper prices that prevailed for much of the last two decades, aggressive attempts were made by the industry to cut operating costs. Under such circumstances heap leaching, solvent extraction and electrowinning, to recover low cost copper from oxide ores, has received particular attention and ultimately widespread acceptance.Low grade copper ore (typically containing less than 1.0% Cu), which could not be economically treated by other methods, is placed on heaps and leached with dilute solutions of sulphuric acid. The copper rich, pregnant solution, drains from the heap into a collecting pond and is pumped to a solvent extraction plant where it is purified and upgraded. The resulting solution, termed the pregnant electrolyte, passes to the electrowinning section where the copper is recovered as high grade cathodes and sulphuric acid is regenerated, (Figure 1).This paper specifically describes the processing of copper oxides. Other copper minerals such as chalcocite and chrysocolla are also leached by dilute solutions of sulphuric acid. In practice the oxide minerals are frequently associated to varying degrees with less easily leached sulphides, such as chalcopyrite. In some cases, once the oxidized capping of the ore body is removed, the oxides are totally replaced by more refractory sulphides. Under these circumstances the leaching recovery is significantly reduced. However the principles described here for solvent extraction and electrowinning are also applicable to solutions received from heaps containing sulphide minerals, which are leached more slowly and involve bacterially induced reactions."

Jan 1, 1990

By S. Rivard

"This paper demonstrates the selection of grinding circuit technology for a number of recent projects including discussion of the key drivers and the role of energy efficiency. Decreasing head grades combined with a strong and sustained increase in operating costs has forced miners to examine increased project size, increased equipment capacity and efficiency improvements in order to reduce their unit operating costs and improve overall project economics. Comminution energy consumption, safety and capital cost considerations play a critical role in the success of projects. This paper presents some key guidelines for a successful and cost effective comminution circuit design and includes a case study on three projects, outlining the issues and the drivers which led to the ultimate circuit selection and the critical role that energy efficiency played.IntroductionComminution circuits for minerals processing are selected based on their suitability and efficiency in reducing run-of-mine ore to the desired feed size for the downstream process. The input material (ore) properties and downstream process requirements are the key determinants and there are standard approaches for each circumstance.The minerals processing industry has been a fast adaptor of efficiency improvements based on increasing capacity of equipment (e.g. trucks, crushers, mills, pumps) but less successful in adapting radically new technologies that disrupt incumbent flowsheets or processes.The installed power of grinding mills has increased linearly over the past 25 years (Meka & Lane, 2010) and pumps and classification equipment have kept pace. The autogenous grinding (AG) and semi- autogenous grinding (SAG) mills displaced stage crushing as a dominant method of coarse rock breakage in many applications causing crusher manufactures to increase the capacity of cone crushers to meet the competitive demand.Examples of new comminution technology in the 20th and 21st centuries are the development and adoption of cyclone classification in the 1940s (Newtech, 2016), AG milling in the late 1950s, vertical grinding mills in the 1980s, high pressure grinding rolls (HPGRs) also in the 1980s and ultrafine milling technology in the 1990s (Meka & Lane, 2010)."

Jan 1, 2017

By Peter Wells, Adrian Sabau, Turgut Yalcin

"The nickel ores of Sudbury contain substantial amounts of the gangue mineral pyrrhotite (Fe7S&) which causes certain diflculties in the milling of these ores. This paper proposes a process called “magnetoflotation” as an effective means of dealing with pyrrhotite. The method reduces the pyrrhotite content of concentrates by applying a magneticjield on the path product as it leaves the flotation cell.Successful performance of magnetoflotation requires the optimization of several variables. In this study, three of the variables (air flowrate, collector concentration, pother concentration) were investigated by Box- Wilson experimental design, and others (magnet speed, grind size, pulp density, flotation time) were examined individually. The process was tested on a Falconbridge nickel ore, assaying 1.92% Ni, and under the best operating conditions, a concentrate was obtained with 13.56% Ni grade and 74.32% recovery in a single step. Further improvements to grade and recovery were possible by cleaning and scavenging. The same ore was also tested with conventional methods for comparison, and results indicated that magnetoflotation performed better.INTRODUCTION“Magnetoflotation” refers to the process of carrying out magnetic separation and flotation simultaneously within the same device, and is intended to prevent magnetic minerals from reporting to the froth products while non-magnetic minerals are being floated. Typical cases where this method might be beneficial include the processing of magnetite and nickel ores. Its use on magnetite ores has been reported elsewhere [Yalcin, 1992; Yalcin, 19931. This paper describes its application to nickel ores, more specifically to the nickel ore of Falconbridge Limited in Sudbury."

Jan 1, 1999

"This generic study has been developed in response to the frequently asked question, ""That is the best treatment route for refractory gold ore?"". The study has developed operating and capital costs for many potential treatment routes and they are presented here in a generic form. All costs are in relation to the value of 1.00 given to the base case, a 1000 mtpd bio-oxidation plant, operating at 25% solids and 72 hours residence time.There is unfortunately no simple answer to the above quest ions. The treatment of refractory ores is a complex subject, with many variables, such as mineralogy, chemistry, environment and tonnage. However this study does offer information and relative numbers that we believe will be of assistance to gold metallurgists in obtaining a ""first shot"" at estimating costs.Equally, this technology is a rapidly evolving one. As more plants are commissioned, and test programs completed, better data is constantly being generated. For a generic study of this type to remain useful it will need regular updating and adjustment."

Jan 1, 1989

By A. Takala, B Nielson, J. Schunicht

"Pre-concentration in minerals processing presents clear advantages in energy efficiency, water efficiency, reduction of consumables and minimization of capital and operating costs. Outotec’s sorting solutions are powered by Tomra Sorting in order to achieve pre-concentration of concentrator feed in a variety of mineral processing applications. Sensor based sorting combines advanced sensors with rapid computational evaluation and mechanical separation of valuable material from waste and/or gangue. Modern sensor based sorting machines typically use fine air jets to propel individual rocks, thus optimizing recovery and minimizing “mis-sorting”.Gold is generally present in such low concentrations that sensors suitable for ore sorting cannot directly detect it. Therefore, in order to sort gold ore, properties of associated host rock are used. Free and sulphidic gold is often hosted on the quartz-host rock contact zone. Laser scattering effect can be used to detect the surfaces of quartz and composite quartz-host rock particles for subsequent sorting with very high recovery of 95 to 99%. In addition, ore often preferentially fractures along the quartz-host rock contact zone in the crushing circuit. This behavior helps because it liberates more quartz for detection.The feasibility of sorting is investigated for four gold projects in Northern Europe with similar mineralogy. This includes geometallurgical evaluation, amenability testing, small scale “mini-bulk” factory testing in full scale sensor based sorting. The results of the various tests are presented and basic feasibility demonstrated with information on flow sheet development. In addition, the amenability process is evaluated and recommendations made for future projects."

Jan 1, 2017

By J. Allaire, P. N. Muteb

The Meadowbank mine is operated by Agnico-Eagle Mines Ltd. and is located in the Kivalliq District of Nunavut in northern Canada. The process plant operates presently at a throughput of 11,500 tpd with gold grade varying between 2.9 and 3.6 g/t. The ore supplied to the process plant come from two different open pits and it expected to come from a new open pit early 2014. The ore is mid-hard materials so the feed size ore have a bigger impact on the throughput. The average gold recovery is 94.0% with about 15-30% of gold recover from the gravity circuit. The Meadowbank mine commissioning started in February 2010 utilizing a flowsheet consisting of one stage of crushing followed by primary and secondary grinding. The commercial production began in March 2010. During the commissioning several difficulties were observed to reach the designed throughput of 8,500 tpd. It was evaluated to insert a second stage of crushing. The insertion of the secondary crushing have two objectives, first to reach easily the process plant design throughput as well as to evaluated the mill capacity increasing. The process plant team evaluated various expansion alternatives eventually deciding to install a secondary crusher, increased the SAG and Ball mills motors capacities and maintain the rest of the process unchanged. Early 2011, with the improvement in the gold markets, decision was made to install the secondary crusher between the primary crusher and the primary grinding. The process plant continued to operate on the initial design until early June 2011. This paper presents the SAG mill throughput increasing from the designed tonnage of 8,500 tpd to 2012 targeted tonnage of 11,500 tpd, secondary crusher commissioning and the difficulties to operate in Canada Artic (Nunavut).

Jan 1, 2013

By N. Shi, T. G. Joseph

The design of dippers for cable shovels has essentially remained unchanged for the last 100 years. In the past 10 years, shovel manufacturers have started taking another look at dipper design, resulting in changes that have borne models from major manufacturers that address some of the wear conditions and material retention problems that dominate maintenance and operational costs. However, with the exception of added lateral curvatures to the front and corners of the dipper, the geometry is essentially unchanged. This paper looks at the criteria that have resulted in the first new cutting dipper design in a century. The design is based on kinematic considerations, reflected in a revolutionary geometry that matches the range of motions of the shovel, designed to minimize wear, impact loading and power required to dig, thus maximizing productivity for a minimum energy requirement. The shape configuration is such that the weight of the dipper is reduced through wall thickness, enabling a larger capacity dipper to be conceived for the same shovel. Benefits are reflected in reduced operational and maintenance costs and increased productivity.

Jan 1, 2006

By W. R. Green, B. W. Barde

"Geological exploration involves the collection and analysis of a wide variety of information. A basic problem in interpretation is to determine the interrelationship s of the different data. A number of statistical methods can be applied to this problem, provided that subsets of data can be selected.We have recently developed a set of interactive computer programs which provide the cap ability to quickly examine a large set of data, and may be used by people with little previous computer experience. There are two main stages in using this system. First is selection of subsets of data , by applying various tests on the values of given items. This includes matching specific entries in descriptive fields, and minimum - maximum tests on numeric fields. The second stage is basic statistical analysis and data display , including histograms, 2-D scalier plots, probability (cumulative frequency) plots, and correlation matrices. All output can be viewed on a computer terminal, and important parameters changed to produce the most effective display for use in interpretation.This system has been applied to a number of different exploration problems. An example was the determination of the nature and extent of mineralization of a gold prospect in the Queen Charlotte Islands, from drill-hole data. With the aid of the computer programs , a mineralized zone was defined, and locations for further exploration identified."

Jan 1, 1984

By L. W. Hamel

"Two 35 foot diameter enviro clear thickeners were tested in series as CCD units from June until October, 1978. Up to shutdown in July, we ran with automatic bed level control via the level probes and underflow pinch valves. Despite extensive efforts, we were unable to eliminate the surges created between the units by the opening and closing of the pinch valves. Early in July, the best rake speed and gap setting were determined. After shutdown, the enviro clears were run by manually controlling the pinch valves. These efforts were successful.A few mechanical problems were encountered while operating the thickeners. New units should incorporate more support for the drive coupling and a rubber feed seal. A few modifications of the instrumentation control scheme will be required before the units can be fully automated. A less sophisticated automatic flocculant addition system will accomplish the desired results. Control of the underflow withdrawal via the pinch valve should be investigated further. Our best results were obtained by keeping the feed volume to the No. 1 enviro clear constant. Surges were controlled by opening or closing both underflow valves proportionately.Capacity of the enviro clears is dependent of many variables. The ore treated during the test program was much finer than that reported on in R & D Project Report 76-02. Conditions were never steady enough to determine best flocculant dosage or addition point(s). The lowest soluble losses were obtained at very high wash rates. The underflow densities drop but the soluble losses also drop. Regression equations were developed in order to assess the effect of the various parameters. Within the range studied, these equations will predict the performance of enviro clear thickeners as CCD units on Elliot Lake ores. Our results show that the enviro clear thickeners are a viable alternative to the conventional CCD thickener."

Jan 1, 1979

By Barara Rose

Presentation Outline ?Introduction of BMS ?Resource Integration Process ?Methodologies ?Tools ?Case Studies ?Zone 01 : 725 SOZ ?Zone 16/17 : 1000 NRP ?Conclusions

Oct 1, 2010

By D. Getzlaf

"Oilfield cementing has been utilized in the industry since the turn of the century. Originally, wells were shallow and criteria for well integrity were somewhat limited. Since that time, wells have stretched the envelope in depth, temperature, and pressure. Environmental regulations have also become more stringent, thus, the importance of hydraulic isolation between permeable zones, and between these zones and surface has become more and more important.Initially, oilfield cements were comprised predominantly of construction cement and very limited additives. As time progressed, additives were incorporated to control pumping time or placement time and little effort was placed on optimizing actual components within the cement chemistry. This paper presents issues and concerns created by adding just one new component to the fundamental chemistry of an oilfield cement."

Jan 1, 2004

By Jan E. Nesset

It is just over 100 years since the practice of blowing small bubbles into a mixture of ground ore and water revolutionized the mining industry, resulting in uneconomic deposits becoming highlyprofitable mines, along with the inevitable lawsuits over this new technology called froth flotation. To this day, the viability of many mining projects rests largely with the ability of flotation to effectively capture the valuable minerals and reject wastes. Remarkably, bubble behaviour in flotation has not been well understood until very recently with the advent of new sensor technologies that can be brought directly into the operating plants. This presentation will review the importance to the mining industry of understanding bubbles, highlight these new technologies and illustrate, with examples, how paying attention to your bubbles will pay off.

Jan 1, 2009

By Simon D. Handelsman

?Artisanalmining ?Application of human energy (e.g. pick & shovel) directly to produce minerals ?majority no technical skills and lack adequate working tools ?Small-scale mining ?Application of modern technology for limited scale mineral production Significance of ArtisanalMining ?15 million people in artisanaland small scale gold mining ?55 developing countries ?Use of mercury damages health of 100 million people

May 1, 2006

By Bruno Lemelin

Falconbridge Ltd Raglan Mine has been in production since 1998 and has produced annually some 900 000T of ore grading 3.1% nickel, 0.9% copper and 0.06% cobalt. The mine is located in Nunavik, Northern Quebec. The current mine life is estimated at approximately 20 years. Reserves are composed of numerous small ore bodies situated across a 65 km strike length. Planning the extraction of the ten small mineralized zones represents a great challenge to optimize. The overall objective is to maximize the company?s return on net assets. Actual planning uses computerized technology tools like Automod and Mine2-4D, and a conventional discounted cash flow method (DCF) of calculating net present value (NPV). The complex setting of Raglan could benefit from advance valuation techniques such as the real options method (RO). This paper will present the characteristics if the mines that make it a good candidate to use RO to gain further insight.

May 1, 2004