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By N. Ginouse, S. Reny

"In the mining industry time is critical as production depends on the speed of the mining cycle. During the mining process, the time required to re-open access for the next phase of an underground heading is a key point that strongly depends on the ability of the selected ground support technique to promptly ensure the safety of workers. Fiber reinforced dry-mix shotcrete has been proven to be an efficient and well adapted technique, able to produce a ground support material with the required energy absorption or flexural toughness in a single application phase. In this context, this paper demonstrates the possibility of significantly speeding up the mining process by using a new fiber reinforced dry-mix shotcrete. The new fiber reinforced dry-mix shotcrete is capable of developing flexural toughness in only 24 hours that is equivalent to what is typically achieved after 28 days using current fiber reinforced drymix shotcrete technology.INTRODUCTIONShotcrete is often used for ground support when using the drill and blast method or other tunnelling methods. But before re-opening access for the next phase of the underground heading, the applied shotcrete is required to reach a minimum compressive strength and in case of fiber reinforced shotcrete, a minimum flexural toughness (energy absorption) in order to ensure the safety of the workers going into the heading. Combined with bolts, the use of conventional fiber reinforced shotcrete becomes an interesting method for ground support as it is applied very soon after excavation and works to stabilize ground movements (Bernard E. S., 2009). In this case, the toughness development of fiber reinforced shotcrete becomes an important feature of the material when looking to speedup the mining cycle. However, early re-entry criteria in underground openings are difficult to ascertain as the load carrying capacity of fiber reinforced shotcrete is usually assessed after 7 or 28 days. For this reason, re-entry criteria varies from one mining area to another and are usually based on compressive strength requirements. For example, in northern Ontario, Canada, one of the current practices in the mining industry consists of allowing safe re-entry once fiber reinforced shotcrete has developed a compressive strength of higher than 4 MPa (Dufour, O’Donnell, & Ballou, 2003). Flexural toughness requirements on fiber reinforced shotcrete are also typically based on evaluation after 28 days."

Jan 1, 2015

By D. R. Nagaraj, Napoleon Tercero, Raymond Farinato

"Dialkyl dithiophosphinates are a unique class of collectors used in the flotation processing of Cu- Au, complex polymetallic, and precious metal ores. They are known to exhibit higher selectivity and flotation rates for Cu sulfides, galena, and precious metal values in the presence of other gangue sulfides, than the traditionally used collectors such as dialkyl dithiophosphates and xanthates. They also have an attractive HSE profile. Historically, for most reagents used in flotation, practical methods of chemical usage have preceded detailed scientific understanding of how they work; this applies also to dithiophosphinates. Recently, however, the research community has shown significant interest in this chemistry, and numerous studies have been conducted to understand the fundamentals of interactions of dithiophosphinates with several base metal sulfides and precious metals. A critical overview of fundamental studies, laboratory ore flotation, and plant practice of dithiophosphinates is given in this paper. The findings from these studies are rationalized by drawing on concepts and insights from coordination chemistry. A comparison between the interactions of dithiophosphinates and dithiophosphate analogues with various minerals and metals is also made throughout. We believe that such a critical analysis/overview will be invaluable in identifying gaps in knowledge regarding this important set of compounds, which in turn may provide a basis for the design of studies that can advance understanding of their flotation performance. INTRODUCTIONDialkyl dithiophosphinates are an important member of the class of thiophosphorus compounds that are widely used in flotation beneficiation of base metal sulfide and precious metals ores. Ore flotation studies and plant practice experience have demonstrated their unique properties compared to the traditionally used sulfide collectors such as dialkyl dithiophosphates (their closest analogues) and xanthates. The predominant dialkyl dithiophosphinate used in the industry today is sodium diisobutyl dithiophosphinate (a.k.a. DIBDTPi; AEROPHINE® 3418A1 introduced by American Cyanamid in the late 1970s; Figure 1). The widest application of AEROPHINE 3418A is found in complex polymetallic ores of Cu-Pb-Zn-Ag, Pb-Zn-Ag, and Cu-Zn where it has demonstrated improved recoveries (and flotation rates) of sulfide minerals of Cu, Pb and Ag and selectivity against sphalerite, iron sulfides, and penalty elements (Mingione, 1991). More recently, it has also been used as a collector in the processing of Cu, Cu-Ni, and Ni ores (Guitard et al., 2015) and Cu-Au ores (Dunne, 2005). In general, it is considered to possess the collecting power of xanthates together with the selectivity (against pyrite) of dithiophosphates (Hope et al., 2003a, 2003b), while requiring lower dosages than those reagents (Guitard et al., 2015). AEROPHINE® 3418A has also found an important place in several targeted formulations to improve flotation performance. Other benefits of this reagent include higher flotation rates, having a better HSE (health, safety and environmental) profile2 compared to xanthate, and exhibiting resistance to hydrolysis and oxidation (Guitard et al., 2015). Compared to diisobutyl dithiophosphate (DIBDTP), which is known to contribute significantly to frothing (often leading to over-frothing), AEROPHINE® 3418A is observed to be froth neutral (i.e. it does not alter the existing froth characteristics). As is the case for other flotation reagents, the design and application of AEROPHINE® 3418A has preceded understanding of its behavior at a fundamental level. Recently, there have been numerous fundamental and application studies designed to develop a better understanding of its interaction with sulfide minerals and precious metals. This should help in optimizing its application in flotation and provide a basis to better rationalize its unique selectivity and activity characteristics. Past studies on the interacti"

Jan 1, 2016

Several inorganic reagents and organic polymers were tested as depressants in the single mineral flotation of ultrafine iron oxide and hydroxylapatite with Dowfroth 250 as a frother. It was observed that the inorganic reagents and the low molecular weight polymers generally caused dispersion of the ultrafine particles, and consequently their recovery into froth products more or less equaled the recovery of water. On the other hand, the high molecular weight polymers caused different degrees of flocculation of the ultrafine particles, and their recoveries were much lower than the recovery of water. These observations pointed to a need to re-define flotation depressants in fine particle flotation. The traditional definition of a flotation depressant, i.e., to make particle surfaces hydrophilic by forming a hydrophilic film and/or by removing collector and activator coatings, is sufficient for relatively coarse particles. However, to prevent fine and ultrafine particles from floating, a successful depressant should not only make the particles hydrophilic, but also enlarge the particle sizes so that they do not enter the froth product by mechanical entrainment. Polymeric depressants are ideal for these purposes. The different schemes to use polymeric depressants in the selective flotation of fine and ultrafine particles were discussed These schemes involve the integration of the polymeric depressants into other size enlargement processes such as shear flocculation, oil agglomeration, etc., for hydrophobic particles.

Jan 1, 2004

By D. A. Trotter

"This paper traces the main advances in mine lighting from neolithic times to the 1960s. The earliest lights consisted of reeds or strips of wood soaked in grease. As man's knowledge increased, the oil lamp, the candle, kerosene, acetylene and finally electricity have allowed him to see where no natural light could penetrate. These advances in technology, however, did not come easily. Many false starts were made and great dedication was required by a few lighting pioneers to overcome the many technical difficulties that were encountered. The lighting of coal mines in particular caused unique problems, as there was the ever-present threat of methane explosions. Advances in mine lighting will continue, but these advances are only possible because men like Davy, Wolf, Marsuat and Edison paved the way.IntroductionMan's first efforts at mining consisted of merely picking rock off the surface of the earth. The sun was his only source of light. The early mines of the Neolithic age were simply vertical pits, 5 to 8 m deep. In order to follow an orebody, miners began to dig horizontally from the bottom of these pits, and as work progressed the need for additional light became apparent. With the discovery of the light-giving properties of fire, man was no longer dependent on natural light. Figure 1 gives an impression of the earliest artificial mine lighting used.Early Evidence of Mine LightingCarbonized residue from wood chips which had been inserted into rock cracks can be found in early Neolithic workings. The mines at Krzemionki Opatowski in Poland contain very narrow low tunnels that were lit in this fashion and were worked from 2300 to 1800 B. C. The wood had to burn downward to provide light and because wood burns poorly in this position, the chips were probably soaked in animal fat to make them burn more easily."

Jan 1, 1982

By B. Qiu

The large surface ground movements induced by underground mining could threaten the safety of the pipelines laid across the subsidence-prone area. Existing analytical methods for the stress analysis of buried pipeline over mine subsidence area were based on the assumption of ?thin? pipeline, which limited their applicability. This paper presents the improved model with the capability to determine the stress distribution of the ?thick? pipeline. The pipe-soil interaction in this model was also updated to adapt various pipe soil contact conditions. In addition, the time-dependent effects of dynamic subsidence effects were also added to the model. A case of protecting a long section of a buried large-diameter pipeline over two longwall panels in a shallow mine is shown. The stress distribution along the pipeline is determined and the overstressed sections are identified. A partial uncovering plan was developed based on the predicted stress and complicated terrain at the site.

Aug 1, 2013

By R. A. Crouse

The Tanco pegmatite at Bernie Lake, in the Lac du Bonnet mining district of southeastern Manitoba, is a unique deposit of Li, Rb, Cs and Ta, with substantial reserves of Be and several industrial minerals. This paper summarizes the present state of understanding the regional geology, structural setting, zoning, mineralogy and geochemistry of the pegmatite, and the mining and ore-processing methods used in its exploitation.

Jan 1, 1979

By Andrew Gillam

Outline of Presentation ? AMEC overview ? Benchmarked companies ? GRI 3.1 Guidelines ? Best practice examples ? Report content and boundary ? Strategy and profile ? Environmental ? Social GRI G3.1 ? Gold Standard for Reporting ? GRI ? Global Reporting Initiative ? 1997 outgrowth of Coalition for Environmentally Responsible Economies (CERES) and UN Development Program (UNDP) ? Official collaborating centre of UNDP and works in collaboration with UN Global Compact ? Coalition of companies, business organizations, accounting firms, CSR consulting firms and nogovernmental organizations (NGOs) ? Mission: develop and disseminate globally applicable Sustainability Reporting Guidelines ? Now de facto CSR reporting standard; appeal lies, in part, with supported flexibility in reporting approach and scope ? Latest generation G3.1 (March 2011); includes expanded guidance for reporting on human rights, local community impacts and gender

Aug 1, 2013

By Y. O. Fortier

"ForewordTHE Arctic Archipelago and northern Greenland contain an orogenic region that is as much as 300 miles wide and over 1,400 miles long. It occupies much of what was formerly classified with the Arctic Plains and grouped with other plains and lowlands of Canada as one main geological division. It is proposed that this folded region be designated the Innuitian Region and be recognized as one of the main geological divisions of Canada.Canada's main geological divisions (see Geological Survey of Canada, 1947) have been considered as consisting of a central shield, largely surrounded by plains that separate it from eastern and western mountains. The plains include the Interior Plains, the St. Lawrence Lowlands, the Arctic Plains or Low-lands, and the Hudson Bay Lowland, which is in the central part of the Shield. Plains and mountains are, strictly speaking, physiographic terms, but because mountains are generally folded regions and plains are generally made of undisturbed strata, such terms are useful vehicles to express the fundamental make-up of the land. Nevertheless, it is preferable to use the terms Appalachian and Cordilleran 'Regions' rather than 'Mountains', as those geological divisions are not exclusively made of mountains.Because of the lack of more definite information, the 'Arctic Plains' have included, in the past, regions with plateaux two to four thousand feet above the nearby sea, mountain ranges reaching approximately 10,000 feet above sea level, and regions of folded strata."

Jan 1, 1955

By M. Pearson, W. Bristowe, A. Hanson

"There's no such thing as quality assurance; only quality control ... by inspection. "(1) A common misunderstanding in the procurement and construction of custom designed, fabricated pressure vessels and piping systems is that quality assurance can be achieved by simply referencing codes, standards, ISO 9002, QMS or other such programs in the contract documents. In the authors' experience, nothing could be further from the truth, not detrimental to the performance of the equipment than the exclusion of inspection activities and reliance upon warranties and "fit-for-purpose" clauses. Likewise, the expectation that fabricators, suppliers, or third party inspectors can provide such assurances is also unrealistic where they have limited knowledge of the process, material selection criteria, or limited technical resources. The development and successful execution of a quality assurance program is a collaborative effort by engineers, designers, material suppliers, equipment fabricators, and field inspectors with the full understanding and support of the end user.This paper presents an outline of the quality control activities undertaken by the authors for several recently completed and on-going hydrometallurgical projects. The activities include: prequalification of fabricators and sub-vendors, shop audits, material validation testing, material source control and verification, positive material identification of weld metal overlay, specialised welding inspection, contamination control for titanium and titanium-clad fabrication, eddy current and mass spectrometer (helium) leak testing of shell-and-tube heat exchangers, hot cycle testing of titanium clad equipment, tolerance verification for refractory lined equipment, final inspection and cleaning.

Jan 1, 2004

By A. K. Watt

"The availability of fresh water to meet present and future needs in Ontario is of concern to an increasing number of people. Rain and snow are the source of our potable water and provide, on the average, some 180,-000 billion gallons of water annually. This amount is reduced to 94 billion gallons a day as a result of the evaporation and transpiration of water and our inability to construct the necessary reservoirs for capturing surplus stream flow.The water used for domestic, irrigation, public supply and industrial purposes amounts to some 7 billion gallons daily at present and will reach 21 billion gallons daily by the year 2000; however, only about one-fifth of the water used is actually consumed, and this, along with the possibilities of water re-use, improves the water supply picture still further.The need for adequate pollution control has accompanied industrial and urban expansion and is an important factor in the extent to which our surplus water is used. In the 10-year period since the formation of the Ontario Water Resources Commission, the cost of water and sewage works constructed in the Province has exceeded one billion dollars. A special effort is now being made to control the industrial pollution situation.Numerous federal and provincial agencies are engaged in hydrologie studies in the Province, providing in-formation of benefit to those involved with water resources management."

Jan 1, 1967

By F. M. Doyle, G. Sidhu, A. J. Dussault, A. Raygani

There is a growing demand for rare earth metals for use in high strength permanent magnets, most notably Nd2Fe14B. Rare earth metals are extremely reactive, with reduction potentials around -2.5V SHE, and are conventionally produced by molten salt electrolysis. The current work was done to investigate an earlier report of electrodeposition of a neodymium ferroalloy from aqueous solution, to determine whether this approach could be an environmentally and economically competitive commercial approach for producing feedstock for permanent magnets. Such a process would be analogous thermodynamically to the Castner- Kellner process, in which aqueous sodium chloride brine is electrolyzed in cells with mercury cathodes. Metallic sodium forms an alloy (amalgam) at the cathode, thereby lowering the activity of the metallic sodium significantly below unity and making the reduction potential of sodium significantly less negative than the standard reduction potential. Here we report the effects of Nd/Fe ratio in the electrolyte, current density, temperature and two different complexing agents, glycine and cysteine, on the composition and morphology of the electrodeposits, along with current efficiency. The energy needed to produce neodymium as Nd:Fe alloys by aqueous electrodeposition was compared with values estimated for production by molten salt electrolysis and the thermodynamic energy requirement.

Jan 1, 2014

By M. Dadvand, G. Kipuros, A. Dadvand

"The ability to codeposit fillers within a nickel matrix has led to the production of a new generation of cermet coatings with properties useful for various applications. Hexagonal boron nitride (hBN) is a ceramic-type particulate matter with thermal conductivity, thermal stability, inertness, and lubricity properties that allow it to be codeposited. In this paper, a method was developed for modifying hBN surfaces to allow them to be uniformly dispersed in water-based solutions such as an electroless nickel plating bath. hBN surface modification improved wear performance of the electroless plated cermet due to enhanced interaction between the particulate and nickel matrix. RÉSUMÉ La capacité à effectuer un dépôt simultané de charges dans une matrice nickel a abouti à la production d’une nouvelle génération de revêtements cermet (une combinaison de céramique et de métal) dotés de propriétés très utiles pour diverses applications. Le nitrure de bore hexagonal (h-BN) est une matière particulaire de type céramique utilisée pour ses excellentes conductivité et stabilité thermiques, son inertie ainsi que son caractère lubrifiant, qui permettent son dépôt simultané. Cet article explore une méthode mise au point pour modifier les surfaces du h-BN de manière à ce qu’elles se répandent uniformément dans des solutions aqueuses telles qu’un bain de dépôt autocatalytique de nickel. La modification des surfaces du h-BN a amélioré la résistance à l’usure du placage autocatalytique du cermet en raison d’une interaction accrue entre la matière particulaire et la matrice nickel.INTRODUCTION Electroless nickel alloy coatings can be used for many applications; however, the need for improved tribological properties such as higher wear resistance and better lubricity has increased interest in incorporating particulates (fillers) into the nickel matrix by codepositing the particulates with nickel during the plating process. The selection of the particulate type depends on the desired properties (Sahoo & Das, 2011; Sudagar, Lian, & Sha, 2013). In terms of tribological applications, electroless nickel-based composites are categorized mainly into lubricating and wear-resistant composite coatings depending on the type of particles incorporated. The electroless nickel-phosphorus (Ni-P) composite coatings are composed of codeposited solid lubricants such as polytetrafluoroethylene (PTFE), graphite, WS2, MoS2, and hexagonal boron nitride (hBN) and, compared to nanocomposite electroless Ni-P coatings, they demonstrate a lower coefficient of friction. On the other hand, the nickel-phosphorus wear-resistant composite coatings are composed of hard particles such as silicon carbide (SiC), aluminum oxide (Al2O3), boron carbide (B4C), silicon nitride (Si3N4), diamond, tungsten carbide (WC), and zirconium oxide (ZrO2) and, compared to nanocomposite electroless Ni-P coatings, they have higher hardness and better wear resistance (Sahoo & Das, 2011; Sudagar et al., 2013; Parucker, Klein, Binder, Ristow, & Binder, 2014; Chakarova, Georgieva, Petrova, Dobreva, & Stoychev, 2016)."

Jan 1, 2018

By A. -M. Lafront

The corrosion resistance of die-cast and freely-solidified and electromagnetically-stirred thixocast AZ91D alloy has been studied using electrochemical noise technique in a 0.05M NaCI solution at pH 6.1 and 25°C. Specimens polished at different depths were immersed for a period of 75 min in order to assess the influence of the microstructure on corrosion kinetics and morphology. At depths between 10 and 50 µm (skin), all specimens showed general non-uniform corrosion with the lowest corrosion resistance. Between 100 and 200 µmn (interior skin), the observed corrosion was accompanied by superficial undefined pits due to metastable pitting. The corrosion form for 100-200 µm gave the best corrosion resistance. Stable pitting corrosion was observed beyond 400 µm deep on the bulk specimens. The skin of all thixocast specimens prepared billets showed a more corroded surface than that of die-cast. The interior skin as well as the bulk specimens showed better performance than that of the die-cast specimens.

Jan 1, 2007

By J. R. Giegerich

Purpose It is the purpose of this paper to describe the application of underground conveyor systems to the transportation of ore in the Sullivan mine of The Consolidated Mining and Smelting Company of "Canada, Limited, at Kimberley, British Columbia. General Applications Conveying has been recognized as a means of underground transportation for a great number of years but only during the past fifteen to twenty years has there been any extended application of the method to underground metal-mine operations. Coal miners became conveyor conscious before metal miners. Probably one reason for this is the fact that there are more flat coal seams than flat orebodies. A second reason is that coal is light and is a less abrasive material than most metallic ores. The vast improvements made in belt construction during the past few years, together with improvements in mechanical conveyor equipment, have gone a long way in making this form of transportation attractive to the metal miner. In new mines being opened today, or in major extensions to older mines, the possibilities of conveyor transportation should receive serious consideration. There may not be any widespread application of the belt conveyor as a replacement for the conventional hoisting and locomotive haulage. Where there is an application, tl1e saving in cost can be appreciable and many operating ad-vantages gained because of ease in operation.

Jan 1, 1951

By Ju-hyung Ha

New automated curing system for mass concrete has been developed to improve the quality of concrete structure and to save construction time and cost. The principle of this system is the automated water circulation system of heated curing water. Applied curing water on the surface of mass concrete keeps the temperature difference between center and surface of the structure below the threshold of specification. Mock-up test and field application have been conducted to investigate the performance of this system. In the results, new automated curing system reduced the chance of thermal crack occurrence and improved quality of the concrete structure as well.

Aug 1, 2013

By L. E. Djingheuzian

ANON-CATARACTING (N-C) ball mill is so operated that the balls are not thrown in-ward at the top of their paths. The result is to maintain, in the mill, a quiescent pool in which classification will occur at a limiting size corresponding to the pulp density. N-C operation is produced by effecting proper relationship among mill speed, ball diameter, volume of ball load, and pulp density. Such operation is typified by the primary ball-mill operation of the Tennessee Copper Company, Copper-hill, Tenn., and the Cleveland Cliff Iron Company, near Ishpeming, Mich.

Jan 1, 1958

By S. A. Ghoreishi-Madiseh

Underground mines, with their relatively high ground temperature and their extensive backfilled stopes provide a great opportunity for producing geothermal heat. The novel idea of installing a network of heat exchange tubes into stopes prior to backfill placement converts each mine stope into a heat producing battery. In this system, backfill plays the role of the heat exchange medium conducting heat from the surrounding rockwalls to the heat exchange tubes. This geothermal heat can be used for heating: mine facilities and buildings, the intake air, a close-by mineral processing plant, or even nearby communities. This paper investigates the possibility of extracting renewable geothermal energy from backfilled mine stopes by means of closed-loop geothermal cycles. To simulate realistic operational conditions a heat transfer model is developed and solved numerically. To evaluate the numerical results, a small scale physical model is constructed and the experimental results are compared with the simulation results. The study estimates the sustainable rate at which heat can be extracted from a typical underground mine stope, the resulting outlet temperature and performance of the geothermal system. The results show that mine stopes are capable of sustainably producing geothermal heat not only when the mine is active, but also after the depletion of the ore body. Therefore, an underground mine will no longer be perceived as an enduring economic liability, but as a long-lasting source of clean, renewable, and inexpensive low-grade geothermal heat.

Aug 1, 2013

By Dave Ecobichon, Éric Côté, Simon Nickson, Michel Leclerc

The feasibility assessment of a mineral deposit requires the construction of a geo mechanical model of rock mass properties, for the purpose of preliminary mine design. The Noranda Technology Centre has been involved in the development of geomechanical models for several mineral deposits at the feasibility stage. Each model is constructed through intact rock testing, geotechnical core logging, geotechnical mapping and rock mass classification. Rock mechanics principles are used to develop conceptual stope designs and propose possible mining sequences. This methodology is applicable to both new mining projects and to the development of new areas within anoperating mine. This paper explains how the geomechanical model is developed and reviews its application to several case studies.

Jan 1, 1996

By Xiaoqiong Wang, Daobing Wang, Fanbao Meng, Jianbo Wang, Hongkui Ge

"Shale gas has become an important unconventional oil and gas resources. Its effective development relies on comprehensive and accurate understanding of shale gas reservoirs. Rock mechanical properties is one of the important components of reservoir evaluation. Two adjacent black shale samples, which are cored from the depth of 1145 meters in Chongqing, southwest China, are subjected to acoustic emission(AE) test under uniaxial stress and compared with coarse grained granite. The results of synchronous AE, stress-strain and ultrasonic velocity experiments show that shale has weak anisotropy. Compared with granite sample, two shale samples are similar, but their strength, velocity and brittleness are quite different, indicating that shale has strong microscopic heterogeneity. TOC, XRD, SEM microstructure analysis show that total organic content, mineral composition and natural fractures are the main impacting factors for mechanical heterogeneity. INTRODUCTIONShale gas is a typical low-grade marginal resource, which is characterized by ultra-low matrix permeability and small single well control volume. In order to enable commerical development, complex hydraulic-fracture networks must be created in the shale to allow gas to escape from the micro/nano-pores and natural fractures where it is trapped in the rock (C. Clark et al.,2013; Ge et al., 2013). The development of shale gas requires accurate evaluation methodologies to evaluate shale reservoir properties and predict production. (Jarvie et al., 2007). Rock mechanical properties are an important part of the reservoir evaluation. It is significant for efficient drilling, completion and hydraulic fracturing to understand mechanical behavior of shale gas play (John, 2011; Wei, 2013).Rock mechanical properties mainly include heterogeneity, anisotropy, brittleness and acoustic emission activity (Lockner et al., 1992; Jerome et al., 2009; He et al., 2010; Liang et al., 2012). Shale mechanical properties are evaluated from laboratory tests following a complex workflow that covers tasks from sampling to testing (Md. Aminul Islam et al., 2013). It is common to include various experimental methods such as stress-strain curves, ultrasonic velocity and acoustic emission when evaluating the mechanical properties (Rao et al., 2006). Because of the presence of organic-rich matter, mineral composition orientation and natural fractures, shale tends to have strong anisotropy and heterogeneity (Deng et al., 2004; Wang et al., 2013; Hathon et al., 2013)."

Jan 1, 2015

By William E. Roscoe

"Non-producing mineral properties include those at various stages of exploration, properties at the pre-feasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. The market approach is applicable to all these types of non-producing mineral properties. Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage, but may be applicable to non-producing mineral properties with defined mineral reserves or mineral resources.The value of a non-producing mineral property depends on its perceived potential for the existence and discovery of an economic mineral deposit. The potential, in turn, depends on a number of factors which must be considered when choosing market comparables. These comparability factors include such items as geology, mineralization, stage of exploration and results, mineral resources, location and geography, and political jurisdiction. The date of the market comparables must be within a reasonable time period of the valuation date of the subject property. Although it is difficult to find good market comparables because of the unique nature of mineral properties and the small number of transactions, these difficulties are compensated for by analyzing a number of transactions on similar properties to develop a range of values for the subject property.For valuation purposes, market comparables can be expressed in terms of total property value, value per unit area (e.g., $ per hectare), or value per unit of metal contained in mineral resources (e.g., $ per ounce of gold, or $ per pound of copper). The market comparable value can be used to estimate the value of the subject property by using the total property value, unit area value or contained metal value."

Jan 1, 2003