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By R. D. Lawrence

"Suggestions have been made that the appraisal of mining assets using discounted cash flow techniques should be based solely on proven and probable reserves in reliance upon the widespread international recognition of uniform resource definitions. Following a review of general accepted valuation principles, a survey of the literature and, most importantly, a review of real transactions in the open market, it is clear that valuators should not be constrained by the growing acceptance of modern mineral resource codes. On the contrary, valuation practitioners should be encouraged to examine all classes of mineralization and, after making due allowance for risk, to utilize all mineral resources as a basis for determining fair market value.INTRODUCTIONGreat strides have been made recently in achieving an international consensus on mineral reserve and resource definitions and classifications. The Australasian JORC code, the CIM code in Canada, the SME proposal in the United States and even a proposed code from the United Nations have all brought the objective within reach.Unfortunately, this success has led to another problem for mineral valuators. Certain securities regulators, tax collectors and their ilk have begun to expound on the opinion that discounted cash flow projections carried out to calculate net present values that would form the basis for a valuation determination should be based solely on proven and probable reserves. The author disagrees with this position. This paper examines the subject from four points of view:"

Jan 1, 2003

By C. T. Bischoff

Introduction Air conditioning is a term which has come into common use only during our generation. By definition, it means the positive and accurate control of temperature, humidity, movement, purity, and component constituents of the atmosphere within an enclosure. Claiming such results for Noranda's ventilation system, or for that of any other large mine, at present would be an idle boast. However, we are working toward that end with considerable success. Modern underground ventilation at Noranda dates back about six years. The later development of air conditioning is in its fourth season, but still in the experimental stage. Various ingenious methods have been devised to cool mines which, because of climatic or geological conditions or depth, are excessively warm. A few installations have been made to warm intake air during the winter months where this is necessary. However, the method currently in use at Noranda is unique in that it accomplishes both ends by one process. This method utilizes the freezing and melting of ice to equalize year-round temperatures. Mining Methods While a discussion of mining methods at Noranda is not proposed in this paper, a brief summary may be in order. The Horne mine of Noranda Mines, Limited, has been developed by six shafts, four of which are now active. The most recent, an internal shaft, extends to 6,000 feet below surface, but all of the ore mined to date has come from above the 3,000-foot level. Figure 1 shows a model of principal ore bodies. The area mined is relatively small in plan, considering its vertical extent and the tonnage per vertical foot. Most of the ore lies within an ellipse about 600 by 1,000 feet. While this has certain advantages, the mining of such massive orebodies has presented many problems.

Jan 1, 1947

By Habib Zughbi, Paul Zulli

"A key step towards sustainability in iron and steelmaking is to optimise the use of raw materials and energy consumption, and consequently minimise CO2 emissions. Models based on a Process Integration (PI) approach play a key role in evaluating various scenarios and the impact of introducing changes in raw materials and operational conditions on the overall energy consumption and CO2 emissions. BlueScope uses a PI based comprehensive model for its Port Kembla Steelworks (PKSW), called the Integrated Steelworks Energy and Emissions Model (ISEEM). ISEEM is tightly coupled to the configuration of PKSW. It is based on mass and energy balances as well as thermodynamic relationships. ISEEM is a steady-state model and is used to predict overall and detailed unit-by-unit energy consumptions and CO2 emissions. It is also used for plant-based scenario modelling. This paper investigates the impact of major changes to PKSW configuration, including the shutting down of a blast furnace and cokemaking battery, on the energy consumption and CO2 emissions of the plant. It discusses some of the issues involved in updating the model and some identified opportunities."

Jan 1, 2015

By Eldridge Haynes

IF you ask the average American to define 'total war' he is apt to fumble for an answer. But in Britain everyone knows the answer, because Britain has mobilized its total labour force, including women. If we were to match, proportionately to our population, Britain's mobilization of labour, we should have 60,000,000 people working full time in the armed services, civilian defence, and war industries. Actually we have fewer than 35,000,000 so employed. In Britain two out of every three persons between the ages of fourteen and sixty-five are so engaged. For the first time in the history of any democracy Britain conscripts women for service in the army, navy, and air force. Two hundred thousand British women have been conscripted for the army, known as ATS, meaning Auxiliary Territorial Service. There are more women in the air force than the total personnel of the RAF at the outbreak of the war and almost all of the land base jobs of the British navy are now handled by women. In addition to cooking and office work, Britain's women soldiers and sailors are driving trucks and motorcycles, repairing motor vehicles, packing and repacking parachutes, installing, inspecting, and maintaining gun equipment and ammunition of combat planes after each raid, raising and lowering barrage balloons, forecasting weather, manning harbour craft, sending and receiving radio messages. A normal ack-ack unit is composed of 229 women and 189 men. The women man the gun height finders and predictors, give bearings, and signal to fire.

Jan 1, 1942

By W. C. Risley

IN the year 1933, workings at the No. 12 colliery, New Waterford, of the Dominion Coal Company, Limited, had advanced to a point where additional ventilation would soon be required. Furthermore, development of the mine was being .made to practically double the output of coal. Consequently, authorization was given to sink a shaft to the workings. The location selected is on the west side of the mine, about one and a half miles from the slope mouth and on the Low Point shore, some 250 feet from high-water mark. The cliff at this point is 40 feet high, with the land rising on a slope of about 5 per cent to the shaft. Figure 1 shows the location with reference to the colliery workings. The strata through which the shaft was to be sunk were pretty well known from diamond-drill borings previously made, and it was believed that water would be encountered to a depth of at least 250 feet to 300 feet. It was planned, therefore, to seal-off the water by the pumping of cement grout under high pressure. This method was considered to be the most economical means of handling the water during sinking, and would also result in a permanently dry shaft. Figure 2 shows a cross-section of the strata. The permanent shaft hoist and fan were to be electrically driven, which would necessitate the construction of a transmission line between the colliery and the shaft; therefore, it was arranged that the sinking equipment would have electric drive. As all equipment, materials used in construction, and supplies were to be hauled by truck, a roadway 1,800 feet long was required from the main highway to the site, and as heavy loads would be hauled during the fall, winter, and succeeding spring, this road was ballasted with 18 inches of clinkered material obtained from a burned culm bank one and a half miles distant. Actual field work was begun by the Company's own forces early in October. Work preparatory to sinking-in addition to the roadway and trans-mission line-included the construction of the reinforced-concrete shaft collar and fan drift connection; the permanent timber headframe (which was to be used also as the sinking headframe); the permanent reinforced-concrete building to house the shaft hoist and fan drive; and the erection of temporary buildings and installation of all equipment for sinking and lining the shaft and for cementation.

Jan 1, 1936

By C. F. Gleeson

"Geochemical stream-sediment reconnaissance can be a useful exploration tool from the point of view of rapidly and cheaply evaluating the mineral potential of an area. This is particularly true of rugged and mountainous areas such as are found in Gaspé. For the past two years, SOQUEM has been carrying out such surveys over favorable geological regions in the Appalachians of northern New Brunswick and Gaspe. To date, about 4,000 square miles of terrain has been systematically covered by reconnaissance geochemistry. Jeeps have been used as a means of transportation in the easily accessible areas and a helicopter equipped with a winch has been used to lower crews into the more difficult-to-reach regions. Such surveys have been successful in finding metallic mineralization which otherwise might not have been detected.Electronic computation of analytical information has been used to construct regional metal maps, rolling mean maps and residual metal maps. These maps have helped in evaluating anomalies, in relating the regional geo-chemistry to the regional geology and in comparing the distribution patterns of metals. To date, some 30,000 stream-sediment samples have been collected from the Gaspe region and analyzed for Cu, Pb, Zn and Mn. These analyses are being subjected to computer analysis."

Jan 1, 1969

By Mike Dry, Rod Dry

If humanity is truly serious about reducing emissions of carbon dioxide into the atmosphere, today’s power plants burning fossil fuels will have to be replaced by power plants that do not emit CO₂. Unless carbon capture/sequestration becomes practical, the new power plants will be hydroelectric, wind, solar or nuclear installations. Hydroelectricity requires the appropriate geography. Solar installations can only deliver power as and when sunshine is available, and wind installations when the wind blows. Therefore, power from these sources will be intermittent, but the demand for electricity does not follow the patterns of sun and wind. That will require large-scale electricity storage and/or load following by the remaining power suppliers, increasingly so as the use of fossil fuelled power generation declines. Modern nuclear power plants are designed for demand following. However, operating at lower than design output has a negative impact on the economics of nuclear power plants because the overall cost of the electricity they generate is dominated by capital cost. Primary (blast furnace) iron smelting is responsible for a significant part of global CO₂ emissions because the reagent used is carbon. Were it available in sufficient quantity (and at a low enough cost), hydrogen could replace carbon in the manufacture of raw direct reduced iron (DRI), using technology such as modified HYL (Tenova Hyl, 2018) or Midrex (Ravenscroft, 2017). This paper examines a scenario in which, instead of demand following, nuclear power stations are operated at their design capacities and surplus power is used to generate hydrogen in off-peak periods. This hydrogen is then used to replace carbon in the manufacture of raw steel.

Jan 1, 2020

By Karl J. C. Harries

"12.1. NO DEPRECIATION/GAAPAll calculations and computations relating to the Royalty shall be carried out in accordance with generally accepted accounting principles consistently applied to the extent that such principles are not inconsistent with the provisions of this Schedule and the agreement attached hereto, it being specifically agreed that nothing herein contained shall permit, or be construed to permit, the Operator to deduct any amount for depletion, depreciation, amortization or any deduction that represents a non-cash outlay.Comment: In cases like net profit royalties where recoupment of prior expenditures is permitted, care should be taken to avoid any implication that depreciation may also be taken. It is only logical and equitable that Property Owners should not be permitted an apparent ability to “double dip” with respect to deductions. A provision like this example should accomplish the task. It will be noted that the example specifically contemplates that the negotiated arrangements will prevail over any requirements of GAAP. Accordingly, if the parties agree to an unusual formula for recoupment, it will not be set aside to accommodate GAAP requirements. Under GAAP, revenues and expenditures are accounted for on an accrual basis. In addition, it specifically prohibits the taking of non-cash deductions, which is in keeping with the concept of recoupment.Although in some ways the example states the obvious and could be considered redundant, its presence, especially in provisions contemplating recoupment, makes it clear to the financial people that there may well be some variations from normal practices dictated by GAAP, while at the same time confirming the availability of GAAP to fill any voids.The accounting profession often makes the caveat that application of GAAP is an “art”, not a “science”. GAAP do not provide a cure-all and can create problems that will have to be addressed. For example, GAAP contemplate that asset costs are to be reduced by investment tax credits, which can cause a problem for a payor with more than one mine."

Jan 1, 2003

By Anton Gronningsater

AS we know, Sir Henry Bessemer introduced Bessemer converting in the steel industry about 1855. It was not until twenty years later that the principles were adopted by non-ferrous metallurgists. In 1880, Manés first produced blister copper from matte in a converter, a very important forward step in copper metallurgy. For thirty years, up to about 1910, bessemerizing of copper matte was carried out in the acid-lined converter. It is not necessary here to enumerate all the shortcomings of that operation, one of which was that it strictly limited the grade of matte that could be treated; a 35 per cent matte was low in those days. From the early days of copper converting, many and repeated attempts were made to use a basic converter lining, and the older metallurgists will remember the numerous reports and discussions in connection with such experiments. These make interesting reading. I quote from a book published in 1900: ?'The siliceous lining is as much a part of the process of copper converting as magnesia lining is in the basic bessemer treatment of phosphoric iron, and it is suicidal to attempt any other kind of lining, either water-jacketed or basic.' "Even if the silica could be introduced in this way (through the tuyeres), it would still produce another trouble in the converter. The small particles of silica, being cold, would combine very imperfectly with the iron oxide and produce granulated and pasty slags, which could not be skimmed or poured out of the vessel".

Jan 1, 1942

By Francis Gray

Mr. F. W. Gray: It is not my intention to read my paper as it is too long, so I will touch only on the high lights. The Sydney field is the most favourable example of undersea coal mining that exists, and I have not been able to find anything like it elsewhere. The nearest approach to it is a field in England where the Whitehaven collieries are operating, but it has a lot of faults. The net result of these faults so far met with in the seaward advance of the workings has been to increase, by something over 100 feet, the gain in depth of cover, in a distance of approximately three and three-quarter miles. In the Sydney field there are no faults of any consequence. On the east side, the English measures rise. In Australia the sea bottom fell and the cover became too light. On Vancouver Island the coal ran out, and in Japan the seams are steep and contorted. The Chilian fields resemble our own to some extent. An inundation of two collieries took place there some time ago, due, it is said, to the rise workings being allowed to approach the sea bottom too closely in the vicinity of a fault. The Cape Breton undersea field has been proved over a frontage of about thirty miles and has been attacked and penetrated for a considerable distance along that front. We have passed the prospecting stage and now generally use developed land areas as points of attack to win the undersea coal. Of our mining under the sea, it can be said that, with the exception of No. 1-B and Princess colliery, Sydney Mines, no real attempt has been made to win the undersea coal.

Jan 1, 1927

By J. A. Allan

OCCURRENCES of salt in Alberta have been mentioned and described by the writer in 1929 (l) and by Cole in 1930 (2). Brine springs occur at a number of places along the valley of Athabaska river north of latitude 56 degrees, and also on the south margin of Salt prairie, twenty-five miles west of Fitzgerald in the vicinity of the 60th parallel of latitude, which is the boundary between Alberta and the Northwest Territories. These salt springs were visited by Sir James Richardson in 1820, and in the same year D. W. Harmon stated that " ... clown Salt river there are several places where almost any quantity of excellent dean white salt may be taken with as much ease as sand along the seashore" (3). One hundred years later, in 1920, when the writer first visited these springs, the "dean white salt" which had accumulated about the springs was about 400 tons ( 4). This paper deals with a thick deposit of rock-salt which has been proved by drilling in the vicinity of McMurray. Particular attention will be given to a well drilled at Waterways early in 1936 by Industrial Minerals, Limited, when a continuous bed of rock-salt was penetrated with a thickness of 199 feet. As this paper is being presented, a salt plant is being completed and a production well is being drilled at the plant. < is salt deposit is in the vicinity of McMurray, close to the junction of the Clearwater and Athabaska rivets, in township 89, range 9, west of the 4th meridian. McMurray is about 240 miles northeast from Edmonton. As shown on Figure 1, Clearwater river, which rises at Methy portage, in Saskatchewan, enters Athabaska river at McMurray. Some three miles above the mouth of Clearwater river, the Hangingstone enters from the southwest. Waterways, where the latest salt development has taken place, is situated at the end of the Northern Alberta railway, a distance of 304 miles from Edmonton. This railway reaches the bottom of the Clearwater valley at Draper station, about 3 miles east of Waterways and near the mouth of Deep creek. The Draper bituminous sand plant is approximately half a mile east of Draper station. About one mile south of the townsite of McMurray, Horse river enters the Athabaska from the east.

Jan 1, 1937

By R. H. Watson

A paper read by J. A. H. Church before the Northern Alberta Branch last February described a method of working thick inclined coal-seams from the dip upwards, with the view to preventing fire risk by using water for the stowage of waste workings, and extinguishing a conflagration should such break out, was favorably received; but there was some doubt as to the cost of such a method, as it involves a retreating system, which might prove too expensive for practical adoption. Let us consider a typical leasehold such as we are familiar with in the Rocky Mountains. The leasehold is crossed at one end by a mountain river, which is cut by the outcrop of a seam of coal, 30 feet in thickness, pitching as shown on the drawing herewith, which also shows the general line of the outcrop in elevation through the leasehold, which is two and a half miles long and contains 1,500 acres. The average lift is about 600 feet above river level and drilling has proved that the coalseam can be tapped at a depth of 1,500 feet, 2,000 feet down the pitch from the outcrop in the river, all as shown in the illustration, which is typical enough of our mountain conditions to serve the purposes of comparison of methods. We take up the leasehold and invest $30,000 to pay for drilling and prospecting; $30,000 more for the price of the lease to locator or holder, and say $100,000 to pay for a railway spur (it might cost twice this sum, but we are only comparing two methods in the same location) and "now we are ready to consider equipment and the cost of development.

Jan 1, 1924

By W. L. Sherwood

Present conventional techniques for primary steelmaking in both integrated and non-integrated plants are outlined. 'Direct reduction' alternatives are reviewed and categorized according to the nature of the product produced, with particular emphasis on the limited number designed to yield steel as the end product. A proposed new technique, referred to as the Sherwood Process, is described in some detail as a new combination of selected features from the prior technology. This process is in-tended to realize, in integrated operations, the result of continuons steelmaking directly from the ore in a single plant and, in non-integrated operations, continuons steel-making from a metallic charge of scrap, sponge iron or pig iron. Prominent features are continuons processing in elongated, horizontal, rotary furnace equipment, controlled direct heating of each process stage and, for the over-all integrated process, a size separation for removal of excess solid reductant and other waste just prior to the melting step. Material and energy balances are presented as well as exemplary cost data. Reasons for selecting this particular combination of process elements are dis-cussed.

Jan 1, 1968

By G. B. Harris, C. W. White

Cyanide has been used for the recovery of gold since the mid 1800s, but several jurisdictions have already banned its use, and environmental pressures are increasing to finding an alternative. Gold also forms chloride complexes similar to those of cyanide, but the use of chloride has never achieved widespread acceptance. This paper describes a chloride-based flowsheet, wherein the key unit process is the recovery and recycle of chloride ion. It is shown that the chloride-based flowsheet is competitive economically with the conventional cyanide-based flowsheets, and that it has a number of other advantages, particularly environmentally.

Jan 1, 2011

By Edward S. Bell, Frank Angebrandt

"Nuclear reactors must have very large heat outputs to compete with conventional sources and the only feasible applications are in the production of electric power or large quantities of process steam. This paper considers alternative fuels for electric power generation in Canada. In a publicly owned utility, nuclear stations are economic for base-load generation for unit sizes of 500 mega• watts or larger where competitive fossil fuel costs are higher than about 30 cents per million Btu. In British Columbia, Alberta and Saskatchewan, fossil fuels will continue to be in adequate supply at costs lower than 30 cents per million Btu and thus, except for the special case of Vancouver Island, power generation in Western Canada will continue to be the hydraulic and conventional thermal type. In Eastern Canada, fossil fuel prices are likely to be higher than 30 cents per million Btu and most utilities will be able to install units of 500 mw or larger, so that nuclear power plants will provide much of the base-load generation required. Base-load generation comprises about two-thirds of the energy generated by power utilities. By 1990, the total annual electrical energy load will be over 600 billion kwh, with two-thirds of this load in Eastern Canada. Allowing for additional hydraulic resources which may be developed in Quebec, British Columbia and Manitoba, hydraulic generation is forecast to provide a little more than a third of this electrical energy, nuclear generation a third and fossil-fuelled generation about a quarter."

Jan 1, 1969

By R. Fukuzawa

"The objective of this research is to evaluate the magnitude of carbon prices required to drive process development and innovation for the global nickel industry in a direction that tackles the multifaceted sustainability challenges that the industry faces, including air pollution reduction and greenhouse gas abatement. The results suggest that the currently considered carbon prices are not sufficient to drive innovations in processing methods or upstream pollution prevention. The co-benefits of climate change mitigation and pollution prevention cannot be readily realized under climate change policy alone. Increased coordination between climate change policy and performance-based environmental legislation is necessary. INTRODUCTIONNickel is an important metal in our modern society as it is used in stainless steel, alloys, electroplating and rechargeable batteries, all of which are integral to our economic growth and development (Eckelman, 2010).However, nickel production is energy intensive and therefore susceptible to emerging climate change policies, which may lead to production curtailment and/or increased unit costs of production unless changes in efficiency or energy sources are made (Mudd, 2010). The industry is faced with multi-faceted constraints: future technology must not only deal with metallurgical, financial and environmental constraints but also promote low energy and low carbon practices. This presents a challenge for this industry where technology innovation, development and commercialization are often lengthy, risky and costly processes (Imrie, 2006).Climate change is one of the many challenges faced by our society. Others include other pollution to air, water and land, resources shortage and economic development. From a policy perspective, it is important to balance multiple and often competing needs in an integrated manner. It would require some levels of trade-off in order to maximize the overall effectiveness but also to ensure that one policy does not undermine other policy objectives.The aims of this study are to evaluate how developments in climate change policy would affect the nickel industry in the context of existing environmental regulations and how the industry could respond under these constraints."

Jan 1, 2012

By Arthur D. FitzGerald

EDC established an Environmental Review Framework in 1999. Throughout the early fall of 2001, the Corporation held public consultations across Canada to strengthen that framework, leading to a public release on November 15, 2001 of a report summarising the results of these consultations. Following this, the Corporation implemented strengthened environmental review requirements in the form of its Environmental Review Directive, in compliance with legislated amendments to Canada?s Export Development Act that went into effect on December 21, 2001. Over the past few years, there has been a global trend towards an increase in the social and environmental requirements of multilateral/bilateral financial institutions and export credit agencies. More recently, this activity has focussed on capturing institutions that have not yet adopted similar requirements and, more specifically, on developing a convergence of the requirements from institution to institution. This paper describes EDC?s new ERD and some of the initiatives that have taken place or are in process that are moving international financial institutions toward converging their environmental and social requirements for projects in the private sector.

May 1, 2002

By Knud Sinding

Many industries have established their own systems for self-regulation. They often do so when companies operate in countries where financial, technical, environmental and social regulation is weak and when the industry is challenged by legitimacy issues related to behaviour in one of these areas. Mining is one industry that has progressed unevenly down the road of self-regulation in these areas. This paper examines how the development of self-regulation for mines and mining companies involves difficult questions of scope, rules, membership, assessment criteria and performance evaluation. Using a range of theoretical and empirical results from research on self-regulation, performance rating and corporate strategy, this paper analyses the strategic and operational issues related to the idea of self-regulation in the mining industry. The analysis indicates that while self-regulation may bring benefits to members, they are likely to take a long time coming; but when they do arrive they may be substantial. Using the fact that in relation to technical and financial issues the industry is quite experienced in self-regulation ? not least as it is more reluctant in areas such as environmental and social performance ? the case is made for a comprehensive and innovative approach, that draws on the areas where the industry is experienced and develops new institutional solutions in the areas where the industry is more reluctant.

Aug 1, 2013

By A. L. Irwin

THE problem of compensation for labour is probably the oldest and most complicated one in history. The wage that a man receives is possibly the most concrete thing he gets out of his job and, rightly or wrongly, is generally considered by him to be the most important item in connection with his daily work. How today workers in an equitable way has been the study of industrialists for many years, and a great number of ideas have been tried out in an effort to arrive at a reasonable solution of the question. The idea of establishing a measuring stick for various types of work has intrigued industrial management for a long time and, after considerable study, the principle of Job Evaluation has taken form unti1, at the present time, it is becoming increasingly useful to industry at large. Job evaluation is a plan which is used to determine the relative worth of occupations by means of arbitrary measuring scales. These scales are developed for individual industries and are generally &apos;tailor made&apos; for each particular case. There are as yet no absolute methods of measuring the work done by human beings and, as a result, one has to depend on comparative values to arrive at conclusions. However, job evaluation has provided us with a basis of negotiation for wage rates which is more satisfactory than mere guess work or persona! opinion. It supplies a common ground for discussion which is understandable by all taking part and ensures that thinking with regard to wage setting is carried out along standard lines.

Jan 1, 1943

By W J. Dyck

Past attempts to establish an integrated steel industry on the West Coast of Canada have been unsuccessful for at least three reasons: (a) insufficient reserves of a suit-able iron ore supply; (b) a relatively small local market for iron and steel; and (c) the non-availability of an economical process to produce primary iron on a small scale. Today, the reserves of economically mineable ore deposits are ample to support a steel production of 100,000 to 200,-000 tons per annum. The local market has increased so as to be able to absorb most of this capacity. With-in the next few years, a small integrated steel plant, including the "H-Iron" direct iron ore reduction process for electric furnace charge stock production, will be able to show a profitable operation. Introduction

Jan 1, 1963