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By M. C. Ethier, A. L. Laramie

"The Granisle and Bell Copper mines were officially put into production in 1966 and 1972, respectively. The Granisle Mine was purchased in late 1979by Noranda and the two operations were amalgamated as one division. Both mines were closed in 1982after sustaining heavy financial losses during a period of low copper prices beginning in 1981.This paper describes the resumption of operations at the Bell Mine in 1985 after its shutdown period of three years and the dramatic and sustained improvements in productivity and efficiency realized as a result of a commitment by employees and management to the application of Participative Management and Employee Involvement principles. After a general description of the effects of such a philosophy on the operation as a whole, and a comparison to the operation's last full year as a producer, it deals with the practice of this philosophy in the maintenance department at the Bell Mine and the superb results realized.IntroductionThe Bell Copper deposit was discovered in 1963 and came onstream as a 10000 ton s per day open pit mine in the fall of 1972. Identified reserves at that time were 46 million tons of ore containing 0.50% copper. The mine shared facilities of the townsite of Granisle with the nearby Zapata-Granby mine which had established the community six years earlier.Because of easy grinding ore and improvements to milling circuits, Bell's throughput rate was increased to 17 000 tons per day by the late 1970s. In the open pit, improvements resulted in mining of additional reserves with higher stripping ratios. At startup, a half ton o f waste was mined for every ton of ore processed.By the end of 1982, with 48.2 million tons already mined, the Bell Mine had identified additional mineable reserves of 39.4 million tons containing 0.52% Cu.In November 1979 the Granisle Mine was purchased from Zapata-Granby. The two mines, with a total of 700 employees, were operated under common management as the Babine Division until 1982 when low copper price s forced the closure of both for an indefinite period.The outlook for copper prices remained bleak and only 50 people were retained on the payroll to maintain the two plants, most of them working on a part-time schedule.The population of the Village of Granisle dwindled from over 1500 inhabitants to under 500, as people moved away to seek other employment.Prior to the shutdown, the Bell Mine employed 370 people and pit extraction averaged nearly 50000 tons per day of which 16000 tons was mill feed, and the remainder waste. Total cost to produce a pound of copper was C$1.36 in 1982."

Jan 1, 1990

By David R. Lentz

At True Hill in southwestern New Brunswick, low-grade porphyry-style Bi-8n-Mo greisen mineralization is associated with the cupola of an epizonal granite porphyry (granite) that also exhibits three episodes of brecciation. The first episode of brecciation is an in situ, 8 m to 10 m wide transitional zone of net-veined to coarse-grained "blocky" endogranitic mesobreccia that is chloritized and greisenized and hosts weak disseminated minerali.zation. In a zone closer to the host rockgranite contact, angular fine- to coarse-grained endogranitic mesobreccia with greisenized matrix is superimposed on the earlier transitional breccia. The latest episode is fault-controlled and consists of quartz- and chalcedony-hosted sub-angular to rounded fine-grained "pebble" mesobreccias that crosscut and brecciate the other breccia types, as well as the adjacent altered metasedimentary country rocks. The first two episodes of brecciation are magmatic-hydrothermal in origin related to hydrofracturing of the granite carapace and are accompanied by greisenization and mineralization, whereas the post-mineralization, silica-hosted, "pebble" mesobreccias related to hydromagmatic, low-temperature fluid circulation and/or boiling along faults near the contact. These magrnatichydrothermal and hydromagrnatic mesobreccias are similar to those associated with W-Mo-Bi porphyry-greisen mineralization at the Mount Pleasant deposit.

Jan 1, 1994

By S. Koppalkar

ABSTRACT: The development and evolution of the gravity recoverable gold (GrG) test procedure at McGill university is reviewed in this paper. Since the late 1980s, the research group led by the late Professor André Robert Laplante at McGill university has undertaken fundamental studies and applied research of the Knelson concentrator to develop a sustainable method of estimating GrG. Historically, a concept of “free gold” was used, and it was de?ned as the gold that could be separated and recovered from gold ore by amalgamation. Due to health and safety hazards, the practical use of amalgamation has declined. around 1994, a methodology using a 3-in Knelson concentrator to measure gravity recoverable gold was established at McGill university. as a result of more than 10 years of improvement and optimization, this technique has become a standard method of evaluating GrG for gold ores, gold plant streams and platinum group metals. By 2006, about 200 GrG tests were carried out at McGill universityon ores from all over the world. recently, a modi?ed version of the GrG test (a simpli?ed test) was developed to provide a quick and rough estimate of the GrG in a sample; this simpli?ed test has theadvantage of reduced mass, processing time and cost. to recognize and honour the contributions madeby the late Professor Laplante towards the establishment of a standard test procedure for assessing gravity recovery potential, the authors propose that the GrG test be named after Laplante.

Jan 1, 2010

By Jiuhua Xu, Shuiku Jia, Weiren Sun

"The Jinqingding gold deposit, situated in the east Jiaodong Peninsula of Shandong province, is typical of the pyrite-quartz vein gold deposits in the Muping-Rushan gold belt of China. The gold deposit is controlled by a great NNE fracture zone and is composed of several lenticular orebodies within the fracture rone occurring in the Kunyushan granite massif. The Kunyushan granite massif was formed by the replacement of the Archean Jiaodong group.The main minerals associated with gold are pyrite, chalcopyrite, galena and sphalerite; the gangue minerals are dominated by quartz, sericite, microcline and calcite. The mineralizing event can be divided into four stages: (1) pyrite-quartz; (2) quartz-pyrite; (3) siderite-polymetallic sulfides; and (4) calcite-quartz. Gold occurs mainly as native gold and electrurn in stage I and stage II. There are some evident differences between pyrite from major stages of gold mineralization and that from minor stages; these include differences in crystal forms, size and composition of fluid inclusions.Wallrock alterations consist of sericitization, silicification, pyritization and potash-feldspar alteration. Five alteration zones can be distinguished from unaltered granite (zone 0) to vein lodes (zone IV). Au and Ag increase rapidly from zone 0 to rone IV, Cu increases continuously, while Pb and Zn increase slowly. R-type geological factor analysis indicates that the Au, Ag, Cu, Pb and Zn bear a close relationship to wallrock alteration."

Jan 1, 1994

HIGH LAKE PROPERTY --HISTORYHISTORY -19501950??s ??Kennarctic Exploration discovers Exploration sulphides (A/B & (D Zones) at High Lake during helicopter reconnaissance exploration program.- -1991 93 Aber signs agreement to earn in to the High Lake Property from Kennecott. 63 holes drilled, primarily testing the known deposits. -2001 Wolfden purchases 100% interest in High Lake from Kennecott and Aber -2002 Wolfden performs helicopter borne TEM Survey over the High Lake Greenstone Belt. -2003 West Zone was discovered following UTEM & Gravity Surveys (performed by Teck Cominco ) over an airborne anomaly approx. 1km west of the known deposits. -2004 Wolfden awarded Bill Dennis Prospector of the Year

May 1, 2006

By D. A. Beck

The load-deformation response of discontinuous rock under static and dynamic loading conditions has been simulated using Explicit Finite Element models. The intent of the analysis was to investigate the effects of specimen size and confining stress on strength, dilation and comminution. The simulations allow the development of homogenised constitutive material properties for discontinuous rock masses using laboratory scale measurements and representative Discrete Fracture Networks (DFNs). A procedure for this is presented which includes a comparison of measured seismic response in a mine to the Dissipated Plastic Energy (DPE) that is released in the simulated rock masses. The models also show how confinement and scale affect the stress-strain and DPE response of the simulated rock specimens, reproducing a number of known rock phenomena that are often poorly captured in geotechnical modelling. A case study is presented showing a satisfactory match between the model-derived, homogenised material properties and values achieved by calibration of a mine-scale model where many thousands of seismic, displacement and damage measurements were available.

May 1, 2009

By Gerald S. Cole

It used to be that a science/engineering presentation on "light weight" at a metallurgy conference, would relate to the materials science, processing, component fabrication and applications of aluminum, magnesium and titanium. Within the automotive industry, light weight now includes how to "lighten up", how to lightweight, or how to mass reduce vehicle components and systems. Increasingly stringent global emissions-reduction requirements require increasing vehicle fuel efficiency; mass reduction is an enabler to achieve this. While light metals certainly are the basis, a host of other materials can be used to optimize mass reduction while meeting vehicle performance, safety and cost requirements. New grades of ultrahigh strength steels and even nanosteels can be thinned down and save over 1/3 the mass vs conventional mild steels. A compacted graphite cast iron engine can be made lighter than an aluminum one. Aluminum components in vehicles were only castings; now aluminum stampings, forgings and extrusions are becoming more visible components of mass reduction. Lower mass high temperature polymers, and carbon fiber polymer composites now replace aluminum and steel. These materials often require specialized processing and manufacturing techniques to produce a component, including superplastically formed twin roll cast sheet aluminum and magnesium, and hot stamped/in-mold quenched steels. The assembly of hybrid structures requires unique joining/bonding, and corrosion-inhibiting techniques that might include sophisticated structural adhesives. This thinking "light" presentation, will conclude with a discussion of U.S. and Canadian government engineering and research support for mass reduction, including the proposed $148 M American Lightweight Materials Manufacturing Innovation Institute.

Jan 1, 2014

By Jose R. Hernandez-Aguilar

"This paper revisits data from previous studies (Hernandez-Aguilar, 2010, 2011) to better understand the link between metallurgical performance and bubble size (Db) in the collection (pulp) zone of full-scale flotation systems. To obtain conclusive evidence exclusively related to the collection zone, the experiments were designed in those studies to control both the bubble generation method and the influence of the froth zone on the overall metallurgical performance in industrial and pilot-scale flotation columns. The results showed that generating small (1 mm) bubbles had a significantly higher beneficial effect on the recovery of coarse (> 75 µm) particles compared to the effect on fine (< 16 µm) particles. It was observed that, under certain practical conditions, the recovery of liberated coarse particles was close to zero, but could be recovered almost completely by reducing bubble size. The evidence revealed an apparent inconsistency of the so-called “k–PSb” model: at constant froth recovery, increasing Sb did not always result in higher recovery, as the model predicts. Overall, the evidence showed that it was not the Sb but the bubble size that proved to be a more reliable link to metallurgical performance. Only under highly suboptimal bubble size conditions (Db = 3 mm) did the froth zone seem to play a role, possibly reflecting an effect of pulp-zone bubble size on froth stability. However, for the most part, both the bubble generation method and the froth zone played inconsequential roles. An empirical model that better describes the kinetics of particle collection is proposed.INTRODUCTIONStudies showing the link between metallurgical performance and the interactions of bubbles and particles in the collection (pulp) zone of industrial flotation systems are scarce. A common belief among a number of mineral processing practitioners considers that “small” bubbles are favourable to recover “small” particles and that, conversely, “larger” bubbles are more efficient at floating “coarse” particles. However, perceptions like this are often substantiated by anecdotal evidence rather than by rigorous data analysis. What is the optimum bubble size for a particular case, how operating conditions can be adjusted to control a target bubble size, and whether the bubble size needs to be changed in the first place to optimize the operation of a flotation plant are questions that usually remain without solid answers.The studies reported by Hernandez-Aguilar (2010, 2011) were, in part, performed to test the effect of bubble size on flotation response and, thus, help address some of the above questions. The focus of the studies was to optimize the metallurgical grade-recovery performance of the Cu-Mo separation plant at Teck’s Highland Valley Copper mine (HVC). The outcome was compelling and significantly valuable: consolidated production data showed that in 2008 – the year when the recommendations from the studies started to be implemented – the Mo plant recovery was 89%, and gradually increased to 92% and 94% in 2009 and 2010, respectively, along with an increase in Mo concentrate grade. (Note: these production figures were not included in the publications quoted above; however, they were shown during an oral presentation at the 43rd Annual Meeting of the Canadian Mineral Processors in 2011.)"

Jan 1, 2016

By J. F. Henderson

"IntroductionTHE National Advisory Committee on Research in the Geological Sciences was set up by the Privy Council of Canada in 1949. It was set up because you, the Geology Division of the Canadian Institute of Mining and Metallurgy, asked that it be set up. The Committee is, therefore, to a consider-able degree, your offspring. In the role of good parents you, of the Geological Division of the C.I.M., should be interested in the progress of your progeny. How is the Committee organized? What has it recommended? What has it accomplished? On behalf of the National Advisory Committee, that is what I want to tell you about this afternoon.HistoryYou will remember that, in 1946, the Geology Division of the C.I.M. set up a Committee on Geological Research. This Committee, under the Chairmanship of Dr. J. E. HAWLEY, found ""that there is no national organization interested in surveying, co-ordinating, and implementing with financial help, fundamental and much needed geological research. Accordingly, the first and most necessary step to put the geological sciences in Canada on a proper footing .is the recommendation that a National Advisory Committee on Research in the Geological Sciences be formed"" (l).This recommendation was endorsed •by the President and Council of the C.I.M. in 1947 and submitted to the Minister of Mines and Resources."

Jan 1, 1952

By C. I. Walker

Field tests at a number of large mineral processing operations have been undertaken to better understand the wear life impact of different aspects of pump design, materials of construction and maintenance procedures. Data are presented for wear rates, and typical result variability is explored. To improve the availability of pumping equipment in a milling circuit it is not only important to improve the wear life, but also reduce the variability in the wear life of components so that the incidence of premature failure is lessened. Localised gouging wear due to flow separation and turbulent eddy formation is often the point at which part-holing occurs. A number of improvements to the design of pump impeller and throatbush (suction side liners) to reduce the localised gouging wear are outlined. Also, results are presented on the use of composite materials (mix of metal, rubber and ceramic) for throatbush materials to protect specific areas against wear.

Jan 1, 2012

By L. Szecowka, M. Poskart, Siwka M. . J.

Oxides of nitrogen, created during combustion, are the most hazardous components of atmospheric pollution. However, it is possible to limit the negative influence of hazardous components on the natural environment. An experimental appartatus was built to determine the influence of the following "primary methods" on the reduction in concentration of NOx: air staging, reburning and flue gas recirculation. The influence of the simultaneous usage of the primary methods on reduction in NOx emissions was also examined. A significant increase in the efficiency of NOx reduction was achieved in two cases.

Jan 1, 2004

By David L. Anderson

This paper explores the financial impact of the initial version of the Saskatchewan Potash Reserve Tax; first, a one; and second, in conjunction with the other taxes affecting the industry&apos;s profitability. A though the introduction of the Reserve Tax is shown to lead to a substantia increase in a hypothetical firm&apos;s effective tax burden, the more unusual outcomes frequently attributed to this levy on y occur after the imposition of other non-provincial tax rulings. Despite this qualification, the results obtained suggest that the Reserve Tax undoubted y acted as a catalyst in the polarization of attitudes during the ear y period of industry/government confrontation

Jan 1, 1979

By G. D. Just

"Extensive mechanization of underground mining operations, improvements in blasting technology and the development of simulation models for systems evaluation has now made it feasible to optimize rock fragmentation and materials handling operations. Methods of achieving these objectives are described in this paper, with particular emphasis on the need to obtain precise field data measurements. Techniques are illustrated with reference to the sub-level open stoping system of mine production. IntroductionThe primary objective to be achieved in any mining system is to deliver a specified grade of ore to the mineral processing plant at a planned delivery rate and at the minimum total mining cost. Design and management of such a system is complicated by the large number of unit operations and the often unknown inter- relationships between the different unit processes. This particularly applies in underground mines, where planning restrictions and unit costs are much greater than in comparable tonnage sur face mining operations. These difficulties can often be resolved by the application of judgment based on extensive experience, but the costly trial -and-error methods required for new technology discourage innovation.Most modern medium- and large-scale mines are now extensively mechanized. Consequently, the performance of each unit operation by individual items of equipment should be predictable for a given set of conditions. An essential prerequisite is that quantitative performance data are available from field measurements. Such information can then be used to optimize the design and management of the complete mining system to achieve the minimum tot al mining cost. One of the most significant factors influencing all unit costs is the degree of rock fragmentation. The importance of this variable is indicated by the fact that opt imization of rock fragmentation implies minimization of tot al mining system costs."

Jan 1, 1980

By C. W. Langenberg, D. E. Macdonald, R. S. Strobl

"The successful marketing of Alberta coals will increasingly depend, to a large degree, on an extensive coal quality information base. This information, at present, is generally based on a deliverable, cleaned coaland is confined to existing mine sites. Coal quality information is not as well understood for raw in situ coal outside of mine sites and even less is known about the geological factors that control it.If new uses and markets for Alberta coal are to be developed, such as gasification, coprocessing, and exploiting high rank coals for combustion, it will be imperative that the coal quality parameters important for these utilizations be known. These parameters need to be known for existing deliverable coals and, just as important, for as yet unexploited in situ coal. Factors such as the Cl, No, K, Co, P and trace element contents should be addressed to meet the requirements of these new utilizations.The geological characterization and explanation of what factors control these coal quality parameters is part of research being done at the Alberta Geological Survey. In-seam vertical profiling has been undertaken within the plains and foothills/mountains coals to determine exactly where coal quality variations occur and why. In the Ardley coal zone at the Highvale Mine it has been found, for example, that the ash content of the mined coal is made up of discrete partings and of microsized particles associated with inertinite macerals. The in-seam characterization of coal seams will lead to a better understanding of in situ coal quality variations, leading to new uses and markets for Alberta coal."

Jan 1, 1993

By R. Lovat, J. A. Hunter

"The design, development, and verification of the Lovat 7.6metre diameter full-face tunnel-boring machine is reviewed. Programmatic and technical challenges are outlined with a review of the specifications and the design to meet these requirements. Subsystem designs are presented for the waste material removal, ventilation, cutter head, structural support, advance technique, water removal, and interfaces with the Donkin-Morien Mine. The techniques used to verify that the design meets the requirements is by testing in the Lovat factory and in the field. Certification of the machine for use in a methane environment is discussed.IntroductionStudies have concluded that the average annual worldwide tunnel construction is 500 kilometres at an estimated average co st of $3,400 U.S . per linear metre. The total market value of the tunnelling industry is estimated as approximately $1.7 billion U.S. per annum. Of this, the current market for tunnelboring machine excavation is approximately $270 million U.S. per annum worldwide with a further potential of $250 million if more contractors are convinced that Tunnel-Boring Machines (TBM) are more suitable than conventional techniques. The worldwide civil tunnelling market has the potential to double each year in the next 5 to 15 years. Growth has been identified in the energy and mineral resources sectors of the economies of many nations and a significant volume of machine tunnelling studies and trials are presently underway for the extraction of coal, uranium , heavy oil or oil sand fuels, metallic and non-metallic industrial minerals and base metal or rare earth ores. Further tunnel projects for regional transportation, waterpower, irrigation , high density urban transportation, storm water sewers and water supply purposes are continually being implemented with new concepts like military security facilities and underground storage schemes being considered.Lo vat Tunnel Equipment of Rexdale, Ontario, the only Canadian manufacturer of TBMs was incorporated in 1973 to manufacture so ft ground tunnel-boring machines to satisfy this growing market demand. Lovat has produced an average of 5 machines per annum during the period 1972 - 1982 and has established an international reputation for competitive costs, quality of construction, after-sales service, and reliability. As of June 1982 Lovat TBM&apos;s have been used to tunnel over 240 km in projects throughout the world."

Jan 1, 1984

By J. Elderton

"The combination of A C induction motor and flu id coupling, of either the fixed or variable filling type, constitutes a simple, low cost, highly reliable drive unit, with many applications in the mining field.The paper will, however, concentrate on the variable filling fluid coupling in three principal applications-conveyor starting, infinitely variable speed control for slurry and slimes pumping and dewatering pumps for deep mines. Fluid couplings can be used with standard or custom-built control gear equipment, ranging from the most simple, time-based open loop types, to those having the latest microprocessor techniques.IntroductionThe first industrial applications of fluid couplings included their use in the mining field as hydraulic slip regulators for flywheel generating sets. These installations, usually rated at around 1700 to 2500 hp, were located at mine shafts where the electrical grid transmission lines were not strong enough to cater for the peak power demands of the cage winding cycle. In Canada, the first two significant examples of variable filling fluid couplings for mining were on conveyor drives, at Steep Rock Mines Limited, closely followed by the major iron ore handling term inal on the St. Lawrence River at Sept-Iles. Successful and reliable operat ion of the fluid couplings at these two sites set the pattern for use on many subsequent mining projects throughout the Canadian Continent."

Jan 1, 1986

By Edgar A. Manker

"Today&apos;s market for columbium has only developed in the last two decades, and in this sense it is ""newer"" than molybdenum, vanadium and most other steel alloying elements. In this short period, it has assumed a very important role in steel alloying and in superalloys. From a few hundred thousand pounds of columbium in 1960, consumption has grown to nearly 30 million pounds per year, with a market value approaching two hundred million dollars.To assess the outlook for columbium, we will first consider the historical development of consumption and supply, particularly noting that all of today&apos;s major mines were developed during the last two decades. From current production, we will attempt to reasonably project the future. This future may well include new producers, particularly some producing columbium as a co-product with tantalum.The growth of current applications, and emerging new applications, will be considered with regard to future consumption and in relation to future trends in pricing.IntroductionThe nineteenth century was a busy time for the discovery and naming of new elements. Among those discovered were columbium in 1801 and niobium in 1844. Although it was later shown that columbium and niobium are the same element, the two names are still used today. Niobium has been pronounced the ""official"" name by the International Union of Pure and Applied Chemistry, but columbium is still widely used in commercial practice, and we have chosen to use columbium in this paper."

Jan 1, 1981

By K. H. Singh, J. N. Szuck, J. A. Riddell

"Hydraulic rock drilling equipment has been in use at Falconbridge over the past two years in both production and development situations. This paper deals with the experience gained in the application of hydraulic drilling in the company&apos;s mines and discusses the benefits and problems encountered during their use. The paper primarily focuses on technical, operating, maintenance and economic aspects of the machines, and does not attempt to compare the performances of different machines from the various manufacturers.IntroductionThe Sudbury Operations of Falconbridge Nickel Mines Limited are comprised of five operating mines and two mines under development. All the production comes from underground mines, mostly at depths below 1000 metres. The company, faced with increases in operating costs and difficult mining conditions, has continued to seek solutions with the help of new mining technology.The development of electric-hydraulic drilling machines in Europe had been pursued with great interest and, in 1979, a decision was made to test these machines to prove their technical and economic viability under operating conditions. Since then, a number of electric-hydraulic machines have been evaluated in different situations and currently nine hydraulic machines are being used in the company&apos;s various mines. These machines are comprised of two-boom drilling jumbos for development, one-boom machines for longhole drilling and a large-hole-diameter drilling rig for blasthole drilling. One hydraulic jumbo has also been used in a cut-and-fill stope."

Jan 1, 1982

By Michel Chouteau

"A very conductive zone was revealed in 1977 and 1978 by magnetotelluric (MT) measurements carried out near Ste-Mathilde, 6 km northeast of La Malbaie . In order to identify the structure causing the anomaly, thirty-five MT soundings were recorded in 1980 and 1981 on and around the conductor within a radius of4 km. Results confirmed that the conductor is of limited extent (less than 2 km by 0.4 km). The proposed model is a highly conductive vertical slab, the top of which is within 200 m from the surface. At a depth of approximately 825 m this structure joins a conductive layer which extends to the northwest but not to the southeast. The large conductivities and the depths involved can only be explain ed by a fractured zone flooded with electrolytic solutions, by graphite veins or by metallic mineralization (sulphides). The former seems to be the most likely hypothesis because an EW fault running across this zone could have allowed percolation of water and the leaching of disseminated pyrite out of a mylolisthenite filling the fault.IntroductionLa Malbaie is located 130 km northeast of Quebec City on th e North Shore o f the St. Lawrence River (Fig. I). Four major groups o f rocks have been mapped in this area: charnockitic rocks to the west , granitic rocks in the north east and southeast, gneiss and pegmatites northwest and south of La Malbaie , and Paleozoic sediments in the Clermont-La Malbaie Valley and along the shore of the St. Lawrence River (Rondot, 1966). Two major features dominate the structure of the region: Logan &apos; s line , a major thrust fault beneath the St. Lawrence which separates the Grenville Province to the north from the Appalachian regime to the south, and the Charlevoix Crater , a large Paleozoic impact crater that created an almost perfect annula r structure centred on Mont des Eboulements (Rondot, 1970). Ste-Mathilde is a village lying 6 km northeast of La Malbaie, just outside the ring-like graben zone caused by readjustments after meteorite impact. The survey area spreads over a granite body which is more than 2 km long and 0.6 km wide, surrounded by a wide migmatite zone which is injected by many bodies of pegmatite, the latter likely related to the granite body (Fig. 2). A zone of leptynites lies west of the area. An east-west trending fault (FA1) related to the Charlevoix Crater runs mid -way across the survey area; a second parallel fault (FA2) south of FAI separates the gneissic rocks from the Paleozoic sediments. The overburden is usually thin with outcrops frequently encountered except for the centre of the survey are a where 10 m of glacial sediments are expected (E. Gaucher, 1982, personal communication)."

Jan 1, 1985

By D. M. Slavich

"In today&apos;s operating and investment climate, project evaluation is both more important and more difficult. It is more important because economic and financial analyses of a proposed project provide a basis for judgment of a project&apos;s commercial viability by equity participants, lenders and, in some cases, other participants such as off takers and governments. It is more difficult because these analyses must, of necessity, be based on estimates, projections and evaluations which must be made in a period remarkable for its economic and political uncertainty.Project evaluation starts with the analysis of the engineering, commercial and financial information available. Beginning with the preliminary design and capital cost estimates, alternative financing plans can be developed outlining possible sources of funds, terms and security arrangements. Pro-forma financial statements can also be developed, including sources and uses of funds, cash flow schedules, income statements and balance sheets. With these results, various profitability measures can be determined.Subsequently, in an effort to deal with uncertainty, these results can be tested by measuring the impact on project viability and profitability of changes in project and external variables such as product process, mining and processing rates, operating and financing costs, currency exchange rates and other factors.The results are a number of financial projections reflecting different assumptions for key project parameters. The projections can be used to structure the project to achieve the maximum financial performance. Projects, the financial viability and profitability of which can be demonstrated under varying market conditions, will be the most competitive in capital markets."

Jan 1, 1982