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By Fawad S. Niazi

Analysis of deep foundations in terms of axial capacity has been a topic of great interest in the soil-structure interaction problems. Soil behavior is governed by a series of complex stress-strain changes that occur during pile installation and subsequent loading. Owing to the difficulties and uncertainties on the basis of the soil strength-deformation characteristics, one of the most frequently followed design practice is to refer to the formulae correlating directly the pile axial capacity components of unit base resistance (qb) and unit shaft resistance (fp) to the data collected from cone penetration test (CPT), i.e. to the tip stress (qc or more proper qt), sleeve friction (fs), and shoulder pore water pressure (u2). The elementary basis for such formulations has been the idea of considering cone penetrometer as a mini-pile foundation. This has resulted in plethora of correlative relationships in the past over 60 years. Such correlations, although empirical, have been worked out on the basis of load test results from both instrumented and un-instrumented full scale piles and are able to accommodate many important variables. A quick review of the evolution process and development of such design formulations is presented with a view to propose recommendations for future research directions, where the latest version of CPT i.e. seismic piezocone test (SCPTu) can be used to advance from capacitysingularity to the complete axial pile load–displacement (Q–w) response.

Jan 1, 2013

By Stanley N. Watowich

Recently the petroleum market has made us aware that we are indeed global natural resource consumers, and as such, we have become captive to fundamental global resource economics and their attendant vagaries. Global resource supply problems are as old as civilization and mineral exploration one of its important catalysts. On the basis of natural resources empires have been expanded and new frontiers have been developed. Global consumption and production might even be viewed idealistically as a system dedicated to optimizing distribution to the consumer. However, this is not the case. Political instability and increased government polarization make dependency on a global market somewhat insecure. The U.S. must evaluate its domestic mineral re- sources on the basis that all metals are critical and that dependency on even the common and base metals may ultimately weaken our domestic economy and our potential international relationships and could cause critical weaknesses as demonstrated by the petroleum problem. This paper evaluates specifically the Duluth Gabbro Complex, of Northeastern Minnesota, (figure l), as a potential resource of critical and strategic metals. First, a chronology of some of the early exploration, will be followed by more recent intensive company studies and preliminary evaluations of economic feasibility. Lastly, metallurgical data, on some optimum conceptual mining plans will allow metal production data to be compared with an estimate of U.S. domestic needs in 1990. The purpose of this paper is to put into focus the difficulty of converting resources into vitally needed reserves.

Jan 1, 1981

By A. F. Lucas

Introduction BELLE ISLE, located in the low sea marshes near Atchafalaya Bay, is the southeasternmost of the famous Five Salt Islands of Louisiana. Rising about 80 ft. (24 m.) above the level of the surrounding marsh and being some 800 acres (323 ha.) in extent, it constitutes a striking landmark on the low Gulf coast, and since the eighteenth century, when it played an important part in the operation of the buccaneers, it has been intermittently frequented by man. In 1897, the writer discovered the great mass of salt that underlies the island and shortly afterward pub-lished a brief account of the geology of Belle Isle and the neighboring salt islands.' In that paper he described principally the salt, but pointed out also the occurrence of petroleum and of sulphur in the strata above the salt. Since that time the island has been extensively explored by the drill, and the developments up to 1908 have been described by Veatch2 and Harris," and Knapp.4 The writer's early conclusions as to the probable presence of sulphur in considerable quantity have been confirmed by the later drilling, some of the wells having found quantities of gas containing sulphur dioxide and a number of sulphur-bearing strata as well. Under the stimulus of the present keen demand for sulphur for war purposes, a syndicate of New York capitalists was recently formed to explore the sulphur resources of the island in more detail. Under the writer's direction, six wells were drilled for this syndicate during the winter of 1916-17. The present paper presents briefly the results of this work and sums up the present knowledge of the geology of this highly interesting locality.

Jan 9, 1917

By J. A. Slattery, C. E. T. White

Although trace amounts of Indium are found in many ores, commercial production of the metal has come almost exclusively from residues, flue dusts and slags generated by Zinc recovery operations. Our paper attempts to summarize the various approaches used to recover Indium from these by-products. Some comments on production and price trends are Included as well as our views on future availability.

Jan 1, 1983

By Malcolm Scoble, Nick Vagenas, Greg Baiden

Recent advances in underground communications technology have demonstrated the feasibility of teleoperation and automation in underground metal mines. One major challenge lies in the automation of underground mobile machines from surface, with the potential to reduce significantly the need for human involvement in underground operations. This paper reviews the evolution of underground metal mining automation, principally related to the development of teleoperation and automation of mobile mining machines. Examples of prototype systems are given and the associated benefits that have been observed are reviewed.

Jan 1, 1997

By D Chalmers

After the sustained use of the GAG (Górniczy Agregat Gaśniczy) engine at a Queensland coalmine, it has raised questions as to its effectiveness as a remote firefighting tool. All firefighting apparatus have advantages and limitations, however the deployment of any apparatus must be based on its likelihood to succeed and effectively extinguish the fire or bring it under control. A recent study conducted for ACARP by researchers at UNSW has highlighted that there is more to be learned about the GAG. As coalmines are mining at greater depths and fan pressures are much greater than they were when the GAG was introduced, deploying the GAG may be a total waste ofresources and may place operators at greater risk. When the GAG unit is positioned on the surface of the mine, the pressure it generates has to overcome buoyancy of the exhaust gases and the frictional resistance of the borehole and part of the mine circuit. Buoyancy in deeper holes can lead to the GAG pressure relief system opening, venting out the products to the atmosphere without delivering any product to the mine workings. Additionally, frictional resistance is a function of distance. Deeper holes will have a greater frictional resistance than shallow holes. Delivering sufficient products from the unit will be limited by the available pressure that has to overcome the buoyancy, and increased mine resistance thatconsumes any residual pressure. By documenting the limitations of this unit it will enable better decisions to combat a fire or spontaneous combustion event.

Oct 12, 2022

By C. Jay Hodgson, P. J. MacGeehan

"Of the 135 current or past-producing 'gold-only' mines in the Superior Province of the Canadian Shield which have produced more than 100,000 tons of ore, the 33 mines which have produced one million ounces or more of gold have accounted for over 84o/o of the total production of 137 million ounces. The published literature on these 33 deposits was reviewed in order to determine the geological setting of the mineralization on a regional (mining camp) and local (mine) scale. The dominant rock types underlying the mining camps are mafic, variolitic, tholeiitic volcanic rocks with a significant ultramafic (komatiitic) component, and clastic and/ or exhalative sedimentary rocks. Felsic volcanic rocks are generally subordinate. Most mining camps are located at or near the top of the mafic-ultramafic sequence, and generally there is a major sedimentary-volcanic contact present which may be 1) a stratigraphic superposition of volcanic and sedimentary units, 2) a rapid, along-strike gradation from dominantly volcanic to dominantly sedimentary units due to facies change, or to the formation of structurally controlled sedimentary basins during volcanism, or 3) frequently (at 40o/o of the camps) a juxtaposition of sedimentary and volcanic sequences across a major fault zone or 'break', which in many instances may represent a reactivated, syn-volcanic basin-margin fault.In contrast to the regional setting, on a local or mine scale over 90o/o of the 33 mines contain felsic intrusions and/ or extrusions within mine workings. The felsic rocks may be quartzbearing (commonly quartz-feldspar porphyries) or dominantly quartz-free (commonly feldspar porphyry syenites or monzonites), and appear to have been emplaced in two different depth-zone environments: an epizonal intrusive environment, and a volcanic vent environment. Although the distinction between epizonal intrusive and volcanic intrusive-extrusive rocks is uncertain in many deposits, the two are tentatively separated on the basis of the grain size of the rock matrix (medium to coarse grained vs aphanitic to fine grained), homogeneity (multi-phased and/ or compositionally zoned vs compositionally homogeneous), and the shape and relationship to stratigraphy of the igneous body (circular or oval in cross section, and cutting the stratigraphy at a low angle vs lenticular and either stratiform or cutting the stratigraphy at a high angle). In addition, felsic intrusions of the volcanic environment commonly grade into tuffs or breccias of extrusive origin, whereas epizonal intrusions do not.Stratiform ore zones of possible exhalative sedimentary origin appear to be confined to deposits in which volcanic felsic rocks are present, and are absent from deposits in which only epizonal felsic intrusions are present. Pervasive carbonate- rich alteration, commonly in roughly stratabound zones of regional extent, and carbonate-rich chemical sedimentary rocks are present in over three-quarters of the deposits containing quartz-bearing felsic volcanic rocks, but are much less common in deposits with quartz-free felsic volcanic rocks. The host sequences of epizonal felsic intrusions which are quartzfree are more commonly sedimentary than those of quartz-bearing epizonal felsic intrusions.Quartz, carbonate minerals, arsenopyrite, scheelite, tourmaline and Cr-muscovite ('juchsite') are the most common mineralogical associates of gold. Arsenopyrite is essentially restricted to the volcanic environment, occurring in about twothirds of the deposits with quartz-bearing felsic volcanic rocks and less than half of the deposits with quartz-free volcanic rocks. Tourmaline, on the other hand, is almost ubiquitous in deposits associated with epizonal intrusions and also occurs in about two-thirds of the deposits associated with quartz-bearing felsic volcanic rocks, but in only one of the eight deposits associated with quartz-free felsic volcanic rocks. Scheelite is essentially restricted to ores of quartz-rich fel"

Jan 1, 1982

By Milton C. Graves, Marcos Zentilli

"Gold has been reported from most geological environments in Nova Scotia; however, virtually all production (circa 2,000, 000 troy ounces; circa 60 tonnes) has come from that part of the province to the south of the Glooscap Fault which is underlain by Lower Paleozoic rocks of the Meguma Group. Over fifty concordant sets of quartz-carbonate-arsenopyrite veins have seen production. The host rocks are greenschist-grade equivalents of Cambro-Ordovician flyschoid quartz wackes and shales folded and metamorphosed during the Devonian Acadian Orogeny. The veins were emplaced under conditions of greenschist-grade regional metamorphism and under the same conditions of tectonic stress that later resulted in the regional folds and penetrative, axial-plane slaty cleavage. Rapid filling of hydraulic fractures caused by excess metamorphic pore fluid pressure under Acadian tectonic stress conditions can account for the geometry and paragenesis of these veins.The ultimate source for gold deposits in most greenschist-grade domains remains in doubt, but these domains seem to have had ample gold within them available for mobilization. The work done, to date, on the gold geology of Nova Scotia suggests that regional greenschist metamorphism was an effective mobilizer and a potential concentrator of Au, As, W, Fe and S from these vast reservoirs.In rocks of pre-Acadian age north of the Glooscap Fault, gold occurs as an important accessory in volcanogenic massive sulphide ore, as a minor constituent in other types of basemetal concentrations and in one small concordant group of quartz veins.The post-Acadian metallogenetic domain, which overlies and overprints the two older domains, contains small amounts of gold in many mineralizing environments. Veins, with stibnite and gold, cross-cut crystalline rocks. Disseminated gold is present in basal conglomerates of post-tectonic molasse. Gold has been a by-product of Mississippi Valley-type Pb-Zn-Ba-Sr deposits in Lower Carboniferous sedimentary rocks and has been reported with Pb-Zn-Ba-F in veins which cross-cut Lower Carboniferous and older rocks. Small post-glacial placers have also seen minor production."

Jan 1, 1982

By Bruce Hebblewhite, Jim Galvin

"A coal burst occurred on 15 April, 2014 at the Austar Coal Mine, located west of Newcastle, NSW, Australia. The burst resulted in fatal injuries to two men working as part of the mining crew at the development face. At the time, a continuous miner was being used to mine a longwall development gate road through heavily structured coal, at a depth of approximately 550m. A number of pre-cursor bumps had occurred on previous shifts, emanating from the coal ribs of the roadway, in proximity to the coal face.This paper reviews the geological, geotechnical and mining conditions and circumstances leading up to the coal burst event; and presents and discusses the available evidence and possible interpretations relating to the geomechanical behaviour mechanisms that may have been critical factors in this incident. The paper also discusses some key technical and operational considerations of ground support systems and mining practices and strategies needed for operating in such conditions in the future.INTRODUCTIONAustar Coal Mine is an underground longwall coal mine located near Cessnock in the Hunter Valley of New South Wales (NSW), Australia and is the only underground mine still extracting the Greta Seam in this region. The mine was the first in Australia to adopt the Chinese-developed Longwall Top Coal Caving (LTCC) method for thick seam extraction. Typically seam thickness ranges from 4m to 7m and depth of mining from 480m to 560m, with future mining planned down to depths of up to 700m, making it one of the deepest operating coal mines in Australia.On 15 April 2014, a pressure burst occurred in the left hand rib at the active mining face of B Heading, 2 to 3 cut-through, Maingate A9 panel, during development of the gateroads for the ninth longwall top coal caving panel. Strata in the general vicinity was affected by disturbed geology and multiple geological structures. Figure 1 shows a section of the mine plan as at October 2014 (six months after the accident), indicating the current longwall extraction panel (AS) and the development panel A9 where the accident occurred. (Note: Neither development nor longwall face positions changed significantly between the time of the accident and the date of this plan). At the time of the accident the current longwall face was in excess of 1,000m away from the Maingate A9 development panel face position."

Jan 1, 2016

I had hoped when the time came for me to address this meeting that gold mining would be in a much happier position than we find it to-day.As it is, and because of the demands of national security, we find this great and valuable primary industry relegated to the background and in danger of temporary extinction.These notes refer mainly to gold mining in Western Australia, whence comes the major portion of Australia's production, and their purpose is to record a brief review of the industry immediately prior to the general disorganization that is following the call-up of men from the mines.During this period of reduced production the loss of comparable statistical data will make it impossible to follow the progress of the industry, and, since the period may be long, it occurred to me that information might be derived from an examination of the trend of recent production that would indicate what may be expected of the industry when full production is resumed in the future.Since the revival of gold mining, which started in 1931, most of the old-established mines have reorganized and, in some cases, completely renewed and enlarged their equipment in order to achieve maximum production, and old mines hitherto unpayable have been re-opened and equipped. At the same time large sums have been spent in scientific prospecting and in search for new mines, and it is safe to say that at the end of 1939, when gold production reached its peak, practically every known mine in Western Australia that could be worked profitably was in production.During this period the number of men employed in the industry rose from 5,961 in 1931 to approximately 15,000 in 1939. From the outbreak of war in 1939 to the end of 1941 the output from the mines was maintained at full pressure, maximum tonnage beingrecorded in 1940, although a reduction in the grade of ore treated caused a slight falling off in gold production.During 1941 there was a. fall in both tonnage and grade. The decline in tonnage was due partly to the closing of the Lancefield and Mount Magnet mines, and partly to the shortage of labour brought about by the response of the goldfields to the call for men for the fighting services, the average number of men in the industry in this year being reduced to 12,929.With the entry of the United States into the war in December last and the pooling of the resources of the allied nations, the need for gold as a purchasing medium passed, and with its passing there arose the demand for the transfer of the man-power engaged in gold mining to other fields of industry directly connected with the war effort.There was a ready response by those connected with the industry who...

Jan 1, 1942

By Ludwig Strah

"The paper outlines the history of rubber mill liners beginning with the awarding of the first North American patent rights in 1923. It includes the early-day applications and installations of the 1920s and 1930s through to their present-day application. Over-all rubber mill liner design is discussed in relation to present day installations employing rubber mill liners in various grinding applications. A brief overview is given of a manufacturer's procedures to produce rubber mill liners.IntroductionIn early 1910, it became apparent that the productive life of the silver mines in Cobalt, Ontario, could be substantially prolonged by mining lower-grade ores.The mining of lower-grade ores required the establishment of treatment facilities which initially employed jaw crushers, stamp mills, jigs and concentrating tables. The recovery of silver in other than a coarse metallic form required the additional step which was introduced at that time: the cyanidation of silver concentrates from the tables. The resultant requirement for increased and improved recovery led to the introduction of grinding mills, i.e. tube mills.Shortly after the introduction of the tube mills to the Nipissing Mine's mill in 1914, the idea of using rubber as a mill liner material was spawned. However, no action was taken due to the advent of World War I. It is interesting to note that the idea of rubber mill liners emanated from having used pieces of solid rubber tire as an emergency repair on a set of liners when a liner had broken and no immediately available spare was on site.The credit for this ingenuity and subsequent application for a patent on rubber mill liners falls to James John Denny, the mill superintendent, and Rolla Barnum Watson, the general manager of Coniagas Mines Limited. The patent application was formally made on December 3, 1921. The U.S. Patent Office issued Patent No. 1,470,597 on October 16, 1923."

Jan 1, 1982

Host minerals for gold have been of great interest to exploration geologists and metallurgists for a variety of reasons. The depletion of high grade ores in many parts of the world requires that greater attention be given to the study of host min-erals for gold. Some host minerals have been employed in exploration as traces for gold. They are also essential in the design of extraction processes for treating gold ores.This paper reviews the mineralogy of important gold deposits of Papua New Guinea (PNG), Indonesia and New Zealand and focuses attention on the ore minerals and rock-forming minerals that host gold.

Jan 1, 1994

By G McKay, M Erskine, S Macklin

The City of Sydney is currently investing in a number of infrastructure projects that require tunnel excavations within the Triassic Hawkesbury Sandstone. It is generally accepted that this formation has high residual stresses of ‘tectonic’ origin, so much so that these stresses have been implicated in a number of well-known failures and problems for tunnelling. These include failure of ‘roof beams’ comprising discrete beds in the crown of tunnel excavations; stress-induced spalling and ‘slabbing’ of tunnel walls; shear displacement between beds causing the failure of rock bolts; strain in adjacent infrastructure and, the necessity for re-grouting of high conductivity fractures due to stress relief dilation after excavation. Whilst there is an extensive published database of in situ stress measurements comprising ‘hydrofrac’, ‘over-coring’ and ‘slotter’ stress measurements, these data indicate a considerable spread of results. The traditional approach to interpreting this data has been to attempt to fit linear correlations to stress versus depth data, based on personal experience and ‘back-analysis’ of monitoring data during construction. However, there are a number of such correlations in the literature and there is divergence of opinion regarding the assessment of ‘background’ in situ stress and appropriate upper and lower bound values for design. This paper provides a brief review of the published data; suggestions on an alternative ‘risk-based approach’ to assigning in situ stresses for design; and, proposals on how in situ stress tests may be conducted in future to improve the quality of the database available to designers.CITATION:Macklin, S, McKay, G and Erskine, M, 2014. A review of the in situ stress database for tunnel design in the Hawkesbury Sandstone, Sydney, New South Wales, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 171–178 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By E. Y. Carlson

"IN A SHORT PAPER it is impossible to do much more than to list the industrial minerals found in Saskatchewan and to give a brief description of the activity associated with each. I will not attempt to discuss the geology. It is sufficient to say that the settled part of the Province is covered by glacial drift which varies in thickness from a few feet to several hundreds of feet, and that this has hindered the search over much of the Province.CLAYA notable exception to this is the Cypress Hills area in the southwest corner which did not suffer any glacial action and where we find some of the large exposures of Cretaceous clays. In this area, the majority of the deposits are of stone-ware clays which are •an excellent raw material for such products as face brick and sewer pipe. Although the clay cannot be transported over any great distance it is used extensively in Alberta and Saskatchewan in the production of these products."

Jan 1, 1959

By Samuel Taylor

IT is customary for the president of an engineering society, in his annual address, to describe either some engineering problem with which he has beer connected or to review the work of the society during his administration. My first thought, this being the sesquicentennial year of our nation, was to review the advance in coal mining for the past fifty years, during which period I have been more or less intimately con-nected with the bituminous coal industry, and have personally witnessed most of the great changes which have occurred in methods and machinery used in the production of coal, but preparation of the requisite address would take more time than could be spared to prepare it, and its presentation would consume so much time that it .would not be suitable. The new arrangement providing for giving the presi-dent's address at the business meeting makes it more .appropriate to review the work of the Institute during the past year, together with some suggestions which appeal to me as being of advantage to the future wel-fare of the Institute, which I will try to do briefly. The work of the business office has been reviewed in the Secretary's report and it will not be necessary for me to dwell on it. Suffice it to say, it seems to be going along very well. Additional work could be done which would be to the advantage of the Institute, if we had the money with which to defray the necessary ex-pense incident to it, but I will refer to this again later. I would be derelict if I did not refer to the splendid work of the Secretary and the Assistant Secretary. Keeping in touch with all the sections, which number now about 26, and affiliated student societies which number 40, besides special committees, and represent-ing the Institute on various boards, provides work enough to occupy the Secretary's time almost exclu-sively. In addition to this the Secretary and the As-sistant Secretary have the work of editing and publishing the TRANSACTIONS of the Institute; the issuing of the magazine, MINING AND METALLURGY, in the splendid manner in which it goes out to the mem-bership is no light task and I think they should receive the commendation of the membership for this work.

Jan 3, 1927

By J R. Robinson

Prior to mine development, exploration drilling within the Luise Caldera on Niolam Island encountered gold mineralisation to the northwest of the main Minifie and Lienetz orebodies. This mineralisation was referred to as the Kapit orebody, and ten diamond drill holes were subsequently completed over the area to investigate its economic potential. Several significant mineralised intercepts were returned. These were interpreted using the orebody model developed for Lihir at that time which invoked a strong horizontal control to mineralisation. Additional consideration was given to the elevated geothermal temperatures encountered, the proximity of the mineralisation to the ocean, and its perceived depth below sea level, resulting in the Kapit area being given a low priority for follow up investigation. As a result, no further work was completed over Kapit until recently. The Kapit orebody was the target of an intense diamond drilling programme during 2002/2003. Data from this latest round of drilling has significantly improved understanding of the mineralisation and associated geology. The significant orebody now delineated at Kapit substantially differs from past interpretations, and the latest data has upgraded its economic potential. A resource estimate and other critical studies completed in 2003 enabled an updated reserve statement to be issued in February 2004 including the Kapit mineralisation for the first time. Total Probable Reserves at Kapit stand at 25.2 million tonnes (Mt) at 5.28 grams of gold per tonne (g Au/t), for a total of 4.3 million ounces (Moz) of contained gold.

Jan 1, 2004

By Richard J. H. Barclay

The Lac Otelnuk iron property is located in the Province of Québec in the Northern Labrador Trough. The Labrador Trough is an extensive geosyncline of Proterozoic rocks, unconformably underlain by Archean gneisses. The Lac Otelnuk iron property hosts two significant magnetite iron-formation taconite deposits that outcrop, are sub-horizontal and are known to extend for at least 25 kilometres along strike. The host sedimentary rock package that includes a cherty iron formation is weakly metamorphosed to greenschist facies.

May 1, 2007

In 1801, Hatchett discovered the oxide of a new element while he was examining a heavy black mineral from Haddam, America, which had been presented to the British Museum. He named the mineral Columbite and the metal Columbium. A year later a Swedish investigator, Eckeberg, while working with a new mineral resembling columbite-yttrotantalite discovered a new element, to which he gave the name of tantalum.In 1844, Rose announced the existence of two new elements in a sample of columbite from Bodenmais. One was similar to Eckeberg's tantalum and the other was called Niobium. Wollaston, in 1909, attempted to show experimentally that columbium and the tantalum were identical, but it was soon proved that they were two separate elements. Subsequently a number of investigatiors found other "new elements" in tantalum and columbium bearing ores, but these were shown to be mixtures of the twin metals.Since Hatchett's Columbium and Rose's Niobium are identical, it is more fitting to use the name assigned to this element by the earlier investigator. However, the term niobium is still retained in Germany and England.The separation of tantalum and columbium has been one of the major problems for analytical chemists since the discovery of the two elements and it is only in recent years that tantalum of a high degree of purity has been produced. High purity columbium metal is probably still to be obtained.Until 1903 tantalum was merely a laboratory curiosity, but about this time its use in incandescent electric light bulb filaments was discovered. Eight years later it was replaced by tungsten, which was better and cheaper. For a time the electrolytic valve action of tantalum was used in the charging of storage batteries, but the chief uses of the metals' to-day are for corrosion resistant apparatus, in vacuum tubes and as carbides in the manufacture of hard cutting and shaping tools.Most of the recent work on the metals has been done by C. W. Balke, in America. Tantalum has been studied more than columbium. OCCURRENCE OF TANTALUM AND COLUMBIUMI. NATURE OF ORESTantalum and columbium occur, nearly always together, as the oxides in combination with other metallic oxides. The only known exception to this is the reported occurrence of metallic tantalum with gold in the Ural Mountains. Unlike most other metals, no compounds with sulphur are known to occur in nature. Tantalum and columbium minerals occur usually...

Jan 1, 1943

By T. R. Ellis

Many appraisers/valuers believe that the only valuation method available within the Cost Approach category for Real Property appraisal is the depreciated replacement cost method. Some valuation and financial reporting standards setters also believe the same. This paper introduces the minerals appraiser to a number of useful methods for mineral property appraisal that are based primarily on the principle of contribution to value, the predominant economic principle in the cost approach. Most of these cost approach methods discussed are primarily for use in valuation of exploration tracts and resource properties that have no defined reserves. However, the powerful rural cost method can be used to calculate the contribution of categories of resources, reserves, and other property components to the value of a mineral property. This method can be applied to mineral properties at all stages of development, including producing properties.

Jan 1, 2011

By T. R. Ellis

Many appraisers/valuers believe that the only valuation method available within the cost approach category for real property appraisal is the depreciated replacement cost method. Some valuation and financial reporting standards setters also believe the same. This paper introduces the minerals appraiser to a number of useful methods for mineral property appraisal that are based primarily on the principle of contribution to value, the predominant economic principle in the cost approach. Most of these cost approach methods discussed are primarily for use in valuation of exploration tracts and resource properties that have no defined reserves. However, the powerful rural cost method can be used to calculate the contribution of categories of resources, reserves and other property components to the value of a mineral property. This method can be applied to mineral properties at all stages of development, including producing properties. The author reasons that standards and regulations pertaining to real property valuation should be modified, and underlying principles should be expanded, so as not to inhibit appropriate application of these cost approach methods.

Jan 1, 2011