Search Documents

By D J. Corp

The Halmahera Contract of Work is a sixth generation contract held 82.5 per cent by Newcrest Mining Limited and 17.5 per cent by PT Aneka Tambang and takes in the Gosowong Project area. In 1991 Newcrest Mining Limited established a small exploration office in Jakarta and proceeded to seek exploration opportunities. The Halmahera area was identified as a substantial prospective ground position in a relatively unexplored area. In late-1991 Newcrest Mining Limited and PT Aneka Tambang agreed to explore in Halmahera. Initial field work commenced in July 1992. A vigorous ground reconnaissance programme led to the discovery of the Gosowong deposit a little over 12 months later in September 1993. In April 1997 the Contract of Work was approved covering much of the island of Halmahera. Between September 1997 and November 1998 activities were directed principally towards obtaining the necessary permits required to commence construction activities. Some particularly ambitious targets were set for achieving this outcome. An aggressive construction programme commenced in late-1998. Construction took place during a period of unseasonally high rainfall, which in itself presented additional challenges to the construction team. A key milestone for the project was achieved on 1 July 1999 when wet commissioning of the process plant commenced. Construction of the Gosowong Mine was achieved on time and within budget. A period of some six years elapsed from the initial discovery of the Gosowong deposit to the time of the first gold pour. Much of the permitting, construction and commissioning activity took place between September 1997 and July 1999. This coincided with a period of significant social, economic and political upheaval in Indonesia. During the construction period a high level of importance was placed on the structured recruitment and training of local people, as well as fostering appropriate community and local business development programmes in the communities nearby the project. Emphasis was also placed on environmental management with detailed long-term planning and progressive rehabilitation commencing during the construction phase. The permitting and subsequent development of the Gosowong Project has demonstrated that even during the difficult times, with commitment, it is possible for mining and exploration companies to conduct business in Indonesia.

Jan 1, 1999

By P Cameron

MetPlant conferences have focused on ensuring mining projects are well designed then optimised to operate safely and effectively at the top end of world’s best practice to ensure shareholders are not just happy but delighted. This assumes the MetPlant was built right the first time. However, reality is, too often Plant Metallurgists (PlantMets) find after commissioning they are faced with the expensive task of correcting errors or modifying shortcomings to achieve product quality at name-plate capacity, i.e. get it right the second time. Why do companies spend good money to engineer an excellent feasibility study then allow “wise men” remote from the project team to impose cuts in budget and schedule, often under the guise of value engineering? Since mining is full of uncertainties, such actions can increase the risks of failure with the result that some MetPlants do not work well. Can PlantMets influence the remote wise men who often are also imposing the rules for lending and the required returns to appreciate the uncertainties of mining and their associated risks then let the project team get it right the first time? PlantMets can negotiate with the wise men from the outset of the project and bring them into an outer layer of the team where they can understand the risks then share responsibility and accountability to achieve the common goal of building a MetPlant which works well the first time and deliver the forecast profits. Since shareholders are not in the business to make losses they appoint a Board of Directors to deliver the best outcomes for the shareholders. Thus the Board should seek effective advice on the risk reward implications from the PlantMet before making their decisions.CITATION:Cameron, P, 2015. Do all metplants work well? PlantMets can ensure they do, in Proceedings MetPlant 2015, pp 2–9 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

By James D. Noll, Jon A. Hummer, Shawn E. Vanderslice, Aleksandar D. Bugarski, George H. Jr. Schnakenberg, Steven E. Mischler, Larry D. Patts

The National Institute for Occupational Safety and Health designed and conducted a study in an underground metal mine to assess the effects of selected diesel emissions control technologies on the concentrations of diesel particulate matter and gases in underground mine air. The control technologies studied included diesel particulate filter (DPF) systems, filtration system with disposable filter elements, diesel oxidation catalytic converter, and biodiesel blends. Each technology was tested on a mining vehicle operated in an isolated area of an underground mine supplied with fresh air. These isolated zone tests allowed for the operation of vehicles under conditions and over duty cycles that closely mimic actual duty cycles of production equipment. The DPF systems reduced the elemental carbon (EC) concentrations in mine air between 88% and 99%. The same systems reduced total particulate matter (TPM) concentrations in mine air by approximately 75%. The biodiesel blends B20 and B50 caused a reduction in the EC concentrations of 26% and 48%, respectively. Those blends also reduced TPM concentrations by 9% and 24%, respectively. The use of #1 diesel fuel reduced EC concentration by 13% compared to #2 diesel fuel. An increase in nitrogen dioxide concentration of up to two times was seen when platinum-catalyzed DPF systems were tested.

Jan 5, 2006

By William W. Adams

The quarrying and related industries of the United States made a large gain in employment (man-hours of work) in 1942 with a somewhat smaller number of men employed than in 1941. This was accomplished chiefly by increasing the number of workdays per man and also by increasing the length of the workday. In spite of the greater volume of work performed, the industry had a more favorable accident-frequency rate in 1942 than in the previous year. Accident and employment reports from operating companies showed that the industry employed 84,270 men for an average of 271 days per man in 1942, with a volume of work of almost 181 million man-hours. The average workshift comprised 7.93 hours, and the number of man-shifts worked totaled nearly 23 million. Injuries from accidents in and about the quarries and plants caused disability to 6,461 employees, 112 of whom died as a result of their injuries, including 28 employees whose lives were lost in a single disaster. The accident-frequency rate in the industry was 35.73 per million man-hours worked, comparing favorably with a rate of 40.11 for the previous year. However, the figure for 1942 included a death rate of 0.62 per million man-hours which, because of the disaster referred to, was considerably higher than the fatality rate of 0.44 for 1941. Had the disaster not occurred, the fatality rate for the industry for 1942 would have been 0.46. The major disaster in which 28 lives were lost occurred on March 26 at the Sandts Eddy quarry of the Lehigh Portland Cement Co. near Easton Pa.

Jan 1, 1944

By H. J. de Haan, L. Schenk

Scope for Thermal Recovery in Shell's Heavy Oil Fields in Venezuela The main heavy oil reservoirs on the East coast of Lake Maracaibo (Fig. I), known as "Bolivar Coast", initially contained some 20 billion bbl of oil in place with gravities in the range of 10 to 15° API. The current total production rate is about 400,000 B/D. Since the recovery to date is on an average only 12.5 percent of the initial oil in place, these fields offer a vast potential for secondary recovery methods. The reservoirs are characterized by moderate depth (generally 1,000 to 3,000 ft; maximum 5,000 ft), good formation properties such as net oil sand thickness (50 to 300 ft), high porosity (30 to 40 percent) permeability (1 to 3 darcies) and oil saturation (initially about 80 percent) and high oil viscosity (100 to 10,000 cp in situ), all of which are favorable for the application of thermal recovery processes. Since 1957, steam drive, steam "soak" and underground combustion have been tested or are being tested in this area.1-3 This paper deals with a major steam drive test in the Tia Juana field. The test was commenced in Sept., 1961, on the basis of encouraging results of laboratory experiments and pilot field tests, which will be discussed briefly. Early Laboratory Investigation of the Steam Drive Process In 1956 a series of model experiments was carried out in the Koninklijke/Shell Laboratorium, Amster- dam, to investigate the displacement of heavy oil by steam.' The prototype studied was a horizontal, un-consolidated heavy oil reservoir, subjected to a linear steam drive. The model, representing a slab from this reservoir along the main flow direction, consisted of a steel tube filled with oil-saturated sand, provided with layers of rock at the top and bottom to simulate conductive heat losses to cap and base rock. Lateral heat losses, perpendicular to the main flow direction, were minimized by insulating the sides of the model. Heat flow and viscosity and gravity forces were scaled by taking the steam injection rate and sand permeability inversely proportional to the geometric reduction factor of the model, and using materials (oil, steam, cap rock, etc.) identical with those of the prototype. The main feature of the process was a frontal displacement mechanism that was observed within wide ranges of injection pressure and rate, oil viscosity, initial oil saturation and sand permeability. The high stability of this front can be attributed to the high volumetric steam flow rates, combined with the reduction in oil viscosity. High recoveries were obtained due to the low residual oil saturation of about 15 percent in the zone swept by steam. The latter value pertains to the specific test conditions (heavy oil, uncon-solidated sand) and may be lower for light oil, due to the effects of steam distillation. The applicability of this experimental approach is limited, as it does not take into account the fact that

Jan 1, 1970

By William P. Blake

We are so familiar with water in its liquid and its solid form, that we seldom think of it as a mineral, and still less as a mineral product of any considerable industrial importance, though in the form of ice it is mined and stored up in enormous quantities yearly. The industry is peculiarly American, and in no other country has the business of cutting and storing ice been so well systematized and perfected. The interest has grown steadily from year to year, until it has attained large proportions, the annual production being counted in millions of tons, requiring, in the aggregate, a large investment of capital in all the Northern States. It gives employment, also, to thousands of men and horses, in the depth of winter, when farming work cannot be carried on. Ice is not only a luxury, but a necessity, in our climate, and is indispensable in many manufacturing operations: and finds constantly increasing applications and uses. As the industry has grown, so the necessity for suitable implements and tools has grown with it, and it has become necessary to systematize and cheapen the methods of handling such a large amount of material with rapidity and economy. As the industry is properly a branch of mining, and as our mining literature does not, to my knowledge, contain any description of the methods and appliances used in it, it seems desirable to place a brief description on record in our Transactions, and I therefore offer to the Institute the following outline description, based partly upon observations for several years past of the methods and processes employed, and partly upon the information obtained from prominent ice-miners and from the manufacturers of ice-tools. My acknowledgments are particularly due to the firm of W. T. Wood & Co., of Arlington, Massachusetts, for much information in detail, and also to the Knickerbocker Ice Company, of Philadelphia. The wood-cut blocks used in the illustration of this paper, have been kindly lent by both of these firms. The sequence of operations in getting ice is as follows : 1. Wetting down a light snow. 2. Scraping off an excess of snow, if present. 3. Marking out the field. 4. Ploughing and cross-ploughing. 5. Cutting the channel and detaching large floes.

Jan 1, 1883

By Russel R. Bohn

The objectives of this study were to: (a) determine the state of the art for the control effectiveness of various chemical dust suppressants, (b) field test the effectiveness of the dust suppressants, and (c) develop technical guidelines for selecting and implementing cost effective tailings pond dust control programs. Chemical stabilizers evaluated under field conditions were: Coherax, Calcium Lignosulfonate, Nalco 656, 655, and Magnesium Chloride. Testing in the field utilized a portable field in-situ wind tunnel. The wind tunnel was placed on the tailings surface and simulated wind speeds of up to 80 mph were used to determine wind erosion threshold velocities. Emission rate testing was performed with the wind tunnel through the use of a real-time cascade impactor. A control cost effectiveness evaluation was performed to determine how efficient the chemical stabilizers were on a dollars expended per acre basis.

Jan 1, 1983

By J. B. Forrester

In the operation of the coal mines in Utah few adverse conditions confront us. Physical conditions for the economical extraction of the coal are as near perfect as it is possible for them to be. Still several obstacles are encountered to keep up our interest and prevent us from getting in a rut. Of these I shall speak only of Burning, Wants, and Sluffing of Ribs. Should one travel the outcrop from Ivy Creek in Emery county to the Utah-Colorado line, there would be one outstanding feature indelible impressed upon one's mind. That feature is the omnipresent indications of burning in place. Viewing the eastern escarpment of the Wasatch Plateau from a distance, many splotches of dark red are plainly seen always lying above the coal floor. This stratum is a felspathic sandstone, appearing as a white line running the full length of the above escarpment and about midway between the floor of the valley and the top of the plateau. The coal bearing complex consists of shales, sandstones and coal. This complex varies from two hundred to eleven hundred feet in thickness. The number of coal seams are exceedingly variable. As a rule the argilutites form the bulk of this complex. This material is baked by the burning of the coal and the iron present is oxidized to the ferric state, coloring the shale to a dark red. This baked material forms a shingle tales that in places cover the entire complex. It is natural to expect that the most extensive burning is in the canyons facing to the south and east and on the south slopes of the ridges running to the east or west. Such, indeed, is the case. Still in this arid region many crop fires have existed upon the north slopes, especially in those canyons that face to the east. In fact today, instances are not rare where grassy north slopes, heavily timbered with balsam and fir that have attained a diameter of 14 to 24 inches, are found growing upon the disintegrated baked shingle and later development proves that the coal has been burned at least 500 feet back from the outcrop. Still these conditions are not normal. In this arid climate the south and east exposures are steep and barren, except for the scrub pine, cedar, mahogany and kindred semixerophytes. Bunch grass is also a lover of such exposures. There is very little soil found in such places; it is either blown away as fast as formed or washed away by the rare torrential rains, or the rapidly melting snow. Thus we see that the physical conditions are favorable for the starting and maintainence of outcrop fires. This brings us to the probable origin of this phenomenon. There are four probable ways' that such fires, could be started, namely:

Jan 1, 1921

By L. C. IlsLey, M. W. Von Bernewitz

"Introduction.Several hundred thousand open lights are daily carried in coal mines of the United States, each lamp being a menace to life and property through fire or explosion. They have been responsible for many disasters in the past, and will be again. Flame safety lamps have been available for over a hundred years, but during the last ten years safe and practical electric lamps have been perfected. These have eliminated many of the flame safety lamps, and in a few mines have replaced open flame lamps. But there are still more than twice as many open lamps as electric lamps in our mines, and the open lamps should be discarded in favor of an approved type of electric lamp. There are several electric miners' lamps which have been approved by the Bureau of Mines for safety and efficiency, give good light, and are easily maintained and carried, some flame safety lamps will always be used, hut mostly for detecting gas; although they might be supplanted if some simple, reliable, and cheap gas detector were developed.Explosion Hazards from Open Lights.An open light and gas*** constitute a vicious hazard; while if there be coal dust present in the vicinity the consequences are multiplied many times. An open light and black blasting powder also constitute an explosion hazard, vividly attested by several serious disasters."

Jan 1, 1924

By Laura McNally

In 2006 McNally International Inc. in a Joint Venture partnership with Aecon Constructors was the successful bidder on two York Region Tunnel Projects: Bathurst Collector/Langstaff Trunk Sewers; and YDSS Interceptor Sewer 19th Avenue Project. These projects comprise a total of 13 kilometres of 2.74 meter finished diameter tunnels and are both part of the York Durham Sewer System (YDSS). Both contracts require the use of EPB tunnel boring machines with a precast concrete segmental liner. The following provides an overview the two projects.

Jan 1, 2008

By A-A Latscha, C Boyle

Geological modelling has historically been done using sectional interpretation of paper sections or on a computer screen. Boundaries of geological units or grade shells are interpreted by a geologist section by section and the shapes are drawn onto paper to be digitised later or they are directly digitised into a computer. This approach is referred to as explicit modelling. Such methods are time consuming if there are many section lines or boundaries to be interpreted. The number of metres drilled and resource models made is increasing each year and it will be difficult to keep up using explicit modelling methods. Alternatively, it is possible to use information carried in the drill holes, known geological relationships and point estimation methods in two or three dimensions, to create similar geology boundaries, while eliminating or at least greatly reducing the need to manually interpret and digitise detailed sectional interpretations. Such methods are referred to as implicit modelling and are available in a number of software packages. Implicit modelling approaches have been used in iron ore and found to significantly reduce the time needed for modelling while producing results that are comparable or better than standard explicit modelling approaches. A number of case studies have been undertaken of implicit modelling in iron ore deposits. Stratigraphic surfaces of bedded, folded and faulted iron ore deposits have been modelled in various deposits by Leapfrog Geo, GOCAD (with SKUA) and Vulcan Integrated Stratigraphic Modelling. Leapfrog Mining was used to model iron grade shells at particular cut-off grades. The modelled surfaces are of a high standard equivalent to those that could be produced by traditional explicit modelling but the time required by the implicit methods is far less. Implicit geological modelling is an active area of software development and improvements in software are likely.CITATION:Boyle, C and Latscha, A-A, 2013. Implicit geological modelling of iron ore deposits, in Proceedings Iron Ore 2013 , pp 57-66 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By J. C. Gerdeen

It is of upmost importance to keep the size of the program to a minimum for the computer being used. One way is to reduce the size of the data bank by adjusting the large common array A in the main program (page, line 32) and the statement following the assignment of A. The current value of A is 35001 and is optimized for the UNIVAC computer with 5,000 words of useable storage. Another way to reduce the required storage is to overlay the program. That is, to have in the computer only the subroutines which are being used. In large finite element codes, overlays or segmentation of the program is a necessity. The code presented here has three levels of segments and are presented graphically in the tree in Figure D-1.

Jan 1, 1976

By None None

Use this month wisely — go online and take advantage of your new member benefit. As an SME member, you can read and download for free all of the full-text papers of the Mining, Metallurgy & Exploration (MME) journal, including the 22 papers in the launch Special Issue on Mineral and Metallurgical Processing in Honor of Professor Emeritus Douglas W. Fuerstenau as well as the archived articles of Minerals & Metallurgical Processing (MMP), all the way back to Vol. 1, No. 1. Just follow the instructions on this page.

Water Balancing in Mineral Processing - Issues and Opportunities

Sep 13, 2010

By W. F. Dietrich

1. On St. Thomas and St. Croix, and possibly also on St. John, low-quality red-burning clays probably can be developed to provide the major part of the raw materials for structural clay products and earthenware pottery. 2. The potential sales volume for structural clay products is too small to sustain a plant in the Virgin Islands to manufacture such products in competition with Puerto Rico; however, handmade patio tile might be produced successfully. 3. The market for pottery utility wares in the Virgin Islands is too small to justify a plant devoted solely to the production of such wares; but it may be feasible to evolve a diversified community activity to make jugs, pots, casseroles, bowls, charcoal burners, patio tile, and other items.

Jan 1, 1955

By A. MacG. Robertson

A cone penetrometer has been used to assess the level of stress existing in hydraulically placed mine backill. The test apparatus was fabricated at the mine and consisted of a steel cone, connector rods and a hydraulic jack. Testing was carried out from a manway passing through the centre of the stope. The cone was pushed horizontally into the fill, both at right angles and parallel to the orientation of the stope walls, and the resistance to penetration was measured. Corrections were made to allow for friction along the rods. In a cohesionless sand, such as mine fill, the point resistance should be directly related to the in situ stress. The stresses in mine backfill are due to o the self weight of the fill o convergence of the footwall and hangingwall of the stope. Silo theory was used to estimate that component of the in situ stress due to the self weight of the fill. The difference between the stress predicted by silo theory and the stress estimated from the cone resistance was assumed to be due to convergence of the stope walls.

Jan 1, 1986

By Alexander Siefert, Steffen Pankoke

In the development of commercial vehicles as well as of passenger cars, the effects of vehicle vibrations on operating safety, health and comfort can only be predicted by numerical simulation when appropriate occupant models are available. Such models must be based on human anatomy and have dynamic properties of real humans in order to achieve realistic results. Since human dynamic behavior depend on posture and percentile, the occupant model needs to be adjustable to these parameters with respect to geometry and dynamic properties [1,2]. Dynamic Human Finite-Element-Model CASIMIR CASIMIR is a non-linear, dynamic finite-element-model of the human body. It consists of a dynamic model of the upper torso with head, neck, shoulders and arms as well as of a dynamic model of the lower extremity with pelvis and legs. The most important part is the lumbar area with dynamic non-linear models of the lumbar spine and of back and abdominal musculature. The frequency-dependent characteristics of the intervertebral discs and the effects of muscle activation and non-linear frequency-dependent muscle properties are included. In the latest stage of development, CASIMIR has been equipped with a compliant model of the body surface in the contact areas to the seat. This results in a very realistic transmission of static and vibrational forces into the human body, see fig. 1. Intense model verification and validation has been performed in all stages of model development, starting with validation of small components like intervertebral disc, ending with validation of whole-body-vibrations using measurements of the dynamic mass / mechanical impedance [4]. For an in-detail examination of stresses in the vertebral bodies and discs, a non-linear submodel of the lumbar spine with an increased number of degrees of freedom can be coupled to the whole-body-model, enabling the researcher to examine local effects of vibrations and single shocks on the lumbar materials. [ ] Since it is well known that human dynamic behavior is significantly affected by anthropometric data and posture, CASIMIR can be individualized to the anthropometric status of single individuals or to the mean values for specific percentile groups. Furthermore, posture can be adjusted to the seating conditions applicable to a specific vehicle. Posture modification capabilities include the variation of the lumbar lordosis [3].

Jan 6, 2006

By P. Niessen, W. C. Winegard, C. J. Beingessner

DURING the last 10 years, several grain-growth studies have been made using zone-refined metals with controlled amounts of solute to elucidate the interaction of solute with moving boundaries. In all these studies, it was more or less implicitly assumed that the alloys used were, after recrystallization and grain growth, homogeneous within the grains with respect to solute and lattice defects. This note deals with observations made on microstructures originating from solidification of dilute alloys and from grain growth. Briefly, the experimental procedure used in these studies was the following: zone-refined cadmium and master alloys were melted and cast in Pyrex under vacuum to produce bars 14 mm in diam and about 150 mm long. These bars were cut into 8-mm-thick slices which were mechanically and chemically polished. The specimens were then deformed 30 pct in compression and given a 1-week anneal at 260°C in argon. After this anneal, a second deformation produced completely recrystallized samples 4 mm thick. The time-temperature controlled anneals were carried out in a bath of silicone oil. After the grain-growth anneal, the specimens were polished in Gil-man's' solution (33 g CrOs, 6 g NazSO, in 100 ml of water). Several etches were used depending on the alloy investigated, but mostly a mixture of concentrated HC1 and HNOj (98:2 vol) was employed. In all the alloys examined, the ease with which substructures could be revealed depended strongly on the crystallographic orientation of the surfaces of the grains. However, very frequently the microstructures to be discussed here etched up over broad areas comprising several grains. Fig. 1 is a micrograph of a Cd-0.05 at. pct Mg alloy annealed for 100 sec at 270°C. Different substructures are seen in this photograph. A denotes the now existing grain boundaries. The well-defined lines and points marked B are the remains of a solidification substructure. The lines are boundaries between cell colonies, and the points are nodes located on regular two-dimensional cells. This cellular structure has the same appearance as that found by weinberg2 for rapidly quenched Zn-Au alloys. The "ghost boundaries", marked C, are very similar in appearance to a grain boundary array in a polycrystalline sample. Repeated polishing and etching showed that all the substructures observed were three-dimensional. To date, the ghost boundaries have been clearly observed in all samples containing 0.005, 0.01, 0.05, and 1 at. pct Mg, and in samples containing 0.01 at. pct Zn. Attempts to outline these ghost boundaries in cadmium alloys containing 0.01 at. pct Ag and Au were only partially successful. In these alloys, parallel lines, having a resemblance to the ghost boundaries in the Cd-Mg and Cd-Zn alloys, were observed, but it was not possible to obtain complete arrays of ghost boundaries which extended over several grains. It is possible that a different etch than that presently employed would reveal the ghost boundaries in the Cd-Au and Cd-Ag alloys as clearly as in the Cd-Zn and Cd-Mg alloys. A close examination of the ghost structure showed that it consisted of linear etch-pit arrays, Fig. 2. The ghost boundaries were resolvable even in grains which showed over-all faceting due to the etching, as seen in the corner of Fig. 2. The general appearance of the ghost structure suggests that it originated during grain growth. This is supported by the observation that the mesh width in the ghost-boundary array generally increased with increasing final grain size. To test whether the ghost structure was formed during the long homogenizing anneal or during the grain-growth anneal, some as-cast samples were deformed and given a grain-growth anneal. This anneal was terminated by air cooling or

Jan 1, 1967

Coal has been mined in the central Appalachian coalfields of southern West Virginia, western Virginia, and eastern Kentucky for more than a century. The dwindling reserve base consists in large part of coal that would have been considered unmineable by earlier generations. Nearly every current operation is working on a property where coal has been extracted in the past, from seams either above, below, or both. NIOSH is conducting research aimed at helping mine planners prevent hazardous conditions due to multiple seam interactions. To-date, more than 300 case histories have been collected from underground mines, mainly from central Appalachia. This paper focuses on several of the more challenging situations that have been encountered, including: • Room-and-pillar development 20 ft (6 m) beneath full extraction workings at a depth of 1,000 ft (300m) of cover (Virginia) • Pillar recovery 45 ft above full extraction workings at 900 ft (270 m) of cover (Virginia) • Near-simultaneous room-and-pillar mining with pillar recovery with 40 ft (12 m) of interburden and 1,500-2,000 ft (450-600 m) of cover (Kentucky) • Longwall mining directly beneath main entries in overlying seams (West Virginia) • Some of these operations have been highly successful in overcoming the challenges, others less so. The lessons learned from their experience will help ensure that these and similar difficult reserves can be mined safely.

By F. T. Cawood

The distinction between real estate ownership and that of interests in the property is fundamental to the appraisal of mineral properties. This distinction affects the nature and understanding of security of tenure and, consequently, the perception of what constitutes fair value. Legal matters are a particular concern because of their influence on security of tenure, ownership definition and use restrictions. The dynamics of the market and the complex interrelationships between the factors of production define value at a specific point in time for the bundle of rights, interests and assets that constitute a mineral property. Because each mineral property is unique, physically immobile and of a wasting nature, its usefulness to its owner and society must be optimized. The US Appraisal Institute (2001) classified the forces that affect land use as the cultural, political and economic attitudes of society. These forces culminate in laws that often dictate the purposes for doing appraisals. Once the legal definition of the asset is understood, valuers can decide on the valuation process that will support the final valuation approach.

Jan 1, 2004