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By E. V. Lilford

Valuators of mineral properties are faced with a range of valuation methodologies, the most important of which are grouped under the headings of the market approach, the cost approach and the income approach. The way in which value is defined and the detail of the different valuation methodologies is examined here. This paper aims at documenting the variety of valuation procedures and applying each method to a variety of gold projects and comparing the outcomes. Any decision to apply a valuation technique will depend principally on the stage to which the project has been developed. The valuation approach to a greenfield project will be substantially different from that applied to a well-drilled, extensively explored mineral property. Furthermore, a valuation exercise may produce different outcomes for the same gold project depending on which method is applied. In order to investigate the variability in valuation methods and to explore the outcomes of different approaches, a series of five gold projects was analysed. The projects differ in regard to levels of capital application, infrastructural setting, depth below surface, in situ grade, and the stage of development, and were valued using the different methods. The most critical aspect of any valuation is the capacity of the valuer to identify the salient issues and ensure that they are incorporated into the valuation. The danger of simply applying ?black box? solutions to valuation problems without a full understanding of the parameters and the areas of uncertainty is emphasized. The importance of the valuator?s experience, insights into best practice and the ability to recognize and submit to the requirements of compliance within the minerals industry is among the most important characteristics of a valuer.

Jan 1, 2005

Recent U.S. mine disasters identified a need for improved training of miners in escape from mine fires and explosions. Researchers at the National Institute for Occupational Safety and Health?s (NIOSH) Spokane Research Laboratory (SRL) have designed fire-escape training software for use in a mine-safety training course. The software allows four trainees to work together in a virtual world via a computer network. Trainees responded favorably and showed a marked improvement in locating the proper evacuation routes on subsequent trials. In collaboration with the Pittsburgh Research Laboratory (PRL), a more elaborate fire evacuation scenario is being developed. Further study is needed to confirm that virtual training will translate to improved safety outcomes in the real world. Keywords: virtual reality (VR), safety, training, mining, mine fire evacuation

Jan 1, 2009

By C. C. Hamilton, G. R. Lane

Traditionally, mineral sands are evaluated by preparing several mineral products using a combination of heavy liquid-, magnetic-, and electrostatic methods. Whole-rock assays (WRA) are then conducted on ilmenite, rutile and zircon products in order to determine trace element contents, which may affect project feasibility. Combined methods can be time consuming, expensive and even outdated due to the use of banned and toxic chemicals such as clerici solution. Coupled with large field-sample quantities, these procedures can potentially introduce unacceptable sampling and related errors. Modern mineralogical analysis techniques can provide complete mineralogical inventories on a single THM product, reducing the amount of processing involved in satisfactory characterization of early exploration samples. A small exploration sample can be processed to produce a small THM concentrate using readily available gravity/density methods. In turn, the THM product is submitted for Whole Rock Analysis (WRA) and mineralogical inspection by X-ray diffraction (XRD), and microscopic evaluation. Modal mineralogy and textural data can be determined using optical methods, automated image analysis, and scanning electron microscope (SEM) based systems. Benefits of automation are reproducibility and the capability of rapidly analysing thousands of particles as opposed to manual optical methods. Automated systems include the use of Automated Digital Image Analysis (ADIS), and SEM-based systems such as the Mineral Liberation Analyser (MLA) and QemSCAN. For detailed mineral chemistry, microanalysis techniques ranging from electron microprobe (EMPA) to Secondary Ion Mass Spectrometry and Laser Ablation Mass-Induced Coupled Plasma-Mass Spectrometry (LAM-ICP-MS) are used. Examples of these automated and analytical methods are presented. ADIS at SGS-Lakefield Research uses optical characteristics to identify and measure mineral species in THM samples; rutile, pseudorutile, ilmenite and leucoxene can be distinguished. Analysis of a single THM product provides bulk modal mineralogy and grain size distribution of particles and the individual mineral grains. Textural information is also obtained detailing mineral associations as well as degree of alteration. Where textural and chemical resolution renders mineral identification ambiguous, SEM-based methods offer better resolution. Examples of this ambiguity are shown in this paper, which leads to QemSCAN as the preferred method where within-grain variability is concerned. Sampling and measurement strategies are followed to meet study objectives, providing a value-added framework for a sequential, cost-effective strategy, which will meet due diligence and bankable accreditation criteria. Studying a THM product by electron microprobe and LAMICP-MS may reveal potential fatal flaws related to mineral chemistry. Low detection limits in the range of 200 to 500ppm are possible using electron microprobe analysis for suitable matrixes (U, Th in zircon). For the detection of ultra low level elemental contaminants, LAM ICPMS is the most accurate method of evaluation. Elements including U, Th, La, Ce, Nb, and V in Ti-minerals can be determined down to 50 ppm.

Jan 1, 2005

By William R. Yernberg

The Society of Economic Geologists (SEG) held its biennial conference May 14 through 16, 2006, in Keystone, CO. SEG is an international organization with about 3,500 individual members with interests in economic geology. The 2006 SEG conference theme was “Wealth creation in the minerals industry — integrating science, business and education.” The conference exceeded expectations with 705 participants, including 102 students, from 44 countries. The conference featured 30 oral presentations, 24 professional posters and more than 70 student posters. The conference also included a trade show with 50 vendors, numerous field trips, workshops and social activities.

Jan 1, 2006

By H. W. Fleming

In 1955, the results of a regional, geological interpretation of the northern portion of New Brunswick were used as a basis for selecting, for intensive exploration, three areas in which structural and stratigraphic conditions were believed to be favourable. Airborne electromagnetic work, in one of these areas, provided the justification for acquiring the Murray group. Even though the initial results were discouraging, this geological interpretation, combined with the fortuitous discovery of cop• per-bearing float, was sufficient reason for carrying out further work using geochemical methods. This work finally resulted in the discovery of the Murray massive-sulphide deposit, after about eighteen months of coordinated exploration on the property. While this deposit is a typical New Brunswick-type base-metal occurrence, extensive leaching has produced a fossil gossan that rendered it an elusive target for exploration techniques of limited penetration Full credit for localizing the target area is given to the geochemical techniques, but geophysical surveys were needed to provide the necessary

Jan 1, 1961

By P Lotz

With the recent increase in environmental awareness, gold mining companies are fast becoming signatories of the International Cyanide Management Code (ICMI, 2007). The objective of the Code is to improve the management of cyanide used in gold mining and to assist in the protection of human health and the reduction of environmental impacts associated with the use of cyanide. In particular the code specifies the following cyanide concentration limits: 50 ppm WAD cyanide in a tailings storage facility, 0.5 ppm WAD cyanide for effluents, and 0.022 ppm free cyanide or 0.022 ppm WAD cyanide as surrogate in the post mixing zone of river discharge. Weak acid dissociable (WAD) cyanide refers to those cyanide species liberated at a moderate pH of 4.5, such as HCN(aq) and CN-, and the majority of Zn, Cd, Cu, Ni and Ag complexes with low dissociation constants. It is potentially toxic to humans and animals. Gold plants using cyanide should ideally measure WAD cyanide online and destroy WAD cyanide in excess of the applicable limits to ensure compliance with the Code. Mintek has recently developed an online WAD cyanide analyser (WAD Cynoprobe). The WAD cyanide analysis technique is based on the use of a ligand exchange reagent that liberates WAD cyanide bound to metals such as Zn, Cd, Cu, Ni and Ag. The ligand exchange reaction is represented by the following chemical equation: Metal(CN)X + yLigand ↔ Metal(Ligand)y + xCN- The plant filtrate is treated with a ligand exchange reagent, to liberate WAD cyanide, before measuring the free cyanide concentration via amperometry. The WAD Cynoprobe measures both free and WAD cyanide concentration. Its fast analysis time, approximately five minutes, makes it suitable for use in the control and optimisation of the cyanide destruction and recovery process. The instrument has proven accurate and reliable in the analysis of synthetic copper, nickel and zinc cyanide solutions made up in the laboratory as well as under industrial gold plant conditions during various trials. The WAD Cynoprobe has gained widespread commercial acceptance and is currently implemented on nine gold plants around the world.

Jan 1, 2007

By David Meadows, John Starkey

"As part of the ongoing project development for the Tenke Fungurume Copper-Cobalt Project in the Democratic Republic of Congo, Phelps Dodge Corporation has examined methodologies for determining the size of grinding mills to support a 7000 mtpd operation. Six samples were tested by Hazen Research, Inc. (HRI) to obtain the JK parameters using the JK Drop Weight Test, standard Bond crushing, and rod mill work indices, abrasion indices and by Dawson for Bond Ball Mill Work Index tests using crushed feed, and Standard Autogenous Grinding Design (SAGDesign) Tests, patented by Outokumpu. (See reference 8 below).The comparison of these results gives context to how the various measurements relate to each other and how they can be used to obtain an accurate design for the grinding mills required for the Tenke Project. This is the first published direct comparison between JK Drop Weight, standard bond work indices, and SAGDesign test results. The SAGDesign test includes a SAG test followed by a Bond BM Wi test done on SAG ground material.INTRODUCTIONAfter the presentation of the paper “SAGDesign Testing – What It Is and Why It Works” at the recently concluded SAG 2006 Conference in Vancouver, a question was asked about how SAGDesign ore hardness measurements compared with other comminution tests, specifically the JK Drop Weight Test and the parameters that are derived from such testing. At that time it was noted that a paper was being prepared for the CMP Conference in January to show how various ore hardness measurements compare with each other when done on the same samples.This paper will therefore present the first such comparison using test results from the Phelps Dodge Tenke Fungurume Project where six composite samples were examined by the tests noted below. A seventh sample was tested at Dawson but not at other labs. The tests were done at four different laboratories listed below and included the tests shown."

Jan 1, 2007

Instability in rockpasses at deep levels often initiates as a result of stress induced fracturing of the rock on the walls of the pass. This may then progress to a stage at which the geological structure of the rock mass becomes dominant and permits large joint-defined blocks and slabs to become unstable. In this paper, a technique is described in which jointing parameters and their variabilities?orientations, spacings and lengths?are taken into account in estimating the extent of failure that may develop around a typical unsupported deep level gold mine rockpass. The results of this prediction are compared with the results obtained from a review of pass performance in the gold mining industry.

Jan 1, 2005

By K. Ding

The thermodynamic activity of MnO was measured in MnO-CaO-MgO-SiO2slags that are typically encountered in the production of manganese containing stainless steels. Gas equilibration-quenching technique was employed in measuring the activities. Activity of Mn in Pt-Mn alloys were redetermined at 1600°C which reconfirmed earlier results of strong negative deviations. MnO activities were then measured by equilibrating slags of various compositions based on a statistical experimental design procedure with Pt-Mn alloys under controlled partial pressure of oxygen in MnO saturated platinum crucibles at 1600°C. Activities of MnO were found to increase with increasing concentration of MnO, basicity and CaO to MgO ratio. Two multi-coefficient repression models were developed to predict the activities and activity coefficients of MnO in slags at 1600°C. Keywords: activity, MnO, slag.

Jan 1, 2004

By G. Barbery

"Particle composition distribution is an essential feature of materials processed by physical separation methods. The amenability to segregate a feed material in a concentrate and a tailings stream depends to a large extent on what is called usually the ""liberation"" of the various mineral phases that are present in an ore. In fact the energy consumed in crushing and grinding has the major justification of producing particles that are as close as possible to monominerallic. Monophasic particles are able to reveal physical differences in mineral properties that make their separation possible. For many years, various authors have insisted on the concept of liberation, without noting that, in practice, it can be a pure concept which does not lead to measurements or predictions. The present paper insists on the concept of particle composition distribution, in which the complete distribution is the information to be obtained, and not the ""liberation·· of various phases, just like for particle size distribution, the complete distribution is an objective commonly desired, and not one or two values representing the coarse or fine fraction.2. NOTATIONS-EQUATIONSFor the purpose of the paper, a particle will be characterized by its volume Vp, and its volumetric composition with respect to a mineral of interest, which will be given the notation ""O"". All the other minerals present will be called ""1"". This notation does not imply that the particles are biphasic, but that we are interested in the composition of particles with respect to one phase only. The volumetric composition will be given the sybol m:"

Jan 1, 1986

By William R. Yernberg

The combined 80th Annual Minnesota Section of SME Meeting and 68th Annual University of Minnesota Mining Symposium was held April 17 and 18, 2007, in Duluth, MN. About 350 mining industry professionals attended the conference, including engineers, executives, mining managers and suppliers from the United States, Canada, Australia, Finland and Brazil. This year’s theme was “Consolidation – Growth – Technology.” The 80th Annual Minnesota Section of SME meeting included concurrent technical papers sessions, a keynote session that featured two distinguished speakers and a general managers session in which taconite mine operators provided updates on their operations. The Minnesota Section meeting also offered an SME short course titled “Control the Feed, Control the Mill.” More than 50 individuals at-tended the short course.

Jan 1, 2007

With a price slowly rising above US$35 per ounce gold became a mineral worthy of prospecting and mining endeavour in the early to mid 1970s. Fortune therefore appeared to smile onNew Zealand with its favourable geological environment for gold and past record of major gold production from both hard rock and placer deposits. This was a particularly welcome development as the post war years, including both the base metal exploration boom of 1967/1971 (which produced major nickel, iron and bauxite mines in Australia) and the earlier period of uranium exploration failed to produce any mines in New Zealand with the exception of the small Tui Mine and iron sand mining. Whilst hard rock mining now appears imminent it is 15 years further along the track since the 1967/1971 exploration boom and eight years since the upsurge in prospecting for gold in 1978. New Zealand still has no hard rock base or precious metal mining. This is not for want of proven or potential gold mining situations for these clearly exist at Waihi, Monowai Reef, Golden Cross, MacRaes Flat and elsewhere.

Jan 1, 1986

By Mark E. Emerson

1967 will be remembered as the year the world realized it was running out of silver. In May of this year a new era in tin the history of the white metal was begun as the power of the U.S. Treasury to regulate world .silver markets was staggered by one of the most intense speculative flurries in recent times. In the past few months the price of silver has risen from $1, 29 to over $1.80 per troy ounce and with it have spiraled the prices of a host of silver-bearing consumer items. Legislation has, been enacted to conserve our coinage and meager silver stocks and today large quantities of non-existent silver are trading hands at a fast pace on the commodity exchanges throughout the world. Now that the price of silver has been set loose, forces are in motion to dull the world's appetite for silver. At the same time there is strong incentive to provide greater quantities of silver to satisfy the world's hunger' for the metal.

Jan 1, 1967

By A. S. Macfarlane

The South African Institute of Mining and Metallurgy was approached by the Australian Institute of Mining and Metallurgy to present a paper on the current practice in terms of the valuation of mineral projects and properties, given the development of a Code for the Valuation of Mineral Properties, developed in Australia (the VALMIN Code), and a similar Code in Canada (the CIMVal Code).This paper is the result of research and investigation into the matter, in terms of the reporting of Mineral Resources and Reserves, financial reporting practice, the Listing Rules of the Johannesburg Securities Exchange, and various practices in valuation. The paper establishes that a strong linkage has already been established between the SAMREC Code for the reporting of Mineral Resources and Reserves and the Listing Rules, and that, for completeness, a Code for Valuation needs to be developed. This Code will be similar to its international counterparts, with the necessary inclusions which are relevant to South Africa, and will provide guidelines and definitions on matters such as transparency, materiality and competency in valuation. It proposes that a multi-stakeholder steering committee be established under the auspices of the SAIMM, to deliberate and design a process for establishing such a Code.

Jan 1, 2002

By Orhan Gokce Goksu

It has been shown that metallic tungsten powder can be obtained by electrochemical reduction of solid CaWO4 in molten CaCl2-NaCl eutectic mixture at 600oC. In this study, constant and pulse voltage electrolysis experiments were performed to optimize reduction kinetics and obtain information about the mechanism of above process. It was found that pulse voltage applications yield faster reduction rates when average voltage of pulse voltage application was the same as constant voltage application. In addition, analysis of the current vs. time graphs of constant and pulse voltage electrolysis studies showed that reduction occurs at potential differences higher than about 2.2 V between CaWO4 cathode and graphite rod anode.

Jan 1, 2010

By Lucia Kuizon

The Cactus Springs Roadless Area Review and Evaluation (RARE II) study area (No. A5188) comprises 12,800 net acres (5,180 ha) in San Bernardino National Forest in west central Riverside County, California, about 20 air miles (32 km) southeast of Palm Springs. Mineral investigations are made by the U.S. Bureau of Mines on National Forest lands identified as Further Planning Areas in the RARE II program. The Bureau of Mines reviewed literature, mining claim records, and production files; examined the study area; and mapped and sampled mineral properties where appropriate.

Jan 1, 1983

By Eric S. Weiss

The National Institute for Occupational Safety and Health (NIOSH) and the Mine Safety and Health Administration (MSHA) conducted joint research to evaluate explosion blast effects on typical U.S. mine ventilation stoppings in the NIOSH Pittsburgh Research Laboratory?s (PRL) Lake Lynn Experimental Mine (LLEM). An innovative Australian-designed brattice stop-ping was also evaluated. After mine explosion accidents, MSHA conducts investigations to determine the cause(s) as a means to prevent future occurrences. As part of these postexplosion investigations, the condition of underground stoppings, including the debris from damaged stoppings, is documented as evidence of the approximate strength and the direction of the explosion forces. The LLEM data showed that a typical dry-stacked and coated solid-concrete-block stopping survived a total explosion pressure of ~6.7 psi (~46 kPa) and was destroyed at a total explosion pressure of ~7.6 psi (~52 kPa). In comparison, a typical dry-stacked and coated hollow-core concrete block stopping survived a total explosion pressure of ~3.4?4.3 psi (~23?30 kPa) and was destroyed at a total explosion pressure of ~3.6?5.2 psi (~25?36 kPa), depending on the length of the pressure pulse and the value of the pressure-time integral. A typical steel panel stopping design survived a total explosion pressure of 0.8 psi (5.5 kPa) and failed at a total explosion pressure of 1.3 psi (9 kPa). The LLEM data also showed that an obstacle blocking the path of a pressure wave resulted in a higher reflected pressure at the obstacle. An 8-in (20-cm) thick wet-laid solid-concrete-block stopping coated on one side survived a total explosion pressure of ~26 psi (~180 kPa); this stopping was not tested to failure. A 6-in (15-cm) thick wet-laid solid-concrete-block stopping coated on one side survived a total explosion pressure of ~14 psi (~97 kPa) and was destroyed at a total explosion pressure of ~25 psi (~172 kPa). An innovative Australian woven cloth stopping survived an explosion pressure of 4.0 psi (27 kPa) and was destroyed at an explosion pressure of ~6.1 psi (~42 kPa). These results will help investigators determine the approximate explosion forces that destroy or damage stoppings during actual coal mine explosions.

Jan 1, 2008

By César Arce

El presente texto establece una plataforma de comunicación oficial entre la empresa y sus socios estratégicos logrando la estandarización del comportamiento empresarial y humano en temas relacionados con medio ambiente, salud, seguridad, relaciones con las comunidades, recursos humanos y la legislación vigente. En este sentido, las empresas que trabajan en forma directa o indirecta para el titular, impactarán directamente en los resultados y reputación del mismo, sino mantienen una visión, objetivos y comportamientos similares

Sep 9, 2007

The paper deals with the importance of design and of codes of practice in ensuring safe working conditions in mines. The design principles involved in the design process are dealt with, and the importance of a logical design process is emphasized. The links between the requirements for developing a code of practice, embodied in the existing guidelines for the preparation of such a code, and the design principles and process are considered in some detail. Finally, suggestions are included, which may provide improvements to the code and hence, ultimately, lead to further improvement in safe working conditions.

Jan 1, 2004

By Finn Ouchterlony, José A. Sanchidrián

"A model for fragmentation in bench blasting that originates from dimensional analysis of fragmentation in asteroid collisions is presented. Percentiles of the size distribution are obtained in the basic model as the product of a rock strength-to-explosive energy ratio, a bench shape factor, a scale factor or characteristic size and a percentage passing-related factor. The parameters of the model are fitted to 169 bench blasts in different sites and rock types, bench geometries and delay times, for which thefragmentation of the muckpile was obtained by sieving. The basic model is found to significantlyimprove with an additional factor describing the rock mass structure in terms of the spacing and orientation of discontinuities, and another one describing the delay between successive contiguous shots; the latter is conveniently formulated as a function of the P-wave velocity and the holes spacing. The rock strength property chosen is the strain energy at rupture that, together with the explosive energy density in the rock (or energy powder factor), forms a combined rock strength/explosive energy nondimensionalfactor. The model, called xP-frag, is applicable from 5 to 100 percentile fragment sizes, with all parameters determined from the fits significant to a 0.05 level. The expected error of the prediction is below 25 % at any percentile. These errors are half to one third of the errors expected with the best prediction models available to date."

Jan 1, 2017