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By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By The Hollinger Mill Staff

ALTHOUGH cylindrical grinding mills have long been used, there is wide divergence of opinion as to what constitute best operating conditions. Questions such as mill diameter, diameter-length ratio, revolutions per minute, type and size of grinding media, volume of charge, circulating load, pulp level, pulp consistency, liner design, and size of feed, have all been given serious consideration by competent scientific investigators as well as by operators. While many laboratory and plant tests have been made that would seem to justify certain definite conclusions, there is a dearth of definite data giving actual results obtained when a grinding mill working between fixed limits is operated at its maximum capacity under varying conditions as to ball load, circulating load, speed, etc. In tests conducted recently at the Hollinger, extending over a period of thirteen months, to determine the best operating conditions for a ball-mill 6 ft. 6 in. diameter inside the liners, some very interesting facts have been ascertained. This paper is presented in the desire to make public the results of these tests and not with the idea that the last word has been spoken in regard to grinding. We feel, however, that these facts justify certain definite conclusions and hope that, by the fullest and frankest criticism and discussion, the essentials necessary for the correct design and operation of grinding mills will become better known.

Jan 1, 1937

By H. Foster Bain

Steel for any large structure must be imported, the Hanyang works being entirely unable to supply local demand. The United States Steel Products Co. has warehouses and small stocks at Shanghai and at normal times there are heavy importations from Europe. It is difficult to obtain any accurate index of prices, but comparison of customs valuations with Pittsburgh quotations shows angles, bars and plates to have averaged $10 gold per ton higher in China in 1914, while on galvanized and tinned plates the excess was- $38 per ton. The margin since has been greater. Previous to the war little machinery was manufactured in China. There were shipyards at Shanghai and at Hong Kong which built a small number of engines, and small foundry and repair works are found at a number of ports. Their capacity was limited and the difficulties and delays incident to transport in China so numerous that in practice every important mine has a small foundry, boiler works, and machine shop. This must be taken into account in plans for work in the country. While skilled workmen can be found it is to be noted that most of them have been trained

Jan 1, 1921

By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

By R. van Heerden, T. R. Stacey

In the challenging environments of deep-level, narrow tabular orebody gold mines in South Africa, rock mass classification offers a potential method for predicting hazardous areas and optimising rock support systems. This study evaluates the applicability of various rock mass classification systems, with a focus on the Modified or Mining Rock Mass Rating system tailored for high-stress, deep-level mining conditions. Extensive data collection was conducted at Kusasalethu Mine, involving underground mapping and analysis of the 2020/2021 fall of ground database. The Mining Rock Mass Rating system was adapted to the unique geological and operational conditions, providing a simplified, user-friendly approach for rock engineering and geology personnel. Results indicate that this adapted Mining Rock Mass Rating system effectively quantifies rock mass conditions and influences proactive mining adjustments. The study’s findings highlight the system's capability to enhance understanding of rock mass behaviour and substantially mitigate the occurrence of rockfalls and ground collapses. Further application and refinement of the system are recommended to continuously improve mining safety and efficiency.

Oct 24, 2025

By Kunio Nakahara, Kashiwagim Junichi, Takao Hayashi

"There are many problems for electronic devices and parts which were caused electrostatic damage by static electricity. It is necessary for prevention of electrostatic charge to decrease surface resistivity of material using electroconductive coating. Mitsui Mining & Smelting Co., Ltd. developed metal oxide type electroconductive pigment PASSTRAN (trade mark) Type-IV which is barium sulfate coated with SnOz(Sb) thin electroconductive layer. This paper shows about pigment characteristics and film condition of antistatic transparency paint which contained PASS TRAN.L.IntroductionRecently rapid development of electronics technology diffused electronic devices and products to Office, Factory, Laboratory and our life. But the other side, there are many problems for electronics parts which were caused electrostatic damage under static electricity. Demand of antistatic materials were become lager by this situation.There is close relationship between surface resistivity of material and static electricity. If the surface resistivity of object is enough low (under 109 Q /Sq), static electricity is dissipated quickly. So it is necessary for prevention of electrostatic charge to decrease surface resistivity of material using electroconductive coating.1) There are many type of electroconductive materials, for example, carbon black, metal powder, electroconductive polymer and so on. Especially, carbon black is used for general purpose by reason of its low cost, but it has big problem of black color. It can not get any color without black, and it caused contamination of carbon.In recent years, metal oxide electroconductive pigment (ECP) was developed and used for special purpose which demands transparent coating or easy dispersion to make ECP paint or endurance under hard environment and so on. Mitsui Mining & Smelting Co., Ltd. developed electroconductive pigment PASSTRAN Type-IV which is BaS04 coated with electro-conductive Tin oxide layer."

Jan 1, 1998

By Eugene H. Skinner

The U.S. Bureau of Mines conducted experiments on the use of lightweight concrete in the density range of 100 Ib/ft3 for liners in underground mines. Three test sections were completed: a monolithic, portal-type structure with integral walls and arch constructed aboveground; an underground test section constructed in a mine drift using plywood forms; and a second section constructed in a drift using an air-supported formwork. The lightweight concrete in the two underground test sections was placed using piston pumps and a slickline. Fiber reinforcement was added to the concrete in the mine sections without any apparent problems with either pumping or placement of the concrete. In another experiment, the Bureau and Hecla Mining Co., Mullan, rD, used lightweight concrete in the density range of 25 Iblfe to replace timber blocking in a raise preparation structure. Other experiments are described in which low-density, lightweight concrete blocks were produced for mine ventilation doors, stoppings, and barricades. Other mine uses reviewed include pillars and collapsing beams. An advantage of low-density concrete is that it will display up to 50% deformation at a constant yield stress. These hlllovative concepts in deformable concrete lining systems will aid mine operators by decreasing capital and maintenance costs, increasing the available space in underground haulageways, and providing productivity gains and improved resource recovery in the soft, caving, squeezing, or bursting grollnu conditions often found in deep mines.

Jan 1, 1989

By D. J. Hallbom

This paper presents a novel methodology for the hydraulic design of mine backfill distribution systems. The ?operating range? method uses the concepts of the hydraulic grade line and equivalent pipe length to determine flows and pressures as the pipeline route and static head change over the life of the mine. The operating range method is easy to learn because it is semi-graphical and uses well-known design concepts (e.g., the hydraulic grade line) and slurry design models (e.g., the Durand deposition velocity model). However, by changing the paradigm in which these concepts are used, the operating method allows all potential pipeline cases to be analysed simultaneously without the need to know the exact pipe routing. It also allows the hydraulics engineer to quickly identify ?pinch points? and ?slack flow? zones, to estimate the effect of changing the size or length of any given section of pipe, to assess the impact of changing the material properties of the backfill slurry, to size the slurry pumps, and to size and locate rupture discs when required.

May 1, 2007

By Scott A. Stebbins

This Bureau of Mines publication presents a method for estimating capital and operating costs associated with the exploration, mining, and processing of placer deposits. To ensure representative cost estimates, operational parameters for placering equipment and basic principles of placer mining techniques are detailed.

Jan 1, 1987

By Hao Deng, Hongmin Zhu, Jichao Li, Kai Huang

"Silicon and silicon carbide mixing micropowders obtained from the saw cutting industry of polycrystalline silicon ingot is separated by a simple sequential sedimentation. The Zeta potentials of the powders in the aqueous suspension are adjusted by varying the pHs with dilute acid or alkaline reagents. The dispersion and aggregation content of the microparticles is significantly influenced by pHs, and so their settlement velocity in the same hydraulic conditions are quite different, and silicon powders tend to suspend in the upper section of the suspension for its finer size and smaller density under the stronger Zeta potential repulsion force. The original content of the cutting powders with 30%wt silicon are separated into the Si-rich and SiC-rich powder respectively, and 62%wt Si-rich powder can be obtained after 4 times of sedimentation under pH = 8.0, showing the great potential for Si and SiC powder separation and recovery in a cost-effective way.IntroductionWith the fast development of photovoltaic (PV) technology these years, the market demand for the solar-grade high pure silicon material significantly increased, making the silicon recycling and recovery from the wire sawing slurry profitable and attractive[1]. Waste silicon slurry was produced in the multi-wire sawing process of a silicon ingot by using an ethylene glycol-based solution and silicon carbide abrasives as the slicing system. During this slicing process, about 30% of the silicon ingot will become the waste as the fine particles suspended in the slurry, which mainly consists of silicon kerf-loss particles, SiC fragmental particles, tiny iron fragments from the worn sawing wire and ethylene glycol-based solution [2]. The separation of above individual component is usually easy except for Si and SiC fine particles for their quite similar properties. So the biggest challenge for the effective recovery and recycling of silicon particles from the wire sawing slurry actually lies in the mutual separation of silicon and silicon carbide particles."

Jan 1, 2012

Quickly and cheaply consolidate underground slimes to facilitate their use as backfill and permit their easy handling for other reasons. Approach: The slurry containing slimes is pumped into active stopes and electrokinetically dewatered to provide consolidated back fill. How It Works: To densify slimes electro-kinetically two electrodes are placed in the material to be dewatered and densified. Typically, the electrodes are pieces of wire mesh fencing. One is placed on the bottom, and the other is suspended in the slurry near the surface. Figure 1 is a simplified section of a test. A d-c voltage of 100 to 400 volts is applied across the slurry. This causes the solid particles which are in suspension in the water (usually these are negatively charged) to migrate toward the anode; simultaneously, the water moves toward the cathode. Water immediately adjacent to the negatively charged solid particle surfaces contains an excess of dissolved positive ions. When these ions are attracted to the electrode and move towards it, they also exert

Jan 1, 1976

By J. D. Zhu, T. Ohmichi, H. Yasuda, S. Kashiwai, I. Ohnaka

"Since the casting process affects the properties of castings, its computer simulation has been greatly developed in the last decades. This paper presents our recent works, especially on mold filling simulation, because most casting defects such as porosities and inclusions that greatly affect the properties originate during mold filling. The first topic is the mold filling simulation with consideration of cavity pressure change during mold filling, including direct observation of flow phenomena with X-ray and pressure measurement. The second .one is the mold filling simulation in the lost foam process, in which gasification of polystyrene pattern and gas outflow through the coating and mold have been considered. The simulation can predict not only the mold filling sequences but also periodical vibration of the gas layer between the melt and pattern. The third one is the comparison of simulation of Al melt flow in a metallic runner and direct observation through a transparent mold, showing that the entrapped gas or inclusions is expelled ahead through the melt and its simulation needs very fine meshes. These examples show that the comparison of simulation and observation is very important to develop the numerical simulation further.IntroductionThe mechanical properties of castings are greatly affected by casting defects such as porosities and inclusions, and solidification structure. Although recently the structure simulation has greatly progressed [1-4 ], the application in plants is very limited, because the structure is mostly determined by chemical compositions and cooling rate, enabling us to estimate it from the structure of past similar castings without simulation.On the other hand, the casting defects often vary with each casting or time. Among the defects, porosities and inclusions are main causes to deteriorate the properties and mostly originate during mold filling. Therefore, a lot of efforts to simulate the mold filling and estimate those defects have been made in the last decades [l,5,6]. These efforts have been mostly to develop numerical techniques to solve the Navier-Stokes equation. However, the flow phenomena in molds have not been well understood, because the direct observation of the flow phenomena in mold is not easy. This means the accuracy of the simulation is still not clear."

Jan 1, 2000

By James D. Bittner

Separation Technologies, LLC (ST) has developed a processing system based on triboelectric charging and electrostatic separation that provides the mineral processing industry a means to beneficiate fine materials with an entirely dry technology. The environmentally friendly process can eliminate wet processing and required drying of the final material. The process requires little if any pre-treatment of the material other than grinding and operates at high capacity ? up to 40 tonnes per hour by a compact machine. Energy consumption is low, approximately 1 kWh/tonne of material processed. Since the only potential emission of the process is dust, permitting is typically relatively easy. In contrast to the other available electrostatic separation processes that are typically limited to particles greater than 75 µm in size, the ST belt separator is ideally suited for separation of very fine (<1 µm) to moderately coarse (300 µm) materials with very high throughputs. The triboelectric particle charging is effective for a wide range of materials and only requires particle ? particle contact. The small gap, high electric field, counter current flow, vigorous particle-particle agitation and self-cleaning action of the belt on the electrodes are the critical features of the ST separator. The high efficiency multi-stage separation through charging / recharging and internal recycle results in far superior separations and is effective on fine materials that cannot be separated at all by the conventional electrostatic techniques. Since 1995, this triboelectric process has been extensively used for the beneficiation of coal fly ash with eighteen separators in place and over 130 machine-years of operation at locations in North America and Europe. ST has also installed separators for the beneficiation of industrial minerals in North America and Europe. The technology has been successfully applied to the beneficiation of a variety of minerals including calcium carbonates, talc, barite, and potash.

Aug 1, 2013

By K. Sasaki, H. Miki, Y. Muta, T. Hirajima, G. P. W. Suyantara

"Selective flotation of chalcopyrite and molybdenite is continuing problem since its selectivity is not perfect and current NaHS process needs closed system flotation plant because of hydrogen sulfide emission on acidic condition. Some alternative additives investigated as chalcopyrite became hydrophilic and molybdenite kept hydrophobic. XPS analysis indicated chalcopyrite became hydrophilic since iron and copper sulphate, hydroxide was covered on the surface whereas molybdenite kept hydrophobic since only molybdenite can be seen. Flotation experiments of chalcopyrite and molybdenite mixture sample indicated excellent separation that 95% of molybdenite can be recovered as froth and 93% of chalcopyrite can be recovered as sink. Flotation experiments with real bulk flotation concentration indicated similar separation result compared with current NaHS additive system. Possible mechanisms and detailed phenomenon were investigated based on the surface analysis and thermodynamic calculation etc. this alternative additive is easy to handle compared with NaHS since it does not emit effluent gas and commercially preferable.INTRODUCTIONMany copper mine often associates molybdenite (MoS2) as trace mineral. It is important to separate molybdenite and copper mineral efficiently since molybdenite is valuable mineral and also contamination of molybdenite into copper concentrate decrease concentrate value. Conventional separation of copper sulfide and molybdenite has been achieved with sulfide bulk flotation followed by selective molybdenite flotation with NaHS addition since NaHS works as a depressant for copper sulfide (Bulatovic, 2010; Ansari and Pawlik, 2007b). However, this current process shows imperfect molybdenite recovery (Liu et al., 2012, Zanin et al., 2009) and depressant such as NaHS needs to be used under specific flotation plant since it might be environmental contaminant (Ansari and Pawlik, 2007a). there are still unknown on the effect of depressant NaHS, but one of the theory is NaHS reductant effect. It is worth to investigate the effect of other reductant as depressant on chalcopyrite. On this research, typical reductant, Na2SO3 are added to utilize for selective flotation of chalcopyrite and molybdenite."

Jan 1, 2018

By Lj. D. Andric

By the micronization-milling of the material, the size and the structure of its particles are changed and it comes to the increasing of the potential energy of the system as well as to the chem-ical activity of the material what is the result of an increased free surface and of the concentration of the grate defects, that is of the internal energy of the system. All these changes that are reached, show that new characteristics of treated materials are got by micronization process. Controlling the process of the micronization and by purpose directing of the new characteristics of the activated materials, we can have the positive effects and use them in more technologies. Talc is important nonmetallic mineral raw material that is widely used as either the basic raw material, or as filler. This has stimulated its technological investigation, as well as the investigation of its physical-chemical characteristics. In this paper are shown experimentally reached results of the physical-chemical characteristics of the talc during the process of the micronization in high energetic mill. In this paper, the optimum conditions of miconization of talc in high-energy-speed rotary mill and its influence micronization on a degree of Fe2O3recovery by hydrometallurgical methodes, are presented. The X-ray analysis of the obtained products showed that high quality talc with low content of can be obtained by these physical-chemical processes In this paper, the principles and application or fine and ultra-fine grinding high-energy attriton mill with small balls, enabling fast, efficient grinding, low energy consumption, short grinding time and easy handling will be described.

Jan 1, 2014

By C. H. Larsen

A 9-month study of the uses of wire rope associated with U. S. underground coal mining is reported. Rope applications are broken down into hoisting and nonhoisting applications where "hoisting" refers to transport in vertical and inclined shafts. The former receives the greatest emphasis since it represents the most critical rope application from the stand-point of production and safety. The discussion of hoisting practice includes aspects related to the mine operators as well as those related to the equipment builders and wire rope manufacturers. U. S. state and Federal laws regulating hoisting and wire rope use are also presented and discussed. Canadian and other foreign hoisting practice and laws are included. The state of the art in electromagnetic nondestructive inspection of hoist ropes is presented. Capabilities and use of one Canadian electromagnetic device are discussed in great detail. Conclusions are drawn regarding the present state of wire rope and hoisting technology in U. S. coal mines. Recommendations are made for improving rope practice, in general, and hoisting, in particular, consistent with greater safety.

Jan 1, 1971

These proceedings consist of papers presented at three Bureau of Mines Technology Transfer Seminars on ergonomics in the mining industry. These seminars were held in December 1981, and covered topics relating to ergonomics and mining in the areas of the man-machine interface, and design of the work environment. This area of research is directed toward reducing accidents traditionally associated with human error.

Jan 1, 1981

By S. Becker, M. Gruner

"Microstructure stabilized crushed rock salt is a newly developed backfill material for infrastructural openings in HAW repositories. The motivation for this research is based on the fact that the microstructure stabilized crushed rock salt is considered to be superior to the currently used crushed rock salt. The avoiding of settlements with a simultaneous 100% backfilling of openings, early stabilization of the geological barrier and low permeability (< 10-14 m²) are the main improvements. With the newly developed backfill material, the gap between the crushed rock salt and the saliniferous composite backfill materials is closed. Due to the minimized amount of a binding agent, the material will still be easy to handle like a bulk material, yet guarantees close to 100 % backfill success without any settlements. This is accomplished with a long-term stable re-mineralization that is formed by the components of the binding agent. INTRODUCTION The permanent storage of high active waste in underground geological formations (HAW-repository) is the labored method in Germany as well as internationally. Experiences have been made over the last decades, e.g. in the Waste Isolation Pilot Plant (USA) and the mines Morsleben and Asse (Germany). For this purpose salt formations are preferred as host rock due to the adequate heat conductivity, creep capability, and low permeability. In order to maintain the low permeability of the host rock and to avoid any contact of the stored waste with the biosphere, the formation of flow paths has to be prevented. The cavities which have been mined for the purpose of waste storage have to be backfilled with material that is alike to the host rock. Therefore crushed rock salt is considered as an appropriate backfill material. Crushed rock salt is a bulk material that is produced by mining saliniferous formations. This material is mainly used in underground repositories as a dry backfill that is brought into the cavities by the use of mechanical (loading machine, slinger machine or scraper) or pneumatic energy (pneumatic stowing). In Germany it is intended to use dry crushed rock salt with a maximal grain diameter < 64 mm for backfill in a future repository in saliniferous formations. With this method applied, the porosity of the backfill is up to 35 % [1]."

Jan 1, 2015

By Alexander N. Winchell

"Location. The Cuyuna iron district extends from the region of Kimberly, near the Center of Aitkin County, Minnesota, south-westward through Deerwood, Ironton, and Brainerd, across Crow Wing and Todd counties, across the Mississippi River, and for an unknown distance farther southwest in the same direction. It is known that the Huronian rocks, in which the ores of the Cuyuna district are found, reappear near the western border f Minnesota, but no ores have been found in this region. The district has a length of more than sixty miles, but the more important portion as now known &apos;is confined to Crow Wing County in an area which is less than thirty miles in its longest dimension. The commercial headquarters for the district are in the city f Brainerd, on the Mississippi River.History. The discovery of iron ore in the Cuyuna district was accomplished with no aid from surface outcrops, but solely through the use of the dip needle. The mantle of glacial drift overlying the iron formation varies from twenty-five to 359 feet in thickness, and it was by means f the magnetic attraction of the iron bearing rocks that their presence was discovered with the dip needle by Cuyler Adams, about 1895. The general geologic map of Minnesota, published by the State Geological Survey in 1909, showed the extension of the Huronian rocks of the Mesabi district passing through this area. Two years later, Leith published a sketch showing the hypothetic extension of the iron bearing formation through the same area. The first drilling was done in 1903, near Deerwood, Minn., by Cuyler Adams, and exploration was continued to the present time in increasing amount. The Northern Pacific Railway extends throughout the length of the district and affords an easy outlet for the ores. The Soo Line Railway completed a spur into the district in 1910. Both roads carry the ore to the docks at Supe¬rior, Wis., the average haul being about ninety miles. Shipments began in 1911, the Kennedy mine being the first producer. By 1918, the number of shippers reached twenty-seven, with a total output of nearly two and one-half million tons for that year."

Jan 1, 1920

By B F. J Kelly

Multiple-point simulation is a family of methods used to generate conditional facies simulations that present the same spatial dependence as a user-defined training image. The main advantage of using a training image is the easy integration of geological concepts in numerical subsurface models. The strength of multiple-point methods is that it allows making the best use of geological expertise when data are too sparse for inferring a model of spatial continuity. However, despite being appealing to geologists, the multiple-point methods are often not used in practice due to the difficulty of building complex 3D training images that contain realistic features.A new framework for multiple-point simulation is presented that involves small and simple training images. The main idea is to use random transformations to expand the range of structures available in the simple training image. The training image is not regarded any more as a global conceptual geological model, but rather a basic structural element of the subsurface. Complex geological structures are obtained, whose spatial structure can be parameterised by adjusting the statistics of the random transformations, based on field data or geological context. In most cases, such parameterisation is possible by adjusting two numbers only. One advantage is that the training images are so simple that they can be easily built even in 3D. The method allows building 3D models that reproduce shapes corresponding to a desired prior geological concept and are in phase with different types of field observations, such as orientation, facies or geophysical measurements. The flexibility of the approach allows for naturally integrating different types of data. This is demonstrated on an example involving seismic data assimilation. Examples where complex 3D folded structures are built from a simple training image and a few orientation data are shown.

Sep 26, 2011