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By H. L. Monro

Contribution by B. K. Martust I congratulate the author on his interesting paper. In my view, the establishment of the level at which South African gold output is at some kind of optimum is an interesting though somewhat academic exercise. Contribution by D. M. Hawkins* The thesis of the paper is a very interesting one, but, before it is used as the basis of any firm proposals to restructure the mining industry, which changes may be irreversible, one should be very sure that the basis of the calculations is sound. Contribution by P. J. Niewenhuizen* The hypothesis advanced by Mr Monro that the demonetization of gold in August 1971 introduced a major new policy variable, namely the supply-pricejdemand-price relationships, into the decision making process touches on a matter that has never really been given serious thought by the industry. Contribution by B. G. Kingsman* As a co-worker on the development of an econometric model for supply and demand in the world gold market with Mr H. L. Monro, it would perhaps be useful for me to make some comments on the various points raised in the discussions on his paper.

Jan 1, 1984

By P. C. Parsons, G. C. Milligan

"IN FIELD WORK in the Cape Breton Highlands, which are heavily covered with vegetation, it is necessary to run traverses along the valleys of small brooks. We encountered difficulty in closing such traverses, and the following technique was developed to solve this problem. It has been tested in the field for four seasons by several people, and found to be simple, efficient and more accurate than any other compass-and-pace system of which we are aware. So far as we can find, the technique has not been described previously. It may be of use to others.The Cape Breton Highlands of Nova Scotia consist of hills of old intrusive and metamorphosed sedimentary rocks protruding up to 1,000 feet above the general level of the younger sediments which underlie the valleys. The flat hill-tops are the remnants of a plateau; drainage off the edge of this plateau has produced many small steep brooks. They occupy valleys which are up to 800 feet deep, and V-shaped in cross section, with steep sides covered by mixed conifers and hardwoods. The stream at the bottom is rarely more than a few feet wide, with a negligible meander belt, but with many bends, rapids and falls. Visibility along the stream, in consequence, is rarely more than a few hundred feet, and in many places much less.It was found impractical to map the streams by the method of meander lines, as described in many standard surveying texts and hand-books. The limited visibility, and the numerous bends of the brooks, necessitated many corners. Every corner introduces errors. To 'close' a survey with 40 or 50 such corners proved either very time-consuming or impossible. In most cases, however, the general direction of a valley may be obtained from an aerial photograph, or by direct observation, and this became the basis of the method adopted."

Jan 1, 1971

By Kenneth Robertson

ALL, strangers visiting this district are struck with the peculiar manner in which the pig-iron is graded. There are eleven regular grades, besides which, when gray forge is ordered, one-half of Nos. 1 and 2 Mill are shipped. Occasionally there is another grade Known as Silver Mill, which is made so seldom that I cannot describe it, and have no sample to exhibit. Most of you have found it difficult to grade properly and uniformly under the simpler system which obtains elsewhere, and can consequently readily imagine the increased difficulty with us. Each furnace employs an " expert," and even with this precaution, the system is not conducive, at all times, to amicable relations between buyers and sellers. I am told that it was adopted at the time Southern irons were seeking a market; but it still remains, although the time has come when our iron is sought for and has obtained for itself a place in the markets of the country. The grades are as follows:

Jan 1, 1889

By P. K. Lucke

One of the interesting features connected with the great continental uplift, which formed the table land of Mexico, is the great depth to which oxidation and secondary enrichment of orebodies occurred. This table land lies at altitudes ranging from 4000 to 7000 ft. (1219 to 2133 m.) above sea level. Several cases could be cited of oxidized zones in copper and lead mines which reached depths of upward of 1500 ft. (457 m.) below the surface, and it is universally admitted that the oxidized zone in a mine is limited by the permanent water level. Mexico, however, like many other countries in which deserts occur, is visited at rare intervals by tremendous floods, which sometimes cause variable water levels over long periods. The following cases bear out the idea, and lead to interesting conclusions of commercial value. My paper demonstrates that carbonates of ores may occur below water level and sulfides above, and I will endeavor to explain the causes of the phenomena in certain specific instances. Case I.—Fig. 1 in this case shows that sulfides of lead remained

Jan 1, 1920

By John Durkin

This report discusses the configuration and system deployment for the postdisaster surface seismic system for detecting and locating trapped miners. It analyzes the results of 15 field tests to define a signal model, background noise levels, and subarray performance. A waveform modeling procedure is described and compared with observed waveforms. The resulting similarity indicates that the major factors affecting the signal amplitude, waveform, and spectral character are understood. A model is presented which gives the sig-nal amplitude as a function of source type, source depth, and horizontal off-set between source and receiver. Using this model a curve is presented which gives the range at which a signal will be detected for different signal and noise levels. Finally, and most important relative to the mission of the system, the ability of the system to detect signals on one or more subarrays is put into a probabilistic framework. For a strong source it is almost certain that a subarray directly over the source will detect the signal. After signal processing, it is highly likely that signals will be detected on sufficient subarrays to locate the trapped miner. Location errors have been found to be less than 100 ft in the majority of cases. Techniques have been used that can reduce the location errors to this level even when soil layer variation between subarrays is severe.

Jan 1, 1981

By Joel K. Waterland

GENERAL DESCRIPTION Homestake Mining Co.'s operations are at Lead, SD. Production from the various methods used are: 1 155 753 t/a (1,274,000 stpy) by open cut-and-fill, 68 039 t/a (75,000 stpy) by square set cut-and-fill, 144242 t/a (159,000 stpy) by shrinkage stoping, 107 048 t/ a (118,000 stpy) by blasthole stoping, and 67 132 t/a (74,000 stpy) in development work for a total of 1 542 214 t/a (1,700,000 stpy). Mining takes place from the 616-m (2000-ft) level to the 2073-m (6800 ft) level (Fig. 1). The average travel time to the stope is 45 min. GENERAL ORE BODY REQUIREMENTS AND LIMITATIONS Size, Shape, and Dip of Ore Body Six major ledges varying from 914 m (3000 ft) long by 228.6 m (750 ft) wide to 305 m (1000 ft) long by 122 m (400 ft) wide are mined. Within these ledges are irregular-shaped areas of varying sizes. These ledges dip at approximately 1.2 rad (70°) to the east and plunge to the south from 0.26 to 1.57 rad (15° to 90°). Ground Conditions The ore is cummingtonite (chlorite schist) which is very competent except for major bedding planes and fracture patterns. The footwall is a slate but because of the dip presents very few problems. The hanging wall is also a slate which because of the dip and bedding is very weak and requires considerable rockbolting. No problem has been encountered with rock bursts to a depth of 2438 m (8000 ft). Ore Value The ore values vary somewhat from ledge to ledge, but the average ore delivered to the mill is approxi¬mately 6.2 g (0.2 oz) of gold per ton. A small amount of silver is the only byproduct of this operation. Annual production of gold is approximately 10 575 183 g (340,000 troy oz). Production Requirements The mine has a mill capacity of approximately 1 723 651 t (1,900,000 st) but because of several fac¬tors (manpower, depth, etc.) this mill capacity has not been attainable for the past several years.

Jan 1, 1982

By Luis Noval Noval García

El objetivo de la ventilación es desarrollar una atmósfera saludable, segura y apta para la realización del trabajo por parte del personal. En ese sentido, el presente texto señala los gases como problemas comunes presentados dentro del ambiente minero tales como asfixia por anoxia (caso de inhalación) intoxicación, envenenamiento y muerte (letal) e inflamación y explosión (Productos). Para eliminar estos riesgos se debe eliminar las causas a través de una buena ventilación. Asimismo, es necesario conocer las propiedades de los gases, disponer de equipos para detectar su presencia y procurar los medios para eliminarlos.

Sep 1, 1984

By Scott K. Palm, Neil D. Pearson, Jr. Read

"Uncertainty is an important feature of many investments, but it is especially important for mineral properties. Mine properties often entail large investments and fixed commitments. Managers in the mining industry often view price uncertainty as undesirable, due to the possibility that the price of the mined commodity will fall to a level that prevents the firm from recovering its investment and fixed costs. This paper identifies pitfalls in conventional valuation methods and outlines a new approach to valuation based on option pricing theory and dynamic programming. In the process, it identifies generic strategies for organizing mine production in ways that allow the owner to benefit from the uncertainty in mineral prices. IntroductionRisk is pervasive in the mining industry. The operation and maintenance of a mine may involve high, and unavoidable, fixed costs. A mine owner can only begin to recover these fixed costs if the price of the mined commodity is greater than the incremental cost of production. But the prices of many minerals are extremely volatile. The price volatility of copper has been significantly higher than the price volatility of a typical stock, for example. A mine owner cannot be sure that the price of the mineral product will remain high long enough for the firm to recover its capital and fixed costs.Mine owners are able to minimize their losses during periods when the output price is below the incremental cost of production by temporarily closing operations. During these periods they incur only fixed costs. While shut-downs help minimize losses, the y do not help the firm recover its initial investment. If output prices remain low long enough, the fixed costs and original investment may never be recovered. High fixed costs, therefore, lead to substantial downside risk."

Jan 1, 1986

By Ana Carolina dos Reis Lima

Este artigo tem o objetivo de apresentar a capacidade de remoção de íons Pb2+ de um argilomineral oriundo da região sudoeste do Pará. A caracterização do argilomineral foi feita através das técnicas de Difração de Raios-X (DRX) e Microscopia Eletrônica de Varredura (MEV). A metodologia utilizada foi a do sistema de banho finito para determinação da percentagem de remoção (%Rem) do argilomineral. Foram utilizadas três concentrações sintéticas de chumbo (10, 30 e 50ppm) com diferentes pH (3, 4 e 5) para avaliação da absorção de íons pelo argilomineral. Ainda, este argilomineral foi revestido com quitosana com previsão de aumentar a adsorção dos íons Pb2+. Os resultados mostraram o potencial de adsorção acima de 95% para todas as concentrações em pH 5; e a adição de quitosana aumentou esse potencial para acima de 99%. Em pH 4, a, a quitosana proporcionou aumento na percentagem de remoção na concentração de 10ppm. Isso implica em uma potencial aplicação para remoção de metais pesados em efluentes da região sudoeste do Pará em vista da extração de minério presente nesta região.

Oct 30, 2017

By Hatch, A. Reple, W Valery

The mining industry is facing declining feed grades which require the mining and processing of larger volumes of material per tonne of product. Pre-concentration aims to remove barren material at as coarse a particle size and as early in the process as possible to reduce processing costs, energy consumption, water losses, and greenhouse gas emissions while increasing production and profitability. This may be achieved using bulk ore sorting—the separation of barren gangue from a fully loaded conveyor belt based on the grade as measured or inferred from a sensor. This paper evaluates the technical and economic viability of bulk ore sorting for the PanAust Phu Kham copper deposit in Lao PDR. Bulk ore sorting technology is described briefly along with discussion of appropriate sensor and diversion systems for the Phu Kham operation. To evaluate the economic implications, the actual mined material and costs from 2014 were used as the base-case. Sampling data was not available; therefore, the ore grade variability that would feed a bulk ore sorter was estimated using geo-statistical tools based on mine grade control data. The sorter performance when treating this material was simulated considering the accuracy of the sensor measurement and errors associated with material diversion. The impact on inferred cash flow was estimated for several different scenarios considering the additional costs for sorter operation and reject handling. The evaluation demonstrated that bulk ore sorting at Phu Kham has the potential to increase the amount of metal in product and/or reduce processing plant throughput (and costs) to improve the annual inferred cash flow for the conditions investigated. The sorter is the gatekeeper – only material above the cut-off grade (value-adding) reports to the processing plant; no waste dilutes the feed. Likewise, above cutoff grade material is not lost to waste; preventing lost revenue.

Jan 1, 2016

By M. Saghaeian, R. Hejazi, H. Abedini

Vertical ring and Pulsating Wet High Intensity Magnetic Separator (VP-WHIMS) is widely used for week magnetic mineral beneficiation or ferrous impurity removal from non-metallic minerals. Because of the complexity of this machine, mathematical modelling of its process is complicated and time consuming. In this paper, artificial neural network (ANN) and response surface methodology (RSM) were applied to evaluate the VP-WHIMS performance and optimize its main operating parameters in beneficiating of the Chadormalu hematite sample. The operational parameters of this magnetic separator are considered as: magnetic field intensity (2500-8500 gauss), pulsating frequency (20-100 %max), ring rotation speed (0.6-4.6 r/min) and slurry concentration (15-35 w/w %). Concentrate grade and recoveries (weight and Fe) are monitored as responses. Centre composite design (CCD) was used for experimental study. Four process variables were set using small CCD. Eight star points (a=±1), eight axial points (a=±2) and five replicates at the centre point (a=0) were chosen as experimental points. In ANN system, the best network topology was obtained as (4-5-3). The weights connection and biases were obtained using batch back propagation (BBP) method for 21 experimental data points. The results indicate that ANN

Jan 1, 2014

By R. L. Marek

The number of Persons fatally injured in the petroleum industry in California in 1930 was 50, a decrease of 20.6 per cent from 1929, when 63 men accidentally lost their lives. The decrease in the number of fatalities for 1930 has caused the first downward trend in the fatality curve of the California petroleum industry since 1927 and is coincident with a period of little active development in new fields, the shutting in of many wells, and reduced activity in the older fields of the State. That a direct relationship exists between the number of accidental deaths and the rapidity of new field development is particularly emphasized by the fact that in 1929, a year of intensive field development in California, 48 men were killed in the drilling and producing division, whereas in 1930, a year of less development work, only 25 men were killed in this division. The figures for the average number of drilling and producing wells in 1930 decreased appreciably from comparable figures for 1929 and a greater percentage of producing wells were shut-in in 1930 than in 1929.

Jan 1, 1931

By E. Maziar Sauber

In order to prepare a more desirable feedstock for a rare earth elements separation refinery, cerium, a penalty element in the refinery feedstock, should be removed from the mixed rare earth elements oxide or carbonate feedstock. In this study, cerium (III) to cerium (IV) oxidation by calcium hypochlorite and subsequent precipitation was used to remove cerium from a mixed rare earth elements chloride solution. A factorial design of experiments was used to determine the effect of process variables such as temperature, pH, and oxidizer addition on the oxidation of cerium (III) using synthetic solutions. Under certain test conditions, all of the cerium was successfully removed from the chloride solution, and some REE accompanied cerium and reported to the precipitate. This proposed technology can allow for low cost removal of cerium from mixed rare earth elements chlorides.

By Fabiano Mendes

Processos industriais de carbonização são tecnologias maduras e operam há mais de 7 décadas. Contudo, o sistema integrado de produção de ferro primário e aços a base de biomassa como fonte de energia e termorredutor, mesmo sendo a alternativa ambiental de menor impacto existente, chega a seus limites tecnológicos, ambiental e econômico, ameaçando a sua sustentabilidade. O grupo Vallourec buscou o processo Lambiotte como base tecnológica para desenvolver seu ambicioso projeto de carbonização contínua, em substituição ao processo artesanal de fornos retangulares de batelada, utilizados atualmente. O esforço experimental de mais de meia década, com a adaptação e profunda reengenharia do processo Lambiotte, que é o que melhor representa esta classe de reatores, para que ele atendesse as condições brasileiras e o uso das espécies de madeira da família dos Eucaliptos culminou no desenvolvimento do processo de carbonização continua Carboval, que demonstrou sua plena capacidade, para atender aspectos econômicos, sustentáveis e de qualidade siderúrgica do carvão vegetal produzido.

Aug 17, 2017

By R. L. Marek

The number of persons fatally injured in the petroleum industry in California in 1930 was 50, a decrease of 20.6 per cent from 1929, when 63 men accidentally lost their lives. The decrease in the number of fatalities for 1930 has caused the first downward trend in the fatality curve of the California petroleum industry since 1927 and is coincident with a period of little active development in new fields, the shutting in of many wells, and reduced activity in the older fields of the State. That a direct relationship exists between the number of accidental deaths and the rapidity of new field development is particularly emphasized by the fact that in 1929, a year of intensive field development in California, 48 men were killed in the drilling and producing division, whereas in 1930, a year of less development work, only 25 men were killed in this division. The figures for the average number of drilling and producing wells in 1930 decreased appreciably from, comparable figures for 1929 and a greater percentage of producing wells were shut-in in 1930 than in 1929.

Jan 1, 1931

By Ralph E. Esarey, George V. Cohee

In Indiana, 349 wells were drilled for oil and gas in the year 1942. Of this number, 125 oil wells and 21 gas wells were successfully completed and 203 were dry holes. Drilling activity declined 37 per cent as compared with that of the year 1941. This reduction was brought about largely by Federal Conservation Order M-68, restricting drilling to one well on 40 acres, in order to save steel. This Order was later supplemented to permit closer spacing of wells drilled to sandstone formations in southwestern Indiana. Most of the drilling in 1942 was in the southwestern part of the state. Posey County ranked first, with 94 completions and 44 producers; Gibson County, second, with 77 completions and 38 producing oil wells and 2 gas wells. There were 58 drilling operations in the state at the end of the year. During 1942 a total of 589,734 ft. of hole was drilled, of which 231,702 ft. was wildcat footage. The total initial production of the oil wells completed was 9974 bbl. and of the gas wells, 11,148,000 cu. ft. (Table 2). Of the 349 wells completed, 122 were wildcat wells (Table 3); 26 were completed as oil wells; 17 were extensions to proven fields and 9 discovered new pools. Posey County was foremost in wildcat drilling, with 37 wells completed (Table 6). Thirty-five per cent of the wells drilled in 1942 were wildcat, as compared with 25.5 per cent in 1941. It is anticipated that the percentage of wildcat wells drilled in 1943 will be greater, although the total number ol ,wells drilled in the state will probably be less. The new discoveries in Indiana in I942 were, for the most part, one-well pools in the southwestern part—in Posey, Gibson and Spencer Counties (Table 4). Most of the development in pools took place in the . Hazelton and Kirksville pools in Gibson County, Mr. Vernon pool in Posey County and the Vernon Heights pool in Vander-burgh County. Deeper production was obtained from the Osage limestone in the Hazelton pool at a depth of 2402 ft., 650 ft. below the productive McClosky limestone. The well had an initial production of 140 barrels. Extensions to 17 pools in the southwestern part of the state were successfully completed (Table 5). An interesting development during 1942 was new production from the Devonian limestone in the Dodds Bridge pool, Sullivan County. The Ohio Oil Co. deepened one of its wells, which had been producing from a shallow sand, to the,Devonian, and it was completed for an initial production of 77 bbl. Five other Devonian producing wells were completed in that area. Crude-oil production in Indiana in 1942 was 6,609,000 bbl. (Table I). The Griffin field, Gibson and Posey Counties, which produced approximately 3,550,000 bbl., accounted for more than half of the state's production. The Mt, Vernon and New Harmony fields were next in importance of production, with 684,000 and 523,000 bbl., respectively. The price of crude oil was $1.22 a barrel for the old

Jan 1, 1943

By George V. Cohee, Ralph E. Esarey

In Indiana, 349 wells were drilled for oil and gas in the year 1942. Of this number, 125 oil wells and 21 gas wells were successfully completed and 203 were dry holes. Drilling activity declined 37 per cent as compared with that of the year 1941. This reduction was brought about largely by Federal Conservation Order M-68, restricting drilling to one well on 40 acres, in order to save steel. This Order was later supplemented to permit closer spacing of wells drilled to sandstone formations in southwestern Indiana. Most of the drilling in 1942 was in the southwestern part of the state. Posey County ranked first, with 94 completions and 44 producers; Gibson County, second, with 77 completions and 38 producing oil wells and 2 gas wells. There were 58 drilling operations in the state at the end of the year. During 1942 a total of 589,734 ft. of hole was drilled, of which 231,702 ft. was wildcat footage. The total initial production of the oil wells completed was 9974 bbl. and of the gas wells, 11,148,000 cu. ft. (Table 2). Of the 349 wells completed, 122 were wildcat wells (Table 3); 26 were completed as oil wells; 17 were extensions to proven fields and 9 discovered new pools. Posey County was foremost in wildcat drilling, with 37 wells completed (Table 6). Thirty-five per cent of the wells drilled in 1942 were wildcat, as compared with 25.5 per cent in 1941. It is anticipated that the percentage of wildcat wells drilled in 1943 will be greater, although the total number ol ,wells drilled in the state will probably be less. The new discoveries in Indiana in I942 were, for the most part, one-well pools in the southwestern part—in Posey, Gibson and Spencer Counties (Table 4). Most of the development in pools took place in the . Hazelton and Kirksville pools in Gibson County, Mr. Vernon pool in Posey County and the Vernon Heights pool in Vander-burgh County. Deeper production was obtained from the Osage limestone in the Hazelton pool at a depth of 2402 ft., 650 ft. below the productive McClosky limestone. The well had an initial production of 140 barrels. Extensions to 17 pools in the southwestern part of the state were successfully completed (Table 5). An interesting development during 1942 was new production from the Devonian limestone in the Dodds Bridge pool, Sullivan County. The Ohio Oil Co. deepened one of its wells, which had been producing from a shallow sand, to the,Devonian, and it was completed for an initial production of 77 bbl. Five other Devonian producing wells were completed in that area. Crude-oil production in Indiana in 1942 was 6,609,000 bbl. (Table I). The Griffin field, Gibson and Posey Counties, which produced approximately 3,550,000 bbl., accounted for more than half of the state's production. The Mt, Vernon and New Harmony fields were next in importance of production, with 684,000 and 523,000 bbl., respectively. The price of crude oil was $1.22 a barrel for the old

Jan 1, 1943

By J B. Pateiro-Fernßndez, M Fuchsschwanz, G Deissmann, S Ahmad

Quang Ninh province is the most significant coal producing region in the north of Vietnam. The Nui Beo Coal Company (NBCC) operates open pit mines in Quang Ninh province and the waste overburden produced is dumped as sidehill fill in the Chinh Bac waste dump site. In the past, no special consideration has been given to the environmental impacts during the dumping operations. The mine waste is transported in trucks from the mine site to the dumping site and the loading, hauling and dumping operations are the main sources of dust emission. Rain events, especially during the rainy season, cause the generation of contaminated surface water as well as seepage of water through the dump at a number of locations. The existence of cracks at the top of the dump can pose serious stability problems with heavy rain events leading to failure of slopes which can potentially disturb vast areas of land currently used for agricultural purposes and human settlement. For sustainable development at the Chinh Bac waste dump site in the future, apart from the social and economic considerations to be assessed, there is an absolute necessity for environmental protection measures to be in place both during and after the dumping of the mine waste overburden. Research Association Mining and Environment in Vietnam (RAME) is working to develop and implement concepts for the mitigation of environmental problems emerging from dust, contaminated water and lacking slope stability to ensure successful rehabilitation of the coal mine waste dumps in the north of Vietnam. Within the framework of RAME, the Institute of Mining Engineering I (RWTH Aachen University) is managing and working to develop the stabilisation concepts for the solid mine waste dump in collaboration with the Chair of Geotechnical Engineering (RWTH Aachen University), Brenk Systemplanung and the Vietnamese group of companies VINACOMIN (Vietnam National Coal-Mineral Industries Group). The most economical and environmentally sound operations, as well as locally adaptable environmental protection measures, are essential for the sustainable development of the dumping operations at Chinh Bac dump. This paper describes the dump site and the sustainable development possibilities with an emphasis on the environmental protection and stability problems at the Chinh Bac waste dump.

Jan 1, 2009

By J. Cayouette, . Blatter, P. Cousin

The Laronde mill was commissioned in 1988 and has been treating the Laronde Perim ore since 2000. The Laronde plant, situated in the Abitibi region of Quebec, has experienced mill expansions to accommodate 7500 mtpd and to recover gold and silver as well as important amounts of base metals (Cu, Zn, Pb). Ten sequential metallurgical and environmental processes are responsible for metals recovery and process viability. Over 200,000 ounces of gold, 4,5 million ounces of silver, 7000 tonnes of copper, and 78,000 tonnes of zinc are produced annually. In 2008, the Goldex plant began trucking high wade (35-45 Wt Au) pyrite sulphide concentrate (TCGO) for gold extraction at a newly constructed treatment plant, increasing gold output at Laronde by 40,000 ounces. In 2009, the high gold wade Lapa ore processing facilities were annexed to the Laronde plant increasing output by 120,000 ounces of gold. TCGO and Lapa productions are forecasted until 2018 and 2015 respectively, with known reserves of each mine. Today, up to 140 permanent employees run and optimise the Laronde plant operation. As a result, Laronde has intricacies intrinsic to a large and varied operation. The paper will outline the metallurgical highlights, challenges, and future outlook related to the treatment of each ore type (Laronde, TCGO, and Lapa)

Jan 1, 2011

By L. A. Cramer

There are a couple of dozen junior platinum mining companies coming into existence in Southern African and most intend to mine, concentrate the PGM?s in a flotation product and sell the concentrate to one of the major producers in South Africa. The price they will receive for their product and hence the return they achieve for their investment will depend upon the large number of factors that influence the market for such a product. Unfortunately the number of buyers is severely limited as it is dominated by the two major local producers, Impala Platinum and Anglo Platinum. Furthermore the current smelting technology has limited capacity for UG2 concentrates and high nickel concentrates will quickly fill any available base metal refining capacity. Few if any overseas buyers can compete for the bulky flotation concentrate produced. This paper will explore those factors such as metal recoveries, metal prices, operating costs, capacity constraints, deleterious elements, transport issues, metal premiums and discounts that are in play, types of flotation concentrates, processing capital costs, PGM grades, etc and their impact up on what smelters and refiners might be prepared to pay for such PGM concentrates. Ultimately simple graphs and equations can be developed for probably payment terms for such concentrates. Those who negotiate well will move to the higher return section of the envelope and those who use the concentrator facilities to produce the most saleable combination of flotation concentrates will enhance their returns. A deep and firm understanding of the issues surrounding this market is necessary in order to negotiate the best possible price for the seller.

Jan 1, 2008