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By John F. Dougherty

Recently, there has been much debate as to the relevance of reporting financial results using the conventional accounting systems, which is based on historical costs, during a period of rapid inflation. In the following paragraphs , the symptoms, if not the causes, of inflation, its detrimental effect on the financial soundness of business in general and the financial reporting changes being advocated to overcome perceived weaknesses in the present financial reporting system in accounting for the effects of inflation will be reviewed. Finally, a course of action as a sound approach to the financial reporting problem will be recommended.

Jan 1, 1978

By B. Grinbaum, A. Mazuelos, F. Carranza, N. Iglesias, M. Avila, J. L. Lozano, G. Perez, R. Romero, M. \/aliente

Following a failure of a tailings pond darn at a mine in Andalusia, Spain, a huge effluent stream, that contained about 1 g/1 Zn and significant amounts of ferrous, ferric, calcium, copper, aluminium and manganese cations has to be treated, to prevent pollution of a nature reserve. EGMASA, as the regional government environmental agency, suggested to improve the current depuration process by recovery of the Zn from the effluent. A solvent extraction (SX) followed by electrowinning (EW) was proposed and developed to remove zinc.. A pre-treatment stage consisting in bio-oxidation of ferrous iron by using a bacterial process followed by an alkaline precipitation was employed because iron in the effluent is incompatible with both the SX and the EW processes. The SX process was developed successfully at the laboratory scale and verified in a pilot plant on-site, using two Bateman Pulsed Columns for extraction and stripping of zinc. The results were satisfactory obtaining a recovery of 90% of Zn. The process was suitable for industrial application.

Jan 1, 2008

By George S. Martin, Michael D. Winship

"Placer Dome Inc. is the operator of the Musselwhite project located 100km north of Pickle Lake, Ontario. J.S. Redpath Limited was contracted to conduct an underground exploration program using shaft access.During the winter of1988, the shaft collar was established in 16 metres of water bearing sand and till overburden. This paper will illustrates the engineering techniques used to overcome the obstacles to installing a shaft collar in deep overburden. Specialized dewatering and piling procedures were employed.INTRODUCTIONHarold and Allan Musselwhite discovered gold in the Opapimiskan Lake area, north of Pickle Lake, in 1962. The prospectors were grubstaked by ten companies in 1973.A diamond drill program was initiated shortly thereafter.In 1983an underground ramp exploration program was carried out on the West Anticline portion of the property. The program was unsuccessful in establishing an ore reserve so surface exploration continued. In 1986the ""T"" zone was discovered. Further surface drilling was done and an over-all drill-indicated reserve of 6 million tonnes at 7 grams per tonne was outlined. The gold mineralization occurs in several vertical tabular deposits within the iron formation. In late 1987the joint venture partnership, now consisting of Placer Dome Inc., Inco Gold Co., Corona Corporation and Esso Minerals Canada, contracted J.S. Redpath Limited to conduct an underground exploration program on the ""T"" Zone.The scope of work for the project was to: 1. establish a 45 km winter road in 1988 and 1989;"

Jan 1, 1989

By Mel Owen, Bob Tipman

"A number of studies have identified the presence of heavy minerals in the Athabasca oil sands. A 1996 Mineral Development Agreement study into the recovery of Co-Products identified low operating costs, a simple flowsheet and access to market as key drivers in advancing interest in a viable project.Commercial bitumen extraction processes recover 50% of the titanium heavy minerals and 85% of the zircon into froth containing 1 % of the feed solids. Froth treatment tailings grade is 11.5% Ti02 and 3.6% Zr02.Processing this high grade feed in a combination of flotation, roasting, screening, gravity concentration and magnetic separation, results in concentrates of rutile, leucoxene, ilmenite, zircon and rare earths of marketable quality.A combination of high grade feed and a simple process lead to operating costs among the lowest in the industry. Low cost heavy minerals and low energy costs indicate an intriguing potential for low cost pigment production in Alberta. The production of heavy minerals from oil sands remains one of the largest untapped resources in the Province of Alberta1.0 IntroductionThis paper describes the results of an investigation into the recovery of heavy minerals from tailings produced by the major oil sands plants. The study was carried out under a Canada-Alberta Mineral Development Agreement (Alberta Chamber of Resources 1996). The MDA Co-Products Study examined the potential for the economic recovery of heavy minerals from oil sands tailings."

Jan 1, 1998

By James K. Gowans

"Cominco Ltd's Polaris Mine, located on Little Cornwallis Island, Northwest Territories (latitude 75degrees 30') went into production in late 1981, becoming the world's most northerly base metal mine. The concentrator, powerhouse, shops, offices, dry and warehouse, were uniquely designed and constructed on a 100f t wide by 400 ft long by 65 ft high barge. This process barge was constructed in southern Canada at Trois Rivières, then towed 3,500 miles into the High Arctic Islands and beached on Little Cornwallis Island.The paper deals with the original design philosophy, flowsheet and the initial year's operation of the Polaris process barge.IntroductionTo bring a mining property into production in the Canadian High Arctic, a company must deal with the harsh environment, the short shipping season and the high cost of labour. In trying to minimize the effect of these fact or s, the concept of a barge-mounted process plant was investigated as an alternative to the conventionally built concentrator. Cominco's previous experience gamed at the Black Angel Min e on Greenland's west coast suggested that this would be a practical alternative.The normal shipping season at Little Cornwallis Island is approximately six weeks long, from mid-August to the end of September. All equipment and materials must be delivered during the ""shipping window"". The logistics problems are enormous; if the conventional approach had been used the major process equipment would have been delivered to Little Cornwallis Island at the same time as the completed barge actually was! Construction would also be starting at the start of the worst climatic conditions, the Arctic winter. Nine months' production was gained by opting for the ""barge"" approach."

Jan 1, 1983

By Lawrence Devon Smith

"The concept of risk is well established in the mining industry. It is acknowledged when estimates of reserves are expressed as proven or probable, when mining and metallurgical recoveries are applied to the ore, and when contingencies are added to costs. However, it is difficult to provide a quantitative assessment of risk. The significant sources of risk in a mineral project and how these are addressed in project evaluations are discussed.The discount rate is examined as a fundamental means of reflecting risk in discounted cash flow evaluations. Current industry practice is discussed, and a methodology for the analysis of risk levels is proposed that assesses the constituent components of the discount rate: real interest, mineral project risks, and country risk.IntroductionThis paper examines the components of the discounted cash flow discount rate and proposes a method of estimating project-specific discount rates. The motivation for this work comes from experience of project evaluations in which owners and purchasers had agreed on virtually every aspect of the evaluation except how much the project was worth. Agreement was reached on reserves, grade, recovery, capital costs, operating costs, taxes, and, by combining these components, even on the final cash flow values. The only difference in opinion concerned the discount rate to be used in the calculation of the net present value. Depending on the life of the project, such differences of opinion can cause a variation of more than 50% in the value placed on a project! This is illustrated in Figure I."

Jan 1, 1995

By The Staff

Introduction It is the purpose of this paper to discuss a number of the metallurgical improvements in the technology of copper-nickel ore treatment which have been introduced during recent years in the plants of ?the International Nickel Company of Canada, Limited. In common with other ore treatment processes, the procedure for extracting nickel and copper is changing almost continuous! y. These changes are necessitated by reason of changes in ore grades and characteristics, rising material and labour charges, and the constant drive to maximize metal recovery and to minimize production costs. It is not possible to present a comprehensive list of all the changes made, and only a selected number of the improvements in the milling, smelting, and refining operations are covered. It should be clearly understood that some phases of the procedures described have been pioneered by others in kindred fields and due acknowledgment is given to their foresight and efforts. Articles have been published over the years describing the operations of the International Nickel Company plants and the reader is referred to the Engineering and Mining Journal, Vol. 130, No. 9, November 10th, 1930, and to the Canadian Mining Journal, Vol. 58, No. 11, November, 1937, and Vol. 67, No. 5, May, 1946. Other references are the Transactions of this Institute, 1932, 1938, and 1946; Metals Technology, American Institute of Mining and Metallurgical Engineers, February, 1938, and Canadian Chemistry and Process Industries, April, 1940.

Jan 1, 1948

By E. Swartzman

"IntroductionGENERALLY, the necessity for mining coals of higher impurity content, the drive for lower costs by intensive mine mechanization, changing market requirements, and the increasing competition of oil and natural gas, have continued to result in an upward rise in coal preparation, and have necessitated a more intensive study of coal preparation problems.Increasing adoption of •continuous mining equipment, for example, is introducing new problems in coal preparation. Limited experimental work in the United States (1) shows that the effect of the continuous miner on size distribution varies with the characteristics of the seam. In some seams, the fines problem is lessened, in others it is greatly aggravated. Generally there is a decrease in the relative amount of the top sizes (plus 2 in.) and a substantial increase in the intermediate sizes (down to about 1/8 in.). Contrary to expected results•, where continuous miners with vertical-moving cutting heads are used, an increase in impurities in the slack sizes does not necessarily occur where draw-slate is taken. This is because the draw-slate tends to be kicked out in lump form. However, if a seam contains bands •and lenses of impurities they are bound to be in the mined product."

Jan 1, 1952

By Ron Bradburn, Derek Perkins

"The Brenda mine is located in south central British Columbia, 22 km north west of Peachland, in the heart of the Okanagan Valley. Situated at an elevation of 1500 metres, the mine area straddles the divide between the headwaters of Trepanier Creek and Peachland Creek. These flow into Okanagan Lake, the chief valley water resource located 1100 metres below. The creeks are of great significance to the water management of the area as they constitute the water supply for the Municipality of Peachland, a thriving retirement community with a population of 5000. A location map is shown in Figure 1.The history of the Brenda Mine operation has been well documented previously. After twenty years of operation, the open pit mine shut down in June 1990 due to the depletion of its ore reserves. During the course of its life, it produced 109 million tonnes of waste rock which is thought to contain approximately 0.10% copper as chalcopyrite and 0.015% molybdenum as molybdenite stored in four rock piles around the pit. Similarly, approximately 200 million tonnes of tailings were produced grading 0.015% copper and 0.005% molybdenum. During operation, tailings were hydrocycloned to produce a coarse sand for dam building with the fine slime stored behind the dam. It is estimated that 40% of the tailings were used for the dam construction. The layout of the mine site is shown in Figure 2.The mine was operated under a zero discharge permit. This was achieved by diverting practically all surface water flowing towards the mine area around the site. Water affected by mine operations, was discharged to the tailings impoundment, and recycled to the mill for reuse. The recycle rate was 90% and seepage from the tailings embankment and saddle dam was pumped back to the tailings pond. Because acid drainage was not a problem with the low grade Brenda rock, runoff from the rockpiles was initially released to the local environment. However, due to the alkaline nature of the waste rock, dissolution of low concentrations of molybdenum in the site runoff waters became evident by the late 1970's. The molybdenum content of Peachland Lake, the water reservoir for the municipality of Peachland, approached the Canadian Drinking Water Standard of 0.25 ppm. By 1979, a series of diversion and collection ditches was completed to direct all runoff water from the rockpiles to the tailings impoundment area. This had a significant detrimental effect on the site water balance causing it to go into a considerable surplus condition. During normal operation, this oversupply was contained by the rate of tailings dam building. An economic shutdown of the mine during 1984 forced a limited discharge from the site to protect the integrity of the tailings dam."

Jan 1, 1995

By Peter N. Calder, Garston Blackwell

"The history and analysis of a structurally complex open-pit rock slope displacement are described. The failure involved part of the only haulage access to a major ore zone. The ongoing movement was monitored using an electronic distance measuring device and a continuous electronic system specifically designed for the problem. A major fault, infilled with a thick clay gouge, and intersected by other structural features, resulted in the transfer of weight to a rock mass acting as a buttress in the lower regions. Movements were affected by blasting vibrations and ground-water conditions. Remedial measures included limiting blasting levels and lowering the water table, following which mining was successfully resumed in the area.IntroductionBrenda Mines is situated in a mountainous region of the southern interior of British Columbia; the location is indicated on Figure 1 . The elevation is approximately 5000 ft , giving a climate typical of more northern areas. Temperatures vary from -30°C to + 30°C. A snowfall level of 400-800 cm is experienced from November to April. During the spring, a heavy runoff period occurs, increasing the pumping rate in the pit from a nominal 50* gal/min to 2000 gal/min.The orebody occurs in a fractured Jurassic rock mass referred to as the Brenda Stock; it is approximately 3000 ft in diameter and 1000 ft deep. The Brenda Stock was intruded into the Upper Triassic Nicola Group tuffs, breccias and argillites. Mineralization occurred in several stages in a relatively homogeneous quartz diorite host rock. Shearing, faulting and jointing occured later in many stages, producing mineralized clay gouge zones up to several feet in thickness'> , These gouge zones have a major effect on the stability of the pit walls.The structural geology of the pit walls is otherwise relatively simple. Figure 2 is a conventional pole diagram indicating the orientation of the rock structural systems which are present. The major system has an average dip of approximately 70 degrees to the south and strikes approximately east /west , it is not undercu t by the pit slope. Figure 3 is a photograph of part of the North wall on which this system is indicated.The basic pit design consists of a working bench height of 50 ft, with a final wall height of 100 ft between berm s and a 100-ft-wide berm every second lift. Combined with a local face slope of 50-70 degrees, the resulting wall slope, not including haulage roads, is 45 degrees. Figures 4 and 5 are generalized plans and sectional views of the pit."

Jan 1, 1980

By R. O. Burt

"IntroductionThe introduction to this section on gravity concentration indicated the wide range of equipment types that exist for the concentration of minerals, in what is the broadest size range of any concentration process.The equipment described in this chapter includes jigs, tables and sHme plant equipment. In contrast to the equipment described in the two succeeding chapters, this range of equipment, in nearly every instance, superimposes a mechanical movement on the fluid motion to effect separation of the valuable mineral from the waste mineral. The motion may be vertical Gigs), reversing (tables), or rotary (slime plants): however, in common they ""dilate"" the bed of particles to allow preferential settlement of the heavier particles.Description of Process UnitsJiggingJigging is the sorting of different minerals by stratification, based on the movement of a bed of particles relative to a fluid in a vertical plane.The basic construction of a jig is shown in Figure 1. Essentially it consists of an open tank filled with a fluid, normally water, with a horizontal jig screen at the top and with a spigot in the ""hutch"", or bottom compartment, for removal of heavies. The jig beri consists of a layer of coarse heavy particles (ragging) on the jig screen. This ragging is of a specific gravity between that of the minerals it is intended to separate.In operation the bed is made fluid by a pulsating current of fluid to provide stratification. On the upward or pulsion stroke the bed of ragging and slurry is normally Hfted as a mass, then as velocity of the upcurrent decreases it dilates, loosening the whole mass. On the downward or suction stroke it closes slowly again. The ideal is to control this dilation of the bed of material so that the heavier and smaller particles penetrate the interstices of the bed, while the larger heavies fall under a condition akin to ""hindered"" settling."

Jan 1, 1989

Presentation Topics ? Low and Intermediate Level Waste ? Project Location and Site ? Geological Setting ? Key Features ? Project Overview ? Licensing and EIS ? Next Steps DGR Waste Package Inventory Approximately 50,000 packages over 35 years: ? ~40,000 packages or 80% of inventory are LLW Bins ? ~7,000 ILW Shields (concrete boxes) ? ~2,000 resin liner packages

Oct 1, 2010

By R. Poulin, M. R. Samis

Real options valuation is an alternative net present value framework that is able to incorporate both management flexibility and dynamic project risks. In this paper, management is considering the development of a satellite low-grade zone while operations in a developed high-grade zone continue. If the lowgrade zone is developed prior to high-grade zone exhaustion, mine capacity must be expanded before additional production from the low-grade zone can be processed. This expansion can be avoided only if low-grade zone development is delayed until the high-grade zone is exhausted. The real option model presented here allows the development and capacity expansion decisions to be reconsidered on a discrete half-year basis. It delineates price regions, for given levels of high-grade zone reserves, in which it is optimal to develop the low-grade zone, defer low-grade zone development and abandon the mine irrevocably.

Jan 1, 2006

By R. L. Bruening, N. E. Izatt, S. R. Izatt

The need for selective metal separations has increased as the mining industry encounters more complex ore bodies and demand for higher performance end products expands. The Molecular Recognition Technology (MRT) process uses highly selective SuperLig® resins to remove desired metals from a variety of solutions in the mining and metals processing and recovery industries. MRT separation processes efficiently produce high purity metal products. In this paper, applications of MRT to metal recovery at mg/L to multiple g/L concentration levels are presented and discussed. Specific examples in the precious metal, nickel, cobalt, zinc, copper, and rare earth industries are given.

Jan 1, 2014

By E. A. Rychkun

"For the last 700years of recorded economic history, man has been subjected to alternating inflationary and deflationary patterns. Through this period of time, a severe deflationary pattern has developed approximately every 55 years, creating 12recordable occurrences. Through the last two centuries, this severe deflationary phenomenon has come to be known as a depression. As these depressions have repeated themselves regularly, they are cyclic. This in turn leads to the question of whether the 13th cycle will also repeat itself in the form of a depression. As this cycle is now 51 years old, we must consider the possibility at about 1984.In analyzing a 700-year record of consumer prices in Southern England, the 55-year cycle appears to vary in shape and intensity. This varying phenomenon is due to the effect of longer cycles upon which each one ""rides "". Because each cycle effectively rides on the next largest, which in turn rides on the next largest and so on, the combined measured effect of all cycles together at any point in time is always unique. This means that anyone cycle can never repeat itself in an exact identical manner. The combined effect therefore is what we observe in the form of prices and, as cycles interact, variations in deflation are produced . The ""science"" of economics attempts to quantify and develop theory on situations which are never identical and hence can be conservatively classified as a useless predictive tool.This means that more unconventional approaches may be required to predict our economic future. In looking at previous depression cycles, it is possible to recognize similarities in human behaviour patterns and hence the resulting economic movements. These behaviour patterns create major events or influencing factors which set the scene for a major deflationary condition. The way in which these factors occur, however, is not predictable. As more and more of these similar events are identified in each cycle, we can increase our confidence on the probability of the last event occurring (a depression). By also unravelling the set of larger cycles, we can determine the potential combined effect at any point in the future.This paper presents a system of cycles ranging from 800 years to 3 years which appear to operate in our economic system. By so doing, a long-term projection into the next century can be made. Finally, the paper deals with the main controlling similarities within the depression cycle, to show that a comparison with our current cycle implies that a major deflationary collapse in the mid 1980's is virtualy inevitable."

Jan 1, 1980

By H. Westengen

The AE alloy family exhibits remarkable combinations of properties when utilized as high pressure die castings. This performance relies on the fact that the rapid cooling rate resulting from the direct contact between the molten alloy and the steel die walls effectively refines the structure through rapid solidification. Furthermore, the rare earth additions modify the solidification pattern, dramatically reducing the solidification interval. A solid shell forms at temperatures exceeding 500C, reducing the tendency for die sticking and inverse segregation. As a result, the die castability is excellent, giving parts with a smooth and shiny surface. Unlike other magnesium die casting alloys developed to improve elevated temperature creep properties, AE alloys do not suffer from the commonly observed tendency to introduce brittleness. This feature is attributed to the fact that the massive magnesium- aluminium intermetallic phase is substituted by a finely dispersed lamellar structure of Al-RE intermetallics. The resulting combination of excellent elevated temperature properties and good ductility, as well as excellent corrosion resistance, means superiority of these alloys for demanding automotive engine and chassis applications.

Jan 1, 2006

By Robert B. Parsons

"Canadian income tax legislation contains a number of provisions which serve to facilitate the structuring of business arrangements, including mineral resource ventures. These rules are often fairly complex and not easily understood. This article attempts to explain in plain and understandable language the mechanics and benefits of one of the more frequently encountered provisions, the ""Section 85 election"".IntroductionThe Canadian resource industries are probably singled out for more special attention under this country's tax legislation than any other industry. This special treatment is, of course, not always welcomed by the industry, such as where unnecessarily restrictive taxation is perceived to exist or where agonizingly complex tax legislation must be dealt with. On the other hand, certain provisions in the tax legislation treat the industry in a relatively favourable manner, including a number of rules which, in recognition of the high risk and capital requirements of the resource sector, serve to facilitate the structuring of resource ventures."

Jan 1, 1984

By O. Babak, J. G. Manchuk

ABSTRACT A significant factor in evaluating bitumen recovery from an oil sands mine is the particle size distribution (PSD). Increased understanding of mined ore quality and improvement in predictions of recovery can be achieved through PSD modeling. This paper addresses PSD modeling using geostatistics. PSDs may be described using many discrete particle sizes, making this a challenge. The approach parameterizes PSDs with a few statistics. A lookup table is used to reconstruct the PSDs based on models of the statistics. The workflow is applied to Total E&P Canada’s Joslyn Lease and yields good results that reproduce input statistics without introducing artifacts.

Jan 1, 2013

By A. Galibois, H. Monette, J. L. Collins

This paper deals with the problem of caving, which occurs in varying degrees in blast holes before loading. It is shown that the distribution of the amount of caving in materials may be described by a gamma density function. A decision model to determine the optimal depth of over-drilling 'in order to minimize the expected additional cost per hole is described. Two different policies are discussed. In addition, charts which permit the mine operator to realize significant savings have been drawn for different actual situations.

Jan 1, 1971

By Jim Cooney

Background ?1990s saw massive changes in South African mining industry ?over 100,000 jobs lost as the industry restructured; ?1999 ?Placer Dome purchased a 50% interest in South Deep (WAL), a mine located just outside Johannesburg ?This was the first major post-apartheid foreign investment in the South African mining industry The Situation ?Placer Dome decided to lay off 2560 mineworkers (one third of the workforce) from the South Deep Mine to restore the mine to economic viability. ?Unemployment in South Africa was over 25%, and the retrenched mineworkers had few skills with which to make a living. Policy Context ?Placer Dome was committed to: ?global corporate policy of Sustainable Development, ?demonstrating that its business contributes to the economic and social progress of host jurisdictions. ?Government of South Africa was committed to ?attracting foreign investment to its mining sector with a view to modernizing and enhancing its economic and social viability, ?ameliorating the negative social consequences of structural change without arresting the necessary process of restructuring. ?National Union of Mineworkers was committed to: ?working with the mining industry and the government in implementing a Code of Good Practice on Dismissals and a Social Plan to assist retrenched mineworkers (1999).

May 1, 2006