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By L. D. Smith

Net Present Value Impact of Discount Rate The Discounted Cash Flow (DCF) method of valuations is universally used and accepted. The main criticism of the method is that it does not recognize the value of projects long life projects. This can be seen in the preceding graph where the present value of cash flows in later years are small for discount rates over about 10%. This graph covers a project that has a 25 year operating life. It is clear from the low height of the NPV bars at 10% and 15% in the last years of the project that an additional 25 years would add almost no value to total project NPV. As an example of this effect, an colleague undertook the evaluation of a pulp and paper project. The plant could be justified, but it was not possible to justify planting the trees as they took too long to grow and so had not appreciable NPV. The plant had to purchase wood to feed the plant.

May 1, 2013

By J. A. Jr. Carpenter

Expanding world economic prosperity, probable peaking of conventional petroleum production in the coming decades and environmental concerns require efforts to increase the efficiency of, and the development of alternatives to, petroleum-based fuels used in automotive transportation. In January 2002, the U.S. Department of Energy (USDOE) and the U.S. Council for Automotive Research (USCAR) of the "Big Three" traditionally-USA-based automakers, DaimlerChrysler, Ford and General Motors, formed the Freedom Cooperative Automotive Research (FreedomCAR) Partnership to fund high-risk, high-payoff research into advanced automotive technologies with the potential for eventually lowering the USA's nearly complete (95%) dependence on petroleum, 55% imported, for its transportation fuels. FreedomCAR replaced the Partnership for a New Generation of Vehicles (PNGV) which existed from 1993 to 2001. In January 2003, the energy-supply industry joined with the FreedomCAR Partnership forming the FreedomCAR and Fuel Initiative (FC&FI) to develop the technologies needed for the mass production of fuel-cell vehicles using hydrogen as fuel and the infrastructure needed to deliver the hydrogen to the consumer. The goal is to enable the automotive and energy-supply industries to make commercialization decisions in 2015 on large-scale introduction of such vehicles and on developing the infrastructure beginning in 2020. In addition to work on fuel cells and hydrogen infrastructure, the FC&FI conducts research on technologies with the potential for nearer-term energy efficiency and environmental benefits, such as new engine concepts, lightweight materials, and engine-electric hybrid propulsion systems. Lightweighting is seen as crucial for shorter and for longer term benefits because hybrid and fuel-cell powertrains are expected, at least in the early stages of adoption, to be heavier and more costly per unit of power than the standard internal-combustion, gasoline- or diesel-fueled powertrains they replace. Research and development (R&D) on casting of aluminum automotive components were major parts of the PNGV and R&D on casting of magnesium automotive components have been and are so under FreedomCAR. This presentation will review those efforts.

Jan 1, 2006

By Hu Harries

WE RECENTLY completed a study for a client, who is an applicant to export gas from the Province of Alberta, on the effects of gas export on Alberta's economy. This study was part of the client's application ?before the Conservation Board, and, no doubt, some of you are familiar with it. Submissions by other applicants in earlier hearings before the Board and before the Royal Commission on Energy, as well as claims made by parties opposing export, have also brought forward a number of other opmwns regarding possible economic effects. Ali of these studies have been on a piecemeal basis. They have dealt with particular aspects of particular applications, and only indirectly and by inference with the overall question of gas ex-port. We have prepared this paper to review the overall picture and ex-amine, as far as time permits, all sides of the question. While the paper is entitled Economic Effects of Gas Export on Alberta, we felt that the area considered should in-elude northeastern British Columbia, not only because Westcoast, the first major gas export project, is essentially a northeastern B. C. project, but because this area has historically been, from the point of view of economic, if not of political, geography, part of Alberta. In this paper, when we talk of export, we mean export from the Province or, in this case, from Alberta plus northeastern B. C. Sales to other parts of Canada have exactly the same effect on the economy of this area as l1ave sales to the United States, provided, of course, they are made on equal terms.

Jan 1, 1958

By Stephen G. Downs

PCF?, or Penetrating Cone Fracture, is a propellant-based technique for rock excavation, which has significant potential for the mechanization of narrow-vein mining. The technique is currently being developed for use in the narrow-vein flat-dipping gold and platinum deposits in South Africa in conjunction with major mining companies. The technique is also applicable to steeply dipping vein deposits, such as those found in North America, Australia and elsewhere. The implementation of PCF? in South Africa to date is reviewed and plans for the introduction of PCF? excavation in other areas are highlighted.

Oct 1, 2001

By Peter K. Kaiser

Planning and design of deep underground mines involves a process of complex three-dimensional data integration utilizing information from exploration (geology, rock mass characteristics), engineering (mining method, excavation geometry, stress) and operations (time, in the form of sequencing). As new logging and monitoring technologies are being developed, the amount and data complexity becomes overwhelming and decisions are often made based on only a small part of the available data. Recently, Laurentian University opened a state-of-the-art Virtual Reality Laboratory (VRL), a Mining Exploratorium that is unique in the world of mining and offers an exceptional data interpretation environment for mine planning and design. The Mining Exploratorium combines a large format spherical stereoscopic projection system, equipped with high definition projection providing the highest resolution of active stereo in the world today, with advanced features of earth modeling software. Combined, this creates the first virtual reality facility geared specifically to the interpretation of mine geometry, geology, geochemistry, microseismicity, geomechanics and mining data sets. This paper demonstrates how value can be added to the mine planning and design process by utilizing this unique tool in the mining decision-making process via better comprehension of spatial relationships of data and by interpreting the data in a collaborative immersive virtual reality environment.

May 1, 2002

By Ralph D. Parker

THE subject matter of this paper will be primarily restricted to the metallic mineral industry, which last year was responsible for almost 60 per •Cent of the total value of Canada's mineral production. It has been written that, in the broad sweep of eternal time, sixty years is as transient as a flicker of lightning in a summer night's sky. In the history of mankind and human endeavour, however, six decades can encompass momentous events and far-reaching •circumstances, all of which affect the lives of men and change the destiny of nations. This observation is con-firmed very positively by a study of our Canadian mining history, from either the broad viewpoint of human progress or the more specialized viewpoint of national economy. The past sixty years have witnessed vast changes in the economic importance of mining in this country's affairs, and also in the technology of the industry. Mining has emerged from the days of rule-of-thumb practice and is now taking on the stature of a highly diversified science.

Jan 1, 1962

By G. Lipsett, S. Dessureault

Information technology (IT) initiatives in the past have tended to be sold on their ability to maximize resource output and return on capital by allowing assets to be used more effectively and efficiently. Many IT projects fail, not delivering return on their investment. This is known in the IT industry as the “productivity paradox,” where increasing investments in IT do not result in comparable increases in productivity. Experiences and studies of most business sectors reveal that this paradox is rooted in the false assumption that more IT spending automatically results in financial benefit, whereas the benefits are in how effectively IT is used. Most business sectors have accepted that re-engineering of processes is required to gain the full benefits promised of IT. A mining operation has organizational processes similar to most business sectors, but unique operational processes. The lessons of changing business practice in more common business processes, such as inventory control and customer-supplier relationships, can be adequately transposed into a mine setting. The unique operational processes in mines, in turn, require unique redesign efforts. Several enabling information technology opportunities have recently become available, such as more integrated mine production management systems and tactical manager training simulators. This paper reviews some of the latest IT products and outlines the processes and kinds of change that will be required in order to benefit from these new investment options.

Jan 1, 2009

By Peter C. Jones

The paper gives a broad view of the maintenance procedures at the Cassiar Asbestos Corporation property. Comparisons are drawn to indicate the changes in facilities and approach that have evolved over the last 25 years while coping with the northern British Columbia climatic conditions. Special emphasis has been placed on the importance of the support groups providing services for both the mine site and the town.

Jan 1, 1978

"Horizontal grinding mills have been used in the mining industry for more than a century, and due to their operational and maintenance simplicity they remain a widely used technology for various stages of comminution. The relative ‘efficiency’ of horizontal grinding mills compared to other comminution equipment is often debated, and efforts to improve the energy efficiency of these mills is an on-going area of attention for process engineers.The discharge arrangement design affects the material transport characteristics within a horizontal grinding mill. Material transport plays a significant role on efficiency of horizontal grinding mills. The magnitude of benefits that can be achieved with efficient material transport in AG/SAG mills has been demonstrated in a Greenfield milling operation at Mirabela Mineração’s SantaRita Nickel operation in Brazil. This grinding circuit was commissioned in October 2009, which was designed as a typical SABC circuit to grind 4.6 mtpa (575tph) to produce a P80 of 125um with 10-12% ball charge in SAG mill. The nameplate design capacity has been achieved in few days in ABC circuit without grinding media in SAG mill, and has been operating in ABC mode. The through has gradually increased to an average of 800 tph and recently 7% ball charge has been introduced to increase the throughput to +900tph.This paper investigates improved material transport using Outotec’s TPL™ (Turbo Pulp Lifter) technology and the opportunities this technology presents when designing horizontal grinding mills. Operational data, with particular reference to energy and throughput optimization, is presented."

Jan 1, 2013

By K. M. Tompson, R. L. Armstrong, C. I. Godwin

"Tungsten skarn deposits on the Clea property in the Selwyn Mountains, Y. T., are related genetically to a quartz monzonite stock, about 500 metres in diameter at the surface. Lower Paleozoic sedimentary rocks are metamorphosed for a distance of 3 km from the stock. Tungsten-bearing skarn mineralization within the altered sedimentary rocks is of two types: sulphide-rich pods and calc-silicate beds. The most significant scheelite concentration is in calc-silicate beds near or adjacent to the quartz monzonite stock. Discordant K-Ar and Rb-Sr isotopic dates indicate that the stock is probably of early Late Cretaceous age, 94 Ma or slightly older, and that it cooled slowly. High initial 87Srl86Sr ratios and disequilibrium relationships between K-jeldspar phenocrysts and groundmass minerals in the porphyritic phase of the granitic rock , and between different granitic rock specimens, indicate contamination of crystallizing magma by old sialic continental crust which extends westward under the Selwyn Basin.This study is significant to regional tungsten exploration. Granitic rocks associated with tungsten deposits, in this part of the Canadian Cordillera at least, appear to have specific isotope characteristics that indicate they were generated at a specific time and in a particular way.IntroductionThe Clea tungsten skarn property (Fig. I) is owned by Canex Placer Limited, and lies in the Selwyn Mountains (Bostock, 1948) near the eastern margin of the Selwyn Basin (Wheeler and Gabrielse, 1972), Yukon Territory. The property covers a 20-square-mile area centered near latitude 62°47 ' north and longitude 129°52' west, and is accessible by helicopter. An airstrip and the terminus of a summer-use gravel road at MacMillan Pass, Yukon, are about 20 miles to the northnorthwest.This paper deals mainly with the geochronemetry of granitic rocks from a stock associated with tungsten mineralization on the Clea property. We show that these rocks have specific characteristics that not only define the genesis of this stock, but also have significance for regional tungsten exploration around plutons in the Canadian Cordillera."

Jan 1, 1980

By Stratton-Crawley R., G. E. Agar

"A study has been done of the scale-up of laboratory bench-scale flotation to continuous plant circuit performance. It was found that the impellor speed and the air flow rate influenced the results and in this case extreme values of these operating variables were required in order to reproduce the plant rougher results in the laboratory. Despite the experimental uncertainty introduced by these extreme values, it was demonstrated that the plant performance could be predicted and experimentally reproduced with bench-scale tests.IntroductionThe mineral processing industry relies heavily on batch flotation testwork to design flowsheets, evaluate reagent s and compare various types of ore. The batch tests are generally regarded as being directly comparable within themselves, but quite often they relate poorly or not at all to continuous circuits. Obviously this dilemma generates considerable uncertainty with wide-ranging ramifications. One of the manifestations of this unfortunate situation is the commonly expressed opinion that ""it may work that way in the laboratory, but it will never work that way in the plant"".In a previous publication, a method was described whereby the results of batch bench-scale tests could be used to simulate a locked cycle flotation test series. The work to be described here is a continuation of that investigation with an extension to the simulation of an actual plant circuit. It would have been preferable to progress from laboratory batch data to a continuous pilot plant and then finally to a full-scale plant operation. However, because that possibility did not present itself, an attempt will be made to show that the performance of an existing plant circuit can be successfully simulated from batch data. The success of the procedure can be judged by the agreement among the plant results, a locked cycle test and the predicted results based on batch tests."

Jan 1, 1982

By H. Reimer

The rates of return on investment are examined for several major Canadian mining companies. Because we are dealing with a highly cyclical industry, subjected to widely fluctuating metal prices, rates of return are examined over a 20-year period. Conveniently, the first decade examined reflects the period when the industry enjoyed incentives to develop deposits; during the second decade, incentives were reduced and the industry became the most heavily taxed industry in Canada. The high rates of inflation since 1973 have distorted the real rates of return on investment if one considers replacement cost.

Jan 1, 1977

By William D. Macdonald

The Upper Devonian Kettle Point black shale of southern Ontario is poorly exposed. Structural maps pre-pared from the data of numerous wells show that the upper surface of the formation has low regular relief, and that the lower surface reflects domes in the Middle Devonian and also local subsidence of the Devonian rocks due to solution of salt in the Silurian Salina Formation. The appearance of minor amounts. of marcasite, pyrite, and calcite, m that order, as interpreted from the evidence of concretions from the type locality at Kettle Point is thought to have been influenced by a rise m the pH within anaerobic sediments preceding compaction.

Jan 1, 1960

By R. D. Brown

"AbstractIn order to raise the enormous amounts of capital which will be essential for the development of Canada's mineral and petroleum resources, this country's resource industry must be permitted to earn an acceptable rate of return. The existing tax regime, with its high rates, complexities and misdirected incentives, presents a serious obstacle to our resource industries in their development of Canada's immense , but increasingly lean, resources. Government tax and other policies are not the only cause of the crisis now facing the resource sector in Canada, but a reformed tax system, with stable and reasonable tax burdens, is required if Canada's resources of minerals, oil and natural gas are to continue to contribute in the future, as in the past, to our national well-being.An independent task force, organized under the auspices of the Canada West Foundation, has recently completed a wide -ranging report: on the future development of Canada's mineral, oil and gas resources. This five-volume report, completed after almost two years of research and study, concludes that Canada •is facing a major crisis •in the development of our resources, It states that unless corrective action is taken now, mineral production and exports could decline drastically after 1985, at the same time that Canada would face massive bills for imported oil because of inadequate and declining production.The task force, chaired by the author of this article, has put forward recommendations for a fundamental shift in both federal and provincial policies in order that Canada's mineral reserves can be developed in the national interest. This article consists of excerpts from the summary of the task force's report."

Jan 1, 1977

By Walter F. Atkins

Fair market value, in the legal sense , is the price which a prudent and knowledgeable buyer and a prudent and knowledgeable seller, acting without constraint or compulsion , will agree upon to exchange an asset. In the ordinary commercial or engineering usage, the term may imply simply the market value or a reasonable and equitable price. The engineer evaluator who is called upon to express an opinion about the fair market value of an asset may be able to base his estimate on the sale price of similar assets or on the market values of stock. Frequently such indicators of value are not available and the evaluator must devise other means of appraisal. Mineral resource properties may be thought of as having value by virtue of the existing or potential ability to produce at a profit. Conventional procedures permit the computation of the present value of future revenues having due regard for the time value of money and the risks attendant upon the realization of the venture. Such computations have gained wide acceptance as a basis for the estimation of fair market value.

Jan 1, 1977

By S. H. Ward

An account of a new method of investigating the electrical .properties J the earth's crust is presented. The method, called AFMAG, employs, as a source, natural alternating magnetic fields of audio and sub-audio frequencies. Measurements of the distortion of these fields caused by geological features are made with the aid of search coil detectors at several discrete frequencies. Many results of field surveys made with the method are presented and they illustrate its advantages and limitations when applied to the search for massive sulphide mineralization. The advantages far outweigh the limitations and in fact indicate that a major breakthrough in geophysical exploration technique and instrumentation has been made.

Jan 1, 1958

By Robert B. Parsons

"The tax reform process marches on. The December 16, 1987 measures tabled by Finance Minister Michael Wilson represent one more step toward the objective of total reform of Canada's income and sales taxes. While the income tax changes are taking shape, much work still needs to be done on the sales tax side of the coin.IntroductionOn December 16, 1987 Finance Minister Michael Wilson tabled measures to implement the changes to Canada's income tax system that were proposed in the June 18, 1987 White Paper on Tax Reform. The measures were set out in a Notice of Ways and Means Motion; draft legislation relating to preferred shares, research and development expenditures; and draft regulations regarding capital cost allowance, certified films, flow-through shares, and the resource sector. The reaction of the government to the recommendations made by the Finance and Economic Affairs Committee Report on Tax Reform (the Blenkarn Committee), the Report of the Standing Senate Committee on Banking, Trade and Commerce and through consultations with interested groups and organizations, business, labour and individual Canadians is set out in a booklet of supplementary information.The basic features of the reformed income tax system set out in the White Paper remain. However, a number of significant changes have been incorporated in the Notice of Ways and Means Motion and other material. The following comments address those area s where changes have been made to the original White Paper proposals."

Jan 1, 1988

By A. E. Soregaroli, H. D. Meade

"The Keystone porphyry molybdenum deposit, located in southcentral British Columbia, is hosted by intrusive rocks of the Cretaceous Mount Lytton batholith and the early Tertiary Keystone quartz diorite stock. The molybdenite mineralization is associated with rhyolite porphyry dikes flanking a large 1300 m by 2100 m breccia complex. Recognition of the potential for the buried molybdenum porphyry system was based on quartz-molybdenite vein fragments within the hydrothermal breccias.The full extent of the molybdenum mineralization is not known. The few deep drill holes along one comer of the breccia complex defines strong metal zoning of molybdenum and associated elements of F, Mn, Zn, Pb, Au, Ag, Fe and W about the molybdenum stockwork mineralization that may be useful for guiding additional exploration. The best mineralization occurred near the base of the deepest drill hole with 0.114% Mo in rhyolite porphyry near the edge of the breccia pipe at a depth of 1350 m.The exploration history of the deposit has been complex, focussing on both porphyry-style mineralization and precious metal veins and stockworks on the periphery of the porphyry system. Exploration to date has defined an attractive porphyry molybdenum system with uneconomic grades at great depth; however, there remains significant potential to define economic mineralization elsewhere in the Keystone porphyry system and adjoining occu""ences."

Jan 1, 1995

By Jacob W. Young

A casual reading of the geological literature extant to-day would give one the impression that carbon is an element which by some chance or another always existed at or near the surface of the earth, and was never of a magmatic origin. The carbonaceous matter in shales is said to be of vegetal derivation; petroleum is stated to have been derived from vegetable matter or from marine animal bodies; if carbon or bituminous matter is found in igneous rocks or associated with metallic ores, the statement is made that deeply buried carbonaceous sedimentaries were undoubtedly the source from which such carbon or bituminous matter was derived. This, I do not consider a reasonable or common sense view of the matter. Carbon is one of the elements of which the earth is composed. In the table giving the periodicity of the elements it comes sixth in the order of increasing atomic weights. It is an element formed like all the rest were formed, and must be as common to the interior of the earth as the rest of the eighty-odd elements so far discovered. The spectroscopic analysis of light from the sun, and the stars, shows the presence of carbon in the sun and in the colder stars. Thus with carbon, an element, found throughout the universe as well as on the earth, it is entirely reasonable to consider it as present in the interior of the earth with the other elements. Such being the case, the magmatic origin for the various forms of carbon in rocks and ores is a rational and logical conclusion. If but a small fraction of thought and effort was made along these lines, which is made in fostering the idea of the organic origin of the carbon found in the earth's crust, untold advances in this phase of geological science would result.

Jan 1, 1925

By H. F. Zurbrigg

Introdduction The main line of ascent in the development of the nickel industry may be traced back through the International Nickel Company of Canada, Limited, to its earliest antecedents, the Canadian Copper Company and the Orford Copper Company. Mining geology is but one aspect of the overall development of this organization, and the stress it has placed on geology grew according to the need. In the early days, intensive geology was not required because ore supply was not one of the main problems of this or any of the pioneer companies. The difficulty then was to find economic methods for reducing the ores to nickel and copper, and markets for absorbing nickel in the face of a limited demand from consumers heavily prejudiced in favour of the New Caledonia product. "Very early in the history of the region it was patent to everyone that to share in the full benefits of the industry the same individuals or company must control the whole of the operation necessary to manufacture the finished product' (1, p. 45). These conditions were fulfilled for the International Nickel Company in 1902 when the Canadian Copper Company (incorporated 1886), with its ample ore supply, took the initiative to merge its interests with those of the Orford Copper (Refining) Company (incorporated 1887) to form the new company which, with reorganizational changes, emerged as the producer of the overwhelming bulk of the world's nickel. The Mond Nickel Company, Limited, entered the field in 1899 with a refining process, and over a period of years acquired ore through purchase of mining properties. This Company operated successfully and independently until 1929 when its assets were joined with those of the International Nickel Company in order to permit the most economic exploitation of the Frood-Stobie orebody in which both Companies were interested.

Jan 1, 1948