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By Ross D. Lawrence

"IntroductionOne of the methods used when applying the Market Approach to the valuation of a mineral exploration property is known as the Joint Venture Terms Method. The method is particularly useful for the valuation of early-stage exploration properties. Unfortunately, valuators are sometimes imprecise in distinguishing between joint ventures and other types of transactions.At VALMIN '94, Bob Appleyard1 proposed that, if one ignores the time value of money and the probability that the expenditure commitment would be completed, the formula to calculate the value ($V) of a property owned by Party B at the time of the deal would be:$V =$Ex (100-1%)/1% (Formula I)Where $V is the value of the property2Where $E is the expenditure commitment by Party A, andWhere 1% is the percentage property interest to be earned by party A.At PACRIM '99, Mike Lawrence and Graham Dewar3 referred to this method and suggested that there was an ambiguity in the formula proposed by Appleyard in 1994. Mike Lawrence referred to this problem again at VALMIN '014•Lawrence & Dewar suggested that the formulashould be:$V100% =($Ell%) x 100 (Formula 2)Where $V 100% is the value of the entire property,Where $E is the expenditure commitment by Party B, andWhere 1% is the percentage property interest to be earned by Party B.Subsequently, there has been considerable discussion in the AuslMM Bulletin5. In my view, this discussion has touched on a number of useful points, but generally has overlooked one essential element needed for an understanding of the correct application of the N Terms method. That essential element is to understand that there is a material difference between (1) entering into a joint venture arrangement and (2) the purchase of an interest in a property."

Jan 1, 2003

By Ross D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market.RÉSUMÉRoss D. Lawrence graduated from the University of Toronto with a B.A.Sc. (Applied Geology-1956) and an M.Comm. (Mining Finance-1959). As a student and following graduation, he worked across Canada on a variety of mineral exploration projects.In 1962, he was one of the founders of Watts, Griffis and McOuat, and has practiced as consulting engineer since then. For the past 20 years, Mr. Lawrence has headed up the WGM valuation practice, responsible for a group of professionals which has carried out scores of valuations of mineral properties and mining companies. He is a Certified Minerals Appraiser of the AIMA and an active participant in professional affairs.INTRODUCTIONMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. You will hear from others at this conference about the use of cost and income approaches to the problem of valuing exploration properties. This paper will concentrate on market-based approaches. Market based-approaches are based on the principle of substitution and include such techniques as:??Comparable transaction analysis (sometimes referred to as sales comparison analysis).??Farm-in commitment analysis??Rules of thumbAre there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal committee of the Canadian Institute of Mining, Metallurgy & Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2003

By W. D. Watson

"Early in mine development at Quintette Coal Limited major problems were encountered with the fleets of primary equipment which seriously hampered production. These major fleets (cable shovels, hydraulic shovels, hydraulic drills and electric trucks) have consequently been the focal point of maintenance efforts. Some were prototypes in the Canadian mining scene and brought with them new concerns to test their skills. The problems were studied and the category and areas which were having the greatest impact on the reliability of the equipment were determined. Once defined, priorities were established and a program was initiated which was designed to accomplish a resolution. Resulting from implementation of this systematic approach, over the past three and one-half years, the fleets are now giving good reliability and industry standard availabilities. Along with these significant achievements, cost per operating hour on some of the equipment fleets has decreased substantially and continue a downtrend through 1987. This paper identifies the problems and describes the resolutions. IntroductionIn the early years of the mine development, Quintette Coal Limited (QCL) experienced production shortfalls due to problems with the major excavator and haulage fleets. A large fleet of hydraulic excavators had been purchased, and QCL was among the first northern users of all hydraulic blasthole drills. They were also using some prototype equipment and encountered problems which were not common on other types of equipment or were unknown.Because of these unique problems and lack of experience from other mines to draw on, an analytical approach was taken to areas and associated causes of the delays affecting the availability and reliability of equipment. This was done by dividing the equipment downtime into seven classifications of delays, i.e. maintenance, electrical, hydraulic, mechanical, damage, service and preventative maintenance, and tires; and then each was expressed as a percentage of total downtime. Subsequently each of the delay classification was divided into categories e.g. electrical to six categories - wheel motors, main alternator, relays, cards, no propel, lighting and 24 V system. Then, the basis for further study had been established.From this preliminary analysis of historic records, it was possible to determine the areas which were causing the majority of the downtime. These areas were then analyzed to evaluate causes and to determine possible solutions to the problem s. This paper addresses the major fleets, their problems and eventual solutions. Plea se bear in mind that the over-all objectives were to increase physical availability and reliability."

Jan 1, 1988

By B. Ignasiak

Laboratory studies suggest that improvements of coke strength brought about by pre-heating caking coals before carbonization accrue from inadvertent oxidation rather than from other low-temperature changes in the coal mass. Controlled oxidation of highly caking coal, followed by laboratory carbonization, produces cokes which, in terms of a laboratory scale tumble test index, are equivalent to those obtained from prime metallurgical blends. Appropriately formulated blends of exhaustively oxidized and fresh caking coal similarly yield cokes with strength indices comparable to those of cokes made from the same coal after oxidation under optimum conditions.

Jan 1, 1979

By Stephen Hardcastle

Supplying ventilation in underground metal mines can be one of the most energy demanding services required to support production activities. Consequently, as energy, in the form of electricity or combustible fuels can be expensive and their unit cost is expected to increase, there is significant interest in reducing the overall demands of a mine?s ventilation system through such initiatives as controlling ventilation based upon demand and exploring other power alternatives to the current usage of the diesel engine in mobile mine vehicles. However, determining the benefit of any energy saving technology is complex and not universal applicable across the industry, consequently they have not been widely adopted. For these technologies to succeed they must be strategically applied based upon sound business cases. The intent of this paper is to provide information on some of the prospective control strategies and their potential impact on the power consumption related to supplying ventilation.

May 1, 2007

By M. Zamalloa, P. J. Mackey, P. Coursol, Y. Prévost

"Over the last decade or so, the availability of commercial thermodynamic modelling packages, such as FactSageTM, have been utilized to help the plant optimize slag chemistry and to minimize slag handling issues that can arise, such as those due to a process upset, for example, by undue feed variability. This paper illustrates an extension of the application of this software in examining a large range of NCV operating parameters, such as the %Fe/SiO2 ratio in the slag and the level of minor gangue components in the slag including CaO, Al2O3, ZnO, MgO, and PbO. The conditions influencing the slag liquidus range of NCV slag are discussed with respect to the overall process chemistry.Given that a sufficiently low %Fe/SiO2 ratio is used in NCV slag, most components such as CaO-ZnOPbO- Al2O3-MgO, in small concentration, all contribute to lowering the NCV slag liquidus. Considering the present level of these minor components, the NCV can operate consistently at 1200°C if the %Fe/SiO2 is between 0.6 and 0.8 in the slag. Using the type of phase diagrams presented in this paper, it is possible to develop different Noranda reactor/Noranda converter operating strategies adapted to the feedstocks available at Xstrata mines/plants or from other sources. The NCV is unique in that a fayalite-based slag is employed for high-efficiency continuous converting with excellent operating results."

Jan 1, 2007

By S. H. Logan

Mr. B. Neilly: A week or so ago the Secretary was good enough to forward me an advance copy of this paper by Mr. Logan and it was suggested that I comment on it at this meeting. At that time I was not very certain that I would be here, so I committed my thoughts to paper. As a matter of courtesy to Mr. Logan, I sent him a copy of my proposed remarks and I would like to give you just what I sent to him. Appreciating fully Mr. Logan's ability and many sources of information, one naturally hesitates to question anything seriously set forth as his considered opinion. Neither does one of my political stripe like to accuse him of being too 'conservative.? However, in places his paper reminds me of another general manager of a Canadian bank. While I was still Secretary of the Ontario Mining Association, this general manager wrote asking for our forecast on the current year's mineral production, stating that he proposed to refer to such production figures in his annual address to his shareholders. The request was considered very complimentary to the Ontario Mining Association and, in my opinion, justified a great deal of serious study and effort. Finally, the estimate was prepared and forwarded, showing a modest increase over the previous year's total. Picture our surprise and chagrin on reading his address to find that he predicted not an increase but, if you please, a decline of over $10,000,000. Before I cooled off I wrote asking the basis of such a prediction and got a reply to the effect that men in his position had to be ultra conservative in picturing the future.

Jan 1, 1931

By Robert J. Uffen

YOU will likely recall the accomplishments of the International Geophysical Year of 1957, with its polar expeditions, the discovery of the Van Allen radiation belts and the spectacular launchings of the first artificial earth satellites. Our know ledge of the exterior of the earth was greatly increased by this international, friendly, cooperative scientific investigation. The Inter-national Union of Geodesy and Geo-physics has now been joined by the new International Union of Geological Sciences in sponsoring a similar study of the earth's interior. The program will extend from January, 1962 until December. 1964, and is known as the International Upper Mantle Project. During the T.G.Y studies of the interior of the earth were relatively neglected, even though the same international •Cooperation in obtaining simultaneous world-wide observations, by similar instruments, is required to locate and study earth-quakes, for example, as it is to study the earth's upper atmosphere. The upper mantle is 1•emote from man, as it extends from a depth of about 10 km. to perhaps 1000 km., but its practical importance is great.

Jan 1, 1962

By George R. White

"The Phalen Colliery, the Cape Breton Development Corporation's flagship, is now producing thermal and metallurgical grade coal in Eastern Canada's Sydney Coal Field. The colliery is a drift mine operating under the waters of the Atlantic Ocean. Improved mechanization, including a 2200 tonne per hour cable conveyor, and the introduction of modern retreat longwall mining methods as part of the Phalen concept are now paying off in better productivity and low operating costs. Geological conditions within the coal field are consistent with plans for ever greater outputs in the 1990s. Although much of the current production improvement is related to uprated machine capacity and simplified mines planning there is potential for even further development in the areas of maintenance, process control and engineering. Human resource development will also be a key factor. These programs are now well under way and Phalen Colliery is poised for top results in the 1990s. Comparison of the CBDC's top producer with similar operations elsewhere in the world, quantifies that potential.IntroductionAn exciting new mining project which has recently started production on Canada's East Coast has been conceived and designed to be one of the most modern and productive coal mining operations in North America.As with all mining operations, the business is basically that of material transportation. Daily, the product is transported many kilometres from the underground face to the surface and then to washing facilities. Men, materials and equipment are transported to and from the surface and the operating faces and services, such as electrical power, ventilating air, fresh water, discharge water, communications and compressed air are supplied throughout the operation to cover operating requirements. On all accounts the operation has been designed to take advantage of the latest proven technology."

Jan 1, 1990

CI, Data and Data Systems Road Analysis Control Quick and simple manual Analysis Case study Visual relation of analysis

May 1, 2013

By S. J. Prout, J. M. Lang, D. Lascelles, K. Sarinas

"There is a growing demand for ore characterization methods to support metallurgical development programs from a true geometallurgical perspective. Today, there are multiple automated mineral analysis systems on the market, many of which are based on conventional mineral liberation data. However, liberation data can be limited when assessing the floatability of a mineral to predict its recovery as it doesn’t consider the surface area available for collector absorption and bubble attachment; whereas mineral exposure measurements can. Using the First-Order Rate equation to predict the recovery versus time of variously exposed particles, a model has been developed to predict the recovery of copper sulphides at a particular grind size. This model provides the opportunity for the prediction of copper recovery and grade from multiple, small-scale samples. These predicted values can be imported into resource modeling software, and guide the domaining of geometallurgical units within the ore body. Data has been analyzed from various global copper porphyry systems and compared with actual flotation testwork.IntroductionAs part of the development of a mining project, resource estimation primarily focuses on the definition of the quantity and grade of the ore in the deposit; as the project evolves from preliminary economic assessment through to feasibility, the geological model is usually further populated with hardness and recovery data.The CIM Definition Standards (2011) identifies measured mineral resource as the part of a mineral resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of “modifying factors” to support detailed mine planning and final evaluation of the economic viability of the deposit as an asset. The modifying factors include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.With market fluctuations, many investors in the mining industry have become more and more risk averse which has increased the demand for more reliable data to support these modifying factors. This has led to the widespread use of geometallurgy and statistical analysis to better inform the resource estimation. Geometallurgy is used to characterize ore variability and is especially useful for highly variable or strongly zoned deposits, several close deposits that will be milled together, projects requiring complex or new metallurgical approaches, brownfields or sight-of-mine exploration, expansion projects that exploit new, deeper or adjacent reserves, and projects with significant legacy drill core that are being re-evaluated due to new economic circumstances."

Jan 1, 2018

By J. M. Ríos

"Without conscious effort and understanding, a number of factors unique to mineral exploration often hinder building sustainability in host communities. These include the episodic and transitory presence of an exploration team in the community and the inherent uncertainty of outcomes— most projects fail from an exploration perspective. Experience in rural communities across Mesoamerica, however, has shown that it is possible to go beyond pragmatic philanthropy and infrastructure improvements to promote positive, sustainable outcomes in communities. Examples are provided of lessons learned and proven practices that improve quality of life and support a strong social license to operate.RÉSUMÉ Sans une compréhension et un effort réfléchis, de nombreux facteurs uniques à l’exploration minérale nuisent souvent à l’établissement d’un développement durable dans les communautés d’accueil. Ces facteurs comprennent la présence épisodique et transitoire d’une équipe d’exploration dans la communauté et l’incertitude inhérente des résultats – la plupart des projets échouent après l’étape de l’exploration. L’expérience dans les communautés rurales à travers la Méso-Amérique a toutefois démontré qu’il est possible de dépasser la philanthropie pragmatique et les améliorations des infrastructures pour promouvoir des résultats positifs et durables dans les communautés. Des exemples qui améliorent la qualité de vie et soutiennent un solide permis social d’exploitation sont présentés; ils sont tirés de leçons apprises et de pratiques éprouvées."

Jan 1, 2015

By Dwayne D. Tannant

This paper presents a new mining concept for oil sands called ?hydraulic underground mining of oil sands? or HUMOS. While this mining method is still at the conceptual stage it has great promise to allow extraction of bitumen from areas that are currently uneconomical or technically infeasible using surface mining or steam assisted gravity drainage. HUMOS is founded on a combination of recently proven technologies such as directional drilling, water jet cutting of oil sands, slurry transportation, cold water extraction of bitumen, and thickened tailings. One key component in the mining concept is the caving of oil sands and the creation of an underground cavern. Scaled-down physical models will be designed and built to demonstrate water jet cutting, cave development, and insitu primary bitumen separation. These will be used as a 'proof of concept'. On-going research will establish and prioritize issues that need to be resolved, outline key areas where further research is needed, foster establishment of research teams to divide and conquer the important questions, and create framework for future coordinated research efforts.

May 1, 2001

By Roger M. Jones

This paper comments on developments in bulk shipping which will be of direct interest to those who are considering the shipment of dry bulk minerals out of Nova Scotia by water. Various conveying systems, and the slurry system of loading, are considered, and the role of deep water ports as a catalyst to other industries is stressed.

Jan 1, 1971

By V. Bonilla-Sierra, M. Elmouttie, L. Scholtès, F. V. Donzé

In the presence of joint sets sub-parallel to a slope face, the stability of the rock mass is controlled by the shear strength of the joints. On one hand, if the joints are persistent their shear strength can be assessed according to Mohr-Coulomb criterion, assuming appropriate values for the cohesion and the friction angle on the joint surface. On the other hand, if the joints are non-persistent with their continuity being interrupted by the presence of rock bridges, their shear strength will increase considerably. In this latter case, the contribution of the rock bridges to the shear strength of the joint has to be accounted for in order to better assess the stability of the rock mass. A numerical analysis of the progressive failure of a rock slope involving a non-persistent joint has been set up based upon simulations performed using a Discrete Element Method (DEM) algorithm specifically enhanced for the modeling of jointed rock masses. Pre-existing discontinuities are explicitly accounted for in the model by using a modified contact logic that ensures an explicit and constitutive mechanical behavior of the joint planes. In addition, rock bridges can be spatially distributed along these joint planes following a prescribed probabilistic technique. Jennings’ formulation (Jennings, 1970) is considered as one of the first rock slope analysis that evaluates the shear resistance to sliding as a weighted combination of the shear resistance of the intact rock and the joint planes. The validity of this formulation is discussed in the present study. Contrary to the Jennings’ formulation, we show that tensile failure is an important mechanism, particularly as the dip angle of the sliding plane increases.

Jan 1, 2015

By N. O. Lotter

The connection between mineralogy and metallurgical performance in a plant was recognised long ago (Gaudin, 1939; Petruk, 1976; Petruk and Hughson, 1977; Cabri, 1981; Petruk and Schnaar, 1981; Kinloch, 1982; Peyerl, 1983, Baum et al 1989 for example). The modern toolbox that we now routinely use for flowsheet development took decades to develop (Lotter et al., 2002; Baum and Lotter, 2004; Lotter, 2011 for example). Many workers contributed considerable time and effort to this overall mission of connecting sampling, mineralogy and mineral processing to integrate the flowsheet development activities. Certain key milestones marked this journey, such as Gy’s treatise on the sampling of particulate materials in 1979, which was later added to by François-Bongarçon, Pitard, Minnitt, and Holmes for example. The development of QEM*SEM by Gottlieb et al. of the MLA by Gu et al. constituted a huge leap forward in accuracy and mineral measurement capacity, as well as a reduction in standard errors of mineral characterisation. The advancement of the microprobe to an automated platform made a significant difference to detailed compositional mineralogy. This led to a strong position from which to draw meaningful processing implications from the mineralogical data. Reproducible flotation testing and reliable plant survey material for characterisation was dealt with by, amongst others, High Confidence Flotation Testing ( Lotter, 1995: Runge, 2010, and Bradshaw, 1997); and Statistical Benchmark Surveying (Lotter, 2005), with earlier prototypes which were steadily improved (Lotter, 1994; Restarick, 1976). The sterling work of Napier-Munn in engaging sound statistical methods with mineral processing led to the successful design and use of methods that could identify and quantify small recovery gains in plant scale trials. This history and present capability are reviewed, including leverage into asset management.

Jan 1, 2018

By Scott Honan, Tassos Grammatikopoulos, Mike Johnson, Kelton Smith, Niels Verbaan, Ernesto Bourricaudy, Eric Larochelle, Rick Sixberry

"NioCorp is developing the niobium/scandium/titanium Elk Creek carbonatite resource deposit. The carbonatite phase contains significant niobium (0.71% Nb2O5), titanium (2.68% TiO2) and scandium (72 g/t) and is composed predominantly of calcite, dolomite and ankerite. Niobium is mostly (80%) contained in the pyrochlore and the balance in various Fe-Nb-Ti oxides, which also host most of the titanium. Scandium is distributed homogeneously throughout the ore mineral assemblage. The process flowsheet recovers separate niobium, titanium and scandium products. Scandium is extracted from whole ore hydrochloric acid leach solutions through solvent extraction, and is further refined through a re-leach and precipitation process. Scandium leach residues are treated with sulphuric acid to recover separate niobium and titanium precipitates. Both hydrochloric acid and sulphuric acid reagents are recycled within the flowsheet. This paper will discuss key bench and pilot test results (focusing on the scandium flowsheet) and will present a conceptual flowsheet developed by the project team for NioCorp at SGS Minerals.INTRODUCTION NioCorp is developing North America's only niobium/scandium/titanium project. The Elk Creek project is located near Elk Creek, Nebraska, and is the highest grade niobium project in North America and the largest prospective producer of scandium in the world. These elements are unique and valuable superalloy materials that are strategic and critical to many industries and national defense technologies. The project includes the Elk Creek Carbonatite (the Carbonatite) that intruded older Precambrian granitic and low to medium grade metamorphic basement rocks. Both the carbonatite and Precambrian rocks are interpreted to be unconformably overlain by approximately 200 meters (m) of Paleozoic marine sedimentary rocks of Pennsylvanian age. As a result of this thick cover, there is no surface outcrop within the Project area of the carbonatite, which was identified and targeted through magnetic surveys and confirmed through subsequent drilling. The available magnetic data indicate dominant northeast, west-northwest striking lineaments, and secondary northwest and north oriented features that mimic the position of regional faults parallel and/or perpendicular to the Nemaha Uplift."

Jan 1, 2017

By Richardson A. H.

"IntroductionSafety and training in the mineral industry will always be issues that are hotly debated and discussed.The nature of the mining industry, where people and equipment work in close quarters deep below the earth's surface, attracts a great deal of public attention and concern, especially in the areas of safety and related training activities. This concern has been carried over into the mineral processingsector which is, of course, a vital part of the mining industry.It is therefore imperative that mining people closely examine the policies, procedures and programs presently in place to determine if they meet the needs of the industry and its employees. Everyone stands to benefit: the companies, employees and the mineral industry as an important segment of the Canadian economy.Phrases such as ""Safety First"", ""Safety is Number One"", have a role to play in industrial safety programs but in reality are a shallow approach to the magnitude of the challenge. An industry must produce its products in a cost-effective way, with good employee relations. None of these objectives can be successfully achieved unless accompanied by good safety performance. Accidents both on and off the job result in very poor efficiency, high costs and poor employee relations.This chapter, Safety and Training, outlines those major areas that the author believes are necessary components for an industrial safety, health and training program, but are not all inclusive. More will surely be added as additional problem areas requiring attention are identified. The major sections discussed are: Development and Implementation of a Safety Program; Occupational Health; Training; and Audit Procedures.The author has drawn on his experience as both a mill superintendent, mine manager and superintendent of safety, health and training. The approach developed at loco Metals Manitoba Division is frequently used in this paper with examples and excerpts to better illustrate the subject, but does not represent the full scope of programs in place in the Division."

Jan 1, 1989

By Graham Walker

A new Code of Practice for the brake performance of off -highway vehicles was established in Alberta in 1976. Vehicles loaded to gross vehicle weight must be capable of stopping with mechanical brakes five times in quick succession on a grade of 10 per cent from a speed of 28 miles per hour. Comparative trials of various brake systems have been carried out and some combinations capable of meeting the Code are identified. Some problem areas in truck braking are reviewed and potential developments indicated.

Jan 1, 1977

By W. B. Agocs

"IntroductionWITH THE DISCOVERY of natural radioactivity at the end of the 19th century, and the design of equipment for the detection of this phenomenon, radioactivity surveys bad their inception. Early in the 20th century it was found that almost all rocks are radioactive to a certain degree. This radioactivity is due to the nuclear disintegration of six naturally radioactive elements: potassium, thorium, uranium, rubidium, samarium, and lutecium.The radioactivity of these elements manifests itself by the emission of some concentration of alpha, beta, and gamma 'rays'. Of these, the alpha and beta 'rays' are, respectively, helium atoms and electrons, while the gamma 'rays' are short wave length x-rays generated in the nuclear disintegration by the transformation of mass into energy.The alpha and beta rays, being particles of matter, are stopped ve• easily by material barriers, but gamma rays are extremely penetrating and they will pass through a foot or more of rock or several inches of lead.The radioactivity may be detected by the causing of ionization by the radiation. The radiation detectors may be divided into four classes: ionization chambers, proportion al counters, and Geiger counters, all of which use gas for ionization, and scintillation counters, in which a solid is ionized. The basic principle of all these detectors is the same; the difference lies in the method used to measure the degree of ionization produced by the rays. Currently, the scintillation counter is displacing, the other instruments in radioactivity surveying."

Jan 1, 1955