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By Rudolf E. Greuer

It is undisputed that an interaction between mine fires and mine ventilation systems exists. The ventilation carries the poisonous and sometimes explosive combustion products, which constitute the greatest danger of mine fires, through the mine and it provides the oxygen on which the intensity of the fire depends. The fire, on the other hand, can produce considerable ventilation disturbances which make it difficult to predict the path along which the combustion products travel. The opinions, how serious a threat such fire generated ventilation disturbances are, vary. Where shallow deposits are mined and brisk ventilation currents are used, it is frequently felt that these disturbances are of no serious concern. Where mine workings extend over larger elevation differences and where such disturbances have been encountered and been the cause of some larger disasters, their assessment is an integral part of all fire emergency plans. The author felt that the potential of digital computers for the design of ventilation emergency plans, contrary to their acceptance for conventional ventilation planning for more than two decades, is not yet fully utilized. He designed a program for the simulation of ventilation systems under emergency conditions in particular fires. This was part of work completed for a contract with the U.S. Bureau of Mines ( Open File Report OFR 115(1)-78)

Jan 1, 1980

By A. Anani

The need to optimize surface mining operations has led to the use of discrete event simulation (DES) modeling of truck-shovel systems. Often, these models assume truck cycle times are independent and identically distributed (iid) random variables, although, with significant bunching on the haul routes, this may not be valid. The objective of this paper is to present a methodology to (i) account for truck bunching due to slow trucks; and (ii) test for cycle time dependence (i.e. whether truck cycle time data is iid or not). We built a DES model that accounts for bunching due to a slow truck(s) and used the cycle times as data for further analysis. We then tested for cycle time dependence using Pearson correlation coefficients. The results show significant correlation of truck cycle times for different number slow trucks, with variable speeds. Assuming iid in modeling results in over-estimation of productivity and the uncertainty surrounding it. The over-estimation of uncertainty is pronounced when the relative difference in truck speed increases. The confidence interval of the means of truck loads/shift decreases with increasing number of slow operators. This work extends the usefulness of DES in truck-shovel applications.

Feb 27, 2013

By Hugh Douglas

In the past two years recent increases in silver prices over levels that prevailed for many years have changed supply/demand patterns. On the supply side, a silver mining boom is in progress in the United States and elsewhere. On the demand side, traditional uses of silver by individuals are dropping while industry is conserving. These changes will alter the supply/demand balance and bring about more moderate rises in silver prices, which in turn will impact the mining industry.

Jan 1, 1981

By A. Robles-Vega

In recent years, tellurium has been extensively used in the manufacture of semiconductor materials. For this type of application, high-purity tellurium is required. Selenium, lead and silicon are usually the main impurities in tellurium. During the electrolytic refining of copper, tellurium gold and silver are collected in the anode slimes. A pyrometallurgical treatment is used to recover gold and silver from the decopperized anode slimes whereas tellurium is oxidized and skimmed off from the refining furnace as a Na2CO3-based slag. In the slag, tellurium is present as sodium tellurite (Na2TeO3), which is further water-leached from the slag. The first step in the conventional process for tellurium recovery consists of the precipitation of the tellurium contained in the leaching solution as tellurium dioxide (TeO2). The solid TeO2 is then dissolved under acidic conditions for its further reduction with sulfur dioxide gas (SO2). In this paper, an alternative route for tellurium production is presented in which a sodium tellurate [Na2TeO4] intermediate is obtained by oxidation of the sodium tellurite in an alkaline solution following the water leaching step. Sodium tellurate is then dissolved in acid media and high-purity tellurium is obtained by reduction with SO2 gas. Experimental tests under laboratory conditions indicate that the novel process yields higher precipitation selectivity for tellurium than the conventional process. A comparison of its efficiency concerning impurities co-precipitation with respect to the conventional process is discussed.

Jan 1, 2009

By Aruna Mangalpady, Sandeep Kumar Jeripotula, Govinda Raj Mandela

Injuries due to work-related musculoskeletal disorders (WMSDs) are not uncommon in heavy industry like mining. Researchers acknowledged that occupational exposure to ergonomic risk factors is the chief causative factor in the development ofWMSDs. The aim of this study was to perform an ergonomic assessment of musculoskeletal disorders among surface mine workers in India. Standardized Nordic Questionnaire was used to collect subjective response from 500 workers. A stratified random sampling method according to surface mining work activity type was used to obtain the sample. Data was collected by means of a structured questionnaire, and the Statistical Package for Social Sciences (SPSS) was used to analyze data using descriptive and inferential statistical methods. A response rate of 85% was obtained out of 500 targeted groups. TheWMSDs prevalence for the 12-month period was estimated to be 44.23%. The mean and standard deviation of workers’ age were 41.31and 8.927, respectively. The study has shown that the operators of dumpers, dozers, and graders along with electricians were found to be the most susceptible to developWMSD problems. Among the most affected body parts, back disorder reported the highest. Further, it was found that working with static posture over the longer duration has a significant association with the lower back disorder (with p = 0.020) and bouncing and jarring has also significantly associated with the lower back disorder (with p = 0.023). Similarly, a significant association was found between repetitive work and neck pain (with p = 0.016). The study depicted a significant association between ergonomic hazards and WMSDs, like working with prolonged static posture, bouncing and jarring, and repetitive work.

Mar 13, 2020

By Cary Hirner, David Stacey, William A. Rochford

Design considerations and construction techniques were implemented to address groundwater infiltration from a confined aquifer during the excavation and lining of the Cady Marsh Flood Relief Tunnel. This 3-m finished diameter, 2-km long tunnel was successfully completed cost-effectively in an urban setting near East Chicago, Indiana. The soft ground was mined using a conventional tunnel boring machine with hydraulically actuated flood doors and supported with steel ribs and timber lagging. The tunnel was lined with cast-in-place concrete. Dewatering was implemented in settlement prone, boulder-laden ground in residential neighborhoods during construction to depressurize and partially dewater the aquifer at the tunnel horizon. This paper describes the design decisions and construction methods utilized to mitigate and limit infiltration into the tunnel during construction and operation, as well as manage ground settlement.

Jan 1, 2007

By T. M. “Mike” Gurr

"U. S. marketable phosphate rock production for the 2018 crop year (July 1, 2017 to June 30, 2018) showed an increase to 27.7 Mt (30.5 million st) from the 2017 crop year production of 27.1 Mt (29.8 million st), as reported to the U. S. Department of the Interior by the mining companies operating in the United States during crop year 2018 (Table 1). Domestic consumption decreased in the 2018 crop year to 23.9 Mt (26.3 million st), as compared to the 27.2 Mt (30 million st) consumed in crop year 2017. U.S. imports of phosphate rock increased to 3 Mt (3.3 million st) for the 2018 crop year from the 1.81 Mt (1.9 million st) for crop year 2017. Imports of phosphate rock were from Peru and Morocco. There was an increase of 2.85 Mt (3.1 million st) in producers’ stocks from 7.45 Mt (8.2 million st) in crop year 2017 to 10.3 Mt (11.3 million st) in crop year 2018 (Table I).For calendar year 2018, Florida and North Carolina phosphate rock production accounted for 75 percent of the total U.S. production, with the balance being produced in Idaho and Utah. The Florida and North Carolina percent of U.S. production is declining. U.S. production of 25.7 Mt (28.3 million st) in calendar year 2018 was produced by five companies at 10 mines in four states and accounted for approximately 9.6 percent of the world production of 267.7 Mt (295 million st) for calendar year 2018 (Table 2).In calendar year 2018, U.S. phosphate production decreased by 2.2 Mt (2.4 million st), while companies increased stocks of phosphate rock by 1.7 Mt (1.9 million st). The domestic production for calendar year 2018 of 25.7 Mt (28.3 million st) represents 78.4 percent of the domestic production capacity of 32.8 Mt (36.1 million st).At present, China reportedly produces more than 50 percent of the world’s phosphate rock. As a result of planned expansions, Morocco production has increased from 27 Mt (30 million st) in 2017 to 33 Mt/a (36 million stpy), which is approximately 12.3 percent of the world’s production, moving ahead of the U.S. production. In calendar year 2018, the U.S. phosphate rock production was 25.7 Mt (28.3 million st), which is less than 10 percent of the world’s production of phosphate rock (Fig. 1)."

Aug 1, 2019

By C. F. de Mendonca, T. Kater, R. P. de Souza

The authors are to be commended for finding a material for pellets binding that we were unable to uncover during the investigations that led to US Patent No. 3,748,116, “Method for producing metallic iron powder from iron ore concentrate, ” July 24, 1973, by G.G. Reed, Jr., J.M. Karpinski, and S.V. Fox. This patent concerns a method of processing “super’ ‘-concentrates prepared from magnetite or “blue dust” into molding-grade metallic iron powder for use as a bulk commodity, in contrast to current methods which produce small batches that are custom-blended with additives and/or alloye to customer specifications. The one thing we had not found at that time was an organic binder (mineral-matter-free ) that would allow induration to produce hardened pellets that would survive SL/RN Direct Reduction. Peridur appears to provide this missing link needed for large scale (200 t/a, or 220,460 stpy) single line plant capacity consistent with a low market price to ensure greatly broadened use of metallic iron powder. I hope that industry will adopt this combination so that metallic iron powder usage can fulfill its potential

Jan 9, 1985

By Dean Brox, Jason Morrison, Peter Procter

The Galore Creek Mine project is one of the newest major mining projects underdevelopment in Canada. The project is located in a very remote area of northwester British Columbia and is being developed by Nova Gold Resources of Vancouver. The mine project comprises one of the largest and highest grade undeveloped porphyry-related gold-silver-copper deposits in North America. In order to access the mine site anew 120 km road is planned to be constructed including a 4.4 km mine access road tunnel. Glaciers with heavy snow pack cover approximately two-thirds of the tunnel alignment with a maximum cover of 1,200 m. The size of the access road tunnel is about 50 m2 and has been designed as a large single lane road tunnel to accommodate the transport of large size mining equipment for mine start up and ongoing operations. The rock conditions along the tunnel alignment comprise very strong volcanic rocks. Key services for mining operations will be incorporated into the tunnel comprising diesel and power as well as the concentrate pipeline. Structural portal canopies have been incorporated into the tunnel design due to the risk of rockfalls and avalanches in the portal areas. The mine access road tunnel is a significant and critical-path component to the overall project to provide vehicular access to allow construction of the mine site. In order to meet the expected mine start up date the construction of the tunnel works are to commence prior to any other works at the mine site and will be constructed entirely by helicopter support. Geotechnical investigations commenced in the summer of 2006 with the removal of the overburden materials at the portals to assess bedrock conditions. Tunnel construction from both portals is expected to commence in the spring of 2007. The construction of the mine project is subject to and awaiting environmental approval in the spring of 2007. The mine access road tunnel will be the longest private road tunnel in North America. The key design and constructability issues for the mine access road tunnel project are presented and discussed.

Jan 1, 2007

By J. Haynes

Coal mines in the eastern US often use sloped shafts as production beltways for ore removal, as means of access for supplies, and for ventilation. These structures are usually completed with the help of a contractor. In late 2011, Frontier-Kemper Constructors was engaged to build a slope for a coal mine in southern Indiana. Although the site was located in familiar Illinois basin formations, the geology proved to be very difficult. This paper describes some of the challenges faced during excavation of this slope and the methods used to overcome them, including changing the method from conventional drill and blast to cutting with a continuous miner.

Feb 27, 2013

By R. Hipsley, D. Arbonies, P. J. Dobak, M. Visher

The Storm deposit is a high grade breccia hosted “Carlin-type” gold deposit located at the north end of the Carlin Trend. Storm consists of 3 smaller deposits: 1) 49er Zone, 2) End Zone, 3) Discovery Zone. Structural intersections and favorable stratigraphy at the Paleozoic Popovich/Rodeo Creek formation and Bootstrap limestone formation contact are the primary known controls to gold mineralization at Storm. High grade silica-sulfide breccia occurs in the footwall of the north-south trending, dike filled, Dee fault. This mineralization cross-cuts silicified heterolithic breccia zones localized above the Bootstrap limestone where northwest, dike filled, reverse faults cut this structural-stratigraphic horizon. 40Ar/39Ar dates of 37.57+ 0.34 Ma (basalt dike) and 162 Ma (lamprophyre dike) have been obtained from dikes in the Dee pit which are locally mineralized by the same event as Storm. This paper will focus on the descriptive aspects of the Storm deposits.

Jan 1, 2001

For the third successive year it appears that demand for platinum will exceed supplies of newly-mined metal, forecasts Johnson Matthey in its "Platinum 1987 Interim Review." Based on data available at the end of August 1987, Johnson Matthey estimates that western world demand for platinum could exceed 93t (3 million oz) for the first time ever in 1987. Given a likely increase in demand of 4.3t to around 94t (140,000 oz to around 3.02 million oz), up by about 5% over 1986, there would be a 1.8- to 2.2-t (60,000- to 70,000-oz) shortfall in 1987 supply. South African mines enjoying undisrupted production last year after strikes affected Impala's output in 1986. The rate of increases in western world supplies, though, has probably not kept pace with the growth in demand. A downturn in US demand for platinum was counterbalanced by substantially increased purchases from Japanese and Western European consumers of the metal. Total imports of platinum into Japan in 1987 may have reached a record level of 45t (1.45 million oz). The largest source of demand for platinum remains its use in autocatalysts US and Japanese auto manufacturers reduced their platinum purchases in the wake of falling car production. Therefore, a small decline in overall 1987 sales of perhaps 780 kt (25,000 oz) was expected in 1987. Western European demand, however, rose strongly as a result of increased output. The spread of exhaust emission control regulations has sharply boosted the number of cars equipped with three-way catalysts containing platinum and rhodium. Western European auto makers probably needed 5.6t (180,000 oz) of platinum last year, a 50% increase over 1986. The jewelry industry, the second largest user of platinum, increased its offtake of platinum in 1987. Japan, the key to the jewelry industry's consumption of platinum, could absorb 24.8 to 26.4 (800,000 to 850,000 oz) in 1987, compared with 23t (740,000 oz) in 1986. Platinum has wide and diverse applications in industry. Other major users are the chemical, glass, electronics and petroleum industries. They were expected to increase their aggregate demand by about 1.8t (60,000 oz), or 11% in 1987. Investment demand for small platinum bars and coins of up to 311g (10 oz) dropped back in relatively inhospitable conditions. This, after rapid increases in recent years and a surge in US demand in 1986. However, Japanese investors purchasing bars weighing 500g or 1 kg (16 to 32 oz), and considered more speculative, recovered last year. Over the first eight months of 1987, platinum performed strongly on the open market with average prices well up from 1986 in dollar terms. But the increase was less marked where measured in sterling or yen. Platinum ad¬vanced by $3.70/g ($115 per oz) between Jan. 1 and mid-September with the average price having been surpassed only in the heady days of 1980. Johnson Matthey believes that supply and demand appear likely to keep more or less in step on a gently rising path. The recent open market volatility will continue with prices fluctuating widely over short periods. Writing in mid-September, and basing its view on the tangible evidence of platinum's price fall since the review was written, the company's assessment of price prospects is unchanged. Demand for platinum remains strong all-round. In October, imports of platinum into Japan were exceptionally high. And in the US and Japan there was a marked resurgence of demand from private investors. Although market sentiment may have been influenced in part by the news of several potential new platinum mines in South Africa, the full effects of these prospects on supply, even if they were all to materialize, would not be felt before the early-mid 1990s, Johnson Matthey said. According to the review, no radical change in platinum supplies is discernible in the near-term. Incremental growth from South Africa can be expected as the major producers continue to make the most of their existing resources. The Soviet Union may be keener to sell than it appeared earlier in 1987, especially if prices hold up, but a substantial increase is improbable. Canadian supplies are not capable of much variation from present levels. The palladium-rich Stillwater mine will make a modest contribution. Referring to the investment market, Johnson Matthey concluded that despite this year's reduction in sales of small-denomination investment products, platinum does appear to have established itself with private investors. Bearing in mind how business multiplied in comparatively unfavorable conditions before 1986, it is reasonable to look for a resumption of growth once the climate improves.

Jan 2, 1988

By M. R. Shahan, W. R. Reed, S. Klima, T. W. Beck

"Testing was conducted to determine the ability of foam to maintain roof coverage in a simulated longwall mining environment. Approximately 27% of the respirable coal mine dust can be attributed to longwall shield movement. Developing controls for this dust source has been difficult. The application of foam is a possible dust control method for this source. Laboratory testing of two foam agents was conducted to determine their ability of foam to adhere to a simulated longwall face roof surface. Two different foam generation methods were used; compressed air (CA) and blower air (BA). Using a new imaging technology, image processing and analysis utilizing ImageJ software produced quantifiable results of foam roof coverage. For CA foam in 3.3 m/s (3.3 m/s (650 fpm)) ventilation at 3 minutes after application, 98% of agent A was intact, while 95% of agent B was intact on the roof. At 30 minutes after application 94% of agent A was intact while only 20% of agent B remained. For BA in 3.3 m/s (3.3 m/s (650 fpm)) ventilation, the results were dependent upon nozzle type. Three different nozzles were tested. At 30 minutes after application 74-92% of foam agent A remained, while 3-50% of foam agent B remained. CA foam seems to remain intact for longer durations and is easier to apply than BA foam. However, more water drained from the foam when using CA foam which demonstrates that BA foam retains more water at the roof surface. Agent A seemed to be the better performer as far as roof application is concerned. This testing demonstrates that roof application of foam is feasible and is able withstand a typical face ventilation velocity, establishing this technique’s potential for longwall shield dust control. INTRODUCTION NIOSH personnel have visited many longwall operations at various geographical locations in the U.S., conducting benchmark surveys to characterize current operating practices and dust control measures in use. Sources of respirable dust generated from the longwall face have been identified as: intake (10%), stage loader (20%), shields (27%), and shearer (43%) [1]. Dust generated from the shearer, armored face conveyor, and the stage loader can mainly be controlled by water sprays and increases in ventilation air quantities, however, research has demonstrated limited effective controls for dusts generated by shield movements [2]. One possible approach to mitigating shield dust generation is to apply a layer of water or foam to the shield-roof interface. Once this interface is blanketed with foam or water, dust will be less likely to become airborne and contaminate the airways over the personnel walkways. Though water is an abundant and common dust control measure, roof applications have limited success because water is unable to remain in-place in adequate quantities for the necessary duration between application and shield advance. Past and current testing of foam for material properties has shown that it has longer applicability times, ranging from 10 to 60 minutes [3] and has shown better performance for dust control, ranging from 19-96% improved efficiency over water [4, 5, 6, 7, 8]. The majority of this foam dust control research has focused on dust control efficiency at the longwall shearer or continuous miner cutting drum."

Jan 1, 2017

By Edmond J. O’Donovan

South Bulga is a new longwall operation located in the Hunter Valley coal-mining region in Southeastern Australia. The mine’s objective is to achieve productivity levels significantly higher than the current industry average. From the day longwall production began, South Bulga’s output was below both budget and industry expectations, primarily because of the poor performance of the conveyor system. In the past, conveyor systems have been seen as an adjunct to the mine plan, not as an integral part. At past production levels, this approach may have been acceptable. In today’s mining operations, the conveyor system must be treated as integral and vital to the mining operation. The conveyor system is analogous to the vascular or circulatory system of the human body. Of itself, the system does not do anything, but if it is not functioning satisfactorily, the mine cannot operate.

Jan 1, 1996

By Z. T. Bieniawski, E. H. Skinner, R. A. Cummings, F. S. Kendorski

INTRODUCTION Caving Mine Drift Support Design The support of production drifts remains a high-cost item facing the developer or operator of an underground caving mine. Support costs are incurred well in advance of ore production, and there is a strong need to minimize these pre-production commitments of capital. Due to the extensive rock loads that normally develop during the caving process, the support used in caving mines is typically quite heavy and therefore costly. The process of designing this support increasingly makes use of basic tunneling principles, but is hindered by the still-incomplete state of knowledge of rock behavior in caving mines, and high variability of geological conditions in caving orebodies. Caving mines differ from tunnels in that the deformations and rock loads induced are transient and dynamic in occurrence, and are normally large in magnitude, often well in excess of rock mass strength. As opposed to tunnels, caving mine layouts are more intricate, and the methods and effects of construction ordinarily are not as closely monitored. Safety factors in mining tend to be lower and rock masses tend to he weaker. These aspects prevent strict application of tunnel design technology to caving mine drift support, with the result that mine drift supports are commonly designed chiefly on the basis of experience at other mines. Mining procedures at caving mines are evolved in response to site-specific requirements, to the extent that there are really as many caving methods as there are caving mines.

Jan 1, 1983

By K. Fleck

Energy West Mining Company (EWMC) has implemented a geologic program for improving stability and support requirements along deep two-entry longwall gateroads at its Deer Creek Mine operations located near Huntington, Utah. Together with geotechnical monitoring and concurrent review of mine seismicity in cooperation with MTI staff, it has become possible to improve longwall layout designs for two seam extraction of the Hiawatha and Blind Canyon seams. The geologic program consists of surface and in-mine exploration drilling, surface and in-mine geologic mapping, rock mechanics testing and detailed measurements of changes in depositional and structural conditions during development of every longwall gateroad. The geotechnical program consists of underground measurements at seven locations in two neighboring mining districts located in the Hiawatha and Blind Canyon coal seams under moderate to deep cover. Within the last five years, additional measurements, including data on seismicity and face conditions, have been incorporated into the data collection program for verifying the insitu coal strength and load transfer mechanisms for improving two-seam designs and support systems. Geologic mapping results are also used to predict local stability of headgate and tailgate entries, combining mine roof mapping, stratigraphic profiles of the coal and roof, and depth-of-cover information and dual-seam mine overlays, for use by operations personnel in planning roof and rib support for the retreating longwall sections.

Jan 1, 2012

By Raj K. Singhal

Canada is a world class producer and exporter of minerals and mineral products. Canadian open-pit mines are highly mechanized and use state-of-the-art equipment and support technology. During the past few years, productivity improvements at Canadian open-pit mines have been achieved by taking advantage of larger equipment, in-pit crushing and conveying, truck dispatch systems and electronic management tools. The most recent developments are related to hydraulic transportation and the application of global positioning systems (GPS). Mine planning has become computerized. Environmental issues are dealt with in all phases of planning. Equipment modifications are pursued with vigor to keep the equipment functioning in the hostile Canadian north. In 1997, the mining and mineral processing sector employed 370,000 Canadians, contributing $26.2 billion to Canada's gross domestic product (GDP). The value of production of the Canadian mineral industry, including coal, amounted to $19.1 billion in 1997. Gold remained Canada's leading mineral with production valued at $2.8 billion. This was followed by copper ($2 billion), coal ($1.9 billion), zinc ($1.6 billion) and nickel ($1.9 billion). [ ] Synthetic crude oil from oil-sands mining operations in Alberta represents an important part of Canada's petroleum production. In 1997, the value of synthetic oil production was $2.87 billion. Canadian oil-sands mining has contributed significant technology developments in Canada.

Jan 1, 1999

By Daryl E. Radcliffe, Raymond M. Stateham

The Bureau of Mines, under a Cooperative Agreement with the Bear Coal Company, Somerset, Colorado, conducted a large scale evaluation of the effect of time lapse on roof stability. Time lapse in this study is the interval between exposure and permanent support of the mine roof. The study indicates that time lapse is not a critical factor in roof stability provided permanent support is installed before catastrophic failure begins. Concurrently with the time lapse study, investigations were made of stress distribution around resin-grouted bolts, the regional stress field, and anomalous geologic conditions. The behavior of the resin-grouted bolts, at least in the Bear mine, appears to fit the Coulomb-Navier Theory. Geologic conditions are primary factors in trends of roof stability that extend across the mine.

Jan 1, 1982

By James A. Madonna

Information gathered while studying geological parameters that govern fine gold deposition in the a1luvial environment can be applied to the technological development and selection of fine gold recovery systems. It is recognized that substantial gold losses occur in the minus 1.5 mn (minus 12 mesh) fraction using conventional sluicing systems. Within the past two decades much attention has been given the design and efficiency of these thick bed concentrators. Studies and comparisons drew information from several foreign and domestic placer operations. These studies concentrated on: 1) the physical and chemical properties of alluvial gold 2) the parameters that control fine gold deposition 3) the geometrical form, components and general working structure of conventional sluicing systems 4) the physical properties which contribute to the overall efficiency of a sluice system 5) the comparison of three major styles of conventional sluicing systems. A dramatic improvement regarding fine gold recovery and water quality was observed when using modern multiple-channel sluicing systems in place of conventional single-channel sluicing systems.

Jan 1, 1988

By T. R. Ellis

Minerals Appraisers/Valuers often find great difficulty or failure in attempting to employ the Sales Comparison Approach to the Market Value Appraisal of development and operating stage mineral properties. An important factor generally overlooked is a comparison of net operating income (NOI) margins on a per-unit-of-production basis between mineral properties, whether these be demonstrated or forecast margins. NOI margins can vary greatly between mines or quarries that are producing similar products. Ultimately, the expected NOI margin determines what a buyer is willing to pay for an income producing property. Common criticisms of the sales comparison approach by minerals appraisers are introduced. These are counterbalanced by raising some issues in the way the inputs for the Income Approach are usually derived by minerals appraisers, and by review of some conspicuous examples of the much too common misuse or abuse of the income approach in market value minerals appraisals. Example transaction analyses and sales comparison analyses are used to demonstrate the author?s methodology for adjusting units of resource in his transaction adjustment tables (see APPENDIX). The examples are used as the basis for discussion of ways to employ adjustments for operating economics and many other factors, while cautioning about the potential for double counting. The conclusions include a recommendation that minerals appraisers attempt to apply at least two of the three valuation approaches when appraising the market or fair value of development and operating stage mineral properties, the two being the sales comparison and income approaches.

Jan 1, 2011