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By SIMON DIAZ-QUEZADA, HUMBERTO ESTAY

The heap-leaching process is widely used for recovering different metals. In Chile, copper production by heap leaching has been accounting for between 30 and 40 percent of annual copper production over the last 10 years. This level of production has been achieved through and supported by the use of a mathematical relation known as the leaching ratio (LR), which correlates operational parameters with metal extraction in a heap-leaching operation. In spite of the widespread industrial use of this relation, few scientific studies mention it. This disparity between industrial practice and scientific research could lead to operational decisions that lack substantial theoretical support and to scientific studies with limited industrial impact. This study describes the LR and its current uses and limitations.

By Keith L. Harris

Economic activity in the United States picked up in the third quarter, according to the latest estimate released by the Department of Commerce. Real gross national product (GNP)--the Nation's output of goods and services--grew at a seasonally adjusted annual rate of 4.3%, or $17.6 billion, compared with a rate of 1.9% for the second quarter of 1985 and 1.6% for the third quarter of 1984 (table 1). The 4.3% rate is one percentage point above the preliminary estimate reported in the August/September issue of Minerals and Materials. Most of the upward revision was due to the change in business inventories and Government purchases, while the figure for net exports was revised downward substantially. The 4.3% growth bettered by 1.5% the average rate of growth in GNP from 1974 through 1984 and was 1.1 % above that of the period from 1975 through 1984 and 0.7% above that of 1980 through 1984. Of importance to the minerals industry was the $14.4-billion growth in personal consumption expenditures, $10.2 billion of which was for durable goods (especially domestically produced automobiles) and the growing residential investment. The net export deficit continued to grow, however, and investment in nonresidential structures, producers' durable equipment, and business inventories declined. Prices, as measured by the GNP fixed-weighted price index, increased at an annual rate of 3.1% in the third quarter, compared with 3.9% in the second quarter. The slower rate of inflation resulted mainly from a decline in energy prices, following second-quarter increases. Fourth-Quarter Prognosis Many of the economic data available for October and November indicate that the economy is growing modestly and will continue to grow over the next 3 to 6 months. The composite index of leading indicators, designed to predict economic activity within 3 to 6 months, rose 0.3% in October, the sixth consecutive monthly advance, according to the Department of Commerce. Six of the 11 available leading indicators were positive: Stock market prices rose, as did sensitive material prices, credit outstanding, and manufacturers' new orders for consumer goods and materials; initial claims for unemployment insurance decreased, and firms were getting slower delivery of goods. Four of the indicators were negative: Business formations, homebuilding permits, contracts and orders for plant and equipment, and money supply all declined. The average hours worked per week, already at a high level, remained unchanged.

Jan 1, 1985

By C Dick

Over the past three decades, mining operations have seen a significant increase in the use of contractors for mining, camp management and catering, recruitment, maintenance, power management, and commissioning. More recently contractors have been engaged for stores and logistics, OH&S, environmental, exploration, training etc. In some countries, such as South Africa, the trend is towards total outsourcing of all aspects of a mining operation which is coordinated by the owners’ management team.During the Global Financial Crisis (GFC) more Australian companies considered and/or took on this approach to recruiting for both projects and operations as mining companies were forced to rethink their corporate strategies as commodity prices plummeted to low levels, pushing operations and projects into potentially financially unviable territory.This paper discusses the labour recruitment, commissioning and operating strategy of Western Areas NL (WSA), with the assistance of Independent Metallurgical Operations Pty Ltd (IMO), as it progressed construction, commissioning and operation of the Cosmic Boy nickel concentrator at the Forrestania Nickel Project during and post GFC. The use of IMO contractors allowed Western Areas to mitigate labour cost risk during the uncertainty caused by the GFC and let their management team focus on the task of bringing a new operation into viable and profitable production.

Aug 8, 2011

By Michael E. Karmis

New and developing communication systems en-able underground miners to, not only connect to the surface from an increased communication coverage area, but also to be discovered in the event of an emergency. Communication and tracking systems are required by the U.S. Mine Safety and Health Ad-ministration (MSHA) regulations, aiming to enhance health and safety and routine production in underground operations. Modeling a mine?s potential communication coverage area will increase overall coverage and efficiency of the communication network itself. Modeling the propagation of wireless communications enables ideal broadcast locations to be found when designing a communications network. Strategic placement of broad-cast devices results in a reliable communication network that can better withstand disruption in daily operation and during a time of emergencies. Research on wireless communication in mines has been ongoing since 1922, when the U.S. Bureau of Mines performed experiments in its experimental mine in Bruceton, PA (Schiffbauer & Brune, 2006a). Ac cording to Dobroski and Stolarczyk (1982), ?as early as 1922, Bureau of Mines experiments showed that radio propagation in mines was possible but not practical.? In 2006, the underground communication technologies available to the mining industry had inherent problems that limited communication capabilities. Because harsh underground mine environments significantly reduce line of sight and propagation range and introduce power and safety concerns, the overall effectiveness of underground communication technologies were limited. After several coal mining accidents in early 2006, the U.S. Congress responded with the Mine Improvement and New Emergency Response (MINER) Act, enacted

Jun 1, 2010

Contributions made by mining have played a much more significant role in the development of civilization than is generally conceded by historians or recognized by ordinary citizens. In modern society, mined products pervade all industry and the lives of all civilized people. Early man relied largely on stone and ceramics, and eventually metals, to fashion tools and weapons. Civilization was advanced by discoveries such as abundant supplies of high-quality flint in northern France and southern England and firesetting to break rock. Middle Eastern cultures flourished not only because of agriculture and trade, but also because of mineral-rich deposits nearby. The earliest miners date back perhaps to 300,000 BC; their quest was for nonmetallic minerals (chert, flint, obsidian) suitable for utensils and eventually for weapons. Other rocks and minerals (ceramics, clay, salt, meteoric iron) attracted the miners for jewelry, cosmetics, construction materials, food seasoning, and coinage. At first, their excavations were confined to the surface, either pits or placers. But by about 40,000 BC, mine workings had been extended underground as short adits or shafts, and by 8000 BC as elaborate interconnected openings 300 ft (90 m) in depth. Metallurgical separation of metals from their ores and their subsequent fabrication evolved gradually over the centuries, copper being the first liberated (c. 7000 BC) followed by lead, silver, gold, and iron. Man enhanced both the sophistication of his

Jan 1, 2008

By G. B. Harris

It has long been appreciated that chloride chemistry has a number of advantages over the more traditional sulphate route for both extracting and separating metals. Modern materials of construction, coupled with the development of a more cost-effective and efficient hydrochloric acid regeneration technology mean that chloride-based processes are now more competitive and attractive. Such processing routes are able to recover more of the contained metal values in a feed, including iron in a benign and/or marketable form, and particularly the so-called rare and rare-earth elements which are increasing in demand in our electronic age. These factors, therefore, add appreciably both to the overall economics of a project, but also offer a much more sustainable approach to our dwindling natural resources. Additionally, chloride-based flowsheets can be much more environmentally-friendly, offering practical alternatives to two of the biggest headaches faced by the industry, namely cyanide usage and the generation of red muds. This paper presents a brief theoretical background, focusing on the latest developments of ferrous iron oxidation and the low-temperature, selective hydrochloric acid regeneration process, which is the key unit operation for any chloride flowsheet, and discusses in general the advantages of the chloride approach. Several recently-developed flowsheets, which have been tested at the miniplant level, are presented for gold, base metals, titaniferous magnetites and lead-silver ores wherein the advantages of considering a chloride approach are highlighted.

Jan 1, 2014

By J. C. Griffiths

There are two kinds of problems concerning the elements of a population : the first is to estimate the proportion of some specific kind of element in the population, e.g. the amount of gold in a block of ground (equals population) or the proportion of mercury in a sample; the second is to estimate the length, breadth, volume, etc., of a specific kind of element, e.g. the grain size of quartz grains in a beach sand or the size, shape and arrangement of lenses of ore in an ore deposit. Given a specific objective, a bounded population, identified elements and the element characteristics of interest, it is then necessary to select a sample of the elements from the population and the problem of sampling requires a decision on how to select the sample. It is also necessary to establish, either by heuristic analysis or empirically, based on long experience, the model frequency distribution of the desired element characteristics: in general, constant-probability models are used as models, the binomial or Poisson for count data and the normal distribution for measurements (or their transformed equivalents). The objective of sampling then becomes to obtain an appropriate statistical estimate of the desired population parameter: for example, the estimators may be the mean (X) and variance (a2): these should be unbiased sufficient estimators of their corresponding parameters (u, a2, respectively). Statistical tests are performed in order to determine that the estimators are of the appropriate kind: all statistical tests are designed to test against bias of a specific kind, although they are stated as tests against randomness. Given a random sample of some population, the estimators are usually stable and adequate to solve the sampling problem. Random samples are simple to define but exceedingly difficult to achieve in practice: in selecting a sample, if every element in the population has an equal chance of occurring, then the sample is a random sample. Interaction between the arrangement of elements in a population, i.e. its structure, and the sample selection process frequently introduces bias—that is, some elements have more chance than others of appearing in the sample and, hence, the sample is not random. An algorithm for dealing pragmatically with this aspect of the sampling problem offers one way of achieving random samples and, therefore, adequate estimators. Examples of the use of this algorithm on various kinds of geological populations, in both field and laboratory, illustrate the requirements for solving sampling problems and the achievement of appropriate estimators.

Dec 1, 1971

By Bradford F. Townsend, Marc R. Kritzer, Michael F. Roach, Dennis Ofiara

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2008

By H. R. Bullis

"A 2003 paper discussed the idea that as gold mining companies grow larger it becomes more difficult for them to discover or acquire new gold deposits large enough to replace extracted reserves on an annual basis. Deposits of the size required to replace annual production of very large gold producers (VLGPs) are statistically few. An update in 2005 reviewed VLGPs with respect to production, reserves, and reserve life and observed recent changes in the gold mining industry. Now, more than 12 years later, this paper explores how those VLGPs have fared and how the gold mining industry has changed. KEYWORDS Gold, Gold price, Production, Reserves, Very large gold producer (VLGP) RÉSUMÉ Un article de 2003 examinait le concept selon lequel, à mesure que les sociétés d’exploitation aurifère se développent, il leur devient de plus en plus difficile de découvrir ou d’acquérir de nouveaux gisements aurifères suffisamment grands pour remplacer les réserves qu’elles extraient annuellement. Statistiquement, il existe très peu de gisements de la taille requise pour remplacer la production annuelle des très gros producteurs d’or. Une mise à jour de l’article en 2005 se penchait sur la production, les réserves et la durée de vie des réserves des très gros producteurs d’or ; elle portait sur les récents chan¬gements au sein de l’industrie de l’exploitation aurifère. Aujourd’hui, plus de 12 années plus tard, cet article explore l’évolution et les résultats de ces très gros producteurs d’or, ainsi que les changements qu’a connu l’industrie de l’exploitation aurifère. MOTS CLÉS or, prix de l’or, production, réserves, très gros producteurs d’orINTRODUCTION In 2005, the world’s top five gold producing companies were Barrick (after purchasing Placer Dome; 9.1 million ounces; Barrick Gold Corporation, 2005; Placer Dome, 2005), Newmont (8.2 million ounces; Newmont Mining Corporation, 2005), AngloGold Ashanti (6.2 million ounces; AngloGold Ashanti Limited, 2005), Gold Fields (4.2 million ounces; Gold Fields Limited, 2005), and Harmony Gold (3.0 million ounces; Harmony Gold Mining Company Limited, 2005). During the years leading up to that point, there had been a flurry of activity in the gold sector directed at consolidating production and reserves to create very large gold producers (VLGPs). As defined in Bullis (2005), a VLGP is a mining company whose primary busi¬ness is gold production and that has annual gold production more than 5 million ounces. A stated corporate goal of several of the VLGPs at the time was to become the largest gold producing company in the world."

Jan 1, 2019

By H. Kinilakodi

The authors previously developed a methodology that combines injury and citation measures into an overall mine safety performance evaluation tool, called the safe performance index (SPI). It can be easily adopted by mine operators to monitor trends in their injury and citation experiences as a risk assessment method. In this paper, six normalized safety measures and the SPI are used to evaluate the health and safety risk that existed at mines in the two years preceding the occurrence of a fatality. The percentage of mines is given for which the risk was high or where trends of some of the safety measures indicated moderate risk. In 50% of the mines, this mine safety performance tracking method could have been helpful to the companies, state agency or the U.S. Mine Safety and Health Administration (MSHA) in recognizing and addressing emerging problems with actions that may have been able to predict high-risk conditions, the fatality and/or other serious injuries. The approach would have given extra scrutiny to the risk for mines that encompassed 74% of the fatalities during 2007-2010.

Jan 1, 2012

By Raymond B. Ladoo

Talc is a hydrous magnesium silicate having the chemical formula H2Mg3 (SiO8 ) 4 ; it is often called steatite, soapstone or potstorie, and by the trade names talc clay, agalite, asbestine, and verdolite. The term talc may be used to include all forms of the pure mineral, whereas steatite denotes particularly the massive, compact variety, and soapstone the impure, massive form that often contains only 50 per cent of talc. Merrill 1 says: The name soapstone is given to dark-gray and greenish talcose rocks, which are soft enough to be readily cut with a knife, and which have a pronounced soapy or greasy feeling; hence the name. Such rocks are commonly stated in textbooks to be compact forms .of steatite, or talc, but as the writer has elsewhere pointed out, and as shown by the analyses here given, few of them are even approximately pure forms of this mineral, but all contain varying proportions of chlorite, mica, and tremolite, together with perhaps unaltered residuals of pyroxene, granules of iron ore, iron pyrites, quartz, and, in seams and veins, calcite and magnesian carbonates. When pure, talc is soft, having a hardness of 1, but when impure or when it grades into its varieties, the hardness increases to 3 or 4. Talc ranges in color from pure white and silvery white through gray, green, apple green, gray green to dark green, nlso yellow, brown, or reddish when impure. It is rarely, if ever, found in wellformed crystals, but often occurs in foliated plates or in fibrous aggregates. It is commonly compact or massive or in fine granular aggregates. Several analyses of talc from different regions ·are given in Table 1. Talc has several varieties, the most important of which is Rensselaerite. This variety, found in a small area near Gouverneur, St. La.wrence County, N. Y., is a hard, fibrous, -waxlike mineral having the same chemical composition as talc, but lacking its softness and its peculiar greasy feel. Its hardness and its peculiar fibrous form, even when ground, have made its grinding and separation a separate problem. In addition to the varieties of talc and soapstone, the mineral pyrophyllite or agalmatolite, a hydrous silicate of alumina, with the formula H2Al2 (Si08 ), is also mined and sold as talc. It resembles talc in color, feel, luster, and structure, and may be successfully substituted for true talc for most uses. In this paper it will be considered as one of the commercial forms of talc.

Jan 1, 1923

By W. R. Reed, G. W. Luxbacher

Mine worker exposure to respirable coal dust and silica dust can result in coal workers’ pneumoconiosis and silicosis which are occupational respiratory diseases that have no cure and are ultimately fatal. In 2021 the Mine Safety and Health Administration reported just over 11,000 operating metal/nonmetal mines with the potential for silica dust exposure for just under 200,000 miners. The National Institute for Occupational Safety and Health (NIOSH) conducts respirable coal and silica dust research associated with mining through its Office of Mine Safety and Health Research. NIOSH respirable coal and silica dust research began under the U.S. Bureau of Mines (USBM), which initially examined silica dust, progressing to include coal dust, with a stronger focus after 1969 with the passage of the Federal Coal Mine Health and Safety Act. A review of extramural research to develop real-time respirable silica dust monitor is presented along with a brief history of silica dust regulation.

Feb 1, 2024

By R. Jacobson

This paper presents comparison of proposed future solution and in-situ mining methods for in-situ leaching and recovery of uranium, gold, silver, and copper. We propose to show that in the future new extraction methods for each metal will eventually evolve for each hydrometallurgical process step, i.e. in-situ leaching, recovery, and concentration; precipitation and reduction; and drying, when required--without generating waste or bleed streams. In the future, to be highly profitable, these forms of mining will develop into an integrated system to eliminate waste streams using safe, powerful lixiviants. This integration will include, with some exceptions, improvements in the following areas of process development: 1. Lixiviant selection and in-situ leaching technique, 2. Target metal recovery and concentration (at a surface hydrometallurgical facility) from the circulating pregnant lixiviant stream, 3. Target metal precipitation or reduction, where decant water from the precipitate dewatering step is reusable for resin or solvent strip liquor (eluant), 4. Final preparation of target metal for sales, i.e. drying, purification, casting, packaging, 5. Restoration where most of the groundwater restoration process is performed at the same rate as multi-wellfield mining.

Jan 1, 1987

By M. F. Almeida

"Due to the randomness of all factors influencing the sintering operation, a two-stepped procedure is proposed to find the best way of using stocked fines at a plant producing Fe-Mn alloys for the steelmaking industry. The approach is based on the following: (1) predict the result of the sintering operation by establishing the best multilinear regression model using some of the characteristics of the loaded material; and (2) find the best solution under a minimizing cost criteria by solving a linear optimization problem using the regression equation plus constraints on the feed and product. IntroductionSome tests carried out using 20% to 30% of sinter in the material loaded into a 60 000 KVA Tysland-Hole electric furnace producing Fe-Mn alloys for the steelmaking industry indicated: (1) a meaningful decrease in the off-gas temperature and, consequently, a better energy use due to the material higher porosity; (2) more uniform heat distribution as a consequence of the electrode reaction zone enlargement; (3) an improved furnace control resulting in a smoother operation; and (4) a decrease in gas production facilitating the off-gas treatment. For some years, this plant used only the coarse fraction of the Mn ores, thus stocking all the received and own-generated fine particles. In view of the mentioned results, a strategy for increasing the use of stocked fines was formulated, including a step where it was necessary to decide which components and respective quantities should be used in the blends to be sintered (Almeida, 1984).It is well known that several factors affect productivity and energy consumption in sinter production, also influencing the product quality. Raw materials characteristics, namely chemical and size composition, affect permeability to gases and may or may not allow a deeper bed. In general, finer ores decrease permeability, increasing electricity consumption by fans, but due to their higher specific surface area, react more completely with other components in the mixture. For coke granulometry, a compromise must be obtained in order not to burn it too quickly nor to widen the flame front, therefore decreasing productivity. Decreasing coke in the blend also acts in sinter bonding, decreasing its consistency and increasing crushing and return fines. Moisture addition also influences components mixing, pre-agglomeration, bed permeability and, consequently, sintering productivity. Therefore, optimum conditions must be established for both a given sintering plant and the components in the feed (Dawson, 1993)."

Jan 1, 1998

By D. Blackwell, W. R. Reed, G. Ross, S. Peters, M. Shahan

Dust collectors for roof bolting machines generally use a dry box to collect the roof bolting material. Recently, an underground mining operation converted a dry box dust collector to a wet box dust collector with a unique exception from MSHA for testing purposes.Water is routed to the roof bolter fromthe main water line of the continuous miner. The wet box utilizes a water spray to wet the incoming material. Testing was conducted comparing the two different collector types. Respirable dust concentrations surrounding the roof bolter with the different collection boxes were similar. The main difference in respirable dust concentrations occurred when cleaning the dust boxes. The average respirable dust concentration during cleaning of the wet box was 0.475 mg/ m3, and during the cleaning of the dry box, the average respirable dust concentration was 1.188 mg/m3, a 60% reduction in respirable dust concentration. The quartz content of the roofmaterialwas high, ranging from 28.9 to 52.7%during this study. The results from this study indicate that using the wet box as a collector reduced exposure to respirable dust up to 60% when cleaning the collector boxes.

Aug 26, 2020

By Phil Shelton

What exactly does clean coal mean? Mining coal creates dust and releases methane gas. And burning coal liberates CO2 and emits particulates, including SO2 and NOx. Coal creates wastes that are often stored in unsightly and potentially dangerous slag heaps and lagoons. When clean coal technology is discussed, it sometimes seems that creating modern or ?ultra super critical? coal-fired power stations is presented as the main or even the only answer. However, there may be a more holistic approach. Using the energy potential of coal is always going to have environmental impacts. Some of these will be negative. But the need to secure future energy resources demands that society tackle these negative issues and find ways to minimize and offset them.

Jan 1, 2010

By L. M. Pidgeon, W. Curlock

FREE energies of formation of zinc sulfide and magnesium sulfide had previously been estimated to an accuracy of ± 5.0 kcal per g mol. In the present work, these values were determined experimentally. As the determinations of the free energies of formation of zinc sulfide and magnesium sulfide presented different problems, separate experimental procedures were employed for each. ZINC SULFIDE It is difficult to measure the free energy of formation of either zinc sulfide or magnesium sulfide by measuring their decomposition pressures directly, as they are very stable compounds. An attempt was made by Jellinek and zakowski3 to study the equilibrium. zns(s) + H2(g) = Zn(g) + H2S(g) [I] They passed hydrogen over zinc sulfide and analyzed the gases leaving the reaction zone for H2S. They were unable to determine the true partial pressures of the H2S by this method, as some of the H2S on being cooled from the reaction temperature, reacted with the zinc in the gas to produce ZnS. Consequently, they were unable to establish any true equilibrium data for reaction [I]. More recently,' the equilibria ZnS(sphaledte) + Fe (s) — FeS(s) + Zn(g) [2] and ZnS(sphalerite) + 2Cu(s) — Cu2S(S) + Zn (g) [3] were studied. As the standard free energy of formation of Cu2S is known to * 3.0 kcal, and of FeS to ± 1.0 kcal, it should be possible upon performing equilibrium studies on reactions [2] and [3] to deduce the standard free energy of formation of ZnS (sphalerite). However, as both of these equilibria involve 2 solid sulfides, and as it is possible for these sulfides to dissolve in one another, it is necessary first to ascertain the activities of the various sulfides in these solid phases.

Jan 1, 1959

By Yunyan Wang

Diagrams of pc-pH for the complex ions concentration and pH value and -g- for activity coefficient and ionic strength ln±MnSOI4had been drew based on the thermodynamic principle of coordination chemistry and combined with Pitzer theory at 298.15K. The diagram of -g- indicated that -gincreased sharply from 0.0000 up to 1.2147 when I changed from 0.00 ln±MnSOIln4±MnSO4to 0.09; The increase of -gbecame slowly when I was more than 1.00 and less than 1.69; kept still when I ln±MnSOln4-g±MnSO4was more than 2.25 and less than 4.00. Diagrams of pc-pH illustrated that the minimum solubility of Mn(OH)2(s) increased with the increase of I, the pc increased from 6.5 to 5.5 when I increased from 0.00 to 4.00; The pH of the minimum solubility of Mn(OH)2(s) increased with the increase of I, the pH increased from 11.80 to 12.76 when I increased from 0.00 to 2.89, the pH kept still when I (I was less than 4.0) increased. There is single function relationship between the minimum solubility of Mn(OH)2(s) and relevant pH in different I.

Jan 1, 2010

By Amy McBrayer, Andrea Brickey

Area mining is a surface mining method that allows for efficient mining and contemporaneous reclamation of tabular or bedded deposits, e.g., coal. Mine planning methods for area mines differ from those of open pit metal mines. Area mines in the Powder River Basin (PRB) use various processes for mine planning at both the strategic and tactical stages. With the ever changing commodity markets, it is becoming increasingly important for mine operators to be able to react quickly to the changing business environment. Tools that allow for the development and rapid comparison of production schedule scenarios are key to ensuring agile mine operations. A survey of mine engineers responsible for mine design and production scheduling at coal operations provides clarity on the current mine design and production scheduling processes in the PRB, as well as a discussion on potential solutions to upcoming challenges. In this article, we describe various mine planning processes used by the coal producers in the Powder River Basin. The survey identifies a clear gap in the ability to create comprehensive schedules associated with limited tools and lack of engineering labor needed to frequently conduct the mine design and scheduling process.

Jul 8, 2023

By Trevor R. Ellis

Minerals appraisers/valuers often find great difficulty 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. Here, common criticisms of the sales comparison approach by mineral 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 mineral 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. The examples are used as the basis for a discussion of ways to employ adjustments for operating economics and many other factors, while warning against 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