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By Y. M. Shneerson, V. M/ Shpaer, E. E. Zhmarin, A. Y. Lapin, E. M. Vigdorchik

This paper describes studies of zinc concentrate oxidizing pressure leaching using the method of mathematical modeling. The concept of a kinetic function was taken as a basis for mathematical modeling of the leaching process. The kinetic function describes dependence of the unreacted component share OJ on the relative time x (the relative time is the ratio of the test duration and the time of complete dissolution). This kinetic function is determined in accordance with the results of batch laboratory tests. The laboratory tests have been carried out on zinc concentrate produced from Kazakhstan zinc-copper ores. Zinc concentrate consisted mainly of three types of minerals: sphalerite (70%), pyrite (13%) and chalcopyrite (10%). Oxidation reactions of sphalerite, pyrite and chalcopyrite have been considered as principal ones. The kinetic characteristics of the process (kinetic function, reaction order, activation energy, duration of complete dissolution of the concentrate components) have been calculated in the course of laboratory tests. The mathematical model was used for estimation of the main technological leaching process parameters (such as process rate, degree of metals extraction, autoclave capacity, heat balance, etc.). Mathematical modeling based on the kinetic function concept allows safe designing of metallurgical equipment and scaling the technology to industrial capacity.

Jan 1, 2004

Induced microseismicity monitoring is: ?Essential tool in improving the geotechnical understanding about a mine and its inaccessible surrounding rock masses. It helps to determine: -Event timing, location, and magnitude - identification of highly stressed areas -Event source mechanism - the physics of fracturing in its seismic source region -Seismic strain-rate distribution in 5D - identification of stress concentration or migration patterns -Geomechanical interpretation - identification of hidden geological structures or weaknesses in the ground -Strategy for mining e.g. by a block caving method - maximization of mine production and to optimize ground support design -Potential of future seismic hazards -Large event re-entry protocol, to improve mine safety ?The norm as part of mine safety maintenance and long-term mine design practices

Aug 1, 2013

By Gabriel Voicu, Marc Bardoux, Ross Stevenson, Nuno Machado, Jean Lafrance

"Abstract - Paleoproterozoic gold is found in two different volcano-sedimentary sequences and intrusive bodies separated by 600 km within the Guiana Shield. The 2148 Ma St-Élie granite intruded volcanic-arc sequences of the Paramaca Group, whereas the 2096 Ma Omai stock penetrated backarc/ island-arc sequences of the Barama-Mazaruni Group. Positive ?Nd values suggest that both suites lack Archean crustal contaminants, which is consistent with an origin in an oceanic arc setting.The St-Élie deposit is characterized by quartz-dominant vein systems with minor metallic minerals, represented chiefly by pyrrhotite and pyrite. Biotite, calcite, and chlorite are the main gangue minerals. The alteration haloes at St-Élie feature a strong potassic zone, which is absent at Omai. The ore-controlling structures are ductile and the vein emplacement is related mainly to contemporaneous, high-angle ductile shear zones. The St-Élie deposit formed at temperatures >350°C. The stable isotopes values are compatible with a magmatic or metamorphic source.The Omai deposit is characterized by quartz-dominant vein systems with minor metallic minerals, represented mainly by pyrite. Ankerite, scheelite, albite, and chlorite are common gangue minerals. The vein emplacement is syn- to post-deformation and it is related mainly to brittle shear zones with low-angle, stockwork networks and breccia zones. The Omai deposit formed in a temperature range between 250°C and 170°C, much lower than the St-Élie deposit. The stable isotope values are compatible with mixing between deep-seated fluids of metamorphic or magmatic origin with surface- derived fluids.These differences between St-Élie and Omai are interpreted in terms of their depth of formation. Alteration patterns, structural elements, and paragenetic assemblages indicate that the gold at St-Élie was most probably emplaced at a mesozonal depth, whereas the Omai setting yields evidence for epizonal conditions."

Jan 1, 1999

By Doris Stüben, Geoffrey P. Glasby, Akira Usui, Jörg-Detlef Eckhardt, Bruce W. Mountain, Zsolt Berner

"Abstract - Twenty-seven marine Mn and Fe deposits chosen for their diverse origins have been analyzed for five platinum-group elements (PGE). The PGE display their highest concentrations in hydrogenous Mn crusts and nodules, lesser concentrations in diagenetic nodules and two to three orders of magnitude lower concentrations in hydrothermal Mn and Fe crusts. This difference of behavior reflects the well-known fractionation of Mn and Fe from the other transition elements, rare earth elements (REE) and PGE in hydrothermal Mn and Fe crusts. Pt, Ru, Rh, and Ir show a close geochemical coherence in these deposits and are differentiated from Pd which shows a negative anomaly with respect to the other PGE in hydrogenous and diagenetic Mn deposits. Pd is less depleted than the other PGE and the Pd anomaly much less pronounced in the hydrothermal Mn and Fe crusts relative to the hydrogenous and diagenetic Mn deposits.Stability field diagrams show no evidence for the oxidation of Pt to the tetravalent state in seawater as suggested by some authors. Rather, Pt appears to be present in seawater as Pt(OH)2 0. Adsorption of Pt(OH)2 0 onto the surface of Mn and Fe oxyhydroxide minerals may explain the enrichment of Pt in marine Mn deposits. However, Pt metal is the thermodynamically stable solid phase of Pt under seawater conditions and reduction of Pt(OH)2 0 to Pt metal, particularly in the vicinity of the oxygen minimum zone, is possible, although the high Ce/La ratios of the Co-rich Mn crusts do not support this hypothesis. Pt, Ru, Rh, and Ir display their maximum concentrations in the Corich Mn crusts. This may reflect, among other things, the low growth rates of these deposits. The stability field diagram of Pd shows that Pd is undersaturated in seawater and occurs in seawater dominantly as PdCl4 2- and anionic mixed-hydroxide-chloride complexes. This would explain the anomalous position of Pd among the PGE with respect to its uptake into marine Mn deposits. A study of inter-element associations indicates that the incorporation of the PGE from meteoritic dust plays only a minor role in the uptake of these elements into marine Mn deposits. The PGE remain the most poorly studied group of elements in marine Mn deposits. The data presented here emphasize the need for the establishment of a more comprehensive database of the PGE in marine Mn deposits in order to understand more fully their uptake into marine Mn deposits and their pathways through the oceans."

Jan 1, 1999

By D. C. McKechnie

To the examining engineer, the ever-recurring problem involving the valuation of ore in a prospect presents at different times highly divergent aspects- some entirely physical or mathematical, others essentially personal. The majority of the problems discussed in this paper are obvious to the engineer, and need little elaboration. By the prospector and the general public, however, a number of these questions are often and completely over-looked, or else approached in such a way as to produce final results which are, to say the least, misleading and at times decidedly erroneous. While the purpose of this paper is to deal with prospects or potential mines, many of the problems considered apply equally well to mines with developed ore reserves. As the usual showings on a prospect consist chiefly of a few open-cuts and a limited amount of underground development work, an estimation of the actual ore reserves is a question of minor import, and seldom enters appreciably into an estimation of the probable value of the particular property. The physical valuation of a prospect mainly involves the consideration of such subjects as the general geological features exposed, the strength and type of mineralization, the width and persistence of any associated veins, shear zones, fractures or contact zones, together with the possible grade, size, and continuity of any ore-bodies that may there occur.

Jan 1, 1930

By L. Jiang

This report investigated the dynamic recrystallization (DRX) phenomenon in magnesium alloy AZ31 billets to understand the deformation mechanisms and microstructure evolution during extrusion and other metal forming processes, Compression tests of coarse-grained as-cast magnesium alloy billets containing lamellar Mg17Al12 eutectic phase and (Al, Mn) particles suggest that temperatures higher than 300°C, strains greater than 0,25 and strain rates above 0,l/s lead to the formation of fine DRX grains in the deformed samples. Microstructural observations also indicate particle-stimulated DRX nucleation (PSN) during hot deformation of the AZ31 alloy, facilitated by the presence of Mg17Al12 and (Al, Mn) particles, While the Mg17Al12 is dissolved into the matrix at about 350°C, (Al, Mn) particles may remain effective for PSN at temperatures up to at least 400°C, This study suggests that alloy design with a proper distribution of second-phase particles can provide the desired microstructure for improved properties and formability in wrought magnesium alloys.

Jan 1, 2004

By P. C. Lightfoot, J. M. Duke, A. J. Naldrett

"The segregation of magmatic sulphides from mafic and ultramafic silicate magmas, in many circumstances, leaves the magma with a lower-than-normal Ni/MgO ratio, which is characteristic of both lavas erupted from the magma chamber and olivine crystallizing within it. Two end members of the segregation process are discussed; i) batch segregation and ii) fractional segregation.In the former, the critical factor is the magma/sulphide ratio. Computer modelling suggests that where this ratio has been less than 1000, the magma will be recognizable as anomalously low in Ni, due to sulphide segregation, and thus a good target for exploration. In fractional segregation, the critical factors are the proportion of sulphide to silicate being segregated and the degree of fractionation.Samples believed to represent the liquid portion of komatiitic lava f lows from a series of unmineralized sequences in the Abitibi greenstone belt, Canada. Belingwe belt, Zimbabwe, and Barberton Mountainland, South Africa coincide with the sulphide-free fractionation model. They are in marked contrast to samples from the ore-bearing districts of Kambalda and Scotia. Western Australia in which distinct Ni depletion, corresponding to fractionation of olivine plus sulphide in a ratio of between 100 and 200:1 is recognizable. Ni-depleted olivines also mark the sulphide-bearing Dumont intrusion of the Abitibi belt.The Moxie intrusion of northern Maine has distinctly Nidepleted olivines, as does the nearby and petrologically related Katahdin body. In both of these intrusions, the composition of the olivine allows reasonable predictions to be made of the Ni tenors of sulphide showings within them. At Katahdin, the Ni depletion is so widespread that little hope is help out for the presence of economic concentrations of sulphide. At Moxie. the olivine compositions suggest that the best chance of economic sulphides lies in the southern lobe of the intrusion.Ni-depleted olivines also characterize certain rock units within intrusions of the Insizwa complex, Transkei, Southern Africa. Many millions of tonnes of Ni have apparently been removed by sulphides from these rock units, many more than are contained within the single mineralized occurrence so far identified at Waterfall Gorge."

Jan 1, 1984

By D. G. Osborne

"The paper describes current 'tools' available to the coal preparation engineer for carrying out the evaluation of data, process design, selection of equipment and layout and design of coal preparation plants.Laboratory and pilot-scale equipment is widely available and test data can be used to provide valuable design information regarding capacities and sizing for specific applications. Pilot plants, unless they fit closely to the basic design envisaged for the eventual commercial plant, C(In often provide only limited useful information.Computing aids such as equipment simulation, plant modelling, etc. are becoming widely applied for establishing design criteria and investigating flowsheet options . Other computer tools such as computer-aided design systems are taking over some of the time-consuming tasks of detailed layout and design and estimation of quantities, etc. and providing the means for detailed examination of more than a single option.Besides computer modelling there is also physical modelling of plant buildings, plant sites and entire proposed mining areas; the former can be especially useful in finalizing design and threading' pipework and electrical reticulation systems through the plant without the resultant risk of impairment of flow, obstruction or wastefulness. Not the least of the benefits of plant models is the assistance provided for training new operating and maintenance staff."

Jan 1, 1985

Operating CIP/CIL gold recovery plants in the arid regions of Western Australia face unique challenges due to water and ore quality issues. The presence of cations of Mg, Fe and Cu metals in water supplies and leached sulphide ores can have considerable effect on plant consumption of lime and cyanide, due to pH buffering and complexation effects. Reagent costs are critical to many of these operations. In this paper, computational modelling is used to analyse a number of process options to mitigate such issues. This requires careful consideration of the chemistry of the process system, and the ability to predict accurately the response of speciation and precipitation reactions to changing process conditions. The Mg-Fe-Cu-CN-H20 system is specifically modelled in this application. The Gibbs Free Energy Minimisation thermodynamic framework has been selected to model equilibrium phenomena. Furthermore, this approach has been extended to the process flowsheet level, incorporating multiple unit operations and recycle streams in a steady-state mass balance model. The Gibbs equilibrium composition module of HSC Chemistry software has been successfully integrated into the commercial flowsheeting package SysCAD. Consideration of the Gibbs Energy Minimisation capabilities of other flowsheeting packages has also been given. This approach has been successful in simulating the aqueous process chemistry typical of such plants. It has resulted in a predictive capability where equilibrium states respond appropriately to process changes. Potential cost savings may be identified by examining alternative process conditions to minimise overall reagent consumption.This methodology may be extended to other hydrometallurgical plants where issues of solution ideality, temperature and other equilibrium processes are sufficiently understood.

Jan 1, 2005

By Rénard Chaigneau

Quality during induration Drying ??40% of energy ??Drying velocity = f(1/radius2) ??Size versus risk of condensation ??Flow is important (minimise fines)Oxidation ??IOC Fe2+ typically 0.04% ??Important to minimise Fe2+forLow Temperature Disintegration ??Tight size distribution is key13

May 1, 2011

By M. B. Kime

"Discrete-element method (DEM) modelling is a powerful tool for studying particulate systems within the mineral processing industry. DEM simulations were conducted to investigate the power draw, load behaviour, and impact energy profile of an experimental ball mill under different milling conditions. The variables considered were mill rotational speed (percent critical speed), ball size, and lifter face angle. The simulation results indicated that the grinding efficiency would be enhanced by using 80% critical speed, 30 mm ball diameter, and 45° lifter face angle. These findings can be useful in guiding actual ball milling tests involving an ore sample.RÉSUMÉ La modélisation par méthode des éléments distincts (MED) est un outil puissant qui permet d’étudier les systèmes particulaires au sein de l’industrie de traitement des minerais. Des simulations par MED ont été menées de façon à étudier le profil de la consommation énergétique, du comportement de la charge et de l’énergie de rupture d’un broyeur à boulets expérimental dans diverses conditions de broyage. Parmi les variables prises en compte figuraient la vitesse de rotation du broyeur (vitesse critique en pourcentage), la taille des boulets et l’angle de coupe de la cornière élévatrice. D’après les résultats de la simulation, on pourrait améliorer l’efficacité de broyage en utilisant une vitesse critique de 80 %, un diamètre de boulet de 30 mm et un angle de coupe de 45 ° de la cornière élévatrice. Ces résultats peuvent se révéler utiles pour les essais concrets de broyage à boulets impliquant un échantillon de minerai."

Jan 1, 2017

By R. P. Townsend

It is a widely accepted "fact" that a Koepe friction hoist is generally the best solution for production hoisting when compared to a double drum hoists. This would appear to be true if one looks at the initial capital cost of just the hoist, and also if one compares the size of the motors selected for the duty. But is this the whole story? What are the longer term costs involved in the hoist's operation, and what are the relative efficiency's of the two designs? Perhaps the Koepe hoist design enjoys a better reputation than it deserves.

Jan 1, 2011

By Donald F. MacDonald

METAL PRICES RISE WITHIN the past nine months, the mining industry of the world has been revivified by a spectacular price advance for the metals. ln fact, practically all geological raw materials have been marked up during this period. Reviving industry started the price rise, but the armaments race among the nations has intensified it. These factors, coupled with our decided building shortage, which must be made up, will probably maintain metal prices at decidedly favourable levels over the next two or three years, or longer. OUR MINERAL CIVILIZATION It is interesting to recall that in the past hundred years, while the white population of the world increased some three ta three and a half fold, the consumption of minerals increased seventy-five fold. In other words, ours is a mineral civilization. If we disregard short slumps, which we will occasionally experience, it seems certain that the bread upward trend in mineral consumption will be maintained for many decades into the future. Nations without reasonably abundant and diverse mineral deposits will eventually become nations without much power. Canada is blessed with a splendid store of minerals. Its mineral industry is now facing an exceptionally rosy future. What of the mineral industry of Nova Scotia? GEOLOGICAL RESEARCH ALLOWED TO LAG RN NOVA SCONA Many years ago, when geological science was in? its infancy, much geological study was carried on in Nova Scotia. In 1827, Francis Alger began work on the iron ores in the Bay of Fundy region. In 1886, E. R. Faribault began his series of remarkable papers on Nova Scotia geology. Between these dates, many others published papers on the geology of the Province. The most outstanding of this early group of geologists was Sir William Dawson, whose published works on Nova Scotian geology extended over the period from 1845 to 1891.

Jan 1, 1937

By A. D. Walters

"IntroductionScreens are used in coal preparation plants for four basic functions, namely:I. Scalping off large size run-of-mine coal for initial size reduction;2. Sizing of coal treatment in different process streams;3. Removal of magnetite (dense medium) from clean coal and refuse;4. Dewatering.Canadian coal preparation plants use screens extensively in the above functions. Even plants where no beneficiation takes place, screening and crushing are carried out in the size reduction process.Description of Process UnitsThe type of screen used in coal preparation plants generally falls into the following categories:Fixed Screens and Grizzlies (for large coal)Often a simple rugged construction, either set horizontally above a bin or inclined with the coal flow.Fixed Sieves (for fine coal)They are used for dewatering and/ or size separation of slurried coal or discard. The sieve bend, the Vor-Siv, the Wilmot riffle and the cross flow screen fall into this category. The most commonly used in coal preparation plants is the sieve bend, Figure 1. Coal slurry is fed tangentially onto a fixed curve wedge wire screen deck. The solids are separated at a predetermined particle size, delivering a partially dewatered overproduct and a dilute underflow. The coal slurry is initially delivered to the sieve bend via a feed box. A series of baffles spreads the feed evenly across the width of the deck. The slurry drops from the last baffle, passes through the feed spout and is fed tangentially to the screen. It is important that the feed should contact the surface immediately at the front end of the sieve bend. It is possible to lose as much as 250Jo of screening area with a poorly fitted screen box.The full stream of coal slurry flowing over the sieve bend decreases in depth, in increments of approximately •;4 the slot width each time it passes a slot. Sieve bends make a size separation at 112 to 2h the slot width. This feature virtually eliminates blinding of the screen surface. Slot sizes are normally quoted in millimetres, available standard slot sizes are from 2 mm to 0.125 mm. The sieve bend is also widely used in coal preparation for preliminary dewatering."

Jan 1, 1989

By A. Bascetin

The mining industry in Turkey has been developing in the last 10 years. Mine wastes and tailings have thus been increasing, depending on the rising production rates. There are many problems related to accidents that occur in tailings damps. In this study, the applicability of the surface paste disposal (SPD) method for a Pb-Zn mine in western Turkey was examined. Density was 3.084 and specific surface area was 0.899 m2/g. The mill tailings have very low plasticity and show characteristics of clays and silts in terms of the Unified Soil Classification System. The particle size distribution of the tailings was 39.2% particles finer than 20 µm. The results of this study showed that the physical and chemical properties of mill tailings make them suitable for SPD.

Aug 1, 2013

By James R. Hunter, Sandra K. Zacharias, Ursula M. Franklin

Archaeometallurgical remains can be a valuable source of information about past technological activities and, by inference, the societies that undertook them. Material traces of former metal-producing or metal-working centres can include raw materials, products, or metallurgical installations such as mines, furnaces or forges. Of these remains, the most common is slag, often left undisturbed since its original production. Physical and chemical analyses of archaeological slag and metal can often reveal the processes and materials involved in their formation. Mineral composition and softening temperature of a slag, for instance, can indicate the conditions of the metallurgical operation, such as temperature and atmosphere and, thus, help identify metallurgical processes which took place at a site(1). The present report illustrates the value of such analysis. Metal-working remains from Sainte-Marie among the Hurons, near Midland, Ontario, on the south side of Georgian Bay have been analyzed in order to determine the techniques and processes used by the 17th-century blacksmith who worked at the mission headquarters from 1642 to 1649. Samples were selected from a very large collection of blacksmith refuse which was excavated from the site by archaeologist Kenneth Kidd in 1941-42(2).

Jan 1, 1999

By J. Janeson

Wall control at the Pipe Open Pit is of primary importance in ensuring the long-term stability of the operation, while keeping costs to a minimum. Blasting techniques have been adapted to the variations in competence and structure of the wall rocks. A portion of the perimeter wall is being developed in incompetent peridotite . A recent change in pit slope design provides a wide safety berm on alternate benches. A support program which consists of pinning the crests of wide berms with vertical reinforced concrete dowels and horizontal bolting of walls shows evidence of increasing the stability of the pit walls. This paper describes the blasting and support techniques which are contributing to successful wall control in the Pipe operation.

Jan 1, 1979

By I. Demers

The abandoned Manitou mine site covers an area of approximately 190 ha near Val d?Or, Quebec. This old site has been generating acid mine drainage for several decades. In 2006, a partnership was established between the Quebec Ministry of Ressources Naturelles (MRN) and Agnico-Eagle Mines to reclaim the Manitou site using tailings from the nearby Goldex mine. These neutral tailings were to be deposited on top of the Manitou site. An extensive study was performed to evaluate specific reclamation scenarios to control acid mine drainage using Goldex tailings as cover material. The article first describes the global approach used for this evaluation, which includes in-situ hydrogeological monitoring, tailings characterization, laboratory column tests, and numerical modelling. Of the thirteen column tests, three were conducted to evaluate the parameters affecting the performance of covers made of Goldex tailings placed over the spillage area of the Manitou site. Geochemical and hydrogeological parameters were assessed during the leaching column tests for almost two years. The tests aimed at evaluating the effect of water table level and monolayer cover thickness on the overall performance. The testing procedure involved monthly leaching and measurement of geochemical parameters. Results indicate that water table position is the most important factor affecting the monolayer cover performance to control AMD. Based on these results, it was established that the water table must be located near the interface between the Goldex and Manitou tailings to effectively reduce AMD generation. Cover thickness also has an impact on cover performance, which is however less significant than the water table position. The testing scenario with a water table located at the interface with a one-meter Goldex tailings cover showed progressive improvement in effluent quality.

Aug 1, 2013

By V. G. Papangelakis, G. A. Moldoveanu

"One of the major commercially viable secondary sources of rare earths elements (REE) are the ion-adsorption ores, containing 0.05-0.3 wt% rare earth oxides physically adsorbed on the surface of clay minerals formed during weathering of lanthanide-rich rocks. Although ion-adsorption deposits are substantially lower grade than other types of rare earth sources, this is offset by the easier mining and processing costs and the low content of radioactive elements. The conventional extraction route involves ion exchange leaching with monovalent cation solutions (usually ammonium sulphate) under ambient conditions; during the process, the lanthanides are desorbed and transferred into solution, being replaced by the exchange cation. While ammonium ions are known to perform best, there is increased environmental motivation to investigate alternative lixiviants in order to minimize ammonium sulphate impact via reducing its use without considerable loss in rare earth recovery.The objective of the present research was to screen various cations salts (alkaline and alkalineearth metals present as sulphates, chlorides and acetates, respectively) in order to comparatively evaluate lanthanide desorption levels and provide a theoretical base of the observed behaviour. The overall aim is to gain a better understanding of how both cation and anion may affect the overall REE recovery from ores in order to provide alternative processing routes. The distinct exchange capabilities of cations were explained in terms of differences in cation hydration enthalpy within the same group, i.e. Cs+ > NH4 + > K+ > Na+ > Li+ and Ba2+ > Ca2+ > Mg2+. For the same cation, it was determined that REE extraction efficiency follows the order sulphate > acetate > chloride, based on dissimilarities in constants of formation values. Various process implications scenarios will be described based on using mixed cations and anion matrices."

Jan 1, 2016

"In the first half of 1990, Cambior earned $1104 million, or $0.37 per share, on revenues of$66.4 million. The company's strong cash position, attained late in 1989 and in the beginning of1990 through the exercise of warrants, put working capital at $83.8 million as of June 30, 1990. Long-term debt was reduced by over $10 million during the weak gold market, leaving the company with a debt to equity ratio of only 0.03. Production for the six first months of 1990 was 107 720 oz. Au, an increaseof24% over the corresponding period in 1989.Financial Profile/Results and Corporate Financial StrategiesTotal revenue for the 1989 fiscal year was $116,883,000 compared to $109,848,000 for 1988. The 1989 results achieved despite a lower average gold price, resulted from a higher level of commercial gold production and a 115% increase in investment income over 1988. Investment income rose to $3,568,000 in 1989 due to higher levels of cash assets.Cambior's mine operating costs increased 19% to $68,561,000 in 1989 from $57,472,000 in 1988. This increase resulted from rising operating costs at the Doyon Mine ($250/oz to $274/oz) due to the shift from open pit to underground operations, as well as from the start -up of three new mines with relatively higher costs. These costs have reached a stable level that should be maintained for the next few years.In 1989, net exploration expenses were $6,838,000, down 31070 from 1988, partially due to the Canadian tax reforms introduced since 1987. Depreciation and depletion grew by $1,432,000 in 1989, reflecting a higher volume of commercial production from the Pierre Beauchemin, Lucien C. Beliveau and Chimo mines.Net earnings for 1989 amounted to $17,661,000 or $0.73 per share compared to $17,438,000 or $0.74 per share in 1988.Cambior has an exceptionally liquid and strong balance sheet. As at December 31, 1989, net working capital stood at $85.6 million, with a total assets base of $338.6 million. With a long-term debt (including gold loans) of $21.5 million and shareholders' equity of $277.2 million, Cambior has a debt to equity ratio of 8%. All but about $100,000 of long-term debt is in the form of gold loans.The total market value for Cambior's stock as at September 10, 1990, stands at $420million, based on recent stock market prices. Cambior's stock and warrants are traded on the Montreal and Toronto Stock Exchange."

Jan 1, 1990