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By B. C. Lewis

When John F. Kennedy made this statement, I am sure he was not thinking about the valuation of limestone reserves. However, it is certainly applicable. The objective of this paper is to demonstrate how the discomfort of thought (i.e., the analytical and methodical process performed by a reputable professional) builds the foundation for an opinion that provides assurance as to the value of a property. In its final form, a valuation is nothing more than an opinion. The credence of that opinion is directly proportional to the knowledge of the appraiser and the efforts and judgment extended in developing said opinion. Presented herein are the methodologies for formulating a defensible opinion. Before detailing the valuation process, an overview of the limestone industry is presented along with some historical parameters relating to the industry. Secondly, the most widely used valuation methodologies and a brief discussion of each are presented. Two case studies are then presented, which review actual valuation studies. The paper concludes with how the valuation process should be published in a report format that is defensible from a legal standpoint, bankable from a financial standpoint, and decipherable from a layman's standpoint.

Jan 1, 1989

The Iron Ore Company of Canada (IOC) is the largest manufacturer of iron ore pellets in Canada and its customer base covers North American, European and Asian steel producers. The company operates a mine, concentrator and a pelletizing plant in Labrador City, Newfoundland and Labrador, as well as port facilities located in Sept-Iles, Quebec. It also operates a 418-km (260-mile) railroad that links the mine to the port. IOC has approximately 1,900 employees. Its shareholders are Mitsubishi Corp. (26.18 percent), Labrador Iron Ore Royalty Income Fund (15.1 percent) and the international mining group Rio Tinto, which is its major shareholder (58.72 percent) and operator, with activities in more than 40 countries throughout the world. The IOC was incorporated in 1949 and by 1954 it had completed the Quebec North Shore and Labrador (QNS&L) rail line. IOC began mining in Schefferville, Quebec by 1954 and closed those operations down in 1982. In 1962, IOC commissioned the present day Carol Project consisting of mining, concentration and pelletizing facilities in Labrador City, Newfoundland. In 2004, IOC shipped its one-billionth tonne of ore on the QNS&L Railway. In 2005, IOC celebrated 50 years of mining history. The company expressed an interest in reducing the amount of oversize material (>1 m x 1 m x 1 m or 3.2 ft x 3.2 ft x 3.2 ft) being produced and its subsequent downstream effects, including in-pit sorting and reduction, damage to mobile equipment and significant delays in the loading pockets and the primary crushers. To achieve this goal, an oversize reduction project was undertaken by the mine that, to date, has significantly improved upon baseline measures. One key approach used to reduce the amount of oversize was the implementation of thicker emulsion. The introduction of a thicker emulsion provided more resistance to the forces created by dynamic water and reduced the infiltration of the emulsion into the cracks and fissures of the rockmass, resulting in reduced amounts of oversize and more consistent fragmentation throughout the muckpiles. Additionally, a significant reduction in nitrates leached into the mine water discharge has been realized. To determine the effectiveness of the oversize reduction project, IOC used a first-of-kind technology to assess fragmentation presented to the shovel at the digging face. A digital vision system (DVS) was installed on one of the shovels to capture images that were stamped with GPS locations. A large population of digital images were analyzed to produce a robust fragmentation distribution baseline that was used as one of the mine key performance indicators (KPI). Changes to blasting practice were subsequently measured against the baseline KPI to assess effectiveness.

Jan 1, 2011

By J. Bowders

A case study describing the expansion of Marion County landfill is presented. The exapansion area is located on a deep mined area. Finite element analyses were used to predict the surface subsidence and associated tensile strains on the landfill liner of the expansion site. A synthetically reinforced liner system is recommended to minimize the impact of the subsurface movements on the integrity of the liner system.

Jan 1, 1986

By Young C. Kim

In the past, underground coal mine planning has traditionally focused on the mine design n aspects concerning safety and efficiency in the quest to produce low cost coal. Very little attention has been given to coal quality control aspects of mine planning at most of the underground coal mines within the U.S. With the enactment of the clean air act of 1970, the generally high sulfur content of coal has become a major concern for the coal-fired power plants in the east. Similarly, the ash and the BTU contents of coal are of equal importance from boiler efficiency standpoint. Thus, the time has come when the coal mine planning must incorporate the coal quality control aspects as well as the traditional safety and efficiency aspects.

Jan 1, 1983

By Robin Adams

After nearly five years of economic hardship, the world copper industry is, in our opinion, about to enter a period of considerable strength. This opinion is based on three main propositions, namely: 1) there are a number of reasons, both general-economic and industry-specific why copper demand is likely to perform significantly, more strongly in the 1980's than in the 1970's; 2) the virtual cessation of investment in new facilities, especially at the mine level, over the past years makes it physically impossible for capacity to expand as fast as demand in the mid-1980's; and 3) there is much less "excess" inventory available than most analysts believe. If we are correct in these assumptions, then the implication is that copper prices will climb up to, and possibly beyond, the cost-justified price level. Combined with general inflation, this suggests a price in excess of $2/pound by 1985 or roughly treble the 1978 average.

Jan 1, 1979

By Qing-Wang Hao

In this paper, the authors attempt to develop engineering based approaches for estimating safety factors against pillar and floor failures and predicting likelihood of subsidence events over abandoned coal mines in Illinois. There are two critical problems involved in the analysis: determination of geotechnical properties, and consideration of time effect. The authors attempt to solve the problems by generating hypotheses, which are used to modify existing engineering models for estimating pillar and floor safety factors. The modified models are validated using data from two well established databases of subsidence events over active and abandoned mines in Illinois. The data analysis suggests that most of the trough type subsidence events in Illinois were caused by floor failures rather than pillar failures. The subsidence incubation period seems to be directly related to initial floor safety factors at the time of mining. This correlation can be used to predict the likelihood of subsidence and to assess subsidence risks within both spatial and temporal contexts where detailed mine maps are available.

Jan 1, 1986

By Huayang Luo, Hui Li, Wei Zhou, Gang Chen, Scott Huang

Abundant beach and offshore resources of gold deposits are demonstrated along the coast of Alaska, and Nome is one of the richest places. Considerable amounts of mineral resources data were collected and stored in geodatabase of ArcGIS. In searching for the best model for the interpretation of the Nome offshore gold placer deposit and accurate estimation of the reserve, the data were processed and visualized using ArcGIS. The gold concentration data collected from the Nome offshore deposit are of characteristics such that: (1) near lognormal distribution of data, (2) high positive skewed distribution, (3) a small number of extreme values dominating the reserve estimation, and (4) apparent anisotropy of the variogram. These characteristics make the development of an interpolation model for the gold deposit a challenging task. In this study, it is determined that five geostatistical methods provided by ArcGIS with visualization capability, i.e., Inverse Distance Weighted (IDW), Ordinary Kriging (OK), Ordinary Kriging with lognormal transformation (OK-log), Simple Kriging (SK) and Indicator Kriging (IK) are suitable candidates for the development of an interpolation model. The five algorithms are evaluated and compared with each other in the study. Cross-validation technique is employed to examine the accuracy of the five approaches. It is determined that the OK and SK algorithms are not suitable for this dataset because of the difficulty of fitting the semivariogram model despite their lower RMSE (Root-mean-square error) and the higher RMSS (Root-mean-square Standardized). The OK-log algorithm does not provide satisfactory prediction either, because it places too much weight on the role of extreme values resulting in overestimation and extremely high RMSE. Reserve estimation of each blocks is conducted using each of the interpolation methods and compared with the reserve calculated using the conventional polygon method. The IWD and IK algorithm seem to provide estimations more agreeable with the conventional polygon method.

Jan 1, 2005

By Kurt Wiener

A major process control system is in some ways like a complex organism. The extremities, (that is, field instruments) are exposed to many hazards and suffer malfunctions of relatively minor and repetitive nature. Here I equate a stuck valve or dead transmitter with a skin abrasion or cut. The maintenance and repair of the extremities can be done by technicians with basic but thorough knowledge of relatively few problems and their solutions. Here I equate with administering Band-Aids and aspirin. On the other extreme, when the master control device (such as a computer) fails, one does not attempt home remedies. A "brain" specialist is called in. It is, however, crucial that the patient be able to clearly describe his symptoms. Getting down to the case at hand, a complex system consisting of field instruments, instrument racks, interface equipment, and perhaps a computer, may require maintenance at all levels. At the field equipment end where physical damage, corrosive atmospheres, reconfiguration, and routine calibration checks are common, the customer has the opportunity to develop a competent staff of maintenance people. The relatively high maintenance activity assures competence through repetition.

Jan 1, 1980

By Holger Witthaus

Various seam conditions had been examined during longwall production at RAG German hard coal mines. Based on the field data a prediction method was developed considering separation planes as influencing factors for roof falls at the face. The characteristics, orientation, and density of separation are important factors on the occurrence of roof falls. In addition to geological influences, the performance parameters and geometry of support must be considered and optimized for the prediction and prevention of roof falls in a longwall face. Based on detailed macro- and microscopic investigations of e coal seams considering various ranks of carbonization, the origin and characteristics of separation planes are determined and a strata-specific influence on roof fall is interpreted. It was assessed that the coal face fracturing and displacement caused by the stress depend on the floor and roof strata conditions due to activation of the existing separation planes. Field studies are shown giving an idea of influences by advance rates of the longwall face, support delay and hydraulic pressure to the roof control in longwall faces in depth of more than 3000 ft. The analysis includes the application of specific software developed for longwall roof fall prediction as a result of a European research project. The software allows a laminar graphic display of roof fall probability, which is used for recognition of risk areas and risk management.

Jan 1, 2009

By W. L. Dare

Land use planning is not a new concept in the United States but the emphasis has changed drastically since the early 1960's. Under the old interpretation we tried to expand our frontiers and develop our land, but as society has become more affluent and mobile the demand has grown to preserve those parts remaining undeveloped. There is something of a paradox inherent in this change of emphasis. While affluence has motivated our support to preserve the quality of the natural environment, industrial development is needed to support the affluence. Because we cannot accomplish all of each, sound planning and compromise will be necessary since it is unlikely that, the American people will want to surrender much of their life-style or their awakening environmental concern. Any industrial society, whether a goal reached or an aim yet ahead, is built largely on the use of mineral raw materials and energy, the physical base of nearly all activities and products. The standard of living which is important to us all is growing more dependent upon these minerals, metals, and energy fuels. Although reduction in consumption of raw materials may be acceptable to those at a certain economic level of a society, those who have not reached that level cannot be expected to accept a lowering of their present or anticipated standard of living.

Jan 1, 1974

By E. A. Rychkun

With the aid of modern computer automation, certain mathematical techniques are easily adapted to geophysical, geochemical and geological data analysis. First and second derivative filtering (or transformation) of raw data, in many cases, gives a better indication of anomalous conditions than conventional methods of analysis. The calculations involved, which are tedious manually, are simple, accurate and fast with the assistance of Fourier analysis and modern computers.

Jan 1, 1968

By Robert L. Cheek, Sid McIlveen

Sodium sulfate is an important industrial chemical. As recently as ten years ago it was produced and consumed in the United States in quantities exceeding 1 Mtpy. Since then, both its production and use have declined; however, approximately half the production still comes from natural sources. [Fig. 1] illustrates the history of production of natural sodium sulfate in the United States. Production of natural sodium sulfate from various types of deposits is the main source of this chemical in Canada and Mexico, and probably in Argentina, Chile, Iran, Spain, and the Russian Republics. MINERALOGY AND PHYSICAL PROPERTIES Sodium sulfate is widespread in occurrence and is a common constituent of many mineral waters, as well as seawater. Atmospheric precipitation contains sulfate; it is one of the major dissolved constituents of rain and snow (Davis and Dewiest, 1966). Many of the saline lakes throughout the world contain varying amounts of sodium sulfate. Because sodium is usually the dominant cation, some workers make an anionic distinction, referring to lakes containing predominantly sulfate as bitter lakes and those containing predominantly carbonate as alkali or soda lakes (Bateman, 1950). Sodium sulfate in its natural form is found in two principal minerals, mirabilite and thenardite. Mirabilite, the hydrous form, is commonly called Glauber's salt. It was discovered by the German chemist, J.R. Glauber (1603-1668), who derived its name from the Latin, sal mirabile, meaning wonderful salt. Thenardite, the anhydrous variety, was named for the French chemist, Louis Jacques Thenard (1777-1857) of the University of Paris (Mitchell, 1979). The largest quantities occur in the form of mirabilite. Sodium sulfate is found in varying degrees of purity, from theoretically pure efflorescent crystals of mirabilite to combinations and admixtures of other salts and impurities. It is a common constituent of some brines; from this source much is extracted commercially. Sodium sulfate also is found in compounds, such as the minerals glauberite, the double salt of anhydrous sodium and calcium sulfate, bloedite, the hydrous double-salt of sodium sulfate and magnesium sulfate, and burkeite, the anhydrous double-salt of sodium carbonate and sodium sulfate. Over 40 minerals contain sodium sulfate in varying proportions; many are of special interest because of their frequent occurrence. Table 1 lists some sodium-sulfate bearing minerals. The reader is referred to other publications (Cole, 1926, Dana, 1932, Grabau, 1920, and Dietrich, 1969) for descriptions of these minerals. Only mirabilite and thenardite will be described herein. Mirabilite Na$04.10H20, contains 55.9% water of crystallization. It is noted for its efflorescence or spontaneous loss of water. On dehydration it changes to the anhydrous form, Na2S0,. Mirabilite is an opaque to colorless, water-soluble mineral that tastes first cool, then slightly bitter. It has a specific gravity of 1.48. It frequently forms as efflorescent, needlelike monoclinic crystals, but generally is found in the massive form. Thenardite, the anhydrous mineral, Na2S04, contains 43.68% Na20 and 56.32% SO3. It ranges from colorless to white and may be tinted shades of gray or brown. It is a water soluble mineral with a slightly salty taste. Its specific gravity (2.67) and hardness (2.5 to 3) exceed those of mirabilite. It commonly occurs in the massive form without visible crystals. Its crystals are frequently tabular pyramids of the orthorhombic system. Sodium sulfate also occurs as a heptahydrate, containing seven molecules of water, but this is unstable and has not been found in the natural environment. The solubility of sodium sulfate has an important effect on the crystallization of the salt in nature, as well as in its production. Its solubility in water generally increases as a nonlinear function of temperature. Below 1.2°C, ice and mirabilite form. As the temperature is increased above O°C, increasing amounts of sodium sulfate become soluble. At 32.4°C, a transition point on the solubility curve is reached, as the decahydrate melts in its own water of crystallization and the anhydrous form crystallizes. With in- creasing temperatures, solubility decreases somewhat. The presence of other dissolved salts changes the transition temperature and solubility characteristics of sodium sulfate.

Jan 1, 1994

By Michael Bayerl

The HILTI OneStep rockbolt was implemented for roadway development in German deep coal mines in 2004. The development by HILTI Company is based on a technical joint venture with RAG Deutsche Steinkohle AG. The technical development of a One-Step bolting system was required for weak strata conditions at the roadway development face. Standard resin bolting has reached the limit of performance when boreholes are squeezed and cannot be filled with capsules. In some cases the heading face is brittle and requires additional support for installation of the bolts and a person working immediately next to the borehole. The Hilti One-Step system allows automated and safe processing at the heading front and provides the key technique to avoid these problems.

Jan 1, 2009

By Stanley C. Suboleski

The increase in productivity which has been achieved in mining during the past two decades has been attained largely through the replacement of manpower with electrical power. Power demands should continue to increase, requiring electrical distribution systems to be well planned to avoid inadequate voltage levels caused by underdesign and excessive costs resulting from overdesign. To aid the mining electrical engineer in designing proposed power systems or analyzing changes to existing systems, a digital computer program has been developed. This program will analyze alternating or direct-current networks with up to 10 voltage sources, 75 loads and 300 total segments. A maximum of nine levels of voltage is permitted in the system. This project was part of a package of programs developed at Virginia Polytechnic Institute (WI) for the mining industry under sponsorship of the Office of Coal Research. Included in this package are also programs to: 1. Schedule mine production and predict cost of mining 2. Simulate rail haulage systems 3. Simulate belt haulage systems 4. Analyze ventilation networks 5. Analyze pumping networks These programs are available from the Department of Mining Engineering, VPI, Blacksburg, Virginia 24061 for a nominal processing cost.

Jan 1, 1970

By J. Richard Kyle

Salt domes, their cap rocks, and the adjacent sedimentary strata represent a major economic resource in the Gulf of Mexico basin. Gulf Coast salt diapirs formed in response to sediment loading of the "mother" Louann evaporite sequence of middle Jurassic age, an effect that is caused by the buoyant nature of the lower density salt. Halokinesis progresses from nonpenetrative deformation that creates broad "pillow" structures into discrete high-amplitude diapirs. Because of its buoyancy, the top of the salt diapir remains near the land surface or the seafloor during much of its history as the basin floor subsides. The salt within the Gulf Coast diapirs is deformed complexly and commonly shows subvertical banding that represents modified sedimentary layers with different contents of nonhalite components. The most abundant impurity is anhydrite, which occurs as individual millimeter-scale crystals or as deformed clasts that generally form about 5% of most salt stocks. Many mature salt diapirs are mantled by a "cap rock" that consists of a lower anhydrite zone and an upper calcite zone, commonly separated by a discontinuous gypsum-bearing zone. The anhydrite zone forms as accreted layers of anhydrite grains and clasts that are left after episodes of halite dissolution. The calcite zone is a product related to petroleum destruction accompanying bacterial reduction of aqueous sulfate. Calcite-cemented siliciclastic strata occur above or alongside diapirs. The mineral resources of the salt-dome setting are remarkably diverse. Major economic products of the salt-dome environment are salt and cap-rock-hosted native-sulfur deposits, as well as petroleum resources that occur on the dome flanks and in the cap rock. Native sulfur forms as a result of bacterial sulfate reduction accompanying petroleum destruction to form hydrogen sulfide, which is subsequently oxidized to elemental sulfur, major amounts of which have been produced by the Frasch process from Gulf Coast salt-dome cap rocks. Some cap rocks have produced limestone, gypsum, and anhydrite for a variety of construction uses. Although traditional industrial-mineral resource production from Gulf Coast salt domes is shrinking, some cap rocks host potentially commercial concentrations of celestite and barite, as well as the metals Zn, Pb, and Ag. Furthermore, caverns, excavated within the salt stocks, serve as major storage facilities for crude oil (including the Strategic Petroleum Reserve), liquefied petroleum gas, and natural gas. These resources are products of fundamental geologic processes that are integral to the evolution of the Gulf of Mexico basin. Whereas production of some industrial-mineral resources, such as elemental sulfur, has declined in recent years, ample reserves of salt will allow production to continue into the foreseeable future. Further, there is potential for other mineral-resource production from cap rocks under favorable economic circumstances. Expanded use of caverns, excavated in the salt masses for material storage and disposal, is likely to continue into the next century.

Jan 1, 1999

By W. Zitz

Incorporation of heat exchangers into drilled shaft foundations is a novel approach to both improve the energy efficiency of building heat pump systems and provide necessary structural support using the same construction materials. In an effort to quantify the structural and heat exchange performance of deep foundations used as ground-source heat pumps, two instrumented test foundations were constructed as part of a new construction project in Denver, CO. They will be integrated into the conventional ground-source heat pump system for the building. This paper focuses on the lessons learned from the construction process for these energy foundations.

Jan 1, 2011

By Carrie Smith

This fall, the Society for Mining, Metallurgy & Exploration (SME) will begin a new chapter by welcoming its new executive director and chief executive officer (CEO). Melissa Russell, a successful nonprofit executive with more than 30 years of experience in global association management, officially stepped into the role on Sept. 29, 2025. She succeeds longtime CEO Dave Kanagy, CAE, who is retiring in March 2026 after more than two decades of transformative leadership. “I am honored to begin this new chapter with SME and inspired by the vital role this community plays in shaping our world,” said Russell. “I look forward to listening, learning and working alongside this remarkable group of professionals to advance innovation, champion sustainability and create a brilliant future together.” Russell brings a deep portfolio of leadership experience in technical and industrial associations to SME. Most recently, she served as executive director of the Institute of Electrical and Electronics Engineers (IEEE) Computer Society, the largest of the IEEE’s 39 societies, with more than 50,000 members across 150 countries. During her tenure, she strengthened global engagement, advanced financial sustainability and launched strategic humanitarian initiatives.

Oct 1, 2025

By A. P. Wickland

The characteristic problems related to drilling a hole for evaluation of an orebody are generally quite similar, whether we're drilling a core hole, or a hole to obtain chip samples. The basic objective in each case is fundamentally an economic factor; to produce the maximum amount of usable information per hole at a reasonable footage price. The success of the drilled hole depends largely upon the amount of investigation and research spent on the prospective area and the ability to forecast the capable personnel needed plus the right kind of drills, ancillary equipment such as bits, muds and various additives necessary to make the drilling program successful. The driller is confronted with a wide variation of drilling problems due to the nature of subsurface conditions. Some of these problems are: overburden, which may consist of clays; sand; boulders; or glacial till. These surface conditions may exist up to 2,000 feet in depth and upon reaching bedrock, formations may consist of swelling shales, broken sandstones, and every conceivable rock-type, coupled with every known structural problem such as dips, faults, folds, etc., and to this added extras such as permafrost and/or ground water problems combine to increase the necessity why an understanding of the problems along with the proper reaction of the driller plus the formula to compensate for ground conditions is necessary to complete a drill hole. Since most geologists are familiar with diamond core drilling techniques, I would like to discuss other methods used in evaluating ore deposits.

Jan 1, 1973

By L. W. Scott, T. H. Dubaniewicz, F. T. Duda, P. G. Kovalchik

Recent research conducted by NIOSH's Pittsburgh Re¬search Laboratory showed that electrical current levels permitted under present regulations may not limit cable temperatures to less than 90°C in reeled trailing cables. Reeled cables, which are tightly wrapped with many turns and which carry current in an enclosed space, can become overheated due to poor heat transfer. This overheating can cause the cable insulation to soften, making them prone to damage. The damaged insulation reduces the life of the cable and can lead to shock, electrocution and mine fires. This paper describes a method of measuring the conductor tem¬perature of mine trailing cables during normal operation. The temperature is measured using a 50/125-, µm graded index multimode optical fiber located in the center of the metallic conductors. Distributed temperature measurements are made using an optical time domain reflectometer (OTDR). This system is capable of measuring temperatures with an accuracy of ± I °C over a length of 4 km at I -mintervals. With this unique way of measuring temperature, tests can be conducted that simulate actual mine conditions. The tests provide important data that allows MSHA's Approval and Certification Center to develop approval criteria for cycli-

Jan 1, 2000

By L. Adler

A systematic, balanced and inclusive formulation of the vast input data for mine design is presented. Since the quality of this statement severely influences subsquent design it is extremely important to senior mining engineers and the profession-at-large. If unfocussed, chaos can result along with serious ommisions. The basic categories, each a traditional one are: 1) Natural Conditions (geology and geography), 2) Company Capabilities (monetary and managerial), 3) Public Domain (regulations, contracts, good will, etc.) and 4) State of Art (mining engineering professionalism). To further reduce the data additional organizing principles were used: the distinctions of mining (vs. civil) engineering, proceeding from the general to particular, the basic engineering dimensions, and separating dependent from independent variables. The results are a unique and unified corpus, which anticipates the mine design procedure.

Jan 1, 1987