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By Karl Marquis

La Mine Mouska exploite depuis deux ans certains blocs de réserve à l?aide de la méthode long trou. Même si, à priori, la méthode long trou semble rentable, le contrôle de la dilution ainsi que le respect d?un échéancier serré s?avèrent primordiaux afin que cette méthode d?exploitation puisse être justifiable économiquement. La présentation suivante fera la comparaison économique entre cette méthode et celle de chambre-magasin.

Oct 1, 2001

By Roorda H. J, R. R. Saddington, Curlook W

THE copper-nickel sulfide ore deposits of the International Nickel Company of Canada, Limited contain the minerals pyrrhotite, pentlandite, and chalcopyrite. In the extraction of the nickel, copper, and iron, much of the processing involves oxidation of the metals as well as sulfur. Roasting plays a predominant role at several stages in the operations which prepare the constituent metals for refining. Copper, nickel and iron concentrates of various grades, ranging from low-grade nickeliferous pyrrhotite to high-grade nickel sulfide, must be partially or completely oxidized. Figure 1 shows the main points at which roasting is conducted at INCO. Roasting experience at INCO dates back to the time when lump ore was partially roasted in heaps. It has progressed through single hearth roasters, sinter machines, multiple-hearth roasters, flash roasters, and more recently has centered on the development and utilization of fluid bed roasters. The primitive, slow, and inefficient method of heap

Jan 1, 1961

By P. Z. Caverhill

In this section of the province only the most meagre of surveys have been made and because these are not sufficient to determine with any degree of accuracy even the total forest area, the information presented in this paper is not complete. Area: -The area south of the Canadian National, and served by the Pacific Great Eastern, is roughly 38,000. square miles, 30,000 of which is classed as productive. This is approximately equal to the productive area of Norway, or half of Finland-or of 30 per cent of Sweden. It is larger than that of either Nova Scotia or New Brunswick. Eliminating from the productive area 3600 square miles of grass-land and areas capable of agricultural development, 26,000 square miles (16,600,000 acres) remains as absolute forest-land, as compared with the 55,000,000 acres of Sweden, the 37,500,000 acres of Finland, the 17,000,000 acres of Norway, and the 7,600,000 acres of Austria.

Jan 1, 1925

By E O. Foster

When roasting started at Giant Yellowknife Mines in 1949, it became apparent that, to prevent air and water pollution in the surrounding district, it would be necessary to collect the arsenic that was contained in the exit gases of the roaster. The arsenic collection problem was finally solved by the installation of both electrostatic and baghouse collectors. It was realized that a considerable quantity of gold-bearing dust was leaving the roaster with the exit gases. When the collection problem was solved, it was possible to measure this loss. The loss proved to be considerable and it became evident that a substantial quantity of gold could be recovered. Research programs on dust treatment began in 1958, and by May, 1960, the treatment process which is currently being followed was started in the plant. At present, the two electrostatic preci11itators, Operated at temperatures above 600°F, collect the gold-bearing dust.

Jan 1, 1963

By A. Trusiak

"Increasing energy costs in mineral processing is making it necessary for tighter controls over various parts of the concentrating process. Continuous monitoring and control of critical process streams can be easily performed by today's many computer systems. Indeed, the list of successful applications of computers to grinding and flotation control continues to grow. The day is rapidly approaching when the use of computers within concentrators for either process control or simply metallurgical accounting will no longer be a luxury, but a necessity. The benefits from such applications far out weight the initial investment.This paper describes the current application of a process control system at Brunswick Mining in north-eastern New Brunswick. Emphasis is placed on the control of a CuPb flotation circuit, and the benefits derived-from this control.No. 12 Cu-Pb Flotation: The complex nature of the Brunswick flotation process has been described else-where. 1,2,3 Four final concentrates are eventually produced, these being a Zn concentrate assaying 53% Zn, a 30% Pb concentrate, a 20% Cu concentrate, and a bulk Pb Zn concentrate assaying 35% Zn and 17% Pb. The Cu concentate, Pb concentrate, and bulk Pb Zn concentrate are all derived from a primary CuPb concentrate assaying 26% Pb, 11% Zn and 1.8% Cu.The No. 12 CuPb circuit produces approximately two thirds of the total primary CuPb concentrate. No. 12 ore, assaying 3.5% Pb, 9% Zn, 0.25% Cu and 100 g/tne silver, is ground in two parallel grinding circuits. Each line uses a 3.2 x 4.2 meter rod mill in closed circuit with two parallel 3.2 x 3.9 meter ball mills. Ball mill and rod mill discharges are classified in two stages of cycloning. The secondary cyclone overflow, or flotation feed, is controlled at 65% passing 37 microns."

Jan 1, 1981

By Adrian Dance

The Antamina orebody is a geologically complex, polymetallic skarn located in the Peruvian Andes. A range of copper and copper-zinc ores are campaigned separately through the concentrator producing copper and zinc concentrates as well as lead and molybdenum by-products. Ore type classification at Antamina is based on chemical assays; geological or lithological variations are not considered. Consequently, each ore type demonstrates a wide range of concentrator performance. Antamina is currently implementing a system to track ore movements from the shovel face to the concentrator. Relatively sophisticated models of the ROM and coarse ore stockpiles ahead of the mill will be used to account for the variable delay between mining and milling. One of the numerous benefits of ore tracking is the ability to directly associate the measured concentrator performance with a physical location in the orebody. Using existing mine planning software, three-dimensional models can be created of such performance measures as metal recovery, concentrate quality, operating cost and reagent consumption. Such a database of information allows the true value of different ore sources to be determined. The value of an ore source is conventionally measured as metal content (individual or combined ?equivalent?) with a cut-off grade applied to indicate some base level operating cost. However, the true value of an ore source should include dynamic factors like haulage cost, reagent use, smelter penalties and even prevailing metal prices. If an ore source is considered from all perspectives rather than simply its potential to deliver value, the concept of ?ore? becomes more flexible. Any ore source that reveals itself to be unprofitable can be eliminated from the mine plan or possibly blended with others to improve its value. The ability to predict mill performance ? and thereby profitability ? is a powerful tool. In an operation such as Antamina, where managing ore sources, campaigns and the delivery of a variety of concentrates in a narrow timeline to customers is a daily challenge, prediction is the key to success and improved efficiency.

May 1, 2003

By A. F. Brock

Introduction During the past ten years, shaft sinking has been going on continuously at Inco and new shafts and shaft extensions have been sunk under a broad diversity of conditions. The Murray mine and the Stobie section of the Frood-Stobie mine have?been opened and a main hoisting and supply shaft has been sunk at each of these mines; No. 2 shaft at Murray was sunk initially from surface to 1,960 feet and is now being extended; No. 7 shaft at Stobie was sunk from surface to 3,105 feet. No. 2 shaft at Garson has been extended from 2,200 feet to 3,200 feet in depth. At Levack, No. 2 shaft is being extended from 1,860 feet to 2,850 feet for ore hoisting from the 2,650 lev el. At Creighton, No. 6 shaft, collared on 52 level, was sunk 1,740 feet to a total depth of 5,563 feet below surface. It is the deepest Inco working. At Creighton, also, No. 7 shaft is being sunk from surface to the 30 level to handle the ore from caving operations. Ail Inco main hoisting and supply shafts sunk during the past twenty years have been vertical rectangular shafts equipped with two cages and two ore skips. The cages are standard and interchangeable for all shafts except Garson No. 2; they are single-deck, 13 ft. 4 in. by 5 ft. 2 in. inside and are designed to carry a maximum material load of 16,000 lb. The man load is 48 men. Skip capacities at the several shafts vary from 8 to 15 tons. Forty-two hundred feet bas been established as the standard vertical lift, and the permanent hoisting equipment at each shaft is designed for eventual hoisting from that depth.

Jan 1, 1950

By L. V. Kin, V. V. Lodeischikov, A. V. Byvaltsev, IRGIREDMET JSC, O. D. Khmelnitskaya, S. V. Petrov

"Irgiredmet Institute carried out the study on the development of gold recovery technology from refractory ore from a Russian deposit. The ore contained 1.1 g/t Au, 1.5% of pyrite and 2.4% of pyrrhotite. The recovery of gold achieved was 84.7% using gravity with generation of high grade recoverable gold concentrate and gravity middling. In the course of lime treatment, cyanidation of the middling followed by tailings detoxification the consumption of reagents was 13.0 kg/t CaO, 95 kg/t NaCN and 72 kg/t Ca(OCl)2 of the concentrate. This was capital intensive.In order to decrease the consumption of reagents, magnetic separation of the middling of the concentrates from gravity separation was added to this flow sheet. Pyrrotite recovered to magnetic fraction, which did not contain gold in accordance to this advanced flow sheet. The mass yield of pyrite goldbearing non-magnetic fraction decreased down to 1.5 times in relative to gravity middling. The slurry filtration prior to and after cyanidation allowed the organization of cyanide solution recycling.The results of pilot plant tests using the developed flow sheet showed that the content of pyrrhotite in the non-magnetic fraction decreased from 59.1% to 11.3%. The reagents consumption was 12 kg/t CaO, 3 kg/t NaCN and 16 kg/t Ca(OCl)2 of the pyrite concentrate. The total gold recovery using this flow sheet was 83.4%. Due to a decreased consumption of reagents, cost efficiency of the process was achieved. Based on the results of this research, a project design criteria was developed. A processing plant with the annual throughput of 2.6 million tonnes of ore is being designed."

Jan 1, 2016

By E. C. W. Perryman

Materials research and development has played an important role in the commercial success of the CANDU- PHW nuclear reactor and in the production of heavy water. Both capital investment and energy conservation demand very high component reliability in such systems. The interactions among reliability, plant performance and economics will be discussed in relation to materials research and development. Likely materials requirements for the nuclear industry over the next twenty five years will also be discussed.

Jan 1, 1977

By M. A. Kessick

Current treatment and disposal procedures are compared for clay slimes resulting from the extraction of Alberta oil sands, the extraction of Florida phosphate matrix, the recovery of diamonds from kimberlite deposits in South Africa, the recovery of kaolin from clay deposits in southwest England and the upgrading of bauxite ore. Published research in the area is reviewed, and common trends which are emerging in the disposal of clay slimes are discussed.

Jan 1, 1978

By Pingchao Ke, Zhihong Liu

Fe(III)-As(V) precipitates were synthesized from the Fe(II)-As(V)-SO42--H2O system at 90°C in initial Fe(II)/As(V) molar ratios of 4.0 and 5.0, respectively. The synthesis were carried out by introducing oxygen gas into the system to oxidize Fe(II) ions into Fe (III) ions, and at the same time, adding aqueous sodium carbonate solution into the system to neutralize the acid released by the hydrolysis reactions, with the purpose of keeping the pH constant at 1.5±0.05. The precipitates obtained were characterized by XRD, chemical composition analysis, SEM, XPS, and Raman spectrum. The results indicated that the particles in the precipitates were in the morphology of irregular aggregation with their sizes in the range of about 1–4 µm. The precipitates consisted of scorodite, ferric arsenate and amorphous hydrated ferric oxide, of which amorphous hydrated ferric oxide formulated as Fe(OH)x(SO42-)y. The characteristic XPS peaks of Fe-AsO43- and Fe-O in the precipitates located at 711.8 and 713.3 eV, separately, and the existence of amorphous hydrated ferric oxide led to two series of shake off lines developed over the end of high binding energy of Fe2p XPS. The precipitates were stable in TCLP tests at pH 4.93 for 60 hours with the arsenic concentrations in the leaching solutions being 0.27 mg/L and 0.59 mg/L for the precipitates prepared in the initial Fe(II)/As(V) molar ratios of 4.0 and 5.0, respectively. The tests for the long-term stability of the precipitates were carried out by leaching them for 40 days at 25°C under various media in the pH range from 9.50 to 10.57, and the results showed that the precipitates synthesized in this study were much more stable than those by previous researchers.

Jan 1, 2017

By Claude Bazin

"The On-Stream Analyzer has proven and is still proving to be an extremely valuable tool for the control of flotation circuits. This paper examines the possibility of going further in the utilization of the provided assays using a real-time material balance program to calculate the distribution of solids within the streams of a circuit. Mass balance results can be used for process control, process analysis and detection of sensors malfunction. Examples from 3 Canadian and one American concentrators are presented to illustrate the potential of the method.IntroductionThe On-Stream Analyzer (OSA) has gained, over the last two decades, the status of key instrument for the control of flotation plants. The OSA is currently used in almost every sulphide flotation plant and its application in oxide mineral flotation plants is increasing. On-Stream Analyzers provide X-rays pulse counts that are converted into assays using multilinear regression programs. The estimated assays are passed to the flotation operators, via an operator console, or to control loops of various degrees of complexity (McKee, 1991) implemented in a Distributed Control System (DCS). Operators and/or controllers take control actions based on these assays to ensure an adequate operation of the plant. Although this application pays off very rapidly for the purchase of the OSA, one should ask: Could we get more from the OSA?Some plants reported the use of OSA measurements to process optimization (McKee, 1991). The optimization strategy is based upon economic indices calculated from metal recovery using the 2 product formulae (Wills, 1992, page 124). The 2 product formulae is however sensitive to measurement errors in the assays and can lead to considerable scatter in the calculated indices (Hodouin et al., 1993). Least squares algorithms provide an interesting alternative to filter out measurement errors (Spring, 1992). This paper presents a recursive least squares algorithm that estimates in a real time fashion the mass flow rates in a flotation plant using OSA and mass flow measurements. The algorithm is robust and its recursive structure is not demanding in terms of computation time and memory. The method was tested with data from four concentrators. Results of the material balance algorithm prove to be useful to detect sensors malfunction and may potentially be used for the control and optimization of flotation plants.The paper is divided into two sections. The first section gives a description of the proposed method. The mathematics of the method are kept to a minimum, since the detail is presented elsewhere (Bazin and Franklin, 1994). The second section shows the application of the method to different flotation plants."

Jan 1, 1995

By G. R. Rawsthorne

"The Con-Rycon mine is located on the north shore of Great Slave Lake in the Northwest Territories within the present city limits of Yellow-knife. Development work on the Con property started in 1936, resulting in a mine-mill complex which produced its first gold brick on September 5, 1938. Since that date 5,000,000 tons of ore have been mined yielding 3,000,000 ounces of gold. At present there are 220 employees at the mine.MineThe mine has 1.22 miles of vertical shaft, 41 miles of level development and 10 miles of inclined raises. There has been 1,000,000 feet of diamond drilling in search of ore. The temperature at the 4900 level (4400 feet below sea level) is 68 deg. F.The present mining method is cut and fill. The majority of the ore mined today passed through an internal winze before reaching the main shaft. The long haulage and double handling will be eliminated with the completion of a new shaft presently under construction to the 5800 level.MineralizationThe ore treated today is from the Campbell shear 1vhich is characterized by lenses and veinlets of coarse textured quartz containing some carbonate, sulphides and finely disseminated as well as visible gold. At the lower levels of the mine the arsenopyrite content in the ore is de-creasing with a~ increase in the levels of chalcopyrite and pyrrhotite."

Jan 1, 1974

By B. M. Monaghan

"The developments of the 1950s and 1960s have seen Canada become an international source of iron ore, trading in all geographical areas and hemispheres. Canada's production will significantly increase in the next decade. However, although the outlook is bright, iron ore producers cannot be complacent. Instead, we must weigh the factors that have brought about the development of the Canadian iron ore industry and examine the probable changes for the next decade that will affect its growth.Looking ahead in the 1970s, competition will be severe. Pressure on prices will continue as new sources of supply bid for long-term contracts and as steel producers continue to develop mines around the world. Rising costs will make these pressures more severe. We must balance the growth of the world's steel makers with the emergence of new supplies of iron ore. The iron ore industry is now part of a new era in which demand and supply are intermeshed, and the developments around the world are acting on the Canadian iron ore industry's future."

Jan 1, 1971

By Raju S. Sagi

This paper deals primarily with the different types of drilling methods used by the Iron. Ore Company of Canada for sampling the soft and friable hematite-limonite (secondary) iron ore deposits found in the Scheferville area. The problems associated with drilling, sampling, sample handling and sample preparation. for chemical analysis of these ores are discussed. Systematic evaluation of the various drilling methods led to the selection of an integrated drilling system. This system consists of a rotary dual- tube - reverse-circulation drill, with tricone bit, polymer mud and mechanical sample splitter, The historic al development of this drilling system is described in detail, as are the equipment , sample flow and quality control checks carried out to obtain representative samples. This integrated drilling and sampling system has been used satisfactorily on a routine basis for determining the grade and tonnage of ore for the various deposits for the last five years (1972-76) in the Schefferville area.

Jan 1, 1977

By John N. Ludden, Maurice Rive, Hillar Pintson

"Quelques soixante-dix-sept plutons présents dans la Sous-Province de Pontiac et dans la partie centrale de la Sous-Province de I’Abitibi ont fait I ’objet d’une reconnaissance systématique. Ils ont été regroupes en huit suites plutoniques majeures et trois suites mineures à partir de critères géologiques et petro logiques. Parmi les suites majeures, quatre représentent I' activité intrusive la plus ancienne dans la région. L’une d' entre e/les est représentée par deux complexes anorthosito-gabbroi' ques lites et les trois autres comprennent les orthogneiss dioritiques a leucotonalitiques et les intrusions dons la composition varie de diurétique et granodioritique à leucotonalitique. Leur mise en place peut être pretectonique a syn ou tarditectonique; certains plutons sont synvolcaniques. Quelques data/ions U! Pb effectuées à propos de ces roches donnent des âges s' étalant entre 2 718 et 2 694 MA. Les données géochimiques indiquent la présence des deux lignées magmatiques, tholemique et calcoalcaline bien qu’il n'y ait aucune évidence de relations entre elles dans I' espace et dans le temps. Ces suites magmatiques différentes peuvent provenir soit d’une croute tholemique impliquée dans un processus de subduction soit directement du manteau.Les trois autres suites majeures comprenant des monzodiorites, des granodiorites et des monzonites ainsi que les deux suites mineures comprenant des syenites correspondent à un évènement intrusif plus jeunesse déroulant entre2 694 et2 680 MA. Ces roches sont syn, tarti a post tectoniques et sont enrichies en alcalins, Ba, Sr et terres rares legeres par rapport aux quatre suites précédentes. Leurs caractères chimiques prop res suggèrent qu' e/les proviennent d' une source différente par rapport à celle precedemment citee.La derniere suite plutonique majeure correspond a un monzogranite leucocrate, riche en pegmatite, également syn a tard tectonique, dont I' age n' est pas connu avec précision. ll représente le seul granite ""vrai"" de la région et dérive d’une anatexie soit des meta sédiments soit des granodiorites-tonalites plus anciennes. La troisième suite plutonique mineure correspond a quatre stocks de granodiorite porphyrique qui n’ont pas été étudiés en détail.ABSTRACTSevenly-sevenplutons have been identified in the east-centra/part of the Abitibi Subprovince and adjacent Pontiac Subprovince. These have been subdivided, on the basis of geological and petrological criteria, into eight major and three minor plutonic suite. Four of the major suite, which represent the oldest intrusive activity in the area, range in composition from dioritic-leucotonalitic orthogneisses to diorite-granodiorite/leucotonalite and include two layered anorthosite- gabbro complexes. Their time of emplacement ranges from pretectonic to syn-late-tectonic and some plutons are synvolcanic. U-Pb zircon ages for these rocks range from 2 718 to 2 694 Ma. Geochemical data indicate the presence of both calc-alkaline and tholeiitic magma series for these rocks although there is no evidence time and space relationships between the two. The different magma series also suggest the derivation of these rocks from two sources, either from subduced tholeiitic crust or directly from the mantle. Three major monzodiorite-granodiorite, monzonite, and two minor syenite suites comprise a younger inlrusive event ranging from 2 694 to 2 680 Ma in age. These rocks are syn-, late- to post-tectonica and, compared to the above four plutonic suites, are enriched in alkalis, Ba, Sr and light Rare Earth Elements.Their distinctive geochemistry suggests that these rocks were derived from a different source region than for the older plutonic suites. The remaining major plutonic suite consists of leucocratic, pegmatite-rich, monzogranite-granodiorite. These rocks are also syn- to late-tectonic but their ages are not known with precision. They are the only ""true"" granites in the area and were derived by the partial melting of either older"

Jan 1, 1990

By J. Lovering, M. Allan

"INTRODUCTIONThe Afton Mines property is located 180 air miles east-northeast of Vancouver and nine miles west of Kamloops, a city of 60,000 people in south central British Columbia. The deposit is located adjacent to the Trans-Canada Highway at an elevation of 2,231 feet above sea level.Interest in the property dates back to 1898, when a 330 foot shaft was sunk on the Pothook claim immediately south of the existing operations. Since that time many companies and individuals have investigated the possibilities of the area but it was not until 1972 that Afton Mines Ltd. located a significant zone of copper mineralization. The feasibility study was completed in the period 1974-1975, by Teck Corporation Ltd., who control Afton through 50% direct ownership and 65% ownership of Isa Mines, who own a further 23%. Construction began in March, 1976. Ore production started in August, 1977, and the first ore was fed to the mill on December 8. This was the third mine to be brought into operation by Teck since 1975, the others being Newfoundland Zinc and Niobec.The orebody is a porphyry copper deposit which has undergone supergene alteration. It is 1,700 feet long in a west-northwest by east-southeast direction, 300 feet wide and dips at 55° to the south. The mineralization in the supergene zone, which accounts for two-thirds of the known deposit, is rather unusual in that the copper is present primarily as native copper and chalcocite. The grade is one percent with the distribution: 70% native, 25% chalcocite, and 5% chalcopyrite with bornite, covellite, and cuprite."

Jan 1, 1979

By A. G. Roach

Introduction This paper deals with the operations and plant of the Craigmont Corundum Project, formerly of Wartime Metals Corporation but now under the Mines Section of the Resources Development Branch of the Department of Reconstruction and Supply. Corundum is recovered by the re-treatment of an old tailing deposit at Craigmont, Ontario. Crude concentrates so produced are shipped to the plant of the American Abrasives Company, Inc., at Westfield, Mass., for final processing and distribution to the abrasive industry. The plant was recently described in a paper entitled Craigmont Corundum which was presented by the writer before the Chicago meeting of the A.I .M.E. in February, 1946. General The Project is located on? lots 4 and 5, concession XVIII, township of Raglan, Renfrew county, Ontario, near the village of Combermere, which is on Highway 62. The property is about 135 miles from Ottawa. The general area enjoys a pleasant climate with moderate summer temperatures, though the winters are rather severe, the mercury frequently falling to - 35 deg. F. The excellent boating, fishing, and hunting have made the district a favourite resort for tourists. Lumbering is the main industry. Some farming is carried on, but the soil is poor and much of the land is hilly and rocky. There are no other operating mines in the immediate vicinity, though several 'industrial minerals', including mica, feldspar, nepheline, beryl, socialite, and others have been produced in the area. The district is drained by the York and Madawaska rivers and is generously dotted with large and small lakes. The general elevation is about 1,000 feet above sea level, though numerous hills rising several hundred feet give a rolling appearance to the landscape.

Jan 1, 1946

By W A. James

The use of spectrographic semi-quantitative analysis has recently been of considerable value in establishing the geological relationships in a complicated orebody. The principal minerals found in the Mount Pleasant orebody are cassiterite, stannite, sphalerite, molybdenite, wolframite, chalcopyrite and galena, associated with arsenopyrite, pyrite and fluorite. In addition to the large number of minerals, a further com-plication is the non-uniform distribution of the economic minerals, with one mineral being the only one present in major amounts in one area and another mineral being predominant in another area. At the same time, all minerals are present to a minor extent throughout the deposit. This heterogeneity made it advisable to analyse all exploration samples thoroughly. Analysis by conventional means would have resulted in prohibitive costs. By the use of emission spectroscopy, however, it was possible to obtain, quickly and relatively inexpensively, a reasonably comprehensive picture of the orebody un-der investigation.

Jan 1, 1963

By Karl J. C. Harries

"5.1. INTRODUCTIONThis chapter is intended as a general overview of the subject of royalties between private parties – royalties extracted by governments are not dealt with. This same subject is covered in detail in Volume II, which critiques many sample provisions taken from agreements, giving both pros and cons. If you find something that interests you in this chapter, check Volume II for extra information. Detailed cross-referencing to Volume II has not been attempted, however, most subjects mentioned in this Chapter will also appear in Volume II, usually in greater detail. Reference should be made to the Index.A Brief History of Royalties1In the early days of mining in Canada, the tendency was to sell a claim for cash and to move on, using the stake to look for and stake more prospects. As prospectors became more sophisticated and Canada’s North opened up, the market for properties and the number of mining properties available increased dramatically. Speculation and the practice of consolidating several small properties into one large holding entity became common. In “hot” areas, the speculators2 could far outnumber the prospectors, many of the former having little or no prospecting expertise but lots of market and promotional savvy. However, to consolidate a number of small parcels into one large project can be expensive, and many of the parcel owners became interested in keeping a share in the project, rather than giving up everything. Speculators who were trying to consolidate small parcels wanted to minimize cash payments to parcel holders (usually they did not have much cash and preferred it flowing in their direction rather than away from them). Accordingly, non-cash transactions were developed to meet the aspirations of both owners and speculators."

Jan 1, 2003