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Over the last five years the :forward momentum in the Australian resources sector has been dominated by gold production and exploration companies. While reporting of exploration results to shareholders and Stock Exchanges has generally been detailed and responsible, the standards of reporting ore reserves still leaves much to be desired in terms of contemporary investor expectations. Australian gold ore reserve reporting practices are critically examined and suggestions are made as to how gold mining companies can enhance stock market recognition by investors through more informative and useful Reporting.

Jan 1, 1987

At present, increasing focus of public perception is placed on the environmental and social benefits, risks and impacts of metals and metal-bearing products. To address these issues, the concept of product stewardship has recently been introduced into the political debate. In this paper, results from a survey of existing environmental and social reporting practice in the copper mining, smelting, refining and fabricating industry are presented. In this context, particular emphasis is placed on the reporting practice regarding products and product performance over the life cycle. In a few companies there has recently been a shift towards adopting product stewardship principles and putting them into action. As part of an ongoing exercise within the Non-Ferrous Consultative Forum on Sustainable Development sponsored by the International Copper Study Group (ICSG) key issues of interest to the non-ferrous metals sector are being addressed. The Forum, for example, has developed a series of principles, criteria and indicators that could form the basis for a voluntary, industry-lead product stewardship scheme. Current achievements and way forward of this product stewardship initiative will be presented.

Jan 1, 2003

By Greg Gosson

"Early efforts to develop formal reporting systems to quantify and classify mineral deposits date back over 100 years. (e.g. Hoover 1909: “Proved, Probable, Prospective Ore”). This was at first driven by mine operators’ need for reliable estimates of what their mines could produce. Disruption of transportation routes by world wars prompted western governments to recognize the need for assessments of strategic sources of metals and minerals that could support domestic industry during times of crisis. Categories were created to quantify mineral potential which were additional to those of mine reserves. Terms such as hypothetical and undiscovered resources entered the lexicon. Capital markets serving the mining industry were traumatized during the latter part of the 20th century by undisciplined and fraudulent disclosure by exploration companies of mineral deposit potential. Government securities regulators pressed for the development of credible reporting codes (e.g. SEC Industry Guide 7: 1981; JORC 1989; SAMREC 1994, CIM 2000). Representative organizations from the major western mining countries generally agreed that there should only be three categories of mineral resources (measured, indicated, and inferred) and two categories of mineral reserves (proven and probable). This was formalized in 1997 with the “Denver Accord”. Acceptance of the standard terminology may have been the easy part, because the challenge for the 21st century is to get general industry acceptance and agreement of the principles behind the definitions of each category. There has been noticeable movement towards this objective in the last few years. This is reflected in part in the updated reporting codes by JORC 2004, CIM 2005; SAMREC 2007; SME 2007; and PERC 2008, and the development of the CRIRSCO International Reporting Template 2007."

Jan 1, 2003

The United StatesÆ reporting standard for the mining industry for securities purposes is contained in the Security and Exchange CommissionÆs Industry Guide 7. It defines proven and probable Reserves using its own definitions, and prohibits the disclosure of quantitative estimates, for all mineralisation other than those two Reserve categories (though disclosure of Measured and Indicated Resources as quantitative mineralised material estimates is now informally allowed). Similarly, it restricts disclosure of value estimates to Reserves only, which SEC policy generally requires to be on an historic cost accounting basis. The SEC does not maintain a formal Competent or Qualified Person policy. In March 1999, the US-based Society of Mining, Metallurgy and Exploration (SME) released an update of its 1991 guidelines for definitions to be used in reporting of Mineral Resources, Reserves and Exploration Information, closely abiding by the 1997 CMMI recommendations. However, without SEC recognition, reporting under the SME and CMMI definitions is effectively barred for US companies. The SEC intends to adopt the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB). This will occur within just a few years, when the convergence project for development of the IFRS has reached a satisfactory point. The US is the largest financial supporter and participator in IASB. The Extractive Industries Standard of the IFRS will likely terminate Industry Guide 7. However, the effect of this international replacement will likely be equally restrictive. This could possibly neutralise the benefit of a CMMI-based global reporting standard. SME, the US society encompassing the widest range of mining industry professionals, does not have a Code of Ethics. It has no mechanism for requiring members to abide by a professional standard. SME is presently looking into possible solutions for this deficiency. US-based professional societies that do have a binding Code of Ethics, generally cater to a single profession, and are not just mining industry related. The American Institute of Professional Geologists (AIPG) and the American Institute of Minerals Appraisers (AIMA) are examples. The SME is considering creating a subsidiary body with an enforceable Code of Ethics. To support a CMMI-based global reporting standard, competent persons will need to work across international borders. A standardised mechanism for qualifying and registering competent persons will be needed. National rules and laws must allow competent persons to easily enter countries to perform their work. State issued licenses are increasingly required for much of the work performed in the US mining industry by engineers, geologists and minerals appraisers (valuers). Such licenses are not required by the SEC for Reserve reporting in the US, may not be required for valuation of mineral properties under certain circumstances, and except for real property valuer licenses, they generally do not have a binding code of conduct. However, state licensing of professionals forms a substantial and increasing barrier to interstate trade in professional services, and can be a prohibitive barrier to professionals from outside the US. Any rationalisation of this confusing patchwork of regulations confronting US minerals industry practitioners will only occur as part of larger, national change, hopefully aimed at compliance with international standards and protocols. The US does not have a valuation standard aimed specifically at the mining industry. The Uniform Standards of Professional Appraisal Practice, the national valuation standards, often must be applied to mineral property valuation, but contains no specific instructions for minerals. The author has campaigned against development of minerals valuation standards proposed by US minerals institutes. Instead he encourages the mining industry worldwide to place its support behind the initiative of the International Valuation Standards Committee (IVSC) to include an extractive industries section in its International Valuation Standards (IVS). This should provide a global set of valuation standards for the mining and petroleum industry within two years. This addition to IVS will provide essential valuation standards reference support for the extractive industries financial reporting standard of the International Accounting Standards Board. The IVS has achieved a high level of acceptance in the developed and lesser developed countries of the world. It provides a comprehensive framework of Generally Accepted Valuation Principles for the valuation profession internationally, for valuation of all property or asset types. IVSC is effectively a sister organisation to IASB. The IASBÆs International Financial Reporting Standards (IFRS), previously known as the International Accounting Standards (IAS), reference and quote IVS in some instructions for determination of fair value. IVSC is a non-governmental organisation (NGO) member of the United Nations and maintains liaison with many important international economic, accounting and financial agencies, such as the OECD, IMF and WTO.

Jan 1, 2002

THE SECRETARY The year 1917 has been a notable one in Institute affairs. The usual activities, including meetings, publications, local section interests, library service, and so-forth, have been continued on at least the same scale as previously, and in addition the resources of the Institute have been placed without stint at the service of the Nation, not only for the active prosecution of the military side of the war, but even more especially in the industrial operations which form the very basis of modern warfare. The officers and directors of the Institute have labored both officially and individually, while the Institute as a body, through committees of, prominent members, and through many individual members, has given freely. Finally, Institute funds have been appropriated to an amount exceeding $5000 to accomplish the cooperation with Government bureaus, and provide committee expenses necessary for performing the services that have been given. The President of the Institute had a very large personal share in many of these activities, which will be described in the following pages, as well as in the President's own report. Many of the Institute's members are giving their whole time for. $1 a year, or less, and especial mention should be made of Herbert C. Hoover, Food Administrator, W. L. Honnold, Head of the Commission for Relief in Belgium, Mark L. Requa, Petroleum Administrator, Edgar Rickard and Charles W. Merrill of the Food Administration, S. A. Taylor of the Fuel Administration, W. L. Saunders, B. B. Thayer and Joseph W. Richards who .are giving a. large share of their time to the Naval Consulting Board, W. Y. Westervelt, W.0. Hotchkiss and Harvey S. Mud of the War Minerals Committee, David W. Brunton of the War Committee of Technical Societies, and hundreds of others whose names are mentioned in the Honor Roll of Members. It has also been a notable year in cooperation with sister-societies. The most important event under this head was the accession of the American Society of Civil Engineers into the fraternity of Founder Societies.

Jan 2, 1918

By AIME AIME

PRACTICALLY all the Section delegates as well as a sprinkling of Institute officers and mere members were on hand for the annual business meeting of the Institute on Monday afternoon of the Annual Meeting. President McAuliffe presided, with C. H. Mathewson as associate chairman. Americo Albala was first called on to discuss the work of the Pan American Institute of Mining Engineering and Geology. C. Will Wright said that the need for such an organization was evident, and a resolution was passed asking the incoming President to appoint a committee to investigate cooperation with that body, of which Mr. Albala is executive secretary.

Jan 1, 1943

During the year this Committee has had the benefit of the services of 75 Committee members, resident in the various States of the Union and in foreign countries, 10 of them representing us abroad. A number of plans for awakening the interest of possible new members have been carried out and the results have been very gratifying. The comparative results for 1913 and 1914 are as shown in the following table: 1913 1914 Applied for membership 630 946 Elected 450 1,006 Accepted election 433 921 When it is remembered that the depression following the outbreak of war in Europe has had more serious effect on the mining industry than almost any other, these results cannot be regarded as anything other than very encouraging. Because of the unsatisfactory conditions still prevailing it will doubtless be difficult to make even as good a showing next year. It is considered, however, that the function of this Committee is not merely to secure new members, having no regard for other than numbers; its true function is to exercise a proper supervision over the growth of the Institute, building it up in those fields in which it is weak, and directing its growth in such a way as to make it most effective in fulfilling its proper function as the national organization representative of the mining profession. The plan of inviting the alumni of the leading mining schools to apply for membership, which was initiated last year, was completed this year, with the exception of one or two schools, notably the University of California, from which we have not been able to obtain a list of alumni. With these exceptions we have now extended to the graduates of all the important mining schools of this country, and several of those abroad, an invitation to apply for membership in the Institute. It. is not thought desirable to repeat this invitation too frequently, and it is therefore suggested that this field be left alone for a year or two, when, if the mining industry experiences a marked revival of interest, it will be well to send out a second letter to the same men.

Jan 4, 1915

Rossiter Worthington Raymond, Ph.D., LL. D-1840 to 1918.-Dr. Rossiter W. Raymond, Past President, Honorary Member and Secretary Emeritus, died suddenly of heart failure at his home, 123 Henry'St., Brooklyn, N. Y., on the evening of Tuesday, Dec. 31, 1918. He was one of the founders of the Institute and its second President. A Memorial 'Service will be held on Monday afternoon, Feb. 17. James Douglas.- The Institute suffered a second very severe loss by the death of Dr. James Douglas, Honorary Member, Past President (having served as President for two years), and in three separate respects the greatest benefactor of the Institute: first, in raising funds by volun¬tary subscription and his own personal gifts to pay the Institute's share of the money owed on the land on which the Engineering Societies Build¬ing now stands; second, as original donor to Engineering Societies Library; and third, by his bequest of $100,000 for the maintenance of the library of the American Institute of Mining Engineers. A resolution regarding the death of Dr. Douglas was passed by the Board of Directors and at the meeting of the Institute on Sept. 4, 1918, in Colorado, at which time a memorial service was held in the thea¬ter of the Hotel Broadmoor, attended by about 400 members and guests. A copy of the resolution was prepared and sent to the family. A bronze tablet is now being prepared and will be placed in the Members' Room and unveiled at the February meeting. A biography and portrait of Dr. Douglas was published in the September, 1918, Bulletin. There is also placed in the Engineering Societies Library an oil portrait of Dr. Douglas which had his own approval and was presented by him. American Institute of Metals.--During the Spring of the year, plans were completed with the American Institute of Metals whereby this society became the Institute of Metals Division of the American Insti¬tute of Mining Engineers. This body was a dignified aggregation of metallurgists which had been in existence for about 11 years. A bronze tablet commemorating the American Institute of Metals is now being placed in the Members' Room of the Institute, and during the year 1919 the Bulletin will bear the following title: "Bulletin of the American Institute of Mining Engineers, with which is consolidated the American Institute of Metals." Visits to Local Sections.-During the year President Jennings made visits to six of the Local Sections, on three of which occasions he was accompanied by the First Vice-president and the Secretary. First Vice-president Goodale made five visitations and the Secretary made eight.

Jan 1, 1923

By AIME AIME

T HE Board of Directors of the A. I. M. E. held a meeting at Institute headquarters on Jan. 28, 1921. There were present 10 directors and 14 guests, the secretary and the assistant secretary. The following actions of the Executive and Finance Committees were approved: Wilkes-Barre Meeting, Sept. 12 to 17, 1921; authorization of Oregon Section; authorization of Upper Peninsula Section; appointment of Philip W. Henry and Thomas H. Leggett on special committee on Code of Ethics; and presentation of five copies of Raymond Memorial Volume to T. A. Rickard, who edited it. The By-Laws of the Ohio Section were approved. The resolutions in reference to the payment of certain contributions and assessments to the Library Board of the United Engineering Societies, adopted by the Board of Directors on June 27, 1919, were rescinded, and the resolution adopted that the income of the James Douglas Trust of $100,000 be paid over to the Library or otherwise applied by it for the purpose of maintaining the Scientific Library of this Institute in such manner as may be deemed advisable in furtherance of the purposes of such trust, and that said income shall be paid on account of and included in. the assessment levied by the United Engineering Societies on the Institute for the maintenance of the joint libraries of the Founder Societies.

Jan 1, 1921

By AIME AIME

QUALITY and size do not ordinarily go hand in hand, but there is good evidence that both these attributes reached a new peak at the Annual Meeting of the Institute in New York just concluded. Certainly, the total attendance of 2500 was far above any yet attained, as might be expected with the recent rapid growth of Institute member- ship. General comment indicates that the quality of the papers also was notable, though not measurable by so definite a yardstick as attendance. During the meeting 49 technical sessions were held, at which more than 250 formal papers were presented. In addition, there were some thirty special meetings of committees, Divisions, and other Institute groups. In reporting the Annual Meeting eleven years ago the statement was made that "unless the Engineering Societies should build for themselves a new building it is probable that no meeting can be larger," and "the fifth floor, where a buffet lunch is served each day, has reached its full capacity and it seems quite evident that any future development of Institute meetings must be along the lines of quality, not size." Unfortunately the angel to succeed Andrew Carnegie, who financed the building of the present home of the Institute 35 years ago, has not yet ' appeared. Even if some one would merely build another elevator or two in the present building it would help. Fortunately, the modern auditorium of the American Radiator & Standard

Jan 1, 1940

Sponsored by the Utah Section of AIME, the 1960 Annual Rocky Mountain Minerals Conference brought more than 500 members of the mineral industry to the conference rooms of the Newhouse Hotel in Salt Lake City during the period October 5 to October 7. Under the overall supervision of J. M. Ehrhorn, general chairman, and H. E. Wright, assistant general chairman, the Conference offered 14 papers of technical interest in four sessions during the first two days, and it culminated in the Exploration Symposium held on the morning of October 7. The opening session of the Conference, meeting on the morning of October 5, heard R. P. Work, utility engineer of the Mountain Fuel Supply Co., discuss the growth and economic factors related to the use of natural gas in Utah. In his paper entitled Natural Gas Market In Utah, Mr. Work emphasized the very good prospects of natural gas serving almost all parts of that state. He mentioned that recently the El Paso pipeline, built to serve the Pacific Northwest with gas from Texas, has permitted natural gas to be available to Eastern Utah, and a tentatively planned pipeline from Green River, Wyo. to Southern California will bring natural gas to the central and southeast areas of the state.

Jan 11, 1960

By Robert H. Merrill

During the period from 1960 through 1966, the U.S. Bureau of Mines and Kennecott Copper Corp. performed an experiment to determine the changes in stress, strain, and displacement created by changes in slope angles. The experiment was performed at Kennecott's Kimbley pit near Ely, Nev. The supporting laboratory studies were made in the Bureau's Denver Mining Research Center, where final reduction of the data and summary reports are now in progress. The experiment was divided into two phases. The first consisted of the laboratory and field investigations required to select a new slope angle and configuration; the second phase consisted of a full-scale instrumented study in the west wall of the pit. The west slope was changed from an average of 45º to a slope angle that started at 45º on the south wall and gradually in- creased to 57 ½ º at the center of the west wall, and to 61 º on the north wall. The pit was deepened from 500 to about 550 ft, and approximately 2.55 million tons of waste and ore were removed from the wall.

Jan 9, 1969

By J. Jr. Hudy

The objective of this investigation of the Cendrex was to determine the applicability of the X-ray instrument for the measurement of the ash content of coal. Developed by the Dutch State Mines, this instrument is designed to provide ash analysis of any desired coal product with only a 5-minute lag between sample collection and analytical result. The unit could, with limit controls, be used to feed back signals to preset the separating gravity of coal washers, control the ratio of various coals needed to produce an acceptable blend, and permit the sorting of a washed product into two qualities, one which is below and the other which is above a prescribed ash content. This unit can also be used discontinuously for rapid determination of samples of coals taken in the usual manner.

Jan 7, 1968

By Jacques B. Wertz

Even with the best geological maps, there is a constant need for further information and a constant demand for new clues, particularly in exploration work. New ideas and new thoughts are a necessity for progress. In the structural study of an area, be it in Arizona, Africa, or British Columbia, the basic fracture pattern has to be determined first. There is, however, no assurance that the trends shown on the map are really meaningful because they often are secondary in nature, having occurred as a consequence of an intrusion, of doming, or of gravity faulting. Thus, such trends often are a weak basis for assuming the presence of ancient and important zones of fractures that could constitute useful guides to mineral exploration.

Jan 6, 1969

By Robert R. French

Beneficiation of low-grade nonmetalliferous mineral deposits by electronic color sorting is currently undergoing a period of rapid development. For those deposits in which the specific gravity, strength, soundness, and electric and magnetic properties of the ore and gangue are similar, the possibility of separation by color, reflectivity, or fluorescence offers hope for the utilization of much poorer quality ore than previously thought possible. For those ores in which consistency of color is required or for which a dry process is preferred, the electronic color sorter is particularly adaptable. Tests performed late in 1966 and reported herein are the result of the continued interest in the dry beneficiation of gypsum and the development of higher capacity color sorting machines. The ore used was a discarded fraction that consisted of – 1 ¼ -in, to + 3/8 -in. ore containing 63.1 to 71.4% (average 67.7%) gypsum. This material was contaminated by various amounts of both carbonate rock and shale, but no pretreatment was performed other than screening to closer size limits before electronic color sorting.

Jan 4, 1969

By L. G. Austin, R. R. Klimpel

This communication points out that serious errors exist in some current treatments of the random fracture of solids, including the prior treatments by Klimpel and Austin, Gilvarry, and Gaudin and Meloy. The problem considered in all of these papers is: what cumulative weight versus size distribution is expected for the fragments produced by fracture of a particle? The basic assumption made is that fracture surfaces propagate in random directions from weak flaws in the solid (these weak flaws being activated to fracture by applied stress), with the activated weak flaws distributed at random spatially within the solid. The previous treatments considered fracture in three dimensions, and all use similar physical models, although the mathematical techniques were somewhat different. We first noticed that these treatments were in error when we attempted to reduce the equations developed to the simple case of fracture of a one-dimensional particle, e.g. a long, thin fiber which breaks along its length. For this simple case, it is readily shown that the assumption of random fracture leads to the expression P(V) = (r/Vo) (1-V/Vo) r-1 dV (1) is the probability of occurrence of a fragment of length within the range V to V + dV; V being length dimension, from r random fractures passing through an original size of Vo to produce r + 1 fragments. This equation agreed with the one-dimensional form of an equivalent equation in the original Klimpel-Austin treatment. However, in this treatment it was then stated that, "The fractional weight below size V is [ ]

Jan 8, 1968

By Tuncel M. Yegulalp, Malcolm T. Wane

In general, many problems relating to the exploitation of mineral deposits are probabilistic in nature. This derives from the fact that the geologic universe is inherently random. Probability theory and statistics have been found useful for forecasting the behavior of natural events that occur in the geologic universe. The objective of this paper is to outline the application of the theory of extremes to this forecasting problem. Consider the design of an underground structure or the design of a rock slope. The initial step is the formulation of the various possible structural actions which result from the geometry of the layout. For a given structural model, various intensities of behavior are possible depending upon the load, deformation, and material characteristic spectra, respectively. Of popular interest to mining people is the failure behavior or condition. A necessary feature of the analysis is the rupture strength of the material. Information on the rupture strength is derived from testing either in situ or in the laboratory and the usual outcome is a variation in the test results. This variation is overcome by constructing a frequency distribution of rupture strengths, and then determining a measure of central tendency and variability. The main feature of interest in the analysis is the failure characteristic and its percentage chance of occurrence. Hence, one is naturally led to examine those areas of a distribution curve which are termed the tails. The statistical concepts which can most efficiently handle such areas are contained within extreme value statistics.

Jan 8, 1969

By Milton E. Wadsworth, T. D. Chatwin

Bulk density variations can usually be minimized by properly mixing the material before moisture measurement. The measuring of moisture on material being with- drawn directly from storage bins requires some form of bulk density correction. In Bethlehem's pellet plants continuous automatic bulk density correction and uniform feed-rate control are obtained with Bethlehem's patented Bin Level Control System. With this sys- tem a single probe, suspended or inserted in the bin, senses whether material is at the proper level in the bin and automatically regulates filter speed to control the filter-cake discharge rate to maintain this level. The level of concentrate in the filter-cake bin can thereby be controlled to within ± 1/2 in. of the point of contact between the concentrate and the probe. Material thickness on the conveyor does not have to be controlled accurately and mix compositions can vary widely as long as they do not contain variable amounts of water-soluble electrolytes. In sinter plants, errors caused by changes in normal feed rate and bed height are minimized by counter-weights that permit the free-floating to maintain a uniform contact pressure on the mix. Large changes in mix resistance can be taken care of either by resetting the control point or by adjusting the calibration control.

Jan 9, 1968

By Rodney L. Stone

In past attempts to characterize green and dry iron ore pellets, the authors have found large variations in the results of strength tests performed on closely sized pellets from the same batch. Where bentonite was the binder, such variations in the pellet quality were attributed to the presence of internal flaws and the nonuniform distribution of the binder. Studies have shown that pellet strength is strongly dependent on the degree of "mixedness" of the iron ore concentrate and the bentonite binder. However, before such a relationship can serve as a guide for the development of better mixing techniques and the associated economy of bentonite consumption, more precise knowledge of the bentonite-concentrate mixtures is needed. For example, what is the bentonitc distribution from pellet to pellet and within pellets?

Jan 1, 1970

By John M. Karpinski, David S. Cahn

For many years the green and dry compressive strengths of pellets have been considered as possible criteria of pellet performance during induration. Little attention, however, has been given to standardizing the unfired pellet compressive strength test or to determining the characteristics of this test. The purpose of this study was to compare the constant deformation rate test with constant loading rate tests. In addition, the dependence of these tests on such pellet properties as size and weight was to be investigated.

Jan 7, 1969