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By Murray W. Grabinsky

This paper considers thickening mine tailings to dense non-segregating slurry or paste for surface disposal. The driving motivation for this initiative is the elimination of ponds, reduction in containment dams and significant decrease in water being sent to the tailings basin. This inherently reduces risks of environmental and structural failure. Some of the engineering challenges in creating a stable stack of thickened or paste tailings are identified, and possible field and laboratory testing techniques in support of design are discussed. Finally, the integration of monitoring activities into the ongoing management of the surface disposal site is considered.

Nov 1, 2002

By D. Imeson, T. Grammatikopoulos, M. Aghamirian, M. Oliazadeh

"More than 70% of potash is produced worldwide by froth flotation. Flotation of potash was developed in the early 1930s. Amines are widely used for flotation of sylvite (KCl) from halite (NaCl) and insoluble materials such as clays. Amine collector is also absorbed by clays. Therefore, clays are usually separated by scrubbing and de-sliming prior to flotation. Alternatively, slimes can be floated ahead of potash flotation. Flotation recoveries of sylvite are commonly in the range of 85%, while losses can occur in slimes, flotation tailings and make-up of process brine. Ores containing free coarse-grained sylvite are generally screened, whereas both fine and coarse fractions are conditioned and floated separately. The unique features of potash flotation include solubility of sylvite in water, the size of particles floated and fast kinetics. Particles up to 2.3 mm can be floated and about 50% of flotation feed can be removed in the rougher stage in few minutes. The main challenges in potash flotation are the recovery of potash from slimes, flotation efficiency in the presence of carnallite and recovery of coarse potash grains. A review of potash flotation shows that there is still room for improvement in both coarse and fine potash flotation. The present paper reviews the most significant flotation parameters including reagent type and dosage, flotation circuits, flotation equipment size and new developments in potash flotation. The latter include new reagents, flotation technologies (Hydrofloat, Jameson and column cells) larger flotation cells and slimes flotation.INTRODUCTION Potash is the common industrial term for potassium in various chemical combinations and minerals soluble in water. About 90% of potash produced worldwide is used as agricultural fertilizers. Flotation is the main treatment process of sylvinite (KCl-NaCl) ores for recovery of sylvite (KCl). Potash concentrate should contain a minimum of 95% KCl and be relatively free from 0.2 mm KCl fines. The flotation process for beneficiation of potash ores was developed in United States and Russia concurrently in the early 1930s. In 1934, Potash Corporation of America applied flotation process in a commercial scale (Tippin R.B. and Huiatt J.L). In the initial application, halite (NaCl) was selectively floated by employing lead chloride as an activator and soap as collector. The sylvite concentrate was reported in the cell underflow."

Jan 1, 2012

By J. P. Thomson

Magnesium alloys are steadily improving their market share as structural components especially in the transportation sector. Therefore, there is a great deal of interest from the automotive and the metal casting industry to develop viable economic casting processes for magnesium-base alloys. This paper summarizes the preliminary results on the continuing projects within CANMET-MTL on casting processes such as gravity and low-pressure casting in sand molds, permanent molds and lost foam.

Jan 1, 2004

By C. Bourgoin

"The limited development and application of new technologies to narrow-vein mining is currently impeding progress in the industry to a point where productivity, working conditions and operating costs have reached a critical stage in many Canadian mines.In an effort to foster the emergence and application of new technologies, Université Laval, together with other organizations, has carried out a R&D project focussed on the need of identifying new development pos5ibilities and of facilitating the transfer of technology in matters related to underground mining methods and machinery.The first phase of the study consisted of an in-depth assessment of current practices and problems in narrow-vein mining. The second phase was a state-of-the-art survey of mining methods and equipment, together with proposed modifications and innovations. The third phase of the project concerns the experimental development as well as the principal application of various proposed technologies.This paper presents an overview of the organizational, technical and strategic considerations which guided the University group and it serves as well to introduce a newly-published brochure, entitled ""Underground Mining Techniques of Vein Deposits"", which summarizes such work to date. More specifically, a perspective of technological developments applicable to narrow-vein mining is presented."

Jan 1, 1994

By R. T. Jones

The largest known platinum group metal (PGM) deposit in the world is the Bushveld Complex in South Africa, with the Great Dyke in Zimbabwe also being one of the biggest. It is therefore not surprising that the majority (just over 5 million troy ounces or 156 metric tons per annum) of the world's platinum is produced in Southern Africa. Primary smelting of ore concentrates is carried out in that region by five companies, namely Anglo Platinum, Impala Platinum, Lonmin Platinum, Northam Platinum, all of South Africa, and Makwiro Platinum in Zimbabwe. The only other primary smelter of platinum group metals is Stillwater Mining of Montana, USA, although very significant quantities of PGMs are produced as co-products by Norilsk Nickel of Russia. Smaller (but still significant) quantities of PGMs are produced by Falconbridge and Inco of Canada, also as co-products from nickel sulphide smelting. There are many similarities between PGM smelting and nickel sulphide smelting, and the range of technologies in use includes six-in-line rectangular electric furnaces, three-electrode circular AC furnaces, Peirce-Smith converters, and Anglo's ACP (based on Ausmelt technology). PGMs are also recovered from residue materials using DC arc furnace technology.

Jan 1, 2005

By D. Imeson, T. Grammatikopoulos, G. Pearse, M. Aghamirian, C. Mohns

"Spodumene mineral is a source of lithium for lithium ion batteries. Thus, the production of a spodumene concentrate with an approximate grade of 6% Li2O is targeted. Traditionally, spodumene is concentrated by froth flotation using fatty acid as the collector. Amine collector can also be used to float mica ahead of spodumene as required or feldspar from the spodumene tailings. Slimes have a negative effect on spodumene flotation and they are commonly separated by scrubbing and de-sliming prior to spodumene flotation. The main losses in spodumene flotation typically occur in cyclone overflow, scrubbing slimes, spodumene flotation tailings and mica concentrate. In recent years, dense media separation (DMS) is the main concentrating process in Australian spodumene operations. In these operations, DMS is efficient at generating coarse grain concentrates and rejecting large portions of silicate gangue, thereby directly reducing the milling cost. The ore should be crushed to 3/8” or coarser while further crushing is possibly necessary on the middling particles to scalp further spodumene. The DMS feed should be classified to remove fines (typically -0.5 mm particles). The final middlings and undersize fractions could then be processed by flotation. The main requirement in DMS operations is to have good spodumene liberation at relatively large grain size. This paper reviews the most significant DMS and flotation parameters in spodumene beneficiation. The treatments of different minerals in the spodumene ore are also addressed.INTRODUCTION A number of laboratory/pilot plant programs have been recently conducted at the SGS Lakefield site, sponsored by different clients. The main objective has been to develop a process flowsheet to generate a spodumene concentrate containing 6.0% or higher Li2O (~75% spodumene) suitable for producing lithium carbonate by a hydrometallurgical process. Depending on spodumene liberation size, dense media separation (DMS) can be an attractive option to produce a final high grade concentrate and to reduce the mass to be treated in the flotation circuit. In such a case, crushing would typically be performed in stages, with DMS separation to recover a spodumene concentrate and reject gangue minerals following each stage. DMS middlings and -0.5 mm fines can be processed by flotation to further recover spodumene. In the flotation process, coarse stage grinding minimizes the grinding cost and formation of slimes. In the majority of cases, a grind size (K80) of approximately 200 microns is sufficient for flotation. After primary grinding, mica, if present in an appreciable amount, should be floated to minimize interference with spodumene flotation. Desliming after scrubbing and high density conditioning are the key process operations prior to spodumene flotation. Spodumene can then be floated from silicate gangue minerals with a fatty acid or a mixture of fatty acid and petroleum sulfonate at slightly alkaline pH. Subsequently, feldspars can then be floated from the spodumene tailings."

Jan 1, 2012

By J. B. Hadaway

The operation at Phu Kham commenced design and construction in early 2006 and was commissioned in May 2008. This paper will examine and discuss the project from the inception of flow sheet development and equipment selection, equipment design and manufacture, construction, commissioning and ramp up to full production. The paper will touch on the strategies employed to achieve a short schedule and the efficient use of capital, but with the main emphasis on the grinding circuit. Various challenges during the early years of operation will be discussed including the effect of ore characteristics, including competency, on the performance of the grinding circuit. Actions to overcome these challenges and to enhance performance will also be discussed. Finally, current and future plans to improve the performance of the grinding circuit and the overall plant will be summarised.

Jan 1, 2012

By D. W. Bennett, J. B. Hadaway

The operation at Phu Kham commenced design and construction in early 2006 and was commissioned in May 2008. This paper will examine and discuss the project from the inception of flow sheet development and equipment selection, equipment design and manufacture, construction, commissioning and ramp up to full production. The paper will touch on the strategies employed to achieve a short schedule and the efficient use of capital, but with the main emphasis on the grinding circuit. Various challenges during the early years of operation will be discussed including the effect of ore characteristics, including competency, on the performance of the grinding circuit. Actions to overcome these challenges and to enhance performance will also be discussed. Finally, current and future plans to improve the performance of the grinding circuit and the overall plant will be summarised.

Jan 1, 2012

By P. Tarassoff

Extractive metallurgy is concerned with the winning of metals from their ores and concentrates. It is therefore not unexpected that extractive metallurgy in Canada has always been closely linked with mining. The discovery and exploitation of new orebodies has provided the impetus for the building of many of our smelters and refineries - past and present - and for the development of new metal extraction processes. The purpose of this paper is to provide a brief overview of those early metallurgical developments, and to highlight the continuing expansion and diversification of the Canadian metallurgical industry.

Jan 1, 1999

By Sunil S. Gandhi

Magmatic-hydrothermal deposits rich in magnetite and/or hematite form a broad group that includes monometallic Fe deposits and polymetallic (mainly Cu and Au) deposits. They show a considerable variation in deposit characteristics, but share the genetic processes of magmatic differentiation and related hydrothermal activity in intermediate to felsic melts, and in some cases involve brines and/or meteoric waters during mineralization. They include several world-class deposits. They range in age from Proterozoic to Recent, and form important metallogenic districts in Scandinavian, Canadian, Brazilian and Australian Shields, Circum-Pacific regions, and in China, Iran and Turkey. Monometallic deposits have been important sources of iron in the past and still contain significant resources of the metal, e.g., the Kiirunavaara deposit in Sweden. The giant Olympic Dam Cu-Au-Ag-U-REE deposit was discovered in 1975, and since then explorationists have focussed on search for analogues worldwide. This has brought to light a number of economically important new deposits and prospects, including examples in Canada. The discoveries have in turn prompted considerable research on individual deposits and the group as a whole. This short paper is an attempt to summarize the main aspects of the group from the literature cited in Gandhi and Bell (1996), and from the papers published recently in two milestone volumes on these deposits, edited by Porter (2000 and 2002).

May 1, 2003

By H. Stillman

The International Copper Association, Ltd. (ICA) is responsible for guiding strategy and policy, and funding international initiatives that help deliver the benefits of copper around the world. ICA's technology initiative supports this mission by funding pre-competitive technology development and accelerating the commercialization of new copper-related technologies. The R&D portfolio includes some projects that defend existing applications such as plumbing tube and data cabling, but the majority of projects are designed to enable new applications for copper. The current technology portfolio is focused on leveraging copper's unique electrical, thermal, mechanical and antimicrobial properties to define and expand the role of copper in areas poised for future technological growth: reducing disease transmission, sustainable energy generation, reducing the environmental impact of production processes, and in increasing energy efficiency. Projects related to these areas are conducted at qualified external organizations including universities, early-stage firms, and large OEMs worldwide. This talk will provide an overview of ICA's technology initiative's principles, projects and partnerships to stimulate the audience to think about copper-related innovations.

Jan 1, 2007

By Tassos Grammatikopoulos, Gary Pearse, Massoud Aghamirian, Charlotte Forstner, Stephen Mackie

"SGS Minerals Services (Lakefield, Ontario site) has conducted a number of developmental and pilot programs that examined methods for the beneficiation, extraction and recovery of lithium from a variety of spodumene containing hard rock sources. An overview of the beneficiation programs is presented separately by Aghamirian, Mohns, Grammatikopoulos, Imeson & Pearse (2011). The focus of this discussion will be the hydrometallurgical steps involved in producing a high grade lithium carbonate (Li2CO3) sample from the spodumene concentrate. SGS has applied the standard Li2CO3 hydrometallurgical flow sheet to a number of spodumene concentrates and has determined that all of these samples respond in a similar manner to the process and produce a final product having a Li2CO3 grade of >99.5%. The standard process is sufficiently robust to accommodate the observed variability in the concentrates that have been tested. Advantage of one spodumene deposit over another will thus be gained through process optimization and innovation. Optimization at the beneficiation stage and at the hydrometallurgical stage must be considered. Some aspects of the process optimization of the hydrometallurgical flow sheet will be presented.INTRODUCTION The current activity in the exploration, development, and mining of lithium based minerals is due in large part to the key role that this metal plays in the rechargeable battery industry (U.S. Geological Survey, 2011). Lithium battery technologies are widely applied in a range of portable electronic consumer products. The expanding development and production of hybrid and fully electric vehicles has contributed to the increased interest in finding and developing new lithium sources in order to meet the expected demand from the lithium battery industry. Lithium may be sourced from continental brines (sub-surface salars), hard rock minerals (pegmatite, spodumene), hectorite clay deposits, geothermal brines and oilfield brines. Currently the majority of the lithium products are produced from Li brines. The four major lithium producing countries are Chile, Australia, China, and Argentina (U.S. Geological Survey, 2009; Roskill, 2009). These countries accounted for 97.6% of the total lithium produced in 2010."

Jan 1, 2012

By William A. Napier

The Mantaro Phosphate Property is located ~ 250 km east of Lima, Peru in the Andean altiplano near the city of Huancayo, Junin District. The Mantaro deposit is a mineralized zone of phosphatic rock currently defined by surface outcrops, trenches and drilling extending over a strike length of more than 30 km and a width of more than 5 km covering ~27,700 hectares. Mineralization is exposed as three roughly parallel exposures (?mantos?) trending in a northwest-southeast direction along the Mancaspico syncline. Estimated mineral resources1 contained in Manto 1 of the Property (4% P2O5 cut-off) as of February 21, 2010, are: Measured 5.548 million tonnes @ 10.8% P2O5 Indicated 33.975 million tonnes @ 9.9% P2O5 Measured + Indicated 39.523 million tonnes @ 10.0 % P2O5 Inferred² 376.265 million tonnes @ 9.0% P2O5 1Tonnes rounded to the nearest 1,000 and grade to 1 decimal place. 2Inferred material reported with no cut-off and an assumed grade. There is considerable potential to expand the resource base. Mantos 2 and 3 of the deposit have been geologically mapped and exhibit surface mineralization widths similar to Manto 1. Given that the deposit is of marine sedimentary origin, it is reasonable to infer that comparable grades and depth of mineralization are present within Mantos 2 and 3. Based on this assumption, the potential mineral deposits within Mantos 2 and 3 are estimated to be approximately: Manto 2 425-435 million tonnes @ 9% P2O5 Manto 3 280-290 million tonnes @ 9 % P2O5 These potential quantities and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in these targets being delineated as a mineral resource. However, should such conceptual resources be confirmed by trenching and drilling, the Mantaro Phosphate Property would rank as one of the most significant phosphate deposits in the world.

May 1, 2011

By Rodney A. Cooper

The Mary River iron ore deposits were discovered in the 1960?s. The high quality of the deposits was immediately evident, and drilling programs were successful in defining a resource adequate for supporting a feasibility study. Through a combination of ownership, market and political forces, the deposits were not developed. Having missed the window of opportunity, the project remained dormant for over three decades. Baffinland Iron Mines Corporation, with its 100% ownership of the Mary River deposits, began trading publicly in 2004. Modern exploration and metallurgical test work began in 2004 and has continued in 2005 and 2006, resulting in total expenditures during this period of almost C$60 million. In May 2006, an engineering team lead by Aker Kvaerner E&C, a division of Aker Kvaerner Canada Inc., completed a scoping study based on the first of five identified deposits. Highlights of that study include direct shipping of high quality lump ore to Europe over a 34 year mine life at a production rate of 10 million tonnes per annum, based on an indicated resource of 309 million tonnes at 66.1% Fe and an inferred resource of 28 million tonnes at 65.9% Fe. Capital costs were estimated at C$1.5 billion. Using iron ore prices approximately 36% below that of the 2006 market, a pre-tax internal rate of return of 15% was estimated assuming equity financing. Payback on initial capital was 5.9 years. The pre-tax life-of-mine cash flow was estimated to be C$6.3 billion. As a result of this study, Baffinland initiated a Definitive Feasibility Study, under the management of Aker Kvaerner, which is scheduled for completion in December 2007. This paper touches on the geology of the deposits, the current resource and the outlook for expansion. Project permitting, construction planning, logistical challenges and ocean shipping considerations are discussed, providing a current perspective on the project scale, scope and timeline for commercial production. In addition, an overview of the Company?s bulk sampling program will be provided.

May 1, 2007

By Gavin Ritson, Chris Ward

"The oil sands industry is still fairly young with the first viable oil sand operation having been started in Alberta in 1960. Since then numerous modifications and improvements have been tried and implemented. The current process makes use of high velocity pumping of oil sands slurry with hot water (hydrotransport) to achieve separation of bitumen from the sand.A number of the oil sands processes have been adapted from unit operations that are used in mineral processing, such as crushing, screening, flotation, cycloning and thickening. This paper outlines a typical oil sands process flowsheet and investigates the differences and similarities in technologies and costs to other mineral processing industries. It also considers the very large throughputs required, and presents some of the difficulties and challenges currently faced by the industry as a result of high demand for oil and environmental pressures.INTRODUCTIONOil sands (also known as tar sands) deposits are found throughout the world. The Athabasca Oil Sands deposit in Aberta is the largest of these. Oil sands consist of a mixture of crude bitumen (a semi-solid form of crude oil), silica sand, clay minerals, and water. The Athabasca, Peace River and Cold Lake deposits cover 141,000 square kilometers and contain about 1.7 trillion barrels (270×109 m3) of bitumen in-place, comparable in magnitude to the world's total proven reserves of conventional oil"

Jan 1, 2009

By Kenneth L. Norris

Stonegate Agricom Ltd. is currently conducting exploration and development drilling of the Paris Hills Phosphate Project (Paris Hills Project) located in Bear Lake County, southeastern Idaho, 3.2 km west of the towns of Paris and Bloomington, Idaho. The project is located adjacent to a highway and 19 km by paved highway to Montpelier, Idaho where the Union Pacific Railroad system is located. Power and water are available locally. The nearest metropolitan centre is Salt Lake City, Utah approximately 225 km by road to the south-west of the property. The Paris Hills Project encompasses an area of approximately 856 hectares. Property holdings consist of three (3) patented lode mining claims and 16 contiguous fee parcels (some with federal phosphate leases). Active open pit phosphate mining operations are located in surrounding counties in south-east Idaho and are owned and operated by Agrium Inc., Monsanto Company and J.R. Simplot Company. The Paris Hills Project is located near the centre of the Western Phosphate Field which constitutes the most extensive phosphorite beds in the United States. Phosphate beds of the Western Phosphate Field occur within the Phosphoria Formation of Permian age and extend over an area of more than 350,000 km2 including extensive areas of Idaho, Utah, Wyoming and Montana. At Paris Hills the phosphate mineralized beds occur in the overturned limb and the horizontal limb of the Paris Syncline. Grades and thicknesses in both the western overturned limb and the eastern horizontal limb of the anticline are similar. The vast majority of potential mineralization occurs in the horizontal limb which underlies most of the property holdings. Mineralization in the overturned limb has a strike length of over three (3) kilometres and extends from the surface to a depth exceeding 300 m depending on location along the north-trending strike of outcrops. Depths of the horizontal limb range from surface along the north side of Bloomington Canyon to estimated depths of 915 to 1,035 m at Paris Canyon. The property contains an Inferred resource of 109.6 million tonnes at 23.6% P2O5 over two mineralized horizons. The phosphate zones have a strike length of over 3 km and extend from surface to a depth of at least 900 m. Drilling commenced late in the 3rd quarter of 2010 and is planned to continue through 2011. The drilling was planned to target an area of potentially higher grade phosphate mineralization and better define and upgrade the current resources.

May 1, 2011

By K. B. Culver

"This paper provides background information on the expansion programs of Rio Algom Limited at Elliot Lake. Included are details on the Quirke expansion program, the Panel mine rehabilitation program, including the selection procedure for the tailings containment area, the Stanleigh mine rehabilitation program, housing, government regulations and the Environmental Assessment Board hearings. Introduction After 2Y2 years of public hearings, 4 years of arbritrating differences of opinion between our engineers and government licencing authorities, interspersed with research into radium removal and development of the LAMIX process and carrying out the work associated with some 24 control orders issued to us by the MOE, it is very difficult to compress all of the experiences and frustrations into a single paper. The highlights, as they relate to the expansion programs of Rio Algorn Limited and its affiliate, Preston Mines Limited, will be covered. Denison Mines Limited, of course, is the other uranium producer in Elliot Lake. They are currently in the process of expanding from 7,000 to 11,000 TPD by the second half of 1980 and then to 15,000 TPD by the mid 1980's. In giving this overview, the following seven items will be discussed: • The basis for Rio Algom's and Preston's expansion plans. • The Quirke Expansion. • The Panel Rehabilitation. • The Stanleigh Rehabilitation. • Housing Programs. • Government Licencing Requirements. • Environmental Assessment Board Hearings."

Jan 1, 1980

By J. W. Scott, G. G. R. Falkenberg

"The Syncrude project is an integrated complex designed to mine, extract and upgrade bitumen from the Athabasca tar sands to produce 129,000 barrels per day of synthetic crude oil. This paper provides a brief general description of the location, history and geology of the tar sands and the overall organization and structure of the project. The major emphasis and the bulk of the detail presented deals with the extraction plant; a material handling and mineral processing installation designed to treat 312,000 tons per day of tar sand feed.History of the Tar SandsThe Athabasca tar sand deposit was recorded in 1788 by Peter Pond, however the first serious geological mapping and exploration did not begin until 1915. Little interest was taken in the deposits until the Second World War, when the governments of Canada and Alberta conducted an extensive exploration program. In addition a number of pilot plants were sponsored during the 1940 -1950 decade. The hot water separation process was successfully demonstrated on the pilot plant scale during 1948 -49, and was established commercially in 1967 in the G.C.O.S. plant. The Syncrude plant, due to come on stream in April 1978, also employs the hot water separation process."

Jan 1, 1978

By R. Carpenter, H. Muntanion, P. Kleespies, E. Flood, M. Tansey

Abstract - BHP Minerals discovered the Archean lode gold ULU deposit on the western margin of the High Lake Volcanic Belt in 1989. The greenschist to amphibolite facies mafic volcanic and sedimentary rocks on the property are folded into a 5 km-long anticline. There is a close spatial association of Au-As zones to the trace of this F2 ULU anticline. The largest of these auriferous zones, the Flood zone, is localized at the core of the fold. The southeast-trending Flood zone consists of several anastomosing lenses that have been traced for 435 m on surface. Overall, it dips steeply (70° to 80°) to the southwest and has been intersected to depths below 600 m. The hosting high-iron tholeitic basalt displays a lower amphibolite mineral assemblage of ferrohornblende + plagioclase + ilmenite with accessory quartz and epidote. Alteration minerals include biotite, chlorite, hornblende, actinolite-tremolite, and potassium feldspar (microcline) with minor calcite, epidote, tourmaline, and titanite. The highest gold values occur where brecciated basaltic wall-rock clasts are replaced by acicular arsenopyrite + quartz + K-feldspar. BHP Minerals completed 54,783 m of both exploration and resource development drilling before selling the ULU property to Echo Bay Mines in 1995. Development of ULU as a satellite deposit to Echo Bay’s Lupin mine began in 1996. A -15% ramp was extended to the 155-meter level, and 16,011 m of underground drilling were completed before the decline in gold prices forced a suspension of activities at ULU in August 1997. The current owners, Wolfden Resources Inc., drilled 18,569 m in 2004 to increase confidence in the resource blocks. Following this drill program, a revised resource calculated by an independent consultant determined that the ULU deposit contains an inferred/indicated mineral resource of 1,130,000 t grading 11.34 g/t gold (373,748 oz) to the 360-m level. The portal was re-opened in 2005 and a prefeasibility study is underway.

Jan 1, 2004

By K. Spence

"The notion of “value” has always been a subjective and contentious issue. Indeed, value is in the eye of the beholder. There are as varied methods and practices for valuing property, as there are industries in which they are applied. For example, there is replacement value, insurance value, salvage value, appraised value, book value, and fair market value, to name a few, although in the mining industry, valuations usually refer to fair market value.In the Canadian mining industry, at present, there are no comprehensive regulations or guidelines that specify which approaches or methods are appropriate for use in the valuation of mineral projects. In January 1999, The Mining Standards Task Force of the Toronto Stock Exchange and the Ontario Securities Commission recommended that the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) establish a committee to review and advise on approaches and methodologies for the valuation of mineral properties. Among the approaches to be considered are included the following: the discounted cash flow approach, the cost approach, the option pricing approach and the market comparables approach. In addition, methodologies differ depending on whether the project is at the exploration stage or the producing stage.The CIM Special Committee on the Valuation of Mineral Properties (CIMVal) expects that its final report will form the basis for a Canadian code or standard for the valuation of mineral properties."

Jan 1, 2002