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By A. Khan, C. Ciriello, W. Oliveira

"The purpose of this paper is to demonstrate the value of Operational Readiness (OR) in the successful delivery of capital projects. OR can be captured using several technical and practical definitions:• To ensure that the capital project being delivered is capable of an effective start up, ramp-up as planned and a sustainable productive operation.• To function as intended when started, with the appropriate people able to run it.• To increase the value in delivering the product/service through established systems, processes and procedures, while simultaneously minimize risk to both the project and the business.Historically, mining and metallurgical capital projects concentrate efforts on cost and scheduling during the implementation and design phases. The completion and subsequent handover of the operational unit is the main objective.When reviewing the mining and metallurgical industry’s capital projects, it seems many poor results and errors in terms of project design and ramp-up are self-inflicted, with the project neglecting to account for key aspects of the future operational plant. Interestingly, if the problems for the future plant occur during project implementation, they can be prevented during the project phase. It is required to connect the operational knowledge with the project in order to ensure an effective start up and operation.The benefits of OR will be shown to be applicable not only to mining capital projects but also to sustaining and business transformation projects. The paper also includes industrial examples showing both proper and improper use of OR techniques.The paper will cover 3 main areas of Operational Readiness: the OR model, OR related risk elements (i.e., risks associated specifically with the improper execution of OR) and conclude with OR specific case studies."

Jan 1, 2016

By M. M. Papic, J. C. Whitehead

"A sample of Hat Creek coal has been extracted using supercritical aromatic solvents in a laboratory-scale extraction unit. Extract yields in the range 21 to 27 per cent of dry-ash-free coal were obtained.These yields are significantly lower than yields available from high-volatile bituminous coal and some lignites. Thus in a combined extraction/hydrocracking scheme for the production of liquid fuels from Hat Creek coal the char product would exceed that required to supply the energy and hydrogen requirements of the process. Excess char could be used for the production of power or gas for sale.IntroductionThe Supercritical Gas Extraction (SGE) process developed by the U.K. National Coal Board operates in two stages: an extraction stage in which a coal extract is separated from mineral matter and undissolved coal and a subsequent hydrogenation stage.The SGE process is based on the ability of a compressed supercritical fluid to dissolve relatively high molecular weight substrates. It is operated under conditions where a hydrogenrich portion of the coal is selectively extracted in a short residence time extraction stage leaving a hydrogen-deficient char. The process schematic shown in Figure I illustrates that the extract produced is separated from the solvent and passed to a conventional hydroprocessing stage while the char product is utilized in the production of heat, power and hydrogen for the process. An extract yield in the order of 50 per cent dry-ash- free coal represents a ""balanced"" case for such a process in which there is just sufficient char for the provision of these commodities."

Jan 1, 1985

By Jun Shan

The preparation of poly(N-isopropylacrylamide)-monolayer-protected clusters (PNIPAM-MPC) of gold nanoparticles was carried out in a homogeneous phase using three ways, in which three types of PNIPAM ligands were employed. The first type comprised of PNIPAMs with narrow molar mass distributions, synthesized by reversible addition-fragmentation chain transfer (RAFT) polymerization and thus, bearing a dithiobenzoate at the chain end. These polymers were used directly to passivate the gold nanoparticles upon the Schiffrin reaction in a one-pot synthesis. The second type of ligands was derived from the first one through hydrazinolysis, and they therefore contained a thiol end group. The third type of ligands was PNIPAMs obtained through conventional radical polymerization, post-modified to contain thiol end groups. The PNIPAM-MPCs were characterized by high-resolution transmission electron microscopy, and by dynamic light scattering. The one-pot synthesis utilizing the ligands of the first type turned out to be a simple and facile method, compared with the other two ways, with which the size of the gold nanoparticles can be easily manipulated mainly by adjusting the molar ratios of PNIPAM / HAuCl4. PNIPAM is a more efficient ligand to stabilize the gold nanoparticles in water and in organic solvents than alkanethiols. The surface density of PNIPAM chains ranged from 1.8 to 3.6 chain/nm2, which is much lower than that typical for alkanethiols. The thickness of a PNIPAM monolayer bound to the gold core is somewhat larger than the size of the random coil of corresponding free PNIPAM in aqueous solution, which suggests that the conformation of a PNIPAM chain bound to the gold core is to extended.

Oct 1, 2003

By D. Nikols, G. Caraghiaur, P. C. Roxburgh

"IntroductionThe Highvale Mine is located 70 km west of Edmonton , Alberta on the south side of Lake Wabamun. It has been developed by TransAlta Utilities Corporation as a captive mine to supply fuel to two genera ting power plant s. The mine is owned by TransAlta and operated under contract by Manalta Coal. Within the mine permit area, TransAlta own s the right to mine 80% of the recoverable surface mineable coal.The planning process starts with the annually produced 25-year energy forecast which is provided by the Electric Utility Planning Council (EUPC). A 1983 forecast predicts an average annual increase in energy requirements of 4% over the next 25 years. Put another way, the requirement will double before the end of the century. A lar ge part of the base load generation of the Province of Alberta is provided by th e plants fueled from Highvale Mine. The Highvale Mine is therefore expected to maintain a high output over a long period of time.Mine PlanningMine planning is an ongoing, interative process that draws from many sources. All levels of planning draw from the same sources but du e to the different processes and objectives of each planning class, the degree of influence may differ. The planner becomes then a coordinator bringing together data and excerpts from several disciplines in groups. Generally, there are four classes of mining plan s; these are all used at the Highvale Mine (Table I)."

Jan 1, 1986

By W. J. Mcgaughey, R. G. McCreary, S. C. Maxwell, R. P. Young

"Seismic tomography is a process for obtaining images or maps of seismic velocity or other seismic properties of a rock mass. Seismic velocity images reveal variation in elastic moduli which, in tum, are related to several properties required in the geological or geomechanical assessment of a rock mass. Seismic velocity is sensitive to lithology, discontinuities, and in situ stress. Spatial or temporal variation of these properties may be indirectly assessed. Tomographic measurements are sensitive to volumes of ground, rather than determinations at points, or along lines or surfaces, as in conventional geological or geomechanical measurements or mappings.Tomography surveys are complementary to conventional measurements as they have the capability to interrogate a substantially larger volume of ground. They are thus useful in discerning trends or patterns in regions between or surrounding conventional ""point"" measurements of lithology, rock quality, stress, or other parameters of interest. Seismic velocity images give broad indications of trends in velocity; their spatial resolution of ground properties is typically on the order of five to ten per cent of the nominal survey dimension.Research in seismic tomography has been carried out for several years, and the capabilities and limitations of the technique in mining environments are beginning to be understood. This report reviews the present capabilities of seismic tomography surveys in mining, emphasizing rock mechanics applications. Six case studies are used as examples to demonstrate the capabilities of the method in assessing lithological variation, density and orientation of discontinuities, and the effects of stress."

Jan 1, 1994

By S. Borle

The microstructural features produced in friction stir welded AZ31, AZ80 and AZ91 alloys are examined when different welding parameters are applied. The microstructures primarily consist of a-Mg grains with a-Mg + Mg17A112 colonies, however melted films of Mg17A112 are produced in AZ91 alloy when high rotation speeds are applied. When the rotation speeds are slow, or the travel speeds are fast the Mg17A112 were incorporated into the stir zone, however they do not exhibit an elongated lamellar morphology associated with melted films. In the case of AZ80, the extruded base material contains a smaller fraction of Mg17A112 and few of these phases are observed in the stir zones. The results are explained based on the dissolution rate and melting temperatures of Mg17A112 controlling the overall morophology and fraction of phases in the stir zone.

Jan 1, 2011

By S. H. Schulz

100 YEARS AGO, on the first of August, 1877, the mining engineer Friedrich Koepe was granted the patent rights for a hoist driving ropes on the principle of friction. It was named after him: the Koepe hoist. On the occasion of this centenary, the main features of the Kcepe principle are described.

Jan 1, 1977

By J. C. Botham, T. D. Brown

"Coke is the most costly item in steelmaking via blast furnaces . Recent innovations in cokemaking have been directed toward reducing this cost while simultaneously improving coke quality and expanding the range of coals used in the process. It is also important to meet increasingly stringent environmental legislation.Improvements in coke quality have been achieved by novel blend selection procedures, by charge density control using both selective pulverization and partial briquetting, and by the use of modifying additives.The Canadian Carbonization Research Association provides a focus for Canadian cokemakin g research which has demonstrated these technologies in a series of pilot-scale experiments."

Jan 1, 1980

By E. Ghali, A. D. Bas

"Treatment of oxide, e.g. roasted gold ores has received relatively less attention than sulphidic ones and recently, handling of oxide gold ores is becoming essential. In this study, the influence of roasted gold ore (RGO) slurry (at 35% solid ratio) on the electrochemical dissolution of gold has been examined using pure gold and iron oxide minerals (hematite, maghemite, and magnetite) as disc electrodes by zeroresistance ammeter mode either in one or two separate containers. The presence of slurry decreased galvanic currents, i.e. corrosion rates due to the release and increase in the amount of soluble and/or insoluble species that could retard further the anodic behaviour of gold. Higher galvanic currents were observed in two separate containers than that in one container indicating the primary importance of galvanic interactions. SEM-EDS results observed iron hydro/oxide coatings on gold surface in case of magnetite test. However, in case of RGO electrode it is not a perfect passivation, although somewhat decreasing trend was observed on gold dissolution. These findings have revealed that passivation is not only a laboratory phenomenon, but also it could be responsible for the slowdown of gold dissolution in industrial practice.INTRODUCTIONThe cyanidation of gold is an electrochemical corrosion process thus; the dissolution of gold can readily be studied by electrochemical techniques. The outcome/summary of previous electrochemical studies of gold leaching can partially be summarized as follows: Filmer (1982) and Lorenzen and van Deventer (1992) reported the negative effect of pyrite and pyrrhotite on gold leaching due to the galvanic interactions; Aghamirian and Yen (2005) studied gold galvanic corrosion in presence of sulphide mineral electrodes only in one cell using zero-resistance ammeter (ZRA) mode; Dai and Jeffrey (2006) discussed, individually, the anodic and cathodic behaviours between gold and sulphide minerals, and Azizi et al. (2010, 2011) used a bed reactor to examine the influence of sulphide minerals on gold dissolution in one and two separate cells. Accordingly, a slowdown in gold leaching has generally been attributed to the passivation phenomenon, although the indication of this phenomenon is still an undergoing debate. For instance, Mrkusic and Paynter (1970) identified the passivation as the film formation of dissolved species from calcine, Crundwell (2014) explained passivation, in the case of corrosion of metals, as the formation of a layer which is composed of a new chemical species on the mineral surface and this layer inhibits or blocks further reactions. He suggested that passivation is related to the oxidation of the metal, and the formation of a passive layer that retards the rate of dissolution by several orders of magnitude. Consequently, galvanic interactions, passivation phenomena, or combinations of them are considered significant electrochemical factors affecting gold dissolution (van Deventer, Reuter, Lorenzen, & Hoff, 1990; Azizi, Petre, & Larachi, 2012). It is important to note that generalizing the influence of a mineral/metal on gold dissolution may not be correct in all cases, since contrary behaviours/results (for pyrite) have been observed (Aghamirian & Yen, 2005). Therefore, electrochemical study of gold is still a subject of research and need to be examined further in detail."

Jan 1, 2016

By D. Bois, F. P. Hassani, M. Hossein

"A growing environmental awareness hos prompted the mineral industry to seek innovations in waste management and technology. It is estimated that over 500 million metric tonnes of solid waste each year are rejected by the Canadian mineral industry. This waste hos to be disposed of in the most environmentally and economically acceptable manner.An extensive study has been conducted to estimate the cost of implementing total tailings fill from a waste disposal point-of-view as an alternative to large-scale surface disposal of tailings. The cost of waste disposal at the surface (tailings pond), and underground (total tailings fill) for three Canadian mines which have taken part in Quebec Mine Survey conducted in 1992 are analyzed. Surface disposal is the most economical and common method of mine waste disposal in Canada. Total tailings backfill as a method of waste disposal is technically feasible but cannot be regarded as more economic than surface disposal in all . It is important to remember that while surface disposal costs are rising, due to tighter legislation and more environmental pressure on governments; the costs of preparing and placing total tailings backfill is still falling as the technology improves."

Jan 1, 1994

By R. D. Brown

In view of the many changes which have taken place since 1950 in the rules of the Income Tax Act concerning the deduction of exploration and development expenses, many corporate taxpayers each year face the tedious task of determining which particular rules their unclaimed exploration and development expenses are subject to and in what sequence these expenses are to be claimed. Recent amendments to the Act have cleared up some of the mystery of the "ordering" of these deductions. This article examines the sequence in which various categories of exploration and development expenses are to be deducted in accordance with the terms of the Act as amended by Bill C-11.

Jan 1, 1978

By Michael K. O’Leary, William D. Coplin

"Risks from political instability and government policies restricting equity ownership, local operations and transfers of payments affect the profitability of foreign mining ventures. More than seat-of-the-pants judgments and old-boy networks are required to anticipate these risks and to take actions appropriate to offsetting them. A system for making political forecasts, called the Prince System, and a series of charts relaying risk s to a production of key minerals will be presented.IntroductionFirm s with extractive operations outside their home country do not have to be told that political stability and government decisions play a big role in the success o f their operations. The takeover of copper firm s in Chile during the Allende administration in 1971 and the recent decision by Venezuela to reduce Reynolds Metals equity share in a smelting operation from 50% to 28% are two examples of hundreds of events that have determined the profitability of extractive operations over the past decade. Both risks and opportunities for international firms seeking to produce and market raw materials are heavily affected by political conditions. While news of political events travel much faster than in the past and host governments are more clever in shaping the risks as well as the opportunities, politics has always been part of the mining business.What has changed is the need to be more systematic in approaching the assessment of political conditions and how it affects business. The increasing costs of extractive operations, the need for long-range planning, the importance of financial arrangements and the world-wide scope of man y firm s' activities require that the assessment be updated continuously and be comparable across different countries and different types of investments. Political risk analysis, the assessment o f macro-political changes and specific governmental decision s on the operations of extractive industries needs to become as systematic and integrated into corporate decision -making as economic analysis has become over the past two decade s."

Jan 1, 1983

By Stephen G. Hardcastle, Michel G. Grenier

"Safety and health issues are and have been in the last decade a very high priority item with all parties involved in the Canadian mining industry. As a result of this high level of concern for workers' safety and health, Canadian mines are at the leading edge of environmental control technology. For the most part, the occurrence of pollutants in mines is unavoidable. Dust from mining operations, airborne radiation, gases and heat from the strata as well as gases and particulate from diesel engine emissions will undoubtedly be found to some level in most Canadian mines. A lot of work remains to be done, however, in order to bring all Canadian mines at the same level of proficiency when it comes to safety and health. Also, more work is needed in order to maintain our status as world leaders in this field.CANMET's Mining Research Laboratories (MRL) in Elliot Lake and Bells Corners, Ontario, with the cooperation of the mining industry, have contributed to improving environmental conditions in underground and surface mining and milling operations. The extent of collaboration and efforts vary widely from long-term, multi-million dollar projects between several interested parties to smaller projects involving one laboratory and a single mining operation. This paper gives examples of such collaborative efforts and potential future directions as they apply to: mine ventilation analysis using tracer gas techniques, optimization of mine ventilation network efficiency using real-time monitoring and controlled recirculation (heat saving), respirable dust and radiation sampling and control techniques, diesel emission control using regenerative ceramic filters and, finally, the control of sulphide dust explosions and resulting sulphur dioxide production."

Jan 1, 1990

By N. D. MacFarlane, D. J. Mossman

"The Nemeiben Lake ultramafic complex, in the Churchill Province of the Canadian Shield in north-central Saskatchewan, is a small I. 6-km circular plug largely composed of high-alumina pyroxene cumulates forming a series of grossly concentric layers of clinopyroxenite, websterite and wehrlite. Minor dunite and gabbro are present in the northwestern part of the pluton.Disseminated primary magmatic pyrrhotite, pentlandite, chalcopyrite, magnetite and chromite occur throughout the intrusion. Sulphides occur in proportions of economic interest in the northern outcrops. A secondary assemblage of fine-grained oxides, sulphides and native metals occurs in serpentinized and uralitized peridotites and pyroxenites. Primary opaque minerals are largely altered to marcasite, violarite and hematite. The ores represent a primary magmatic assemblage extensively modified by metamorphism and, to a lesser extent, by supergene alteration.The complex intruded an Early Aphebian supracrustral succession during the waning stages of the Hudsonian orogeny. The metamorphic peak during Hudsonian time reached middle to upper amphibolite facies, granitized the country rocks and contributed to the partial amphibolitization of the ultramafic pluton.The Nemeiben complex has a number of features in common with the zoned intrusions of southeastern Alaska, including: the diopsidic composition of clinopyroxene, highly magnesian olivines, ubiquitous primary magnetite, relatively high alumina content of clinopyroxenes and the unlikelihood that associated gabbroic rocks are derived from a magma common to the ultramafic rocks. However, at Nemeiben, orthopyroxene occurs as a widespread postcumulus phase and, to a lesser extent, as a cumulus mineral. This fact, together with geochemical data on whole-rock and mineral compositions, indicates a tholeiitic parentage.The nickel-copper deposits of the Nemeiben Lake ultramafic complex are not currently economic, although standard technology for recovery of sulphide minerals in the clinopyroxenite (and websterite) would probably be adequate. Most ore minerals in the altered peridotites belong to the fine-grained secondary assemblage of opaques due to the formation of retrograde hydrous silicates and are probably too fine grained for standard recovery methods."

Jan 1, 1982

By Gaétan Bourdages

A clarification technology used by municipalities to produce high-quality drinking water, polish sewage treatment plant effluent and handle combined sewer overflows has recently found new applications in the mines and iron and steel industry. This patented process, known as ACTIFLO®, utilizes microsand in a ballasted flocculation process to enhance the settling characteristics of suspended solids, increasing the efficiency sufficiently to achieve a clarifier footprint that is smaller than the one of a conventional clarifier. ACTIFLO® rise rates vary from 40 to 170 m/h with a total system hydraulic retention time of about 10 minutes. The result is a clarification system so compact that a full-scale system can operate as a trailer-mounted unit for temporary applications or as a permanent installation in facilities with space limitations. This paper explains the process and presents case studies in which this innovative technology was used at mines and steelmaking facilities to meet compliance requirements.

Feb 1, 2008

By M. Mahdi, L. So, A. MacMillan, D. Metcalfe, J. Woloshyn, D. Sauter, N. Uys, JP. Janse van Rensburg

For city smelters, with limited real estate, efficient slag cleaning furnaces followed by water granulation to produce an iron silicate product is the preferred process approach. Water granulation, however, consumes large volumes of water and requires high maintenance due to abrasive slag/water slurries. Air granulation offers an alternative to water granulation, which eliminates water use and has low maintenance requirements. Although full-scale operation has not been implemented for copper slags, full-scale operation for platinum group metal (PGM) converter slag has been implemented. A review of full-scale air granulation performance for PGM converter slag is provided. Based on PGM converter slag granulation performance, parallels to copper slag granulation are drawn and full-scale operation for copper slag is modelled using computational fluid dynamics (CFD). INTRODUCTION Typical slag management practices in the copper industry include dumping, slow air cooling, and water granulation, as shown in Figure 1. Dumping is the most commonly used slag handling method for most metal production plants, but presents challenges including the requirement for a large slag pit, requirement for expensive/high-maintenance “hot” mobile equipment, risks associated with transportation of molten slag, and no value recovery from slag as a sellable by-product or from slag as a source of heat.

Jan 1, 2019

By Ian Sherrell, Michael Pirie, Riddhika Jain

"Conventionally, direct reduced iron (DRI) mixed with char from rotary furnace discharge is cooled down before separating the char via magnetic separator. The DRI must then be reheated for further downstream processing (i.e. smelting). Outotec has developed the PyroMagTM specifically to conserve thermal energy during this separation process. DRI is cleaned by feeding hot particles directly after reduction onto a rotating surface just above a stationary magnet assembly. This allows hot feeding of the clean DRI to the downstream equipment which renders the entire process more energy efficient.Continuous testing of the PyroMagTM was performed to verify design and separation. Because the use of DRI/char was not practical for test use, the pilot plant testing was conducted using a magnetite/sand mixture heated up to and beyond the Curie temperature of magnetite. The separation was efficient for both cold and hot processing with recoveries varying from 98.6% to 99.74%. As expected, the recoveries decreased to as low as 83.99% as the temperature was increased beyond the curie temperature of magnetite (585°C). Long term separation was thermally efficient and sustainable.INTRODUCTIONMagnetic drum separators are widely used in the mineral processing industry. These low to high intensity magnetic separators are used to concentrate various magnetic material, such as iron ore, and less magnetic materials, such as ilmenite and garnet from silica and other contaminantsThere are multiple classes of magnetism based on the effect that each material displays while in and out of a magnetic field. In a simplified fashion, which is more appropriate for mineral processing, the magnetic susceptibility of a mineral is used to define it as being ferromagnetic, paramagnetic or nonmagnetic. In this respect, minerals with varying degree of magnetic susceptibility can be selectively separated with different types of magnetic separation equipment in different stages of a process flow sheet. The lower strength magnets are employed early in the process to remove highly magnetic fractions. Later stages utilize greater magnetic fields for capture of less magnetically susceptible material."

Jan 1, 2016

By R. G. Gillies, C. A. Shook, W. H. W. Husband

"The current state of knowledge concerning pipeline transport of coal in water slurry form is summarized for the four categories: coal-water fuels, conventional fine coal slurries, coarse coals and stabilized mixtures of coarse and fine particles. Surface chemistry is of dominant importance for coal-water fuels and considerable progress in understanding the role of surfactants has been achieved in recent years. Little generalized research on the flow of conventional fine coal slurries has been done in the past 17years, although innumerable conceptual designs and feasibility studies have been undertaken. Coarse coal slurries are fairly well understood but the model which explains their flow requires more data to be established fully. Stabilized flow mixtures should probably obey the same model as coarse coal slurries but experimental results for stabilized mixtures have not yet been incorporated in a comprehensive theory.IntroductionPipeline transportation of coal in a water vehicle has been employed for many years in coal washeries. It has been used less frequently in hydraulic mining and thermal power station fuel supply systems. The suitability of coal for pipeline transport arises from its moderate specific gravity relative to the carrier fluid and the fact that throughputs are often large and steady over long periods of time."

Jan 1, 1990

By J. R. Morris, A. E. Ball, G. W. Kuzyk

"AECL Research has constructed an underground laboratory for the research and development required for the Canadian Nuclear Fuel Waste Management Program. The experimental program in the laboratory will contribute to the assessment of the feasibility and safety of nuclear fuel waste disposal deep in stable plutonic rock.In 1988, AECL extended the shaft of the Underground Research Laboratory (URL) from the existing 255 m depth to a depth of 443 m in cooperation with the United States Department of Energy (USDOE). The project, which involved carrying out research activities while excavation and construction work was in progress, required careful planning. To accommodate the research programs, full-face blasting with a burn cut was used to advance the shaft. Existing facilities at the URL had to be modified to accommodate an expanded underground facility at a new depth. This paper discusses the design criteria, shaft-sinking methods and approaches used to accommodate the research work during this shaft extension project.IntroductionThe Underground Research Laboratory (URL), a major geotechnical research facility, has been developed by AECL Research, 120 km northeast of Winnipeg, Manitoba. The URL is part of the Canadian Nuclear Fuel Waste Management Program (CNFWMP), which is assessing the concept of nuclear fuel waste disposal in a vault deep in stable plutonic rock of the Canadian Shield (Hancox, 1986). The URL provides a representative environment to conduct a wide variety of geotechnical research relevant to nuclear waste disposal. Extensive characterization and monitoring programs were carried out prior to construction and will continue during operation. The operating phase experiments began in 1989 and will continue until the year 2CXXl (Simmons, 1990). Figure I shows the present extent of the URL facilities and the proposed future development."

Jan 1, 1991

By C. R. Lattanzi, M. J. Davie, L. D. Smith, J. R. Goode

"The feasibility study determines the technical and economic viability of a project at the level of accuracy required by the owner to make an investment decision. The economic analysis usually includes calculation of the discounted cash flow. Key components of the cash flow include the project capital cost, the operating costs, construction schedule, production rate, product prices and financial details.This paper examines the feasibility study for a typical mining project. The paper discusses acceptable methods for the determination of the geological and mineable are reserves. The prerequisites for the development of suitable designs, and the calculation of capital and operating costs for the mine, processing plant, and infrastructure are reviewed. Important features of the cash flow analysis and its interpretation are presented.IntroductionThe commercial development of a mineral deposit invariably requires the investment of capital in preparing the deposit for production. It has always been necessary, therefore, to demonstrate to the investor of capital that production of a saleable commodity is both technically feasible and economically viable. The instrument typically used to make these determinations is the feasibility study .Traditionally, mining companies have been rather conservative in their approach to financial management. Until about thirty years ago, the capital required to develop a new mine was most frequently provided by internal corporate cash now and virtually all of the necessary technical and economic studies were performed 'in house'. Under these circumstances, there was little standardization as to what constituted an acceptable feasibility study, and even less as to what constituted an acceptable measure of economic viability."

Jan 1, 1991