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By David S. Bolin, Gary R. Peterson

INTRODUCTION In both the United States and Canada, a company making a public offering of securities must comply with regulations which have been promulgated by Federal and/or Provincial Legislatures. This paper focuses on the regulations pertaining to reserve reports required by the United States Securities and Exchange Commission (SEC). SEC RESERVE FILINGS Reserve reports made to the United States Securities and Exchange Commission are the only reserve reports which are directly regulated by the United States government. The requirements for SEC reserve reports are set forth in the filing forms as shown in Appendix A, from Item 17A of SEC Form S-18. These reporting requirements, which are intended to protect the investing public from inaccurate or misleading claims, are primarily oriented to S-1 or other filings for new stock issues but must also be followed for annual 10K reports which must be filed annually by U.S. public corporations as part of the Corporate Annual Report. These undertakings require independent audits of reserves, mine designs, plant facilities and a general economic evaluation of the planned or existing operation as part of the backup documents for filing. An ore reserve is defined by the SEC as "That part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination". This definition is unchanged since it was last

Jan 1, 1988

By Wayne W. Murdy

Since 1993, Newmont Mining has been growing through the development 'q of three major foreign mining operations with a fourth under construction. The first project, Yanacocha in Peru, began operating in October 1993. This occurred at a time when political and business risk in that country was considered high. In 1995, Newmont began operating the Muruntau joint venture in Uzbekistan. It is the first mining project of its kind in the Confederation of Independent States (CIS). In early 1996, Newmont started operating the Minahasa Mine in Indonesia. In early 1997, Newmont began construction of a $1.9-billion project in Indonesia. The company is also completing a feasibility study with its partner for the development of a gold operation in Mexico. All of these projects have been considered "risky" by most standards. Newmont has been successful in all of them through risk mitigation programs. These programs include using strong and successful in-country partners, concentrating on developing a strong national workforce with minimal expatriate employees, using World Bank, European Bank for Reconstruction and Development (EBRD) and International Finance Corp. (IFC) financing and building and maintaining strong ties with host governments.

Jan 1, 1997

By B. Cavender

Investments in new technology are often intended to improve the production or cost performance of existing operations. The economics used to justify these projects can be flawed, however, if they do not adequately consider the potential benefits of the alternative: the fully optimized use of the facility's present equipment and personnel. While new technology can be effective, dramatic improvements in production performance can also be achieved through the rigorous application of standard industrial engineering and operations management practices. An intermediate approach may also be effective: many basic improvements in the mine or plant necessary to support new technology will be equally effective when implemented for the facility's present operators. Firms that optimize their present operations are able to save the capital and avoid the risk associated with new technology. These firms will also be able to capitalize more quickly on new technology when it is implemented.

Jan 1, 2000

By Stephen R. La Brooy, Tong Deng, Pritam Singh, David M. Muir, A. J. Monhemius, G. W. Warren, E. Peters

The controlled addition of ammonia to cyanide solutions inhibits the leaching of copper minerals but extracts up to 80% Au using as little as 10% of the cyanide compared with conventional cyanidation of copper-gold ores. The solubility of copper minerals and copper speciation in solution is dependent on NH3, CN-, pH and Eh. Rotating disc and electrochemical studies show that gold is leached by a mixed Cu-CN--NH3 complex with either Cu(II) or O2 as oxidant. This complex is slowly oxidised to CuCN and Cu(OH)2 by air.

Jan 1, 1993

By Y. J. Wang

The use of controlled recirculation began in the early 1930s. Although this method has been applied in many mines since then, a generalized comprehensive network analysis is still lacking. This paper presents a unique approach in which the ventilation network with a controlled district recirculation is divided into two subsystems: a main subsystem and a recirculation subsystem. The subsystems are analyzed individually, and the results and their relationships are then integrated into discussions of the total ventilation system. The analysis of the recirculation subsystem is facilitated by introducing a nondimensional parameter (A), which represents the ratio of the air quantity for the working face to that for the subsystem. As a result, far and regulator pressures and air power for various recirculation arrangements can be effectively expressed as a function of and the subsystem air quantity. Numerical examples are included.

Jan 1, 1997

A form of column flotation cell is described in which the contact between the feed and the air stream is made in a mixing device at the top of a vertical downcomer. The air-liquid mixture flows downward to discharge into a shallow pool of pulp in the bottom of a short cylindrical column. The bubbles disengage and rise to the top of the column to overflow into a concentrate launder, while the tails are discharged from the bottom of the vessel. The main advantages of the device described are that the overall height of the column is reduced to about 1 m (3 ft), and the column can be self-inducing with respect to the air supply. Experimental results are given from tests on a feed stream to a conventional zinc cleaner circuit. Using wash water to reduce gangue entrainment, the column gave high concentrate grades and high recoveries.

Jan 1, 1987

By Thys B. Johnson

This paper presents a new algorithm for solving the Controlled Flow Mine Ventilation Problem in an optimal manner - minimum power consumption. The use of booster fans and restrictions on the locations of ventilation regulators are dealt with in a straightforward manner. This new approach is based on a common Operations Research algorithm for which there are many fast computer programs available.

Jan 1, 1982

By B. Das, D. D. Mishra, M. I. Ansari

Experiments conducted with a 75-mm-diem hydroryclone have shown it is possible to obtain an iron ore concentrate containing 60% Fe. 2.65% SiO2, and 4.0% Al2O3 from Barsua iron-ore washing-plant slimes. About 60% of the iron values are recovered from slimes containing approximately 49% Fe, 8.9% A1203 and 11% SiO2. The obtained products can be used in the sinter feed for iron and steel making. The key to achieving process success lies in establishing the correct cut point (d50) of the hydrocyclone through the manipulation of operating and design variables, such as spigot and vortex finder diameter, solids concentration and operating pressure. The cyclone efficiency is represented by the partition curve. The cyclone performance, evaluated mathematically from the reduced efficiency curve, is represented by the equation Y = 100[1 -exp(-axb)], where: •X = did 50, •Y = corrected of efficiency (%) and •a and b are constants.

Jan 1, 1994

By K. Burke, G. Zhan, A. Mayer

A cover with capi1lary barrier effects (CCBE) is being constructed an the AA leach pad at the Barrick Goldstrike mine near Carlin, Nevada. The purpose of the cover is to eliminate/minimize infiltration of meteoric waters into the leach pad. Laboratory and numerical analyses indicate that Carlin Formation siltstone (TCS), a locally available material, has the necessary hydrologic characteristics when placed on the leach pad to act as a CCBE. A pilot study was conducted on a mall-scale test cover placed on the AA leach pad to examine the cover performance under irrigated conditions. The preliminary test results demonstrate that the designed cover is capable of preventing meteoric water infiltration.

Jan 1, 2002

By R. E. Weeks, D. J. Millenacker

Utilization of true in situ technologies for mining copper in Arizona will involve a complex environmental permitting process. This process is a key factor in determining the feasibility, costs, and implementing time- frames required for development of this innovative mining method. The regulatory structure in Arizona is presently changing due to enactment of the Environmental Quality Act (EQA) of 1986 and development of new aquifer protection rules and regulations. The US Bureau of Mines has reviewed the comprehensive hydrogeologic characterization, ground water monitoring, mechanical integrity testing, well construction, contingency planning, and other regulatory elements that will serve as mechanisms to assure protection of ground water resources. The purpose of this paper is to inform the domestic copper industry of the significance of the new Arizona regulatory structure and its implications for prospective in situ operators.

Jan 1, 1987

By G. J. Hodges

The Stillwater Mining Company, a partnership of Pittsburg & Midway Coal Mining Co. and Manville Corporation, operates a precious metals smelter at Columbus, Montana to further up-grade concentrates from its platinum/palladium mine. The smelter began operation in the summer of 1990. The gas cleaning system in the facility utilizes "oxidation/dilute mode" dual-alkali scrubbing technology to capture sulfur oxide gases from the process gas streams. This paper describes the rationale for selecting the dilute mode dual-alkali system and summarizes design parameters. Start-up problems and their solutions are also discussed.

Jan 1, 1992

The minerals industry contributes to the economic growth, prosperity and quality of life of nations, particularly in areas where there might be limited opportunities for employment in other sectors. However, notwithstanding their economic importance, the minerals extraction and processing industries are considered to have significant impacts on the surrounding environment. In recent years many mines have implemented modern monitoring technology and modelling of the monitored environmental parameters to provide scientifically proven indicators about the state of the environment. The flexibility required by the minerals industry to respond dynamically to a changing natural, social and economic environment has become a major consideration. Whilst the notion of continuous improvement is embodied within most environmental management systems, what is now required is a structured audit trail which tracks the flow of resources through the production process to the ultimate environmental impact associated with their consumption, transformation and disposal. Imperial College is coordinating an EC funded project, which is developing a methodology to minimise the ?full life-cycle? impact of metalliferous mining projects, adopting an integrated approach to production and process design, and the costs involved. In order to develop a life cycle assessment (LCA) system that will incorporate different types of data related to the minerals extraction operations, a data inventory was designed and coded in an object-relational database model. The calculation procedures accounting for the input/output balance of the alternative scenarios for mining production, processing, waste disposal, monitoring, and their financial implications are being programmed into a software system. This paper presents the rational and innovative aspects of this work. The methodology developed for the life cycle database is illustrated for the mining production and gaseous emissions components of the system.

Jan 1, 2003

By John H. Duke

The success of most attempts to evaluate gold orebodies depends largely on the reliability and availability of representative sampling data and the accuracy of geological interpretation. An accurate prediction of the continuity of geology is paramount to a reliable prediction of gold reserves. Many of the problems encountered in gold mine evaluation and planning revolve around the difficulties in interpreting complex geology from sparse drilling data and the eagerness of mine financiers and promoters to start mining in order to derive an early cash flow. Following a program of sampling, geophysics, mapping and geological interpretation, a conceptual orebody model evolves in the minds of those working on the project. It is this model which is used typically in ore reserve computations and mine planning. Computer modelling techniques to represent and evaluate the conceptual model are now available. The main advantages of using computer modelling methods lie in being able to rapidly evaluate, modify and quantify the conceptual orebody model. Ore zones or domains can be recognised and defined both from geology and sampling results. Once these domains are defined as a series of boundaries, they may be modelled as two dimensional grid surfaces or as wire-framed three dimensional geometries, depending on the complexity of the orebody. It is the definition of these domains which provides the sound geological basis for reserves computation. To estimate reserves it is necessary to determine both volume of ore and grade of ore. The ore volume is calculated within each domain as defined by the confining surfaces or wire-frames. The ore

Jan 1, 1987

By R. Poulin, R. C. Pakalnis

Approximately 51 % of all ore production in Canadian underground metal mines is derived directly from open-stope operations. This method requires that large excavations remain open until the ore is extracted with a minimum acceptable level of dilution. A survey of underground mines in 1988 reported that a major factor in their closure was uncontrolled dilution. It has been reported that 40% of openstope operations were experiencing dilution in excess of 20%. This level of dilution has significant implications on the economic viability of a project, especially when one considers that a rate of return on a positive project is generally between 10% and 20%. This paper reports on the various definitions of dilution, on the methods of stope design that are presently used with the objective of reducing dilution and on a recently available survey technique that enables dilution to be quantified.

Jan 1, 1996

By David A. Gulley

One of the advantages of the market¬place, economists believe, is that it automatically generates information which would otherwise be hard to come by. For example, supply and demand signals imply something about private and social sacrifices and benefits. This information is seldom perfect, and can neglect some costs and benefits, but it nevertheless is crucial data. Moreover, marketplaces can also eliminate the need for some information. For example; since market participants are voluntary actors, only those transactions are culminated in which a mutual gain occurs. This eliminates the need for some cost-benefit calculations. A corollary to this standard economic doctrine is that whenever a government or other party supplants a marketplace, it must generate some of the information either lost or newly-needed. (Schultze, 1977) In 1981, following a ten-year moratorium the United States government resumed leasing of publicly-owned coal. When the government designed this program, the goal was to guide the marketplace, rather than merely to respond, as a landlord, to the market's wishes. This goal has been modified somewhat, due both to the changing political climate and to the practical difficulties of implementing so ambitious an undertaking. Nevertheless, during this period of program design and implementation, part of the challenge of creating and using the necessary information fell to the professional modelling fraternity.

Jan 1, 1982

By Robert M. St. Louis, Janet M. Edgecombe

The Mercur Mine's autoclave is an alkaline pressure oxidation system, operating at 220°(428°F) and 3061 kPa (444 psig) (total). Up to 725 metric tons (800 st) of ore, grading 2.02 g per mt (0.059 oz/st) Au and containing 1 to 2% sulfide sulfur, are treated daily in this circuit. A mineralogical and chemical investigation was initiated to locate the cause of lower than anticipated gold recoveries. Greater than 70 wt. % of reduced sulfur is oxidized; therefore, the autoclave is operating at specification. The low recoveries were attributed to increased concentrations of organic carbon in refractory ore. Activated carbon concentration in the attached CIL circuit was increased from 15 to 40 g per 1, leach temperature held below 21°C (70°F), and carbon flow changed to counterflow. These measures resulted in gold recovery improving from 75 to 82%.

Jan 1, 1990

The Mining Foundation of the Southwest will hold its 15th annual American Mining Hall of Fame Awards banquet on Saturday, Dec. 6,1997 in Tucson, AZ, preceeding the Arizona Conference of SME. The Mining Foundation's Hall of Fame, located in Tucson, recognizes outstanding contributions to the mining industry by individuals and industry partners. A permanent display of honoree vitae is located at the Arizona Historical Society at 949 E. Second St. in Tucson. Each year, one living award recipient and up to two honorees from mining history are chosen by the Hall of Fame committee and the board of governors of the Mining Foundation. In 1989, the Mining Foundation also initiated a Medal of Merit to recognize outstanding individual technical and professional contributions to the mineral industry. And in 1995, an award was instituted to recognize contributions made by companies and organizations in partnership with the mining industry. This year's inductee is James R. Moffett, chairman and chief executive officer of Freeport-McMoRan Copper and Gold Inc. He will be present as guest of honor and featured speaker. The Hall of Fame will induct John V. Dorr, metallurgist and chemical engineer. Also inducted will be Frederick L. Ransome, a geologist. Medals of Merit will be awarded to Hugo T. Dummett, senior vice president, Exploration BHP Minerals, and Spencer R. Titley, professor in the Department of Geosciences at the University of Arizona. An Industry Partnership Award will be presented to the Colorado School of Mines for its continued support to the mining industry through education and research. The banquet will be held at the The Westin LaPaloma in Tucson beginning with cocktails at 6:30 p.m. Tickets are available from Clare A. Roscoe, manager, Mining Foundation of the Southwest, telephone 520-577-7519, fax 520-577-7073.

Jan 1, 1997

By A. Mehmet, W. A. M. te Riele

A pilot-plant investigation in a NIMCIX contactor has shown that activated carbon can extract more than 93% of the gold in return-dam solutions. The average gold concentration in the barren solution was less than 0.003 mg/L from a feed averaging 0.048 mg/L. The carbon was eluted by the Zadra procedure. The operating conditions of the elution-electrowinning circuit are reported, and the elution of the gold and other metals is discussed. The reactivation of the carbon by use of the Rintoul kiln is described, together with the results of reactivation. The consumption of reagents in the process cycle is presented in sufficient detail to allow the economic viability of this technique to he evaluated for the recovery of gold from low-grade solutions.

Jan 1, 1990

By Wang Yingmin, Xu Zhuyun

There are 3 steps in the process of forming a mine ventilation system, (1) selecting a reasonable ventilation pattern (included pit shaft arrangement); (2) optimizing of the ventilation network and (3) computing and outputting the flow splitting results of the network with the optimal ventilating equipments selected. In the past, the first step was relied on artificial decision-making. In order to design a common ventilation system, some ventilation experts were needed to participate or do some examinations. Even so, the design made was reasonable only for those experts. If there is a mistake in the first step, then even the followed 2 steps are best done, the losses are very difficult to retrieve. So that, the first step is very important. The development of expert systems provided an efficient means and tool for all engineering fields. This paper presents an expert system of selecting mine ventilation pattern and pit shaft arrangement. After testing many times, it is shown that the system can perform the first step of designing a mine ventilation system, and can help the experts doing their study works more efficiently.

Jan 1, 1991

By C. Haycocks

In spite of the increasingly high capital investment required for longwall mining equipment, there continues to be a steady trend towards this form of mining. This move is caused in large part by improved productivity of longwall mining systems combined with greater percentage of coal recovered over room and pillar mining, reduced manpower requirements, and the inherent safety of the system. Longwall mining is most amenable to the greater depths experienced by many mining operations, particularly in the coalfields of the Eastern United States. Two primary problems in the installation of a longwall panel are determining whether a particular seam is suitable for longwall and, secondly, type and capacity of equipment required for such a mining operation. In addition, recent legislation has forced an evaluation of the surface effects of longwall mining with a view to determining what, if any, surface damage might result from extracting any particular panel. These factors must be determined using large and often complex quantities of geological, structural, mining, and surface data. This makes the problem most attractive to solution using the computer.

Jan 1, 1979