Search Documents

By Schrade F. Radtke

THE law of our present industrial society is the law of the jungle. By this I mean survival of the fittest. I do not refer to man or animal or the development of superior genetic strain. Rather do I refer to one's product, one's process, or one's material of construction. Each must perform in a superior manner or it is doomed to extinction; it must be steadily improved so that it can meet the competition of ether materials, of other equipment, or other processes. We have before us the classic examples of the horse and buggy vs the automo-bile, cf silk vs nylon, of the steam locomotive vs the diesel engine; in each case, a superior product has virtually wiped out its predecessor. Furthermore, a product, process, or piece of equipment is sold on its performance, together with engineering data which define its •characteristics and performance. For the most part, the present day sales-man must deal in terms of engineering performance of his product; he must know competitive materials -their strength and limitations as well N either old fashioned salesmanship, tradition, nor custom could have saved the horse and buggy from extinction; a superior product which has been steadily and con-sistently improved won out, 'and in turn, this change-over caused a dramatic• change in our whole way of life.

Jan 1, 1960

By G. M. Scamans

In the past ten years there has been considerable penetration of aluminum automotive body sheet (ABS) into automotive structures. The exponential increase in demand is resulting in major investments in heat treatment and finishing capacity across the globe. Line speed and tonnage throughput is limited by the continuous heat treatment (CHT) floater furnace rather than the cleaning and pretreatment section where electrolytic treatments that offer higher line speeds should come into favour and roll coating of pretreatment should predominate. The capacity limiting surface texturing pass will either be eliminated or moved to the finishing line or a dedicated mill. The key to making aluminum both embedded carbon and cost competitive with steel for more and more affordable classes of vehicles lies in recycling of both prompt scrap and, in the longer term, end of life vehicle scrap. For the first time scrap separation technology is available that can compete effectively with hand sorting and can sort aluminum shredded vehicle scrap into wrought and cast alloys and then into individual alloy groups. The challenge is to use more end of life scrap in alloy formulation whilst at the same time extending the property range in terms of both strength and formability.

Jan 1, 2015

By G. M. Scamans

In the past ten years there has been considerable penetration of aluminum automotive body sheet (ABS) into automotive structures. The exponential increase in demand is resulting in major investments in heat treatment and finishing capacity across the globe. Line speed and tonnage throughput is limited by the continuous heat treatment (CHT) floater furnace rather than the cleaning and pretreatment section where electrolytic treatments that offer higher line speeds should come into favour and roll coating of pretreatment should predominate. The capacity limiting surface texturing pass will either be eliminated or moved to the finishing line or a dedicated mill. The key to making aluminum both embedded carbon and cost competitive with steel for more and more affordable classes of vehicles lies in recycling of both prompt scrap and, in the longer term, end of life vehicle scrap. For the first time scrap separation technology is available that can compete effectively with hand sorting and can sort aluminum shredded vehicle scrap into wrought and cast alloys and then into individual alloy groups. The challenge is to use more end of life scrap in alloy formulation whilst at the same time extending the property range in terms of both strength and formability.

Jan 1, 2015

By C. J. Edmonds

Of the gold mined in Canada over 90 percent is extracted from the ore by the process of "cyanidation". In this process crushed ore is treated with lime to provide "protective alkalinity" and cyanide, usually in the form of sodium cyanide. The gold is dissolved in the cyanide solution, which after further treatments for clarification, is precipitated by the addition of zinc dust. Wastes from the process consist of tailings which will contain cyanides. Water consumption, mill size, effluent quantity and quality are depicted in transparency (1). It should be noted that as far as the wastes are concerned it has been impossible to postulate a typical situation. Variation from the above data will occur. A summary of data from tailings pond effluents is presented in transparency (2). The figures in parentheses indicate the usual range of values for the parameter.

Jan 1, 1973

By P. Chu, J. A. Finch

The formation of small bubbles in flotation is usually accomplished by the use of frothers, or sometimes is due to the presence of inorganic salts in the process water. The effective mechanism associated with the presence of these solutes is generally considered to be coalescence inhibition. However, recent work has demonstrated that the presence of frothers and salts also reduces the size of bubble at the initial formation stage. In this paper we adapt the same experimental setup to investigate the time that it takes for a bubble to form; for a known system power input, the energy to form a bubble can then be estimated from the time. The hypothesis is that the presence of frother and salt will reduce the time for a bubble to form, which can be interpreted as an added energy component being derived from the solute. Testing different types and concentrations of frothers and salts, the hypothesis is supported: the mechanical energy required to form a bubble decreases by about 10% in the presence of these solutes.

Jan 1, 2015

By J. A. Cox, R. S. Mattson

"One of the main problems encountered in employing sublevel caving is the inherent high dilution factor. The operating results at Granduc illustrate that this dilution can be closely controlled and satisfactory recoveries achieved, in base metal ores grading less than 2.0% copper equivalent, by using an assay grade control system based on the fundamental draw characteristics. The history of draw control procedures employed since the start of operations provides an effective comparison between this system and one based mainly on tonnage. The transverse and longitudinal sublevel caving mining methods are described and it is shown how improvements in design layout, operating practice and draw control in narrow complex ore zones (12-foot minimum width) have raised the operating performance of the longitudinal system to a satisfactory level."

Jan 1, 1973

By C. Prévost, V. Leclerc, R. Pinto, M. Ruel

"A buffer’s ability to dampen production variations is directly related to its size. Small buffers cannot handle large variations in production, resulting in production losses when their inventory is depleted or saturated. This paper presents a predictive control algorithm used to regulate the inventory in a buffer of limited size, subject to large production variations caused by an upstream batch process. The algorithm was designed to manage the acid flow rates in an acid regeneration process, servicing batch leach reactors at Rio Tinto Fer et Titane, in Sorel-Tracy, Québec. The objective was to increase production by reducing equipment downtime caused by imbalances in the acid tanks servicing the leach reactors. The controller attempts to maintain acceptable acid tank volumes by optimizing the leach reactors acid/slag ratio and reaction time as a function of anticipated acid needs, all while maintaining product quality.INTRODUCTION Some beneficiation processes in extractive metallurgy require processing bulk material in batches. Typical examples of metallurgical beneficiation batch processes are smelting, leaching, electrowinning, elution and carbon-in-pulp. These processes are often situated midstream in an ore beneficiation flow sheet and either receive or transfer ore to continuous processes. Batch processes, by their very nature, introduce large variability in the flow sheet, because they process large finite quantities of material at nearly periodic time intervals. In order to dampen variations in production, various buffers–tanks and stockpiles–are utilized to accumulate ore upstream and downstream of batch processes. A buffer’s ability to dampen production variations is directly related to its size (Phillis & Gumede, 2011). Small buffers cannot handle large production variations, resulting in equipment downtime when their inventory is depleted or saturated (Everett, 2010, Berton et al., 2013). Consequently, the batch equipment production rates must be adequately managed to minimize production losses, attributed to depleted or saturated inventories, while maintaining product quality. Algorithms that anticipate or predict future production variations are often utilized to regulate buffer inventories, subject to large flow rate variations (Salvo et al., 2002; Bonvin, 2013). This paper presents a predictive control algorithm used to maintain an acceptable volume in a spent acid tank servicing several batch leach reactors. The algorithm is implemented at the acid leach plant of Rio Tinto Fer et Titane, in Sorel-Tracy, Québec."

Jan 1, 2017

By Peter Hayes, Evgueni Jak, Taufiq Hidayat, Gary O’Connell, Denis Shishin, Jeff Chen, Francis Letarte

"Knowledge of slag properties is required for the optimisation of smelting operations. The phase equilibria and viscosities of the Al2O3-CaO-FeO-Fe2O3-MgO-MnO-NiO-Cr2O3-SiO2 slags at conditions of interest to Koniambo Ni-laterite smelting operations have been investigated. High-temperature re-equilibration phase equilibrium experiments of industrial slags followed by rapid quenching and direct measurement of phase compositions using electron probe X-ray microanalysis (EPMA) have been undertaken in the olivine and pyroxene primary phase fields at temperatures between 1475 and 1600°C and SiO2/MgO weight ratios between 1.57 and 2.09. Phase equilibria predictions were performed using FactSage thermodynamic software. A slag viscosity model available in the FactSage thermodynamic package has been used to calculate the viscosities of the liquid slags. The Einstein-Roscoe equation combined with the predicted phase equilibria data have been used to estimate the viscosities of the slag slurries (slag + solids). The information provided can be used to assist in the evaluation of the furnace performance, to assess further optimisation of slag composition and to explore possibilities of targeted feed changes.INTRODUCTION One of the key steps in the production of ferronickel from nickel laterite ore at Koniambo Nickel SAS involves reduction and smelting of pre-dried nickel-bearing saprolitic ore (high Mg and Si) in an electric furnace at temperatures up to 1650°C. The characterisation of the slag properties as functions of key operational parameters, such as, temperature and composition, including liquidus, the proportions of solids and viscosity, is essential for improving control and optimisation of the operations. The slag produced in the smelting process is a complex oxide system with the major chemical components including Al2O3, CaO, Cr2O3, “FeO”, MgO, “MnO”, “NiO” and SiO2. Characterisation of these multi-component systems using a solely experimental approach becomes increasingly complex as the number of components is increased."

Jan 1, 2017

By A. Makinen

There is an increasing trend between increasing consumption of water and the production of metal concentrate. Along with this trend we see that ore grades are declining and getting more complex to concentrate around the world. This will not only complicate processing but also generate new requirements for the management of water and waste streams on mining sites. The mining industry is a large user of water and its water consumption is growing rapidly. The processing of lower quality ores requires greater volumes of water. For these reasons, the need for efficient use of water and water management at mine sites is becoming more urgent. The perception of water in the mining industry has changed from thinking about it only in terms of "water treatment" to actually seeing it as a valuable resource, a resource that needs proper management. This resource management needs to involve various aspects, such as optimizing water usage of the entire mine or concentrator site, minimizing fresh water usage, minimizing or eliminating waste generated in water treatment and implementing practices for water reuse and water recycling. This paper presents trends and new developments relating to waste and water management in the mining industry.

Jan 1, 2015

By R. Guimarães, L. Silva, J. Milboume

The São Bento concentrator was built by Gencor in 1985 to treat refractory gold-bearing flotation concentrate. The plant was the first commercial application of pressure oxidation for refractory gold ore following about a year after the first use of pressure oxidation on a whole ore at Homestake's McLaughlin operation in California. Ore from the Sao Bento mine is remarkably consistent in gold grade and arsenic and sulphide concentration as is typical in banded iron formations (BIF) (l). Gold content is approximately 9 g/t with approximately 30 - 40% free milling. The balance is associated with arsenopyrite and pyrrhotite. An expansion of both process facility and mine was undertaken between 1996 and 1998, raising the treatment capacity from 32,000 t/mo to 45,000 t/mo.

Jan 1, 2004

By P. Groleau, O. Tavchandjian, D. Marcotte

In open pit mining, each small mining unit (SMU) is selected for mill processing based on an estimate of its true grade. The estimation is usually done using analyses of cuttings from blast holes within that SMU. One common estimator used for selection is the arithmetic average of within-SMU samples. This estimator is conditionally biased. The effect of a conditional bias is to overestimate the profit really recovered from the deposit. For this reason, a conditionally unbiased estimator is preferable. Increasing the number of samples generally improves the accuracy of the estimation (and diminishes the conditional bias, if present, of most estimators). However, there exists a practical limit where an additional sample does not improve the estimation sufficiently to cover the expense of making the analysis. This limit is specific to each deposit and depends on geostatistical parameters, economic factors, and mining parameters. This study examines how the number of samples affects the recovered reserves and the resulting profit. Also, the effects on optimal profit of varying the different factors are examined. Globally, the number of samples required increases with the selectivity of the operation. For a given ore deposit, the greater the number of SMUs selected for processing, the fewer samples are required and vice-versa.

Jan 1, 1998

By V Dolmage

In 1957 and 1958, ten topographically suitable damsites were investigated along the Peace river between Finlay Forks and Hudson Hope, B.C. Of these, three were eliminated after a reconnaissance survey indicated that the geology was unsuitable for the 650-ft.-high dam contemplated. ?After extensive drilling, five other sites were deemed unfeasible because of geological factors and, in 1959, the two remaining sites were designated as being suitable, one for the high dam and the other for a low dam downstream. The sites are located in the Peace River canyon, on the west and the south? side of Portage mountain, west of Hudson Hope. The site for the large dam, the Portage Mountain dam, has since been investigated by surface mapping, thousands of feet of diamond drilling, a seismic survey, laboratory rock tests and on-site grouting tests in order to establish the possible effect on the dam of all facets of the foundation rocks. Three diversion tunnels, 50 ft. in diameter and 2,200 feet in length, have been driven through massive sandstone and shale, and an intake cut, 500 ft. in length, 200 feet in width and 200 feet in depth, has also been excavated in rock.

Jan 1, 1963

By A. Kapoor

Gold mill effluents contain toxic pollutants such as cyanide (CN), thiocyanate (CNS), ammonia (NH4-N), and a variety of toxic metals. Various practical and economical technologies are in use for the removal of CN and toxic metals from gold mill effluents, however, the removal of CNS and NH4-N is challenging. The presence of CNS and NH4-N may make effluents toxic to aquatic life. The new Canadian Metal Mining Effluent Regulations will require mine effluents to be nontoxic. As a result, there is a need to develop practical and economical technology for CNS and NH4-N removal. The Mine Effluents Program in the Environment Group is presently evaluating biotechnology processes for the removal of CNS and NH4-N from gold mill effluents. The processes being evaluated are attached growth systems such as a Rotating Biological Contactor (RBC) and completely mixed suspended growth systems such as a Sequencing Batch Reactor (SBR) operating in a batch mode. The research to date at MMSL has shown that the RBC is very effective in removing CNS and NH4-N from simulated effluents. The NH4-N removal project showed that the RBC is capable of removing 0.8 g NH4-N/m2 of RBC disk area per day at an average temperature of 4.5 oC and hydraulic loading rate of 0.02 m3/m2/d. The RBC was also found to be very effective in removing CNS (feed = 200 mg/L and effluent < 1 mg/L) at 8 oC and a hydraulic loading rate of 0.02 m3/m2/d. The SBR was effective in removing CNS and NH4-N (generated from CNS degradation) at SBR operating conditions of two-12 h treatment cycles and a temperature of 12 oC. The end product of CNS and NH4-N oxidation was NO3-N, which is relatively non-toxic.

Nov 1, 2002

By D. F. Zhang, X. Q. Jiang, N. Tahreen, D. L. Chen, F. S. Pan, D. Y. Li

Alloying with rare-earth elements has been proven to be an important tool for magnesium to achieve superior properties via texture randomization. The role of yttrium in texture weakening and the link between texture and formability are fairly well known. Since annealing is a vital part of metal processing which could significantly contribute to ductility, it is important to ascertain the impact of annealing in terms of texture change. Also, an understanding about texture development during pre- and post-deformation annealing is essential to improve the industrial deformation processing as texture is closely related to formability. While there is independent information in the literature regarding the effect of rare-earth addition and heat treatment on the texture formation, no systematic studies have been reported on the collective impact of yttrium addition, annealing and deformation on texture evolution. The present study was, therefore, aimed to identify the inter-relationship among texture evolution, yttrium content, heat treatment and deformation behavior in an extruded Mg-Zn-Mn-Y alloy. Annealing at 450°C for 1 hour and uniaxial compression tests at a certain amount of deformation were performed. The deformed and annealed samples were then subjected to annealing and compression test, respectively, followed by texture measurements. It was observed that yttrium addition effectively weakened the crystallographic texture in all conditions, which was evident from the changes in the microstructures and textures.

Jan 1, 2015

By S. E. Malouf, R. Hinse

"The Mineral possibilities of the Chibougamau area were first recognized by Richardson in 1870 and Low in 1885, both of the Geological Survey of Canada. The first record of interest by the Quebec Bureau of Mines is in 1904, when J. Obalski reported on the discovery of copper and asbestos by Peter McKenzie in the previous year. Reports of 1906 and 1907 covered the McKenzie Gold Mine find and other deposits. In 1908 Prof. Dulieux described the quartz vein on Merrill Island and the mineralized zone on the near-by mainland. In 1910 the Chibougamau Railway Commission, though commenting favourably on the possibilities of the area, concluded that a railway was not then warranted.In spite of this, prospecting in the district continued. The main Campbell Chibougamau deposit, the Blake showing on Merrill Island in Dore Lake, was found in 1920, and other discoveries were made soon after. Between 1927 the work of Mawdsley, Retty, and Norman tor the Geological Survey and the Quebec Bureau of Mines stimulated further interest. In 1934 Consolidated Chibougamau Goldfields Ltd., a subsidiary of Consolidated Mining and Smelting Co. of Canada Ltd., acquired the Merrill Island and Cedar Bay holdings of Chibougamau Prospectors Ltd. They embarked on an aggressive campaign, directed essentially at the gold quartz veins at Cedar Bay. Exploration there included a 522-foot shaft, 4,732 feet of drifts and crosscuts, and about 34,000 feet of surface and underground diamond drilling. Thirteen holes were also drilled on the replacement sulphide lens at Merrill Island. Operations were suspended in 1936, as the occurrence was too low grade for development at the existing metal prices and under difficult operating conditions.The completion of the Quebec Bureau of Mines highway from St. Felicien to Chibougamau in 1950 was followed by a project of detailed geological mapping by the Bureau. It also encouraged Campbell Chibou-gamau Mines to acquire the assets of Consolidated Chibougamau Gold-fields and commence a program of surface exploration. Between August 1950 and April 1951, 41,183 feet of diamond drilling was done on the Cedar Bay and Merrill Island holdings. The Blake showing off the west shore of Merrill Island developed at depth into a major orebody. A lease was obtained on adjacent ground from Merrill Island Corporation, and underground work commenced in November 1951. Development at Merrill Island to June 1st, 1955, included a four-compartment shaft to 1,225 feet, with 8 levels at 150-foot intervals, 5,317 feet of raises, 16,709 feet of drifts and crosscuts, 52,514 feet of surface and 96,593 feet of underground diamond drilling."

Jan 1, 1949

By L W. Morley

The Division is concerned with physical methods as applied to geo-logical research and mapping. An at-tempt is made to describe long-term goals, illustrated by examples of projects in the fields of aeromagnetic interpretation, palaeomagnetic re-search, Pleistocene and groundwater geophysics, seismic surveying, electromagnetic research and instrument development. Cooperative projects in surveys and research, with universities, private companies and provincial organizations, are frequently undertaken. An outstanding example of this is the recently approved Federal-Provincial Aeromagnetic Survey Plan, the purpose of which is discussed both from an economic and a scientific point of view. HISTORY OF THE DIVISION M AGNETIC, electrical, seismic and gravity methods, as a means of extending the geologist&apos;s sphere of observation beyond the head of his hammer, came into wide-spread use for the first time after World ?war I. Interest in these methods was aroused amongst geologists of the Geological Survey and, in 1928, a group of these geologists and university

Jan 1, 1963

By G. J. McTeer, D. L. Verhelst, D. J. Rioux

Teck Metals Ltd. operates an integrated zinc-lead complex at Trail, British Columbia, Canada. Since 1997, KIVCETTM flash smelting technology has been utilized for the treatment of zinc plant residues and lead concentrates. Trail Operations’ furnace uses four water-cooled jackets for bullion tapping. This paper provides an overview of KIVCET bullion tapping for the past 16 years, and discusses successes and challenges encountered with respect to operations, training and monitoring.

Jan 1, 2015

By G. A. Sutton

"At the San Manuel mine (Arizona, USA), in-situ copper leaching of a copper porphyry deposit was carried out from 1986 to 1999 during underground and open-pit mining. In 1993–1994, well¬field testing of the supergene zone, composed primarily of chrysocolla and copper-rich clay minerals, led to estimates that 52% of the acid-soluble copper (ASCu) could be recovered during in-situ leaching; however, the actual recovery from zone 6, which had the longest leach history, was approximately 42%. Comparing drillcore assay data from holes drilled before and after leaching also indicated an approximate recovery of 42%. The discrepancy between the predicted (52%) and actual (42%) recovery is probably related to several factors, including difficulty maintaining fluid saturation, channelling effects, and gypsum precipitation. ¦ KEYWORDS Copper oxides, in-situ leaching, Modelling, Porphyry, Solvent extraction and electrowinning (SXEW), Well-to-well RÉSUMÉ À la mine San Manuel (Arizona, États-Unis), on a procédé de 1986 à 1999 à la lixiviation in-situ de cuivre d’un gisement porphyre cuprifère pendant l’exploitation minière souterraine et à ciel ouvert. En 1993 et 1994, des essais effectués dans des champs de captage de la zone supergène, composée principalement de chrysocolle et de minéraux argileux cuprifères, ont abouti à des estimations selon lesquelles on peut récupérer 52 % de cuivre soluble dans l’acide (ASCu) pendant la lixiviation in-situ ; toutefois, la récupération réelle dans la zone 6, qui affiche l’histoire la plus ancienne en matière de lixiviation, était d’environ 42 %. La comparaison des données d’analyses de forage obtenues à partir de trous forés avant et après la lixiviation indiquait également une récupération approximative de 42 %. La différence entre la récupération prévue (52 %) et réelle (42 %) réside probablement dans plusieurs facteurs, notamment la difficulté à maintenir la saturation des fluides, les effets de canalisation et la précipitation du gypse. ¦ MOTS CLÉS d’un puits à l’autre, extraction par solvant et extraction électrolytique (SXEW), lixiviation in-situ, modélisation, oxydes de cuivre, porphyreINTRODUCTION in-situ copper leaching at the San Manuel mine, Arizona, USA (Figure 1), began in 1986. It was recognized that some of the copper oxide resource was not economically recoverable by conventional open-pit and heap leach methods using solvent extraction and electrowinning (SXEW) and a high stripping ratio would be required to access part of the resource. At the time, in-situ leaching was becoming popular in the uranium industry, but the approach was virtually unknown in the copper industry, especially at a large scale."

Jan 1, 2019

By T. G. Joseph, M. Bolster, M. Curley

"High tirerim loading on haul trucks operating on rough ground frequently manifests as mechanical separations and rim base cracking caused by cyclic fatigue. This paper provides an understanding of the impact of high loads on rim component life and tire footprint, bulge, and deformation behaviour; and develops a maintenance planning tool to predict strain implications of high g loading for a given rim location. Loading tests and analyses were conducted for a tirerim arrangement under increasing load and internal tire pressure. Graphical models were developed, allowing higher g load extrapolation predictions for specific rim components.KEYWORDS g load, Mining, Model, Prediction, Rim, Strain, Tire bulge, Tire footprint, Ultra-class vehicleRÉSUMÉ L’application d’un chargement élevé sur le système pneu/jante de camions de transport rou¬lant sur des terrains accidentés se manifeste fréquemment par des séparations mécaniques et une fissure à la base de la jante engendrée par une fatigue cyclique. Cet article nous permet de mieux comprendre l’incidence de l’application de charges élevées sur la durée de vie des composantes de la jante ainsi que sur l’empreinte, la hernie et le comportement de déformation des pneus. Il développe également un outil de planification de l’entretien visant à prévoir l’incidence des contraintes en cas d’application d’un chargement g élevé sur un endroit donné de la jante. Des essais et des analyses de la charge ont été effectués pour un agencement pneu/jante soumis à une charge et une pression interne du pneu croissantes. Des modèles graphiques ont été développés, ce qui a permis d’établir des prédictions sur la base d’une extrapolation du chargement g plus élevé appliqué à des composantes spécifiques de la jante.MOTS CLÉS charge g, contrainte, empreinte du pneu, exploitation minière, hernie du pneu, jante, modèle, prédiction, véhicule ultralourdINTRODUCTION The purpose of this paper is to report on a proposed and trialed tire performance test based on data obtained from controlled testing that is used to predict the impact of high g loading on hauler rims and tires with greater accuracy. For example, for many years oil sand mining operations have expressed qualitative beliefs that an impact load of the magnitude experienced by a rim and tire arrangement is not detrimental to a rim as a stiff component; however, mining equipment components are subjected to cyclic loading where failure can result from repeated load/unload activity, truncating the peak region of a stress–strain response and resulting in fatigue failure at a stress value that is less than the peak value. The outcome reported by oil sand haul truck maintenance groups indicates they have realized that most high g impacts—such as those experienced by hauler tires and rims operating on poor ground conditions—can result in failure due to cyclic loading, where higher loads require fewer cycles for failure. This high-level loading and the resulting strain transmitted to the rim is evident in the results of the laboratory testing presented in this paper."

Jan 1, 2019

By Craig Roberts

"While various methods are available to estimate a mining project's value, value is only established through a transaction. Comparable methods allow the value estimated for a mining project to be benchmarked against mining project values established in the market. Comparable methods thus are a key tool for ensuring value estimates are congruent with what the market would actually pay. For example, if the value estimated for a mining project using discounted cash flow analysis differs significantly from the value implied using comparable market methods, the valuator may be using metal price or discount rate assumptions that differ significantly from those the market is currently willing to pay for.The paper provides an overview of market comparable valuation approaches, and discusses some of the difficulties and limitations that arise in using these approaches. The types of market values that are typically utilised are discussed, including asset sale prices, share prices (market capitalisations), and values established in corporate mergers and acquisitions. Topics discussed include methods used in estimating a mining project's value based on the market value of the company that holds the asset, and limitations that arise because of unique features of mining projects and of companies that hold them.It is concluded that market comparable and fundamental (e.g. NPV) approaches to project valuation should not be viewed as alternative approaches to estimating project value, but rather can and should be integrated to derive a single value estimate based on both market andfandamental data. A method for integrating these approaches is discussed, and illustrated by example."

Jan 1, 2003