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The Buzwagi Project is owned by Barrick Gold Corporation and located in the Lake Victoria Goldfields of central Tanzania in the District of Kahama in the Region of Shinyanga. The property is 6 km Southeast of the town of Kahama, 3 km South and adjacent to the road between Nzega and Burundi. The Buzwagi property is 97 km South of Barrick?s Bulyanhulu Mine. There is access to the rail line which connects from Isaka to the Indian Ocean coastal ports of Dares Salaam and Tanga. The Feasibility Study and permitting were started in early 2006. Project Execution commenced in August 2007. Process Plant commissioning started in January 2009 and the first gold pour is scheduled for Q2 2009. The reserve has been established as 3.3M oz of gold plus 177M lbs of copper. The project has been developed to include a 30Mtpa Open Pit Mine and 4.4 Mtpa Process Plant. Over an expected 15 year mine life, Buzwagi is anticipated to produce approximately 3.02M oz of gold and 220,000 tonnes of copper concentrate. Infrastructure associated with the project includes a 107 km 220kV power line, site accommodation, water harvest and extensive security facilities. The project is expected to be built on budget and on time during a period of extreme market volatility. This paper reviews the initiatives taken to achieve community support, control cost escalation, maintain schedule and manage logistic challenges, plus ensure security and safety of all workers.

May 1, 2009

By P. Reyes

The Codelco Chile El Teniente Division Caletones Smelter has an objective to smelt 1,250,000 tonnes per year of copper concentrate. This is a great challenge for the smelter facilities and particularly for the acid plants. The analysis ensuring that there are no obstacles to achieve the production capacity was of great importance. Therefore a series of activities were undertaken as well as studies dedicated to reach the target. This paper presents work focused on a fluid dynamic study, translated in an operation methodology of integrated handling of the smelting and converting gases with the objective to optimize the gas flow and S02 concentration. The optimization should be done employing the current installations, equipment and instrumentation and/or minor modifications. In the first part of the work the condition of the instrumentation involved in the gas handling was checked, improvements determined and the corresponding corrective actions were carried out. The proposed operation method consists of operation of the Cleaning Gas Plant 2 (TC' s gases) and operation of Gas Cleaning Plant 1 (the remaining gas plus the gases from CPS). The implementation of the operation method involves the modification of the valve of the gas into the duct to plant 1 from On to Off to modulate flow. After modification a three days test was carried out. To evaluate the tests, a "Sulphur Capture" indicator was used. During the test the behaviour of the effluent treatment plants was closely examined. No problems or unusual operating conditions were observed. The reduced flow of gas to Gas Cleaning Plant No. 1 permitted the start up of the 2nd test day treating most of the gas received by Gas Cleaning Plant No. 2. The operation was carried out with the limitation not to increase the effluent pond level, which was maintained constant.

Jan 1, 2007

By Barton G. Stone

The mining and exploration industries have been using Geostatistics (Matheron, 1963) for the past forty years. It has been extensively incorporated into three dimensional block modeling software whose usage has reflected the growth in the use of personal computers since 1980. Because of the utility of geostatistical models in mining and production planning, much of the modern reserve and resource modeling is done by mining engineers, geostatisticians and geological engineers. Explorationists are initially less concerned with three dimensional models until such time as a deposit has been roughly delineated. However, the concept of regionalized variables in ore deposits deals with the effect of spatial correlations between data points in a three dimensional sample space and should be useful for optimizing the spacing of drill holes to allow maximum bang-for-the-buck in drilling programs. This paper examines three common deposit types (porphyry copper, VMS and intrusive gold) to examine whether geostatistical methods have been used to minimize drilling costs because of better understanding of spatial correlations. The three model types were chosen from publicly available corporate websites of Canadian based Junior Mining Companies. They include the Wolverine polymetallic zinc deposit of Yukon Zinc in Yukon, Canada; the El Morro Deposit in Chile (30 percent ownership by New Gold Mining Company, and the Fort Knox Gold deposit in Alaska and 50 percent ownership by Nova Gold Resources). Typically, individual mining corporations post their technical reports as CNI 43-101 reports on their corporate website as indications of the favorability or progress on their more exciting properties. Data considered for this paper was not collected or generated by the author, but the information was extracted from these publicly available sites and had a variety of authorship.

Oct 1, 2009

By J. C. Salas, A. Weishaupt, J. A. Guzman

The origins of the electrorefining process date back to 1869, when the first ER cathodes were produced at Pembrey, South Wales. By the time that Pembrey was closing, Chuquicamata tank house was under construction, initiating in 1915 a long history of electrolytic cathodes production. Initially electrowon cathodes and later electrorefined cathodes were produced. During the history of Chuquicamata tank house, there have been several challenges associated with the quality demanded for electrolytic copper. Among them, the transformation from electrowinning to electrorefining in 1952, the onset of the direct commercialization of ER cathodes and the phase out of wire bars in the 80s, several technological changes including the implementation of permanent cathodes, and certainly the constant increase in complexity of the anodes refined. This paper explores the manner in which Chuquicamata has addressed these challenges and examines its links to process characteristics, which have been necessary to maintain a product quality according to market requirements and a brand, “CCC”, that is widely recognized worldwide. INTRODUCTION Located in the north of Chile, in the Atacama Desert, Chuquicamata is an open pit copper mine that for many years has played a relevant role in the global and local mining industry. Known from prehispanic times, the Chuquicamata deposit was initially developed between 1912 and 1915 by the Chile Exploration Company, the operating company of the Chile Copper Company controlled by the Guggenheim Brothers in the USA (Yeatman, 1916). Officially inaugurated on May 18th, 1915, by the President of Chile who pressed a button in Santiago sending a telegraph signal to the power generation plant specially built in Tocopilla, 1500 km north. It signaled the beginning of generating energy, sending it to Chuquicamata, another 140 km east (“El mineral de Chuquicamata”, 1915), marking the beginning of its industrial operation.

Jan 1, 2019

By B. W. Steele

"Dofasco began operations in 1912 as a steel foundry located in Hamilton, Ontario. Today, Dofasco is a fully integrated mill that manufactures hot rolled, cold rolled, galvanized and tinplate steels. Customers include the automotive, construction, tubular, manufacturing, appliance, packaging and steel ser-vice centre industries. Raw steel production and purchased semi-finished steel processed in1994 was 3.5 million net tonnes. Dofasco employs 7300 people at its Hamilton facility.Environmental management at Dofasco is guided by its environment policy and associated commitments. This paper discusses Dofasco’s responsibility for its products as it relates to these commitments. Dofasco is com-mitted to:n the principles of sustainable development that require that activities be conducted in a manner that provides for the present without compromising the ability of future generations to meet their needs. These principles will be integrated into product design, manufacturing and business planning;n managing renewable and non-renewable resources through the responsible application of reduce, reuse, and recycle principles;n minimizing any potential impact of its operations and products on the environment, employees, customers and the community;n continuous improvement of the effectiveness and integrity of our environmental management systems;n developing understanding among all employees about their responsibilities, and assigning the necessary authority; andn meeting the standards set by relevant legislation and international agreements through participation with governments and the diligent application of economically feasible and scientifically sound methods and technologies."

Jan 1, 1996

By W. G. Robinson

"MINING is one of Canada's most important industries and exploration is the life-blood of this dynamic and exciting business. The health and growth of the mining industry of tomorrow depends on the effort and thought that go into exploration today. The Members of the Geology Division of the C.I.M. are directly concerned with exploration, and it is fitting that this Division should periodically sponsor reviews of the thoughts and practices of the exploration com-munity. Accordingly, we have invited seven leading authorities to contribute papers dealing with specialized aspects of this field.Exploration is a science, or art if you will, that is constantly changing in keeping with our expanding knowledge of geology and technology. It started with the old-time prospectors who searched the wilds for exposures of ore, and made finds that developed into some of our most important mining camps. As more discoveries were made, they were able to relate certain types of deposits with particular geological conditions, laying the foundation for modern concepts of economic geology. The mapping by the early field parties lacked detail and usually served to outline the ""greenstone"" areas considered favourable for prospecting. More de-tailed studies through the years by government and company geologists led to new thoughts on the origin, emplacement and geological control of orebodies. The continuing diversity of opinion on these subjects indicates a need for further research, but each year sees an increase in our reserves of factual information."

Jan 1, 1967

By A. S. Knight

THE breaking and handling of ore is obviously the most important consideration when the layout of a new mine is contemplated. The problem must be attacked with due regard to the claim area of the property, the dip of the orebody, the anticipated percentage of payability, the width of the reef, and the amount of dislocation anticipated by dykes, faults, or sills. Among these, as far as East Geduld is concerned, the three most important items are: Area. 2,640.5 claims. Average dip 12° (from flat to 35°) Average channel width 36 inches. We are fortunate on the Witwatersrand in 'chat there is usually sufficient information available from surrounding properties to determine, within narrow limits, the factors mentioned above. With this information avail-able, the choice of layout is not limited, and it will be found that on the Witwatersrand each group has developed its own technique to suit its individual requirements. On East Geduld, the layout of the property for handling ore is known as the endless-rope haulage system. Following is a brief description of the general principles followed.

Jan 1, 1942

By E. A. G. Colls

PART I.-GASES IN INDUSTRY INTRODUCTION THE part played by gases in industry can be considered from at least four distinct viewpoints, viz: (1) As air to support combustion and life and do various kinds of work (2) As fuel, or as essential to certain chemical processes (3) As sources of danger from explosion or fire ( 4) As hazards to man's health The present paper deals with gases only insofar as they are sources of danger, or are hazards to health. It may be noted, however, that, in point of tonnage, air is one of the most important materials handled in any industrial plant. In the operations of the Consolidated Mining and Smelting Company, for example, 138,000 tons of air are handled daily, the only material exceeding this figure being water. The United States Bureau of Mines has listed no fewer than seventy-four gases and vapours that, under certain conditions, may be considered as ex-plosive or dangerous (poisonous). The commonest and most important of these are as follows : Carbon monoxide Methane Acetylene Hydrogen Oxygen Hydrogen sulphide Benzol vapour Ammonia Petroleum vapour Carbon disulphide Hydrochloric acid gas Cyanogen Carbon oxysulphide Chlorine ` Fluorine (and fluorides) Acetone vapour Acetic acid vapour Water gas Natural gas Gasoline vapour Coal gas Producer gas Ether vapour Nitrogen oxides

Jan 1, 1940

By J. E. Hawley

"The Aldermac copper deposit is in Beauchastel township, Abitibi county, Quebec. It lies about 11 miles west of Noranda. It has been described by Cooke, James, and Mawdsley(2) and by Bruce(3) and has been mapped in detail by W. Samuel and the late K. W. Fritzsche, former Mine Geologist, and by J . E. Gill and A. R. Byers, so that most of the particulars contained in the description that follows are largely the result of the work of others than the writer, whose connection with the deposit, in a consulting capacity, extended over the last 5 years of the life of the mine.According to A. V. Corlett, former Mine Manager, the property was staked during the early winter months of 1923 because of its location adjacent to the syenite intrusive that had been mapped by Cooke near the height-of-land in this township. An examination by Mr. Corlett in 1924 revealed mineralized zones to the north of MacKay lake, and in the vicinity of these K. W. Fritzsche, by dip needle and trenching, discovered the No. 1 and No. 2 deposits, which were both too small and too low grade for exploitation. During the winter of 1925, A. A. MacKay, with a dip needle, picked up a magnetic 'anomaly' in a drift-covered area about 600 feet to the north of previous workings. Trenching here revealed only a narrow zone of mineralization of little consequence, but, farther east, MacKay discovered a more pronounced 'anomaly' over what later drilling and underground work proved to be ore of commercial grade (No. 3 and No. 4 orebodies)."

Jan 1, 1954

By Karl J. C. Harries

"6.1. INTRODUCTIONThis chapter comments on some of the more common types of agreements related to property examination and acquisition, other than the farm-in/joint venture agreement or common undertaking, which is dealt with in the next two chapters. Many of the comments made in Part IV of Chapter 4 apply equally to any such agreement. In addition, many of the comments in Chapter 8 and the examples in Volume II are most certainly relevant to many other types of agreement.6.2. RIGHTS OF FIRST REFUSAL1A right of first refusal is a right that obligates an owner to offer his property, or an interest therein, to the holder of the first right if the owner intends to sell or otherwise dispose of it. It may be triggered either by the owner wishing to offer his property for sale or by receipt of a bona fide offer to purchase his interest from an “outside” third party. The mechanics and procedures to implement a first right should be set out clearly in the agreement, and their basics are the same, whether the first right is a stand-alone document or is part of an acquisition agreement.2Rights of first refusal are common in agreements to permit some control over the disposition of an interest and there they can be a valuable provision. However, some explorationists feel that they are also a good stand-alone agreement to have while a property is being evaluated to decide whether or not it is worth optioning. The reasoning is that such an arrangement will tie up the property to allow a quick look and, if the property looks interesting, the balance of the term of the first right will give an ample exclusive period of time to negotiate with the owner and settle an acquisition agreement. In addition, the explorationist is protected by the first right if the owner decides to negotiate a deal with another party."

Jan 1, 2003

By Karl J. C. Harries

"7.1. INTRODUCTIONThis chapter addresses the joint venture and examines a number of general concepts of the joint venture relationship. Chapter 8 looks at some specific concepts related to the provisions of a joint venture agreement, which are equally applicable to a shareholders’ agreement or other contractual relationship. The term “joint venture” is used because the author is a common law solicitor (a matter of convenience for which apologies are offered to civil law readers), but it should be noted that, in many aspects, the legal structure of an entity is irrelevant. It is the relationship of the parties, be they venturers or shareholders, that is important, and the areas of concern are surprisingly similar (except for terminology).The details of the joint venture relationship and agreement could fill several books. Accordingly, this chapter and the next focus on selected topics that appear to have caused problems or confusion or to be the basis for disputes. And remember that, although the following discussion is in the context of a joint venture, many of the comments apply, either directly or indirectly, to virtually any common undertaking and the agreement defining it.For interest’s sake, this chapter starts with a summary of some of the earlier types of agreements and arrangements that have evolved into the joint venture agreement of today in Canada, the philosophy of their format, and the reasons for their demise.7.2. EVOLUTION OF THE CANADIAN JOINT VENTUREThe Early DaysMuch of the opening up of Canada’s north is due to exploration for and development of mines. The early discoverers were relatively free to roam and explore at will and, if they were fortunate enough to find something, they dealt with the appropriate government to acquire exploitation rights. The early interests lay in gold or silver. Workings were small, usually worked by the owner alone or with only a couple of helpers to extract the native gold or silver. If the owner wanted to move on, he could sell his property outright and use his stake to look elsewhere.As logging and mining camps were opened, the development of better roads and railways made access easier. Entrepreneurs saw the opportunity to make money by assembling large parcels of land and working them as a single operation. In order to do this, some owners who were not ready to sell out had to be convinced to do so through more attractive offers"

Jan 1, 2003

By N. Saracoglu, J. P. Golightly, R. H. Wallis, J. J. Brummer

"The McClean uranium deposits are located 11 km west northwest of the Rabbit Lake Mine. Their average grade is 1.8 % U3O8 , and they contain 6. 350 tonnes of uranium oxide in seven pods of variable grade and mineral assemblage. They are hosted by both basal Athabasca Group and the regolith developed on the underlying crystalline basement. The major mineral facies are: sulphide, arsenide, 'bleached', and hematite, with the important uranium minerals being coffinite, uraninite and pitchblende. Abundances of carbon and sulphur isotopes are consistent with their derivation from pyritic graphite in basement gneisses. Isotopes of oxygen and hydrogen suggest equilibration at temperatures of about 200°C. Ar39/ Ar40 age determination of illite associated with ore suggest mineralization began about 1300 m.y. ago and that significant alteration had ceased by about 1170 m.y. ago though Pb/ U data suggest the deposits continued to evolve into the Mesozoic.IntroductionThe McClean deposits lie on the eastern side of the Athabasca Basin of northern Saskatchewan where they are part of a cluster of uranium deposits lying west of Wollaston Lake (Fig. 1). The general stratigraphy is schematically portrayed in Figure 2 which emphasizes that mineralization is hosted by both the Athabasca Group and the underlying regolith and also that the deposits are preserved at depth and have not suffered from preand post-Pleistocene weathering and erosion. This circumstance, combined with their simple shape and the presence of seven separate zones of mineralization (pods) allows a description, based on over 450 fully cored drill holes, to be made of the wide variation in chemistry, grade, alteration patterns and position relative to the sub-Athabasca Group unconformity. Ar39 / Ar40 age determinations have been made of illites associated with regolith, Athabasca Group and mineralization and studies are in progress on C, S, 0 and H isotopes of mineralized material and host rocks. Only some of these data have been published; Brummer et al., (1981); Golightly et al., (1982); Bray et al., (1982); and Saracoglu et al., (1983). The only other published data on McClean geology are by Tremblay (1982, 1983)."

Jan 1, 1986

By P. C. Richards

"Future Integrated Gasification Combined Cycle (IGCC) power plants will have superior environmental performance and unmatched efficiency.The Shell Coal Gasification Process (SCGP) is a clean coal technology, which can convert a wide range of coals into clean syngas for high efficiency electricity generation in an IGCC plant. SCGP flexibility has been demonstrated for feeds ranging from bituminous coals to lignites and petroleum coke, and the process is ideally suited for combined cycle power generation, resulting in efficiencies of 42% to 46% (LHV).In the Netherlands, a 250 MWe coal gasification combined cycle plant based on Shell technology is being built by Demkolec, a development partnership of the Dutch Electricity Generating Board (N. V. Sep). The plant is scheduled to start up in 1993. IntroductionBasic ConceptShell's experience with gasification dates back to the 1950s, when the first Shell Gasification Process was commissioned with oil as feedstock. There are now over 140 SGP gasifiers licensed. The experience gained on oil gasification provided a firm theoretical and practical base for the start of coal gasification process development in 1972.At that time, there were serious concerns about the future availability and price of crude oil. Coal gasification (making carbon monoxide and hydrogen by the partial oxidation of coal) was considered to be an important option for refinery applications, because the synthesis gas (syngas) produced can be used as:• a chemical feedstock for making transportation fuels and chemicals;• a source of hydrogen (making use of the water gas shift reaction) for upgrading petroleum products; and• a fuel for heating process streams and/or generating electricity."

Jan 1, 1994

By T. R. Bieler

"Hot forming and superplasticity in powder metallurgy aluminum alloys and composites is reviewed. The effects of alloy composition, particulate composition, size, and size distribution is summarized. The role of climb distance for recovery is described in connection with the size of strengthening phases. In materials with fine strengthening phases on the order of one micron or less, high strain rate superplastic deformation processes are likely. However, the quality of superplastic deformation depends on the prior processing history, and these effects are reviewed. Very few data describing the effects of hot forming history on post-forming properties exist, but some results emerging in the literature are compared.IntroductionHot deformation in aluminum based materials is done for several technological purposes, such as thermomechanical processing to alter mechanical properties of simple forms, and/or final shaping operations to produce a complex shaped part by means of extrusion, forging, or superplastic forming. In the interest of improving the mechanical properties of aluminum based materials, two microstructural design strategies are commonly used, dispersion strengthening, and composite strengthening. The introduction of fine, stable dispersions is commonly done for high temperature strength, and the dispersions are typically ceramic particles in the range of 10 nm to 1000 nm in volume fractions around 5 vol.% (Higashi et al., 1990; 1991a; 1991b; 1992; Bieler and Mukherjee, 1990; Otsuka et al., 1987; Bieler et al., 1991; Oliver and Nix, 1982). Alternatively, composite strengthening strategies using 10-40 v% of 3 µm to 40 µm ceramic particles provide high modulus and high strength aluminum based materials (Midling and Grong, 1995; Lloyd, 1994; Subramanian et al., 1995)."

Jan 1, 1997

By D. W. McDonald

Coal mining and railway transportation are so closely en-twined and so dependent one upon the other that the failure of one would mean the total collapse of the other. With this indisputable fact in mind, there is no doubt that the operator of each is deeply interested in the other's success. Railway transportation began at the mouth of a coal mine. The first railway car was the English coal-wagon, a crude box on four wooden trowlets, running on wooden rails and holding 1,600 pounds. This was operated by gravity or horse-power in England to convey coal from the mines to the rivers. The first coal-cars used on Nova Scotia railways were of 4 tons capacity with side doors and "V" shaped centres. Then followed flat-bottom, 4-ton cars that operated on tipples, the car bei.ng held in tipple by a chain passing over the top and fastened on either side. Next came the 6-ton car with drop-bottoms, then the 10, 15, 30-ton cars, and now the modern 50 and 100-ton steel cars, equipped with automatic couplers, brakes, and rachet dumping device. Contrast the first coal-car with a modern luxurious pull-man or a I 00-ton coal and ore car, and you have a record of progress in railway transportation. The development of the steam locomotive was no doubt the greatest factor in this progress, but let us not forget that the foundation of all industrial development was and is coal. and that development in mining and railway transportation should keep abreast.

Jan 1, 1924

By Richard R. Klimpel

"This paper discusses the effect of water chemistry, reagent type, and other environmental factors on the performance of sulfide mineral size reduction and froth flotation processes. Two specific problems will be discussed: l.) the importance of appropriately utilizing the electrochemical window that is created in the grinding process to enhance sulfide mineral recovery by froth flotation; and 2) the impact of steel grinding media versus autogenous grinding on the efficiency of sulfide mineral flotation with varying thiol collectors and water sources.IntroductionThe mutual dependency between size reduction and mineral froth flotation is well recognized from the viewpoint of particle size and mineral liberation characteristics. The purpose of this paper is to discuss two less obvious industrial interactions between size reduction and froth flotation that have come up in the various plant optimization studies conducted by this author. These interactions are complex but appear to be important at the industrial level as plant throughput is directly affected, either positively or negatively by such interactions. Examples v.ill be given on how the method of grinding influences flotation and how different water sources influence the flotation behavior of electrochemically sensitive minerals. With each of these interactions, a number of fundamental research studies have shown previously that some effects can be measured under idealized and very small scale experiments. Such research studies will not be cataloged or exhaustingly reviewed in this paper. Whether these same types of effects can be measured in an industrial environment and are economically important is much less certain. This paper will present some rather unique experiences gained from larger scale test experiences which clearly indicate findings that plant operators should be aware of."

Jan 1, 1996

By Cesar H. Oboni

The development of specific risk-based methodologies to guide and prioritize clearing decisions in countries contaminated by Unexploded Ordnance and Land Mines (generically defined as Explosive Remnants of War: ERW) either at country-wide scale or road-network-scale was used in an unexpected way when a large mining company asked Riskope (www.riskope.com) to develop a multi-modal transportation network risk assessment plan, which included ocean going vessels, ports, wharves, railroad, trucking and other modes of transportation. What had been a first-in-the-world attempt in the humanitarian landmine clearing industry turned out to be extremely useful and equally innovative in the extractive corporate world. Instead of a country contaminated by man-made hazards such as Explosive Remnants of War (ERW) we were now dealing with a very complex multi-modal transportation system afflicted by all sorts of potential hazards from quakes to climate change, sabotage to labour strikes, and vulnerable infrastructures to potential energy crises. Interestingly enough the method developed to deal with ERW risk based clearing was also capable of solving the transportation risk evaluation problem, after necessary customization. This paper shows how ?out of the box? thinking and industry cross dissemination can bring significant evolution and a competitive edge even to unexpected areas of the world-wide mining industry. The results of the logistic system risk assessment shed new light on the management of the system, changed the way insurance coverage was purchased, and led to significant potential cost reductions in a period of global recession.

May 1, 2010

By Fathi Habashi

Extraction by organic solvents is a chemical process in which metal species in the aqueous phase react with an organic reagent to form an organometallic com- plex, thus, the metal species leave the aqueous phase and enter the organic phase from which it can be stripped back in the aqueous phase to obtain a pure and a concentrated solution. The metal in the organic phase is not bound to carbon atoms as in organometallic compounds but to oxygen, nitrogen, sulphur, or hydrogen by a co-ordination (dative) bond (Habashi, 1999).Solvent extraction was used for the first time in hydrometallurgy in connec- tion with the special and urgent materials requirements of nuclear energy during World War II. A plant was constructed in the United States for the preparation of high-purity uranyl nitrate solution. In this plant, the yellow cake (a high-grade sodium or ammonium uranate) was dis- solved in HNO,, and uranium was selec- tively extracted by ether then stripped by water to give a concentrated solution of pure uranyl nitrate. This was gradually followed by developing methods for other high-priced metals such as plutonium, thorium, niobium, tantalum, zirconium, hafnium, boron, beryllium, and molybde num. The second step took place in the 1960s when solvent extraction was applied for the first time to extract a rela- tively cheap metal-copper. At present, solvent extraction technology is wide- spread, well accepted, and highly efficient. Solvent extraction had its origin in the discovery, by Christian Friedrich Bucholz (1770-1818) in 1805, that uranyl

Sep 1, 1999

By E. Tulcanaza

Mining companies normally establish exploration and research programs originated with actions in embryonic stage. At their early stages of development, these exploration and technological activities are subject to uncertainties that need, first, to be resolved, deciphered or, at least, mitigated for information reporting; and later, for valuation reporting. Under these circumstances, these exploration activities follow a sequence of development phases that range from exploration work to the profile, conceptual, and finally to basic engineering phases and construction. For information reporting, the International Template for Reporting of Exploration Results, Mineral Resources and Mineral Reserves integrates the minimum standards being adopted by the relevant professional bodies in Australia, Canada, South Africa, Chile, USA, UK, Ireland, and other European countries which set up the Committee for Mineral Reserves International Reporting Standards (CRIRSCO, www.crirsco.com). These standards are based on the progressive collection of relevant information to reduce present and future uncertainties over time under a context of transparency, materiality, and technical competence. For valuation reporting several procedures have been disclosed and applied. However, in the last decades financial instruments such as real options, decision analysis, and games theory have developed into a niche of great potential for mine valuation applications. The objective of this paper is to provide a summary of the information reporting standards prepared by the Chilean National Commission for the Qualification of Competent Persons in Mineral Resources and Mineral Reserves and show a procedure and an application of real options to the valuation of the sequential development phases of a mine asset from the exploration stage through up to full development.

Jan 1, 2007

By P. C. Patnaik

Performance of industrial gas turbine engines in terms of power output, reduced cooling and efficiency have been continuously increasing in parallel with aero gas turbines due to the advances made in the development of new materials, protective thermal barrier coatings (TBCs) and the advanced diagnostics to monitor service induced problems such as hot corrosion, thermal and thermo-mechanical fatigue and other operational issues, Environmental attack (hot corrosion or high temperature oxidation) is a common degradation mode in the hot section of the gas turbine, Hot corrosion occurs when Na or K bearing compounds in the environment or in the fuel combine with other contaminants such as S and Pb or V to form corrosive sulphates or vanadates thus attacking the protective oxide on the turbine airfoil, These problems pose far more threat to new turbine engine materials such as directional solidified, single crystals and ceramic matrix composites (CMCs). The CMCs due to their increased temperature capability, when used in the combustion chamber, are likely to reduce the peak temperatures attained during combustion and therefore provide the benefits of reduced emissions of oxides of C and N, These issues will be reviewed critically and their impact will be assessed on gas turbine lives. With respect to alternate fuels, past experience has shown that utilization of residual oils and coal derived fuels in gas turbines have resulted in complex deposition and corrosion processes, In recent years biomass derived alternate fuels have been used either through a gasification cycle or through direct firing of the biomass derived liquid fuel with a view to reduce Green House Gases (GHGs) and improve the climatic conditions. In both cases, the resulting high temperature corrosion processes (in the presence of alkaloids in the fuel) are also very complex, leading to premature removal of hot section components, Technology solutions mitigating these fundamental problems will be reviewed and solutions presented.

Jan 1, 2005