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By B. J. Jody

This paper describes a one-step thennal-treatment process, developed at Argonne National Laboratory, to remove all organic contaminants from the glass-fiber waste that is generated during the glass-fonning process. The recovcred glass fibers can then be recycled into new glass fibers or new glass products without adversely impacting the operations of the glass industry or the quality of its products. Our process involves shredding the waste to a manageable size and then processing it at temperatures below its melting point to remove the polymeric-coating layer. The glass industry generates more than 60,000 tons of glass-manufacturing waste annually in the glass-forming process alone. Recycling of this waste stream can keep this non-biodegradable waste out of the landfills. In addition, use of recycled glass lowers energy costs, by an average of about $5 per ton as compared to using virgin raw materials to make virgin glass fibers. This process will also reduce the emission of C02 by 17,400 tons a year and it will also reduce the emission of nitrogen oxides. Economic analysis of our process shows a potential payback of less than 2 years.

Jan 1, 2003

By Karl J. C. Harries

13.1. RIGHT TO RECEIVE ROYALTY CONTRACTUAL ONLY1

Jan 1, 2003

By Steven R. Izatt

IBC Advanced Technologies, Inc. (IBC) has developed a mercury selective product, which can be used by sulfuric acid producers as either a polisher, or as the primary technology for mercury removal from sulfuric acid. The Molecular Recognition Technology (MRT) separations material selectively binds Hg2+, and to a lesser extent Hg+, out of concentrated sulfuric acid. Mercury output levels of less than 0.1 ppm can be attained by the MRT system. Pilot plant tests have been successfully conducted at base metal smelting operations. A large-scale commercial plant is due for commissioning in 2003. Results from these projects will be discussed.

Jan 1, 2003

By Moto Goto

Today, Pierce-Smith converters, coupled together with various types of smelting units, are used in most of the world's smelters. However, due to the "batch" processing nature, and problems associated with fugitive emissions during the transfer of melt and blowing stages, this arrangement will unlikely be adopted in future smelters. Modern day alternative processes include the Mitsubishi Process, Outokumpu Flash Smelting and Flash Converting Process, the Noranda Process, and the Ausmelt Process, but only the Mitsubishi Process is a "truly continuous" smelting and converting operation, producing a constant flow of blister without tapping, and is economically proven by long term commercial operations. This paper reviews recent advances in modern continuous converting technologies, with a special section devoted to operation of the "first standalone Mitsubishi C-furnace" coupled together with a Noranda Reactor, at Port Kembla Copper Pty. Ltd. in Australia.

Jan 1, 2003

By Karl J. C. Harries

"2.1. INTRODUCTIONNo agreement can be perfect in the sense that it contemplates and provides for all eventualities. Mineral acquisition agreements are usually negotiated and drafted at a time when an orebody is no more than a gleam in a geologist’s eye, so it is hardly possible to provide for development and operation in other than the most general terms. However, an agreement that stops short of contemplating the possibility of an orebody and production is ill-advised. Accordingly, it is important to provide procedures to make decisions that will let the project proceed, even in the face of a fallingout between parties. Whether the parties are shareholders in a corporation or venturers in a contractual common undertaking like a joint venture, differences of opinion and disputes will occur. Unfortunately, more and more are ending up before the courts. Besides greed and the growing tendency in society to fight rather than talk, there are other factors that contribute to the increase of litigation. In some jurisdictions, agreements have tended to become complicated, often defying interpretation, even by a lawyer, and explorationists want their budgets to go into the ground as constructive work rather than into a lawyer’s pocket. All this has led to a growing tendency for corporations to take the attitude that the chances of finding a mine are, at best, marginal and there are lots of earlier agreements in the files to draw from, so why not prepare their own agreements? As discussed in the preceding chapter, this can be folly. All these factors can quickly have parties facing each other in court while a project sits idle. Added to this is the problem that, in some jurisdictions, lawyers may take cases on a contingency-fee basis, sometimes promoting the pursuit of a nebulous claim.When an orebody is discovered, someone will always want some, or more, for himself. There is a breed of “prospectors” who prospect for legal actions, on the somewhat sound grounds that a major corporation will buy off nuisance litigation, rather than incurring the cost and effort of attacking even a poorly founded claim in the courts. They may even find a winner. Besides, it is far more comfortable and relaxing to prospect for problems and legal niceties than to prospect for an orebody.1 In short, it is appropriate to consider briefly some of the factors relating to lawsuits and judgments. Although many of the comments are made in the context of the common law and the Canadian legal system, most of the concepts and suggestions are applicable to any legal system."

Jan 1, 2003

By E. V. Manlapig, M. C. Harris

"The complexity of the flotation process has made the identification of an appropriate model structure, for use in the prediction of flotation circuit performance, far from obvious. Work performed under the auspices of the AMIRA P9 flotation program has indicated that the metallurgical performance achieved from a flotation cell arises from the interaction of two essentially independent property classes, namely the cell operating conditions and the properties of the cell feed stream. These observations have led to the development of a model structure that associates a constant set of flotation parameters to the streams of the circuit, which are transformed into a flotation response depending on the operating conditions within the flotation cell.A variety of alternative model structures exist within the literature which do not make this distinction between cell and stream flotation properties, and many of these models are in widespread use for flotation optimisation and design studies, both in industry and academia.In this paper, data collected from an industrial flotation circuit is used to derive the parameters associated with two different types of flotation models. Simulations performed using these models demonstrate the need to differentiate between cell and feed properties. A model that does not differentiate between these two properties fails to successfully predict the metallurgical performance of a flotation circuit after a disturbance."

Jan 1, 2003

By Karl J. C. Harries

"5.1. INTRODUCTIONThis chapter is intended as a general overview of the subject of royalties between private parties – royalties extracted by governments are not dealt with. This same subject is covered in detail in Volume II, which critiques many sample provisions taken from agreements, giving both pros and cons. If you find something that interests you in this chapter, check Volume II for extra information. Detailed cross-referencing to Volume II has not been attempted, however, most subjects mentioned in this Chapter will also appear in Volume II, usually in greater detail. Reference should be made to the Index.A Brief History of Royalties1In the early days of mining in Canada, the tendency was to sell a claim for cash and to move on, using the stake to look for and stake more prospects. As prospectors became more sophisticated and Canada’s North opened up, the market for properties and the number of mining properties available increased dramatically. Speculation and the practice of consolidating several small properties into one large holding entity became common. In “hot” areas, the speculators2 could far outnumber the prospectors, many of the former having little or no prospecting expertise but lots of market and promotional savvy. However, to consolidate a number of small parcels into one large project can be expensive, and many of the parcel owners became interested in keeping a share in the project, rather than giving up everything. Speculators who were trying to consolidate small parcels wanted to minimize cash payments to parcel holders (usually they did not have much cash and preferred it flowing in their direction rather than away from them). Accordingly, non-cash transactions were developed to meet the aspirations of both owners and speculators."

Jan 1, 2003

By G. T. Lineberry, C. M. Baird, D. L. Silverstein

The University of Kentucky (UK), with an enrollment of 25,891 in fall 2002, is a comprehensive, public land-grant university located in the Bluegrass Region of Central Kentucky. As the State’s flagship university, UK has long been involved in distance education, first through traditional correspondence courses, followed by use of videotape and satellite delivery in the 1970s and1980s, but soon supplanted by use of interactive television (ITV) and on-line course delivery in the 1990s to date. Today, UK Distance Learning Programs annually administers approximately600 course sections, with services provided to over 5200 enrollees. Courses are offered via six media: interactive video, Internet, on-site, satellite, open-air and cable television, and videotape, with hybrid delivery becoming increasingly popular. The University of Kentucky College of Engineering experience with distance instruction prior to 1985 was limited to videotape non-credit offerings. The Department of Mining Engineering, a small department in terms of numbers of both faculty and students, was a University pioneer in distance education. The first University degree program offered in its entirety by distance delivery(initially by itinerant faculty) was the Master of Mining Engineering. Satellite delivery from Lexington to Cumberland, Kentucky, was a welcomed change of delivery mode in 1987–88,resulting in six hours less travel time for faculty each week. Shortly thereafter, other initiatives directed toward fulfilment of its land-grant mission were undertaken by the College. Use of satellite for course delivery rapidly declined due to limited interactivity, in favour of compressed video and on-site instruction. Classroom sites in the Kentucky Tele-Linking Network (KTLN) now number over 200. The Network links schools, colleges and universities, as well as public and private agencies throughout the State. The KTLN supports voice, video, and data transmission in a uniformly-equipped environment. Beginning in the early 1990s, transfer-critical pre-engineering courses were delivered from Lexington to Kentucky’s community colleges with the largest pre-engineering enrolments. Success was limited, but lessons learned were invaluable. In 1996, the University of Kentucky College of Engineering was asked by the Kentucky Council on Higher Education (the predecessor to the Council on Postsecondary Education) to expand engineering education in Kentucky, first by initiating cooperative B.Sc. degree programmes in Chemical Engineering and Mechanical Engineering on the campus of Paducah Community College (PCC), located 400 km from the UK campus in Lexington. The third partner in these programmes is Murray State University (MuSU), a public regional comprehensive university 80 km south of Paducah. The genesis of the new degree programmes, which were subjected to ABET review in October 2002, as well as a summary of the major accomplishments and challenges of the innovative programmes, will be offered. The limited use of distance technologies for course delivery in these B.Sc. degree programmes will be discussed. A ‘no-spin’ overview of other non-traditional distance-learning ventures within the College of Engineering will be chronicled, with an honest assessment of the motivation for these efforts and, where appropriate, their relative degree of success. Among these ventures are: a BScME and a Master of Engineering programme at Toyota Motor Manufacturing of Kentucky, Georgetown, Kentucky; course exchange in Chemical Engineering between the University of Kentucky and the University of Louisville; an ITV-based Master of Engineering programme for practicing engineers in Kentucky; proposed joint-degree programmes in Civil Engineering and Mechanical Engineering with Western Kentucky University; and a proposed part-time MScME programme in Paducah, Kentucky, with a start date of August 2002, threshold enrolment permitting. Keywords: distance learning, distance education.

Jan 1, 2003

By Karl J. C. Harries

"12.1. NO DEPRECIATION/GAAPAll calculations and computations relating to the Royalty shall be carried out in accordance with generally accepted accounting principles consistently applied to the extent that such principles are not inconsistent with the provisions of this Schedule and the agreement attached hereto, it being specifically agreed that nothing herein contained shall permit, or be construed to permit, the Operator to deduct any amount for depletion, depreciation, amortization or any deduction that represents a non-cash outlay.Comment: In cases like net profit royalties where recoupment of prior expenditures is permitted, care should be taken to avoid any implication that depreciation may also be taken. It is only logical and equitable that Property Owners should not be permitted an apparent ability to “double dip” with respect to deductions. A provision like this example should accomplish the task. It will be noted that the example specifically contemplates that the negotiated arrangements will prevail over any requirements of GAAP. Accordingly, if the parties agree to an unusual formula for recoupment, it will not be set aside to accommodate GAAP requirements. Under GAAP, revenues and expenditures are accounted for on an accrual basis. In addition, it specifically prohibits the taking of non-cash deductions, which is in keeping with the concept of recoupment.Although in some ways the example states the obvious and could be considered redundant, its presence, especially in provisions contemplating recoupment, makes it clear to the financial people that there may well be some variations from normal practices dictated by GAAP, while at the same time confirming the availability of GAAP to fill any voids.The accounting profession often makes the caveat that application of GAAP is an “art”, not a “science”. GAAP do not provide a cure-all and can create problems that will have to be addressed. For example, GAAP contemplate that asset costs are to be reduced by investment tax credits, which can cause a problem for a payor with more than one mine."

Jan 1, 2003

By Dean E. Matthews

The concept of a pile for construction is credited to a Neolithic tribe called the "Swiss Lake Dwellers" who lived in what is now Switzerland about 6,000 years ago. They used piling, not for supporting heavy loads as we do today, but for elevation to protect themselves from wildlife. The Romans often used piles, and built many structures, including buildings, homes, bridges, roads and viaducts on piling. The Romans built the first bridge across the Tiber River in Rome on timber piles in B.C. 1620. Homes in the cities of Venice and Ravenna were built on piles from B.C. 100 to A.D. 400. The Romans also built the first bridge across the Thames River in London in A.D. 60 on timber piling.

Jan 1, 2003

By Trevor R. Ellis

"The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned.Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis.Between 1989 and 1995, all 50 states and essentially all Federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers."

Jan 1, 2003

By José Carlos Abreu

This work presents a kinetics study covering the effects of temperature over the reduction rates of a carbon composite briquette, aiming its use as burden in some of the new alternate ironmaking technologies, such as the Tecnored process. It is reported that increases in the temperature increases the reaction rate. Additionally, the morphology of the iron phase generated during the reduction of these briquettes is presented. It was possible to verify that three types of iron morphology occurred during the process: an external, dense and continuous iron layer, the presence of iron globules at the center of the briquettes and whiskers at the briquette's core. The measurement of the carbon content on the globules and the external iron layer is also presented.

Jan 1, 2003

Jan 1, 2003

By J. Postle, Deborah McCombe

"This is the third in a series of articles about the Committee for Mineral Reserves International Reporting Standards (CRIRSCO). The first article was an interview with Niall Weatherstone, Chairman of CRIRSCO (CIM Magazine, February 2008) the second described the background and goals of CRIRSCO (CIM Magazine, March/April 2008). In 2007, CRIRSCO was adopted as the Reserves and Resources Task Force of the International Council on Mining and Metals. This decision by ICMM has resulted in an increased level of funding for CRIRSCO and the ability to advance its objectives. In mid-October 2007, CRIRSCO members met in London England to discuss the status of each of the member countries’ reporting codes and the progress of various CRIRSCO projects. Update on national reporting codes Australia: The last update of the Australian JORC Code was in 2004. While there are ongoing discussions about issues that arise from the application of the latest version of the Code, there are no plans to update JORC in the near future. Canada: The Canadian Securities Administrators revised National Instrument 43-101 in December 2005. At the same time, the Canadian Institute of Mining, Metallurgy and Petroleum published updated Resource and Reserve Definitions that are incorporated by reference in NI 43-101. CIM is continuing work on developing Best Practice Guidelines to assist practitioners in the estimation of Mineral Resources and Reserves. South Africa: The South African Mineral Reserve Committee is currently awaiting an update of the Johannesburg Stock Exchange Limited Listing Rules, which will incorporate both SAMREC and SAMVAL (South African valuation guidelines). The official launch of both codes is expected in 2008. Europe: The Pan-European Reserves Reporting Committee expects to release a consultation draft in 2008. Emphasis is being placed on industrial minerals and aggregates, which constitute a very large industry in Europe. Chile: The Chilean Certification Code was approved in early 2008. As part of the Code, a National Commission is being established to screen and review reports on a random or specific basis. United States: The Society of Mining Engineers updated the SME Reporting Guidelines in 2007. The Securities and Exchange Commission has not accepted these more up-to-date definitions and guidelines. The SME committee will continue to discuss the incorporation of these Reporting Guidelines with SEC. SME has also established a class of membership, a Registered Member, which includes disciplinary measures for non-compliance with the SME guidelines."

Jan 1, 2003

By William E. Roscoe

"Valuation methods are well established for mineral properties with production or imminent production, and include discounted cash flow and comparable transactions. Valuation methods for non-producing mineral properties, however, are more subjective. Non-producing mineral properties include those at various stages of exploration, properties at the prefeasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. Different valuation methods may be appropriate for different types of mineral properties.Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage. The market approach is generally appropriate to all types of mineral properties, although it is difficult to find good comparables because of the unique nature of mineral properties and the small number of transactions. Cost approach methods, such as appraised value and geoscience factor, are commonly used for exploration stage properties.Canadian standards and guidelines for valuation of mineral properties are in the process of being finalized by a Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIMVal Committee). The CIMVal Standards are intended to be consistent with National Instrument 43-101, which sets regulatory standards of disclosure for mineral projects, and with International Valuation Standards. The intent of the CIMVal Standards and Guidelines is that mineral property valuation be carried out by appropriately qualified individuals and that all relevant information be disclosed."

Jan 1, 2003

By Michael J. Lawrence

"The VALMIN Code was developed and formally adopted by The Australasian Institute of Mining and Metallurgy (AusIMM) in 1995 and a revision was issued in 1998. The VALMIN Code applies to all relevant reports under the Australian Corporations Law, including submissions to the Australian Stock Exchange (ASX) and the Australian Securities and Investments Commission (ASIC).The VALMIN Code and Guidelines sets standards for the preparation and commissioning of independent assessment and/or valuation reports on mineral and petroleum assets or mineral and petroleum securities.It is mandatory for AusllvI:M's members to follow this Code in these relevant circumstances and failure to do so will result in serious sanction of the member by the Ausllvllvfs Ethics Committee. Public support for the use of this Code has been given by regulators (ASX/ASIC) and market participants ( eg major accountancy firms). It is also endorsed as a guide to general best practice in project assessment and valuation.This paper will discuss how the VALMIN Code has worked in practice over the past few years. It will also examine areas where the Code could be improved and how it could form the basis of a new Canadian Code for mineral property valuation."

Jan 1, 2003

By Karl J. C. Harries

"4.1. INTRODUCTIONThis chapter, although divided into four parts, deals with only two principal topics. The first briefly describes and discusses some common types of property interests and considerations relating to them and the second deals with entering upon privately owned lands and obtaining the consent to do so.It should be noted that the terms “mining rights” and “mineral rights” are used interchangeably. As so used, they include the right to exploit the minerals and dispose of them for the benefit of the owner/lessee. This is relatively common in common law jurisdictions. In some jurisdictions, the two terms have distinct meanings, with “mining rights” referring to the right to work or exploit the minerals and “mineral rights” referring to the minerals themselves.Finally, it must be mentioned that the comments in the Introduction and §§ 4.2., 4.3. and 4.4. are based primarily upon Ontario law and Ontario’s mining and real property systems of registration. They have been included for illustrative purposes.4.2. LICENCES, CLAIMS, AND LEASESIn most jurisdictions, there are several basic types of interests that can be obtained from the state for mining purposes and that are of interest to the explorationist, as opposed to the operator. Different jurisdictions will have variations of these and possibly some extra ones that will address special purposes or local concerns. In virtually every jurisdiction, privately owned property rights are obtained through negotiation between owner and acquiror.Exploration or prospecting licence. This licence grants to the holder the right to prospect over a large tract of land and the exclusive right to acquire mining claims within that tract for the term of the licence. Such licences are usually negotiated documents requiring a minimum expenditure during the first year (often secured by a deposit or surety bond) and minimum annual expenditures thereafter to continue the licence in force up to its full term. The term will rarely exceed four years. The number of claims permitted to be staked will be limited in some way, possibly as to a maximum aggregate area or a maximum number of claims per annum. It is normal for the holder to have to drop part of the licensed area each year, so that the area shrinks annually, although exploration expenditure requirements will usually increase.These types of licences are usually used by governments to encourage exploration of otherwise unattractive or remote areas, such as the far northern parts of some of Canada’s provinces. They do not grant any real property interest in the area for which they are issued, and they will be subject to any claims or property rights that exist in the area. They are contracts with the state that grant certain exclusive rights in return for commitments to carry out work. They may or may not be specifically authorized by statute."

Jan 1, 2003

By Fred N. Kissell

This handbook describes effective methods for the control of mineral dusts in mines and tunnels. It assumes the reader is familiar with mining. The first chapter deals solely with dust control methods, regardless of the application. It is a brief tutorial on mining dust control and will be of help to the reader whose dust control problem does not conveniently fit any of the mining equipment niches described in later chapters. The subsequent chapters describe dust control methods for different kinds of mines and mining equipment. This includes underground coal and hard-rock mines, as well as surface mines, stone mines, and hard-rock tunnels. Because dust sampling has so many pitfalls, a chapter on methods used to sample dust is included. For those occasions when there is no practical engineering control, a chapter on respirators is also included. Except for those listed as ?future possibilities? in the longwall chapter, the dust control methods described are practical and cost-effective for most mine operators. If controlling dust were a simple matter, dust problems in tunnels and mines would have been eradicated years ago. Unfortunately, most underground dust control methods yield only 25% to 50% reductions in respirable-sized dust. Often, 25% to 50% reductions are not enough to achieve compliance with dust standards. Thus, mine operators must use several methods simultaneously, usually without knowing for sure how well any individual method is working. In fact, given a 25% error in dust sampling and day-to-day variations in dust generation of 50% or more, certainty about which control methods are most effective can be wanting. Nevertheless, over the years, some consensus has emerged on the best dust control practices. This handbook summarizes those practices.

Jan 1, 2003

By Chang-Young Choi

Korea Zinc commenced zinc production in 1978 with a capacity of 50,000 tpa. Since then, continuous investments have been made and resulted in Korea Zinc now being the biggest zinc and lead producer in the world. In the course of increasing zinc production capacity, the company management realized that the company needed a lead smelter to prevent the solid waste disposal problems by treating the lead containing solid waste. This paper begins by briefly stating the objectives and the roles of the lead smelter at Onsan. It describes the QSL process and the TSL process, and further extends the description of the TSL process, through which harmless inert solid waste could be produced for secure final disposal. It is also mentioned that the TSL process plays an important role in the integration of zinc and lead production. Throughout the paper, a positive attitude in handling the environmental issues in the non-ferrous smelting industry is emphasized. Finally, a solution for the solid waste disposal problem in the zinc and lead industry is proposed, with which the environmental issues can be an opportunity rather than a crisis. The current operation at Onsan suggests the future direction of the non-ferrous smelting technology that all of the zinc and lead producers should pursue.

Jan 1, 2003

By Karl J. C. Harries

"11.1. INTRODUCTIONA royalty is the most common form of interest retained by an owner who is disposing of his property or by a joint venturer who ceases, voluntarily or otherwise, to participate in the joint venture.1 Rarely does a non-participating party have a direct interest in the property and/or assets of a project, except during the period when a non-participating joint venturer may be having his interest diluted.2 In fact, it is most unwise to permit a non-participating party to have such an interest. It may give rise to significant problems that could prevent or substantially delay the development of an orebody and require a considerable amount of time, effort, and money to correct.3In negotiating a royalty, it is important to be aware that there is no law or convention that says, “You just don’t do that in a royalty agreement.” As with any agreement, inventiveness and flexibility on the part of the negotiator are not just assets, but virtual necessities. It is also for this reason that it is essential to read the royalty provisions, particularly the definitions, fully and carefully, especially if you are the recipient. On the other hand, if your inventiveness and flexibility cause your accountant to question the advisability of one of your ideas, pay close attention to him.4 He will, no doubt, have had experience with many royalties, and no competent professional adviser disparages a client’s ideas without good reason. Besides, he will probably be the person who will be determining the royalty or certifying the determination of it. At the very least, he will be auditing your general financial statements, which must, of course, reflect the royalty determination. Heeding his advice not only may make the determination easier but also will probably save you money in professional fees later on. Nevertheless, do not simply accept his comments or recommendations without understanding what they mean, why they have been made with respect to your royalty agreement (sometimes professionals have comments that they make as a matter of course and, even though they may be valid, you should require them to be justified to you), and how they will affect your royalty determination.It is surprising how many corporate payors insist that their standard royalty provisions5 be used as a matter of policy, thereby effectively tying the negotiator’s hands. It is even more surprising, and to professional advisers frightening, how many of the senior employees who insist that such a policy be adhered to, virtually without variation, do not know what is in the standard provisions and would be hard-pressed to explain them to a property owner. If standard provisions are appropriate, by all means use them, but do allow experienced and sensible negotiators some flexibility and make sure that everyone within the corporation who may have to use such provisions – negotiator and supervisor alike – knows what they contain and why they are as they are. For example, there are often good and convincing reasons to describe a deduction in a certain way or to include a certain specific type of deduction. On the other hand, quite often the answer to the question “why?” is that “it has always been there”; this is, or should be, an unacceptable answer. In any event, if you, as the negotiator, appear to know what you are talking about, are familiar and comfortable with your royalty provisions, and are backed up by your boss with the same words or reasoning, a property owner cannot help but be satisfied that you are knowledgeable, even if he still does not agree with your provisions. Finally, if you do use standard provisions, make sure that they are reviewed and updated regularly."

Jan 1, 2003