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By T. Holmes, J. Middlemiss

"Agnico-Eagle (AE) has been operating their Kittila Mine in Northern Finland since 2008. The mine has experienced considerable ore flow problems with ratholing, bridging and freezing in their mill feed bin since start up. In the first winter of operation, the entire central portion of the contents of the cylindrical flat-bottomed 2000 tonne mill feed bin froze. Flow was erratic and could only be achieved through small diameter ratholes. To maintain a reasonable, albeit limited, feed to the mill, the bin had to be kept less than ½ full and a portable steam generator was brought in to melt the frozen agglomerates that frequently blocked the outlets. The combination of limited surge capacity and frequent outages required the crushing plant to operate 24/7 and resulted in inconsistent production levels and high operating costs.AE had planned to expand the processing plant to increase throughput by about 30% when they transitioned from open pit to underground ore. These plans presented an opportunity to improve the material handling.To avoid the problems experienced with the original mill feed bin, AE enlisted Jenike & Johanson Ltd. (J&J) to test samples of the ore, and based on the measured flow properties to provide design recommendations to ensure that the new mill feed bin would operate reliably. The new 2000 tonne expanded flow mill feed bin and apron feeder were installed in 2014 and are now supplying almost 93% of the total mill feed with the remaining coming from the original bin.IntroductionIn early 2009, AE engaged J&J to visit their then recently opened Kittila mine and mill in Northern Finland (Figure 1). Over the first half-year of operation, production had been restricted in the ore handling and storage system by flow problems such as ratholing, bridging and freezing including blockages of chutes and hoppers as a result of frozen fines buildup and large frozen agglomerates. AE wanted to increase production in the existing open pit mine and mill feed operation and also wanted to avoid similar ore handling problems when they commissioned the new underground mining system under development at that time."

Jan 1, 2017

By Brad McBain

Agenda ? Accurassay Laboratories and Automation ? History and experience ? Features and benefits of automation in the lab ? Tata Steel Minerals Canada (TSMC) Iron Ore Laboratory ? State-of-the art systems and design ? The integration of fusion systems and XRF units ? Meeting deliverables: quality, reliability, safety

Aug 1, 2013

By S. A. L. Read

"The intact rock constant, mi, is one of the three basic input parameters required for the widelyused Hoek-Brown failure criterion. Values for the constant should ideally be determined by statistical analysis of laboratory test data. In this paper the influence of the inclusion or exclusion of tensile test data on derived values is discussed. We firstly investigate the relationship between direct tensile strength (DTS) test values and Brazilian tensile strength (BTS) test values based on a literature search, finding that the correlation between the two test types is DTS = 0.9*BTS, independent of the lithology being tested. Secondly, using the shear strength database of Douglas (2002), we examine the influence of confining pressure range and the inclusion or exclusion of DTS and BTS test values on calculated values of mi.Chief amongst the influences was the exclusion of tensile data in the calculation procedure, particularly when the Hoek triaxial confining stress range requirement (?3?max = 0.5?c) was not satisfied. Based on a reasonable 1:1 relationship between R (the ratio of unconfined compressive to tensile strength), use of actual tensile data in the calculations for the Hoek brown failure criterion is considered to be a simpler and more robust approach to the use of a tensile cutoff based on empirical criteria such as that of Fairhurst (1964). We advocate the fitting a failure curve using compressive and tensile test data as the most reliable means of calculating mi, while at the same time satisfying requirements as originally advocated by Hoek relating to the appropriate triaxial confining stress range (?3?max = 0.5?c) and sufficient (>5) evenlyspread data points. In the absence of triaxial data the use of R provides a practical means of obtaining estimates of mi that are more robust than guideline values."

Jan 1, 2015

By J. E. Terry

This paper outlines the steps that are being taken to close the gap between training and industry and indicates areas in which more work needs to be done. Although based on experience in the Maritime Provinces, it is applicable to industrial and educational studies across the length and breadth of Canada.

Jan 1, 1970

By G. J. Simandl

"Since the 1980s, China has become the predominant producer of REEs. Recently, it introduced REE export quotas and this started a world-scale REE exploration rush. REE resources are concentrated in carbonatite-related deposits, peralkaline igneous rocks, pegmatites, REE ± P veins, ion adsorption clays, placers, and some deep ocean sediments. REEs could also be derived as a by-product of phosphate fertilizer, U processing, Ti-Zr-bearing placers, and exploitation of Olympic Dam-type sub-type of IOCG deposits. The ideal REE development target would be located in a politically stable jurisdiction such as Canada. REE grade and tonnage, mineralogy, and permissive metallurgy are some of the key technical factors that could be used to screen projects. INTRODUCTIONAccording to the International Union of Pure and Applied Chemistry (IUPAC), the term “rare earth elements” (REEs) encompasses yttrium (Y), scandium (Sc), and the lanthanide series: lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), and lutetium (Lu). This definition is used throughout this paper.REEs are subdivided into light (LREE) and heavy (HREE) categories. LREEs include, Sc, La, Ce, Pr, Nd, Sm, Eu, and Gd and HREE include Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y. Promethium (Pm) does not occur in nature. Concentrations of individual LREEs in the upper crust of the Earth are comparable to those of base metals. Even the least abundant REE (Lu) is about 200 times more abundant than gold.The production of REEs, reported in the form of oxides (REOs), for 2011 is estimated at 140 000 t (Figure 1a). Although high technology industries can substitute several REEs with other materials, these substitutes are typically more expensive or less effective than the REEs they replace. A number of countries, including the United States, consider several REEs essential for national security, their economy, and a general reduction in green house gas emissions. The forecasted demand for individual LREOs is much higher than that of HREOs (Figure 2). Dy, Eu, Tb, Nd, and Y are essential for the US economy and subject to predicted supply disruptions (U.S. Department of Energy, 2010)."

Jan 1, 2012

By Carlos León, David Estrella, Javier Linares

"Recently, Antamina has completed an expansion program of its operations which increased the thoughput in grinding from acapacity of 109 to 130 ktpd. After commissioning, throughput could be exceeded in grinding and downstream processes but primary crushing became a major bottleneck to the overall production process.With an objective to increase the processing capacity of the primary crusher system, a multidisciplinary team was formed with members of Mine, Concentrator and Maintenance departments, who analyzed the overall context of this process restriction. The main implementations developed were: automatic discharge systems of trucks, logic to count trucks and elaboration of a daily performance report. Following implementation of developed improvements, the numbers of discharged trucks to crusher were increased from 449 to 614 units per day. As a result, the expansion target of 130 ktpd was exceeded and processing capacity was increased from 109 ktpd to 145 ktpd. This improvement adds very significant economical value for Antamina.INTRODUCTIONAntamina is a copper-zinc mine located in the Peruvian Andes. Compañía Minera Antamina is owned by BHP Billiton (33.75%), Xstrata (33.75%), Teck Cominco (22.5%), and Mitsubishi (10%). The mine was commissioned in 2001 with a capital investment of US$2.3 billion, and had a nominal 77,000 ktpd mill capacity. Mining, milling, flotation, and tailings impoundment take place at the mine site, which sits at an altitude of 4,300 m above sea level. The deposit is a polymetallic skarn ore body with intrusive phases of quartz-monzonite porphyry into Cretaceous aged limestone. Copper is present mainly as chalcopyrite with a minor bornite component. Zinc is present as sphalerite. Molybdenum is present as molybdenite. Some lead, bismuth, and silver are associated with the sulphides. The deposit is currently classified into six main ore types [Dechert, 2006], grouped into two categories: copper and copper-zinc. The mill produces four concentrate types: copper, molybdenum, zinc, and lead-bismuth. Copper and zinc, concentrates are transported by pipeline down to the port of Huarmey. Molybdenum and lead-bismuth concentrates are bagged and trucked to port."

Jan 1, 2013

By Clermont Lavoie, Marc Filion, Marcel Vallée

"Les mineralisation d'or des gîtes de la SOQUEM - Silver Stack dans is canton Bousquet se situent dans une bands de roches pyroclastiques asides du groupe de Blake River, d'âge archéen, dans le même horizon géologique que lee gites aurifères de Thompson Bousquet et Dumagarni situés plus a rest. La propriété a été explores anterieurement a maintes reprises depuis les années 1930, parfois jusqu'aux travaux souterrains, notamment par les groupes Mooshla, Warrenmac et Westwood Cadillac ainsi que par Silver Stack Mines.Ces zones auriferes se situent a l'intérieur de larges halos (jusqu'à 1,000 m x 400 in) de pyrite disséminée (2-5%) dans des tufs a lapilli et des agglomerate acides montrant des concentrations locales de pyrite. La zone 1, découverte en vérifiant par sondage une anomalie E.M., coincide avec une de ces concentrations de pyrite et la teneur en or est ici proportionnelle a la pyrite. Ce secteur se distingue par l'intensité de l'altération en séricite. La zone 2, qui s'étend sur près de 600 m, se situe dans un agglomérat acids, avec une faible teneur en pyrite, et montre de fines veinules de quartz-carbonate.Du point de vue géophysique, aucune methods ne donne des résultats probants: la polarisation provoquée montre de tree grandee anomalies correspondant aux halos de pyrite, tandis que lee concentrations de pyrite détectées par les méthodes E.M. (VLF ou EMH) sont loin d'être toutes aurifères. Les relevés magnétiques aident a établir la structure la où un certain contraste de susceptibilité magnétique est present. Les essais minéralurgiques préliminaires indiquent que la concentration de Bette mineralisation aurifère ne présentera pas de problems majeur."

Jan 1, 1977

By Xiang Li, Xibing Li

It is paramount that the stability of rock slopes be correctly accounted for under diverse operating and environmental conditions. Owing to different sources of uncertainty entailed in such stability problems, conventional deterministic approach through the calculation of a factor of safety (FOS) cannot reflect quantified uncertainties explicitly and sufficiently. Thus it is highly desirable to invoke the reliability approach to consider uncertainties in a systematic manner. Nowadays, the current design standards have an increasing tendency to ensure rock slope stability by pre-defining a target reliability index (or target probability of failure), viz., the reliability level of a rock slope is pre-set as a target to be satisfied. In such a situation and considering the fact that the FOS used as an indicator of slope performance still has a very wide acceptance, we focus on proposing an inverse-reliability-based methodology which aims at developing a two-fold indicator strategy, i.e., using the FOS and reliability together to deal with slope stability problems. The basic idea behind it is to utilize a so-called inverse first-order reliability method (IFORM) to directly calibrate the FOS provided the target reliability index has been given. In this way, the calibration scheme relating the FOS can be rationally done by not only incorporating uncertainties, but also satisfying a desired level of the prescribed reliability. Based on this, to make the IFORM computationally feasible and also reduce its computational cost, we introduce the response surface method (RSM) to generate a surrogate for the FOS-based limit state function (LSF), considering the lengthy and complicated form of the FOS in some recognized methods (e.g., within the framework of limit equilibrium). Distinguished from the existing RSMs that potential inadequacies may arise, we present an RSM based on a hybrid approach combining support vector machine (SVM; used as a regression technique) and uniform design (UD; pertaining to experimental design). Using a representative example of rock slope stability problem, we demonstrate the feasibility and validity of the developed methodology, during which the associated sensitivity study and further discussion are also performed. By dint of such a methodology, we can establish a link between the conventional deterministic approach and the reliability approach, where a logical and realistic framework is provided, for cases achieving the specified reliability, to assist in selecting the FOS which remains adequate for rock slope stability even in the face of uncertainty.

Jan 1, 2015

By Terry A. Lee

The grade of mineral resource estimates underpin all major economic considerations of mining prospects. While there are reporting requirements to satisfy when stating a mineral resource estimate, an examination of NI 43-101 style reports suggests that authors believe that there are a number of ways of addressing these requirements. As a reader of these reports, some processes are helpful and others are not so in getting a real appreciation of how realistic is the mineral resource estimate. Critical to the quality of the mineral resource estimate is how realistic is the economic mineral concentration component. In many cases, this parameter is called grade. The industry experiences increased difficulty in achieving realistic grade estimates as the sample grade variability increases. The level of transparency in a mineral resource estimate is very much a function of the competence of the author. An objective presentation of the critical data, such as grade sampling variability can assist a reader in determining if the geology of the mineral concentration is adequately understood and how realistic is mineral resource grade estimate. This paper has considered 75 NI 43-101 style reports released in the past 2 years. The review demonstrates features that were helpful in determining how realistic the mineral resource grade estimate is. If there is insufficient transparency in a report, there is a high probability that the mineral resource grade estimate will not be realistic.

Apr 1, 2005

By G. Lipsett, S. Dessureault

Information technology (IT) initiatives in the past have tended to be sold on their ability to maximize resource output and return on capital by allowing assets to be used more effectively and efficiently. Many IT projects fail, not delivering return on their investment. This is known in the IT industry as the “productivity paradox,” where increasing investments in IT do not result in comparable increases in productivity. Experiences and studies of most business sectors reveal that this paradox is rooted in the false assumption that more IT spending automatically results in financial benefit, whereas the benefits are in how effectively IT is used. Most business sectors have accepted that re-engineering of processes is required to gain the full benefits promised of IT. A mining operation has organizational processes similar to most business sectors, but unique operational processes. The lessons of changing business practice in more common business processes, such as inventory control and customer-supplier relationships, can be adequately transposed into a mine setting. The unique operational processes in mines, in turn, require unique redesign efforts. Several enabling information technology opportunities have recently become available, such as more integrated mine production management systems and tactical manager training simulators. This paper reviews some of the latest IT products and outlines the processes and kinds of change that will be required in order to benefit from these new investment options.

Jan 1, 2009

By K. H. J. Clarke

"ALTHOUGH nickel was not identified as a separate element until a Swedish scientist, Axel Frederick Cronstedt, did so in 17 51, its utilization dates from pre-historic times. From its humble beginnings nickel has grown in importance until, today, in our clocks, television sets, automobiles, and air-planes, in our bridges, tableware, farm implements, and the equipment which processes our food, it is constantly at our service.For convenience in assembly, data and information relative to The Marketing of Nickel will be outlined in five phases: (A) Sources, (B) Distribution, (C) Utilization, (D) Market Development, and (E) Conclusions."

Jan 1, 1960

By R. W. Lawrence

"Biological leaching can be used to enhance the recovery of gold and silver from refractory ores, concentrates and tailings. The method liberates precious metals associated with sulphide minerals such as pyrite and arsenopyrite making them amenable to cyanidation. The chemistry and features of biological preoxidation leaching is discussed. A summary of the results obtained on various ores, concentrates and tailings is presented.INTRODUCTIONRefractory precious metal ores in which gold and silver are finely disseminated in sulphide minerals such as pyrite and arsenopyrite are becoming more important to the mining industry. This is due both to a depletion of simpler, free-milling ores and to a significant increase in the price of gold in recent years. Whereas many ores can be directly cyanided with gold solubilizations over 90% obtained, the refractory ores respond poorly to direct cyanidation and require decomposition of the precious metal-bearing sulphide minerals to increase recoveries.Decomposition of sulphides by oxidation prior to cyanidation can be carried out by several means. The oldest method is roasting which removes unwanted ore constituents by high temperature oxidation and volatilization. In Canada, for example, roasting is used at Giant Yellowknife (Connell and Cross, 1981). Another method gaining increasing acceptance is pressure hydrometallurgy which uses aqueous oxidation conducted at high temperature and pressure. Homestake Mining Company have recently completed construction of a plant incorporating pressure oxidation at their Mclaughlin property in California (Guinivire, 1984)."

Jan 1, 1985

"The Dumont deposit is a large (1066 Mt probable reserve) low grade (0.27% nickel), nickel sulphide project located in the Abitibi region 25km west of Amos, Quebec. Royal Nickel Corporation acquired the project in 2007 and has since taken the deposit through pre-feasibility. And updated, revised pre-feasibility was released in July 2012.The disseminated nickel sulphide and alloy mineralization is hosted within the serpentinized dunite subzone of the Dumont Sill; a differentiated, pervasively serpentinized, ultramafic sill of komatitic affinity. Pentlandite, heazlewoodite and awaruite are the dominant nickel-bearing, metallic phases and can be recovered by conventional methods (flotation, mag separation). Non-recoverable nickel is also present within the silicate matrix of the serpentinized dunite and is locked in serpentine (Fe and Mg-rich variants) and minor olivine.A detailed mineralogical program including 1097 QEMSCAN® samples and 4300 electron microprobe points were undertaken to increase the understanding of the nickel deportment in the various recoverable and non-recoverable phases in a spatial context across the deposit. Eighty-three (83) metallurgical tests performed under a standard procedure have linked the mineralogy to metallurgical performance. This has allowed the creation and modelling of geometallurgical domains on a block by block basis to understand the recovery variation and metallurgical performance throughout the deposit. Understanding the spatial variability of Ni deportment in recoverable and non-recoverable phases through mineralogy is the key to understanding metallurgical performance thus, unlocking the value of the Dumont deposit and other large tonnage low grade ultramafic nickel deposits."

Jan 1, 2013

By Frank B. Amon

Highland Valley Copper had to make some significant changes in the way it was working in order to counter the effects of ever-increasing costs and decreasing metal prices. A mine/mill optimization plan started in 1997 introduced new technologies and management approaches that resulted in a dramatic drop in cash breakeven costs. The changes involved employee training, added authority and responsibility for staff, better communications, and a consistent approach to setting and achieving property-wide goals. The net effect was to change the culture of the organization from one that was fragmented and focussed on local objectives to one that is cohesive and has common goals. These changes have allowed the mine to remain in business during a protracted period of low metal prices, and have positioned the mine favourably to benefit even more from any future increase in prices.

May 1, 2004

By E. LaRocque

"Long term contracts requiring delivery of 6,000,000 pounds of U308 per year to its customers have made it necessary for Denison Mines to expand its milling capacity from 7,100 tons per day to 15,000 tons per day.Previous papers (1) and (2) described the old leaching and product recovery practice. The flowsheet briefly includes a crushing and grinding circuit, sulphuric acid leaching in a Pachuca plant, liquid-solid separation with wash thickeners and two-stage drum filtration, concentration and purification by moving bed ion exchange followed by two-stage precipitation to produce an ammonia yellowcake.No. 1 Shaft ore, about 4,000 tons per day, will be processed through the truck dump into the old crushing and grinding plant and through the old leaching plant. Ore from Stanrock (No. 3 shaft) will be hauled by truck and also processed through the truck dump as No. 1 shaft ore. Beginning in 1982, ore production from Stanrock will gradually increase until 1985 when some 3,000 tons per day will be milled from the source.A new 8,000 ton per day circuit was designed and constructed to increase the milling capacity to 15,000 tons per day. The new circuit is separate from the old one except that it coins together for the precipitation and tailings neutralization sections of the plant. The feed to the new plant will be from No. 2 shaft.The flowsheet is much the same as the old plant with the exception of the grinding circuit and the ion exchange plant. A semi-autogenous grinding (SAG) plant, unique in the Elliot Lake area, has been installed rather than the conventional crushing and grinding plant; the ion exchange plant is the stationery bed type.This paper describes the major equipment installed for the expanded grinding and hydrometallurgical plant."

Jan 1, 1982

By D. C. Peck, James. R. S., Chubb. P. T.

"Abstract -The East Bull Lake gabbro-anorthosite intrusion is one of several Early Proterozoic layered matie intrusions occurring along the Southern Province - Superior Province boundary in the Elliot Lake - Sudbury region, Ontario. The base of the East Bull Lake intrusion comprises abundant plagioclase cumulates (Leucogabbronorite Zone) hosting two distinct styles of sulfide mineralization: (1) disseminated magmatic sulfides, and (2) disseminated to massive, structurally controlled sulfides. Both types of mineralization are enriched in Pd, Pt, Au, Cu and Ni. The host rocks to the sulfide mineralization display a range of interesting features including nodular textures, dendritic­ pegmatitic matie pods, inclusion-rich zones (pyroxenite, anorthosite and granitic inclusions) and mag­ matie breccias. Disseminated chalcopyrite, pyrrhotite and pentlandite occur in concentrations of up to lOOJo within erratically distributed gossan pods near the base of the intrusion. The sulfides were originally precipitated from intercumulus liquids, but were subsequently recrystallized and locally remobilized along fractures during the major period of metamorphism and deformation that af­ fected the East Bull Lake intrusion. The base- and precious-metal tenor of the structurally controlled sulfides can be explained by extensive remobilization and reconcentration of the pre-existing magmatic sulfides in the vicinity of a major shear zone. Both styles of sulfide mineralization locally contain ppm abundances of POE + Au and are generally Pd- and Cu-rich, although both display large variations in Pd :Pt and Cu:Ni ratios. The magmatic sulfides are more strongly enriched in POE and contain up to 1470 ppm Pd in 100% sulfide. Severa! factors, including source characteristics, magmatic processes (crustal assimilation, fractional crystallization) and post-magmatic inter­ action with hydrous fluid, have influenced the present distribution of POE, Cu and Ni in the East Bull Lake intrusion .The magmatic sulfide occurrences from the East Bull Lake intrusion compare favorably with marginal-type deposits from rift-related intrusions (Noril'sk-Talnakh region, Siberia; Duluth Com­ plex, U.S.A.) in terrns of their distribution, but are most similar to reef-type POE deposits with respect to their base- and precious-metal geochemistry. The combination of high POE tenors and large tonnages that is observed for the POE-Cu-Ni mineralization from the East Bull Lake intrusion suggests that a good potential exists for the presence of economie concentrations of Pd, Pt, Au, Cu and Ni in the intrusion. On a global scale, the East Bull Lake intrusion is part of a suite of Early Proterozoic plutons, many of which contain significant volumes of stratiform and/or marginal­ type POE-Cu-Ni mineralization. The East Bull Lake intrusion is also one of the oldest mineralized intrusions derived from a sub-Superior Province mantle source region that has given rise to several significant magmatic POE-Cu-Ni deposits during the period 2.5 Ga to 1.1 Ga."

Jan 1, 1993

By H. F. Zurbrigg

Introdduction The main line of ascent in the development of the nickel industry may be traced back through the International Nickel Company of Canada, Limited, to its earliest antecedents, the Canadian Copper Company and the Orford Copper Company. Mining geology is but one aspect of the overall development of this organization, and the stress it has placed on geology grew according to the need. In the early days, intensive geology was not required because ore supply was not one of the main problems of this or any of the pioneer companies. The difficulty then was to find economic methods for reducing the ores to nickel and copper, and markets for absorbing nickel in the face of a limited demand from consumers heavily prejudiced in favour of the New Caledonia product. "Very early in the history of the region it was patent to everyone that to share in the full benefits of the industry the same individuals or company must control the whole of the operation necessary to manufacture the finished product' (1, p. 45). These conditions were fulfilled for the International Nickel Company in 1902 when the Canadian Copper Company (incorporated 1886), with its ample ore supply, took the initiative to merge its interests with those of the Orford Copper (Refining) Company (incorporated 1887) to form the new company which, with reorganizational changes, emerged as the producer of the overwhelming bulk of the world's nickel. The Mond Nickel Company, Limited, entered the field in 1899 with a refining process, and over a period of years acquired ore through purchase of mining properties. This Company operated successfully and independently until 1929 when its assets were joined with those of the International Nickel Company in order to permit the most economic exploitation of the Frood-Stobie orebody in which both Companies were interested.

Jan 1, 1948

By Ronald L. Bruening

IBC has developed a cost effective MRT process for the selective extraction and recovery of gold, copper, and a mixture of other base metals from mine leach cyanide solutions. This is a two-stage system in which the gold is first recovered selectively as a high purity salt. The copper is then recovered separately as a sulfate salt. The other base metals are then collected as a cyano anion concentrate. Three different SuperLig® materials are used. The first stage can be used alone on gold leach solutions where copper and other base metals are not a problem. The two or three stage system is used when the base metals build up in the leach solution, resulting in increased costs. The cyanide or cyanide/cyano anion concentrate can be recycled back to the leach solution until the build-up of other salts, etc. becomes too high, or this too can be controlled with a percentage bleed stream.

Oct 1, 2003

By William E. Roscoe

"Non-producing mineral properties include those at various stages of exploration, properties at the pre-feasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. The market approach is applicable to all these types of non-producing mineral properties. Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage, but may be applicable to non-producing mineral properties with defined mineral reserves or mineral resources.The value of a non-producing mineral property depends on its perceived potential for the existence and discovery of an economic mineral deposit. The potential, in turn, depends on a number of factors which must be considered when choosing market comparables. These comparability factors include such items as geology, mineralization, stage of exploration and results, mineral resources, location and geography, and political jurisdiction. The date of the market comparables must be within a reasonable time period of the valuation date of the subject property. Although it is difficult to find good market comparables because of the unique nature of mineral properties and the small number of transactions, these difficulties are compensated for by analyzing a number of transactions on similar properties to develop a range of values for the subject property.For valuation purposes, market comparables can be expressed in terms of total property value, value per unit area (e.g., $ per hectare), or value per unit of metal contained in mineral resources (e.g., $ per ounce of gold, or $ per pound of copper). The market comparable value can be used to estimate the value of the subject property by using the total property value, unit area value or contained metal value."

Jan 1, 2003

By Ian Thomson

The Social License to Operate ? We are operating in an era where social license in the resource industry is as important ? if not more important ? than mineral potential ? Concept proposed by Placer Dome executive Jim Cooney in 1997 as essential requirement for the future survival of the mining industry ? ?You don?t get your social license by going to a government ministry and making an application or simply paying a fee? It requires far more than money to truly become part of the communities in which you operate.? Pierre Lassonde, President of Newmont Mining Corporation (2003). What it is ?Granted by the local community ? Intangible, informal, non-permanent ? Has to be earned and then maintained ? Defined as ? Ongoing Acceptance (a lower level) ? Ongoing Approval (a higher level) ? Expression of the quality of the ?relationship?

Aug 1, 2013