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By John Smith

"The RTZ Corporation PLCFrom a company's point-of-view, a good investment decision is one which results in the purchase of an asset that is worth more than it costs. Thus, in order to judge the merit of an investment opportunity, it is necessary to estimate the value of the assets to be acquired.Discounted cash flow (DCF) analysis has become widely adopted by companies in assessing potential new investments. The principle is a simple one: invest in projects which have a positive net present value, and reject those which do not. However, perhaps because of its apparent simplicity, DCF analysis is frequently misused. Good practice in the use of the technique is discussed, together with several common misconceptions.Sound analysis requires sound data; thus, the valuation process relies heavily upon a wide range of specialists to provide the basic input from which cash flow forecasts can be built up. The analyst must maintain close liaison with these specialists from the outset in order to ensure that the data provided is indeed relevant and complete.IntroductionBefore turning to the main subject of this paper ""How Companies Value Properties"", it is of interest to consider first a slightly different question ""Why do Companies value Properties""? In other words, for what purposes are such valuations prepared? Certainly the commonest, and probably the most important circumstance in which a valuation is required is when the company is considering an investment opportunity. This may be the direct purchase of a property or group of properties from a third party, but could also be the opportunity to develop a new operation or expand an existing one.A very simple objective in making any kind of investment is to make our shareholders richer than they would otherwise have been. That is, to make investments whose value to shareholders exceeds the consideration required to acquire them. Thus the investment decision focusses on the difference between an asset's value and its cost.This distinction between ""value"" and ""cost"" is an important one. Study of a company's balance sheet may tell a lot about the cost of this company's assets, but very little about their value. Then again, it is sometimes argued that a business should be bought because this will result in assets being acquired for less than their replacement cost. This merely compares one cost with another, it says nothing about value."

Jan 1, 1991

By René G. del Villar, Jules Thibault, René del Villar

"Some key control variables of industrial processes, associated with product quality, often cannot be measured directly or frequently enough to establish adequate control. In such cases, it is possible to use available measurements to provide a prediction for these process variables and use them in a control strategy, thereby giving rise to what is now commonly called a softsensor.In some industrial grinding circuits, the on-line particle size analyzer is shared between various sampling points. Therefore, for a given location, the actual measurement is only available every 10 to 20 minutes, a delay which is unacceptable for automatic control purposes. To alleviate this problem, a softsensor based on an artificial neural network has been investigated. First, the structure of the neural network and different schemes for the training process are analyzed. Then, the performance of the neural network softsensor is compared with other inferential methods such as ARMA models and Kalman filters.IntroductionGRAHM, French acronym of the Research Group on Computer Applications in the Mineral Industry at Laval University, began in 1990 a research project on Knowledge Based Automatic Control (KBAC). This project, sponsored by a consortium of eight mining companies and the federal and provincial governments, seeked to screen advanced (knowledge-based) methods for data processing (filtering, mass balancing, etc) and automatic control (model-based) for their use in the mineral processing operations and the transfer of the project results to the sponsor companies.In parallel to more academic research work, a number of case-studies have been undertaken with the cooperation of partner companies. Among such works, a very successful one has been the design and installation of a new control strategy for one of the Kidd Creek (Falconbridge Ltd.) grinding circuits. This project was related to the evaluation of a number of control strategies and the implementation of one of them, as selected by the plant management, in the concentrator.A total of sixteen control schemes were evaluated on one of the dynamic phenomenological simulators developed at GRAHM, a trademark of this research group [ l]. The calibration of the simulator models was done based on industrial data gathered by GRAHM and Kidd Creek personnel. Then, the simulator was used to test the performance of various PID-based control schemes, designed to achieve the control objectives set by the Kidd Creek personnel. The best scheme proposed called for controlling the cyclone overflow particle size by manipulating the water addition rate to the cyclone feed box and the circulating load by manipulating the circuit ore feed. The particle size analyzer (PSI-200) available for monitoring the product size, was unfortunately shared (multiplexed) among various streams of the plant, which meant a 14 min delay between two consecutive readings for any particular stream. This induced the plant personnel to choose an alternative control strategy, one which controlled the cyclone feed density instead of the cyclone overflow particle size."

Jan 1, 1996

By D. Mu

A method is presented for evaluating the effective gas diffusion coefficient of porous media. A series of random-distributed porous solids with different porosity are generated, a solution of the gas diffusion equations inside the porous media is obtained using the finite element method (FEM), and then the effective gas diffusivities are computed. The results show that there is a percolation threshold sp, and this percolation threshold decreases with an increase in the connectivity of the pore network; the relationship between the effective diffusivity and the porosity is strongly nonlinear when the porosity £ is less than about 0.2; and is quasi linear for higher porosities. The threshold decreases with increasing the connectivity of the pore network. A formula relating the effective diffusion coefficient with porosity is proposed.

Jan 1, 2005

By R. Clarkson

"Free gold particles occur in many base metal and precious metal mines throughout the world. Due to the high density and malleability of gold, large circulating loads of free gold particles can build up over time in grinding circuits. This gold is often deposited in unintended traps throughout the mineral processing system.These unidentified free gold deposits represent a serious security risk as well as an inaccessible inventory of gold. Deposits of free gold particles often remain undetected by mine management until they are accidentally discovered while repairing mill equipment.Nuclear tracers have been used to determine the free gold recovery efficiency of gravity recovery equipment, drills, and sampling equipment (Clarkson, 1994, 1995; Walsh and Rao, 1986; Walsh and Kelly, 1992). In November, 1993, the author inspected the grinding circuit at La Mine Doyon in Rouyn-Noranda, Quebec and made recommendations to recover coarse gold and to eliminate gold traps from the circuit. In 1995, the author salted mineral processing circuits with radioactive gold particles. The gamma and X-ray radiation from gold’s nuclear isotope (Au198) were detected through steel, in pipes, and in moving equipment using scintillometers. The radiotracers proved to be a safe, rapid and accurate method of identifying gold traps and improving security.Nuclear TracersWhen particles of gold are placed in a nuclear reactor, some of the gold atoms (Au197) absorb another neutron in their nucleus to form gold’s radioactive isotope (Au198). In the process of radioactive decay, this isotope emits high energy gamma rays and X-rays which are easily detected (even through steel) with scintillometers.Radioactive gold (Au198) has a very short halflife of 2.7 days. At the relatively low activity levels used for tracing, the particles remain detectable with a small hand-held scintillometer for about 10 to 14 days. After 14 days the irradiated gold is close to background levels and within two months it is essentially non-radioactive. The radiation has no effect on the recovery characteristics of the gold particles. The gold radiotracers are very safe due to their very low level of radiation, short half-life, and their inherent physical and chemical stability. However, the use and possession of even mildly irradiated gold is strictly licensed and regulated."

Jan 1, 1997

By Evelynn Stirling

"The paper/presentation will review the evolution of diesel technology from older diesel engines (1990 vintage) through to the latest technology as a result of the ever changing emissions regulations. It will encompass the EPA Tier levels as well as the latest Euro Stage V emissions. The next step with technology will be to address the CO2 emissions, which translates to improving fuel efficiencies of the product as well as other technologies like battery electric, hybrid and fuel cells. As technology progresses it also becomes important to improve connective diagnostic systems to support maintenance practices and improve efficiencies. What will also be presented will be the key emissions changes to the different gaseous and particle mass elements as the products have transitioned from the EPA Tier 3 through to Tier 4 Final regulations. Offering a range of different technologies to the underground mining market matters as not all pieces of equipment will perform optimally due to its duty cycle and application. INTRODUCTION Rudolf Diesel built his first well-known prototype of the high-compression engine in 1897. Since that time, the diesel engine has evolved into one of the world’s most capable and reliable forms of power generation. Diesel engines can be found in a wide variety of vehicles and equipment, powering everything from agriculture and construction equipment to power generators and marine vessels. In the early days the emissions from diesels was very poor and extensive work has been accomplished over the decades to make the product more environmentally friendly. This is more important in underground mining where the space is limited and ventilation is expensive and challenging. DISCUSSION The key driver of the development of diesel technology is the legislation globally around engine emissions. The emission level requirements over the years has forced diesel engine manufacturers to build a deep technical understanding of the system and how to innovate and optimize key elements of the engine. Cummins expertise has been built over the years as the diesel engine has evolved from a relatively simple mechanical engine to an electronic system with advanced air handling, fuel system, after treatment, and controls. Cummins has also continued to expand into systems beyond diesel, including natural gas. Many new components have been added to diesel engines to reduce emissions while improving fuel efficiency and reliability and, at the same time, reduce the total cost of ownership to the customer."

Jan 1, 2019

By Sunil S. Gandhi

"The Mountain Lake deposit is a tabular sandstone-type uranium deposit, hosted by the basal unit of Middle Proterozoic Dismal Lakes Group. Uranium occurs mainly as sooty pitchblende disseminated in stratiform lenses within gently dipping quartzose sandstone. It is associated with copper sulphides, pyrite, hematite, and traces of nickel and cobalt arsenides and of silver.Exploration HistoryUranium showings on the PEC claim group were discovered during 1969 by an airborne radiometric survey carried out over the Dismal Lakes-Great Bear Lake area by Aquitaine of Canada Limited (Bizard and Salat, 1969). Some drilling was done in the vicinity of the showings in 1975 by the company under a joint venture with Eldorado Nuclear Limited but the results were not encouraging (Hassard and Woollett, 1975). During 1972, Trigg, Woollett and Associates Limited conducting surveys for Imperial Oil Limited, discovered numerous high-grade radioactive boulders scattered over a distance of several kilometres north and west of the showings, and the area north of the PEC claims was staked as the YUK claims (Ahuja, 1974). A systematic study of the boulder distribution and Pleistocene geology suggested a source additional to the showings. More intensive exploration followed, and in 1976 drilling just north of the PEC claim group boundary intersected the main deposit at a depth of 75 m to 150 m, beneath overburden up to 60 m thick. Part of the deposit extends into the PEC claim group which is under exploration by the Aquitaine-Cominco Joint Venture.The following brief description is based on the presentations in 1978 by F. Hassard of Trigg, Woollett and Associates Limited at the Geoscience Forum in Yellowknife, and by S.S. Gandhi of the Geological Survey of Canada at the Mineralogical Association of Canada Uranium Short Course in Toronto."

Jan 1, 1986

By B. W. Brooks

"After an extensive period of University research and field trials, large scale reclamation of the Waite Amulet tailings discharge areas commenced in the spring of 1978. The Noranda program consists principally of sampling the complete dam to determine the vegetation potential of the various areas, addition of the required amelioration materials, and the use of good agricultural practices. This paper describes the development work that led to the establishment of the Noranda-Guelph Contract and the subsequent findings concerning the revegetation of tailings dams. Current revegetation procedures are presented. INTRODUCTIONThe Amulet Mine Ltd. was staked in 1924 and by 1930 had constructed a small 300 ton per day flotation plant. During the late twenties and early thirties, Noranda Mines Ltd. increased its equity in the company to gain a sixty percent share of this small mine. In 1933 the mine was amalgamated with another small producer, the Waite Ackerman Montgomery Mine Ltd., which was more than eighty per cent controlled by Noranda to form the Waite Amulet Mines Ltd.An interesting historical side point to the story of the Waite Ackerman Montgomery property is that a concentrator was never constructed. In fact, the first ore to go through the Horne mill of Noranda Mines Ltd., built in 1928, was not from the famous upper H and L ore bodies but custom shipments from the Waite."

Jan 1, 1981

By Victor F. Hollister

Although none of the deposits discovered to date are of commercial interest, significant Frasch or sedimentary sulphur deposits occur in Nova Scotia in Upper Mississippian Windsor Group evaporites. The evaporite sequence contains anyhdrite and is overlain by impervious shales. It also is •mderlain by locally petrolijerous formations that are potential hydrocarbon sources for reaction with anhydrite to produce sulphur. As well, stratigraphic and structural traps are known to exist in the Mississippian beds. Thus, all requisites for sedimentary sulphur genesis are present. Available hydrocarbon sources are numerous but small; resultant sulphur deposits therefore are probably also small. Evidence suggests, however, that sulphur deposition is not yet complete.

Jan 1, 1984

By R. O. Loutfy, J. C. Withers

"Titanium powder is produced from a small fraction of sieved sponge, HDH of sponge or gas blown from a melt produced billet. Ore from foreign sources is chlorinated in a very high temperature fluid bed to make TiCl4, then vacuum distilled purified and then reduced to sponge by Kroll processing. Domestic ores of ilmenite or perovskite can be carbothermically reduced to Ti2OC which can be chlorinated at low temperatures of 250–400°C to produce TiCl4 which can be electrolyzed in a fused salt to Ti powder, or the Ti2OC used as an anode in electrolysis to produce Ti powder. The electrolysis process can be operated continuously to produce Ti powder at a lower cost than Kroll processed sponge including produce control size powder. Electrolysis processing was scaled up and operated at the commercial demonstration stage on a continued basis that verifies the potential of a low cost process to produce Ti powder.INTRODUCTIONTitanium and alloys of titanium powder have been elevated to strategic status resulting from a focus of producing meltless titanium components as well as a feed for additive manufacturing processing. However, the high cost of titanium powder has limited wide scale implementation of using titanium powder as a feed to any process to produce titanium components. Titanium powder free of alloying is available as sponge fines from the Kroll process as illustrated in Figure 1. Titanium alloy powder is much more expensive, also illustrated in Figure 1 produced from an alloy ingot or mil product as the feed and then transformed into powder by one of several melt form processes which accounts for the high cost of titanium alloy powder at approximately $60–150/lb. Ton lots of titanium alloy powder (i.e. Ti-6Al-4V) from one source is quoted at $120/lb. in the U.S. It appears that alloy powder production cost by current processing is not sensitive to volume."

Jan 1, 2016

By L. Tikasz

The primary purpose of ore hauling model studies is to capture the variability of the ore delivery ? stockpiling process in order to improve the estimation of equipment capacities and achievable throughputs. The operation of a mine-to-site ore delivery system is the subject of a number of challenges. Typically, ore is hauled by a given combination of trucks, conveyors and trains. In addition, ore loading, ore transferring to another means of delivery, stockpiling, reclaiming, and further deliveries involve many other types of equipment. The concurrent operation of all these units is scheduled; nevertheless, they are subject to planned maintenance and random breakdowns. To support our engineering design work on ore hauling operation, discrete event type models were built for each specific task. Then, due to recurring demands, an ore hauling library was gradually compiled. The now available model library allows fast and efficient simulation of various mine-to-site hauling arrangement, adaptable to various mining and mine construction operations (e.g. bauxite, iron ore, copper ore and coal).

Aug 1, 2013

By S. E. Wolfe

AKNOWLEDGE of the density of a pulp or suspension is frequently required by the millman, to whom fluctuations in density, which occur in all mill circuits, are of importance and interest. There ,are many w.ays currently in use to determine density and probably the most common method is to take samples of the pulp. The proper sampling of the material is no easy matter, particularly when the pulp contains a sand fraction which settles rapidly. For example, when filling a liter container from the overflow of a classifier, it is al-most impossible to fill the can completely and yet prevent overflow. If there is an overflow, the pulp remaining in the can invariably has an excess of sand and the indicated density will be too high. To surmount such difficulties, and to obtain a continuous indication of the density of a pulp at any desired depth, the simple indicator shown diagrammatically in Figure l was designed by the writer in 1951. Its component parts, numbered as in Figure 1, are as follows.

Jan 1, 1958

By Li Chongyang, Liu Baolan, Jia Xiaolin, Li Suping

An Al/Al2O3 gradient coating applied on a heat-resistant stainless steel was prepared through a slurry process by using aluminum and ?-Al2O3 powders as the transition filler material, alpha alumina as the surface coating material, aluminum dihydrogen phosphate as the binder, and sodium molybdate as the corrosion inhibitor. The effects of heat treatment temperature, adhesive/filler ratio and ?-Al2O3 content on the bonding strength, microhardness and thermal shock resistance were investigated. The crystal phase and microstructure were characterized by XRD and SEM. The results indicated that the composition of the coating changed continuously from surface to coating-substrate interface. The coating could offer high bonding strength and good thermal shock resistance when heat treated at 700°C.

Jan 1, 2010

By M. Mirnezami, J. A. Finch, M. S. Hashemi A.

The surface of -30µm silica suspension (2% v/v) treated with 100 ppm Mg2+ at pH 11 was fully coated with Mg(OH)2. Under this condition, the silica is strongly positively charged (+30 mV) and the suspension is dispersed. Subsequent addition of Ca2+ promoted aggregation and reduced the surface charge. At this pH calcium is present as Ca2+ and CaOH+, i.e., positively charged ions interacted with the positive surface. Aggregation by a chemical bridging mechanism is proposed. The observation may be relevant to the widespread practice in mineral processing of adding lime to promote aggregation and settling in concentrate thickeners.

Jan 1, 2004

By A. Rahmati

Geological and geo-statistical modeling of the ore deposits play a prominent role in resource and reserve estimation for geo-statistical evaluations. Sheytoor iron deposit is located in the Bafq iron ore district (Central Iran) and in the south-east of the Esfordi 1:100000 sheet. According to the geological data, limestones and dolomitic limestones are situated in the north and central parts of the area, on the other hand, iron ore outcrops are observable in the center, south-west and south-east of the studied area. Meanwhile this ore deposit represents a sulfide one. Based on the boreholes data, geological and geostatistical models of the high and low grade iron mineralization zones were generated by Rockworks v.15 software. The IDW method was selected and employed for processing the collected data and a good adaptation between the results was revealed. The distribution model of Fe concentration displayed a relatively high grade Fe in the center, south and south-east parts of the area. Furthermore, this model illustrated a relatively high grade S and P in some parts of the center, north and south-east of the area. The Fe concentration, in the high grade mineralization zone, was between 45 and 61.5%. In addition, in the low grade mineralization zone, it was between 3.64 and 57.64%. Moreover, in the intrusive granites, the Fe concentration was between 30 and 48.73%. Due to the significant amount of the sulfur in the deposit model, most of Fe-bearing minerals are pyrite, so it is recommended an evaluation on Cu-bearing minerals and their related elements in the area to get done. Additionally, there are too much Fe values in granitic zones which could be caused by possible measurement errors and the geological classification of the area. Therefore, it should be done more carefully.

Aug 1, 2013

By A. de Ville d’Avray, G. Guezennec, P. Wavrer, E. Braak

The aim of the European CEReS project was to develop an innovative copper recycling route based on the coprocessing of coal production waste by bioleaching and printed circuit boards (PCBs) from Wastes of Electrical and Electronic Equipment (WEEE). Coal waste is processed by bioleaching in stirred tank reactors, and the resulting bio-lixiviant solution is used to extract copper from PCBs pre-treated by catalytic cracking. Copper is then extracted using solvent extraction, stripping and electrowinning. The whole process flowsheet combines thermal, biotechnological, physical and hydrometallurgical operations. Once the process concept has been validated at laboratory scale, a simulator of the whole process has been built in the USIM PAC software platform. The tool enables to improve the analysis of the results of the lab-scale experiments and to design industrial-scale scenarios by simulation. The results of such simulations allow to estimate the economical interest and to perform environmental impact assessment. After presentation of the CEReS project objectives and main results, the paper describes the methodology used to build the simulator and define the scenarios corresponding to feasible process routes. The main results of the simulations are then presented with technical, economic and environmental point of views. INTRODUCTION Because of rapid technological innovations in the electronics industry, electronic waste represents the fastest growing waste stream in the world, especially in developing countries (Işildar et al., 2018). Meanwhile, the global copper demand is expected to go on rising in the future. As significant amounts of copper are present in end-of-life printed circuit boards (PCBs), it becomes a necessity to develop efficient copper recycling routes. Metal refining from e-waste is traditionally performed by pyrometallurgical processes. However, the hydrometallurgical processing of PCBs, which has been shown to be technically feasible at laboratory scale with a wide range of leaching reagents, could be a less energy intensive and more flexible alternative (Tuncuk et al., 2012). However, a large amount of leaching reagent is required to leach the metals from PCBs.

Jan 1, 2019

By L. Garrigues, M. Jarvis, M. Halhead, O. A. Bascur

"Large variability of ore types, escalating variables operating costs and increased throughput require large investment in sensors and systems in mineral processing operations. Mining and mineral processing plants collect and manage more data than a small city with much in real-time. The data is changing rapidly as internal and external conditions evolve. As corporations buy and sell assets, and reengineer their staff, the structure and tools that were used to understand this data is lost. This results in significant deterioration in the ability to maintain a smart operation. When data is recognized as a critical asset and managed as part of an infrastructure, it become a key enabler to help transform the entire operations. In many situations, all partners in business collaboration—such as join ventures, contract manufacturer, expert service providers, and operations and maintenance companies—need access to production and asset data. The emergence and maturation of Cloud technologies make it possible to easily connect the plants to external equipment suppliers and operational support service.This paper will share examples of how mineral processors have adopted new data strategies such as self-service business intelligence, cloud computing and internal/external collaboration.INTRODUCTIONOne of the main challenges in mineral and metallurgical processing plants is effective energy and water management. The lowering of ore grades requires higher throughputs while the ores are getting more complex with variable mineralogical compositions. Electrical energy supply is becoming a restriction in many countries. Rising water management costs has a direct impact on the profitability of the operations. Grade recovery versus energy consumption in copper production for both open pit and underground mines has been described by Fuerstenau (2001). Comminution uses over 55% of the energy to produce nonferrous metals while other operations require much less energy (Nelson, Richins, & Lelinski, 2013)."

Jan 1, 2016

By DON E. MacDONALD

Marl in Alberta is confined to highly specific geological, hydrogeologica/ and climatic settings. Tufa is fa irly abundant in those areas of western Alberta where bedrock is of the Paskapoo Formation. Marl and tufa originate when the following conditions are met: presence of a carbonate source in drift or nearsurface bedrock; leaching of the carbonate by percolating groundwater; transportation of calcium and bicarbonate ions in a permeable aquifer; discharge at the surface as springs, seeps or lakes; re-precipitation of calcium carbonate. Alberta has seven categories of marl and tufa deposits, based upon over-all depositional environment and calcium carbonate

Jan 1, 1984

By M. Hekmati1

SAG/AG mills have been most common choice in grinding circuits last decades. In the most cases, at the discharge of SAG/AG mills, a trommel screen is used that is equipped with baffles to provide appropriate residence time and improve separation efficiency. Using baffles, with the resultant maintenance requirements could lead to decrease in mill availability. In this research, an innovation in the structure of baffles of a trommel is presented. The results show that using new baffles led to 67% decrease in SAG mill downtime due to problems of baffles and 80% decrease in fine particles on recycle conveyor.

Jan 1, 2012

By Colin Jones

Canadian Clay Products Inc., which mines bentonite in Saskatchewan near Truax and operates a plant at Wilcox, is the sole producer of swelling bentonite, often called western bentonite, in Canada. Seven products produced by the company are used in binders, sealants, water and waste water treatment, plasticizing agents, foundries and absorbents. Reserves are reported at about one million tonnes for the deposit but the area in general contains significant additional reserves.

Jan 1, 2001

By José J. Suárez

Abstract: Globally, the mining industry is expected to face the following challenges through 2020: 1. Sustaining growth amidst fierce competition 2. Containing cost increases and managing through the cycle 3. Attracting and retaining talent 4. Managing environmental concerns and improving sustainability 5. Managing volatility risks in commodity markets Our experience and research reveals that the higher performing global miners are adopting many of the following strategies: (1) Adopt a Global, Agile Operating Model (2) Be the Developer of Choice (3) Drive Capital Efficiency (4) Be the Employer of Choice (5) Integrate the End-to-End Business Model (6) Move to the Virtual Mining Value Chain This paper/presentation will provide data obtained through research on five (5) challenges facing the mining industry, and on the six (6) strategies that high performing global miners are adopting.

May 1, 2013