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By T. R. Ellis

"In August 2013, the Appraisal Practices Board of the U.S. Appraisal Foundation issued its “APB Valuation Advisory #4 - Identifying Comparable Properties,” which contains analysis and examples that may suggest a broader meaning of the term “comparable properties” than is current convention in real property value appraisal in the United States and internationally. The advisory is directed at the appraisal of real property of all kinds, including interests in mineral properties, as indicated by the inclusion of two mineral property appraisal papers in the appendix that lists suggestions for further reading.This paper firstly reviews as background the historical meaning of a comparable property, with its perceived constraints, against real-world examples of transacted mineral properties that are adjusted to subject properties to provide market value indications. The advisory’s findings are then examined and evaluated as to whether they may influence and benefit the work of mineral property appraisers, particularly in situations where their sales comparison analyses may be challenged. The conclusion is that the combination of constraints that the advisory’s findings specify for use of the term “comparable” will for mineral properties be met infrequently or rarely. As a result, mineral property appraisers are advised to avoid using the terms comparable or “comp” when referring to transactions of mineral properties that they analyze to derive data for appraising the value of their subject mineral properties. IntroductionA mineral property appraiser rarely finds a sale of a mineral property that meets the literal meaning of the term “comparable sale,” by being directly comparable to the subject property of the appraisal in all factors of significance in the determination of the value of the property interest being appraised. Real estate appraisers have long used a more liberal interpretation of the meaning of comparable sale and its commonly used abbreviation, “comp.” Real estate appraisers compare sales to their subject property on the basis of price per hectare or acre of land and price per square meter or square foot of building floor area. Adjustments totaling to within the range of +30 to -30 percent from the sale property to the subject, before factoring in the property area, have generally been viewed as appropriate for the sale to be considered a comparable sale."

May 1, 2016

The mining industry is one of the three pillars of the Namibian economic development, besides tourism and the fishing industry. Generating 20 % of the GDP and more than 50 % of the export income, half of this amount derives from the diamond mining industry. In 2008, the annual production of 2.2 mio carat achieved an income higher than 1.44 billion Namibian Dollars (more than 750 mio Euro). After the global recession in early 2009, which also caused a significant downcrease in production to only 0.93 mio Carat, the diamond mining industry easily restored itself and the production figures for 2010 are expected to be even higher than those achieved in 2008. Compared to other diamond producing countries, Namibia is mainly producing diamonds of highest quality (jewellery quality), with less than 10 % of the mined diamonds not falling into this category. This high quality stands also for the worldwide highest prize achieved per carat. With 370 $US per carat it is more than four times higher than that of the average South African stone. In 1908 the finding of the first diamonds in the Namib desert close to the coastal town of Lüderitz was reported by a Mr Stauch, railway inspector for the then German colonial railway company. This event immediately triggered a Diamond Rush and subsequently the set-up of the restricted diamond mining area ?Sperrgebiet? through the German colonial administration. In 1913, only five years after the first mining operations had started, the steadily increasing production allowed for more than 20 % of the diamond production worldwide. After the First World War, the new South African government concentrated all mining activities in one organization, CDM (Consolidated Diamond Mines of South West Africa) which in following decades conducted an extensive and detailed exploration of the whole Sperrgebiet and started numerous new diamond mining operations.

Jan 1, 2011

By Ivan Caetano Machado

Good morning ladies and gentleman. During 1995 Prof. R. P. King (University of Utah Comminution Center) presented 2 papers on new horizons in comminution: "Comminution Research in the United States " was presented at the 1995 Meeting of the National Mining Association, while "Comminution: Meeting the Needs of Fundamental Research in the Mineral Industry" was presented at the 2nd SME Research Forum - 1995. In both papers a very interesting graph named "Energy usage for various comminution schemes" illustrated some poignant issues proposed by Prof. King. We do think that some of Prof. King's ideas might very well serve as "warm-ups" for this Comminution Panel Discussion, which are ultimately the goals to be reached by the 3-minute presentations. Thus, we shall be addressing in the sequence Prof. King's most relevant ideas (as well as introducing his graph), intending therefore show how important creative and state-of-the-art Mill Modeling is, if it is to become a Tool to Effective Cost-Saving Optimization Strategies.

Jan 1, 1996

By David B. Costain

Three dimensional surface approximations are important means of evaluating physical and environmental factors that affect surface coal mining and reclamation. Computer approximated surfaces are projected as an array of square grid cells where individual cells define each parameter value respective to locations on the grid. Grid surfaces or grid cells within a surface can be compared or modified through application of standard mathematical functions. Surface approximations can be used to define the quantity and quality of marketable coal and to evaluate thickness and quality of overburden. Surface approximations also can be used to evaluate overburden swell factors wherein changes in post-mine topographic relief are related to expansion of unconsolidated materials in the backfill. Application of computer approximated surface to analysis of approximate original contour (AOC) standards allows an assessment of the quantity and geographical displacement of overburden and the distribution and numerical level of slope.

Jan 1, 1984

By Howard M. Wells

Investment in minerals development usually entails big financial outlays. which will remain at risk for a long time before the venture can begin to generate a return cash flow. Before 'committing himself to such a venture the investor would be wise to carefully examine the possible consequences of his exposure to risk. In this context risk is defined in multiple terms, which relate the magnitude of possible loss with the probability that such loss may occur--normally the probability will decrease as the amount of possible loss increases. The analysis of risk is an essential component of the decision making process, especially so in the case of low grade high tonnage mining ventures where a very real possibility exists that future unfavorable circumstances may lead to losses that could cripple or ruin even the richest corporation. Wells (1979) postulates a rationale for making the investment decision under uncertainty based on the comparison of two independent risk criteria: 1) the risk inherent in the venture represented by the negative portion of the cumulative distribution of the net present value (NPV), as derived by a stochastic evaluation procedure, 2) the limits of risk the decision maker is willing to accept, taking account of the financial capacity-of the 'firm to absorb various levels of future cash shortfall should the venture prove disappointing. The chance the investor would be prepared to accept can be expected to decrease as the amount of the possible shortfall increases. The limits of acceptable risk are-defined by a curve called the "LL-curve" which can be directly compared with the cumu¬lative NPV curve. A positive investment decision is implied if the limits of acceptable risk are not exceeded.

Jan 1, 1982

Lingering effects of the 1990 oil shock that included overbuilding and corporate and individual financial distress caused the Gross Domestic Product to fall slightly to $5.67 billion (US billion = l09). With 254 million people - 697,000 in mining and petroleum - the US has more than 100 million dwelling units and 190 million licensed motor vehicles. New private housing starts fell 15% to one million units. New car production fell 11 % to 5.4 million units. Truck and bus production fell 8% to 3.4 million units. The inflation rate was 3%, while the prime rate of interest was 8.5%. The Producer Price Index (1982 = 100) changed as follows: -fuels and related products and power down 1% to 8l, • metals and metal products down 2% to 120, • chemicals and allied products up 2% to 126, and • non-metallic mineral products up to 2% to 117. Energy Imports of crude and refined petroleum, costing $50 billion, fell 5% to 2.8 billion bbl. Domestic petroleum production rose 1% to 3.6 billion bbl. Petroleum supplied about 39% of US energy, natural gas 24% and coal 22%. The National Energy Strategy was announced in February 1991. Its purpose is to encourage domestic production of fossil fuels and nuclear and renewable energy and to stimulate efficiencies in use. Congress continued to debate the strategy and took no action. Coal production fell 3% to 902 Mt (994 million st). About 60% of that came from surface operations. Seventy-eight percent of the total was used to generate electricity and 3% was coked.

Jan 1, 1992

By William Gleason

"When Dr. Joseph A. Holmes was named the first director of the U.S. Bureau of Mines in 1910, the challenge in front of the mining industry was urgent and profound. Just three years before the Bureau was formed, the United States’ coal industry saw a spike in fatalities, as 3,242 miners lost their lives, including 918 miners killed in 18 major disasters. Holmes, who is often called the Founding Father of Mine Safety, was charged with researching and finding new and safer methods to conduct mining activities as well as more efficient ways to conduct mine rescue to educate miners.The U.S. Bureau of Mines was dissolved in 1996, but the mission of the Holmes Mine Rescue Association remains intact, although the challenges have changed greatly.During the 102 years between its formation and the 2018 Joseph A. Holmes Safety Association & Holmes Mine Rescue Association Annual Meeting and Training Seminar in Denver, CO June 5-7, the mining industry has evolved to become one the safest industries in the United States, with an injury rate on par with school teachers and better than retail workers. The work of Holmes and the Bureau of Mines plotted a course for others to follow, and the fatality rate has plummeted to historic lows. However, those who work in the mining safety and health sector remain diligent to their cause and are slow to celebrate too much the accomplishments of the past century, focusing instead on the work that lies ahead.“The nature of mining accidents has changed and it is very difficult to make changes when you get down to the asymptotic part of the equation,” David Zatezalo, assistant secretary of the U.S. Mine Safety and Health Administration (MSHA) told Mining Engineering. He was the featured speaker at the Joseph A. Holmes Safety Association annual meeting’s banquet dinner and presented a thorough overview of the mission of MSHA and his goals as its top man.Nominated by President Donald Trump, Zatezalo was sworn in as the ninth assistant secretary for MSHA on Nov. 30, 2017 and brings with him a lifetime of experience in mining. During his presentation, he displayed the chart (Fig. 1) showing the dramatic improvement in safety that the industry has achieved during the past century, but he noted that, as the industry gets closer to its end goal of zero fatalities, it has become increasingly more difficult to cross the finish line."

Jan 8, 2018

By Roger K. McLimans

Sphalerite in the ores is multi-banded. Based on color and textures, bands in samples separated by a few kilometers may be correlated. Darkness of color is directly related to iron content. Isotopic and fluid inclusion data indicate that temperatures of ore deposition were 225°C-50°C. The agreement between these two sets of data suggests that chemical and isotopic equilibrium were established. The salt content and hydrogen and oxygen isotopic compositions are similar to present-day values of oil field brines suggesting a similar mode of origin. Ore transport and deposition are not adequately explained by either chloride or bisulfide complexing. Necessarily, other mechanisms were involved.

Jan 1, 1979

By Justin Jensen, Luis Moya, Jose Carlos Durazo, William Szolga, Tyler McCallum, Tim Doubleday

Sulfuric acid mist is an undesired by-product of the copper electrowinning process, caused by oxygen evolution at the anode which entrains droplets of the acidic copper electrolyte solution. As the oxygen moves to the surface of the cell, these droplets become aerosolized resulting in acid mist. The addition of chemical anti-misting agents to the copper electrolyte is a common mitigation technique. This paper details Syensqo’s laboratory development of a new environmentally friendly acid mist suppressant, ACORGA® EW98. The product exhibits excellent acid mist suppression and it is fully compatible with the adjacent solvent extraction process. Lab and pilot test results are reviewed ahead of future planned industrial trial testing.

Feb 1, 2025

In the late 1980s and into the 1990s, the Mountain Pass Mine in California produced about 40 percent of the world?s rare earth elements. At the height of this production, the facility produced up to 54 L/s (850 gpm) of saltwater that was piped to offshore holding ponds where the water was evaporated. In 1998, following a series of waste water pipeline breaches, separations activities were suspended, reducing the Mountain Pass site to just the openpit mine and mill. The environmental concerns were addressed and the affected areas have since been remediated. However, in the years following the breaches, 97 percent of the world?s production of rare earth elements moved to China. By 2011, Molycorp, and the Mountain Pass Mine, had rebounded from the difficult times and were once again in a position to become a significant player in the rare earth industry.

Jan 1, 2011

By V 9. 0 / 300 dpi

In the time period from the early 1980's to the present, longwall roof support technology has evolved tremendously. Chock supports and caliper shields were replaced by 2-leg or 4-leg lemniscate shields. The lemniscate linkage for which the support is named offers numerous advantages to the sup-port both as a fabricated structure and to its performance in the mining application. The hydraulic system, which is the dynamic element of the roof support, was essentially unchanged in early lemniscate shields with the exception of the complexity of additional hydraulic circuits to power a canopy tilt cylinder and canopy side-seals. The control of these fluid-powered functions was provided by direct manual control of valves energizing individual functions onboard the roof-support or the adjacent roof-support. This control valve-gear was comprised of multiple individual valves arranged in a "bank" or integrated into a single hydraulic distribution block with a single operating handle to select any independent function.

Jan 1, 1993

By Andrew Chegwidden, Tara Wilk

Construction of Shaft 17B-1, a part of The New York City water supply system, required an excavation of approximately 38 m (123 ft) through water-bearing overburden soil and more than 152 m (500 ft) of gneiss bedrock to make a connection to Water Tunnel No. 3. Ground freezing was the specified method to provide temporary earth support and ground water control for the overburden material. The ground freezing process relied on a supplemental geotechnical investigation and comprehensive laboratory testing of the frozen soil to evaluate the potential long-term creep behavior of the soil and the elimination of a temporary lining system. This paper describes that process as well as the drilling and installation methods of the ground freezing system. Additionally, the methodical system of excavation and insulation is discussed that permitted a safe and timely excavation followed by the installation of the permanent concrete liner.

Jun 13, 2023

By V. P. Petrov

There is a great number of asbestos deposits in the USSR. Some of them are quite large ones. The main deposits of chrysotile asbestos can be seen in the sketch map (fig. 1). Bazhenovo deposit situated in Sverdlovsk region is the largest of them. It is on mining operations since year 1889. Systematical studies of asbestos deposits were begun from the first years of Soviet Government and connected with the names of K.E. Tarasov, P. M. Tatarinov, B. J. Merenkov, N.D. Sobolev, F. V. Syromjatnikov, V. N. Lodochnikov, V.P. Petrov, V.P. Eremeev, L.A. Sokolova, V. R. Artemov, V.F. Dybkov and many others. This investigations served the USSR to be one of the most important producers of asbestos in the world. In the limits of the report a characteristic of the main asbestos deposits of the USSR may be done in general outline, from the point of view of their genesis, and in order to show their common features and differences that must be taken into account for forecasting, exploration, and mining of asbestos. All chrysotile asbestos deposits of the USSR were formed of magnesium rock as a result of comparatively lower-grade temperature hydrothermal alteration and free crystallization of fibrous chrysotile in open cavities that served as catalyst As a matter of fact an important mineral for industry is not chrysotile in general, a widely distributed rock-forming mineral, but a long fibrous and mainly vein variety of chrysotile. It must serve for geologists as an important prospecting criteria. A geologist should search for the mineral not only places of possible chrysotile generations, but places where asbestos may be crystallized in its long fibers that could be fiberized well. The Soviet geologists distinguish two groups of chrysotile-asbestos deposits: (1) related to ultrabasic rocks and (2) related to sedimentary dolomite terranes, taking into account what the maternal rock was affected by hydrothermal solutions. The largest deposits related to ultrabasite. The largest deposits in dolomite are small ones but their asbestos contains almost no iron. So much asbestos is a better filler into insulating plastics. There is a few types of asbestos deposits in the limits of the ultrabasic group. The largest of them is a Bazhenovo type which the deposits of Urals are attributed, and Bazhenovo deposits is the first instance. The Bazhenovo type is characterized by the most complete zonality in disposition of various kinds of asbestization. This type of deposits is practically the only one to be in working now in the USSR.

Jan 1, 1978

By Edward R. Mueller

As an alternative to a million dollar, sensor based, computer dispatching system, Cyprus Pima Mining Company has installed a home¬made analog computer. The device is used in conjunction with a standard radio-dispatching system; it is inexpensive and very simple to build and operate. It enables the dispatcher to make near opti¬mum dispatching decisions and to identify all off schedule haulage trucks. Since installation, Cyprus Pima has experienced significant increases in pit productivity.

Jan 1, 1977

By D. Malhotra

Most primary-molybdenite producers use a selective-flotation process in which molybdenite is floated from the ore while other sulfide and non-sulfide gangue minerals are depressed in the same step (Figure 1). The process was developed at the Climax mill. Reagents used in the rougher-flotation stage include vapor oil (collector), syntex (surfactant), pine oil (frother) and occasionally sodium cyanide and Nokes reagent (depressant). Rougher concentrate is upgraded by cleaner flotation to produce market-grade molybdenite concentrates. Reagents used in the cleaner flotation stage are Dowfroth 250, vapor oil, sodium cyanide and Nokes reagent. The development of the flotation reagent scheme at Climax and the role of the reagents have been well described by Born, et al, (1976) and Malhotra, et al, (1976, 1977a, 1977b, 1977c, 1980). The hydrocarbon collector, vapor oil, accounts for approximately 50 percent of the total molybdenite-flotation reagent cost. Because vapor oil sources are limited, and the cost of vapor oil has increased significantly over the last decade, several studies have been done to evaluate alternate oil-based collectors and/or blends of collectors which would produce similar metallurgical results at a reduced cost, or increase the overall molybdenite recovery at the same cost (Smit and Bhasin, 1983; Hahn, 1969; Smith and Bhappu, 1971). The approach taken in the present study was to evaluate alternate non-oil based collectors and collector systems that are less expensive than vapor oil.

Jan 1, 1985

By Joe Rigney, Conrad Stacey, David Nowak, Chris Blanchard, Michael Beyer, John Czach

Originally constructed in the 1930s, the 1-mile-long Sumner Tunnel is 31 feet in diameter and carries traffic deep below Boston Harbor, connecting Boston and East Boston. This project includes both design and construction for the rehabilitation of the nearly 100-year-old tunnel. The primary work includes repairing advanced deterioration at the tunnel crown with new precast arches that will add protection and strengthening. The restoration also consists of upgrading the tunnel systems, including permanently removing 75% of the existing exhaust duct suspended over the roadway to improve the overall ventilation system capacity and performance.

Jun 23, 2024

By G. E. Erdman

This paper presents talc milling guided by a theme of "So You Want to Be In The Talc Business". Such a theme strikes a cautionary note to warn the uninitiated of potential pitfalls, and this paper will cover briefly some of the technical traps as well as one of the larger talc milling operations. It is important to our purpose to pre- sent some of the market and mineral complications that make the business of producing and selling industrial talcs much more intricate than an outsider would perceive. Metal markets by comparison are great worldwide pools into which production streams of generally identical metals can flow over a weir of market prices. Industrial talc markets are not as well defined and often must be developed by the producer working closely with a specific customer or groups of customers to prove out the attributes of the specific product from a new property. All the negatives of a new market seem to work against the introductory talc in the forms of industry or customer reluctance to change, sales prices, cost of delivery, mode of transportation, health considerations of the minerals and many more. Just locating the potential customers for a new industrial talc may be a substantial undertaking. Thus, an analogy of the worldwide metal market might compare starting a new talc operation to trying to gather up enough fallen rain drops to be able to start a production stream of a worthwhile size.

Jan 1, 1984

By Donald M. Duncan

An acceptable source of concrete aggregate is available in Kansas City in a continuous, medium bedded, slightly dipping limestone unit. Removal is accomplished in shallow depth, 12 feet to 17 feet high, room and pillar mines. The accepted empirical design spaces 20 foot pillars 60 feet on center. A portion of the 20 foot unit is left in place for roof support. Rock and soil cover is variable to 100± feet maximum. Long-term stability of these mines is affected by numerous factors, including the above mine-rock profile, ground water conditions and mining practice. Crusher-run aggregate sells at the mine for $2.20 per ton, yielding a gross income of $2.00 to $2.80 per square foot of mine. Use of mine space for real estate development requires a new perspective in mine development. Mining practices to obtain long term stabile structures can become an over-riding factor as compared with minimum production costs and maximum extraction ratios. Poorly mined areas are unusuable for secondary purposes. Development cost for lease space in less desirable mines is substantially greater than those planned for a secondary use. Real estate development in mine space involves unique engineering problems. Properly engineered developments offer singular advantages. Warehouse lease space sells for $.50 to $1.00 per square foot per year; fully developed office areas may double these values.

Jan 1, 1968

By W. M. Tuddenham

It would be most difficult to place a date on the beginning of the revolution in analytical techniques that we have witnessed in recent years; but there is no question that the period since the end of World War II has seen a major change in thinking with respect to control and accounting analyses. For reasons relating to competition, much of this change was brought about in the chemical industries and only more recently has begun to affect directly the mineral industries. In considering the subject outlined in the title of this paper, one might well be tempted to discuss solely the more exotic methods of control and automation which have come into being in the past short while. In this paper, however, an attempt will be made to take a broader view and consider not only the application of newer purely physical methods of control but also those phases of chemical plus physical analyses that have bearing on our industry.

Jan 1, 1962

By Sue W. Wells, James J. Moore, Stephen D. Lynch, R. Hunter White

This paper describes the products and services that Phelps Dodge Corporation desires from solvent extraction reagent suppliers and the partnering relationship that Phelps Dodge wishes to develop with these suppliers. Product topics include: 1) manufacturing concerns, 2) product and process quality control reporting and 3) reagent customizing to meet individual plant needs. Service subjects include distribution, delivery time, emergency re-supply, terms, and tailoring technical support. The partnering relationship discussion reviews mutual benefits, communications, reliability, cross-functional teams for problem solving and developing new opportunities, and long-term commitment.

Jan 1, 1994