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By C. D. Ashley, X. P. Garzon-Villalba, R. M. Lopez, T. E. Bernard

Federal standards for refuge alternatives (RAs) mandate that they not exceed a Steadman apparent temperature (AT) of 95 °F (35 °C) at an assumedmetabolic rate of 325W, a limit that appears to be arbitrary. Occupants in an RA spend most of their time at rest (a metabolic rate less than 325 W), and thermal equilibrium can likely be maintained at an AT > 35 °C. The purpose of this study was to examine the upper limit of sustainable heat stress during 4- and 8-h exposures at rest. Five men underwent five 4-h trials (phase 1: AT range 39 to 49 °C, 90% rh) and five 8-h trials (phase 2: AT range 46 to 56 °C, 90% rh) in a semi-recumbent position. Descriptive statistics for gastrointestinal temperature (Tgi), heart rate (HR), systolic and diastolic blood pressure (SBP and DBP), sweat rate, fluid intake, urine color, urine specific gravity (USG), and changes in body mass are reported. Mean Tgi for all trials ranged from 36.9 to 37.3 °C, and mean HR for all trials ranged from 61 to 75 bpm. To determine the effects of increased heat exposure, differences in heat strain between 4- and 8-h trials were examined via repeated measures analysis of variance (ANOVA). As AT increased, there were no significant changes in ?Tgi and ?HR from 1 to 4 h in the 4-h and 8-h trials. During the 8-h trials, as AT increased, there was a difference in ?Tgi between 4 and 8 h. In conclusion, there was support for sustainable exposures resulting in no significant increase in physiological strain at an AT greater than 35 °C AT, with a sustainable limit (no increases in Tgi due to increases in AT) below 46 °C AT. Although the participants were not representative of coal miners, the results provide support for sustainable exposures greater than 35 °C AT at an average metabolic rate of 155 W.

Nov 8, 2019

By S. Hamilton

Borates are essential to life, and to many products that are essential to an acceptable standard of living. They occur naturally in seawater at an average concentration of five milligrams of boron per liter. Fresh water lakes, rivers, streams and ground water generally have concentrations of about one milligram boron per liter. Borates are also present in soil at concentrations ranging from 0.1 to three milligrams of boron per kilogram. Because most of that boron is locked into insoluble minerals, clay or organic matter, boron deficiency is more widespread than boron enrichment. Borates evaporate into the atmosphere from seawater, rain, snow and hot springs. In rain and snow, natural boron concentrations range from 0.002 and 0.1 milligrams boron per liter. All told, boron moves through the atmosphere at a rate of 5 Mt to 7 Mt/a (5.5 million to 7.7 million stpy).

Jan 1, 2005

By K. Huttu, A. van Wageningen

"The Kittilä underground mine in northern Finland is extracting one of the largest known gold deposits in Europe. Kittilä achieved commercial production on May 1, 2009, becoming Agnico Eagle’s first mine to open outside of Canada. The Kittilä orebodies were initially mined from two openpits – Suuri and Roura – and underground operations were added in October 2010. The pits were mined out in November 2012, so mining is now entirely underground in the Suuri and Roura deposits. Additional, small openpits will mine any remaining near-surface reserves in the future.The Kittilä Mine is located in the Lapland region of northern Finland, approximately 900 km (560 miles) north of Helsinki and 150 km (93 miles) north of the Arctic Circle. With a mine life estimated through 2034, Kittilä is Agnico’s longest-life mine.The mine’s proven and probable reserves contain 32 Mt (4.7 million oz) at 4.6 g/t (0.13 oz/ st) gold. Ore has been mined from underground since 2010. The original 3 kt/d (3,300 stpd) operation underwent an expansion project to increase the throughput capacity of the mill by 1 kt/d (1,100 stpd), starting by the end of 2014.The region around the Kittilä Mine is underlain by mafic volcanic and sedimentary rocks of the Kittilä Greenstone Belt oriented nearly vertical. This greenstone belt is similar to those hosting Agnico Eagle’s Canadian deposits in Quebec’s Abitibi region and Nunavut. At the contact point between ironrich and magnesium-rich rocks lies a 100- to 200- m (330- to 660-ft) thick structural zone known as the Suurikuusikko Trend. This trend hosts the Kittilä deposit, where multiple mineralized zones have been traced over a strike length of more than 25 km (15 miles).Most of Agnico Eagle’s work has focused on a 4.5-km (2-mile) segment of the Suurikuusikko Trend that hosts the five main zones of the known gold reserves and resources. From south to north they are: Ketola, Etela, Suuri, Roura and Rimpi.The ore at the Kittilä Mine is refractory, making gold extraction relatively difficult because the gold is generally locked inside the two main sulfide minerals – arsenopyrite and arsenic-rich pyrite. Only about 4 percent is very fine-grained “free gold” (not locked in sulfide grains) and easier to extract. Most of this free gold is found in the outer, oxidized or eroded sections of the ore."

Jan 1, 2015

By G. Abramov

The 20th Century saw the modern mining industry enriched by one outstanding method of extracting of mineral resources called Borehole Mining (BHM). Mean while, despite its successful track record in wide ranging locales, few specialists are yet aware of this technology. The intent of this article is to introduce borehole mining to a wider spectrum of drilling and mining professionals. The BHM method is based on in-situ water jet cutting of rock mass. On Fig. 1 the schematic of the method is presented. The borehole mining tool 1 is lowered into the borehole 2 and high pressure water 3 is pumped down. At the bottom part of the tool, one portion of that water comes out through the hydromonitor nozzle 4 in a shape of water jet 5 and cuts the material 6 creating slurry 7. The other portion of high pressure water then comes to the hydroelevator 8 (jet pump, eductor) which produces a vacuum. When the slurry reaches this vacuum zone, the eductor sucks the slurry and pumps it up to the surface, where rock parts are separated from water in a tank 9 or a pond and clarified water is pumped down again closing the re-circulating BHM water supply system. The borehole mining tool is suspended on a drill rig tower 10 which allows the tool to rotate and move vertically along the borehole axis. While extracting rock mass, underground caverns (stopes) 11 are created. If necessary, compressed air 12 can be injected to the raising slurry flow to create an airlift effect. Also, a secondary agent 13 (such as oil, foam, etc.) can be added to the stope through the gap between the tool and the casing. As seen from the illustration, BHM is the remote mining method of extracting of mineral resources through boreholes by high pressure water jets.

Jan 1, 2001

By F. Mielli

Camera systems and video surveillance are usually associated with people and asset protection. However, they can be applied in a mine environment beyond conventional surveillance: For process monitoring, collision avoidance, sizing, flotation cells, conveying systems, blasting, objects and people tracking, thermal profile, and to automatically identify equipment that is missing parts,. Image and video solutions can be driven by better integration of powerful video analytics and cameras systems in automation tools such as process controllers and supervision systems.

Feb 27, 2013

By Lawrence Pelham

Introduction Fluorspar demand or consumption has been taken for granted in recent years, except for those that produce, market, or consume the commodity. Thinking used to be that as the steel and aluminum industry goes, so goes fluorspar. This is much less true today. The industry is becoming more dependent on chemical industries that feed primarily off hydrofluoric acid (HF) production. The US Bureau of Mines (USBM) published an assessment of world fluorspar reserves and resources. It created a foundation of valuable data that can be used to monitor fluorspar availability. Celebrations were held this year commemorating the 100th anniversary of the isolation of fluorine. The US and other countries continue to struggle with the controversy of ozone depletion and the effect of fluorocarbons on the atmosphere. Goals for the government's strategic stockpile are being reevaluated. The market for fluorine chemicals is changing and diversifying, making it a challenge to assess and forecast fluorspar/fluorine demand. US production and distribution Fluorspar Fluorspar shipments from US mines reached an all-time high near the end of World War II in 1944 at 375 kt (413,800 st). Eighty-two mines produced more than 453 t (500 st) each, and 10 mines produced more than 9 kt (10,000 st.) each. Illinois supplied 43% of total shipments. Consumption in 1944 was 372 kt (410,200 st), of which 56% was used by steel producers and 32% by HF producers. This was the last year that US production exceeded US consumption. The post-World War II record for fluorspar shipments occurred in 1951 at 315 kt (347,000 st) 58 mines produced more than 453 t (500 st) and eight mines produced more than 9 kt (10,000 st).

Jan 11, 1986

By Brian Fulcher, Michael Bell, Shimi Tzobery, Werner Burger, John Bednarski

The Arrowhead Tunnels Project represents the final portion of a 70 km (44-mile) long water conveyance facility that will bring up to 28 m3/sec (1,000 ft3/sec) of water into Southern California. The 13 km (8-mile) tunneling project is well underway and consists of two, 5.8 m (19-foot) diameter TBM bores through extremely variable geological conditions. The tunnels lie near the base of the San Bernardino Mountains and several significant faults including the San Andreas Fault run within one kilometer (0.6 miles) of the tunnel alignment. Numerous other significant faults cross the tunnel alignment and water pressures in the tunnel have been recorded as high as 20 bar (300 psi). This paper describes some of the problems and challenges encountered and the solutions implemented to advance the two hybrid TBMs under conditions that ranged from hard rock with no water inflows to full-face granular material under 10-bar pressure and in excess of 32 l/sec (500 gpm) inflows. Due to the range and severity of ground and water conditions actually encountered, the Owner-Contractor-Designer team eventually found that adjusting the means and methods to be more responsive—virtually on a day-by-day basis—was needed to suit the conditions

Jan 1, 2007

By Thomas Novak, Sampurna Arya

Controlling dust generation and keeping it below permissible limits to meet federal dust standards at the working face of a roomand-pillar coal mine is a challenge for a mine operator. With the recent changes in federal dust regulations requiring lower worker exposure, maintaining compliance has become increasingly difficult. The current most effective practice of dust control at a continuous miner face in an underground mine is the use of a flooded-bed scrubber. A study carried out by the National Institute for Occupational Safety and Health (NIOSH) indicated that a flooded-bed scrubber could achieve cleaning efficiencies between 58 and 90%. But, the operation of such a system is maintenance intensive. The flooded-bed scrubber screen becomes clogged with dust particles and requires frequent cleaning to maintain performance. However, the dust control issue is not solely a mining industry problem. Other industries face similar issues. The University of Kentucky collaborated with Toyota Motor Manufacturing on the development of a novel wet scrubber, called the vortecone scrubber, for capturing oversprayed paint particles in automotive paint booths. The vortecone scrubber achieved a cleaning efficiency of 99% and required minimal maintenance. This study aims to assess the ability of this vortecone scrubber to capture respirable dust in an underground coal mine. The paper presents the results of computational fluid dynamics (CFD) modeling of this vortecone scrubber. It discusses the effects of air quantity and dust particle size on the performance of the scrubber.

By D. Symonds, A. J. Richins, M. G. Nelson

Mining activities at Kennecott and Park City are similar in that both districts began operation in the last half of the 18th century, and both operated on a large scale for many years. However, they are different for two important reasons. First, the mines in the Park City district were always underground. The city of Park City was above many of those mine workings. It remained in place after mining activity stopped, and as the town became an up-scale ski resort, property values increased and the tailings dumps became desirable building sites. In contrast, Kennecott eventually became an open pit mine, and the growing pit effectively consumed many of the small towns that had grown up around the underground workings. Even towns on the periphery of the open pit were razed to allow for the disposal of mine overburden. Second, almost all mining activity stopped in Park City in the early 1970s, just as the first rigorous environmental legislation in the United States was enacted. (The Ontario mine operated sporadically until 1982.) Many mine structures, waste dumps, tailings ponds and piles, and tunnels were simply abandoned as the mining companies ceased business or were bought out. Kennecott, on the other hand, has been in continuous operation for more than 120 years, so a closure plan hasn’t been finalized. Nonetheless, environmental and social problems have arisen, and the company has had to address them.

Mar 2, 2022

By J. Noll

There is a need for direct tailpipe sampling of diesel vehicles in mines in order to determine the effects of an emissions-based maintenance program, evaluate control technologies such as diesel particulate filters and identify the worst diesel particulate matter (DPM) emitters in a fleet of vehicles. therefore, this study examined the performance of three portable instruments: a personal dust monitor (PDM) manufactured by thermo Scientific, a prototype elemental carbon monitor (Airtec) manufactured by FLIr and a prototype Ae91 instrument from Magee Scientific. These instruments were evaluated on the basis of their ability to provide direct reading tailpipe analysis for DPM. It was determined that the average bias of the tailpipe results from the PDM and the Airtec were 3±12% and 4±20%, respectively, when compared to the standard method of determining tailpipe particulate concentrations from a diluted exhaust. It was also determined that the Ae91 instrument correlated with the standard method.

Oct 1, 2013

By Christopher Snee

??care has to be taken that the design is driven by sound geological reasoning and rigorous engineering logic rather than by the very attractive images that appear on the computer screen.??Hoek 1999 Design of a cavern is inextricably linked to the engineering geology of the site. The importance of sound geological reasoning will be illustrated by transportation projects in New York City where there are proposals for at least 11 caverns. These caverns have been the subject of advanced exploration techniques and geological interpretation but even so the raw data falls short of the sophistication of modern numerical methods. This paper will give geological explanations for the engineering characteristics of the rock in New York City which will provide guidance for practitioners when approaching cavern design in New York and elsewhere.

Jan 1, 2008

By Jerry C. Tien

In 2009 China mined 2.695 billion metric tones (Gt) of raw coal. It is estimated that only 3-5% or roughly 135 million metric tones (Mt) of these were mined from 300 some surface operations. Except for a dozen or so large modern operations, most of China's surface coal operations are small by western standards, with annual production ranging from a few thousand tones to 300,000 metric tones (mt). Depending on the size of operations, equipment used range from small trucks and shovels to large bucket wheel excavators and draglines in sizable pits. This article provides a brief overview of China's surface mineable coal reserves, mining methods commonly used and increasing environmental concerns; introductions of several large surface operations are also provided.

Jan 1, 2012

By Ihor A. Kunasz

Lithium minerals occur predominantly in pegmatites that contain mineral assemblages derived from the crystallization of post- magmatic fluids or from the metasomatic action of residual peg- matitic fluids. They have been the traditional sources of raw material for ceramic and chemical industries. With the discovery of the Searles Lake deposits, brines became new sources of lithium, and, today, two brine deposits satisfy nearly one-half of the free world demand for lithium chemicals. Indeed, lithium production from pegmatites has been superseded by brines sources. In the United States, the brines of Clayton Valley, NV, have been exploited since 1964 by Cyprus Foote Mineral Company, a subsidiary of Cyprus Minerals Company. In Chile, Sociedad Chilena de Litio Ltda., an affiliate of Cyprus Minerals Company, is now producing lithium carbonate from the brines of the Salar de Atacama. Recently identified brine deposits suggest that these may well become the prime sources of lithium chemicals. In Bolivia, the government is negotiating the rights to exploit the brines of the Salar de Uyuni. The Salar del Hombre Muerto in Argentina is being evaluated as a future center of chemical production. The brines of the Great Salt Lake of Utah, the Smackover Formation, and the Imperial Valley geothermal field have been defined as important resources of lithium. In Tibet, high concentrations of lithium have been reported in several saline lakes. In the People's Republic of China, lithium may be produced from the brines of the Dabusan playa in the Qinghai Basin. The 1950s saw a great number of lithium companies develop. However, following the termination of the Atomic Energy Commission purchase program in 1959, several companies, such as Maywood Chemical Co., American Lithium Chemicals, and Quebec Lithium Corp., were forced to close their operations. Nevertheless, with the development of new applications in glass ceramics, air conditioning systems, synthetic rubber, and metallurgy (aluminumpotlines), the lithium industry grew steadily. With the potential application of lithium metal in batteries, nuclear reactors, and fuel cells, a steady growth can be foreseen. New products and new applications are likely to stimulate exploration for expanded reserves as well as the search for new sources from which lithium could be extracted economically. Presently identified reserves and production capacity are sufficient to satisfy the conventional market growth of lithium.

Jan 1, 1994

By F. L. Pirkle, W. C. Bagby

The International Mineral Valuation (IMVAL) Committee, founded in 2012, develops strategies for conducting mineral valuations. These strategies have been developed into a mineral asset valuation template called the International Mineral Property Valuation Standards Template and is part of IMVAL's work to establish consistent international standards for mineral property valuation and reporting. This template is a living document that is updated from time to time and is based on three core values or pillars (Fundamental Principles): Competence, Materiality, and Transparency. Objectivity, Independence, and Reasonableness may be applied as required by national codes or standards. The Template harmonizes international standards for valuation of mineral assets as real property and represents a consensus of current good practices. It is not a stand-alone reporting code and does not supersede existing national reporting standards. The Template deals with mineral-property valuation as distinct from mineral-project evaluation. INTRODUCTION In his 1989 book, “The New Realities”, Peter F. Drucker, Clark Professor of Social Science at Claremont Graduate School, California, stated: “Information is data endowed with relevance and purpose. Converting data into information thus requires knowledge. And knowledge, by definition, is specialized.” (p. 209) The discipline of mineral valuation is knowledge-based and requires a mineral valuer to collect, analyze, and interpret data that are material to a mineral valuation assignment. In so doing, the valuer turns the data into information (data come first, followed by information as determined by the mineral valuer) for use by the client (from whom the valuer obtained the mineral valuation assignment) and other intended users. The valuer uses his or her experience and education (each valuer’s knowledge base) supported by a foundation built upon competency, materiality, and transparency, the three pillars of mineral valuation (“minerals valuation”, “mineral-property valuation”). The International Mineral Valuation Standards Template (“IMVAL Template”, IMVAL”, “Template”), third edition dated May 2018, defines mineral valuation as: “The estimation of the Value of a Mineral Property in money or monetary equivalent. The word ‘valuation’ can be used to refer to the estimated value (the Valuation conclusion) or to refer to the preparation of the estimated Value (the act of valuing).” (p. 14) Furthermore, the IMVAL Template clearly separates valuation from evaluation: “The Template deals with Valuation, which is distinct from Evaluation. The distinction inherent in these defined terms is that Valuation addresses the estimation of value of a Mineral Property, whereas Evaluation addresses the broader assessment of a Mineral Property for an investment decision.” (p. 2)

Jan 1, 2019

By J. F. Burr, D. P. Snyder, G. W. Luxbacher

"The Mine Improvement and New Emergency Response Act (MINER Act) of 2006 (PL 109-236, 2006) established the Office of Mine Safety and Health, functioning as the Office of Mine Safety and Health Research (OMSHR) within the National Institute for Occupational Safety and Health (NIOSH) and provided authority for awarding contracts related to the development and implementation of new mine technology and equipment. The OMSHR external contracts program was formed in accordance with the MINER Act and has since issued more than 150 contracts focused on worker health and safety. Initial funding for this program was provided by the United States Congress through two emergency supplemental appropriations and was focused on emergency oxygen supply, communications and tracking, and refuge chambers (also referred to as refuge alternatives). Since the MINER Act, Congress has continued to fund the program through the annual NIOSH mining appropriation. The program was supplemented starting in 2009 with an academic capacity building program directed toward developing university tenure-track faculty and facilities and supporting graduate students in the area of mine ventilation. Ground control was added as an additional focus area in 2011. A short synopsis of each contract is published on the NIOSH Mining website (www.cdc.gov/niosh/ mining/researchprogram/contracts/index.html) and final reports are available in digital form on request. A summary of the progress OMSHR has made over the 10-year period since the Act was published previously (Snyder et al., 2016).External contracts are broadly classified by the following areas:• Communications and tracking.• Emergency response.o Self-escape and breathing air supply.o Refuge alternatives.o Escape and rescue.• Equipment safety.• Fires and explosions.• Ground control.• Mine environmental systems (mine ventilation and atmospheric monitoring).• Worker/workplace health and safety.Contracts are issued under a request for proposal (RFP), through a broad agency announcement (BAA) or under an interagency agreement (IAA). An RFP solicitation includes a specific problem description and a well-defined scope of work to guide the offeror in preparing a bid to conduct the research. Under the BAA several problem areas are described and the offeror develops the scope of work and deliverables for the proposed research. An IAA is very similar to an RFP except it is a contract between two federal government agencies."

Jan 10, 2018

By S. Bhattacharyya

"Coal bearing rocks are low in strength and have geological discontinuities and moisture sensitivity. Roof and rib falls have been a major cause of fatalities in underground coal mines. Mine engineers design ground control plans for regulatory approvals. A number of tools are available from the National Institute for Occupational Safety and Health to design and assess these plans. Quite often there is not enough geotechnical input information available and databases are used. The Appalachian coalfields have extensive scientific studies to provide reliable regional inputs. Coal mines in the western United States and Canada have different geological and geotechnical conditions, and less available data. Use of inappropriate inputs in the tools like Analysis of Retreat Mining Pillar Stability, Analysis of Longwall Pillar Stability, and Analysis of Roof Bolt Systems may result in unsafe designs or over conservative designs. The tools are convenient but thorough understanding of the inputs, calibration with local test results, and operating experience are important for effective designs. The current paper contains examples of difficulties faced during mine planning using the above tools. INTRODUCTION Sedimentary rocks hosting coal are low in strength. Scientific studies have placed the uniaxial compressive strength (UCS), triaxial strength, tensile strength, and shear strength of sandstone, shale, siltstone, and claystone in lower range of strength among engineering materials (1). Coal bearing rocks are most often weakened by the presence of faults, folds, slickensides, bedding planes, fractures, and other geological discontinuities. The host rocks and coal are often moisture sensitive. The geological discontinuities allow water to enter the strata from surface and underground sources. This combination of low strength, structural weakness, and presence of water results in difficult ground control situations for the coal mines. Roof (2) and rib falls have been a major cause of fatalities in the U.S. coal mines. Modern underground coal mines necessitate wide entries to accommodate large production equipment. The gate roads, section entries, and the mains entries of a highly productive coal mine are as wide as twenty feet (6.1 m). The actual intersection width is nearly thirty feet (9.1 m). Adequate ground control is a key to maintain safe production in such mines. Mine engineers and their consultants routinely submit ground control plans to the regulatory authorities. While working out the necessary roof control system the mine engineers are required to demonstrate the adequacy of the proposed system. There are multiple ways to demonstrate this. Some engineers use traditional load calculation approach of roof bolts (3). Some engineers use numerical methods. Yet a large number of professionals resort to a suite of ground control design software offered by National Institute for Occupational Safety and Health (NIOSH) commonly referred to as “NIOSH Ground Control Toolbar.” These software tools are free and easy to download from NIOSH website. The software included in this package are: Analysis of Longwall Pillar Stability (ALPS), Analysis of Retreat Mining Pillar Stability (ARMPS), Coal Mine Roof Rating (CMRR), Analysis of Roof Bolt Systems (ARBS), Analysis of Horizontal Stress Effects in Mining (AHSM), Analysis of Multiple Seam Stability (AMSS), Analysis of Retreat Mining Pillar Stability - Highwall Mining (ARMPS-HWM). These tools are relatively simple to install and use in planning and designing coal mines and prospective coal mines. They accept a number of geotechnical inputs which are collected from either an existing mining operation or from exploratory boreholes. In the absence of necessary input parameters, the programs use default values which are drawn from databases of geotechnical properties built by NIOSH."

Jan 1, 2015

In the grand scheme of things, the 9.5-t (21,000-lb) shipment of molybdenum concentrate that left Freeport-McMoRan?s Climax Mine site on May 10, 2012 was not unlike the thousands of others that have been hauled away from the site during the last century, except for the fact that this shipment marked the official rebirth of one of America?s greatest mines. For nearly two decades, 17 years to be exact, there was no production from the mine that was once the largest underground mine in the world and was so important to the Allies? effort during World War II that it was assigned the highest priority of any mine in the United States by the War Production Board. The economic recession in 1980 put an end to the mine?s success, and the Great Recession of 2008 nearly derailed the mine again. But, like the nearby town of Leadville, CO, the mine survived thanks to an investment of more than $700 million by Climax Molybdenum Co., a Freeport-McMoRan company, to bring the Climax Mine back into production.

Jan 1, 2012

By CASSANDRA L. HOEBBEL, Emily J. Haas, MARGARET E. RYAN

Researchers examined datasets from two separate studies that measured common demographic variables but different safety performance outcome variables. Of specific interest was how types of experience might relate to workers’ preparedness to effectively mitigate or respond to both routine and nonroutine risk in the mining industry. The results suggest that individual factors such as length of job, industry, and mine experience are predictive of routine safety performance — as measured by self-reported proactive and compliant safety behaviors — and/or nonroutine safety performance — as measured by perceived competence in self-escape knowledge, skills and abilities (KSAs) — in significant and sometimes unexpected ways.

By F. L. Pirkle, W. C. Bagby

"In his 1989 book, The New Realities, Peter F. Drucker, Clark Professor of Social Science at Claremont Graduate School, Claremont, CA, stated: “Information is data endowed with relevance and purpose. Converting data into information thus requires knowledge. And knowledge, by definition, is specialized” (p. 209).The discipline of mineral valuation is knowledge-based and requires a mineral valuer to collect, analyze and interpret data that are material to a mineral-valuation assignment. In so doing, the valuer turns the data into information (data come first, followed by information as determined by the mineral valuer) for use by the client (from whom the valuer obtained the mineral-valuation assignment) and other intended users. The valuer uses his or her experience and education (each valuer’s knowledge base) supported by a foundation built upon competency, materiality and transparency, the three pillars of mineral valuation (minerals valuation, mineral-property valuation).The International Mineral Valuation Standards Template (IMVAL Template), third edition dated May 2018, defines mineral valuation as: “The estimation of the value of a mineral property in money or monetary equivalent. The word ‘valuation’ can be used to refer to the estimated value (the valuation conclusion) or to refer to the preparation of the estimated value (the act of valuing)” (p. 14).Furthermore, the IMVAL Template clearly separates valuation from evaluation: “The template deals with valuation, which is distinct from evaluation. The distinction inherent in these defined terms is that valuation addresses the estimation of value of a mineral property, whereas evaluation addresses the broader assessment of a mineral property for an investment decision (p. 2).”This is an important difference because the minerals industry commonly makes investment decisions using feasibility studies to evaluate a proposed mineral development and production project. The purpose of such investment-decision analysis is distinctly different from valuation of a mineral property, no matter where that property lies upon the mineral explorationdevelopment- production-reclamation timeline (Fig. 1). Valuation involves terms such as market value, just compensation, fair value, etc., whereas investment-decision analysis is concerned with the economic viability of a given proposed project. Although feasibility analysis and market valuation can both use discounted cash flow (DCF) analysis as a tool, the formulation of the DCFs and their interpretation are different."

Nov 1, 2019

By C. R. Landis

The Wyoming bentonite industry continued its run of stable, if not strong, growth in its complex markets. Growth at the macroscale was fueled by a strong domestic economy, the weakening of the U.S. dollar in the global market and strong worldwide global demand. Challenges to the benchmark of the industry were rapid and saw ongoing increases in raw material costs(pallets, bags and additives), higher energy costs and higher overall transportation costs for all modes of movement. Exports continued to be assisted by dollar depreciation (5 percent to 10 percent) from January 2004to January 2005. This depreciation followed the significant weakening of 2003. And it was most favorable during the pullback in fuel and shipping rates in the second half of the year.

Jan 1, 2005