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By Michael Samis

Conventional project valuation techniques, such as discounted cash flow (DCF) method, are more frequently being criticised for the manner in which they consider the interacting effects of uncertainty and project structure (including management flexibility) on project value. Modern asset pricing (MAP; often called ?real options valuation? when applied to the analysis of flexibility) is a more general valuation framework that corrects many of the shortcomings of common valuation methods. Previous mining applications of MAP have tended to treat the ore deposit as a homogenous entity. While useful for demonstration purposes, this is inadequate for practical application in industry. This paper presents a MAP valuation example that allows for the heterogeneous nature of an ore deposit. It shows that deposit structure may increase the complexity of the mine planner?s decision so that results of a standard DCF analysis, or a simple MAP analysis that ignores the details of deposit structure, are misleading. In the example, a management is considering the development of an adjacent low-grade zone while mining operations in a high-grade zone are ongoing. If the low-grade zone is developed before high-grade reserves are exhausted, the proposed development will include both low-grade zone development and a capacity expansion to handle additional low-grade reserve production. If development of these reserves is delayed until the high-grade reserves are depleted, then the low-grade reserves can be developed without a capacity expansion. A typical DCF analysis would reduce the management?s decision problem to three alternatives: 1) continue mining only in the highgrade reserves, 2) immediately develop the low-grade reserves and expand capacity, and 3) delay low-grade zone development until the high-grade reserves are exhausted. The model presented here allows the management to reconsider the development and capacity expansion decision on a discrete half-year basis. It delineates price regions, for given levels of high-grade zone reserves, in which it is optimal to develop the low-grade zone, defer low-grade zone development and abandon the mine irrevocably. The model presented here extends the ability of mine planners to describe actual project structure while using the MAP valuation framework that is already noted for its capacity to combine project uncertainty and risk insights with a dynamic project description.

May 1, 2001

By Thomas H. Heine

"The Rabbit Lake uranium deposit is located at 58° 11’00”N.. 103°42'36""W., close to the west side of Wollaston Lake, and approximately 800 km north of Saskatoon. The orebody is hosted by Aphebian Wollaston Group rocks, initially deposited as a series of shallow-water marine sediments consisting, in part, of carbonates and possible saliferous petites. Metamorphism during the Hudsonian Orogeny, peaking at about 1850 Ma, recrystallized the sediments to upper amphibolite grade paragneisses. This was accompanied by partial anatexis. The waning stages of Hudsonian orogenesis appear to be marked by minor granitic intrusive activity.The post-Hudsonian period was marked by a long interval of physical and chemical erosion, resulting in the unroofing of the Wollaston metamorphic complex. The entire region underwent extensive lateritic weathering under tropical to subtropical conditions. Carbonates were especially vulnerable and, in the Rabbit Lake area, suffered extensive solutioning with accompanying formation of collapse breccias. Old zones of weakness also underwent periodic reactivation.It was during this period that uranium was leached from the surrounding meta-sediments by oxidizing meteoric waters, and transported into the karsted and fractured rocks of the Rabbit Lake doline.Athabasca Group sediments eventually covered the deposit, their diagenesis taking place at about 200 °C and 900 bars. This allowed the partial to complete recrystallization of the initial mineralization, resulting in a minimum age of 1281 ± 11 Major ""first""-generation pitchblende. Periodic fault/fracture reactivation modified the hydrologic regime within the deposit, resulting in episodic mobilization and recrystallization of pitchblende and other uraniferous species. This is clearly shown in the open pit at the present time: uranium is being mobilized and recrystallized on damp pit walls as bayleyite and liebigite due to the modification of the hydrologic system by mining activities.The uranium mineralization occurs mainly as fracture fillings, coatings, and impregnations within breccia zones and intensely altered metasediments. Lesser mineralization is intimately associated with phyllosilicates which form the matrix of a carbonate-col/apse mega-breccia. The primary ore mineral is pitchblende, consisting of five generations, and from which a large suite of secondary uraniferous minerals have formed. On a gross scale the metal content of this deposit appears to be simple, consisting almost exclusively of U, but minor Ni, As, Cu, Se, Fe and Co are also present. The eastern limit of the mineralization is defined by a vertically-dipping microgranite dyke - breccia complex, containing high-grade uranium values. The orebody is truncated to the west and at depth by the Rabbit Lake reverse fault. Minor mineralization occurs as fracture fillings in unaltered plagioclasite in the footwall of the ore body. Precipitation of uranium from solution could have taken place by a number of processes. A mobile reductant (methane, carbon dioxide, etc.) may have been generated from graphite present in some of the host rocks of the orebody. Sulphides are also a common accessory and may have aided in the formation of a reducing environment. Phyllosilicates may have acted as adsorbants for uranium, allowing for its fixation. This metal has also been incorporated into the phyllosilicates themselves."

Jan 1, 1986

By David L. Anderson

"The government o f Canada has, since 1981, been under intense political pressure to modify its foreign direct investment (FOI) regulatory regime(1). To date the government's response has been limited to administrative and ""cosmetic"" changes: substantive issues have been largely ignored(2). However, as long as the economy continues to flounder , the Foreign Investment Review Agency (FIRA), as it is presently formulated , will continue to be an easy target for government critics . This phenomenon, in conjunction with the virtual certainty of a federal general election within two years, suggests that changes to the FIR Act will be seriously entertained by the present government.Recent events indicate that if change s are made, they will likely entail the adoption of a special-sector approach within the existing framework of a general screening system(3). Since this approach is currently employed in Australia(4), it would seem to be appropriate, from a public policy perspective to study that country's experience in developing and operating such a scheme. In doing so, I shall focus on the mineral sector; the rationale for doing so is as follows. First, this sector served as the focal point of the Australian FOI regulatory debater(5), Second , with the exception of the oil and gas industries, the non-petroleum mineral sector is one of the few areas of the Canadian economy wherein the Trudeau government has adopted an explicit domestic ownership target(6). Third, the non-petroleum mineral sector is, undoubtedly, a prime candidate to be denoted a s a special-sector if such a framework were to be utilized by the Canadian government!"".Although international comparisons are fraught with danger , a Canadian/Australian comparison is particularly appropriate(8). Both countries have reasonably similar economic, political and social structures . Furthermore, as noted above , Australia is the only other western country which employs a general screening mechanism for FOI. In addition, it utilizes a special area approach ; within this scheme, an explicit target of a minimum of 50% Australian ownership of all new resource projects has been formulated and clearly promulgated to all of the relevant interest groups. This policy, broadly defined, has been in place for more than six years and during this time the Australian mineral sector has, by world standards, prospered(9). Hence, the Australian experience in designating the mineral sector as a key area within a general screening system, should be of interest to Canadian policy-makers."

Jan 1, 1984

By J. W. McCammon

CRANGES in construction ideas and the continually rising costs of labour and conventional building materials, particularly since World War II, have prompted widespread investigations into the development and adaptation of new materials to meet the new requirements and to help reduce costs. Lightweight aggregates have been prominent in these investigations. The lightweight aggregates most commonly used today are foamed slag, cinders, pumice, diatomite, exfoliated vermiculite, expanded perlite, and bloated clay or shah. Lightweight aggregates contribute to the building industry in several ways: ( 1) in large structures the reduction in deadweight effected by the use of lightweight materials reduces the amount of reinforcing and structural steel necessary to support the structure; ( 2) the decrease in weight of lightweight blocks makes handling easier and faster; (3) pre-fabricated floor and roof slabs and tilt-up walls of lightweight concrete have become feasible and popular; ( 4) lightweight aggregate concrete has good nailability and is easily channelled; (5) concrete and plaster made with lightweight aggregate have good heat and sound insulation properties.

Jan 1, 1957

By K. D. Bulin

"An interesting brief history review of shovels as the primary excavating tool will permit the reader to see that immeasurable development and resources have preceded the shovel excavators which today are used extensively throughout the mining industry. With this as a background, the shovel manufacturer has the ability to utilize his resources best in those areas of shovel development in which the maximum benefits of increased reliability, performance and ease of maintenance will improve the operating rewards to the user of the equipment. The author explains the function of the shovel as a part of the material handling system. A detailed description of those areas of the shovel in which the most recent developments and major improvements have been implemented in the manufacture of the shovel excavator arc included."

Jan 1, 1973

By L. Paulino, R. A. Camilli, J. Yamamoto, J. C. Araujo

The first paper presented on this work [1], showed how bath ratio was increased from 78% to over 95% using a structured approach to reduce bath chemistry variability. This update will illustrate the steps taken and update the results presented earlier, showing the effects of long power interruptions and several load reductions as well as load increase during the period from 1999 to 2005. Current efficiency was affected by such processes upset; however, bath ratio in range (±0.05) is still higher than 90%, even after an increment of more than 6 kA. This review will explain each of the steps taken to reach stability in this critical smelting parameter.

Jan 1, 2006

By R. Pot

"IntroductionTHE PURPOSE of this paper is to discuss briefly the main logging and testing devices presently at our disposal, to point out some of their limitations, and to suggest possible improvements of the techniques.Some of the more important devices .are those that are used in:(1) Coring(2) Formation testing(3) Electric well logging(4) Radioactive well logging(5) Measuring of bottom hole pressures(6) Sampling of reservoir fluidsThe first four of these procedures are concerned with the well while it is in the process of drilling. The last two are carried out as soon as possible after a well has been brought into production and .at intervals during its life. My remarks will be concerned mostly with certain aspects of formation testing. The reservoir engineer is dependent on the information derived from these operations in order to obtain a clear picture of the conditions in a reservoir and to enable him to assess and forecast its future behaviour.Since any calculation is no better than the data on which it is based, not enough emphasis can be placed on the necessity for the testing and logging equipment to be of the highest quality and for the analysis of the results obtained to be thorough."

Jan 1, 1952

By G. M. Ross, I. M. Ross, J. A. Scott

"The otherwise waste heat in many water streams in the mining industry can be used to provide space heating of adjacent infrastructure including laboratories, workshops, and offices. This can be achieved by using heat pump systems, which can work as a replacement or in conjunction with existing space heating. In the example investigated—process cooling streams at an ore smelter—the analysis provided illustrates that annual heating costs can be 19% lower and a simultaneous 62% reduction in CO2 emissions can be achieved.RÉSUMÉ Dans l’industrie minière, la chaleur qui serait normalement perdue des circuits d’eau pourrait servir à chauffer des structures adjacentes incluant les laboratoires, les ateliers et les bureaux. Cela pourrait se faire en utilisant des systèmes de thermopompes, qui pourraient remplacer ou s’ajouter au chauffage existant. Dans l’exemple étudié, des circuits de refroidissement de procédé à une fonderie, l’analyse fournie illustre qu’il est possible de réduire les coûts annuels de chauffage de 19 % et d’obtenir une réduction simultanée de 62 % des émissions de CO2."

Jan 1, 2016

By X. Cao, J. J. Jonas, Wanjara. P., J. Gholipour, E. Dalgaard

The linear friction welding (LFW) behaviour of near-ß titanium alloy Ti-5Al-5V-5Mo-3Cr (Ti- 5553) was investigated. Microhardness measurements were performed in order to evaluate the mechanical properties of the welded material. The linear friction welded (LFWed) Ti-5553 was examined with optical microscopy and scanning electron microscopy (SEM) to evaluate the microstructure’s response to the thermomechanical conditions. Characterization of the welds included analysis of the microstructural features of the weld region and thermomechanically affected zone (TMAZ) in relation to the parent material.

Jan 1, 2010

By Gary Pattrick

A new class of spongy Au catalysts is studied for the selective catalytic reduction of NOx by propene under leanburn conditions. The spongy catalyst is an unsupported powdered Au that consists of micrometer particles (~5 microns) that have nanometer scale (~10 nm) internal skeletal structures. The effects of alloying 1 ? 50 atom % platinum group metals (M= Pt, Pd, Rh) and 5 wt% first row transition metals (M = Ti, Mn, Fe, Co) were studied. Even low additions of PGMs (1 at.%) cause significant shifts to lower temperature regions of activity and the largest shift is obtained for Rh. For Rh this is interpreted as a strong synergistic interaction between Rh and Au. Possibly related to the Rh effect, Co is the only other metal studied that lowers the temperature of NOx reduction. The other first row transition metals inhibit the reduction reaction.

Oct 1, 2003

By A. Golpaygan

Application of Computational Fluid Dynamics (CFD) modeling for simulation of fluid flow and combustion in industrial scale electric furnace is presented. Poor combustion efficiency, roof and/or side wall overheating, carry over to off-gas system and non-ideal radiative heat transfer to processes or cooling systems have been common limiting factors causing inadequate process performance of the furnace, operational problems, and safety hazards. This paper describes how CFD analysis can be used to obtain a better understanding of commonly observed problems associated with freeboard combustion. Examples are presented to describe using combustion CFD modeling to understand requirements to diagnose a problem with furnace design including required freeboard volume or possible roof/side wall overheating.

Jan 1, 2011

By C. Allen, M. Gangal, J. Stachulak

"Most underground diesel equipment is equipped with diesel oxidization catalysts (DOCs) to reduce carbon monoxide and hydrocarbon emissions. DOCs do not alter nitrogen oxides concentrations but can promote the oxidization of nitric oxide (NO) to the more toxic nitrogen dioxide (NO2). Vale and CanmetMINING have been researching how to reduce worker exposure to diesel emissions by testing mining equipment DOCs. Results indicate a > 77% decrease in carbon monoxide concentration but a 46–315% increase in NO2 concentration for 8-mode test cycles. It is recommended that DOCs that increase NO2 emissions be evaluated regarding their continued use in underground operations.RÉSUMÉ La plupart des équipements miniers souterrains sont équipés de catalyseurs d’oxydation diesel (DOC) afin de réduire les émissions de monoxyde de carbone et d’hydrocarbures. Les DOC ne modifient pas les concentrations des oxydes d’azote mais ils peuvent faciliter l’oxydation du monoxide d’azote (NO) en dioxyde d’azote (NO2), plus toxique. Vale et CanmetMINING effectuent des recherches pour réduire l’exposition des travailleurs aux émissions de diesel en analysant les DOC des équipements miniers. Selon les résultats, une diminution > 77 % dans la concentration de monoxyde de carbone est atteinte mais elle est accompagnée d’une augmentation de 46 à 315 % de la concentration en NO2 pour des cycles d’essais à 8 modes. Il est recommandé d’évaluer les DOC qui augmentent les émissions de NO2 pour décider de la poursuite de leur utilisation dans les opérations souterraines."

Jan 1, 2016

By P. H. Riordon

ONE OF the major sources of the world's supply of asbestos lies in a belt of ultrabasic rocks stretching through the Eastern Townships of Quebec where chrysotile asbestos has been mined continuously since 1878. The productive portion of the belt extends from the town of Asbestos in Shipton town-ship northeastward some 60 miles to the eastern edge of Broughton town-ship. (See map). Twelve mines, currently treating an aggregate of over 60,000 tons of rock daily, produce more than one million tons of asbestos :annually. An equal number of mines are now dormant, having for the most part exhausted their reserves. It is evident from the past and present activity, in this belt that it can look forward to at least half a century or more of large scale production. The host rock to the asbestos de-posits is essentially a peridotite which originally contained I 0 to 15 per •cent pyroxene. The peridotite, associated with dunite, pyroxenite

Jan 1, 1962

By D. Tao

Froth flotation is widely used in the coal industry to clean -28 mesh or -100 mesh fine coal. A successful recovery of particles by flotation depends on efficient particle-bubble collision and attachment with minimal subsequent particle detachment from bubble. Flotation is effective in a narrow size range outside which the flotation efficiency drops sharply. A fundamental analysis has shown that use of picobubbles can significantly improve the flotation recovery of particles by increasing the probability of collision and attachment and reducing the probability of detachment. A specially designed column with a picobubble generator has been developed for enhanced recovery of fine coal particles. Picobubbles were produced based on the hydrodynamic cavitation principle. Experimental results with one metallurgical coal and one steam coal have shown that the use of picobubbles in a 2" column flotation increased fine coal recovery by 10-30%, depending on the feed rate, collector dosage, and other flotation conditions. Picobubbles also acted as a secondary collector and reduced the collector dosage by one third to one half.

Jan 1, 2006

By L. Tong

"The oxidation of Quebracho was evaluated by acid-butanol assay, which indicates depolymerization of Quebracho. Anthocyanidin, an oxidation product of Quebracho, is stable at 95?C for up to 2 h. The ionization, complexation, and oxidation properties of Quebracho were discussed. Complexation of metal-Quebracho occurs at ambient temperature. The formation of complex precipitates is influenced by the acidity of the solution. Temperature is another important parameter that influences the oxidation and the complexation of Quebracho. Quebracho-ferric complex precipitate forms at 90?C, 0.1 mol/L H2SO4. The formation of Quebracho-metal complex in the leach solution is a possible reason for the consumption of Quebracho. Quebracho molecules adsorption on the mineral surface is reduced by consumption of Quebracho, resulting in poor sulfur dispersing effect in the leaching process. INTRODUCTIONQuebracho is used as a sulfur dispersing agent (SDA) in the pressure leaching of zinc concentrate as stated in U.S. Patent No. 3,867,268 (1975). It prevents the zinc sulfide particles from being coated with molten sulfur, thus preventing the inhibition of the zinc leaching reaction. Recently, the sulfur dispersing effect of Quebracho was investigated in the oxygen pressure leaching of nickel concentrate. The oxygen pressure leaching of pentlandite can be represented by reactions 1-3."

Jan 1, 2012

By S. B. Ballantyne, D. R. Boyle

"Detailed studies have been conducted on the dispersion of uranium in stream waters and sediments around various types of mineralization and hitherto unexplained anomalous areas in the Okanagan Valley and Highland region of south-central British Columbia. These studies were part of the jointly funded and planned Federal-Provincial Uranium Reconnaissance Program of the Geological Survey of Canada and the British Columbia Ministry of Energy, Mines and Petroleum Resources. Statistical analysis of regional data indicates that U in stream waters and sediments varies considerably for different rock types, thus affecting data interpretation. In addition, the data demonstrate a poor correlation between U in stream waters and their associated sediments which can be largely accounted for by variations in climate and water and sediment composition. Regional trends in the distribution of U can be explained in terms of the above secondary factors as well as primary metallization phenomena.Significant correlations between U and F, and U and Mo can be explained by certain magmatic and mineral-forming processes. U shows little correlation with other base metals.The dispersion characteristics of U in the vicinity of Miocene "" basal type "" mineralization ; uraniferous pegmatite terranes, anomalous lineaments in granitic terranes and high-background volcano-sedimentary areas are discussed. Highly anomalous U concentrations in waters and sediments may not always be indicative of mineralization, and guidelines for interpretation require a sound knowledge of the geological and secondary processes operative in the area."

Jan 1, 1980

By David Stone

North American Palladium is the owner/operator of the Lac des Iles mine located 115 km north of Thunder Bay, Ontario. The mine has produced an average of 65,000 ounces of palladium since 1994. Lac des Iles is currently undergoing the first phase of a major expansion that will increase ore production from 2,400 tons per day to 15,000 tons per day. A future expansion is being contemplated for 30,000 tons per day. The current expansion will increase palladium output to 250,000 ounces per year. The mine plan for the ultimate pit results in an excavation 1 km long by 800 m wide and over 450 m deep. This makes the ultimate pit at Lac des Iles one of the ten deepest open pits in the world, and the largest in Canada. This paper outlines the geotechnical data collection and design methodology for the ultimate open pit at Lac des Iles.

May 1, 2001

By N. Shi, T. G. Joseph

ABSTRACT A revised equilibrium approach to evaluate dipper-ground interactions during the dig cycle of ultra-class mining shovels operating in soft unblasted uniform ground conditions is presented. A review of previous approaches, leading to an outline of the modifications and ground condition considerations, is made in support of the reasoning and basis for the derivation presented. An analytical solution is provided to the scenario of a cable shovel dipper digging in soft ground material such as oil sands.

Jan 1, 2012

Lonmin RoM ball mills are treating two types of feed ore produced by conventional mining and mechanised mining methods. It was reported that reduction in mill throughput was observed when treating the mechanised mining ore. Detailed grinding surveys were conducted for troubleshooting. Ore samples were collected for breakage characterisation using a JKRBT based on different particle density components. XRD analysis was conducted to investigate the association of minerals with density components. The plant surveys and the breakage characterisation tests all suggested that the two mining methods did not significantly affect either the ore breakage properties or the RoM mill performance. Instead, the mill discharge open area exerted a remarkable influence on mill throughput. The RoM ball mill operated at Lonmin K4 Concentrator has been proven to be a versatile mill that performed stably with variations in feed size distribution and feed ore changes by different mining techniques. The reasons are elucidated by the multi-component breakage characterisation and the plant surveys data.

Jan 1, 2012

By Victor Dolmage

Introduction Although gold production in British Columbia began in 1859, lode gold was not produced till 1893. Since 1900, the annual production of lode gold has fluctuated between $3,000,000 and $6,000,000. About twenty per cent of this production may be regarded as by-product gold from base metal mining. The remainder comes from a few isolated but important mines, such as the Rossland mines, Nickel Plate, Surf Inlet, Premier, Pioneer, Bralorne, Reno, and Cariboo Gold Quartz, and from several less important mines. All of the above, except Pioneer, Bralorne, Reno, and Cariboo, are approaching or have reached the point of exhaustion, but all are now receiving, under the stimulus of the. present gold-mining boom, drastic resuscitative treatment, with, in some cases, signs of resurrection. Notwithstanding this, however, the main interest at the present time is focussed on the Bridge River and Cariboo fields. Both these fields were discovered in the early 'sixties' and, apart from the Cariboo placer production, both have from time to time contributed small amounts of lode gold; but it is only during the last two years that the real possibilities of these areas were discovered. and that they began to assume the appearance of goldfields of major importance. The two fields are sorme three hundred miles distant from one another and contain deposits of distinctly different types, so that the only reason for including them in one article is the fact that they came into prominence more or less simultaneously and at a time coinciding with, but not otherwise related to, the present gold-mining boom.

Jan 1, 1934