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By A. L. Hinde

The recovery of heavy minerals by gravity concentration during grinding is practised widely in the minerals industry. Studies have shown that the grade and recovery of the concentrate depends not only on the performance of the concentrator but also on the degree of liberation achieved in the mills and the scavenging action of the hydrocyclones closing the grinding circuit. In the current study, consideration is given to the development of mathematical models to quantify and unify the operations of comminution, liberation, classification and concentration. The models are based on test work done at production scale with gold ore.

Jan 1, 1985

By Alexander N. Winchell

"Location. The copper mines of Michigan are all in the northern part of that state on the Keweenaw Peninsula, which extends from the (Michigan) mainland for about seventy miles northeasterly toward the middle of Lake Superior. The mines occur in a belt or zone occupying the central portion of the peninsula from end to end.. The most productive mines for many years past have been those located not far from the city of Houghton in' the central part of the zone, in a section extending about ten miles southwest of Houghton and fifteen miles northeast. The most important mines in order of location, from the northeast to south¬west, are the following: Mohawk, Ahmeek, Allouez, North Kearsarge, Wolverine, South Kearsarge, Centennial, Calumet. and Hecla, Osceola, Franklin, Quincy, Hancock, Isle Royale, Superior, Baltic, Trimountain, and Champion. The first three named are in Keweenaw county and all of the others are in Houghton county. Still farther to the southwest are the Lake, Mass, Adventure, Michigan, Victoria, and White Pine mines. These are in Ontonagon county.History. The exploitation of these copper mines extends back into prehistoric times. There is little evidence that the American Indians carried on mining operations in this region in the period shortly before the advent of white men, but there is abundant evidence that the ancestors of the Indians, •or some earlier inhabitants of the region, carried on primitive mining operations. For example, Mr. S. O. Knapp, Agent of the Minne¬sota Mining Company, in the winter of 1847-48, made the first discovery of prehistoric mining. This event is described as follows by Foster and Whitney :"

Jan 1, 1920

By H. Russell, N. DePriest, J. D. Quaranta

Valley-fill structures built of blasted rock overburden from Appalachian mountaintop surface mines pose many reclamation challenges. The steep mountainous terrain, short valley lengths, and straight stream channel profiles create significant challenges to implementing fluvial geomorphic landform design in terms of both form and function, and from a safety and constructability perspective. The fluvial geomorphic landform design approach balances erosive and resistive forces by considering long-term climatic conditions, soil types, slope profiles and vegetation types. Commercial geomorphic landform design software tools do not specifically analyze the stability and factor of safety for the computer-designed landform slopes. This research investigated slope stability parameters and factors of safety between a traditional valley-fill design with a geomorphic landform alternative. Slope stability assessments were performed on two profile geometries. Finite-element modeling of a permitted valley-fill and a geomorphic design alternative indicated that slope angle and internal angles of friction associated with the gradation of the overburden greatly affected the designed factor of safety for both designs. The geomorphic designed slopes yielded the highest factors of safety out of 14 models analyzed with all cases having factors of safety over 2.0. The high factors of safety are attributed to shallow slopes and beneficial surface and internal drainage.

Jan 1, 2014

By X. Cai, L. Jiang, G. Fu

A process for recovering manganese from low-grade manganese oxide ore through a reduction acidolysis-selective leaching method is investigated. Two types of biomass, sawdust and straw, were used as reductants. Reduction acidolysis, using concentrated sulfuric acid, was used to disrupt the structure of the biomass, allowing the biomass to be hydrolyzed into monosaccharides. Analysis by X-ray diffraction revealed that Mn2O3 was reduced to MnSO4. Then, in the selective leaching process, iron was removed through the formation of goethite. The optimized experimental parameters are as follows: reductant to ore mass ratio of 0.4, sulfuric acid to ore mass ratio of 0.9, water to ore ratio of 0.5, aging time of 18 h, leaching temperature of 95 °C, leaching time of 90 min, and solution pH of 2.5 to 2.8. Under these conditions and using sawdust as the reductant, the manganese leaching efficiency and iron removal efficiency were 91.8 and 99.2 percent, respectively.

By George J. Hartman

The Fort Cady in situ borate-mining project involves recovering boron from a deposit more than 400 m (1,300 ft) below the surface. The resource recovery method is a new in situ mining technology that uses weak acid solution injected directly into the ore body. As the acid contacts the calcium-based ore (primarily natural colemanite), the contained borate values are digested as boric acid. This boric acid solution is then pumped to the surface by submersible pumps. A series of chemical reactions and precipitations are performed that result in the production of calcium borate. The borate values are then recovered as a finely divided solid white powder. The refined product is sold under the trade name Cadycal 100. The Fort Cady in situ borate-mining project is located about halfway between Los Angeles, CA and Las Vegas, NV in the Mohave Desert.

Jan 1, 1996

By D. Men, R. Q. Honaker, J. C. Hower

"Maceral separation is one possible technique to expand coking coal resources, either by increasing the blending ratio of non- or slightly caking coal or rationally utilizing the coking coal according to the different behaviors of macerals in coking. The success of maceral enrichment for a given coal using flotation is dependent on the differences in flotation kinetic rate among macerals. This paper presents the flotation rates and zeta potentials of the vitrinite-rich and inertiniterich maceral concentrates obtained from six coal samples of different ranks – from high-volatile B bituminous coal with mean random vitrinite reflectance (Rrandom) of 0.64 percent to low-volatile bituminous coal with Rrandom of 1.73 percent – using a float-sink procedure. The flotation results show that vitrinite-rich concentrates can be produced in tap water using froth flotation only with frother for the high-volatile B and A bituminous coal samples, but there was no good performance for the high-volatile C bituminous and medium- to low-volatile bituminous coal samples. The zeta potential results show that froth flotation could probably separate the high-volatile C bituminous coal samples well by adjusting pH, but there was no good performance for the higher-rank coal samples. IntroductionMetallurgical coke is used in blast furnaces for steel production and is produced by the carbonization of coking coal. Because caking coals are rare and expensive, they are often blended with non- or slightly caking coals. Considering the tight supply-demand situation for coking coal in China, it is important and urgent to develop highly efficient technologies for rationally utilizing and expanding coking coal resources (Mochizuki et al., 2013)."

Jan 1, 2015

By Musa D. Manzi, Raymond J. Durrheim, Richard T. Masethe

Large mining-induced seismic events and their aftershocks cause hazardous working conditions, damage infrastructure, delay production and pose a risk to miners in the deep-level gold mines of South Africa. Stress changes affecting pre-existing zones of weakness are the main drivers of large mining-induced seismic events, which are often followed by aftershocks triggered by quasi-static stress transfer within the rockmass. A better understanding of seismic source mechanisms is important if the seismic data is to be used more effectively for mine planning and to reduce the rockburst risk. Four large seismic events (ML≥2.0) associated with the mining of the Ventersdorp Contact Reef (VCR) at Kloof Gold Mine occurred on 13 June 2017. The events and their fore- and aftershocks were studied in detail to establish the circumstances and the cause of the incidents. The local magnitudes ranged from ML 2.3 to ML 3.0, the seismic moment from 0.69 to 2.25 x 1013 Nm and the source radius from 92 – 150 m. The main shocks were preceded by foreshock sequences, which were especially vigorous in the four hours before the main shock. Seismicity was recorded by in-mine arrays of three-component 4.5Hz geophones (detection threshold approx. ML -2.9). Following all four main seismic events, ML 2.3, ML 2.3, ML 2.9 and ML 3.0, the network detected a total number of 300 aftershocks ranging from ML -2.9 to ML 1.6 spread within a 1300 m radius from the centre of the seismic network. The statistical properties of the aftershocks were analysed using three scaling relationships: (i) Gutenberg–Richter frequency magnitude relationship; (ii) modified Omori’s law; and (iii) Båth’s law for the magnitude of the largest aftershock. The geological or mining feature that controlled the failure (e.g., fault, dyke, pillar, abutment) was determined by calculating the orientation of the nodal planes of the large seismic events using moment tensor analysis and studying the aftershock distributions.

Apr 26, 2022

By Y. Lahaye, O. Martinsson, B. I. Palsson

"Four main and three minor rare-earth-element (REE)-bearing minerals were identified and quantified in the Kiirunavaara apatite iron ore tailings using optical microscopy, an electron probe microanalyzer (EPMA) and a mineral liberation analyzer, and their chemical compositions were analyzed by the EPMA and laser ablation inductively coupled plasmamass spectrometry. REEs are shown to be contained in the minerals apatite, monazite, allanite, titanite, zircon, thorite and synchysite. In zircon, thorite and synchysite, they occurred in only trace amounts and contributed limited amounts to the total REE budget, and these are consequently of minor importance. Monazite occurred as inclusions in apatite and as free particles, 90 percent liberated. Allanite occurred to some degree in mixed grains with magnetite but also as free particles. Monazite mainly reported to the apatite concentrate, while allanite and titanite largely went to the tailings, the latter preferably to those fractions smaller than 38 µm. The amount of titanite in the finest tailings fraction was 2.3 weight percent, containing close to 1 percent REEs, with heavy rare earth elements (HREEs) making up 28 percent of the total REEs. However, a texturally distinct group of titanite grains showed an HREE/REE ratio of up to 67 percent. Furthermore, titanum dioxide analyses indicate that titanite is preferentially released into the tailings from the secondary magnetic separation step in the concentrator. Our data therefore suggest that titanite, occasionally enriched in HREEs, can be extracted from the processing stream and might thus be considered a new source for REEs at Kiirunavaara and similar deposits.IntroductionDeposits of apatite iron ores are the major source for iron in the European Union and are exploited by Luossavaara-Kiirunavaara AB (LKAB) in several mines in the Kiruna-Malmberget area in northern Sweden. Kiirunavaara is the largest of the apatite iron orebodies in Sweden, comprising more than 2 Gt of iron ore with 60 to 68 percent iron (Fe). At the end of 2015, the total accumulated production of crude ore from openpit and underground mining since the start of mining was 1,566 Mt, with ore reserves of 644 Mt grading 46.3 percent Fe (LKAB, 2016). The deposit defines a steeply dipping tabular body, approximately 6 km long and up to 180 m thick, extending at least 1,500 m below the surface. It is situated in the middle part of the Palaeoproterozoic Kiirunavaara Group of volcanic rocks and follows the contact between a thick pile of trachyandesitic lava and overlying pyroclastics (Martinsson, 2004)."

Jan 1, 2017

By H. B. Miller

Contract Incentives have long been employed in the underground hardrock industry as a tool to influence employee performance, enhance productivity, and control labor costs. While traditionally structured to establish a direct correlation between performance and compensation, many contract programs have evolved into elaborate systems that promote strategies often viewed as independent of productivity. This paper presents the findings of research into these contract incentives and was conducted with the cooperation of 33 mines utilizing a spectrum of employee compensation and incentive programs. Emphasis of this analysis focuses on the types of production contracts observed and their role with respect to employee earnings.

Jan 1, 1994

By Evgueni Jak

Pyrometallurgy is an important sector of modern industrial society actively participating in solving current environmental, economic, materials scarcity and other challenges. Recent advances in analytical methods, experimental techniques, thermodynamic, phase equilibria and process modelling tools provide new opportunities to increase the productivity of pyrometallurgical reactors, the treatment of complex feeds and metal recoveries. Fundamental theoretical models can now be used to make a significant next step towards the development and implementation of computerised models describing real industrial processes—Virtual Reactors, and computer-aided smart-decision-making systems that may be called Pyro-GPS by analogy to GPS; these developments can facilitate knowledge-based improvement and optimization strategies. The implementation of these improvements require ongoing collaboration between researchers, industry and government

By Nikhil Dhawan, SHAILA MIR

The emerging problem of electronic waste has promoted the interest in exploring metal recovery from secondary sources under the umbrella of urban mining. This study presents the physical and chemical characterization of various components present in end-of-life laptops to help ascertain the sites of metallic values and develop sustainable and environment-friendly recycling. The recycling potential of a laptop is evaluated by sequential disassembly, separation, and characterization of components such as body (49.8 wt.%), printed circuit board (9.7 wt.%), hard disk drive (4.9 wt.%), and battery (12.4 wt.%). The printed circuit boards comprise metallic values, majorly copper (25 wt.%), tin (5.8 wt.%), and lead (3.1 wt.%). The precious metals (Au, Ag) with an economic advantage are abundantly present in electronic components such as integrated circuits, capacitors, resistors, and processors. Critical elements such as lithium, cobalt, and rare earth elements are detected in the discarded laptops' batteries and hard disk drives. The recycling potential representing the amount of material that can be recycled in various components, depending on the type, concentration, and purity, is determined in the range of 36–100%. On average, a unit laptop contains~ 386 g of Cu (14.45 wt. %), 49.73 g Co (1.86 wt. %), ~346 mg Ag, ~141.2 mg Au, ~650 mg of rare earth elements (Nd, Dy). This study presents a database for investigating integrated and economical recycling techniques from different components of a laptop, and an overall process flow is also proposed.

Jul 24, 2021

By R. Rodgers

The Pinto Valley concentrator of BHP Copper Inc. restarted its sulfide mining operations in September 2007 to produce copper and molybdenum concentrates. During the plant production ramp up, the copper/molybdenum circuit quickly reached the copper grade and recovery targets, but the production and quality of the molybdenum concentrate continued to be a challenge. Even though several improvements in the molybdenum circuit were completed, the final molybdenum concentrate did not meet contractual specifications. After reviewing several options to improve grade and reduce contaminants, the installation of three flotation columns were chosen. The column design and construction were done using in-house craftsmen and engineers. Ten days after commissioning, the columns successfully reached a steady operation and began producing molybdenum concentrate to the required specifications, that is, high molybdenum tenors and low copper and iron content. The Pinto Valley operations, are comprised of the Pinto Valley concentrator, the Pinto Valley dump leaching and a solvent extraction/electrowinning (SX/EW) plant. The concentrator operated from 1972 to 1998 when mining and milling operations were curtailed for economic reasons. The SX/EW plant continued operations for copper cathode production. After a cessation of mining operations of almost 10 years, Pinto Valley operations began a restart project in January 2007, to bring the mine and the concentrator back into production. Copper concentrate production started in October 2007 after refurbishing and upgrading the facilities with a new DCS system and filter plant. The daily targets of the concentrator were to treat 56.7 kt (62,500 st) of ore, produce 762 t (840 st) of copper concentrate containing 27.5 percent copper at recoveries of 86 percent and produce 2.2 t (2.5 st) of molybdenum concentrate containing more than 80 percent MoS2.

Jan 1, 2010

By D. Jepsen

Land access and tenure certainty for exploration and mine development is absolutely critical to the foundation of a healthy, sustainable and environmentally-sound mineral exploration and mining sector. Without certainty, mineral exploration will be severely eroded, resulting in reduced possibility of discovering and developing new mines. The development of positive relationships based on a shared commitment of understanding, mutual respect and trust by First Nations and the mineral sector can provide this increased business certainty and social and economic benefits for local First Nations. As a sector, we face many challenges in regard to building relationships with First Nations. The root solution to addressing these challenges lies in recognizing and understanding the unique cultural differences that exist between indigenous people and the business community. From the Canadian perspective, the First Nations culture differs vastly from non-Aboriginal culture. It is equally as imperative that cultural differences be acknowledged and respected at home as they are when seeking business opportunities in other countries. The traditional “business” approaches and relationships that one understands and incorporates with one’s contractors, legal counsel, investors and Board are generally not be the best approach for the introductory and subsequent meetings with indigenous peoples. This paper is written from the perspective of my experiences accumulated over the past ten years, first as Manager of Aboriginal Affairs for one of the largest forest companies in British Columbia and now, as President and CEO of the Association for Mineral Exploration BC (AME BC). My opinions are not necessarily endorsed by AME BC. Before the gritty issues of consultation and benefit sharing are dealt with, it is worthwhile to clear up the confusion surrounding terminology. “Indigenous Peoples” is used in a global context; “Aboriginal Peoples” is used in the Canadian context therefore includes Métis, Inuit and First Nations Peoples. The term “First Nations”, in the context of British Columbia, perhaps has its roots in the fact that treaties have largely not been settled. Therefore it is important to reaffirm that British Columbia was not discovered. First Nations have resided in British Columbia since time immemorial.

Jan 1, 2007

By E. Baliktsis

We have searched and analyzed several modern technologies aiming at the best applications of environmental management, the studying of quarrying ? mining as well as the excavation sites ? utilization ? rehabilitation. We have used long-range reflectorless laser surveying systems, so as to achieve the fastest and most accurate surveying of the extractive work sites. We also used them, in order to collect field data, measure distances, surveying monitoring stations and environmental parameters ? data. Furthermore these systems can make the field work quite faster, more reliable and credible and have low cost in collecting data even in dangerous and non-approachable areas. We have used and processed on the field data in G.I.S. applications, in order to create 2-D and 3-D digital ground models. These G.I.S. applications present the existing relief and the management of the final stage of the area. The suggested techniques and works needed, for reclamation and utilization of the areas, could be tried, evaluated and well presented. The evolution and utilization of these ?smart? modern tools for the effective environmental management of quarrying ? mining ? extractive activity sites, will be presented by using case histories from the Hellenic territory.

Jan 1, 2002

By Swades Kumar Chaulya, Vikash Kumar, Sushma Kumari, Naresh Kumar, Girendra Mohan Prasad, Monika Choudhary

During harsh weather conditions, the presence of fog, dust in the environment degrades the image’s quality, which affects the visibility of drivers of heavy earth-moving machinery in opencast mines. Due to low visibility, mining operations cannot be carried out as drivers are easily prone to accidents. This paper proposes a technique that includes developing a vision enhancement system called perceptive driving assistant system for increasing visibility of real-time video of the road in front of the vehicle for operators of heavy earth-moving machinery at opencast mines during harsh weather conditions to overcome the problem. The system consists of high-quality Internet Protocol cameras and thermal cameras for real-time image processing and other well-defined devices, which is quite capable of enhancing the visibility of the image, outlining edges of the road, and detecting obstacles present on the path of operators for smooth driving and reducing threat of accidents. A high-speed graphical processing unit has been used for quality-performance parallel computing, which is well suited for real-time operations to empower fast real-time operations. The calculated frame per second (fps) of image enhancement, object detection, and edge detection is 17.91, 15.91, and 25.09 fps, respectively. The actual frame rate is 26.07 fps, and after applying the algorithm, the final frame rate is 19.65 fps. The calculated accuracy of the object detection model is 81.23%. Field trials indicate that the developed system has performed adequately during foggy weather.

Sep 21, 2022

By SAHENDRA SINGH, SANJIT KUMAR PAL, DHARMITA HORO

The North Singhbhum Mobile Belt (NSMB) lies between two crustal-scale shear zones, the South Purulia Shear Zone (SPSZ) at the north, and the Singhbhum Shear Zone (SSZ) at the south. The Babaikundi-Birgaon Axis (BBA) is an east-west trending secondary shear zone in the NSMB lying south of SPSZ, which is known for the occurrence of gold along with other sulfide minerals within the quartz reefs. The present study has been carried out at north of Ichadih village, which lies on the BBA. The present study attempts combined electrical resistivity tomography (ERT) and self-potential methods along a profile of 470-m length in the Ichadih area to map the potential mineralized zones. Initially, ERT sections generated by Wenner, Wenner- Schlumberger, dipole-dipole, and joint inversion of the combined array have been analyzed, and results are validated through the analysis of model resolution. A prominent low resistivity (10–100 Ωm) associated with quartz reef/limonitic quartz reef at a depth of approximately 30–85 m, encircled by a high resistive (more than 10,000 Ωm) formation associated with metasedimentary rock, has been delineated using joint inversion of the combined array. Further, analysis of self-potential (SP) anomaly using particle swarm optimization inversion also confirms the prominent low SP anomaly at a depth of 77.3 m, which is analogous to the low resistivity anomaly identified in the joint inversion of the combined geo-electric array. Subsequent analysis of a complex synthetic geo-electrical model analogous to the present field situation proves the efficacy of the joint inversion of combined arrays. As a whole, joint inversion of multi-array data is established as an efficient technique for better subsurface imaging in case of the complex subsurface structure. In-depth analyses confirm the possibility of sulfide mineral-rich deposit (quartz reef/limonitic quartz reef) which requires further geological drilling and lithogeochemical sample analysis, for possible future exploration.

Oct 26, 2020

By F. Dehghani, B. Rezaie, T. Ghosh, A. Sachan

Comminution is an integral part of the mineral extraction process. However, the influence of the comminution method (ball and rod mills) on silica and magnetite particle shapes has not been substantially investigated. Shape parameters for fractions of -250+212, -150+125, and -106+75 μm sizes were examined utilizing a scanning electron microscope and a Clemex vision PE image analysis system. The silica particles displayed higher elongation and flatness parameter values for rod mill products, but roundness and relative width parameter values of rod mill products are less than that of the ball mill products. Magnetite particle elongation and flatness parameter values of ball mill products in fraction sizes of -250+212 and -106+75 μm are larger than rod mill products, but roundness and relative width parameter values of ball mill products are smaller than rod-mill products, but for the -150+125 μm size range the result is converse. Furthermore, particle elongation and flatness increased with decreasing particle sizes of silica, whereas, roundness and relative width decreased for both Ball and Rod Mills. In case of magnetite, ball mill products displayed an increase of flatness and particle elongations with decreasing particle sizes but flatness increased and roundness and relative width decreased. Similarly for rod mills, magnetite fractions of -150+125 μm were found to have the largest values of elongation and flatness. INTRODUCTION Comminution alters the size and shape, causes lattice distortion, changes chemical composition, surface area, surface-free energy, and polymorphic transformation of all materials. The quantity and quality of such changes depend on specifications of the material feedstock, the type of mill being utilized, the specific energy input, ambient temperature, and environmental pressure [1]. The shape difference between the milled products depends on different grinding mechanisms and the respective breakage principles that these mechanisms depend on [2, 3]. With decreasing particle sizes, the nature of the particle surface become crucial [1]. The influence of the breakage technique has been found to be non-trivial and heavily dependent on the type of grinding mill used for particle size reduction [4]. Shape is an important industrial parameter for predicting particle behavior in downstream processes. The shape parameter affects the way particles burn, compact, are recovered, flow in fluids, sinter, float, agglomerate, fluidize, interact with pulmonary tissue, cut, abrade, react with chemicals, form structural materials, and retain and permit fluids to flow [5, 6]. The distribution of particle sizes and shapes are important for mining, civil and chemical, pharmaceutical, and various other industries with interest in the population modeling of atmospheric dusts, smoke, and grit [1, 3, 6]. The shape parameter not only affects the chemical, physical, surface properties of particles but is also important for downstream processes [5, 6]. Image analysis has been found to provide detailed information about size and shape of the particles and can be used for the control of product quality [4].

Jan 1, 2019

By Lana Alagha, Fardis Nakhaei, Jose L. Corchado-Albelo, Noelia Munoz-Garcia, Michèle Heitz

Sulfide tailings from past and present mining activities are important hosts of critical elements and precious metals. This review paper presented a literature survey on the recovery practices of some critical minerals containing Te from sulfide tailings with a special focus on the physical beneficiation and hydrometallurgical separation methods. Finally, a conceptual framework and possible processing flowsheets were proposed. The findings of this review will be useful for the researchers in the field of geochemistry, mineral processing, and metallurgy to evaluate the separation processes for reprocessing of mine tailings for the recovery of critical minerals.

Feb 1, 2024

By B. P. Bellport

This paper summarizes the Bureau of Reclamation's experience in the use of boring machines to excavate six major tunnels on the Bureau's water resources development projects in the western United States. The summary of experience is presented as a compilation of brief case studies for each of the six tunnels. Each compilation presents data on the tunnel dimensions, geological characteristics of the excavated rock, the tunneling machine used, machine operation, muck handling, method of tunnel support, ventilation system, and related information. The listing of the six tunnels in Table 1 reflects a diversity of tunnel lengths and diameters. However, despite this diversity of dimensions as well as the variety of rock encountered during excavation, the six tunnels have one major characteristic in common: their excavation was significantly expedited by the use of boring machines. Beginning with the 10,079-foot-long Tunnel No. 1 on the Navajo Indian Irrigation Project in New Mexico - the Bureau's first tunnel to be excavated by a boring machine - the boring machines, or "moles," have demonstrated their effectiveness in rapid and economical tunnel excavation. Tunnel No. 1, virtually 2 miles long, was bored through in 9 months, an unprecedented achievement in Bureau engineering experience, as compared with tunnels previously excavated by conventional means. Boring of the 45,630-foot-long Blanco Tunnel and the 26,610-foot-long Oso Tunnel, both on the San Juan-Chama Project in Colorado, set world records in rates of excavation,l/* Two days of exceptional progress highlighted the

Jan 1, 1970

By MATT RENAUD, Mustafa Kumral

As high-quality mineral deposits are thoroughly exploited, mines of the future will have to move towards more remote and lower quality projects. With these projects comes an increased business risk to the operator. Even now, mining companies often turn to foreign countries for new deposits to produce, introducing the concept of country risk into their portfolio. Furthermore, feasibility studies often fail to accurately quantify the risks associated with various projects, and as such, this study proposes a technique of risk quantification which can both aid mining companies to evaluate the viability of investment and assist in risk disclosure to public investors for the mining industry of the future. This paper aims to quantify the effects of country risk on the valuation of potential mining projects, using a combination of modular and risk-weighting techniques to evaluate the country risk premium (CRP) required to obtain capital for operation of risky foreign mining projects. The techniques proposed in this paper are demonstrated using fictional examples and then evaluated for accuracy against a recently developed debt-funded precious metal project in a country in the Americas.

Sep 30, 2021