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By J. van Deventer

Ion exchange is widely used in hydrometallurgical operations for the recovery and purification of valuable metals. Special chelating resins have a high affinity for specific elements, allowing the selective removal of low levels of impurities from a background of highly concentrated valuable metal. Solvent-impregnated resins have been added to this group more recently, expanding the treatment options. These products find application in the purification of cobalt-rich liquor prior to the production of high-purity metal or metal salts. Impurities in copper-cobalt circuits that are typically targeted by ion exchange include iron, uranium, copper, zinc, nickel, bismuth, and antimony. Ion-exchange resins can also be used to treat tailings, thereby recovering additional valuable metal and improving the Environmental and Social Governance credentials of the operation. This article takes a look at various applications of ion exchange in copper-cobalt operations

Jan 1, 2023

By H. Sekimoto, T. Matsuoka, K. Yasuhara, M. Ota, S. Akutagawa

A magnetic anisotropy sensor is used for nondestructive measurement of stress on surfaces of a ferromagnetic material, such as steel. The sensor is built on the principle of the magneto-strictive effect in which changes in magnetic permeability due to deformation of the material is measured in a nondestructive manner, which then can be translated into the absolute values of stresses existing on the surface. This technique was applied to measure stresses of H-beams used in tunnels. The results show that this method could be one of the promising technologies for non-destructive stress measurement for safe construction of underground structures. Une sonde magnétique anisotropique est utilisée pour des mesures non-destructives de stress sur la surface d' unmétal ferromagnétique, comme l'acier. La sonde est construite sur le principe de l'effet magnéto-strictif dans lequel les changements dans la perméabilité magnétique due à la déformation du metal est mesurée avec une manière non-destructive, qui peut être alors traduite en valeurs absolues des stress existants à la surface. Cette technique a été appliquée pour la mesure de stress des poutres en H utilisées dans les tunnels. Les résultats montrent que cette méthode peut être l'une des technologies promet tantes concernant les mesures non-destructives de stress pour des constructions sûres de strcutures souterraines. Ein magnetischer Anisotropie-Sensor wird für die zerstörungsfreie Messung von Spannungen an Oberflächenvon ferromagnetischen Materialien wie z.B. Stahl verwendet. Der Sensor kann Änderungen in der magnetischen Durchlässigkeit auf Grund von Verformungen des Materials erkennen, die dann in Absolutwerte der Spannungen an der Oberfläche umgerechnet werden können. Die Methode wurde auf Messung von Spannungenvon H-Balken in Tunnels angewendet. Ergebnisse zeigen, dass dies eine vielversprechende Methode für diezerstörungefreie Messung im Tiefbau ist.

Jan 1, 2003

By J. M. Cardoso, E. F. Quadros, A. Chiarini, F. Fernandes, G. Vilela, J. Ireno, L. C. Agostini

Based on the geological-geometric characterization of the basaltic rock at the site of a factory for chemical products situated in the Southern region of Brasil, and on results of a significant number of packer tests, the principal directions of flow were estimated, taking into consideration the intersection and the orientation of the joints and the amount of contaminant flow measured in each interval. The tests were performed using the multi-packer hydraulic multitest probe of IPT (HMTP) instrumented with an electric conductivity meter. A method of analysis for three-dimensional evaluation of the amount of contaminant flow in the area was proposed for future mitigation of the problem. Basé sur une caractérization géologique-géotechnique de la roche basaltique existant sur un site dune fabrique de produits chimiques située au sud du Brésil et sur les resultants dún nombre significantif déssais du type packer, les directions principales d´écoulement ont été estimées en considerant l´intersection et orientation des joints et la quantité de contaminant mesurée sur chaque intervale d´essais. Ceux-ci ont été realizes en utilisant une sonde multipacker developée au IPT – São Paulo (HMTP) instrumentée avec un mesureur de condictivité électrique. Une méthode d´analyse 3-D pour l´évaluation du transport du contaminant sur ce site a été proposée pour une future mitigation du problème. Auf Grund der geologischen Struktur des Basalts auf dem Gelände einer chemischen Fabrik in Südbrasilien und der Ergebnisse einer ansehnlichen Zahl von Pumpversuchen wurden die Hauptfließrichtungen bestimmt unter Berücksichtigung des Kluftgefüges und der in jedem Intervall gemessenen Menge kontaminierten Wassers. Die Versuche erfolgten mit dem im IPT entwickelten Verfahren (HMTP) mit Mehrfachpackern und elektrischen Leitfähigkeitsgebern. Ein analytisches Verfahren zur dreidimensionalen Ermittlung der Mengen kontaminierten Wassers wurde für die künftige Befassung mit dem Problem entwickelt.

Jan 1, 2003

By C. N. Harman, N. S. S. Rama Rao

Production of Ferro-alloys through submerged electric arc furnace involves use of electric power as one of the major inputs. Hence the production by this power intensive process can be made economically more competitive if the specific power requirement for smelting each ton of the product is brought down. This becomes all the more necessary where the power cost is comparatively high, like in India. Since the day FACOR started production of Ferro Chrome in 1968, briquetted chromite fines along with lumpy ores were used as feed. Subsequently the increase in the proportion of briquettes and reduction in lumpy ore helped in increasing the use of chromite fines and also brought down the specific power requirement. Meantime FACOR had been closely watching the technical development of use of sintered pellets in Outokumpu and SRC Processes which need still lower specific power. But the high capital requirement for a pelletisation plant kept FACOR from introducing pellets feed to their Ferro chrome furnaces. So this was postponed to be adopted in future. In February 2004 in the ?1st Ferro-Alloys India?, a paper [1] was presented by Dr. Amit Chatterjee. In the questions period after the presentation of the paper there came up a discussion in which it was revealed that with the Indian high grade chrome ores it was not possible to make sufficiently strong pellets, unless a larger percentage of bentonite is used as binder. This is because the Indian high grade Chrome ores have different mineralogy of gangue content compared to low grade ores in Finland and South Africa. Higher usage of bentonite gives rise to higher slag volume and this would result in increased specific power. Since FACOR had plans to go in future for sintered pellets feed, this gave rise to a doubt on success of pelletisation for Indian high-grade chrome ores. This prompted FACOR to take up experimental production of sintered chromite pellets and use of the same in one of their existing furnaces for production of high carbon Ferro chrome. The results are encouraging and are summarized in the paper.

Jan 1, 2007

By P. J. Nel, A. Täuber

SYNOPSIS A method is described whereby finely ground glassy granulated blastfurnace slag mixed with small quantities of clay, whiting and quartz has been used for making ceramic tiles in the laboratory. The tiles were semi-dry pressed and devitrification as well as sintering occurred during firing. The properties of the resulting product compared favourably in many respects with ordinary ceramic flooring materials.

By M. D. Mwema

Copper oxide ores deposits in the Katanga province of the Democratic Republic of Congo (DRC) contain at variable level cobalt oxide minerals. In contrast to copper oxide minerals which readily dissolve in the sulphuric acid solution, the cobalt oxide bearings are difficult to dissolve, especially if cobalt is present in the third oxidation state (Co2O3). This species become soluble after reduction of Co+3in Co+2. In practice, the use of reducing agent is therefore necessary in order to transform the insoluble minerals into soluble cobalt sulphate species. The following reducing agents are currently used at the Shituru plant: ferrous ions, which are present in leach solutions, pulverised copper or sodium meta bisulphite (MBS). Due to the high consumption of reducing agents (0,8 t MBS/t of solubilized Co; 1,2 t Cu/t-Co), cobalt production is expensive. The use of sulphur dioxide as reducing agent was then investigated in order to reduce operating cost. This reagent also presents the advantage of sulphuric acid production during the leaching process. It has been added in the leaching vessel (tank). From the laboratory and industrial tests, selective leaching of cobalt (78%) has been performed. The cobalt leaching kinetic depend on sulphur dioxide dosage. Dissolution of copper, iron and manganese remained very low. No emanation of SO2 gas was observed during the process.

Jan 1, 2002

By R. D. Hancock

The loading and selective properties of a number of commercial and experimental resins developed for the extraction of base metals were evaluated. Particular applications that ",:ere considered included the extraction of copper from artificial dump liquors, the treatment of Iow-grade copper, nickel, and cobalt liquors, and the removal of nickel from a cobalt electrolyte. Reagents that showed promise were two experimental resins developed at Mintek containing pyridyl imidazole active groups and two Dow resins, XF4195 and XF4196.

Jan 1, 1982

By S. Plaatjie, L. Linzer, M. S. D. Manzi, M. Sihoyiya

Fiber-Optic Sensing and UAV-Platform Techniques for Innovative Mineral Exploration (FUTURE) is a joint European Union and South African consortium project funded under ERA-NET Cofund ERA-MIN3. The project aims to develop cost-effective and novel seismic methods to image geological structures ahead of the mine face, ultimately leading to improved decision-making and safer mining practices. In this study we present results from numerical simulations conducted at South Deep Gold Mine for active in-mine seismic surveys. The study uses a finite differencing code known as WAVE3D, which models models the propagation of a seismic wave generated by stress pertubations that are applied to a defined grid. The numerical simulation model included two major ore bodies (Black Reef and Ventersdorp Contact Reef) and mine tunnels. The model was constrained using laboratory physical property measurements from underground borehole samples such as seismic velocities (e.g., compressional and shear waves) and bulk densities. Two case studies were created, one modelled the active shots and receivers on surface, and the other modelled the shots at depth (in a mine tunnel at ~4000 m depth) with receivers on surface. In both cases, the objective was to investigate the wavefield propagation through the rockmass between the mine tunnel and surface. The simulated wavefield produced by the source located along the mine tunnel was successfully recorded on surface. The surface-recorded wavefield exhibits clear one-way P-wave arrival times at approximately 450 ms to 500 ms, which can be used to calculate the surface-tunnel P-wave refraction tomogram. The results from the study were used to constrain the design, and for the acquisition and processing of the real surface and in-mine seismic surveys acquired under the FUTURE project.

Jan 12, 2025

By B. L. Eggers

This study investigates the application of computed order tracking with subsequent rotation domain averaging and statistical analysis, to the drag gearbox of a dragline used in a mining environment. Computed order tracking is a fault detection method developed to deal with the varying speed conditions often found in industry and has been proven effective in laboratory conditions. Its application to real situations, however, requires some adjustment to deal with issues such as inadequate speed data and the fact that the drag gear rotates in two directions. This provides a unique opportunity to observe the performance of the order tracking method in a bi-directional rotating environment, allowing an investigation of the relationships between the results obtained from each operating direction. A monitoring station was set up aboard the dragline and data was captured twice daily for a period spanning approximately one year. The data captured consisted of accelerometer and proximity sensor data. The key on the shaft triggers the proximity sensors, allowing speed and direction to be measured. The measured speed is interpolated by using various speed interpolation techniques. Then the interpolated speed is used to complete the order tracking procedure that resamples the vibration data with reference to the speed. The results indicate that computed order tracking can be successfully employed in real environments. Furthermore it is shown that the rotation direction that opens the gear-tooth crack gives a better indication of incipient failure. It is therefore important not to disregard either direction when monitoring rotating machinery of this kind.

Jan 1, 2007

By M. Grodner

Ground Penetrating Radar (GPR) is an electromagnetic geophysical reflection technique that maps reflections associated with a change in electric properties of the target medium. It can thus be used to map the geometry of geological features and fractures as these can have different electromagnetic properties to intact rock. GPR was used successfully to determine the position and nature of the fractures in the tunnel sidewall, in the area of the simulated rockburst experiment. By comparing the radar scans acquired before with those acquired after the blast, it was possible to determine which fractures were reactivated by the blast and where new fractures were developed. It was found that the mining-induced fractures that formed during the development of the tunnel were re-activated by the simulated rockburst, as indicated by their increased reflectance on the radar scans. In addition, several new tunnel sidewall parallel fractures developed in the area of the blastholes. GPR thus clearly shows how and where the fracture pattern changed as a result of the blast and contributed to the understanding of the mechanisms of damage associated with the blast, and perhaps rockbursts in general.

Jan 1, 2001

By T. M. Russell

"Face mapping is a simple but invaluable means of geological and geotechnical data acquisition whereby intact rock properties, rock mass properties, discontinuity properties, and structural orientation can be assessed. Although traditionally done via direct contact with the mapping face through techniques such as line mapping or window mapping, remote face mapping using various digital techniques has become increasingly popular in recent years. Sishen is a large open pit mining operation requiring a comprehensive geotechnical data-set to evaluate pit wall design and stability with the necessary level of confidence. Geotechnical borehole data, face mapping data, geotechnical laboratory testing data, and implicit structural models provide the main sources of this information. Although a large geotechnical borehole database has always been maintained at the mine, face mapping has in the past been restricted to sporadic and isolated stability assessments. In 2013 the mine acquired a terrestrial laser scanner with the resolution, photographic capabilities, and software required to carry out geotechnical face mapping. A face mapping procedure was set up based on accepted face mapping methods, the data requirements of the mine, and capabilities of the laser scanner system. Mapping data obtained from the scans was integrated into the Acquire geological data management system, a purpose-designed structured query language (SQL) database system used for storing the mine’s geotechnical data. Within the geotechnical design process, having face mapping data available has improved confidence in the properties of the rock mass and structural environment, allowing for better definition of geotechnical design sectors. Overall, the face mapping and geotechnical analysis features of the terrestrial laser scanner in use make it an invaluable geotechnical data capture tool, provided a system is in place to store mapping data in a manner that allows for meaningful rock mass and structural information to be produced. IntroductionFundamental to the geotechnical design process is the acquisition of a reliable and complete geotechnical data-set. Geotechnical data acquisition will typically commence during the early stages of a project and continue well into the operational life of the mine, with the data confidence progressively increasing as the amount of data captured increases. Sishen mine currently bases all open pit geotechnical designs and geotechnical risk assessment on geotechnical borehole data in conjunction with interpreted structural models. Boreholes are logged and the data is captured in an ongoing process. This process forms the initial step in the geotechnical design and risk assessment process whereby the raw data is used to classify the strength properties for each lithology, provide inputs for geotechnical block models, and ultimately provide the inputs for slope design analyses. To date, borehole data has provided the only largescale, organized data-set for input into geotechnical analyses at Sishen. Although borehole data is the best and most comprehensive form of geotechnical data, there are some shortfalls that can be addressed by other data collection methods. These shortfalls are as follows."

Jan 1, 2018

By Braam Blom

PK2 Ventilation shaft is part of Paardekraal No 2 twin shaft system that is being developed to replace depleting Merensky reef production at Paardekraal shaft complex. The sinking team at this shaft faced considerable challenge of improving the total sinking cycle in order to be able to deliver the fully equipped shaft on time and on schedule. The cladding support cycle was identified as the tedious and time consuming activity in the overall shaft sinking operation. Reduction in the time required for handling and setting up the support installation equipment, and the time required for subsequent installation of the necessary support has a direct impact on the overall cycle time, and consequently the overall productivity and efficiency of the sinking operation. This reduction in support cycle was achieved by making use of machine carousel. The objective of this paper is to describe the support methodology that was used during the ventilation shaft sinking and the use of the machine carousel to reduce the cladding support cycle. The machine carousel replaces the traditional use of machine kibble in conventional vertical shaft sinking and has been designed specifically for installation of sidewall support at the shaft bottom during the sinking process.

Jan 1, 2009

By Braam Blom

PK2 Ventilation shaft is part of Paardekraal No 2 twin shaft system that is being developed to replace depleting Merensky reef production at Paardekraal shaft complex. The sinking team at this shaft faced considerable challenge of improving the total sinking cycle in order to be able to deliver the fully equipped shaft on time and on schedule. The cladding support cycle was identified as the tedious and time consuming activity in the overall shaft sinking operation. Reduction in the time required for handling and setting up the support installation equipment, and the time required for subsequent installation of the necessary support has a direct impact on the overall cycle time, and consequently the overall productivity and efficiency of the sinking operation. This reduction in support cycle was achieved by making use of machine carousel. The objective of this paper is to describe the support methodology that was used during the ventilation shaft sinking and the use of the machine carousel to reduce the cladding support cycle. The machine carousel replaces the traditional use of machine kibble in conventional vertical shaft sinking and has been designed specifically for installation of sidewall support at the shaft bottom during the sinking process.

Jan 1, 2009

By M. L. Smith, G. Karunatillake

Lead-zinc production at MIM, Mount Isa includes three mines, a lead concentrator, zinc filter plant and lead refinery. Lead production is vertically integrated with lead-silver bullion shipped from Australia to London for refining. Zinc is sold as a concentrate. All three mines have reached varying states of maturity mining a multitude of orebodies having significant variation in grades and metallurgical recovery for three metals. Based on current levels of measured resources, the remaining project life is at least ten years. The objective is to schedule production over the life of all three mines so as to maximize the present value of the complex. Additional scheduling complexity arises out of the implementation of long-term schedules, capital expansion projects for both mining and processing, the presence of substantial inferred reserves and interactions with MIM copper production. A large-scale, time-dynamic, life-of-complex Mixed Integer Program (MIP) production schedule was formulated to optimize lead/zinc cash flow based on a detailed life of project production scheduling study. The requirements for such a study are detailed herein. The operational feasibility of the MIP solution is compared against a non-optimal approach to strategic life-of-mine scheduling. The strategic planning emphasis placed on the MIP is compared to the implementation of a life-of-mine schedules at Mount Isa using spreadsheets and other popular commercial mine schedulers.

Jan 1, 2003

By D. Mjonono, S. T. L. Harrison, N. Maliela, A. Kotsiopoulos

The improvement of coal waste management practices, through the co-disposal of waste rock with sulphur-lean fine waste tailings (<1 mm in size), can potentially mitigate acid rock drainage (ARD). On exposure to natural oxidants, the sulphide compounds present in mine discards generate acidity, creating a cyclical oxidation process intensified by iron and sulphur oxidising microorganisms. To inhibit the emergence of ARD, a stable mine dump may be constructed that is structurally stable and incompressible through the mixing of complementary waste fractions that reduce voids and access to acid generating surfaces. However, large voids manifest as scale increases, due to decreased particle interlock, enabling the unrestricted access of oxidants leading to the early onset of ARD. To avoid this phenomenon, enhanced packing approaches based on geochemical and geotechnical characterisation tests were employed to improve bed stability. These were assessed for long-term prevention using aggressive oxidative conditions typical of heap leaching applications. Favourable results were obtained for both blended and multi-layered systems. However, long-term success was most notable in beds with alternating layers of waste rock and fine waste tailings with co-mingled systems being more susceptible to failure. Deconstructed co-disposed beds provided valuable insight into post-leach structural transformations. Results indicated that relative changes in initial coarse discards to fine waste ratios were most notable in blended systems. Mass fractions of the comparatively more mobile fine wastes increased axially down these test columns that ultimately resulted in increased contact of oxidants with the acid generating waste discards. Conversely, more consistent ratios were observed in multi-layered configurations. In these systems, near impervious hardpans were created by the moisture retaining fine tailings, forming stable structures with neutralising barriers sustained at each alternating layer. Consistent with post-leach geotechnical characteristics, static acid-base accounting tests showed that the uppermost sections of blended systems were more susceptible to oxidation due to structural failure with fine particles migration, while the more stable multi-layered configuration evenly maintained neutralising capacity. Keywords: Acid rock drainage (ARD), bed structure, mobility of fine particles

Jan 1, 2020

By T. Struminski

The paper is aimed to assess the possibilities of usage of pyrometers and thermal cameras to study ventilation and environmental conditions in underground mines. Surface and underground thermovision tests were carried out in the Rudna mine and included channels and diffusers of some selected fan stations, shaft crest closures, engines of central fans and their instrumentation. The thermovision underground tests in the Rudna mine consisted of ventilation barriers, underground fans, temperature of rocks, ventilation machines, parts of belt-conveyors and electric machinery.

Jan 1, 2003

By J. Witley

"Narrow tabular platinum group element deposits in the Bushveld Complex of South Africa are typically evaluated by diamond core drilling from surface. Several short deflections are drilled from each mother hole in order to obtain multiple intersections at a close spacing (less than 1 m). Examination of the intersections from deflection drilling revealed the importance of these deflections in understanding the representivity of the borehole, obtaining an estimate of the nugget effect, and mitigating the undesirable effect of the high grade variability at the ultra-short range that is a characteristic of these deposits. The use of deflections in estimation was investigated by means of a number of techniques and scenarios in order to find the most appropriate way to use them in an estimate. A significantly improved level of confidence was gained from using multiple close-spaced intersections rather than a single borehole intersection. IntroductionThe Upper Group 2 chromitite layer (UG2 or UG2 Reef) is known for its remarkable geological continuity, being traced almost uninterrupted for tens of kilometres. However, what is often less well emphasized is the high variability in platinum group element (PGE) grade and thickness (and therefore PGE content) and internal reef stratigraphy over very short distances (several metres or even tens of centimetres).This paper examines the application of short drill-hole deflections in evaluating UG2 PGE mineral resources at Marikana in the western Bushveld Complex of South Africa."

Jan 1, 2017

By A. N. Clay

In recent times, there has been criticism of the minerals industry over the lack of quantifiable boundaries between inferred, indicated, and Measured resources. A recent initiative through the United Nations aims to try to converge the mineral resource classification systems. Since the oil and gas industry uses a probabilistic approach to defining reserve boundaries, it is appropriate to introduce a similar statistical methodology for minerals. The Venmyn Variance Tower has been developed based upon traditional statistics to utilize historical and ongoing information in order to quantify variance of geological and chemical parameters and the boundaries and logic for quantitative mineral resource classification. It is proposed that a less than 50% variance from the mean of all sample parameters is required to achieve the classification threshold to define an inferred Resource whereas between 20-10% is needed for an indicated Resource and less than 10% variance from the mean is needed to declare a Measured Resource. These limits are similar to those used by the oil and gas industry, and it is suggested that these thresholds be adopted as an industry standard to ensure consistent quantitative reporting. While this process is intended to use statistics of an orebody to provide quantifiable and defendable boundaries, it cannot be carried out unless the geology of the mineral deposit is understood and the borehole samples can be categorized into appropriate populations for which the statistics are valid. This means that competent geologists are always required to work with and understand the implications of the Variance Tower results. This paper is intended to form the basis of a series of publications that establish a process to take mineral projects along a quantifiable and logical development path. Hence, no specific field example of the practical application of this process is given here.

Jan 1, 2012

By E. Isokangas

A mine is essentially a series of operations, including drilling and blasting, crushing, milling, flotation, and leaching, that are interconnected and therefore interrelated, with the performance of one operation affecting the performance of another. Optimizing each stage separately without considering the whole system often causes potential economic benefits and energy savings to be missed. However, the PIO methodology is a thorough approach which considers these individual process activities within the context of the whole process. The basic principle is to optimize the process as a whole, rather than each process step in isolation from the others. Metso?s Process Technology and Innovation (PTI) group offers a global consulting service for the mining and construction industries. A significant amount of this consulting work involves process integration and optimization (PIO) studies. When conducting a PIO study, every aspect of the process is considered. In addition to drilling and blasting, transportation, handling and storage, crushing, screening, grinding, flotation, separation, and recovery, other aspects including equipment utilization and energy consumption and even greenhouse gas emissions are also included if necessary. In a PIO project, it is very important to understand what type of material is being processed at any point in time. That is, which domain or domains is the material part of? This is necessary in order to observe the effect of different ore sources (and the blending of sources) on concentrator performance. Linking the ore from the pit to the concentrator required the development of an ore tracking system. As a result, PTI developed a radio-frequency based material tracking system called SmartTag?. This system allows tracking of ore from its source through blasting, run-of-mine (ROM) pads, crushers, intermediate stockpiles, and finally into the concentrator. Using the SmartTag? system, definitive correlations can be made between the performance of the plant and the plant feed characteristics, including the domain from which the feed ore originated. Since its commercialization in 2007, SmartTag? has been used in the majority of PTI?s consulting projects and several permanent systems have been installed worldwide1. Successful applications of the SmartTag? system have encouraged development to allow the system to be used in a wider variety of plants, in particular plants with finer crushing and screening stages. This paper describes how the SmartTag? system is being utilized by PTI and the benefits being gained by its use in PIO projects, as well as presenting some case studies.

Jan 1, 2012

By M. R. Samis

The great variability of mineral and energy prices has motivated some governments to incorporate a windfall profits tax into their mineral taxation regimes. Windfall profits taxes are a means for governments to capture additional mineral revenue when mineral prices are considered higher than some historic level. Governments need to be aware of the effects of such contingent taxes on the exploration, development and operating decisions of mining companies. Mining companies need to be able to calculate the full impact of windfall profits taxes on the economics of their projects. This paper examines the valuation of a multi-phase copper-gold project in the presence of a windfall profits tax. Real options Monte Carlo simulation is used to characterise the different exposures of the mine owner and of the government to the risky cash flow streams that they receive from the project. The results highlight that Monte Carlo simulation paired with the real option valuation method is able to account appropriately for the differing risk exposures, while the traditional discounted cash flow valuation model is not. Our key conclusion for governments and mining companies is that the impact of contingent tax and royalty terms can and should be assessed using advanced valuation techniques, and the results used to improve contract designs under the constraint of actual and perceived fiscal system stability.

Jan 1, 2007