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By Y. Wang, J. D. Miller, C. L. Lin, Virginia Tech

Conventional flotation machines are typically limited to a particle topsize of 150-200 microns due to inherent constraints created by the pulp and froth phases. To overcome these limitations, a novel fluidized-bed flotation system called the HydroFloatTM Separator has been developed specifically for the purpose of floating coarse particles containing only small amounts of exposed hydrophobic minerals. Over the last decade, this technology has been successfully applied to industrial minerals with several full-scale units installed to recover particles up to and exceeding 3,000 microns diameter. More recently, sulfidebased test work has shown that this novel device is also capable of recovering metalliferous values at a grind size that is much coarser than currently used in industrial concentrators. In the current study, high resolution X-ray microtomography (HRXMT) was used to experimentally compare the degree of exposed grain surface area necessary to recover coarse particles using the HydroFloatTM technology to that attainable using a traditional mechanical flotation cell. The data indicate that exposed grain surface area is a critical factor for coarse particle flotation. For the gold-bearing sulfide ore examined in this study, the HRXMT data suggest that near complete recoveries of coarse (850x500 µm) multiphase particles containing as little as 1% exposed grain surface area were realistically attainable using the HydroFloatTM technology. As such, this new technology may offer a unique opportunity for increasing concentrator capacity by increasing the primary grind size needed for rougher/scavenger separations.

Jan 1, 2016

By V. C. Pandolfelli, P. Bonadia, F. A. O. Valenzuela, L. R. Bittencourt

Refractories for aluminum cells, if not properly selected, can lead to increased energy consumption and even shorten the pot life. Based on recent advances in understanding the deterioration mechanism of cathode materials, several commercial bricks in the SiO2-Al2O3 system were compared to the one used by an Alcoa smelter. Both physical and chemical properties were considered in the selection of the refractories. A more reliable method of permeability measurement, which takes into account inertial and viscous effects during the fluid flow, was applied. Additionally, the traditional cup test and other characterization techniques, such as thermal conductivity, X-ray diffraction, and mercury porosimetry, indicated that a brick with a relatively low alumina/silica ratio, presenting low open porosity and low permeability, far exceeded the performance of the brick currently in use.

Jan 1, 2004

By F. Golestani-Fard, A. A. Nourbakhsh

In this paper microstructural development of nitride-Bonded SIC refractories is reported in presence of Al203, Mg() and Urea additives .The samples were prepared by mixing, shaping and firing at 1400-1500°c in a controlled atmosphere furnace. Phase analysis, microscopic observation and mechanical evaluation were taken for microstructural investigations. The strength of samples doped with Al203 was first increased and then decreased at higher amount of Al2O3 additions. The addition of MgO decreased the strength while the urea showed an improving effect on strength. These phenomena could be attributed to microstructural evolution and mainly to liquid phase formation and grain morphology. It was found that the additives such as Al203, MO and urea could modify the microstructure in terms of phase formation and texture modification, which in terms influences the mechanical behavior.

Jan 1, 2004

By J. M. Paxton, R. L. Roscoe, G. A. McCreary, W. W. Muir, T. J. Drown, D. A. Barr, T. W. Law

"This paper reviews the complete cycle of a small mining operation in a remote section of northern British Columbia, including discovery, exploration, development and production. The discovery of high-grade epithermal gold-silver mineralization occurred in 1969 following a regional geochemical reconnaissance program designed to search for porphyry copper mineralization in the Cassiar-Omineca Mountains. Exploration and development from 1971 to 1979 included geological, geochemical and geophysical surveys; trenching, almost 30 000 feet of surface and underground drilling in about 100 holes and cross-cutting, drifting and raising on the principal goldsilver- bearing vein. This led to the delineation of 100000 tons at an estimated grade of0.9 oz gold per ton and 18 oz silver per [on to an average depth of 120 feet below surface. of a 100-ton per day mining operation employing about 50 personnel with all supporting infrastructure transported to the site by a Hercules aircraft. The operation was subsequently supported by its own Twin Otter aircraft with periodic Hercules campaigns supplying major items including fuel.The mining operation included both open-pit and cut-and-fill methods. The milling operation employed conventional cyanide leach process with cyanide destruction initially by alkali chlorination and subsequently by the Inco SOl /Air process.The fly-in operation, initially structured on a 21-day-in and 7-day-out basis was modified to al-t-day-in and Z-day-out basis with no loss in efficiency and with a significant increase in employee satisfaction. The operation, which earned the B.C. Small Mines Safety A ward in two consecutive years in its Ll-month operating history, emphasized safety and process hazard awareness. Wildlife studies in the environmentally sensitive mine area also showed that industry and wildlife can coexist in harmony.Most importantly, the paper compares the feasibility assumptions with actual operating experience."

Jan 1, 1986

By Yan Jie

A series of production technologies are described for gold recovery from complex gold concentrate blended with copper concentrate treated in the SKS smelting process comprising: 1) Feed preparation and proportionate feeding of complex gold concentrate and copper concentrate; 2) SKS smelting gold recovery operation and process control technology developed based on reaction mechanism, process simulation and slag formation optimization study; 3) a dry-process quenching arsenic collection technology developed during de-bottlenecking severe restriction of SO3 in the off-gas on As collection system by suppressing and eliminating SO3 in off-gas as a result of optimizing SKS smelting process conditions and spraying caustic soda absorbent so as to reduce off-gas dew point temperature; 4) electrorefining of impure anodes; 5) technology for recovering such precious metals as Au, Ag, Pt, Pd, etc. from high-Sb copper anode slime produced as a result of gold recovery from complex gold concentrate by using SKS smelting process. INTRODUCTION Gold concentrate resources in China are mainly found in Shandong province, Henan province and the Inner Mongolia Autonomous Region, etc. Currently, recovery of gold is based on pre-oxidation (roasting) cyanide leaching process. This process produces a large amount of cyanide-containing wastewater, cyanide leaching residue and relatively high SO2-bearing flue gas during production, which can cause increasingly more serious environmental pollution issues. Besides, this process route suffers from a relatively low precious metals recovery (70–80%) found when treating refractory gold concentrate and carbon-bearing gold concentrate. These issues have severely restricted the development of the precious metals processing industry in China.

Jan 1, 2019

By Christopher W. Corti

A major aim of the GOLD 2003 conference, is to promote new gold related science and technology with a view to developing new useful industrial applications for gold. Current industrial uses have provided a steady annual industrial demand for gold of around 350-400 tonnes in recent years, the bulk of which is centred on electronics applications, with dental uses constituting the second largest application. However, there is good reason to believe that whilst gold will continue to play a major role in these sectors in the future, substantial growth of demand is not anticipated. Increased industrial demand for gold is only likely to come through the emergence of new applications, probably most significantly in five broad market sectors: ? Pollution and emission control technologies, including fuel cells. ? New uses for gold in advanced electronics, electrical systems and devices. ? Chemical processing of a range of bulk and speciality chemicals, using gold based catalysts ? Advanced coatings exploiting the novel properties of gold, particularly in nanoparticulate form. ? New biomedical uses for gold including medical treatments, drugs, implants, sensors and devices. There is cause for optimism that many new applications for gold could emerge in these sectors over the next decade and that this will lead to a substantial growth in demand for gold. It is clear that many of these new opportunities will be based on a chemical approach to synthesis of useful products rather than what has historically been a materials or mechanical approach. To turn this expectation into reality requires sustained support of R & D and a determination to exploit this new science and technology into viable commercial applications.

Oct 1, 2003

By E. M. De Souza

"A scientific testing program, sponsored by the Mining Industry Research Organization of Canada (MIROC), was undertaken on the surface and underground facilities of Inca's Crean Hill Mine to investigate the effectiveness of using dry drilling with a dust control system.The surface test work consisted of the monitoring of advance rates and bit life white a series of 165 mm holes, wet and dry, were drilled at both mine air (0.69MPa) and high pressure air (1.72MPa). The results, based on statistical evaluations of field data, indicated that penetration rates can be increased by an average of 24% when drilling dry with high air pressure and by approximately 27.5% when drilling dry with mine air as compared with wet drilling under the same conditions. Dry drilling also has the effect of reducing button wear by approximately 69% using high pressure air. The underground test work employed a dust collection system developed for use with large diameter holes (165 mm) and high pressure drilling. The testing program has indicated that an average increase in penetration rate of 35% can be achieved when dry drilling in rock (waste) and of 49% when dry drilling in ore with high air pressure. Although preliminary dust monitoring did not indicate any appreciable increase in dust concentration during dry drilling, further dust monitoring is still required.A comparative cost analysis has indicated the potential for reduction in drilling costs when dry drilling is utilized. Further testwork is to be conducted to develop a reliable dust collection system for underground production."

Jan 1, 1992

By Jacek Paraszczak

L?exploitation rentable des gisements de type filonien constitue un problème important dans le contexte actuel de l?industrie minière québécoise. Les études effectuées depuis 1994 ont indiqué, que la technologie d?abattage mécanique utilisant l?outil hydraulique appelé « éclateur radial-axial » constitue une alternative intéressante par rapport aux méthodes conventionnelles par le forage et sautage. Les essais du prototype de l?éclateur ont prouvé qu?il est en mesure d?abattre les roches dures dans un environnement minier, mais sa performance dans les termes de masse du roc abattu dans une unité de temps a soulevé certaines doutes. Pour cette raison, une étude de préfaisabilité de l?éclatage en tant qu?une technologie d?excavation souterraine a été réalisée. Cet article présente quelques résultats des travaux effectués dans le cadre du contrat octroyé à l?Université Laval par le Ministère des ressources naturelles du Québec. Leur objectif principal consistait à comparer, pour les conditions des gisements filoniens, la productivité et les coûts des méthodes d?exploitation souterraine utilisant l?éclatage par rapport à celles conventionnelles. Deux variantes proposées de cette méthode ont été comparées avec la méthode conventionnelle sur le plan du coût (par tonne de minerai) et de la teneur de coupure de minerai d'or. Les études ont démontré que l?application de l?éclatage représente un potentiel de réduire ce coût, surtout dans les situations où l?abattage sélectif pourrait avoir lieu. Pour le cas de base on a trouvé, qu?il serait possible de réduire la teneur de coupure par la marge d?environ 16 ? 26%. Toutefois, les études de sensibilité ont démontré, que le coût dépend de façon important de la productivité d?éclatage, qui, pour sa part, varie beaucoup en fonction de paramètres du massif rocheux devant être abattu.

Oct 1, 2001

By L. H. Rajala, K. H. Singh

"This paper presents the results of a detailed feasibility study carried out to investigate whether a low-grade deep underground mine of Falconbridge Nickel Mines Ltd., closed since 1975, could be made more productive and profitable by the introduction of new mining technology. For this purpose, recent advances in mine design and development concepts, larger and better designed machines, such as hydraulic drills, high-pressure down-the-hole machines, LHDs, new blasting concepts, more efficient and improved stoping methods, and ground control technology were considered. Technical and economic analyses incorporated the latest computer-based techniques. The mine was reopened in 1979 and the paper concludes with an assessment of actual progress and performance compared with that planned and forecast.IntroductionThe East Mine orebody, located between the Falconbridge Mine and Inco's Cryderman Mine in the Sudbury District of Ontario, has been in production since 1956. From 1956 to 1978, about 5.6 million tons of ore had been mined from this ore zone. The ore body is low grade and was developed as a cut-and-fill operation. Due to high operating costs, the mine has been shut down several times during economic downturns. The latest closure was in 1975 due to a lower demand for metal.In 1978, investigations were initiated to assess the economic and technical feasibility of mining this ore using new developments in mining technology. In this study, consideration was given to the application of bulk mining methods with a potential for higher productivity, trackless development utilizing efficient LHD machines and hydraulic drills, new blasting and fragmentation concepts, and new ground control technology. Advanced computer techniques, such as finite element, for mine design and rate of return with discounted cash flow analyses for the economic comparison- of various mining options were utilized for a rapid and comprehensive assessment during the feasibility stage."

Jan 1, 1981

By Gérald Riverin, Bernard Boily, Daniel Bernard

"The Donalda gold deposit is located in the southern part of the Noranda camp, approximately 2 /em east of the Horne deposit. Combined past production and current reserves total over 1.5 Mt grading 6.9 grams of gold per tonne.The deposit consists of two main veins which are both narrow but persistent structures. The No 1 Vein, hosting about 80% of the gold ore, consists of an EW-striking banded quartz vein dipping on average 25° to the south. Although variable in thickness, it averages lessthan1 metre. TheNo2 Vein, located 300 m below the No 1 Vein, is similar to it except that it dips 50° south. Gold occurs mostly as fine native gold disseminated in quartz, with 2-3% pyrite and trace amounts of various sulphides and tellurides. The wall rocks are only weakly altered and mineralized with pyrite, hematite and sericite.Structurally, the Donalda deposit is centered on the Horne Creek fault (HCF) where the HCF is intersected by the ENE-trending DonaldaandCentralfaults.NorthoftheHCF,theNo1Veinishosted by the Quemont Rhyolite, whereas south of the HCF the vein is hosted by magnetic basalts and diorites of the Wilco Andesite Formation. The No 1 Vein extends across the HCF with only minor displacement, whereas the No 2 Vein has not yet been traced south of the HCF.A preliminary structural analysis of the mine shows that the HCF, which strikes 275° and dips 70° north in the mine area, has a reverse movement a lid that the flat dipping No 1 Vein is a tension vein. Both probably developed in response to the same stress conditions. Although the absolute age of the Donalda veins is not known, structural relationships indicate that they formed during the latest movements of the HCF, but prior to the intrusion of the Proterozoic D' Eldona Diabase. The occurrence along the HCF of gold-rich synvolcanic massive sulphides and much younger vein-type gold deposits (such as Donalda) indicates that the HCF was a very long-lived, deep-seated (?)structure which has controlled the circulation of gold-rich fluids over a long period of time."

Jan 1, 1990

By D. C. Martin, P. M. Hawley, C. P. Acott

"In bedded deposits such as coal or sedimentary iron, economic limits of mineable reserves are clearly defined by the footwall of the seams or ore-bearing units. Where open pits are developed in dipping strata, a long, high footwall slope may result. In many cases, unbenched slopes excavated along the base of the lowest mineable seam are operationally simple, economically desirable and geotechnicalty practical, although a variety of failure mechanisms may develop. This paper examines the engineering geology and rock mechanics parameters of importance in the design of footwall slopes. Possible failure mechanisms and stability analysis methods are described. Design considerations for benched and unbenched slopes are discussed with prime consideration given to development of long high stopes without benches or with a minimum number of benches. IntroductionIn bedded deposits, the ultimate depth and economic viability of an open pit in dipping strata may be controlled by the design of the footwall slope. The stability and, hence, design of footwall slopes is strongly influenced by the engineering geology and rock mechanics parameters of the slope forming materials. A clear understanding of the structural geology, engineering geology and tectonic history of the deposit is essential to assess the behaviour of the slope. This is particularly important for long high, unbenched footwall slopes such as shown in Photo I.A rational footwall slope design requires identification and assessment of all possible slope failure mechanisms with respect to the proposed slope geometry. Stability analyses of each potential failure mechanism are used to identify the main controls on slope stability and to develop appropriate slope design criteria. The optimum slope design is based on the most economic and geotechnically practical slope geometry with due consideration of operational constraints and of the possible advantages of specific remedial measures."

Jan 1, 1986

By Joanne G. Petrini

ISO 26000 Unique Process Unique Personality ?Almost 10 years in the making ?What type of standard is this? Different type of ISO Standard ISO 26000 Structure and Substance ?Principles ?Core Subjects ?Implementation Guidance ISO 26000 Impact ?Same old, same old? ?So Is there really anything NEW? ?Should I care??

May 1, 2011

By Norma G. González

La littérature et notre expérience en Bolivie dans une communauté minière très divisée comme celle de Huanuni nous montrent le besoin d?envisager des négociations gagnant-gagnant entre communauté et entreprise minière, non pas comme un point de départ, mais comme un résultat à atteindre, qui nécessite la préparation de conditions préalables. Cela implique fondamentalement de mettre l?accent sur le processus qui permettrait par la suite aux parties de mieux traiter les questions de contenu. Suivant cette hypothèse générale, l?initiative conjointe entre le Ministère des ressources naturelles du Québec et le CECI ?Développement des mécanismes de négociation entre communauté et entreprise minière? peut dégager, après un an et demi d?expérience pilote dans le site minier de Huanuni, département d?Oruro, Bolivie, les leçons préliminaires suivantes. Ce processus requiert: ??Agir, en tant qu?organisme consultant tierce partie, selon des principes et une méthodologie qui relèvent de la Communication publique et de la Médiation ; ??Comprendre et agir à partir de la ?réalité sociale? des parties en présence: l?entreprise minière, l?État et les différents groupes de la communauté; ??Intervenir sur les ?réalités sociales? des parties, par des actions d?éducation et de diffusion dans le but de préparer les personnes, les institutions et les organisations de la société civile, à des changements durables du modèle de communications existante; Approfondir la compréhension de la ?réalité sociale? du conflit (la culture du conflit, les méthodes populaires de résolution des problèmes et de gestion des conflits) afin d?offrire aux bénéficiaires les technologies appropriées pour la transformation de cette culture de confrontation violente en gestion constructive des conflits. Par ricochet, nous espérons ainsi faciliter l?attraction des investissements dans le secteur minier.

May 1, 2001

By Lloyd A. Clark

"The kuroko deposits, which are extremely variable in size, comprise both stratiform layers of clastic sulphide particles and cross-cutting vein and disseminated components. The ores lie on the flanks of rhyolitic lava domes which have risen from a postulated subvolcanic magma chamber that provided cupriferous hydrothermal solutions and also acted as a heat source driving ground-water convecting cells. The polymetallic sulphides precipitated initially in explosion craters, pipe fillings and feeder veins as rising hydrothermal solutions mixed with sea water. As sulphides clogged the plumbing system, minor phreatomagmatic explosions produced layers of sulphide fragments on the adjacent sea floor. One to ten repetitions of this process produced multiple fragmental sulphide beds. Each deposit formed in a relatively short space of time, because only minor tuff beds are intercalated in spite of active volcanicity in the region. In this model, the heated ground waters convecting through thick piles of acidic pyroclastic rocks leach the zinc, lead and barium later deposited as kuroko ores. As the subvolcanic pluton cools, the supply of silica and copper wanes and the minor counter-circulation cells above the pluton are replaced by main cell fluids bearing zinc, etc. This change in solution flow is abrupt rather than gradual, as the plumbing system is somewhat disrupted by the magmatophreatic explosions that create each ore layer.IntroductionKnowledge of the kuroko deposits ha s greatly expanded during the 25 years since modern recognition of their volcanogenic origin. However, one aspect of the ore s, which may be of unique importance in their genesis, has received little attention. That is the fragmental character of much o f the sulphide ore, which was briefly referred to in a previous publication (Clark, 1971) and is examined in more detail by Barton (1978). Most researcher s have concentrated their attention on or e deposition above and beyond the vent, which is inconsistent with the geology."

Jan 1, 1983

By Derek V. Ellis

Coastal and marine mines affect the seabed?s biological resources, eg fisheries, when large volume wastes such as tailings are placed on the seabed, and by the extraction processes from marine mining. Worldwide monitoring of such effects for the past 30+ years now provides information to describe Best Practice design, construction and monitoring procedures. The critical environmental factors for submarine tailings placement (STP) are the selection of an appropriate deposition site and discharge depth, the deposition rate of the tailings, and the speed of biodiversity recovery to a sustainable ecological succession. These should be predictable at new sites using current modeling and experimental procedures. Prediction procedures are still needed to minimize potential destabilization of deposited tailings, and consequent biodiversity recovery setbacks. Comparable environmental information is needed from marine mining sites.

May 1, 2002

By Roger Moss

OUTLINE Area selection Mineralization/Alteration Styles Island Copper Mineralization Geophysics Geochemistry Coppercorp Setting Mineralization Geophysics Geochemistry Formation Common Characteristics Conclusions

Apr 1, 2005

By Arthur D. FitzGerald

EDC established an Environmental Review Framework in 1999. Throughout the early fall of 2001, the Corporation held public consultations across Canada to strengthen that framework, leading to a public release on November 15, 2001 of a report summarising the results of these consultations. Following this, the Corporation implemented strengthened environmental review requirements in the form of its Environmental Review Directive, in compliance with legislated amendments to Canada?s Export Development Act that went into effect on December 21, 2001. Over the past few years, there has been a global trend towards an increase in the social and environmental requirements of multilateral/bilateral financial institutions and export credit agencies. More recently, this activity has focussed on capturing institutions that have not yet adopted similar requirements and, more specifically, on developing a convergence of the requirements from institution to institution. This paper describes EDC?s new ERD and some of the initiatives that have taken place or are in process that are moving international financial institutions toward converging their environmental and social requirements for projects in the private sector.

May 1, 2002

By Tapio Leskinen, Jouko Koskinen, Timo Nlltti, Lappalainen Seppo, Pentti Vanninen

"The Courier 300 on-stream analysis system manufactured by Outokumpu has now been in operation at five of the company's concentration plants long enough to give a reliable basis for closer examination of the benefits achieved in control of these processes. The first system was installed at the Pyhiisalmi mine at the end of 1967. Since November 1970, two analyzers have been in operation at Pyhiisalmi feeding the assay data to a process computer which controls the whole plant and does the optimization of the process. In October 1970 the Courier 300 analysis system was installed at S. T. O. LESKINEN J. KOSKINEN the Keretti concentrator of the Outokumpu mine, followed soon by installations at the Vihanti Mine in May 1971, at the new Vuonos mine in November J 971 and at t he Kotalahti mine in December 1971. Since installation of the Courier analysis systems, considerable improvements have been achieved in the control and the economy of the plants. Immediate knowledge of the changes in the process and the possibility for rapid action has resulted in evener production and higher capacity and recovery. The recovery has been increased most significantly at the Vihanti concentrator, which operates on a complex ore. Consumption of chemicals has been reduced at all concentrators. Due to the fact that process control and partly also bilance analysis are not achieved by conventional methods any more, it has been possible to reduce the personnel of the laboratories drastically. Two of the plants, viz. the Pyhiisalmi and the Vuonos concentrators, are computercontrolled. The Vuonos concentrator started operation in January 1972 under computer control from the very beginning. The Pyhiisalmi concentrator has been computer-controlled since 1970. The Courier 300 analysis system was described in detail at the AIME Centennial Annual Meeting (1971). In this paper, less attention is paid to the analysis system. Only the sampling system of the Courier 300 is described in more detail. In the development of sampling equipment, effective use has been made of the company's wide knowledge of the problems involved and the test field offered by its concentrators. The sampling equipment includes secondary samplers and six basically different types of primary samplers, with which most sampling situations can be managed."

Jan 1, 1973

By Robert B. Parsons

"The mining industry is adjusting its sights to take a shot at the rising level of non-profit taxes which threaten to handicap the industry 's competitive advantage. In the case of this particular expedition, the industry evidentally has a strong ally - the country's mines ministers. It appears that an initiative is under way to assess the impact of non-profit taxes on mining in Canada as compared to other mining nations.IntroductionSeventy-five years ago, Canadians were unceremoniously introduced to something called income tax. Since then, income tax has been identified as the source of countless evils ranging from the common cold (attributed to stress) to the demise of the economy. Some years later, the provinces jumped on the bandwagon with their own income taxes, and later on with mining taxes. These profit-based taxes had some appeal to elected officials and to a segment of the populace. The onus of the taxes varied directly with the ability to pay (in theory, at least). Previously, the principal sources of government revenues had been property taxes and customs duties, which were viewed as possibly being somewhat regressive in nature.The mining industry has always had concerns about different aspects of income and mining taxes - the tax rate is too high or the depreciation rate is too low, and so on. Recently, though, the industry has turned its sights on the expanding array of taxes which are not based on profit, including payroll taxes, capital taxes, water taxes, sales taxes, fuel taxes, property taxes, environmental levies and user fees. The industry is seriously concerned that the rising level of non-pro fit-based taxes is not only hampering the industry 's ability to reinvest in Canada, but is also placing Canada at a disadvantage in terms of trying to attract new investment capital."

Jan 1, 1992

By Robert B. Parsons

"This article is based on a paper presented by Jim Scott at the 1988 annual convention of the Prospectors and Developers Association of Canada. The paper suggests a number of factors that might be taken into account in negotiating royalty terms.IntroductionRoyal ties are a part of mining life in Canada. They are used by many kinds of individuals in many kind s of situations. Prospectors commonly take royalty interests back when they transfer claims to development companies. Mining companies disposing of undeveloped (or sometimes even developed) properties are often paid at least in part by royalties. Royalties are even used by institutional investors with no other connection with the resource industry.Such different royalty holders have different investment goals, different cash flow requirements, and different risk / return preferences. These differences have given rise to a number of different royalty type s. These types range from the simplest cents-per-ton royalty (where the operator pays a royalty at a fixed rate per ton milled) to net smelter return or ""NSR"" royalties (where the royalty is based on a percentage of the operator's NSR) all the way to net profit interest or ""NPI"" royalties (where the royalty is based on the operator's bottom-line net profit),The fundamental difference between the many royalty types is in the risk/ return relationship. The cents-per-ton royalty, for example, is relatively risk-free. Of the many economic factors which affect a mine, the only one which will affect the royalty holder is the amount of ore physically milled. On the other hand, the potential for significant gains under a cents-per-ton royalty is also very limited. The royalty holder will not share in any increases in the market price of the end product or any cost reductions achieved by the producer."

Jan 1, 1988