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By R. A. Halet

"The Malartic Gold Fields mine is a good example of the association of ore deposits with a major fault zone. It also exemplifies the control exerted by the physical and chemical character of the host rocks on the localization of orebodies.The mine is in Fourniere and Dubuisson townships, Abitibi county. It is 6 miles east of the town of Malartic, 9n the main highway and railway from Noranda to Val d'Or.The discovery of the mine is due largely to the enterprise of the late J. P. Norrie, who organized the present Company in 1935. The ground is entirely covered by overburden, but Mr. Norrie believed that the extension of the Cadillac-Malartic 'break', the principal ore-bearing structure of the district, would be found on this group of claims. This belief was supported by the discovery of gold-bearing float in the area, and was confirmed by a dip-needle survey and a few pilot diamond drill holes that showed that the favourable Malartic greenstone band passes through the centre of the property.In this way the most favourable area for prospecting was narrowed to a zone 2 ½ miles long by ½ mile wide underlain' by greenstone. The remainder of the property is underlain by sedimentary rocks, which, from experience elsewhere in the camp, were not considered as promising. However, as the entire surface is covered by deep overburden, the location of orebodies even within this more or less restricted area could be accomplished only by a long campaign of diamond drilling. Systematic diamond drilling began in 1936.The contacts of the greenstone band were considered to be the most promising places to begin the work, and the early drilling was concentrated on the south contact, because the orebody of the East Malartic mine, 4 miles to the west, had been discovered on this structure and it was reasonable to hope for a repetition of these conditions. Although the south contact was very thoroughly explored, with a certain amount of encouragement, the work did not prove the existence of deposits of ore grade, and attention was shifted to the north contact zone of the greenstone band. In this locality much more promising results were obtained, and a number of good orebodies were outlined."

Jan 1, 1954

By D. Sancho, M. Weber

"At the start of a new shaft project, a specific number of ground investigations are performed. However, it is not uncommon that the ground conditions during shaft sinking may differ from the designed ones. Therefore, it is extremely important to use tools which minimize discrepancies and to include a monitoring system in the shaft design to collect sufficient data. The paper presents an overview of existing monitoring techniques and discusses future works required to improve, not only the construction during shaft sinking, but also the lining design methodology. INTRODUCTION In most cases, the investigations performed at the start of a new shaft are based on the analysis of rock and soil probes obtained from boreholes. In practice, such analysis performed on a single core often leads to different results when conducted by various experts. The discrepancy in core analysis influences further rock mass assessment and design assumptions. It is not uncommon that the ground conditions during shaft sinking may differ from the designed ones, which affects the estimated stress and strain state of the shaft lining. Therefore, it is extremely important to use tools which minimize such discrepancy and to include into the shaft design a monitoring system to collect sufficient data, which enables control of important phenomena, not only during shaft sinking but also during the life of the shaft. Furthermore, the information collected during shaft sinking, while it is important for proper shaft lining design and updates to the shaft lining due to the local mining and geological conditions, it is also important after shaft sinking. In the whole shaft lifetime, it is not uncommon that the shaft lining is damaged and the liner needs to be renewed (Figure 1) due to various reasons. For this purpose, detailed information collected during construction can be extremely important."

Jan 1, 2019

By Louise Corriveau

Exploration strategies have traditionally considered felsic gneiss complexes of the Canadian Shield sterile. This paradigm is challenged with the discovery of extensive granulite-facies Cu-Au, Fe oxides-bearing hydrothermal systems in the 1.4 Ga Bondy and 1.5 Ga La Romaine volcano-plutonic complexes of the Grenville Province. Early identification of magnetite-rich units in association with meta-exhalite and pelite-like units was key to targeting the search for mineralization, protolith information and indicators of pre-metamorphic hydrothermal activity during regional surveys of these frontier terrains. Textural evidences for a volcano-plutonic setting were found. There remained, however, numerous impediments to the recognition that the ubiquitous magnetite-laden units and associated aluminous gneiss were hydrothermal in origin. Many metamorphic reactions form magnetite at the amphibolite to granulite facies transition, and hydrothermally-leached rocks resemble metapelite or migmatitic restite, while carbonate alteration zones may look like marble or calc-silicate rock. Non-typical metamorphic mineral assemblages, modes and colours arise when hydrothermally-derived rock types are metamorphosed. These effective markers served as tools for reliable field identification of hydrothermally-altered rocks. In our case-studies, we traced pre-metamorphic hydrothermally-driven Fe-oxide precipitation in association with sericitization, albitization, pyrophyllite alteration, chloritization, and B enrichment by mapping unusually high contents of (1) magnetite or hematite, (2) biotite, (3) albite, (4) sillimanite, (5) orthopyroxene or phlogopite with cordierite, and (6) tourmaline or kornerupine. The unveiled garnetite, tourmalinite, and aluminous gneiss had assemblages that vary according to metamorphic grade and composition. To assess if high mode of Fe-Mg-Al phases resulted from partial melting (restitic residue) or metamorphism of hydrothermal rocks, we compared leucosome mineral assemblages, shape and amount with that expected of in situ partial melting reactions. In both areas there is no compelling evidence for these units to be restites. In contrast, the presence of lapilli in garnet-cordierite-sillimanite gneiss, though extremely rare, constitutes conclusive evidence for extreme pre-metamorphic high-sulphidation alteration of a volcanic protolith, while Fe-oxides or sillimanite-bearing nodules and veins record a less pervasive alteration. Geochemical research on element mobility and mass balance calculations further testified of an hydrothermal origin for these gneisses. The magnetite-rich units, together with calc-silicate rocks, garnetite, hornblendite, albitite among amphibolite, provided effective guides to sites of fluid discharge and led to the discovery of Cu and Cu-Au showings. With the presence of highsulphidation alteration, these features suggest early Cu-Au VHMS-type alteration halos within a predominantly felsic composite volcano-plutonic arc setting for both case-studies. Evidences for subsequent F-driven orthomagmatic fluid activity are also present.

May 1, 2003

By M. Fairclough, B. Moldovan

Insights into uranium mining projects of the future can be gained by a careful statistical analysis of past and present deposits, as well as an examination of recent trends for uranium resource evaluation and primary uranium production. The International Atomic Energy Agency (IAEA) provides the necessary data and corresponding mechanisms as inputs for methodologies that enable strategic and scientific evaluations of long-term security of supply uranium required to sustain the demand for nuclear fuel. Sustainability of the uranium mining industry and subsequently new uranium mines of the future requires innovation and expertise to lower operating costs, maintain or improve uranium recovery while meeting the requirements of stakeholders in regard to protection of the environment and safety of the workers and general public.

Jan 1, 2020

By Candido Bariáin

A new vapochromic material of formula [Au2Ag2(C6F5)4(bipy)2]n (bipy = 2,2´ bipyridine) has been developed and used for the detection of some volatile organic compounds as acetone either in vapour or in water solution. The material is presented in the form of powders which colour changes with acetone vapours turning from bright yellow in the absence of vapour to white in the presence of vapour. By using the sol-gel technique, the powder ? dispersed in tetraethyl orthosilicate- was easily deposited on optical fibres. In order to study experimentally the behaviour of this material for construction practical optical fibre sensors, a sol-gel material doped with the vapochromic material is deposited onto an extreme of a monomode fibre connected to a coupler. The behaviour of the material was studied for different wavelengths and concentrations of acetone vapours and acetone/water solutions. Changes up to 4dB in the reflected optical power were detected. Optical fibre sensors have many advantages over conventional ones, such as electromagnetic interference immunity, passivity behaviour, possibility of using multiplexation techniques, low weigh and little size, etc. Actually, there is an increasing interest in developing optical fibre sensor for vapour detection in the chemical industry and in fact many sensor had been developed [1]. Some are based on the deposition of a sol-gel-based material either over the core of an optical fibre [1] or onto the thinner zone of a biconically tapered optical fibre [2]. Others are based on Fabry-Perot interferometers [3]. Also there are sensors based on the reflection of the light on films, on the fluorescence of dye-doped polymer cladding in fibre, on colorimetric reagents in the core of a silica fibre or on surface plasmon [4]. The possible materials for the construction of such sensor should be colorimetric reagents able to change the colour or refractive index in the presence of same organic vapours. There are not many metallic complexes with these properties, although same interesting examples have been reported in the chemistry of palladium and platinum as [Pt(p-R-C6H4NC)4][Pd(CN)4] described by Nagel [5] and Mann [6], which reported the construction of some LEDs. We recently reported the preparation of a novel vapochromic material (Fig 1) [7] which can be used for the construction of optical fibre tapered environmental sensors [8,9] of vapour organic compounds (VOC´s). Also we reported other nickel and palladium derivatives which present this type of behaviour [10]

Oct 1, 2003

By Saba Gharedash

In this study the results of a series of numerical simulations which are conducted for one of the tunnels of the Mashhad metro line 2 project are presented to evaluate the role of tunnel face support pressure and soil strength parameters on deformation of tunnel lining and face deformation. To achieve this goal, comparative numerical simulations of a mechanized tunnel advance in soft non- homogeneous soil on top of the ground water table and beneath the building are conducted and sensitivity analysis is performed. Development of a step by step tunnel construction process is modeled using a three dimensional finite difference model (FLAC3D) taking into account all the relevant components of shield tunneling. In order to understand the mechanism of the effects of a variety of support pressures on face deformation and lining stresses, numerical simulations are conducted. It is found that the use of different face supports causes a considerable influence on the forces of tunnel lining. In addition, it is revealed that building weight help to change the stress paths and the stress distributions in the tunnel lining.

Aug 1, 2013

By Joseph Hirschi, Behrooz Abbasi, Harrold Gurley, Yoginder P. Chugh

"The research goal was to assess if analytical tool/s can be developed to quantify displacements around a geological fault as longwall face moves toward it and past it. A company was faced with crossing a 2-3 m (6-10 ft.) normal up-thrown fault in the development entries and the face while mining a 375 m (1,200 ft.) wide longwall face. A field monitoring and numerical modeling study was performed to develop data. Field measurements consisted of roof-to-floor convergence and rectangular rosettes in the immediate roof. Numerical modeling consisted of constructing a 3-D structural model using the FLAC3D software with the fault plane incorporated as ubiquitous joint. Based on analyses and field observations data, the coal company was informed of impending movements along the fault plane and likely impacts on the development entries. Additional stiff supports were installed in head gate entries around the stage loader and equipment about 60 m (200 ft.) outby of the longwall face (solid). As the longwall face approached the fault, predicted displacements were documented and manifested by severe loading on the installed supports.BACKGROUND AND STUDY OVERVIEWThis paper summarizes results of a cooperative study aimed at improving longwall mining operations in Illinois. More specifically, the study focused on: 1) In-mine measurements in development entries while mining ahead of and behind a faulted zone, 2) Making observations on stability of pillars and entries while mining through the fault, and 3) Developing simplified analytical structural models using FLAC3D to assess if predictive techniques can be developed to plan mining operations through fault zone. Available data on geometry of the fault with estimates of the cohesion and frictional parameters were used for modeling."

Jan 1, 2015

By W. A. Grell

"The oxygen meter has been in use at MacLeod Cockshutt Gold Mines for over a year, At MacLeod about 200 tons per day of reground concentrate containing roughly 10% pyrrhotite and 20% pyrite is cyanided in four 181 x 18' Dorr agitators. A survey by the Department of Mines showed that oxygen content of some of the agitators was rather low. Experience with our oxygen meter indicates that the oxygen content must at times have been too low for good gold dis solution.We have found that in winter, when pulp temperatures drop to about 50° F, oxygen saturation in the agitators is not difficult to maintain. In summer, however, when pulp temperatures rise to 70or 75°F, the oxygen content will drop very readily. It was found that a high oxygen content can be maintained readily if the pulp is sufficiently dilute. Thus at 50° F, a pulp of specific gravity 1. 75 i.e., about 55% solids, will saturate; but at 70 or 75° F, the specific gravity must be decreased to 1 .45, equivalent to about 40% solids, in order to maintain saturation. Very thick pulps, such as thickener underflows, are noticeably difficult to saturate in the laboratory, and lose their oxygen rapidly.Clear solutions, on the other hand, absorb oxygen readily and hold it. The primary thickener overflow, before agitation, is 100% saturated; after storage of 3 to 4 hours it is still 100% saturated at re clarifier tank. Barren solution after spraying in a launder is 100% saturated.We have not yet attempted to determine what percentage saturation is necessary for good extraction, but it is known that there is a point at which extraction decreases rapidly. So far, the measures required to maintain over 80 or 90% saturation have coincided with measures required to hold the reducing power to the point believed necessary."

Jan 1, 1964

By Andrew Young

A Question Murray Dodge ?Inco Stobie Maintenance ?I visually inspect my hoist ropes every day and seldom find anything. Is there a better way to do the inspection?? Based on HRIA research activities, the answer would seem to be ?yes?.

May 1, 2006

By T. G. Joseph, A. Sharma

ABSTRACT: Ultra-class haul trucks operating in oil sand face operational and maintenance issues as a result of soft underfoot conditions (Joseph, 2002). With exposure to frequent high g loading events, tire life is reduced due to sidewall belt fexure and frequent ground contact. Therefore, an improved under-standing of the interaction between tires and oil sand is needed. This paper examines the outcomes of a series of static and cyclic loading tests, performed using a scale tire on rigid, sand, and oil sand surfaces. Geometric predictions are made regarding the footprint area and vertical deformation of an ultra-classtire on similar surfaces.

Jan 1, 2011

By R. R. Montigny

A brief description is given of the history, location and geology of the Granisle Copper Limited operation on Copper I land in Babine Lake. Detailed information is given with regard to pit design, planning, drilling, blasting, excavation and haulage. Equipment maintenance and mining costs are also presented.

Jan 1, 1971

By C. Hunt, J. Vivas, D. M. Allen

"In this paper we present the results of a combined remote sensing - numerical modelling study to improve our understanding of groundwater seepage in open pit and natural rock slopes, and to investigate the interaction between groundwater, in-situ stress conditions and brittle fracture. The location of seepage is a key element in the characterisation of rock slope stability in open pits and natural slopes; definition of the fracture network geometry and its inter-relationship with seepage, however, remains a challenge in engineering practice. Current techniques used to characterize groundwater seepage locations require direct access to the rock slope for a detailed and exhaustive investigation, and can be severely limited due to access and the limited coverage of the survey methods both with respect to the height and length of the sampled rock slope. Herein, we describe remote sensing methods, which allow the collection of structural and seepage information over a wide spatial area. Remote sensing techniques are shown to have the potential to provide additional insights into the orientation and general connectivity of fractures that may play a major role in the general stability of a rock slope. A preliminary methodology for the use of remote sensing in the characterization of seepage zones in a natural slope through the application of ground-based LiDAR and Infrared Thermography (IRT) is presented.One of the most challenging problems in rock slope engineering is the realistic simulation of fluid flow through fractured and deforming rock slopes. Deformation and the development of brittle fractures can cause significant local changes in the permeability and strength of the rock mass, potentially affecting rock slope performance. Understanding fluid flow through fractured and deforming rock slopes, especially in highly-stressed environments is of great importance for slope stability analysis. Changes in the interconnectivity of fractures during slope failure are an important, yet are relatively unstudied in rock slope engineering. We present the results of hydromechanical UDEC-Trigon rock slope models focussing on the potential role of brittle fracture in rock slope failure, its interaction with groundwater pressures, and the influence of the assumed in-situ stress ratio. Damage intensity parameters are used to characterize damage within different regions of a biplanar slope failure."

Jan 1, 2015

By Xiaozhu Chen, Qi Ping, Pu Yuan, Qinyong Ma

"In order to investigate the fractal feature of coalmine deep rock fragments under impact loads, variable cross-section split Hopkinson pressure bar apparatus, 50 mm in diameter, was adopted to conduct impact compressive test for rock specimens from -962m deep coalmine. Various impact pressures, such as 0.3, 0.6, 0.9 and 1.2MPa, were selected to implement different loading rates. Sieving statistical analyses were conducted for rock fragments after being impacted, and the particle size distribution of broken rock in various loading rates were calculated with the fractal method and then the corresponding fractal dimension was obtained. Test results shows that there is a good self-similarity and fractal feature in fragments distribution of deep coalmine sandstone under impact loads. The fractal dimension of fragments is between 1.9 and 2.7. The research also indicates that there is an approximate power relationship between dynamic compressive strength and fractal dimension, and a strength power relationship between fractal dimension and average strain rate. Moreover, there is a linear relationship between fractal dimension and specimen absorbed energy. The rock fractured process can be quantitatively described through fractal dimension, which can reflect the deep rock broken degree and is an ideal index to evaluate the distribution of rock fragments.INTRODUCTIONBroken rock is one of the most basic processes in mining operations, rock fragmentation has always been an important index to evaluate rock breaking effect (Xu & Yu, 1984). Macroscopic fragmentation of rock material is the final results of continuous development, expansion, gathering and cutthrough of internal micro-cracks. This process, developing from microscopic damage to macroscopic fragmentation, is an energy dissipation process and shows fractal characteristics (Xie, 1993). Turcotte (1986) has conducted statistical analyses of fragmentation for different kinds of geological materials under various broken conditions, and arrived at the conclusion that fragmentation distribution is a fractal."

Jan 1, 2015

By V. Vakiloroaya

The paper aims at developing a hybrid solar-assisted air conditioner system for performance enhancement and energy efficiency improvement. To increase sub-cooling of the refrigerant at partial loads, we propose a new discharge bypass line together with an inline solenoid valve, installed after the compressor to regulate the mass flow rate of the refrigerant vapour passing through a hot water storage tank. For control design, a lumped parameter model is first developed to describe the dynamics of the system in an explicit form of input-output relationship. The system has been fully-instrumented to examine its performance under different operation conditions. The system model is then validated by extensive experimental tests. The predictions from the models exhibit a good coincidence with experimental results, judging by an RMS error less than 15%. Based on the obtained dynamic model, a linear quadratic regulator (LQR) is applied to optimize a cost function of the output errors and control efforts. The key challenge is to regulate the refrigerant temperature entering the condenser by controlling the valve opening. The design approach is then tested in a transient simulation tool to predict the system performance in transient conditions. The experimental results obtained from implementation with PLC demonstrate that the proposed system delivers higher system efficiency owing to the higher refrigeration effect in the direct expansion evaporator. Thus, the novel development is promising for improvement of energy efficiency, enhancement of the system performance while fulfilling the cooling demand. Consequently, between 25 and 43% of monthly electricity can be saved on average.

Aug 1, 2013

By Yi Yang, Mark Zoback

"We report laboratory studies of the time-dependent deformation of core samples from four different formations in the Williston Basin - the Lodgepole formation, the Middle and Lower Bakken formations and Three Forks formation. The laboratory tests reveal varying amounts of viscoplastic deformation in response to applied differential stress. The time-dependent deformation is generally greater in rocks with higher clay and organic content, and can be described by a power-law function. Because the magnitude of the creep strain is linearly proportional to the applied differential stress, we can utilize viscoelastic theory and geophysical logs to estimate the degree to which tectonic stress is affected by viscoplastic stress relaxation. We suggest that viscoplastic stress relaxation results in the Upper and Lower Bakken Formations act as frac barriers during hydraulic fracture stimulation in the Middle Bakken, but the Lodgepole and the Three Forks Formations are not frac barriers.INTRODUCTIONHorizontal drilling and multi-stage hydraulic fracturing in shale reservoirs are critical for successful exploitation of ultra-low permeability shale gas, tight gas and shale oil reservoirs. Characterization of the mechanical properties of the reservoir rocks is essential to understanding the behavior of rocks during drilling and completion. Previous laboratory studies have shown that the timedependent deformation in clay-rich shales can be characterized as linear/viscoelastic deformation (Chang et al., 1997; Hagin and Zoback, 2004a, b; Sone and Zoback, 2013b, 2013c). Sone and Zoback (2013c) showed that laboratory measurements of time-dependent deformation in various gas shale reservoir rocks, and demonstrated that the viscoplastic deformation of these rocks can be characterized by a power-law function. They interpreted the results in the framework of linear viscoelastic theory to quantitatively assess the geomechanical effect of viscous time-dependent deformation over engineering and geological time scales. (Sone and Zoback, 2014) further extended the theory and proposed a viscous relaxation model that can be applied to predict the continuous differential stress magnitude using the geophysical logs. They tested the validity of their model by comparing the stress prediction with the occurrence of drilling induced tensile fractures (DITFs) and the vertical hydraulic fracture penetration observed from microseismicity."

Jan 1, 2015

By J. van Huyssteen, M. Cantor

Newmont Ghana Gold Limited's Ahafo Operation has matured from its project ramp up stage into steady state operations after three years of operation. Management focus has shifted from addressing construction and commissioning problems to optimization and improvement. This focus change has coincided with the introduction by Newmont of a Continuous Improvement (CI) program across the company which provided a project management methodology that can be used in the execution of smaller scale projects. This paper focuses on the application of CI principles at the Ahafo Plant through the discussion of several case studies that demonstrate how these principles are applied.

Jan 1, 2011

By Robert B. Parsons

"Considering the traumatic events of Canadian mining taxation of the 1970s, one wonders at the sanity of anybody who tries to predict what the 1980s might hold for the tax structure of the mining industry. Yet, the author agreed to tackle this task when called upon to do so at the annual meeting of the Quebec Metal Mining Association in June. The text of this ""daring"" speech follows.IntroductionI have been asked to play the part of the oracle at Delphi, and to predict what the 1980s might hold for the Canadian mining industry in terms of taxation. To appreciate the challenge of this difficult assignment, try to imagine someone in my position back in 1972 attempting to forecast the balance of the 1970s. I daresay that ten years ago nobody could possibly have conceived of the devastating and casualty-ridden rollercoaster ride that mining taxation actually took in the 70s. Nevertheless, I shall examine the entrails and try to shed some light on what might happen during the balance of this decade as far as mineral taxation is concerned.If one were to retreat deep into history, one would find that taxation generally served one purpose-namely, to raise revenues for the government. More recently, an important second function has emerged: taxation is increasingly being used as a fiscal tool-a tool intended to mould and shape future events in order to accomplish certain economic, social and political objectives. It is these two main forces-the need (or desire) for revenues and the perceived convenience of using taxation as a fiscal tool-which will continue to shape the tax structure of the future.In our assessment of where taxation of the mining industry may be headed, we should be able to learn something by looking at where we have been."

Jan 1, 1982

By Michael Boyle, John Zeni

"The Blind shaft boring method is a mechanised process of excavating large diameter vertical shafts downward from the surface. It is a rotary drilling technique eliminating any requirement for personnel to enter the shaft or access underground workings during drilling and lining phases. Excavated material is delivered to surface carried by a flow of circulating fluid through the centre of drill rods. The drill assembly is suspended from a large A-frame rig and powerful winch at ground level providing vertical thrust to a hard rock cutter head. INTRODUCTION The Southern Coalfields Ventilation Shaft was constructed at a mine, 45 km north-west of Wollongong. The 5 m finished diameter (6.2 m drilled) shaft reaches a final drilled depth of 517 m, the deepest, fully lined blind bored vent shaft to date in Australia. Operated by a mining company in the Southern Coalfields, the expanding mine required a new ventilation shaft and associated surface infrastructure to service future operations. An assessment of future ventilation requirements for the coal seam operations identified a need to improve the capacity and reliability of the existing underground ventilation system in order to ensure a safe and efficient underground working environment. Installation of the new upcast ventilation shaft was determined to be the most cost effective and reliable solution to provide adequate ventilation for underground operations. The completed shaft is smooth and fully lined with steel/concrete composite liners that are hydrostatically sealed. The shaft lining is designed to meet the mine ventilation requirements for a service life of 20 years. The shaft intersects the top of the working section of the coal seam at approximately 513 m of depth. This includes the shaft collar depth and shaft bottom profiled intake section.PROJECT METHODOLOGY AND INDUSTRY BEST PRACTICE The shaft was drilled using the blind bore method, an innovative construction technique and an alternative to the traditional methods of sinking deep and large diameter shafts, such as raise boring and conventional drill and blast shaft sinking. The blind bore method allows the shaft to be drilled from the surface down without anyone having to enter the shaft or the mine during the construction process. This is by far the safest method of shaft construction and is especially suitable for difficult ground conditions where there may be unstable or water-charged strata. As this method involves drilling from the surface downward, shafts can be completed ahead of the underground mine development. Thus, allowing underground operations to focus on development and production without the conflicts of managing ventilation priority for underground contractors and mucking out spoil from excavation workings."

Jan 1, 2019

By Lloyd Buckingham

Barrick Gold Corporation (Barrick) has undertaken innovative methods of evaluating and improving the performance of grinding mills in several of its operations around the world. The results have been positive with some of the mines showing more than 20% net energy improvement leading to more than 43,000 tonnes per year reduction in CO2 emissions in four of the operations reviewed.

Jan 1, 2012

By W. Andrew Falls

Although we have yet to reach the midway point in the decade, the copper concentrate market has already witnessed some of the most volatile swings in history, moving from record high treatment and refining charges in 1991-92 to historic lows, in real terms, during the past year. What has been the cause for such volatility? By and large the swings can be attributed to factors of supply and demand in the "custom" copper concentrate market. For example, two relatively recent events which had a major impact on the supply-demand balance were the shutdown of the Bougainville copper mine in Papua New Guinea in 1989 due to rebel insurgency and the startup of the La Escondida mine in Chile in 1992. The first event, threw a balanced to slightly surplus concentrate market into a substantial deficit, forcing treatment terms down as smelters, caught short by the loss of concentrate supplies scrambled to cover their positions. The second event, brought over 300,000 mt per year of new copper in concentrate to the market, more than reversing the losses from the Bougainville shutdown. In combination with other additions to mine capacity via new mines or expansions, the custom concentrate market moved into a huge oversupply in 1991-92 and many mines found themselves unable to place uncommitted tonnage. But even this event was quickly overcome by the use of underutilized capacity at non-traditional buyers, such as those in the C.I.S., Zambia, or those which were not traditionally buyers of custom materials. All of this has happened in the space of five short years, a mere snapshot in the history of the market. I'll return to these points a little further on, but first I would like to review the fundamentals which govern the copper concentrate market.

Jan 1, 1995