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By T. W. Flemal

Good afternoon gentlemen. To begin, may I say ?thank you? to the AIME for the invitation to be here today to talk about my company's experience with shovel, truck, pocket, to car loading. The other author of this paper is here today. (Introduce John Sweet). Before we get to the details of this paper I want to tell you a little about Erie Mining Company. Erie Mining Company is located on the east end of the Mesabi Range in northern Minnesota and is engaged in the business of processing taconite rock into iron ore pellets. In 1970, the twelfth year of production, Erie will produce its rated capacity of 10.3 million tons of high grade iron ore pellets. The plant is the first of five iron ore pelletizing operations managed by Pickands Mather & Co. with a combined annual production capacity of 21 million tons. This plant began producing high grade iron ore pellets in 1957 placing it among the earliest of taconite production facilities in North America. Historically Pickands Mather & Co. had been a leading natural ore mine managing firm in the Great Lakes region for more than 70 years. Pickands Mather & Co. moved into the new field of taconite mining and processing with management and operational experience from the open pits and underground mines. We were to learn much of volume taconite handling requiring new equipment and new procedures. A trial and error period through the early years of taconite processing developed through the operation of an experimental sized preliminary plant near the present Erie Mining Company site.

Jan 1, 1970

By Ronald Ludchak

Since coal has been designated as the short-term answer to the threatening world energy crisis, improved surface mining techniques, along with improved extraction and handling equipment, are needed to increase the amounts that can economically be mined by open pit methods. A dwindling supply of low cost oil and gas have dictated a major rethinking of our energy sources and their use. New methods for open pit coal mining have to be found to increase coal production and to meet more stringent reclamation laws. Modern twin-engine elevating scrapers can play a vital role in meeting these needs. They are readily available, with short delivery times, from several experienced manufacturers of earthmoving equipment. Recent developments of the elevator system have extended its working range to include many of the materials commonly encountered in open pit mining. The paper deals with the advantages of using twin-engine elevating scrapers in the performance of various mining tasks. These tasks range from utility work to the major task of using the scrapers as a primary stripping toot and, of even more importance, a stripping- reclamation tool for, with scrapers, the overburden can be moved and redeposited in the same strata sequence or soil horizon as in its natural state. A recap of current applications of the elevating scraper will be presented, along with proposed uses.

Jan 1, 1975

By R. L. Virta

Four companies mined ball clay in four States during2004. They were H.C. Spinks Clay (owned by Franklin Minerals) Kentucky-Tennessee Clay (owned by Imerys),Old Hickory Clay and Unimin. Production was estimated to be 1.46 Mt (1.61 million st) valued at about $56.9 million, based on a preliminary survey of the ball clay industry. In 2003, production was 1.31 Mt (1.44 million st) valued at $56.2 million. Tennessee was the leading producer state with 61 percent of production. It was followed by Texas, Kentucky and Mississippi.

Jan 1, 2005

By J. S. Meyer

Although salmonid fishes (including Pacific salmon and trout) have only intermediate sensitivity to copper (Cu) for traditional toxicity endpoints (survival, growth, and reproduction) and thus do not ?drive? the freshwater Cu criteria (e.g., see species-sensitivity ranking in US EPA 2007), Cu concentrations as low as 1 to 2 µg/L have been reported to impair olfaction (the sense of smell) in salmonids in laboratory experiments using dilute fresh water (see references in Meyer and Adams 2010 and DeForest et al. 2011). Olfaction is crucial to predator avoidance, recognition of kin, and reproductive synchronization (Baldwin et al. 2003); and Cu is of general ecotoxicological concern because it can be present in acid/mine rock drainage, industrial and municipal effluents, agricultural runoff, and urban stormwater runoff (Meyer et al. 2007). Therefore, there is public concern that the current regulation of Cu in surface waters is not stringent enough to protect salmonid fishes against olfactory impairment (e.g., OSU 2007; Pearson 2007). Because the toxicity of metals to aquatic organisms is a function of water chemistry [e.g., acute toxicity of Cu generally decreases as pH, water hardness (Ca2+ + Mg2+), alkalinity, and dissolved organic carbon (DOC) concentrations increase; Meyer et al. 2007], hardness-based freshwater criteria for metals are lower at lower water hardness. The recently-developed biotic ligand model (BLM) explicitly takes into account all four of those water chemistry parameters and the concentrations of other major inorganic cations (Na+, K+) and anions (Cl-, SO42-) to predict the acute toxicity of cationic metals (e.g., Ag, Cd, Cu, Ni, Pb, Zn) to aquatic organisms; and the BLM has been adopted by the U.S. Environmental Protection Agency (US EPA) to calculate acute and chronic national freshwater criteria for Cu (US EPA 2007). Consistent with observations of Cu toxicity to aquatic organisms, BLM-based Cu criteria generally are lower at lower pH, water hardness, alkalinity, and DOC concentrations. Therefore, although threshold concentrations for olfactory impairment by Cu can be low in dilute fresh waters, the corresponding hardness-based and BLM-based Cu criteria for the same waters also tend to be low. This leads to a logical question: Are Cu criteria already protective against impairment of olfaction in salmonid fishes, thus obviating the need to decrease those criteria even lower to protect against adverse effects to this physiological/ecotoxicological endpoint? Herein, we demonstrate that in all studies conducted to date, the US EPA?s BLM-based freshwater Cu criteria would have been protective against olfactory impairment in salmonid fishes, but the US EPA?s hardness-based criteria would not always have been protective. This distinction is important because all 50 States in the USA still use hardness-based Cu criteria in their water quality standards, and only some of the States allow use of the BLM to calculate site-specific Cu criteria. Additionally, in the absence of empirical results for calibration of a saltwater Cu-olfactory model, we demonstrate that a proposed unified freshwater-saltwater Cu-olfactory BLM predicts the US EPA?s current saltwater Cu criteria would be protective against olfactory impairment caused by Cu in sea water.

Feb 27, 2013

The speed and internal accuracy of today's electronic calculators can be utilized to write an efficient slurry calculation program. The calculator's input/output printing feature offers additional benefits for data organizing and record keeping. This program allows slurry calculations to be performed without the urgency of immediately transferring a calculated result onto a process flowsheet or specification sheet. The number of flowsheets required for some hvdrometallurgical processes means the number of process stream blocks or ladder diagram entries can become substantial. Slurry calculations for such projects tend to become repetitious and tedious, and the chances for errors increase both in calculation and data entry onto process documents. Using this program has minimized both types of errors. Checking process flowsheets is particularly expedient with the program because you may "walk" through the flowsheet on a weight basis, i.e., solids rate and solids density, and have the program verify and/or correct the volume entries, gallons, and specific gravities. The program was initially used on a beneficiation project to check some 500 data entry values on ladder diagrams covering seven process flowsheets. Numerous hand calculation errors were determined and corrected, and the time for completely checking and correcting the flowsheet ladder diagrams was substantially reduced.

Jan 4, 1981

By D. McSwain-Santos

Soda ash is the trade name for sodium carbonate, a chemical refined from the mineral trona or naturally occurring sodium carbonate-bearing brines (both referred to as natural soda ash) or manufactured from one of several chemical processes (referred to as synthetic soda ash). It is an essential raw material in glass, chemicals, detergents and other important industrial products. Production U.S. soda ash production during 2004 increased to10.9 million Mt (12 million st). Five companies comprised the domestic soda ash industry. Four were in Wyoming operating five plants. One was in California with one plant.

Jan 1, 2005

By G. D. Bates

INTRODUCTION The Magmont mine is a joint venture of Cominco American Inc. (operator) and Dresser Minerals, Inc. The mine-mill operation is located approximately 160 km (100 miles) southwest of St. Louis, MO, in what is commonly referred to as the "Viburnum Trend.” The Magmont mine is designed for a production rate of 3810.2 t/d (4200 stpd) on a 5-day week, three shifts per day basis. Initial production began in 1968. The mine is open stope, room-and-pillar, and essentially horizontal along the trend of the ore body. Briefly, the main geological structure can be described as a brecciated graben bounded by reverse faults. The ore body in cross section is shaped like a bell curve with some lateral extension at the lower part. Presently outlined ore is 609.6 to 762 m (2000 to 2500 ft) in width and 2133.6 m (7000 ft) in length. The ore varies in thickness from 4.87 m (16 ft) on the fringes to an average of 27 m (90 ft) in the high ore areas bounded by the reverse faults. Lead is the primary metal with zinc and copper secondary. MINE DESIGN The basic design of open stope, room-and-pillar mines has been described by several writers and need not be repeated here. (Anon., 1970; Bullock, 1973; Casteel, 1972; Christiansen et a]., 1970; and Lane, 1964) This discussion covers the mining sequence as applied to the particular problems at the Magmont mine, the use of equipment, and deployment of the work force. In the upper portion of the Magmont ore body is a layer locally called the False Davis shale. This layer lies below the true Davis shale, is normally interbedded with dolomite, is of varying thickness, and if mineralized, is included in the top pass of the mining sequence. In thick ore areas this layer will be 2.13 to 2.43 m (7 to 8 ft) in thickness and will occur in the upper portion of the pillars. Due to its incompetency the presence of this False Davis layer is of primary concern in mine planning and operation. Mining areas are divided into three basic groups by ore thickness. First are areas of ore up to 6.09 m (20 ft) in thickness. These areas are below the False Davis shale and are mined single pass with drill jumbo. Second are those areas up 13.71 to 15.24 m (45 to 50 ft) in height. The first 4.87-111 (16-ft) Pass is taken at the top of the ore and the back and pillars secured. Benching the lower portion(s) in 4.57 to 4.87-m (15 to 16-ft) passes is then done with either a drill jumbo drilling horizontally or a crawler drill drilling vertically. Normally these areas are below the Table 1. Productivities per Manshift False Davis shale. These areas may also be mined by back slashing, or overhand benching, where the first 4.87-m (16-ft) pass is taken at the base of the ore and successive 4.87- m (16-ft) passes are taken upward. A minimum amount of back slashing is done at Magmont since it requires repetition of roof control on each pass and roof control is the single largest stoping cost at Magmont. Ore left to provide a working platform oxidizes and is coated by oil spills thus reducing metallurgical recoveries. The third mining area is over 15.24 m (50 ft) in height UP to a maximum of 40.23 m (132 ft) and will encompass the False Davis shale. These areas are mined by first driving +15% inclines to the top of the ore body. The top pass is mined and the back is bolted and roof mats installed as a matter of standard practice to minimize roof problems as mining progresses downward. Once the back and pillars on the top pass are secured, benching begins on successive passes with either the drill jumbo or crawler drill. Pillars on all successive passes below the top pass are secured as necessary. While benching progresses below the top pass, the pass at the base of the ore body is mined leaving a sill of 4.57 to 7.62 m (15 to 25 ft) in thickness to be removed with the crawler drill in a retreating manner. Rooms are mined on a 1.57 rad (90") grid pattern to insure alignment of pillars where multiple passes are taken. Pillars are designed on a 17.98-m (59-ft) spacing with rooms up to 10.66 m (35 ft) in width. Heading widths are wide enough for the mobile equipment to turn without additional allowance for curves. The result is a flexible layout which provides a maximum number of headings available for high extraction rates and grade control. PRODUCTION Incentive Bonus Incentive bonuses play an important part in the mine production at Magmont. Production crews are trained to perform only one of the mining functions of drilling, blasting, mucking. or roof bolting. This specialization, or functionalization, is augmented by development to open all possible stoping areas as early as possible in the life of the mine. This insures that each crew will have enough headings to perform its specialty. The incentive bonuses increase exponentially as output increases. The lucrative incentive bonus coupled with the specialization of the production crews and proper mine development have combined to give the high productivities shown in Table 1. Development crews perform all mining functions in their area. The incentive bonus is paid on a per foot basis, Crews on different shifts working the same heading share equally in the bonus proportional to their contract hours worked.

Jan 1, 1982

By C. Stoneback

The attapulgite industry saw a year of solid growth after a weaker 2003. Demand was up between 5 percent and 6 percent driven by almost all of the key markets. Construction continued to show record new housing demand, assisted by continued low interest rates. That drove strong growth in construction related markets like coatings, tape joint compounds and other construction materials applications. The agricultural markets rebounded modestly to increase sales for suspension fertilizers, animal feeds and pesticide carriers. Oil drilling also showed strong growth due to high oil and gas prices. Sales to molecular sieve applications grew due to petrochemical and construction demand. The export markets were assisted by further depreciation of the dollar. The only weak area was in nonagricultural granular sorbents, where other sorbent materials continued to dominate.

Jan 1, 2005

By E. Steiakakis, A. Athousaki

Nowadays, stakeholders have a strong say to the enforcement of best practices by mining and quarrying companies. In most cases there is a direct relationship between sustainable development principles and best practices. Mining companies try to apply best practices in order to sustain their operation without lost time and effort to litigation, and other obstacles. However, when and where there is a lack of state or regional mineral policy, or when the mineral policy is fragmented and touching on conflicting laws, mining operations may be subject to additional administrative hassles, and, thus, operators feel threatened and tend to apply best practices loosely. This paper argues that the only way that mining and minerals operations can be a source of development is to ensure that they are working within the framework of sustainable development. Furthermore, in order to follow the paradigm of sustainable development they would need to be guided by a regional, national or even transnational (i.e. European) minerals policy.

Jan 1, 2011

Rest potential, cyclic voltammetry and chronoamperometry measurements were made to study the effects of cathodic polarization of chalcopyrite simulating the mineral contacted with grinding media under a nitrogen atmosphere. The reaction products on the chalcopyrite surface were identified by XPS and the mechanism of the cathodic reaction was proposed. Micro-flotation tests were performed to investigate the effects of surface changes on the floatability of chalcopyrite.

Jan 1, 1991

By Josef Arnold, Norbert Fuegenschuh

The “Eggequerung” is an important part of the German Railway’s (Deutsche BahnAG) modernized Dortmund—Kassel line. The heart of this 13-km-long (8 miles)construction lot is the double-track Egge Tunnel with a total length of 2,880 m(9,450 ft.). The tunnel was driven using the New Austrian Tunnelling Method (NATM).The construction contract also called for a reinforced concrete secondary lining, guaranteed for a full water pressure of 30 m (100 ft.) water column. Preliminary geological study already showed that very problematic geological-hydrological conditions would have to be expected. This talk describes the chosen NATM driving concept that was adapted to the prevailing geological and hydrological conditions, the special driving method applied in geologically difficult zones as well as the water control concept used during driving. The flexibility and the limits of the NATM under exceptional hydrological conditions are illustrated. Also described are reinforced concrete lining works for the watertight secondary vault (reinforced concrete secondary lining without water-proofing membrane).

Jan 1, 2003

By Robert L. Sundeen, Richard V. Wenberg

Overshot loaders are loading machines which fill a front-mounted bucket by crowding and bucket lifting, passing the loaded bucket over the machine and throw¬ing the load into a haulage unit to the rear. The load is retained in the bucket as the load mass is accelerated in its path over the machine. At the point of discharge, the bucket is stopped suddenly and the load leaves the bucket, following the throw trajectory past the rear of the loader. Fig. 1 shows a typical overshot loader of this type. Overshot loaders were developed for loading in nar¬row drift headings and drawpoints, where it is impossible to place or pass a haulage unit alongside the loader. Haulage access is to the rear of all overshot loaders. The first overshot loader was developed in the early 1930s. The early machines were rail-mounted, air¬powered, and had small loading capacities. To this day, the same basic design configuration exists, and all suc¬cessful overshot loaders still use compressed air. Bucket sizes range from 0.14 to 0.59 m3 (5 to 21 cu ft). The most commonly used machines are rail-mounted, al¬though crawler versions are popular for special applica¬tions, particularly shaft sinking. Rubber-tired machines have found some application where a greater travel distance is required between the loading and discharge points. CONDITIONS INFLUENCING APPLICATION Roadway Type Rail-mounted loaders are used where soft bottom requires rail support or where the long haul is ac¬complished with rail. This situation usually occurs in civil tunnels or in mine drifts that will continue to utilize rail-bound main haulage after development work is completed. Crawler and rubber-tire mounted loaders are used where the roadway surface is rough and lateral travel beyond the range of rail-bound machines is required. Work Area Dimensions The largest rail-bound loaders can clean roadways as wide as 4 m (13 ft) from a single track. Wider headings require multiple trackage. Headroom require¬ments are dependent upon the path described by the bucket as it passes over the machine. The largest over¬shot loader requires approximately 3.4 m (11 ft) of headroom. It follows that the largest heading that can be driven by overshot loaders from a single set of rails is approximately 4 m (13 ft) wide and a minimum of 3.5 m (11.5 ft) high above the rail. The smallest rail-bound loaders can work efficiently in headings as small as 1.8 m (6 ft) wide by 1.8 m (6 ft) high above the rail.

Jan 1, 1982

Commercialisation of outcomes from research projects is a process often poorly understood and managed, but has the potential to achieve significant benefits for the industry and community as a whole. JKTech Pty Ltd was established in 1986 to transfer viable research outcomes from the Julius Kruttschnitt Mineral Research Centre (JKMRC) at The University of Queensland, Australia. This paper describes successful and unsuccessful examples of commercialisation by JKTech over the years, and draws some conclusions as to the factors that contribute to success and failure in technology transfer.

Jan 1, 2012

By R. J. Cornelius

Gold with minor associated copper mineralization in the area of what is now the Bougainville porphyry copper deposit has been known since the 1920s and was probably known in German colonial times, pre- 19 14, although no records persist other than a reference by Stanley (1922) to copper specimens from Kieta that he saw in Rabaul. Stanley did not at the time believe that they came from Kieta. Gold was first discovered at Kupei by Jack Comb in 1929 and the Kieta Goldfield was proclaimed in May 1930. In December 1932, the Tapu Reward Claim at Moroni - the site of the Bougainville Copper concentrator, was pegged by C.W.M. Evans who prospected up river from the West Coast. The Pumkuna (Panguna) Reward Claim on the site of the subsequent porphyry copper deposit was granted in February 1934 to G.A. Myers. n May 193 1, the Kupei Reward Claim was transferred to Bou- gainville Gold Options NL and later reverted to Jack Comb and then the Bougainville Syndicate, as did the Pumkuna and Moroni claims. Most of the interested parties had come from the Edie Creek rush on the New Guinea mainland. In 1935, N.H. Fisher, the geologist in Rabaul for the New Guinea administration who later became director of the Australian Bureau of Mineral Resources in Canberra, reported on the three gold areas. Norm Fisher described the gold and copper mineralization and its habit in great detail and this report had a major influence on the events leading to the discovery in the 1960s. Gold production up to the Japanese invasion probably did not exceed $50,000 in value. Half a ton of copper-gold ore from Kupei was sent to O.T. Lempriere's in Sydney for assay in the early 1930s.

Jan 1, 1991

By F. M. Doyle

Ion flotation shows great promise for recovering and removing metal ions from dilute process streams, either for environmental compliance or to recover values. This technique uses an ionic collector to concentrate non-surface active colligend ions of the opposite charge from a bulk solution at the solution?vapor interface. With a sufficiently large solution?vapor interfacial area (provided, for example, by sparging gas through the solution), the colligend can be concentrated and removed along with the collector in a foam phase. A key limitation on using the technique in the minerals industry, where many process streams contain a variety of ions and have relatively high ionic strengths, is the need to control which ions are interacting with the collector. Here the effect of three different chelating agents, namely dodecyldiethylenetriamine (Ddien), ethylene diamine tetraacetic acid (EDTA) and triethylenetetraamine (Trien), on the selectivity of copper, nickel and cobalt, or copper and alkaline earth metal ions, is reported. The results are discussed in terms of their implications for adoption in the minerals industry.

Jan 1, 2009

By Robert R. Munro

Introduction Traditional aggregate sources - riverbeds and alluvial fans - located close to developing urban centers are being foreclosed to mining. As sand and gravel reserves are depleted, nearby production plants cannot secure additional, adjacent reserves and are being forced to close down. The sand and gravel industry, in many respects, is its own worst enemy. It promotes development, street paving, home building, and industrial and commercial centers. Economics make us favor developments close to our operations. Thus, we encourage development by our neighbors, who soon become our detractors. Current Aggregate Mining Problems Urban development is not compatible with sand and gravel mining. Neighbors dislike the view of pits and quarries, and they complain about dust, noise, and trucking. In general, the neighbors are not happy being close to an aggregate source. This is reflected in land use or zoning laws. In most localities, mining requires a special-use permit. Public hearings are required before a legislative body. If a large group of opponents show up, legislators will often deny the land use. Urban areas are seeing traditional close-in sand and gravel sites becoming no longer available for industry. A parallel situation is also developing in most urban areas. That is, the not-in-my-backyard attitude toward landfills. As urban areas mature; a significant amount of change takes place in the physical makeup of a city. Streets and parking lots deteriorate and need repaving. Curbs and gutters need to be relocated. This necessitates a place to dispose of excess, or old, paving and structural material. Since landfills have become at least as difficult to permit as sand and gravel sites, they are becoming remote from urban areas. A significant portion of the structural material that needs to be disposed of is concrete and asphalt. This material is heavier than other materials. Thus, the cost of moving a large volume of very heavy material to a landfill becomes very expensive. In California, dump truck transportation is regulated by the State Public Utilities Commission through minimum rate tariffs. A rule of thumb for estimating the cost of such transportation is once the material is loaded, the extra kilometer (mile) costs $0.09/t ($0.08 per st). Thus, to haul an 18-t (20-st) road an extra 32 km (20 miles) will cost about $32. Because of its remote location, the cost of hauling aggregates to the point of use in an urban area becomes excessive - about the same as hauling the material to a landfill. Here is a classic example for synergism. If we could save the transportation cost of heavy demolition material by disposing it relatively close to the central city (its source), and at the same time provide an aggregate source close to the central city (its point of use), two difficult economic situations can be solved. Thus, the develop¬ment of recycling concrete and asphalt. Mining Concrete and Asphalt There are two methods of mining concrete and asphalt. The first is to pick up the old pavement in pieces. Thin, cracked pavement can usually be lifted from the grade with a front-end loader. It will break up into manageable-sized pieces. With heavier pavement, it is sometimes necessary to intentionally break it up with a stomper or heavy ripper. The pieces are loaded into heavy dump trucks and shipped to the crushing site. Again, a front-end

Jan 7, 1984

By D. M. Muir

Thiosulfate offers a nontoxic alternative to cyanide for processing gold ores. The mechanism of leaching gold using ammoniacal thiosulfate solution is driven by the Cu(II)-Cu(I) redox couple and is complicated by competing ligands such as NH3 and S2O32; It is shown that an understanding of the copper speciation and sulfur speciation is required to optimize this system. This paper presents Eh-pH and speciation diagrams for varying concentrations of Cu(II), S2O32- and NH3 and discusses the conditions under which various copper and sulfur species are stable.

Jan 1, 2002

By T. H. Eyde

Estimated natural zeolite production worldwide during 2004 remained at about 3.6 Mt (4 million st), about the same as in 2003. China continues to be the largest producer of natural zeolites followed by Cuba, Germany, Japan and South Korea. This may be changing, however. Since 1988, zeolite production from Australia, Indonesia, Malaysia, New Zealand, Philippines and Thailand has increased rapidly. Most of the production is consumed in aqua culture. Global demand for seafood has exceeded the ability of the oceans to supply it without over fishing. Zeolite minerals remove ammonia compounds from the ponds in which fish and shrimp are grown. It is estimated that, in Thailand and Indonesia more than 55,000 farms produce260 kt (286,500 st) of shrimp. Therefore, as shrimp production increases, so does zeolite consumption.

Jan 1, 2005

By D. B. Spears

The sillimanite group includes the aluminosilicate minerals sillimanite, kyanite and and alusite, all of which have the same chemical composition (Al2SiO5). This discussion also includes the closely related mineral, mullite(about Al6Si3O15), which, although rare in nature, is produced artificially for industrial use. All of the minerals in this group have a low coefficient of thermal expansion and high corrosion resistance. This makes them desirable for refractory applications, especially in the steel and foundry industries. Other uses include electrical insulators, abrasives and household ceramic products. The minerals in the sillimanite group decompose with an irreversible expansion at temperatures between 1,300° C and 1,600° C (2,372° F and 2,912° F). Sillimanite and and alusite have relatively small expansion on decomposition (4 percent to 6 percent) and, therefore, can be used as aggregates in refractory products. Kyanite’s expansion on decomposition is large (18 percent). So it is sometimes used to balance shrinkage of other materials such as clays in refractory mixtures. For applications requiring high-temperature volume stability, mullite is more desirable. As an additive, mullite improves resistance to creep and corrosion, and imparts thermal and electrical insulating properties.

Jan 1, 2005

By Richard P. Graff

Author?s note: Diversity in practice exists in the application of Generally Accepted Accounting Principles (GAAP) for purchase price allocations with respect to the recognition of Value Beyond Proven and Probable Reserves or VBPP, as defined by the Emerging Issues Task Force (EITF) in EITF 04-3: ?Mining Assets: Impairment and Business Combinations?. This diversity appears to arise from differing interpretations of what constitutes sufficient information to value components of VBPP in business combinations. Concerned with this diversity in practice, respected members of the mining community formed a working group which prepared an issues paper that discussed this diversity and provided recommendations for recognition and valuation of VBPP in business combinations. The working group then submitted this paper to the EITF, requesting further guidance be issued on the concept of VBPP. In conjunction with the submission to the EITF, the working group also provided this paper to the United States Securities and Exchange Commission (SEC) for review and comment. The EITF discussed this issue at its May, 2008 agenda committee meeting. However, it declined to add this topic to the EITF agenda for further consideration. Absent additional guidance on VBPP from the EITF, the working group submitted a proposed definition of VBPP to the U.S. Securities and Exchange Commission for its consideration. The following article, which is consistent with the issues paper that was submitted to the EITF and the SEC, discusses the components of and valuation techniques for VBPP. The correspondence with the U.S. Securities and Exchange Commission, which includes the proposed definition of VBPP by the working group, is attached as Appendix 1 to this article.

Jan 1, 2008