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By D. W. Boydell

The response of reclaimed gold tailings to acid leaching was investigated in the laboratory, followed by a pilot-plant program in which the operations of CCD, CIX and SX were tested with plant feed material. These results formed the basis for the design of the extension to the existing uranium plant at Blyvooruitzicht Gold Mine, commissioned in July 1977. This circuit consists of slimes-dam reclamation by bucket-wheel excavator at a rate of 100,000 t solids per month, acid leaching in pachucas, a five-stage CCD washing section, two parallel C1X absorption columns and two elution columns, SX and an ADU precipitation section. Barren solution is recycled to the CCD section as wash and to the repulper at the slimes dam. The performance of the plant during the first year of operation is compared with the predictions on which the plant design was based. Rated capacity was achieved within three weeks of start-up at a nominal dissolved uranium recovery in the ion-exchange section of around 98%. Owing to recycle, the over-all recovery in the ion-exchange and solvent extraction sections is somewhat higher than this figure.

Jan 1, 1979

By H. E. T. Haultain

I HAVE considerable hesitation in preparing and presenting this paper. These machines have been such an intimate part of my own experiences and predilections for such a long time that J would find it difficult to tell the story in an impersonal way. They have had several attractions for me. They were needed for the study of the fundamental features of modern milling, size analysis and accurate batch concentration of the very fine particles. I had been a millman once, a real operating millman, and, when I became academic". I always had the craving to link the academic laboratory with the field, as Rittinger and Richards had done. My first milling experience was with a small concentrator at a tin mine in Bohemia, forty-seven years ago. There was no assay office and the testing of our tailings was by means of a "Vanning Shovel", introduced from Cornwall by Captain Josiah Thomas, the great Josiah of Dolcoath, some fifteen years previously. This was a most effective instrument and it has always been a puzzle to me that it has not been more universally used by millmen. Later, at Freiberg, on the other side of the Erz Gebirge from the tin mine, I was introduced to the "Sichertrog", made out of wood shaped something like a very shallow boat or an elongated saucer, a most effective piece of apparatus when. the difficult technique of handling it was once achieved. Later, in the Slocan in British Columbia, my partner, the late Maurice Bucke, used a short length of flat trough or launder suspended by four wires, with which he got very satisfactory results as a small batch concentrator. In the University laboratory we had frequent need for something of this kind, and many efforts were made to solve the problem. With W. E. Johnston, we were working on the problem of gold-bearing telluride ores, which called insistently for a separation of the very fine telluride particles which existed only in minute quantities in the Kirkland Lake ores. Under this spur there finally developed the Superpanner, which is a mechanized combination of the Vanning Shovel, the Sichertrog, and the Maurice Bucke suspended launder.

Jan 1, 1937

By Karl Hoover, Cassandra Spence, Brent Bachewich, Jaakko Levanaho

"Since year 2000 the gold recovery into copper concentrate at Hudson Bay Mining and Smelting has reduced considerably during the summer months. This initiated a testwork program in the fall 2003 to find reasons and solutions for such change. During the testwork mineralogical factors, water quality effects and different reagents were evaluated. The reason for the lower recovery appeared to be the sensitivity of some collectors to pulp temperature. As a result of the work different collectors are being used in the mill in the summer than in the winter. A modification to the water system was also made to provide cooler water to the mill in the summer months.INTRODUCTIONHudson Bay Mining and Smelting (HBMS) is located in Northern Manitoba, just on the border of Manitoba and Saskatchewan. The complex consist of four different mines, Callinan, Trout Lake, Konuto Lake and 777 mine including copper smelter and zinc hydrometallurgical plants producing metallic copper and zinc. Gold is a very important byproduct providing about 30% of the mine revenue. In early 1990s when the company was facing declining ore reserves and was starting to gradually close down the operations, the 777’th exploration drill hole discovered a new orebody, which initiated a $0.5 billion expansion program. The main projects were a new 777 hoist with underground development and a new zinc cell house. About $30 million was used to increase the mill throughput to the present 2.27 million tonnes or 2.5 million short tons per year. The expansion programs were finished by the end of the year 2003.Historically the gold recovery at HBMS has varied between 60 and 70%. The recovery has been somewhat lower during the summer months. Gold recovery improvement projects were conducted throughout the 1990s, but were not focused on the seasonal gold recovery variance. However, since 2000, when the water system modifications to meet the increased water demand were completed, the gold recovery during the summer has been much lower than in the past. In August 2003 gold recovery fell below 30%, which initiated a metallurgical research program to discover the reasons behind the low gold recovery in the summer."

Jan 1, 2005

By W. J. Bennett

"I AM very happy to have this opportunity of speaking to the Montreal Branch of the Canadian Institute of Mining and Metallurgy.I have selected as the subject of my remarks transportation in that area which is at present our only source of uranium -Northwest Canada. Considering the widespread interest in atomic energy, the end-product of uranium, it may be wondered why I have not chosen to speak of a more spectacular aspect of the development. I hope it will be evident from what I have to say that transportation plays a very dominant role in our effort to maintain a continuing supply from Eldorado's producing property at Port Radium on Great Bear lake and from its coming producer at Beaver lodge Lake in Northwest Saskatchewan. Moreover, transportation has such a bearing on the entire mineral development of the Northwest that it cannot help but be of concern to an organization of this kind. Finally, the transportation problem, of which I shall try to tell you something, is quite unique and the story of its solution or partial solution is, I believe, an interesting one.Transportation experience on this continent indicates that the cheapest method of moving freight is still by water -with •rail, highway, and air transportation following, and in that order •of economic significance. Excluding rail transportation, since the area has as yet no railway lines, this order also applies in the Northwest. I shall direct my remarks to the two kinds of transportation which serve our uranium producers -water and air."

Jan 1, 1952

By J. Dong

"A “green” collector project has been initiated at Vale Base Metals Technology Development to replace xanthate. Bench and miniplant testwork showed comparable metallurgical results between xanthate and DTC (sodium dibutyl dithiocarbamate), a “greener” collector. During the first DTC plant trial, a strong interaction between the process water and DTC negatively impacted the metallurgy. The subsequent investigation showed that the quality of process water including suspended solids and dissolved metal ions had a significant impact on the performance with DTC, while less so with PAX. This paper explains these differences using UV spectrophotometry and batch flotation tests. INTRODUCTIONVale Base Metals is dedicated to sustainable mining and mineral processing. One of the key activities is to find a “greener” collector to replace xanthate (PAX: potassium amyl xanthate), which decomposes during storage and flotation causing CS2 emissions in the work place. As the most promising candidate, DTC (sodium dibutyl dithiocarbamate) was evaluated in the lab and miniplant (Dong & Xu, 2011). Consequently, a plant trial was conducted in the winter of 2010. However, the results were not as good as expected. The subsequent investigation showed that the quality of process water played a significant role in the metallurgical performance with DTC but less so with xanthate.From test work in 1996 and 1997, a series of batch tests were performed at Clarabelle Mill to investigate the winter/summer metallurgical shift with xanthate. As shown in Figure 1, the winter metallurgy was considerably worse than the summer metallurgy (Xu & Wilson, 2000). At 80% pentlandite recovery, the concentrate (Cu+Ni) grade was 21% in the winter and 26% in the summer. At 23% (Cu+Ni) concentrate grade, pentlandite recovery was 85% in the summer and 70% in the winter. In the summer, the process water is much cleaner, with very low concentrations of dissolved metals ions and suspended solids; while in the winter, the water is yellow and cloudy, with much higher suspended solids. Based on these results, it was concluded that the process water in winter has a detrimental impact on metallurgy."

Jan 1, 2012

By M. Somppi, D. Weirmeir, Z. Yamak

"Milling operations commonly employ activated carbon to capture complexed gold from lixiviants in leaching processes. As the carbon moves through pipes, pumps, vessels, kilns and other processes in the gold leaching circuit, this consumable may experience losses by various mechanisms like attrition, breakage, and rupturing. Whenever possible, capturing the fine gold-bearing carbon portion of this stream could provide value to milling operations at low capital cost and manageable financial risk. Identifying, testing, and validating the successful payback of a low-tech flocculant system is described. However, the work more closely explores a Monte Carlo risk-based methodology for understanding the potential payback of this project at various confidence levels – an approach that many improvement projects can follow where some level of uncertainty exists.INTRODUCTION Gold milling operations commonly employ activated carbon to adsorb gold from solutions. Normal handling causes the carbon particles from this material to abrade, break, rupture to a size that becomes too small for further use in the process. Operations often concentrate on capturing the fine particles because gold is associated with the carbon and this metal content can be a valuable revenue stream for toll processing. However, the small particle sizes become difficult to separate from the process and can ultimately leave the facility in the waste stream. Hence, operations often place a great deal of care in capturing as much fine carbon as possible by a variety of methods including using screens, settling tanks, and chemical methods. Retrofitting a circuit to capture more carbon fines is common but can expose the operation to financial risk. Approaching this potential improvement by leveraging a Monte Carlo methodology can be effective in understanding the risk and the associated payback of a project at various confidence levels. This method provides a strong framework for capital go-no-go decisions and the structure to validate the potential project success before implementation."

Jan 1, 2019

By Rick Hyndman

? Context: Ø Global action on climate change ? The situation of trade-exposed industry sectors ? The federal government?s draft plan for industry ? CAPP?s position ? Canadian emissions & Canada?s Kyoto target Simple Economic Theory of Dealing with Externalities ? Put cost on emissions Ø Carbon tax Ø Emission trading with auctioned permits ? GHG costs get reflected in the prices of energy alternatives, goods & services Ø Decisions driven by changes in relative prices ? Switching to lower emission fuels ? More energy efficient ways of producing ? More energy efficient appliances, cars, housing ? Reduced demand for energy intensive goods & services ? Anticipation of higher CO2 price drives low CO2 technology Development

Nov 1, 2002

By John L. Bonus

"WITHIN THE BROAD PARAMETERS implied by the title of my speech, I propose to deal more particularly this evening with a subject the many aspects of which have constituted the essential elements of one of the main thrusts undertaken by the MAC in the past two years, i.e., to create among Canadians a much greater awareness of the importance of mining and to demonstrate to them what are the many and varied benefits they derive from mining activities across their country. In other words, MINING - WHAT IT MEANS TO CANADA.I also intend to discuss some aspects of government-industry relationships.I am very conscious of the fact that I am speaking to an audience made u in large part of experts in several fields of mining and exploration activities. They will be familiar with many of the points I intend to discuss. However, without in any way suggesting that familiarity breeds contempt, might I emphasize that even in this particular forum there is justification for reiterating some of our basic philosophies and suggesting ways whereby they might be better understood and promoted.Let us first summarize the present dimensions of the Canadian mining industry."

Jan 1, 1971

By John E. Udd

I N Part I of this paper, Professor Morrison suggested that our technique of causing cracks to develop around openings in a sheet of photoe1ashc plastic is, in effect, a laboratory-scale rockburst. Our investigations have indicated that the location and direction of these cracks are predictable, and that their growth can be controlled. On several occasions, we have been able to cause these cracks to propagate sufficiently slowly to be followed, with the naked eye. In practice, the rate of growth, gradual or sudden, would depend upon rock properties. This part of the paper presents an analysis of the stresses surrounding the openings before and after failure and also this author's views on the causes and after-effects of cracking. An attempt is made to correlate the stress patterns with those deter-mined from pure mathematics. Considering that the openings, except for the central enlargement, are long apertures with somewhat rounded corners, they might be compared with elongated ellipses having axes ratios of about 20:1 or with

Jan 1, 1963

By O. Schnake, M. Isakson, C. A. Landolt

The paper presents the conceptual basis for the development of an Activity Based Costing system (ABC) for the analysis and estimation of process costs in mining and metallurgy. In particular, it discusses three major thrusts towards attaining increased efficiency in extraction and processing systems: (a) understanding the link between process and expenses, (b) identifying the chemical and physical factors that govern process costs and ( c) using process and cost models of the production systems. The authors have developed computer techniques to analyze data from conventional accounting and apply them to the development of process based ABC systems. The cost causing activities are linked to management units patterned after the organizational structure of the production system. All costs are associated with specific process functions such as charge preparation, smelting, refining, etc. The level of detail is determined by the quality of data available in conventional accounting systems. The system permits data analysis of historical cases and the projection of costs for new production schemes. Results can be presented in various levels of aggregation, following organizational and/or functional structures. The outputs of the system are tabular and graphical, typically following Pareto analysis concepts.

Jan 1, 2007

By Lyle F. Smith

With the demand for larger diameter raises under all ground conditions and the increasing price of drill rods and operating costs, it was evident that there was a need for a raise borer with a variable-speed drive and fast-response torque limiting control. The raise boring machine described in this paper was developed after several years of market research and discussions with mine operators and construction contractors. This paper discusses the Ingersoll-Rand raise borers with the solid-state controlled DC motor drives. These machines have gained wide acceptance in the five-year period since being placed in operation and are designed to accommodate the range of raise diameters and lengths most required today.

Jan 1, 1978

By Robert Yobou, Jacques Naho, Benjamin A. Allou, Jacques Carignan, Huan-Zhang Lu, Jayanta Guha, Koffi Pothin

"Résumé - Les seules productions de columbo-tantalite en Côte d'Ivoire sont effectuées dans les éluvions, colluvions et alluvions d'Issia, au Centre-Ouest de la Côte d'Ivoire. Même si un lien direct avec les roches granitiques est suspecté, aucune attention particulière n'a été accordée à l'étude de la minéralisation primaire en relation avec l'évolution de ces granites et des pegmatites associées. Ces granites, qui sont en intrusion dans les roches sédimentaires du Protérozoïque inférieur, comprennent: le granite orienté à deux micas (type Lobo), le granite orienté à muscovite dominante (type Bitapia) et le granite porphyroïde non orienté à muscovite dominante (type Issia). Les résultats de cette étude indiquent que les pegmatites à Nb-Ta-Be-Li sont liées au granite de type Issia. Les observations de terrain et les analyses sur roche totale montrent que: (1) les trois principaux granites de la région sont de type-S et peralumineux dans leur composition, (2) ils ont été formés pendant la période tardi- à post-Éburnéenne, (3) le granite de type Issia fut le dernier à se former.Les pegmatites liées au granite de type Issia ont été classées en quatre types : A- pegmatites stériles; B- pegmatites à Be; C- pegmatites zonées à Nb-Ta-Be; et D- pegmatites zonées à Be-Nb-Ta-Li. Les pegmatites zonées comprennent les zones suivantes: I- zone à aplite; II- zone graphique; III- zone à albite, microcline, béryl et columbo-tantalite; IV- zone à microcline massive; V- zone à quartztourmaline. Ces pegmatites présentent une zone d'altération métasomatique externe.La minéralisation de Ta, Nb, et Be est liée à la zone III des pegmatites de types C et D, la minéralisation de Li est associée aux greisens qui peuvent être observés n'importe où dans les pegmatites de type D. Les données de terrain et de laboratoire indiquent que le granite de type Issia est la roche parentale des pegmatites à éléments rares de la région. Les pegmatites minéralisées sont distribuées seulement autour du granite de type Issia et les patrons des terres rares des granites et ceux des pegmatites à éléments rares sont très similaires. Les analyses de la composition totale montrent un lien génétique entre le granite de type Issia et les pegmatites à éléments rares. Il est suggéré que les pegmatites ont été formées durant le transport et la cristallisation fractionnée du magma. Les éléments rares sont restés dans le liquide résiduel jusqu'à ce que les conditions favorables à leur précipitation soient atteintes.L'établissement de ce lien génétique ouvre des voies pour des nouvelles stratégies d'exploration."

Jan 1, 2005

By F. McGravie, S. T. Solinski, W. W. Robertson

During this, the Centennial year of the discovery of the Hall-Heroult process, it seems appropriate to review some of the developments which have taken place in Canada and to explain why it has become an important world centre for the production of primary aluminum. For many years after it was recognized that the element aluminum existed, scientists were frustrated in their efforts to isolate it. In the early 1800s H. C. Oersted and Frederick Woehler prepared small quantities sufficient to measure some of the physical properties. A quasi-commercial process involving reduction with metallic sodium was developed by the French scientist H. St. Claire Deville in 1855 but the cost was very high ($30. 00 per kg). It was not until 1886 that Charles Martin Hall in the United States and P.L.T. Heroult in France, more or less simultaneously but completely independently, discovered the process which is essentially that in use today. Some of the early pioneers in the industry quickly recognized the potential of the hydro-electric resources in Canada as economic energy suppliers for aluminum production. The first commercial production in Canada was in Shawinigan, Quebec in 1901, only 15 years after the process was discovered. Subsequently operating plants were established at nine different locations in Canada (Quebec and British Columbia) (Table 1). Operations continue today in all locations except one (La Tuque). The table shows present plant capacity which for the older plants was reached in an evolutionary manner including replacement of obsolete capacity or upgrading and modernization of existing designs.

Jan 1, 1999

By R. H. O. Wagner

"This paper describes the bench testing, pilot plant studies of alternative flowsheets, to determine the feasibility of gold recovery, by carbon in pulp extraction, in the Schumacher Mill gold flotation tailings. The economics were calculated based on pilot plant recoveries and actual industry operating costs.The economics of the carbon in pulp treatment of the gold flotation tailings were not justifiable. The economics of desliming the gold flotation tailings followed by carbon in pulp treatment were marginal, but favourable. INTRODUCTIONPamour Porcupine Mines, Limited is a gold, silver and copper producer located in Timmins, Ontario. In 1983 the head grade of Pamour's gold ores averaged nine one hundredths of a troy ounce of gold per short ton.Pamour operates two area mills to concentrate the gold ores. Free milling gold ores are processed at the Pamour One Mine mill, whereas the refractory carbonaceous gold ores, and complex gold, silver, and copper sulphide ores, are processed through the Schumacher Mine mill.The complex Schumacher mill feed ores do not all react favourably to flotation methods, consequently this study was commissioned to investigate the feasibility of the carbon in pulp cyanidation of the Schumacher mill gold flotation tailings. These tailings contain ten to fifteen percent of the gold in the mill feed. During the study period, the average grade of the Schumacher mill flotation tailings was nine one thousandths of a troy ounce of gold per ton, or one quarter of a gram of gold per metric tonne."

Jan 1, 1984

By James D. Bittner

Separation Technologies, LLC (ST) has developed a processing system based on triboelectric charging and electrostatic separation that provides the mineral processing industry a means to beneficiate fine materials with an entirely dry technology. The environmentally friendly process can eliminate wet processing and required drying of the final material. The process requires little if any pre-treatment of the material other than grinding and operates at high capacity ? up to 40 tonnes per hour by a compact machine. Energy consumption is low, approximately 1 kWh/tonne of material processed. Since the only potential emission of the process is dust, permitting is typically relatively easy. In contrast to the other available electrostatic separation processes that are typically limited to particles greater than 75 µm in size, the ST belt separator is ideally suited for separation of very fine (<1 µm) to moderately coarse (300 µm) materials with very high throughputs. The triboelectric particle charging is effective for a wide range of materials and only requires particle ? particle contact. The small gap, high electric field, counter current flow, vigorous particle-particle agitation and self-cleaning action of the belt on the electrodes are the critical features of the ST separator. The high efficiency multi-stage separation through charging / recharging and internal recycle results in far superior separations and is effective on fine materials that cannot be separated at all by the conventional electrostatic techniques. Since 1995, this triboelectric process has been extensively used for the beneficiation of coal fly ash with eighteen separators in place and over 130 machine-years of operation at locations in North America and Europe. ST has also installed separators for the beneficiation of industrial minerals in North America and Europe. The technology has been successfully applied to the beneficiation of a variety of minerals including calcium carbonates, talc, barite, and potash.

Aug 1, 2013

By George B. Saunders

It is the purpose of this paper to point out conditions as they exist in the merchandizing of coal, to compare these conditions with methods in use by competitive producers of coal substitutes, and to present briefly some suggestions which may help the individual operator to market more coal in the immediate future, while we are waiting for the scientist and research worker, who are now busy on coal betterment , to produce in a practical way the results which they now write about in such glowing terms. While it may be unnecessary to call the attention of coal operators to the present deplorable condition of the industry, it might be well to impress upon our members in other branches of mining, as well as upon the public at large, the seriousness of the situation. Emerging from the war and the period of reconstruction that followed, the coal industry found itself with too many mines and too many men for normal conditions. To make matters worse, the interruptions in deliveries caused by strikes, the unfavourable publicity caused by socialistic propaganda, and the repeated governmental investigations, made the market a fertile field for coal substitutes which were not so handicapped. These substitutes were well advertised, and were marketed in an up-to-date manner, furnishing an example from which the coal operator could well profit. Now, whether or not there is agreement as to the cause or causes of this condition, there can be no doubt that we are today face to face with the fact that the sale of coal has not kept pace with the sale and use of other commodities. Had it done so, we would ere this have been able to take care of the surplus labour and work our mines at least approximately full time.

Jan 1, 1929

By A. Supomo, H. Resendiz, C. Burbidge

"Freeport-McMoRan Inc. (FMI) commissioned the expansion of the Morenci Metcalf concentrator in 2014. The concentrator included many design and equipment innovations, including the first-of-its-kind Metso Hydraulic Roll Crusher (HRC), variable speed ball mills and variable speed crushers. In addition to the innovative design, FMI commissioned the Metso APC team to design a realistic process simulator and the plant APC. The process simulator was utilized to train operators before commissioning, which led to a smoother plant start up. The plant APC utilized the concept of dynamic constraint control, which controls the feed to the primary ball mills by “pulling” the tons from crushed rock storage bins, which then automatically are filled by the upstream HRC and secondary crushing circuits. The primary ball-mill control also adjusts the water addition to the cyclone clusters to avoid overload and achieve sufficient grind size. The constraints include in-circuit constraints for feeder capacity, screen-deck capacity, ball mill power, cyclone mass flow, pump capacity and pump motor capacity. The APC system was implemented shortly after the start of commissioning and immediately demonstrated increased throughput and an ability to highlight and quantify process constraints and bottlenecks. The following paper outlines the control strategy, discusses system implementation, results and challenges.INTRODUCTION The FMI Metcalf Concentrator is located in Morenci Arizona on the site of the old original Concentrator. The new Metcalf concentrator started operation in May of 2014. This plant was designed for an average of 63,500 tpd (70,000 stpd), increasing the total Morenci concentrator complex production to a nominal 113,400 tpd (125,000 stpd). The process flow diagram is shown below in Figure 1.The process consists of primary crushing feeding a coarse ore stockpile followed by secondary crushing operating in closed circuit with vibrating screen decks. The screen undersize feeds the first of its kind Metso hydraulic roll crusher (HRC) operating in a closed circuit with vibrating screens. The primary crusher is a Metso 60x110 gyratory crusher. Secondary crushers are Metso MP1250 Crushers with variable speed drives. Secondary crusher discharge is recycled to the dry screen feed bin and screened with oversize returning to secondary crushing and undersize feeding the Metso HRC3000. The product from the 3.0 meter X 2.0 meter roll crusher is wet screened with the undersize feeding the grinding circuit, which is comprised of two each 24-foot diameter by 40- foot-long variable speed ball mills running in parallel with each in closed circuit with a cyclone bank of 12 cyclones. The wet screen oversize is recycled to the HRC feed bin."

Jan 1, 2019

By M. Melashvili

"The SART Process was introduced to the gold mining industry in the late 1990s and several commercial plants were built over the following 10 to 15 years. Most of these plants have operated well and enjoyed plant performance in line with expectations based on the underlying chemistry of the process. However, two of the plants have consistently suffered from high reagent consumption and poor product quality, which has motivated a re-examination of the process fundamentals.The primary product in the SART Process is synthetic chalcocite, Cu2S, and the stoichiometric requirement for sulphide addition is therefore 0.5 moles per mole of copper in solution. It is shown here that when sulphide is added in excess of this amount (generally with the express purpose of lowering residual copper in solution) it not only fails in its intended purpose, but can have a negative impact on the settling and filtration characteristics of the copper sulphide product, as well as the final product quality. Moreover, these problems are exacerbated the higher the selected operating pH in the pH 3 to 5 range, and the longer the residence time of slurry in this pH range.Freshly precipitated copper sulphide compounds are known to be very fine and slimy, with poor settling and filtration characteristics. It is therefore important to engineer the SART Process in such a way as to encourage growth in the average particle size of the precipitate crystals. This was the rationale for recycling a portion of the thickener underflow to the primary reactor when the SART Process was developed. However, the theory of crystallization predicts that compounds of extremely low solubility, such as chalcocite (Cu2S: KSP = 10-48), are unlikely to experience growth in crystal particle size through heterogeneous nucleation and are more likely to grow through aggregation. On this basis, the SART practice of recycling a portion of thickener underflow to the primary reactor in the commercial plants is unlikely to lead to crystal growth via nucleation, and could in fact promote breakage of the aggregates that formed in the thickener. Recycling thickener underflow could therefore have the opposite of the desired outcome. The result of testwork that is reported here lends credence to this theory and questions the wisdom of recycling in the SART process."

Jan 1, 2016

By Michael Samis

Conventional project valuation techniques, such as discounted cash flow (DCF) method, are more frequently being criticised for the manner in which they consider the interacting effects of uncertainty and project structure (including management flexibility) on project value. Modern asset pricing (MAP; often called ?real options valuation? when applied to the analysis of flexibility) is a more general valuation framework that corrects many of the shortcomings of common valuation methods. Previous mining applications of MAP have tended to treat the ore deposit as a homogenous entity. While useful for demonstration purposes, this is inadequate for practical application in industry. This paper presents a MAP valuation example that allows for the heterogeneous nature of an ore deposit. It shows that deposit structure may increase the complexity of the mine planner?s decision so that results of a standard DCF analysis, or a simple MAP analysis that ignores the details of deposit structure, are misleading. In the example, a management is considering the development of an adjacent low-grade zone while mining operations in a high-grade zone are ongoing. If the low-grade zone is developed before high-grade reserves are exhausted, the proposed development will include both low-grade zone development and a capacity expansion to handle additional low-grade reserve production. If development of these reserves is delayed until the high-grade reserves are depleted, then the low-grade reserves can be developed without a capacity expansion. A typical DCF analysis would reduce the management?s decision problem to three alternatives: 1) continue mining only in the highgrade reserves, 2) immediately develop the low-grade reserves and expand capacity, and 3) delay low-grade zone development until the high-grade reserves are exhausted. The model presented here allows the management to reconsider the development and capacity expansion decision on a discrete half-year basis. It delineates price regions, for given levels of high-grade zone reserves, in which it is optimal to develop the low-grade zone, defer low-grade zone development and abandon the mine irrevocably. The model presented here extends the ability of mine planners to describe actual project structure while using the MAP valuation framework that is already noted for its capacity to combine project uncertainty and risk insights with a dynamic project description.

May 1, 2001

By Mel Owen, Bob Tipman

"A number of studies have identified the presence of heavy minerals in the Athabasca oil sands. A 1996 Mineral Development Agreement study into the recovery of Co-Products identified low operating costs, a simple flowsheet and access to market as key drivers in advancing interest in a viable project.Commercial bitumen extraction processes recover 50% of the titanium heavy minerals and 85% of the zircon into froth containing 1 % of the feed solids. Froth treatment tailings grade is 11.5% Ti02 and 3.6% Zr02.Processing this high grade feed in a combination of flotation, roasting, screening, gravity concentration and magnetic separation, results in concentrates of rutile, leucoxene, ilmenite, zircon and rare earths of marketable quality.A combination of high grade feed and a simple process lead to operating costs among the lowest in the industry. Low cost heavy minerals and low energy costs indicate an intriguing potential for low cost pigment production in Alberta. The production of heavy minerals from oil sands remains one of the largest untapped resources in the Province of Alberta1.0 IntroductionThis paper describes the results of an investigation into the recovery of heavy minerals from tailings produced by the major oil sands plants. The study was carried out under a Canada-Alberta Mineral Development Agreement (Alberta Chamber of Resources 1996). The MDA Co-Products Study examined the potential for the economic recovery of heavy minerals from oil sands tailings."

Jan 1, 1998