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DCF Valuations are very important to individuals and companies involved in the mining industry. Such valuations are critical to investment decisions in relation to new and existing projects. In particular they provide fundamental information to shareholders in the event of a capital raising or takeover and to financiers supporting mining companies and projects. Also, DCF Valuations are often used to support asset carrying values in the financial statements of mining companies. This paper presents a Chartered Accountant's (CA's) perspective on the main issues to be considered in preparing, analysing and relying upon DCF methods in mineral valuations and provides some practical examples relating to key issues. The paper makes the important point that DCF methods involve making assumptions about future events and circumstances that inherently contain uncertainty which results in a valuation prepared on a DCF basis providing a range of values that are not perfect or accurate. In order that DCF valuations provide meaningful information the underlying methodology used and assumptions made must be consistent, sound and well supported. Credibility of those involved in preparing mineral valuations is vital and this paper supports the adoption of sound practices by all concerned.

Jan 1, 1994

Mr GEPP said: "He proposed at the outset to draw attention to figures dealing with the population of the countries adjacent to Australia for the purpose of comparison with the population of the Commonwealth. He would deal more particularly with the areas of land surrounding the Pacific and Indian Oceans. Korea and Japan had a population of 18,000,000 ; China, 437,000,000 ; Persia, 9,000,000 ; Arabia, 5,000,000; South Africa, 129,000,000; Madagascar, 3,500,000 ; India, 251,000,000; Siam, Indo-China, and so forth, 16,225,000; Federated Malay States, 3,225,000; and, very significantly, Java, only four and three quarter days from Fremantle, over 50,000,000. From the map displayed an idea of the comparative areas of the countries mentioned and Australia could be gained. It was rather amazing that Australia, with its great potentialities, had only about 5,150,000 people. New Guinea had over 750,000 people; Hawaii, a mere speck, 250,000; New Zealand, 1,300,000; North America, 130,000,000; Central America, over 15,500,000; and South America, over 65,000,000. Colombo was only six days from Fremantle, and it was only nine days from Capetown to Albany, and eight days from Albany to Hobart. Proceeding, Mr. Gepp said "It was in 1911 and 1912 that I had the good fortune to spend nearly twelve months in Europe, and during the course of my work in England and Germany to have the oppprtunity of studying both the economical and political systems in some detail... I was in Berlin at the time of the visit of Lord Haldane, when an effort was made by the British Government to arrive at some under...

Jan 1, 1923

PRESIDENT PRYDE: I think that the overcutting machine undoubtedly presents a great many benefits, especially where the roof is frail. I have found a good substitute for the Arcwall, getting a lighter machine by equipping a machine with a turret truck, you get a much lighter weight, and while the cutter is not movable vertically, you cut not on top of the seam, but about the middle of it. MR. SC'HLOSS: I would like to ask Mr. Pryde the advantages of cut- ting with this turret-mounted Shortwall machine. PRESIDENT PRYDE: It is better for development work in narrow places. In development work you have a lot of narrow places. MR. LITTLEJOHN: Mr. Chairman, we were compelled at Winter- quarters, one time, to introduce them for reason of sand rolls'. We have in that mine a condition-we have sand rolls from twelve inches to two and a half feet, sometimes higher than that-usually twelve inches to two and a half feet, and we had to get some of the C. E. 7's on the turret there and used them for advance work not only in the entries, but in rooms; not only in that particular district, but in fact all the districts in the mine-we have abandoned the power trucks. You can cut without unloading, and that is one of the principal advantages, and when the sand rolls come in it enables you to cut over the top of the sand roll, but the particular objection, we were working a nine-foot wall, and some of the coal was twelve feet thick, so that the miners have raised a little objection to the drilling.

Jan 1, 1924

By Harry C. Wiess

PETROLEUM has come to be one of the most important and essential of the mineral re- sources of the nation. It is the most advantageous source of mineral fuels and of lubricants, and as such it has provided in large measure for the phenomenal development in our modern means of travel and in the facilities for transportation by land, sea, and air. Without it the remark- ably rapid industrial and social progress in our country during the past thirty years could not have occurred. In view of its important place and the fact that petroleum is irreplaceable and existent in limited quantities in nature, its conservation is essential.

Jan 1, 1939

By Georgene Renner, William R. Yernberg, Steve Kral

Advanced Terra Testing (ATT)is a full-service geotechnical testing laboratory. It specializes in rock and soil mechanics and geosynthetic materials testing. ATT provides services to the global mining industry. The company has performed more than 1,000 projects for more than 300 commercial and government clients. Services include coal pillar design testing, leach pad material and performance testing, tailings pile consolidation testing and closure and remediation services. Rock and soil mechanics tests include unconfined and triaxial strength, shear and tensile strength, permeability, index testing, consolidation, liquifaction potential, elastic moduli determinations, heap height versus percolation rate, long-term batch testing and dynamic loading tests.

Jan 1, 2003

By S Flanagan, M M. Mete, A R. Tiryaki, M Guresci

First Quantum Minerals (FQM) operates the Cayeli underground copper mine in Turkey. In response to a lost time incident (LTI) that occurred at the mine in 2022, the mine management decided to introduce a new safety approach on-site. The initiative began with a comprehensive safety culture analysis conducted by Arti Consulting, involving focus group studies. Employees actively participated in candid discussions, sharing their insights on safety issues and offering solutions. These conversations were meticulously audio recorded, resulting in over 150 000 words collected from more than 100 employees. These transcribed narratives then underwent rigorous semantic analysis, with the assistance of a sociologist, to identify and dissect patterns of unsafe behaviour. This analysis found areas for improvement, particularly in near-miss and incident reporting, quality of safety toolbox talks and effectiveness of pre-work risk assessments. Subsequently, mine management deliberated on these insights and devised corrective actions. An emphasis was placed on involving all employees in the corrective actions through communication training, empowering them to own the decisions and changes made. These impactful measures were seamlessly integrated into FQM’s Think! Safety Program, which embodies FQM’s sensible health and safety strategy. FQM partnered with Strika Entertainment (Strika) to develop innovative visual-first safety communication tools that use illustration, animation and graphic design to simplify complex messaging into easy-to-understand edutainment. As part of this approach to safety communications, Cayeli and Strika revamped the safety toolbox talks to encourage employees to voice their concerns and receive feedback when their suggestions were implemented. The response from employees has been positive, with over 200 unsafe behaviours and conditions reported within the initial two months of launching the Think! Safety Program. Remarkably, the Cayeli Mine has not experienced any LTIs for the past 500 days as of 9 December 2023. This paper encapsulates the dedicated efforts to transform Cayeli into a safer mining operation.

Apr 16, 2024

By K. G. Philo, R. C. W. Webber-Youngman

mining, where data-driven decision making optimizes resource extraction, enhances safety, and ensures sustainability. The adoption of digital technologies like artificial intelligence (AI) and the Internet of Things has amplified the importance of digital information. However, the integrity and security of this information are paramount, leading to the exploration of blockchain technology as a potential solution for secure digital value exchange in mining. This research examines blockchain's capabilities, drawing insights from its applications in sectors like banking, government, healthcare, and entertainment, and evaluates their relevance to mining's core value chain processes. The study identifies blockchain's distributed ledger technology, cryptographic security, and decentralization as unique advantages that can revolutionize mining by enhancing transaction speed, reducing costs, and improving supply chain transparency and compliance with sustainability standards. Blockchain's transparent and auditable records can enhance business transparency, fostering trust among stakeholders, including investors and regulatory bodies. The technology's consensus mechanisms and smart contracts further promote trust in collaborative ventures. This research provides a foundational understanding for decision-makers in the mining industry to evaluate blockchain's feasibility and potential return on investment, guiding strategic planning and resource allocation for blockchain applications. By leveraging blockchain, mining companies can optimize operations, improve sustainability practices, and establish a robust foundation for future growth, positioning blockchain as a transformative technology in the sector

Jul 10, 2024

By Wm .. O. Vanderburg

This paper describing the mining practices at the Block P mine of the St. Joseph Lead Co. at Hughesville , Mont . , is one of a series of similar papers being prepared by the Bureau of Mines on mining practices , methods , and costs in the various mines of the United States .

Mar 1, 1931

By E. P. Youngman

This paper is one of a series of digests of foreign mining legislation and court decisions that is being prepared in advance of a general report relative to the right of American citizens to explore for minerals and to own and operate mines" in various foreign countries. In the preparation of this interpretation of the laws of Norway, use has been made of William R. Orrmins' translations of various acts of the Norwegian Government, which were forwarded from the American consulate at Oslo^ and transmitted to the Bureau of Mines through the courtesy of the State Department. This digest is released subject to amplification and correction, if necessary, by the proper American foreignservice officers.

Nov 1, 1932

By M. H. B. Nasseri

Barre granite?s samples have been tested for fracture toughness under mode I along two different directions with respect to microstructural fabrics were investigated. 3D objects counter algorithm technique is applied on micro CT images to identify physical properties such as crack induced porosity, crack density, generated total surface area and contribution of individual mineral grains within the damaged zone.The result obtained justifies very well the fracture toughness anisotropy in Barre granite, and explains the difference in the structure of the damage zone evolving as a result of test crack interacting with pre-existing microstructural fabrics. The present study has potential application in the fields of rock mass stability, oil reservoir stimulation, rock fragmentation and damage in blasting and emplacement of dykes.

May 1, 2009

By Jochen Franke, Derek D. Lichti

"This paper gives a brief introduction and presents recent enhancements in the MillMapper technology developed for thickness gauging and condition monitoring of liners in grinding mills used for mineral comminution. It also introduces the recent expansion of MillMapper functionality aimed at mill operational optimization. MillMapper uses calibrated laser scanner data captured inside a mill to determine thickness at several million points on all liner surfaces at feed, shell, and discharge ends with millimeter accuracy. Data capture takes nominally 5 minutes, hence interruption to mill operation is negligible.The paper is structured as follows. First, a review of the technology and discussion of recentlyimplemented innovations such as liner change out forecasting, automatic ball charge volume and weight measurement, and automatic mill liner volume/weight measurement for mill operational control or load cell calibration are presented. Combined weight information provides control over load related issues such as load fill levels for relining, or start-up load after reline. Feature descriptions are followed by a listing of the numerous advantages over existing techniques and the benefits to operations. Results from the application of MillMapper are presented throughout.INTRODUCTIONThe need for thickness gauging of liners of grinding mills used for mineral comminution is well known but the task is rarely completed to a satisfactory standard. Liner failure resulting from excessive wear can have expensive consequences. Furthermore, mill performance as well as liner wear are known to be correlated to lifter bar geometry (Napier-Munn et al., 1999; Rajamanni et al., 2005). At present, the following techniques are routinely used to gauge the thickness of mill liners:1. Visual inspection;2. Ultrasonic thickness gauging (for steel liners); and3. Physical inspection (e.g. nail inserted in rubber liners)"

Jan 1, 2008

By Augustus Locke

Jan 1, 1923

By W T. C Kendall, H D. Ngo

Garden Well is a shear-hosted Archaean orogenic gold deposit located 100 km north of Laverton, Western Australia. The Garden Well processing plant is designed for a nominal 491 t/h milling rate and annual capacity of 4 Mt. The plant has three key innovations:1. a scrubbing circuit, expected to reduce grinding power consumption by up to 20 per cent2. a secondary cycloning/gravity circuit, providing a second opportunity for gravity gold recovery (additionally, the circuit effectively increases the leach residence time of the coarse gold bearing fraction of the leach feed by approximately 60 per cent, without any additional tankage)3. the use of mid-stream oxygenation to enhance gold recovery.The Garden Well deposit is free-milling with overall laboratory gravity/leach gold recoveries exceeding 95 per cent at a P80 grind size of 150 ¦m. Three mineralogical domains have been identified: oxide, transition and fresh, with the fresh domain having subdomains of fresh ultramafic and fresh shale. There is a high component of gravity recoverable gold in all three domains.This paper will discuss these innovations and the design challenges and the risk mitigation strategies that were adopted to ameliorate the prototyping risk. The performance of the plant since commissioning together with lessons for the future will also be presented.CITATION:Smith, R J, Kendall, W T C and Ngo, H D, 2013. Treatment plant innovation at Garden Well, in Proceedings World Gold 2013 , pp 315-324 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By V. A. James

The new electrolytic copper refinery situated at Copper Cliff, Ontario, has been in operation for over a year and a half. This plant is operated by the Ontario Refining Company, Limited. The associated companies behind the enterprise are the International Nickel ?company of Canada, Limited, the American Metals Company, Consolidated Mining and Smelting Company of Canada, Limited, and Ventures, Limited. The plant was an outgrowth of the rapid development of copper resources in the nickel-copper ores of the Frood and other great mines in the Sudbury district, and of the desire to have all primary production units grouped together as compactly as possible. Starting anode furnace operations in June, 1930, and electrolytic refining on July 1st of that year, after a record-breaking construction programme completed in only fifteen months, the plant soon settled into its stride and the usual starting-up difficulties were .rapidly overcome. The rated capacity of the plant, namely, twenty million pounds of refined copper per month, has, of course, never been reached, due to depressed business conditions and latterly to the world copper agreement limiting production. It may be said, however, that the present installation has proved its ability to produce in excess of its rated capacity, and with relatively minor additions to plant and equipment that capacity can be doubled. Owing to the severity of the winters, when temperatures of from 20 to 40 degrees below zero are to be expected, the building of this refinery involved a number of problems in insulation, layout, ventilation, etc., which were rather unusual in copper-refinery construction.

Jan 1, 1932

By W. D. Haselton

This paper dealing with the mining methods used in producing iron ore from an underground operation located in the central-western part of the Mesabi Range in Minnesota is one of a series being prepared by the Bureau of Mines on mining practices, methods, and costs in the various mining districts in the United States. The mine here discussed was laid out in accordance with a plan adapted to a rather unusual type of ore body, the nature of which is such that the mining method necessarily differs in certain respects from the method used at most of the mines in this district. A description of it may therefore be of interest.

Jan 1, 1930

By Robert W. Gordon

The art of excavating tunnels with continuous, full-face boring machines began almost 90 years ago, in the early 1880's. At this time, Colonel Beaumont designed and manufactured a seven-foot diameter tunneler for boring under the English Channel, Despite the absence of modern materials and manufacturing techniques, Beaumont's tunneler, powered by compressed air piped in from the surface, was quite successful. During its short, but impressive existence, this machine set a record of advancing in chalk 50 feet per day for 53 days - which is impressive even by today's standards. Despite the apparent success of this early tunneler, almost 80 years passed before any further significant development was accomplished in this field. Demands from the construction and mining industry and society itself have motivated the development of the modern tunneling machine. Our rapidly growing civilization needs faster, less expensive and safer means of excavating tunnels. Space age technology and materials have played a major role in making hardrock tunneling machines possible.

Jan 1, 1970

By Jonathan G. Price

Silver-copper-lead deposlts in Precambrian, Permian, and Cretaceous red-bed sequences near Van Horn, Texas, have the following features In common: (1) mineralization controlled by steeply dipping fractures in sandstones, (2) lack of ore In overlying and interbedded limestones, (3) absence of igneous intrusions, (4) sulfide ores without typical hydrothermal gangue minerals, and (5) associated arsenic, molybdenum, zinc, and cadmium but not gold. Ore was probably deposited along fractures by reaction between low-temperature, oxidizing, metal-rich ground waters and sulfide-bearing waters or rocks. Detailed mapping and studies of fracture patterns indicate that mineralization occurred during Basin and Range extensional deformation, thereby postdating major Trans-Pecos igneous activity.

Jan 1, 1983

By Leonard F. Heising

Domestic production of Metallurgical-grade manganese has contributed such a small percentage of the United States industrial demands that areas known to contain large tonnages of low-grade manganese ore have been investigated by the Bureau of Mines to reduce this country's dependence on foreign ores. A major source of low-grade manganese is the Cuyuna iron range in Minnesota. The entire Cuyuna iron range is covered by an overburden of glacial drift that, in some places, reaches depths of 200 feet or more. Prospecting and exploration must be guided by geophysical methods, drilling results, or projections of exposures found in operating mines because there are no outcrops near the productive parts of the range. Past drilling for the purpose of outlining iron ore generally was confined to the highly oxidized zones. Much of the manganese with which the Bureau of Mines is concerned occurs in thin-bedded unoxidized iron formations, too low in iron content to have been of interest to those seeking commercial iron ore. The primary objective of the core-drilling reported here was to obtain cores of different classes of manganiferous rocks and to determine whether or not the samples were amenable to beneficiation.

Jan 1, 1959

By David R. Maneval

The mining of coal in Alaska receives special treatment in the Surface Mining and Reclamation Act passed by the U.S. Congress in 1977 (PL95-87). Section 708 of the Act required that the National Academy of Sciences (NAS) perform a study of "Surface Coal Mining Conditions in the State of Alaska, In Order to Determine Which, If Any, of the Provisions of the Act Should be Modified with respect to Surface Coal Mining Operations in Alaska'. The special committee on Alaskan Coal Mining and Reclamation of NAS completed their study in 1980 and prepared their report (NAS, 1980). At this time, the Secretary of the Interior and the Congress have taken no special action with regard to either special regulations geared specifically to Alaska or to submitting special draft legislation to the Congress requesting amendment of PL95-87. The Alaska Department of Natural Resources (DNR) has drafted legislation which was submitted to and passed by the 1982 session of the State Legislature. The State regulatory agency has also drafted the requisite regulations necessitated by the amendments to the State's Basic Coal Mining Act. It is expected that by mid 1983 DNR will have applied for "primacy" to the office of Surface Mining, U.S. Department of the Interior (OSM). They will be submitting the amended State Law, the revised State Regulations and an operational plan as called for by OSM regulations. The presumption is that primacy will be granted to the State of Alaska under PL95-87. The Usibelli Coal Mine continues to be the only operational commercial mine for coal in the State of Alaska. It produced 7.26 x 10 kg (8 x 10 " T) of coal during 1981. The current mine was started in 1920 by Captain Lathrop, an early developer and pioneer in Alaska. It was continued by Emil Usibelli and was taken over after the death of E. Usibelli (in the 1964 earthquake) by his son Joseph Usibelli who is the current President of, the firm3 Their latest improvement is a 27.5 m (36 yd. )Bucyrus-Erie Dragline which handles most of the overburden removal. The coal is removed by a loader-truck combination. They are currently starting up the use of a unit train loading facility which handles forty cars every two hours. This loading system was a development necessitated by the Sun Eel Export contract. The Alaskan Railroad was a major cooperator in the development of the first unit train loading facility in Alaska.

Jan 1, 1982

By S. Rajan

Familiarity with NEMA standards and the influence of the power supply on the motor-load system permits the user to make the necessary decision as to whether a standard or special motor is needed for his particular application. This paper highlights the more important aspects of NEMA standards for ac induction motors from the application engineer's standpoint and the effect of the power supply on motor characteristics.

Jan 1, 1975