Search Documents

By G. W. Poling, G. W. Hawthorn

"""Unassayable gold and platinum group metals"" have come into vogue in the 70sand 80s in certain jurisdictions as a means of perpetrating fraud. Usual arguments are that a particular ore is not amenable to ""conventional fire assaying"". Explanations for unassayable gold usually revolve around: evaporation of micron-size gold; vaporization of organic gold complexes; volatization of gold halides; alloying of gold with PGM's which prevents fusion or alloying which prevents collection .This paper reviews several of the myths and truths of gold and PGM assaying with the knowledge that not a single mine operatesin thefree world producing gold from unassayable ore.INTRODUCTIONAccurate analyses of exploration data and estimation of ore reserves are two of the most important functions of professional geologists and engineers in mine development. The problems encountered become particularly acute when dealing with precious metal values where very low grade deposits (in the range of 0.0 I Troy oz per ton or - 0.2 ppm (g/t) by weight) sometimes are economic or constitute ""ore"". To emphasize this ""scarcity effect"", a gold assay of 0.4 g/t (0.01 T oz/st) would result from the presence of a single 420 J.tm (35 mesh) gold flake (which weighs I milligram) in a 5 kilogram siliceous sample.The current high gold price and the prospects of high profit margins awaiting exploitation of even very low grade gold deposits, has spawned a sizeable group of incompetent or fraudulent gold assayers. These ""assayers"" will often report significant precious metal values where no such values occur. Failures of legitimate assay labs to confirm these ""significant"" assays are often attributed, by the charlatan, to their capability of detecting ""unassayable gold"" while the check assayer cannot. Geologists and engineers lacking detailed knowledge of sampling and assaying techniques are often hard-pressed to convince a gold-fever aroused company executive or investor-client to abandon a property on which attention-grabbling values have been reported, often by more than one laboratory. Professionals engaged in such evaluations must acquire an understanding of contemporary precious metal sampling and assaying techniques . Only then can they determine whether misrepresentation of values have been perpetrated"

Jan 1, 1989

By Pierre Sauvé, Guy Perrault, Armand Savoie, Pierre Trudel

"La Mine Doyon est une entreprise détenue à parts égales par Cambior Inc. et par Minerais Lac Ltée qui en est l'opérateur. Les statistiques de production au 1"" janvier 1990 indiquent que, depuis le début de son exploitation (1980), 10.3 Mt de minerai d'une teneur moyenne de 5,9 g Au/t ont été usinées. Les réserves sont estimées a 10,4 Mt à une teneur moyenne de 6,6 g Au/t jusqu' à une profondeur de-450m.Trois zones minéralisées sont présentement en exploitation. Ces zones sont caractérisées par la présence de veines de quartz-pyrite accompagnées localement de chalcopyrite. Les roches encaissantes sont les schistes a séricite (zone# 1), les roches volcaniclastiques de composition felsique (zone #2) et intermédiaire (zone #2, zone ouest) ainsi que les roches intrusives appartenant au pluton de Mooshla (zone ouest). Toutes ces roches ont subi un métamorphisme régional dont l'intensité correspond à la limite supérieure du facies schiste vert ( -425°C}.Les zones minéralisées sont situées à I' intérieur des zones de déformation et d'altération les plus intenses. L'étude des structures mineures nous indique que la région a subi plusieurs épisodes de déformation ductile a fragile qui sont antérieurs, contemporains et postérieurs al a minéralisation. L'analyse structurale indique également que la déformation majeure est associée à une importante phase de compression orientée N-S a NNE-SSW.L’ensemble des observations suggère que la minéralisation et I' altération associée sont de type épigénétique. La mise en place du minerai se serait effectuée à la fin de l'épisode principal de métamorphisme et de la déformation."

Jan 1, 1990

By E. J. Debicki

"At the 1992 PDAC Convention, Norman Keevil announced the formation of the Exploration Technology Division (ETD) of the Mining Industry Technology Council of Canada (MITEC). It was evident that base metal reserves in Canada were declining and that the cost of discovering a deposit in Canada was increasing. Coordinated research to develop new exploration technologies was required to discover the next generation of ore-bodies. The ETD was formed in response.The mission of the ETD is to contribute to the survival, profit, and growth of the Canadian mining industry by improving the efficiency and effectiveness of mineral exploration through development of innovative technology by man-aging and coordinating applied cooperative research. In addition, it is the intent of the ETD to become the principal agency by which cooperative research funds are transferred to researchers from the mining industry. The division is industry driven, industry funded and industry managed.The ETD’s Three-Year Plan has focussed80% of its research funds toward two objectives, improving the efficiency of exploration for VMS deposits and establishing the parameters necessary to discover the next Hemlo deposit. The remaining 20% is allocated to other projects, with the current emphasis on geophysics.In 1995, corporate members total twenty-three major mining companies accounting for90% of the exploration expenditures in Canada. The ETD is currently managing ten cooperative research projects totalling $4.6million. Other projects, estimated at $1.6 mil-lion, are currently under development."

Jan 1, 1996

By Jerry M. Whiting, Neil J. Duncan

"Does Canada need a mining industry? Isn't it a chronically depressed collection of businesses that pollute the air and water and tear up the countryside? Wouldn't it be better if Canada's investors devoted their attention to high-technology endeavours, tourism, and other relatively pleasant tasks?Probably the answer to whether Canada needs a mining industry in the 21st century is to look at the real mining industry that is in operation today. The facts indicate that mining is a very important contributor to Canada. It has certainly encountered some challenging times during periods of recession, and it face s severe and continuing problems of cost and competition in world markets. However, uneconomic mines have been closed, others suspended, and productivity has risen dramatically with employment at 77 000, down from 101 000 in 1981. The country's metal and non-metal mines, metallurgical plants and semi-fabricated metals industries employed an estimated 378000 workers in 1986, and paid wages than any other sector of the Canadian economy. This effort resulted in the production of 60 different metals, non-metals and structural minerals valued at $13.5 billion.The trade aspects of the mining industry are of paramount importance. If there is a reason for this situation to change during the next century. it eludes the authors. Canada has the well-developed expertise to discover, evaluate, develop, operate and profit from existing and new businesses based in an enormous area endowed with a nearly unbelievable variety of mineral resources. Many countries throughout the world must rely on producers like Canada, if they are to maintain and/or improve their standard of living."

Jan 1, 1988

By M. Pesowski

"Certain environmental problems can substantially alter the physical properties of the subsurface. In such cases, geophysical methods can be used to map the distribution of subsurface contamination or buried wastes prior to drilling or sampling. For example, inorganic contamination by acids, bases, salts, or metallic ions can be detected by instruments that measure ground conductivity; metallic objects such as buried drums, pipelines, etc. can be located by magnetic survey, and radioactive mine waste can be mapped by radiometric techniques. Geophysical methods can also be used to characterize site geology. If carried out prior to development, they can assist in identifying areas of high- and low permeability and sources of natural contamination. The methods can also be used to establish baseline values and to locate stable areas for development of environmentally sensitive facilities. Application of geophysical methods to environmental problems is illustrated with examples from base-metal mines, uranium operations, and potash and oil-sands operations. Particular attention is given to the problem of acid mine drainage. =IntroductionGeophysical methods have been used for many years by the mining industry in exploration and geotechnical investigations. The basic techniques for mapping variations in physical properties of the subsurface have been adapted to meet the special needs of resource exploration and development in the coal, potash , oil sands, industrial minerals, precious metals, and base-metal industries. Now the mining industry is facing another challenge: to operate the mining cycle, from discovery to closure, with minimum impact on the environment. This involves the rehabilitation of abandoned mining sites, the minimization and effective containment of pollutants at operating and developing sites, and the longterm containment and monitoring of sites after mine closures.Some of the most difficult aspects of environmental control and monitoring relate to the location of buried waste and contaminated fluids in the subsurface. As in the search for buried ore deposits or in geotechnical investigations, geophysics can be a valuable aid in subsur face environmental investigations. Investigations can be remedial , involving the location or monitoring of existing problems, or preventative, where problem areas are identified or background values are established before site development. In either case, geophysical methods should not be considered as a substitute for drilling. Geophysical interpretations in general do not provide the detail required for a complete environmental or geotechnical investigation. They are most useful as rapid reconnaissance methods for targeting subsequent drilling or for interpreting subsurface condit ions away from drill holes. Table I lists the common geophysical methods and the physical properties to which they are sensitive."

Jan 1, 1993

By J. Ga?parík

The optimal selection of machine or machine group for building processes is very important role of building planner during the process of building planning. During this process building planner have to analyze several factors influencing the final effective decision concerning this problem. There are several factors and criteria for effective selection of building machines. In our contribution there are analyzed: ability of machines to realize designed building process (quality aspect), duration of mechanized process (time aspect) and minimizing of energy consumption (cost and environmental aspect). Selected scientific methods and theories of problem solution can be divided into these groups: theory of system (creation of building machine selection method), multi-criteria optimizing method (analysis of mechanized building process from the point of more optimal criteria), queuing theory (application during the mathematical modeling of mechanized soil processes), method of scientific analysis (analysis of factors influencing final decisions), method of scientific synthesis (creation of optimizing method implemented into building processes and possible application in construction sector). Multi-criteria optimizing method were during our research work implemented into soil processes and selected building group machines (excavators and trucks), which are very often used in construction and mining processes. This method can be considered as a multi-level decision making process based on multiple parameters. In our contribution is presented key mathematical models for model example solution and software built in Java, which has been created as a support for method described in this contribution. Application of this method and software will increase the effectiveness of building machine selection from the point of key criteria of optimizing: quality, time and energy consumption.

Aug 1, 2013

This paper describes basic parameters, such as surface forces and film elasticity, affecting the stability of foams (two-phase froths). We used the thin film pressure balance (TFPB) technique to measure the surface forces in foam films stabilized with various frothers such as pentanol, octanol, methyl isobutyl carbinol (MIBC), and polypropylene glycol (PPG). The results were compared with the foam stabilities measured experimentally and the film elasticities calculated using a new model developed by Wang and Yoon (2006). It was found that at low electrolyte (NaCI) concentrations foam stability is controlled by both film elasticity and surface forces (or disjoining pressure), the relative contributions from each changing with frother type and concentration. Further, the kinetics of film thinning was studied at a high electrolyte concentration. The results obtained in the present work showed that the major role of a frother is to decrease the hydrophobic force rather than to increase the film elasticity. This conclusion is drawn from the observation that at the typical frother (MIBC) concentrations employed in flotation, frother additions cause sharp decreases in hydrophobic force while causing relatively little changes in film elasticity.

Jan 1, 2006

By P. Diehl, M. David

"As shortage in the supply of mineral commodities become more probable, there is an increasing need for reliable and comparable reserve/resource data. It is therefore necessary to standardize the traditional classification procedure by quantifying the three basic criteria in resource evaluation: economic feasibility, geologic assurance and recovery. For the portion of fairly well documented deposits and as far as their geologic parameters are concerned, geostatistical methods can considerably improve the quality of ore classification. In respect of economic feasibility and recovery, approved geostatistical methods can be introduced directly into the classification procedure. The concept of geologic assurance, however, requires a new interpretation in terms of geostatistical error spread. As the ""risk"" in estimating an ore parameter is also a function of the respective block size, it is reasonable to define not only upper limits for the risk intervals for each class of uncertainty, but also block dimensions which reflect the typical stage of planning associated with the different ore categories. An algorithm has been developed to block out areas inside a mine or a large panel which satisfies the constraints of an ore category in respect of the risk intervals of a parameter and in respect of their size. The method has been computerized and is demonstrated on a massive copper-nickel deposit.IntroductionFacing an uncertain future with respect to the demand and supply of mineral commodities, both governmental authorities and the mining industries show an increasing interest in a useful framework for the assessment and classification of the remaining mineral resources"". This is reflected by the recently published appraisal and classification scheme of the United Nations as well as by the new or revised classification systems of the USA; Canada or Australia. Moreover there are various classification schemes which are currently discussed in major mining companies."

Jan 1, 1982

By Moatassem Abdallah

Buildings in the United States account for 72% of electricity consumption, 40% of energy consumption, 13% of water consumption, 39% of carbon footprint, and 30% of waste output. In order to minimize these negative environmental impacts, many public and private owners are requesting that their buildings be more sustainable and certified under the widely known programs such as leadership in energy and environmental design for existing buildings (LEED-EB). To accomplish this, buildings are increasingly integrating green building measures including energy efficient lighting, motion sensors, thermal pane glass, geothermal heat pumps, EnergyStar rated HVAC systems, photovoltaic systems, and wind turbines. This research paper presents the development of an automated decision support system (DSS) that is designed to optimize the selection of green building measures which can be used to upgrade existing buildings. The developed DSS incorporates two optimization models that are capable of (i) minimizing the total upgrade costs required to accomplish a specified LEED-EB certification level such as silver or gold; and (ii) maximizing the number of accredited LEED-EB points within a specified budget of upgrade costs. The DSS is designed to identify a set of optimal upgrade decisions that accomplishes these two optimization objectives. An application example is used to illustrate the capabilities of the DSS and to validate its result.

Aug 1, 2013

By A. P. Fletcher, K. Croteau

The intent of this paper is to cover some aspects of preventive maintenance methods which have come into wider usage in recent years as a means of increasing operating efficiencies. Particular emphasis is placed on lubrication and related servicing.

Jan 1, 1967

By J. A. Cox, R. S. Mattson

"One of the main problems encountered in employing sublevel caving is the inherent high dilution factor. The operating results at Granduc illustrate that this dilution can be closely controlled and satisfactory recoveries achieved, in base metal ores grading less than 2.0% copper equivalent, by using an assay grade control system based on the fundamental draw characteristics. The history of draw control procedures employed since the start of operations provides an effective comparison between this system and one based mainly on tonnage. The transverse and longitudinal sublevel caving mining methods are described and it is shown how improvements in design layout, operating practice and draw control in narrow complex ore zones (12-foot minimum width) have raised the operating performance of the longitudinal system to a satisfactory level."

Jan 1, 1973

In terms of throughput, product size and power draw, grindcurves provide a measure of the response of the mill performance to changes in mill operating parameters ? usually mill filling. Since presenting the principle in 2006, grindcurves have been applied to a wide variety of AG and SAG mills. Mill response has been carefully measured for variations in: mill fillings from 15% to 40%; throughput by a factor of two; power by 50%; feed blends; liner profile; and mill speed from 65% to 80%. The outcomes of this extensive program of work are presented as the measured grindcurves. How they have enhanced our understanding of mill operation and how they may be applied to practical daily mill control is discussed. It is proposed that this technique provides a viable and valuable mill control tool that may find extensive application in the industry.

Jan 1, 2012

By Frank Mucciardi, Louca Gourtsoyannis

"Low and inconsistent recoveries of aluminum in the production of aluminum-killed steels triggered an extensive research program on the aluminum dissolution kinetics at McGill University. This research program led to the understanding of the melting kinetics and the hydrodynamics of making additions to liquid steel. It showed the necessity of gradually releasing liquid aluminum at the bottom of the ladle to increase aluminum recoveries.This knowledge was verified in practice at Sidbec-Dosco, where a prototype aluminum wire injector was developed and installed for the first time in Canada. The industrial application showed the validity of the theoretical and experimental results and provided further data for the mathematical modelling of the process.The development of the theoretical understanding, the industrial results, and the interaction between university and industry are presented.IntroductionAluminum is an extremely effective deoxidizer of molten steel; nevertheless, an efficient method of adding it to steel has eluded steelmakers for many years. It is well known that the recovery of aluminum used in the production of aluminum killed steel is both low and eratic, especially when the aluminum is added in the form of bars or lumps from chutes into filling ladles, a practice still common in many of today's steelmaking operations.As the density of aluminum is only about 40010 that of molten steel, it is conceivable that loose bars of aluminum simply ""thrown"" into a filling ladle will resurface before any appreciable dissolution of the aluminum has occurred, particularly if the depth of penetration of the additions is small. Before one can conclude that this is indeed the case, it is necessary to know the melting kinetics of an aluminum addition. Back in 1972, this information was not available; hence an extensive research program which focused on melting kinetics was initiated at McGill University."

Jan 1, 1982

By Peter A. Adcock, Rob Fraser

Interest in monitoring nucleation overpotential in electrometallurgical processes dates back some 40 years or more. Conversely, remarkable progress has been made in recent years on describing in detail the processes involved in the formation of thin films by electrodeposition. The newer body of work underscores a need for greater clarity in speaking about the role of nucleation and in the acquisition and interpretation of nucleation overpotential measurements – the aim of this paper. In electrometallurgy, it is generally desirable to form deposits that remain smooth, compact, and relatively fine-grained while the deposit grows to a thickness on the order of 5-10 mm, about 100 times thicker than technological thin films. Hence, we distinguish two kinds of nucleation that can result in formation of new grains:- (1) initial nucleation (onto the substrate surface) of islands that coalesce into growing deposit, and (2) ongoing nucleation of new grains on the deposit surface long after the substrate has been covered and ceases to have a direct influence. Nucleation overpotential of the first type should be measured on an electrode surface truly representative of a real industrial substrate. The second type requires judicious choice of electrode material – an “ideal foreign substrate”. In general neither the industrial substrate nor native metal to be deposited is suitable for measurement of the second type of nucleation overpotential, because of interference by other processes. For the future, clear terminology is needed to distinguish these two types of nucleation potential. The second is the one for which the type of plot dubbed by Moats and Derrick as an “Adcock plot” and by us as a “Kerby-Adcock plot” was first conceived and correlated with relatively thick zinc electrodeposits. The data of Moats and Derrick showing trends for copper electrodeposition on stainless steel and on copper electrodes are interpreted within this framework.

Jan 1, 2016

By Q. Li, X. -L. Lei

Accompanying global energy shortage and high energy prices, shale gas has been the focus of exploration and it has attracted great attention from both academia and industry. The combination of horizontal drilling and hydraulic fracturing enables the extraction of huge quantities of shale gas from impermeable shale formations. During the process of hydraulic fracturing, great amounts of water, sand and chemicals must be injected into the shale formation at a high pressure, which may trigger seismicity. Such events could occur due to the presence of faults or the reactivation of these potential faults. Shale is the main component of source rock in the Sichuan Basin, China, and has the greatest contribution to the natural gas of the basin. In order to investigate the fracturing mechanism of shale in the Sichuan Basin, China, a series of rock fracture tests under triaxial compression were carried out in the laboratory in order to investigate the hydraulic fracturing behavior in relation to the seismicity. Based on the high multichannel waveform recording system, the detailed spatio-temporal distribution of acoustic emission due to micro-cracking was used to examine the deformation and fracture behavior of shale. In addition, the effects of confining pressure on the deformation and fracture in shale under triaxial compression by acoustic emission monitoring and X-ray computed tomography were discussed in the paper. The experimental results indicate that the shale samples demonstrate brittle fracture behavior. The confining pressure has a great effect on the complexity of the fracture planes and the spatial distribution of acoustic emissions, but few contributions to the location of the major hydraulic fracturing plane. The foliation of shale plays a dominant role in the rupture process and the geometry of the major hydraulic fracturing plane. The high confining pressure increases the strength and restrains the deformation of shale during compression process. These results shed some light on the understanding of onset of hydraulic fracture initiation not only for shale gas exploration and production, but also for CO2 geological storage and underground energy storage.

Jan 1, 2015

The Shortage of Mining and Metallurgical Engineers I N many parts of the Western World attention has recently been drawn to the acute shortage of mining and metallurgical engineers produced by the universities. Naturally, the reasons for this shortage have been discussed, and various remedies for it have been proposed. In this paper, I want to examine some of them. It is now fairly generally ac-cepted among mining men that the easy attractions of modern urban life have left the career of mining in the metaphorical as well as in the literal backwoods. The industry finds it increasingly difficult to recruit adventurous and intelligent young men; for such men now seek their intellectual, if not physical, adventure in more glamorous occupations from a safe social base in suburbia. The salaries, opportunities and security offered by the mining industry do not complete effectively with the rewards offered by other industries and by commerce, taking into account the social disadvantages of a mining life. The excitement and other non-material attractions of mining

Jan 1, 1965

By Neil Campbell

Abstract Following discovery on the Giant property of very promising gold deposits, some of which terminate against the steeply-dipping West Bay fault, a geological study was initiated co locate possible faulted extensions of the ore. Geological mapping revealed that the ore and the shear zones to which the ore is confined are older than the fault and therefore subject co displacement by it. It also disclosed several diabase dykes which seem co provide the best basis for determining the fault movement. After applying various techniques co determine their strikes and dips, the dykes were used as structural markers and it was estimated that, subject co certain possible errors, the movement on the fault was 16,140 feet (3.06 miles) south and 1,570 feet (0.297 miles) down on the west side relative co the ease. Evidence supporting this conclusion was obtained when subsequent deep diamond-drill holes intended to test the hypothesis cut an ore-bearing major shear zone which, so far as can be determined, is nearly identical with its present correlative on the Giant property. Introduction The fault under consideration follows a northerly trend past the west side of the original settlement of Yellowknife, which is situated 600 miles north of Edmonton and 400 miles from the Northern Alberta Railway terminus at Waterways, Alberta. The mining properties chiefly concerned include the southern part of the Giant claims, on the east side of the fault, and the Con-Rycon-Demelt claims, on the west side, 3Y2 miles to the south. Geological data were also obtained from the eastern part of the A. Y.E. property, which lies south of the Giant claims, and from the Negus, Meg, Yellorex, and Kam properties, which are south and southeast of the Con-Rycon-Demelt claims. Recognition of the major faults in the Yellowknife Bay area, including the West Bay fault which appears to be the greatest, resulted from the work of Dr. A. W. Jolliffe (McGill University, formerly of the Geological Survey of Canada) in 1935 and subsequent years. It has been stated with little exaggeration that these faults rank with the largest known steeply-dipping dislocations of the earth's crust. In the winter of 1939, a mineralized shear zone named the Creek Vein was found on the Giant property. It was noticed that the space relationship between the new shear zone and a body of quartz-feldspar porphyry is roughly the same as that between the Con C-4 shear zone and a body of acidic flows lying north of the Con property. Coupling this relation with the assumption that the movement along the fault is dominantly horizontal, it was postulated that the Giant shear zone represented the faulted extension of the Con C-4 shear.

Jan 1, 1947

By S. G. Enns, E. W. Yarrow

"Situated about 200 km southeast of Juneau, Alaska, within the lower Stikine River region of northwestern British Columbia, the Galore Creek porphyry Cu-Au deposits are hosted by Upper Triassic to Lower Jurassic alkaline volcanic rocks and comagmatic syenite intrusions. Early and late breccias are also locally important host rocks for mineralization. Of the twelve identified Cu-Au deposits, the most important are the Central zone, Southwest zone and the Junction deposits with a combined resource of 284 million tonnes at 0.67 % Cu.The composition of the intrusive rocks is predominantly silica-undersaturated, alkaline, and metaluminous. Four intrusive suites are identified from field, petrographic and petrochemical data. Variation within suites or lineages can be explained by alkali feldspar fractionation. An oscillation between porphyritic and equigranular intrusions is suggested by the sequence of different intrusive lineages. The youngest intrusive phase is silica-saturated.A complex succession of intrusive and hydrothermal events is demonstrated at Galore Creek, with the most intense alteration and mineralization developing early in its history. In the Central zone, early Ca-K-silicate alteration, dominated by garnet, biotite, Kfeldspar, and anhydrite grades outward into K-silicate alteration. Both are locally overprinted by retrograde sericite± anhydrite± carbonate (SAC) alteration. The most intense Ca-K-si/icate alteration, a magmatic-hydrothermal breccia, and an early syenite intrusion are all coincident with copper mineralization in the core region of the Central zone. However, higher grade mineralization in the zone, exceeding 1 % Cu with more than 0.5 g/ t Au, is typically associated with intense biotite-rich, K-silicate alteration primarily hosted by altered volcanic rocks. The highest gold grades, commonly exceeding 1 g/t, are associated with bornite-rich mineralization situated in the northern and southern parts of the Central zone.Mineralization in the Southwest zone occurs as disseminated chalcopyrite within a late, diatreme breccia and adjacent K-feldspar porphyry. In the other satellite deposits, disseminated chalcopyrite and bornite occur in volcanic rocks with alteration that is similar to the Central zone."

Jan 1, 1995

By R. A. Brown

RIGHT NOW the Canadian oil business is suffering from growing pains brought on by developments outside our borders. I would like, therefore, to place our industry in perspective for you in two ways. I would like first to describe it briefly and let you see it in relation to the world oil industry. Then I would like to bring it back and place it into perspective against a strictly Canadian background. Naturally, in such a discussion, it is necessary to use a certain amount of statistical material. I'll endeavour, however, to keep it to a minimum. Eleven years ago, before the discovery of Leduc, Alberta could boast of having 21,000,000 barrels of crude oil reserves. Five years ago we had 1,810,000,000 barrels. At year end, 1957, our remaining recoverable reserves totalled more than 3,000,000,000 barrels. In 1957, our potential production in Alberta reached an all-time high of 756,000 barrels a day. Unfortunately, our actual average daily production dropped from 393,000 barrels per day in 1956 to 376,000 barrels per day in 1957. And in 1958, to date, it has dropped sharply to around 300,000 barrels per day.

Jan 1, 1958

By T. R. Ellis

The valuation of mineral properties in the U.S. is only partially regulated. The regulations which have jurisdiction or impact appear to have such mainly as a consequence of unintended fallout, since the regulations were designed for other purposes. Court case history can also be important. The combined results are a mixture of bad and good, with important lessons to be learned. Since 1981, the Securities and Exchange Commission has prohibited U.S. listed companies from reporting quantitative estimates of mineralization and the value of mineralization, other than proven and probable reserves. This results in the minerals appraiser (valuator) working with a shortage of data in his everyday work, both on the subject property and in sales analysis. Between 1989 and 1995, all 50 states and essentially all federal agencies adopted the Uniform Standards of Professional Appraisal Practice (USPAP) for real property appraisals (valuations). The major national appraisal societies also require their members to abide by USPAP. A significant portion of minerals appraisals must now follow these standards. This paper will discuss the content of USPAP. It provides a very good framework for the valuation of a minerals property or a mine, both as real property and as a business. However, the credentialing standards for real property appraisers are now prohibitive for minerals appraisers.

Mar 1, 2002