Search Documents

Queensland Mines Limited operates a small uranium treatment plant at Nabarlek in the Arnhem Land Aboriginal Reserve, some 265 km due east of Darwin. It was the wish of the local Aboriginal people that the ore be treated over an eight year period and that no township be constructed in Arnhem Land. Due to these wish- es it was decided to house employees and their families in Darwin and fly the employees to the minesite for work rosters. A singleman's style camp only was constructed at Nabarlek. To satisfy the Aboriginal people's wishes all recreation time is spent offsite thus lead- ing to a roster system whereby employees spend three distinct periods of 6, 6 and 4 days on- site, broken by recreation periods of 3, 4 and 5 days in Darwin, during each 28 day period. Employees are divided into four opposing rosters, which allows at any given time for approximately half the workforce to be onsite and the other half on rest and recreation leave in Darwin. This method of staffing has generally proved to be most satisfactory although at times problems arise, in terms of both product- ion and social effect not normally encountered when operating within more conventional circum- Stances.

Jan 1, 1984

Flue gases from electrical power station boilers, roasting, metallurgical and chemical plants could be treated by flotation using conventional flotation machines. The flue gases are introduced into the pulp instead of the air. The flotation media is a suspension of Ca(OH)2 or CaCO3 or a solution of NH4OH etc containing Na oleate as collector and frother. The SO2 and dust content of the initial flue gases were experimentally reduced by 100 to 1000 times in one flotation operation. The velocity of the flue gases through flotation machines could reach approximatively 0.4 to 0.5 m/s and more against 1.5 m/s reached in scrubber absorbers used for this purpose, but the quality of purification is expected to be better for flotation, which is essential for the cases of heavy polluted metallurgical and chemical flue gases. For some chemical plants the flue gases flotation media may be different and more suitable as compared to the above mentioned media. The proposed flotation method could be used for separation of dry grinded ores in the form of aerosols, with a realisation of flotation from a closed space (gas bubble in the pulp) onto the interface liquid-air where the particles are attached inside the bubbles.

Jan 1, 1993

By Boontanjai C, Boyapati ER

Reagents used for batch flotation tests were Aeroxanthate-343 & 350, Dow Z-6, & reagent-4037 (from Benambra) as copper collectors; Na2SiO3 & Na2S2O3as gangue depressants; lime & HCl as pH regulators; and pine oil & MIBC (methyl isobutyl carbinol) as flotation frothers. A Denver Sub A flotation cell of capacity 250 gms was used for the batch flotation experiments. Atomic absorption spectrophotometer was used for copper assays and microscopy for selectivity and liberation studies. Melbourne tap water was used throughout the experiments. Unless otherwise stated, the following parameters apply to the flotation experiments: flotation impeller speed - 1300 rpm, pulp density during flotation- 22%, reagents addition - in 4 stages, total conditioning time for collectors - 8 minutes, total flotation time- 9 minutes. A variable quantity of copper mineral collector according to the test in question was added, then conditioned the pulp for 2 minutes. The froth was removed by hand, scraping the full length of the cell at constant depth every 10 seconds. No frother is required for this copper tailing flotation. Four concentrates were collected after addition of collector and conditioning at 2,4,6 and 9 minutes. The pulp volume was maintained at a constant level to yield a constant froth depth.

Jan 1, 1990

WaihiÆs Cornish Pumphouse is located on the edge of town in a dynamic and changeable area where history affects the future. As in any successful project, ingenuity and team work have been significant factors in the planning and implementation of the buildingÆs relocation.   Work around the Pumphouse site commenced circa 1900 with preparation to sink the No 5 shaft. Construction of the pumphouse and the steam driven C pump was completed by 1904 with hints of what was to come evident in 1905 as the No5 Shaft collar had sunk 350mm in four years. By 1907 surface cracking developed over the Milking Cow cave area and in 1913 200 mm was cut off the main pumping rod as the ground was sinking at a rate of 25 mm per year.   In 1913 ground around No 6 shaft had subsided 600 mm.It was also the end of an era as steam gave way to hydroelectricity and electric pumps replaced the C Pump. C Pump was maintained as a backup from 1913 to 1929 and then finally scrapped. 25 years of underground caving operations removed approximately 400 000 cubic metres of ore leaving a 7 ha collapse crater that eventually became known as the mine lake.   On the edge of town a tension zone over the Royal Lode began to develop 50 m diameter chimney collapses as large scale blocks relaxed into unfilled stopes in the old Martha underground mine. After the 1999 collapse part of the main street was closed and after the 2001 collapse Hazard Zones were declared, more streets closed and areas evacuated and retired from residential use.   By 1984 the Pumphouse has approximately one degree of tilt and in 2002 tilt on the Pumphouse accelerated briefly and then settled down. Tilt accelerated again late in 2004 and a scoping study was initiated to define protection options for the pumphouse. The Martha Mining Licence requires Newmont to 'Take whatever precautions are necessary to protect the old Cornish Pumphouse adjacent to No5 shaft' and viable solutions needed to found.   Any work on the Pumphouse comes standard with a wide range of stakeholders, governing agencies and legal framework to consider. Land Information New Zealand (LINZ) is owner and administrator of the pumphouse.

Jan 1, 2006

By Y S. M Tabatabaei, R Hosseini Tabata

Application of Acidithiobacillus ferrooxidans bacteria to flotation of Sarcheshmeh low-grade copper sulfide ore was studied. Sarcheshmeh low-grade ore contains pyrite, which causes some problems in the flotation of copper minerals. In this study, A ferrooxidans was used to change the surface chemistry of pyrite and copper sulfide ores and consequently, their flotation behaviour. In the presence of A ferrooxidans and xanthate as a collector, pyrite was depressed whereas chalcopyrite and other sulfide minerals were unaffected. In addition, the pulp pH remained unchanged. It was shown that the surface chemical properties of the bacteria could be manipulated successfully to achieve the desired effects in a flotation process. The results showed that the recovery of pyrite in the presence of the bio-depressant is 50 per cent lower than when no bacteria were present. At the same time the recovery of chalcopyrite remained unchanged.

Jan 1, 2004

By L H. Chapman, I J. Kelso, N H. S Oliver

Utilisation of modern 3D visualisation tools, can improve our ability to correlate between different datasets, and thus to produce more accurate geological models. Here, we present an application of such techniques to the Century Zinc Deposit, northwestern Queensland, Australia. This stratiform orebody is the second largest Zn resource in the world (167.5 Mt at 8.2 per cent Zn, 1.2 per cent Pb, and 33 g/t Ag). It is hosted in the Page Creek Syncline affecting Mesoproterozoic shales and siltstones of the Wide Supersequence of the Isa Superbasin. As in other deposits, (eg McArthur River, Lady Loretta, George Fisher and Dugald River), the mineralised sequence is bound by an important regional structure, the Termite Range Fault, which partly intersects the deposit along its Eastern side. This fault is thought have been active during sedimentation and probably also during mineralisation of the lowest part of the Wide Supersequence. The anastomosing geometry of this fault system and crosscutting relationships with other NE trending structures indicate that it was reactivated several times from Mesoproterozoic to at least late Devonian times (>1000 million years in total); as a result, the ore sequence is subdivided into several fault blocks.Using two different computer modeling packages (GOCAD and 3ds max), we have reconstructed and restored the stratigraphic horizon with the highest Zn content, realised a series of isopach maps for each mine scale stratigraphic unit, plotted the three-dimensional distribution of Zn, Pb, Ag, Fe and SiO2, and have begun to evaluate the degree of correlation between thickness changes and sulphide zoning. With this approach it is possible to better understand the timing of mineralisation from a genetic perspective, because the origins of the orebody are controversial. Three-dimensional reconstruction is a vital tool for identification of syn-sedimentary and post-sedimentary fault activity. In conjunction with sulphide precipitation, these are factors that greatly influence the stratigraphic thickness distribution. Post-sedimentary deformation can be recognised directly by core logging and pit mapping, but the effect of tectonic movements during sedimentation (growth faults in particular), that represents a substantial variable when we attempt to reconstruct basin evolution, is difficult to evaluate without this methodology. The 3D models improve our understanding of the local basin architecture, identifying similar grade characteristics at different structural levels and thus suggesting that much faulting and folding are post-mineralisation events. In addition, we identified several growth faults adjacent to thickened layers, representing two possible sedimentary depocentres. These thicker domains apparently relate to the highest Pb content. If further analysis of rocks, thickness and grade distributions support this preliminary correlation, then a syn-sedimentary model for mineralisation might be applied, and would contrast with the sub-surface model for mineralisation of Broadbent et al (1998).

Jan 1, 2003

By G L. Boyd

Backfill applied to highwall mining is foreseen as a means to increase recovery of mineable coal to levels comparable with underground longwall mining. This paper describes the progress of research to demonstrate the role required of backfill to achieve real increases in coal recovered by highwall mining methods.

Jan 1, 1998

By Cai S, Zhou C

The requirement of mineral resources is increasing as the economy is continually increasing in China. The mining practices of various complex sulphide deposits and precious metal deposits, and the treatment of mine tailings and other industrial solid wastes, have greatly improved fill quality in the metal mines. From early-1980s, high density slurry fill, paste fill of total tailings, low density slurry fill with addition of silicate gelling agent, etc has been studied and applied, and some progress has been achieved. Today, mine tailings, slag and power plant ash are widely used as fill materials in mining. A number of cemented fill mines equipped with large capacity trackless mining machines are in production. Recently, The 3rd Chinese National Symposium on Mining with Backfill, 1995 has been held, the progress of fill technology in mines has been exchanged and summarised. In the paper, some aspects of fill technology used in the metal mines of China are briefly introduced and some applications of fill research work are presented.

Jan 1, 1998

By Boyd GL

Backfill applied to highwall mining is foreseen as a means to increase recovery of mineable coal to levels comparable with underground longwall mining. This paper describes the progress of research to demonstrate the role required of backfill to achieve real increases in coal rCCOvCrCd h\ hi'eh ss-all mining methods.

Jan 1, 1998

By M R. Dehghan, H Mansouri, A Hakami, M A. Ebrahimi Farsangi, F Faramarzi

Today, it is accepted that rock fragmentation by blasting affects loading and hauling operations, and also directly influences on downstream processes such as crushing and grinding. In this research, the influence of rock fragmentation by blasting on the performance of three mills at Gol-e-Gohar iron ore mine No 1 was studied. Firstly, the fragmentation of conventional blast patterns in iron ore (5 × 6 m) was studied using image analysis and the performances of three mills were monitored. Then, a new blast pattern (4 × 5 m) was designed and nine blasts were carried out using this pattern. Increasing the powder factor form 1650 gr/m3 to 2480 gr/m3 by changing the blast pattern design showed that mill throughputs increase five per cent to 30 per cent for the new pattern.CITATION:Hakami, A, Mansouri, H, Ebrahimi Farsangi, M A, Dehghan, M R and Faramarzi, F, 2015. Study of the effect of blast pattern design on autogenous and semi-autogenous mill throughput at Gol-e-Gohar iron ore mine, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 315–320 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By N Udugampola, d A. Seneviratne, X Ai, B Li

With the evolution of mining technology, wireless mesh networks using low-power, long-range technologies such as LoRa are increasingly utilised in underground mining operations. Efficient deployment of wireless nodes in such mesh networks necessitates understanding radio wave propagation behaviour in underground mines. While existing propagation models either remain theoretical or apply only to basic geometric shapes, we propose a practical approach to analyse radio wave propagation behaviour in underground mines using ray tracing simulations with reconstructed 3D models of targeted environments. Our method validated using a set of corridors as a substitute for underground mine environments, involves constructing a 3D model using SolidWorks from LiDAR scans of the environment and performing wireless transmission simulations using the MATLAB ray tracing toolkit. Our simulation model is also fine-tuned by calibrating the raytracing parameters based on real-world LoRa transmission experiments in the actual environment corresponding to the 3D model. This method offers a practical solution for optimising wireless node placement in underground mines, facilitating efficient network deployment while reducing the need for extensive physical testing of radio wave transmissions.

Sep 1, 2024

By Y Mita, T Iwama, R Inoue, S Ueda

In the iron and steel manufacturing industries, efforts are being made to achieve carbon neutrality by 2050, and the transition from a coal-based steelmaking process to that utilising renewable energy is being pursued. An alternative process in which directly hydrogen-reduced iron is melted in an electric furnace is being investigated. It is known that foaming slag reduces heat loss from the steel bath in electric arc furnace, but iron loss due to the suspension of steel particles in the slag is indispensable. To improve the separation of steel particles from the slag, the control of the slag viscosity is important. Although the slag viscosity has been extensively studied, in those studies the slag was considered to be a simple liquid. However, in actual operations, slag is a multiphase fluid consisting of solid, gas and liquid phases. Therefore, in this study, by measuring the sedimentation velocity of titanium, stainless steel and glass spheres in an aqueous glycerin solution containing bubbles generated by the reaction between NaHCO3 and C2H2O4, the apparent viscosity of the gas-liquid fluid was evaluated based on Stoke’s law. It was found that the apparent viscosity of the gas-liquid fluid is larger than the viscosity of liquid phase and depends on both the bubble volume ratio in solution and the density of the falling solid sphere, and the apparent viscosity was different from that previously obtained by the rotation method. The apparent viscosity derived from the sedimentation velocity of solid spheres changed depending on the specific gravity of the ball. This is because the apparent viscosity is derived from the velocity of a ball falling in a static bubble in this method, whereas that is derived from the force applied by a stationary flow in the rotational method.

Aug 21, 2024

By G R. Hancock, D Verdon-Kidd, M J. Saynor, J B. C Lowry, T J. Coulthard

The ability to simulate the stability of post-mining landscapes over time scales ranging from decades to millennia is a critical element in the assessment of closure designs for uranium mines. Landscape Evolution Modelling (LEM) technologies provide a means to simulate and assess the long-term geomorphic stability of a conceptual rehabilitated landform for periods of thousands of years. However, a major issue with simulations derived from long-term modelling are the limitations associated with the data inputs. Specifically, simulations which utilise historic rainfall data only represent the variability of rainfall events that have occurred over a relatively short period. Consequently, these simulations run the risk of not accounting for the full range of rainfall variability that might be expected over an extended period of up to 10 000 years. Therefore, for this study a probabilistic approach was adopted to generate a stochastic synthetic rainfall data set to produce a series of unique rainfall scenarios, each representing a simulated period of 100 years. Importantly, utilising such an approach allows uncertainty in predictions to be better accounted for and provides a range or probability of likely outcomes.In this study, the effect of ten individual rainfall scenarios are assessed in terms of their impact on the predicted erosion and denudations rates produced by the CAESAR-Lisflood LEM for a conceptual rehabilitated landform of the Ranger Uranium Mine (RUM) in the Northern Territory of Australia, focusing on the Corridor Creek catchment (Figure 1). While legislation requires this site to be erosionally stable for at least 10 000 years (Commonwealth of Australia, 1987), here the focus is on the first one hundred years of landscape evolution, as this is the period in which erosion is expected to be higher, with limited vegetation cover or pedogenic development in the initial decades after rehabilitation. It is also the period where the drainage pattern is set.CITATION:Lowry, J B C, Verdon-Kidd, D, Hancock, G R, Saynor, M J and Coulthard, T J, 2016. Application of synthetic rainfall data to long-term modelling of a rehabilitated landform, in Proceedings Life-of-Mine 2016 Conference , pp 75–79 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By S Kodate, Ö Aydan, Y Suda, J Tomiyama

Fracture zones are commonly found in the Earth’s crust. These zones may cause very severe engineering problems. Therefore, the formation and the assessment of the mechanical characteristics of these zones is of great concern for rock engineers. A new double shearing jig was used to study the formation of shear zones in rock under static and impact loading conditions using the device developed by the authors. A series of experiments were undertaken to investigate formation on the formation and characteristics of fracture zones in laboratory. Although actual fracture zones are more complicated, various tests give some insight view of the formation of fracture zones as well as some information on their mechanical behaviour under both dynamic conditions and static conditions. The authors report the outcomes of these experiments and discuss their implications in practice.

Nov 29, 2022

By J P. Moodie

Recent trends in flotation technology are briefly reviewed. These show that considerable development has been made as the operators, suppliers and technologists have responded to the challenges of the industry. Most of these advances have been based on empirical and phenomenological methods. There is a considerable opportunity to make further advances through a more fundamental, scientific approach. Some of this work is discussed and, although progress is being made on this front, industrial uptake has been somewhat slow. A number of specific issues facing the industry are discussed.

Jan 1, 2005

By S A. Prevec

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Traditional models employed to genetically link associated chromite and platinum-group elements have favoured crustal contamination as the primary process for inducing sulfide and oxide saturation. The association of chromite ores with crustal contamination is well established in the literature. However, in the 1970s (cf Irvine, 1973, 1975), Irvine demonstrated that crustal contamination was in fact problematic as a tool for inducing chromite precipitation in mafic to ultramafic magmas. His results are re-examined here, along with some attempts to reconcile them with the effects of adding Fe to the models. It is concluded that crustal contamination is indeed problematic based on phase relationships alone. However, the role of fluids as a compensating agent is evaluated, which may explain why crustal contamination may indeed facilitate oxide and sulfide precipitation.CITATION:Prevec, S A, 2015. Chromite and platinum-group elements coprecipitation by crustal contamination or magma mixing revisited – genetic and exploration implications, in Proceedings PACRIM 2015 Congress, pp 311–316 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

The Teutonic Bore deposit lies in a major greenstone belt within the Archaean Yilgarn craton of Western Australia. It occurs towards the base of a suite of tholeiitic basalts, some 100 m above a felsic volcanic pile of rhyolitic composition. Sediments comprise a minor, albeit important, percentage of the mine stratigraphy.The deposit consists of a single, steeply dipping lens of massive sulphides totalling 1.4 million tonnes grading 4.16 per cent Cu, 16.4 per cent Zn, 1.22 per cent Pb and 203 g/t Ag. In addition, cross cutting "stringer" mineralisation in the footwall contributes a further 0.75 million tonnes at 2.38 per cent Cu, 1.92 per cent Zn and 52 g/t Ag to the mining reserves. Principal primary sulphides in massive and disseminated mineralisation are sphalerite, pyrite, chalcopyrite and galena, while minor amounts of arsenopyrite and argentiferous tetrahedrite are also present. Weathering has affected the primary mineralogy down to at least 90 m, resulting in a strongly leached oxide profile to about 85 m, overlying a thin, erratic zone of chalcocite supergene enrichment.Lateral metal zoning is marked both in massive sulphide and stringer mineralisation, with Cu/Zn ratios decreasing away from the centre of the orebody. Alteration is well developed in association with footwall stringer mineralisation, changing from a central Fe-Mg carbonate, chlorite and silica alteration zone below the massive sulphides to an outer halo of sericitisation. The spatial distribution of these minerals is patchy. Geochemically, the footwall alteration zone is characterised by central Cao, Na20 and Sr depletion (with less regular enrichment of SiO2 , Fe and MgO), surrounded by a peripheral zone of K20 enrichment.Evidence supports a classic volcanic-exhalative origin, involving submarine discharge on the flanks of a rhyolitic dome and accumulation of the massive sulphides in a local palaeotopographic depression. The sulphides overlie their feeder zone as shown by alteration and stringer mineralisation. Tholeiitic wallrocks are thought to be genetically unrelated to the mineralising solutions, although their presence as a cap over the felsic volcanics may have permitted the build up of a circulating metalliferous brine system prior to sulphide deposition.

Jan 1, 1984

By J Sykes, W Treasure, A Saleem, A Trench, S Ulrich, R S. Davies

Below-ground technical complexity remains a traditional source of project challenge. Above-ground challenges then augment this complexity, including in the domain of commodity marketing. All challenges must be solved to produce quality, saleable, ex-mine product. The situation is further complicated in that technical complexities are not independent of each other, so complexity is best regarded as a system rather than a series of isolated factors. Additional above-ground challenges to mining projects are also increasingly sourced from societal and environmental factors, locally and globally. These challenges not only confer project complexity, but have their source in larger, global wicked problems. Finally, financing and resourcing of projects represents an ever-present challenge for all but the highest-quality mineral deposits. CITATION: Trench, A, Davies, R S, Saleem, A, Sykes, J, Treasure, W and Ulrich, S, 2018. On the sources of complexity in contemporary and future mining projects, in Proceedings Complex Orebodies Conference 2018, pp 65–66 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

By A Fern, A Hawkes, o

This presentation will cover: the importance of high-quality safety leadership; insights from a Safety Climate Survey that includes responses from 7903 employees working at 19 Australian mining organisations; the results of a critical control verification (CCV) coaching intervention; and recommendations for improving safety leadership in high-risk work settings. Safety climate is a representation of the deeper culture that exists in an organisation. Safety climate is predictive of behaviour, performance and reporting in organisations. Leaders play an important role in the establishment and maintenance of culture. Perceptions of safety climate were collected from 19 Australian mines (n = 7903 employees). These results indicate that the Australian mining sector is doing well in team support for safety and supervisor safety commitment. There were negative perceptions of willingness to report errors, employee involvement in safety initiatives, psychological safety and emergency readiness. Perceptions of safety leadership were in the fair range, with recognising behaviours perceived lowest, falling in the poor range. The underreporting rate was at 25 per cent indicating that 1 in 4 incidents are not being reported. Analyses exploring climate, leadership, safety behaviour and well-being will also be discussed. The integrity and success of critical risk management systems is often determined by the quality of safety leadership. Leaders need a mix of technical safety knowledge and interpersonal skills to be able to support the workforce to build critical control knowledge that invites open and collaborative discussions to find new or improved solutions. Forty leaders at a major mining operation completed training and 5-weeks of coaching focused on developing critical control verification competencies. The follow-up evaluation demonstrated significant improvements in relationship building, observation of controls and overall capability. Overall, insights from multi-organisation climate data and a prepost coaching intervention will be discussed and recommendations and practical guidance for leaders will be provided.

Apr 16, 2024

The United StatesÆ reporting standard for the mining industry for securities purposes is contained in the Security and Exchange CommissionÆs Industry Guide 7. It defines proven and probable Reserves using its own definitions, and prohibits the disclosure of quantitative estimates, for all mineralisation other than those two Reserve categories (though disclosure of Measured and Indicated Resources as quantitative mineralised material estimates is now informally allowed). Similarly, it restricts disclosure of value estimates to Reserves only, which SEC policy generally requires to be on an historic cost accounting basis. The SEC does not maintain a formal Competent or Qualified Person policy. In March 1999, the US-based Society of Mining, Metallurgy and Exploration (SME) released an update of its 1991 guidelines for definitions to be used in reporting of Mineral Resources, Reserves and Exploration Information, closely abiding by the 1997 CMMI recommendations. However, without SEC recognition, reporting under the SME and CMMI definitions is effectively barred for US companies. The SEC intends to adopt the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB). This will occur within just a few years, when the convergence project for development of the IFRS has reached a satisfactory point. The US is the largest financial supporter and participator in IASB. The Extractive Industries Standard of the IFRS will likely terminate Industry Guide 7. However, the effect of this international replacement will likely be equally restrictive. This could possibly neutralise the benefit of a CMMI-based global reporting standard. SME, the US society encompassing the widest range of mining industry professionals, does not have a Code of Ethics. It has no mechanism for requiring members to abide by a professional standard. SME is presently looking into possible solutions for this deficiency. US-based professional societies that do have a binding Code of Ethics, generally cater to a single profession, and are not just mining industry related. The American Institute of Professional Geologists (AIPG) and the American Institute of Minerals Appraisers (AIMA) are examples. The SME is considering creating a subsidiary body with an enforceable Code of Ethics. To support a CMMI-based global reporting standard, competent persons will need to work across international borders. A standardised mechanism for qualifying and registering competent persons will be needed. National rules and laws must allow competent persons to easily enter countries to perform their work. State issued licenses are increasingly required for much of the work performed in the US mining industry by engineers, geologists and minerals appraisers (valuers). Such licenses are not required by the SEC for Reserve reporting in the US, may not be required for valuation of mineral properties under certain circumstances, and except for real property valuer licenses, they generally do not have a binding code of conduct. However, state licensing of professionals forms a substantial and increasing barrier to interstate trade in professional services, and can be a prohibitive barrier to professionals from outside the US. Any rationalisation of this confusing patchwork of regulations confronting US minerals industry practitioners will only occur as part of larger, national change, hopefully aimed at compliance with international standards and protocols. The US does not have a valuation standard aimed specifically at the mining industry. The Uniform Standards of Professional Appraisal Practice, the national valuation standards, often must be applied to mineral property valuation, but contains no specific instructions for minerals. The author has campaigned against development of minerals valuation standards proposed by US minerals institutes. Instead he encourages the mining industry worldwide to place its support behind the initiative of the International Valuation Standards Committee (IVSC) to include an extractive industries section in its International Valuation Standards (IVS). This should provide a global set of valuation standards for the mining and petroleum industry within two years. This addition to IVS will provide essential valuation standards reference support for the extractive industries financial reporting standard of the International Accounting Standards Board. The IVS has achieved a high level of acceptance in the developed and lesser developed countries of the world. It provides a comprehensive framework of Generally Accepted Valuation Principles for the valuation profession internationally, for valuation of all property or asset types. IVSC is effectively a sister organisation to IASB. The IASBÆs International Financial Reporting Standards (IFRS), previously known as the International Accounting Standards (IAS), reference and quote IVS in some instructions for determination of fair value. IVSC is a non-governmental organisation (NGO) member of the United Nations and maintains liaison with many important international economic, accounting and financial agencies, such as the OECD, IMF and WTO.

Jan 1, 2002