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By S. Duvah Pentiah

The transformation of an open pit coal mine to a horizontal-punch underground mine is subject to a number of challenges. These include scheduling the operation of various sizes of trucks over a long period, as well as updating delivery routes and dump site locations as the mine transformation progresses. In this process, rock is excavated from a quarry through earthworks. The bulk earthwork and quarry material delivery were initially drawn from traditional planning and experienced issues in their early phases. As a result, a traffic simulator was developed in order to validate schedules and predict achievable throughput, likely delays or blockages in the long term. The dynamic traffic simulator was also used to provide traffic density and vehicle arrival data at selected intersections in order to identify possible safety and efficiency issues.

Aug 1, 2013

By Leroy C. Stewart

Owing mainly to the use of ethylene dibromide in the production of tetraethyl lead for gasoline treatment, there has been a tremendous increase during the past decade in the demand for bromine. In the United States, production, derived mainly as a by-product from the treatment of brines from salt wells, rose steadily from about two million pounds in 1924 to nine million pounds in 1931. In 1936, production amounted to between 20 and 21 million pounds. Much of the increase during the past four or five years has been due to the operation of the Ethyl-Dow Chemical Company's plant, which extracts bromine directly from sea water. The process employed by the Ethyl-Dow Company is somewhat similar to that in use on salt-well brines at their plant at Midland, Michigan, but whereas these brines contain around 1,300 parts per million bromine, sea water contains only 65 to 70 p.p.m.-about as much as the waste effluent in the brine process. By intensive research, however, a process was developed whereby a very considerable percentage of the bromine content of sea water could be recovered, and at a satisfactory operating cost. In its essentials, the process consists in liberating the bromine from the sea water by treat-ment with chlorine, blowing the bromine out of the water by a current of air, and finally absorbing it in a solution of soda-ash.

Jan 1, 1938

By L. M. Pidgeon

"Part I. - PrinciplesIntroductionIf the oxides of the metals are listed in decreasing order of the magnitude of their heats of formation, the list appearing in Table 1 will be formed. It will be apparent at once that this is essentially the well-known electrochemical series (Table li). The metals at the bottom of the list exhibit great stability and are attacked only by the most violent of chemical reagents. Higher on the list, the metals become more reactive until, at the head of the list, the metals lithium and calcium are unstable in moist air.The reactive metals to be considered lie above manganese. In this group will be found familiar and abundant metals such as aluminium and magnesium, the unfamiliar yet abundant metal titanium, the rare and mysterious metal beryllium, and others of greater or less interest.While these metals exhibit properties as unlike as those of uranium and magnesium, they have in common a specialized and difficult extractive metallurgy. They form compounds of great stability, and their reduction is to varying degrees difficult. The position of a metal in Table 1 (and more particu1arly its position in the free energy column) gives a numerical value to this property.Oxides with low free energies of formation may be reduced with great ease; thus silver and mercury may be produced from their oxides by simple heating in air.Lead, iron, and zinc may be separated from their oxides by heating with carbon to moderate temperatures. Magnesium oxide, on the other hand, .requires a high temperature and very special conditions before it will yield magnesium metal."

Jan 1, 1950

By Richard Dawson

Increasing global demand for coking coal has initiated several new coal mine developments in northeast BC. These developments are able to take advantage of the currently under utilized infrastructure that was put in place during the 1970?s and 1980?s for the Quintette and Bullmoose coal mines; which includes the Town of Tumbler Ridge, a 1,000km rail line to the coal terminal at Prince Rupert and a road system providing highway access to the town site. Coal within the two foothills regions of BC (north-east and south-east) is mined by open pit truck/shovel methods. Optimized mine plans require a thorough understanding of Rocky Mountain structural geology, attention for access in steep terrain, and a related understanding of the geotechnical conditions that control the stability of pit slopes and waste dumps. Thus there is a requirement to properly integrate mine planning with geotechnical engineering considerations. Many of the technical issues are well understood from experience during the past 30 years of Western Canadian coal mining. The challenge is to ensure that the mine plans are able to take full advantage of these lessons learned. The paper will focus on mine planning and geotechnical design issues to do with high angle-of-repose waste dumps and steeply bedded footwall slopes to illustrate the advantage of properly recognizing the important stability control issues during the early stages of engineering evaluations. Case histories from the existing and planned coal mining operations will be presented.

May 1, 2006

By C. Cristonffanini, S. Nazari

"In the past, simulation was considered to be an offline tool disconnected from plant operation. Advancements in the computation power combined with utilizing physics and chemistry sciences have allowed us to significantly improve the modeling and simulation technology for mining and mineral processing. This paper investigates the benefits of first principle models and simulation by connecting them to real time operation. Process data are connected to high fidelity models executed in parallel to the operation. In recent literature, this concept is known as Digital Twins. The Digital Twin is used for various purposes such as optimization, virtual instrumentation and condition monitoring. Using IDEAS™ simulation software we are able to construct a digital twin for different equipment inside a mineral processing plant. Two case studies for building a digital twin for the primary hydrocyclone feed pump and thickener underflow are presented. Using the pump’s model, a digital twin is developed and is installed in a gold extraction plant that is able to infer the slurry density in real time. Additionally, it is used for detecting sanding in the pipes and impeller condition monitoring.INTRODUCTION Since the eighties, thanks to advances in computation technologies, computer based simulation of processes using first principle models has become a well-known engineering tool for various industries. As our understanding of processes has increased, their representative models have become more realistic and more sophisticated. Due to this increase of accuracy, use of simulation is becoming more fundamental in process industries. The main goals to use accurate simulation is to decrease the engineering and construction cost, optimize the process design and improve the operation performance by decreasing operation cost and increasing efficiency. The term Digital Twin was first introduced in 2010 by NASA (Shafto et al., 2012) in aerospace industry. Subsequently, the concept quickly spread through other industries. As of today, no standard organization has provided an official and unique definition of Digital Twin for process industries. However, there are three important aspects that are common throughout various descriptions. When simulation is core functionality of the process (1) along the entire life cycle of the plant (2) with direct linkage to operation (3), it is called that process has a Digital Twin. According to Gartner, the concept of Digital Twin has elected as fourth most important disruptive technology for the year 2018 (https://www.gartner.com/, 2017)."

Jan 1, 2019

By J. J. Denny

IN November, 1932, an investigation of silicosis was undertaken at the Mcintyre Porcupine mine, Schumacher, Ont., after a discussion of the p"roblem with Sir Frederick Banting and his staff. As a result, it was decided to carry on dusting experiments with animals at the mine in a manner that would duplicate as far as possible actual industrial conditions. At that time 50 guinea pigs were placed in the crusher house tunnel of the mill where a considerable quantity of fine dust, containing approximately 35 per cent of free silica, was being constantly produced. These animals lived in this atmosphere for periods up to one year, and, while on autopsy large amounts of dust were found in the lungs, not a single case of silicosis had developed. These negative results suggested, among other things, that the mine gases might be a predisposing factor in the production of silicosis, and the results of this investigation (1) led us to undertake the study of the hydrogen-ion concentration of the condensate of the atmosphere, both in the mine and in various sections of the mill. The CO, combining power of blood serum on a series of 400 miners was also studied at this time. While these results were inconclusive, the variation in the hydrogen-ion concentration of the condensate between the surface and underground atmospheres encouraged us to investigate the effect of neutral, weak acid, and alkaline solutions on the solubility of siliceous materials. Gye and Purdy (2) were the first to point out that the chemical reaction, and not the physical presence of siliceous material, was responsible for the production of the fibrosis in silicosis. This work was investigated by Gardner and Cummings (3), who showed that the tissue reaction to quartz was definitely proportional to the size of the particle. They found that 1-3 micron particles of quartz produced an acute proliferative fibrotic response, while the 10-12 micron particles produced only a foreign-body reaction up to a period of three years. It is accepted that the dangerous silica particles retained by the lung are under 5 microns in diameter.

Jan 1, 1937

By D. Weston

"IntroductionIn preserving this paper, the author would like to acknowledge the basic development work carried out by the Consolidated Mining & Smelting Company of Canada, without whose initiative the development of the Aerofoll mill would not have been possible. In particular, he would like to pay tribute to the late Mr. C. T. Oughtred, Superintendent of Concentration for Cominco, whose vision and research-mindedness was the chief contributing factor in the carrying alo.ng of the original development.He would like also to acknowledge the help and co-operation of the staff of the Mines Branch, Department of Mines and Technical Surveys, Ottawa, without which the finalization of the un.it and its application would have been many additional years in coming to industry; and the assistance and encouragement given so freely by Mr. C. W. Dowsett, Consulting Metallurgical Engineer, Ventures Limited, and Professor A. M. Gaudin, Massachusetts Institute of Technology."

Jan 1, 1950

By G. F. Round

In order to obtain values of angle of shearing resistance and initial resistance for McMurray oil sand for use in general design calculations, the shear strength of this oil sand was measured in a controlled strain type tester, modified so that the rate of deformation could be varied between 0.01725 and 0.1869 inches per minute. Effect of temperature was investigated by adapting the equipment to operate at both 71 ° and 185 °F. The data are reported in terms of angle of shearing resistance and initial resistance for varying rates of deformation, composition and temperature. While the main sets of results reported here were obtained at a bulk density range of 108.7- 109.5 lb. / cu. ft., some results were obtained at a bulk density range of 101-102 lb. / cu. ft. Analysis of varance tables have been drawn up from the results obtained from least squares correlations and significance tests applied. It was concluded that oil content and temperature were significant variables for the degree of shear strength developed by the oil sand; increase of oil content and decrease of temperature each cause an increase in shear strength. The bulk density range 108.7 to 109.5 lb./cu. ft. gave angles of shearing resistance from 30° to 40° and initial resistance values of 0.37 p.s.i. to 0.85 p.s.i. For the bulk density range 101 to 102 lb. / cu. ft., lower values of shear strength were obtained, indicating that compaction density was also of importance

Jan 1, 1960

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 T. Bhambhani, Mukund Vasudevan, Partha Patra, D. R. Nagaraj, P. Somasundaram

Selective Ni separation from ultramafic ores rich in serpentines has been a huge challenge in the mineral processing industry, and therefore highly inefficient. Analysis of the root causes of the challenges and consequent development of robust processing solutions were the main goals of the Cytec-Columbia. University-Vale Joint Development Program. In this context, the subject of this paper is limited to one of the key findings of this research program which is the influence of fibrous serpentines on grade-recovery characteristics. Specifically, the poor flotation behavior is characterized by an atypical reverse C-shaped grade-recovery curve.

Jan 1, 2011

By J. J. Baz-Dresch

"The Cannon Mine, a joint venture between Asamera Minerals (the operator) and Breakwater Resources, is located in the centre of Washington state at the eastern base of the Cascade Mountains. The mine complex is located three blocks south of the city limits of Wenatchee, part of an urban area with a total population of 47 000. The closest residence is 350 feet from the mine portal.The B-Neath zone is a narrow, high-grade, downward extension of the southern tail of the mine's main ore body, the B-North zone. It also underlies the northernmost portion of the B-West zone (Fig . I) . The ore is usually reasonably competent but completely surrounded by very weak rock consisting of shear zone and unsilicified sandstones and siltstones.The zone has maximum dimensions of 420 ft in thickness, 500 ft in length , and 200 ft in width . The economic reserves extend from the 70-ft elevation (elevation above sea level) to the 630-ft elevation and consist of about 1.3 million tons of geologic reserves (proven and probable) at an average grade of 0.33 ounces per ton.Acquisition and ExplorationInitial DiscoveryThe initial discovery of the B-Neath zone was made by Tenneco Minerals during July through September, 1984. Their 22-hole surface drilling program consisted of 18 200 ft of drilling. Tenneco Minerals had acquired the 91/2 acre lease from United Mining Corporation.Asamera Minerals subsequently purchased Tenneco's lease in July, 1985; Tenneco retained a royalty position which was later purchased by Echo Bay Mining.Follow-up drilling by Asamera Minerals consisted of both surface and underground drilling. Eight surface holes (7200 ft) were drilled commencing in December, 1985. Following evaluation of the geologic data, an access drift was driven on strike along the top of the ore zone on the 500 level. Diamond drilling from this platform consisted of 17 200 ft in 79 holes."

Jan 1, 1990

By J. B. Kwon

For improvement in the productivity of tall building projects, table formwork is one of the main methods that have been adopted for slab formwork. Because the table formwork method is an equipment-oriented construction method, the type of lifting equipment and method of operation considerably affects the productivity and cost of the table formwork. It is also important to make an equipment input plan for completing the table formwork within the time given, according to the structural construction cycle. For performing the table formwork, a tower crane or an independent lifting system, and shifting trolleys, are required. However, if an inefficient equipment input plan is made, exorbitant cost may be incurred. Therefore, the purpose of this study is to analyze the productivity of a table formwork, considering the type and number of lifting equipment and the number of trolleys inputted, and to suggest quantitative data for making a cost-efficient equipment input plan within the construction duration given. It is expected that the results of this research will be utilized as a basis for cost-efficient equipment input planning.

Aug 1, 2013

By W. L. Murphy

The Star Lake property, located 115 km northeast of La Ronge, Saskatchewan is underlain by metamorphosed andesitic tuffs and flows which have been intruded by the dioritic to granitic Star Lake Pluton. Gold mineralization on the Star Lake property was first discovered at Ru h Lake by E. Beveridge in 1959 and by M. and E. Hird in 1961. In 1960 E. Partridge discovered Kahn 18 and Kahn 28. In 1982 the SMDC-Starrex joint venture completed geophysical and geochemical urveys including magnetics, VLF, IP/Resistivity, vegetation, bulk till and oil sampling, followed by drill testing of pecific targets. To date the most ignificant depo it is the 21 Zone which contain drill indicated reserves of 230,000 tons grading 0.5 oz/ton Au . The 21 Zone con ists of quartz with 5-10% (locally > 30%) drusy pyrite, minor chalcopyrite and trace amounts of scheelite, chalcocite and arsenopyrite. The 21 Zone is enclosed by a 25-50 m wide band of mylonitized monzonite. The mylonite occurs in the central portion of a 300 m wide northeasterly trending zone of brittle deformation .

Jan 1, 1986

By M. J. King, D. A. Van den berg, R. Fukuzawa

"Mercury bearing ore bodies are often treated for the production of copper, lead, zinc, gold, and silver. The mercury deports either to tailings or is collected during various stages of the extraction process. This paper reviews the relationship between various mercury collection processes and the subsequent management of the mercury by-product or waste. It focuses on mercury removal sequestration including cementation, sulphide precipitation, bulk neutralization, and carbon adsorption. Long term mercury management strategies including third-party stabilization, stabilized mercury co-disposal, secure storage, and mercury recycle are also evaluated. INTRODUCTIONMercury is produced in North America as a by-product of non-ferrous metals processing and from recycling of products such as dental amalgam, fluorescent lamps, and thermometers. Its toxicity is recognized to have significant negative impacts on the environment and human health. As a result, many countries are adopting regulations limiting mercury use and its uncontrolled release.The European Union banned mercury exports in 2011 and the United States will do so in 2013. The export bans aim to prevent mercury use in developing countries for activities such as artisanal small scale gold mining. However, by-product mercury production from the non-ferrous metals industries continues.These factors contribute to an oversupply of mercury and the need to find suitable treatment methods for the long term management and storage of mercury and mercury bearing materials."

Jan 1, 2012

By Mike Fontaine

The success of a project is defined by meeting the financial performance objectives of the business case within a stipulated timeframe. Early in design, little information is normally available; the uncertainty introduces risk to the project outcome. Using a range of risk management tools and techniques, a project can be developed from front end loading phases 1 through 3 (FEL1–FEL3), and project implementation (FEL4) and then into operations with an optimized probability of success. For every project element, the risk management framework embodies: establishing a context; assessing risk (identify, analyze, and evaluate); and treating risk. Embedded within design activities, this process mitigates or eliminates risks. Monitoring and control, as well as extensive communication and consultation with stakeholders, is integral to the risk management process.

Jan 1, 2015

By A. R. Miller, R. A. Stanton, M. J. Male, G. R. Cluff

"The Dubawnt Group consists of continental sedimentary and volcanic rocks which fill structural depressions - Baker Lake Basin, Yathkyed Lake and Angikuni Lake subbasins- whose evolution was controlled by late Aphebian extension, between 1.9-1.8 Ga. Structurally controlled uranium mineralization having the signature U + Mo + Ag + Pb + Cu ± Zn is spatially related to (i) intersecting fault systems that record multiple movements, (ii) chemically reactive lithologies containing sulphide, chlorite or graphite/ carbonaceous matter in the Archean and Aphebian basement complex and as alkaline volcanics of the overlying Dubawnt Group and (iii) areas containing thick successions of basal Dubawnt Group red clastic sediments.The most significant uranium occurrence found to date is the Lac Cinquante deposit, which contains 14 million pounds U3O8 of drill-indicated reserves. Mineralization is hosted in Archean meta-volcanic and metasedimentary rocks of the Henik Group adjacent to the basal Dubawnt unconformity in the northeastern A ngikuni Lake subbasin and occurs as plunging pods in and peripheral to a fractured and brecciated tuffaceous meta-sediment- sulphide+ carbonaceous exhalite. This deposit exhibits many features typified by the classical vein deposit at Beaverlodge, northern Saskatchewan.Epigenetic stratabound U + Cu + Ag ± Mo mineralization, typified by the 74-1E prospect in the eastern Baker Lake Basin, is hosted in thermally altered Kazan redbeds adjacent to alkaline dykes.At the eastern end of the Baker Lake Basin, small prospects having an elemental signature U + Se + Cu + Ag +Au are interpreted as unconformity-related mineralization associated with the Helikian The/on Basin.The Dubawnt Group rocks of the Baker Lake Basin, subbasins and adjacent basement complex contain uranium mineralization of two eras- Late Aphebian and Helikian."

Jan 1, 1986

By Richard A. McIvor

"All mine shaft conveyances in Canada and most of the United States that are supported by a single hoist rope or attachment point and used for transporting persons are required by regulation to be equipped with safety catches and mechanisms. These safety mechanisms, commonly called safety dogs, are designed to stop and hold a free falling conveyance, with a full personnel load, in the event of a hoist rope or attachment component failure. The conveyance’s safety mechanism must be tested under dynamic conditions before it is used to transport personnel. This paper will discuss free-fall testing and it’s results on conveyance free-fall tests performed in the test tower at INCO Limited, Sudbury, Ontario.Topics covered will be free-fall tests on various wood types such as B.C. fir, Karri wood and Trusjoist MacMillan Limited Parallamwood (PSL), comparison of deceleration rates versus free-fall velocity and the influence of safety dog tooth design on deceleration rates."

Jan 1, 1996

By J. G. Cullain

Inco Limited is an integrated mining, smelting, refining and manufacturing company with operations located worldwide. The Ontario Division operations consist of 13 mines and 10 processing facilities located in Sudbury, Port Colborne and Shebandowan. The scope of our utilization of energy in the Ontario Division in 1976 included in excess of 2.2 billion kilowatt hours of electric power, 12 billion cubic feet of natural gas, 60 million Imperial gallons of residual oil and smaller quantities of other fuels. In addition to the primary energy consumption, waste-heat energy is recovered in various operations throughout the Division, thereby reducing our primary energy requirements. Total expenditures for primary energy alone in 1976 exceeded 60 million dollars. Energy management studies were initiated by Inco's Utilities Department in late 1972, and resulted initially in a program of electric power cost reduction. This program produced significant results by improving the use of the water available for our hydraulic generation facilities and by a comprehensive peak reduction program. Our experience showed that a program of peak power control creates an awareness of both peak and energy costs, and thereby encourages a general reduction in the electric energy consumption as well as lowering the peak demand. Energy management is a continuing program at Inco and, recently, a formal energy management policy and program was instituted. Energy management committees were formed in each plant or mine area to identify the major areas for energy; consumption, thereby isolating areas with large potential energy losses, and determining immediate action which will improve the energy efficiency or reduce the energy waste within their respective areas. A decentralized program with good cross-communication between all committees was felt to be the best method of providing an on-going effective energy management program. In the future, the projections of dwindling fossil-fuel supplies in Canada and the resultant spiralling energy costs will further emphasize the need of sound energy management practices for all Canadian industry.

Jan 1, 1977

By C. H. Wright

Introduction The rapidly expanding and increasingly complex Canadian industrial structure, with the mining, metallurgical, and chemical industries as a large integral part, has, in recent years, brought greatly increased importance and value to our industrial minerals. In the modern economy of our mineral industry the importance which is due the non-metallics has been somewhat overshadowed by the great value of our large metal production and, in addition, by the glamour and fascination usually associated with the mining and treatment of gold ores. The term 'Industrial Mineral' is used in this paper in its usual sense and refers to non-metallics other than fuels. Coal and petroleum products, including natural gas, are considered as industrial minerals in those applications in which they are used for strictly chemical process purposes. Certain reduction metallurgical industries are so closely allied to chemical industries that for purposes been of this discussion no attempt has made to differentiate between them. Chemical industry in Canada today is a fairly large factor in our national economy, whereas in 1898, when the Canadian Mining Institute was born, it was very small indeed. Chemical concerns are largely dependent on industrial minerals for raw materials and process supplies and, as the country has developed industrially, so have the demands for non-metallics increased, not only by chemical industry but also by other large consumers, such as the construction and metallurgical industries. At the present time there is a greater than normal incentive prevailing for new discoveries, due to the serious lack of balance that exists in our import and export trade. This fact has resulted in intensive efforts to rectify the situation by locating new deposits and re-assessing those already known in an effort to enlarge and improve our home production of raw materials and also to extend their processing in Canada for our own needs and for export. The rapid advances in science and technology that have taken place since 1900 have also resulted in many cases of beneficiation and utilization of otherwise too low grade materials in order to satisfy current demands. The purpose of this paper is to indicate the history and the trends of the utilization of industrial minerals in established industry and to indicate the important part played by non-metallics in connection with the opening up of new industries. Some consideration has been given to the continual competition between natural and 'synthetic products and to the general tendency towards more rigid specifications.

Jan 1, 1948

By William E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential.INTRODUCTIONThe purpose of this paper is to describe a cost approach to the valuation of mineral exploration properties and to provide some valuation examples. The particular cost approach described is the Appraised Value Method, which is best applied to mineral properties at the exploration stage.At present there are no comprehensive regulations or guidelines in Canada which specify what approaches and methods to use for the valuation of mineral properties. In this paper, the Appraised Value Method described is one method that the writer considers to be accepted industry practice for mineral properties at the exploration stage.Mineral properties are valued for a number of reasons, including mergers and acquisitions, non arm's length transactions, pricing of initial public offering of stock, support for property agreements, litigation, expropriation, and insurance claims."

Jan 1, 2003