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By Richard P. Taylor, Rod Henham

Abstract - Newly discovered pegmatites distributed throughout the sub-surface environs of the Musselwhite Archean gold deposit occur as narrow dikes that intrude most of the major lithological units. The mineralogy and textures of the pegmatite dikes are characteristic of granitic pegmatites of the "Rare-Element Class"; more specifically, they closely resemble varieties of the "Complex-type" granitic pegmatites that are commonly associated with zones of tantalum mineralization. The essential minerals in the dikes comprise albite, quartz, and K-feldspar, together with lesser amounts of mica (including lepidolite), spessartine, tourmaline, and locally, spodumene. Fine-grained (30 µm to 300 µm), tantalum-bearing minerals occur in the quartzo-feldspathic matrix of the dikes as disseminations, in interstices, and in small vugs. The nature of the tantalum-bearing mineral assemblage present in individual pegmatite dikes varies from a simple mineral assemblage composed of ferrocolumbite (with around 39 wt% Ta2O5) in the most northerly dike, to more complex assemblages comprised of manganotantalite (with up to 75 wt% Ta2O5), ferrotapiolite (with up to 79 wt% Ta2O5), and microlite (with up to 76 wt% Ta2O5) that are present in dikes located several kilometers to the south and southwest. The compositional characteristics and textural relationships of the tantalum-bearing minerals in the dikes provide evidence of igneous fractionation trends that are typical of rare-element granitic pegmatites. Such trends suggest that the newly discovered pegmatites represent part of a more extensive group of cogenetic, tantalum-mineralized dikes.

Jan 1, 2001

By R. Bruce Graham

"For the purpose of this paper, the Chibougamau area is taken as lying between lats. 49°20’ and 50°10’ N;-longs. 73°45’ and 75°30’ W. It comprises an area of some 4,000 square miles and is centred 300 miles north of Montreal.The first recorded report of metal deposits in Chibougamau was that of James Richardson in 1870-71 (I). In 1903 discoveries of asbestos, copper, iron, and gold made by Peter McKenzie stimulated considerable activity in the district. By 1909 interest had become so marked that considerable pressure was brought to bear on the Quebec Government to build a rail-way into the region. It was finally decided to have an authoritative opinion on its economic possibilities, and the Chibougamau Commission was appointed for this purpose (2). They examined the district in 1910 and concluded that at that time a railway was not warranted. Nevertheless, the district continued to be prospected and from time to· time gold and copper discoveries were made. Thus the Merrill Island deposit was discovered in 1920, the Campbell Chibougamau Cedar Bay deposit in 1922, Obalski in 1928, Opemiska Copper in 1929, and Norbeau in 1930.Difficulty of transportation was a severe detriment to the development of the region. Consequently the Quebec Department of Mines completed a road into Chibougamau in 1949. Further activity was encouraged. The Chibougamau Explorers, Quebec Chibougamau Goldfields, and Kayrand deposits were found in 1950. ** The copper-siderite zones on Copper Cliff ground were found in 1952 and 1953. Opemiska Copper, Campbell Chibougamau Mines, and Chibougamau Explorers were encouraged to prepare for production following favourable exploration results."

Jan 1, 1949

By T. Junne, L. Eltrop, S. Moreno-Leiva, J. Haas, W. Kracht

The energy systems of the future will be highly renewable. The flexibility that is consequently required can be provided with many options, the main ones being energy storage, transmission reinforcement, and demand side management. The role of the latter is explored for the copper industry, using the scheduling of maintenance services as an example of Solar-Paced Design - the coupling of energy demand with solar resource availability. We used a linear energy optimization model to define the minimum-cost configuration for a fully renewable energy system of a copper concentration plant under different scenarios for the scheduling of maintenance services. For the case we studied, (total) costs were 4% lower when the maintenance was scheduled in winter. We expect that exploring the potential of such Solar-Paced Design in the copper industry will allow new potentials for a more cost-effective full renewable energy supply of this critical industry. INTRODUCTION The mitigation of climate change requires a worldwide transformation of the energy system by the significant expansion of renewable energies and the electrification of various sectors and processes (Teske et al., 2015)(International Energy Agency IEA, 2018). Moreover, considering the decreasing costs of renewable energy technologies and the intensive use required to deliver the goals in the Paris Agreement, we can expect to have highly renewable energy systems in the near future. However, to rebuild and expand our energy systems, we need certain materials, including copper. Also, energy systems based on renewables are more copper-intensive than conventional ones (Kleijn, van der Voet, Kramer, van Oers, & van der Giesen, 2011). The mineral industry, in turn, needs clean energy to achieve a better environmental performance (e.g. solar energy for copper production (Moreno-Leiva et al., 2017)) and to avoid negative secondary effects induced by the strong expansion of clean technologies. But there is something else the minerals industry can offer in this bi-directional relation with energy systems.

Jan 1, 2019

By D. W. Davis, P. Landais, L. J. Robb

Nodules of carbonaceous matter have been observed in several Archaean peraluminous granites adjoining the gold- and uranium-bearing Witwatersrand Basin. These nodules, which resemble solid bitumen, usually replace uraninite or uranothorite and are paragenetically late. They show many similarities to kerogen seams and nodules associated with the conglomerate horizons in the Witwatersrand Basin, including composition, maturation, intimate association with uraninite, and a late paragenesis. U-Pb isotope ratios for granite-hosted and Witwatersrand kerogens define a single, albeit somewhat diffuse, Ph-loss discordia suggesting an upper intercept age of circa 2300 Ma. Carbon isotope analysis indicates lighter Ol3C values for the granite-hosted nodules than for the sediment-hosted kerogen seams. Raman spectroscopy indicates that granite-hosted kerogen is more highly ordered than Witwatersrand seam kerogen. A model is presented which links the granitoidand sediment-hosted organic matter to an event of oil generation in the Witwatersrand Basin circa 2300 Ma ago. Light hydrocarbons migrated through the sediments and into underlying/adjacent granitic rocks, undergoing polymerization and accumulation in response to radiation accompanying the presence of high-uranium phases.

Jan 1, 1994

By M. A. EI Zeky, A. E. El-Nikbaily, M. A. Shahin

"Possible mechanisms of microsilica dust formation and factors affecting its quantity have been discussed. General mathematical models to predict the dust quantity based on electrical and coke consumptions, and flue gas temperature as functions of silicon recovery in the process and silicon content of the alloy have been established. It has also been shown that the flue gas temperature can be used as an additional process control parameter. Comments are made on the effect of the dust formation on the whole process economics and it is pointed out that the formed microsilica dust is a valuable by-product and not an industrial waste. INTRODUCTIONFerrosilicon is produced in electric arc furnaces with submerged electrodes. The charge mixture consist s mainly of quartzite, coke as the reducing agent and iron chips. The products are ferro silicon and carbon monoxide, various other volatile materials, water vapour and silicon monoxide gas. Carbon monoxide and silicon monoxide oxidize at the charge surface when mixed with air entering through the furnace hood openings. The off-gas contains a considerable amount of dust, which is mainly very fine particles of silica formed as a result of oxidation. The emission of dust containing gases to the atmosphere causes serious pollution problems to the environment. Therefore, the control of the formation of the dust, preventing it from escaping to the atmosphere, and dealing with this very fine dust collected from the flue gases represent important technological and economical parameters in the ferrosilicon production industry.This paper is concerned with the relations between the quantity of formed micro silica dust, as a function of both silicon recovery and silicon content in the alloy, and various other technological parameters; and their possible effects on the energy consumption and economics of the whole process."

Jan 1, 1989

By Robert B. Parsons

"It is generally acknowledged that Canadian and foreign-based mining companies are spending relatively fewer dollars in Canada and more dollars abroad than was the case not many years ago. It is common to see the Canadian tax system being fingered as one of the causes in this shift in direction. However, if one takes the time to peel away the surface of our tax system, and to probe a little deeper into its substance, it will be found that the Canadian taxation of mining is generally quite competitive. IntroductionCross-border shopping in the mining industry? - Absolutely! Economics 100 teaches that dollars are votes in the capitalist system, and mining companies are going to cast their limited number of votes where they can achieve the highest return at the least risk. The Canadian consumer knows that taxes are a major factor in cross-border shopping, and mining company executives know that the same tenet holds true in their industry. Unfortunately, mining operations are subject to such a bewildering array of tax rules that making an intelligent decision is not always an easy matter.Statutory Tax RatesConsider, for example, the ""statutory"" tax rates shown in Table 1. (Statutory tax rate in this table refers to the simple sum of federal and provincial tax rates on profits as specified in the tax legislation.) Looking only at the total statutory tax rates (such as 66070 for Manitoba) , one might quickly observe that the Canadian mining industry is subject to a truly onerous tax regime, especially as compared to the United States where statutory tax rates can be in the 34% range."

Jan 1, 1992

By J. H. Rickard, D. H. Watkinson

"Abstract - Detailed petrographic and quantitative (electron microprobe, SEM-EDS) mineralchemical analyses of sulfide ore from the 100 orebody at the Copper Cliff North mine, Copper Cliff, Ontario, reveal numerous stages of ore development. Sharp contacts between weakly mineralized quartz diorite and blebby to massive sulfides indicate multiple intrusive events within the Copper Cliff offset dike. A spatial association of sulfides and hydrous minerals, such as amphibole, biotite, chlorite and epidote, suggests that most primary ore has been affected by later hydrothermal fluids. Sulfides are often enclosed or bordered by these secondary silicate phases. The ore consists primarily of pyrrhotite, pentlandite, chalcopyrite, with trace michenerite, cobaltite/gersdorffite, irarsite, hessite, tsumoite, and bismuth tellurides.Geological and petrological comparison of the 100 orebody and the adjacent 900 and 890 orebodies has revealed distinct similarities in ore distribution. Data show that the 100 orebody is depleted in platinum-group elements (PGE) relative to the 900 orebody. Platinum-group elements from the 100 orebody may have been hydrothermally remobilized and partly emplaced in the 900 orebody, in adjacent veins, or in magmatic breccia. Analysis of Cu, Ni, and PGE assay data of ore samples has characterized their distribution among the eight different ore textures in the orebody. There is a strong association between Pt and interstitial sulfide, and to a lesser extent massive sulfide, but little correlation between chalcopyrite-rich ore and PGE in the 100 orebody, unlike many other deposits in the Sudbury region."

Jan 1, 2001

By R. W. Boyle, W. Dyck

"Scientists throughout the world have observed radioactive disequilibrium in the uranium decay series. Radiometric and fluorometric determinations of U in plants from the Goldfields district and in sediments and rocks from the Beaverlodge district exhibit marked radioactive disequilibrium. The eU/U ratio in plants rooted in mineralized ground shifts from greater than unity to less than unity for those rooted in background soils. A similar shift is observed in the transition from rocks to stream sediments and to lake sediments in the Beaverlodge district.Results of a Rn-Ra-U survey of lake bottoms in the Key Lake district show that anomalous hydromorphic U from U mineralization is parallelled by anomalous Rn, even though there is much less Ra in the lake-bottom sediments than one would expect from the amount of U present. IntroductionDisequilibrium in the U decay series has been studied for many years and is observed in almost all surficial environments. Rosholt (1959) measured U, 234Pa, 23O'fh, 226Ra, 222Rn, and 210Pb in a large number of U ores and outlined six types of situations to explain disequilibrium. Davy (1974) outlines the geological significance of radioactive disequilibrium situations with respect to exploration. Levinson and Coetzee (1978) discuss possible mechanisms by which separations of parent and daughter elements are affected and suggest analytical pitfalls that may be encountered in the use of radiometric techniques when disequilibrium has occurred. Generally, it is the oxyphile and easily complexed parent 238U (with its associated isotopes 235 U and 234U) that is leached from rocks and soils at a faster rate than are the daughters, 230Th, 226Ra, 2loPb, and 206Pb. This mobilized U is adsorbed on sediments in streams and lakes, or enters groundwaters, where it is eventually precipitated under reducing conditions, occasionally in oregrade concentrations. This surface leaching and"

Jan 1, 1980

By Michel Aubertin

Mining activities can produce large volumes of waste rock, which are typically deposited in piles on the soil surface, above the water table. Such piles can cover areas of several tens of hectares and can reach over a hundred meters in height. For hard rock mines, the waste rock grain size can vary from silty particles to metre-scale blocks. The internal structure of a pile constructed on a relatively flat surface typically includes two main zones. The first zone corresponds to the heart of the pile, and is formed by several sub-horizontal stratifications (with dense and loose layers) due to the heavy mine equipment traffic which induces local compaction and degradation of the waste rock. The second zone corresponds to regions where waste rocks are deposited by push-dumping or end-dumping close to the external flank of the pile, inducing grain size segregation along the slope. Depending on the deposition sequence, grain size distribution and bench height, a gradation may then be observed, with coarser particles (with cobbles and blocks) near the base and finer particles near the crest, together with inclined stratifications due to the advance of the deposition face. These internal features affect the distribution and flow of water (and air) in the pile. To assess the internal distribution of material properties within the pile, a combination of several tools is usually required which can provide information on the hydrogeological and geochemical characteristics of the waste rock. In this regard, geophysical tools are very interesting because they can lead to a threedimensional mapping of property variations. The information gathered from a combination of appropriately selected techniques can be used to construct numerical models to further study unsaturated water flow and reactive transport. Such simulations help better understand the pile response in its actual and future states, which in turn provides input to adjust the deposition sequence, to plan for closure, and to select an in situ groundwater monitoring strategy. The presentation will give an overview of techniques that have been developed to characterise material properties in the laboratory and in the field, and to obtain a general picture of a pile?s internal structure. Additional results on unsaturated reactive transport modelling will also be shown to illustrate how the internal pile structure may influence its hydro-geochemical and environmental response.

Nov 1, 2008

By H. J. Hartjens

"With the trend towards bringing into production ore bodies of lower and lower copper content every possible avenue of approach to achieve maximum copper metal recovery and keep milling costs to a minimum are of increasing importance.Equipment manufacturers have contributed a great deal by designing larger mills, flotation machines, pumps, etc. in lowering capital and operating costs; instrumentation and automation usually as a joint effort of operating staffs and equipment manufacturers have resulted in lower operating costs and improved metallurgy. Likewise manufacturers of chemicals used in mineral beneficiation have directed their research and development at new flotation reagents and treatment schemes to complement the needs for more efficient products, permitting coarser grinds without detriment to recovery, higher flotation rates, higher degrees of selectivity, as well as chemicals to improve settling, clarification and filtration. The various treatment schemes in use and suggested for consideration are:1) The choice of the flotation treatment scheme is largely dictated by the desire to operate a simple circuit, originally consisting of rougher and scavenger flotation, with scavenger concentrate either returning to the head of the rougher circuit or joining the rougher concentrate for cleaning by reflotation, with and without prior regrinding. The cleaner tailing was also recycled to the head of the rougher circuit. In the case of porphyry copper ores, this was originally the standard circuit. Lime is the preferred alkalinity regulator to adjust pH, usually in the range 10-12.To avoid the undesirable effects of circulating loads and gain the advantage of simplified control of the rougher circuit, open circuit cleaning is practiced more and more. In this scheme, cleaner tailing is scavenged to produce a discardable tailing and the scavenger concentrate returned either to the cleaner or the regrind circuit."

Jan 1, 1970

By P. A. Riveros

Antimony is commonly found in copper electrolytes and can contaminate the cathode deposit. Several methods, such as ion exchange, solvent extraction and precipitation, have been developed to remove antimony from copper electrolytes. However, past research has been carried out almost exclusively with Sb(III), whereas the presence and behavior of Sb(V) in the electrorefining circuit have been largely ignored. In this study, the behavior of Sb(V) species was monitored and compared to that of Sb(III) species, using specially developed analytical and SEM-EDS techniques. Significant differences in the behavior of the two species were noted. Although the solubility of Sb(III) increases with temperature in synthetic copper electrolytes, the solubility of Sb(V) appears to be constant over the range from 30 to 80°C. Whereas Sb(III) forms several crystalline oxy-sulphate compounds, Sb(V) appears to remain as an amorphous oxide. Both Sb(III) and Sb(V) are extracted by aminophosphonic resins, and Sb(III) is readily eluted by HC1 or complexing agents. By contrast, concentrated HC1 elutes Sb(V) inefficiently and complexing agents, such as EDTA and tartaric acid, do not elute Sb(V) to any significant extent. This observation implies that in industrial practice, unless special measures are taken, Sb(V) will accumulate on the resin, eventually impeding the ion exchange process.

Jan 1, 2007

By Y. Hou, E. Arinaitwe, L. Tong

A series of dense medium separation (DMS) tests were performed on four low-grade copper ores from Mount Polley mine in order to determine their amenability to pre-concentration. The tested ores contained disseminated sulphides, mostly chalcopyrite with low copper grades (0.15% - 0.2%) and relatively high iron grades (4.76% - 5.63%). The samples were screened into different size fractions ranging from 9.5 mm to 50.8 mm and DMS tests were performed on each size fraction at various separation densities. The pre-concentration efficiency at different size fractions and separation densities was evaluated in terms of metal upgrading and distribution. Mineralogical tests were also performed on selected DMS sink and float samples in order to understand the influence of mineralogy on the pre-concentration efficiency. The results showed that significant copper upgrading was achieved for intermediate size fractions only at the highest separation density tested. The copper recoveries generally increased with particle size at all separation densities. However, it was impossible to upgrade the copper content in the ores and achieve acceptable recoveries and mass rejections at the same time. Copper recoveries and grades showed a strong correlation with iron recoveries and grades indicating that it is possible to pre-concentrate copper by recovering magnetite and other iron-containing minerals in the ore. Overall, the results suggest that the optimum separation density and pre-concentration efficiency is a function of particle size, and that the ore mineralization properties limit the performance of DMS as a pre-concentration technology for such low-grade disseminated ores.

Jan 1, 2014

By L. V. Bell

"The gold deposits of the Caribou mine are representative of those of the Province of Nova Scotia as a whole. The ore shoots within the deposits, in common with those elsewhere within the Province, are associated usually with interruptions or irregularities in the broader and uniform fold structures. The structural factors localizing ore deposition as applied more specifically to the Caribou mine are demonstrated chiefly by the close relationship of the two principal ore shoots, known as the main orebody and the 'high-grade' vein, with a pitching drag fold developed in the southeast limb of the major northeast-southwest trending anticlinal fold or elongated dome that constitutes the primary structural feature of the Caribou gold district. It is of interest to note that the evidence indicates that this drag fold, in common with other folds subsidiary to the primary fold, formed as a result of movement similar in nature to that which caused the primary fold itself. Presumably, therefore, these folds are coincident in time.The property described here as the Caribou mine is an amalgamation of two adjacent properties formerly known as the Ross and the Nova Scotia Gold, but which since 1934 have been controlled and operated as a unit by The Consolidated Mining and Smelting Company of Canada, Limited. The Caribou mine is situated in the Caribou gold district about 45 miles to the northeast of the city of Halifax and about 6 miles to the north of the Moose River gold district.The history of mining at Caribou dates back to 1867. The first recorded gold production is for 1869. From 1869 to 1933 the gold produced from the mines of the Caribou district aggregated 47,249 oz. from 93,234 tons of ore treated. The grade of the ore on the basis of the gold actually recovered from the district would thus average 72 oz. gold a ton, which, as will be noted from the following, is precisely the grade of the ore treated from the Caribou mine during operations by The Consolidated Mining and Smelting Company. These operations commenced in September, 1934, and milling on a commercial basis was under way during 1938. Since that time production, apart from a short period in 1945 during which efforts were concentrated on development work, was continuous to early in 1947, when the mine closed down owing to exhaustion of the known orebodies. Gold produced from the Caribou mine by The Consolidated Mining and Smelting Company from September, 1934, to the close of 1946 aggregated 43,205 oz. from 90,754 tons of ore milled; the grade of ore treated averaged 0.50 oz. gold a ton. The indicated average grade of O.S oz. gold a ton for the ore of the Caribou district throughout its mining history ranks somewhat higher than the 0.37 oz. a ton average for the ore milled to date from the several gold districts throughout the Province as a whole according to the production statistics of the Provincial Department of Mines."

Jan 1, 1954

By K. D. Peaslee, J. M. Soto, IéDé Smith, A. D. Saikia

Spinel-forming refractories reduce penetration of metal and slags through a tightening of the lining resulting from the volume expansion associated with spinel formation. Sintered spinel is often added to reduce the overall volume increase that results. Tests were carried out to evaluate the difference between performance in spinel¬forming and spinel-containing refractory mixes. Eight refractory linings, one (1) pure magnesia, three (3) magnesia-base spinel-forming and four (4) alumina-base spinel- containing dry vibratable mixes, were tested for four hours in contact with a low-carbon, low-manganese steel in a coreless induction furnace at temperatures in excess of 1600°C. Afterwards, sample were cut, and wear and penetration were measured. For magnesia-based mixes wear was minimized using 20-30wt. spinel formation although further experiments are required to determine the optimal value. For alumina-based mixes, there seemed to be an optimal ratio of spinel added to spinel formed that minimized penetration and wear at the slag line. Sidewall accretion occurred and the accretion was the highest for the mix with the ratio of spinel formed to spinel added near the optimum value. Therefore to design an optimum refractory mix the benefits of higher ratios of spinel added to reduce penetration and wear at the slag line will need to be balanced with the tendency to form accretions on the sidewalls of the furnace.

Jan 1, 2004

Spatial information Critical to a project since it underpins: ?Discovery of mineral resources ?Orebodydefinition and technical assessment ?Mine design and planning ?Profitability and project value Data ?Single most import asset. ?Good interpretation of quality data underpins project growth and success. TEAMWORK

May 1, 2002

By A. J. Williams

"Whenever a decision is made to bring a mineral deposit into production, the Owner in actual fact has decided to convert substantial sums of capital into productive capacity with the intenti6n of making a profit from such conversion.Escalating costs of construction, frustrating and costly delays in comp1etion, the increasing tempo of technological change and the increasing size and complexity of mineral processing projects have convinced Owners that the best way of implementing their capital must be sought and utilized. This requirement has stimulated a search for ways and means of applying modern management techniques to the design and construction of mineral processing plants.This search by consulting firms has resulted in the evolution of the concept of project management and the development of planning and con trolling techniques with the result that Owners can seek and obtain better assurance that their project objectives will be fulfilled.This paper will attempt to outline how a mineral processing plant can be brought into production through the implementation of project management techniques.Definition And Objectives Of Project ManagementThe design and construction of mineral processing plants is subject to the restraints of three inter-related parameters -Quality, Cost and Time each of which influences and is influenced by the other two.Project management is a technique where the Owner delegates complete responsibility to a single organization for all phases of a project (design, procurement, construction and commissioning) for the above parameters but retains freedom for major decision making. Normally, the consultant under-takes full responsibility for all phases, but partial project management services can be provided when the Owner so desires.The objective of project management is first to devise and define and then to implement a program in which the relationship between the three parameters of Quality, Cost and Time is optimized, i.e., the desired functional and other requirements are attained (but not exceeded) at the lowest practicable overall cost in the shortest practicable time. The measure of success of a project lies in the degree to which this objective is achieved."

Jan 1, 1974

By W. R. Middagh, R. M. Garvey

"Phosphate rock is shipped by boat from Florida to Vancouver, B.C., where it is unloaded and stored in a 50,000-ton silo. It is shipped from Vancouver in 100-ton hopper cars in 80-car trains to Fort Saskatchewan. Both the ship and the hopper cars are on a back-haul with potash. The rock cars are unloaded at Fort Saskatchewan at a rate of approximately 4 cars per hour. The rock is stored in three concrete silos, 40 ft in diameter by 110 ft high, which hold 18,000 tons of recoverable rock with 2,000 tons dead space. The rock is reclaimed from the silos by gravity and fed to the phosphoric acid plant by remotely operated conveying equipment.Problems encountered in the operation include scheduling the rock shipments, contamination of the rock with potash, and handling the 80-car trains both in Vancouver and Fort Saskatchewan."

Jan 1, 1968

By Brian Hall

For some years, the mining industry has been consistently delivering returns below the market average. One of the causes is a disconnect between what is perceived to drive value creation by many industry analysts and senior corporate executives, and what actually drives the intrinsic value of mining operations. The perverse effect is that strategies that should increase value are perceived to have the potential to drive share prices down, and vice versa. This paper challenges common perceptions of what drives a mining company?s value. Anecdotal evidence suggests that the key drivers of value in the market, and hence in many boardrooms, are such things as increasing the reserves and production rate, and reducing unit operating cost. However, while the quoted reserves may satisfy ore reserves reporting code requirements to be economic, this does not imply that they are optimal. Often, a proportion of the quoted reserve reduces the potential value of the operation. Metal price increases, increased production rates, and operating cost reductions are all seen as conditions or actions that can improve value, and lead to cutoff grade reductions, thereby increasing ore reserves. However, modern cutoff theory and studies conducted by the author and his colleagues show clearly that, while breakeven cutoff grades will fall in these circumstances, optimum cutoffs may be much less volatile, and may even increase. Results from case studies indicate that value is maximised by right-sizing, not maximising, the production capacities, and by optimising the cutoff strategy. Values of many existing underground mining operations can be increased significantly by a substantial cutoff grade increase. Also, an increase in downside risk, and hence reduced returns, can occur using typical life-of-mine planning strategies if prices received are lower than predicted. Since this is often the case, low industry returns may be a direct result of typical strategic mine planning processes. Relatively simple cost-effective techniques are available to provide senior decision makers with information needed to assess the tradeoffs between their many conflicting corporate goals, and the balance between risk and reward. Often this information is not being generated at all. If it is, decisions affecting the value of the company are occurring by default at relatively low levels within the hierarchy, with senior executives apparently unaware of them or their potential impact. The paper concludes that without a re-evaluation of the way mining projects are valued, to demand proven value optimisation from mining plans by boards and mining analysts, the industry will continue to deliver below average returns.

May 1, 2003

"The last thirty years have seen enormous changes in all aspects of the gold industry, from the technologies of mining and extracting gold to the role it has played in the fiscal policies of nations. In this time, the market price of gold has increased ten fold and mine production has more than doubled. However, the cost of mining and extracting gold has also increased exponentially, and the industry has struggled with declining ore grades and increasingly refractory ore bodies.With the major economic powers of the world shrugging off the uncertainties of the post cold war era and moving into a period of unprecedented political stability, economic growth and low inflation, gold is also losing its lustre as a hedge against inflation and a backing for national currencies. Consequently, countries that had accumulated and hoarded gold for decades are now disposing of these non-performing assets, resulting in major swings in supply of the metal. Fortunately, this has coincided with the end of communism in many parts of the world and a tentative move to free market economies in most of the developing nations. As a result, people are becoming wealthier, and this is creating more demand for gold, principally in the form of jewelry.On balance, the shift in the role of gold, from one in which a significant portion of new gold production lay dormant in bank vaults as insurance against political or fiscal instability, to one in which most new gold is now freely traded as an industrial commodity, responding to normal market forces of supply and demand, has had a negative impact on the price of gold over the last fifteen years. In that time, the gold price has declined from a peak of $850/oz in 1980 to an average price of about $400 through the rest of the l 980's, to a price of -$320/oz today (1997). In large measure, this has been due to the enormous inventory of gold metal that was held by central government banks in vaults around the world, and which has been dumped on the market as soon as the price has started to trend upwards. Even today, after ten years of fairly steady selling by central banks, about 3 0, 000 tons of gold (or -8 years' supply at the present rate of consumption) is still retained in vaults (Murray et al., 1997).The downward pressure on the price of gold has created exciting opportunities for the development and implementation of new technology. Increasing the efficiency of gold recovery from more and more refractory ore bodies, whilst at the same time lowering production costs, have become critical to survival in this industry. These challenges have been met by the development and implementation of new technologies such as heap leaching, carbon in pulp, resin in pulp and the sulphide ore pre-treatment process of pressure leaching, bacterial leaching and fluid bed roasting. For an industry that saw very little technological change in the first seventy years of the twentieth century, the pace of change over the last thirty years must have seemed bewildering at times."

Jan 1, 1998

By A. M. Bell

"Hallnor mine is in the township of Whitney, Porcupine district. To date, its production of gold has been second largest in the east Porcupine field. Ore was discovered in the property in 1936 by diamond drilling in overburdened country. This drilling was undertaken by Noranda Mines following the discovery of ore in conglomerate at Pamour 1 mile to the east.Milling commenced at the Hallnor in June 1938, and to the end of 1945 432,000 oz. gold had been produced from 889,000 tons of ore, giving an average recovery of 0.49 oz. a ton.The West mine of Pamour, the Broulan orebody, and the veins on the Hallnor and Bonetal are all parts of a mile long vein system that has been separated into three sections by cross faulting. In consequence, they could well have been described in one paper. In treating them individually the viewpoint obtained from each may lead to conflicting opinions, and any conclusions advanced in this paper on the general structure should be modified by the conclusions advanced in papers on the neighbouring properties.GENERAL GEOLOGYRock FormationsThe Hallnor orebodies occur within 400 feet of the contact between lavas and sediments, and may lie in either lavas or sediments. The lavas near the ore consist of flows of pillowed andesite and one flow of more acid and less sheared and chloritized lava locally named trachyte. These flows strike east-west and dip steeply. At the surface on the east side of the property the volcanics have been intensely altered to a massive carbonate rock having a north-south thickness in excess of 1,000 feet . This carbonate body extends west across the property with a plunge of 45° (Fig. 1)."

Jan 1, 1954