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By H. R. Bullis

"A 2003 paper discussed the idea that as gold mining companies grow larger it becomes more difficult for them to discover or acquire new gold deposits large enough to replace extracted reserves on an annual basis. Deposits of the size required to replace annual production of very large gold producers (VLGPs) are statistically few. An update in 2005 reviewed VLGPs with respect to production, reserves, and reserve life and observed recent changes in the gold mining industry. Now, more than 12 years later, this paper explores how those VLGPs have fared and how the gold mining industry has changed. KEYWORDS Gold, Gold price, Production, Reserves, Very large gold producer (VLGP) RÉSUMÉ Un article de 2003 examinait le concept selon lequel, à mesure que les sociétés d’exploitation aurifère se développent, il leur devient de plus en plus difficile de découvrir ou d’acquérir de nouveaux gisements aurifères suffisamment grands pour remplacer les réserves qu’elles extraient annuellement. Statistiquement, il existe très peu de gisements de la taille requise pour remplacer la production annuelle des très gros producteurs d’or. Une mise à jour de l’article en 2005 se penchait sur la production, les réserves et la durée de vie des réserves des très gros producteurs d’or ; elle portait sur les récents chan¬gements au sein de l’industrie de l’exploitation aurifère. Aujourd’hui, plus de 12 années plus tard, cet article explore l’évolution et les résultats de ces très gros producteurs d’or, ainsi que les changements qu’a connu l’industrie de l’exploitation aurifère. MOTS CLÉS or, prix de l’or, production, réserves, très gros producteurs d’orINTRODUCTION In 2005, the world’s top five gold producing companies were Barrick (after purchasing Placer Dome; 9.1 million ounces; Barrick Gold Corporation, 2005; Placer Dome, 2005), Newmont (8.2 million ounces; Newmont Mining Corporation, 2005), AngloGold Ashanti (6.2 million ounces; AngloGold Ashanti Limited, 2005), Gold Fields (4.2 million ounces; Gold Fields Limited, 2005), and Harmony Gold (3.0 million ounces; Harmony Gold Mining Company Limited, 2005). During the years leading up to that point, there had been a flurry of activity in the gold sector directed at consolidating production and reserves to create very large gold producers (VLGPs). As defined in Bullis (2005), a VLGP is a mining company whose primary busi¬ness is gold production and that has annual gold production more than 5 million ounces. A stated corporate goal of several of the VLGPs at the time was to become the largest gold producing company in the world."

Jan 1, 2019

By David Scott, Denis V. Lachance, Daniel Marcotie

"LocationThe Heath Steele mine is located 50 km northwest of Miramichi, New Brunswick.Brief DescriptionHeath Steele is a 2700 t/d, copper-lead-zinc operation which employs conventional crushing, grinding, and differential flotation.HistoryThe Heath Steele mine is located in northeastern New Brunswick approximately 50 km northwest of the city of Miramichi and 65 km southwest of Bathurst. The massive sulphides containing ore values in zinc, lead, copper and silver were discovered in 1953 as a result of a joint venture between the American Metal Company and the International Nickel Company of Canada. The discovery was named after Mr. Heath Steele, manager of exploration for Amco at the time of the discovery.Mill production began in February 1957; however, the mine was forced to shutdown in 1958 due to depressed metal prices and metallurgical problems. It was re-opened in 1962 and milling operations resumed at 725 t/d until 1968 when the milling capacity was boosted to 1450 t/d and then to 2700 t/d in 1969.OreThe main ore zones are massive sulphides with very fine mineral grain. The chalcopyrite, galena and marmatitesphalerite occurrences are finely disseminated.Liberation is accomplished by grinding to 68% to 72% <400 mesh. Average mill feed assays are 0.8% to 1.2% copper, 1.8% to 2.5% lead, and 5.5% to 6.5% zinc, with 60 to 75 g/t silver."

Jan 1, 2000

By Dean S. Rogers

"In February 1980, Dome Mines Limited announced a $50 million expansion program which would result in a 50% increase in mill capacity from the present 1,815 tonnes per day to an eventual production rate of 2, 720 tonnes per day in the year 1984. As an integral and necessary part of this planned expansion, a new vertical production shaft, No. 8 Shaft, would be sunk from surface to a depth of 1,645 metres.Throughout the seventy-year history of mining at the Dome, gold has been found in a number of different rock types and in association with a number of different structural settings. However, the key to successfully locating ore deposits lies in the recognition of the favourable environments in which they generally occur. First and foremost, the exercise of locating the No. 8 shaft became an exercise in geological deduction based on the projection of these favourable lithologic environments.In November 1980, after detailed engineering work was completed, the total cost of the project was estimated at $75.5 million 1980 dollars or $91 million dollars allowing for inflation over a four-year construction period. These estimates include the shaft, significant replacement and alterations to the milling process, and an upgrading of the plant."

Jan 1, 1982

By W. A. Gow, J. A. Vezina

"A new process for treating scheelite for the production of tungstic tri-oxide is described. The novelty of the process resides in that an ion-ex-changer is used to convert sodium tungstate to either ammonium tung-state or tungstic acid.The process consists of a conventional hydrochloric acid leach of the scheelite concentrate, and the dissolution of the impure tungstic acid thus produced with sodium hydroxide at pH 8. The sodium tungstate solution is clarified and passed through a column of Dowex 50Wx8 ion-ex-change resin to exchange the sodium ions for either hydrogen or ammonium ions, both being suitable. The tungsten-bearing column effluent is evaporated to crystallize the tungsten as ammonium tungstate; the crystals are washed with nitric acid and water and decomposed by heat to pro-duce tungstic trioxide of high purity.Ninety-six per cent of the tungsten in the concentrate may be re-covered as tungs tic trioxide (W03), and the reagents consumed are 0.7 g HCl, 0.41 g NaOH and either 1.73 g NH.Cl or 225 g HCl per gram of tungsten."

Jan 1, 1966

By Jin Liu, Torstein A. Utigard

At its Copper Cliff Smelter, Vale Inco Limited processes a bulk copper-nickel concentrate in two Inco oxygen flash furnaces. Coke supplies a minor proportion of the process heat requirements, limiting the flash furnace matte grade to the target 45% CuNiCo. Coke addition to the furnace offers a potential means of establishing a reducing barrier on the surface of the molten bath. Such a practice would be conducive to producing sulfur deficient (partially metallized) matte. At the same iron content, the iron activity of sulfur deficient matte is higher than that of regular matte. A supernatant coke barrier could, therefore, be expected to lead to higher nickel and cobalt recoveries, reduction or even elimination of magnetite furnace bottom build-up and increased sulfur elimination as SO2 in the flash furnace. Extensive experiments were conducted in a miniplant flash furnace to investigate the effect on process metallurgy of the suggested modified scheme. The introduction and description of the experimental set up were given in Part 1 of this paper and an early paper published in Yazawa symposium1 together with the results and some in depth discussion on metallurgy. This paper intends to discuss the kinetics of the miniplant flash furnace testwork.

Jan 1, 2015

By D. L. Cluff

Ventilation Air Methane (VAM) is a high volume low concentration methane source. The capture or use of methane from VAM is challenging, which results in the routine discharge of methane into the atmosphere. Mitigating VAM has the benefits of providing an energy source and reducing the atmospheric Greenhouse Gas (GHG) burden. The GHG radiative forcing effect of methane is 17?23 times as potent as carbon dioxide on a 100-year time horizon. Thus, any reduction in atmospheric methane would be beneficial. The calorific value of methane is 55.5 MJ/Kg; therefore, a 100 m3/s flow with VAM concentrations from 0.1?1% can provide 3.8?38 MW of exploitable power. Strategies to mitigate VAM such as: Thermal Flow Reverse Reactors (TFRR), Catalytic Flow Reverse Reactors (CFRR), Lean Burn and Catalytic Gas Turbines, Biothermica Vamox®, Megtec VOCSIDIZER©, and Vamcat? are briefly reviewed. The review of VAM mitigation technologies reveals disadvantages such as the need to maintain a minimum internal heat capable of oxidizing the methane. This requirement uses all of the available methane up to the point of reaction sustainability and up to half at the highest methane concentration in VAM. Some systems may introduce a pressure drop to the ventilation system, which would impinge on the existing ventilation system design. These impediments necessitate the development of a more amenable technology. In the proposed system, gas turbines (GT), coupled to a combustion chamber with an external fuel supply, assist the combustion of the VAM. The combustion-chamber coupled system provides electricity, while the heat contained in the GT exhaust gases increases the temperature of the VAM, encouraging the development of a flame inside a combustion chamber. The flow from the combustion chamber streams through a primary air/fluid heat exchanger capable of producing steam of a high enough quality to generate electricity using conventional steam turbines. The residual heat after primary extraction, directed through other equipment, provides additional heat based products such as industrial scale dry air, chilling by an absorption chiller or hot water. The overall design of the system is scalable for low to high VAM flows or variations in concentrations and is capable of providing the company or community with heating, chilling, hot water, electricity or motive force as needed by the particular site or community. The Multi-generation system uses heat from three sources to provide clean efficient energy while mitigating the atmospheric emissions of methane. These sources are heat from the GT, often considered waste heat, heat from fuel injected into the igniters and heat from the VAM. The opportunity to collect carbon credits may improve the economics. In order to design a system with this capacity, a detailed analysis of the combustion characteristics of three separate flows is required. VAM is the main airflow, having the highest volumetric effect, while the GT exhaust and the additional fuel added to the hot exhaust flow of the gas turbine are lower flows, but have a higher velocity and temperature. The aim of the modeling undertaken in this work is to establish the combustion dynamics, degree of pre-heating required and the geometry essential to the design of combustion based VAM mitigation multi-generation systems.

Aug 1, 2013

By A. Poitras

The Cummings Complex consists of three superposed sills, exhibiting a differentiation pattern: the lowest sill being the most basic and the highest sill, the most acid. Each sill is also characterized by an internal petrographic and geochemical variation which is evidence of differentiation due to fractional crystallization. The REE concentrations in the different units of the complex indicates that the three sills are comagmatic. The interpretation of these results permits the formulation of an emplacement model not previously proposed for this complex.

Jan 1, 1984

By R. D. Westervelt

IN JULY 1954, the first iron ore from the deposits in the Knob Lake vicinity was mined and shipped to Seven Islands. The beginning of the production may well be the greatest advance in Canadian economy in the past fifty years. In 1955, the Canadian iron ore output was more than twice that of 1954, an in-crease due principally to the iron ore shipments from the Knob Lake area. Previous to this, Canada&apos;s iron production was 1.85 per cent of the world&apos;s output. Now, this percentage has risen to approximately 5.5 per cent and shows every indication of increasing further as the production rate from the area is increased. In 1955 the Iron Ore Company of Canada shipped over 7 million tons of iron ore and expects to ship over 10 million tons in 1956. Present facilities may be enlarged to handle up to 20 million tons per year. If the expected I 0 million tons per year are exported, Canada&apos;s iron exports will be second only to her wheat and newsprint exports. Before production began from the Knob Lake deposits, years of development were necessary in the area. Geologists spent several summers mapping the general area in order to unravel the complicated stratigraphy and petrology. Particular attention was paid to the mapping of the iron formation and all stages of alteration from fresh iron formation to ore were observed.

Jan 1, 1957

By F. J. Reichhardt

Abstract -The Molopo Farms Complex is a major, layered ultramafic/mafic, early Proterozoic intrusion which is totally covered by sediments of the Karoo and Kalahari Formations and situated in southern Botswana and northeastern South Africa. The approximately 3000 m thick, generally fine- to medium-grained ultramafic and mafic cumulates are intrusive into equivalents of Transvaal Supergroup sediments and lavas. Multiphase deformation resulted in tilting and segmentation of the Complex into individual tectonic blocks. Sr isotopes document at least two chemically distinct parental liquids which interacted in a complex manner to form an approximately 1000 m thick rhythmically layered succession which straddles the ultramafic/mafic boundary. Repeated mixing resulted in a complex cryptic layering pattern and numerous sulfide-enriched layers which contain significant PGE +Au concentrations.

Jan 1, 1994

By Morgan Schauerte, Laura Raimondi, Mariel Palomeque

Executives in the mining industry are facing dramatically changing market expectations on reporting and transparency regarding the environmental and social impacts of projects, supply chains and products. Companies increasingly need to disclose the governance procedures they have in place to ensure communities, investors, employees, and Indigenous partners are effectively managing social and environmental risks. These disclosure requirements begin during exploration and carry through to all stages along the project life cycle. This type of environmental, social and governance (ESG) disclosure is referred to as ESG performance by the investment community. ESG is not a new concept, and it builds on and is intertwined with many concepts such as corporate sustainability, corporate social responsibility, eco-efficiency, triple bottom line thinking, life cycle management and many others. This paper will explore how mining companies can develop a credible ESG governance approach and strategy that will reduce risk, open opportunities, and create value. This paper will summarise ESG trends and drivers, discuss the economics and investors’ perspective towards ESG, and outline leading ESG standards and guidelines of interest to investors, regulators, communities and other stakeholders. Linkage of ESG to global sustainability efforts such the United Nations Sustainable Development Goals and Global Compact will also be addressed.

Jan 1, 2023

By K. Lambrych

Hydrometallurgical equipment used to extract and refine copper and other metals is exposed to extremely corrosive chemical environments. These systems must be fabricated from materials that are durable against corrosion, meet exacting mechanical requirements, and perform economically over the life of the mineral processing plant. In several recent large hydromet projects, fiber reinforced plastic (FRP) has been shown to provide equal if not superior durability relative to alternative materials of construction. This paper will compare corrosion performance and cost of plant equipment fabricated with corrosion resistant alloys, rubber lined steel, and FRP made with Epoxy Vinyl Ester thermoset resins. Case histories for FRP piping, storage tanks, extraction vessels, and electrowinning cells combined with laboratory-based corrosion studies will be reviewed to demonstrate how FRP materials are selected for hydrometallurgical equipment. Specific examples from projects such as El Boleo, Long Harbour and others will be used to demonstrate how the versatility of FRP allows for remote fabrication of durable corrosion-resistant large-scale equipment for hydrometallurgical refinement of copper and other metals. INTRODUCTION Fiber reinforced plastic (FRP) began to emerge as a material of construction for corrosion service in many industrial processes in the late 1950s because of its ease of use and overall performance. Corrosion resistant (CR) FRP, as an alternative construction material to alloys, rubber and tile linings, grew steadily in following decades. The aggressive operating conditions associated with hydrometallurgical processes typically require materials of construction that can withstand acids and acid chlorides at temperatures up to 90°C, sometimes higher. Common metallic materials of construction, such as carbon steel, are not compatible with these conditions. High nickel alloys are capable of meeting performance requirements, but often at a high cost. In many cases FRP mining equipment based on epoxy vinyl ester resin (EVER) offers durability, long service life and lower maintenance costs. Through demonstrated performance and decades of case histories, more and more design engineers are confidently specifying FRP as the material of construction for new mineral processing equipment.

Jan 1, 2019

By Warren A. Sheaffer

THE chief uses for copper are as a conductor of electricity and as the chief component in brasses and bronzes. For such uses, the copper must be of very high purity. H the impurities are zinc, iron, lead, arsenic, or antimony, they can be removed to a great extent by fire-refining. H, however, gold, silver, nickel, or cobalt are present, electrolytic refining is necessary. Electrolytic refining must be preceded by fire-refining and hence all impure copper must be fire-refined. The electrolytic refining of copper is most efficiently carried on when the impurities in the anodes are at a minimum. Some of the impurities tend to deposit with the copper at the cathode, while others remain in solution, decreasing the conductivity of the electrolyte and thus increasing the voltage necessary for refining. Since these dissolved impurities must be removed by continuous purifications, the amount of impurity in the anode copper should be reduced by furnace refining to some predetermined limit. Anode furnace operation aims to reduce these impurities to a minimum beyond which the cost of further furnace refining would exceed that of removing the remaining small amounts of impurities from the electrolyte. The anodes should have a fine-grain internal structure because any pieces of metal becoming detached from the anode during the electrolytic refining are inconvenient to remove from the cells and may cause short-circuits. Impurities tend to disrupt such a structure and thus form zones of weakness during corrosion. When the impurities are reduced to a satisfactory mini-mum, the anode, due to having a fine-grain structure, will corrode uniformly over the entire surface area exposed to the electrolyte. Oxides of the impurities may be volatile, in which case they pass off as flue gases, or they may form viscous slags having a lower specific gravity than molten copper, thus permitting their removal by skimming. Some impurities can be oxidized by introducing air into the bath. Due to the large solubility of oxygen in molten copper, oxygen is distributed uniformly throughout the bath and thus comes into intimate contact with all impurities. The oxides which are insoluble in molten. copper are removed either as flue gases or as slag.

Jan 1, 1942

By Oliver C. Ralston

DURING the development of froth flotation for the treatment of sulphide ores, a certain amount of information was collected about a few of the nonmetallic minerals, and occasionally the gangue minerals in the sulphide ores showed an embarrassing tendency to float. However, for many years efforts were expended to develop reagents that would cause wetting and depression of these minerals. Among the nonmetallics, the minerals sulphur, graphite, and talc probably should be classified as &apos;natural floaters&apos;, and perhaps sericite. They respond to almost any type of flotation reagent, and their beneficiation by flotation had been attempted years ago. Flotation of sulphur is now common practice, and graphite was concentrated during the World War in many mills, most of which have now closed down. A talc mill has just been constructed, and another may soon be erected. Second to the &apos;natural floaters&apos; come the &apos;easy floaters&apos;, cassiterite, fluorite, barite, mica, colloidal gangue, and paper pulp from white water of paper mills. That these materials responded to some of the early flotation reagents, as oleic acid, has long been known; occasional references to their behaviour are found in the very early flotation literature and in that of today. In general, however, nonmetallic minerals, valued at $2.00 to $15.00 per ton, have for a long time been regarded as cheap products and not worth much beneficiation. Consequently, only high-grade natural deposits suitable for direct mining and sale have been gouged out. Furthermore, the mining of these minerals has too frequently been in the hands of &apos;super-practical&apos; men-men of no technical or other training, willing to work for a very low compensation. From the social standpoint, nonmetallics has been the field for small, untrained enterprisers with little money to spend on plant or equipment. But times have been changing. The impact of technically trained men on the old industry has revealed appalling losses and inefficien-cies and proved the value of processing materials discarded or avoided by the old regime.

Jan 1, 1937

By W. N. Wallinger

The mine and concentrator of Cyprus Anvil Mining Corporation are situated in south-central Yukon, some 120 miles north of Whitehorse. The large lead-zinc concentrator employs conventional crushing and grinding , followed by differential flotation, to produce selective lead and zinc concentrates, as well as a mixed lead-zinc (bulk) concentrate. Since the commencement of operations in 1969, the concentrator has undergone expansions and modifications which have increased the capacity to 10,000 tons per day, and afforded some metallurgical improvements.

Jan 1, 1978

"The success or failure of coal mining operations in Western Canada may hinge on the ability to extract thick coal under a variety of geological and mining circumstances and conditions. The paper presents, in who-where, what- how pattern, the current status of undergrounud mining of thick coal seams based on a review of foreign technical literature. The underground production of coal from what are considered to be thick seams is over 300 million tons per year. Methods of mining have evolved, through years of trials and tribulations, capable of meeting the requirements of a modern mine: high bulk outputs from a limited number of mining faces by concentrating in the horizontal (mechanization) and in the vertical (increased working lift)."

Jan 1, 1972

By D. E. Deegan, P. M. Keeley, N. A. Rowson, T. Stachowski

An investigation into the use of Tetronics International’s thermal plasma technology based pyrometallurgical smelting process for the recovery of both platinum and rhenium was conducted. 1000 kg of Pt-Re catalysts containing 0.36 wt% Pt and 0.21 wt% Re was blended with fluxing agents, reducing agents and an iron based collector metal precursor and then fed into a plasma furnace over five individual trials at Tetronics International’s facility in Swindon, UK. Both platinum and rhenium partitioned to an iron rich collector metal phase in the furnace, which formed in-situ and accumulated beneath a less dense slag phase, derived from the inorganic substrate of the catalyst, and was easily separable. The levels of Pt and Re concentration achieved in the iron collector made it suitable for subsequent final refining. Technical recovery efficiencies of =98% for both platinum and rhenium were achieved and the concentrations of the metals in the recovered metal bullion were 2.23 wt% Pt and 1.35 wt% Re.

Jan 1, 2015

By J. B. Kitchin

"The design of conveyor belting for use in mines poses problems to the manufacturer that are unique. The challenge to be met is that of the production of a conveyor belt which can withstand use and misuse in an environment that may differ vastly from one country to another, and even between one mine and its neighbour.The development of a product to meet such varying requirements necessitates a protracted program of trials, both in the laboratory and in the field; a new successful development, the only criterion, can be said to have been achieved only after very long-term usage under actual, deliberately chosen, arduous mining conditions.New developments in conveyor belt construction can never stop, no more than can developments in new and advanced mining techniques. A new problem is set-an answer must be found. Some of the problems are noted here, and answered where possible, in what must after all be little more than an excursion into a very comprehensive and detailed subject."

Jan 1, 1967

By Pierre St-Julien, Réjean Hebert, M. Racine, Roch Gaudreau, Pierre Lacoste, Michel Rocheleau

"Les unités volcano-sédimentaires de la ceinture de l'Abitibi à l’est de Val-d' Or ont été regroupées en quatre domaines litho tectoniques. Du nord vers le sud, nous reconnaissons les domaines d'Assup, de Garden lsland de Val-d' Or, de Trivio et de Villebon. Deux de ces domaines (Garden Island et Trivio) correspondent à des couloirs de déformation, d’envergure régionale et d’orientation approximative E-W. Les trois autres domaines sont caractérises par des volcanites defond océanique de type MORB (tholéiites et komatiites) qui sont en position inferieure; ces volcanites sont surmontées par des sédiments marins de type turbidite (domaine de Ville bon) ou évoluent dans le temps, soit vers un volcanisme bimodal d'affinités tholéiitique et calco-alcaline ( domaine d'Assup), soit vers un volcanisme d'arc insulaire (domaine de Val-d'Or). Il n'existe aucune certitude de corrélation litho stratigraphique entre les différents domaines et l'on doit considérer la possibilité que ceux-ci représentent l'accolage tectonique de terranes de nature et d'origine différente.Les principales caractéristiques structurales de la région sont regroupées en quatre étapes de déformation dont trois sont archéennes et la quatrième attribuée à l'orogenèse grenvillienne. Au moins cinq facies métamorphiques ont été reconnus: I) un facies régional faible propre à la province du Supérieur, 2) un facies de cornéennes a amphibole en périphérie du pluton de Pershing, 3) un facies hydrothermal dans la zone tectonique de Cadillac, 4) un facies régional moyen dans la zone de bordure de la province de Grenville, et 5) un facies régional élevé a l'intérieur de la zone structurale du front de Grenville.Le front de Grenville est défini dans la région par l’apparition subite des ortho gneiss au faciès métamorphique élevé et par la disparition du grain tectonique E-W. Le contact brusque entre les deux provinces pourrait correspondre à une zone de chevauchement de la province de Grenville sur la province du Supérieur. La région étudiée est l’hôte d’un gite majeur de sulfures massifs et de plusieurs gites et indices aurifères; elle présente des cibles favorables pour l’exploration minière dans le contexte tectonométa-morphique de l'influence grenvillienne. L'intérêt de la Formation de Val-d' Or pour les métaux de base et le potentiel aurifère des couloirs de déformation d'orientation approximative E-W, sont bien connus. Les structures grenvilliennes NE-SW, qui se développent vers l'est, représentent aussi des cibles intéressantes, en particulier dans les secteurs ou elles intersectent des cisaillements E-W kénoriens."

Jan 1, 1990

By Gaston Gendreau, Marcel Allard

"Sidbec-Normines Inc. est une société formée de trios partenaires soient: Sidbec, British Steel Corporation et la Compagnie Minière Quebec Cartier. L&apos;objectif de l&apos;opération minière est d&apos;exploiter à ciel ouvert le gisement d&apos;hématite spéculaire de Fire Lake et de produire au concentrateur de Lac-Jeannine, près de la ville de Gagnon, 6 million de tonnes de concentré pour alimenter l&apos;usine de bouletage de Port Cartier.Le présent exposé a pour but de fa ire ressortier les caractéristiques d&apos;une opération dont la mine est située à plus de 100 km du concentrateur, d&apos;en faire ressortir les particularités touchant le transport du personnel et du minerai. En plus, on traitera de l&apos;importance dans une telle situation d&apos;une organisation efficace dans la gestion des services et de l&apos;opération (atelier, concasseur, entrepôt, etc.).IntroductionSidbec-Normines Inc . a entrepris l&apos;exploitation minière du gisement de Fire Lake, le 1er janvier 1977. Le but de l&apos;entreprise est de produire annuellement six millions (6 000 000) de tonnes de concentré d&apos;hématite (oxide de fer) titrant 66% Fe au concentrateur de Lac-Jeannine a partir d&apos;un minerai d&apos;une teneur moyenne de 33% Fe, extrait de la mine de Fire Lake. Ce concentré est ensuite achemine à Port-Cartier et alimente I&apos;usine de bouletage.Les installations minières de Sidbec-Normines sont situées a trois endroits différents : la mine à Fire Lake, le concentrateur à Lac-Jeannine et l&apos;usine de bouletage à Port-Cartier. La mine de Fire Lake se situe à 83 km de la ville de Gagnon et à 100 km du concentrateur de Lac-Jeannine. Une route provinciale relie la ville à la mine et au concentrateur. Le minerai est acheminé de la mine au concentrateur par chemin de fer et le concentré est transporté par train sur une distance de 309 km à l&apos;usine de bouletage de Port-Cartier."

Jan 1, 1982

By L. Kilburn

A survey of 281 mineral exploration agreements examines the ratios among three ways that may be used to purchase an interest in a mineral property, viz: pay cash, pay shams and make future expenditures on the property. The dollar value of the future expenditures exceeds that of cash or shams by about nine times in most of the 110 agreements that contain cash-expenditure or share-expenditure components. Results suggest that cash and shams are treated about the same in terms of value. Buyers and sellers haw opposing priorities for the way that they prefer to purchase a mineral property. These opposing priorities should give rise to a perceived 50:50 balance between cash/share payment and future expenditures to satisfy the idealized situation described by most definitions of fair market value (FMV). This balance between cash/share payments and future expenditures appears to be rationalized in negotiations to a FMV when expenditures are nine times greater than cash and/or payments. On this basis, it is proposed that the FMV of a property may be determined by aggregating the dollar amount of the cash/share payments plus one-ninth the dollar value of future expenditures, as set forth in the respective purchase agreement, and proportionately applying such aggregate to full property value.

Nov 1, 2005