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By Donald W. Gentry

This section deals with one of the most fascinating aspects of mining the evaluation of mine investment opportunities. Be-fore proceeding further, it is important to clarify the meaning of some fundamental terms used frequently in the text. 6.0.1.1 Mine Valuation vs. Evaluation The words "valuation" and "evaluation" in a mining context are often used interchangeably. However, for the purposes of this section, a distinction is made between the two terms in accordance with commonly accepted practice. The word valuation in a mining project context has the rather narrow meaning of placing a dollar or other currency value on the worth of the project as a whole. In other words, the value of a mining project refers to a measure of the desirability of ownership of that property. As such, the major item of interest is, "what is the mine worth?," or `what is the value of the mine?" The value of a mining project may actually be determined in the marketplace at any specific point in time, or it may be estimated by one of several methods. The topic of mine valuation is discussed in more detail in Chapter 6.1. The word evaluation in a mining project context connotes the broader meaning of determining the numerical values of all

Jan 1, 2008

By William R. Yernberg

The Mineral Processing Plant Design, Practice and Control Conference was held from Oct. 20through 24, 2002, at the Fairmont Hotel, Vancouver, British Columbia, Canada. The conference was attended by nearly 400 of the world’s top mineral-processing specialists, including plant-design engineers, mineral-processing consultants, academics, suppliers and equipment manufacturers. The meeting was sponsored by SME and cosponsored by the Canadian Mineral Processing Division of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). The conference covered all aspects of mineral-processing design, construction and operation. The meeting included more than 130 technical presentations. Topics included sampling programs, feasibility studies, design criteria, process technologies, construction, start-up operations and shutdowns. To stimulate interaction and discussion throughout the five-day conference, the sessions were presented consecutively. Attendees had the opportunity to attend every session.

Jan 1, 2003

By F. Maciosek, D. Denton, J. Johnson

Researchers from the Spokane Research Laboratory of the National Institute for Occupational Safety and Health and personnel from Coeur Silver Valley, Wallace, ID, conducted tests using rock strain strips and Split-Set rock bolts instrumented with strain gauges to monitor wall rock strain at the Galena Mine, Osburn, ID. The objective of the test was to identify whether strain on the rock bolts increased prior to a rock burst. Although results were inconclusive, researchers learned that the Split-Set rock bolts yielded in stick-slip fashion in the highly jointed walls of the stope. The bolts were also bent as stress was redistributed following blasting and subsequent movement along joints in the wall rocks.

Jan 1, 2004

By Juan Camus

To understand why some companies excel in creating value, Jim Collins (2001) and a group of postgraduate business students engaged in a comprehensive, five-year research project. They examined 1,435 U.S. companies for more than 40 years, seeking those that made significant improvements in their financial performance over time. The distinctive pattern sought was: ?Fifteen-year cumulative stock returns at or below the general stock market, punctuated by a transition point, then cumulative returns at least three times the market over the next 15 years. ?The search identified 11 outperforming companies, all in different industries, that were called the ?good to great? companies. To contrast these companies with similar peers within the same industry, the search also selected a group of comparison companies that failed to make the leap from good to great. Collins then set out to examine the transition point. What distinguishing features did the good-to-great companies have that their industry counterparts did not? At the heart of the findings about these outstanding companies is what Collins refers to as the ?hedgehog concept? ? how to find the one big thing that the company must focus on. According to Collins, those who built the good-to-great companies were, to one degree or another, hedgehogs. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a hedgehog concept, being instead scattered, diffused and inconsistent. This insight is complemented by Peter Drucker (2004), an influential management guru, who asserts that the first question an effective executive should ask is: ?what needs to be done?? Asking this question and taking it seriously, he asserts, is crucial for managerial success; and that the answer almost always has more than one urgent task, but the effective leader only concentrates on one task. In this last respect, Drucker emphasizes: ?If they [executives] are among the sizeable minority who work best with a change of pace in the working day, they pick two tasks. I have never encountered an executive who is effective while tackling more than two tasks at a time.?

Jan 1, 2011

By Steve Kral

The domestic mining industry may be in the doldrums but there appears to be hope, at least from a regulatory standpoint. At least one US senator believes that the events of Sept. 11, 2001 made many citizens see the need for the country to become more self-reliant on its growing energy needs. Even before that tragic day, however, the Bush administration was making a strong push to open up more public land for energy and natural resource development.

Jan 1, 2002

By Edward Hall Smith

The E1 Indio Mine is located in the Andes mountains about 180 kilometers East of La Serena, capital of the Fourth Region of Chile. It is reached by an international highway running up the Elqui Valley as far as Juntas from where the last 42 kilometers is on a road constructed by the Company. The plant is located at 3.900 meters above sea level among extremely rugged terrain with nearby mountains rising about 5.500 meters. Climatic conditions at these altitudes are severe with winter temperatures down to -20°C. Snow storms lasting several days and leaving up to two meters of snow have been experienced, while fierce winds are corm=.

Jan 1, 1984

By N. A. Karl, D. R. Wilburn

"This summary of international mineral exploration activities for the year 2016 draws upon information from industry sources, published literature, SNL Metals & Mining (SNL), an offering of S&P Global Market Intelligence (New York, NY), and specialists in the U.S. Geological Survey (USGS) National Minerals Information Center. Three types of information are reported and analyzed in this annual review of international exploration: 1) budgetary statistics expressed in U.S. dollars provided by SNL; 2) regional and site-specific exploration activities that took place in 2016 as compiled by the USGS and 3) regional events and legislation that affected exploration activities including economic, social and political conditions, which were derived from published sources and discussions with USGS and industry specialists. Commodity and regional compilations are presented in this summary. Because multiple sources were used to develop commodity and regional compilations, statistics may vary depending on the source and type of data that are being reported. The SNL data summarize budget estimates for worldwide exploration activities in 2016 for 30 nonfuel mineral commodities and metal alloys, based on company surveys. Surveys focused on precious metals (gold, platinumgroup platinumgroup metals (PGMs) and silver), base metals, (cobalt, copper, lead, molybdenum, nickel, tin and zinc), bulk commodities (bauxite, chromite, iron ore, manganese, phosphate and potash) and other commodities (aluminum, antimony, diamond, graphite, heavy-mineral sands, lithium, niobium, rare-earth elements (REEs), scandium, tantalum, tungsten, uranium, vanadium and yttrium). Information on uranium exploration activities was included in SNL’s survey for the first time in 2007. Data on lithium, niobium, phosphate, potash, REE and tungsten were compiled for the first time in 2010, and scandium, vanadium and yttrium were added in 2014 because of their increased topical significance. Since 1999, companies with exploration budgets of $100,000 and greater were included in the SNL surveys. SNL budget estimates exclude coal, and oil and gas. The 2016 SNL mining company survey compilation was reported by SNL to include an estimated 95 percent of the world’s nonfuel mineral exploration budgets. The 5 percent that was not covered was accounted for by companies that chose not to participate in the SNL survey, private companies that do not publish their budget data and government-funded exploration activities."

Jan 5, 2017

By Donald A. Bruce

Pregrouting is an extremely important part of many rock tunneling projects. However, poor and unsatisfactory performances have been frequently recorded often with very severe consequences, technically and financially. This paper, based on personal knowledge of several relevant case histories, provides recommendations with respect to specification drafting, drilling, water pressure testing, and grouting methodologies, and cementitious grout mix design principles. Even given that the logistical challenges facing tunnel pregrouting from underground will prevent all the sophistication and innovations of contemporary dam foundation grouting being practically implemented, there is still opportunity and need to change “traditional” approaches.

Jan 1, 2005

By Bruce Gellar

In March, the Prospectors and Developers Association of Canada (PDAC) held its annual conference in Toronto, Ontario. This is the third PDAC meeting the author has attended. The following are some impressions of the meeting. And the author looks forward to the joint meeting of the PDAC and the Canadian Institute of Mining, Metallurgy and Petroleum to be held March 5-10, 2000, entitled Mining Millennium 2000. One of the features of next year’s gathering is a proposed forum of world mining ministers, the first ever to be held anywhere.

Jan 1, 1999

By Steve Kral

Competition from foreign coal producers could displace as much as 9 Mt/a (10 million stpy) of US coal bound for power plants located near waterways. But, according to a Maryland-based coal consultant, it could be worse. Theoretically, about 52 Mt (57 million st) of domestic coal could be vulnerable to imports by 1990, said Forrest Hill, of Hill & Associates of Annapolis. Hill was speaking to about 150 coal industry executives and experts at the third annual Coal Marketing Strategies Conference in November. Most were at the Denver, CO conference to pick up tips on how to sell coal in an oversupplied market. Imports threaten domestic markets Of the 200 utilities studied by Hill and his staff, 119 are situated near major waterways, he said. However, most of those waterways are not equipped to handle coal from the shipping lanes. Good news for US coal producers. But don't breathe too easily. Foreign coal still poses a major threat to domestic markets, Hill continued. The strength of the US dollar is an obvious factor. But easy access to US utilities located on waterways combined with low rates for ocean vessels give foreign producers another edge. And foreign mines are typically low cost producers. For example, Hill said Colombia's huge Cerrejon mine can deliver coal to an Illinois power plant for $47.87/t ($43.39 per st). That compares to $52.85/t ($47.95 per st) from a Kentucky coal mine. Also, Colombian coal producers can generate a cash flow even if the coal sells for $27.50/t ($25 per st). The main competition US producers face from abroad, as Hill sees it, comes from Australia, Canada, Colombia, Poland, South Africa, and, perhaps, from Venezuela. Domestic producers, however, do have some things going for them. Most US coal buyers, Hill said, "are not wild about the idea of buying foreign coal." A 10% price advantage or pressure from public utility commissions would be needed to force some of them to buy foreign coal, he said. Some of the utilities contacted said they would not commit to more than one-third of their stockpiles to a foreign source. Another advantage for US producers is that they have room in their long-term contracts to cut prices and still maintain a profit, Hill said. Railroads, too, have high profit margins written into their rate structures. They are also aware of the import threat. Therefore, they may reduce their rates accordingly to keep their markets. Marketing's role The energy price shocks of 1972 and 1976 caused major adjustments in world economics. Coal was no exception. High oil prices caused many utilities to look at less expensive coal. As the market improved, coal prices began to respond, said R. Gale Daniel, of Anaconda Minerals Co. But clean air legislation and the strengthening dollar caused havoc in the coal markets, he said. The price of oil crashed, taking with it predictions of record coal use. The result is an oversupply of coal that has led to price cutting. Now, coal marketing must be recognized in its "true leadership role," Daniel said. Marketing people must know when to use spot sales to balance production objectives and maintain cost-effective-

Jan 1, 1986

By S. J. Jung

Determining the correct combination of mix components and water for high-density paste backfills with the transport and deposition properties necessary in a mining operation is a difficult task. Rheologic properties cannot be determined without conducting full-scale pumping tests, and data from existing tests are very limited. The following presents the findings of investigations undertaken to determine if paste backfill rheology can be determined using existing techniques and which mix and system variables have the greatest influence on transport pressure loss. Data from lab-oratory-scale pumping tests were used to produce a rheologic model of flow behavior for comparison, and a statistical analysis was conducted to determine the most significant factors affecting transport pressure loss.

Jan 1, 1994

By H. Gerry Stephenson, Devin Castendyk

"One of the most important environmental issues associated with contemporary openpit mining is the closure of mine pit lakes, and the perpetual legacy these lakes can potentially generate. Ideally, successful pit lake closure includes the following:• The water quality within the pit lake, plus surface water and ground water discharging from the pit lake, meets premining or other acceptable water quality conditions of the receiving environment. • The termination of all active treatment processes.• The return of the pit lake to the government for long-term care and maintenance.• The release of the mining company from all future liabilities associated with the pit lake.• The return of the environmental bond to the mining company.• The reuse of the pit lake for some post-closure, beneficial purpose.The achievement of these goals is known as walk away pit lake closure.Peer-reviewed publications of successful walk away, pit lake closure provide mining companies with the ability to address public concerns regarding the safety of pit lakes which commonly occur during the permitting, operations, and closure phases of mining. To date, most published work on walk away, pit lake closure work has occurred in the coal mining sector in Germany and Australia (McCullough et al., 2009; Jones and McCullough, 2011; Kumar et al., 2013; Schultz et al., 2013). In North America, examples of walk away, pit lake closure are not widely discussed in the literature despite there being excellent examples from the coal mining sector in Alberta, Canada (e.g. Pleasure Island, Black Diamond, East Pit, Sphynx, Robb, Lovette, Siltstone and Sterling), and from the iron mining sector in Minnesota in the United States (e.g. Portsmouth Lake, see MNDNR, 2018). Although seldom included in discussions of pit lakes from the metal and coal mining sectors, the aggregate and fabricated-stone mining sectors also produce pit lakes, and there are numerous examples throughout North America where these pit lakes have been successfully closed and transformed into post-mining resources (Vandenberg, 2018; Crossman, 2019). The difficulty of finding these good examples in the literature makes it challenging for companies to respond to public and regulatory questions regarding pit lake closure and reuse. As such, there is a pressing need to document the motivations and approaches used in examples of successful, walk away, pit lake closure in North America so that the mining industry, at large, can learn from these examples and can better address public concerns."

Aug 1, 2019

By C. Gherghel

The planning and operation of ventilation network systems for uranium mines require special considerations since ventilation is the primary technique of controlling ambient concentrations of radon progeny. The major environmental challenge facing the ventilation engineer is the requirement to dilute radon progeny to below the Working Level Month per year of worker exposure required by law. The application of large airflow volumes and the utilization of low residence times constitute some of the factors considered by the design engineer. Good mine planning and sequencing are also critical for protecting the health of miners. The mine ventilation must have such characteristics as flexibility, high air distribution efficiency, rapid air transit times, zero recirculation and no short-circuiting. A well established maintenance program for all ventilation appliances must be in place to guarantee control of the distribution system. Real-time monitoring systems permit assurance the adequate quality of air is delivered to working places. A case study for an operating mine is used to demonstrate how the ventilation system is successfully managed and operated using the above concepts.

Jan 1, 2009

By A. A. Sadegh

A laboratory investigation was carried out on the characterization and beneficiation of sillimanite ore. Petrographic analysis indicated that the ore consisted of massive elongated sillimanite grains in a matrix of hematite, garnet, feldspar and silica. A procedure for estimating the percentage of sillimanite was developed using float-sink and magnetic-separation techniques. A liberation study was carried out to determine the level of size reduction required to achieve sufficient liberation while ensuring that gravity concentration techniques would be applicable. Laboratory testing was performed on the liberated ore to investigate the applicability of using wide-angle dense-medium cycloning to upgrade this ore. Initially, medium-only tests were carried out using various size distributions of magnetite and ferrosilicon as the dense-medium solids to evaluate the effects of operating conditions on medium segregation. Depending on the medium solids and operating conditions, either positive of negative differentials (difference between the relative densities of the underflow and overflow streams) were obtained. Based on these results, separation tests were performed to process nominal -1.2-mm sillimanite ore. The results indicated that sillimanite concentration could be obtained using a medium relative density that was much lower than would typically be used in a dense-medium cyclone separation.

Jan 1, 2007

By A. Eccles

Phase designs are the foundation upon which all open pit mine sequence optimizations and budgets should be built. Unfortunately, at times, mine engineers skip the step of developing realistic pit phase designs - designs that include access ramps and mineable widths. Without mineable phase designs, their optimized schedules are based on theoretical pit shells or ?quick-and-dirty? plans with no ramps. The output from such optimizations is almost always overly optimistic. Without mineable designs, the production estimates are misleading, because they overestimate ore, and underestimate waste stripping requirements. Worse yet, when plans are not based on realistic phase designs, they can point to exactly the wrong decision in feasibility studies (i.e. ?go? when it should be ?no-go?). This paper discusses the importance and features of good pit phase design, and demonstrates the pitfalls of relying on optimized production sequences that are not based on properly designed pit phases.

Feb 27, 2013

By Dushasan Kundu, B. N. Shivakiran Bhaktha, Khanindra Pathak, Sarbojit Mukherjee

Mine safety and quality of life of miner working in underground mines depend to a large extent on mine illumination and communication. The provisioning of reliable, safe, and cost-effective illumination is critical, particularly in underground gassy coal mines. To prevent firedamp explosion by electrical switching operation in coal mining industry requires implementing intrinsically safe illumination circuit. The luminaire design also needs to be certified and installed properly. The current illumination systems installed inside mines require a lot of energy which is obtained from nonrenewable resources. In this work, the design and implementation of solar-powered optical fiber-based illumination are studied and implemented in the Jhanjra underground coal mine, Eastern Coalfield Limited, and a Li-Fi-based communication system for underground coal mines is proposed. Silicate optical fibers of various core diameters and numerical apertures are characterized for illumination applications and their efficiencies are reported. The possibility of achieving optical fiber-based solar, laser, and hybrid illuminations in underground mines is discussed. The design and fabrication of a Fresnel lens-based solar tracker for solar illumination are also presented. The optical fiber-based illumination system is installed in an underground coal mine and the illumination of over 70 lux is achieved at the work plane. Finally, optical fiber-based illumination and simultaneous basic Li-Fi communication are demonstrated and will be beneficial to the underground coal mining industry.

Apr 14, 2023

By Andres Salazar, Carlos Delgado Robles, Richard K. Preece

Minera Escondida, located in the Antofagasta Region of northern Chile, is the world’s largest producer of copper as concentrate and SX-EW cathode. Projects to increase mill and flotation capacity began soon after start-up in 1990 to off-set decreasing copper grade. Subsequent projects had the objective to increase copper production through heap leach and SX-EW production and a second concentrator. The mine footprint concurrently expanded peripherally from the central high-grade enriched core of Escondida and then into the separate Escondida Norte deposit. Early in the mine life, metallurgical forecasting that was based on metallurgical composites of presumed ore types and historical plant production was adequate for operational planning, plant design, and project valuation. This approach became unreliable, however, as the increase in mine footprint was accompanied by an increased variability in key ore body characteristics such as hardness, copper-iron sulfide mineralogy, and sulfide liberation textures that were not reflected in the geological criteria used for ore type designation. The project study teams turned to small-scale physical and chemical tests to better characterize the spatial distribution of these key ore characteristics. Programs associated with capital growth projects were carried out through the mid-2000s to sample and construct a three-dimensional spatial model of hardness, copper sulfide mineralogy, and rougher flotation recovery from tests on 15-m drill core composites. Mathematical models were developed from the respective ore characteristic data to calculate throughput, flotation recovery, and concentrate copper grade. The spatial models were integrated with the concurrent mineral resource block model using standard geostatistical methods and the metallurgical process calculations were applied to the block estimates. The geometallurgical model, originally constructed on a project basis, is now managed by a dedicated team reporting to the manager of Geosciences & Resources Definition in the Escondida organization. The model has evolved with increasing complexity of the mine and processing plants and currently includes seven forecasting areas for three concentrators and four areas for two leach plants. Metallurgical forecasts of mill throughput, final flotation recovery, and concentrate copper grade still have the highest relevance to mine planning and optimization. Sample preparation, test procedures, and quality control methods are summarized for the ore characteristic tests important to these forecasts. Analytical results from recent annual sampling programs are presented for the hardness indices, rougher flotation recovery, and partial extraction copper analyses. Geostatistical analysis of the SAG mill hardness index is summarized as an example for the spatial estimation process. Mathematic models are presented for throughput (based on hardness indices), final flotation recovery (based on rougher recovery and plant calibration studies), and concentrate copper grade (based on sulfide mineralogy and empirical pyrite rejection studies).

Aug 31, 2023

By D. M. Jepsen

One of the first things we tell a potential new client is that they have only one chance to make a first impression with an Aboriginal community; all future communications and engagement will be predicated on that first impression. The key components of this most critical meeting are not your power point, your maps, or your draft plan for development ? they are instead a genuine, evident and clear demonstration of a sincere desire to develop a positive relationship that is based upon respect, and consideration and understanding of local communities and their interests, needs and desires. Relationship building is the foundation of proactive and positive consultation and accommodation with Aboriginal communities and the tone is set with the first meeting. C3 has refused more clients than we have accepted due most often to the fact that relationships between the company and the Aboriginal community have already devolved into a tense and toxic scenario. Land access and tenure certainty for exploration and mine development is critical to the foundation of a healthy, sustainable and environmentally and economically sound mineral exploration and mining sector. Without certainty confidence to invest in mineral exploration will be severely eroded. We all understand that substantive investments in exploration are required to increase the possibility of discovering, defining and developing new mines. The development of positive relationships based on a shared commitment of understanding, mutual respect and trust by Aboriginal Peoples and the mineral sector can provide the required business certainty and deliver social and economic benefits for local Aboriginal communities.

Jan 1, 2012

By D. J. Pyra, J. Kudelko, Korzekwam W.

Polkowice region (Lower Silesia, Poland) is an area, where the copper mining activity started about 40 years ago and new technologies were applied. There are 3 underground mines, 3 processing plants, tailings pond (the biggest one in Europe), pipelines for flotation waste transport, railways. Although new technologies were applied during the copper ore exploitation, the environment in this area were polluted mostly by dust containing copper, lead, zinc and arsenic. Estimated values of heavy metals in polluted soils were compared to the natural contents of this metals. The geochemical background for Polkowice area was defined. The pollution zones occur around mining facilities. Copper ore exploitation and processing is planned for the next 20-40 years depending on market situation. After mines and other facilities closing the most important problem will be sustainable development of this area. To evaluate the scope of revitalization activities the analysis of recent soil environment condition will be necessary as well as forecasts for pollution migration. Geostatistic methods used also in mining will be very helpful for this task.

Jan 1, 2005

By S. D. Hill, G. E. McClelland

To maximize productivity and improve minerals processing technology, the U. S. Department of the Interior, Bureau of Mines, is investigating a particle agglomeration technique as a means of increasing the percolation rate of leaching solutions through heaps of clayey or finely crushed, low- grade, gold-silver ores. Bench-scale and pilot-scale experiments conducted on different ores indicated that the percolation rate of cyanide leaching solution was enhanced markedly by mixing the ore with a binder, such as lime or portland cement, moistening the mixture, then mechanically agglomerating and aging the feed prior to heap building and leaching. In addition, the rate of silver and gold extraction markedly increased without sacrificing total recovery of values. The use of concentrated cyanide solution instead of water during the agglomeration procedure substantially decreased the leaching time required to obtain maximum recovery. Results from bench-scale and pilot-scale experiments using the particle agglomeration technique are discussed.

Jan 1, 1981