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By Robert J. Ramsey, N. Finkelstein, Robert D. Jeppson

Introduction The Utah Copper Division of Kennecott Copper Corporation will present its contribution to the A. M. Gaudin Flotation Symposium in four parts. The first two segments will discuss briefly the historical development of the Utah Copper Division and describe the ore body. The third segment will review the facilities and operating procedures for the Utah Copper Division's newest plant, the Bonneville Concentrator. The fourth segment describes flotation process circuitry, including molybdenite recovery procedures, at the Arthur and Magna concentrators. (The Bonneville concentrator is a crushing and grinding unit and does not have its own flotation plant). 1. Historical Development Progress through change has been the key to the successful operation of the Utah Copper Division for more than 70 years. As the original low-grade copper operation, the pressures to remain competitive and profitable have dictated the timing and extent of each change. Much of the change has occurred through technological and economic advancements in the area of ore concentration. The Utah Copper Division of Kennecott Copper Corporation had its origin June 4, 1903, when the Utah Copper Company was organized. The initial mill of 300 tpd (tons per day) capacity was built at Copperton a few miles below the present Bingham Canyon mine site. From 1904 to 1910, the Copperton mill was expanded to a capacity of 1,000 tpd, and all of the known apparatus for gravity concentration were evaluated.

Jan 1, 1976

By C. Y. Kao, Roger Y. Cheng, C. S. Hsieh

The mushroom-shaped Minghu power cavern located in central Taiwan is 21.2 m (W) by 40.5 m (H) by 127.2 m (L) and is designed to house 4 units of power generating-pumping equipment with a total capacity of 1,000 MW. This paper presents an introduction to the geological conditions at the cavern site; the rock mechanical tests undertaken; the design approach adopted; the construction method and sequence followed; and the instrumentation provided in the roof arch to monitor the behavior of the surrounding rocks. The measured data collected from the embedded instruments will be compared with those obtained from theoretical analyses and presented in this paper. Several technical problems encountered during the construction stage are covered and the solutions of these problems are also described therein.

Jan 1, 1983

By R. H. Moore, B. D. Breitenstein

INTRODUCTION The United States Uranium Registry (USUR) tissue program was funded in 1978 by the United States Department of Energy (DOE) through its Human Health and Assessments Division, and registrant enrollment began in 1980. It is operated by Hanford Environmental Health Foundation (HERF), Richland, Washington, with support provided by Pacific Northwest Laboratory (PNL).** The USUR tissue program is the first systematic effort to contact and gain assistance of workers occupationally exposed to uranium and to seek and study uranium deposition in human tissue. This paper describes the program objectives, populations selected for study, procedures for enrolling workers in the program, types of tissue to be studied, and analytical procedures to be used. PROGRAM OBJECTIVES The objectives of the USUR tissue program are to: 1) Determine the distribution and concentration of uranium, if any, in the tissues of occupationally exposed workers. 2) Compare bioassay measurements of exposed individuals with the results of analyses of tissues obtained at autopsy. 3) Seek evidence of histopathologic changes related to any uranium deposition that may be present. 4) Conduct analyses of whole bodies, when available, to obtain more precise data on the uranium burdens, if any, in the body and organs, and especially the distribution in parts of the body, such as the skeleton, that are not usually accessible for sampling. 5) Develop data that will assist in evaluating a) the accuracy of current in-vivo measurement techniques, b) the propriety of existing regulations, and c) the adequacy of current protection programs. SELECTION OF POPULATIONS FOR STUDY Selection of the populations for the USUR tissue program was based on studies of the United States Uranium Registry described elsewhere (0c81). Potential populations for study were quite varied because of occupational exposure to different chemical forms of uranium, different levels and eras of exposure, varying ability to identify populations exposed in the past, and the general interest and cooperativeness of the populations. Nevertheless, certain identifiable populations emerged that were both willing to participate in the study and likely to provide useful information. Among the targeted populations are individuals who were exposed to uranium prior to the existence of modern exposure standards. These individuals are presently being enrolled by the USUR. The reliability of concentration and distribution data and the demonstration of effects are more likely in such individuals than in those who have received less exposure. However, the targeted groups also include individuals who Have been exposed to permissible levels of uranium, and reference employees in uranium plants who have not worked with uranium. The lesser exposures are of immediate interest because of the rarity of heavy exposures under current standards. The sampling of potentially exposed individuals with negative in-vivo measurement results may serve to check the adequacy of in-vivo measurements in the detection of deposition. [ENROLLMENT PROCEDURE] The enrollment of participants follows three patterns. 1) Presently employed workers are enrolled by the cooperative efforts of USUR staff with the medical, industrial relations, and/or health physics personnel of the uranium facility. Volunteers may be enrolled by medical personnel at the time of their physical examination or by health physics personnel at the time of a bioassay or lung counting procedure. Follow-up after initial contacts with currently employed uranium workers is carried out by on-site personnel, but subsequent follow-up is the responsibility of the Registry. 2) Retired workers are contacted by mail, with a covering letter from their former employer supporting the principles of the study but leaving participation in the program on an entirely voluntary basis. 3) An alternate method of enrollment is to obtain a USUR autopsy consent after death from the next of kin. As part of enrollment in the program, permission is requested for access to the individual's medical and exposure data, and a short occupational history is filled out. The autopsy permission agreement signed by the individual is for an initial period of 5 years; the USUR ordinarily seeks renewal of the agreement upon its expiration. While this agreement provides

Jan 1, 1981

By M. Modis

According to previously established theoretical analysis and under certain conditions, a critical sampling grid can be determined for an earth-related space-distributed natural variable. Sampling above this critical limit adds little to the mapping results, while based on this limit the ideal process of reproducing the original phenomenon is theoretically defined. The objective of this paper is the application of the above theory to the Klidi lignite deposit in Florina, Greece, where Public Power Corporation (Greece) has conducted a sampling campaign to estimate the deposit thickness and its heating value. Data acquired for these two variables were analysed in the space domain in order to derive their respective correlation functions. The structural analysis of the deposit generated two covariance models, one for the thickness and one for the heating value, from which the critical sampling grid was identified. The conclusion drawn is that in some parts of the deposit the sampling grid is denser than required. Finally, an optimal sampling grid is proposed in order to gain the maximum information at the lowest cost.

Jan 1, 2006

By L. H. E. Weyher

A mine is essentially a vast materials-handling system. All other systems found in the mine exist to one degree or another to support the materials-handling functions, from the cutting at the face to the hoisting in the shaft. In this chapter computerized planning of underground materials-handling systems will be examined by dividing this function into: (1) the planning of the production section, and (2) the planning of underground rail or belt haulage from the production section to the shaft, slope, or surface. While alternative divisions might focus on the different materials- handling functions, i.e., production, supply, and manpower transportation, historical computer analysis has focused on the various systems rather than functions. The emphasis in this chapter is directed toward coal mine applications; however, most of the programs and methods are equally applicable to other underground mines. Markedly different methods are encountered in each system, and moreover, marked differences exist in the nature and the degree to which the materials-handling subsystems in each interact with the environmental or support systems. The most intimate interaction exists at the faces where geologic, human, and machine performance factors are closely related and constantly varying. In view of this, the planning of the materials-handling systems for the face will usually stress flexibility, while the outby materials-handling systems will generally place decreasing emphasis on flexibility and more on system reliability, capacity, and cost effectiveness. Thus, hoisting and main haulage systems are generally designed and constructed as permanent installations and cannot be readily changed, whereas secondary haulage systems and face operations are relatively mobile. These differences may have considerable significance for the mine planner in making technical and financial comparisons of alternatives to provide the scheduled mine production.

Jan 1, 1979

By B. T. Mirabile, D. Tang, Y. Luo, S. S. Peng, C. T. Holland

Knowledge of local coal mine roof geology is critical to the design of a safe and suitable mine structure. An automated drill control and data collection system has been designed for a J.H. Fletcher twin-head roof bolter. Drilling parameters collected during the drilling process can be used to interpret geologic features intercepted in the mine roof. The drill and data collection system have been tested in both laboratory and underground settings. Visualization of certain drilling data has shown good correlation with geology drilled. A quantitative prediction model was developed using drilling parameters examined with data visualization. The quantitative model was tested using laboratory drilling data.

Jan 1, 2004

By F. T. Paleari

Radial gas holdup profiles have been measured in a 50x400 cm flotation column using a multi-cell conductivity probe. Three different bubble generation systems were examined: up to eight vertical filter cloth spargers, three horizontal filter cloth spargers, and three (horizontal) Cominco-type spargers. The variables tested were: number of spargers, symmetry of their arrangement, and height above spargers. Batch water with up to 20ppm frother concentration was used. The general observation is that the profiles tend to be uniform (i.e. flat) with some exhibiting a slight wavy shape. The vertical sparger arrangement proved the most difficult to achieve profile symmetry. The horizontal spargers gave uniform profiles at right angle to their length but a decreasing gas holdup along their length; the Cominco-type spargers gave slightly less scatter in the data. Switching off selected spargers (to simulate malfunction) did not produce strong asymmetry in the profiles.

Jan 1, 1993

By D. K. Gibson, A. I. M. Ritchie

The phenomenon of acid drainage is likely to occur whenever pyritic rock is broken up, permitting access of air and water. The basic chemistry of the oxidation process is described by the equations below:- FeS 2 +1120 + 7 02 ➔FeS04 +112S04 +1440k.J This reaction proceeds rather slowly, although believed to be bacterially catalysed to some extent. Once sufficient ferrous ions and acidity have been established the following two reactions take over, yielding the same net result but at a much greater rate. First, ferrous ions are oxidised to ferric; this is an extremely slow reaction unless bacterially catalysed.

Jan 1, 1991

By C. Babbitt, J. O’Green, N. I. Jayaraman

In many mines, dust-laden air from an entry being driven by a continuous miner will contaminate the intake air to the roof bolter operator and other downwind personnel. Through a US Bureau of Mines (USBM) contract, Foster-Miller Inc. has evaluated several control techniques to reduce the respirable dust exposures of downwind personnel. One fan and tubing technique consisted of bypassing the miner-generated dust directly to the section return. The results of the evaluation of this technique revealed that reductions in dust concentrations of 90% or more can be achieved at downwind roof bolter locations. A second method was to clean the dusty air from the upwind continuous miner by using a dust collector. The cleaned air was then supplied to the bolter through collapsible tubing. An underground evaluation showed reductions of 82% to 96% when the dust collector was operating. A third method was to reduce the quantity of dust contributed by the miner to the return airstream. A water-powered scrubber was installed over the throat area of the continuous miner. More than 1.18 m3/s (2500 cfm) of dusty air moved through five tubes with dust collection efficiency exceeding 75%. Underground evaluation results showed that return dust concentrations were reduced by about 60%. This paper discusses the ventilation and dust control techniques used for personnel downwind of the continuous miner.

Jan 1, 1987

By J. Brad Dalton, Sam Vance, Trude V. V. King, Roger N. Clark, Raymond F. Kokaly, Gregg A. Swayze, Dana J. Bove

Visible-wavelength and near-infrared multispectral image cubes for the Animas River Watershed from Hermosa, Colorado to the headwaters at Animas Forks, Colorado were acquired on June 18, 1996 using the Jet Propulsion Laboratory's AVIRIS (Airborne Visible and InfraRed Imaging Spectrometer) instrument (Green et al., 1998). These image cubes have been analyzed using the USGS Tetracorder V3.4 implementation (Clark et al., 1995), an expert system which utilizes a database of more than 300 laboratory spectra of endmember minerals and mineral mixtures to generate maps of mineralogy, vegetation coverage, and other material distributions. Major iron-bearing, clay, carbonate, and other minerals were identified along with several minerals associated with acid-generating hydrothermal systems including pyrite, jarosite, alunite and goethite. Additionally, distributions of alkaline minerals such as calcite and chlorite indicate a relation between acid- buffering assemblages and stream geochemistry within the watershed.

Jan 1, 2000

By G. Robert Guillet

Nepheline syenite is a light-colored feldspathic rock that is used primarily as an addition to the glass batch. It is also used in ceramics and as an industrial filler. Composed essentially of the soda and potash feldspars and nepheline, nepheline syenite contributes needed alkalis and alumina to the glass composition. And because it contains a higher proportion of these oxides per unit weight, it is a formidable competitor for feldspar in northeastern North America and parts of western Europe. Nepheline-bearing rocks are not uncommon on a world scale, but few are able to be beneficiated to a composition sufficiently low in iron to be used in the making of glass. Nepheline can only form in an environment deficient in silica. Hence free silica, as quartz, is always absent in the primary mineral assemblage. Biotite, hornblende and magnetite are usually present as minor accessory minerals, and zircon, garnet, muscovite, and apatite may be present as trace minerals. Nepheline syenite is produced for glass, ceramics, and filler markets by Unimin Canada Limited at Blue Mountain, in south- eastern Ontario. Unimin acquired the former Indusmin and IMC properties from Falconbridge Ltd. in 1990. Elkem Nefelin AIS commenced production of similar products from Stjernoy Island in northern Norway in 1961. Unimin acquired this company in 1992. Nepheline has also been a byproduct of apatite mining on the Kola Peninsula for many years, and in 1951 the production of alumina from nepheline was commenced in a plant near St. Petersburg (Leningrad). There are now four plants in the Russian Republic, two smaller ones based on nepheline tailings from apatite mining and two larger and more recent plants in central Siberia using other nepheline resources. All four of these plants are integrated complexes that produce alumina for the subsequent production of aluminum metal, sodium and potassium carbonates, and portland cement. Roofing granules are produced by the 3M Company from a nepheline rock in Arkansas. In 1980 and 1989, trial shipments of nepheline syenite were recorded from new sources in Brazil and western Turkey respectively. Recent interest is also recorded for deposits in China, Saudi Arabia, and British Columbia.

Jan 1, 1994

By ERIK C. WESTMAN, JESSICA M. WEMPEN, DALLAN J. COONS, WILLIAM G. PARISEAU, MICHAEL K. MCCARTER

Safe, efficient underground mining is dependent upon proper pillar sizing. Pillar sizing is typically based on a combination of observation of prior behavior, point measurements, theory and numerical modeling. The actual stress redistribution within a pillar, while assumed for many years, has rarely been imaged. Such imaging can help confirm whether or not theoretical and numerical modeling methods agree with actual conditions within a pillar. This research presents a case study from a longwall mine in the western United States. A two-entry, gate-road yield pillar in the headgate of the mine was instrumented with seismometers and convergence monitoring stations, and was monitored over a period of about six months as the longwall face approached the pillar. In this paper, the stress distribution imaged using seismic tomography is compared to the stress distribution expected from theoretical models, geotechnical measurements and numerical models. The tomography results generally agree with those proposed by theory, convergence measurements and numerical modeling results. The agreement of the methods provides validation for the theorized stress redistribution, and this study provides further evidence that tomography can indicate the redistribution of induced stress within a mined rockmass and is another tool available to ensure that mining is conducted safely and efficiently.

Aug 1, 2022

By S. A. McGhee

ASARCO Incorporated embarked on a modernization and expansion program to improve overall operating efficiencies and to more effectively develop the large mineral reserve at the Ray Complex Open-Pit Mining operation located near Kearny, Arizona. Major elements of this Ray Modernization and Concentrator Expansion Project included engineering and construction of a 54,400 MTPD (60,000 STPD) In-Pit Crusher and Overland Conveying System. and a 24,200 MTPD (30,000 STPD) Copper SAG Concentrator and Tailings Disposal System. Detailed engineering, procurement, and construction management were initiated in November 1989 under contract with Bechtel Corporation. Field construction commenced in May 1990 leading to mechanical completion and start-up during February 1992.

Jan 1, 1993

By Leandro Augusto Viana Teixeira, Angela Avelar, Ruberlan Gomes Silva, Virginia S. T. Ciminelli, Daniel Majuste

Rare earth elements are essential for modern life products and green technologies. Recent supply constraints have boosted the development of rare earth projects after the price peak of 2011. The feasibility of a project depends on the definition of a processing route, which in turn depends primarily on the rare earth mineral, with monazite and bastnaesite representing the two most relevant minerals. Monazite-type ores usually contain high acid consumption impurities, such as iron, aluminum, calcium, magnesium and phosphates, and may also contain prohibitive levels of radioactive thorium in its composition. Based on thermodynamic analysis, the present work discusses the fundamentals of a selective process route for rare earth extraction from monazite ores with high iron content. This process involves sulfation by means of concentrated sulfuric acid and roasting at a high temperature. The route yields high rare earth extraction with low iron and thorium extraction and low acid consumption. Rare earth extractions as high as 80 percent were achieved, while iron and thorium extractions were lower than 1 percent, and acid consumption was lower than 0.34 kg of sulfuric acid per kg of ore. The operational window was compared to the one predicted by thermodynamic modeling, with 700 °C representing the optimal roasting temperature.

By Pierre Longtin

"Replacing the aging roadway access to the iconic Golden Gate Bridge, thereby ensuring traffic safety and robustness in case of seismic occurrences, provided an opportunity for major design improvements as well as the development of a parkway that would include the construction of four new tunnels. With an eye to the future, the Doyle Drive replacement project aimed to meet the highest standards for environmental stewardship beyond regulatory requirements. Understanding that lighting equipment is the tunnel‘s subsystem that uses the most energy, the operator was looking for a sustainable solution to light the tunnels. An Intelligent Lighting Control System (ILCS), designed specifically for road tunnels, was acquired to individually control the almost 2000 luminaires lighting the four tunnels. This paper will show the results in terms of energy and operational savings generated over the nine months of operation between the commissioning and the conference in April 2016. INTRODUCTION Electrical & mechanical (E&M) equipment represents an average of 10 % of a tunnel total construction cost. Once the civil infrastructure completed, E&M equipment drives the main part of the expense during a tunnel useful life. Table 1 below describes the impact of various types of energy consumption and their cost impact in tunnels of less than 500 m. It is clear that lighting is the sub-system that requires the most energy. A good lighting strategy is the key to reducing energy consumption due to lighting and a viable solution that will bring important savings in tunnel operations.With a price of $0.14/kWh in California and a planned increase between 3% and 6% per year during the period 2013-2040, the tunnel operators could not afford to overlit the tunnels—particularly when they have to operate it for the next 30 years. However, they also need to maintain the right lighting level to ensure driver safety all the time. The Presidio Parkway project includes the Battery tunnels, which are 240 m (790 feet) and 230 m (750 feet) in length, and the Main Post tunnels, which are 280 m (920 feet) and 315 m (1030 feet) in length."

Jan 1, 2016

By Gunnar Nord

Shifting ground conditions when tunnelling often call for different methods of attacking the tunnel face. In order to overcome problems with local unstable soft ground in a hard rock tunnelling project the Boodex method offers a cost effective alternative. Boodex and variants of it is a combination of two well-known techniques, drilling with Boomer rig using Odex gear. It will give a steel lined hole ready for grouting and the steel pipe has a load bearing capacity that means that a spiling effect is achieved. In this paper the method and some applications will be described with possibilities and limitations.

Jan 1, 2003

By Harold L. Lovell

Problems associated with fines (minus 6 mm, 1/4-inch) production, preparation, and utilization have long plagued the coal industry and are now more acute than ever. Continuous deep mining systems create more fines which have moisture; content greater than natural levels from dust control spraying and often add substantial levels of mineral matter due to mining selectivity constraints. Frequently, during preparation, more -fines are developed to achieve improved component liberation. Coal consumers often specify small sizes whether for carbonization, combustion, or conversion. Wet beneficiation systems process fines by several' types of unit operations, but usually must also incorporate costly and complex dewatering systems to reduce the moisture content of the products. Existing pneumatic preparation systems are constrained between product equality and yield by the sharpness of separation. These limitations become more severe with decreasing particle size and increasing feed moisture content. Control of particulate emissions, both process and fugitive, during pneumatic preparation, can be forbidding. A pneumatic preparation-process which would overcome these constraints, could be most enticing. The DryFlo system is being evaluated to quantify performance characteristics as regards these constraints.

Jan 1, 1976

By Robert Smith

Deposits are global, said Barrick Gold's Smith. This means that the mineral industry, by necessity, is global. "Manufacturers have considerable freedom to decide exactly where they wish to produce whatever it is that they sell," he said. "What we sell, on the other hand, must be produced where nature chose to lay it down. The question is not so much, whether to go global, as when to do it and how to go about it." The timing of international expansion depends on external factors, often political, Smith said, and on internal ones that relate to the company's size and stage of development. "In deciding how to expand, a company is largely deciding how to adapt its existing business strategy to activity on the world stage," he said Barrick entered 1997 with 1.58 kt (51 million oz) of reserves, Smith said, annual production of 93.3 t (3 mil- lion oz) and cash flow of $463 million. Reserves in- creased 40% in 1996 and production will begin to rise again significantly in 1999. "We believe our fundamental strategy is responsible for our early development and subsequent success," he said. Barrick entered the gold-mining industry in 1983. Its corporate mandate was to create shareholder value, Smith said. From the beginning, the company took a different approach - businesslike, entrepreneurial, strategic and focused. "Many mining companies start out with a technical team and develop business and financial expertise thereafter," Smith said. "In 1983, Barrick had the business people, and then moved into mining." First, it acquired part interest in two small operations, one in Alaska and one in Ontario. Then, in 1984, it merged with Camflo Mines, which operated a low-cost underground operation in Quebec.

Jan 1, 1997

By George L. Atwood

The Monsanto Company's Henry Mine is located 17 miles northeast of Soda Springs, in the southeast corner of Idaho. Ore being mined is phosphate rock which lies in the Permian Phosphoria formation. The ore is the raw material for Monsanto's three furnace elemental "P" plant near Soda Springs. The finished product from the furnaces is elemental phosphorus which is subsequently used in the manufacture of detergents, food preservatives, fire retardants and other consumer items. Mining is by open pit methods using 0-9 crawler tractors to rip and push-load rubber tired scrapers in stripping and mining operations. The equipment spread consists of six D-9G crawler tractors, four Caterpillar 6578 scrapers, eight Euclid S-24 scrapers, one Reich T750 drill and one Caterpillar No. 16 patrol plus various support equipment. Stripping is performed on a 12-month basis, two shifts per day. Mining is performed mainly in the summer months on a one shift basis. The hauling season begins May 15 and ends November 1 due to freezing weather and snow conditions. Annual production is 1,000,000 tons of phosphate rock and 2,500,000 to 3,000,000 yards of stripping. Stripping, mining and hauling is performed for Monsanto by Dravo-Soda Springs, a mining contractor. Dravo-Soda Springs owns, operates and maintains all equipment used in stripping, mining and hauling. The contractor is paid for stripping by the bank yard and for ore mined and hauled on a tonnage basis. The Monsanto elemental phosphorus plant began production in 1952 with ore being trucked to the plant from the Ballard Mine. Haulage was over public roads in 15, 24-ton semitrucks. A private haul road was constructed from the Ballard Mine to the Monsanto Plant in 1958 and 1959 to accommodate trucks with two twenty-yard trailers. This 11/ mile road was first used in the 1959 hauling season. In 1965, five new Kenworth tractors with two, 'forty yard trailers were introduced into the haulage system. These units carried 120 ton payloads and were used until

Jan 1, 1972

By A. G. Yapo, T. W. Camm

"Mining plays a key role in the development of modern civilization as a source of essential raw materials and provider of essential fuels, producer of jobs and a factor in support of the international balance of monetary payment (Camm, 2014). Professionals in mining locate, develop, design and manage ore deposits in an environmentally safe and profitable manner. As mineral deposits become increasingly scarce, new challenges face the industry. A current trend is to an increased emphasis on underground mining techniques for deeper deposits. Operations are safer now than before as companies understand better their work environment and the importance of mining responsibly.A continual challenge for the industry is accurately reflecting the costs and selling price of ore. An enduring characteristic of mining is the situation where the market typically determines the price of a commodity; the main control a company has on the bottom line is to control the cost of production.An attempt to bring light and clarity to the cost of their business will give a better idea to investors on the true profitability of the mining business. Gold producers face this struggle to accurately reflect the cost of production while also seeking to attract the interest of the investment community (Hill, 2013). In order to have a consistent format to report on their production costs, leading gold producers, through their alliance inside the World Gold Council (WGC), worked on the adoption of a new cost framework: the all-in sustaining cost (AISC) and all-in cost (AIC).Since 1996, the traditional cash cost reporting has focused only on the mining and processing costs incurred in mining an ounce of gold, which included the costs of goods sold (labor, energy, and consumables costs) and royalties (Table 1). But cash cost reporting ignores many important aspects, like sustaining capital, general and administrative expenses and site rehabilitation at the end of the mine life (Whelan, 2013). The cash cost was used to attract many investors into the business. In fact, the high gross margin (sales minus cash costs) has been promoted in past decades by the industry instead of the net or operating margin. As a result, even when the gold price was high, nearly $61/g ($1,900/oz) in August 2011, gold producers were not reporting excessive profits in their cash flow/income statements, to the disappointment and incomprehension of investors (Milstead, 2014). The truth was simply that the other costs omitted in the traditional cash cost were reducing the apparent profits.The disconnect led to a need for more accurate cost reporting in order to win back investor confidence and provide better understanding of gold mining economics. In 2012, the senior gold mining companies, including Gold Fields, Barrick Gold Corp. and Newmont Mining Corp., worked with the WGC to develop a new measure. This resulted in the June 2013 publication of the new framework AISC and AIC, which has been widely embraced by the sector since Jan. 1, 2014 (WGC, 2013).The adoption of the new cost template would have the dilemma of showing the real profitability of gold mine properties, which might alleviate taxes from governments and legislators, but it might also scare off investors toward more lucrative industries if not winning back their confidence."

Jan 9, 2017