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By T. R. Ellis

"In August 2013, the Appraisal Practices Board of the U.S. Appraisal Foundation issued its “APB Valuation Advisory #4 - Identifying Comparable Properties,” which contains analysis and examples that may suggest a broader meaning of the term “comparable properties” than is current convention in real property value appraisal in the United States and internationally. The advisory is directed at the appraisal of real property of all kinds, including interests in mineral properties, as indicated by the inclusion of two mineral property appraisal papers in the appendix that lists suggestions for further reading.This paper firstly reviews as background the historical meaning of a comparable property, with its perceived constraints, against real-world examples of transacted mineral properties that are adjusted to subject properties to provide market value indications. The advisory’s findings are then examined and evaluated as to whether they may influence and benefit the work of mineral property appraisers, particularly in situations where their sales comparison analyses may be challenged. The conclusion is that the combination of constraints that the advisory’s findings specify for use of the term “comparable” will for mineral properties be met infrequently or rarely. As a result, mineral property appraisers are advised to avoid using the terms comparable or “comp” when referring to transactions of mineral properties that they analyze to derive data for appraising the value of their subject mineral properties. IntroductionA mineral property appraiser rarely finds a sale of a mineral property that meets the literal meaning of the term “comparable sale,” by being directly comparable to the subject property of the appraisal in all factors of significance in the determination of the value of the property interest being appraised. Real estate appraisers have long used a more liberal interpretation of the meaning of comparable sale and its commonly used abbreviation, “comp.” Real estate appraisers compare sales to their subject property on the basis of price per hectare or acre of land and price per square meter or square foot of building floor area. Adjustments totaling to within the range of +30 to -30 percent from the sale property to the subject, before factoring in the property area, have generally been viewed as appropriate for the sale to be considered a comparable sale."

May 1, 2016

By Thomas D. Henderson

Este capítulo presenta- un "caso histórico" de los pasos a dar para estimar IDS castes de capital y operativos para un concentrador típico de cobre porfirico de ± 9;070 toneladas métricas de producción diaria. El concentrador que se describe es hipotético, pero está basado en la experiencia propia y es, en efecto, una composición de varios proyectos reales. Las cifras utilizadas son ilustrativas solamente y no representan los castes reales de ningún lavadero en particular. Estas cifras son, sin embargo, representativas de los castes tipicos de molienda en un punto en el tiempo y son to suficientemente precisas coma para iIustrar los procedimientos de estimación de castes descriIos en este capítulo, No es posible publicar cifras reales y corrientes de los castes del lavadero y, en cualquier caso, las cifras de Ios castes reales pierden rápidamente su significación en Ia actual situación económica con los rápidos incrementos de las diversas partidas que configuran los castes. El trabajo está dividido en tres partes: (1) orden de la magnitud estimada, (2) estimación def estudio de viabilidad, y (3) comparación entre los castes estimados y los castes rea¬les. Con vistas a este trabajo supondremas que una mina tiene una propiedad minera explorada mediante perforación con testigos que refleja un yacimiento, ampliamente definido, como de unas 45,3 millones de toneladas métricas con una ley del d,6°/ de sulfuro de cobre, Esta compañia desea obtener primero una estimación del orden de magnitud de los costes (canto de los costes operativos como del capital) para determinar si la pertenencia garantiza más perforación y desmuestre de testigos. Suponiendo que esta evaluación económica obtenida utiIizando Ia orden de Ia magnitud de Ios costes sea favorable, sera a continuación requerido un estudio de viabilidad más preciso de los castes de capital y operativos. Seguidamente of recemas una descripción de los diferentes pasos dadospara desarrollar ]as costes del orden de primera magnitud y a continuación para los castes del estudio de viabilidad.

Jan 1, 1982

By Luis Huere

La extracción del oro en PAD de lixiviación es una operación que cada vez se utiliza más para la extracción del metal de sus menas, esto se realiza evidentemente por los bajos costos de procesamiento por este método, entre otros motivos. La recuperación del oro es siempre baja comparada con la recuperación por lixiviación en tanques de agitación. La lixiviación de finos siempre es un problema por la canalización de la solución lixiviante y la formación de charcos o “cochas”, generando esto bajas recuperaciones y más aún ante la presencia de arcillas en el mineral perjudican aún más la recuperación de oro de estas menas.

Sep 1, 2017

By V. Mejía C.

A raíz de un informe de un estudio petrográfico de las relaciones de Casapalca presentado por el Sr Kobe, surge la idea de mejorar la molienda, reemplazando los clasificadores por ciclones. En esta perspectiva se buscó liberar los sulfuros enchapados de las partículas de minerales y asi obtener una mejor recuperación. En Casapalca, el aumento de molienda y la instalación de un nuevo molino, permitió que se desarrolle dos nuevos proyectos: la molienda inicial de la carga alimentada y una remolienda de las partículas gruesas en el circuito de flotación de bulk con retorno del material remolido a la cabeza de bulk, concluyéndose que esta última remolienda, generaría un aumento en el consumo de reactivos, elevando el costo de tratamiento. Por tal motivo, se lo descartó y se utilizó la molienda inicial fina.

Jul 20, 1961

By R. E. Mitchell

Los proyectos mineros son revisados por medio de dos estudios: el primero es el Estudio de Impacto Ambiental (EIA) que evalúa proyectos mineros e industriales propuestos para obtener una programación reglamentaria y así ayudar al plan de desarrollo responsable de las compañías. El segundo sistema de evaluación es el Estudio de Impacto Social, Ambiental y sobre la salud (ESHIA) , cuyo enfoque es más inclusivo y comprensivo para evaluar potenciales impactos. En este sentido, el presente texto describe las normas de EIA para la provincia Alberta (Canadá) al tiempo que realiza un análisis comparativo entre el EIA y ESHIA.

Oct 1, 2012

By Brian P. Canning

Ion exchange resin processes are receiving renewed attention in the mining industry for recovery;, of metals from solution. This interest has been inspired by the development of continuous countercurrent ion; exchange systems (CCIX) which are of much lower cost than the original, fixed bed contactor processes. With the countercurrent systems and new developments to process or upgrade the eluate product, ion exchange can now compete successfully with solvent extraction for treatment of uranium ores. The low concentration of U308 obtained in the CCIX strong eluate is generally upgraded by solvent extraction methods in sulfuric acid systems. Resin loadings of up to 120 grams per liter of U308, however, have been produced experimentally by recycling of eluate (HIM-IX process) and further developments may be expected in the near future. New developments in resin technology are bringing forth products of greater strength, loading capacity, selectivity and density. Densities up, to 1.35 spgr have been claimed by some suppliers. The process is not a new one and has taken years to advance to the present state of development. The earliest system to gain widespread acceptance was the resin-in-pulp system applied to uranium recovery. Ion exchange, however, later lost acceptance in favor of solvent extraction in the 1960's due to problems in resin degradation, resin contamination and resin-pulp separation, in addition to the development of improved solvent extraction reagents and techniques. The resin-in-pulp system continues to have application on high clay ores and has advanced in design. A number of other continuous ion exchange systems were also tried but never gained continued acceptance. In the current resurgence period the CCIX systems to gain acceptance were the Utah and Chem-Sep (Higgins Loop) systems. These processes are relatively simple in concept although require sophisticated controls. Fixed bed columns have also been designed into multistage systems in countercurrent operation but are not discussed in this paper. These systems remain competitive today for many applications. The most recent advancements however have been in the multistage contactors from,, which three are in current acceptance. These are the Himsley, Porter, and NIM systems. All industrial applications of these systems are relatively new, although pilot plant and in-plant development has been in progress over the last decade. Fur36ther developments should be expected in the near future.

Jan 1, 1979

By J. Matos e Silva

The paper refers five examples of executed diaphragm walls with one to five levels of anchorages. For each example a comparison is made between the results of the design using the traditional criteria and the Eurocode 7 recommendations. A comparison is also made with the behaviour of the diaphragm walls during the construction phase. From the referred examples the author presents his conclusions.

Jan 1, 2002

By J. Matos e Silva

"Abstract The paper refers five examples of executed diaphragm walls with one to five levels of anchorages. For each example a comparison is made between the results of the design using the traditional criteria and the ones obtained by using the Eurocode 7 and the Portuguese Norm related to the EC7 (NP EN 1997-1 2010), as the Eurocodes consider the possibility of each European country to adopt their own geotechnical parameters as these may vary from one country to another. A comparison is also made with the behaviour of these diaphragm walls during its construction phase; so the values from the design that were adopted in the construction are listed in tables 2 to 6 in the “Construction Options” columns. From the referred examples the author presents his conclusions.1 - INTRODUCTIONIn the so-called “traditional criteria” the soil parameters (dry unit weight, angle of internal friction and cohesion) have values obtained through tests or empirically. It is assumed that the characteristic values of the soil parameters adopted in Eurocode 7 are equal to the soil parameters adopted in the calculations by the “traditional criteria”. In the present paper the design according to the EC7 was made considering only the ultimate limit states and the respective Cases A1 and A2.The partial coefficients used for the actions in the present paper were those on Table 1:2 - CONSIDERED EXAMPLESThe five examples correspond to the situations of figures 1 to 5, and the respective results are summarized in tables 2 to 6.For all the considered examples, that are case histories, a simplified method published by Matos e Silva (March 2000) was adopted. This method attains good performances when compared with other more sophisticated ones as the finite elements and the elasto-plastic methods as described in a paper published by Matos e Silva (2000). All the obtained values were compared between them and with the so-called “Construction Options” that were the values adopted by the designers of the considered examples. For the wall bottom length calculation two possible situations were envisaged:"

Jan 1, 2014

By M. Tokoglu

Accurate estimation of resources is one of the major challenges in mineral project evaluation. Contemporary mineral resource estimation practice calls for contribution from several disciplines and execution of several interdependent tasks. 3D estimation domain modelling is obviously one of the most essential components of such a substantial process which forms the basis of this research. The study constitutes a comparative analysis of four major domain modelling techniques; (i) explicit modelling, (ii) implicit modelling, (iii) indicator kriging, and (iv) conditional simulation. It involves comparison of outcomes for alternative scenarios to assess the implications of the modelling decision on resource estimates of a polymetallic massive sulfide deposit located in western Turkey. Thus, identical grade estimation method and parameters are considered to identify the discrepancies arising only from the choice of the domain modelling approach and underlying assumptions. Economic implications are demonstrated in the form of range of outcomes for the extends of the ultimate pit, ore tonnages (min:37.0 Mt, max: 46.7Mt), waste tonnages (min:201.2 Mt, max: 251.2 Mt), stripping ratios (min:5.18, max: 5.71), and total pit values (min: $1.05B, max: $1.45B). Examination of solid models as well as cross-sections revealed that major discrepancies are observed beyond outlying drillholes. Therefore, it has been proposed that assumptions regarding extrapolation distance is the main source of mentioned dissimilarities. Key words: Domain modelling, explicit modelling, implicit modelling, indicator kriging, conditional simulation INTRODUCTION Resource estimation is apparently a challenging process calling for extensive expertise and input from several sources, each of which introducing its related uncertainties. In the last decades, substantial role of quantitative analysis of several forms of risk and uncertainty in evaluating projects’ upside potential and downside risks has been realized. Studies indicated that mining companies have been severely impacted because of not meeting project expectations. As noted by Vallee (2000) “… in the first year of operation after start-up, 60% of mines surveyed had an average rate of production less than 70% of designed capacity”. Several other studies on mining projects also revealed that uncertainties related with the resource model are one of the major contributors of mentioned shortfalls. In this perspective, quantification of uncertainties associated with each component of estimation process is critical. 3D estimation domain models capturing major mineralization controls are the fundamental components of contemporary mineral resource estimation. Domain models are key guiding tools for estimation and are products of a complex process involving many unknowns and assumptions. There exists a number of 3D modelling alternatives which are distinct with respect to complexity, time and effort involved. Acknowledging potential influences on downstream mining practices and relavent economic implications, risks and uncertainties associated with 3D domain modelling are critical yet poorly studied aspects.

Jan 1, 2019

By Sunil Jain, Jan M. Mutmansky

As coal mining evolves in this country, underground coal is being mined at greater depth and under more difficult conditions than in the past. At the same time, economic conditions make it necessary to mine more efficiently and economically. As a result, pressures on mining companies arise on two fronts and make the job of mining coal underground very difficult. Recent improvements that have been made in health, safety and productivity have come about primarily due to improvements in existing technology and better management of all the production resources. However, this trend can continue only so far and thus innovation will be needed to continue the improvement. This paper deals with a concept that, on the surface, appears to be more efficient in terms of the costs to provide ventilation. The resulting design is oriented toward increasing the ventilation efficiency through use of a unidirectional ventilation plan but it also promises to increase recovery and decrease the requirements for development entries. To analyze this ventilation concept, two mine layouts with a similar production schedule were planned in a hypothetical 1.83 m (6 ft) coal seam. The first alternative analyzed uses a traditional approach to ventilation with centrally located shafts and a bidirectional ventilation pattern. Using this system, it is necessary to use large-diameter shafts and a large number of main entries. Using the same assumptions on ventilation requirements, the second alternative utilizes unidirectional ventilation whenever possible, a smaller number of main entries and small-diameter blind-bored shafts in the bleeder areas. The comparative analysis is performed using PSU/TDMVS, a computer network analysis program that is capable of determining the ventilation power requirements at any time in the mine life and converting the costs to a present value. The economic analysis is then completed by including the shaft-sinking and entry-driving costs and the costs associated with the recovery of coal that are directly related to the change in the ventilation system. The results are summarized on a present-value basis.

Jan 1, 1987

By Malcolm J. Lake, P. Brad Marchant, Linda M. Broughton

Thiourea is recognized as a technically competitive alternative to cyanide for gold and silver extraction for a variety of ores and concentrates. This paper describes the results of a recent mini-pilot locked cycle test comparing cyanidation with acidothioureation treatment of gold bearing sulphide concentrate. The gold extractability of both methods was similar. The comparative metallurgical operating conditions and test results are summarized. Detailed byproduct solution analyses and environmental toxicity test results are presented and suggest that thioureation might result in acutely toxic byproducts even after treatment. Comparative process economics are summarized based on preliminary commercial operating flowsheets derived for the locked cycle case study. Capital and operating cost estimates are shown. The results indicate that cyanidation is more economically favorable within the constraints of the case study. Considerations for process selection between thioureation and cyanidation, for conceptual case studies, are discussed.

Jan 1, 1998

By Pedro Madureira, Georgy Cherkashov, Harald Brekke, Marzia Rovere

"The most promising deep-sea mineral resources for exploration in the Area (beyond the limits of national jurisdiction) are polymetallic nodules, cobalt-rich ferromanganese crusts and polymetallic sulphides. These marine minerals have different characteristics in their distribution, geological setting, grades of metals and genesis. Considering future exploitation of nodules, crusts and sulphides such parameters as estimated resources, specific mining operations and ore processing are different as well.Comparative analyses of deep-sea mineral minerals as well as onshore and offshore resources will be discussed in the paper."

Jan 1, 2017

By P. Zhang

The results of bench-scale testing of five flotation processes for the separation of dolomite from phosphate are discussed. Each process is compared in terms of phosphate recovery, MgO content of the concentrate and reagent consumption. Water quality was found to play a major role in the performance of these processes. The effect of water hardness, in addition to other parameters, are discussed.

Jan 1, 1997

By Mokka N. Rao

In this experimental investigation, the principal operating parameters of the spirals HC 1870 and HG 8/7 are determined for the hydrogravimetric separation of the friable siliceous iron minerals of the Piar Distric, Venezuela. Mineralogical characterization including optical microscopy of feeding materials and the products after separation are presented. Comparative analysis is made of effectiveness of productivity between the two spirals.

Jan 1, 1999

By Matthew J. DeMarco

Research personnel at the U.S. Bureau of Mines have conducted longwall gate stability studies at four western U.S. mines attempting to employ yield pillars for improved ground conditions. Located in the Book Cliffs and Wasatch Plateau coalfields of north-central Utah, these operations are generally characterized by multiple-seam mining, cover depths averaging 450 - 600 m (1,500 - 2,000 fl), occasionally extending beyond 760 m (2,500 ft), abrupt cover depth variation due to the overlying canyon/mesa topography, and massive, rigid sandstone roof units. Such conditions encourage severe gate and panel coal bumping, as well as various types of roof instabilities and occasional floor-heave problems. To alleviate these adverse conditions, several mines have employed yield pillars to-reduce hazard-inducing excessive gateroad stress concentrations. This paper describes the evolution of gateroad designs at four of these operations, the specific mining conditions involved, and the general stability performance attained by using yielding gate systems. Mine experiences are "compared" in terms of basic setting conditions, and the general concepts of yielding system applicability and success potential are summarized.

Jan 1, 1993

By T. Klemetti

Moisture deterioration of clay-rich roof rocks causes high numbers of roof falls in coal mines in humid summer months. Rocks with high moisture content are generally weaker and can further deteriorate when subjected to wetting and drying cycles. As a result, it is important to evaluate the moisture-sensitivity of roof rock prior to mining. The National Institute for Occupational Safety and Health (NIOSH) has evaluated three moisture-sensitivity index tests on roof rocks from 23 U.S. coal mines. The three tests were the University of Kentucky Weatherability test (Weatherability test), the Consol Energy Water Sensitivity test (Water Sensitivity test), and the NIOSH Immersion test (Immersion test). Of these three tests, the Weatherability and Water Sensitivity tests are more reliable in classifying the moisture-sensitivity of roof rocks. Disclaimer: The findings and conclusions in this report have not been formally disseminated by the National Institute for Occupational Safety and Health and should not be construed to represent any agency determination or policy.

Jan 1, 2009

By J. Ke

Traditional geostatistical methods have been used in ore reserve estimation for decades. Neural Networks (NNs) have provided an alternative approach to data analysis and ore reserve estimation. Unlike the traditional geostatistical methods, neural network uses a highly non-linear complex algorithm to do the estimation. Although Neural Networks have been demonstrated to be attractive alternatives as with every new techniques, there are questions which remain unanswered. This paper presents a comparative analysis with different types of metamodeling approaches -- Triangular, Kriging, Spline, and Neural Network. The neural-network is organized in a multiple-layers and Back-propagation model is used to handle the non-linearity and hidden slabs for smoothing the predicted results. With multiple dimensional and very noisy drill hole sample data, the ore grade is predicted and the overall performance is validated by the analysis of R-squared (R2), Root-Mean-Squared (RMS), and contours of ore grade spatial variability. The ore grade and tonnage of estimated outputs are also compared with various cut-off grades.

Jan 1, 2003

By M. Visnjic

Open Pit Mine Production scheduling under commodity price uncertainty suffers from an exponentially increasing problem size as simulations and real options flexibility are used to generate and evaluate multiple production schedules. Robustness evaluation techniques attempt to evaluate a production schedule that is generated on a single set of economic parameters against several varying prices and sources of uncertainty. This approach is invalid as the corresponding optimal LOM mine plan will change for each set of evaluation parameters. Using commodity market futures and treasury bonds as production schedule economic input parameters provides fully price and time-value-of-money risked scheduling parameters that maintain a deterministic problem size. This paper will provide comparative analysis of project NPV’s coming from traditional price uncertainty evaluation based on a single fixed LOM mine plan using varying prices versus evaluation based on varying LOM plans that are both generated and evaluated using varying prices. When cross evaluating constant price mine plans against simulations, the upside potential and downside risk of a project are significantly misrepresented. INTRODUCTION The life of mine (LOM) production scheduling problem seeks to answer the question of from where and when to extract a given block within the ultimate pit limit as well as where and when to process it. Solving this problem takes into account the constraints of extracting any particular block while seeking to maximize the net present value (NPV) of the mineral asset as a whole. A direct driver of the value of a block, and there for the entire asset, is the market price of the commodity in question. Complications arise when an optimal production schedule is attempted to be solved under price uncertainty. Many solution methodologies have been proposed in an attempt to optimize under this criterion, yet there are three salient aspects that are overlooked during this process. They are: • Generating a single production schedule and evaluating it against many simulated price paths. • Failing to understand the mechanism describing particular commodity price behavior • Inappropriate risk adjustment In an effort to address these aspects of production scheduling under commodity price uncertainty, we propose a methodology to define the economic parameters as input that is applicable to most if not all production scheduling approaches. This methodology will not only simplify the production scheduling process in terms of establishing block value but utilizes the risk adjustment of real options valuation to avoid the arbitrary blanket risk adjustment of traditional discounted cash flow valuation. Our findings conclude that attempting to optimize around individual price paths is futile and using a market risk adjusted single price forecast provides a justified economic basis for production scheduling while maintaining the same problem size as a deterministic production scheduling problem.

Jan 1, 2019

By Dario Bernabe

This paper evaluates four open pit mine scheduling programs recently developed and compares them in order to determine if significant differences exist among them. The same input data, which consist of a 3-D block model, an economic set of parameters, and the initial surface topography for a operating copper mine in Southern Peru, was used to test each technique.

Aug 25, 2002

By D. Bernabe

The mine scheduling process defines a mining sequence across the life of the mine and stipulates the amount of ore, waste, and specific blocks to be mined each year so that the highest economic return can be obtained under a number of constraints. There are a number of mine scheduling software packages available. Each claims to be the best scheduler by maximizing Net Present Value (NPV) or by minimizing overall mining costs. These mine scheduling programs follow different procedures and scheduling philosophies based on either mathematical or heuristic principles. There was no study in which the mine production scheduling procedures applied by these packages were discussed and compared. This paper evaluates four open pit mine scheduling programs recently developed and compares them in order to determine if significant differences exist among them. The same input data, which consist of a 3-D block model, an economic set of parameters, and the initial surface topography for a operating copper mine in Southern Peru, was used to test each technique. The following programs were investigated with respect to their ability to optimize the NPV for the case study. 1) M821V1 Scheduler by Mintec; 2) NPV Scheduler by Earthworks; 3) Milawa Scheduler by Whittle Programming; and, 4) Fundamental Tree Scheduling Method (FTSM) developed at the Colorado School of Mines. The results from this case study demonstrate that the scheduling software packages, Mintec, Earthworks, and Whittle obtained similar NPV’s, while FTSM scheduler gave a six percent higher NPV than the other schedulers.

Jan 1, 2002