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This document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measures under United States generally accepted accounting principles ("US GAAP"). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at the applicable projects and do not include production costs attributableto accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company's total cash cost per ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company's historical results of operations is set forth in the notesto the financial statements included in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2009, as well as the Company's other filings with the Canadian Securities Administrators and the SEC.

May 1, 2011

By G. Warren

"In the past, smelting and refining of the precious metals recovered from ore has been generally looked upon as a small and relatively minor component of the business of gold mining. This is not surprising when one considers that the manpower, space and capital components of a gold refinery at an operating mine can be several orders of magnitude smaller than other unit operations at the same location. This philosophy is changing however, as economic and environmental pressure are forcing a re-evaluation of all aspects of gold mining and milling.This paper describes and evaluates three furnace technologies available and used by precious metal operators. The operation of arc, induction, and reverberatory furnaces are discussed and their strengths and weaknesses with respect to capital cost, impurity removal, slag quality, and environmental concerns highlighted.INTRODUCTIONIn the past, smelting and refining of precious metals recovered from ore has been generally looked upon as a small and relatively minor component of the business of gold mining. This is not surprising when one considers that the manpower, space, and capital components of a gold refinery at an operating mine can be several orders of magnitude smaller than other unit operations at the same location. Generally, gold producers will spend a great deal of effort to squeeze the last drop of efficiency out of a leach or grinding circuit via simulation or testwork but will design and build the refinery based upon past practices or industry standards. That past practices or industry standards will provide a functional refinery is undisputed; that this philosophy achieves the efficiencies that are possible or demanded in other plant operations is debatable.Environmental and worker hygiene requirements are considerations as well. Pollution control equipment can become a substantial contributor to both the capital and operating costs of a refinery and furnace selection has a marked influence upon the type and cost of this equipment. Slag characteristics and subsequent processing options available also play a role in furnace selection as precious metal slag losses and the recovery effort can greatly influence the cost / benefit analysis of a particular technology."

Jan 1, 2001

By G. Goodall, R. Jabbar, S. Muinonen, A. Cummings

"Glencore’s Sudbury Integrated Nickel Operations in Falconbridge, Ontario, has been in operation since 1930. Many new technologies and practices, now common in the industry, have been implemented at the site and contribute significantly to the industry’s understanding. Since the last update on the Smelter operation published at the NiCo 2005 conference, the Converter Aisle has undergone significant changes in the operation of vessels. The Aisle continues to consist of 4 Peirce-Smith converters, but the Slag-Make Converter, and the Slag Cleaning Vessel have been re-tooled or re-built as Hybrid Vessels (HV), each generating matte for the two Finishing Converters and clean slag for disposal. The complicated scheduling and the overall benefits to the Smelter are reviewed here as part of the on-going tradition of industry support.INTRODUCTION The Glencore Nickel Sudbury Smelter operates a Roast Reduction Smelting (RRS) flow sheet with a specialized Converter Aisle operation that maximizes metal recovery to Bessemer matte. The main process equipment consists of a pair of Fluid Bed Roasters, a submerged-arc Electric Furnace and four Peirce-Smith converting type vessels (Figure 1). In the RRS flow sheet, concentrate is roasted with air to remove sulphur as SO2. Calcine from the Roasters is mixed with petroleum coke upon addition to the six-in-line rectangular Electric Furnace. The coke back reduces the metallic oxides, producing a matte and a discard slag.Gases from the Roasters are sent to a single pass absorption Acid Plant where the SO2 is converted to acid. Under the previous operating targets, approximately 70–75% of the sulphur in the incoming concentrate was fixed as acid with the balance going to the Electric Furnace in calcine for Bessemer matte production. Off-gases from the Electric Furnace and Converters are combined in a balloon flue, treated for particulates in electrostatic precipitators and discharged to the Smelter stack without any SO2 fixation."

Jan 1, 2017

By Robert B. Parsons

"New tax rules that can apply to the repayment, extinguishment, or other settlement of a company's debt are finally taking shape. These new rules are far-reaching in their application, and can affect mining companies in a serious, negative way.IntroductionIn his February 1994 budget, Finance Minister Paul Martin announced changes to the Income Tax Act that could have an adverse impact on a company that restructures its debt. Since then, the new rules have undergone considerable transformation during their fetal stage: draft legislation was introduced in July 1994; revised draft legislation was introduced December 1994; and a third version of draft legislation was introduced February 1995. It seems that the new rules have now been pretty well finalized, and they contain some serious traps that the unwary could fall into. The new rules are of particular importance to mining companies, because a mining company's resource pools will be caught under the new rules, whereas these pools escaped the wrath of the old rules. The following commentary summarizes the new rules that are generally referred to as the ""debt forgiveness"" rules."

Jan 1, 1995

By M. J. Michaud, M. J. Lavigne

"A cornerstone of any successful mining project is an understanding of the mineral assemblage and metal distribution comprising the deposit. Knowledge of the precise mineral/ metal zoning enables an operation to utilize different mining and processing methods optimized for different parts of the deposit. The Lac des Iles mine, located in northwestern Ontario, is one operation that depends on a good understanding of these issues. Current resources for the Roby Zone total 94.1 Mt grading 1.66 g/t Pd, 0.18 g/t Pt, 0.14 g/t Au, 0.062% Cu, and 0.053% Ni.The Roby Zone occurs within the gabbroic portion of the Lac des Iles intrusive complex and consists of three compositionally and texturally different ore types with variable PGE, base and precious metal contents. PGE occur as sulphides and bismuthotellurides in net-textured sulphides, coarse sulphide blebs and as finegrained inclusions within secondary silicates.Knowledge of the precise mineral/metal zoning has directly and indirectly improved several operational aspects, including resource modelling, mining, and processing. For example, metallurgical recoveries have been increased by up to 3% to 5% and concentrate grades have increased by up to 100%. IntroductionLac des Iles Mines Ltd., a wholly owned subsidiary of North American Palladium Ltd., owns and operates a 3000 t/d open pit mine and concentrate facility, located 100 km north of Thunder Bay in northwestern Ontario. The Lac des Iles PGE-gold-copper-nickel mine has been in commercial production since 1993 and in 1997, produced 1.8 million grams of palladium, 127 000 g of platinum, 114 000 g of gold, 438 000 kg of copper and 354 000 kg of nickel (North American Palladium Ltd., 1998).Under the Industrial Research Assistance Program (IRAP), a two-year study of the mineralogy of the Roby Zone was undertaken with a goal of improving the profitability of the mine. Geological mapping, petrography and geochemistry of the Roby Zone were completed during this study. Utilization of the detailed mineral/metal zoning identified as part of this study was implemented at the mine and shown to positively impact many operational aspects including mining and processing."

Jan 1, 2003

By Louise Pearce

?Environmental and social impact assessments (ESIAs) are: ??process-driven and scientific processes ??The process entails a number of steps and procedures which result in obtaining a licenceto operate ?and moving more towards a social license to cooperate. ?However, the primary premise of ESIA is to facilitate the consideration of environment and the communities in planning and decision-making which would ultimately make it possible to arrive at decisions that are ?sustainable?. ?Hence, ensuring the development of the mining sector on a sustainable basis is a critical challenge that needs to be addressed by the global community.

May 1, 2011

By Harry Siewert

"The commissioning of the 4th concentrator (C4) at Freeport Indonesia in early 1998 increased total mill throughput from 130k to 230k tonnes per day. The C4 flowsheet consists of a single 38 ft diameter SAG mill, four 24 ft diameter ball mills followed by four banks of 4,500 ft3 WEMCO flotation cells.The design of the C4 rougher flotation circuit was based on the expectation that the copper and gold recoveries achieved with the 4500 ft3 flotation cells would be equivalent to or better than that achieved with the 3,000 ft3 flotation cells in the 3rd concentrator (C3) rougher circuit. This assumption was due to the fact that the C4 flotation feed size would be less than 15% +212 microns compared to the C3 rougher flotation feed size of less than 23% +212 microns. By mid 1998 it had become apparent that the C4 rougher flotation copper and gold recoveries were below those predicted.In order to determine the cause of the lower recoveries, stage by stage rougher flotation surveys were performed in all four concentrators. The results of the surveys showed that the C4 rougher flotation circuit had a lower recovery of +200 micron material than that achieved in the C 1, C2 and C3 concentrators. Through mineralogical analysis, it was determined that a majority of the copper contained in the +200 micron fractions was liberated and recoverable. This paper describes the steps taken to increase coarse particle recovery, overall plant recovery and the results achieved."

Jan 1, 2001

By Larson. William

What is Lunar In-Situ Resource Utilization (ISRU)? ISRU involves any hardware or operation that harnesses and utilizes ?in-situ? resources to create products and services for robotic and human exploration In-Situ Lunar Resources ???Natural? Lunar Resources ??Discarded Materials Lunar ISRU Products and Services ??Excavation, Site Preparation, and Outpost Deployment/Emplacement ??Mission Consumable Production ??Outpost Growth and Self-Sufficiency Benefits of ISRU ??Increased science and exploration hardware (instead of consumables) ??Increased safety, crew exploration time, and self-sufficiency ??Technology spin-in/spin-offs help recycling on Earth & space economy

May 1, 2009

By Roy O. Ifill, W. Charle Cooper, Alan H. Clark

"Queen’s UniversityIn representative, run-of-mine samples from the Panel and New Quirke mines of the Elliot Lake uranium district, Ontario, brannerite, ametamict uranous titanate, occurs in microscopic grain-aggregates which display wide variations, both in textural habit and in the relative proportions of brannerite, titania polymorphs and/or “uraniferous titania”. As is widely documented, much of the brannerite occurs as trellis-like arrays of laths and needles pseudomorphing rutile oranatase. In some cases, the laths and needles are cemented by coffinite. Brannerite, with an average composition of (U0.629Th0.039Ca0.20)(Ti2.199Fe0.13)O69contains =3 wt% Th and is distinctly Ti-rich relative to the ideal composition, UTi2O6. Much of the Si reporting consistently in electron microprobe analyses (between 1 wt%and 5 wt%) is tentatively attributed to contamination by the quartz-sericite matrix, and a minor proportion is attributed to the presence of coffinite intergrowths. “Uraniferous titania” (average par-tial composition by weight: 10.8% U, 0.3% Th,32.9% Ti) is considered to represent an intermediate stage in the conversion of titania to brannerite.The leaching behaviour of brannerite in its different modes of occurrence was studied qualitatively by the rotating-disc (polished section) method in H2SO4and HCl solutions at 25° to70°C. Redox potential was not measured. The progress of the dissolution of the individual brannerite crystallites and grain-aggregates was monitored by optical and scanning electron microscopes. Regardless of its morphology and texture (laths or needles, reticulate or blocky),brannerite is not readily leachable. Regardless of the process conditions, the rate-controlling step appears to be the initial leach-pit formation. These pits expand radially through the aggregate as leaching proceeds. This dissolution mode is independent of the relative amounts of brannerite and titania, i.e. the type of grain-aggregate. Secondary coffinite intergrowths are readily leachable and enhance the overall leaching kinetics of brannerite by accelerating leach-pit formation. These data provide, for the first time, information on the controls on the leaching of the uraniferous phases which dominate the lower-grade ores in the Elliot Lake district."

Jan 1, 1996

By Andre Vien, Jean-François Dupont

"Over the past several years, Svedala has developed a continuous charge monitor (CCM) for tumbling mills. It consists of a strain gauge embedded into a rubber lifter and associated electronics. This paper describes the installation and use of such a device on a SAG mill at the Holt-McDermott Mine. Comparison to measured static volumetric load and bearing pressure and inclusion of the measurement into a control strategy and its potential for condition monitoring is discussed. INTRODUCTIONWhile the measurement of load is very important in all kinds of grinding applications, the biggest benefits are expected from AG and SAG milling. This is what motivated Holt-McDermott to take a closer look at this problem, with a view to optimizing SAG mill performance.In many cases, the SAG mill control problem can be stated as maximizing throughput while avoiding a volumetric overload, with the other constraints (e.g. power, grind size, upstream/downstream equipment constraints, etc.) playing a less important role. This is certainly true at Holt-McDermott where the SAG mill is the production bottleneck about 90% of the time, and anything that can be done to increase SAG mill throughput will have a significant impact on operating profit.Although the goal of maximizing throughput while avoiding volumetric overload is simple to state, it has proven to be much more difficult to achieve. The mineral processing industry has expended a great deal of time and effort to devise control strategies in the pursuit of this objective. While much progress has been made, there is still room for considerable improvement. Across the industry it is probably fair to say that overloads occur relatively infrequently, but the real losses accrue as a result of the tendency to run rather conservatively."

Jan 1, 2001

By Brad Ross

? Value in number of children ? Polygamy common ? Support of extended family and friends ? HIV/AIDS ? Not a culture of savings ? Minimal mechanical experience ? Supportive ? Unintended hindrance ? Mining claims ? Export Permits Lack of funding

May 1, 2011

By Manqiu Xu, Pete Winn, Steve Wilson

"In the flotation of ultramafic ores at Thompson mill, Inco Limited, CMC is used as both a floatable rock depressant and electrostatic serpentine slime dispersant. CMC, being a high molecular weight polymer, creates a serious handling problem in its introduction into the flotation processes. Typically, it is added as a 1-3% solution. This requires an enormous handling facility and makes its metallurgical gains uneconomical.Laboratory studies have shown that dry CMC addition as opposed to wet addition is feasible, as long as sufficient conditioning time is provided. Dry CMC addition into the grinding mill is also possible but its effectiveness is slightly reduced as compared to dry addition after grinding mills. Dry CMC addition using a vibratory feeder into the mill discharge is successfully applied in the treatment of ultramafic ores at Thompson mill.INTRODUCTIONManitoba Division MineralogyAt Inco’s Manitoba Division, two distinctly different sulphide ores are processed at the Thompson mill - primarily by froth flotation. The Thompson and Birchtree mines are both located within the Thompson Nickel belt. Sulphide mineralogy is relatively simple and includes both hexagonal and monoclinic pyrrhotite, pentlandite and minor chalcopyrite hosted in metasedimentary and metavolcanic rocks. The significant difference between the two mines is the amount of ultramafic rock associations in the host material. Increasingly, more of the ultramafic associated ores from the Birchtree mine are being processed through the mill with a characteristic poor metallurgy."

Jan 1, 2000

By P. Keating, J. Goutier, J. Ayer

"New, high-resolution geophysical surveys were undertaken over parts of the Abitibi Subprovince, Canada, to help with geological mapping and to promote mineral exploration. Gravity surveys in the Rouyn-Noranda and Matagami areas (Québec) allowed better 3-D mapping of important geological structures, and a multiscale edge analysis of ground gravity data over the Blake River Group confirms that major faults behave at depth as predicted by surface geology. Airborne gravimetry west of Matagami (Québec) helped to identify a new trend south of Lake Grasset that is almost perpendicular to the assumed geological trend of the area. Electromagnetic (EM) surveys, flown in the Chibougamau (Québec) and Bartlett Dome (Ontario) areas, allowed new conductors to be identified at greater depths than were achievable with previously used EM systems. Airborne magnetic surveys were flown in the Burntbush area (Ontario), and other available high-resolution magnetic data were compiled to produce a continuous and homogenous magnetic grid of the Abitibi region.The resulting compilation map clearly shows the locations of dikes, faults, and shears zones, and reveals some fault extensions in areas of extensive overburden. This grid also allows the computation of enhanced maps, such as vertical derivative and tilt maps (e.g., a tilt map shows subtle magnetic features in the Blake River Group that are difficult to see in the total magnetic field or its first derivative). Results from these new surveys show there is considerable value in (1) resurveying areas covered by older surveys, and (2) recompiling data sets from these older surveys."

Jan 1, 2012

On the 26th of June 2000 a hydraulic fill retaining barricade failed at the Bronzewing mine in Western Australia. The barricade failure resulted in the release of 19,000 m3 of saturated hydraulic fill into the mine and caused the deaths of three miners. Following this tragic accident, the practices and procedures of mines using hydraulic fills came under intense scrutiny by regulatory bodies and mining companies. At this time, the use of hydraulic fill at Normandy?s zinc/copper Scuddles mine was suspended and waste rock became the sole backfill material in use underground. By 2003, development of the adjacent Gossan Hill mine had progressed to a point where a self supporting fill material was required to enable full recovery of high grade ore. Cemented hydraulic fill (CHF) was identified as the optimal fill type and work began on designing appropriate management procedures and controls to ensure the safe implementation. This work included definition of the fill properties, plant design and construction, reticulation system design, design of stope barricades and drainage systems and fill placement control and monitoring practices. CHF placement began on 16th July 2004 and has continued to date. Significant operational experience has since been gained in areas including plant performance, fill product quality assurance, barricade construction, stope drainage and in-situ performance.

May 1, 2007

By Frank B. Amon

Highland Valley Copper had to make some significant changes in the way it was working in order to counter the effects of ever-increasing costs and decreasing metal prices. A mine/mill optimization plan started in 1997 introduced new technologies and management approaches that resulted in a dramatic drop in cash breakeven costs. The changes involved employee training, added authority and responsibility for staff, better communications, and a consistent approach to setting and achieving property-wide goals. The net effect was to change the culture of the organization from one that was fragmented and focussed on local objectives to one that is cohesive and has common goals. These changes have allowed the mine to remain in business during a protracted period of low metal prices, and have positioned the mine favourably to benefit even more from any future increase in prices.

May 1, 2004

By P. Lefebvre, J. Sargent, K. Major, B. Darnton

"Stillwater Mining commenced mining operations at Nye, Montana in 1987 for the recovery of platinum and palladium. Exploration identified that the J-M Reef extended for 43 km. In 1998 Stillwater Mining made the decision to develop the East Boulder mine complex, located approximately 13 miles from the Stillwater mine complex at Nye, to increase production. This paper describes the design, construction, and start-up of the East Boulder process plant.INTRODUCTIONStillwater Mining Company have been producing Platinum and Palladium from their Nye, Montana operations since 1987. The mine production from Nye had been increased in stages with mine production being delivered through several portals and one vertical shaft.The deposit is narrow veined which prevents the application of bulk mining methods and thus limits the production capabilities.In order to increase the production of platinum (Pt) and palladium (Pd) Stillwater made the decision to access the ore from the J-M Reef from the East Boulder site. The East Boulder mine site is located about 21 km (13 miles) from Nye, however as shown in Figure 1, the travel distance is closer to 188 km (114 miles). Distance, on strike, and space availability at Nye precluded the expansion of the Nye concentrator to handle the increased mining rate and supported the decision to install a new concentrator at East Boulder."

Jan 1, 2003

By Stephan Buys, Dan Curry, Chris Rule

"The use of fine grinding (FG) in mineral processing is well established. The application of FG in the South African platinum industry is more recent and it’s use in the recovery of PGM’s from dormant tailings dams is unique. Anglo Platinum uses IsaMill FG technology at their Western Limb Tailings Retreatment project (WLTR) near Rustenburg in the North West Province of South Africa.In December 2003, Anglo Platinum commissioned the first purpose built tailings re-treatment facility for PGM recovery in South Africa. The concentrator re-treats Merensky ore tailings from concentrators that operated early last century. The WLTR facility takes advantage of modern technology, such as FG, to economically recover PGM’s from material historically considered as waste. The WLTR concentrator has a capacity of 4.8 Mtpa, and has been designed to easily expand to 10.8 Mtpa. The flow sheet includes recovery of tailings by high pressure water monitoring, ball milling, rougher flotation, rougher concentrate regrinding and cleaner /recleaner flotation.The rougher concentrate is reground in an IsaMill, which is a stirred mill that operates with inert silica sand grinding media. For this project, Anglo Platinum required a stirred mill of a unit size not previously available. Xstrata Technology and Anglo Platinum collaboratively developed the largest wet, fine grinding mill available; the M10,000, 2.6 MW IsaMill.The use of IsaMill technology was enabling for the WLTR project, as it allowed smeltable concentrate grades to be produced from the oxidised, slow floating tailings. The economics and practicality of fine grinding has fundamentally changed with the M10,000 IsaMill. Flotation is transformed by high intensity attritioning in the inert media environment, and the narrow size distribution of product in open circuit configuration. The use of conventional steel media grinding to improve fine particle flotation is limited due to the oxidation of liberated mineral surfaces inherent in these environments."

Jan 1, 2005

By Tim Edwards, Richard Triglavcanin, Ian Arbuthnot, Darren Colwell, Brad Garraway, Ken Roberts

"In the mineral processing industries, there is an increasing need to design thickeners which are able to produce high density underflows usually referred to as “paste”.The behaviour of a flocculated suspension in compression needs to be well understood in order to arrive at a reliable thickener tank configuration (i.e. diameter, cone angle and depth) for a required paste result.As a suspension approaches paste consistency, it’s fluid characteristics change markedly. It develops a high yield stress, and may have an increased tendency to form agglomerates, which lead to a phenomenon known as “rotating beds”, “donuts”, or “islands”. These characteristics present challenges to the designer of the rake mechanism.The subject paper addresses the requirements for designing a paste thickener, covering the following topics:o Testwork for thickener sizingo Design of rake mechanismso Suspension rheology and effect on designo Case studiesTESTWORK AND SIZING FOR PASTE THICKENERSThickening slurries to the maximum possible density (paste) is becoming increasingly common. Applications such as Autoclave feed thickeners, paste backfill and some counter current washing (CCD) circuits are all examples of potential paste thickening applications. The principle of paste thickeners is that the compression zone is much deeper than on either high rate (HRT) or high compression (HCT) units; generally 3 metres or more. As the compression zone gets deeper, theunderflow density for a given flux rate (tph/m2) increases, as a result of two factors:1. Longer bed settling time. Settling flocs move relative to one another and release interstitial fluid when they are in compression. Increasing bed residence time achieves higher density underflow as more fluid is removed.2. The nett weight of the bed creates a compressive force on the settling flocs. This force increases with depth, so that the flocs at the bottom of the bed experience the highest compressive force. This represents the driving force to expel interstitial fluid and hence increase bed density."

Jan 1, 2005

By Bernard Jones

LTUG ? A meeting of many mining companies that are using large tires ? Introduction of the mines and size ? Companies go over their usage of tires and performance ? As a group we discuss how the manufactures are doing with supplies and performance (who's running what sizes and manufactures they are using) ? The mine's best practices they use (which ones work for them and which ones don't) ? Where the mines see themselves going in the future ? What type of tire management the mines have in place

May 1, 2009

By Joe Holmes, Peter Langlois

"Falconbridge’s Raglan Concentrator, located at the northern limit of Quebec’s Nunavik Region, has been in operation since December 1997. Originally designed to process 800,000 tonnes per year of high grade nickel ore, plant capacity is currently approaching 1,000,000 tonnes per year. Optimization of the ABC grinding circuit has proven to be the most challenging component of this capacity increase. Concurrent flotation circuit modifications have allowed concentrate grades to increase from 16 to 18 percent nickel, while maintaining recoveries. Concentrate drying problems encountered during the first 15 months of operation have been addressed through equipment upgrades. The challenges associated with surface deposition of filtered tailings in an arctic environment are now better understood, and detailed design of the progressive reclamation cover is underway.GRINDINGCircuit OverviewOre from open pit and underground mining operations is introduced to the underground ore handling system via surface and underground truck dumps. Two underground bins with a combined capacity of 4000 tonnes provide roughly a day of live capacity for ore storage. Ore from the two bins is conveyed to a 150 tonne surge bin immediately ahead of the grinding circuit in the concentrator.The Raglan grinding circuit has a conventional ABC configuration (Figure 1) with a design capacity of 100 mtph (800,000 tonnes per year). The 24’ AG mill is powered by a 3000 hp motor with variable speed drive. AG discharge is sized on a 8’x16’ single deck vibrating screen, with screen oversize recirculating to a 5 %’ short head cone crusher (400 hp) before returning to the AG mill. Screen undersize is combined with ball mill discharge to feed up to 5 15” Krebs hydrocyclones. The ball mill is a 14’x 21’ overflow mill driven by a 3000 hp motor at 73% critical speed. Target Pgo for the grinding circuit product is 65 microns"

Jan 1, 2001