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By C. M. Campbell

Canadian newspapers from coast to coast, have been, for months, denouncing those articles entitled, "The Whisper of Death," which have been appearing in the Montreal Star. I have not read these articles as the newspapers do not print them; they just denounce them or class them as jokes. Apparently they think that they are not suitable for the ordinary Canadian to read. It appears, however, that the Star has said that unless we balance our budget, and that soon, we shall be bankrupt. That seems to me like common sense, though the Victoria Times says editorially that the Star claims will "shortly find a place in the joke column". In this editorial the Times quotes with much enthusiasm from the Quebec Telegraph. "Canada," says the Telegraph, "is all right. Her natural resources are so vast that no one need worry. Her future possibilities are limitless; her assets beyond figures". Does it not seem like the limit of nonsense for a country that is not paying its running expenses to make such pretensions? After fifty-five years of Confederation and much talk of national status we are still sponging on the mother country for our external defense; we still allow the hard pressed tax-payer in the old land to shoulder the entire burden. We even now refuse to accept able-bodied working-men from that small and overcrowded country and yet blatently talk of limitless resources.

Jan 1, 1923

By V. L. Eardley-Wilmot

Introduction We are all familiar with the bright and attractive colours of the roofs of our suburban houses and country cottages, but few of us fully appreciate the complex and highly technical nature of the business which produces these roofings. Roofing granules consist of small broken particles of certain types of rocks, burned clay products, or slag. They are used either in their natural state or artificially coloured and are affixed onto one surface of asphalt sheeting. Their main functions are to protect the roof against external fire hazard, prolong its life, and enable it to withstand extremes of weather over a period of years without deteriorating. Pleasing designs and colours are added attractions. The reverse, or inner side, of the sheeting is coated with a film of talc or fine mica to prevent it sticking when rolled up for convenience of handling for transport. The finished sheets or strips are cut into a variety of shapes for roofing shingles, or for sidings which resemble rows of bricks separated by mortar. In Canada, the consumption of roofing granules has increased fourfold in the past decade and indications are that the industry will continue to expand. At present, fourteen plants are engaged in manufacturing granule-coated roofings, but, apart from a relatively small output of natural granules by two producers in British Columbia, only one eastern producer makes both natural and coloured granules in Canada, and these only for its own use. The annual consumption is now over 77,000 tons of roofing granules valued at more than $1,600,000, but about 62 per cent of the tonnage is imported. It is thus apparent that the production of Canadian-made granules, both natural and coloured, could be considerably increased. This paper is presented in order to give an outline of the industry and at the same time to point out its difficulties and pitfalls.

Jan 1, 1946

By L. H. Cole

Introduction The increasing importance of the gypsum industry in Canada is evidenced by the fact that the production has increased from 473,129 tons valued at $809,632 in 1909 to 1,205,846 tons valued at $3,622,007 in 1928, an increase of over 155 percent in quantity, and of 347 percent in value, in the 20-year period. Although the export trade in crude gypsum still forms a large proportion of the industry, it is gratifying to see that the home consumption is steadily increasing, and while the percentage of the crude gypsum mined that is manufactured into the calcined products in the country is only 16.8 per cent, its value is practically 50 per cent of the total gypsum production of the whole country. It is to be hoped that each succeeding year will see an increase in the amount manufactured in Canada, and, with the steady growth of the country and a serious endeavour to capture a part at least of the world market in gypsum products, the outlook for the industry is decidedly promising. The value of gypsum as a commercial commodity has been known from the time of the early Egyptians; in fact its value for certain purposes has been known so long chat the date of the discovery of its peculiar properties is unrecorded.

Jan 1, 1930

By P. West-Sells, B. Wassink, N. Fisher

Gold leaching from a commercial cyanide-amenable gold ore was studied at 25°C using sodium bisulfide-hydrogen sulfide solutions containing elemental sulfur. Gold extraction from the ore using 0.55 M NaSH, 4.1 atm (60 PSI) H2S, 1 g/L S8 and 26% solids by weight was about as good as the best extraction obtained by cyanidation. Maximum extraction was achieved in roughly 48 hours. Sulfur dissolves in the bisulfide solutions to form a mixture of polysulfides. Simple speciation calculations indicate that gold solubility as bisulfide complexes should be roughly ten times higher than in the absence of added zerovalent sulfur. The principal bisulfide complex is believed to be [Au(HS)2]-. Gold dissolution is favoured by increasing HS- concentration and by increasing H25 pressure. Polysulfide complexes of gold are also likely to be formed, and may contribute substantially to gold leaching. Two experiments using pure gold were also performed. Up to 100 mg/L gold was dissolved in 140 hours using 0.55 M NaSH, 1 g/L added elemental sulfur and 6.2 atm H2S.

Jan 1, 2005

By J. A. H. Church

The report is too voluminous to be considered in detail within the scope of a single paper, so I will confine my consideration of it to the broader aspects, leaving other members to deal with points of particular interest. The method of presentation leaves one with an uneasy sense of prolixity and confusion of thought; the foreword by the Chairman may well be accepted as a true index of the whole. His argument amounts to this: Recognizing at the outset the futility of divided counsels, it was deemed advisable to arrive at unanimity. To this end, some members subscribed to views to which they do not whole-heartedly assent, thus giving weight to conclusions with which they were at variance. Unanimity cannot be qualified-either it exists or is absent-and, moreover, in the text of the Com-mission I can find no word that unanimity is required. Surely it would have been preferable to have a unanimous report covering such aspects as were acceptable to all members, with minority reports by individual members on such other aspects as were controversial, leaving it to the Government to give such weight to the divergent views as the personality of their sponsors might warrant. In the final analysis the value of an opinion varies directly as the personality of its exponent.

Jan 1, 1926

By N. Ahern, D. B. Dreisinger, G. Van Weert

In the thiosulfate leaching of gold, degradation of the thiosulfate reagent is a major cost. One of the intermediary degradation products is trithionate, which also inhibits gold recovery from solution by ion exchange. Little attention has been given to this species in the context of gold leaching - the limited information on trithionate and its solution chemistry available in the literature is seldom directly related to gold leaching conditions. This review is a compilation of the published knowledge on trithionate, with a specific focus on identifying the relevance of this information to gold leaching and the shortcomings in the knowledge base.

Jan 1, 2005

By M. F. Goudge

MAGNESIA refractories and magnesium metal are both essential war commodities. The need for magnesium, which had just made its debut as a commercial metal a few years before the outbreak of the present war, is widely known because this new and valuable light metal has already received much publicity. Less widely known but equally important in the war effort are magnesia refractories. They are indispensable to the efficient functioning of the great metallurgical plants producing steel, nickel, copper, and other metals, where, because of their resistance to extreme high temperature and chemical attack, they are used in lining the furnaces, which are operated at a white heat. The demand for refractories in the metallurgical industries rose rapidly upon the outbreak of war, and now, in consequence of the continued great expansion under way in the manufacture of steel, nickel, copper, and other metals, the need for magnesia is greater than ever. Since 1915, part of the Canadian requirements of basic refractories has been supplied from the deposits of magnesitic dolomite in Argenteuil county, Quebec. The products from these deposits are excellent for many uses, but the magnesitic dolomite has too high a content of silica and lime to be used in making a type of magnesia brick required in nickel converters, and in the roofs of reverberatory furnaces used in the copper and steel industries. There is now a large and growing demand in Canada for bricks and shapes for these uses. This demand has always been supplied from the United States. Makers of these products in the United States, in turn, formerly imported most of the necessary high-grade, dead-burned magnesia from Austria and Manchuria. Not only are these sources closed, but refractory chrome ore from the Philippines is no longer available and chrome refractories may have to be in large part replaced by magnesia.

Jan 1, 1942

By M. Hames, K. Larmour-Ship, B. Grinbaum, E. Buchalter, R. Hackl, B. Wassink

Sodium cyanide continues to be the lixiviant of choice for gold dissolution. Many gold ore-bodies contain a significant amount of cyanide-soluble copper which increases the cost of processing due to high cyanide consumption and high cyanide destruction and disposal costs. Several cyanide destruction processes are in use today, however, there are just a few cyanide recovery plants operating. A solvent extraction process to recover cyanide has been developed which utilizes the organophosphorous extractants Cyanex 923, di-butyl-butyl-phosphonate (DBBP) or tri-n-butyl phosphate (TBP) in Bateman Pulsed Columns. Copper cyanide species are first converted to hydrogen cyanide (HCN) by acidification, with or without sulfide addition. HCN is extracted by the organic and stripped using a suitable base (eg. NaOH) resulting in a high strength cyanide solution (eg. NaCN) for recycle to the gold recovery process. Continuous pilot plant testwork on HCN extraction using a 40 mm diameter Bateman Pulsed Column demonstrated a cyanide recovery of greater than 99% with final levels of cyanide in solution of less than 10 ppm. These results illustrate the potential of this technology to recycle cyanide and to detoxify final effluent streams.

Jan 1, 2005

By C. G. McLachlan

Abstract This paper deals with the application of the cyanide process to recover gold from a pyrite concentrate produced by means of differential flotation. This concentrate before cyanidation contains from 0.09 oz. to 0.14 oz. gold per ton, of which only about 60 per cent is recoverable. The rest is so fine that it remains interlocked in the pyrite and therefore is not acted on by the cyanide. The concentrate also contains about 15 per cent pyrrhotite and 0.4 per cent chalcopyrite, both of which are cyanicides. The cyanicidal effect of the pyrrhotite is inhibited by preacracing the pulp with lime, and maintaining a high lime alkalinity during cyanidation. The effect of the chalcopyrice is reduced as far as possible by removing those particles which are free by means of a further flotation step immediately prior to cyanidation. This involves the flotation of some very fine material. After nullifying as far as possible these two cyanicides, the concentrate is cyanided directly, i.e., without being roasted. This leaves the pyrite available for subsequent sale as a source of sulphur dioxide and sulphuric acid, and the entire residue of the cyamde plant, amounting to about 500 tons per day, 1s now being disposed of in this way. Prior to deciding on direct cyanidation, a number of laboratory roasting tests were made. These showed chat, 1f proper control were exercised, a better recovery of gold could be effected from the roasted product than by the direct method of treatment. The tests also showed that the capital cost o the plant would be much higher than that needed for the procedure adopted. The possibility of subsequently selling the pyrite for its sulphur content would also have been eliminated. Introduction A previous paper has described in considerable detail the application of the flotation process to improve gold recovery from Noranda's milling ore, and in so doing has covered the production of an auriferous pyrite concentrate. The present paper deals with the recovery of gold by cyanidation from that concentrate. This gold, though intimately associated with the pyrite, can, for metallurgical purposes, be considered as all occuring in the native state.

Jan 1, 1946

By Frederick Bird

This paper is based upon a review of studies of mostly Canadian mining companies in Chile, northern Canada, Tanzania, Guatemala, Ghana, Sierra Leone, and the Democratic Republic of Congo. In spite of often well-meaning efforts most mining firms produce wealth in developing areas that largely benefit those immediately involved, sometimes neighboring communities, and often those in the governing strata. Typically mining takes place in enclaves and fosters enclave development, rather than the kind of inclusive wealth development favored by the recently UN published Inclusive Wealth Report. One way by which mining operations can foster more inclusive wealth development is to adopt much broader approaches towards the construction of the various physical and social infrastructures ? roads, water, electricity, health services, schools, security ? required for their own operations by collaborating with diverse regional, provincial, and/or national agencies and businesses to develop these infrastructures for larger populations and areas beyond the immediate sites where they are operating. Established mining firms can also foster more inclusive wealth development by establishing more formal, collaborative relationships with artisanal miners.

Aug 1, 2013

By E. V. Konopleva, H. J. McQueen, V. M. Khlestov

In addition to increasing grain boundary area during hot working of austenite, the dislocation substructures create potential sites for nucleation of ferrite both at original grain boundaries and at transition boundaries between deformation bands. This development gives rise to a marked increase in the rates of nucleation, of growth and of transformation to ferrite. The combined net effect is product grain refinement that requires less stringent cooling between finish rolling and coiling; hence determination of the above rates would advance process optimization. The important control parameters are the preheat temperature (degree of homogenization), finishing temperature, strain (accumulation near finishing) and the extent of recrystallization after finishing. These effects vary greatly with steel composition; nevertheless, some general rules have been formulated. Moreover, there is also potential for deformation of the refined ferrite. There are other thermo-mechanical processes such as warm forming of metastable alloy austenite to provide a dense substructure that is carried into the martensite on quenching. In other processes, the austenite may be deformed during cooling through the transformation to develop a dense substructure in the ferrite that is stabilized by fine carbides.

Jan 1, 2004

By G. J. S. Govett

World mineral production is dominated by six countries - the U.S., the U.S.S.R , Canada, South Africa, Australia and China - which also hold most of the reserves of the world?s minerals. For the developed and centrally planned countries, there is a strong positive correlation between the mineral production of a country and its land area: there is no correlation between mineral production and land area for the less developed countries. These facts imply that, after taking due account of geological controlling factors, a country may expect to produce minerals in approximate proportion to its land are a provided that political, economic, and historical factors are conducive to mineral exploration and mining. Contrary to popular political belief in many parts of the world, the developed countries are the major source of mineral imports for the industrialized countries. Moreover, exports of ores and minerals account for a relatively small par t of world trade, and are an important factor in the export picture of only a few of the less-developed countries. The looming resource confrontation between the developed and the less-developed countries is based largely on the false premise that the industrialized countries of the world are minerals-poor and owe their wealth to cheap minerals from the less-developed countries. The data presented refute this. Geological controls are relatively minor in the present distribution of world mineral production; political and economic factors are dominant. It is argued that an expansion of world trade in minerals - based on increased exploration and new forms of finance for mining ventures - rather than cartels, price-fixing and trade restrictions is by far the preferable solution to the problem of redressing the legitimate grievances of the poor countries of the world.

Jan 1, 1977

By Brian W. Mackenzie

The paper addresses five questions concerning the economic of gold exploration in the western Canadian shield. Can historical footprints be used to project future gold prices for exploration planning? Experience suggests that gold price forecast are too clo ely tied to current market events to provide meaningful guidelines. What range of breakeven gold price will typically be required to ju tify gold exploration in Canada? Minimum price requirements. initially asses ed at $540 to $1080 per ounce, probably lie in the range of $480 to $760 per ounce (expressed in 1985 Canadian dollar). Within Canada, what role do regional conditions and taxation policies play in determining the viability of prospective gold exploration targets? Striking interprovincial differences are found to exist, given the same geological circum tance -Nova Scotia, ew Brunswick, and Quebec rank towards the top in term of motivating exploration, Briti h Columbia provides the least investment incentive, while Saskatchewan and Manitoba place around the middle of the Canadian league. How can minimum acceptable tonnage-grade conditions for gold targets in the western shield be established and, then, constructively applied to provide exploration planning guidelines? Minimum target conditions, realis tically defined in terms of a broad band of doubt, can be used judiciously to help balance the direct costs of uneconomic exploration with the opportunity costs associated with rejecting economic deposits. How does the average cost per ounce of gold discovered in the western shield compare with the overall Canadian experience? Average discovery costs for the we tern shield, apprai ed at $100 per ounce, are shown to compare favourably with the Canada-wide record.

Jan 1, 1986

By Zainelabdin Khalid Zainelabdin Elfaki

The influence of partially replacing cement with marble waste on the workability and compressive strength of concrete bricks was investigated. Three replacement percentages, 10%, 20% and 30% weight marble waste, were used with different curing times of 7, 14 and 28 days. Two specimens were prepared for each percentage and curing time. For this study, marble powder from the Mining House Company in Saudi Arabia was used. It was observed that the replacement of cement in Concrete brick with marble waste enhanced the loading strength and the workability of the prepared concrete bricks. It was also observed that 20% replacement of cement with marble waste was the best replacement percentage compared to the other replacement percentages tested. Marble waste from manufacturing companies, either in powder, sludge or slab form, has negative impacts on the environment. In contrast, reusing marble waste has both economic benefits (i.e., selling the marble waste) and lessening the need for raw resources.

Jan 1, 2014

By F. Grant

"General *The mining experiences of the coal mining industry in Western Canada have been extremely varied, with the mining companies having to adjust their operations or fail due to the harsh economy of the country in the first part of the century. The bituminous or mountain mines had the railways as main consumers with, at times, optimism that potential steel producers would require metallurgical coal. The prairie and foothills mines mainly provided household fuels, with the fine coal sold to local thermal power plants at discounted prices. In practically all cases fuel competition was very keen, and the less successful mines ceased operations in short-time spans. Knowledge of the parameters that governed the success or failures of the past coal operations should be of value to the present and future mining companies. The initial coal mines were small and were started to supply local demand. These mines had little in the way of capital machinery, engineering, or transportation equipment; therefore the mining methods and mine plans were very simple. The first industrial-sized mines imported most of their management and mining methods from other mining areas, mainly Great Britain. It took time to change the bias of management and mining methods to the requirements of strata characteristics, with rapid closure to those mines that were slow to adapt working methods. The main markets for coal were for household fuel, thermal power plants and railways, with very few other industrial markets developed. The economy of the period was harsh and cyclic and the coal mines were affected more than most industries by these boom and bust periods. It led to the survival of the fittest or the most efficient. Due to the economy, mechanization was introduced to the mines very slowly, with the inability to sell coal fines at a profit being another reason for the delay. Manual labour with hand tools was the main means of production. The work was heavy and arduous, and the pay was based on contract coal tonnage; therefore both men and management paid close attention to details so that nonessential work could be eliminated. Mine openings were dimensioned so that coal could be loaded easily by hand and support requirements were kept to the minimum. Transporting and handling the timber supports required heavy labour; thus the most efficient dimensions were chosen to suit the strata. On the other hand, during the main production seasons the mines tried to make the strata stress work for them so that the pressure was kept on the coal face to keep the coal loose while the strata, a short distance back, was induced to cave to minimize the abutment stresses. This caused mining to be an art, using skills developed by experience with the strata. This led to the development of efficient mine layouts with the openings dimensioned to the strength of the strata and the type of support available. The lack of capital and mechanization, and the manual labour, induced the mines to correlate their service and haulage systems with their mining methods. This caused many innovations that proved very practical."

Jan 1, 1985

By T. A. Rickard

FROM AN OLD MANUSCRIPT THE text for this contribution to the history of the Patio process is a page taken from a Spanish manuscript of Bartholomé Arzaj Sanches y Uela, now in the possession of the library of Brown University (see Figure 1). I owe the photographic print to the courtesy of the librarian. The date, as will be seen, is 1577. The subject is the treatment of silver ores at Potosi, in old Peru, but in modern Bolivia. The group of drawings (see Figure 1) is entitled "Arrangement of the machines in which the ores of silver are ground on the bank of Potosi, the one of two batteries and the other of one". First, top-left, we have the sketch of a "machine of one battery" operated by a water-wheel. From this mill the water runs in part along an aqueduct supported by pillars to the two-battery mill and in part down the hillside, where men are at work with "tubs, which are called cochas, in which are washed the charges of ore and amalgam". Along the top of the page are shown the "various offices in which are stored the copper, the salt, the ucha [llama dung, used for fuel], the lime, and other materials for the re-duction of the ores". To the right of these are "apartments and warehouses in which is stored the ore brought down from the mountain"?the cerro de Potosi. Through the arched portal come the "sheep [llamas] on which is brought down the ore". To this is added a reference to "the second gate, which closes the whole works". On the level above the aqueduct are seen six men carrying skin-bags that contain water. This is being sprinkled on the ore. On the extreme right are six more of these water-carriers. Next comes the two-battery mill. The mortero, or mortar, is marked on the right. Another description says, "Stone, on which the stamps crush the ore, which is called a mortar". To the left of these are indicated "screens of wire in which the ore is sifted after it has been crushed". Farther to the left, near the ore-washers, is a "shed, in which is placed the metallurgist to test the ore of the boxes". Along the left side of the page are sundry buildings, one of which is labelled a "shed in which are placed the cones of silver". Near it, lower, to the right, is the "furnace, in which are roasted the sulphides to facilitate treatment". Farther to the right is the "place where the Indians mix the charges of sulphide ore, which is called a buitron". Alongside is a "buitron in which the charges are prepared for reduction". Inside is a container, to which are attached the words "measure, called topo" On the extreme right is "another buitron in which the Indians mix the ores with their feet, as well as the heaps for the preparation of the reduction". Near the bottom, on the extreme left, is the "chapel where the holy sacri¬fice of the mass is celebrated". Under the first buitron is the "place where they dry the moist ores, called pãpear".

Jan 1, 1935

By Karl J. C. Harries

"2.1. INTRODUCTIONNo agreement can be perfect in the sense that it contemplates and provides for all eventualities. Mineral acquisition agreements are usually negotiated and drafted at a time when an orebody is no more than a gleam in a geologist’s eye, so it is hardly possible to provide for development and operation in other than the most general terms. However, an agreement that stops short of contemplating the possibility of an orebody and production is ill-advised. Accordingly, it is important to provide procedures to make decisions that will let the project proceed, even in the face of a fallingout between parties. Whether the parties are shareholders in a corporation or venturers in a contractual common undertaking like a joint venture, differences of opinion and disputes will occur. Unfortunately, more and more are ending up before the courts. Besides greed and the growing tendency in society to fight rather than talk, there are other factors that contribute to the increase of litigation. In some jurisdictions, agreements have tended to become complicated, often defying interpretation, even by a lawyer, and explorationists want their budgets to go into the ground as constructive work rather than into a lawyer’s pocket. All this has led to a growing tendency for corporations to take the attitude that the chances of finding a mine are, at best, marginal and there are lots of earlier agreements in the files to draw from, so why not prepare their own agreements? As discussed in the preceding chapter, this can be folly. All these factors can quickly have parties facing each other in court while a project sits idle. Added to this is the problem that, in some jurisdictions, lawyers may take cases on a contingency-fee basis, sometimes promoting the pursuit of a nebulous claim.When an orebody is discovered, someone will always want some, or more, for himself. There is a breed of “prospectors” who prospect for legal actions, on the somewhat sound grounds that a major corporation will buy off nuisance litigation, rather than incurring the cost and effort of attacking even a poorly founded claim in the courts. They may even find a winner. Besides, it is far more comfortable and relaxing to prospect for problems and legal niceties than to prospect for an orebody.1 In short, it is appropriate to consider briefly some of the factors relating to lawsuits and judgments. Although many of the comments are made in the context of the common law and the Canadian legal system, most of the concepts and suggestions are applicable to any legal system."

Jan 1, 2003

By C. M. Diaz, S. W. Marcuson

In the late 19th century, the discovery of rich nickel-copper sulfide ore bodies in Sudbury and the need for tonnage quantities of the metal to be used in nickel steel armor provided the foundation for establishing the Canadian nickel industry. For almost 50 years, International Nickel was the key player. In 1930, Falconbridge Nickel entered the field. These two companies remain the key Canadian nickel producers. This paper discusses the factors that have influenced the evolution of nickel smelting processes. The initial Sudbury ore smelting and nickel copper separation technologies were imported from abroad. It was only in 1937 that International Nickel established a process research laboratory in Copper Cliff The explosive post WW II industrial development created a strong demand for a broader variety of nickel products. For both International Nickel and Falconbridge, R&D became an essential business tool to succeed in the new market scenery. In the last few decades, new technologies were developed and commercialized to respond to the raising cost of energy, society pressing environmental concerns, the advent of nickel laterites as an important source of new metal, the incorporation of new nickel producers to the market, and, therefore, the need to increase productivity. Canada thus became an important exporter of technology. In this paper, the authors review this history with the objective of highlighting the forces that have triggered the most important changes in Canadian nickel smelting.

Jan 1, 2005

By Robert B. Parsons

"Canada doesn't really have a tax system for mining - it has eleven separate tax systems! The consequent maze adds some undefinable margin of difficulty to making investment decisions in Canada. But, this 11U1Ze is not likely to be simplified. Solution: learn it and sell it! Intricate Network of Winding PathwaysWebster's New World Dictionary defines the word ""maze"" as follows: ""a confusing, intricate network of winding pathways; labyrinth ... a state of confusion or bewilderment"". Webster's does not go on to give an example of a maze, but the dictionary could easily have referred to the taxation of a Canadian mining operation. The uninitiated would almost certainly look upon such taxation as a maze of the most perplexing sort.Twenty years ago, Canada's tax system was really quite simple. It is true that Canadian mining profits were subject to three levels of taxation (federal income tax, provincial income tax, and provincial mining tax), but this didn't pose a problem. Prior to 1974, at least the provincial income tax systems were somewhat the same in terms of rules .and rates, and even the provincial mining tax systems resembled one another. Mining profits were subject to pretty much the same rules, no matter what province or territory hosted the mine. Those were the “good old days” one could even dare to generalize about tax rates without fear of being labelled an imbecile!"

Jan 1, 1994

By E. M. Yates, H. M. Hamilton

"For the assent of any new mining project it is essential to determine a realistic value of revenue from the sale of concentrates.A description of the market factors influencing the concentrate terms will be presented along with a detailed review of historical terms of a smelter contract for zinc concentrates. OverviewFor the assessment of any new mining project it is essential todetermine a realistic value of revenue from the sale of concentrates.This applies at all stages of assessment through to the final feasibilitystudy. In forecasting revenue for a zinc mine the followingfactors must be considered:(a) mill recovery and zinc concentrate grade;(b) metal price forecast for all payable metals;(c) smelter terms; and(d) other selling costs.Normally, data from test work are used to determine mill recovery and concentrate grade.Market forecasting, and indeed all economic prediction is an inexact science and probably will always remain so. We have our econometric models our input/output models and a lot of other tools. But they are of no help in predicting the unpredictable. OPEC's huge increase in the price of oil was certainly the most dramatic example of this. It had a tremendous effect on the cost of producing most products world wide and on the price of these products. Any forecasts made prior to the OPEC action were obviously proven wrong."

Jan 1, 1994