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By J. M. Beck

Mineral property appraisers engaged in eminent domain actions on properties for which mining is the highest and best use must be fully competent in all phases of mineral resource estimation, mine project development, and mine operations (or retain the requisite competent assistance), as well as educated in eminent domain appraisal (USPAP Competency Rule). Failure to ensure such triggers the issue of appraisal competence and demonstrates a flagrant disregard of the myriad code(s) and guidelines to which the appraiser is subject. The cavalier assertion of some vague, undefined “latitude” in the valuation process does not exonerate the appraiser from a disregard of the USPAP Competency Rule. Lack of independence (i.e., “advocacy”) in mineral property appraisal is the usual result of a weak background in mining and/or appraisal theory. While it is readily apparent to those able to recognize it in reports and testimony, judges and juries cannot be expected to detect or recognize purposefully misleading (or even fraudulent) valuation concepts or testimony. Purposeful deception by the appraiser can lead to specious over-compensation of the property owner (thus victimizing the taxpayer); or, a failure to provide appropriate and just compensation to the property owner – yet, the purpose of an eminent domain proceeding is to leave the property owner no richer or poorer as a result of the taking. This paper highlights some of the deceptive practices encountered in litigation settings and raises issues of competency, professional ethics, and the effectiveness of the inherent enforcement capabilities within those institutions awarding professional certifications. INTRODUCTION The practice of eminent domain mineral property appraisal requires (particularly with respect to undeveloped mineral properties) that the appraiser possess the requisite level of competence in all phases of mineral resource estimation, mine project evaluation, mine development, and mine operation (through closure). To the extent the appraiser lacks such competence, it is incumbent on the appraiser not only to divulge this lack of expertise but also to seek competent assistance in the performance of the appraisal. This competence or expertise can only be obtained through a combination of appropriate and relevant technical education and direct mining industry experience. There exist a number of professional certification and/or credentialing authorities that speak to such competency. In a similar manner, eminent domain mineral property appraisal (as the term implies) also requires that the appraiser possess the requisite level of competence in the practice of eminent domain appraisal. This competence or expertise can only be obtained through appropriate and relevant education, direct knowledge of appraisal theory, particularly as it relates to the concept of eminent domain, and licensure.

Jan 1, 2019

By Doug Russell

Natsource: At a Glance l 160 employees l Global reach ? New York, Washington, Calgary, Ottawa, Toronto, London, Tokyo l Major Environmental Commodity Broker ? Rated as Top GHG Broker (Environmental Finance Magazine Survey, Dec. 2000 & 2001) ? Leading RECs Broker ? Large Broker of SO2, NOx l Large Energy Broker ? One of Highest Volume Gas Brokers ? Major Electricity Broker Overview l International Market l Implementing the Rate-Based Proposal l Assessment and Management of Risk from GHG Emissions Limitations

Nov 1, 2002

By C. Nangolo

Mineral commodity prices comprise one of the key criteria in the selection of mining stocks. We contend that of the three principal elements of mineral commodity prices, spot price, forward price and long-term price, one has a greater impact on the share valuation processes used by investors. This research paper examines the extent to which each of these elements influences the valuation process. The intention is to provide investors in mining stocks with a greater understanding of how fluctuations of commodity prices over time affect the prices of the mining stocks they hold, or intend to sell or buy. Three mineral commodities, gold, silver, and copper, were used as case studies, since market data on these commodities is readily available in the public domain. Nine market indices covering all three mineral commodities were selected. These are based on clearly defined criteria with the intention of eliminating ambiguity and to test for correlation with the three sets of mineral commodity prices. Nine mining companies, which were not the primary drivers of the relevant indices employed in the study, were used to validate the results obtained from the indices in order to avoid duplication of the same correlation during cross-checking. Each commodity price was adjusted for operating costs. For each market index, an average operating cost was calculated from the companies comprising its basket, while each company?s annual operating costs were used for the stocks of the individual companies examined. The data was collected for the period January 2004 to October 2010. This period was further split up into three sub-periods to account for the Global Financial Crisis (GFC) period that started in mid-2008. We conclude that mining stock prices are correlated with mineral commodity prices, but with spot and forward prices exhibiting stronger correlations than long-term price. This finding should be useful for evaluation purposes. Where cash flow methodologies such as discounted cash flow or earnings per share are used to value ordinary shares and commodity prices are required to estimate future cash flows, the findings suggest that spot prices should be used as opposed to long-term prices. The work reported in this paper is part of a current MSc research study at the University of the Witwatersrand.

Jan 1, 2011

ENGINEERS AVAILABLE (Under this heading will be published notes sent to the Secretary of the Institute by members or other persons introduced by members.) Graduate mining engineer, with 10 years' experience, having an office in New York, would like to represent a mining company as selling and purchasing agent, and general supervision if desired. Machinery agency considered. No. 259. Member, technical graduate, with several years' experience as engineer for a pyrites company, and as geologist and engineer for copper, nickel, and silver companies, desires a position as engineer or superintendent of mines. No. 260. Member, technical graduate, aged 29, with experience as draftsman, surveyor, and superintendent of iron and gold mines, and as construction engineer, is open for a position as mine superintendent, or in mine examination or construction. No. 261.

Jan 11, 1915

By L Mackinlay

The Apeketon Business Hub in Lihir, Papua New Guinea, emerged in 2019 through a partnership between Australian Business Volunteers (ABV) and Lihir Gold Limited (LGL), a subsidiary of Newmont Corporation. This development was driven by a shared vision for the Lihir gold mining operation to further enhance opportunities for the local community and strengthen the economy’s resilience post-mine. At its core, the business hub serves as the epicentre of ABV’s operations in the region. It includes a drop-in resource centre which provides the community with mentoring and consulting services, and access to a range of impactful workshops facilitated by ABV’s local staff and skilled volunteers. These workshops focus on local Lihirians but are open to the entire community, including Newmont employees. We design and continually refine Apeketon Business Hub support programs and offerings driven by community priorities, building trust through long-term relationships, and working side-by-side on real-time challenges. We offer three core programs to different levels of the community, from individuals and families to start-ups, large corporations, and landowner groups. There is significant demand for the support services provided by ABV, with over 350 Lihirians participating in our workshops over the 2023 calendar year. One of the hub’s core offerings is the Family Money Management Program, which addresses crucial challenges faced by Lihir households, particularly in terms of financial resilience. The program takes a comprehensive approach, assisting families in long-term planning and developing skills to effectively manage the income they derive from their employment with LGL and other enterprises. Significantly, the program also addresses financial stress, a factor often associated with domestic violence (Fox et al, 2002). By empowering women and promoting joint financial decision-making, the Family Money Management Program fosters a culture of savings and improved financial management, ultimately enhancing economic resilience within the community.

Sep 1, 2024

By B Hiebl, J Martens, L Petzold

A research team at the Iron and Steelmaking department at Primetals Technologies has established new upgrading measures for improving the efficiency of the beneficiation process in ironmaking plants, relying largely on pre-existing equipment. After the upgrade, the iron content in the final iron ore concentrate was shown to be significantly higher. Remarkably, the costs for employing the respective measures are surprisingly low.This case study is based on a Kazakh iron and steel producer, whose beneficiation process is currently generating a magnetite concentrate with a final iron content of 65.65 per cent. The study shows that the implementation of Primetals Technologies’ intelligent modification measures to the current beneficiation process, the realisation of more effective dewatering, and the utilisation of an innovative binder lead to an increased iron content in the resulting pellets, reaching a concentration of 69.17 per cent (iron ore concentrate) and 66.5 per cent (pellets).The current operation consists of three closed circuit grinding stages, four stages of low intensity magnetic separation, vacuum disc filters and straight-grate pelletising. By dividing the slurry after the second stage of grinding and the third stage of low intensity magnetic separation, it is possible to divert the more iron-rich fines before they would enter the third grinding stage and the fourth stage of magnetic separation. This then reduces the load on the existing third stage ball mill. Afterwards, the ground material is treated in an additional low intensity magnetic separator and mixed with the previously diverted fraction of the fines. An improved filtration procedure, combined with the application of a highly sophisticated binder, further reduces the amount of additives needed, so that a genuine direct reduced (DR)-grade iron concentrate is produced as a result.All laboratory, pilot and pelletising test work was executed at Primetals Technologies’ laboratories in Austria.CITATION:Martens, J, Petzold, L and Hiebl, B, 2017. Enabling iron ore concentrate for the production of direct reduced iron with pre-existing beneficiation lines, in Proceedings Iron Ore 2017, pp 227–232 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By O. N. Mohanty, S. Mohan Rao, N. D. Rao, T. Mukherjee, P. V. T. Rao

"Tata Steel has its captive chromite resources at Sukinda, Orissa. They contain two ore types, i.e. (i) Ferruginous and (ii) Siliceous. The generation of off-grade ores is an increasing trend and simultaneously customer quality requirements are becoming ever more stringent. The ferruginous type ore also contains a considerable quantity of in-situ fines (~20% particles below 0.5 mm) that compound the beneficiation problem.In this paper, new strategies are discussed for producing additional value.added products after evaluating the present beneficiation practice in terms of changing market scenario, processing capability of the plant and ore characteristic. They would entail use of MGS - an enhanced gravity separator, for recovering additional products from plant tailings; production of ferruginous coarse concentrates (-3+0.5 mm with ~46% Cr2O3) using jigs; production of marketable grade lumpy (-40+10 mm size) concentrates from low grade siliceous ore using jigs and >2.8 Cr/Fe ratio siliceous ore fines treated in the Chrome Ore Beneficiation plant gravity circuit units and low intensity magnetic separator. The studies indicate that it is possible to recover 79-80% of the chromite, against a theoretical maximum of 82% from both the ore types, in the form of several marketable grade concentrates that would also include refractory grade."

Jan 1, 2003

By Hoke M. Garrett

The domestic cement industry demands about 550 trillion Btu annually, at a time when reduced fuel use has become a necessity due to the energy shortage. In terms of the overall power picture, that 550 trillion Btu, which includes both fossil and electrical energy, means about 0. 870 of all energy consumed in the U. S. The various factors influencing reduction of this energy consumption are the subject of this paper. Nationally, the energy shortage is being tackled on two fronts--increasing supply and reducing demand. Making cement consumes energy; therefore, the industry cannot join the effort to increase the energy supply except indirectly as noted later. Demand can also be attacked on two fronts--by reducing cement consumption or by reducing the amount of energy required to make cement. The following discussions on reducing cement industry energy consumption center briefly on the prospect of reducing cement consumption followed by a broad evaluation of the potentials for improving cement-making thermal efficiency.

Jan 1, 1974

By Fabio Mielli

Encompassing between 20 and 40 percent of the typical mining operational costs, energy in mining operations is a growing concern for the industry. However, this concern is a complex, multi-faceted variable that involves government regulations, societal pressures, cost and competitiveness. Managing energy efficiency is becoming a keystone of successful companies. The suggested energy strategy in mining and mineral processing operations must follow a well-structured approach to include the following: ? Understanding where energy is being used and why. ? Recommending and implementing energy conservation measures. ? Driving visibility to targets and results. ? Leveraging the energy spent across the enterprise. ? Developing a robust energy and sustainability strategy. Additionally, it must ensure that all decisions support the financial and operational integrity of the business.

Jan 1, 2012

By E. B. REESER

EFFICIENCY is the foundation on which the prosperity of this Nation must be built. Your organization and the members thereof are constantly thinking of Gays and means whereby greater efficiency may be developed. It is often said that this Nation has become great because of its almost up limited supply of raw materials at low production 'costs. This was undoubtedly true in the earlier years but today we face an entirely different situation. We have learned that nature has been very generous in supplying all parts of the world with ample resources of various kinds to meet the demands. This applies to practically all commodities but for the purposes of this discussion, we will limit our remarks to petroleum.

Jan 1, 1931

By R. A. May, P. J. Brooks, W. M. Smith

"Neill and Gunter Limited (NGL) has prepared a preliminary design and a cost estimate for a ferric chloride leach plant to recover copper, lead, zinc, and silver from a typical complex sulphide ore. This plant design is specifically intended to treat unconcentrated ground ore (flotation feed), but can be readily adapted to treat bulk concentrates. Samples of ground ore and bulk concentrate were obtained from Heath Steele Mines, Miramichi, New Brunswick, laboratory testing, and preliminary process flow sheet preparation was carried out by the Research and Productivity Council in Fredericton, New Brunswick. Approximately thirty drawings have been produced, including process and equipment flowsheets, process piping and instrumentation drawings, and preliminary general arrangements. Preliminary capital and operating cost estimates were prepared for a plant that would treat 1000 t/d of crushed and ground ore to produce about 30 000 tpy of zinc. Capital and operating cost estimates were also projected for plants up to 4000 t/d of processed ore. Recoveries of 99% for zinc, 98% for lead, and 96% for copper were achieved in laboratory tests on unconcentrated ore. These recoveries were higher than the overall recoveries obtained from bulk concentrate, yielding approximately 10% more revenue.A 1000 tonne per day plant was determined to have a low return on investment, however, depending on the size and type of mining operations employed and the FCL plant throughput. DCF-ROI projections of 20% to over 30% were calculated for 100% equity financed “green field” mine, mill and FCL plant operations of 2000 t/d and higher"

Jan 1, 1997

By Robert M. Adler

In order for a taxpayer to produce income, he may be required to exhaust his capital assets. With respect to the mining industry, those exhaustible capital assets may result in income tax deductions under the general categories of depreciation, obsolescence, losses and depletion. The percentage depletion deduct ion concept is not based upon "economic" depletion, or "geological" depletion theories. Instead, it is wholly an income tax concept created by Congress. This is significant in that, in its application, tax depletion has no adherence to traditional economic or geological depletion concepts For example, the Internal Revenue Code limits percentage depletion to 50 percent of the miner's net income for the taxable period.1/ Should a particular miner extract and sell 500,000 tons of material during the year, but at a loss, he receives no percentage depletion. The same would apply to an electric utility which mined its own coal. Should its mining costs exceed the "going price" for coal, as established by actual arm's-length sales in the market, the utility has no net income, and is therefore not entitled to percentage depletion.2/

Jan 1, 1973

By C. M. White

CITIZENSHIP is a rather abstract subject on which a great deal could be said-a subject on which a great deal is said -and still one which too many of us seldom think about and seldom work at. Too many of us engineers and business men have but a vague idea of citizenship. We think that if we go to the polls on election day and obey the laws scrupulously, with the exception of an occasional traffic violation, we are pretty good citizens and are doing our duty by our city, state, and nation. But when you think it over, that's a very passive observance of the important right of counting oneself a citizen of a country. There is nothing very positive in that attitude. There is nothing that indicates that we have sufficient interest to really go out and do a job for the -welfare of our country, forgetting any personal advantages or inconveniences that might arise. In other words, this type of voting-on-election- day, law-abiding citizenship does not keep us awake a single minute; it does not take any particular thought or require the expenditure of any time or energy.

Jan 1, 1939

By S Smit, P J. J Strobo

ZINIFEX Century Mine is a zinc, lead and silver concentrate producer. Flotation is the primary method of minerals separation in this circuit. The flotation circuit is quite large with 79 flotation cells. The levels in each of these interconnected cells are controlled at more than 45 level control stations. Due to the multivariable interaction throughout the circuit, good level control was found to be difficult to achieve by just using normal Proportional-Integral-Derivative (PID) control. As a first step in advanced process control, the FloatStar Level Stabiliser, a multivariable controller developed specifically for flotation circuits, has been commissioned at Century mine to solve the level control problems. The first section of this paper therefore discusses and shows the results and improvements obtained by using the FloatStar level stabiliser. The results and benefits of the FloatStar Flow Optimiser are discussed in the second section of this paper.

Jan 1, 2004

By K L. Temel, W P. Player

The underlying message of this paper is that investment in prospecting, exploration and mining in New Zealand is welcomed. The Government's policy with respect to Crown owned minerals is for continuing investment in prospecting, exploration and mining which is in accordance with good exploration or mining practice. To encourage continued investment requires a business-friendly environment. Government policies and initiatives to enhance the business environment for the minerals and coal exploration and mining industries are discussed in this paper. As well, new initiatives under consideration, which have the purpose of enhancing the investment environment, are discussed.

Jan 1, 1997

By Notman, Arthur

THIS is a day of surpluses, some good and some not so good. One can hardly pick up a newspaper, magazine, review or economic treatise without confronting the fact that we have or are threatened with more .of certain goods than we have use for, whether it be corn, wheat, cotton, coal or oil, -lumber, 'leather, newsprint, automobiles, zinc, lead, copper or what not. How did this unprecedented state of affairs arise? Who is to blame? How shall we avoid smothering ourselves in our own production? The voice of the farmer is raised in appeal to the Government to relieve him from the dilemma of his own fertility. In answer the Government employs thousands of experts and spends millions of dollars to aid the farmer. But to what end? To make him still more efficient so that he may produce even greater surpluses? Not satisfied with the result, it spends other millions to prepare vast areas of the arid land of the West for more farmers to cultivate and insure yet larger surpluses. Then what? Naturally another appeal to the Government to fix prices by financing the

Jan 1, 1928

For too long we, as an industry, have borne the brunt of irrational claims, poor science and even worse, journalism with regards to our affect on the environment. To some of us, the overwhelming media attention on greenhouse warming, the polluting outputs of mineral processing or unthinkable depletion of natural resources has left us embarrassed and more unfortunately has turned bright young people away from a career in the minerals industry.This paper shows the hypocrisy associated with an element of the green movement and dispels some general myths on mining disseminated by radical environmentalists.The fallacy of the greenhouse warming effect will be scrutinised by common sense and the mining industryÆs use of land will be discussed and put in proper perspective.Problems associated with safety and emissions and the means to overcome such are discussed briefly.

Jan 1, 2004

By Daniel S. Gwinner

The tolling, or processing for a fixed fee, of aluminum drosses to recover the metal units is a common practice in the Aluminum Industry. The Dross Toller is acting for the owner, and since most dross processes result in material going to landfill, it is important for the owner of the dross to insure that the toiler is processing the material and handling waste disposal in an environmentally responsible manner. The paper discusses the Dross Toiler Audit Program, first from the Reynolds Metals Company perspective. Included are the reasons the company deems it necessary to audit and a description of the items covered during the audit. Finally, there will be a discussion of the audit from the Tollers perspective - what the Toiler can expect when the auditor arrives.

Jan 1, 1995

By Fred A. Glover

It's a pleasure to be included with this group. I am not here to sell my services, but rather to share with you some ideas and considerations on using environmental consultants. Environmental consultants have developed some problems as well as created new costs for companies that are as legitimate as engineering costs. Each day the mining industry is becoming more affected by the proliferation of environmental regulations and their interpretations by federal and state agencies. How does a modern mining company cope with all the demands for environmental consideration by regulatory agencies and special interest environmental groups-- yet produce a product and make a profit? One way is to make efficient use of environmental consultants. But, as everyone here knows, this approach has been fraught with seemingly inherent frustrations, difficulties, and much justified criticism.

Jan 1, 1979

By J. M. Pachter

Property sales and acquisition are prominent features of today's coal industry. Before selling or buying a site, a company must know the property's economic net worth. Any evaluation of economic net worth would be inadequate if determinations of a property's environmental liabilities and costs were omitted. Short-and long-term costs can result from liabilities related to reclamation, water treatment, subsidence, and hazardous waste disposal. A structured, interdisciplinary approach can aid in the delineation, summation, and scheduling of these costs and liabilities.

Jan 1, 1987