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By A. S. Choudhary

Most of the coal reserves in India are of drift origin and have very poor washability characteristics and a high level of near gravity materials. At least 30 new coal wash plants are expected to be set up in the next 5years.In such a scenario, adequate sampling followed by sink float test work for washability analysis becomes very critical for designing these new plants. For coal sampling purpose, stipulations of different standards are sometimes formidable and on the border of ?impracticality?; sometimes are self contradictory in terms of gross sample weight vis-a-vis minimum number of particles required in each size fraction and in each relative density fraction and also the minimum mass in the latter. Validation of the generated data is another important aspect of washability analysis. These issues can easily be addressed by using straight forward mathematical relationships, well known RR plots and by using simple MS Excel tool, etc.

Sep 1, 2012

By A. Shandilya

ACC ECOSAND is finely powdered crystalline silica, which can replace natural sand usage in concrete and plasters. ACC ECOSAND ensures a comparatively denser concrete than those made only with natural sand and / or quarry fines / Manufactured Sand (Artificial Sand). Moreover, there is a significant gain in compressive strength (10-15 %) & durability in concretes (Reduced chloride conductivity leads to increased durability). ECOSAND is a by-product of froth flotation of limestone. At ACC Madukkarai cement works, Coimbatore, Tamilnadu, full-fledged mineral beneficiation process is adopted to enhance the usage of flotation reject in concrete and plasters. Optimum level for usage of ECO-SAND is 50%. With 50% usage of natural sand+50% ECO-SAND in concrete mix, 1 day, 3 day, 7 day & 28 day compressive strength is increased by 30.1 %, 22.6 %, 15.1 % & 11.0 % respectively and with moderate chloride permeability as compare to 100% Natural Sand. Keywords: froth flotation process, beneficiation studies, Denver cell, ECOSAND, siliceous material, durability & compressive strength, RCPT

Sep 1, 2012

By Robin J. Batterham

Alumina demand is steadily climbing around the world and is likely to continue to do so for many years. In such a commodity industry, the question arises as to what effort should be expended on innovation, given that for an individual company, the drivers of change are cost and quality as the market demand is essentially assured. This is of course a long-term view. The current conditions are less attractive. In this presentation, we review the broad issues that are considered targets for collaborative development by the industry as recently updated in the alumina industry roadmap published by the International Aluminium Institute in 2010. While they cover areas such as ?mine rehabilitation, residue management and use, alumina production from high sulfur bauxite, bauxite beneficiation, energy efficiency and alternative technologies for alkali and alumina recovery from bauxite residues,? it must be remembered that each refinery is different in terms of the feed material and the circumstances of waste disposal. Of particular interest is the more competitive area of breakthrough technologies. In the presentation, we will consider a range of opportunities that could transform the industry, from relatively near term possibilities such as bauxite activation through possibilities to eliminate crystallization as currently practiced to complete alternatives, such as the use of hyperaccumulating plants. Against this optimism, some of the realities that hold back breakthrough innovation will be presented for discussion.

Sep 1, 2012

By P R. Botha

Mining has played a significant role in human development and without the mining sector, society would not enjoy a large number of the benefits that it does today. However, mining has also carried with it some important lessons, which remain the source of ongoing learning. One of these lessons is the poor closure or abandonment of mines, worldwide. This has in many cases resulted in large tracts of unproductive land, representing a source of environmental pollution and a safety hazard to the community. Frequently associated with this is a legacy of mining communities having fallen into economic and social decline, beyond mine closure.Due to this legacy, governments, society and the mining sector pay far greater attention to mine closure planning today, than was done in the past. Typically closure planning has focused on the engineering aspects of a mine, namely decommissioning of the workings and plant; dismantling of unusable infrastructure; and rehabilitation of disturbed land. These are important aspects of closure but a more holistic, long-term approach is required which encompasses environmental and social aspects and aims to leave a positive legacy behind.In planning for a mine closure scenario with a lasting positive legacy, it is critical that the broader receiving environments (social, economic, physical and biological) within which a mine is located, define and drive the closure plan and the mine planning as a whole. This ensures that the broader environment influences mine closure, as opposed to looking at how a closed mine will impact on the environment. The ultimate aim is to first understand the broader environment and then to fit the closure of a mine into it. The earlier this approach is followed in the life of a mine, the greater the operational time frame available, and hence a better chance is presented for planning and managing a mine towards the desired, tested and agreed post closure scenario. Within this broad context, there is tremendous scope to achieve successful mine closure. However, it is critical to note that mine closure is not the sole responsibility of the mining companies, and neither is it possible for said mining companies to achieve mining closure alone. This concerted effort requires a multi-stakeholder approach in which partnerships are created and risks, responsibilities and opportunities are shared and managed. To achieve sustainable closure, a multi-stakeholder approach based on an initial forward-looking closure vision is required. This approach provides an early basis for consideration of alternative land uses and economic options from which specific actions to achieve the preferred option can be defined. The Anglo American plc Mine Closure Toolbox has been formulated and developed around this concept. The Toolbox aims to expand mine closure planning - from financial provisioning for rehabilitation and physical closure, to planning for sustainability beyond mine closure and leaving behind a positive legacy.This paper focuses on the business case for mine closure planning and provides an overview of the Anglo American plc (AAplc) Mine Closure Toolbox.CITATION:Botha, P R, 2012. The business case for mine closure planning and an overview of Anglo AmericanÆs mine closure toolbox approach, in Proceedings Life-of-Mine 2012 , pp 7-10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

By A Hutton, C Dick, D Fletcher

Mine and facility closure planning is a dynamic and rapidly evolving landscape. In this landscape, mining companies and industry consultants are generally good at estimating the associated earthworks and rehabilitation costs, because it is æcore businessÆ. Through our extensive work in mine closure, we have found that the safe and cost-effective demolition of mining related infrastructure is often grossly underestimated. Or alternately, it is simply assumed that the returns on scrap steel and the sale of re-usable plant will cover the related costs. With fluctuating steel prices and no guaranteed buyer for the assets, the estimated monetary return is often unreliable and in many cases unrealistic. On this basis this logic is fundamentally flawed. We have found that on most occasions this has meant that closure cost estimates fall well short of what the actual costs are to close the mine.GSSE and Liberty Industrial have worked on over 60 mine closure projects in Australia and overseas of varying scales and across a range of commodity types. An evaluation of these projects has shown that costs associated with the safe demolition and removal of a mining related infrastructure is in the order of 20 - 30 per cent of the total cost at closure. We believe it is one of the top three risk areas associated with mine closure planning and cost estimation, alongside bulk earthworks and the capping of tailings and waste rock storage facilities.Our paper uses examples from recent projects to demonstrate all aspects outlined above. We have also endeavoured to address the following key points related to the demolition and removal of mining related infrastructure:If companies fail to plan appropriately, complicating factors such as contamination, hazardous materials, mobilisation/demobilisation, geographical location, decommissioning standards, site constraints and weather, can add considerable costs to the project and result in variations for the demolition contractor.Closure planning often assumes infrastructure that is no longer required can be utilised by a third party and/or the new land holder. We intend to show that unless adequate consultation and planning is undertaken, this is not beneficial to the mining company, the environment, or the local community.CITATION:Fletcher, D, Hutton, A and Dick, C, 2012. The æsmoking gunÆ of detailed mine closure cost over-run - A review using case studies of the real costs associated with the demolition and removal of infrastructure in mine closure, in Proceedings Life-of-Mine 2012 , pp 325-332 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By L Lorenzen, H Muller

"Every year a large number of projects are evaluated by small listed and unlisted mining companies that are hoping to find the ideal project, which will catapult them from a mining junior status to that of a mid-tier mining company. Usually this includes finding the æidealÆ or ærightÆ orebody and then developing a process which will allow cost-effective recovery of the valuable metals and the production of a saleable product. These dreams are seldom realised and there are a number of good and obvious reasons for this. Issues that are generally high up on the agenda for the smaller companies are: cost of developing a project before the feasibility study stage finding a suitable, or optimum processing technology financing of the project dealing with risk.The most expensive part of the development process for the small miner is often the exploration side of the business and finding the æidealÆ orebody. However, finding the right orebody will not be discussed in this paper. The æidealÆ orebody does not necessarily solve the problems of the mining junior, as much of the uncertainty lies in the process required to recover and produce the final metal product. Once a mineralised deposit has been identified and the grade at least reasonably qualified, the development of a suitable process becomes the driver to convert the deposit into an orebody. This paper proposes that a small exploration company has a very limited opportunity to succeed if it does not do sufficient homework before it identifies the æidealÆ orebody. The risk profile for the small mining company, by its very nature, has to be different to that of a major company and as a result the opportunities often lie in managing different and often new process options, which may be the key to bring such projects on line successfully.CITATION:Muller, H and Lorenzen, L, 2012. Project selection and process development for mining juniors, in Proceedings Project Evaluation 2012, pp 149-158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

May 24, 2012

By S Watson, L Martinez

Mine projects are complex opportunities that demand a constant assessment of uncertainty, ie risk and upside potential. This is because the value of a mine project is typically influenced by many underlying economic and physical uncertainties, such as metal/mineral prices, metal/mineral grades, costs, schedules, quantities, and environmental issues, amongst others, which are not known with much certainty at the beginning of the project. But, is uncertainty an enemy or an ally of the mine planner/analyst? To answer this question, this paper first assesses and elaborates upon the general concept of uncertainty. It then looks at the different sources of uncertainty in a mining project, such as the orebody, costs and product price uncertainties, and their effect on the final project value. Next, a general?review?of current mine evaluation techniques highlighting their limitations when dealing with uncertainty is made. Finally, an extended evaluation and risk management framework that addresses the existing uncertainty in the (greenfield/brownfield) mine evaluation process is proposed. One important characteristic of this framework is that it uses and manages uncertainty in order to generate additional value to the project; this is done through operational and managerial flexibility, which allow mine planners to minimise/maximise project risk/upside-potential giving a more realistic estimate of the projectÆs market value - this is shown in practical and simple examples occurring at different stages of a mine project, such as exploration and operation. Final conclusions are provided at the end.CITATION:Martinez, L and Watson, S, 2012. Uncertainty - An important source of (additional) value for mine projects, in Proceedings Project Evaluation 2012 , pp 131-140 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By S Shafiee, N Abbate

The evaluation of mining projects requires a methodology that will give flexibility and manage the existing uncertainty within the projects. The discount cash flow (DCF) and other traditional evaluation approaches, which are widely used in evaluating a significant number of mining projects, have simply assumed that the main variables remain constant in their evaluation; elements such as discounted rate, mine life, operating cost and production rate. The DCF ignores managementÆs flexibility to adapt and reforecast and revise decisions. Real options valuation (ROV) is one of the modern evaluation methodologies that provide a tool to adapt and revise mining projects under uncertainty and future variables movements. ROV brings more variables into the evaluation model compared to DCF and assumes them as uncertain and dependent. Finally, ROV provides a range of solutions that can assist in managing this flexibility.This paper endeavours to compare ROV and DCF for mining projects comprehensively and applies these two techniques in the model. The paper shows that ROV will be inclusive of extra value in mining projects due to variables not allowed for, or even ignored, when the DCF model alone is used. One of the significant advantages of the ROV method is being able to evaluate mining projects under different scenarios from the inception of the projects. Furthermore, ROV gives the ability to evaluate the mining project while allowing for abandonment, temporary suspension, or expanding the mining project. In other words, the ROV evaluation process creates an analytical environment, which allows for optimisation of the mining plan within the mining project, as well as the ability to change the capital structure dependant on existing circumstances over the life of the project. The ROV is a new evaluation method that can add value in mining project analysis and offers opportunities to amplify gains, or to mitigate losses. This paper also discusses some of the reluctance to use ROV instead of DCF in current project evaluation.CITATION:Shafiee, S and Abbate, N, 2012. Now, this is the time for mining companies to choose - Real option valuation or discount cash flow, in Proceedings Project Evaluation 2012 , pp 225-234 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By P Card

Some project managers accept unsatisfactory economic evaluation modelling because they are unaware of what constitutes good practice. They tend to leave it to the evaluation specialist or others to decide. The AusIMM has published on its website a draft set of guidelines for technical economic evaluation which will allow these project managers to take control and demand worldÆs best practices.The style of the guidelines is described and the source of a worked spreadsheet example in Excel is given.Economic evaluation in project management is described. A simple test for the acceptance or rejection of evaluation work is offered. The nature of modelling and evaluation in each of the three study phases of concept, prefeasibility and final feasibility are described. Suggestions on the selection of specialists for each phase are given. The three levels of evaluation thinking are described, namely, modelling, valuation and evaluation. Finally the meaning of æfinancial analysisÆ is explained.The conclusion is that æthe role of an economic evaluation specialist is to create models and evaluations for the whole project team to readily understand and use: it is not to create models for his/her own useÆ.CITATION:Card, P, 2012. What project managers must demand from an economic evaluation!, in Proceedings Project Evaluation 2012 , pp 173-176 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By T Schrimpf, I Bryan

The life cycle of a mining project begins with initial regional exploration and ends with mine closure and rehabilitation. Between resource definition and the commencement of mine construction is the study phase. In this phase technical concepts and processes are defined, evaluated and assessed with the aim of establishing whether the deposit is economically feasible. The study phase usually involves various steps from a concept/scoping study to prefeasibility and ultimately definitive feasibility study. The complete study phase can take several years. Although the costs for studies are low in comparison to actual construction and operating costs of a mining project, they are significant especially for junior exploration and mining companies advancing projects to the point of being funded.The studies aim to determine selected parameters for the project, eg mining and processing methods, operating strategy, etc and provide a roadmap for project development ahead. Although mining studies are of the utmost importance for the mining project and the project owner, they are usually carried out using a conventional engineering approach: the consultant or design engineer works to a defined scope of work. The resulting design might be based on good engineering, but might often also fail to provide the solution for the project owner that delivers the best shareholder value. An alternative to this more traditional approach to project evaluation is what we have termed a value engineering approach. Value engineering is a creative, organised effort, which in the case of a mining study analyses the requirements of the study for the purpose of achieving the essential outcomes with the highest shareholder value. The outcome of a study is a concept that delivers the highest achievable value of the resource project and shows the way ahead to realise this value. Through a group investigation by experienced, multi-disciplinary teams the value of the resource is improved through the study of alternative options, methods and processes. The scope of the study is not limited to a narrowly defined engineering scope, but to the creation of value.The study commences with the identification of key value drivers and risks, based on the available information (drill data, geotechnical data, metallurgical test work, etc). This enables the quantification of key uncertainties, risks and value adding opportunities. Study efforts concentrate on key value drivers and are not unnecessarily spent on side issues. This approach can significantly reduce the time frame and costs for the study phase.This paper describes in more detail RMDSTEMÆs value engineering approach to mining studies and illustrates it with examples and case studies.CITATION:Schrimpf, T and Bryan, I, 2012. The application of value engineering principles to mining studies, in Proceedings Project Evaluation 2012 , pp 163-170 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Doris Hiam-Gálvez

El presente trabajo describe las últimas tecnologías que mejoran la minería en América Latina y la eficacia en el procesamiento del mineral. Así también se revisa el modo innovador de energía a través de la fundición de sales con energía solar, particularmente en regiones desérticas de América del Sur. Cada tecnología ofrece mejoras sustanciales en eficiencia, capital, y costos operativos y contribuye a la reducción el impactom ambiental de las operaciones mineras.

Feb 1, 2012

The theme of the 2012 North American Tunneling conference (NAT) was ?Tunneling: Driving Value.? This theme best reflects where the tunneling and underground construction industry is to-day. Major advances that have been made in technologies have provided tremendous improvements in productivity, which, in turn, have allowed the industry to deliver more cost-effective and less disruptive solutions to the nation?s infrastructure needs. Despite a weak economy, domestically and globally, cities and states continue to spend billions on infrastructure improvements. For the underground construction industry, that means more transportation and water, wastewater, storm water projects and other underground structures. And, for each project completed, underground construction and tunneling technology grows. The NAT conference, put on by the Underground Construction Association (UCA) of SME, provides an outlet for technology transfers among professionals. This year?s conference, held in Indianapolis, IN June 24-27, attracted 918 attendees, up from 803 at the last NAT in 2010. The accompanying exhibit also featured 116 exhibitors occupying 140 booths. That was up from 108 booths in 2010. So, the meeting continues to grow as underground construction professionals throughout the world seek to learn from their peers.

Jan 1, 2012

By Tristan H. Jones

Beginning in 1987, miniature dataloggers approved by the Mine Safety and Health Administration (MSHA) were publicly available for sale. The principal among these was the model CR21XQM, manufactured by Campbell Scientific, Inc. These dataloggers had been tested and were deemed permissible by MSHA and thus could be installed in the return air of an underground coal mine. In 1996, production of all permissible Campbell Scientific dataloggers ceased due to lack of sales. Data collection with these dataloggers has been a staple of ground control research in the United States for decades, and, without them, or a replacement, the capability to monitor ground behavior is severely impacted. Since that time, any party requiring a permissible datalogger has needed to borrow one that was purchased during the production years. In order to fill this technology gap and ensure its own data-gathering capabilities, the National Institute for Occupational Safety and Health (NIOSH) has developed and refined its own miniature data acquisition system (MIDAS). On February 16, 2010, MSHA deemed the MIDAS to be permissible and approved it for use in the return air of an underground coal mine. The MIDAS is an intrinsically safe, 16- or 24-bit datalogger, compatible with a wide range of resistive, single-ended, and differential-type instrumentation. It contains enough data storage memory to operate for over a year with typical data rates and is efficient enough to do this on a single C-sized alkaline battery for that entire period. It is menu-driven and requires no programming knowledge to operate. It supports wireless or hardwired communication for datalogger setup and data download. This paper describes the design, field and laboratory testing, and capabilities of the MIDAS datalogger. While not as fully -functioned as the CR21XQM, it is the only new permissible datalogger available, and there is intent to make it available to the mining industry for purchase.

Jan 1, 2012

By Anastasia M. Suchowerska

The design of effective ground support requires a sound understanding of the pre-mining state of stress in the stratum to be mined. Irregularities in the stress field encountered during multiseam mining are governed primarily by the previous mining in the surrounding strata. The aim of this study is to quantify the effects of rock mass transverse isotropy on the vertical stress redistribution in the rock strata beneath supercritical longwall panels. Wilson?s equations for determining the stress distribution induced in and beyond a single longwall panel after it has been mined have been adopted, and a plane strain finite element analysis of an elastic medium, together with the stress changes predicted by Wilson, was used to calculate the final pre-mining stresses in the underlying strata. Values of the independent shear modulus (G¢) of the rock strata, ranging from 0.1 to 1 times the isotropic shear modulus (Giso) in the plane of the strata, and a Poisson?s ratio (?) of 0.25 have been investigated. The key finding of this study is that the predicted magnitude of vertical stress in the transversely isotropic strata beneath a mined supercritical longwall panel is larger and changes more quickly with horizontal distance than is the case for an isotropic rock mass. This finding is of significance for the design of ground support measures in multi-seam mining operations.

Jan 1, 2012

ShouSteel Mining Ltd., a subsidiary of ShouSteel (Group) Co., was founded in 1959 and is located in QianAn City in Hebei Province, China. ShouSteel?s pelletizing plant uses iron ore as a raw material combined with limestone, dolostone, or olivine, with bentonite as a binder. After mixing the raw materials and forming them into small, spherical balls, ShouSteel then fires pellets in kilns for hardening. The company sells the finished pellets as raw materials for blast furnaces used to produce industrial metals such as iron. ShouSteel?s handling capacity is approximately 24.5 Mt/a (27 million stpy) of ore. The company?s production capacity is 3.2 Mt/a (3.5 million stpy) of oxide pellets and 560 Mt (650 million st) of sinters. Until recently, ShouSteel Mining had not replaced its electronic scales in its series of ingredient chambers. Because of the wear and tear on these older scales, the weighing system began to encounter regular problems. The company experienced a high failure rate from the integrator, an unstable signal, weak anti-interference ability and low accuracy. ShouSteel also found that spare parts required during repairs were consistently high in cost and that system calibration was becoming increasingly frequent.

Jan 1, 2012

By R. Adams

Zirconium is the 20th most abundant element in the Earth?s crust and it most often occurs in the form of silicate (as zircon), less often in the oxide form (as baddeleyite or caldesite). Historically, the world?s production of zircon was entirely derived from mining and processing beach sands or heavy mineral sands that were being exploited primarily for their titanium content, i.e., to generate TiO2 feedstocks that would be used for making titanium pigments and, to a lesser extent, titanium metal. Zircon was then regarded as a byproduct, with the sharply fluctuating prices typical of a commodity where the supply is essentially involuntary and not truly responsive to market demand. However, in recent years, zircon has shown considerable mining investment appeal in its own right. Projects have been planned ? and some have already come to fruition ? based mainly on the zircon potential of the deposit. Booming Chinese demand for zircon to meet the requirements of the ceramic and zirconium chemical sectors has been a major factor causing zircon prices (f.o.b. Australia) to surge from US$674/t ($611/st) at [ ] the end of 2005 to beyond US$2,400/t ($2,177/st) by the end of 2011.

Jan 1, 2012

By S. Constantinides

"A major use for many of the rare earths is in permanent magnets. While alternate technologies are in research or already exist, rare earth magnets are unlikely to be supplanted as a major input to clean technologies and high efficiency consumer and industrial devices. We’ll examine where and how the magnet rare earths are utilized and the size of the market. Market growth forecasts based on global markets will be presented. A brief explanation of materials research in the US completes the material.INTRODUCTIONRare earth magnets, first commercialized c.1969, have become essential for a wide range of consumer, industrial and military devices. They are used in the speakers and vibrator motors of cell phones. Rare earth magnets spin the hard discs within the drives and rare earth magnet voice coil motors position the read/write head over the spinning platter. Rare earth magnets are the heart of motors and generators used on airplanes – they are smaller and lighter weight than alternative materials/devices. Now rare earth permanent magnets are being introduced into electric vehicles and wind power generation.Rare earth minerals are difficult to extract from the ores and to separate from one another. The increase in use of rare earth magnets has placed a severe strain on established sources of supply. The establishment of new mines and processing facilities is costly and requires upwards of 15 years to become productive. The combination of rapid rise in use of rare earth minerals coupled with supply shortages has caused rapid price increases and threat of non-delivery of product. The result of this disruptive situation has been a profound response at several levels: corporate, industry-wide and governmental. Let’s learn more about why rare earth magnets are so important to modern society."

Jan 1, 2012

By W. G. Huang

To recover the coal resources of high-sulphur anthracite in Jincheng Mining Area, underground coal gasification (UCG) of No. 15 seam in Fenghuangshan Coal Mine was proposed. The feasibility of the project was confirmed by investigations of occurrence conditions, coal properties, and roof conditions, as well as experimental studies and theoretical analysis. It was found that UCG technology is appropriate to be adopted in the mining of the No. 15 seam, due to the stable rock conditions, simple geological structure and hydrogeology, the high carbon content of the coal, non-cohesiveness, medium-thermal stability, high ash fusion temperature, and weak reactivity with CO2. Further factors are the characteristics of the immediate roof, which consists of 9.11 m of limestone and mudstone with a compact structure and low permeability, and 4.27 m of dominantly mudstone with low permeability.

Jan 1, 2012

By John Hickey

Management teams at mining companies begin to ask themselves whether to take a company public and, if so, how to do it as they approach the normal threshold for going public in terms of revenue and operating performance. Today, the expense of going public generally suggests the company has at least $20 million in annual revenue and at least $2 million in cash. The revenue number can be lower for mining companies with large reserves. In order to properly attract the investing public, the company must also be operationally strong with robust prospects. The company should have a strong management team and a consistent history of double-digit growth that will continue into the foreseeable future. Assuming the thresholds are met, a company?s management needs to weigh the pros and cons of going public.

Jan 1, 2012