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"The Australasian Joint Ore Reserves Committee (JORC), which is sponsored by the Australian mining industry and its professional organisations, developed the JORC Code to provide minimum standards for public reporting. JORC was first published in 1989 and later incorporated into the Listing Rules of the Australian and New Zealand Stock Exchanges making compliance mandatory for listing public companies in Australia and New Zealand."

Jan 1, 2003

By Tapani Järvinen

Non-ferrous metals and metals in general are considered as being non-renewable natural resources. Metals are needed because of their excellent and irreplaceable properties. The consumption of metals, with the exception of carbon steel, is steadily growing by 1-3 % annually, and that of stainless steel as much as 3-6 %. This is a general trend, which is periodically disturbed by cyclical variations. In recent years so-called "New Economy" has become prominent in the public media and the market value of the traditional industry has been well below its real value and importance. Nevertheless, the modem society requires metals today and also in the future, and the companies using the most modem technology in a responsible way and innovative solutions not only in technology, but also in everything they do will survive. This paper describes the role of Europe as a producer of primary base metals and as a supplier of technologies in the base metals industry. It concentrates on the development and commercialization of technologies and project implementation in the metallurgical industry. As one example of a European approach to these matters the paper presents Outokumpu' s response to the future challenges in the base metals industry. Outokumpu Oyj is one of the leading metals and technology companies in the world of stainless steel, copper, zinc, and sales of technology in metals and minerals businesses. Outokumpu applies its knowledge of metals and processing to generate value for its customers and shareholder. Everything we do, we do in an economically, environmentally and socially responsible way.

Jan 1, 2003

By Doug Halbe

?Many are called, but few are chosen.? The biblical adage applies not only to life, but also to hydrometallurgical processes. There have been, in the past, many outstanding successes with new processes ? and also some dismal failures. What are the odds of success for a new process? When there have been problems, why? What can you do to make sure these problems don?t occur with your process? What effect will a slow startup have on project economics? How do financial institutions ? the people who loan your company money for the project ? feel about new processes and why? Is it possible to predict or estimate the time required to reach design parameters?and if so, how do you sell this estimate to management ? and financial institutions? Probably most important ? when do you start thinking about the answers to these questions?

Jan 1, 2003

By G Milligan

This paper describes how water is being planned, managed and used in Queensland as both a precious natural resource, vital for healthy ecosystems, and as a valuable tradeable commodity, necessary to secure economic prosperity. Queensland has been progressively implementing a planned package of water industry improvements agreed by the Council of Australia Governments in 1994. The Water Act 2000 provides the legislative basis for implementing the COAG water reform framework in Queensland and sets out statutory water planning processes. A Water Resource Plan (WRP) is a strategic document that specifies water sharing and environmental flow outcomes across a whole catchment over a period of up to ten years. A Resource Operations Plan (ROP) sets out the details of implementing a WRP, including environmental flow rules, establishment of tradeable water allocations that are separate from land, rules for water trading, rules for operating water infrastructure, arrangements for the release of any unallocated water identified in the WRP, and requirements for monitoring and reporting. Water Resource Planning and Resource Operations Planning are progressing in priority catchments and aquifers across the State. Ways to obtain a water entitlement now depend on whether a WRP and/or a ROP exist in a particular catchment. Water trading provides for the buying and selling of water entitlements on a permanent basis where permitted under a ROP. Details of tradeable water allocations are securely registered on the Water Allocations Register, which is similar to a land titles register. Leasing and temporary transfers of water entitlements are also possible. Water brokers are emerging to facilitate water trading which aims to improve water use efficiency and move water to higher value uses. Queensland is leading the way in the implementation of the COAG water reform framework and the pursuit of sustainable water resource management. The StateÆs progress in this regard is increasing certainty for water users, while ensuring that considerations of equity amongst existing and future users and amongst various uses, as well as considerations of ecological sustainability and the wider community, are all taken into account. The mining sector stands to benefit substantially from these new approaches to planning, managing and using this precious resource.

Jan 1, 2003

By Karl J. C. Harries

"6.1. INTRODUCTIONThis chapter comments on some of the more common types of agreements related to property examination and acquisition, other than the farm-in/joint venture agreement or common undertaking, which is dealt with in the next two chapters. Many of the comments made in Part IV of Chapter 4 apply equally to any such agreement. In addition, many of the comments in Chapter 8 and the examples in Volume II are most certainly relevant to many other types of agreement.6.2. RIGHTS OF FIRST REFUSAL1A right of first refusal is a right that obligates an owner to offer his property, or an interest therein, to the holder of the first right if the owner intends to sell or otherwise dispose of it. It may be triggered either by the owner wishing to offer his property for sale or by receipt of a bona fide offer to purchase his interest from an “outside” third party. The mechanics and procedures to implement a first right should be set out clearly in the agreement, and their basics are the same, whether the first right is a stand-alone document or is part of an acquisition agreement.2Rights of first refusal are common in agreements to permit some control over the disposition of an interest and there they can be a valuable provision. However, some explorationists feel that they are also a good stand-alone agreement to have while a property is being evaluated to decide whether or not it is worth optioning. The reasoning is that such an arrangement will tie up the property to allow a quick look and, if the property looks interesting, the balance of the term of the first right will give an ample exclusive period of time to negotiate with the owner and settle an acquisition agreement. In addition, the explorationist is protected by the first right if the owner decides to negotiate a deal with another party."

Jan 1, 2003

By Adolf Mikula

Lead-tin solders are commonly used in electronic packaging due to their unique combination of electrical, chemical, physical, thermal and mechanical properties. Since it is known that lead and lead containing alloys cause great environmental concern and health hazards it is necessary to replace lead in solder materials. Besides the environmental concerns new technologies in electronic packaging require new and improved solders. In most cases the new solders will consist of ternary or quarternary alloy systems, the main component will be tin or indium and the second element could be bismuth, silver, copper and gold and to improve certain properties a third element will be added. For a third element zinc, nickel, antimony and aluminum can be considered. This report will concentrate on solders containing zinc as an environmental safe element.

Jan 1, 2003

By H. Masuda

The lijima Zinc Refinery started operation in 1972, and has today an annual capacity of 200, 000+-Zn. The hematite process was employed for the first time and the ideal of waste-free refinery has been pursued for 30 years. In recent years, however, only half of the hematite produced would be sold to the cement industry and hence a reduction of arsenic level has been necessary in order to sell the entire amount produced, The arsenic cementation process with zinc powder, developed through a long time laboratory research was found among some options as the best for the hematite process. The construction work started in 2000 and the facility was put into operation in 200 I. As a result in the same year all hematite were sold to the cement industry. The outline of this project, present operations and technical issue are reported in this paper.

Jan 1, 2003

By T. Maejima, K. Aoki, T. Mori, K. Iwano

Concerning the excavation of rock cavern, it is one of the most important issues to evaluate the behavior of rock joints. But few detailed measurements for joint behavior had been conducted. Therefore, in order to evaluate the stability of rock cavern, effective approach for monitoring and analyzing the joint behavior needs to be developed. In this paper, authors described the results of analysis for joint behavior during the excavation by comparing with both results of the in-situ measurement by BTV and the numerical analysis by MBC model. Bei Ausschachten von Gesteinshöhlen ist es von besonderer Bedeutung, das stark von den Verbindungsteilen beeinflusste Gesteinsverhalten zu bewerten. Jedoch wurden bisher nur wenige Beobachtungen über das Öffnungsverhalten von Verbindungen durchgeführt. Daher muss ein effizientes Verfahren zur Überwachung der Stabilität unterirdischer Höhlen und der Analyse des Verhaltens von Verbindungsstellen entwickelt werden. In der vorliegenden Studie beschreiben die Autoren das Verhalten von Verbindungsstellen während der Ausschachtung durch Vergleiche sowohl mit den Ergebnissen von in situ Messungen mittels BTV als auch numerische Simulation mit dem MBC Modell, welches auch Diskontinuitäten berücksichtigen kann. Quand il s’agit d’excaver une caverne dans une roche ayant des joints très développés, il importe fort d’évaluer le comportement de la roche. Cependant, le nombre d’observations du comportement des roches effectuées au niveau de joints est loin d’être suffisant. Par conséquent, pour s’assurer de la stabilité des parois des cavernes souterraines, il a fallu mettre au point une méthode fiable de détection et d’analyse du mouvement des joints. Dans cet article, les auteurs décrivent leurs études de comportement des joints pendant l'excavation, en comparant les résultats des mesures effectuées in-situ, dans un chantier d’excavation par BTV , avec ceux d’analyse de la simulation numérique par MBC permettant de tenir compte des discontinuités.

Jan 1, 2003

By Karl J. C. Harries

"7.1. INTRODUCTIONThis chapter addresses the joint venture and examines a number of general concepts of the joint venture relationship. Chapter 8 looks at some specific concepts related to the provisions of a joint venture agreement, which are equally applicable to a shareholders’ agreement or other contractual relationship. The term “joint venture” is used because the author is a common law solicitor (a matter of convenience for which apologies are offered to civil law readers), but it should be noted that, in many aspects, the legal structure of an entity is irrelevant. It is the relationship of the parties, be they venturers or shareholders, that is important, and the areas of concern are surprisingly similar (except for terminology).The details of the joint venture relationship and agreement could fill several books. Accordingly, this chapter and the next focus on selected topics that appear to have caused problems or confusion or to be the basis for disputes. And remember that, although the following discussion is in the context of a joint venture, many of the comments apply, either directly or indirectly, to virtually any common undertaking and the agreement defining it.For interest’s sake, this chapter starts with a summary of some of the earlier types of agreements and arrangements that have evolved into the joint venture agreement of today in Canada, the philosophy of their format, and the reasons for their demise.7.2. EVOLUTION OF THE CANADIAN JOINT VENTUREThe Early DaysMuch of the opening up of Canada’s north is due to exploration for and development of mines. The early discoverers were relatively free to roam and explore at will and, if they were fortunate enough to find something, they dealt with the appropriate government to acquire exploitation rights. The early interests lay in gold or silver. Workings were small, usually worked by the owner alone or with only a couple of helpers to extract the native gold or silver. If the owner wanted to move on, he could sell his property outright and use his stake to look elsewhere.As logging and mining camps were opened, the development of better roads and railways made access easier. Entrepreneurs saw the opportunity to make money by assembling large parcels of land and working them as a single operation. In order to do this, some owners who were not ready to sell out had to be convinced to do so through more attractive offers"

Jan 1, 2003

By Karl J. C. Harries

"4.1. INTRODUCTIONThis chapter, although divided into four parts, deals with only two principal topics. The first briefly describes and discusses some common types of property interests and considerations relating to them and the second deals with entering upon privately owned lands and obtaining the consent to do so.It should be noted that the terms “mining rights” and “mineral rights” are used interchangeably. As so used, they include the right to exploit the minerals and dispose of them for the benefit of the owner/lessee. This is relatively common in common law jurisdictions. In some jurisdictions, the two terms have distinct meanings, with “mining rights” referring to the right to work or exploit the minerals and “mineral rights” referring to the minerals themselves.Finally, it must be mentioned that the comments in the Introduction and §§ 4.2., 4.3. and 4.4. are based primarily upon Ontario law and Ontario’s mining and real property systems of registration. They have been included for illustrative purposes.4.2. LICENCES, CLAIMS, AND LEASESIn most jurisdictions, there are several basic types of interests that can be obtained from the state for mining purposes and that are of interest to the explorationist, as opposed to the operator. Different jurisdictions will have variations of these and possibly some extra ones that will address special purposes or local concerns. In virtually every jurisdiction, privately owned property rights are obtained through negotiation between owner and acquiror.Exploration or prospecting licence. This licence grants to the holder the right to prospect over a large tract of land and the exclusive right to acquire mining claims within that tract for the term of the licence. Such licences are usually negotiated documents requiring a minimum expenditure during the first year (often secured by a deposit or surety bond) and minimum annual expenditures thereafter to continue the licence in force up to its full term. The term will rarely exceed four years. The number of claims permitted to be staked will be limited in some way, possibly as to a maximum aggregate area or a maximum number of claims per annum. It is normal for the holder to have to drop part of the licensed area each year, so that the area shrinks annually, although exploration expenditure requirements will usually increase.These types of licences are usually used by governments to encourage exploration of otherwise unattractive or remote areas, such as the far northern parts of some of Canada’s provinces. They do not grant any real property interest in the area for which they are issued, and they will be subject to any claims or property rights that exist in the area. They are contracts with the state that grant certain exclusive rights in return for commitments to carry out work. They may or may not be specifically authorized by statute."

Jan 1, 2003

By Fred N. Kissell

This handbook describes effective methods for the control of mineral dusts in mines and tunnels. It assumes the reader is familiar with mining. The first chapter deals solely with dust control methods, regardless of the application. It is a brief tutorial on mining dust control and will be of help to the reader whose dust control problem does not conveniently fit any of the mining equipment niches described in later chapters. The subsequent chapters describe dust control methods for different kinds of mines and mining equipment. This includes underground coal and hard-rock mines, as well as surface mines, stone mines, and hard-rock tunnels. Because dust sampling has so many pitfalls, a chapter on methods used to sample dust is included. For those occasions when there is no practical engineering control, a chapter on respirators is also included. Except for those listed as ?future possibilities? in the longwall chapter, the dust control methods described are practical and cost-effective for most mine operators. If controlling dust were a simple matter, dust problems in tunnels and mines would have been eradicated years ago. Unfortunately, most underground dust control methods yield only 25% to 50% reductions in respirable-sized dust. Often, 25% to 50% reductions are not enough to achieve compliance with dust standards. Thus, mine operators must use several methods simultaneously, usually without knowing for sure how well any individual method is working. In fact, given a 25% error in dust sampling and day-to-day variations in dust generation of 50% or more, certainty about which control methods are most effective can be wanting. Nevertheless, over the years, some consensus has emerged on the best dust control practices. This handbook summarizes those practices.

Jan 1, 2003

By A. T. Sutaone

"Battery grade Mn ore is not found in India except in Dongri-Buzurg Mine, Dist. Bhandara, Maharashtra. The mine located in central India is operated by a premier company viz. Manganese Ore India Ltd., under Central Government Public Sector Undertaking. The company is not selling the product as battery grade material but instead primarily catering to the needs of the iron and steel industry in the country. However, a part of the ore is being used in-house for the production of electrolytic manganese-dioxide in their EMD plant, which is located near the mine.The production of lumpy ore for steel industries generated through multi-stage crushing and screening has resulted in accumulation of about 50,000 tonnes of low grade fines over the year, which contain low of Mn values. Further, the generation of fines is still on going process due to the production of lumpy ores. These fines are stacked in the form of unconsolidated dumps, which create environmental problems like air and water pollution and siltation in the adjoining fields. Besides they are occupying large space, which is scarce in this mining area. The Indian Bureau of Mines under one of its statutory functions has suggested the company to explore the possibility of recovery of additional values under conservation and environmental aspects. Hence the company has sponsored a bulk sample for beneficiation studies in the Modern Mineral Processing Laboratory and Pilot Plant of Indian Bureau of Mines at Nagpur, India. The main manganese minerals present in these mine rejects have been identified as pyrolusite and psilomelane. The purpose of this study was to explore the possibility of evolving a suitable beneficiation flowsheet to obtain manganese concentrates assaying over 72% MnO2 to be used as raw material for the manufacturing of dry cell batteries."

Jan 1, 2003

By Karl J. C. Harries

"11.1. INTRODUCTIONA royalty is the most common form of interest retained by an owner who is disposing of his property or by a joint venturer who ceases, voluntarily or otherwise, to participate in the joint venture.1 Rarely does a non-participating party have a direct interest in the property and/or assets of a project, except during the period when a non-participating joint venturer may be having his interest diluted.2 In fact, it is most unwise to permit a non-participating party to have such an interest. It may give rise to significant problems that could prevent or substantially delay the development of an orebody and require a considerable amount of time, effort, and money to correct.3In negotiating a royalty, it is important to be aware that there is no law or convention that says, “You just don’t do that in a royalty agreement.” As with any agreement, inventiveness and flexibility on the part of the negotiator are not just assets, but virtual necessities. It is also for this reason that it is essential to read the royalty provisions, particularly the definitions, fully and carefully, especially if you are the recipient. On the other hand, if your inventiveness and flexibility cause your accountant to question the advisability of one of your ideas, pay close attention to him.4 He will, no doubt, have had experience with many royalties, and no competent professional adviser disparages a client’s ideas without good reason. Besides, he will probably be the person who will be determining the royalty or certifying the determination of it. At the very least, he will be auditing your general financial statements, which must, of course, reflect the royalty determination. Heeding his advice not only may make the determination easier but also will probably save you money in professional fees later on. Nevertheless, do not simply accept his comments or recommendations without understanding what they mean, why they have been made with respect to your royalty agreement (sometimes professionals have comments that they make as a matter of course and, even though they may be valid, you should require them to be justified to you), and how they will affect your royalty determination.It is surprising how many corporate payors insist that their standard royalty provisions5 be used as a matter of policy, thereby effectively tying the negotiator’s hands. It is even more surprising, and to professional advisers frightening, how many of the senior employees who insist that such a policy be adhered to, virtually without variation, do not know what is in the standard provisions and would be hard-pressed to explain them to a property owner. If standard provisions are appropriate, by all means use them, but do allow experienced and sensible negotiators some flexibility and make sure that everyone within the corporation who may have to use such provisions – negotiator and supervisor alike – knows what they contain and why they are as they are. For example, there are often good and convincing reasons to describe a deduction in a certain way or to include a certain specific type of deduction. On the other hand, quite often the answer to the question “why?” is that “it has always been there”; this is, or should be, an unacceptable answer. In any event, if you, as the negotiator, appear to know what you are talking about, are familiar and comfortable with your royalty provisions, and are backed up by your boss with the same words or reasoning, a property owner cannot help but be satisfied that you are knowledgeable, even if he still does not agree with your provisions. Finally, if you do use standard provisions, make sure that they are reviewed and updated regularly."

Jan 1, 2003

By J. D. de V. Louw

Introduction Zircon is a natural occurring mineral and may exhibit natural low level radioactivity. It contains trace levels (90 to120 pCi/g and 110 to 115 pCi/g respectively or 3.3 to 4.4Bq/g and 4.1 to 4.3 Bq/g) of naturally occurring radioactive uranium and thorium. This mineral is often found in a suiteof minerals (rutile, ilmenite and monazite) Due to the overlap in physical properties of monazite (containing 4–7% thorium) with some of the zircon (slight magnetic susceptibility) it often contaminates the zircon, adding to the levels of thorium in the product. Hazards associated with the products from zircon and its processing is inhalation of respirable dust (generated by milling) containing radioactive uranium and thorium which may cause cancer of the lungs. Legislature regulates the transport, use, workplace environment exposure and storage of radioactive material. In America the general regulation for the unlicensed use of low levels of radioactive materials limits the concentration to 500 ppm (U plus Th). Europe (IAEA) specifies a limit of10 Bg/g (Bequerels per gram) on the parents for transport only which is a higher level of U+Th. Companies selling into these markets need to comply with these regulations and certification is therefore required, not only of the major constituents determining the price, but of the U and Th levels as well. Exceeding the limits for U and Th may result in material being returned to the country of origin. However, for the analyst the requirement is to analyse for these elements throughout the production process as well as the analysis of the ‘tails’ that is returned to the mine area. This requires a wide range of concentration to be analysed. Methods of analysis A wide variety of methods exist for the analysis of U and Th in a range of matrices. (Table I) All these methods have been used with varying degrees of success in terms of accuracy. Overall precision for the different techniques varies from 5 to 25% relative. Time to produce results from these methods vary from a few minutes to several days. The Production Chemist is expected to produce between5 and 10 analyses per hour for process control purposes. A suitable technique that fits this requirement is X-Ray Fluorescence. Both Wavelength Dispersive (WDXRF) and Energy Dispersive X-Ray (EDX) instruments are suitable. X-Ray analysis in general has a few major advantages over competitive techniques. •It is fairly simple to set up and interferences are known and easy to correct •It has multi-element analysis capabilities •Clean spectral lines for U and Th (in zircon specifically) •Uncomplicated and easy to measure background •Low detection limits (3 to 5 ppm) •A very high degree of precision •Sample preparation is uncomplicated and fast (pressed powders and fused beads). In Zircon (ZrSiO4) processed sands the matrix is constant(>99% ZrSiO4) and the background is thus essentially constant. A typical set up for the analysis of U and Th by WDXRFis given below: X-Ray Tube Tungsten (W) Target, 2.5 to 3kW operated at 50mA/50kV Crystal LiF200 (or LIF220 for higher resolution) Analytical Lines (2?)U La1,226.14Th La1,227.47 Detector Scintillation Counter Analysis time, depending on the concentration can vary from as little as 20 seconds up to 5 minutes. Standards As with any other comparative technique XRF analysis relies heavily on the quality of the standards used. Assuming proper set-up and operation of the instrumentation as well as consistent sample preparation, accuracy is determined by the quality of the initial calibration standards. A search for the available zircon certified reference materials (CRMs) shows that there are only a few CRMs

Jan 1, 2003

By W. Robert, J. Wirth, G. Grasselli

ABSTRACT: Strength, deformability and fluid flow properties of rock joints are to a great extent controlled by the surface roughness. The hydraulic conductivity of a rock fracture depends on the aperture distribution, the surface roughness and the contact area, each of which depend on the stresses that act on the fracture plane. However, despite much recent work, a complete understanding of the relationship between void space geometry, contact areas, applied stress, and hydraulic conductivity has yet to be achieved. Moreover, although in situ rock joints are subjected to both normal and shear loading, few studies have been conducted to investigate the effect of shear displacements on fluid flow through a single rock fracture, and which have addressed the issue of flow anisotropy induced by shearing. Experimental flow tests show that with increasing shear displacement, the fracture becomes heterogeneous and anisotropic, and becomes more permeable in the direction parallel to the displacement (Yeo et al., 1998). On the other hand, dry shear tests show that the surface fails in areas facing the shear direction (Grasselli and Egger, 2003). Moreover, the experimental results confirm that the shear strength of rock joints is direction-dependent. In this paper, a three-dimensional morphological description of several a natural fractures that have undergone shear displacement were generated using the Automated Topographic System at the University of Basel. The data analysis method of Grasselli (Grasselli et al., 2002a) is used to determine the surface parameters that are known to control the shear strength. Simulations of fluid flow through this fracture, in various directions relative to the direction of shear, are conducted using an FEM flow simulator. The results constitute the most detailed analysis yet undertaken of the relationship between shear displacement, shear strength, and fracture transmissivity. RESUME: La rugosité des joints en roche joue un rôle primaire sur la réponse hydromécanique du massif fracturé. En effet, la conductivité hydraulique des discontinuités en roche est influencée par la rugosité, et par la distribution des ouvertures et des zones de contact, dont chacun dépend de l’effort normal et du cisaillement qui agissent sur la surface du joint. Les essais d'écoulement en laboratoire montrent que si cisaillée, la fracture devient anisotrope, et plus perméable dans la direction parallèle au déplacement (Yeo et al., 1998). D'autre part, les essais de cisaillement indiquent que seules les zones de la surface qui font face à la direction de cisaillement sont impliquées dans le cisaillement (Grasselli et Egger, 2003). D'ailleurs, les résultats expérimentaux confirment que la résistance au cisaillement des joints de roche est dépendante de la direction. Dans cet article, plusieurs fractures en roche ont été analysées en utilisant un système de mesure topographique à l'Université de Bâle. La méthode d'analyse de données proposée par Grasselli (Grasselli et al., 2002a) a été employée pour calculer les paramètres de la surface qui déterminent la résistance au cisaillement. Plusieurs simulations du coulage, dans diverses directions relativement à la direction du cisaillement, ont été faites à l’aide d’un programme de calcul à éléments finis. Les résultats constituent une des analyses les plus détaillé sur le rapport entre le déplacement pendant le cisaillement, la résistance au cisaillement, et la transmissivité spécifique de la fracture. ZUSAMMENFASSUMG: Die Festigkeit, Verformbarkeit und Hydromechanik von geklüftetem Fels wird hauptsächlich von der Oberflächenrauhigkeit der Bruchflächen bestimmt. Die hydraulische Leitfähigkeit einer Kluft hängt von der Verteilung der Rissbreiten, der Oberflächenrauhigkeit und den Kontaktflächen ab, die ihrerseits von dem auf die Bruchfläche wirkenden Druck beeinflusst werden. Obgleich in letzter Zeit viel in dieser Richtung geforscht wurde, kann der Zusammenhang zwischen Porenraumgeometrie, Kontaktflächen, wirkendem Druck und hydraulischer Leitfähigkeit noch nicht vollständig erklärt werden. Obwohl Klüfte in situ sowohl Normal- als auch Schubspannungen ausgesetzt sind, wurde der Einfluss von Scherverschiebungen auf den Kluftwasserfluss und die daraus resultierende Fliessanisotropie in einer einzelnen Kluft bisher kaum untersucht. Experimentelle Untersuchungen des Durchflusses zeigen, dass die Kluft für größer werdende Scherverschiebungen heterogen und anisotrop wird wobei die Permeabilität parallel zur Verschiebungsrichtung ansteigt (Yeo et al., 1998). Andererseits zeigen trockene Scherversuche, dass die Oberfläche an Stellen versagt, die gegen die Verschiebungsrichtung anstehen (Grasselli und Egger, 2003). Des weiteren bestätigen die experimentellen Ergebnisse eine Richtungsabhängigkeit der Kluftscherfestigkeit. In diesem Artikel wird eine dreidimensionale morphologische Beschreibung mehrerer natürlicher, durch Scherspannungen verschobener Klüfte vorgestellt, die vom Automated Topographic System der Universität von Basel erstellt wurde. Das von Grasselli (Grasselli et al., 2002a) entwickelte Datenanalyseverfahren wird zur Feststellung der die Scherfestigkeit bestimmenden Oberflächenparameter herangezogen. Mittels einer FEM-Simulation wird der Durchfluss durch eine solche Kluft in verschiedenen Richtungen simuliert. Die Ergebnisse stellen die bisher ausführlichste Analyse des Zusammenhangs zwischen Scherverschiebung, Scherfestigkeit und Durchlässigkeit (Transmissivität) einer Kluft dar.

Jan 1, 2003

By Robert T. McKnight

"Traditional techniques for valuing resource projects companies have been primarily based on discounted cashflow methods (DCF) or by comparison to similar projects with an apparent market capitalization. Many resource projects are really forms of options to invest rather than a future cashflow stream. Employing the DCF method to value a resource project which is really an option to invest, can dramatically underestimate the real value of the project. The analytical tools required to evaluate options, while more complicated than the usual spreadsheets used for DCF, are becoming more easily available and usable by managers. This paper will discuss the background of options valuation and some of the tools which will make it easier for managers to estimate the value of projects and companies which have significant real option values.ResumeBob McKnight is a graduate of the University of British Columbia in Geological Engineering, supplemented by an MBA from Simon Fraser University. Following several years in the oil patch with Cities Service and Brascan, Bob returned to Vancouver in 1979 to work for Wright Engineers. He subsequently went on to work for Cassiar Mining, Getty Resources and Endeavour Financial before joining Pincock Allen & Holt Ltd. in 1998. His experience ranges from exploration to feasibility studies, financial evaluations of mining and oil & gas projects, due diligence, project finance, valuations and mergers and acquisitions. He has extensive international mining experience pertaining to such countries as Chile, Mexico, Uruguay, Thailand, Indonesia, Angola, Papua New Guinea, Kazakhstan.What are Options?Options have been around for centuries. They were familiar to Roman and Phoenician traders who were shipping cargoes from Mediterranean seaports. In the financial world, options are types of contracts that generally include the right, but not the obligation, to buy or sell a share, currency or commodity. The underlying commodity price or share price changes are assumed to be lognormally distributed. In this context, options are of two general types, ""call"" options and ""put"" options. Call options have the characteristic of having the right to buy a tradable commodity or currency at a predetermined price for a specified period of time. For the owner of call options, they become more valuable as the price of the underlying commodity increases. For the seller of call options, these options become an increasing liability as commodity prices rise, since there is the obligation to sell the commodity at a predetermined (perhaps lower-than-market) price. This characteristic of call options recently became high profile with the sharp rise in gold prices last year. The value of gold call options sold by certain producers increased their associated liabilities to the point where margin calls were made."

Jan 1, 2003

By Tapani Järvinen

Non-ferrous metals and metals in general are considered as being non-renewable natural resources. Metals are needed because of their excellent and irreplaceable properties. The consumption of metals, with the exception of carbon steel, is steadily growing by 1-3 % annually, and that of stainless steel as much as 3-6 %. This is a general trend, which is periodically disturbed by cyclical variations. In recent years so-called "New Economy" has become prominent in the public media and the market value of the traditional industry has been well below its real value and importance. Nevertheless, the modem society requires metals today and also in the future, and the companies using the most modern technology in a responsible way and innovative solutions not only in technology, but also in everything they do will survive. This paper describes the role of Europe as a producer of primary base metals and as a supplier of technologies in the base metals industry. It concentrates on the development and commercialization of technologies and project implementation in the metallurgical industry. As one example ofa European approach to these matters the paper presents Outokumpu's response to the future challenges in the base metals industry. Outokumpu Oyj is one of the leading metals and technology companies in the world of stainless steel, copper, zinc, and sales of technology in metals and minerals businesses. Outokumpu applies its knowledge of metals and processing to generate value for its customers and shareholder. Everything we do, we do in an economically, environmentally and socially responsible way.

Jan 1, 2003

By Silvano Morelli, Giovanna Cassani, Renzo Bindi, Antonio Nicola

More than 70 km of main line and service tunnels have been excavated to date for crossing the Apennines between Bologna and Florence. A new design and construction approach, known as Analysis of the Controlled Deformation in Rock and Soils, (ADECO-RS), was adopted to tackle the extreme heterogeneity of the ground and the particular stress-strain conditions. The goal of this system is to obtain constant and predictable full section advance rates, even in very poor geology, with the highest possible level of safety and reliability. The execution of this gigantic project required the mobilization of 21 job-sites, with the concurrent operation of 30 excavation headings. The global production rates confirm the high quality of the design and the high level of industrialization reached during the construction stage, levels not previously obtained in similar conditions, using other approaches such as NATM.

Jan 1, 2003

By Karl J. C. Harries

"9.1. INTRODUCTIONIn Chapter 5 of Volume I royalties are dealt with and several topics would appear to be duplicated in this Volume. However, Volume I may be looked upon as a general guide, whereas this Volume is a reference volume. It deals in considerable detail with specific provisions and concepts relating to royalties between private parties. This does not, however, mean that Chapter 5 can be ignored. It should be looked upon as a source of general information concerning royalties between private parties and as a negotiating aid intended to give an overview of various topics. You may well find that in its general approach it will lead you to ask a question which, hopefully, will be dealt with in this Volume .It should be remembered that royalty agreements are agreements with a particular focus, and so the concepts set forth in Chapter 1 apply to them. This chapter addresses a few considerations specific to royalties that will usually form part of an agreement rather than a stand-alone agreement.9.2. FORMAT FOR ROYALTY PROVISIONSIn many of the cases where royalties arise, they are adjunct to, or part of, other arrangements. For example, a royalty may form part or all of the consideration to be given to an owner upon purchase of his property, or it may arise if a joint venturer ceases to contribute to the venture and has his interest converted to a royalty.1 It is with such situations that this section primarily deals; if the royalty is contained in an agreement that is singularly, or primarily, concerned with creating it, then it is just a normal agreement.Commonly, by the time the right to receive the royalty arises, at least some of the other provisions of the agreement have been performed and/or become redundant. For example, in an option agreement the royalty will be a continuing obligation of the optionee, usually arising only after the option has been exercised.2 In a joint venture agreement, a royalty will often arise where the interest of a non-participating venturer has been diluted and converted to a royalty, in which case the recipient will usually become a passive party, entitled only to his royalty, and most of the rights that he enjoyed as an active venturer will cease to be effective."

Jan 1, 2003

"The United Nations, through the secretariat of the United Nations Economic Commission for Europe (UNECE) and its Ad Hoc Group of Experts on Harmonization of Fossil Energy and Mineral Resources Terminology, developed the Framework Classification.The UN Classification applies to fossil energy and mineral reserves and resources located on or below the Earth's surface. It aims to simplify reporting of energy and mineral reserves and resources in a globalized world and is intended to improve global communications regarding remaining quantities of non-renewable fossil energy and mineral resources. The UN Classification is not recognized as a Foreign Code under NI 43-101.SECTION I1.,The United Nations Framework Classification (UNFC-2009) applies to fossil energy and mineral reserves and resources located on or below the Earth' s surface. It serves the needs for classification at a global level (for energy and mineral supply studies), for governments (resources management and policy formulation), for industry (business process management) and for financial reporting.SECTION II2.,The UNFC is a generic system in which quantities are classified on the basis of the three fundamental criteria of economic and social viability (E), field project status and feasibility (F), and geological knowledge (G), using a numerical coding system. Combinations of these criteria create a three-dimensional system. Categories (e.g. El, E2, E3) and, in some cases, sub-categories (e.g. E1.1) are defined for each of the three criteria as set out and defined in Annexes I and II.3 The first set of categories (the E axis) designates the degree of favourability of social and economic conditions in establishing the commercial viability of the project, including consideration of market prices and relevant legal, regulatory, environmental and contractual conditions. The second set (the F axis) designates the maturity of studies and commitments necessary to implement mining plans or development projects. These extend from early exploration efforts before a deposit or accumulation has been confirmed to exist through to a project that is extracting and selling a commodity, and reflect standard value chain management principles. The third set of categories (the G axis) designates the level of confidence in the geological knowledge and potential recoverability of the quantities.4. The categories and sub-categories are the building blocks of the system, and are combined in the form of ""classes"". The UNFC can be visualised in three dimensions, as shown in Figure 1, or represented in a practical two-dimensional abbreviated version as shown in Figure 2."

Jan 1, 2003