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By R. B. Toombs

In describing the Canadian mineral industry in a world setting, this paper examines the industry from four points of view. First, mineral industry growth is related to trends in economic activity thereby providing a measure of the industry's importance in the Canadian economy. To give perspective to the Canadian scene, reference is made to economic trends in several of the world's leading mineral producing and mineral consuming countries. The Canadian mineral industry is next examined in terms of its major developments of the past 20 years and the resultant size, structure, and production diversity of 1964. The position of the Canadian mineral industry in the world industry is then analyzed by tracing changes in mineral supply and demand patterns. Growth of the Canadian industry depends greatly on expansion of export markets because three fifths of the value of production is accounted for by exports. Finally, attention is directed to the outlook for the Canadian mineral industry. Problems facing the industry are surveyed, and an appraisal is made of economic policies that have encouraged industry growth. A forecast of mineral production value in 1970 is included.

Jan 1, 1964

By A. E. Boone

"The paper presents critical areas in which improved coordination of effort by industry, government and sup-pliers will be essential to continue the growth record of the Canadian mining industry into the 'seventies'. The analysis includes: exploration, production, mining methods, research and development, markets, management and industrial relations. Performance objectives are suggested where tangible results can be measured. The author suggests the methods by which the 'seventies' can be the greatest decade in the history of Canadian mining. It is indicated that a national mineral policy is essential to the Canadian mineral industry."

Jan 1, 1970

By J. M. Clark

(Wilkes-Barre Meeting, June, 1911.) For some years past, those interested in the development of the increasingly important mining industry of Canada, have urged the adoption by the Dominion Parliament of a federal mining-law, which would have the force and stability of statutory enactment. At present, placer-mining in the Yukon Territory, is governed by the Yukon Placer Mining Act. All other mining under federal jurisdiction is governed by 'Orders in Council and Ministerial Regulations. In the earlier stages of development, it is perhaps a matter of necessity that these important matters should be so dealt with; but it is now felt that the time has come when mining-rights in the extensive regions under federal control should be put on a permanent basis, -and that any changes required from time to time should be made only after full and open discussion in Parliament. A short sketch will suffice to indicate how vast and varied the interests affected really are. When the Dominion of Canada was constituted by the Imperial Statute known as the British North America Act of 1867 (which came into force by proclamation on July 1 of that year), it comprised only the present Provinces of Ontario, Quebec, Nova Scotia, and New Brunswick; but provision was made for the inclusion of Newfoundland, Prince Edward Island, British Columbia, Rupert's Land, and the North West Territories. Subsequently Rupert's Land and the North West Territories were acquired, the 'Crown Colonies of British Columbia and * SECRETARY'S NOTE.-Mr. Clark, an eminent Canadian lawyer, and joint author of the treatise on "The Law of Mines in Canada," has been requested by the Do¬minion Government to prepare a Federal mining-law, and presents this paper, by invitation of the Council, in order to obtain, if possible, useful suggestions from members of the Institute.-R. W. R.

Apr 1, 1911

By E. W. Shaw

The past year (1950) has been a big one for the oil industry in Canada, with new records being set in almost every phase of exploration and development activity. New highs were reached in acreage holdings, in geophysical activity, in wildcat drilling, and in field development and production. The only item that did not show a substantial increase over recent years was the amount of reserves added by new discoveries. This was not due to a decrease in the number of new discoveries, however, hut rather to the fact that most of the discoveries were made during the later months in the year and could not be fully evaluated by the year end. The foregoing remarks pertain mainly to activity in Western Canada. In Eastern Canada, operations continued on a modest scale. with exploration drilling down slightly from the previous year but with development drilling and production at about the same level. Returning to Western Canada, it is observed that the general exploration play was one of expansion and intensification. The issuing of new petroleum and natural gas regulations by the province of British Columbia precipitated a moderate entry of companies into the northeastern part of the Province.

Jan 1, 1951

By W. D. C. MacKenzie

IT IS almost exactly fifteen years since the discovery of the Leduc oil field and, as this luncheon is part of the Thirteenth Annual Technical Meeting of the Institute's Petroleum and Natural Gas Division, it seems, therefore, a singularly appropriate time to discuss the theme which the program committee has suggested for the occasion -the progress of the Canadian oil industry during the fifteen years since the discovery of the Leduc field. As you will see, I plan to take a few minor liberties with this suggested theme. I shall present ample evidence of growth and progress, but, at the same time, I want to refer to some areas where progress has been anything but conspicuous and to see what can be learned from these areas for the future. The achievements of the Canadian oil industry since the Leduc discovery in 1947 have been substantial, and the public is relatively familiar with the more spectacular developments.

Jan 1, 1962

By H. D. Hoskold

I. Instrument-Parts and Implements. Cross-hairs ; Stadia-measurement; Fineness of Graduation ; Cylindrical Gradu ation ; Nonius; Vernier ; One Vernier or two ; Leveling-Screws ; Troughton & Simms' Shifting Tripod-Head ; Hoskold's Shifting Tripod-Head; Hoskold's Extensible Tripod ; Electric Lamp ; Plumb-lines; Chain. II. Instruments. Compass (Mine-compaes of 1518, Compass of 1541, and Agricolals of 1556, Voig tel's Setz-compass, Circumferentor, Stanley's Hedley Dial, Compass on Tele scope, Hanging Compass, Lack of Precision) ; Plane-table; Octant and Quadrant; Theodolite and Transit (Evolution of the Theodolite, Scott's Tachymeter, Hoskold's Engineer's Theodolite, Angleometer, Precision of Mine-Theodolites). I. Instrument-Parts and Implements. Cross-Hairs.—Mr. Scott‡ says Lean's dial " might also have been provided with a diaphragm and cross-hairs; for Huygene discovered that any object placed in the common focus of the two lenses of a Kepler telescope (1611)- appeared as distinct and well defined as any distant body. Following this established theory, in 1669 Jean Picard, Marquis Malvasia and others crossed silken fibers in the mutual focus of their astronomical instruments." If by this Mr. Scott means that Huygens and Picard first devised and applied cross-hairs to the focus of the telescope, the writer cannot agree with him. Huygens did not describe " his telescope without tubes until 1684, in his Astroscopia Compendiaria."§ Moreover, it is recorded that the English astronomer, Gascoigne,?

Jan 1, 1902

By S. L. Gertsman

Canadian steel foundry practice has made marked progress during the past decade. Equipment suppliers, development engineers, and foundry personnel have focussed their attention on every phase of the foundry operation, with a resulting lower demand on manpower and materials. Also, more rigid specification requirements as to dimensional tolerances and quality have necessitated improvement and increased control at every stage from the pattern shop to the cleaning room. The growing trend toward mechanization is clearly evident. Equipment such as sand mixers, sand reclamation systems, material handling devices, moulding machines, core blowers, etc., is being increasingly employed by the steel foundryman. This equipment not only increases production but also tends to lessen the human variable so prevalent and disconcerting in the early days of steel founding. The result has been an improved and more reliable steel casting, which is gradually obtaining wider acceptance by design engineers. The purpose of this paper is to discuss briefly some of the practices being used, and also the direction of development that is being pursued by Canadian steel foundrymen.

Jan 1, 1948

By John Vickers, William H. Hover, Paul C. Schmall

"Any sudden subsurface issue that threatens the stability of existing buildings or infrastructure is cause for immediate investigation and prompt remedial action. Nowhere is this more true than the nation’s dams and levees. A breach of any kind, no matter how small initially, has the potential to be catastrophic and impact a wide downstream area. Addressing the problem quickly and effectively is therefore critical. When a turbid water discharge developed from a rock drainage embankment at the toe of the earthen dam impounding Cannonsville Reservoir, near Deposit, NY, the source of the problem was quickly identified as resulting from an artesian water release from an underlying permeable silty sand and gravel formation during drilling of three exploratory boreholes in preparation for construction of a hydroelectric plant at the downstream toe area of the dam facility. Work was halted, intense 24-hour monitoring was implemented, and as a risk reduction measure NYCDEP began to draw down the reservoir’s total storage at a rate of a billion gallons per day. Input sought from contractors within the geotechnical community helped result in the design and development of a deep well system to control the artesian pressure. Once this primary objective was accomplished, modified compaction grouting was performed at the borehole locations to densify loosened soils, fill any voids created by the discharge activity, and seal off the permeable aquifer. This paper discusses the dewatering program, specialized drilling techniques required, monitoring and verification of pressures within the dam, and the grouting program.BackgroundCannonsville Dam, owned and operated by the New York City Department of Environmental Protection (NYCDEP), is located in Deposit, New York on the West Branch of the Delaware River and impounds the Cannonsville Reservoir. Built between 1959 and 1964, the dam has an impervious central and upstream core zone keyed into the glacial till foundation, a semi-pervious downstream embankment zone, and a rockfill toe and is approximately 2,800 ft (853.4 m) long and 175 ft (53.3 m) high. The dam is formed by two embankment sections. The left section forms the main embankment blocking the main river channel, while the right section is constructed over a topographic saddle or low ridge. Reservoir level is actively influenced by withdrawals through the West Delaware Tunnel, based on water supply need. Under normal circumstances, water is continuously discharged downstream to the Delaware River."

Jan 1, 2016

By L Neems

In conjunction with Orica Explosives, Worsley Alumina have managed a program of continuous improvement to their cap rock blasting over the last two years. Blasting conditions are challenging because of the hard and shallow nature of the material. Blasting costs must be controlled and the environmental consideration of noise and dust is critical. Worsley have sought to determine the optimum balance between drilling and blasting costs and fragmentation. As the cap rock has few inherent weaknesses, loader productivity is strongly controlled by the degree of fragmentation from blasting. The optimum blasting solution is also constrained by maintaining airblast levels at the surrounding residences below 115 dBL . The major blast design parameters optimised during the program were stemming type, stemming length, powder factor and blasthole diameter. A series of carefully managed trial blasts were fired during 1997 and 1998 to quantify the effect of these parameters. Fragmentation was digitally measured using OricaÆs Powerseive G technique. Shovel productivity, airblast levels and blasting costs were also quantified. As a result of the project, Worsley now have an increased knowledge of the key parameters driving blast performance, and their consequent impact on downstream processes, the environment and total mining cost.

Jan 1, 1999

By T. Krumins, F. C. Ruff, M. Eichhorn, L. Zunti

Hatch Ltd. has recently completed a project to increase refractory gold ore processing capacity at Newmont Mining Corporation’s Twin Creeks facility. The objective of the project was to increase throughput by approximately 10% by adding a third autoclave feed pump to each of the two autoclave circuits. To minimize project capital cost, autoclave feed pumps from Newmont’s decommissioned Lone Tree facility were evaluated and found to be suitable for this new service. The existing pressure oxidation circuit was reviewed in a debottlenecking study to determine other upgrades required to facilitate the increased throughput. Interruption to operations was minimized with a detailed construction plan, supplemented with detailed 3D layout model sequencing studies. The focus of this paper is project development, multi-discipline design considerations, and implementation results.

Jan 1, 2014

By N Steenkamp, L Furstenberg, W Cele, M Richter

Managing productivity and improving efficiency for a healthy return on capital employed have become key mining industry strategies under prevailing tough global market conditions. However, achieving this in a multisystem environment such as a mining operation can be daunting. The field of discrete event simulation offers some relief, giving engineering teams insight into multivariable systems and stochastic processes. It allows for integrated system thinking and domain expertise to be woven into project thinking fibre. Directed system optimisation and therefore improved efficiency becomes possible. Furthermore, capital discipline accrues from optimal upgrade investments. This paper illustrates the practical application of this approach by reviewing a typical case study for a direct shipping iron ore operation. Dynamic simulation was used to establish maximum processing plant capacity under varying material characteristics and identify capital-efficient upgrades for increasing production.The study started with descriptive statistical analysis of existing data. Discrete equipment and system capacities were defined, followed by static plant mass balance calculations to establish bottlenecks and overall static capacity. Equipment ‘uptime’ and ‘downtime’ analyses established system and overall plant availability and utilisation. From this information, a dynamic simulation model could then be developed and initially calibrated against actual plant performance to verify its robustness. Once confirmed to accurately represent existing plant dynamics, system capacity response to variable changes could be tested to ultimately determine maximum plant capacity. Additionally, plant optimisation was incorporated to arrive at optimal upgrade points. Maximum capacity and necessary upgrades were established as a function primarily of feed size distribution. Additionally, the interfacing effects of rehandling feed material to the final product grade and potentially to life-of-mine were established as important outcomes. The results of the study illustrate the value of using dynamic simulation models to realistically and cost-effectively increase throughput.CITATION:Cele, W, Furstenberg, L, Richter, M and Steenkamp, N, 2015. Capacity evaluation of iron ore processing facilities utilising dynamic simulations, in Proceedings Iron Ore 2015, pp 597–604 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By Howard A. Perko, Melinda J. Hummel

"Hydraulically jacked piles, herein referred to as jacked piles, are commonly used for underpinning existing structures to arrest settlement or augment an existing foundation for higher loads. They consist of steel pipe segments coupled together and jacked into the ground using a hydraulic ram. Pipe sections can vary in size from 3"" diameter to 18"" diameter or larger. Jacking resistance is typically provided by dead loads of existing structures. This type of piling system has been utilized for foundation underpinning, repair, and augmentation for more than 120 years, yet little has been published on the capacity, installation standards, and reliability of these systems. Pile load tests from a number of projects are presented and analysed. The data show that previous methods of jacked pile capacity and depth prediction are crude at best. Empirical relationships between capacity, depth, soil type, and standard penetration resistance blow count contain a high degree of scatter. Scatter in the data indicate capacity prediction for jacked piles needs further research and refinement.INTRODUCTIONPush pier, resistance pile, steel pier, and jacked pile are some of the names often applied to hydraulically jacked piles used for underpinning. The term ‘jacked pile’ is more common in building codes and will be used herein. Although jacked piles can be installed for new construction, this paper is focused on piles used for support of existing structures.Jacked piles consist of short segments of pipe or structural steel tube that are coupled together and forced into the ground using a hydraulic ram fastened to or beneath a footing, stem wall, or grade beam of an existing structure. In this way, the weight of the structure provides the resistance necessary to force the pile into the ground. A factor of safety can be achieved in design by redundancy, which is consecutively installing more than one jacked pile to support the same portion of foundation. Installing jacked piles consecutively using the same dead load and then releasing the load after each pile installation allows one to continue adding piles to the same general area until a total aggregate capacity is achieved to account for anticipated dead plus live loads and a desired factor of safety for that area.An engineering schematic of an example jacked pile connected to a footing foundation is shown in Figure 1. Modern jacked piles typically incorporate a steel bracket. There are many sizes and styles of brackets available. Some categories include plate brackets that bolt to the outside of an existing foundation wall, wide and narrow angle brackets that extend under existing footings, pin brackets for attachment to structural steel, and reverse angle brackets for attachment to footing and wall. Table 1 lists example brackets and their benefits."

Jan 1, 2017

By M Graham, R Brunning, C Andringa-Bate, S Westergren

In 2010, Rio Tinto Iron Ore’s operations commenced the planning and design of a sampling and analysis system for the new 50 Mt/a Cape Lambert Port B (CLB) facility. Current sampling systems at the ports consist of automated robotic, mass-based sampling protocols employed at Dampier, and semi-automated, time-based sampling systems operating at Cape Lambert Port A.The new sampling system at CLB has brought together a fully automated sampling and analysis system utilising time-based sampling, with the capacity to sample ore products of medium quality variation as defined in ISO 3082 (ISO, 2009). The CLB system is required to sample at shiploading rates from 6000 t/h to 13 440 t/h and provide full load-port analysis. The sampling approach is to proportionally extend primary increments (of varying mass relative to shiploading rate) to a standard length using variable speed aero-belt conveyor systems. This enables a fixed number of secondary cuts to be achieved for all primary increment masses and to be delivered to the automated cell. The cell is required to be capable of concurrently processing four individual shipments, each containing multiple cargoes.Achieving the target sampling precision for all export cargo sizes has culminated in the planning, design and construction of the largest automated iron ore port laboratory in the world. The CLB sampling and analysis cell was commissioned in Q3 and Q4 2013. This paper discusses the sampling philosophy and commissioning outcomes.CITATION:Brunning, R, Andringa-Bate, C, Graham, M and Westergren, S, 2014. Cape Lambert Port B shiploading, sampling and analysis, in Proceedings Sampling 2014 , pp 79–90 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 29, 2014

By S Russell

The completion of the $1.1 B Cape Lambert Upgrade project is the second ‘pillar’ in Rio Tinto Iron Ore’s expansion program that has enabled Rio Tinto Iron Ore to effectively double iron ore shipping capacity from the Pilbara between 2003 and 2009 to 220 million tonnes per annum (Mt/a), following the successful completion of the Dampier Port upgrade project two years earlier.The Cape Lambert Upgrade has built on and enhanced many of the engineering achievements of the Dampier Port upgrade project, as well as developing innovative and unique engineering solutions for this complex ‘brownfields’ project that presented its own challenges, particularly in this distinctive open-water port environment.The project was implemented in two phases to achieve an increase in port shipping capacity from 55 to 80 Mt/a – an enhancement phase and an expansion phase.The initial enhancement phase, which provided an increase to shipping capacity from 55 to 60 Mt/a, focused on increasing the utilisation and effi ciency of existing plant and equipment with a relatively small capital expenditure.The expansion phase, which provided the increase in shipping capacity to 80 Mt/a, included extending the existing iron ore wharf by 256 m to create four shipping berths, a new shiploader, an expanded stockyard (including a new fourth bucket wheel reclaimer) and a new surge bin facility to maximise outloading tonnage rates.The Cape Lambert Upgrade project was implemented whilst the port remained fully operational and continued to ship record tonnages of iron ore throughout the project duration. This achievement required signifi cant upfront planning and sequencing of construction activities to support the operation of the port. Innovative design and construction techniques were used to mitigate the impact and enable construction activities in and around the operating plant.Throughout the project, new benchmarks in engineering design and construction practices were established, which have since been adopted for new iron ore port facilities currently in planning phases.

Jul 11, 2011

By G. H. Lair, B. J. Langford, S. H. Rockwood

Volumetric reservoir analysis is dependent upon a firm relationship between porosity, connate water, and net pay. Capillary presswe data on core samples interrelate these three factors. It is shown that other reservoir problems may be resolved: (I) whether water production is indigenous or extraneous to the oil producing interval, (2) an oil-water contact is being approached, and (3) whether the oil-water contact is remotely situated. INTRODUCTION Volumetric analysis of carbonate reservoirs challenges the ingenuity of the reservoir engineer due to an absence of data on the minimum oil-bearing and oil-producing pores of a given reservoir rock. Many studies with this as the ultimate objective are available on the physical characteristics and fluid-flow behaviors of the carbonate reservoir. Some of these publications are: Hassler, Brunner and Deahl's1 study of the role of capillarity in oil production; Jan Law's' and A. C. Bulnes3 statistical treatment of core analysis data; Chalkley's method4,5 or estimating specific surface areas and porosity; Walter Rose's9 report on porosity, reserves, and recovery; Archie's78 tex-tural classification of carbonate rocks; Stewart and Spurlock's9 large core analysis; Purcell'sl0 mercury injection method in studying capillary pressure phenomena; Stewart, Craig, and Morse's" model multiple-phase flow test in investigating the relative permeability effect; and Fatt's12 illumi-nating network model of porous me-dia. The present study shows that the static reservoir parameters of porosity, connate water, and net productive thickness may be interrelated by utilizing a statistical arrangement of mercury capillary pressure data in addition to routine core analysis. This report summarizes the techniques that are followed to obtain these relations which are applicable to carbonate and sandstone reservoirs that do not contain clays. Capillary pressure statistical studies may be extended to include clay-bearing rocks by utilizing water capillary pressure data. POROSITY It is necessary that the laboratory determine the porosity value that includes the pores that are filled with hydrocarbons and water in the reservoir. This is the reservoir's total porosity. When true total porosity values are not available, correlations between porosity and capillary pressure characteristics lose their significance since they cannot be related through oil-base mud core data to the porosity and connate water values found in reservoirs. Methods used to obtain reliable porosity data will not be discussed; however, care should be exercised in selecting samples for measurement. In homogeneously porous formations, small core plugs sampled frequently will furnish adequate information. Where heterogeneity, particularly vugginess, is present, large-core porosity data may be required; in such reservoirs a suite of capillary pressure samples may be selected from small plugs. CAPILLARY PRESSURE Capillary pressure data provide a method for relating two carbonate reservoir parameters, porosity and connate water saturation, which in turn permit delineation of productive rock types necessary for selecting the third parameter, productive thickness. Specific applications of capillary pressure data to petroleum reservoirs were suggested by Archie8 and Pur-cell."' Their work demonstrated that in preferentially water-wet rock, porc

Jan 1, 1958

By Charles C. Templeton

Any explanation of the nature of multiphase fluid flow through porous media must ultimately involve a knowledge of the mechanism of such flow through the individual pores of the medium. To provide quantitative information of the latter type, a study was made of gas-liquid and liquid-liquid displacements in single uniform Pyrex capillaries with diameters as small as 4 microns. Quantitative observation of air-liquid displacements with zero contact. angle indicates the adequacy of a model based on Poiseuille's Law and the independence of capillary pressure and interfacial velocity. Consequently, this work discounts previous claims that flow is abnormally retarded in very small capillaries. For the displacement of a very viscous oil by water in a capillary initially filled with water, flow is faster than predicted by the above model. This behavior is probably due to the existence of a thin annular film of water between the oil column and the capi1lary wall as postulated by Yuster. INTRODUCTION The need for experimental observation of the microscopic nature of multiphase fluid flow, to further the understanding of the results of macroscopic flow investigations, has been previously recognized. Chatenever and Calhoun1 in connection with the API Project 47B have extensively studied the flow of fluids through layers of glass or lucite spheres between glass or lucite plates. Lowman2 prepared an interesting film concerning flow in a single capillary, using an apparatus which made a moving interface appear stationary in the field of a microscope. The purpose of the present investigation was to deter- mine what contribution might be made to this field by comprehensive quantitative observation of gas-liquid and liquid-liquid displacements in single capillaries of uniform, very small diameter. The techniques used are similar to those of Lowman but incorporate improvements necessary for quantitative work. Quantitative observations must begin with fluids of simple chemical composition to provide a basis for analyzing the more complex behavior that may be expected with natural reservoir fluids. However, some qualitative observations on systems involving crude oils are presented. Experiments of this sort involve the observation of the velocity of the interface separating two fluids, and have been performed in horizontal or vertical capillaries by several investigators.3,4,5,6,7,8 The most general treatment of their mechanics, by Brittin,9 involves forces due to capillarity, viscous resistance, gravity, an "end-drag" effect, and the rate of change of momentum of the capillary contents. Since the range of pore diameters of interest in petroleum reservoirs is about 0.1 to 100 microns, it was desired to perform these experiments in the smallest capillaries possible, to ascertain whether capillary diameter had any effect on the existing theory based on data from larger capillaries.* It was also important to be able more systematically to vary the direction and rate of displacement than was done by previous investigators. Finally, to concentrate attention on viscous and capillary forces by eliminating gravity as a parameter, this study involves only horizontal capillaries. The work of Eley and Pepper' with a "large" (0.766-mm diameter) horizontal capillary is the previous investigation which is most similar to the present method of quantitative observation. Here capillaries with diameters as small as 4 microns will be studied.

Jan 1, 1955

By Dr. O’Neil Thomas J., Donald W. Gentry

The greatest of all gifts is the power to estimate things at their true worth. LaRockefoucauld INTRODUCTION The primary reason for performing a feasibility study on a proposed mining venture is to investigate all phases of the proposal in as much detail as necessary to justify either dropping the project or continuing expenditures through the next stage. The economic evaluation component of the feasibility study, therefore, must ultimately be based on information which provides an answer to the question, "What is it going to cost?" Unfortunately engineers preparing feasibility studies never have all the engineering or economic information they would like or need. Consequently, the economic portion of the analysis can only be performed if estimates of the various costs associated with the project are made. Project cost estimates, in turn, require estimates of all the physical factors affecting cost components, including anticipated performance of plant and equipment as well as all pertinent geologic, mineralogic, and metallurgical variables. Before useful cost estimating procedures can be applied considerable data must be collected, compiled, and organized. Preparatory work typically includes organization of cost data available for estimating purposes, development of techniques for updating historical costs, and establishing methods of forecasting prices and costs over the duration of the project. Cost estimates for mining and mineral processing projects involve so many features and variables that it is absolutely essential to have some means by which the vast amount of detail can be organized. It is very important to identify, in as much detail as possible, all the cost data available (historical and developed) to the estimator. These costs, after being properly identified in detail, should be com- piled, stored, updated regularly, and made readily available for use in developing new cost estimates Accessing files of current cost information requires a standardized numerical system of classifying cost data. When uniform definitions and procedures are used, every project record contributes to the common store of estimating data.

Jan 1, 1984

By Daniel K. Dysinger

Capital resource budgeting is the way managers of publicly held companies fulfill their fiduciary responsibility to maximize the wealth of stockholders. Managers maximize shareholder wealth by allocating investment capital to the most productive of competing alternative projects. Managers do this in a manner that maximizes the net present value of the firm's future cash flow. The techniques of cash flow analysis are the primary tools available for selecting a corporate portfolio of projects that meets or exceeds the rate of return expected by shareholders. The reliability of cash flow analysis hinges on the ability of managers to forecast the future values of individual components of cash flow. The accuracy and reliabil¬ity of forecasting determine the soundness of capital investment decisions and, ultimately, determine the value of the firm.

Jan 1, 1997

By D. K. Dysinger

Capital resource budgeting is the means by which managers of publicly held companies fulfill their fiduciary responsibility to maximize the wealth of stockholders. Managers maximize shareholder wealth by allocating investment capital to the most productive of competing alternative projects in a manner that maximizes the net present value of the firm's future cash flow. The techniques of cash flow analysis are the primary tools available for selecting a corporate portfolio of projects that meets or exceeds the rate of return expected by shareholders. The reliability of cash flow analysis hinges on the ability of managers to forecast the future values of individual components. The accuracy and reliability of forecasting determine the soundness of capital investment decisions and, ultimately, determine the value of the firm. The present paper will explore tools for forecasting the spot market price of a commodity, silver, to demonstrate the difficulty and uncertainty involved in forecasting the future. The commodity price is only one of a number of components of the cash flow equation. Each component has a unique and uncertain future and must be individually analyzed and forecast to arrive at a robust cash flow model.

Jan 1, 1997

By R. J. Balfour, T. L. Papucciyan

"INTRODUCTIONCapital Cost considerations are basic to feasibility in the achievement of success for Mineral Processing Projects as much as or more than in many other industries. Capital cost is an important factor ae it 1R the unit of measurement for process engineering economic decisions. As a result of ever increasing complexity, alternatives of process and remoteness of site, there is an ever increasing emphasis on accurate estimating and the attendant cost control systems in the international market of today for the Mineral Industry where initial plant costs are becoming a more important factor than operating costs. An undervaluation means trouble ahead. An over-cautious assessment may bring an unnecessary abandonment of a project. Consequently, the ultimate cost must be predicted early and accurately and must be controlled to this parameter during the design and construction phases. Cost Est!~ mating is one of a variety of project management tools used to assist in planning and achieving the optimum balance between Quality, Cost and Time, the eternal triangle of evaluation, namely obtaining a project of acceptable quality at minimum cost and on time. In order to attain these established objectives, proper planning, organizing, coordinating, monitoring, adjusting and controlling the design, procurement and construction elements of the project are essential.This project management approach based upon the principle of a Task Force under single management, comprising a complete service organization, requires a substantial number of qualified individuals specialized in their own field and capable of working together as a team to perform their various functions effectively. The Task Force is supported by their chiefs of discipline and performs in accordance with established procedures and standards under the leadership of a Project Manager.General Engineering Company Limited with the backing of the full resources of Surveyer, Nenniger & Chenevert and its total staff of approximately 1,0009 offers the complete project management service to the Mineral Processing Industry of North America and the rest of the world. As mine sites become more remote and difficult of access, the need for an experienced team of specialists who work under the Task Force principle, with well established standards and procedures becomes even more important. Our long history of successful pro1ecta in this field has been our training ground for the fulfillment of this need."

Jan 1, 1972