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Where the miner had a group profit of less than $125 million, a low profit offset was available so that: MRRT liability was nil where the group mining profit was less than $75 million [ 26 ] where the group mining profit was between $75 million and $125 million, a special calculation was used for determining the miner's liability, allocating ...
Net Smelter Return (NSR) is the net revenue that the owner of a mining property receives from the sale of the mine's metal/non metal products less transportation and refining costs. As a royalty it refers to the fraction of net smelter return that a mine operator is obligated to pay the owner of the royalty agreement. The royalty is paid in ...
The miner's inch is a method of measuring the amount of flow a particular water supply system (such as a flume or sluice) is capable of supplying. The miner ’s inch measures the amount of water that would flow through a slot of a given area at a given pressure (for example, at a head of 6 inches of water , or 1.5 kPa .)
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In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof ...
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Open-pit mining, also known as open-cast or open-cut mining and in larger contexts mega-mining, [1] is a surface mining technique that extracts rock or minerals from the earth. Open-pit mines are used when deposits of commercially useful ore or rocks are found near the surface where the overburden is relatively thin. In contrast, deeper mineral ...