Global Commodity Glossary
- Acid leaching
- Leaching with (solutions of) acids as reagents.
- ADR
- American Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bank
- Agglomeration
- A method for forming relatively large porous blocks (sinters) by sintering (roasting) fine or powder ore, where solid particles are joined together by solidifying fusible compounds.
- Anode
- Crude metal (nickel or copper) obtained from anode smelting and fed for electrolytic refining (electrolysis) whereby it is dissolved.
- ARM
- African Rainbow Minerals
- Alkali
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- Aluminum oxides and hydroxides
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- Anion
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- Atom
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- AUD
- Australian dollar
- Boiling Point
- The temperature at which the vapor pressure of a liquid is equal to the pressure of the atmosphere on the liquid, equal to 100°C (212°F) for water at sea level.
- Blasting
- Detonation of explosives in natural rock formations with the purpose of controlled destruction and removal or changing their structure and form.
- BWP
- Botswana pula
- Bauxite
- An amorphous clayey rock that is the chief commercial ore of aluminum. It consists largely of hydrated alumina with variable proportions of iron oxides and impurities.
- Cake
- Solid residue from slurry filtering during leaching of ores, concentrates or metallurgical intermediates, and purification of process solutions.
- Cation
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- Cathode
- Pure metal (nickel or copper) obtained as a result of electrolytic refining of anodes.
- Charge
- A mixture of materials in certain proportions needed to achieve the required chemical composition of the end product. The charge may include ores, ore concentrates, sinter cake, return slag, dust from dust collectors, and metals (mostly in the form of scrap).
- Chemistry
- The science that deals with the composition & properties of substances & various elementary forms of matter.
- CHOP
- Private Security Company
- Company
- Limited Liability Company, “Mining & Metallurgical Company ‘Sum Element'”
- Concentrate
- A product of ore concentration with a high grade of the extracted mineral, which gives its name to the concentrate (copper, nickel, etc.).
- Concentration
- Artificial improvement of metallurgical feedstock mineral grades by removing a major portion of waste rock not containing any valuable minerals.
- Concentrator area
- A part of a PGM concentrator.
- Converter matte
- A metallurgical intermediate produced as a result of matte conversion. Depending on the chemical composition, converter matte may be copper, nickel and copper-nickel matte.
- Converting
- An autogenous pyrometallurgical process where ferrous and other detrimental impurities are oxidised and removed as slag to produce blister copper (in copper concentrate smelting) or converter matte (in copper-nickel concentrate smelting).
- CRU
- Commodities Research Unit; a specialist research and consultancy company for the metal market
- Cupriferous ores
- Ores containing 20% to 70% sulphides, with the following metal grades: 0.2–2.5% for nickel, 1.0–15.0% for copper, and 5–50 g/t for platinum group metals.
- CUSIP
- Committee on Uniform Securities Identification Procedures; an identification code assigned to securities issued in the US and Canada
- Deposit stripping
- Creation of permanent mine workings providing access to the entire mineral deposit or its part from the surface and enabling preparatory mining works.
- Dilution
- Contamination of a mineral resource with non-commercial grades and host rock, which leads to a lower content of a useful component in the mined material as compared to its original content. Dilution results in higher mining and transportation costs, as well as poorer operational and economic performance of concentrators. The level of dilution depends on the mode of occurrence, equipment used, development and mining methods. For ore deposits with favourable geological conditions, dilution may be up to 10%, and go up to 35–40% for complex rock bedding.
- Disseminated ores
- Ores containing 5% to 30% sulphides, with the following metal grades: 0.2–1.5% for nickel, 0.3–2% for copper, and 2–10 g/t for platinum group metals.
- DMS
- Dense Media Separation; a heavy-medium separation technology
- Drying
- Removal of moisture from concentrates performed in designated drying furnaces (to a moisture level below 9%).
- Earth
- the third planet, in order from the sun, having an equatorial diameter of 12,755 kilometres (7926 mi.) & a polar diameter of 12,714 km (900 mi.), a mean distance from the sun of 149.6 million km (92.9 million mi.), & a revolution period of 365.26 days, & having one natural satellite, the moon.
- Ecosystem
- A system, or a group of interconnected elements, formed by the interaction of a community of organisms with their environment.
- Electrolysis
- Electrochemical oxidation/reduction processes in electrolyte-immersed electrodes driven by electric current from external sources.
- Element
- (Chemistry Context) one of a class of substances that cannot be separated into simpler substances by chemical means.
- ESPC
- Enriched Stored Pyrrhotite Concentrate
- Factory
- A building or group of buildings with facilities for the manufacture of goods.
- FCSM
- Federal Commission for the Securities Market
- FFMS
- Federal Financial Markets Service
- Filtration
- The process of reducing the moisture level of the concentrate by forcing liquid or gas through a porous medium.
- Flash smelter
- An autogenous smelter for processing dry concentrates, where the smelted substance is finely ground feedstock mixed with a gaseous oxidiser (air, oxygen), which holds molten metal particles suspended. The heat from oxidation reactions is actively used in the process.
- Flotation
- A concentration process where specific mineral particles suspended within the slurry attach to air bubbles. Poorly wettable mineral particles attach to the air bubbles and rise through the suspension to the top of the slurry, producing foam, while well wettable mineral particles do not attach to the bubbles and remain in the slurry. This is how the minerals are separated.
- Gas condensate
- A mixture of hydrocarbon liquids separated from raw natural gas.
- GFMS
- Gold Fields Mineral Services; a specialist research and consultancy company for the metal market
- Gold
- a precious yellow metallic element, highly malleable & ductile, & not subject to oxidation or corrosion. Symbol: Au; atomic weight: 196.967; atomic number: 79; specific gravity: 19.3 at 20°C.
- Group
- Private Limited Liability Company “Mining and Metallurgical Company, ‘Sum Element’” and it’s subsidiaries
- Heap leaching
- The monovalent anion OH− consists of a compound of one atom of hydrogen and one atom of oxygen. a compound of a metal with the ion OH− (as in many alkalis) or the group OH− (the hydroxyl group).
- Hydroxide
- Leaching where ore stacked (heaped) over a specially prepared natural or artificial leach pad with an impermeable foundation is irrigated with reagent solution.
- Hydroxide Metal
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- IFRS
- International Financial Reporting Standards
- IISI
- International Iron and Steel Institute
- Indicated mineral resources
- Resources representing that part of mineral resources for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity, but are spaced closely enough for continuity to be assumed.
- Industrial Installation
- A system of equipment intended for use in the manufacture or processing of products involving systematic labor or habitual employment & includes machinery or apparatus placed in position or connected for use in which agricultural or other commercial items are habitually or customarily processed.
- Inferred mineral resources
- That part of mineral resources for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes, which is limited or of uncertain quality and reliability.
- Inorganic substance
- Inorganic substances are a group of chemicals that contain no carbon or lack carbon-hydrogen bonds: that is, compounds which are not organic compounds. Examples include: ammonia, hydrogen sulfide, all metals, & most elements (such as calcium). However, the distinction is not clearly defined & agreed upon, & scientific authorities have differing views on the subject.
- IOBU
- International Order Book Unlisted; a London Stock Exchange platform for trading the most liquid international securities
- Ion
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- ISIN
- International Securities Identification Number;
12-character alpha-numerical code that uniquely identifies a specific security and is allocated by national numbering agencies - ISO
- International Organisation for Standardisation
- JORC Code
- An Australasian code developed by the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Mineral Council of Australia for reporting ore and metal reserves
- Leaching
- Selective dissolution of one or several components of the processed solid material in organic solvents or water solutions of inorganic substances.
- Level
- All workings located at a specific level and designated for mining.
- Matte
- Intermediate product in the form of an alloy of iron sulphides and non-ferrous metals with a varying chemical composition. Matte is the main product in which precious and auxiliary metals accumulate.
- Measured mineral resources
- That part of mineral resources for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and/or grade continuity.
- Melting Point
- The temperature at which a solid substance melts or fuses.
- Metal
- Any of a class of elementary substances, as gold, silver, or copper, all of which are crystalline when solid and many of which are characterized by opacity, ductility, conductivity, & a unique luster when freshly fractured. (Chemistry Contexts) a.) such a substance in its pure state, as distinguished from alloys. b.) an element yielding positively charged ions in aqueous solutions of its salts.
- Metal grade
- The ratio between the weight of metal in the dry material and the total dry weight of the material expressed as a percentage or grammes per tonne (g/t).
- Metal recovery
- The ratio between the quantity of a component extracted from the source material and its quantity in the source material (as a percentage or a fraction).
- Mine
- A mining location for the extraction of ores.
- Mine workings
- The general term for parts of a mine or a quarry that have been excavated during mining.
- Mineral deposit
- A mass of naturally occurring mineral material (near to the surface or deeper underground) which is economically valuable in terms of quantity, quality and conditions.
- Mineral
- Any of a class of substances occurring in nature; usually comprising inorganic substances, as quartz, feldspar, or ammonia (& elements, such as calcium), of definite chemical composition & usually of definite crystal structure, but sometimes also including rocks formed by these substances, as well as certain natural products of organic origin, as asphalt or coal. A substance obtained by mining, such as an ore, is also a mineral.
- Mineral resources
- A concentration or occurrence of material of intrinsic economic interest in or on the earth’s crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction.
- Mining
- The industry, process, or act of extracting ores, coal, or other minerals from mines.
- MMC
- Mining and Metallurgical Company
- MSA
- Matte Separation Area
- Nickel
- A hard, silvery-white, ductile and malleable metallic element, allied to iron and cobalt, not readily oxidized: used chiefly in alloys, in electroplating, and as a catalyst in organic synthesis. Symbol: Ni; atomic weight: 58.71; atomic number: 28; specific gravity: 8.9 at 20°C.
- Open-pit mining
- The process of extracting minerals from the surface of the earth by their removal from an open pit.
- Ore
- A metal-bearing mineral, rock, native metal, or natural product that can be mined
- Ore body
- Natural occurrence of ores associated with certain structural and geological element or a combination of such elements.
- Ore reserves
- The economically mineable part of measured or indicated mineral resources, including possible dilution and losses during mining operations.
- OTC MARKET
- Over-The-Counter Market (US)
- Oxide
- A chemical compounds in which oxygen is combined with another element.
- PGM
- Platinum group metals taken as a whole or in any combination of platinum, palladium, rhodium, ruthenium, osmium and iridium
- Periodic Table of the Elements
- A set of facts & figures systematically displayed in columns, illustrating the periodic system, in which the chemical elements, formerly arranged in the order of their atomic weights, according to their atomic numbers, are shown in related groups.
- Probable ore reserves
- The economically mineable part of indicated and, in some circumstances, measured mineral resources, including possible dilution and losses during mining operations.
- Proved ore reserves
- The economically mineable part of measured mineral resources, including possible dilution and losses during mining operations.
- Pyrometallurgical processes
- Metallurgical processes performed at high temperatures, including roasting, smelting and converting distinguished depending on their technological characteristics.
- Refinery
- An industrial installation where a substance is refined by bringing to a fine or a pure state; freeing from impurities.
- Refining
- The process of extracting high-purity precious metals through their separation and removal of impurities.
- Rich ores, high-grade ores
- Ores with high sulphide content (over 70%) and the following metal grades: 2–5% for nickel, 2–25% for copper, and 5–100 g/t for platinum group metals.
- Roasting
- The process of removing volatile components from and changing the chemical composition of materials (ores, concentrates, etc.) at elevated temperatures enabling various gas-solid reactions, but insufficient to cause melting of the material’s solid compounds.
- SEC
- Securities and Exchange Commission (US)
- SEDOL
- Stock Exchange Daily Official List;
seven-character alpha-numerical identification code assigned to all securities that trade in the UK’s organised securities markets - Sinter, sinter cake
- Sintered ore produced as a result of the agglomeration process.
- Skip
- An automatically unloading box, which is part of the skip hoist system. It travels along the guide rails to haul minerals or rock along vertical and reclining shafts, or lift ore charge.
- Slag
- Melted or solid substance with a varying composition that covers the surface of a liquid product during metallurgical processes (resulting from charge melting, melted intermediate processing and metal refining) and includes waste rock, fluxes, fuel ash, metal sulphides and oxides, and products of interaction between the processed materials and lining of melting units.
- Slime
- Powder product containing precious metals precipitating in the course of copper and other metals electrolysis.
- Slurry
- A mixture of finely ground mineral with water or a water solution.
- Smelting
- A pyrometallurgical process performed at high temperatures enabling the complete melting down of the processed material.
- SPC
- Stored Pyrrhotite Concentrate
- Suction system
- A mechanical device for removing (extracting) pollutant emissions and gases from workplaces and getting air or gas samples to analyse their composition and dust content.
- Sulphides
- Compounds of metals and sulphur.
- Sum
- The aggregate of two or more numbers, magnitudes, details, items or quantities as determined by or as if by the mathematical process of addition
- Sum Element
- Limited Liability Company, “Mining & Metallurgical Company ‘Sum Element'” & its subsidiaries
- Tailing dump
- A complex of hydraulic structures used to receive and store mineral waste / waste tailings.
- TGK
- Territorial Generating Company
- Thickening
- Separation of liquid (water) and solid particles in dispersion systems (slurry, suspension, colloid) based on natural gravity settling of solid particles in settlers and thickeners, or centrifugal settling of solid particles in hydrocyclones.
- Underground (subsurface) mining
- A set of stripping, preparatory and stopping operations.
- Valence
- The combining power of an element, especially as measured by the number of hydrogen atoms it can displace or combine with.
- Vanyukov’s furnace
- An autogenous smelter for processing concentrates, where smelting is performed in a bath of slag and matte, with intensive injection of air-oxygen mixture. The heat from oxidation reactions is actively used in the process.
- Waste heat boiler
- A steam boiler without a furnace that uses heat of flue gases from metallurgical processes, industrial furnaces, power plants or combustion engines.
- Waste tailings
- Waste materials left over after concentration and containing mostly waste rock with a minor amount of valuable minerals.
- WBMS
- World Bureau of Metal Statistics
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