Industry Glossary

Industry Glossary

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Term Definition
Nanotesla
The international unit for measuring magnetic flux density.
Native metal
A metal occurring in nature in pure form, uncombined with other elements.
Natural ventilation
Ventilation of a mine without the aid of fans or furnaces.
Net profit interest
A portion of the profit remaining after all charges, including taxes and bookkeeping charges, such as depreciation, have been deducted.
Net smelter return
A share of the net revenues generated from the sale of metal produced by a mine.
Net worth
The difference between total assets and total liabilities.
Nip
Device at the end of the trailing cable of a mining machine used for connecting the trailing cable to the trolley wire and ground.
Norite
A coarse-grained igneous rock that is host to copper/nickel deposits in the Sudbury area of Ontario.
Nugget
A small mass of precious metal, found free in nature.

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