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By Herbert D. Drechsler

Mining Finance is the interrelated aspects of "determining the total amount of funds to employ in a mining firm; allocating these funds efficiently to various assets; and, obtaining the best mix of financing in relation to the overall valuation of the firm." The first section is an overview of the financing problem through examination and discussion of the Balance Sheet and Income Statement. The next section is a discussion of the nature of the criteria developed in feasibility study. The third section describes type of capital funds, and the final section describes case studies of mining finance

Jan 1, 1985

By W. L. McMorris, A. H. Brisse

IN the last several years the coal industry has intensified its effort to solve the growing problem of cleaning and recovering fine mesh coals. On one hand there has been increasing civic pressure for cleaner streams, and on the other hand there has been increasing production of fine mesh coal, resulting directly from adoption of the modern mining methods so essential to the economy of the coal mining industry. Cleaning fine coal with the same precision possible with coarser coals is a difficult task, and for coals finer than 200 mesh it has been impractical. Furthermore, the inclusion of -200 mesh material in the final product markedly increases costs of dewatering and thermal drying, which are necessary steps if coal is to meet market requirements. Consequently these extreme fines have generally been wasted. As a result, problems have been created in many districts because there has not been enough area for adequate settling basins.

Jan 2, 1958

By Leo L. Van Sambeek

An understanding of the creep and yield behavior of salt is required for the rock mechanics design aspects of solution mining. Most previous studies of salt behavior have been performed on small specimens of salt under homogeneous stress conditions; i.e., uniaxial and triaxial tests on specimens <0.002 m3. The corejacking test is a larger scale test (-0.75 m3) with inhomogeneous stress conditions that provides data on the structural response of salt. Interpretation of the responses from eight such corejacking tests provides verification of the requisite constitutive parameters required to predict salt behavior at different levels of stress and temperature. These constitutive parameters are not those studied in the usual laboratory test. Corejacking test results show almost inseparable elastic and plastic closures simultaneous with the corejack pressurization. Very rapid closure (on a relative basis) continues for a period of time after the pressurization. This rapid closure is shown to be both continuing yield deformation and creep deformation. After the period of rapid closure, the closure rate approaches a constant value. Numerical modeling of the corejack tests using a creep law containing both transient and steady-state creep functions does not provide results that agree with the responses measured in the corejack tests. Using an experimental design technique plus additional numerical modeling that includes yielding of the salt, results in identification of the significant parameters which allow agreement. The significance of the results from the study is demonstrated by comparing the postulated stability and creep response of a solution-mined cavern using the previous understanding of salt behavior and the understanding developed from this study.

Jan 1, 1985

By Lauren A. Wright, A. E. J. Engel

Under the designations "industrial talc" and "soapstone" are included earth materials of widely different chemical and mineral compositions. Talc, the mineral, is a hydrous magnesium silicate, with a suggested theoretical formula H2Mg3(SiO3)4 or H2O.3MgO.4SiO2, which postulates 63.5 pct SiO2, 31.7 pct MgO, and 4.8 pct H20.18 Single grains or leaves of talc, however, seem to have variations in water content that range from 3.5 pct to more than 7 pct, as well as slight differences in the proportions of MgO and Si02.20 Most of the industrial talcs produced in the United States do not approach the composition given above (see Table 1), but are essen- [ ]

Jan 1, 1960

By D. W. Jessup

ONLY during the past few years, have the old-fashioned methods for treating ores and byproducts progressed to any marked degree. The advent of multiple-hearth roasting, blast roasting, the baghouse, and the Cottrell plant indicate this change. It is the ability to roast and smelt sulfide ores and concentrates that gave this later advance. Further investigations that will solve the problem of efficient handling of flotation concentrates and their attendant ills are of the utmost importance. With future developments, the metallurgist will be able to smelt more economically and to treat still more refractory ores, making the early methods appear small by comparison. GROWTH OF SMELTING Well within the memory of pioneer smeltermen, the ore was charged directly into the blast furnace as it came from the mine;, only the richer, ores were smelted, the lower grade and sulfide ores were undesirable. Matte was, at first, thrown away and only two products) were desired-slag and lead bullion. Scores of the early smelting companies failed because of improper reduction of ores, high costs, short- furnace campaigns, inability to treat sulfide ores, and ores containing-zinc. With the failure of weaker companies, consolidation eliminated many others, until today the field is dominated by a comparatively few organizations, each strong financially. Formerly, a few thousand dollars would erect a small plant, whereas the modern smelter costs over a million dollars. Ore and products to which formerly no attention was paid are now treated with comparative ease and at a good profit. Mechanical improvements have modernized smelting, furnace tonnages show an increase, and metal recoveries have made enormous strides. Even though costs have decreased, they have not dropped in proportion to the improvements, because of the higher wages, greater costs of fluxes and coke, more undesirable ores smelted, etc.

Jan 8, 1925

Jan 6, 1950

Jan 1, 1879

By J. R. Ross, J. B. Rosenbaum

Bureau of Mines research has resulted in the development of fluid- bed ion-exchange columns for recovering uranium from slime pulps. In pilot plant tests, slime slurries containing up to 6 percent solids were processed at flow rates of 10 gallons per square foot per minute with high uranium recoveries and efficient resin loadings. Uranium was effectively eluted in a laboratory fluid-bed elution column at eluate-to-resin ratios of less than 5:1 and eluate flow rates of 3 gallons per square foot per minute. Construction costs of mills using these improved ion exchange techniques are estimated to be 25 percent less than for mills using solvent extraction of clear solutions. For mills having a capacity of 2,000 to 2,500 tons of ore per day, the saving would be in the range of $2.5 million. In addition, a saving of about $0.80 per ton of ore in total operating costs is indicated.

Jan 1, 1973

By D. J. Dunn, J. L. Huiatt, T. E. Norman

Corrosion studies in laboratory ball mills and grinding environment simulations produce corrision rates and total metal removal rates much lower than those recorded in operating production ball mills. The corrosion component of ball metal loss in many mills probably represents less than 10% of the total loss, judging from AMAX experience and recent US Bureau of Mines (USBM) tests. Such small absolute losses are consistent with ball metal loss measured in production ball mill marked ball wear tests to determine effects of corrosion and abrasion resisting properties of alloys in operating mills. These indicate that metal hardness and microstructure determine relative metal loss rates of a given situation. The combination of ore characteristics and grinding process dynamics determine metal loss severity. Alloying for corrosion resistance and modification of the milling corrosion environment yield relatively small metal loss reductions. Alloying and heat treatment to produce high hardness and microstructures of high carbon martensite and, for cast irons M7C3 carbides, produces the lowest metal losses in typical wet grinding applications.

Jan 1, 1986

By J. M. Toguri, H. Flood

The application of the mass action law to the thermodynamic treatment of metal-slag equilibria is discussed. The consideration of the reactions essentially as ionic exchange equilibria is shown to be both an advantage and an aid for the elucidation of the theoretical treatment. This is illustrated by several examples. In general two different methods of application of the mass action law to metal-slag equilibria have been used by different groups of investigators. These could be called the oxide reaction and the ionic reaction approach respectively. At the recent discussion in the metallurgical section of the I.U.P.A.C. Congress in Montreal, 1961,&apos; divergent opinions prevailed regarding the most rational way of applying the mass action law to metal-slag equilibria. This question is of fundamental importance in the treatment and understanding of theoretical chemical metallurgy. Consequently, the following is an attempt to contribute towards its clarification. As an example, the distribution of iron and manganese between molten iron and slag will be considered. I) THE OXIDE EXCHANGE REACTION APPROACH The equilibrium between iron and manganese between molten iron and slag is frequently formulated as an oxide metal exchange reaction as follows:

Jan 1, 1963

Jan 1, 1920

By Waldemar Dyrssen

BEFORE discussing the relation between air pre-heaters and waste-heat boilers in conjunction with the open-hearth furnace, it is necessary to have a clear idea about what a preheater can accomplish and what effect it has on the open-hearth furnace, especially from a thermal point of view. It is generally recognized now that the heating of the combustion air in the checker chambers of the open-hearth furnaces is not as efficient as it is-desirable to make it. It is also generally recognized that heating of the air in checker chambers of ordinary construction has its limitations. These limitations are mostly the .space occupied and the cost that would be involved if checker chambers were made larger than according to present practice. There are, however, other. reasons why checker chambers cannot give the highest possible air temperatures. Checker chambers are capable of heating air to very &apos;high temperatures by using waste gases of extremely high temperatures and, in fact, higher temperatures can be reached with checker chambers than with any other means available. The temperature to which we can heat, air, however, is limited very materially by -the temperature at which the air enters the checkers, be-cause of the fact that checker chambers, as at present constructed, are not efficient in heating air through a wide range of temperatures. In other words, if air in-stead of entering the checker chambers at atmospheric temperatures could enter at about 1000 to 1200 deg. F., the resultant air temperature at the top of the checker chambers would be materially increased. There are now on the market metallic air preheaters which are ex-tremely efficient for preheating air to about 1200 deg. F. Such heaters occupy very little space and can usually be installed at a relatively low cost.

Jan 1, 1928

By Walter Snelling

IN the course of some experiments more than five years ago, made for a totally different purpose than the investigation of the oil used, I placed a small quantity of a transparent yellow lubricating oil in a bomb-like vessel and heated it to a relatively high temperature. At the end of the experiment I removed the oil from the vessel and was amazed to find that instead of bearing any resemblance to the oil which I had put in, it now had the appearance of ordinary crude oil. The green color by reflected light and the rich red-brown by transmitted light were so unmistakable as to at once lead to further investigation. I subjected the material to fractional distillation, and the surprise which I &apos;experienced at the appearance of the oil, changed to amazement when I found that it yielded, on distillation, 15 per cent. of gasoline and 30 per cent. of burning oil, and that its constitution resembled crude oil quite as much as did its appearance. Furthermore, the gasoline and kerosene distillates which it yielded were of a clear water-white color, entirely without treatment with acid or alkali, and were entirely free from the odor familiar in "cracked" petroleum distillates. The result of this experiment was quite too remarkable to be credited without further confirmation, and I at once filled the vessel with some of the same oil that I had used before, and again heated to about the same temperature that I had previously used, and for the same period of time. Upon opening the vessel and removing the contents I found, not the material resembling crude oil that I had obtained before, but apparently only the same oil that I had put in, somewhat darkened in color, but nevertheless far different in appearance from the material obtained in the previous experiment.

Jan 4, 1915

By H. W. Morse

INTRODUCTION THE experimental work on the oxidized copper ore at the New Cornelia mine at Ajo, Ariz., ended on Jan. 12, 1916. On that date final decision was made on the general nature of the process to be used in the 5,000-ton leaching plant, and on many of the details, as far as experience on a40-ton scale could decide them. With the approval of the Board of Directors and the General Manager, John C. Greenway, we have compiled what seem to be the most interesting data on the results obtained during the experimental period. The most important part of the data resulted from the operation of a 1-ton and a 40-ton plant at Ajo. Experimental work on Cornelia oxidized ore dates back to April, 1912, and has been going on nearly continuously since that time. A good many variations from the original idea have been tried, but the process finally decided upon is in principle and in all of its details a simple one. The history of the leaching work on this ore has been brought down to about a year ago in papers presented to this Institute by Stuart Croasdale1 and Dr. L. D. Ricketts.2 The present paper will, therefore, deal principally with the results obtained during the last year of the work.

Jan 9, 1916

By G. S. Brooks

The tendency of the oxides of such metals as aluminum, zinc, chromium, and calcium to form compounds at high tempera tures with iron oxide is well established by past investigation. Data of this reaction, as developed in laboratory research, have been contributed by Burleigh, Hofman, and Wells, in America, and by many others abroad. A partial bibliography of the subject is appended. From these authorities we learn that the ferric oxide here has the function of an acid, giving in the case of ZnO a zinc ferrite, with a normal composition of ZnOFe2O3 This formation of zinc ferrite particularly affects the success of such processes as leaching or magnetic separation, and thus becomes practically important to the metallurgist. But the meager existing data do not entirely agree; and quantitative results from muffle-practice are conspicuously absent. Furthermore, it being of some general importance to the zinc smelter in both roasting and reduction, the following few notes of operations oil a commercial scale are contributed: I. Physical Properties of Zinc Ferrite. As formed for the most part synthetically by investigators, zinc ferrite exhibits characteristic physical properties, such as octahedral crystals, dark color, and a density over 5, together with a slight magnetic attractability. In examining with the microscope many products of mechanical muffle-roasting kilns, it is, however, impossible to find individual grains which can be identified as consisting entirely of zinc ferrite. The variety of colors, especially where each grain of blende was mechanically free from marcasite, rather conveys the impression of a partial ferritization of the grain. One side or end, for example, may often have the hard, dense surface and dark red to black color of the ferrite, while the balance shows the usual light yellowish brown of a normal iron-free blende.

Jan 1, 1914

By Robert H. Leach

SILVER the whitest of all metals, has been used for thousands of years. Students of antiquity agree that silver, gold, copper, and their alloys were the first metals discovered by man and they have all played an important part throughout the advance of civilization. Native silver has been found in different parts of the world in varying form and size, such as clusters of fine wires in rock cavities, thin sheets along cleavage planes in veins of rocks, and pieces of irregular shape that vary in size from extremely small particles to masses weighing many pounds. Nearly pure silver is found in, the native state but the native metal is more likely to contain copper or gold. Some of the natural alloys closely approximate the compositions of synthetic alloys that are used in the arts at the present time. As these native silver alloys usually are malleable and ductile, it is evident that prehistoric man was provided by nature with metals that he could work, with the crude tools at his command, into simple ornaments or other articles. The relative scarcity of silver combined with its resistance to attack under ordinary atmospheric conditions have been important factors in determining the purposes for which man has used it. Its scarcity and indestructible character have made its possession particularly desirable, and from the earliest times its principal use has been as a measure of wealth and a medium of exchange. The comparatively high value of silver in relation to other commodities makes it possible to transport a large amount of wealth in small bulk, and silver has traveled back and forth over all parts of the world. Even when made into ornamental pieces, such as bracelets,

Jan 1, 1953

By J. P. Carson

(Read at the Wilkes-Barre Meeting, May, 1877.) THE works of the Tula Iron Company are in the Republic of Mexico, State of Jalisco, twenty-eight leagues southwest of Guadal¬ajara, ten leagues northwest of the town of Sayula, through which passes the projected line of the Mexican National Railroad. Its geographical position would be about: latitude, 20° 10&apos; N., longi¬tude, 4° 35&apos; W. of Mexico City. The surrounding country is a roll¬ing plateau, 6000 feet above the sea, enjoying the most magnificent climate in the world, the average temperature being about 70°. The works were commenced in 1850 by a company with very small capital, having not the least idea of the undertaking. They soon fell into the hands of the money-lenders, and after changing

Jan 1, 1878

By F. H. Newell

In 1888 the United States Geological Survey began a systematic examination of the water-resources of the West, comparable in character and scope to the study of the deposits of ores or coal. As experience was acquired, the surveys were extended to the East, until now they embrace representative localities in all parts of the United States. The object to be attained is to note and record the distribution of water-supply, and to learn, as far as practicable, the laws governing its fluctuations.

Jan 1, 1901

By D. A. Hinckfuss

The large and compact but simple Bougainville Copper Limited flotation circuit has been in operation for 3-1/2 years. Discussion of problem areas encountered since start-up and remedies that have been implemented or proposed, form the main basis of this paper. Full current operational data is also provided.

Jan 1, 1976

By Patrick M. Hurley

The relationships between mineral deposits and various plate margin mechanisms are examined under the constraints of radiogenic isotopes and other geochemical indicators. It seems like1 y that: (1) deposits of the spreading ridge association are fairly ubiquitious through most of geologic history and can be recognized by the lithologic assemblage and primitive lead isotope ratios; (2) most metals in the island arc association are not derived entirely from a subducting oceanic plate, and have a partly continental affinity; (3) subduction beneath a continental plate generates ores which are derived either from the downgoing plate or from the lower crust; (4) the heating of a continental plate by thickening or by mantle plumes may develop a metallogenic province involving extraction of metals from the curst; (5) rifts and grabens developing thick sections of marine sediments with evaporites may be the locus of base metal mineralization by movement of reducing brine solutions resulting from diagenesis and bacterial reduction of sulfates

Jan 1, 1978