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By D. Vavadakis

Abandoned bauxite surface mines in the Parnassos area may be rehabilitated using bauxite residues as filler. The objective of this study was to estimate the percentage of precipitation that may infiltrate through the bauxite residues to the lower geological formations when they are disposed off in mine open pits. Two scenarios were investigated simulating: a) available field tests, and b) a demonstration test that was planned to be performed in an abandoned open pit close to the Aluminium of Greece plant. It was indicated that the annual infiltration from bauxite residues disposed off in the demonstration test for the most probable scenario is very low, equal to 13.17mm corresponding to 3.1% of the annual precipitation. Furthermore, it was estimated that the annual percolation from the field tests is approximately 4.4%, very close to the infiltration values measured in the field tests for the same period.

Jan 1, 2006

By B. Das, B. K. Mohapatra, K. S. Narasimhan, S. K. Bhaumik

The iron ore slimes (d80 ~ 50 µm) generated at Noamundi iron ore washing plant (TISCO), assaying 57% Fe, 4% Si02 and 8.3% A1203, have been subjected to hydrocyclone studies. The effects of different design and operating parameters have been studied to get a product suitable for subsequent use in the sinter mix. The studies indicate that it is possible to obtain a product containing 64% Fe, 1.4% Si02 and 3.5% A1203 with a recovery of 49% iron. The process involves classification followed by separation in a hydrocyclone. By this method, the overall yield of iron ore production in the plant is expected to increase by 8%. Microscopic examinations and X-ray diffraction studies were conducted to elucidate the mineralogy and liberation characteristics of Noamundi iron ore slimes. This paper deals with the findings of the investigations.

Jan 1, 1993

By Ronald I. Fuller

Core Laboratories, a division of Western Atlas International, maintains laboratories in all energy-producing areas of the United States, as well as in many foreign countries. Central to laboratory operations has been the incorporation of computers and computer software. Core has developed a mu1tiuser Laboratory Information Management System (LIMS) , which is currently installed in numerous company sites in the U.S., and is now undergoing installation in Canada. In addition, Core has provided custom soft ware to contract laboratories which Core operates on behalf of mining firms. The software development was done under the direction of the author in Denver, Colorado, and Casper, Wyoming. The intent of this paper is to pass some of the practical experience gained by our efforts on to those who wish to utilize computers more fully in the laboratory setting. The product of analytical laboratories is numbers. Nothing else comes from our work. We deal in information about samples. It is then reasonable to assume that the computer would be central to a laboratory operation. The hard part is to initially define what kind of computer the lab operation needs. The choices today can be very complex, and almost every hardware salesman is full of bad advice. Even the people in your own information services department may hold divided opinions. Since the advent of the personal computer, we have lived with a polarized data processing community. The PC boys consider their machines equal to any challenge, while the "save the mainframe" crowd view the PCs as limited toys that are only good for the things that clutter up a real computer. Management tends to lean toward whatever costs the least.

Jan 1, 1989

By W. N. Key, L. C. Acton

Freeport Minerals Co.'s Ertsberg East underground operation typifies the cliche that all the "easy" ore deposits have already been found. Despite its location, in a remote Indonesian rain forest, and the effort and expense required to develop the ore body, the mine was developed on schedule, under budget, and with minimal disruption of the adjacent open-pit mining operation. Development of the Ertsberg East copper, gold, and silver ore body took less than two years after exploration drilling and feasibility studies were completed. In addition, the project came in well under its targeted budget of $101.5 million. Initial block caving and underground ore production took place last year. About 3 kt/d of Ertsberg's total 8.6 kt/d ore production is currently mined underground. This will increase to 5.4 kt/d by year's end. Underground operations will eventually account for all of Ertsberg's production, as the open-pit ore body is depleted. Freeport Minerals is currently studying the possibility of increasing total Ertsberg East production tonnage to 10.5 kt/d by 1983. The equipment, work practices, and development methods at Ertsberg East (Gunung Bijih Timur or "GBT"), while typical of other block caving mines, were modified for rapid mine development and maximum ore recovery. Located in the Irian Jaya province, "Gunung Bijih" is the Indonesian expression for the Dutch "Ertsberg" that in English means "ore mountain." "Timur" means "east" and relates to the fact that the new underground ore body lies about 1 km east of the open pit. The area surrounding GBT is mountainous, with peaks from 4.2-5 km. The underground mine adit and surface plant are located at a 3.6-km elevation. The mine, 4° south of the equator, gets 5.1 m/a of rain, but has an average daily temperature of only 13°C because of the mine's elevation.

Jan 7, 1981

The objective of this paper is, firstly, to summarize several field developments utilizing the art of hydraulic fracturing as it has been extended into various mining applications. Secondly, to summarize the understanding of the hydraulic fracturing processes; and lastly to discuss researchable areas and possible future applications. Hydraulic fracturing was developed as a method of stimulating production of oil from oil producing formations. The primary paper by Clark (1) in 1949, describes the process of placing a hydrostatic pressure of sufficient strength on the producing formation of an oil well that the rock apparently cracked, and then, on allowing the well to flow back, a higher rate of recovery of oil was enjoyed. The interpretation of the process mechanism was that the formation rock was cracked to a considerable distance from the well bore, increasing the drainage area; thus, the productivity of the well was measurably improved. Figure 1 is illustrative of this process. This development was of major significance to the oil producing community and considerable research and development ensued. Improvements in method, engineering development of equipment, and research to ascertain the optimum application of fracturing practice led to a highly sophisticated, but specialized technology. The Production Research Division, Continental Oil Company, vigorously pursued research in this area in the 1950's with a resulting number of process improve¬ments. The research group, published a significant number of technical papers on these various researches. One of the developments was the process aimed at controlled orientation of the fractures, either in the vertical (2) or horizontal (3) orientation.

Jan 1, 1969

By Hugh E. Cronin, Joseph J. Coluccio

The Columbia Slough Consolidation Conduit Project is a 12 ft. 0 in. inside diameter—15 ft. 4 in. excavated diameter tunnel, 8,300 lf. in length. The tunnel is divided in two parts a 4,460 lf. reach to the West and a 3,770 lf. reach to the East separated by a flow regulation structure in the middle. The project was built for the City of Portland, Oregon Bureau of Environmental Services (BES) by the Frank Coluccio Construction Company (FCCC) Seattle, Washington under a $22,600,000.00 contract starting in 1998 and completing the contract in 2000 at a total cost to the City of $25,448,000. An increase of 12.6% from the original contract. The tunnel was constructed in an alluvial sediment that ranges up to 1,500 feet thick. The sediment varies from ?ne silty sand and sandy silt (SM-ML) to coarse sand and gravel (GP-GM) with varying quantities of cobbles and boulders. Most of the tunnel was constructed above the water table although one reach of almost 1,000 lf. had water to above the tunnel crown. The contractor, FCCC, used a Lovat 15 ft. 3 in.900 hp shielded TBM with multiple doors (4) of variable opening to excavate and support the tunnel. Tunnel supports were 5 in. WF 16 lbs. per foot at 4 ft. spacing and4 in. Douglas Fir lagging. Tunnel excavation was worked in 10 hour shifts with additional equipment maintenance and repair on the off time. The original Geotechnical Design Summary Report (GDSR) established a baseline for contractual purposes of slightly over 5 boulders (between 12 in. and48 in.) per foot of tunnel. (Table 1) At the pre-bid conference, three test pits were excavated to approximately tunnel invert, one at each end of the project and one in the middle near the flow regulation structure. The test pits encountered a few boulders but did not seem to support the five boulders per foot (varied from one boulder per foot of tunnel to eight b/lf.). Subsequent to the pre-bid meeting and the test pits, BES issued any addenda which changed the baseline boulder quantity in the GDSR to 1.7 boulders per foot of tunnel (varied from0.2 to 3.5 boulders per foot) a reduction of 67% from the original baseline. It is interesting to note the two separate tunnel reaches and how they were evaluated in the GDSR. Originally the Eastern portion of the work was projected at5.08 boulders per foot of tunnel and the Western portion at 5.30 boulders per foot of tunnel for a variance of less than 5%. In the revised quantity the Eastern portion was projected at 2.01 boulders per foot of tunnel and the Western portion at 1.42 boulders

Jan 1, 2003

By Gunter Fauth

The setting of tasks for the process control of coal cleaning, and in this connection the requirements for instrumentation can be classified into the following three fields: - Monitoring the operation of individual units, or process steps, - Control of units or process steps, - Control of the entire coal cleaning process with the intention of optimizing the operation and the profitability of the process. Instrumentation is affected by the type of cleaning processes. For introduction Figure 1 shows the simplified flow sheet of coal preparation which is usual in the German Ruhr District and in which desirable places for the measurement of ash, moisture and sulfur content are marked. The preparation plant is supplied with run-of-mine coal from the shaft via a homogenization facility. In a first step of primary classifying the raw feed coal is screened at about 10 mm. The raw coarse coal ( = 10 mm) is sorted by jig washers or heavy-medium separators. the raw fine coal (< 10 mm) at first is pneumatically sized at about 0.5 to 0.75 mm. The fines, the aspirated dust, are a finished partial product which will be added to the final metallurgical or steam coal. The material 10 to 0.75 mm subsequently is sorted in fine coal jigs and dewatered in centrifuges. The sludge obtained with the wet cleaning processes is dewatered in thickeners and fed to the flotation. Concentrate and tailings are dewatered by filters or bowl centrifuges and by chamber filter presses or belt filter presses, respectively. The partial products coarse coal, fine coal, flotation concentrate, aspirated dust, and middlings are blended to result in the sellable products metallurgical and steam coal.

Jan 1, 1984

By D. L. Kiser

Conventional and advanced coal preparation technologies were investigated through both a literature search and through direct contact with investigators and developers. In addition to a brief description of each process, performance characteristics including feedstock type, ash and sulfur reduction, thermal energy recovery and cost are provided in a tabular form. Seven of the most commonly utilized conventional coal preparation processes, including those respectively accepting coarse, intermediate and fine coal feed, were reviewed. It was found that certain properly implemented and well maintained conventional processes were capable of better than 75 percent ash removal while recovering 90 percent or more of the inherent thermal energy. Almost 50 advanced coal preparation processes were investigated based on biological, chemical and physical principles. Physical processes investigated included cycloning, homogeneous heavy media, electrostatic, high gradient magnetic, flotation and selective coalescence. Using pulverized coal as a feedstock, some of these processes are respectively reported to be capable of removing better than 95 percent ash. 95 percent pyritic sulfur, and 50 percent organic sulfur while incurring energy losses of less than 5 percent.

Jan 1, 1986

By John V. Beall

A completed feasibility study executed by an independent agency can benefit a company in two ways. Inside the organization, it verifies the project staffs ideas and their concept of the facility. Outside the company, it can be utilized to obtain equity partners, debt financing, and other forms of credit. It is advisable to bring in a project execution contractor for the feasibility study. A project execution contractor is able to work with engineers to develop the project concept, process flowsheet, and best utilization of the site. By getting an early start on understanding a company&apos;s policies and working methods, a project execution contractor saves the company money since it does not have to go through the educational buildup twice. The contractor is a specialist in putting together a bankable document that can be taken to a financing source. It answers all the agency requirements on the first pass. In addition, the contractor can advise an owner on likely financing sources since he works on the worldwide market every day. A less obvious advantage of including the contractor in the study and predevelopment buildup stages is the importance of coordinating finance and technical input. The financing source influences equipment specifications, procurement, logistics, project schedule, cash flow, and liquidity. There are many surprises in store for any manager of a large international project involving worldwide financing and purchasing. The job does not have to be made more difficult by bringing in a contractor after all predevelopment steps are taken. The contractor can still work if the predevelopment steps have been done, even if he does not agree with them. But early contractor involvement is the preferable solution.

Jan 10, 1980

By Paul C. Jones

Summitville is an old mining district located south of Wolf Creek Pass in the southern San Juan Mountains of Colorado at an elevation higher than 3500 m (11,500 ft). The Summitville mine site is about 40 km (25 miles) southwest of Del Norte. The current mine, developed by Galactic Resources Ltd. and its subsidiaries in the mid-1980s, is on the north facing side of South Mountain. The area is drained by Cropsy Creek to the east and Wightman Fork to the north, both tributaries to the Alamosa River. Mining in the Summitville area began in 1870 when James Wightman discovered placer gold on what is now known as Wightman Fork of the Alamosa River. The first vein-type deposits were located in 1873 on South Mountain near the current Summitville Mine. Mining began in the district in 1875 and continued sporadically through 1942. Major mining episodes occurred from 1875 to 1894 and from 1926 to 1942. Total gold production from the mining district through 1949 totaled 7.5 t (240,000 oz). An additional 7.7 t (249,000 oz) were produced during Galactic&apos;s tenure. Natural degradation of the outcropping sulfide-rich veins in the area and the early mining activity, including development of the Reynolds, Dexter and Iowa drainage tunnels in the late 1890s, have polluted the streams draining the area with heavy metals and acidic water. Names of the various tributaries to Wightman Fork, such as Iron, Alum and Bitter Creek, testify to this natural pollution. This degradation has reduced, or killed, aquatic life in several area creeks, including Wightman Fork, for many years before recent mining activity.

Jan 1, 1993

By F. B. Brost

In 1976, a decision was made by Anamax Mining Company to install an unusual conveying system to transport ore 10.3 km (6.4 mi) from the new Eisenhower Mine to the Twin Buttes concentrator. The system, supplied by Cable Belt Limited of the United Kingdom, represents a radical departure from conventional belt conveyors. The driving tension is applied through two endless wire ropes driven by a single 2 240 kw (3 000 HP) drive while the belt acts only as the ore carrying medium. Full production was begun in January, 1979. Start-up problems hampered production for several months but were resolved by a joint Anamax-Cable Belt effort. The system has been operating at design capacity for 4-1/2 years, and has proven itself as a reliable, low cost ore transportation system.

Jan 1, 1984

By Naoko Shimazaki, Andre Xavier

Over 10 million tourists have visited Vietnam in 2016. Travel and tourism accounted for 9.3% of the country’s Gross Domestic Product (GDP) in 2014. At the same time, as with many other resource-rich developing countries, Vietnam has been developing its extractive resources sector as a means of promoting the country’s social and economic development. In 2015, mining was the third largest contributor to GDP, and accounted for 8% of Vietnam’s gross domestic product. Vietnam is the third largest mineral producer in SE Asia. Although it produces zinc, nickel, bauxite, and manganese, coal mining is its most developed sector. The country has over two hundred coal mines, and total reserves of approximately 6 billion tons. Quang Nihn Province, where the World Heritage Site Ha Long Bay is located, is a very important tourism destination. It is also a coal-rich region where mining extraction and processing have been active since the early 20th century. Vietnam is signatory of the United Nations Sustainable Development Goals (SDGs). The country is aware of the importance and the challenges involved in managing the extractive sector in a way that does not undermine its tourism industry and yet that contributes to the country’s sustainable development. To this end Vietnam is taking actions towards implementing more advanced coal-mining extraction and processing techniques. The country is furthermore promoting a responsible mining sector, and is investing in programs that foster environmental protection and sustainable tourism. This paper examines the case of the Ha Long Bay region and the project involved in relocating the Hong Gai coal preparatory factory from a seafront area to a mountainside area. This paper provides a preliminary review of the initiatives adopted by the government of Vietnam to address the existing challenges that have resulted from a focus on promoting the country’s socio-economic development through the exploration of its rich coal endowment. Furthermore, it also describes Vietnam’s legal and policy frameworks. In conclusion this study identified that Vietnam has drafted a National Action Plan to implement the Sustainable Development Goals. The country is also taking an integrated approach to implementing the SDGs agenda and that it is assigning responsibility to a variety of ministries to achieve SDGs’ specific targets. Furthermore the country is changing policies and the legal framework in order to facilitating the execution of the work of agencies that are responsible for implementation, regulation and enforcement. In this respect, the approval of the National Action Plan on Sustainable Development Goals is another important step in that direction. While the decision of supplying its internal market with high quality coal helps minimize negative environmental impacts in Vietnam, exporting low quality coal to other countries does not help resolve the problem of CO2 emissions globally. With respect to the 2030 Agenda, this may be considered a temporary solution since to achieve the SDG goals, Vietnam will have to consider other sources of cleaner energy in order to align with the Sustainable Development Goals # 7 on affordable and clean energy.

Jan 1, 2017

By R. Fred Pena

The Tower Mill has proven to be a grinding machine with a demonstrated application flexibility. Variations in applications have proven to be numerous. This mill was originally intended for fine grinding applications. Subsequent testwork and installations have demonstrated the mill can be utilized in place of ball mills as secondary mills. The following lists a few of the circuits tested: 1. Tower Mill secondary receiving feed from a primary SAG mill grinding stage. 2. Tower Mill as tertiary grind unit following a rod mill/ball mill. 3. Tower Mill as secondary grind unit following a primary ball mill. 4. Tower Mill as a limeslaker. 5. Tower Mill grinding as a primary unit taking limestone crusher discharge. Applications demonstrate the mill is energy efficient and is sensitive to the following consideration: 1. Circuit chosen. 2. Top size of feed. 3. Product size required. 4. Classification equipment performance. 5. Media size required. 6. Media type required.

Jan 1, 1986

By P. Piga, O. Sammarco

There is a markedly increasing tendency to design deeper and deeper mines, to use larger amounts of explosive per round, to increase the advance rate of the excavations and so the natural ventilation tends to be more intense in the new mines. For this reason, the mines that make use of powerful mechanical ventilation should also take into account such factors as natural ventilation pressures, especially in the case of mines excavated in high-temperature rocks for which natural ventilation is particularly intense. The results of the studies reported here refer to a very hot mine excavated in an area with a high geothermal flow (the Boccheggiano - Campiano mine, southern Tuscany). At various external temperatures, experimental measurements and analyses have been made of the trend of the thermodynamic characteristics of the ventilation air and of the trends of the air/rock heat exchange along the downcast shaft and along the upcast shaft. These data were then used to work out approximate values of the corresponding natural ventilation pressures. After having identified the most conspicuous variations of the thermodynamic parameters of the ventilation air and the factors causing them, an assessment was made of the repercussions they have on the air flow rates and, above all, on the climatic conditions of the underground excavation sites. The natural ventilation pressures were found not to be constant in time; indeed they change continously and it is difficult to predict the changes. Moreover, it was found that their influence on the ventilation of a section of the mine network is greater if the effect of mechanical ventilation on that section is weaker. In the mine section where the measurements were carried out, some portions were found where the ventilation could become insufficient as a result of the effects of natural ventilation pressures. Finally, some guidelines to be followed in designing hot mines have been put forward which ensure efficient ventilation throughout the network at times with the aid of the natural ventilation pressures, which in certain circumstances may reach very high values in mines of this type.

Jan 1, 1987

By Mike Rhodes, Paul Miller, John W. Neale, Vishal Deeplaul, Barrie Hancock, Tony Pinches

The Beaconsfield underground gold mine is one of only a few new Australian gold projects to come into operation in the current climate of low gold prices. Up to 200,000 tonnes per annum of Tasmania Reef ore will be mined and processed over a minimum eight-year life to a depth of 900 metres below surface. The Tasmania Reef is a gold-bearing quartz-carbonate-sulphide vein occupying an old fault structure which transgresses a series of sedimentary beds. The sulphides are predominantly pyrite with lesser arsenopyrite, and also minor copper as chalcopyrite. Drilling to date below this level clearly indicates that the high-grade orebody is open at depth and that the mine life should be extended significantly over time. Since redevelopment of Beaconsfield mine began in the 1980's, extensive exploration has identified a resource of 1.5 million tonnes within a 450 vertical metre zone beneath the old workings, which extended more than 450 metres below the surface. Installation of an 800 litre per second capacity pump station 180 metres below the surface has been critical in overcoming one of the major hurdles experienced during previous operations in the early 1900's. A multi-stage development program, designed to bring the mine into full production, and incorporating construction of the on-site gold treatment plant incorporating bacterial oxidation, has now been completed. Prior to execution of a detailed engineering design of the Mintek-BacTech bacterial oxidation process, a programme of bacterial oxidation testwork was completed to provide a basis for fixing the process design criteria. A flow diagram of the Beaconsfield treatment plant is shown in Figure l. It comprises:

Jan 1, 2000

By J. L. Kohler

The knowledge-based expert systems (KBES) is a potentially powerful technique to the mining engineer in traditional areas of mine design and operations, as well as in the emerging areas of mining automation and robotics. Since KBES is still experimental in many respects, caution must be exercised as this "high tech" tool is developed and applied to mining. The objective of this paper is to demystify expert systems by introducing the elements of KBES, discussing the strengths and weaknesses, and identifying some areas of application in mining, based on the authors&apos; experiences.

Jan 1, 1986

By Aarne Visnapuu

Unmodified pneumatic rock drills may have noise levels of 115 to 130 dB at the operator&apos;s position. Experimental modifications have been made to a standard drill to suppress the noise from the three main sources: the air exhaust noise, the noise radiated from the drill, and the resonance noise of the steel drill rods. A prototype model developed at the Bureau of Mines, Rolla Metallurgy Research Center, operates at a noise level below 100 dB. A close-fitting case and muffler unit, consisting of a metallic skeleton filled with viscoelastic absorber and having a durable cover, provided both muffling and noise absorption. Damping alloys were used at strategic points in the drill. Drill steel resonance noise was reduced by a constrained-layer treatment on the outside of the drill rod. The singular and combined effects of the treatments are presented in detail.

Jan 1, 1973

By Stanislaw Siewierski

One of the major problems in the exploitation of deep copper ore deposits in the Legnicko-Glogowski Copper Field is ground control and, in particular, roof control of the headings. The depth of copper deposits ranges from 600 to 1200 m. The parameters of ore-bearing rocks and the surrounding rocks show considerable variance of strength properties along the mining thickness (Fig. 1). The roof of the openings exploitation headings consists of dolomite-calciferous rocks. The roof strata consist of layers, the thickness of which vary from several centimeters to 0.6 m (sometimes to 1.0 m). These strata differ in strength and are characterized by igneous and sedimentary discontinuities. On the basis of studies in structure, properties and geological mining conditions of the roof strata in Polish copper mines, the method of roof classification has been developed. (1) This method uses the stability index "L" of the roof, calculated from [ ] The value of "t" ranges from 0, l to 0,8. Based on the value of "L", four classes of the roof (Table 1) corresponding to different degrees of fall hazard have been developed. The mining of copper ore deposit is carried out by a single lift room-and-pillar mining system or a two-stage room-and-pillar system with roof caving. (3, 4). The single lift room-and-pillar mining system is most often used. It consists in working of the deposit of 2.5 to 4.5 m mining thickness, 150-350 m long mining line, consisting of parallel room faces 6 m wide with pillars 5.7 or 16 m wide. As the mining line advances, cross-cuts joining individual rooms are made, thus forming support pillars 3x5, 7x7, 5x16, and 7x16 m (Fig. 2). The two-stage system (Fig. 3) mines the deposit with rooms 6 m wide into blocks 25 x 35 x 25 x 45 m. During the second step these pillars are worked with rooms and cross-cuts into pillars about 3 x 4 to 4 x 5 m (retreat mining). The pillars are crushed just before the fall of the roof. The maximum opening of workings in the two-step system is about 10 m, i.e. one belt entry and one row of bearing pillars. In single lift room-and-pillar systems it is about 35 m., i.e. three belt entries and three rows of bearing pillars. The support of the headings consists of expansion bolts 1.6-1.8 m installed in a bolting pattern 1.1 x 1.5 m. In both systems the fall step is about 10 m, i.e. the width of a belt and a bearing pillar. The Indications of Rock Mass Pressure Individual Dog Heading Individual dog headings are set wide apart from each other in the unmined ore deposit area where there is no interaction of headings. The indication of rock mass pressure are, in such cases, limited to the deformations and damage of side walls. Radiometric studies of rock mass loosening showed that the maximum range of lifts in side-walls immediately after web was 2 m (4,5). In the course of time the cracked side rocks fall off, thus widening the heading. The morphology of side-walls is influenced by the location of the heading in relation to clump layer/tarry. This layer is characterized by a weak strength and "lubricating" properties. The location of the heading in

Jan 1, 1982

By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

By Dennis J. Lachel, Lloyd B. Underwood

In recent years a great number of papers have been presented at symposiums and have appeared in the literature relative to geologic prediction for rapid excavation and tunneling. Many of these papers describe research projects now underway to investigate tunnel site selection by remote sensing techniques, seismic holography, electro¬magnetic pulse sounding, optical scanning for structural features, and many other exotic geophysical techniques. While it is possible that this research will produce techniques that may prove to be very useful, it appears for the present at least, and perhaps for another decade, that there still will be no substitute for conventional exploration methods such as coring boring, geologic mapping, studies of existing wells, and proven geophysical techniques. Nevertheless, there is still room for tremendous improvement in the conventional techniques for geologic prediction in tunneling. These include: more rapid and accurately aligned coring borings drilled parallel to the tunnel alignment; improved geophysical surveys both prior and during construction; improved methods for predicting ground¬water inflows and water pressures, both of which can greatly influence the cost of driving tunnels. Geophysical techniques can also be ap¬plied to locate deeply incised glacial troughs or ancient buried stream channels that might cross the tunnel alignment. In the meantime, while some researchers continue their efforts to¬ward a breakthrough in new techniques for geologic prediction, it is recommended that other researchers direct their efforts toward sol¬ving specific problems such as accurately predicting ground-water conditions, determining locations of high geostatic stresses, and locations of major fault and shear zones.

Jan 1, 1997