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By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital write-offs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral property possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulfur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. Present Value of a Mineral Property In essence the present value of a mineral property is a sum of money in today's dollars that future income from the property are worth. It differs from the total anticipated earnings by the amount of the interest that the unrecouped investment could be expected to earn during the period of recoupment. Thus, if one could accurately estimate what a mineral property will earn during its life, after deducting all operating, administrative, capital, interest, and tax charges, the determination of present value would be a relatively simple mathematical calculation. Normally, where the expected life of the mineral property extends beyond 20 or 25 years, the discounted value of earnings beyond this period is relatively small. The petroleum industry generally discounts the annual cash flow of an operation rather than earnings since, for tax-saving purposes, earnings are kept

Jan 1, 1976

By John Nagy

The effect of low percentages of methane (0 to 5 pet.) in an air atmosphere on spark initiated explosions of coal dust was investigated. With low dust concentrations (0.1 to 0.4 oz./cu, ft.), small amounts of methane increase the explosion pressure; with larger dust concentrations (0.5 to 2.0 oz./cu. ft.), small amounts of methane decrease the explosion pressure. The rate of pressure rise of a coal dust explosion increases with increase in methane concentration; about 3 to 4 pct. further addition of methane yields a decrease in the rate of pressure rise. Convection currents created by the air or gas blast used to disperse dust produce an increase in explosion pressure and rate of pressure rise. The minimum explosive concentration of the coal dust decreases about linearly as the concentration of methane increases from 0 to 5 pct. The explosion pressure increases linearly as the initial pressure within the chamber increases. Similarities between coal dust and methane explosions are indicated, INTRODUCTION During coal mining, methane occluded in coal or adjoining strata is liberated into the mine atmosphere,4 Normally, the methane is diluted and swept away by the ventilating air. Under some conditions, through accidental disruption of the ventilation system, sudden outburst, or because insufficient fresh air is supplied to a working place, low percentages of methane may be present during mining operations. If it is permitted to accumulate, methane itself presents an explosion hazard; its limits of explosibility arc approximately 5 and 15 pct. The effect of low percentages of methane on the explosibility of coal dust was studied to provide a broader understanding of the hazards of ignition and explosion and thus to facilitate development of control

Jan 1, 1961

By L. W. McKeehan

THE occurrence of twins in large ferrite crystals, made by a new process, was reported in a recent note. This paper describes a typical case of such twinning and suggests, on the basis of the observed facts, why smooth slip-planes are rarely observed in this metal. METHOD OF PREPARATION The material In which the crystals here dealt with were grown was made from 1/8 -in. Armco iron welding rod containing C, 0.04; S, 0.037; P, 0.003; Si, 0.008, and Mn, 0.02 per cent. This rod was cold drawn into wire about 1 mm. dia. A piece of this wire was supported vertically and was locally heated in hydrogen at atmospheric pressure to about 1400° C. by an alternating current (60 cycles per sec.) of about 35 amp., passed through it between a pair of travelling contacts about 8 cm. apart. The rate of travel for the case in hand was 12 cm. per hr. After some 30 cm. of the length of the wire had been heated and cooled in this manner the whole wire was immersed for a few seconds in dilute nitric acid, not restrained by alcohol. Etching was continued until, as nearly as could be judged by eye, the original smooth cylindrical surface of the wire was no longer capable of specular reflection.

Jan 1, 1927

By C. A. Heiland

For a long time it has been known that it is possible to deduce conclusions about the physical constitution of the interior of the earth from the records of natural earthquakes obtained by stationary seismographs. In view of this fact it is surprising how late, relatively speaking, geologic prospecting by seismic methods has been taken up, although the first suggestion was made 40 years ago- that travel-time curves of artificial explosions might be used for the study of the change of the velocity of seismic waves as depth. Further suggestions of practical applications of artificial explosions for geologic purposes were made by Belar,2 by von dem Borne,3 by Benndorf4 and by Galitzin,5 but it was not until 1919 that Mintrop obtained. a patent on the seismic prospecting method which he has applied commercially on a large scale ever since. Dr. Mintrop came to this country with his method at about 1923. Since that time, several. American oil companies have developed seismographs of the mechanical type for the vertical component similar to that of Mintrop's (Humble Oil Co., Dr. Ricker). Other consulting geophysical companies designed other types of seismic devices, the simplest of them for the recording of the first impulse being the geophone (McCollum Geophone Co.). The galvanometric recording method as first proposed by Galitzin is being used (Geophysical Research Corpn.?) and use is being made even of the piezoelectric properties of crystals for portable seismographs (F. Rieber).. There is such an enormous variety of all kinds of portable seismographs, vibrographs, accelerographs, etc., that it is difficult to decide just what kind is preferable. Unfortunately, nothing has been published as yet about American designs of portable seismographs, except the Wood Anderson torsion-seismometer. After Mintrop's design of portable seismographs, other constructions were made.

Jan 1, 1928

By AIME AIME

OCTOBER will be western month for the Institute. With meetings at Spokane, Tulsa, Los Angeles, and San Francisco, and with a large number of American Institute of Mining Engineers members and their families in the party sailing out through the Golden Gate to Japan on the afternoon of the tenth, the major activities of the Institute will, for this month at least, be west of the Mississippi. Despite cancellations due to necessity, most of the officers of the Institute will be present and taking part in some one or more of the Western meetings. Prof. Robert S. Richards, our senior past-president, will attend both the Spokane and San Francisco meetings and then go to Japan. President Bradley will preside at the San Francisco meeting and then head the party going to Tokyo. At Tulsa and Los Angeles, the principal officers of the Petroleum Division will be present and active and at all the meetings, directors, ex-directors and -present and past officers will be on the job and keeping things moving.

Jan 1, 1929

Among countries afflicted with insLantaneous outbursts of coal and gas, Australia is noteworthy because of lesser disturbances of the seams and of the occurrence of CO2 in the seam gas from place to place. Research sLarted with the 1954 occurrences at Collinsville and Metropolitan Collieries leading to early publications reviewing the problem, describing occurrences and assessing variations in proneness factors in the two affected coal basins.The basic requirements for proneness include coals of high gas sorptive capacity, high ground stress, use of a mining method which provides higher stress concentrations and limits emission of seam gas, including high rates of advance. With CO2 in the seam gas proneness is greater.The mechanism is complex and not fully understood, but involves the coal, the roof, the floor, the gas, the mine opening, the ventilation, the kind of work and the rate of work. Geological disturbances such as faults and dykes increase proneness and tend to localise occurrences. On-occurrence of outbursts in some mines is difficult to explain.Outbursts are seen as a continuing threat to modem deep Australian mining of high rank coal.The simplest contributory factor to reduce is gassiness - despite the low permeability of outbursting coals - and present practices are showing promise. The greatest challenges for the future are partial degasification to below a known threshold figure and confirmation that this reduction is achieved and identification of anomalous geological structures ahead, the most likely locations for instantaneous outbursts to occur. The advances made to date give promise of a future with reducing experiences of uncontrolled instantaneous outbursts. For the Bulli seam particularly, working to achieve prediction and prevention is most urgent.

Jan 1, 1993

By S. P. Chong, N. C. Shih, G. A. Turner

Fine powders, with the bulk of the particle diameters Jess than 10 microns, were aerated so that each particle was, on the average, separated from its neighbours by 1.3 to 2 mean diameters. In this state, measurements were made of the viscosity and settling rate of the powder, and the interfacial tension between it and a moist pellet. From the viscosity measurements, qualitative analogies are drawn between the behaviour of the aerated powder and that of a dense gas near its critical point.

Jan 1, 1970

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Jan 1, 1938

By W. F. Marshall

This Bureau of Mines report discusses tests conducted with four different catalytic reactor designs to determine the influences of exhaust treatment systems on emissions from diesel engines. Although there was significant differences in oxidation efficiencies at light to intermediate engine loads, all four catalysts were very effective in reducing emissions at heavy loads. Compositional determinations included carbon monoxide, carbon dioxide, unburned hydrocarbons, oxides of nitrogen, aldehydes, sulfur dioxide, sulfates, and particulate loading. Particulate size, exhaust odor intensity, and the character of the unburned hydrocarbon component were also determined.

Jan 1, 1978

By A. STEPHENSON

EXPERIMENTAL work conducted at the Petroleum Engineering Laboratory of the University of California by L. C. Uren, J. Domercq, Jr., and J. Mejia has shown that small diameter wells offer tremendous resistance to the flow of fluids in their immediate vicinity. This resistance is due in part to the constriction of the area through which the fluids must pass as they approach the wall of the well, but is also accentuated by the increased volume which results from gas expansion. The latter in turn is a function of the deduction in pressure, the fundamental cause of fluid movement. If the diameter of the bore is enlarged several diameters, the capacity of the well, or the volume of fluid passing per unit drop in pressure per unit of time, is greatly increased without necessitating such high fluid velocities. The fundamental features which should be taken into consideration in the design of casing joints were stressed by J. B. Graham and E. E. Smith. These involved such points as correct thread design, high efficiency, and small diameter, together with the insurance that leakage will absolutely be prevented. The practical features of such design were ably discussed by engineers from leading steel manufacturers.

Jan 1, 1935

By Walter E. Hopper

The Caddo oil-field, shown in Fig. 1, is located in Caddo parish, northwestern Louisiana. The known producing territory of oil is covered by townships 19 N, 20 N, 21 N, 22 N, and ranges 15 and 16 W., shown in Fig. 2. The center of the field may be taken as Oil City, 24 miles north of Shreveport, on the Kansas City Southern railway. Shreveport is the second largest city in the State, and is the connecting point of five railroad-lines. Drilling at the present time, however, is going on all over northern Louisiana, especially in Caddo and the neighboring parishes. During the winter of 1908-09 I spent 'four months in the Caddo field, under the direction of the Louisiana Geological Survey and the U. S. Geological Survey. II. History and Development. Natural gas escaping at the surface is found at numerous places in northwestern Louisiana. At Shreveport, the plant of the Shreveport Ice & Refrigerating Co. has been lighted by natural gas for 20 years. The well was drilled for water, but was abandoned on account of the gas. A test well, put down in 1905 near the western limits of Shreveport, was driven to 1,650 ft., and encountered indications of gas and oil at various depths, but did not succeed in finding enough to be profitable. Attention was first attracted to the Caddo field in 1895 by indications in water-wells from 40 to 60 ft. deep, in which the pressure of natural gas was noticeable. This indication of gas in a shallow well led to the drilling of the first well in the Caddo field, the old Savage Brothers & Morricell, or the Caddo Lake Oil and Pipe Line No. 1. The rig for this well was erected in May, 1904, and drilling began in June, 1904. The well was bailed Mar. 23, 1905, with a small amount of oil. It was deepened July, 1905, and converted into a "gasser" Jan. 3, 1906. It was abandoned January, 1907. In consequence of the finding of oil in the Savage well, drilling-operations were pushed with energy; and in April, 1905,

Jan 1, 1912

By w. w. Fraser

"In late 1985, Hudson Bay Mining and Smelting Co., Limited announced the Namew Mine/Mill project. Environmental baseline monitoring and planning began in early 1985 while a major drilling program was under way to delineate the ore deposit. This paper overviews the environmental assessment work conducted for the mine/mill operation, and outlines the tailings and water management practices.Planned environmental works and approach were affected in late 1988 when a massive water problem was encountered in the mine. The requirement to depressurize the rock surrounding the underground workings led to the need to develop, on short notice, an environmentally-acceptable procedure to dispose of a large volume of slightly-saline water.Biological toxicity tests performed on the depressurized effluent proved the effluent to be non-toxic and thus allowed resolution of the disposal problem. This resolution includes the conversion of a large water body from native fish species to a rainbow trout fishery."

Jan 1, 1991

By Bharat Garg

The coking coal or clean coal from raw material division, Tata Steel Ltd. is a prime source of energy for inhouse steel making. Coal reserves of semi soft coking coal at West Bokaro is beneficiated by dense media cyclone and froth flotation processes to produce clean coal. In dense media cyclone process two byproducts-middling and rejects are also produced along with clean coal. With the growing demand for clean coal, it becomes imperative to maximize the recovery of clean coal in beneficiation processes. This will help, not only in reduction in cost of production, but also in raw resource conservation, and proper utilization. In this context, a case study was conducted at West Bokaro to identify opportunities for clean coal recovery from by-products. This paper mainly discusses the process for recovery of clean coal from byproducts and study of further liberation of clean coal from byproducts for economic consideration.

Sep 1, 2012

By S. Stephen Uslan

The purpose of the study was to demonstrate the effect of positive reinforcement, specifically, social reinforcement (SR), on the frequency of eye, hand, and back injuries at four experimental salt mines. Injury data was collected from January, 1976, for the prePOMOST period and from the onset of training to September, 1978, for the post-POMOST period. All data was collected on a month-by-month basis. For the training period approximately 100 managers and supervisors from five plants were trained in the use of positive reinforcement for occurrences of "safe behavior." Each supervisor was also provided manuals and other supportive materials. Additionally, following training, all supervisors were provided some coaching experience to keep the knowledge and capabilities gained during training from being extinguished. The analysis showed significant injury reductions in two sites and no injury reductions in the other two. When the injury data was corrected for the additional man hours expended in the postPOMOST period, a third site showed reduction in injuries. Similar findings were shown when the experimental sites were compared to other sites in the industry. The results were interpreted to support the hypothesis that the application of social reinforcement is related to a reduction in injuries.

Jan 1, 1978

By Phillip J. Maddex

After the presentation of a co-authored paper, "The Cost of Transporting Ores and Raw Materials in World Markets", at the February SME meeting, one questioner commented, "You have been talking about the large shipper and ship loads. What does the small shipper do?" This paper will attempt to answer that question, at least in part. Probably the questioner hoped to hear about specific new tools and new techniques that he could apply. But one paper could only scratch the surface of the vast fund of information available; so rather than talk specifics we should take basics, that is, people, management and technology.

Jan 1, 1967

By G. ALBORNOZ, S. Utili, A. AGOSTI, C. VALDERRAMA, R. PELL, N. Morales

The steepness of the slopes of an open pit mine has a substantial influence on the financial return of the mine. The paper proposes a novel design methodology where overall steeper pitwalls are employed without compromising the safety of the mine. In current design practice pitwall profiles are often planar in crosssection and the profile in between ramps especially tend to be planar and defined by a constant inter-ramp angle. Sometimes rock layers exhibiting different strengths require the inclination of the profile to vary with depth, but the inclination across each layer is usually constant. Here instead, a new geotechnical software, OptimalSlope, is employed to determine optimal pitwall profiles of depth varying inclination. OptimalSlope seeks the solution of a mathematical optimization problem where the overall steepness of the pitwall, from crest to toe, is maximized for an assigned lithology, geotechnical properties and Factor of Safety (FoS). Bench geometries (bench height, face inclination, minimum berm width) are imposed in the optimization as constraints which bind the maximum local inclination of the sought optimal profile together with any other constraints such as geological discontinuities that may influence slope failure. The obtained optimal profiles are always steeper than their planar counterparts (i.e. the planar profiles exhibiting the same FoS) up to 8 degrees depending on rock type and severity of constraints on local inclinations. The design of a copper mine is first carried out employing planar pitwalls, secondly adopting the optimal pitwall profiles determined by OptimalSlope. The adoption of optimal slope profiles leads to a 34% higher net present value and reductions of carbon footprint and energy consumption of 0.17 Mt CO2 eq and 82.5 million MJ respectively due to a 15% reduction of rockwaste volume.

Mar 2, 2022

By M. W. Fabjanczyk

Cement and resin encapsulated tendons are widely used in the stabilisation of mine roadways. One of the main factors in controlling the efficiency of the reinforcement is the ability of the tendon to generate load in response to rock deformation. The analysis of field data from instrumented reinforcing tendons complimented with extensive laboratory investigations have more accurately defined the mechanisms by which load generation occurs. The role of reinforcing tendon profiles, hole geometry and encapsulation medium properties in controlling the reinforcement stiffness and capacity are discussed. The results of the investigation have implications in both the design of rock reinforcing systems and the optimisation of encapsulation mediums and tendons.

Jan 1, 1992

By Whitworth N, Anderson P

New plant has been commissioned to treat off-gases from the Fluo-solids Reactor in the Copper Smelter. The new section of plant was built onto an operating system and commissioned with minimum disruption to production. Under construction is a 270 m tall stack for Lead Smelter gases. Additional items for the Lead Smelter will include a new gas cooler, a central baghouse to replace Sinter Plant wet gas scrubbers, a new exhaust fan on the main baghouse, and ducting of drossing gases to the main baghouse. Emphasis is given to discussing improvements the new plant has made to working conditions, the general environment and increased production capability. Total expenditure in the two smelters is in the order of $25 million.

Jan 1, 1978

By William F. Boericke

KIRKLAND LAKE and Porcupine in 1931 accounted for more than $41,625,000 of Ontario's total gold production of $43,117,688. For the first time, the younger camp surpassed the older in gold output, producing $21,734,000 against $19,891,000 for Porcupine. Present output of both camps is increasing, and should pass the record figures of 1931 before the year is out. In May of this year, Porcupine mines milled 285,759 tons, with a bullion value of $1,810,009; the corresponding figures for Kirkland mines are 149,188 tons and $2,104,757. A much higher average value per ton for Kirkland ore, $14.10 against $6.33 average for Porcupine accounts for the difference. The two fields are about 100 miles apart by rail, and there are important differences in the character of the ores, which accounts largely for the difference in milling costs and in final tailing values, despite excellent metallurgical work in both the fields.

Jan 1, 1932

By H. L. Bourne

The sand dunes which line the east shore of Lake Michigan resulted after the last, or Wisconsin, glacial period in Michigan. Melt-water streams carried vast quantities of glacial debris to the near shore areas of predecessors to Lake Michigan. As the lake levels receded, these vast quantities of sand were exposed to the prevailing westerly winds, which was the last major process that acted upon the sand and resulted in the formation of the dunes. 1 These dunes are one of the significant natural resources within the state. Michigan dune sands supply about 90% of the foundry sand used in the automotive industry, and 40% of the foundry sand used 2 for all purposes within the United States. The deposits owe their importance to the following factors: grain size distribution, grain shape, mineral composition and location with respect to the foundry sand market. In spite of their economic significance these I deposits are in jeopardy through legislative preemption.

Jan 1, 1975