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By Howard M. Wells

Portfolio theory and the Capital Asset Pricing Model (Modigliani and Pogue, 1974) provides an investment decision rationale which takes account of the benefits of diversification in reducing effective risk, but this theory does not consider the financial capability of the firm to survive large losses if they should occur. The LL-curve theory (Wells, 1976) takes the latter consideration into account, but it does not provide for the effects of diversification. This paper pro- poses a general theory to account for both diversification and the financial capacity of the firm to underwrite the investment risks.

Jan 1, 1983

By R. Hadfield

Last year this institute was good enough to accept some remarks by the writer regarding sound steel, entitle Plant for Hadfield Method of Producing Sound Steel Ingots…

Jan 1, 1915

By R. A. Beall

Homogeneous zirconium-alloy ingots have been cast on a production basis by the consumable-electrode arc-melting process at the Northwest Electrodevelopment Experiment Station, Bureau of Mines, Albany, Oreg. This paper describes the various methods used to introduce alloying materials into the ingot and evaluates 1 each method by the degree of homogeneity of resulting ingots, as determined in tests on sections cut from the ingots. As many as 30 or more ingots, each 6 to 10 inches in diameter and weighing 300 to 500 pounds, were melted, using each method; and, as most of them subsequently were fabricated to strip 0.1 inch thick, the test results are considered to be representative of production practice. Ingot homogeneity has been considered more difficult to achieve in arc-melting practice than by methods where the molten metal is poured into molds and the addition can be stirred into the total mass of metal before casting. Owing to the unique requirements of consumable-electrode arc melting the addition can be made only to that part of the total mass of the ingot that is molten at one time. Observation of the flowlines in 500-pound ingots produced at Albany indicates that the molten pool has a maximum depth about equal to the ingot diameter. The weight of metal molten at one time is, therefore, not over 100 pounds. Characteristically, the arc-melting process is conducive to segregation, which can be overcome, at least partly, by adding the alloy constituents almost continuously during casting.

Jan 1, 1956

By Roy Lindgren

SINCE the year 1643, when the first blast furnace in America for treating iron ore was built at Saugus, Mass., out of mica schist quarried in the neighboring district, the procurement of a suitable refractory for furnace lining has been a problem of concern to the operators of furnaces. The stacks built of mica schist continued to smelt iron ore until about 1836, when, according to F. H. Norton, the first firebrick were produced1, at Queens Run, Pa. Other writers speak of brick having been molded and burned in Massachusetts about the year 1834. In 1841, Andrew Russell began to produce medium refractory plastic clay brick near East Liverpool, Ohio, that were used for lining blast furnaces1. The well-known Kentucky clay-producing district was not opened up until the year 1871, but since then it has produced a large percentage of the linings for iron blast furnaces. While some strides have been made by the refractories industry during the 100 years that have passed since the first firebrick were produced, it has been only during the last two decades that any real progress has been made towards bettering the product, even though the method of production had improved. Perhaps the fault lies with the user of the brick rather than with the producer, for not sooner demanding a supe-rior product. During the past 15 years the tonnage produced per lining has increased from 500,000 gross tons to 1,000,000 gross tons, and now some furnaces are producing 1,600,000 gross tons and better on a single lining. It is true that enlarged capacity of furnaces and improved practice have accounted for some of this increase in tonnage, nevertheless better quality in firebrick must be given credit for its share. However, we are not yet ready to say that we have reached a maximum life of furnace lining. We believe that a better product can be produced and that the refractories industries of America will, through their extensive research depart-

Jan 1, 1937

By J. E. Udd, L. P. Geldart, B. B. Dhar

"Solutions for the stress distributions around simulated underground openings have been limited to calculations of boundary stresses for simple openings in which the boundaries may be expressed in mathematical terms. Studies involving circles, ellipses and ovaloids are re-ported in the literature.The stresses on the boundary of an opening and those at a distance from it in the medium are of concern to the engineer. The former may be related to the greatest concentrations of stresses encountered; the latter have a bearing on the identification of the ""zone of influence"" of the opening.Recent advances, in the form of a derivation for the stresses at a distance from an opening of elliptical shape, together with a solution derived previously for stresses in depth around ovaloidal openings, have been combined with computer programming techniques to provide complete solutions for a wide range of cases and variables. Some typical results which, it is hoped, may have some application to the design of underground openings are given herein."

Jan 1, 1970

By Adrian E. Scheidegger

Recently, a new theory of the subsidence of rock masses has been advanced by Litwiniszyn and coworkers, which is based on the notion that the individual rock particles perform random walks. It is shown in the present paper that the final equations of the random walk theory can be justified from general principles of statistical mechanics in which no specific theoretical model of particle behavior has to be made. The theory appears to account appropriately for subsidence phenomena.

Jan 1, 1966

The Rosebery Mine on the west coast of Tasmania is a world class polymetallic base metal deposit, containing six major minerals: galena, sphalerite, chalcopyrite, gold, silver and pyrite. This resource has been exploited for nearly a century, yet a reliable estimate of the reserve continues to present a challenge.Over the past twenty years, the operation has changed from relatively low productivity cut and fill timber-support scraper mining, to higher productivity bulk mechanised open stoping. At the same time, economic constraints have changed and grades have fallen, which have increased the pressure to refine the resource/reserve estimating processes. This paper compares the restrictions of the polygonal section method of the past with the advantages of a kriged block model. The limitations of Mine Call Factors, the problems involved in converting decades of diamond drilling data on paper into a computer data base, and the effect of this new methodology at Rosebery, are described.

Jan 1, 1990

"Sedimented hydrothermal precipitates of silica, now fine-grained quartz, are described from a Pb-Zn-bearing vein system. Their discrimination from the wall-accreted fine-grained quartz that is common in the shallow parts of epithermal systems is discussed. Local fine-grained (<0.3 mm) quartz accumulations occur in a suite of veins with otherwise normal drusiform and crustified infills. This sediment may fill the vein above chokes in steep segments (axial plugs), or form continuous layers within the footwall material where the vein is inclined at low to moderate angles. Pads of fine-grained sediment are deposited on the upwards-facing surfaces of wall-rock clasts and of drusiform crystals growing from the vein walls. The asymmetry of these deposits differentiates them from the more common symmetrical, crustified walllining deposits of fine-grained quartz and opaline silica, and requires a gravity-controlled, sedimentary depositional mechanism.Thin section examination shows that much of the fine-grained quartz is present as elongate prisms. The prism habit was present soon after deposition, but it is not possible to identify unequivocally the original sedimented grains. Sedimentation of vein- and wall-rock-derived detritus is also recognized. Deposition of the fine-grained sediment accompanies normal in situ drusiform growth of quartz and other vein minerals. The mammilated and spherulitic textures associated with accretion of amorphous quartz are entirely absent from the Tyndrum veins with sedimented materials. The literature on modern hydrothermal waters and physical chemistry of silica precipitation shows that precipitates of silica suspended in hydrothermal fluids are amorphous and derived from colloidal silica. It is argued that much of the suspended silica was present as quartz at the time of deposition or was converted from amorphous silica almost immediately after deposition.Hydrothermal sediments and their distribution potentially provide information on flow directions and velocity in veins. Plugs of sediment obstruct vertical flow and lead to local flows with large horizontal components. It is shown that sedimentation features occur in other deposits and can involve other minerals. If the features seen here can be scaled up to the size of major veins, they may result in up and downdip variations in mineral assemblages and abundances, which may affect grade."

Jan 1, 2007

By Anthony S. Spearing

The vast majority of the estimated 100 million rock anchors installed in mines in the USA per year use resin cartridges (Tadolini and Mazzoni, 2006). About 4.5 million per annum of these are bolts with a mechanical shell that if properly installed become effective active supports on installation. In addition, cable anchors (mostly passive) are installed with typically 4 ft of effective resin anchorage length sometimes with mechanical shells, which further makes the installation more difficult. This is because the cable (even with a stiffener tube) is not very rigid. When installing bolts with mechanical shells and cable bolts in the holes, the back-pressure can be so high that the installation is unsuccessful often creating a ?spinner? (an un-tensioned bolt) at best or buckling the bolt thus requiring another bolt/cable to be installed, or leaving a poorly functioning unit. The installation problems can create a significant potential safety hazard and waste time and money. Using a purpose designed test rig that physically inserts different rock anchors into pipes with resin and measure the back-pressure developed with time during the insertion/ installation. The test installation procedure is designed to mirror that used underground by rockbolt operators in coal mines. In addition a computer model has been calibrated that can predict the approximate back pressure of new anchor and resin combinations acting as a screen before physical testing. This research has lead to an understanding and quantification of the insertion back-pressures and this already resulted in improved prototype designs that could lead to more reliable mechanical shell and resin bolt installations.

Jan 1, 2009

By M Slight, H Lacy

In recent times, with the global mining industry’s focus on sustainable development there has been a significant focus on mine closure and rehabilitation performance and reporting through the development of the International Council on Mining Metals (ICMM), the Global Reporting Initiative and the Equator Principles. In addition, financial reporting obligations under International Financial Reporting Standards and the Sarbanes Oxley Act (2002) have also led to better understanding and improvements with industry closure performance, liability management and reporting.Under these sustainable development principles and financial reporting obligations, mining companies are required to consider mine closure planning and associated cost estimates across all life cycle phases of the mine. Internal processes have been developed within mining companies to better understand their closure liabilities and obligations and likely costs and cost estimating processes are generally developed for long-term life-of-mine (asset) planning and budgeting, financial reporting for corporate balance sheet provisioning purposes, and regulator reporting for environmental bonding and financial assurances.These days mining companies need to plan for, prepare and actually mine for closure right from the start of a project. This means that their closure and rehabilitation liabilities throughout each stage of the mine life cycle phases must be understood, planned for, managed and controlled.So how is the industry performing? Understanding of closure liabilities is improving and reflected in liability cost estimations that are recognising the likely issues to be faced at closure, but there is a way to go to ensure that the industry doesn’t add to the increasing legacy liabilities being passed onto the wider community.CITATION:Slight, M and Lacy, H, 2016. Closure liabilities – where are we at?, in Proceedings Life-of-Mine 2016 Conference , pp 28–30 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By L. F. Heising

Ten composite samples of Mesabi Range nonmagnetic taconite from the Hibbing, Minn., area were evaluated by flotation and by reduction roasting-magnetic separation to determine their potential as a future source of iron are. Only one of the composites yielded concentrates that could be considered marketable, using as a criterion a 10-to-1 iron-to-silica ratio. Cursory petrographic examinations of all 10 composited samples and a detailed mineralogical study on 1 sample suggest that unfavorable mineralogical associations between iron and gangue minerals are responsible for their poor beneficiation characteristics.

Jan 1, 1967

By A. Cecala, J. Noll, J. Hummer

The National Institute for Occupational Safety and Health has observed that many control rooms and operator compartments in the U.S. mining industry do not have filtration systems capable of maintaining low dust concentrations in these areas. In this study at a mineral processing plant, to reduce respirable dust concentrations in a control room that had no cleaning system for intake air, a filtration and pressurization system originally designed for enclosed cabs was modified and installed. This system was composed of two filtering units: one to filter outside air and one to filter and recirculate the air inside the control room. Eighty-seven percent of submicrometer particles were reduced by the system under static conditions. This means that greater than 87 percent of respirable dust particles should be reduced as the particle-size distribution of respirable dust particles is greater than that of submicrometer particles, and filtration systems usually are more efficient in capturing the larger particles. A positive pressure near 0.02 inches of water gauge was produced, which is an important component of an effective system and minimizes the entry of particles, such as dust, into the room. The intake airflow was around 118 cfm, greater than the airflow suggested by the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) for acceptable indoor air quality. After one year, the loading of the filter caused the airflow to decrease to 80 cfm, which still produces acceptable indoor air quality. Due to the loading of the filters, the reduction efficiency for submicrometer particles under static conditions increased to 94 percent from 87 percent.

Jan 1, 2015

By ZáWang, F Hungerford, T Ren

Operations in an underground drill site have to co-exist within the mineÆs ventilation and operational system. The space requirements of a drilling operation have to be adapted to the limitations provided in available site space, which is usually defined by standard mining operations and geotechnical influences. These limitations affect borehole design, equipment positioning in the site layout and possible interactions with mining equipment and services such as water and power supply.The ventilation requirements for drill sites and the means employed vary with depth of the site, space and likely presence of gas. All drilling operations provide a particular service for the mine and in each case, drilling must operate in a manner which controls all gas, water and cuttings returning from the borehole. The various standpiping systems employed have evolved under differing influences and must cater for conditions during and after the drilling operations.The influences that gas content, pressure and flow, rib stability, cleat direction, borehole length, potential water pressure and flow have on a mineÆs operation and ventilation systems have to be considered in the design of standpipe length, diameter and fittings. Past history has a strong influence on common practice while worst case effects of a possible in-hole event should be catered for.This paper describes the early drilling systems and their limitations in ventilation and gas management. The drill site dimensions and set-up are discussed in the context of roadway conditions, equipment layout, ventilation and logistics. The use of standpiping to control all returns from the borehole is illustrated by referring to likely scenarios in a drilling site to achieve the most effective sealed depth to accommodate the worst case possibility of intersecting high pressure gas or water during the drilling operation. Practices to allow gas drainage in the return airway of a panel are described.CITATION:Hungerford, F, Ren, T and Wang, Z, 2013. operational management of underground in-seam drilling sites, in Proceedings The Australian Mine Ventilation Conference , pp 43-48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By M. C. Malamphy

A general description of the activities and results of bauxite investigation by the Bureau of Mines at its bauxite project in Saline and Pulaski Counties, Arkansas has been given in Report of Investigations 4251. The factual data obtained during the project are reported in a series of Reports of Investigation beginning with No. 4251 of which this is the tenth. The data are accompanied by maps showing the location of holes drilled and the deposits developed. Each area upon which work was done is reported by half townships. Each bauxite deposit investigated was assigned a name and a number for ready reference and identification, and its location and name are shown on the appropriate half-township map. The description of each half township is followed by a description of which deposit developed in that half township. The 14 half-township maps and 77 detail maps of the bauxite deposits in this series of reports give the locations and numbers of all the holes drilled on the project except the deep holes drilled to test the geophysical anomalies. The locations of those holes show on figure 13 in volume 1. The descriptions of the deposits developed are followed by complete detailed logs of the drill holes. Many of the widely spaced exploratory holes did not discover bauxite of minable thickness and grade. The pertinent information obtained from the widely spaced exploratory drill holes has been summarized and tabulated. and a table for each half township is given with the discussion covering that area.

Jan 1, 1948

By R. Bainbridge

"IntroductionTHE LEAD SMELTING Department of The Consolidated Mining •and Smelting Company of Canada, Limited (Cominco), at Trail, B.C. treats materials from numerous sources for the recovery of lead, •and, of secondary importance, for the .recovery of sulphur as S02• The Department's sintering section has a .capacity of 1,500 tons daily. This section is being replaced by •a new charge-•handling and sintering plant with a daily capacity of 2,000 tons of finished sinter. Materials handled in the sintering section comprise concentrates, ores, and fluxes from Company mines and from 'custom' (independent) producers, together with intermediate products from various plants of Cominco'•s Metallurgical Division, all of which must be treated to, make up a chemically balanced charge of a predetermined lead content for the sintering plant.As received, 80 •per .cent of these materials are finer than 200 mesh, and one-quarter of the tonnage (dry basis) is a slurry .at 30 to 40 per cent moisture. This slurry, a -residue from the electrolytic zinc operation, was, for many years, partially dried before being mixed with other dry materials to make up the sinterplant charge.Some experimental work carried out in 1937 indicated that the metallurgy of the sintering operation could be improved by adopting a technique of 'wet-mixing' followed by controlled drying and nodulizing."

Jan 1, 1953

By Ronald M. Hays

During the twentieth century the Mesabi Range in northeastern Minnesota has been the major source of iron ore for American steel mills. The Mesabi Range extends along an iron bearing outcrop known as the Biwabik formation. This outcrop is some 120 miles long and up to three miles wide. The formation is from 200 to 650 feet thick and dips 5 to 10 degrees to the southeast. The iron content of the original Biwabik formation was quite uniform, but much of this formation has been subjected to alteration. Thus major variations in iron content and mineral composition exist both laterally and vertically in the present Biwabik formation. The remaining unaltered iron formation includes the magnetic taconites which are commercially processed by Reserve Mining, Erie Mining, Eveleth Taconite, National Steel, Butler Taconite, and U.S. Steel. These six operations have a capacity of 32 million tons. per year of iron pellets and have produced approximately 170 million tons of pellets since 1956. Capacity for another 30 million tons per year of pellets is being considered by the industry for the next ten years. This increase will be obtained by construction of new plants and expansion of present operations. Thus by 1977, it is estimated that approximately 60 million tons per year of iron pellets will be produced from magnetic taconite on the Mesabi Range. The portions of the Biwabik formation subjected to intense alteration resulted in the direct shipping, wash and heavy media ores. Since 1892, 1.8 billion tons of direct shipping ore have been shipped from the Mesabi Range. This ore has been the major source of iron for American steel mills. In 1966, 12 million tons of direct shipping ore and 18 million tons of wash, jig, heavy media and other gravity concentrates were shipped from the Mesabi Range. These products generally have poorer physical and chemical properties than the iron pellets produced from magnetic taconite. It is predicted that the shipment of these materials will decrease from about 30 million tons in 1966 to 6 to 8 million tons in 1975. This decrease will be due to depletion of reserves and poor quality product.

Jan 1, 1968

By T McConachy

New opportunities for miners are beginning to appear through new discoveries, improved knowledge and access to vast unexplored areas of the deep sea and continental shelf. Recent discoveries of undersea hydrothermal deposits show evidence of high-grade mineralisation, although in many instances the extent of the resource is still unknown. The promise and the difficulties of undersea mining have been evident since attempts were first made to mine manganese nodules in the 1960s. The physical nature of the undersea resource is a key influence on its mining potential; and environmental issues will also become increasingly important. This paper explores these issues and concludes with a description of the immediate to medium term applied research required to develop this industry and the spin off that such research can provide.

Jan 1, 2000

By O. T. Konina, V. A. Masloboev, A. V. Svetlov, E. A. Krasavtseva, D. V. Makarov, A. A. Goryachev

Dusting phenomena have been examined at the tailings storage facility of Apatit JSC Kirovsk, a mining operation located in the far north of the Russian Federation. The material composition of the tailings was identified. Existing dust suppression methods were examined. Field observations were undertaken and official data was obtained from the Murmansk Administration for Hydrometeorology and Environmental Monitoring, and analysed. A database was built for forecasting dusting according to critical scenarios in order to estimate the peak MPCs of suspended solids in the atmospheric air. Mitigation measures were formulated and recommended to the mining operation. Keywords: Mineral dust particles, apatite-nepheline ore concentration tailings, suspended solids MPC, climate change

Jan 1, 2020

By E. M. Wise

IN a previous communications the improvement in strength, harden-ability and color, occasioned by replacing gold in a typical gold-silver-copper alloy by various amounts of platinum, or palladium, was discussed. In the present paper the results of further studies upon the constitution and the nature of the hardening transformation in these alloys are pre-sented. This research may be summarized as follows: 1. The liquidus and solidus have been determined for the alloys of the palladium and platinum series. Cooling curves were utilized for deter-mining the liquidus of the palladium alloys but this method proved unsuitable for the platinum alloys so that a, novel quenching method was utilized for the latter. Both the liquidus and solidus of the palladium alloys increase steadily with the palladium content. The liquidus of the platinum alloys increases rapidly with the platinum content, while the solidus temperature increases with the platinum content up to about 14 atomic per cent platinum, but suffers no further increase with additional increments of platinum up to 20 atomic per cent at least, owing to a peritectic reaction. 2. Palladium, and even more effectively platinum, reduces the rate of grain growth. Owing to this fact and to the increase in the solidus temperature, "overheating" does little or no damage to alloys containing reasonable quantities of these elements. This is confirmed both by tensile tests and metallographic examination. 3. The excess phase present in one of the high-platinum-content alloys has been isolated and chemically analyzed and was found to consist almost wholly of platinum, gold, and copper, evidently derived from the compound AuCu, by the partial replacement of gold by platinum.

Jan 1, 1933

By T. R. Ellis

Regulation of mineral property valuation methodology by governments and others is due to frauds, condemnation and takings, banking industry problems, and litigation. Definitions of "reserves," "resources," and "qualified person" continue to evolve, along with guidelines to the data and disclosure required to support valuations. A less recognized but vital issue relates to the regulatory acceptability of alternatives to the comparable sales method. Comparable sales generally work well for surface real estate, and sometimes for precious metal deposits, but not at all for most industrial mineral properties. Alternative methods, such as net present value, or a geoscience rating system, often provide better valuations. Yet US regulations dictate comparable sales as the preferred method. The task of convincing regulators of the inapplicability of comparable sales to mineral properties, particularly those lacking reserves, may be as important as the valuation itself.

Jan 1, 1999