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By D. Caiden, C. S. Covil, P. J. Chamley

The paper describes the background to alternative delivery models, drawing on international experience, and introduces Project Alliancing/Contract Partnering, common risks and risk sharing on tunnel projects. A plea for early contractor involvement in design is made before describing some whole life design implications for tunnels. The paper concludes with four short case studies; Channel Tunnel Rail Link in the UK, Hull Waste Water Tunnel in the UK; Island West Sewage Transfer Station in Hong Kong, and the New Southern Railway in Australia.

Jan 1, 2005

By Michael Feroz

Severe drought in the Colorado River Basin over the past 10 years has caused water levels to drop in Lake Mead by more than 113 feet. The current lake level is at elevation 1,112 feet mean sea level (msl). Lake Mead is the primary source of water supply for greater Las Vegas. Water for Las Vegas from Lake Mead is accessed through two existing submerged intake shaft and tunnel systems. If the water levels continue to drop in the lake, the Intake No. 1 will become inoperable below water level elevation of 1,050 feet msl. To sustain the current levels of water delivery to all member agen-cies in the southern Nevada region, the Southern Nevada Water Authority (SNWA) has decided to construct a third intake at a deeper depth in the lake to ensure better quality water and enhanced reliability.

By D. M. Slavich

"In today's operating and investment climate, project evaluation is both more important and more difficult. It is more important because economic and financial analyses of a proposed project provide a basis for judgment of a project's commercial viability by equity participants, lenders and, in some cases, other participants such as off takers and governments. It is more difficult because these analyses must, of necessity, be based on estimates, projections and evaluations which must be made in a period remarkable for its economic and political uncertainty.Project evaluation starts with the analysis of the engineering, commercial and financial information available. Beginning with the preliminary design and capital cost estimates, alternative financing plans can be developed outlining possible sources of funds, terms and security arrangements. Pro-forma financial statements can also be developed, including sources and uses of funds, cash flow schedules, income statements and balance sheets. With these results, various profitability measures can be determined.Subsequently, in an effort to deal with uncertainty, these results can be tested by measuring the impact on project viability and profitability of changes in project and external variables such as product process, mining and processing rates, operating and financing costs, currency exchange rates and other factors.The results are a number of financial projections reflecting different assumptions for key project parameters. The projections can be used to structure the project to achieve the maximum financial performance. Projects, the financial viability and profitability of which can be demonstrated under varying market conditions, will be the most competitive in capital markets."

Jan 1, 1982

By John A. Wells, Leticia Conca, Kenneth G. Thomas

"Since about 2002 there has been significant capital cost escalation, not inflation, in the mining industry causing turmoil for successful project completion. Project capital costs have more than doubled and some cases tripled in this time period. This has rendered many projects to be economically challenged and in some cases not viable. In addition higher than expected operating costs have further adversely affected project metrics such as NPV and IRR. Capital cost increases for projects have been widely reported globally. This current paper reviews three items. Firstly, why such capital increases and the various components that make up capital estimates. Secondly, it looks at reasons why preliminary estimates, for example at scoping and pre-feasibility level, have been lower than the ultimate constructed costs. Such increases and differences in estimates have caused major problems for mine builders and have led to a general nervousness on the part of those providing project finance. Thirdly, what discipline is needed in project execution in an attempt to mitigate such capital increases. The paper will hopefully give a better understanding of the various issues and factors involved for those in the mining industry.INTRODUCTION The years 2012 and 2013 were a turbulent time for the mining industry. The European economic crisis, politics, metal price volatility and a wave of changes of CEO´s in some of the major mining companies all contributed to a challenging couple of years. Two issues stood out. First, the huge increases reported in the capital costs of projects, where increases of 100% - 300% were not uncommon and in some cases exceeded that during the first decade of the 21st century. Second, company write downs related to takeovers during the boom and the stabilization/correction in commodity prices. These have led to great uncertainty, made it difficult (or impossible) to raise project financing costs, contributed to the changes at CEO level and placed many projects either on hold or cancelled altogether. It is commonplace now to read of companies talking of reduced capital expenditure and making a complete review of their projects and operations to contain costs."

Jan 1, 2014

By D Macdougall, J Otto

The financing of large mining projects in developing countries is often achieved, at least in part, by limited-recourse financing methods. Financing agreements are affected by the basic accord that is struck between the host government and the sponsors of the project. It is concluded that governments and project sponsors should take into account the requirements of lenders when structuring such mineral development agreements to maximise the potential for attracting project financing. Lenders are likely to be most interested in aspects such as fiscal arrangements, calculation of taxable income and general accounting rules, royalties, transferability of payments/dividends overseas, corporate structure and control, staged development, financing, loan support and state guarantees/approvals, political risk, provisions for default, product marketing, settlement of disputes and environmental issues

Aug 1, 1994

By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985

By R. J. Hickson

From 1993 through 1999 Cyprus Amax Minerals Company successfully completed eight major construction projects around the world. Six greenfield mines were brought into production, an ongoing operation was completely modernized, and an environmental issue was appropriately remediated. The projects stretched over three continents, from arctic Russia to the Atacama Desert, from 16,000feet to sea level, from city suburbs to remote wilderness, from a low of $130 million to over $1 billion. Open pit and underground; mill and leach; gold, copper, molybdenum, and coal were all encompassed. The breadth of diversity experience from these projects inspired Cyprus Amax to create a “best practices” project management protocol, to steer corporate expansion into the next millenium. This paper summarizes those best practices, while high-lighting project management pitfalls to avoid.

Jan 1, 2000

By C Johnstone

Project management is not a task to be undertaken lightly. Mining projects generally present even more challenges due to ChinaÆs remoteness and complexity. Having experiences in project management in the West is certainly an asset, but China can present the uninitiated with any number of headaches. To undertake a project there can have many problems that are unique to China. For the last 15 years, China has seen an increasing number of foreign capital investment projects in the mining industry. Practices involved in mining project development have experienced/are experiencing an evolution. Since 1996, Sino Gold Mining Ltd has delivered three mines in China, ie Jianchaling Gold Mine, Jinfeng Gold Mine and White Mountain Gold Mine. Through the work, Sino Gold has established a solid knowledge base and a capable and skilful workforce in effectively undertaking mining projects in China. This paper is concerned with the experiences accumulated so far by Sino Gold in project management in China. An overall review is conducted regarding the reform of the mining project development in China. Opportunities and challenges are highlighted within the political, economic and culture context. Brief summaries of the development of the three gold mines are presented.

Jan 1, 2009

Paper written on project work carried out in partial fulfilment of BSc Engineering (Mining) The aim of this project is to determine whether certain pillars occurring within the no. 1 shaft and no. 2 sub-shaft ground are feasible for extraction. The extraction of these pillars is essential in prolonging the life of Kloof Main Shaft as its VCR resource becomes depleted. Extraction of these pillars will require a combination of designs and factors, with rock mechanics and ventilation being the main considerations. Primarily for the pillar extraction, an initial production target of150 kg gold, mine able in one year from commencement of ?opening up? was set. The planned target has been exceeded and the feasible pillars identified are expected to yield an additional 1 390 kg of gold to the shaft?s production profile. However, not all the required ventilation designs have been completed to date, the reason being that at the time of the project, many of the pillar areas were inaccessible and thus ventilation conditions are unknown. This project is therefore an ongoing process and will require further design once all targeted pillar areas have been opened up. A preliminary costing analysis of the pillar mining was performed and it was found that all targeted pillars with the exception of 38?61 pillar are profitable.

Jan 1, 2005

By S. Vujic

The exploitation of stone (trachyte) at the ?Srebro? open pit mine, located on the northern slopes of the Fru?ka Gora National Park (Serbia) central area begun in 1964. Stone exploitation in this locality does not endanger the environment in an ecological sense, does not pose a threat to plants and animals, and apart from the terrain configuration changes, it did not leave behind permanent consequences to the environment. Projects for permanent cessation of mining operations and for land reclamation and spatial arrangement were completed in these circumstances. The paper gives a short review of the condition at the open pit mine; furthermore, the key problems and basic demands are presented, together with a concept of technical and biological land reclamation and the spatial arrangement of the mining complex. Keywords Open pit mine, land reclamation, spatial planning, spatial arrangement, National Park, Fru?ka Gora, Srebro.

Jan 1, 2011

By Steve Thoman

After the 1989 Loma Prieta Earthquake, the California Department of Transportation (Caltrans) initiated an overview of the Caltrans Bridge Design Specifications (BDS) and bridge seismic design practice in California. This overview is continuing under the direction of the Applied Technologies Council (ATC-32), to review and revise as necessary existing standards, performance criteria, specifications, and practices for design and construction of new bridge structures within California. The ATC-32 project began in August 1991 and is expected to be completed in 1995. Since 1990, Caltrans project-specific seismic criteria have been developed and implemented on the I-280 and I-480 projects in San Francisco. Caltrans and an independent seismic safety review panel continue to develop and implement these criteria on other projects. In 1991 and 1992, project-specific seismic criteria were used on the I-880 reconstruction project in Oakland. The seismic safety review panel considered the I-880 seismic design criteria a state-of-the-art methodology to ensure seismic safety against collapse of bridge structures subjected to a maximum credible seismic event. This paper highlights the 1992 "I-880 Reconstruction Project Seismic Design Criteria Review" report prepared by the Seismic Safety Review Panel and Caltrans Division of Structures and will compare pre-1989 BDS and AASHTO methodologies to the I-880 criteria.

Jan 1, 1996

Project Sustainability Assessment - Matching Method to Enterprise Size Sustainable development requires managing natural resources, including minerals, in a way that is conducive to long-term wealth creation and the maintenance of capital (natural, social, human, economic and physical). One aspect of the minerals sustainability discussion focuses on replacing depleted mineral capital with other forms of capital so as to ensure that the contribution of a mineral project is net positive over its life. Another, equally important, aspect focuses on selection of projects and technologies that contribute to the achievement of a variety of sustainability objectives, such as environmental protection, efficient use of resources, water and energy, worker health and safety, and the equitable distribution of risks and benefits within and across generations. Technical feasibility and relative economic performance remain necessary decision criteria for mineral investment decisions, but they are no longer sufficient. Enterprises, regardless of size, are now confronted with the challenge of comparing investment alternatives based on a new, broader set of criteria. The field of integrated sustainability assessment (ISA) emerged in response to this changed social and business environment. ISA is a structured process for examining the economic, social and environmental impacts of a project or technology. The purpose of an assessment can be broad, a strategic review of corporate behavior for example, or quite narrow, input to a specific decision process such as the selection of a piece of equipment. There are numerous methods and analytical tools available to conduct ISAs and selection of the most appropriate for a given situation will depend upon temporal focus (retrospective to prospective), decision context (strategic, tactical or operational), and phase of the assessment process (problem structuring, analysis, resolution, ex post review), among others. Selection also depends upon enterprise size and the attendant availability of financial and human resources. Large multi-national firms often undertake complex, data intensive sustainability assessments, in part because the projects they are involved in are multi-faceted, long term, and require significant financial investments. Small and medium sized enterprises are seldom able to commit the same level of resources to an ISA, and if the projects they undertake are less complicated, a time consuming and detailed assessment may be unnecessary. Regardless of enterprise size, the tangible and reputational benefits of conducting as ISA must exceed the actual monetary cost of doing so. This presentation will provide an overview of available ISA tools, categorising them in terms of their data requirements, methodology, outputs and applicability in various decisions contexts. Distinction will be drawn between situations where reasonable approximations of project impacts can be expected to provide an adequate amount of information and those for which more detailed analysis is essential. Finally, ISA strategies that have been successful and cost effective at different scales of business enterprise will be identified. This is an abstract only. No full paper was prepared for this presentation.

Sep 13, 2010

By G. L. Smith

Central to the success of any mining company is the ability to manage capital investment effectively so as to ensure acceptable stakeholder returns within an overall strategic context. Critical to this process is the effective selection and implementation of a strategically aligned project portfolio that enables optimal resource exploitation while operating within mandated bounds and identified constraints. Consideration is given to the strategic long-term planning process, an investment prioritization methodology and specific tools and techniques based on the discounted cash flow philosophy.

Jan 1, 2007

By Ethan Steward, Kyle Perry

Underground coal mines have several dangers, one the most hazardous of which is the possibility of an explosion caused by the ignition of methane gas. To reduce ventilation costs, coal mines have the option to close off abandoned areas that are no longer active with structural seals to keep an explosion from propagating into working areas of the mine. These seals must be designed to withstand different pressure levels based on the potential of the atmosphere behind the seal to become explosive, either 50 psi (345 kPa) for inert atmospheres, 120 psi (827 kPa) for non-inert, and over 120 psi (827 kPa) for special cases. Though seals have been designed to resist the overpressure, none have been evaluated for their resistance to the impact of heavy objects. Underground explosions produce high velocity gasses that, traveling through mine openings, may propel objects in the mine at a high velocity causing them to impact and damage the mine seals. Seals damaged in this manner may no longer hold the pressure they were originally rated for and may fail during subsequent explosions or leak explosive gasses into active workings. To test the effects of impact on mine seals, a projectile generator and two seals have been constructed. The projectile generator is a 12-inch (30.5 cm) inner diameter steel pipe with a 4-inch (10 cm) wall, is 8.5 feet (2.6 m) in length, and sealed on one end. Projectiles are propelled by a charge of black powder with a wooden wad and are held in place by foam sabots in the bore. This system, combined with the large bore, allows firing of many different potential projectiles that may be found in an underground mine at a high velocity into the seals. The velocity of each projectile is measured by an infrared chronometer which can later be used to determine its impact energy. Impact effects on the seals are measured using strain gauges, LIDAR scans before and after impact, high speed cameras, and visual inspection. The focus of this paper is on the projectile generator design and initial testing.

By E. Iasillo, R. R. Carneiro

Independent of the method chosen to forecast production, an accurate method to project metal extraction is needed in order to accommodate leach cycles that exceed leach data on hand and thus be able to accurately forecast production. Metal extraction data must be developed for each ore type identified in the deposit in order to apply the correct rate of leaching when a specific ore is being treated. Curve fitting is used to model the rate of disengagement of metal into the pregnant solution. This paper provides a description of a curve fitting algorithm developed by Mr. John T. Bartlett, inventor of the METSIM™ process simulation program. A methodology is provided by which the metallurgical data developed is evaluated to determine if accurate projections may be made from the data. A criteria has been developed to help determine when a column experiment may be terminated.

Jan 1, 2001

By R. W. Shoenberger, J. E. McNulty, B. R. Kuchta, William Spackman, A. A. Terchick, M. E. Hopkins, Norman Schapiro, R. J. Gray, A. F. Duzy, M. P. Corriveau

INTRODUCTION * The United States is fortunate in having abundant reserves of metallurgical-grade coals. Although these coals are better in quality and more accessible than most metallurgical-grade coals found throughout the rest of the world, the best grades of these coals are being depleted. Consequently, more efficient exploration tools and techniques, such as advanced methods of core drilling and logging, correlation by petrography, paleontology, palynology, † physical stratigraphy, and geophysical methods are being used to help assess the extent and quality of the remaining coal reserves. Exploration and assessment of new and existing coal properties become of utmost importance in determining ( 1 ) the economic justification for mining the coal, (2) the optimum design of the preparation plant, and (3) the most effective use of the coal. Recent progress has been made in relating mineral matter, especially pyrite, in coal to geologic conditions and paleogeographic trends. l * Editor's note: Because of the numerous and varied contributions of the associate authors of this chapter, the text does not differentiate between sections prepared by each individual as has been done in other chapters. † Palynology is the science concerned with plant microfossils, especially spores. pollen. and other fossils of microscopic size.

Jan 1, 1979

By Francis Perron

The Directive 019 on mineral industry, which was officially adopted in 1989, is the main tool used by the Quebec Ministry of Environment for the environmental evaluation and control of mineral exploitation projects presented for approval. This document contain the environmental guidelines which must be met by all the mineral companies during and after exploitation. The Directive 019 also contain all the information required by the Quebec Ministry of Environment in order to fully analyse the environmental impacts caused by the mineral projects proposed to the Ministry for approval. The proposed modifications of the Directive 019 cover many new topics that were not addressed in prior editions, these include : water recirculation, groundwater protection, tailings management and post exploitation environmental controls.

Nov 1, 2002

Geology grads mine heated job market Salaries up 44 per cent in three years ?[Geology student] passed up a $100,000-a-year job at a mining company last December when he finished his degree in geology. The 24-year-old Canadian said he?s confident he?ll get a better offer.? Rob Delaney and Stewart Bailey, Calgary Herald, Published: Saturday, March 15, 2008 Massive shortages across the mining industry > Trades and operators are a large component > Technical people are equally hard to find > Students are in an excellent positions to secure exciting jobs > Experience is at a premium. Why?

May 1, 2008

Promoters for Soap Flotation of Phosphate Minerals

Sep 13, 2010

By C. Anim-Sackey, R. K. Amankwah

Some large-scale mining companies in Ghana have adopted proactive management strategies in dealing with small-scale (galamsey) miners who have encroached on their concessions. This has been mainly achieved by ceding portions of the concessions held by the companies to the Minerals Commission of Ghana for licensing to the small-scale miners. This development has created an amicable relationship between the mining companies concerned and the galamsey miners in their host community. Ghana’s small-scale gold and diamond industry The small-scale gold and diamond mining industry in Ghana has existed for many centuries as an informal sector. Since the regularization of the activities of small-scale mining in 1989, two types of small-scale miners have emerged — legal and illegal.

Jan 1, 2004