Search Documents

By Derek du Preez, Andrew Hall, Timothy M. Pelech

Net Present Value (NPV) derived from Discounted Cash Flow (DCF) analysis remains the dominant metric for evaluating mining projects despite its well-documented inability to capture managerial flexibility under uncertainty. DCF assumes that all risks are perfectly priced by financial markets. This is an unlikely assumption for volatile commodity prices, geological variability, or the array of mining technical and operational risks present on all mine sites. Real Options Analysis (ROA) was developed to remedy this limitation by explicitly valuing the ability of managers to defer, expand, scale, switch, or abandon investments as new information emerges, and to capture upside and mitigate downside risks. While ROA is philosophically correct and routinely shows an uplift in project value compared with DCF, its practical application at industrial scale is severely constrained, ROA faces the reality of a combinatorial explosion in complexity of decision trees, Monte Carlo simulations and other models required when multiple interdependent or sequential options exist across numerous mining zones and time periods. The AMC Hill of Value® (HoV) process adopts the same intellectual foundation as ROA, that flexibility has economic value, but operationalizes it through a far more robust and scalable architecture. It is built on parametric relationships, rapid scheduling, and multi-objective evolutionary optimisation. HoV can evaluate millions of compound, interdependent real options in a single optimisation run, delivering resilient, adaptive strategies that preserve managerial flexibility while simultaneously optimising NPV, mine life, risk exposure, and other corporate objectives. This paper demonstrates that HoV is the practical, industrial-scale embodiment of real options thinking in mining: it discovers, ranks, and translates the most valuable real options into strategic mine plans, overcoming the scalability barriers that have prevented widespread adoption of classical ROA.

Feb 22, 2026

By D. B. Gawthrop, A. Taylor, G. St. J. Ferrott

"This paper presents data obtained as part of an investigation of the explosive properties of ammonium nitrate. During the course of the work: it was found desirable to investigate the sensitizing action of nitrostarch in mixtures of ammonium nitrate containing low percentages of this material. Data were derived as to the sensitivity to decomposition by heat and the completeness of detonation and,of detonation of straight ammonium nitrate, as compared with ammonium nitrate-nitrostrarch mixtures containing 1 to 10 per cent of nitrostarch.The ammonium nitrate was a sample of coated material obtained from the salvage of amatol shells. Its analysis was as follows:"

Feb 1, 1930

This paper is written as a supplement to that of Edwards, Baker and Knight on "The Geology of the Wonthaggi Coalfield" 1, the West Area pit being in an early developmental stage at the time of their paper. The thin seams to the west of Dudley Basin 2 had beenknown for many years but it was not until 1935 that it became necessary to work them. The West Area Pit came into production as Dudley Area Pit approached exhaustion in 1937. From available information it was estimated that early work would be in a 36in. bottom seam. The present top seam was not included in the reserves, but it was to be extracted where it proved thick enough for economical working.THE SEAMSEdwards, Baker and :Knight (1944) had insufficient information to correlate positively the West Area seams with those in the Dudley Basin. Their opinion was, however, that they were a westerly extension of the Bottom Seam. Since then the driving of the present north-east heading towards No. 4 Bench McBride Tunnel has established that the West Area seams are those worked as Bottom Seam in the Dudley Basin. West Area Top Seam is a seam that occurred above the Bottom Seam in the Dudley Basin. Only sporadic attempts have been made to work it in Central Area, because 30in. was considered an economic minimum height until recent times. This seam should not be confused with Top Seam, Dudley Basin, which lies some 300ft. above the bottom seam measures and except in isolated areas over deeper workings has been eroded away in West Area.

Jan 1, 1953

By B. Hosseini

Considering the subtractive trend of the sulfide and high-grade zinc ores in worldwide and also in Iran, Nowadays special attentions have been drawn to the extraction of zinc from its other resources such as low-grade oxide ores and secondary resources. Oxide ore of the eastern part of Mehdi-abad lead and zinc mine is silicate and has an average grade of 7% (with cut off grade of 4%). Main mineral of the Mehdi-abad ore is Hemimorphite and this mineral is associated with Goethite, Hematite, Ferrous Dolomite, and Manganese oxide mineral so that oxides of Iron, manganese and silica include almost 50% of the total ore. In this paper, the results obtained from the leaching kinetic study of the low-grade zinc oxide ore using Sulfuric acid are presented. The effects of particle size, reaction temperature, acid concentration, and solid percent on the dissolution rate have been investigated. The results obtained from the Taghochi approach showed that the zinc recovery is about 78% under the following optimized conditions: particle size: 106µm, leaching time: one hour, temperature: 45°C, acid concentration: 15% and solid percent: 15%. Kinetics study was revealed that zinc minerals leaching controlled by diffusion rate through the product layer during leaching time with the activation energy of 5 KJ/mol and compliance with the 1- (2/3. x) ? (1- x) 2/3 = k. t model. Keywords: leaching kinetics, kinetics models, sulfuric acid leaching, taguchi methods, low grade zinc ore, mehdi-abad mine

Sep 1, 2012

By Jr. Arcand

Canadian Economy ? Getting Results ???? A stronger Canadian economy ???? National debt cut ???? Taxes reduced, tax-free savings account, support for manufacturing sector ???? Assisting with infrastructure Aboriginal issues affect all Canadians ???? Aboriginal prosperity is in everyone?s interest ???? Conditions for Aboriginal success include: - Indian residential school settlement - resolving outstanding specific claims

May 1, 2008

By Carl E. Williams

During the past two years a computer program called "COPOR," Computerized Open Pit Optimization Routine, has been developed and used for mine planning of several base metal deposits. This routine utilizes a three dimensional computerized block model of an orebody, some economic parameters and operating constraints to locate the mineable or economic limits of the deposit schedule the yearly production from the mine and produce bench by bench ore reserve summaries and maps of the yearly and ultimate pit configurations. The moving cone method is used to perform these functions with a conventional block model. This model is conventional in the sense that each block is assumed to be homogenous; i.e., either ore or waste but not a mixture of the two. Due to the nature of a seam type deposit this approach is not realistic; therefore, revisions have been made to form a new version of the COPOR program. This version has been named "COALOR," Coal Optimization Routine. COALOR contains all of the power of the COPOR program but is equipped to handle the intricacies of coal seam type deposits. The deposit can be composed of a single seam or multiple seams which are horizontal or dipping at any angle. The numerous coal quality values can be incorporated to aid the optimization of the economic pit limits and yearly scheduling.

Jan 1, 1978

By W. Fergusson

This paper takes a look at the use of rubber to provide corrosion resistance and wear resistance in the mining industry. The longer life and reduced down time involved with the use of rubber are stressed, and examples are given of applications in grinding mills, skips, discharge chutes and screens.

Jan 1, 1979

By D. L. Moellenberg

Under various state laws enacted mostly within the last 20 years, reclamation requirements and standards for hard-rock mining operations have been established virtually everywhere in the western United States. Unlike the uniform and detailed coal mine reclamation requirements under the federal Surface Mining Control and Reclamation Act ( "SMCRA" ) and state programs mode led after SMCRA, the various state law hard-rock mine reclamation requirements are based upon a variety of objectives, and therefore are subject to varying standards from state to state. While the diversity of reclamation requirements complicates the determination of what reclamation measures will be required at any particular mine, there are valid reasons for this diversity. There are dozens of different commodities mined in the United States, and mining methods are different for each commodity. Local natural conditions such as climate, precipitation, geology, hydrology, and biology vary widely across the county. Site-specific conditions also affect mining and reclamation methods. Also, factors such as economics, land use, and environmental protection issues receive different priorities in different states and communities within those states. State reclamation requirements in general provide the flexibility to consider site-specific circumstances, allowing operators to design and engineer the best reclamation measures for each mining site. To the mine developer or manager, reclamation requirements must be translated into design, operational, and closure measures for mine planning. Each of these measures must then be assigned additional costs to be factored into the economic decisions for a particular mining operation. On a broader level, reclamation costs must be factored into decisions such as where to invest in exploration and mine development. The purpose of this paper is to provide a summary of the state non-coal mine reclamation requirements in twelve western states. This summary comparison may be useful as a starting point in considering how local reclamation requirements will impact potential mining costs.

Jan 1, 1994

By Je M. Oh

The U.S. Bureau of Mines is conducting research on the oxidation resistance and structural stability of Fe-(0-8)Cr-(0-16)Ni-(0-16)Mn-3.5Si-lAl alloys as potential substitutes for high-Cr stainless steels. Oxidation tests were conducted in air over the temperature range of 6000 to 9000 C for up to 1,000 h. Microstructures were analyzed at room temperature after hot rolling. The oxidation properties and the structural stability were found to be greatly affected by the Cr and Mn levels. Although substitution of Mn for Ni increased the oxidation rate, the Mn helped to stabilize the austenitic microstructure. Decreasing the Cr content or increasing the Mn content produced higher oxidation rates and earlier oxide spalling. In this study, reaction kinetics, oxide morphologies, and microstructure of the alloys were investigated using scanning electron microscopy, energy dispersive X-ray analysis, X-ray diffraction, and electron microprobe analysis.

Jan 1, 1989

By James Paone

Drillability of rocks by mechanical means is closely related to the physical properties of the respective rocks, Various approaches by previous investigators on rock drillability are presented, as well as recent techniques studied by the Bureau of Mines. The studies show drillability concepts based on (1) theoretical drilling equations derived from laboratory drilling experiments extended to field drilling results and on (2) a statistical method where multiple regression analysis is used to develop a prediction equation for drillability.

Jan 1, 1966

By Stefan K. Schwank

The paper describes the two foundation techniques - mini piles and postgrouted bored piles. The mini pile system is presented with its design and installation parameters, especially the drilling technique. Two case histories demonstrate the application under extremely limited space and traffic conditions and the required modifications of the equipment. After the description of the postgrouted bored piles and its grouting technique, the paper gives a comparison of postgrouted piles and standard piles on a large basic test in Germany. The Brooklyn Queen's Expressway, N.Y., case history shows the application of this technique after redesign of the original proposal. 1. General Increasing requirements to improve existing foundations to carry additional loads and to increase the bearing capacity of bored piles leads to two new piling techniques: the mini-pile and the post grouted bored pile.

Jan 1, 1991

By Linghu Changjin

Based on the characteristics of typical marine sedimentary phosphate rock in Guizhou, Southwest China, together with the research findings made on the surface electric properties of pure collophanites taken from different areas in pure water and under the action of collectors, a pure minerals flotation test of collophanite was conducted in this research. The differences of collophanite flotation behavior and the effects of the different pH values, varieties, and dosage of collector on flotation separation of collophanite were studied. It is suggested that that in pure water, collophanite had a negative charge within a wide pH range. The electro negativity values of collophanite increased with the addition of collectors GJBW and WF-01. When GJBW and WF-01 were used as collectors, the collophanite was depressed in acid medium, but had a good flotability in basic medium.

Sep 1, 2012

By Frédéric Flament

The aim of this paper is to present the development of a data validation software as component of a commercial mass balance package. Data reconciliation through mass balance is basically an optimization problem constrained by the law of mass conservation. As any optimization problem solved with a modern and robust software application, erroneous information or starting point will always lead to a solution, whether it is realistic or not. Moreover, good information wrongly weighted by an incorrect error model will lead to the same bad ending. In an industrial context where competition requires accurate information, data reconciliation without validation can be disastrous and calls for data validation before and after reconciliation. The challenge in automated data validation resides in the development of general theoretical solutions. Until now, none has been presented and only partial solutions are available. The development presented in this paper incorporates some of these partial solutions. The integration of human knowledge into the application paved the way to a more general solution. The combination ?theoretical validation ? human expertise? proved to be flexible and reliable enough to be integrated in a commercial data validation package. Numerous examples though industrial applications are presented. These applications demonstrate the validation of raw measurements, user support in the development of error models and validation of reconciled measurements.

May 1, 2001

By Jose R. Hernandez-Aguilar

"Three models to predict the effect of bubble size (Db) on metallurgical response were tested in a pilot-scale flotation column at Teck Highland Valley Copper mine. The column was fed with slurry collected from the Cu/Mo separation circuit. The first model was the one developed by Gorain et al. (1997), which assumes that the collection zone rate constant (kc) is inversely proportional to Db. The second model was the one proposed by Hernandez-Aguilar et al. (2010), which considers kc as an inverse square function of Db. The third model was the one developed by Yoon and Luttrell (1989) which provides expressions to describe the efficiency of particle collection (E) based on first principles. The results showed a significant bias between experimental and predicted data using the model of Gorain et al. (1997), possibly reflecting the model’s inability to explain the impact of bubble size, bubble rise velocity and flow regime on E. The model of Hernandez-Aguilar et al. (2010) well described the experimental evidence. The model of Yoon and Luttrell gave accurate and unbiased predictions. However, Yoon and Luttrell’s approach calls for a criterion to determine whether the flow regime is potential or intermediate, a subject that requires more fundamental research.INTRODUCTIONParticle collection, i.e., bubble-particle collision followed by attachment, is the basis of flotation. In a quiescent environment (such as the one observed in a column, or away from the impeller in a mechanical cell), a collision event can take place as long as the “degree of turbulence” caused by the rising bubble does not prevent particle and bubble to flow in close proximity. Upon collision, the particle slides on the bubble surface for a period of time. If the particle is hydrophobic, attachment occurs when the “sliding time” is longer than the “induction time”, which is the time required to thin and rupture the intervening liquid (usually water) film forming a three-phase contact angle. While the induction time is largely influenced by the degree of hydrophobicity of the particle, the degree of turbulence is governed by the bubble size. Generally, direct control of bubble size is not exercised by most mineral processing practitioners, in spite of its obvious importance. Studies to model the effect of bubble size on particle collection using fundamental approaches have been conducted (e.g., Anfruns and Kitchener, 1977; Webber and Paddock, 1983; Yoon and Luttrell, 1989; Dai et al., 1999). However, these models have been validated under highly idealized laboratory conditions (micro-scale experiments using single minerals and uni-sized bubbles), far from resembling those existing in practical industrial applications. Fundamental studies to interpret the effect of bubble size on particle collection in industrial environments are largely absent in the literature. Partly because of this lack of practical knowledge, many mineral processing practitioners perceive laboratory “bubble size” studies to be valuable academic exercises, but not something that can be directly applied to daily production issues."

Jan 1, 2011

W. H. PORTH, New York, N.Y.-I would like to ask what effect segregation of lead would have upon the corrosion of sheet zinc; also what effect would abnormal percentages of iron have upon the ductility of Sheet zinc? One of our difficulties seemed to be that the cells, when standing on the shelf, corroded. We have attributed this to local action in the zinc sheet. We would like to know whether the segregation of, these impurities in this sheet zinc will have any effect on the local action occur-ring in sheet zinc. Lately we have had difficulty in punching some sheet zinc, in that the sheets split in the die. The section that split seemed to have an abnormallly high percentage of cadmium and iron; would that cause it to become brittle? C. H. MATHEWSON.-Iron is one of the most unwelcome impurities when high ductility is the principal requirement in rolled zinc. High

Jan 12, 1919

By R. C. Dunne

A review of the current ?state of the art? of refractory gold treatment will be provided. This will include a global perspective of refractory processes past and present and the location of currently operating plants. Some discussion on the challenges that face the refractory gold industry will also be provided. Keywords: refractory gold treatment, flotation, roasting, pressure oxidation, bacterial oxidation, preg-robbing gold ores, fine grinding.

Sep 1, 2012

By W. K. Brinsden

In August 1965, the late Mr Alan Smith, then Mill Superintendent at Gold Mines of Kalgoorlie (GMK), Australia, asked me to investigate the planting of vegetation on the GMK slimes dams in order to ease the dust problem in urban and industrial areas-a problem that is caused largely by dust from these barren slimes dams. My early sources of information were the comprehensive papers in various issues of the Journal of The South African Institute of Mining and Metallurgy. However, the climate of Johannesburg differs from that of Kalgoorlie. The average Johannesburg rainfall, which falls mostly in summer, is 730 mm, and the average maximum summer temperature is 26°C (top 34°C). The winters are cool, the average maximum being 18°C (low -7°C). Kalgoorlie, on the other hand, receives, on average, 257 mm of sporadic rainfall, has hot dry summers with an average maximum of 35°C (top 45°C), and cool winters with an average maximum of 18°C (low -2°C). My obvious choice was to look at established trees growing on the GMK lease. A number of Athel pines were growing vigorously adjacent to the Oroya mining and geology offices and also on a nearby sand dump. The Athel pine (Tamarix aphylla), which is native to North Africa, Asia, and India, was originally introduced into Australia in 1936 by Mr Essington Lewis, then manager of BHP. His cuttings were planted in Whyalla, where some difficulty had been experienced in finding trees and shrubs that would flourish despite the district's low rainfall. In August 1965, cuttings of approximately 20 cm length and 1 cm diameter were taken from the GMK trees, stripped of leaves, and placed in jars of water in the sun. When the cuttings had sprouted both leaves and roots, they were planted in local soil in tins (about 20 cm high and 10 cm in diameter), and watered daily. In October 1965, when the new shoots were about 8 cm long, the trees were transplanted onto a lower flat section¬approximately 30 m wide, 30 m long, and 2 m high-of the Trafalgar slimes dam. No additional soil or fertilizer was used, and the trees were planted in their tins, the bases of which had been removed (the tin would eventually rust away). A few common varieties of non-prickly cactus and two native salt bush (spp Atriplex) were also planted, but did not survive, probably because of the acidity of the slime. During the summer of 1965/1966, Kalgoorlie's rainfall was 88 per cent above the average, and this probably helped the trees to survive. The moisture content was usually about 2,5 per cent from about 10 cm below the surface, and the pH value of the slime (d80 approximately 75 µm) was about 6. The trees were watered twice a week for the first four months and then left untended. By 1974 they had grown to only about 0,7 m, which indicated that their growth in slime was very slow. Other Athel pines were planted on the wall of the dam, but did not survive beyond 1974, probably because of the steep (about 500) slope and the hardness of the walls, which were initially formed by hand-shovelling of the slime as the height of the dam was raised. Five of the six Athel pines planted in 1965, which probably reached maturity (approximately 5 m in height) in 1981-16 years after being planted-have survived. In the early 1980s, waste rock had to be dumped on the dam, but the management of KMA (now KCGM) took care to ensure that the trees were not buried. Trials are being conducted on other tailings dams so that the performance of cuttings taken from the trees on Trafalgar dam can be compared with that of cuttings taken at various sites in Western Australia. It might also be worth while for an attempt to be made to strike cuttings from Trafalgar dam in pots containing different mixtures of soil and slime.

Jan 1, 1991

"The reduction works of the Boston & Montana Reduction department, near the north end of this dam is one of the reduction plants belonging to the Anaconda Copper Mining Company, the other being at Anaconda. These works employ about 1,100 men and have a capacity of about 3,800 tons of crude ore per day. This plant is now being remodeled to embody results of experiments and investigations which have been made with a view to more economic.al treatment of ores. A brief description of the plant as it will be after the remodelling is as follows:Concentrator Department: Consists of six units or sections, each section treating from 550 to 600 tons of crude ore per day. This department is not being. remodelled at the present time. A concentrating process, however, has been developed and partially installed in the old mill, and an experimental section embodying this concentration process has also been installed at the concentrator at Anaconda."

Jan 1, 1913

By A. Moergeli, Philip Sander, John J. Reilly

"Estimating and managing the costs of complex infrastructure projects – in the planning/design and construction phases, for both owners and contractors – has been a challenge for decades. The more complex and technologically advanced the project, the greater the uncertainty, including potential risks that are important to owners and contractors, such as:• Cost risks to owners – meeting budget and schedule, maintaining public credibility.• Cost risks to contractors – profit, consequences of loss, impacts to reputation/future work.This concern has been addressed in various ways by the underground construction industry for some time (Reilly, 2001). In particular, while significant advances have been made in cost estimating for the planning and design phases (Reilly et al., 2004), that are important to agencies and political decision-makers, it is not apparent that these advances have been widely adopted for construction cost estimates. The reasons for this may relate to lowbid considerations – any method that tends to increase the contractor’s cost estimate, by including risk or likely costs, could lead to an erosion of the contractor’s competitive position – if others are not similarly required to include such costs.Different cost estimating methods produce different levels of information. Specifically, there is a large difference in the character and depth of information if a deterministic (quantities times price plus a contingency) and risk-based cost methods are used. It is this difference in character and depth of information that is the reason that risk-based cost estimating has potential value for owners and contractors. Figure 1 presents hypothetical cost results from deterministic and risk-based methods and illustrates some of these differences.In Fig. 1, the results for deterministic and risk-based cost estimates are given related to the potential profit or loss for a typical project. As is evident in this example, there is significant potential for costs to be realized that are higher than the proposal/bid value estimated using a deterministic approach, with a 15 percent probability of a loss. There is a 30 percent probability that the project will have a reduced profit. There is a 55 percent probability that the project will return a good profit. Using a risk-based approach, it is possible to better recognize this potential outcome in the bid phase and, as a consequence, develop a strategy to:"

Apr 1, 2016

By N. Kyriazi

A performance study of oxygen self-rescuers from the United States and other countries was undertaken as an assessment of present worldwide technology. The apparatus were tested a an breathing and metabolic simulator in the Life Support laboratories of the Bureau of Mines. Parameters monitored during the testing were inhaled levels of C02 and 02, inhaled gas temperature, and breathing resistance. The metabolic demand placed on the apparatus represented the average demand of the 50th percentile miner performing a 60- min man-test 4, as described in 30 CFR 11H. Results presented include ;apparatus service life and subjective comments as well as averages and peaks of monitored parameters.

Jan 1, 1984