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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 M. K. McMullen

Mineral Development Agreements (MDA?s) are a cooperative mechanism in Canada by which the federal and individual provincial governments can coordinate their scientific, techno- logical and market development resources in order to implement measures designed to stimulate mineral exploration and development by the private sector; the objective, ultimately, being to increase the mineral industry?s contribution to provincial economies. In the latest round of MDA?s, which was initiated in 1984, a significant number of planned activities relate to industrial minerals. This paper will describe the nature and importance of MDA's in Canada and will outline the wide range of activities taking place with respect to industrial minerals.

Jan 1, 1987

By Osvaldo A. Bascur

Standards and Technology for bringing information at the desktop has greatly evolved in recent years. The benefits to be realized depend on how these new tools are embraced at the performer level. A key operating challenge is to ensure collective effort is geared towards the most efficient achievement of identified operating and corporate objectives. Presentation, application and data repository modular software are emerging in successful client server applications. The industrial desktop emerges as the new tool for continuous improvement and innovation in industrial operations. Here, process information, reliability maintenance, process simulation, production schedules, performance monitoring are integrated using Microsoft enabling tools at the desktop. A workflow model is presented to assist in implementing a strategic information system in metallurgical plants.

Jan 1, 1996

By R. Mensah-Biney

The aqueous biphase separation process (ABS) has been used to separate ultrafine industrial minerals. The partition behavior of TiO2, Al2O3, Fe2O3 and kaolin was not pH dependent. The partition behavior of SiO2 was, however, pH dependent. The partition coefficient of kaolin in PEG 3400/ Na2CO3 biphase system was = 150 and that of the silica in the same system was = 0.02, resulting in a separation factor of = 8500 between kaolin and silica. The aqueous biphase separation system was used to separate free silica from kaolin in a raw clay sample from Mexico. The partition behavior of mica, feldspar and clay from North Carolina was also evaluated.

Jan 1, 1999

By Stanley M. Jarrett

Gentlemen, I am pleased to address this gathering of engineers and operation managers representing a large and important segment of the metal and nonmetallic mining industry. Since you know from the printed program that the theme of my paper is the furthering of safety in open pit mines, perhaps you will have guessed that I will also comment upon the image created in the public mind by the industry's safety record and the potential consequences thereof in national health and safety legislation. Operators of surface mines have some cause to congratulate themselves on the basis of figures issued by the national safety council which show that lost-time accidents per-million-man-hours in surface mining (11.18), is lower than that of all other mining. Moreover, the accident frequency in surface mining is only slightly above the median accident rate for all American industry (8.87). That is a good record.

Jan 1, 1972

By C. Arthur Lefler

The Smoky Valley Mine is jointly owned by Louisiana Land and Exploration Company, Felmont Oil Corporation and Case Pomeroy Company. Copper Range Company, a subsidiary of L.L. & E. is the operator of the mine. The mine is located about 60 miles (100 km) north of Tonopah, Nevada on Highway 376 (formerly 8A) in the Big Smoky Valley on the western flank of the Toquima Mountain Range In the shadow of Mount Jefferson. The mine is at an elevation of about 6100 ft. (1860m) and is situated on the southwestern flank of Round Mountain, the hill for which the town of Round Mountain is named. The ore is a rhyolitic iglmbrite with coarse gold occurring along fractures and with fine microscopic gold disseminated in the rock mass. Minor silver is associated nth gold. Annual mining is planned at 5.8 million tons (5.3 million tonnes) per year with 2.2 million tons (2 million tonnes) as ore (7,000 tons or 6,400 tonnes per day).

Jan 1, 1981

By Lauren M. Roberts, Ralph R. Sacrison

The Meikle Mine uses long-hole open stoping and cut-and-fill methods with backfill as the primary ground support technique. The mine operates at 2,858 tonnes per day (3,150 tpd) and has sustained operation in excess of 3,175 tonnes per day (3,500 tpd). Consistent backfill production is critical in achieving these mining rates. The heart of the system is a 7.65 cubic meter (10-cyd) horizontal shaft ribbon mixer located 328 m (1,075 ft) underground. System control is through several PLC's, allowing for a high degree of automation and process flexibility. Aggregate feed is routed 257 m (842 A) through vertical drop pipes in the ventilation shaft, a rockbox, transfer raises, and then into either of two raisebored storage silos. The aggregate is crushed mine waste, nominally 70% 3.8 cm x 1.0 cm (1-1/2"x 3/8") and 30% -1.0 cm (- 3/8"). The binder is routed through a vertical borehole, surge bins, and transfer raises. The binder is a mixture of Type II cement and fly ash. Two primary manufactured fill designs are produced: a high strength mix for stopes which will be undercut; and a low strength mix for stopes with only rib exposure. The high strength target is 5.5 Mpa (800psi) unconfined compressive strength in test cylinders. The low strength target is 2.8 Mpa (400 psi). The systim has allowed consistent achievement of these targets, while experience has allowed reduced costs and increased efficiencies. Fill placement is through 6.1 cubic meter (8 cyd) LHD's dumping into stopes. Specific sills and cut-and-fill drifts are jammed to the back. System enhancements have included colloidal mixers for cemented waste slurry placement and transfer raises for sending manufactured fill to the lower levels of the mine.

Jan 1, 2001

By Gary W. Hudiburgh

The gangue in some magnetite ore bodies contains feldspar; the alkali content of the feldspar reduces the usefulness of these iron ores. One method of decreasing the feldspar content in magnetite concentrate is froth flotation. The amine flotation of feldspar from magnetite concentrate was investigated using zeta potential measurements, Hallimond tube flotation tests and laboratory-scale flotation tests. The zeta potential of various feldspars (microcline, albite, anorthite, oliqoclase and anorthoclase) were determined as a function of pH; the point of zero charge ranged from pH 1.4 to 2.5. Hallimond tube flotation tests using two amine reagents were conducted on the feldspars. Hallimond tube flotation tests using six amine flotation reagents were performed on the cobber tails (quartz, albite and microcline) from a magnetite concentrating plant; in all cases, over 85 percent flotation recovery was obtained at pH 8 and 10-5 to 10-4 [M] collector addition. Laboratory-scale (667 grams) flotation tests were performed on the magnetite concentrate in an attempt to float the feldspar which had reported to the concentrate. The effects of three different collectors, two levels of collector concentration, three pH levels, starch and HF acid were investigated.

Jan 1, 1975

By C. Frenzel

Tunnel boring machines (TBM) utilize disc cutters as the primary means for excavating hard rock. Depending on rock excavatability and rock abrasivity disc cutters can exhibit significant wear. A detailed analysis has been carried out to characterize failure modes and wear patterns of disc cutters. The relationship between rock properties, op-eration of the TBM, and failure modes of cutting tools is clearly high-lighted. On that basis a prediction tool for disc cutter consumption has been developed that allows to estimate not only gross cutter life, but accounts for cutterhead design, premature cutter changes, and disc cutter repair costs.

Jan 1, 2011

By Mark C. Williams, Shunsuke Managi, Noriko Hikosaka Behling

Particle processing is a key to using solid particles in fuel cell applications. Selectivity with regard to reactivity, impurities, etc. is an important feature and the treatment of particle surfaces could greatly impact the performance of direct carbon fuel cells. Solid fuel particles will become increasingly important in the future. Present energy conversion systems for solid fuels are too inefficient. New energy conversion systems for solid fuels with higher energy conversion efficiencies are possible. Fuel cell technology is a key technology in these new conversion systems. The direct carbon fuel cell (DCFC) operates on carbon particles obtained from a variety of solid fuel feedstocks. The DCFC is the only fuel cell designed to directly oxidize carbon particles in a special anode chamber. The particles are generally graphite structure with high purity. The electrolyte used is the high temperature solid oxide, molten carbonate, or hydroxide electrolyte. Since a pure stream of CO2 is produced, the stream can easily be sequestered and disposed. Pure carbon dioxide produced as a by-product would also have a market in many industries. A well-defined technology roadmap identifying key research and development (R&D) issues is necessary to provide a framework for the development of these systems and to prevent entrenchment in inherently inefficient technologies. This review paper describes the direct carbon fuel cell and its system, how it works, the developmental status, the characteristics of the carbon particles needed, and the research and development issues for the technology

By Steve Kral

As the mining industry watches commodity prices continue to soar, the question on most everyone’s mind is how long will this upcycle last. The con-census among speakers and attendees at the SME Annual Meeting and Exhibit is that this cycle is sustainable. The buzz at the meeting was, of course, the current boom cycle the industry is in. Most agree that China’s huge appetite for mineral commodities is part of the force driving the upturn. But the improving economies of other developing nations also plays a role. However, along with the good times come challenges. Speakers at the keynote session addressed some of the challenges and offered their opinions on the sustainability of the boom.

Jan 1, 2006

By D. P. Patil, B. K. Parekh

Water is the mainstay for beneficiation of fine size coal and minerals; however, it is also the least desirable constituent in the final product. The basic concept of the novel process described in this paper is based on the differential surface heat conduction/ absorption capacity of individual particles, which differs for different species of minerals. When a mixture of fine material is exposed to a radiant energy source, the various solids present in the mixture will absorb heat energy depending on their heat-conducting properties and there will be a difference in the surface temperature of the particles. When this differentially heated solid mixture is placed on a moving belt, which is coated with a low temperature melting resin, the hotter component of the mixture will stick to the belt and relatively cooler particles will stay free on the belt and fall off at the end of the belt run. Experiments were conducted with pyrite, coal, and quartz of 6 × 18 mesh particle size. The goal of the test program was to find the optimum conditions at which there exists a required temperature difference between minerals and coal particles by controlling the operating system variables. Preliminary tests results showed that there is a potential for separating mineral matter from coal using the thermo-adhesive separation technique.

Jan 6, 2022

By J. D. Miller, C. L. Lin

From mine to mill, the 3D characterization of particles ranging in size from meters to micrometers is now possible. A brief review of X-ray tomography for mineral processing is given with recent advances considered, such as high-speed scanning and image analysis procedures to describe important particle properties, including size, shape and composition. Considering these new 3D characterization tools, applications in mineral processing are discussed for high-resolution X-ray microtomography (HRXMT) laboratory analysis of particles ranging from 20 mm to 5 μm, with a voxel resolution of about 1 μm, including (1) multiphase particle characterization by HRXMT and comparison with scanning electron microscopy (SEM), (2) particle damage state as a result of blasting/comminution, (3) liberation characterization to describe expected separation efficiency, (4) exposed grain surface area analysis to explain the flotation of locked particles, and (5) floc size, shape and water content for polymer-induced flocculation. Finally, applications in mineral processing for plant-site analysis using high-speed X-ray computed tomography (HSXCT) are examined, including, for example, coal washability analysis, the analysis of crusher plant products, and the analysis of pebble phosphate products from central Florida. Scanning rates on the order of 1 kg/min for particle sizes ranging from 150 mm to 1 mm are possible, with a voxel resolution of about 100 μm. For coarse particles smaller than 5 to 10 mm, high scanning rates of more than 300 t/h may be possible at a voxel resolution of about 1 mm.

By C. Dirscherl

"Declining ore grade, leading to increased material transport and plant throughput requirements, is one of the major challenges in the current mining environment. This is accompanied by rising energy and labor costs, decreasing plant productivity and the requirement for highest plant availability. Siemens’ answer is the latest gearless drive technology for grinding and conveying. Gearless drive solutions are surpassing the mechanical limits of conventional drive systems serving to utilize the principle of economies of scale. By elimination of various components of the drive train the maintenance activities and spare parts inventories are reduced. The advantages are culminating in the incomparable availability of the Siemens’ gearless drive technology of 99.46 to 99.71% - as confirmed by real operational data from the Antapaccay mine in Peru. It was the first plant worldwide to use gearless drives for both applications. KEYWORDS: Gearless Mill Drives, Gearless Conveyor Drives, Availability, SAG Mill, Ball Mill, Overland Conveyor, Antapaccay INTRODUCTION – THE GEARLESS PRINCIPLE The principle idea behind a gearless drive system is to reduce the number of components and diversity of parts. Especially those components that are at the edge of current manufacturing or power limits are eliminated. The used equipment provides the possibility to scale up and increase the power transmitted to the driven machine. This finally results in a possible increase of throughput respectively transported or processed material. In order to apply this principle of simplification we will take a look at the components of a conventional drive system consisting of: - Driven equipment (mill, conveyor, slurry pump…) - Components altering the rated speed (gearboxes, girth gear / pinion) - The electric motor - Starting devices for the motor (VSD, CCV, LRS, clutch…), which are necessary because a direct across-the-line start of high power motors with load would result in a significant drop in the line supply voltage - Alternatively a variable speed drive (VSD) or cycloconverter (CCV) to utilize the possibility of speed variation during operation - The electrical supply system (cables, switchgear, transformers, protection equipment) Intermediate gearboxes are not required when a motor is used with a rated speed that directly matches the speed requirement of the driven equipment. Furthermore the VSD can be used to smoothly start the motor and to vary speed during operation, which means that it satisfies both requirements."

Jan 1, 2015

By D. K. Jorgensen

The Bullfrog and Montgomery-Shoshone deposits, near Beatty, NV, have a combined drill-indicated reserve of 15.8 Mt (17.4 million st) of ore. Average grade is 3.5 g/t (0.103 oz per st) gold and 8.2 g/t (0.24 oz per st) silver. The deposits occur in Miocene volcanic rocks that underwent large-scale movement within a detachment-faulted terrane. The principal host to gold mineralization is a strongly welded rhyolitic tuff that experienced brittle deformation during plate movement. Open space fractures and breccia were filled with quartz, calcite, and adularia accompanied by lesser pyrite, gold, and acanthite. Gold occurs as micrometer-sized particles within and adjacent to the low-angle fault and along associated listric-normal and tear faults. The Bullfrog and Montgomery-Shoshone are volcanic-hosted, detachment fault-related, epithermal quartz calcite stockwork gold deposits. Bullfrog's minable reserve is 13 Mt (14.3 million st) of ore grading 3.8 g/t (0.11 oz per st) of gold. At Montgomery-Shoshone, 2.7 Mt (3 million st) minable tons at 2.5 g/t (0.072 oz per st) are present. Preproduction stripping has begun at the Bullfrog ore body. A 7.7-kt/d (8500-stpd) carbon-in-pulp (CIP) mill is under construction. In 1990, Bond Gold expects to be producing about 6.2 t/a (200,000 oz per year) of gold.

Jan 1, 1990

By D. Scott Scovira, Thomas Gustavsson

Exiting WW2, the potential of nitrates and hydrogen peroxide for application as industrial explosives both became known. The technology stream advanced the development and uptake of nitrate-based explosives to the point that they are the current global standard for blasting. Recently environmental issues are influencing the strategic agenda of extractive industries. The mid-2010s saw renewed interest in hydrogen peroxide explosives to eliminate NOx fume. Carbon reduction initiatives in the 2020s provided additional impetus to investigate hydrogen peroxide-based explosives. Hypex Bio is at the forefront of developing and delivering bulk gas sensitized Hydrogen Peroxide Emulsion (HPE) for blasting. HPE consists of hydrogen peroxide along with smaller amounts of fuel and emulsifier. The consistency of HPE is similar to industry- standard nitrate-based emulsions. It is compatible with existing priming and initiation systems. HPE does not contain nitrates and thereby does not produce post blast nitrous oxide fumes nor discharge of nitrates or ammonia to mine water. Importantly, HPE contributes to reduction in total carbon emissions as compared to nitrate-based explosives.

Feb 1, 2025

By Zong‑yu Li, Shao‑jian Ma, Xiao‑jing Yang, Jin‑lin Yang, Xing‑nan Huo, Heng‑jun Li

Optimizing and adjusting the particle size composition of grinding products is of great significance for improving economic benefits and resource recovery and utilization. In this study, grinding contribution and quantitative separation of impact and grinding mechanism in cylindrical mill were creatively researched, and the grinding technical efficiency of impact and grinding was coupled to the grinding technical efficiency of grinding in drop-off mode. The results showed that the contribution rate of impact and grinding in grinding in drop-off mode varied with the grinding time. On the whole, the contribution rate of impact action increases with the grinding time and gradually becomes stable, and the contribution rate of grinding effect was just the opposite. Under the experimental conditions, the main contribution of the grinding process is impact action, and the contribution of grinding action is auxiliary. In addition, the contribution rate of impact and grinding effect in grinding in drop-off mode was also related to the feed particle size. The contribution rate of impact effect decreased with the decrease of feed particle size, while the contribution rate of grinding increased inversely.

Aug 3, 2023

By Hamid Mazouz, Mohammed Hakkar, Rim Jouraiphy, Fatima Ezzahra Arhouni, Ahmed Mahrou, Aziz Boukhair, Mohammed Fahad

The wet process is the most commonly used worldwide for phosphoric acid (PA) production, in which phosphate rock (PR) is reacted with strong acid mainly sulfuric acid. This work aims on studying the rare earth elements (REEs) distribution during the production of phosphoric acid using different qualities of phosphate through various industrial technologies. At the onset of this work, the process started with 12 samples of PR, PA, and phosphogypsum (PG) being taken simultaneously from two different Moroccan basins (Ouled Abdoun mine represented by K09 and Gantour mine depicted by G10, G20, BG) and various production lines at two processing platforms (Jorf Lasfar and Safi). Afterward, collected samples were prepared and analyzed for REE characterization using an inductively coupled plasma mass spectrometry (ICP-MS). Based on the analysis results, a transfer factor ( TFX) was introduced with the aim of gauging the REE distribution between PA and PG. The results showed that the total concentration of REEs in different phosphate qualities ranged from 411 to 631 ppm; the major part of this concentration was attributed to the four elements: Y, La, Ce, and Nd which constitute more than 77%. The REE distribution between PA and PG depends on neither the phosphate quality nor the industrial technology used since that the distribution results showed that 55 up to 66% of the initial REEs in phosphate rock ended up in the PG. The behavior of each REE was common except for the element scandium, which transferred mainly to the phosphoric acid.

Nov 3, 2021

By J. L. Ellenberger, G. S. Esterhuizen, T. Miller, M. M. Murphy

A limestone mine in Ohio has had roof instability problems that have led to massive roof falls extending to the surface. This paper describes a collaborative study of these events undertaken by the National Institute for Occupational Safety and Health and the mine owners. The study focuses on the roles that weak, moisture-sensitive floor and weak bands in pillars play in a general instability that led to roof falls at this mine. The NIOSH Stone Mine Pillar Design software (S-Pillar) does not include analysis for weak floor or weak bands and recommends that when such issues arise they should be investigated further using a more advanced analysis. It is important to recognize that without the impact of the floor or weak bands, the calculated inherent stability factor for these pillars is within the recommended design range. Therefore, to further investigate the observed instability occurring on a large scale at the Ohio mine, FLAC3D numerical models were employed to help determine the failure mechanism. Roof-to-floor convergence monitors were also installed in the areas predicted to have further instability. This case study will provide important information to limestone mine operators regarding the impact of weak floor causing the potential for roof collapse, pillar failure, and subsequent subsidence of the ground surface. This recent case demonstrates that weak floor can be a significant factor in pillar stability and should be assessed during the design stage of the mine.

Jan 1, 2015

By Alan A. Campoli

The US Bureau of Mines (USBM) conducted research to develop improved guidelines for selecting the type and pattern of roof support in different geologic environments. The goal is to minimize the over and under design of mine roof support, resulting in more productive and safer mines. To obtain the necessary data on roof behavior and support performance, USBM conducted several field studies. Each study covers roof geology, stress regime, ground reaction, support interaction and mining environment. A consistent experimental design is being used. This includes measurements of roof bolt loads and roof movements. So far, 10 studies have been conducted in several geologic settings.

Jan 1, 1996