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By Alfred Jr. Petrick, William A. Vogely

INTRODUCTION The scope of mineral finance extends beyond the economic aspects of property evaluation to all of those activities involving acquisition and utilization of funds with an objective to optimize the value of the firm. It must, therefore, en- compass consideration of the overall financial goals of the firm, decisions involving external versus internal growth and domestic versus foreign investments, management of working cap- ital, efforts to minimize the cost of capital, and decisions with regards to the instruments of long- term debt and equity financing. The scope of this section is limited to considerations of special interest to the mineral or petroleum engineer, which include the following aspects of mineral finance: (1) The technical aspects of mineral or coal property or oil and gas reservoir evaluation which provide the basis for estimation and forecasting of revenues and costs. (2) Estimation and forecasting of costs and prices in a inflationary economic environment. (3) Calculation of cash flows which model .. , the investment in minerals, coal or oil, and gas. Such models require assumptions as to the timing of cash flows, escalation of capital and operating costs, base prices, and escalation, the tax regime, royalties, division of profits and the economic aspects of loans. (4) The role of discount rate in the economic analysis of an investment which requires consideration of the opportunity costs of the firm, cost of capital, risk premiums. (5) Risk analysis including application of the concepts of conditional net present value, expected value, and risk preference as well as the application of the techniques of sensitivity and simulation. (6) Selection of application criteria for in- vestment decision making. (7) Capital structure with particular reference to the effect of debt financing. (8) Consideration of sources of funds utilized by the minerals industries. (9) Long-range planning including portfolio analysis. This section is limited to principles, methodologies, and trends in mineral investment, finance, and long-range planning in the United States with a perspective from the year 1984. Consideration of the key concepts is supplemented by case examples of investment risk analysis and financial structure. Important factors affecting mineral investment evaluation during the 1980s include volatile metals prices, cost inflation, and the introduction of techniques requiring the computer and its capacity for improved technical and economic analysis into the hands of those who know most about the industry. The personal computer is replacing the calculator on the desk of the individual analyst and is rapidly becoming a required tool for the study of engineering and economics. Examples of change brought about by the micro-computer include greatly improved techniques of cost estimation, wider application of the computer for project analysis, computer graphics, reserve estimation, geostatistical analysis, mine design and other techniques that capitalize on the ability of the computer to handle

Jan 1, 1985

By Alix Thierart, Yann Rouillard, Bernard Catalano

Bessac's presence in Singapore started in 2014 with the construction of the Thomson metro line, which includes 18 miles of twin-bore tunnels and 22 stations split into 17 construction packages. Bessac joint venture was allotted the T219 lot. The works include the construction of a new 660-foot (200-meter) long transfer station, two parallel 19-foot (5.8 m) ID tunnels and a pedestrian underpass. The urban context and the very soft ground stratum imposed to utilize unusual tunneling techniques, from upgrading a slurry TBM to a high-density slurry TBM to launch with very low cover and canopy pipe roofing completed with a MTBM without retrieval shaft.

Jun 23, 2024

By M. J. Zdunczyk

The final 1995 figures on industrial sand and gravel have not yet been compiled by the US Geological Survey (USGS). There is usually about a nine-month lag time in receiving and compiling this information. However, USGS estimates that domestic production of industrial sand and gravel will increase about 4% to 28.2 Mt(31 million st). The average unit price is expected to increase as well. The top five producers during 1995 were Unimin, US Silica, Fairmount Minerals, Oglebay Norton and Morie Co. Glass manufacturing for containers, automobiles and buildings was mixed during 1995. Containers, the largest consumer of silica sand, remained steady, with regional increases. However, silica use in glass containers face increased competition from plastic and recycled glass (cullet). It was reported that the Pepsi Cola announced plans to replace glass containers with plastic during 1996.

Jan 1, 1996

By E. F. Draskovich

In 1984 a high temperature heat recuperation system was installed in the pellet plant of the National Steel Pellet Company located in Keewatin, Minnesota. The system is similar to those of Cleveland Cliffs Empire and U.S. Steel's Minntac operations. It recovers hot process air from the cooler by induced flow, and directs it to an intermediate zone between the drying and preheat zones on the grate machine. This system recently underwent further modifications in April 1985, following initial operation in 1984. The M. A. Hanna Company, which manages the property, developed the design criteria and made the subsequent recommendations for modification through its research facility in Nashwauk, Minnesota.

Jan 1, 1986

By J. T. Carlson

Dolomite is an objectionable impurity in phosphate ores, due to its MgO content. Even though dolomite and apatite liberate at a coarse size, the very similar densities of dolomite and apatite makes density separations difficult. However, if operated correctly, jigging can be a very efficient process. This has led to the development of a unique laboratory scale jig that allows for easy alteration of effective jigging properties. Key jigging parameters have been investigated for the separation of dolomite from phosphate ores. It was found that a pulsation rate of approximately 200 pulses/minute worked best for separating dolomite from apatite.

Jan 1, 2010

By X. Cheng

The mechanism of cathodic decomposition of pyrrhotite was studied in deoxygenated solutions at natural, near neutral pH using potential and cyclic voltammetric measurements. Reaction products on pyrrhotite surfaces were examined by AES and XPS, and by analyzing the voltammograms for the electron balance of the reactions. Surface properties of the pyrrhotite/solution interface were characterized using ac impedance technique. The parameters of an equivalent circuit were determined by the nonlinear least squares fit (NLLSF) technique. The effect of cathodic polarization on floatability was investigated by micro-flotation tests. Possible implications to the flotation separation of chalcopyrite-pyrrhotite ores are discussed.

Jan 1, 1993

By C. B. Rash, W. W. Fowler, Gill Montgomery

INTRODUCTION Fluorspar is the common term used for the mineral fluorite, which is naturally occurring calcium fluoride (CaF2). It is the principal source of fluorine, the most reactive of the chemical elements, from which a great variety of unique and strategically important chemicals are produced. Commercial deposits of fluorspar are widespread throughout the world, and its availability is essential to the industrial progress of all nations. GEOLOGY AND MINERALOGY In its pure form fluorspar, CaF2, contains 51.1% calcium and 48.9% fluorine, and has a sp gr of 3.18 and a hardness of 4. It is commonly a glassy mineral. colorless, white, or grayish. but may also be various shades of purple, pink, blue, green, yellow, or tan. It belongs to the cubic system mineralogically, and commonly crystallizes into cubic shapes in vugs and cavities, although most of it is massive, with interlocking crystals. Minable fluorspar deposits, in descending order of importance, occur as bedded limestone replacement deposits along fault zones; fissure-filling vein deposits; breccia filling in limestones, dolomites,

Jan 1, 1985

By Boris CARO VARGAS, Bernard Theron

"In early 2014, Nicholson Construction Company was awarded, together with its tunneling sister company Bessac, the Norris Cut Miami Tunnel Project. The 2.5-meters diameter segmental lined tunnel, 1600-meters long, is aimed to replace the existing 54” force main connecting the Waste Water Treatment Plant (WTP) on Virginia Key to Fisher Island. To overcome project challenges such as the highly permeable limestone of the Fort Thomson Karstic Formation (one of the most permeable formation in the World), the project team has developed State of the Art solutions: The TBM was launched with pipe-jacking technique for the first 70-meters and then converted to segment erection mode. It allows substantial schedule savings and drastically reduces the size of the circular launching shaft. The TBM, jointly designed and manufactured by Bessac and Herrenknecht, can convert from slurry to EPB mode within a few minutes. The cutters can be replaced by wet divers thanks to an innovative application in the TBM industry. PRESENTATION OF THE PROJECT The aim of this project is to replace the existing 54-inch force main pipeline which transmitted all sewage collected from Miami Beach, Surfside, Bal Harbour, Bay Harbor, North Bay Village and Fisher Island to the Central District Wastewater Treatment Plant (CDWWTP) to Fisher Island. The existing pipeline consisted of pre-stressed concrete cylinder pipe which is in poor condition in a number of locations and could be subject to sudden failure. An adjacent portion of this existing force main under the Government Cut (North Fisher Island) has already been replaced as part of a previous design-build contract and involved the installation of a 60-inch diameter fiberglass-reinforced mortar pipe installed inside a micro-tunneled casing."

Jan 1, 2016

By J. A. Ehler

Speed and torque control of standard A.C. induction motors can be accomplished using a variety of devices ranging from mechanical, hydraulic, and electrical. Also, the motor can be specified as an A.C. wound rotor or D.C. motor using the associated controls. Normally, any one of these drive types can be adequately used to provide the torque control necessary to accelerate a conveyor belt system. The selection will depend on the economics, experience, and preference of the designer or end user. These drive types will be presented from a functional and performance viewpoint to assist in the understanding of the available technology.

Jan 1, 1998

By Ronald L. Gibbs

IN THE BEGINNING Contrary to popular myth, the personal computer can trace its roots back to a time before 1981 and the IBM PC. The seeds of the personal computer revolution were probably founded in 1975 with the release of the Altair (kit) personal computer, first advertised in Popular Electronics. June of 1975 marked the beginning of the Homebrew Computer Club in San Francisco. The founding membership list of the Homebrew Club now reads like a "Who's Who" of those involved in the early development of the personal computer industry. The Apple I computer was created by Steve Wozniak in early 1976 from the newly manufactured MOS Technology 6502 chip. It had 4,000 bytes (4K) of Random Access Memory (RAM] memory, a revolutionary amount of memory in 1976. Another early pioneer, the Commodore Pet computer, was another 6502 machine, but with 8K of memory. Tandy Corporation made its name in the hobby industry with leather kits. They embarked on a new path with the production of the TRS-80 line of personal computers. Most were based on the Z-80 chip, but again, were memory limited. A number of other Z-80 based systems followed later, including the Osbourne and the KayPro Computers. These systems were based on the Digital Research CP/M operating system and had a maximum of 64,000 bytes of memory (64K). The Apple I1 Computer appeared in 1977. Newer models of the original Commodore Pet and an Atari computer followed. These machines were also limited to 64K of memory addressing, and the early models typically shipped with only 16K, 32K, or 48K of memory. The Z-80 and the 6502 were the first truly commercialized CPU chips touting boxes with key- boards, monitors (sometimes a TV), and the ability to expand (peripheral slots for serial communications, centronics parallel communications, etc.1. They all shared one technology, audio tape as a storage media. The use of a portable tape recorder provided inexpensive, if not always reliable, magnetic storage. The tape recorders were typically finicky and required patience to use. Adjustments to the volume control were often needed to find "just-the-right" setting for loading or saving information. This kept the personal computer from being accepted in many markets, and gave it a reputation as a hobbyist or experimenters' toy. In early 1979, Steve Wozniak finished the design of a floppy disk drive and controller. This was a revolutionary design which reduced the "then" standard number of controller chips from fifty-plus, to just eight. With the advent of an affordable floppy disk drive mechanism, the personal computer was about to gain respectability. From a business standpoint, it was now possible to save and reliably retrieve business information. It also provided a superior means of distribution for commercially created software. Commercial software became a commodity rather than an oddity.

Jan 1, 1993

By Dan Nilsson

Open pit mining is the strong sector of the American mining industry. In the middle of the 60's. 17-18% of the ore in metal mines was mined with underground methods. From the middle of the 60's to 1980 the production in open pit metallic mines increased from about 400 to close to 600 million short tons while at the same time the underground mine production decreased a little, from about 90 to about 80 million tons. Less than 15% of the ore prodction now come from underground mines. Large amounts of waste rock were also handled in the open pits. In the middle of the 60's about 600 milion tons were handled, in 1980 1,200 million tons were moved. This means that the average stripping ratio increased from about 1.5 to over 2.0 tons of waste rock per ton of ore, figure 1.

Jan 1, 1983

By Ernst P. Hall

As a scientist and an engineer whose responsibilities include the consideration of air pollution and its control, I am frequently called upon to answer variations of two basic questions, These questions may I be set forth as: (1) How much air pollution does the coal industry cause? (2) How serious is the air pollution problem to the coal industry? At first these questions may seem elementary and almost trite, but serious consideration of them will show that they are technologically involved and I further complicated by the subjective base to which they must be evaluated.

Jan 1, 1963

By Donald W. Gentry

Mine valuation is a multifaceted, interdisciplinary process by which the economic viability of an old, existing, or new mining property or venture is determined. The problems associated with arriving at a representative and accurate value for a mining property are complex and numerous, and the procedures utilized in determining these values vary from simple, back-of-envelope calculations to sophisticated mathematical manipulations requiring computer modeling and analysis. Regardless of the complexity or the degree of sophistication associated with any particular project, the evaluation process must ultimately provide management with two basic types of information. First, the evaluation process should indicate whether or not the mining project is economically viable after careful consideration of all engineering, environmental, geologic, and other variables pertaining to the project. Second, the evaluation process should provide management in- formation on the relative attractiveness of the project when compared to other alternatives. In some cases, it may be extremely difficult to supply this information for a project directly. Nonetheless, the evaluation process should and must present all information necessary in a format which can be incorporated into the decision-making process as expeditiously as possible.

Jan 1, 1979

By Scott G. Britton

This chapter discusses the necessary construction techniques for installing coal mine ventilation devices. Included in the discussion are the major air controlling devices called over- casts, regulators, stoppings, and doors. Under-casts, although a valid device, are used infrequently in coal mining and are not discussed here. Typically, coal mines require a great many ventilation devices to control the air movement. Post-I969 mines have had to design their air systems to comply with the Federal Coal Mine Health and Safety Act (CMHSA) as discussed in Chap. 1. Pre- 1969 mines have had to redesign major portions of their systems to comply with the basic components of the law such as separation of air courses, single unit split ventilation, and minimum air quantities. It is not uncommon, therefore, to find a large mine (2.0 Mt/a) requiring several hundred overcast installations (permanent, as well as repeat construction), plus doors and regulators placed among a thousand or more stoppings. When each of these devices is subject to leakage from installation and weathering defects, the importance of effective construction becomes evident. An historic rule of thumb for average mine ventilation says that about 70% of all the air pressure generated by the mine fan is lost between the portal and the working faces. Of course, this rule is subject to many factors, but the message is clear: there is a tremendous inefficiency in controlling leakage through common air devices. This chapter strives to present a standard approach and design alternatives which can go a long way in reducing this leakage, and hence, ventilation costs. Historically, mine ventilation has progressed from natural, or draft ventilation, to fire-induced ventilation (Fig. l), furnace-fired centrifugal fans and finally, to today's modem mine fans. Underground controlling devices have been in use in the coal mines since the late 1600s, but the CMHSA of 1969 was the real turning point for mine ventilation. Minimum quantities and velocities of fresh air were required for mining, forcing coal operators and engineers to reevaluate and improve their systems. As a consequence, the cost for ventilating air increased. Today, companies face a variety of choices among design alternatives, materials, labor, and costs of ventilating devices for their mines. The best approach for any individual company or mine is determined by (1) the needs of the mine, and (2) the local design parameters. In my discussions of ventilation construction I shall be fairly general in terms of device installation steps, where specifics are warranted for clarification, I will include this information.

Jan 1, 1983

Rendering a solid hydrophobic and solid-fluid particle* attachment in flotation are recognized as not necessarily related (1,2). The attachment is governed by forces of attraction and repulsion which need to be considered. The induction time required for attachment after solid and fluid particle are brought into proximity (3-8) illustrates the point. Laskowski(8) showed that a reduced induction time favoured flotation but detected no change in contact angle, a standard indication of solid surface hydrophobicity. Induction .time is observed in fluid-fluid particle coalescence, there being called a rest time (9-11) The induction time phenomenon is related to the presence of a metastable liquid film (disjoining film (2)) of the continuous phase (water in flotation) which must thin and rupture to permit attachment. The lifetime of this film, which is governed by the rate of thinning and the probability of rupture with thicknesss, depends on a complex interaction of forces. Investigating these forces should help clarify the attachment process. Practical benefits would be improved understanding of slimes flotation (12,13) This paper is concerned with the role of the mobile fluid particle-water interface on the film lifetime, in particular, the role of time-dependent or dynamic interfacial properties resulting from deformation of this interface.

Jan 1, 1975

By J. C. Draper

This subject was introduced last April in a paper presented in Birmingham, Alabama, by James E. Elkin, General Superintendent of Duquesne's Coal Department. This paper will cover some of the same data and in addition it will update and further describe our experience. Our Portal No. 3 was started in June 1965 with battery tractor-trailer face haulage. This mine is operating in the Sewickley seam in Dunkard Township, Greene County, in Southwestern Pennsylvania as shown on Fig. 1. The Warwick group of mines fronts on the Monongahela River and extends westward for some ten miles as shown on Fig. 2.

Jan 1, 1968

Underground mining has the potential to be one of the more dangerous industries in the United States and the world. Following recent disasters in Sago, WV; Darby, KY, and Crandall Canyon, UT, the mining industry was reminded of the need for a system to allow trapped miners awaiting rescue to survive following a disaster. To address this need, Battelle has developed a Mine Barrier Survival System (MBSS) that surpasses all current technologies and sets a new standard for keeping miners alive in the event of a fire, flood, explosion or collapse. The MBSS creates a temporary refuge for miners who cannot escape by using inflatable barriers and a post-fire atmosphere scrubbing system to define the ?safe haven? and remove CO2 and CO while replacing oxygen and providing heat. Current personal-protective systems in use are designed to provide breathing air for only a few hours when, realistically, it may take days for rescue teams to reach trapped miners. Battelle?s MBSS is designed to aid up to 15 miners for four days.

Jan 1, 2008

By A. K. Sheik

A small underground mine in northern Idaho was used as an experimental facility for studying the role of water in the analysis of mine opening stability. Laboratory test data, borehole measurements and geological mapping assisted in constructing a coupled finite element model of the rock mass. The model was used to make quantitative estimates of: 1) rock stress, strain and displacement changes, and 2) water pressure and flow velocity changes that occurred during historical mining. Stope cuts and wet fills were included in the analysis. Stability of crown pillars between stopes was of particular interest. The relatively low effective stress and high rock mass strength showed that water pressure changes were of no great consequence in agreement with experience. The computational tools used in the analysis may be applied to other wet mines with appropriate changes to site-specific input data.

Jan 1, 1999

By P. D. Pack, E. H. Skinner

During design of a 550-foot rectangular shaft in alluvium, lateral support within the excavation was an anticipated construction problem. Actual experience showed that the nearly 9 x 14 foot excavation required no lateral support. A strain measurement program con- current with construction and for a 9-month period following completion of the shaft detected only minor strains. Shaft design included consideration of available geological information. Site exploration included a 754-foot drill hole, cored at selected intervals, and a suite of geophysical well logs. Generalized physical properties of the alluvium were developed from laboratory core testing. An elasto-plastic, finite element computer program (DAHLKE) developed by the Spokane Mining Research Center U.S. Bureau of Mines, has been recently used to analyze the behavior of the alluvium around the shaft. Analysis showed that yielding first develops in the shaft corners and progressively expands into the wall zones around the shaft as loading increases. Gradual growth of a plastic zone progressed outward from the excavation boundary at increasing loads but had limited extent and was surrounded at all stress levels by an infinite elastic zone. This design review, aided by computer analysis, confirmed that the shaft would have been considered theoretically stable as designed.

Jan 1, 1977

By T. A. Toney

A sampling program was conducted in 2008 to determine the run of mine characteristics of 5 coal seams. The sampling program included size analyses and float sink determinations. The samples were analyzed for ash and mercury concentrations for each size and gravity fraction. This paper will report on the sampling program, the analytical results, and the correlations determined in the data set investigated.

Jan 1, 2010