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By D Lautier, A A. Ndiaye, A Galli

Traditionally gold producers had built up hedge books to protect themselves against adverse changes in the commodity price, but diversified mining groups were staunchly opposed to hedging in any shape or form. The situation has evolved over the past few years. Gold miners have been reducing the size of their hedge books in line with the rising gold price. Commentators have talked about ædouble-digit dehedgingÆ and have suggested that this is the final countdown for gold hedge books. It sounded as if the era of hedging by mining companies was drawing to a close. But as appearances can sometimes be misleading, we decided to find out what mining companies were actually doing. Companies listed on stock exchanges are now obliged to give details of their derivatives holdings in their annual reports. Two or three years ago there was no such obligation. Our reality check was based on the latest annual report issued by three multinational mining groups; two with diametrically opposed views on hedging (Rio Tinto and Barrick) and the third (BHP Billiton) with an intermediate position. This snapshot of their derivative positions at a point in time revealed that Barrick and BHP Billiton have substantial derivatives positions (worth billions of dollars) to protect against adverse changes in foreign exchange rates and interest rates. Moreover Barrick has recently started hedging against increases in fuel prices. Despite its opposition to hedging, Rio Tinto has derivative positions worth several hundred million dollars, but these are primarily a legacy from various mergers and acquisitions over recent years or were entered into as a condition of project financing. Lastly we were surprised to discover that Barrick was holding asset-backed commercial paper (ABCP). So the idea that mining companies donÆt hedge their risks is just another urban myth.

Jan 1, 2009

By O. Q. Leone

A processing unit was developed for the complete cleaning of titanium alloy chips. The process uses solvent degreasing, magnetic separation, and anodic solution of nonmagnetic impurities in 10 weight-percent sulfuric acid. Vacuum arc-melted ingots weighing approximately 10 pounds each were prepared from cleaning chips according to ingot specifications.

Jan 1, 1973

By Philip W. Holland

This Bureau of Mines report discusses the results of three independent reconnaissance geochemical surveys conducted in the vicinity of the Bush Dome reservoir in the Bureau-owned Cliffside field near Amarillo, Tex. The surveys consisted of (1) determining the helium content of area ground waters, (2) determining the helium content of area soil gases and ground waters, and (3) determining the helium content of soil gases collected on a grid sampling pat- tern in the Cliffside field area. The native natural gas in the Cliffside field contains about 1.8 percent helium. To date, approximately 54 billion cubic feet of gas containing approximately 39 billion cubic feet of helium has been injected into the center of the Bush Dome structure. The research work, which was completed under contracts, was done to determine if helium concentration levels in ground water and soil gas could he used as an indication of the presence of helium in a subsurface natural gas accumulation. Results of the surveys were positive in that helium-in-water and helium-in- soil-gas anomalies were detected in portions of the Cliffside field area. All helium analyses were performed by mass spectrometric techniques.

Jan 1, 1979

By Robert Hopler

A blast caused the destruction of a bridge and loaded freight train and the death of three men, near Chattanooga, Tenn., on May 16, 1907. The blast and its disastrous effect has been described by Mr. Hunter McDonald, M. Am. Soc. C. E., in a paper read before the Engineering Association of the South and reprinted in the Proceedings of the Association for April-June, 1907. The excessive damage was so largely due to coincidence and wreckage of the bridge and train so complete that the incident is worthy of notice.

Jan 1, 2008

By M. D. Balen

The U. S. Bureau of Mines has undertaken the development of mineral industry cost escalation factors to enable the estimation of mineral development and extraction costs for mineralized sites in Alaska throught the use of the Bureau's Cost Estimating System v2.0 (CES 2.0). For the purposes of this document, all calculations are based on, and reflect the economic environment in Alaska in July 1992. The greater cost of mining in Alaska as compared to the contiguous-48 States can be estimated for Alaskan mining operations through (1 ) the analysis of capital and operating costs for analogous mine and mill plants in operation in the contiguous-48 States; (2) the hypothetical relocation of mine and mill plants from their actual location(s) to Alaska by making engineering modifications to the mine and mill plant design as required by the Alaskan site characteristics; (3) calculation of the cost of the required engineering modifications and; (4) the escalation of all costs to a level representative of the economic environment in Alaska at some specific point in time.

Jan 1, 2011

By E. S. Shedd

Amenability studies were conducted by the Federal Bureau of Mines on an electrooxidation technique for the extraction of mercury from cinnabar ores, particularly those that are too low in grade to be furnaced or retorted economically. Oxidation was accomplished by electrolysis of the ore while slurried with brine. Mercury was dissolved through the formation of the soluble tetrachloro mercury complex, HgC142-. Mercury extractions ranged from 90 to 98 percent in 4 to 6 hours of processing time when tests were made on eight different types of cinnabar ores containing from 0.7 to 18 pounds mercury per ton ore. Salt concentration was varied from 4 to 10 weight-percent depending on whether Pb02 anodes and iron cathodes were used or whether graphite was used for both electrodes. Power consumption ranged from 17 to 64 kilowatt-hours per ton of ore treated. Ninety-nine percent of the mercury was recovered from pregnant solutions by precipitation on an active metal such as zinc, followed by distillation of the resulting amalgam at 600° C.

Jan 1, 1975

By J. R. Thoenen

Profits in the crushed-stone industry, as in any other, represent the difference between selling price and production cost. When consumer demand increases rapidly, as occurred in the crushed-stone industry from 1918 to 1927, selling prices tend to rise. Cost of production usually rises, also, owing to the expense of expanding facilities, searching for and developing new quarries, and purchasing, installing, and operating new equipment. Frequently, also, the inattention of managements to the details of operating costs is responsible for their increase. This is not due to negligence but rather to the necessity of confining attention to the problems involved in producing material to supply orders. When market conditions change and consumer demand becomes stabilized or contracts, the producer r s attention usually is directed to assuring the orders necessary to keep his enlarged facilities busy. Hence, competition increases and soiling prices decline.

Jan 1, 1939

By Peter L. McSwiggen

The mineralogy of the Biwabik Iron Formation changes dramatically from west to east as the formation nears the basal contact of the Duluth Complex. This reflects a contact metamorphism that took place with the emplacement of the igneous Duluth Complex at tem¬peratures as high as 1200 °C. However, the mineralogy of the Biwabik Iron Formation also varies vertically through the stratigraphy of the unit. This variability in both the vertical and horizontal dimensions makes it difficult to predict exact horizons where specific minerals will occur. The iron-formation has been subdivided into four broad stratigraphic units (lower cherty, lower slaty, upper cherty, and upper slaty) and into four lateral mineralogical zones (1-4). Zone 1, the westernmost zone, is characterized by quartz, magnetite, hematite, carbonates, talc, chamosite, greenalite, minnesotaite, and stilpnomelane. The silicate mineralogy in Zone 2 of the Biwabik Iron Forma¬tion changes very little. However, the minerals begin to change dramatically in Zone 3. Most significantly, Zone 3 is characterized by the appearance of grunerite in both a tabular form and a fibrous form. In Zone 4, the original silicate minerals have completely reacted, and a new suite of minerals occupies the iron-formation. These include grunerite, hornblende, hedenbergite, ferrohypersthene (ferrosilite), and fayalite.

Jan 1, 2007

By D M. Menne

This paper is intended to give a general review of current gold extraction technology for free-milling or non-refractory auriferous ores. Fundamental process concepts and some of the differences between the current technologies is referred to. Typical flowsheets and layouts are provided and it is demonstrated that technology for extracting free-milling gold is relatively simple. For environmentally sensitive areas such as encountered in New Zealand relevant cyanide decay and destruction technology is also discussed. Brief mention is made of some likely future innovations. Finally reference is made of New Zealand's previous significant contribution to gold extraction technology. These contributions were pioneering ranging from the cyanide leaching of gold to adsorption by carbon and precipitation by zinc. New Zealand has not allowed its potential gold projects to develop at a rate commensurate with the rest of the world thereby stifling its renowned innovative approach in this technology. It is time for New Zealand mining to recognise its unique opportunities in developing gold extraction technology and again take a rightful place in leading the way.

Jan 1, 1986

By G. W. Grove, E. E. Quenon

"INTRODUCTION During September, October, and November 1946 the Safety Division of the Bureau of Mines, off' the United States Department of the Interior, Pittsburgh, Pa., tested four new types of self-contained breathing apparatus and approved them in accordance with Schedule 13C. Approval was granted with the proviso that certain specifications outlined on the approval plate be made fully effective, and with the understanding that established safe practices in training in the care and use of self-contained breathing apparatus are of major importance.The excellent records made during the past 30 years in the safe use of self-contained breathing apparatus, some of which required the almost continuous wearing of apparatus during several hours daily for days, weeks, or months, may be attributed largely to the Bureau's system of rescue organizations, selection of physically fit rescue workers, effective training, and educational work done in rescue and recovery operations during fires or following disasters and in the care and use of self-contained breathing apparatus. Loss of life during wearing of breathing apparatus was due almost invariably to poorly assembled or otherwise defective apparatus, poor physical condition of the wearer, or insufficient training or some incorrect procedure.The newly developed breathing apparatus are of much simpler design than the conventional type used for the past several years; however, it is just as important to select rescue crews carefully and to train them properly in the care, use, and limitations of the new types of apparatus as for the older long-established types, if anything like safety is to be achieved in using them. The Bureau of Mines considers that 1/2-hour and 3/4-hour self-contained breathing apparatus should be used only as auxiliary equipment in mine rescue and recovery work, and their capabilities and limitations should be well understood by those who wear them."

Jul 1, 1947

The Kaiser Aluminum and Chemical Corp. announced plans to raise June ingot prices by 4 cents to 57 cents per pound. Producers? April value for 99.5 percent unalloyed aluminum ingot was at 53 cents per pound. Domestic merchants last month were quoting the metal at 48-49 cents per pound. Primary aluminum producers began restarting production facilities following the settlement of the coal strike. Noranda Aluminum Inc. recalled workers to prepare potlines for production at its plant at New Madrid, Mo., which had closed February 14, 1978 due to the shortage of coal. Eastalco Aluminum Co. resumed full capacity production at its Frederick, Md. smelter where production had been cut by 30 percent. Anaconda Aluminum Co. resumed full capacity production at its Sebree, Ky. smelter.

Jan 1, 1978

An account is given of experimental apparatus for generating a short duration high velocity water jet and the effect of its impingement on various rock samples under air or water cover. The penetration was found to be highly dependent upon the rock structure; in general material with closely interlocking grains was resistant.The damage sustained by a stationary sample held close to the jet did not vary greatly whether the sample was in air or confined under a water layer; but when the sample was translated under the jet there was a marked increase in the damage sustained.Some consideration was given to the possible practical application of a water jet for deep hole drilling and an estimate made of the power requirements and transmission losses for such a system.

Jan 1, 1969

By Stefan Aronsson, K. Rainer Massarsch

"ABSTRACT The geology of Sweden is characterized by the most recent glacial period with deposition of very soft clays and loose sand. Due to these difficult geotechnical conditions, new, innovative foundation and ground improvement methods were developed, which today are used in many other countries. Over centuries, Swedish scientists and engineers have made important contributions to the developments in foundation engineering. An important aspect of the success of Swedish foundation engineering in practice is the spirit of close cooperation between practitioners, engineers, and scientists. This has been achieved by the establishing of commissions, with the aim of finding solution of geotechnical problems. The paper focuses on developments in foundation engineering during the last century and does cover present activities in Sweden.IntroductionSoil mechanics and geotechnical engineering play an important role in Swedish society, as most construction activities require the consideration of foundation conditions. The objective of the paper is to summarize important developments in foundation engineering, primarily during the past century, which have influenced geotechnical engineering also in other countries. These achievements are the result of contributions by scientists, engineers and practitioners, only a few of which can be named. The paper does not claim to cover all aspects of geotechnical engineering, as emphasis is on the solution of foundation engineering problems from an international perspective. Thus, ongoing or recent research and development projects and activities within the geotechnical community are not included, as this would exceed the scope of the paper.Over the centuries, Swedish scientists and engineers contributed to the development of civil and foundation engineering. One important reason is the geology of Sweden, which is characterized by the most recent glacial period, resulting in the deposition of soft clays and loose sands in the coastal areas and dense glacial till in the interior of the country. Geotechnical engineering in Sweden has a long tradition and early contributions by several Swedish engineers and scientists have had a profound influence on the current foundation design in and beyond Sweden. A description of early Swedish geotechnical engineering has been presented in several publications by Flodin and Broms (1981), Broms and Flodin (1988), Massarsch and Fellenius (2012). The historic development of Swedish geotechnical and foundation engineering can be divided into four periods. During the “Early Era”, engineers were active in different sectors of military, civil, and mining engineering. Next, the “Industrial Era” comprised developments during the industrial revolution, when the transportation infrastructure of the country was modernized and extended. During the third period, possibly the “Golden era” of Swedish geotechnical engineering, which started at the end of the 19th century and lasted the following fifty years, geologists, engineers and scientists helped to establish modern geotechnical engineering. But also during the recent past, the “Modern Era”, several important contributions to geotechnical and foundation engineering which originated in Sweden, are used in many countries today."

Jan 1, 2014

By J. G. Donaldson

Optimum conditions are given for chloridizing pyrite, marcasite, chalcopyrite, arsenopyrite, stibnite, and covellite with chlorine gas. The formation of metal chlorides is affected by the time and temperature of chloridizing, and by particle size of the sample. Chloridizing data also are given for chemically precipitated antimony (III) sulfide and copper (II) sulfide.

Jan 1, 1962

By J. R. Thoenen

Profits in the crushed-stone industry, as in any other, represent the difference between selling price and production cost. When consumer demand increases rapidly, as occurred in the crushed-stone industry from 1918 to 1927, selling prices tend to rise. Cost of production usually rises, also, owing to the expense of expanding facilities, searching for and developing new quarries, and purchasing, installing, and operating new equipment. Frequently, also, the inattention of managements to the details of operating costs is responsible for their increase. This is not due to negligence but rather to the necessity of confining attention to the problems involved in producing material to supply orders. When market conditions change and consumer demand becomes stabilized or contracts, the producer's attention usually is directed to assuring the orders necessary to keep his enlarged facilities busy. Hence, competition increases and soiling prices decline.

Jan 1, 1939

By Wilson G. L, Lord J. H

A detailed analysis of faulting indicatcs that blocks of "greenstone" have been thrust beneath the southern end of the Mt. Isa orebodies.This "greenstone" basement is considered to be a major structural control in the localization of these orebodies.INTRODUCTIONThis paper is based on exploration carried out by Mining Corporation (Aust.) N.L. from 1956 to 1960 in the area immediately south of Mt. Isa, Queensland. During this period over 20,000 ft of diamond drilling was completed together with costeaning and geochemical exploration.Early in 1959, it became apparent that diamond drill information could not be correlated with the current geological concepts of this area and a detailed geological appraisal became necessary. In all, sixty square miles were mapped at a scale of 1 in. to 500 ft, using enlarged aerial photographs. All drill core was logged and sections re-interpreted.Professor K. C. Dunham of the University of Durham consulted on this project and contributed through valuable discussion. Dr. A. Day of the University of Sydney carried out a gravity survey in February 1960 and Dr. H. Wilshire of the same University undertook microscopic examination of rocks from the area. Certain sections of the area were investigated geochemically by Mr. K. K. Hughes of New Consolidated Gold Fields (Asia) Pty. Limited in 1960.In outlining a theory of ore genesis in the area the writers have drawn heavily on the invaluable data published by many previous workers on the Mt. Isa field, in particular...

Jan 1, 1963

By A. Dale Wunderlich

Since Sept. 11, 2001, the author has been asked by several mining companies and mining publications to share some of his insights on how the terrorist attacks on the World Trade Center (WTC) and Pentagon might affect the mining industry globally. Until now, the author has been reluctant to express his thoughts in a publication that could possibly fall into the hands of terrorists and give them some ideas that they may not have been previously considering. However, the author discussed the contents of this article with several friends and acquaintances in the international intelligence community. They said that nothing commented on here is new to the terrorists. Potential terrorist targets Sources within the worldwide intelligence gathering community have told the author that current intelligence data indicates that it is likely that the Islamic fundamentalist groups responsible for the attacks on Sept. 11, 2001will likely be directing their effort at foreign business entities. Any overseas or any domestic businesses of highly visible companies that are part of the anti-terrorism alliance should consider themselves a potential target.

Jan 1, 2002

A typical sub-level block cave mining extraction method employs an undercut level to establish a cavity in hard rock, and as such requires special support methods and products to be installed during the development phase. The undercut level development in the block cave orebody is then sacrificial, and support elements will eventually report to the crusher and perhaps conveyor belt systems for transportation to surface. The choice of support products installed in the undercut level development should take cognizance of the detrimental effect these could have on the mining system such as cutting of conveyor belts, obstructing crushers, safety aspects, and productivity. This work explores the probability and practicality of making use of new-generation support products to make the operation safer as well as enhance productivity in the development phase and during the undercut operation. This paper will investigate the use of glass reinforced plastic(GRP) rockbolts and GRP mesh instead of conventional steel bolts and mesh along with resin capsule-filled holes with the GRP bolts. Complementing this with thin spray liner (TSL) application as another means of creating a safer operating environment, as well as a productive support medium, will also be addressed. These proposed items are envisaged to reduce production downtime and improve the safety of our people. These items are all easy and light to handle, cuttable and crusher friendly, as they will break up during the crushing process.

Jan 1, 2012

By K. Nielsen, J. Kristiansen

A series of laboratory blasting and grinding tests on three types of hard and competent rock (coarse-grained monzonite, fine-grained granite and very fine-grained gabbro) showed that a higher level of applied explosive energy enhanced grindability and produced a larger amount of fine (-0.106 mm) material. This confirmed reported industrial experience and the results of previous investigations. However, the results did not provide any information on the quantitative relationship between the energy applied in primary blasting and that required in subsequent comminution. Only about 1% of energy consumed in conventional grinding is used to create new surfaces, while power efficencies in cone crushers have been estimated at 70-80%. In blasting, up to 20% of explosive energy may be transmitted to the surrounding rock as elastic strain energy, leading to both primary rock breakage and the generation of microcracks

Dec 1, 1995

By Robert B. Worthington

This investigation was undertaken to develop a more efficient copper smelting practice that would help meet the increasingly stringent antipollution standards. Continuous smelting to copper and a 0.8-to 5-percent copper slag using pure oxygen has been demonstrated for several hours at a time in a unique double furnace, which was devised to overcome the heat losses inherent in a laboratory furnace. The use of pure oxygen to effect the smelting and conversion of copper sulfide concentrate in a single unit to produce blister copper and a very high S02 concentration provides a much reduced gas volume for more economical and thorough sulfur recovery. Although the process was successfully demonstrated for several hours at a time, extended test work using longer runs will be required to balance the system and to obtain test data for adequately demonstrating its technical feasibility.

Jan 1, 1973