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By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By B. A. Filas, H. N. Lammers

Responsible environmental, social, and governance (ESG) practices are not new to mining. It is the ESG acronym that has become the “flavor-of-the-day” with the stock markets, accounting firms, and investment strategists. This increased interest from the financial sector has heightened executive awareness and accountability to where corporate leadership and directors are proactively prioritizing ESG issues from the top down within their companies. This paper aims to convey what the authors believe one needs to know to be able to conduct and prepare effective ESG audits and reports. The emphasis is on how ESG fits within the mining sector, some of the ways that many mining companies have been practicing ESG responsibility for decades, the importance of effective communications with stakeholders, and the roles that regulatory and international lending institutions play in enhancing ESG practice on a global scale as a precursor to the discussion on ESG auditing and reporting. Without this background, the ESG audit may become a purely academic exercise.

Feb 1, 2023

By Ankit Jha, Javad Sattarvand, Aaron Young

Blockchains are one of the prominent disruptive technologies that are being implemented in several disciplines. The application of blockchains in the mining and mineral industry can provide utility for several processes especially when the industry is undertaking digital transformation. The governing principles of blockchain technology are applicable in undertaking transformation in several processes within the mining industry. This study investigates the applications of blockchain technology within the realms of the mining industry and identifies key areas of implementation. A systematic review of publications on academic platforms relating to blockchain technology in the mining industry did not retrieve a considerable number of articles. Consequently, a thorough review of white papers and articles authored by individuals on use cases within the mining industry is compiled and presented in this manuscript. This paper identifies all the potential areas within the mining industry where blockchains could provide value and improve processes through their implementation. The broad area of implementation of blockchains includes supply chain, traceability in spare parts, contract management, regulatory compliance, and cyber security.

Nov 23, 2023

By J. Kretschmann

Mining heritage can be of outstanding value for many regions around the world, because mining has been done for thousands of years for the benefit of mankind and its development. This paper presents an ongoing project creating a general guideline for the handling of mining heritage on the basis of experiences made in Germany. Interactions of stakeholders in the ?heritage network? as well as strategies for the technical proceeding will be described. An action plan for the sustainable handling of mining heritage has already been developed in part, which includes necessary measures. Best-practice recommendations will be derived. Keywords: m ining heritage / preservation / guidelines / action plan / Sustainability

Feb 27, 2013

By A. Halim, A. Martikainen, S. GYAMFI

This paper outlines a unique case of the development of strategies to reduce ventilation and heating costs in Konsuln iron ore mine in northern Sweden. The mine, located just south of Luossavaara-Kiirunavaara Aktiebolag’s Kiruna iron ore mine, was developed as a test mine from 2018-2020 for the Sustainable Underground Mining (SUM) project. Besides functioning as a test mine, Konsuln also contributes to ore production. The existing mine ventilation system was designed for the current production rate of 0.8 million tons per annum (Mtpa). There is a plan to increase this rate to between 1.8 and 2.0 Mtpa.

Sep 30, 2021

By Staff

Minerals contribute to U.S. gross domestic product (GDP) at several levels - from mining and processing to the manufacturing of finished products. In 2010, the estimated real GDP of the United States increased by 2.8 percent compared with 2009 and the estimated nominal GDP was about $14.6 trillion (Table 1).Trends in various sectors of the domestic economy are often rejected in mineral production and consumption rates. For instance, continued declines in the construction industry during 2010 were rejected in further reductions in the production and consumption of cement, construction sand and gravel, crushed stone and gypsum, which are used almost exclusively in construction. Performances in other sectors were mixed and less easily characterized. Recovery from the economic decline of 2008-2009 became apparent in 2010, as prices for many mineral commodities continued to rise with increasing demand for those materials or the products in which they are found.

Jan 1, 2011

By K. Muralidharan, P. R. Rao, M. Momayez, K. A. Runge

The evolution of trapped geothermal heat in hot underground mine along with emission of toxic gases and dust during mine activity makes the mine environment unfavorable is hazardous to worker’s health. This imposes significant demand on cooling and ventilation systems. As a result, substantial costs are incurred while implementing environmental regulation processes to dissipate the heat and provide comfortable working conditions. Thus, as an alternative, the development of cost effective materials to act as efficient thermal insulators is on the rise. Thermal conductivity is an important property that is a direct measure of a material’s ability to facilitate/deter heat flow. In addition to their superior chemical resistance, adequate mechanical strength, abrasion and fire retardant as well as environmental benefits in comparison to existing building materials such as ordinary Portland cement, aluminosilicate based geopolymers are now gaining widespread interest as promising thermally insulating and sustainable materials. This paper begins with an overview of geopolymers, transitioning into a discussion of recent developments in the field of geopolymer development as a thermally insulating material broadly classified into: filled geopolymers and porous geopolymers resulting in structures with enhanced ability to impede heat flow.

May 9, 2020

By Leon Y. Sadler

Equations which predict the unsteady-state response of the continuous froth flotation cell to changes in operating conditions are necessary for the rational design of an automatic flotation cell control system. Unfortunately application of automatic control to froth flotation separation equipment has lagged behind application to other types of separation equipment (for example distillation columns, absorbers, liquid-liquid extractors, etc). This may be due partly to the unavailability of suitable mathematical models for predicting the dynamics of continuous mechanical froth flotation cell. This paper presents the results of a comparison of four dynamic flotation models (in transfer function form) using the same set of unsteady-state continuous flotation data. One of the transfer functions tested has been presented previously in the literature (1), another (2) has been accepted for publication, and two are given here for the first time. In addition, data are presented which confirm earlier findings that the mixing in the rotor-stator type cell is nearly perfect. The specific purposes of this paper are to: (1) provide the automatic control systems designer with several alternative dynamic mathematical models of the continuous mechanical froth flotation cell (2) give some idea of the relative a¬bility of each model to predict unsteady-state behavior by fitting each model to the same set of experimental stimulus-response flotation data and (3) provide more insight into the macro-mechanisms prevailing in the continuous mechanical flotation cell. The dynamic models which are presented and tested here all relate the time variation of the concentration of a given floatable mineral in the tailings to a time-dependent disturbance in the same floatable mineral concentration in the feed to the flotation cell.

Jan 1, 1972

By C. Okrusch, C. Roos, M. Akers, S. Rosenthal

Modern mining consistently faces controversy. Public sentiment impacts the permitting and development of mines, so a quality public relations (PR) program for mining companies may improve society’s impression of the mining industry. Developing mines face more permitting challenges than operating mines, which stems from a lack of societal trust given the history of mining and its impact on the environment. Two case studies were selected based on the type of public controversy they face to demonstrate how pervasive permitting issues are in industry. Both Pebble Mine, owned by Northern Dynasty Minerals (NDM), and Black Butte, owned by Sandfire Resources America Inc (SRA), experienced difficulties with their water permitting due to potential risks their mine developments posed to local fish populations. Pebble has, to date, failed in all of their attempts to become permitted due to concern for the water and the fish. Black Butte dealt with the same problems, on a smaller scale, but was able to become permitted. These two mines will be discussed in detail including local history, mine setting, mining history in America, prevalent culture groups, technology development, and intercultural communication competence (ICC). The mining industry needs to evaluate its ICC skills since ICC directly determines the effectiveness of PR. Based on Barna’s Stumbling Blocks for intercultural communication, methods for improving the mining industry’s PR will be suggested in the hope of easing the permitting process for future mines by developing ICC.

Mar 2, 2022

The purpose of the 3DOPT Program is to determine, starting from drill hole data, the optimum economic mining limits for an open pit. The economic limits are defined as those which maximize total profit, i. e. total mineral value mined less the total mining and milling costs, subject to the restriction imposed by the pit slopes. To accomplish this, the program employs the following: (1) A three dimensional matrix of equal sized blocks in order to file the engineering data and the cost/value data required to develop the profit figure for each block of ore/waste. (2) A graph algorithm developed specifically for optimizing these profits.1

Jan 1, 1966

By Baolin Qu, Jingxin Wang, Cuncang Xu, Bing Wu, Mingyu Zhong

With the development of the coal mine regulation regime, the situation of coal mine safety production in China has continued to improve. However, coal mine accidents have not been fundamentally eliminated; constantly learning from historical accidents can make mining work safer. Therefore, to better understand the coal mine accident characteristics, this study analyzes the tendency of coal mine safety accidents from multiple perspectives, among which all accidents after the establishment of the State Administration of Coal Mine Safety in 1999 are the top priority. The results show that strict national policy, technological progress, and reasonable coal prices are conducive to the safe development of mines. On the contrary, high-intensity centralized production will lead to frequent accidents in the peak season of coal production. In addition, the type of coal mine ownership will have an indirect impact on the occurrence of coal mine accidents. The research results not only play a positive role in the prevention and control of coal mine accidents in China but also have reference meanings for the safety production of coal mines in other countries in the world.

Dec 28, 2022

By Andrew Scogings

The current edition of The Australasian Joint Ore Reserves Committee (JORC) Code was published in 2012 and, after a transition period, the 2012 edition came into mandatory operation on Dec. 1, 2013. There is a significant change between JORC 2004 (Clause 44) and JORC 2012 (Clause 49) for the reporting of industrial mineral resources and reserves, which should be addressed by ASX-listed players in the industrial minerals space.

By David Hatem, Michael Vitale, Joseph Gildner, Michael Roach, Fred Dunham

Dispute Review/Resolution Boards (DRB’s) are a highly successful dispute avoidance and resolution tool. In a joint effort between the UCA of SME and the Dispute Resolution Board Foundation (DRBF), the authors embarked on an informal assessment of the state of the DRB practice in the tunnel industry from the point of view of the Contractor, Owner, DRB Practitioner, and Attorney. The results of this assessment were presented in a panel discussion at the Rapid Excavation and Tunneling Conference (RETC) in June of 2021. This paper presents the results of that session with recommendations for further industry discussion and implementation

Dec 1, 2022

By MAHESH SHRIWAS, CHRISTOPHER PRITCHARD

Ventilation monitoring and control in mines are becoming an integral part of day-to-day activity for maintaining the health and safety of miners. This paper evaluates potential real-time monitoring solutions for detecting and reducing diesel particulate matter (DPM), mine fires and dust in situ and examines the state-of-the-art use of ventilation monitoring and control in underground mines for detecting and reducing air contaminants to acceptable regulatory limits. In this study, relevant documents, including research papers, trade publications and manufacturer website information, are reviewed to identify research gaps. This paper also includes evaluations of contemporary sensors (airflow, gas, dust and silica), control system and software technologies, data transport systems, the Industrial Internet of Things (IIoT), ventilation network simulators and control devices to identify potential health and safety research gaps. Examples of some mines in Canada, Australia and the United States that have been using ventilation monitoring and controls are included as well. Overall, this review identifies multiple challenges and research gaps in applying mine monitoring and control systems that could be the focus of future research, offering potential improvements to miner safety and health and financial benefits.

"INTRODUCTION In recent years, there has been increasing focus on environmental and social impacts of the extractive industries, climate change and resource scarcity. The concept of the circular economy aims to replaces the “take-make-dispose” economic model with one that eliminates waste of all kinds and is restorative by design. Such closed-loop systems implicitly aim to reduce the quantity of primary extracted materials entering the economy, thereby affecting supply and demand dynamics, hence mining industry economics. For the metals industry, the ability to engage in, or adapt to the circular economy can be heavily affected by industry structure and geographical factors. Eco-efficiency initiatives that reduce waste and environmental impact may help the mining and metals industry align with some of the goals of the circular economy. This paper focuses on base metals, and explores case studies in copper, lead and zinc. It analyzes primary and secondary metal production, and recycling. It examines company structures and how these affect engagement with the circular economy. CIRCULAR ECONOMY PRINCIPLES Ellen MacArthur Foundation (2012) describes the circular economy as “an industrial system that is restorative or regenerative by intention and design”, which “replaces the ‘end-of-life’ concept with restoration”, and “aims for the elimination of waste through the superior design of materials, products, systems, and, within this, business models”. The concept is systems focused. For materials such as metals, a series of loops are considered, including maintenance of devices, reuse, refurbishment and recycling. Potential methodologies to achieve circular economy outcomes include disassembly and reassembly of manufactured goods, leasing rather than buying major appliances, and converting to renewable energy sources. The circular economy is partially aligned with the principles of eco-efficiency, which relate to reducing the environmental impact per unit of a material produced. PRIMARY AND SECONDARY METAL PRODUCTION Base metals (copper, lead, zinc and nickel) are essential ingredients in modern economies and are key commodities produced by the global mining industry. Metal production can be categorized as primary or secondary. Primary metal comes from the processing, smelting and refining of metal content extracted from ores, while secondary production comes from metals recovered from recycled streams (e.g. recycled lead-acid batteries, copper wire scrap, etc.). Metals are stored in natural, anthropogenic in-use and anthropogenic waste stocks. An example of the stocks, flows and processes associated with global copper extraction and use is shown in Figure 1."

Jan 1, 2018

By Joseph Kuti

Longwall mining is the term used for the underground extraction of a wide and deep panel of coal. Such a panel may be blocked out by one or more entries on either side ("head" and "tail") of a longwall face. If all the entries are pre-driven, the panel extraction is termed longwall retreat mining. With one exception, all the longwall faces in the United States are of this type. (1) prior to the general decline in the rates of production with Continuous Miners, the development of the multiple entries generally kept ahead of the longwall extraction rate. This is no longer the case: longwall extraction rates far exceed the rate of development. In addition to this problem, in newly established mines, the development of a haulage and bleeder system based on multiple entries results in a lead-time of three years or more before longwall mining can be applied. This is one reason why earlier projections and much of the optimism attached to longwall mining as a principal "savior" in the energy crisis should be viewed with some caution.

Jan 1, 1978

By Tim O’Neil

Nearly 4,800 mining professionals and exhibitors occupying 580 booths attended the 2000 SME Annual Meeting and Exhibit, Feb. 28-March 1, in Salt Lake City, UT. The technical program included80 sessions and four specialty symposia: bulk material handling, control 2000, minor elements 2000 and plant operaters. Meeting highlights included the keynote session. Executive shared their perspectives on pivotal issues and approaches to address the challenges of the new millennium. SME has begun planning for its 2001 Annual Meeting, Feb. 26-28, in Denver, CO. The meeting carries the theme “2001 — A Mining Odyssey.” A call for papers has been issued and exhibit space is 80% reserved. For information, visit SME’s website, www.sme-net.org. Or write Box 625002, Littleton, CO 80162-5002,ph 800 763 3132 or 303 973 9550, fax 303 979 3461, or email meetings@smenet.org.

Jan 1, 2000

By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By Gregg Davidson, Lonnie Jacobs, Brett Zernich, Alan Howard, Robert Pintabona

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2014

By Carlo Sampaio, Moacir Veras, Aaron Young, Carlo Petter

"Three major challenges for the mining industry are the minimization of energy use, water consumption and environmental impact. Therefore, any technique that reduces milling waste, decreases water usage and shrinks impact during mine life must be considered a major innovation in mining.To these ends, one of the most impactful developments in mining within the last 10 years has been the expanded use of high technology sensors to create preconcentrations of mine ore (Jönsson, 2014). The most common sensors used are charge-coupled device (CCD) cameras, that allow through a red, green and blue (RGB) coloring system, the separation of minerals with different colors, tones and, in many cases, with differences in brightness.More recently, the development and use of dual energy X-ray transmission (DE-XRT) to enable the separation by atomic density of the constituent minerals within a given rock has become a reality. Within this work, a rapid bibliographical review of the CCD and DE-XRT methods and examples of their usage within mining and the industrial minerals sector are presented.Sensor-based sorting in miningAutomation within mining is one of the industry’s current goals. Sensors of various kinds have been used as steps toward automation in recent years, from improving the safety and productivity of haul trucks through the use of cameras and global positioning satellites (GPS), to the divination of slope failures. Just as with other mining areas, sorting has improved dramatically and made great steps toward automation in recent years (Wotruba et al., 2014).Sensor-based sorting (SBS) uses spectromatic sensors to identify intrinsic characteristics of particles and separates them by either mechanical or pneumatic means into different product streams (Wotruba et al., 2014). SBS can be used with great effectiveness to improve gravimetric beneficiation through the selective separation or preconcentration of run of mine ores (ROM)."

Jan 1, 2015