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By S Shafiee, N Abbate

The evaluation of mining projects requires a methodology that will give flexibility and manage the existing uncertainty within the projects. The discount cash flow (DCF) and other traditional evaluation approaches, which are widely used in evaluating a significant number of mining projects, have simply assumed that the main variables remain constant in their evaluation; elements such as discounted rate, mine life, operating cost and production rate. The DCF ignores managementÆs flexibility to adapt and reforecast and revise decisions. Real options valuation (ROV) is one of the modern evaluation methodologies that provide a tool to adapt and revise mining projects under uncertainty and future variables movements. ROV brings more variables into the evaluation model compared to DCF and assumes them as uncertain and dependent. Finally, ROV provides a range of solutions that can assist in managing this flexibility.This paper endeavours to compare ROV and DCF for mining projects comprehensively and applies these two techniques in the model. The paper shows that ROV will be inclusive of extra value in mining projects due to variables not allowed for, or even ignored, when the DCF model alone is used. One of the significant advantages of the ROV method is being able to evaluate mining projects under different scenarios from the inception of the projects. Furthermore, ROV gives the ability to evaluate the mining project while allowing for abandonment, temporary suspension, or expanding the mining project. In other words, the ROV evaluation process creates an analytical environment, which allows for optimisation of the mining plan within the mining project, as well as the ability to change the capital structure dependant on existing circumstances over the life of the project. The ROV is a new evaluation method that can add value in mining project analysis and offers opportunities to amplify gains, or to mitigate losses. This paper also discusses some of the reluctance to use ROV instead of DCF in current project evaluation.CITATION:Shafiee, S and Abbate, N, 2012. Now, this is the time for mining companies to choose - Real option valuation or discount cash flow, in Proceedings Project Evaluation 2012 , pp 225-234 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By O. Barbosa F.

The thermochemistry of the systems SCN-H2O, Au-SCN-H2O and Ag-SCN-H2O is discussed. Potential-pH diagrams at 25°C are drawn for each system considering several sets of concentrations of the species involved. The information provided by the potential-pH diagrams is.complemented by distribution curves for each series of gold and silver complexes with thiocyanate. The analysis includes comparisons between the thiocyanate systems and the analogous cyanide systems, pointing out analogies and differences between the leaching of gold and silver with thiocyanate and with cyanide. The possibility of using soluble oxidizing agents such as ferric ions, hydrogen peroxide and Caro's acid is evaluated. The thermodynamic data used in the calculations and the chemical reactions represented in the Pourbaix diagrams are all reported in three Appendices. The overall results indicate the thermodynamic conditions for gold and silver leaching by thiocyanate.

Jan 1, 1989

By P. T. Brooks

A process for extracting 69 percent of the vanadium from weathered Nevada dolomitic shale containing about 1 percent V205 was developed on a laboratory scale by the Bureau of Mines. The process essentially is comprised of salt roasting, leaching with dilute sulfuric acid, solvent extraction, and precipitation of vanadium as ammonium metavanadate. Carbonaceous unweathered shale was less amenable to treatment. A preliminary cost estimate for mining and processing 1,500 tons per day of weathered shale indicated a production cost of about 1 dollar per lb of V205. Considering recent sales at nearly $1. 75 per lb of contained V205, larger scale testing to obtain more definitive process design and evaluation data may be warranted.

Jan 1, 1974

By B. W. Gandrud, G. T. Bator

The recent introduction of small coal jigs in Alabama to meet the needs of truck - mine operators for cheap and economical cleaning equipment marks another step in Alabama's pioneering record in the mechanical cleaning and preparation of coal . During the past 4 or 5 years a number of these small jigs , with capacity of 5 to 10 tons per hour , have been installed at Alabama truck mines and at a few truck mines in Illinois , Tennessee , and Pennsylvania . Most of the installations have been at mines that specialize in the production of domestic , stoker coal . This report describes three models of small jigs and includes performance data obtained recently on one of the models by the Bureau of Mines, United States Department of the Interior , in cooperation with the University of Alabama, Tuscaloosa , Ala . , for the purpose of comparing it with fullsize jigs on a performance basis . With literally hundreds of truck mines now in operation throughout the country , it has been assumed in preparing this report that there is widespread interest in the availability of small - scale inexpensive preparation equipment for use at such mines in the production of steam and domestic coal and in some instances coal for manufacture of coke . Practically none of the coal from Alabama truck mines is scld to coke - oven plants ; but in some sections of the country truck mines supply a considerable amount of coking coal, and the use of small, inexpensive washers at some of them might be very advantageous during the present war emergency from the standpoint of increasing pig - iron production through improvements in coke quality .

Aug 1, 1943

By Yingbao Yang, Jinyue Liu, Yonggang Wei, Bo Li

Due to the depletion of copper ore with high-grade and low impurity contents, the raw materials for copper smelting exhibit low copper contents and high impurities. High-impurity elements lead to the poor performance of the final copper product; thus, the removal of impurity elements during the oxygen-enriched copper smelting process is crucial. In this study, based on the production of high-grade matte, the occurrence states of impurity elements (such as As, Pb, and Zn) are analyzed in the input and output materials of the oxygen-enriched smelting process, and the phase transformation mechanisms of impurity elements are revealed during the oxygen-enriched smelting process. The effects of temperature, Fe/SiO2 ratio and oxygen concentration on the distribution behaviors of impurity elements in dust, slag and matte and the removal rates of impurity elements in matte are clarified. The results show that the impurity elements mainly exist as As4, As4S4, As2O3, Pb, PbS, PbO, Zn and ZnS in dust, as FeAsO4, As2O3, FeAsS, PbSiO3, Zn2SiO4 and ZnFe2O4 in slag, and as As, FeAsS, PbS, PbO and ZnS in matte. High smelting temperature, low Fe/SiO2 ratio and low oxygen concentration are beneficial for improving the matte grade and the removal rates of impurity elements Pb and Zn in matte. Low smelting temperature, low Fe/SiO2 ratio and high oxygen concentration are beneficial for removing impurity element As in matte.

Aug 8, 2023

By W. L. Acherman

Molybdenum, tungsten, and vanadium were found by the Bureau of Mines to possess generally superior chemical and galvanic corrosion properties in many aqueous corrosive media at temperatures up to the boiling point. The corrosion resistance of vanadium in certain solutions was further improved by alloying it with such metals as columbium, tantalum, and titanium. was susceptible to a type of crevice corrosion in mercuric chloride solutions, but no other instances of crevice corrosion were encountered. With few exceptions, molybdenum, tungsten, and vanadium were not adversely affected when coupled with dissimilar metals in galvanic corrosion experiments; in some cases one or both members of a couple were protected by contact. When exposed to aqueous ammonia spray at 60° C, all three metals were attacked, but they were moderately resistant in spray environments of substitute ocean water and ammonium dihydrogen phosphate.

Jan 1, 1966

By Arthur Crowfoot

This paper describing t o concentrating practice of the Phelps Dodge Corporation, Morenci Branch, at Morenci, Ariz., is one of a series of articles on concentrating methods and posts being prepared by the Bureau of Mines. The Morenci concentrator, locally known as No. 6 concentrator, treats 5,000 dry tons of ore per 24-hour day by primary tabling followed by two stages of flotation treatment, at 48-mesh size and 65-mush size respectively.

Jan 1, 1931

By N. S. Dalal, Xianglin Shi

"Electron spin resonance (ESR) measurements provide direct evidence for the involvement of Cr(V) in the reduction of Cr(VI)· by NAD(P)H. Addition of hydrogen peroxide (H2 O 2) to NAD(P)H-Cr(VI) reaction mixtures suppresses the Cr(V) signal and generates hydroxyl (·OH) radicals (as detected via spin trapping), suggesting that Cr(V) reacts with H2O 2 to generate the ·OH radicals. Reaction between H2O 2 and a Cr(V)·glutathione complex, and between H2O 2 and several Cr(V)-carboxylato complexes also produces ·OH radicals. These results suggest that Cr(V) complexes catalyze the generation of ·OH radicals from H2O 2, and that ·OH radicals might play a significant role in the mechanism of Cr(VI) cytotoxicity. KEY WORDS: ESR. spin trapping, Cr(VI) reduction, Cr(V), hydrogen peroxide, free radicals.INTRODUCTIONThis communication reports an ESR spin trapping detection of hydroxyl ( OH) radicals.in reactions between some Cr(V) complexes containing biologically important ligands and hydrogen peroxide (H2O 2 ). This work was undertaken because while the reduction of Cr(VI) to lower oxidation states has been suggested as a key step in the mechanism of Cr(VI) toxicity, the reaction· mechanism is not yet clear. 1 Mutagencity has been well documented for Cr(VI) via various bacterial assays, while Cr(III) has been shown not to be mutagenic.2 • 3 Since it has been reported that compounds containing Cr(VI) do not react with isolated DNA,4 the reduction of Cr(VI) by other cellular constituents has been thought to be important in the mechanism of Cr(VI) induced DNA alteration.1·4 • 5 For cellular systems earlier studies include those on the reduction of C~(VI) by microsomes,6-8 rat liver DT-diaphorase,9 and aldehyde oxidase. 10 Regarding the reduction mechanism, Jennette used ESR spectroscopy to show that a long-lived Cr(V) complex is formed as an intermediate in the microsomal reduction of Cr(VI) in the presence of NADPH.8 She postulated that Cr(V) is the ""ultimate"" carcinogenic form of chromium compounds. This conclusion has led to many further investigations of the formation of Cr(V) in the reduction of Cr(VI) under biologically relevant conditions.11 - 19 More recently, however, it has been suggested that oxygen-derived radicals generated during the Cr(VI) reduction are the species responsible for the DNA alteration.20.2• To the best of our knowledge, however, no information is available on the generation of such radicals in the reduction of Cr(VI) under biologically relevant conditions, except some preliminary results on the glutathionyl (GS·) radical formation in the reduction of Cr(VI) by glutathione (GSH). 11 - 19 We, therefore, undertook a systematic investigation of the reaction of Cr(VI) with NAD(P)H, GSH, ix-hydroxycarboxylic acids, and H2O 2 • NADPH was chosen as a model reductant because of its ubiquitous existence inside the cells, its critical role in the enzymatic Cr(VI) reduction,1·6-9 its representation of important cellular Cr(VI) reductants, and its ability to reduce other metal ions.22 GSH was chosen as another model Cr(VI) reductant because GSH also exists inside cells, it represents another important category of cellular Cr(VI) reductants, the thiols, and it also plays an important role in the Cr(VI) toxicity .1• 1 ""- 19.i3.i4 For further clarification, we also studied the reaction of Cr(VI) with several '1'.-hydroxycarboxylic acids in the presence of H2O 2 since these acids are definitively known to reduce Cr(VJ) to form stable, isolable Cr(V).25 .2 6 The results obtained indicate that Cr(V) complexes, produced in the reduction of Cr(VJ) by cellular reductants, react with H2 O 2 to generate ·OH radicals, which might be the initiators of primary events in Cr(VI) carcinogenicity."

Jan 1, 1990

By W. E. Robinson

Oil-shale kerogen was processed into oil and oil products before the first oil well was completed by Drake in 1859. However, because of economic and other advantages, natural petroleum has been the principal source of liquid fuels and lubricants since 1859 and is a convenient root of many [organic] chemicals in common use today. In recent years the difference has narrowed between the cost of producing liquid fuels from well petroleum and other sources. This narrowing of cost difference has resulted both from the increased cost of finding new sources of petroleum in the United States and the experimental demonstration of lowered costs for synthetic liquid fuels by the Federal Bureau of Mines and by industry. Available petroleum resources of this country are being reduced and eventually may be inadequate to meet the demand. Alternate means of assuring an adequate supply of liquid fuels for this country include the development of processes for utilizing other carbonaceous materials such as oil shale and coal.

Jan 1, 1960

By Arno C. Fieldner

From July 1, 1949, to July 1, 1950, the Bureau of Mines conducted the research and technologic work on coal and coal products that is summarized in this report. The research, described in this fifteenth of a series of resumes, is presented in more detail in publications (see footnote references) that appeared during the fiscal year, though in some cases research data are given that have not been published elsewhere. Results of research in the experimental coal mine, on explosives, and on gas and dust explosions will be found in Bureau of Mines Report of Investigations 4228, Annual Report of Research and Technologic Work on Explosives, Explosions, and Flames, Fiscal Year 1950. An over-all view of our coal, oil, end natural-gas reserves was presented, and the future possibilities for the, production of synthetic liquid fuels from coal were delineated.3/

Jan 1, 1951

By N. A. C. Smith, A. C. Fieldner, R. R. Sayers

Gases and vapors given off by petroleum and its products have long been recognized as somewhat injurious, when inhaled in high enough concentrations. The petroleum industry has recognized these effects and has tried to minimize the possibility of employees encountering dangerous concentrations of the vapors. Petroleum gases and vapors have not, however, been considered as actively poisonous, in the sense that hydrocyanic (prussic) acid and phosgene are poisonous; men have been exposed to them repeatedly, and for long periods, without any marked ill effects. Light Mexican crude oil when first introduced into the United States for refining was handled in much the same way as was customary with other apparently similar crudes; but experience soon showed that some toxic substance escaped from the crude during production and transportation and in most of the refinery operations. After a preliminary investigation several of the larger companies decided that the gases from the petroleum were the source of trouble, and therefore took precautions, wherever possible, to protect the men from exposure to these gases. With the increasing use of Mexican crude, this problem has become important. The present report covers the work done on the subject by the Bureau of Mines and the Public Health Service under a cooperative agreement with the American Petroleum Institute.

Jan 1, 1925

By Q. Han

A modified cast-on method has been developed to reinforce aluminum castings with steel insert. Defect-free bond between the steel insert and the aluminum casting has been consistently obtained. Data obtained from a push-out experiment indicated that the bond strength was much higher than that obtained using the Al-Fin approach. This paper introduces this modified method in four sections: the coating of the steel pins, the cast-in method, microstructure characterization, and the bond strength. The section on the coating of the steel pins contains coating material selection, electro-plating technique for plating Cu and Ni on steel, and diffusion bonding of the coatings to the steel. The section on cast-in method deals with factors that affecting the quality of the metallurgical bond between the coated steel and the aluminum castings. The results of microstructure characteristics of the bonding are presented in the microstructure characterization section. A push-out experiment and the results obtained using this method is described in the section of bond strength/mechanical property.

Jan 1, 2015

By WenFeng Li

A 3D roof bolt model with the consideration of rebar, resin, bearing plate, and resin/rock interface was developed for studying the bolt/rock interactions of the tensioned and fully-grouted resin bolts. For the tensioned bolts, 2 ft compressive zone above the rooflineis generated by the 10 tons pretension. Since the free portion of the tensioned bolts displays a higher vertical stress, the increase of the bearing capacity of the rocks in such range is much larger. For the fully grouted resin bolts, despite no pretension is generated during installation, the roof sag can indirectly generate a compressive zone near the roof line. In addition, the analysis on the differences in bolt/rock interactions when employing the tensioned or fully-grouted resin bolts indicates that the fully-grouted resin bolts are preferred as the primary support when weak and thinly-bedded immediate-roof is present. Meanwhile, it is found that both the tensioned and fully-grouted resin bolts may have very limited effect in preventing and/or control the cutter roof.

Jan 1, 2014

By Koji Matsubara, Yoshiaki Iguchi, Shoji Hayashi

Iron ore particles of a limonite iron ore were reduced completely with H2 at 1023K to 1273K in a fluidized bed. Then, at 973K, the formed iron was exposed to HrH2S mixtures (sulfur activity, as=0.5) for 3.6ks and carbidized with CO-H2-H2S· mixtures at 0.1 MPa. During the carbidization, the particles of about 150mg were sampled at every 600s interval. The sampled particles were analyzed by XRD and chemical analysis for C and S to evaluate the content of Fe3C, Fe5C2, Fe and free carbon. The reaction extent is defined as fo=Xfc3C +xFc5c2; x is the molar fraction of Fe in Fe3C. The carbidization curves can be fitted very well to -ln(l-f0)=g(pb T)t; g(p; T) is the carbidization rate, i.e. the carburization rate on the pore surface of reduced iron. The rate is found to be nearly proportional to the specific surface area of reduced iron, a P 0 , which decreases with increasing the reduction temperature. The value of a P 0 does not change by the carbidization and the stability of the iron carbide product in the atmosphere increases with the temperature.

Jan 1, 2000

By T. Y. Chong, J. A. Folinsbee

Since milling began in 1909, the PJV Dome mill has been expanded several times, to the current throughput of 11,500 tonnes per day. PJV recovers free gold using crushing and grinding followed by gravity concentration. The remaining gold in the gravity tails is recovered by cyanide leaching followed by Carbon-In -Pulp processing. Prior to 1993, cyanide tailings were impounded in the tailings pond where cyanide was allowed to degrade naturally. Effluent was discharged seasonally during the summer and early autumn to maintain the water balance. In 1993, an Effluent Treatment Plant (ETP) was designed and constructed for the purpose of removing dissolved metals and suspended solids. In 1997, an INCO SO2/Air cyanide destruction process was added to the ETP. Even though the ETP was successful in meeting the cyanide, metals and total suspended solids (TSS) discharge limits, often the treated effluent failed to pass toxicity tests. Following successful laboratory and plant scale testing, the addition of the chelant EDTA (ethylene diamine-tetra-acetic-acid) was commenced in the 1999 operating season. To date, discharged effluent has passed all toxicity tests. This paper describes the evolution of the ETP from its early conception to the various phases of upgrade needed to meet the MISA discharge limits.

Jan 1, 2005

By Bertha R. Klahold

"In response to numerous inquiries regarding tests and analyses of minerals and related inorganic materials; Bureau of Mines Information Circular 6999, ""Laboratories That Make Fire Assays, Analyses, and Tests on Ores, Minerals, Metals and Other Inorganic Substances,"" by C. W. Davis and M. W. von Bernewitz, was published .in 1938 and revised in 1939 (I. C. 6999R). In this paper on analytical and testing laboratories, the original text has been rewritten and expanded, and a table has been added, in which are listed laboratories prepared to offer a number of special testing services in addition to ordinary assays and chemical analyses. The arrangement of laboratories on, a geographical basis has been maintained.This circular is compiled as a public service, and none of the laboratories listed herein is recommended over any other,These lists were compiled from questionnaires sent to organizations whose work is connected with mineral and metallurgical testing. The response in general was very satisfactory, and the author takes this opportunity to express her appreciation to the officers of the listed laboratories for their cooperation.Acknowledgment is also made of the valuable assistance of the members of the technical staff particularly Morris Slaving/ of the Eastern Experiment Station of the Bureau of Mines at College Park, Md., in the preparation of the questionnaire and technical descriptions.Many mineral samples are sent to government agencies in the National Capital with the request that they be assayed or chemically analyzed. It should be emphasized that there is no place in Washington D. C. where assays and quantitative analyses are made for the public b the Federal Government.Virtually all of the States maintain a bureau of mines, a geological survey, or some similar organization, frequently at the State University, where minerals found by residents of the State will be identified free of charge. Usually, a charge is made for assays. Specific tests, as on clays, are made by some of these offices.The Federal Bureau of Mines, although it attempts to avoid duplication of services rendered by State Bureaus, is always glad to give advice as to prospective markets. It does not compete with private assayers and chemists, but with respect to samples sent to its field laboratories, it does offer to identify them as far as this can be done by inspection and simple optical and chemical tests. This examination is usually sufficient to indicate whether the material has commercial value, or at least if the expense of an assay would be warranted. Except in connection with its own technical investigations, no assays or other special tests are made by the Bureau of Mines.The Federal Geological Survey and the National Museum also make simple tests of specimens as a public service. Neither of these bureaus nor the Bureau of Mines, however, can afford to render such services on long suites of specimens submitted by mineral dealers, well drillers, or others, when such work can be done regularly by commercial concerns."

Oct 1, 1949

By H. C. Fuller, E. L. Anderson, F. S. Wartman, M. A. Cook

"This paper gives an account of the production of ductile-grade titanium powder in 100-pound batches by reduction of purified titanic chloride with magnesium, followed by grinding, leaching, and magnetic separation of the reaction product. Apparatus, technique, and methods of controlling product quality are described, and some data on operating costs are given.Although man has been aware of the existence of the element titanium for over 150 years, only recently has the metal itself been available in a form pure enough, particularly with reference to absorbed gases, to allow an estimate of its physical properties. In comparison with mild steel, the tensile strength of titanium is about the same, the resistance to atmospheric corrosion greater, and the specific gravity much less.These properties suggest the usefulness of titanium as a structural material for applications requiring resistance to atmospheric attack and a good strength-weight ratio. Although known reserves of titanium, high-grade enough to be useful at present are not sufficiently extensive to predicate that titanium might supplant iron, aluminum, and magnesium for structural purposes, the reserves are large enough to make its use as a structural material quite feasible in certain fields in which its unique properties are required.As a result of these considerations, the Bureau of Mines station at Tucson initiated an, investigation into the technology of titanium in 1938. First, a critical survey and small-scale trial of virtually all suggested methods7/ for producing the metal was made. The method devised by Kroll8/ seemed best adapted as a source of metallic titanium for, although the purity of the product was not as high as that of products from some other processes, it seemed that modifications in technique necessary for larger-scale production could be made more easily.Essentially, in applying the Kroll process, titanium tetrachloride was reduced to metallic titanium by adding the chloride slowly to molten magnesium contained in a molybdenum-lined iron reaction chamber filled with a protective atmosphere of argon. After reduction to the state of completion desired, the reduction mass and chamber were allowed to cool. Then the chamber was opened, and the reaction mass, consisting of titanium, magnesium chloride, and some unused magnesium, was removed by suitable means. Most of the magnesium chloride and metallic magnesium were removed by leaching in dilute hydrochloric acid. The leached sponge was then ground wet in a ball mill, releached in strong acid, and dried Removal of free iron by magnetic separation completed the production process.Development of the Kroll process by the Bureau was undertaken first at the station at Salt Lake City, in 1942 and the amount formed per run was increased in several steps from a few grams to pounds.9/ In addition to increasing the size of batch over that used by Kroll, the technique was simplified somewhat by the use of unlined reaction vessels."

Aug 1, 1949

The 1963 Lignite Symposium was held on the University of North Dakota campus, Grand Forks, N. Dak., April 30-May 1, 1963, under the cosponsorship of the University of North Dakota and the Bureau of Mines. This symposium, the third in a series, had as a general objective the dissemination of information concerning advances in technology and utilization of solid fuels, with emphasis on lignitic coals. Approximately 150 representatives of industry, government, and educational institutions from 21 states and 3 Canadian provinces were present at the symposium. Those attending were welcomed by Marling J. Ankeny, Director of the Bureau of Mines, representing the Bureau, and Dean T. H. Clifford, Vice President of the University, representing the University.

Jan 1, 1964

The 1963 Lignite Symposium was held on the University of North Dakota campus, Grand Forks, N. Dak., April 30-May 1, 1963, under the cosponsorship of the University of North Dakota and the Bureau of Mines. This symposium, the third in a series, had as a general objective the dissemination of information concerning advances in technology and utilization of solid fuels, with emphasis on lignitic coals. Approximately 150 representatives of industry, government, and educational institutions from 21 states and 3 Canadian provinces were present at the symposium. Those attending were welcomed by Marling J. Ankeny, Director of the Bureau of Mines, representing the Bureau, and Dean T. H. Clifford, Vice President of the University, representing the University.

Jan 1, 1964

By M. N. Rubin

This report summarizes the work performed under USBM contract J0100018. The purpose of this work was to document the currently available noise control techniques that can be incorporated into new coal preparation plants during the design stage. This was accomplished by reviewing the related experience of the contractor and subcontractor (Bolt Beranek and Newman Inc.), conducting an extensive literature search, visiting operating coal preparation plants, and contacting various equipment manufacturers. The treatments addressed include equipment substitution, changes in plant layout, and retrofit treatments for existing equipment.

Jan 1, 1982