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By John R. Bogert

The title of this session is "Wall Street Looks at the Mining Industry," and I am going to attempt to answer the question: Shouldn't Mining Stocks Sell at Higher Price Levels? Or, What Does Wall Street See When Looking at the Mining Industry? Well, it sees a capital intensive business, a technical industry, and a growing industry becoming more vertically integrated. But, at the same time, Wall Street sees a cyclical industry, a fragmented industry of erratic earnings, spotty public relations, a feast-or-famine business where the public usually does not differentiate between coal mining or metal mining, and does not appreciate either the risks or the rewards. As a result, mining stocks generally sell at relatively low price learnings ratios in comparison to other industrial groups. This PIE ratio, the current market price of the capital stock divided by annual earnings per share, is probably the most popular index of a stock's value. The average of the price/ earnings ratios of the 30 stocks comprising the Dow Jones Industrial Average is over 14. This diverse group of stocks is widely regarded as being a cross-section and representative of the industrial companies listed on the New York Stock Exchange. However, in comparison to 14, Asarco and Kennecott shares are currently available for about 8 times annual earnings. Even discounting earnings from South America, the stock of these two companies sells at only 10 times earnings. Of course, Peruvian politics is currently preventing Cerro shares from selling above 6 times earnings, and Chilean politics keeps Anaconda shares at a PIE multiple of 7. However, even in better times, these companies rarely sell above 10 times earnings. American Metal Climax and Newmont sell at only 11 times earnings as does Phelps Dodge and St. Joseph Lead. Few mining companies then have what can be considered a high PIE ratio-a figure higher than

Jan 1, 1970

By J. A. Bartnik

Flocculation, the process of coagulation or coalescence of finely divided particles, is commonly used in separating fine solids from fluids. Forces disposing of the particles to flocculate include: ionic forces of attraction, secondary entropic forces, and magnetism. Magnetic flocculation is due to a physical magnetizing process which affects suspended ferromagnetic particles. Such particles, after exposure to magnetic fields strong enough to cause reorientation of the particles and alignment of the induced magnetic poles, tend strongly to retain this induced magnetism, as the magnetic retentivity of ferromagnetic particles is a linear function of its specific surface.1 Thus, because they become small magnets with high residual magnetism, the particles become and remain attracted to one another, forming large agglomerates. Fine magnetic particles close to domain size can exhibit energies of the magnetization of the order of 105 ergs/cm3,2 which is many times greater than the energy affected by chemical flocculents. Therefore magnetic flocculation can be used to agglomerate particles having surfaces ionized with like charges and only a minute quantity of ferromagnetic material will be necessary to develop sufficient force to overcome the repulsive ionic forces and hold together relatively large masses of fine solid agglomerates suspended in fluids. Since flocculation occurs after the fine suspension passes through a magnetic field generated by magnets surrounding a pipe section, the simplicity of the process and economic advantage makes magnetic flocculation very attractive.

Jan 1, 1971

By Russell L. Dahl

In a continuing effort to improve plant efficiency, United States Steel's Atlantic City Ore Operations completed the rubber lining of its balling drums in late 1982. This resulted in benefits of reduced bentonite consumption, reduced maintenance costs, improved production rates, and lower power consumption. These advantages far outweigh the disadvantages of increased oversize production and increased surging on the roll screen sizing devices. Certain operating characteristics and variables are discussed herein.

Jan 1, 1983

By J. R. Arnold

The problem of recovering gold from a cyanide solution has been plaguing metallurgists since the cyanidation process was discovered in Glasgow, Scotland.1 The "perfect" method has never been found and this paper will not purport to fill that gap. But we, at Gold Fields, feel that we have developed a workable, cheap and efficient method of producing a refinery - ready product that has several distinct advantages over conventional electroplating techniques. The Gold Fields replating system is presently being used at their Ortiz and Mesquite operations. In short, the system electroplates the gold out on stainless steel wool, instead of mild steel wool as is usually done, then replates the gold by reversing the current onto stainless steel plates. By doing this the steel wool can be reused many times, the gold can be scraped off the plates cleanly and quickly, the operating costs are reduced and the slag production is greatly reduced.

Jan 1, 1986

By Ronald W. May

The Lower Cretaceous McMurray Formation in northern Alberta contains bituminous sands interbedded with other sediments which form the reject encountered during mining operations. Grade prediction is based on a combination of geological interpretation, computer modelling and past mining experience. In addition to estimates for ore, an accurate estimate of "waste" or "reject," are required for Mine Planning. This study investigates the ability of point-kriging using geostatistics, to augment the existing data base of drill-holes in a study area on Syncrude's leases. This approach enables the assessment of potential "worst" case - "best" case scenarios within the context of Mine Planning.

Jan 1, 1985

By PAITIP THIRAVETYAN, KANJANA KUDPENG

The aim of this study was to investigate the influence of amino acids (glycine, aspartic acid, glutamic acid, lysine and tryptophan) and organic acids (citric, malic, tartaric, fumaric, oxalic, succinic and ascorbic acid) on gold extraction from silicate ore. Use of amino acids to extract gold was preferred compared with organic acids due to the presence of carboxylic group and amine groups in amino acids. Among the assessed amino acids, aspartic acid and glutamic acid had higher capacities to extract gold due to their structures, which lacked aromatic rings and long side chains. Organic acids could also extract gold. In particular, oxalic and succinic acids had the greatest capacity to extract gold versus the other tested organic acids. Moreover, aspartic acid had a greater capacity to extract gold from ores than the same concentration of succinic acid. We confirmed the aspartic acid and succinic acid functional groups by Fourier transform infrared spectroscopy. The findings revealed that aspartic acid had a greater capacity to extract gold than succinic acid due to the presence of both amine and carboxylic groups (succinic acid contained only a carboxylic group). The optimal gold:aspartic acid molar ratio was 1:6 and low concentrations of aspartic acid extracted 35–42%of gold from silicate ore within 15 days. This can be used as an alternative to traditional methods for extracting gold from ore; it is non-toxic to human health and environmentally friendly.

Aug 10, 2021

By W. A. McKinney

In conventional dump leaching of porphyry mine strip wastes, many years are required to extract up to 20 percent of the copper from the contained sulfide minerals. Furthermore, none of the molybdenum, gold, or silver in the strip wastes is recovered by current leaching practices. Because mineralization occurs predominately along fracture planes, breaking of the rock during mining operations liberates and concentrates some of the metal values in the fines. Research shows that upgraded fines can be screened from mine wastes and froth floated for early recovery of copper, molybdenum, gold, and silver. For example, screening a dump sample assaying 0.35 percent copper as chalcopyrite removed about 20 percent of the copper as minus 1/4-inch material that analyzed 0.6 percent copper. About 35 percent of the molybdenum and 20 percent of the gold and silver also reported in the fines. Crushing the mine dump sample to minus 3 inch before screening increased the distribution of copper and molybdenum in the minus 1/4-inch screen fraction to 28 and 50 percent, respectively. Similar results were obtained by screening fines from two other large samples of mine waste dump materials. Flotation studies established that the enriched minus 1/4-inch fines from the three dump samples could be effectively concentrated. Comparative testing revealed that the combination of froth flotation of fines and acid-ferric sulfate leaching of the coarser fraction enabled doubling the recovery of copper over direct leaching of the samples. In addition, significant amounts of molybdenum, gold, arid silver were recovered by flotation.

Jan 1, 1970

By N. J. Themelis, W. H. Dresher

Research is probably the least understood and the most underrated or overrated, depending on the circumstances, function of the corporate enterprise. Some companies become engaged in research because they consider it to be vital to their very existence, others in order to develop new business, and some with no clearer objective than to keep up with the competition. Whole new industries have resulted from research activities, such as the Xerox copier, the transistor, the computer, and have affected considerably our way of life. Companies have prospered or perished by pursuing the successes or failures of their research organizations. However. despite the tremendous effect that research has had on our modern civilization and the billions which are spent on it annually, we have not as yet been able to develop many hard and fast rules as to how to conduct it effectively and to a successful end.1 This section discusses the role of research in the United States and in the mineral industry and describes a few of the criteria and guidelines which have been developed to assist in increasing the probability for success in industrial research. Broadly speaking, the purpose of industrial research is to make a significant contribution to the long-term viability and the profitability of the sponsoring company. The sum total of technological developments has been a principal factor in establishing the United States as a world leader and the controlling element in the nation's balance of trade with foreign powers. The international aspect of most mineral commodities is a significant factor in the business decision-making of most domestic mining companies and should be an important factor in the operation of research and development (R & D) programs in these companies. The National Science Board has reported that in recent yean other nations have been gaining on the United States over practically the entire range of science. 2,3 On the positive side, the NSB reported a strong position for the US in the results derived from its investment in R & D. If the United States is to maintain a favorable trade balance, it must create new know-how through technological innovation in order to create new industrial products, processes, and services for which there is a global demand. As expressed by Chauncey Starr, president of the Electric Power Research Institute, "Unlike resources found in nature, technology is a man-made resource whose abundance can be continuously increased, and whose importance in determining the world's future is also increasing."' In recent years, the greatly in- creased pressures for environmental quality and energy conservation have enhanced further the role of technical innovation in insuring the future survival of the domestic industry. Technology is the challenge of American industry, and it is a challenge which the mineral industry must also accept, for processed minerals are the very raw materials and energy on which all of industry is based, it is technology which makes a mineral deposit into an ore reserve. The Natural of Industrial R D Research is usually thought of as being either basic or applied. Basic or fundamental research is the quest for knowledge and need not have any practical objective. Applied research is the search for a solution to a particular problem and therefore has a specific objective beyond the acquisition of new knowledge. Development is the next stage to the applied research experimentation and it generally consists of larger-scale tests to establish the technical and economic feasibility of the new process or product and to provide design information for its industrial implementation. The terms research and development are usually interconnected for the good reason that in many cases it is difficult to define where one ends and the other begins. For instance, in many cases, thermodynamic, kinetic, corrosion, and other research studies, which are needed to provide design data for an industrial plant, may prod in parallel with the pilot plant activities preparatory for this plant in order to conserve time. Often the final stages of a development project may involve the trial production of a new product for markeing tests or the trial operation of a new process on a "semi-industrial" scale pilot plant. Such operations may be termed "demonstrations"; hence, more

Jan 1, 1985

By Mark C. Williams, Thomas P. Meloy

Particle shape characterization is a complex task made more difficult because of the human eye's sophisticated recognition of shapes, giving rise to the assumption that shape analysis is considered a simple problem. Further exacerbating the problem is the question of whether particles have a general shape. Old and new shape measuring techniques are discussed, particularly the new image analysis methods techniques such as Fourier, Haar, Walsh and Delta. Problems with the current image analysis equipment and future research equipment needs are presented.

Jan 1, 1989

"The 33rd annual American Mining Hall of Fame Awards Banquet and Fundraiser sponsored by the Mining Foundation of the Southwest (MFSW) will be held at the JW Marriott Tucson Starr Pass Resort & Spa on Saturday, Dec. 5, 2015. Each year, one living Hall of Fame inductee, two Medal of Merit recipients, several honorees from Mining’s Past, an Industry Partnership Award and a Special Citation are recognized for their respective contributions to the mining industry.Conrad E. Huss, cofounder of M3 Engineering & Technology Corp. located in Tucson, AZ, will be honored as the 2015 Hall of Fame Inductee and will serve as the keynote speaker at the awards banquet. Huss has served his company as chairman of the board for its entire 30 years and guided M3 to become a full discipline firm. Now M3 offers complete project execution through engineering, procurement and construction management procedure and has become a major engineer of large observatories around the world. The company now has more than 1,000 employees with offices in Arizona, North Carolina, Mexico, Argentina and is incorporated in Guatemala, Peru and Canada.The Medal of Merit will be awarded to Charles Michael (Mick) Lownds, founder of his eponymous consulting firm in Salt Lake City, UT, for his 42 years in commercial explosives following tenure at Sasol and at Orica. Originally from South Africa, Lownds immigrated to the United States in 1998 and has made significant advancement on electronic initiation systems. Lownds has published numerous technical papers, is an inventor with 12 awarded United States patents and was also the recipient of the President’s Award from the International Society of Explosives Engineers in 2000.Medal of Merit for young professionals will be awarded to Fiorella Giana, Freeport- McMoRan Inc.’s (FCX) mine manager at Bagdad. Born in Buenos Aires, Argentina, Giana left the small cattle farm where she was raised in 2001 to pursue higher education in the United States. For the past decade at FCX, as a result of her extraordinary combination of technical skill, leadership and commitment to excellence, she has been given positions of progressively greater responsibility from an entry level engineer to senior mine engineer, to chief engineer and now as mine manager, a position rarely held by woman."

Jan 1, 2015

By L. T. Larson

Had the blank on the Abstract form been sufficiently spacious a more appropriate title for this paper would be: Neogene Tectonism, Magmatic Activity and Hydrothermal Precious Metal Mineralization in Anatolian Turkey; an Analog with the Basin and Range Province of the Western U.S.? Like the alternative title no thing in Turkey is simple. Its history is long and convolute; its culture fascinating; its metallogeny diverse and its geology very complex. This paper will focus only on the geology of western' Anatolia and the precious metal potential of this third of Turkey. The argument is in the article but to save the reader time and suspense I'll put my conclusions up front- the potential is great and the possibilities exciting.

Jan 1, 1989

By Andrew Hall

Many Latin American countries are facing a scarcity of water. As such, infrastructure decisions are quite different from those made in parts of the world that experience a positive water balance. In the latter case, the water treatment approach tends to be ?treat and discharge.? For Latin American regions facing the challenges that go with a negative water balance, the focus is on resource optimization and reuse. Historically, the water challenge has had a significant impact on economic development in Latin America, especially in sectors such as mining, where water usage is high. At the same time, countries such as Chile and Brazil are major development targets for mining and oil and gas operations. Given the water supply challenge, industry is increasingly turning to technologies and processes that maximize water recovery and reuse. With sulfide precipitation and ion exchange water treatment processes for example, it is possible to treat and recover more than 99 percent of water for reuse onsite. These technologies have been applied successfully in other regions of the world where water conservation practices are essential to economic survival.

Jan 1, 2012

"The 35th Annual American Mining Hall of Fame Awards Banquet and Fundraiser, sponsored by the Mining Foundation of the Southwest (MFSW), will be held at the JW Marriott Tucson Starr Pass Resort & Spa on Saturday, Dec. 2, 2017. This year, the Foundation will honor one living Hall of Fame inductee, two Medal of Merit recipients, four honorees from Mining’s Past and an Industry Partner for their respective contributions to the mining industry.Gary J. Goldberg will be the 2017 Hall of Fame Inductee and will serve as the keynote speaker at the awards banquet. Goldberg was appointed president and chief executive officer and joined the board of directors of Newmont Mining Corp. in March 2013. Prior to this appointment, he served numerous companies in key positions including Rio Tinto Minerals, US Borax and Coal & Allied Industries. At every appointment, he was able to improve safety concerns and reduce injury rates. While serving as chairman of the National Mining Association, Goldberg launched the CORESafety initiative and US Borax was the first mining company to receive the California Governor’s Environmental and Economic Award.The Medal of Merit will be awarded to John C. Lacy, a shareholder of DeConcini McDonald Yetwin & Lacy, P.C. and a director of the Global Law Center at the University of Arizona’s Law School. Lacy’s law practice concentrates on mining and public land law and encompasses transactional and title consideration involving acquisition of mineral rights. He played a crucial role in the revisions to the mining law of the Republic of Bolivia and the English translation of the mining laws and regulations of Mexico. Lacy’s expertise in mining law impelled the University of Arizona James E. Rogers College of Law to approach him to head the new Global Mining Law Center in 2015. The program now partners with the Lowell Institute for Mineral Resources and offers cross-listing of courses"

Jan 10, 2017

By K. KAKLIS, O. SAUBI, Z. Agioutantis, R. JAMISOLA

Machine learning in the form of artificial neural networks was applied to investigate whether specimen load evolution can be predicted as a function of acoustic emission (AE) signals in the case of three-point bending (TPB) marble specimens instrumented with piezoelectric sensors. The ultimate objective of this study is to develop a model that can quantify rock behavior under loading that can lead to rock-failure prediction in underground structures subjected to bending, such as roof failure in development or production openings.

Nov 1, 2022

By Y. Pan, P. Tukkaraja, R. BHARGAVA, V.V.S. VYTLA, S.J. SRIDHARAN

Panel caving is an underground bulk mining method that uses gravitational force to mine massive, steeply dipping and deep-seated ore deposits at lower operating cost. To control dust and gas emissions entering the production level during the extraction of ore from the draw points in a panel cave, relatively negative pressure is created in the cave by installing an exhaust fan in the exhaust drift located on top of the cave. As caving is a dynamic process, designing an effective ventilation system is challenging; therefore, estimating the airflow resistance offered by the broken rock inside the cave is critical. This study investigates the effect of changes in the bulk porosity of the broken rock on the cave airflow resistance using the computational fluid dynamics (CFD) approach. The results show an inverse relationship between the cave airflow resistance and the bulk cave porosity. The pressure-quantity characteristic curves presented in this paper provide valuable information for sizing and operating an exhaust fan used for a mature panel cave ventilation.

Nov 1, 2022

By Matthew Deutsch

A common casualty of modern openpit mine optimization is the assurance that the resulting design is actually achievable. Optimized mine plans that consider value and a bare minimum of precedence constraints do not, in general, translate into practical, operational mine designs that can be used in the field. Ultimate pits may come to a sharp point at the bottom. Schedules may require taking small parcels of material from many disparate areas of the pit in a single period, and grade control polygons may be ragged, narrow and not minable with realistic equipment. In this paper, these three fundamental openpit mine optimization problems are addressed by encoding them as maximum satisfiability problems. Maximum satisfiability provides a useful framework for problems that are nonlinear and may guarantee the optimality that metaheuristics cannot.

By J. J. Kellar

The near-infrared (NIR) (12,000-4,000 cm-1) region of the electromagnetic spectrum, between the mid-infrared and visible, has often been viewed by spectroscopists to be of limited utility. This is unfortunate, and recently the use of the NIR has increased greatly, primarily for the quantitative analysis of food and agricultural products. However, many other areas of application of NIR spectroscopy remain unexamined. In this paper a novel use of NIR in the area of flotation chemistry is demonstrated. Specifically, it is shown that NIR/Internal Reflection Spectroscopy (IRS) can be used to quantify collector adsorption reactions in-situ.

Jan 1, 1990

By Michael R. Grubbs

In most resource recovery plants the incoming solid waste material is first shredded and then air classified into a light and a heavy fraction. The light fraction which contains mostly paper, cardboard, etc., can be used either as a fuel for power generation or in the production of new paper products. The heavy fraction which remains consists mostly of glass, ceramics, wood, ferrous metals and non-ferrous metals. The ferrous metals may be removed from the heavy fraction by conventional magnetic separators. After primary shredding, most of the glass and ceramic is fine in size and may be screened away leaving a residue of wood, cardboard, and non-ferrous metals. This residual heavy fraction is the input material for the separator described in the present paper. A new metal separator was recently reported by t. Schlömann1. The author described the theoretical relationships and presented results of tests on samples of the residual fraction of municipal solid waste. This paper describes the operation of the metal separator and develops the basic separation relationships controlling the process.

Jan 1, 1976

By G. Biles

The Eskay Creek Mine, a high-grade gold and silver underground mine in northwestern British Columbia started operations in late 1994. For the first three years of operation, ore was crushed to minus 2 inch; blended to satisfy smelter terms and direct shipped to smelters in Japan and Canada. Before commencing the above operations, preliminary evaluations had indicated that an extremely complex metallurgical facility, requiring a large capital investment, would be required to recover the precious and other economic metals. Subsequently markets for raw ore were identified and underground mining and ore transportation operations, at a nominal production rate of 300 tonnes per day, were commenced. Exploration diamond drilling in 1995 and 1996 discovered additional lower grade mineralized zones, which are less economic or uneconomic as direct shipping ore. Testwork demonstrated that these lower grade zones could be upgraded to marketable concentrates in a simple flotation mill. The mill was built in 1997 and has been in operation since late 1997. The mining rate now has increased to 400 tonnes per day including 250 tonnes per day of the direct shipping ore and ISO tonnes per day of the mill ore. Prime Resources Group Inc. wholly owns the Eskay Creek Mine. Homestake Canada Inc. owns 50.6% of Prime's shares and manages and operates the mine on Prime's behalf. This paper discusses the mining and milling operations as well as ore shipment and smelter contracts' administration.

Jan 1, 1999

This paper reviews the historical literature and the author's experience with regard to the effect that the selection of grinding ball size or sizes has on ball mill grinding efficiency. The conclusions presented provide guidelines for single and multi-size charging prac- tices in commercial milling operations.

Jan 1, 1998