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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 Kazutoshi Haga, Atsushi Shibayama, Altansukh Batnasan

This study presents a viable approach for recovery of precious metals such as gold (Au), silver (Ag), palladium (Pd), and base metals, including copper (Cu), nickel (Ni), cobalt (Co), lead (Pb) and zinc (Zn) from waste printed circuit boards (WPCBs) via iodine-iodide leaching and precipitation. The behaviours of dissolution and precipitation of precious and base metals during iodine-iodide leaching and precipitation processes were discussed. Sodium hydroxide (NaOH) was used to remove base metal impurities exist in the pregnant leach solution under alkaline conditions. Precious metals remained in the resulting solution from NaOH precipitation were recovered by reduction using ascorbic acid (L-AA) solution. Results show that under optimum leaching conditions, almost all (> 99%) of Au was dissolved in an iodine-iodide solution when the dissolution efficiencies of other precious metals (Ag, Pd) and base metals, besides calcium (leaching of 25%) were less than 1 and 6%, respectively. The study revealed that more than 95% of Cu, Ni, Pb, Zn, Fe and Mn were initially removed from the pregnant leach solution at pH of 9.3 with addition of 0.1 M NaOH. Then 99.8% Au, 81.7% Ag and 74% Pd were precipitated from the obtained solution after NaOH precipitation while L-AA dose was 0.6 ml/ml at the condition. It can be concluded that the precious and base metals could be recovered selectively and economically from WPCBs via iodine-iodide leaching followed by precipitation using NaOH and L-AA.

Mar 1, 2018

By Juárez T. Julio Cesar, Mendez R. Eliecer, Reyes P. Martín, Flores G. Mizraim Uriel, Teja R. Aislinn Michelle, Hernández C. Leticia, Reyes D. Iván Alejandro

The present study shows the characterization of a zinc concentrate collected at Hidalgo, Mexico, in order to identify its mineralogical species and to propose a leaching methodology for silver recovery. The results obtained by X-Ray Diffraction (XRD) show Sphalerite (ZnS) as the mineralogical matrix and silver into the specie proustite (Ag3AsS3). The techniques of Scanning Electron Microscopy-Energy Dispersive Microanalysis (SEM-EDS) and Polarized Optical Microscopy (POM) identified the presence of sulfides of Fe, Cu, Pb and Zn, in addition to silicates and feldspar. The proposed dissolution method of Ag(I) was carried out with [S2O3 2−] = 0.5 M and [NaOH] = 0.1 M to regulate the medium at pH = 9 for 12 h at 298 K. Oxidation of the concentrate was favored by injection of O2 to a partial pressure of 1 atm. Monitoring of the reaction was carried out by reading the [Ag] and [As] by AAS.

Mar 1, 2017

By R. J. Sweigard, R. V. Ramani

Three case studies were undertaken to investigate the role of land use potential evaluation in reclamation planning and to determine the impact of regional differences on final land use plans. The three surface mines studied were representative of operations in the Appalachian, Interior, and Northern Great Plains provinces. The scope of the investigations included a survey of regional characteristics, a detailed investigation of the mining operations and site conditions, and an assessment of local land use planning activities in the area of the mines. Special attention was given to key factors that presently determine the use of reclaimed land. Also, for each case study, the postmining land use potential was evaluated using site planning principles. Specifically, the environmental, economic, and social impacts of several potential postmining land use plans were considered.

Jan 1, 1987

By Yoginder P. Chugh

Physical mine modeling and computer simulation techniques were used to conduct technical feasibility and economic analyses of selected pit configurations for surface mining a single coal seam dipping at about 15 percent to a maximum depth of 150 feet. The pit orientations along the dip (dipline), strike (strikeline) and along an apparent dip were studied. Physical models of each pit configuration were prepared first to delineate potential operational problem areas, and also to furnish a data base-for the computer simulation models. A dragline micro- simulation model (Fluor), a shovel/truck simulation model and a cost analysis model were used to conduct the study. Sensitivity analyses were conducted on variables such as the pit width, block length, and angle of dip. The productivity (Cu.yds/hour) of the mining equipment (dragline or stripping shovel) under each set of conditions was used to optimize the pit configuration. Both block length and panel width were found to significantly affect the dragline productivity larger size trucks were preferable to smaller size trucks in the pit configuration along an apparent dip. The cost analysis results showed that the pit configuration along the seam dip was more economical than the pit along the strike or along an apparent dip.

Jan 1, 1984

By Martin J. Gavin

During the recent study of lubricating oils carried on in the San Francisco laboratory of the United States Bureau of Mines, it became desirable to distill the oils used in the experimental work at pressures as low as 10 millimeters (mercury column) absolute. In the effort to Overcome difficulties and eliminate sources of error, certain changes were made in the apparatus for vacuum distillation used by the Bureau of Mines for crude petroleum.4 These changes were described in R.I. 2819, issued in July, 1927. Subsequent to the publication of R.I. 2819 several other changes have been made, and the present form of the apparatus for vacuum distillation of lubricating oils is described in this revision of R.I. 2819. These changes were found to give more accurate checks on duplicate distillations. The major part of the credit for the laboratory work which developed the changes in the apparatus and method revised herein is due to Boyd Guthrie, assistant petroleum chemist, and R. V. Higgins, junior chemist, o the San Francisco laboratory, United States Bureau of Mines. DESCRIPTION OF APPARATUS The distilling flask employed is essentially the Hempel flask as used by the United States Bureau of Mines for the analytical distillation of petroleum.5 he complete apparatus is shown in Figure 1. The fractionating column and exposed portion of the flask is wrapped with 4 inch asbestos rope and then surrounded by a cylindrical hood of 1/8 inch pliable asbestos sheet with a narrow air space between the wrapping and the cylindrical hood. This was found necessary to prevent any radiation or convection heat losses from the column, and resulted in obtaining a more even and constant fractionation by eliminating any dephlegmating action caused by temperature changes around the column.

Jan 1, 1930

By Alexandre da Silva Rocha, Luiz Maurício Barreto de Azevedo, Leonardo Sales Araújo, Rafael Menezes Nunes, Matheus Campolina Mendes, Thiago Marque Ivaniski, Luiz Henrique de Almeida

Superliga 718 é uma liga de níquel endurecida majoritariamente por precipitação controlada. As suas principais aplicações são nas indústrias aeroespacial, óleo e gás e nuclear devido a capacidade da manutenção das suas propriedades desde a temperaturas criogênicas até aproximadamente 650°C. Para atenuar fenômenos deletérios de natureza intergranular, neste material são feitos tratamentos termomecânicos específicos para se se aumentar a fração dos contornos do tipo Σ3n.Portanto, o objetivo deste trabalho é analisar duas rotas termomecânicas capazes de aumentar a fração destes contornos por ciclos iterativos de deformação por trefilação, seguido de solubilização em temperaturas sub-solvus  e super-solvus  e envelhecimento além de avaliar a influência da trefilação na precipitação de  mesotextura e tamanho de grão  Para a análise microestrutural, foram feitas imagens de microscopia eletrônica de varredura(MEV) e difração de elétrons retroespalhados (EBSD). Foi feita simulação computacional por elementos finitos do processamento termomecânico para avaliar a distribuição e o grau da deformação no processo. Os resultados mostram que é possível atingir uma elevada fração de contornos do tipo Σ3n pelo processo de trefilação, contudo, a heterogeneidade da deformação ao longo da seção radial influencia em parâmetros microestuturais .

Oct 10, 2019

By Sutherland R. A, Rawling K. R

The Nanisivik Mine is located 750 km north of the Arctic Circle at the north end of Baffin Island in the Canadian High Arctic, and has been in production since 1976. The paper describes the regional and local geology and the current mining and mineral processing operations, including recent innovations in each area. The Nanisivik zinc-lead deposits comprise Mississippi Valley type sulphides in a block-faulted sediment sequence of Proterozoic age. The deposits formed in two mineralizing stages by replacement of the carbonate host rock. Exploration techniques adapted to the permafrost environment include high frequency EM and ground probing radar. Core drilling is done with calcium chloride brine but trials with heated flushing water indicate potential for cost reduction. The predominant mining method at Nanisivik is room and pillar. Cut and fill is used in some satellites to the main zone. Due to the permafrost, dry drilling is employed in the underground mining. The permafrost enhances ground stability, permitting large underground openings and, as a result, the use of relatively large scale mining equipment. For power conservation, a remote control system for the ventilation fans has reduced mine power costs. The milling of the simple coarse-grained ore in an arctic environment requires special techniques in the design and operation of the plant for materials handling, utilisation of waste heat, reagent selection and tailings disposal. Regulated heavy metal contents in effluents discharged to the sensitive environment are achieved by natural processes. A recent change from sub-aqueous disposal of tailings to beach type deposition within a cell in the tailings area is reviewed. Planning closure of the property presents special problems and an opportunity for innovative techniques. Approximately 25 per cent of the employees at Nanisivik are drawn from the Inuit population of the Canadian Arctic. As the first permanent industrial activity in the High Arctic some innovative approaches to employee relations were required which have resulted in a very stable, culturally mixed community in a remote location.

Jan 1, 1993

The Australian coal industry has undergone sevenfold growth over the last 30 years and since 1985 has been the world's largest coal exporter. Three quarters of Australia's coal production is exported so its future is dependent on it remaining internationally competitive with other energy sources and other coal exporting countries. Coal is likely to increase its share of the energy market during the nine- ties as oil prices increase, new coal-fired capacity is commissioned and some form of nuclear energy is developed which is of acceptable safety standards to the community for use in the 21st century. Gas may take a part of coal's anticipated market share by the Year 2000. While coal exports will increase from China, Colombia, Indonesia and Venezuela and satisfy some of this additional coal demand Australia will also expand its export production, due to its existing advantages. The United States, Canada, South Africa, Poland and USSR seem unlikely to enjoy the same degrees of expansion and some, particularly Poland and USSR, will decline. Australia will always find it difficult to compete in the more distant markets due to levels of ocean freight, although its high quality coals will tend to partly offset such disadvantage.

Jan 1, 1988

By R. M. Daelen

Mechanical science is severely tested by the demands of the iron manufacture for the varied apparatus needed to transport and to treat raw materials and products. Water has long been a favorite means of transmitting pressure for such purposes, because of its own incompressibility. Further advances in its use are the more to be expected, since mechanical improvements have steadily tended to overcome the difficulties formerly encountered in the employment of great hydraulic pressures. So long as the pressure is not higher than that which requires for plungers, etc., only ordinary stuffing-boxes, with hemp or other similar packing, the necessary arrangements for the production and transmission of the water-pressure without leakage are very simple. But when this limit (which is, for most purposes, 50 kilos to the square centimeter) is exceeded, new conditions of construction arise, which are met in various ways, and which justify a primary division of hydraulic presses into low-pressure and high-pressure respectively. The former are used in lifting and moving weights, and employ pressures as high (in extreme cases) as 100 kilos per square centimeter; but at this point the friction between piston and hemp-packing is so great that the use of cup-leathers is already preferable. Beyond 100 kilos it becomes a necessity. The range of practicable tight packing which follows is considerable, extending to about 1000 kilos; but "high pressure" in practice is from 100 to 600 kilos, and it is to this that the present paper applies. General Classes and Types. Hydraulic transmission at high pressure usually claims consideration in case the solid mechanism, such as levers, cams, screws, and gear-wheels, would have to be too large, would involve too much friction, or could not be suitably adapted to the speed-requirements of the working-tools. Since steam is mostly the primary carrier of

Jan 1, 1893

PRESIDENT E DEGOLYER, District 0 NEW YORK, N Y PAST PRESIDENTS J V. W. REYNDERS, District 0 NEW YORK, N Y SAMUEL A TAYLOR, District 3 PITTSBURGH, PA FIRST VICE-PRESIDENT GEORGE OTIS SMITH, District 4 WASHINGTON, D C TREASURER CHARLES F. RAND NEW YORK, N Y SECRETARY H. FOSTER BAIN NEW YORK, N Y

Jan 1, 1923

For the year ending February, 1919 PRESIDENT SIDNEY J. JENNINGS NEW YORK, N. Y. PAST PRESIDENTS L. D. RICKETTS, NEW YORK, N. Y. PHILIP N. MOORE ST -Louis, Mo FIRST VICE-PRESIDENT C. W. GOODALE, BUTTE, MONT.. TREASURER GEORGE C. STONE, NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND, NEW YORK, N. Y.

Jan 6, 1918

By Verônica Scarpini Candido

A utilização de fibras de naturais como agente de reforço tem sido amplamente estudada, pois é uma alternativa para o desenvolvimento de materiais sustentáveis. Assim esse trabalho tem por objetivo estudar o comportamento em flexão de compósitos de matriz poliéster reforçados com fibras de bagaço de cana de açúcar. Foram produzidos compósitos com adição de 0, 10, 20 e 30% em volume de fibra e, depois, testados em flexão em 3 pontos. Os resultados mostraram que adição das fibras reduziu a resistência à flexão, porém, mesmo com uma queda dessa propriedade, os resultados são similares aos encontrados na literatura.

Oct 30, 2017

By Marc. A. Meyers

The analysis of the phenomena involved in the determination of the compressive strength of iron-ore agglomerates leads to the identification of the important parameters. It is shown mathematically that the pellet rupture strength is proportional to the cross-sectional area. Fracture is initiated at the center of the pellets by the tensile stresses developed by the compressive loads normally to the compression axis. The variation in strength between individual pellets of identical composition and subjected to identical treatments is due to internal voids of varying sizes, that act as stress-concentration sites. Two novel testing procedures are proposed. The first consists of testing the pellets between two plates having three steel spheres each. This configuration simulates much better the environment actually encountered by the pellets. The second procedure consists of a thick-walled cylinder in which a piston penetrates; a large group of pellets is tested simultaneously, as the stress versus strain plot is being recorded. This latter test presents significant advantages over the conventional testing procedure; the main one is that one single test is sufficient to characterize the mechanical response of the pellets.

Jan 1, 1981

By B. J. Dalton

The Helium Research Center, Helium Activity, Bureau of Mines, is presently engaged in a critical examination of all of the PVT data on helium that appear in the literature. The long-range objective is the development of a single equation of state for helium that will allow all of the thermodynamic properties to be calculated and will reproduce all of the data within the accuracy with which the data are known. A preliminary objective is to obtain the best values of the second virial coefficients and to develop an equation that will reproduce the best values as a function of temperature. The method of treatment consists in expressing the PV product of a gas, for a given isotherm, in terms of a power series in either the pressure or the density and evaluating the constants by least squares solution. Associated with these functions whose coefficients have been evaluated by least squares, the following errors, or deviations, are of interest; the standard error of a single measurement; the standard error in each coefficient; and the standard error of the resulting function.

Jan 1, 1964

By B. J. Dalton

The Helium Research Center, Helium Activity, Bureau of Mines, is presently engaged in a critical examination of all of the PVT data on helium that appear in the literature. The long-range objective is the development of a single equation of state for helium that will allow all of the thermodynamic properties to be calculated and will reproduce all of the data within the accuracy with which the data arc known. A preliminary objective is to obtain the best val¬ues of the second virial coefficients and to develop an equation that will reproduce the best values as a function of temperature. The method of treatment consists in expressing the PV product of a gas, for a given isotherm, in terms of a power series in either the pressure or the density and evaluating the constants by least squares solution. Associated with these functions whose coefficients have been evaluated by least squares, the following errors, or deviations, are of interest; the standard error of a single measurement; the standard error in each coefficient; and the standard error of the resulting function.

Jan 1, 1964

By Arden D. Fugate

This work was conducted to determine a feasible process for converting siliceous fluoride offgases to a commercially usable product. The offgases were generated by pyrohydrolytic defluorination of low-grade fluorspar in a gas-fired rotary kiln, and fluorine was collected as a hydrofluoric-fluosilicic acid. A silicon-free fluoride solution for further processing was then produced by neutralizing the acidic scrubber solution with anhydrous ammonia, silicon being separated as orthosilicic acid. Ninety to ninety-nine percent of the fluorine originally present remained in solution as ammonium fluoride. Silicon was also separated from synthetic fluosilicic acids, having F-to-Si weight ratios ranging from 3.50 to 14.3. The solutions below a ratio of 4.06, the F-to-Si ratio of H2SiF6, containing dissolved silicon were desiliconized as completely as those containing less than the stoichiometric quantity of silicon. An electrolytic-grade cryolite was recovered from the ammonium fluoride solution by reacting with either sodium aluminate or alumina trihydrate and sodium hydroxide. A product containing 97 to 100 percent of the fluorine, represented by Na3A1F6, was recovered, and 94 to 99 percent of the theoretical yield was realized.

Jan 1, 1963

Jan 1, 1882

By Timo Heikkinen

We have read, with great interest, Mr. Crocker's article on "Recent Trends in Autogenous Grinding," published in the October issue of The Canadian Mining and Metallurgical Bulletin. Referring to our paper, "Two-Stage Autogenous Grinding Investigations at Outokumpu," we can now report that last August we changed to this method at the Keretti concentrator. Prior to the conversion, the Keretti plant (see flow-sheet, Figure 1) had two primary rod mills, 6 ft. in diameter and 12ft. in length, in open circuit, followed by four secondary 9-by 12-ft. pebble grate mills in closed circuit with rake classifiers. Last summer, wl1en the Since August, grinding has been successfully carried out autogenously in two stages, with two mills being employed in the primary stage and four in the secondary. The size of the pebbles in the secondary mills is about the same as earlier -l V: i to 3 inches (Figures 4 and 5). Also, we generally prefer two-stage grinding to single-stage grinding because, in the former,

Jan 1, 1964

By H. S. Castro

The by-product molybdenite technology in Chile is reviewed. Flowsheets, reagents and some operation features for the actual six Chilean moly plants(Chuquicamata, El Teniente, El Salvador, Andina, Las Tortolas and Pelambres), are presented. The chemical and physicochemical factors involved in the depression of copper and iron sulfides during the selective flotation of molybdenite, with sodium sulfide, sodium sulfhydrate, anamol-D and LR-744, are discussed. Advances in technology to solve problems of excess of lime (precipitation with sulfuric acid); excess of residual flotation reagents (activated carbon and kerosene); and optimization of depressant consumption (Eh control, nitrogen and low-oxygen air), are discussed.

Jan 1, 1998