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By Douglas B. Silver

"Editor’s note: Douglas B. Silver, Portfolio Manager, Orion Resource Partners, was the keynote speaker at the 2017 SME Annual Conference & Expo in Denver, CO on Feb. 19, 2017. He also gave the keynote address to the SME Annual Conference in 2008. The following is his 2017 keynote address with a few of the slides that were presented. The full speech is available on YouTube https://www.youtube. com/watch?v=uF0qwGJIX3UIn 2008, I had the privilege of giving SME’s keynote address. At that time the financial markets were on the verge of collapse and my presentation described the issues. Unfortunately I was correct, and global markets went into a steep nosedive, creating the largest economic downturn since the Great Depression.In hindsight, there were plenty of signs that this was coming. The Supercycle had created massive new wealth. This wealth was largely invested in the United States due to the country’s political stability and credit worthiness. In 2004, the large investment banks convinced the U.S. Securities Exchange Commission (SEC) to allow them to triple their borrowing leverage ratios. This made the banks more vulnerable to market volatility. The banks then lent money to NINJAS - people with no income, no job and no assets. Even worse was the fact that these unqualified home owners used adjusted-rate mortgages (ARMs) which they, of course, intended to refinance prior to interest rates rising. These mortgages were then bundled up by the banks and sold to investors as “safe” investment products. The money flowed into these products because the rating agencies gave these instruments high marks. These same agencies earned their fees from the very same banks seeking high ratings. (No conflict there). Private debt exploded and peaked out in 2008.These mortgage products were sold in an unregulated shadow banking system and the ARMs came due. Toxic mortgage default rates skyrocketed and the mortgage-backed securities collapsed in value. This house of cards had a negative feedback loop that accelerated the market crash and resulted in more than $1.5 trillion being lost in the securitization sector, a 47 percent decline in the Dow Jones Industrial Average, foreclosure rates skyrocketing and housing prices collapsing. The financial markets were in a nosedive."

Jan 8, 2017

By R. E. Morgan

Two sizes of Pennsylvania anthracite were gasified in the new-type Lurgi pressure generator at the Dorsten, Germany, works of the Steinkohlengas, A. G. These tests demonstrated that Chestnut-size anthracite and a Rice-Buckwheat mixture containing 27 and 19 percent ash, respectively, could be gasified satisfactorily at an elevated pressure in a fixed bed with oxygen and steam. These coals were especially prepared to approximate a rough-cleaned coal and a washed and screened product. The operating data obtained from the two tests and materials requirements are summarized. A wide range of reactant ratios could not be tested, nor could optimum operating conditions be determined, as the generator was being used throughout the testing program, employing normal operating practices, to produce gas for the gas grid; and the most economical coal, steam, and oxygen ratios may not have been used. Comparative costs are presented of the raw materials required for producing a high-B.t.u. gas, based on the operational data obtained from these tests and, to some extent, on data extrapolated from laboratory experimentation. A flowsheet of a proposed process for producing a high-B.t.u. gas by Lurgi gasification, followed by methanation, is also included.

Jan 1, 1958

The experiments described in this paper were carried out as a preliminary to a comprehensive study of the factors which affect the behaviour of lead during and subsequent to deformation by rolling and pressing. These observations are therefore to be considered as introductory to a further paper dealing more specifically with the above-mentioned variables.EXPERIMENTALThe rolling was carried out in a small mill with six-inch diameter surface ground rolls, both of which were electrically driven at 15 r.p.m. The average draft per pass approximated 0·03 in. The pressing was performed between platens in the compression unit of a 30-ton Amsler machine. The flat faces used had a ground finish comparable with the surface of the rolls. All hardness measurements were made with a Herbert "dead load" Brinell machine. The following te'sting conditions were maintained: ball diameter-5 mm.; load-10 kgms.; duration of loading-30 seconds; temperature of testing-16 to 18°C. The hardness values which are given are the mean of two or more impressions made at corresponding positions on the test specimens.PREVIOUS WORKSince the researches of Tresca (1):j: into the nature of the plastic flow of metals during various forging and extrusion...

Jan 1, 1939

By Daniel C. Boteler

Five lignites from the northern Great Plains province were carbonized at temperatures from 500° to 1,000° C in a bench-scale unit. A replicated Greco-Latin square experimental design was employed to allow testing of four independent variables at five levels. Independent variables investigated were temperature, source of lignite (mine), weight of charge, and moisture content of charge. Dependent variables were char yield, tar yield, light-oil yield, tar plus light-oil yield, carbonization gas yield, and carbonization gas heat yield. An analysis of variance indicated that, at the 99-percent confidence level, the independent variables of carbonization temperature, source of lignite, and weight of charge were significant for yields of char, tar plus light oil, and carbonization gas, whereas moisture content was only significant for carbonization gas yields. At the 95-percent confidence level, moisture content significantly influenced the carbonization gas heat yield per pound of lignite charge and the yields of dry tar plus light oil. All dependent variables were determined on a moisture- and ash-free basis. Multiple regression equations for predicting seven different factors of carbonization yields as functions of carbonization temperature and initial composition were developed using computer techniques. Equations for yields of char, tar plus light oil, and carbonization gas were compared with equations previously developed by others at the 500° C level.

Jan 1, 1970

By Walter W. Kaufman

This Bureau of Mines manual for design of surface mine haulage roads covers such aspects of haulage road design as road alinement (both vertical and horizontal), construction materials, cross slope, and drainage provisions. Traffic control and design of proper lane widths to promote safe vehicle movement are included, as are suggested criteria for road and vehicle maintenance and for runaway-vehicle safety provisions. The aim of this publication is to provide those involved with surface mine haulage road design with a complete manual of recommended practices that, if implemented, will promote safer, more efficient haulage routes.

Jan 1, 1977

By K. E. Stanfield

This report presents the results of analytical studies made on two series of oil-shale samples from the Mahogany ledge of the Green River mine the character of the various grades of oil shale that are being mined and processed into shale oil and refined products at the Bureau of Mines Oil-Shale Demonstration Plant at Rifle, Colo. The analytical work was part of a synthetic liquid fuels program being conducted at the Petroleum and Oil-Shale Experiment Station, Laramie, Wyo. The 16 oil shales ranG6d in color from a gray brown ( or a sample that assayed 10.5 gallons of oil per ton to a very dark brown for a sample that assayed 75.0 gallons of oil per ton. In general, the samples were similar as to the types of organic and inorganic matter that they contained but varied widely in the amounts or these constituents. The principal constituents were calcite, dolomite, illite, and yellow organic material, while the minor constituents were quartz, feldspar and plagioclase feldspar, pyrite, marcasite, analcite, opal, black organic material, and small woody fragments. Some micro-fossils, spores and pollen grains were found also.

Jan 1, 1951

By Michael S. Miller

In 1984, at the request of the Bureau of Land Management, the U.S. Bureau of Mines studied the 34,050-acre Cow Creek Wilderness Study Area (WSA) in order to evaluate its mineral resources. The WSA, located about 60 miles southeast of Havre, MT, contains sandstones, shales, clays, and coal of Cretaceous age. The Cretaceous rocks have been intruded by ultramafic diatremes. Quaternary glacial, stream, and landslide deposits overlie the older rocks. Claims are staked at five of seven sites favorable for diamonds within the WSA and at additional sites nearby. Although the ultramafic diatremes within and near the WSA contain minerals that are indicators for diamonds, no positive evidence of diamonds was found during this study. An abandoned coal mine, the Shellenberger, is inside the southwest boundary of the WSA. Possible petroleum and natural gas at depth are currently of interest; land within the WSA is leased or under lease application for oil and gas. The WSA contains subeconomic clays, zeolites, gold, silver, platinum group metals, and coal.

Jan 1, 1986

By J. Brian Eby

The Gulf Coast area of Louisiana enjoyed a particularly active and profitable year in 1939. Fifteen new producing structures were located and approximately sixty new producing sand horizons in old fields were opened in that period of time. The most important new discoveries are the Eola field, Avoyelles Parish, and the Paradis, St. Charles Parish. The Eola strike was indicated during December 1938, but the well was not placed on production until January 1939. Eola is particularly important because it was the first discovery of oil in a commercial quantity in the Wilcox formation in that area. Sid Richardson, of Ft. Worth, Texas, drilled the first well on the Haas Investment Company's property, which encountered the producing sand at a little below 8500 ft. Within the year 48 wells were drilled, 42 being commercial producers and 6 dry holes. The second most favorable discovery was the Paradis field, which was discovered by The Texas Company's Louisiana Land and Exploration Company's Paradis No. 1 well, in St. Charles Parish, just west of New Orleans. Detailed information concerning this field has not yet been made available but it is reported that the oil sand is as much as 175 ft. thick. The initial production indicated was 1750 bbl. daily and reports suggest a very large structure. In Calcasieu Parish the Humble Oil and Refining Company's Edge-wood Land No. 1 discovered gas in the Oligocene at a total depth of 7042 ft., in the Perkins area. Although two additional dry holes have been drilled in this prospect, it is still believed to have some merit. A new discovery is credited to Cameron Parish with the finding of Miocene oil in the Superior Oil Company's State No. 1 well in Grand Lake. The Chalkley field, Cameron Parish, is credited as a 1938 discovery but was largely developed in 1939 into one of the more important new fields. During the year 13 wells were drilled, 8 being oil wells and 5 dry holes. The oil is found in the Oligocene at depths of approximately 9000 feet.

Jan 1, 1940

By J. Brian Eby

The Gulf Coast area of Louisiana enjoyed a particularly active and profitable year in 1939. Fifteen new producing structures were located and approximately sixty new producing sand horizons in old fields were opened in that period of time. The most important new discoveries are the Eola field, Avoyelles Parish, and the Paradis, St. Charles Parish. The Eola strike was indicated during December 1938, but the well was not placed on production until January 1939. Eola is particularly important because it was the first discovery of oil in a commercial quantity in the Wilcox formation in that area. Sid Richardson, of Ft. Worth, Texas, drilled the first well on the Haas Investment Company's property, which encountered the producing sand at a little below 8500 ft. Within the year 48 wells were drilled, 42 being commercial producers and 6 dry holes. The second most favorable discovery was the Paradis field, which was discovered by The Texas Company's Louisiana Land and Exploration Company's Paradis No. 1 well, in St. Charles Parish, just west of New Orleans. Detailed information concerning this field has not yet been made available but it is reported that the oil sand is as much as 175 ft. thick. The initial production indicated was 1750 bbl. daily and reports suggest a very large structure. In Calcasieu Parish the Humble Oil and Refining Company's Edge-wood Land No. 1 discovered gas in the Oligocene at a total depth of 7042 ft., in the Perkins area. Although two additional dry holes have been drilled in this prospect, it is still believed to have some merit. A new discovery is credited to Cameron Parish with the finding of Miocene oil in the Superior Oil Company's State No. 1 well in Grand Lake. The Chalkley field, Cameron Parish, is credited as a 1938 discovery but was largely developed in 1939 into one of the more important new fields. During the year 13 wells were drilled, 8 being oil wells and 5 dry holes. The oil is found in the Oligocene at depths of approximately 9000 feet.

Jan 1, 1940

By Michael L. Clar

This volume is an annotated bibliography of published literature pertaining to the occurrence and control of surface and groundwater in underground coal mines. This literature was used to develop Volume 1 of this report, which assesses the feasibility of water diversion and overburden dewatering for underground coal mines in the Appalachian Region. Each abstract is followed by subject descriptors. the abstracts are listed alphabetically by title and are numbered consecutively. These numbers are used in the subject index to help the reader locate the appropriate articles.

Jan 1, 1981

By Bernard Lewis

This report summarizes fundamental research end technical studies conducted in the Explosives and Physical Sciences Division, Region VIII, of the Bureau of Mines in the 2 years July l, 1950, to June 30, 1952. It is the fifteenth of a series of, ordinarily, annual reports whose aim has been to provide the reader with a resume of the research results that have appeared in published form during each fiscal year under the authorship of members of the staff. These are referred to throughout the report. ACKNOWLEDGMENTS Acknowledgments art, made to the following members of the Division wider whose mediate supervision the described studies were carried out. Stuart R. Brinkley, Jr., chief, Mathematical and Theoretical Physics Section, and special assistant to the chief of the division.

Jan 1, 1953

By J. H. Zietsman, M. W. Erwee, Q. G. Reynolds

Pyrometallurgical furnaces, essential for metal extraction, operate at temperatures exceeding 1600°C and represent complex multiphase systems that challenge direct industrial research. Multiphysics models play a key role in shedding light on their intricate behaviours, supporting the refinement of design and operational strategies. Integral to the operation are the tap-holes, which facilitate the removal of molten products and are routinely opened by lancing, a process comparable to the use of a cutting torch, where high temperatures result from oxygen reacting with an iron lance. When the lance pierces the clay, oxygen gas enters the furnace, which could influence the behaviour of the molten material inside. In this work, a multiphase fluid flow model was used to investigate bulk flow dynamics, with a focus on the effects of the lancing process on the inside of the furnace, immediately behind the tap-hole. Incompressible and compressible multiphase fluid solvers were used and compared with respect their performance – the intention was to assess whether using a compressible solver would yield a different solution to the incompressible one. It was concluded that there are negligible disparities in bulk fluid flow behaviour between the solvers for the case studies examined, indicating that solver selection might be less consequential for certain aspects of oxygen lancing.

Apr 16, 2024

By B. J. Moore

This publication contains routine analyses and related source data for 547 natural gas samples from 22 States and three foreign countries. Of this total, 340 samples were collected during calendar year 1967. The remaining 207 analyses are of samples collected during previous years, but releases granting, permission to publish the results were not received until 1967. All samples were collected as a part of a continuous survey of the free world for occurrences of helium in natural gas. The Bureau of Mines has conducted this survey in the United States since 1917, and in 1965 it was expanded to include foreign gasfields. The analyses published herein were made by mass spectrometer and a special helium analysis apparatus which are described in Bureau of Mines Bulletins 4863 and 516.4 Nine previous publications have been made to present results of 7,618 gas analyses made by the Bureau of Mines Helium Activity prior to 1967. The first three, Bulletins 486,5 576,6 and 6177 contain analyses and related source data on 5,218 gas samples collected from 1917 through 1960. The other six

Jan 1, 1968

By Gregory M. Rumbaugh, Todd Kostecki, Christopher Mark

From 2015 to 2021, five massive pillar collapses occurred at four underground stone mines in the eastern United States. These events resulted in powerful airblasts that damaged mine infrastructure and mobile equipment, seriously injured miners, and disrupted underground travelways. Each of these pillar collapses propagated through the overlying strata, causing a subsidence basin on the surface. Pillar collapses are particularly hazardous for miners because they can occur with little warning and can affect miners that are far from the pillar collapse area. The following case studies show that certain factors may increase the likelihood of a pillar collapse. For instance, each of the five events involved the collapse of at least twelve benched pillars with width-to-height ratios (w/h) of 0.8 or less. This study elaborates on

By B. J. Moore

This publication contains analyses and related source data for 234 natural gas samples from wells and pipelines in 21 States and 1 foreign country. All of the samples were obtained and analyzed during calendar year 1975 as a part of Bureau of Mines investigations of the occurrences of helium in natural gases of countries with free market economies. This survey has been conducted in the United States by the Bureau of Mines since 1917. In late 1965, the survey was expanded to include foreign gasfields. The analyses published herein were made by mass spectrometer and n special helium analysis apparatus, which are described in Bureau of Mines Bulletins 4862 and 576.3 The results of the investigation of the occurrences of helium are published annually to make the information available as soon as possible to the gas industry and the public in general. Seventeen previous publications have presented the results of 10,831 gas analyses prior to 1975. The first 3, Bulletins 486,4 576,5 and 617,6 contain analyses and related source data on 5,218 gas samples collected from 1917 through 1960. The other 14

Jan 1, 1976

By Oliver Bowles

In 1943 the Bureau of Mines began a review of trends in consumption and prices of the more important nonmetallic minerals. The first report covering building materials4/ appeared in December of that year. The present paper, which deals with chemical raw materials and fertilizers, is the second of the series. The 34 years from 1910 to 1943, for which statistics are presented herein, comprise periods of uneventful peace, unparalleled prosperity, industrial depression almost to the point of stagnation, and two wars of world proportions.

Jan 1, 1945

By William C. Cooley

Data on equipment and components which have been used in hydraulic mining experiments, tests, and operations were collected from the literature. Also data were obtained from U.S. manufacturers and suppliers of equipment which is potentially applicable and available in the U.S. for hydraulic mining. The data have been divided into 24 main categories (see the following page) and have been assembled on two-page data sheets which follow. Wherever possible, drawings or photographs are included immediately after each data sheet.

Jan 1, 1975

By R. S. Rosso

A program to investigate the effects of hardened washers on the uniformity of roof bolt tension and the resulting ground control in an underground mine was carried out. The complete roof bolt installation and roof bolt loads, mine convergence, and bed separation were monitored for a period of five months. The results show no evidence to support or refute the theory that mechanical roof bolts offer better support when they are installed with a high uniformity of tension. Also shown is the fact that if the bolts are installed with a maximum deviation from the mean torque of ±15% the addition of hardened washers significantly improved the uniformity of the installed tensions in the roof bolts.

Jan 1, 1977

By F. D. DeVaney

In the course of the investigation by the U. S. Bureau of Mines and the Missouri School of Mines and Metallurgy at the Mississippi Valley Experiment Station at Rolla, Mo., on the beneficiation of the low-grade manganese ores of the country, some samples from the Cuyuna District, Linn., have been examined. The work was done under the direction of W. H. Coghill, supervising engineer of the Mississippi Valley Experiment Station. Joseph and Kinney in writing about the relative importance of Minnesota deposits of low-grade ore compared to the total reserves say: "***It has been estimated that 26 to 35 million tons of ore contain 5 to 35 per cent of manganese, and the total domestic tonnage is from 75 to 48 million tons. The mean of these values is 30.5 million and 42 million tons, so it is seen that about 75 per cent of the reserves are in Minnesota." The manganese-bearing ores of the Cuyuna district maybe roughly grouped into two classes. The most abundant ore is of the low-silica, low-manganese, and high-phosphorus type called brown are. The other type is the so-called black ore, which is characterized by a higher manganese and silica content and by a lowe phosphorus analysis than the brown ore. As a general rule the brown ore carries less than 10 per cent of manganese while the black ore contains about 15 per cent and sometimes as high as 22 per cent of manganese.

Jan 1, 1930

By Charles J. Haas

The objective of this research was to investigate the interaction phenomena of rock and types of rock bolts to develop design principals for using grouted roof bolts. The investigation was to determine the effectiveness of grouted bolts in resisting lateral displacement and axial separation along fracture planes, and also to determine if grouted bolts eliminate the axial tensile stress near the anchor and the resulting rock fracture. The first year's effort involved defining the post-tensioning response of grouted bars and determining the amount of shear resistance generated by conventional and resin-grouted bolts. A finite-element analysis showed that if the rock and resin grout behave in an elastic manner, the post tensioning of a grouted bar will affect mine roof stability only if movement occurs near the collar. An experimental shear test program revealed that both conventional bolts and resin-grouted reinforcing bars significantly increase shear resistance along fracture or bedding plane when the average normal compressive stress on that plane is low (in the order of 25 psi) and when the bolt is oriented so that the shear displacement tends to lengthen the bolt. An increase in shear resistance is also noted at the higher normal pressure of 250 psi; however, the increase is small compared to the corresponding shear resistance without a bolt. Conventional bolts oriented so that they tended to loosen with shear displacement added no significant shear resistance.

Jan 1, 1974