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By Thomas P. Bispham

INTRODUCTION From the lender's point of view, the greatest period of risk in a project financing occurs during the construction phase. Therefore, most projects are supported during this phase by completion guarantees supplied by some credit-worthy entity; for example, the project sponsors in the case of a joint venture, such as that of W.R. Grace, Hanna Mining, and Liberty Capital; or by a strong contract with a utility or foreign importer/investor, such as the way North American Coal Corporation has structured many of its transactions. THE PROJECT LOAN REQUEST A project financing is a more complex form of term loan than one using an ongoing corporation's balance sheet as a credit base and, therefore, a potential lender will subject the loan request to a more rigorous analysis. To support this effort, the financial institution will require a more detailed information memorandum to evaluate the credit and technical risks of a project - especially since much of the necessary information is not otherwise available. (See also Gibbs and Sroka paper above in this Chapter) A well-prepared information memorandum will impress prospective lenders with the planning ability and general competence of management. Also, the process of preparing the memorandum will help management understand the true extent of the opportunities and limitations of its venture. Appendix A outlines the topics which comprise a complete information memorandum for a loan request. Of some interest to those seeking to sell a currently-operating mining venture, a similar information memorandum should be prepared i.e., covering the same topics discussed here, for the investment banker to use with potential purchasers. For that purpose, though, one might not want to prepare quite as much detail as for a lender. Appendix B outlines the elements of a reserve evaluation and feasibility study, often called the "Bankable Document." Usually, these studies are prepared by independent engineering consultants for use by potential borrowers and sellers. (Potential purchasers will often contract for a similar study for their use in evaluating an acquisition.) ELEMENTS OF A LOAN INFORMATION MEMORANDUM 1. Outline: The information memorandum should begin with a one-page outline covering such topics as: a. The borrower's name, address, and phone number. b. Principal contact at the borrower. c. Amount of the proposed financing. d. Desired pricing and structure of the proposed financing. This should include a description of the amount and source of equity in the proposed financing. e. Use of the proceeds and timing. 2. Summary: The most important information contained in the memorandum should be summarized in two pages. Note - If the borrower is a recently-formed single-purpose company, then elements 3, 4, and 5 will apply to the guarantors of completion and to the project sponsors. 3. The Borrower: This section is a brief biography of the borrower including such topics as date and state of incorporation, founder(s), lines of business, etc. 4. Capitalization: The borrower's current debt and equity position, including leases and trade debt, with amounts, terms, names, and addresses enumerated. Equity owners, and percentage ownership, should be identified. 5. Historical Financial Statements: If available, a minimum of five year's worth of complete historical financial statements

Jan 1, 1985

By Santo Ranieri

We will briefly review the nickel market in 2003 and look forward to the supply demand balance for the next few years focusing in on the key factors influencing future price dynamics. On the supply side we will examine slated brownfield and greenfield expansions including the Norilsk factor and the small to mid-range 'supply creep'. We will also review the cost side of the industry and what to expect going forward. On the demand side, we will discuss the stainless steel and non-stainless demand, the China factor and the stainless steel scrap supply cycle. We will conclude by pinpinting where the market is on the current price cycle, and where we believe the mid-term direction is headed.

Jan 1, 2004

By Tom Cooney

A small number of mining contractors worldwide have evolved their businesses to be able to provide a ?total service solution? to their clients. Thiess, an Australian-based international mining service provider, works with numerous clients to tailor delivery methods and commercial arrangements to suit individual projects. The benefits of Thiess? extensive experience is brought to each client and project, whilst business improvement within projects, to the mutual benefit of both the client and Thiess, is a key part of all long term contract relationships. Historically, optimal business outcomes were closely related to the achievement of production and cost performance measures. Whilst these remain fundamental to successful mining businesses, other elements of sustainability are assuming increasing importance. As a large energy user, greenhouse and energy management is becoming an important part of Thiess? business. Thiess is a signatory to Australian government initiatives such as Greenhouse Challenge Plus, and is integrating energy management into its operations and business improvement programs, in many cases to the benefit also of the client. This paper will highlight the benefits that an organisation such as Thiess can bring to a mine owner. Thiess? approach to business improvement and cost reduction, sustainability and energy management, as well as the relationship between these will also be considered. Increasingly, overall mining performance is dependent on the alignment of formally disparate elements.

May 1, 2007

By John Nagy

Dust explosion data obtained in laboratory studies by the Bureau of Mines are presented for activated carbon, asphalt, charcoal, carbon black, coal, coke, gilsonite, graphite, lignite, miscellaneous carbons, pitch, tunnel dust, and mixtures of these materials with other ingredients. The explosion hazard is shown to increase as the volatile content of the dusts increases.

Jan 1, 1965

By C. V. Corless

1. Introductory Some members may recall that at the Annual Meeting two years ago I read a paper, 'The Future of the Mining Industry in Canada." Discussing this large subject it was possible only to outline the facts and inferences leading to ?the conclusion that Canada is a country endowed with enormous mineral wealth, of which the fringes are yet scarcely touched. In the present paper, I wish to examine in somewhat fuller detail the evidence, both direct and inferential, concerning the mineral wealth of the greatest physical and geological feature of Canada-the Precambrian Shield. Many, if not most, of these facts are already familiar to you. But, since they will form the basis of the reasoning employed, they will be recalled for explicit reference. First, let us review very briefly the position and extent of the Shield. The area of the entire Shield is given in textbooks as 2,000,000 square miles, of which perhaps 10 or 12 per cent. is exposed in the south-easterly part of Canada's Arctic islands. The remainder occupies roughly two-thirds of the North-west Territory; the north-east corner of Alberta; one-third of Saskatchewan ;two-thirds of Manitoba; three-fourths of Ontario; and nearly ninety-five per cent. of Quebec.

Jan 1, 1924

By Brenda M. Dixon

A matrix analysis of the differences between the camps and communities associated with the Britannia Mine is used to develop an analytical tool. The tool is intended to assist the mining industry as it embraces the many facets of sustainable development. A case study is used to support the identification of key factors that may predict the sustainability of a new mine town. Sustainable communities, like Britannia Beach, are discussed in the context of three pillars of sustainability: value of mining products to society; creating wealth; and, environmental integrity. A sustainable mine town may be viewed as a socio-economic asset as well as an asset to the mining industry.

May 1, 2006

By J. M. Boutwell

I. Introduction. THE object of this paper is to present a concise statement on the genesis of the copper- and lead-deposits of the Bingham Mining District, Utah. It is essentially a condensation of a chapter in a detailed report on this district, together with so much on geologic features, and on the character and occurrence of the ores as bears on the problems of ore-deposition. The studies upon which the paper is based were undertaken in 1900 under the direction of S. F. Emmons, Geologist-in-Charge of the Section of Metalliferous Deposits, U. S. Geological Survey; and a little additional data was secured in subsequent years. The evidence then obtained as to the genesis of the replacement copper-ores has led, to conclusions which differ somewhat from explanations hitherto current. Accordingly, it seems desirable briefly to present the facts together with the resulting conclusions in a separate paper.

Nov 1, 1905

By D. Jepsen

Land access and tenure certainty for exploration and mine development is absolutely critical to the foundation of a healthy, sustainable and environmentally-sound mineral exploration and mining sector. Without certainty, mineral exploration will be severely eroded, resulting in reduced possibility of discovering and developing new mines. The development of positive relationships based on a shared commitment of understanding, mutual respect and trust by First Nations and the mineral sector can provide this increased business certainty and social and economic benefits for local First Nations. As a sector, we face many challenges in regard to building relationships with First Nations. The root solution to addressing these challenges lies in recognizing and understanding the unique cultural differences that exist between indigenous people and the business community. From the Canadian perspective, the First Nations culture differs vastly from non-Aboriginal culture. It is equally as imperative that cultural differences be acknowledged and respected at home as they are when seeking business opportunities in other countries. The traditional “business” approaches and relationships that one understands and incorporates with one’s contractors, legal counsel, investors and Board are generally not be the best approach for the introductory and subsequent meetings with indigenous peoples. This paper is written from the perspective of my experiences accumulated over the past ten years, first as Manager of Aboriginal Affairs for one of the largest forest companies in British Columbia and now, as President and CEO of the Association for Mineral Exploration BC (AME BC). My opinions are not necessarily endorsed by AME BC. Before the gritty issues of consultation and benefit sharing are dealt with, it is worthwhile to clear up the confusion surrounding terminology. “Indigenous Peoples” is used in a global context; “Aboriginal Peoples” is used in the Canadian context therefore includes Métis, Inuit and First Nations Peoples. The term “First Nations”, in the context of British Columbia, perhaps has its roots in the fact that treaties have largely not been settled. Therefore it is important to reaffirm that British Columbia was not discovered. First Nations have resided in British Columbia since time immemorial.

Jan 1, 2007

By N. L. Wimmler

"INTRODUCTION The Southern Cross district in Deer Lodge County, Mont., has been chiefly a gold producer. Most of the production has come from gold-bearing hematite-limonite ores. Some of these ores were mined and shipped to smelters for use as flux in smelting copper ores. A magnetite deposit in the Pomeroy property, containing no gold or other economic nonferrous minerals, was mined from 1921 to 1923, the ore being shipped to smelters for flux.The iron-bearing deposits in the Southern Cross area were examined by Bureau of Nines engineers/ on June 28, 1943, and October 14, 1943. As a result, a Bureau exploration project was recommended; it was conducted during 1944. A magnetometer survey was first made of the magnetite-bearing area at and in the vicinity of the Pomeroy property. Exploration by diamond core drilling was then conducted within this area, and in the Southern Cross and Hold Fast properties. The cyanide tailings dump at the Hold Fast mill was sampled by auger drilling.This report presents the data obtained by the Bureau of Mines exploration."

Dec 1, 1946

By M. P. Board

The U.S. Bureau of Mines, under a cooperative agreement with Hecla Mining Co., conducted a rock mechanics study at four widely spaced horizons in a deep mine shaft in northern Idaho. The objective of the project was to measure and analyze rock deformation and lining behavior during construction of a deep shaft in a high in situ stress field within an isotropic rock mass. Rock mass displacements were monitored with multiple-position borehole extensometers. Liner stress and strain were measured with concrete pressure cells and embedment strain gauges. This report discusses the general trends and magnitudes of data from the four test sites, and relates the data to a proposed anisotropic constitutive model for the rock mass. A design procedure is then outlined for specifications of liner thickness and support installation sequences for future shaft sinking.

Jan 1, 1989

IDS: The Company IDS Ingegneria Dei Sistemi, founded in 1980, is a world leader as a high technology solution provider in selected niche defense and civil market sectors ? Private and Independent ? IDS?s Quality System is certified ISO 9001 Ed. 2000 ? IDS has the highest Military Clearance ? Continuously measure (24x7) mine wall movements with sub-millimetric accuracy at long distance (up to 4 Km) ? Provide reliable early warning for progressive slope movements potentially leading to mining wall failures ?Map the long term evolution of slow moving slopes to get a better knowledge of the rock mass strength

Aug 1, 2013

By E. H. Boyle

The Bureau of Mines has evaluated the potential availability of silver from 436 mines and deposits in 41 market economy countries (MEC?s) comprising five major economic categories of deposits: predominantly silver deposits and predominantly zinc, lead, copper, and gold deposits. This study evaluated the long-term cost and availability of primary silver production from 53 producing and 13 nonproducing predominantly silver properties in 11 MEC's and estimated the total recoverable silver from 370 properties as a coproduct or byproduct of zinc, lead, copper, or gold production. This study resulted in estimates of a demonstrated resource of 5.99 billion tr oz of recoverable silver as of January 1984. Of this total, 23.5 pet is in the 66 mines and deposits classified as predominantly silver properties. The largest quantity of recoverable silver, 43.9 pct, lies in the 121 properties classified as predominantly zinc, with 26.5 pct in 120 properties classified as predominantly copper, 4.1 pet in 21 predominantly lead properties, and 2.0 pct in 108 predominantly gold properties. At current silver prices, the economics of silver production favor silver that is a byproduct or coproduct of zinc, lead, copper, or gold, and much of the silver production in the United States from the predominantly silver mines is at an economic disadvantage in comparison with silver production in other countries.

Jan 1, 1986

By J. W. Miller

This report deals with upgrading of the coal reserves of Raleigh County, VI. Va., to metallurgical standards. The data on samples herein correctly show the characteristics of the bed at the point where sampled and are used to indicate the general quality of the bed in the county. The principal results and conclusions are: 1. Raleigh County contains large reserves of high-quality, high-, medium-, and low-volatile coals. 2. The principal beds from which an increased amount of coal is expected to be mined in the future are: The Eagle, Powellton, No. 5 Block, Hernshaw, Fire Creek, and Pocahontas No.6.

Jan 1, 1954

By W. H. Young

In response to increasing national energy requirements. highlighted by the continuing growth in demand for coal for the generation of electric power the output of bituminous coal and lignite in 1965 passed the 500-million-ton mark for the first time since 1956, thus emphasizing the steady up-ward trend from the recent low of 403 million tons in 1961. There were corresponding upward trends in consumption, exports mechanization, and productivity. Production.-The output of bituminous coal and lignite in the United States in 1965-512 million tons-was 5 percent greater than the 487 million tons produced in 1964. The gain was attributed largely to expanded consumption by the electric utilities, greater use at coke ovens, and an increase in exports.

Jan 1, 1967

By M. C. Malamphy

A general description of the activities and results of bauxite investigation by the Bureau of Mines at its bauxite project in Saline and Pulaski Counties, Ark., has been given in Report of Investigations 4251. The factual data obtained during the project are reported in a series of Reports of Investigation beginning with No. 4251, of which this is the ninth. The data are accompanied by maps showing the location of holes drilled and the deposits developed. Each area upon which work was done is reported by half townships. Each bauxite deposit investigated was assigned a name and a number for ready reference and identification, and its location and name are shown on the appropriate half-township map. The description of each half township is followed by a description of each deposit developed in that half township map. The 14 half-township maps and 77 detail maps of the bauxite deposits in this series of reports give the locations and numbers of all the holes drilled on the project except the deep holes drilled to test the geophysical anomalies. The locations of those holes show on figure 13 in volume 1. The descriptions of the deposits developed are followed by complete detailed logs of the drill holes. Many of the widely spaced exploratory holes did not discover bauxite of minable thickness and grade. The pertinent information obtained from the widely spaced exploratory drill holes has been summarized and tabulated, and a table for each half township is given with the discussion covering that area.

Jan 1, 1948

By R. E. Collom

The commercial development of petroleum and natural gas fields has reached its present status within 60 years and is still considered by some operators to be "100 per cent wildcatting." 1 A tendency to drill for gusher production, the production that yields big returns in spite of any mechanical defects in drilling methods, has frequently caused drillers to pass by oil-bearing strata of comparatively small yield and actually to overlook rich oil zones in proved fields; in addition, whole fields have been ruined by water because development methods were never carried beyond a hole-in-the-ground stage.2 Unfortunately, the petroleum industry has no mine dumps or tail. ing piles as at metal mines to yield fortunes through later and bette!' methods of treatment. The wasted oil and gas are gone, as are the time, money, and effort wasted in ill-advised or haphazard drilling. Probably as production costs increase less oil will be wasted, but the need to develop and produce from sands of low yield will become more urgent with the increase in consumption of oil and the decrease in supply. Hundreds of wells are producing steadily as the result of months and perhaps years of careful prospecting and of tests during drilling. The Bureau of Mines has studied the testing and drilling methods used at such wells, and presents in this paper a criticism of these methods and suggestions on future work. The term pr08- pecting here means correct identification and measurement of strata as they are exposed by the drill. The term testing means the determination of the kind and amount of fluid stored within the pores or crevices of any stratum exposed in the hole.

Jan 1, 1922

By Frederick J. Murrell

No other region of the world is enjoying the tremendous growth of power use that is currently being experienced in Asia. Fortunately for the coal industry — particularly in Asia — the power plants being planned or under construction are designed to use coal as fuel. This has produced a significant increase in the demand for steam coal that, in turn, has encouraged many in the industry to develop new coal mines. Indonesia is a country that has enjoyed substantial growth in coal production. This developing country has 195 million people who live on the nearly 13,000 islands. It has quickly emerged as the third-largest exporter of steam coal, following only Australia and South Africa. Almost all coal in Indonesia is mined by surface-mining methods.

Jan 1, 1996

By Ricardo A. Valls

The Sechol Nickel-Cobalt Laterite Project is located in East-Central Guatemala, 140 km northeast from Guatemala City. In-situ resources in the immediate Sechol area, including those on other mining concessions contain 133 million tonnes of mineralization, grading 1.5 1% nickel. Considering the ever-increasing market for these metals, and the potential quick return on the initial investment, Jaguar Nickel Inc. is confident that by late 2006, it will be producing the first nickeltcobalt hydroxides from Guatemala. The path from now until the production stage passes through a pre-feasibility study, scheduled for completion by mid 2004, and bankable feasibility by mid 2005. Jaguar's objective, however, is not only to have a producing nickel-cobalt mine by late 2006, but also to continue with the exploration work in order to make Guatemala one of the world's leading nickel-cobalt producers. The Sechol group of deposits is conformed of several lateritic pockets, delimited by tectonic faults, and hosted by ultramafic rocks of the Sierra de Santa CW. ophiolitic belt that intruded the Maya Continental Block during the Early Tertiary age. The intrusive is mainly represented by a layered sequence of dunites, peridotites, and pyroxenites, usually strongly serpentinized. Existing data indicate that these rocks underwent fractional crystallization, and probably some degree of magma mixing and contamination previous to their main tectonic event. The most complete profiles are usually present over weathered dunites and serpentinites, while on top of the less altered pyroxenites, there is usually the formation of only a limonitic zone. The relative complexity of the ophiolitic belt explains the variety of mineral resources in the area, which include Ni-Co-Fe laterite, chromite, bauxite, magnesia, and also has the potential for gold, PGMs, and precious and semi-precious stones such as jade, nephrite, and chrysoprase. Metal recovery from the Sechol deposit will be based on an atmospheric chloride process, followed by solution purification, production of an intermediate nickellcobalt hydroxide suitable for sale, and finally acid and magnesia recovery by standard spray roasting technology. The chloride process will allow exploitation of the whole lateritic profile to produce 20,000 Mt of nickel hydroxide and 800 Mt of cobalt hydroxide per year. The exploration work completed to date has concentrated mostly on the Sechol group of deposits, representing less than 5% of the current land position of Jaguar in Guatemala. Within Sechol, the company has identified a large pocket of more than 5 Mt of laterites grading 2.1% nickel and 0.08 % cobalt as a startup pit "El Inicio". Including the work previously completed Keywords: Laterite deposits, Ophiolitic Belts, Central Guatemala, Nickel, Cobalt

Jan 1, 2004

By R. G. Warncke, Stanley M. Walker

The United States Bureau of Mines was created by an act of Congress in 1910 as a governmental agency to work , on a national scale , toward reducing the huge annual loss of life in the production and processing of the Nation's minerals . From 1906 to 1910 , inclusive , nearly 2,500 miners lost their lives in 84 major explosion disasters , and more than 13,000 suffered fatal injuries from all causes in the coal mines of the United States . Also , conditions in the metal and nonmetal mines were proportionately hazardous during this period , and the total loss of life in all mines and quarries exceeded 3,000 annually and approximately 250,000 workers suffered serious injuries . Under these conditions it is readily understandable why Congress took notice of this " high cost of mining" , and from the investigations and hearings of the day emerged the Bureau of Mines charged with the prevention of accidents and the preservation of the health of all those engaged in the mineral industry; this has continued to be a most important part of the work of the Bureau . Throughout its existence the Bureau of Mines has had no legal authority of enforcement , except during war years , when enforcement necessary to the national security was given to it . The Bureau believes that persuasion , with factual evidence , is the proper and best way to obtain compliance with the safety suggestions made by its engineers and scientists . There is no panacea for accidents , nor will any single " approach " , instill safety consciousness in all workers , and without it accidents will occur --and occur again . To persuade men to work safely, numerous forms of appeal are required to reach the various temperaments of workers in many types of mines operating under diverse conditions .

Nov 1, 1949

By S. H. Ash

THE INVESTIGATION of barrier pillars in the Western Middle field is part of the comprehensive study of the mine-water problem in the anthra¬cite region of Pennsylvania by the Federal Bureau of Mines (1, 2, 5, 6, 7, 8,9,10,11,1,2,15,16).8 The Western Middle field is in Schuylkill, Columbia, and Northumberland Counties in eastern Pennsylvania. It has an area of 120 square miles, is 42 miles long from Delano on the east to Trevorton on the west, and is 2 to 5 miles wide. In the Western Middle field are 58 underground water pools containing 38 billion gallons of water (5). Some of the pools overflow to the surface, and the water from others seeps into adjacent mines through permeable barrier pillars separating them from abandoned mines. Several active mines are interconnected to workings in abandoned mines, which are partly filled with water. These mines are separated by barrier pillars that are considered effective only below the altitude of the connections. In some abandoned mines, pumping stations maintain the water at altitudes where the hydrostatic pressure against the barrier pillars is not excessive and does not endanger adjacent active mines. If water in these abandoned mines is allowed to rise to where it can overflow into the active mines, it must be pumped from the active mines at lower altitudes; this materially increases the cost of pumping. It is estimated that from 1944 to 1948 approximately 30 percent of the water pumped to the surface was from abandoned mines.

Jan 1, 1953