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By Eric Low

Raising capital by issuing debt or equity is necessary in almost every corporation. In the field of corporate finance, the raising of capital is a heavily-studied topic. However, some of what is studied on this topic in corporate finance is not applicable in the mining industry. There are also many financing options that were created for the mining industry such as flow-through shares, prepaid forwards, and royalty sales. The cyclical nature of the industry makes the risk-return profile of financings more difficult to estimate than in other industries. Additionally, the methods used to assess firm value are different than other industries, as the values of orebodies are not included on balance sheets. For precious metals companies, which are a hedge against most other securities, there are additional complications with determining investor expectations and cost of equity. This thesis puts forth a decision-making framework to explain mine financing choices from the perspective of mining companies. The approach is threefold. First, all of the major equity and debt financing instruments available to mining companies are presented and analyzed. Each financing method is assessed on a wide range of criteria. Next, these concepts are applied in case studies of four companies: BHP Billiton, Barrick Gold, Teck Resources, and Noront Resources. For each company, the overall choice of financing methods is shown and analyzed. The effect of financing choices on the weighted average cost of capital (WACC) is calculated. The final section deals with case studies of individual mine finance decisions during the past two years.

May 1, 2011

By D. M. A. Flight, G. E. M Hall, P. R. Simpson

theoretical viewpoints.

Apr 1, 1994

By L. L. Lacerda, A. J. Blair

The Wolf Creek Upper Narrows Tunnel (Upper Narrows Tunnel) is one of the first major highway tunnel in the United States implementing the use of spray-on membrane for purposes of constructing a double-shell drainage solution between an initial shotcrete lining and a final cast-in-place concrete lining (Figure 1). In the case of the Upper Narrows Tunnel the primary membrane is constructed with a spray-on product manufactured by Degussa, namely Masterseal® 340 FA (MS 340) that has been utilized previously in other tunnel projects. Shotcrete-like in application, but differing in physical properties, MS 340 is now outdated, and is succeeded by Masterseal® 345 (MS 345), a nearly identical product, with improvements in material properties. Tunnel project histories utilizing either MS 340 or MS 345 are discussed and summarized with regard to the respective motives for prompting spray-on membrane selection and the realized benefits resulting from spray-on membrane construction. With an emphasis on the Upper Narrows Tunnel, project summaries discuss details of the aspects of design for spray-on membrane construction methodology as opposed to conventional sheet membrane construction methodologies. It is anticipated that experience gained during the construction of the Upper Narrows Tunnel with respect to other tunnel projects that have utilized spray-on membrane will be of use for future tunnels employing spray-on membrane in drainage solutions.

Jan 1, 2005

By F E. Grader

A linear motor properly wound can serve as a mechanism for separating paramagnetic sulphide minerals, like pyrrhotite, from other sulphides and associated gangue minerals. The effectiveness of separation depends on the energising current of the separator, the frequency of the ac cycle, and the particle size of the minerals. The speed of travel of the minerals over the surface of the separator is also a function of particle size, and appears to be constant. The movement of pyrrhotite, magnetite and iron filings of comparable size fraction (150 ¦m +74 ¦m) on the linear motor surface has been observed using a cine camera. An attempt, has been made to give a theoretical basis for the movement of the particles by calculating the minimum electrical energy required to move them. Further, the rate of decay of magnetic moment of the particles has been estimated for magnetite and it has been found that sufficient residual magnetism existed in the particles after they had been exposed to the first half of an ac cycle for them to have like polarity with the second half of the cycle. The particles are therefore repelled from the motor surface every second half of the cycle. This repulsion due to remanent magnetism is the probable cause of particle movement over the linear motor surface.

Jan 1, 1980

By J. R. Koehler

Although two-entry yield pillar-based gate roads supported by wooden cribs have been commonly used throughout longwalling in the Wasatch PlateadRoan Cliffs coalfield of central Utah, a three-entry yield-abutment gate road configuration was recently trialed in the Hiawatha Seam at the Genwal Resources (GRI) Crandall Canyon No. 1 Mine, near Huntington, UT. Pillar, entry, and cable bolt performance were monitored through second panel mining using a fairly extensive array of geomechanical instruments installed over a span of four crosscuts. Ground pressure and entry closure measurements confirmed that the 9.1-m-wide (30-ft) yield pillar was partially shielded from first panel longwall loads by the 36.6-m-wide (120-ft) abutment pillar, and consequently, experienced only minor yielding until the approach of the second panel face. Complete yielding of the 9. I-m-wide (30-ft) pillar occurred when the second panel was approximately 6.1 m (20 ft) inby the instrumentation site. Average cable bolt loads and differential roof sag remained low through second panel mining and tailgate entry ground conditions were excellent; however, very high ground pressures in the abutment and yield pillars, and second panel rib strongly suggest a high potential for coal bumps utilizing this gate road configuration at mining cover depths in excess of 396 to 457 m (1300 to 1500 ft). This conclusion is supported by the suspected occurrence of small coal bumps along the abutment pillar ribs, observed indirectly as fresh debris in the middle entry just behind the second face. This paper presents a case history developed from the geotechnical measurements and on-site observations of this unique application of a yield-abutment gate road configuration and cable support system in the Hiawatha Seam.

Jan 1, 1996

By B. H. Moore

Foundation and excavation problems associated with lock construction projects vary widely. Each lock requires a different foundation to respond to a unique geologic setting. The range of heights and founding materials are illustrated thru description of selected structures encountered in the United States. Examples range from 113-ft high John Day Lock on the Columbia River founded on basalt rock to the 17-ft high Lock No. 5 on the Arkansas River floated on a clay foundation. A description of the basic elements of design and construction is presented. Several case histories involving lock design and construction are assessed to aid in recognition of potential problem areas on forthcoming construction. In the past decade there have been many improvements in construction materials and techniques. The application of these new approaches to lock construction is discussed.

Jan 1, 2010

By P. E. J. Pitfield, S. D. G. Campbell

The regional structure of shear and deformation zones in the belt, which is recognisable in plan view on Landsat TM images, is interpreted in terms of a conjugate-shear model. Gold mineralisation is related to this framework at a variety of scales. The principal recurrent structural geometries hosting deposits at mines such as Motapa, Durban, Charliesona, Cecil, Sunace, Turk group, Queens district, How, Peter Pat, Matabele Sheba, Goodenough, Old Nic and Bushtick are associated with shear zones and folds and include conjugate systems (shears, shear intersections, kink sets), side-step systems (en echelon segmentation, duplexes, monoclinal inflections, antiform-synform couplets) and interactions of the two. Linear sections of shear zones are generally poorly mineralised. The same geometries are identifiable on all scales from local to regional, so sections of regional structural lineaments or areas within mines should be prioritised for further investigation or development on the basis of the gold-bearing geometries observed to be dominant locally

Apr 1, 1996

By Scott Rosenthal, Logan Connolly

Butte, Montana holds a prestigious place in the history of mining, deemed “The Richest Hill on Earth,” containing a plethora of underground mines. The Orphan Boy/Orphan Girl underground mines, on the western side of Butte, operated from 1895-1956 producing zinc, lead, silver, and manganese. Today, the Orphan Boy mine is part of Montana Tech’s Underground Mine Education Center (UMEC) and the Orphan Girl mine houses the World Museum of Mining. Underground development in the Orphan Boy mine continues to progress as students from Montana Tech receive hands-on underground training; in addition, the UMEC is a multi-disciplinary research facility. Repeated underground blasting occurs in close proximity to old mine workings (wood supports installed circa 1950 or earlier). Research began to determine the impact of underground blasts on nearby pre-existing structures. Using the ISEE Field Practice Guidelines for Blasting Seismographs, one seismograph monitors the predominately-wooden structures to measure their response during each underground blast and one seismograph positioned on the surface to monitor surface structure response to the blast. This paper presents the findings of the research conducted to date for the project. The paper includes analysis of the research data, and conclusions determined from the research. Recommendations for the future work are included as well.

Jan 1, 2018

By Jake Hutchison, Wade Hutchison

The opposition to the project has risen as a result of some political pressures and from public perceptions about the project’s necessity and its impact on the neighborhood. As a result of this controversy, the Underground Conservation Hall was quickly termed “Bredesen’s Bunker” by the Media. Close exposures for blasting, required by the Conservation Hall construction project, have been regulated by specifications that regulate seismic monitoring, pre-blast and post-blast inspections. Planned blasting for the project included blasting to a depth of 30 feet (9.14 meters) within 35 feet (10.67 meters) of the front of the newly renovated Tennessee Executive Residence. Excavation for the project found more competent rock at higher elevations than identified in test drilling which required blasting within 2 feet (0.61 meters) of the side of the Residence.

Jan 1, 2009

By Archie Richardson

The trona mines in the Green River Basin, commonly known as the "trona patch," present an interesting set of rock mechanics issues stemming from mining in a unique underground environment. Like other minerals occurring in tabular deposits, trona is mined using high-productivity room-and-pillar and longwall methods. However, trona does not behave quite like other evaporites and behaves far differently than coal. In this paper, the following key issues in trona patch rock mechanics are discussed: material properties, in situ stress field, water and gas pressure effects, creep characteristics, pillar behavior, roof span stability, floor stability, underground tailings storage, longwall mining, two-seam mining. and solution mining. Many of the existing trona producers are entering potentially more difficult mining conditions, and much consideration is being given to "new" technologies such as longwall mining and solution mining. In analyzing 20 years of experience with trona patch rock mechanics issues the authors have identified key comparisons and contrasts with conventional tabular deposit rock mechanics that will help illuminate what has been learned as the trona patch enters the 21" century.

Jan 1, 1999

By R. R. Sayers

"The number of investigations reported during the past year indicates that control of the health hazard due to abnormal air conditions is still a matter of serious consideration in the mining, metallurgical, and allied industries.Australia. - In an investigation into the health and working conditions of employees in the mining industry of Tasmania and Victoria3, it was found that although pulmonary tuberculosis may occur early in life, silicosis is e disease of slow evolution and does not appear frequently under the ace of 40. A period of at least ten years in the industry was found necessary to produce silicosis, and in no case was the disease found in those who had not worked underground. A very high incidence of silicosis was found in all fields among those who had worked underground 20 years and longer. There was some evidence that silicosis complicated by tuberculosis may occur earlier than uncomplicated silicosis.England. - In a paper presented before the Section on Occupational Diseases of the British Medical Association, Dr. E. L. Middleton, the medical inspector of factories, called attention4 to the occurrence of silicosis in various industries throughout the country.punitive on some quite harmless industries. Thus Middleton says: ""Where the amount of dust is small the action of the phagocytes is likely to be effective, but where it is great . . ."" What dosage is indicated by ""small"" and ""great"" in this connexion? If the meaning of ""small"" were known, would it be correct to go on to say, as he does, ""each successive dose of silica produces a summation of effects""? Then, again, would it be fair to say ""a comparatively brief period of exposure may be the only determining factor""? What, in minutes, hours, or days per week, per month,' or year, is intended by ""a comparatively brief period""? ""Intermittency of the process"" is another expression used in summing up the reasons for and against a standardization of air purity by a gravimetric process or enumeration of the particles; the arguments against such a standardization are, by Middleton, considered strong, but they are by no means convincing to us. A standard has been accepted in respect of the amount of lead in milligrams per 10 cubic metres of air; Dr. Ronald Lane showed in another paper read that adherence to this makes the occurrence of poisoning highly improbable. Mavrogordato has placed on record figures of silica dust at different stages of the improvements in the workings of the Rand mines, and such a control is in constant operation in them today.We emphasize these points because apparently the Government has taken the unusual course of legislating first and postponing inquiry to a later date, as in the ""Various Industries (Silicosis) Scheme, 1939."" The insurance companies also have a considerable interest in the matter of compensation for the silicosis risk. Where exposure - as in the refractories industries, the grinding industries, sandstone industry, and pottery industry - is day in and day out, they rightly demand a premium far higher than for any other disease scheduled under the Workmen's Compensation Act - 5 per cent on the wages bill. row every industrial employer, such as the paint and varnish manufacturer, who has a sack of crushed silica in his store .room, from which he extracts once a week enough to make a paste With spirit and add to his other ingredients in order to give them the necessary ""bite,"" becomes involved, and may have to abandon the use of the material or pay 8 per cent on his wages bill for an absolutely negligible risk.. For meting out justice standardization seems urgently called for."

Feb 1, 1930

By L. Moyd, P. Moyd

The first commercially available portable gamma ray-neutron beryllium detector, the Rerylometer, was developed by the same group that developed the first practical portable scintillation counter, the Scintillo-meter. This group includes Professor George Brownell, of the Geology Department of the University of Manitoba in winnipeg, and his associates, K. I. Roulston, R. w. Pringle, and R. L. Funt, of the Physics and Engineering Departments of the University of Manitoba. A prototype model was tested in the field by Dr. Brownell during the summer of 1958. Commercial production was undertaken shortly thereafter by Nuclear Enterprises Ltd., of Winnipeg, and a license for manufacture and distribution in the U.S. was granted to Isotopes Specialties Co., of Burbank, California, a division of Nuclear Corporation of America. Early in 1959, we were retained by the 'Mining Division of Minerva Oil Co. to Legin a search throughout North America for minable deposits of beryllium, and to train members of their permanent staff to continue the program. The project included literature sur-veys, interviews with members of various federal, state, and provincial agencies, scanning of our own collection of suites of specimens from various mineral occurrences, and the examination of deposits in the field. The value of a beryllium detector to this program was obvious and arrangements were made to procure one as soon as possible, which resulted in our obtaining and using the first instrument that was produced commercially in the U. S. In addition to the commercially available Berylometer, Mr. William Vaughan and his associates, of the U. S. Geological Survey Geophysics Division, in Denver, have developed and tested several experimental instruments based on the same principles. DETECTOR Principles The detection of beryllium is based on the fact that "hard" gamma rays (1.6 MEV and geater), such as those produced by Antimony convert ordinary beryllium (Be9) to Be8 , with the release of a neutron. The neutrons are counted by a scintillator designed to favor neutron responses while suppressing those of gamma rays. 'The instrument is completely selective for beryllium. No other element can interfere. Instrunlentation The Rerylometer itself, which is cylindrical, is about 8 inches in diameter, 13 inches high, and weighs about 11 pounds. (Figs. 1, 2). The principal components include: 1. A disc of wax to moderate (or "thermalize") neutrons. 2. A boron-enriched polyester-zinc-sulphide fluorescent screen. This material produces strong flashes when struck by thermalized neutrons but only weak flashes from gamma rays. 3. A photomultiplier tube. 4. An electronic circuit, complete with one srnall 71/2-volt dry battery. The photomultiplier tube and electronic circuit convert neutron flashes to electrical impulses, but gamma ray effects are almost

Jan 1, 1961

By Anderson Ayres Bittencourt

O monitoramento de sistemas e ativos de automação sempre existiu de forma rudimentar e descentralizada. A análise desses dados tanto quanto sua obtenção é um desafio para as empresas atuais. Foi a partir deste princípio que nosso projeto foi desenvolvido.Este trabalho tem como objetivo demonstrar a solução de Monitoramento online e preditivo implementada na ArcelorMittal Aços Planos da América do Sul, onde desde o início de sua implementação pudemos capturar benefícios operacionais, melhoria dos processos, otimização, eliminação e/ou diminuição de indisponibilidade de plantas, entre diversos outros retornos que serão apresentados.

Oct 30, 2017

By P. N. Anyalebechi

Keywords: Aluminum alloy 3004, Solidification rate, Homogenization, Second phase particles The effects of the fineness of as-solidified cast microstructure and temperature on the response of aluminum alloy 3004 to homogenization heat treatment (a.k.a. preheat) have been investigated. The study was conducted at 538oC and 595oC on directionally solidified laboratory-size ingots with a range of solidification rate of 0.10oC/s to 29.4oC/s. Optical and electron microscopy, quantitative image analysis, electrical conductivity, and electron probe microanalysis were used to quantify the effects of the homogenization heat treatment on the microstructure of aluminum alloy 3004. In general, increase in fineness of as-cast microstructure and homogenization temperature enhances the a-transformation reaction, dissolution of Mg2Si, elimination of dendritic microsegregation, and dispersoid formation. The homogenization heat treatment reduces the average size of second phase particles in castings solidified at <1oC/s. However, in castings solidified at above 1oC /s, homogenization causes the coarsening of the second phase particles. Mn in solid solution is independent of homogenization heat treatment temperature.

Jan 1, 2005

By J Cahill, D Holden, R Stuart, G Cryan, W Power, W Stratford, S Garwin

The combination of Stage 1 Geoinformatics legacy data intervention processes with the Stage 2 ultra-detailed airborne geophysical prospecting demonstrates a new approach to converting data to information to knowledge, and converting that knowledge into exploration results. &nbsp; The Coromandel region of the North Island of New Zealand has long been know to host gold deposits of economic viability (Hauraki Gold Fields). To the SE of this area lies the Taupo Volcanic Region (TVR) where the geology and structural setting mirror the Hauraki Gold Fields, however mineral exploration in the past has been hindered by the blanketing volcanic ash deposits. Glass Earth Limited recognised that this whole potential epithermal gold province could be effectively explored utilising rapid, risk orientated processing to review legacy geoscience data: The Geoinformatics Data Intervention Process; which in turn directed ultra detailed airborne geophysical surveys over the TVR. Results have outlined 21 new drillable potential epithermal gold targets; and a plethora of other targets with high prospectivity.

Jan 1, 2005

By Associates

The headwaters of Skippers Creek and the Shotover River are reputed to be among the richest alluvial gold catchments in the world. This alluvial gold has no doubt been derived from reef systems similar to, and associated with, the Bullendale lodes. Physiographically the prospect covers steep ridges and deeply incised gullies between the Richardson Mountains in the west and the Harris Mountains in the east. Vegetation is mainly tussock with bush either side of Murdochs Creek. Access to the area is by metalled road to Skippers and then by 4WD track to Bullendale. Alternatively the prospect area can be reached by helicopter from Queenstown in around ten minutes.

Jan 1, 1992

By Henk E. Brassinga

In Rotterdam a number of underground parking facilities have been built and are under development in the inner city, and in the suburbs. These parking facilities are located at already densely built areas. The design of these constructions has to take into account the impact of the building activities and that of the final construction on the surroundings. In this paper some examples of the different building methods of newly realized underground parking facilities are described, and problems that occurred during the construction are pointed out. In the soil conditions as present in Rotterdam the cost effectiveness of underground facilities can be improved by deepening the parking facility, and at the same time reducing the surface area so that the total parking volume remains constant. In this way the total volume of the diaphragm walls and the costs of the project is reduced.

Jan 1, 2006

By L. Bloomquist

This paper describes how Automated Mining Systems (AMS) is evolving the state-of-the-art in guidance systems for autonomous underground vehicles. The techniques, trade-offs, and lessons learned from these systems are described, including the safety regime that has been implemented. First generation autonomous guidance systems for underground vehicles relied on infrastructure for the vehicle to follow. However, there are additional costs associated with that approach. The current generation uses a pair of laser range finders as its only guidance sensors. This system uses a minimum of infrastructure, in the form of a redundant system of location referencing. Advanced steering and drive control algorithms are incorporated into this generation of system. The next generation of infrastructureless guidance systems will be based on a 3D vision sensor, which was originally developed for autonomous Mars rovers and is being adapted for underground mining use. Results of early underground field trials are presented, along with a description of this emerging technology.

Jan 1, 2004

By L. Bloomquist, C. Arnoldi

"This paper describes how Automated Mining Systems (AMS) is evolving the state-of the- art in guidance systems for autonomous underground vehicles. The techniques, tradeoffs, and lessons learned from these systems are described, including the safety regime that has been implemented.First generation autonomous guidance systems for underground vehicles relied on infrastructure for the vehicle to follow. However, there are additional costs associated with that approach.The current generation uses a pair of laser range finders as its only guidance sensors. This system uses a minimum of infrastructure, in the form of a redundant system of location referencing. Advanced steering and drive control algorithms are incorporated into this generation of system.The next generation of infrastructureless guidance systems will be based on a 3D vision sensor, which was originally developed for autonomous Mars rovers and is being adapted for underground mining use. Results of early underground field trials are presented, along with a description of this emerging technology."

Jan 1, 2004

By J Kokado, N Hatta, S Yabushita

A theoretical model is described for prediction of the capacity of fines from porous ores, such as cokes and sintered ores, to be removed by a pneumatic, horizontal-type classifier prior to charging into a blast furnace. First, the influence of variation in the apparent density and drag coefficient of porous ores on removal efficiency is analysed from a stochastic standpoint. The effect on efficiency of collisions between particles in the classifying region is then examined analytically in relation to the ratio of the mass flow rates of particles and air (the loading ratio). Finally, a theoretical model is constructed that takes these factors into account. Theoretical and experimental results are compared and classifying efficiency is discussed from both experimental and theoretical viewpoints.

Dec 1, 1993