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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

The HB 2500 hydraulic breaker attachment from Atlas Copco Construction Tools features Krupp percussion technology and a service weight of 2,500 kg (5,512 lbs). This makes it ideal for demolition, tunneling, trenching, foundation work, rock mining and secondary breaking. Suitable for carriers in the 29-to 43-t (32-to 47-st) weight class, the HB 2500 accepts maximum hydraulic flow of 219 L/min (58 gpm) at 18 MPa (2,610 psi) of pressure, and delivers an impact rate of up to 550 blows per minute. The HB 2500 features PowerAdapt, a new system that automatically shuts down the breaker in the event that it receives excessive oil pressure from the carrier.

Jan 1, 2006

By P N. Holtham

Magnetic separation is routinely used in the processing of titaniumminerals, and the efficiency of these operations can be determined bymeasuring the magnetic properties of the process streams. The valuable components in the feed to a titanium minerals plant have specific magnetic susceptibilities ranging from -10-9 m3 kg-1 (zircon) to 10-6 m3 kg-1 (ilmenite). However, in an industrial environment, in which the mineral temperature may range from 20 to 120¦C, it is difficult to measure susceptibilities lower than about 10-7 m3 kg-1. Hence laboratory testing of spot samples from magnetic separators is currently required to obtain accurate performance data. This is an inherently slow process and where feed grades are variable, optimum performance of magnetic separators is generally not achieved.This paper describes the development of an inductance-basedinstrument for measuring very low levels of magnetic susceptibilityon-line. The signal from the instrument can be used for process control purposes to maintain optimum magnetic separator performance.A prototype instrument has been installed in the zircon scavengercircuit in an Australian titanium minerals plant. The circuit consists of a roll magnetic separator treating a feed consisting mainly of monazite and stained zircon. The monazite-rich magnetic fraction is returned to the mine site for disposal, while the non-magnetic fraction is recycled to the zircon wet circuit. Splitter positions in the separator are adjusted when the final zircon product fails to meet specification, or the magnetic fraction contains more than 30 per cent zircon. Weekly composite grain counts show that sub-optimal operation of the magnetic separator results in significant zircon losses into the magnetics fraction.Using the instrument, the zircon content of this stream can now beaccurately determined from the measured magnetic susceptibility,provided a correction for the effect of mineral temperature is applied using the Curie - Weiss relationship.

Jan 1, 2001

By Trevor Ellis

The following is extracted from a report by the author to the International Valuation Standards Committee (IVSC), with minor modifications for the purpose of publication. The author represented the IVSC at the annual session of the Ad Hoc Group of Experts on Harmonization of Fossil Energy and Mineral Resources Terminology. This is a body organized by the United Nations Economic Commission for Europe (UNECE). This second session, held in Geneva, Switzerland, achieved an important agreement for advancement toward uniform global standards for the classification of minerals and petroleum reserves and resources. Attendees discussed the possibility of enhancing the United Nations Framework Classification for Energy and Mineral Resources (UNFC) for implementation globally as the classification standard for use in financial reports under the International Financial Reporting Standards (IFRS). Presently, there are between 100 and 200 mineral and petroleum resource classification (or definition) systems throughout the world — a similar number to what there are countries.

Jan 1, 2006

By Thomas Leonard, Philip R. Berger, Bryan E. Papillon

Bardon Trimount Inc., a large producer of aggregate, crushed stone, and concrete, was experiencing significant public opposition to its five quarries in the Boston area. It was believed by the authors that this opposition could be significantly lessened if the total number of blasts per week were reduced. Although the blasting company at these quarries, Austin Powder Company, contended that this could easily and safely be accomplished by increasing the size of the blasts, regulations precluded this alternative by limiting the total amount of explosives that could be used per blast.

Jan 1, 1996

By Charles L. Kimbell

The year 1986 was not a good year for the world's mineral industry from several viewpoints. Levels of production, both of crude minerals and processed forms, registered declines in the cases of a greater number of commodities than the number that recorded increases. The overall value of world crude mineral production was estimated to have increased, but only very slightly in terms of constant dollars to nearly $997 billion. Although there were modest increases in the consumption of all major fuels and most major metals, the latter at least apparently resulted more from drawdowns of inventories than from increased production (fuel consumption increases did come from higher output levels), and consumption of most major fertilizer and chemical commodities (nitrogen, phosphate, and sulfur) were at lower levels than those in 1985. Prices for a number of mineral commodities declined, headed by the very substantial drop in world crude petroleum prices, but also including downturns for a number of metals and industrial minerals as well. There was insufficient information to reliably fix the level of the dollar value of world trade in minerals, for while output was up in the case of some large-volume materials such as iron ore, coal, and crude and refined petroleum, suggesting that the volume of trade in physical units may have increased, declining prices may well have offset quantitative gains.

Jan 1, 1988

By Richard Stayner

Suspended seats perform two functions: Reduce effect of occasional large bumps; Reduce more continuous vibration at a lower level. The former needs high damping. The latter needs low damping. For most mobile work machines the inevitable compromise is generally better than a simple cushion seat, because that amplifies vibration at around 4 Hz which is a sensitive frequency for human vertical WBV. Why have standard tests for seat suspensions? • Seat suspensions are non-linear so any measure of performance depends on operating conditions. For comparison these need to be defined. • Seat manufacturers need benchmarks for product development; • Machine makers choose dynamic characteristics appropriate to their products; • Occupational health specialists wish to control operator exposure to Standard tests should be representative, repeatable and reproducible. These requirements are reviewed in relation to the history of seat test standards and the current position. Current position and history The current position is that we have standard tests for seats for agricultural tractors, earthmoving machinery, industrial (fork-lift) trucks. These tests comprise measurement of vibration transmission and of the rate of damping. Current standards developed as the technology developed, starting around 1960: 1. Test on machine driven over standard surface1. 2. Test on shaker reproducing standard surface. 3. Shaker input replaced by representative spectrum2. 4. Human subject replaced by dynamic dummy. (Not yet settled). Are standard tests representative? The development process has gradually moved seat tests further from reality. 4 hr samples of work exposure suggest that seats do not on average provide large reductions of vertical WBV3. For specific magnitudes of vibration they can work well. For low vibration, performance is reduced by friction and for severe vibration by length of travel. Recent work has led to a new test to quantify how a suspension controls over-travel 9.

Jan 6, 2006

By C. K. Man

Coal dust explosions in underground coal mines are prevented by generous application of rock dust (usually limestone). If an explosion should occur, the rock dust disperses, mixes with the coal dust and prevents flame propagation by acting as a thermal inhibitor or heat sink. To investigate this process in more detail, a number of explosion experiments using various coal dust and limestone rock dust mixes have been carried out at the Lake Lynn Experimental Mine (LLEM). These were conducted in a single entry of about 1600 ft (488m) in length and initiated with a methane gas explosion. A consistent set of post-explosion floor dust samples were taken along the entry after each test. These dust samples have been analyzed in the laboratory using thermogravimetric analysis (TGA) and solubility to determine how the limestone rock dust behaved during the coal dust / rock dust explosions. The preliminary results are reported in this paper and indicate that the chemistry of limestone plays an important role in its capacity to inhibit coal dust explosions. The results also show that it may be possible to estimate the intensity of the explosion using these conventional methods of analysis. Disclaimer: The findings and conclusions in this report have not been formally disseminated by the National Institute for Occupational Safety and Health and should not be construed to represent any agency determination or policy.

Jan 1, 2009

By K. M. Kim

A site-specific blasting model has been developed for the Asarco Mission mine. The main inputs to the model are the in-situ block size (F80), the post-blast fragmentation (P80) and the intact tensile strength (To). The output from the model is the specific blast energy (ESE). Modern techniques are being used to obtain the input parameters for the site-specific blast fragmentation model. In particular, image processing software is used to obtain both the in-situ block size and the post-blast fragmentation, and the Schmidt hammer is used to obtain the tensile strength at numerous locations throughout the rock mass. An initial model was developed using five test shots in one area of the mine that contains Argillite and is relatively homogeneous. This also included calibrating Schmidt hammer readings against actual Brazilian tensile measurements. The model for Argillite will be updated as more tests are conducted, and the model will be extended to the other four primary rock types at the Asarco Mission mine.

Jan 1, 2011

By L Tolmay, L Nair

Investor confidence can be compromised when one observes large discrepancies between the SAMREC reserves and the mining plan. It is therefore up to the responsible persons to ensure that all contributing factors get taken into account when determining a reserve declaration. Confounding factors could be further aggravated by large oscillations in the commodity price thus resulting in major changes to the mining plan, if the accepted price was either too optimistic or pessimistic. Additional factors that must receive our attention are, uncertainty in geological facies type, mining practices, geology and grade estimation. The paper outlines (in the authors? opinion) some of the important factors that need to be taken into account, in order to ensure proper alignment between the estimates of the life of mine (LOM) reserve grades, and the corresponding actualisation of the mining plan. These parameters provide an historical insight into what actually happens when attempts are made to implement the mining envisaged in the LOM plan. In turn these allow judicious application of discount factors that enable a realistic estimate of SAMREC reserve classification and declaration. Some of the factors that will be covered are: - 1) Flexibility of developed reserves and the ability to maintain this. 2) Mining control mechanisms and their overall efficacy. 3) The ability to extrapolate facies types and its effect on grade control. 4) The ability to control the mining mix and value variation. 5) Finding a happy medium between optimism and pragmatism.

Jan 1, 2007

By J. A. McCamley

Gypsum scrap generated from wallboard manufacturing, construction and deconstruction activities in North America, Europe and Japan is a recognized environmental problem. Landfill disposal of this gypsum scrap is problematic, with deposits often creating hydrogen sulphide emissions and metallic sulphide groundwater leachates. Of these regions, Europe is the most advanced in dealing with the issue having enacted legislation, which will come into effect in July 2005 that will strongly encourage gypsum recycling throughout the EU. An estimated 10% to 17% of all gypsum used in the wallboard industry becomes recyclable scrap, which represents approximately 1% of the total waste stream in North America. In the United States, 2.5 to 4.5 Mt of gypsum scrap is generated each year; the volume is similar in Europe (the percentage of total tonnage is less because of the higher use of brick and concrete). The Greater Vancouver region of British Columbia has banned gypsum from its landfills, and as a result, all gypsum scrap is now recycled. New West Gypsum Recycling, a Canadian firm, uses its proprietary technology to process large quantities of gypsum scrap that is reincorporated into new wallboard, at percentages ranging up to 25%. The operation of New West Gypsum Recycling Inc. of Langley, Vancouver is examined as a case study and recommendations are provided as to how other urban regions can implement similar gypsum scrap recycling programs.

Jan 1, 2004

By H. Nan

Using the case of Qianqiu Mine, Yima Coal Mining Administration, theoretical analysis, laboratory physical simulation, and underground observation were performed to study the major parameters for fully mechanized sublevel caving mining method, including drawing spacing, drawing sequence, drawing numbers, and number of shields performing simultaneous drawing. The effects of those parameters on coal recovery and amount of waste rocks were also investigated. The optimal coal drawing technology for this case was obtained.

Jan 1, 2006

Prediction of fragmentation by blasting is most commonly based on theassumption that a single distribution of pre-existing discontinuities is present within a blasted rock volume and that the underlying mechanism of failure is tensile failure. It is assumed that the tensile stress field created by a blast initiates and extends radial cracks around the blastholes. Interaction between radial cracks from different blastholes and the free surface creates rock fragments. In reality, fragmentation of the rock occurs due to two mechanisms.One is related to the compressive-shear failure of the rock (mainly rock matrix) close to the blastholes, while the second mechanism is the previously mentioned tensile failure of the rock mass. The secondmechanism of failure occurs in the form of extension of the larger cracks in the region beyond the crushed rock, and this type of fragmentation occurs after the crushing phase. In the case of hard rock or blasting where the extent of crushing is minimal, the currently used prediction methods give a reasonably good result. However, there are many blasting conditions where the amount of rock crushing is significant. In the case where fragmentation of the given rock volume occurs dueto two different mechanisms, modeling of the rock fragmentation with a single distribution function is not appropriate. To model the fragment size distribution generated by two different mechanisms, it is necessary to use a two-component fragment size distribution function and a scaling parameter that will determine the proportion of the fragmented volume created by each mechanism. The purpose of this paper is to present results of blast fragmentation modeling based on two mechanisms of failure. The two-component model (TCM) utilises experimentally determined parameters from small scale blasting and parameters of the Kuz-Ram model, for more accurate prediction of the complete rock fragment size distribution curve. The methodology is such that it is possible to predict complete fragment size distribution, including fines, of ROM product for a future mine, at the feasibility phase of mine design.

Jan 1, 1999

To obtain the best economic results in treating the comparatively high-grade ore of the Kalgurli Mine a good roast is essential, and the effort of this paper will be to briefly describe the plant and the conditions prevailing in roasting, which, on an output of about 360 tons daily, subsequently enable an average extraction of slightly over 94% of the gold to be maintained.The percentage of sulphur in the ore varies between 2'5 and 3'5, the lower figure existing when treating oxidized ore. The average gold value is 13 dwt; this occurs chiefly as sylvanite, containing .a lower percentage of silver than is usually present in that mineral. One ore body in the mine contains hessite (Ag2Te) in considerable quantity, associated with gold telluride, and when ore from this stope is being treated the silver contents rise to as high as 20 dwt, but the usual amount is about 9 dwt. per ton, of which only a small proportion is extracted. Other metallic minerals, in addition to pyrite, occurring more or less commonly, are arsenopyrite, magnetite, chalcopyrite, and the tellurides calaverite (AuTez)and coloradoite HgzTe3). A small proportion only of the value occurs as free gold.

Jan 1, 1911

By G. B. Harris, C. W. White

Cyanide has been used for the recovery of gold since the mid 1800s, but several jurisdictions have already banned its use, and environmental pressures are increasing to finding an alternative. Gold also forms chloride complexes similar to those of cyanide, but the use of chloride has never achieved widespread acceptance. This paper describes a chloride-based flowsheet, wherein the key unit process is the recovery and recycle of chloride ion. It is shown that the chloride-based flowsheet is competitive economically with the conventional cyanide-based flowsheets, and that it has a number of other advantages, particularly environmentally.

Jan 1, 2011

By Mary C. Nodine, Michael P. Walker, Paul Eggers, Donald E. Aubrecht

The CANALSIDE commercial development in Buffalo, New York serves to revitalize the former site of the Buffalo Memorial Auditorium, adjacent to Lake Erie. The Auditorium was constructed in 1940 and founded on steel H-piles driven to limestone bedrock. After decades of professional sport and entertainment events, the “Aud,” as it was locally known, was closed in 1996. It sat vacant until it was demolished in 2009, at which time plans were made to revitalize the area with shops, restaurants, and a historic replica canal. The only portion of the Aud that was left intact was a subbasement boiler room. The subbasement was renovated in 2014 and has since been used to house water and ice making equipment for the historic replica canals, which boast recreational ice skating in the winter. The subbasement floor was about 10 feet below groundwater and the Lake Erie water level. The floor consisted of an approximately 4-foot-thick layered inverted waffle slab system, with reinforced concrete grade beams and concrete infill between the grade beams. A waterproofing membrane was located near the base of the slab. There were no major seepage issues in the subbasement, so the existing waterproofing membrane was assumed to be intact and performing adequately. A four-story building housing a children’s museum was proposed to be constructed directly above the subbasement. The loads imparted by the new building would exceed the capacity of the existing piles, so it was determined that drilling micropiles through the subbasement floor would be the most practical means of supporting the new building. Drilling through the existing slab and waterproofing system was a concern due to the challenges of controlling water during construction and the importance of maintaining the integrity of the permanent waterproofing system.

Jan 1, 2018

By J. L. Moreno, A. L. Williamson, R. D. Bartlett

Large open pit mines in desert climates, such as the Phelps Dodge Morenci copper mine in Arizona, can create groundwater cones-of-depression of considerable size and stability. The hydraulic containment provided by the groundwater depression prevents migration of process solutions into the surrounding regional aquifer. Copper leach operations that fall within the groundwater depression may not require costly lining if passive containment can be demonstrated. An approach is presented in this paper that was successfully used to demonstrate passive containment. The approach includes a combination of groundwater modeling and a water balance analysis of leaching operations failing within or immediately near the open pit.

Jan 1, 1999

CHAPTER 1 - GENERALIn the introduction to this chapter a general account is given of the growth of the mining industry in Western Australia from J88G, when the output of gold for the whole State was only £1148, to 1908, when: the output had risen to £6,999,885. In 1903 the output reached £8,770,719.It is quite evident that the discovery of gold in Western Australia was the means of opening up the road to broader industrial expansion, and it is doubted if any other portion of the British Empire more clearly exemplifies the nation-building forces of metalliferous mining than this State.The chapter includes an account of the following situation and history of the field.CHAPTER 2 - GEOLOGYIn this chapter the classification of the rocks of Kalgoorlie, but particularly those on the Golden Mile, is considered. Each rock is described in detail, and microphotos are shown to indicate the most important features in each type. As far as the Golden Mile is concerned, it is held that, notwithstanding the general chemical and more or less dynamical metamorphism which the rocks have suffered, it is possible to divide them into six groups...

Jan 1, 1912

By Jacques J. Eksteen

Metallurgical accounting around toll treatment smelters pose a number of challenges. This paper reviews the requirements for good sampling practice, and how conflicting requirements for good furnace operation and design often makes reliable closure of the metallurgical balance tenuous at best. Typical physical causes of variance and bias will be identified. The propagation of error (in the form of variance) will be discussed for a copper smelter.

Jan 1, 2006

By Charles L. Kimbell

For the world mineral industry as a whole, the year 1981 was a period of continuation and, in some instances, an acceleration of negative trends extending back into 1980. Most available statistical data reflected stagnation or downturns in activity. Levels of production, trade, and consumption declined for a substantial number of leading mineral commodities, including, most notably, steel and petroleum. Investment, if not lower than in 1980, was evidently increasing at a more modest rate. Prices for major mineral commodities were generally lower, at least in terms of constant dollars, and in some cases even in terms of current dollars. Prospects of a major reversal of these patterns seemed dim. The mineral industry, however, was far from alone in this general downturn; most other elements of the national economies of the world's nations fared little better. General conditions of inflation, recession, and reduced industrial product consumption were reflected in most other sectors of the total economy. International political events continued to influence mineral output and flow but had less influence on overall levels of activities than on the geographic distribution of these activities. The Iran-Iraq war certainly played a role in reducing mineral industry activities in those nations, but the commodity most affected, petroleum, was available from other sources in sufficient quantity that, in the face of reduced demand, a substantial surplus developed.

Jan 1, 1983