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By D. R. McConnell

The seafloor in the US Pacific OCS and EEZ is enriched to varying degrees in critical and economically important minerals such as nickel, manganese, cobalt, copper, zinc, REY (rare earth elements plus yttrium), titanium, vanadium, antimony, gold, and silver. These mineral deposits take the form of polymetallic nodules on the seabed, cobalt rich ferromanganese crusts on seamounts and ridges swept clean of sediment accumulation, and seafloor massive sulfides formed by hydrothermal systems at geologic plate spreading centers and volcanic margins. Each of these mineral deposits form on or near the deep ocean seafloor where water depths are typically 4000 m to 5500 m and on the seamounts and volcanic arcs that rise from these depths. Commercial interest in deep sea mineral deposits and the potential for collecting or mining them began in earnest in the 1970s but has been heightened in the last 20 years as the international framework for developing these minerals in International Waters has matured that has coincided with forecasted rapid rising demand for minerals to supply energy and manufacturing needs for the green economy. Compilation reports published by academia, government, and private companies are reviewed to assemble data and assess the prospects for deep sea marine minerals in the US Pacific OCS and EEZ. Key compilations were made by the Circum-Pacific Council and USGS in the 1980s and 1990s. These, together with recent (2023) efforts by USGS to compile geochemical data from USGS affiliated marine research sampling cruises from the 1980s and 1990s, historical data maintained by NOAA National Centers for Environmental Information (NCEI), and recent publicly disclosed results from ISA contractors are used to inform the known occurrence and prospectivity for polymetallic nodules, cobalt-rich ferromanganese crusts, and seafloor massive sulfides in the US Pacific OCS and EEZ.

Feb 22, 2026

By M. B. McClenaghan, O. P. Lavin, Ian Nichol

"Abstract-Exploration in most areas of Canada has to contend with problems posed by glacial overburden. In many areas exploration for gold has been based on the sampling of tills, frequently by deep overburden drilling, and analyses of heavy mineral concentrates. Notwithstanding the significant role that till geochemistry has played in the discovery of some important gold deposits over the last few years, increased appreciation of the nature of the glacial history and stratigraphy and the character of gold within till has led to the recognition of a number of ways whereby the effectiveness of exploration can be improved upon.In order for till geochemistry to be useful in exploration, a number of conditions must be fulfilled, including:1. mineralization, or alteration halo related to mineralization, subcropping at the bedrock /over­ burden interface; 2.glacial erosion and dispersal of a recognizable signature of mineralization into the glacialsediments; 3, preservation of glacial sediments containing this geochemical component (trace metal or mineral) at positions subsequently selected for sampling (normally drill sites); 4. correct identification of specific till units and associated ice movement history; 5. collection of adequately large and representative samples; 6. appropriate sample preparation and processing; 7, appropriate geochemical analyses; and 8. correct data processing and interpretation.While we have no control over the first two geological conditions, and only limited controlover till availability, we can control the quality and thoroughness of sampling, sample identification, sample preparation, analysis and interpretation. In particular attention needs to be focussed on obtaining a large enough sample to be adequately representative, an unbiased sample must be collected, together with appropriate sample processing, analysis, data processing and interpretation. It is considered that by modifying or extending existing approaches to gold exploration the chances of exploration success can be increased. In particular, analyses of both the heavy mineral and minus 63 ?m fractions of till is recommended because gold in till may occur in different size fractions."

Jan 1, 1992

By G. Drennan, A. Cameron

"South African mining operations depend on the skilled professionals produced through the tertiary education sector. In geoscience courses at the University of the Witwatersrand, which lead into the mining sector, there has been a significant increase in student intake over the past 15 years. This increase has been characterized by a radical shift in demography: in classes where white male students once formed the majority, black female students are now in the majority. This demographic shift appears closely linked to policies addressing issues of social justice and transformation in post-apartheid South Africa. We document this change and consider the role played by employment equity legislation (as in the Mining Charter) and corporate social investment strategies in the mining industry, notably through bursaries offered to black female students. We also look at the changing needs of the industry, where the critical need for managerial skills, not just technical knowledge, is highlighted through data from surveys of past students and industry managers. Our findings indicate the need for a curriculum adjustment to meet these changing requirements, as well as more rigorous selection criteria for bursars than simply gender, race, and appropriate matric results. IntroductionThe South African economy has historically been linked to mining and the exploitation of mineral resources. South African mining operations are dependent on the professional labour that is produced through the tertiary education sector, with critical thinking, teamwork, and the art of negotiation having been identified as the crucial skills required for this industry (Sideropoulos, 2014). Over the past three decades the South African system of education has gone through a period of dysfunction that it is struggling to rectify (Maphai, 2014). This has impacted on the levels of academic preparedness of students applying for places in higher education. Concurrently, government and university policies have widened access to higher education in response to the need to address issues of social injustice and transformation related to South Africa’s history of apartheid. As a result, the number of students admitted to universities has increased dramatically. In the School of Geosciences at the University of the Witwatersrand (Wits), the increase in student numbers has been accompanied by a significant change in demographics: classrooms which in the past were dominated by white males have given way to classrooms in which black females are often in the majority. This demographic shift is related to legislation such as the Mineral and Petroleum Resources Development Act and the Broadbased Socio-Economic Empowerment Charter, developed to reshape the socio-economic and equity frameworks of the country (Botha and Cronje, 2015). Requirements aimed at transformation in terms of management, skills development, and employment equity, together with corporate social investment (CSI) requirements, have resulted in bursaries being made available to attract students from designated groups, which in turn has increased the number of black students, and notably black female students, taking courses in geosciences. However, due to the economic downturn, instability in the mining industry has recently resulted in the downsizing of some mines, with international investors pulling out of South Africa. This instability resulted in devastating strikes across all sectors of the mining industry (Stewart, 2013) and in Marikana, an important platinum mining area, the strike culminated in a deadly shoot-out between miners and police. The resulting tensions spilled over into the gold mining sector, resulting in further strike action, shaft closures, and retrenchments. These challenges have implications not only for the mining industry in South Africa, but for the tertiary education providers whose graduates would have been absorbed into the mine-related workforce."

Jan 1, 2017

By R. W. Coburn

The results of field experiments on wells which required stimulation indicated that engineered well-completions will cause an increase in ultimate recovery at reduced costs. Techniques and tools have been developed which can be used to establish well conditions most conducive to successful stimulation. Cementing, perforating and treating are bound together so completely that the success of one phase is completely dependent on the .effectiveness of the preceding phase. A method of determining the efficiency or effectiveness of any given well-stimulation treatment has been derived. Pressure behaviour during a treatment can be analyzed to yield the total percentage of the formation which has been treated.

Jan 1, 1960

By Victor R. Eyzaguirre

Cerro Verde is one of several large porphyry-type copper deposits in Southern Peru. The copper occurs as primary sulphides, with a significant oxide capping. The exploitation of the deposit has been correspondingly divided into two stages, the first consisting of copper production from oxides, and the second from sulphides. Minero Peru successfully started the Stage I plant in June of 1977 with the first production of electrowon copper cathodes. This paper is essentially devoted to a description of the Stage I process, which can be summarized as follows: Ore is trucked to the primary crusher, where it is crushed to 225 mm and conveyed to a coarse ore stockpile. Ore withdrawn from the stockpile is secondary crushed to 65 mm, conveyed to a truck loadout bin, loaded into trucks and driven to the leaching pads. Ore is placed on the pads in lifts and sprayed with sulphuric acid solution to dissolve the copper. Copper-bearing solution forms a pond behind a dam at the lower end of each pad and is pumped from there to the solvent extraction plant. Copper is extracted from the leach solution into an organic phase and is then stripped from the organic phase to form a purified concentrated copper solution suitable for feed to electrowinning. In electrowinning, the copper is finally recovered as cathodes suitable for sale as refined copper.

Jan 1, 1978

The established shared laboratory facilities between the Departments of Metallurgy and Chemical Engineering of the Vaal Triangle Technikon and the University of Potchefstroom are already proving to be a great success.

Jan 1, 1992

SOUTHERN CALIFORNIA LOCAL SECTION Executive Committee THEODORE B. COMSTOCK, Chairman SEELEY W. MUDD, Vice-Chairman FREDERICK J. H. MERRILL, Secretary-Treasurer, 631 Higgins Bldg., Los Angeles, Cal. A. B. CARPENTER C. COLCOCK JONES A meeting of the Southern California Local Section, in honor of the presence of Secretary Bradley Stoughton, was held at luncheon in a private dining room of the Sierra Madre Club on Friday, May 21, 1915, 27 members and guests being present. In the absence, through illness, of the Chairman, Dr. Comstock, the vice-Chairman, Seeley W. Mudd, presided. After the luncheon, Secretary Stoughton made a short address on the activities of the Institute. George S. Rice, of the U. S. Bureau of Mines, who was present, then spoke on the activities of his Bureau. Local Secretary F. J. H. Merrill gave a description of the activities of the Southern California Section and its progress, and reported the latter as substantial and its condition as very good. After some informal remarks by other members present the meeting adjourned. F. J. H. MERRILL, Secretary.

Jan 7, 1915

By Dongjie Zhang, Fengyu Ren, Xudong Li, Yanjun Zhou, Yang Liu, Rongxing He, Jianli Cao

Based on the limiting-equilibrium analysis of roof processive caving in hanging wall caving method and the critical medium column theory, a new model of subsidence prediction caused by sublevel caving mining method was proposed in this study, considering the drawing influence and the dynamic process of filling granular media. Meanwhile, the distribution rules for lateral pressure with different orebody dip were studied under drawing ore, and subsequently complemented the model. This model indicated that the surface subsidence scope decreased as the unit weight of crack rock and the orebody dip increased. In addition, the height of critical medium column showed a decreasing trend as cohesion of rock mass, the internal friction angle and the unit weight of rock mass. Also, the method of predicting the scope of surface subsidence in the Dabeishan Iron Mine was applied. The results showed that the relative errors are less than 9% and the prediction method could be used in practical application.

Feb 24, 2022

By A. Eslami

When producing high grade mattes in smelter plants, copper losses in the slag are inevitable. Hence, the recovery of copper from slag has been the focus of many research projects, copper flotation being a widely used process. In the Khatoonabad converter, 200 t/d of slag are presently produced with a grade of 2.3% Cu. Assuming a 85% recovery by flotation, about 3.9 t/d copper could be produced, which is of prime importance economically. In the present work, a sample of this slag was crushed and ground in the laboratory to liberate the copper-bearing minerals. Following mineralogical studies, optimum laboratory flotation parameters were obtained, resulting in 90.27 % recovery and 9.42% of copper grade for the rougher stage. At pilot scale, a pulp of 28% solids was floated at ph 10.5 using 40 git of Z6, 25 git of R407 and 20 git of MIBC and A65. A recovery of 83.52% was obtained for a concentrate grade of 28.36% Cu. In the rougher cells, the feed consisted of particles 94% finer than 74 microns whereas in the cleaning stage, particles were 95% finer than 44 microns. Based on the obtained results, the Sarcheshmeh Khatoonabad converter slag is presently being fed to the Chargonbad flotation plant, where a concentrate of 32% copper at 86% recovery is being produced.

Jan 1, 2007

By H Ishikawa, R Halomoan, S Palaniandy

The Karara iron ore project is a magnetite operation consist of open pit mining and concentrator to produce high-grade magnetite concentrate. The concentrator has adopted three stages of comminution, ie fine crushing in the high pressure grinding rolls (HPGR), primary ball milling and fine grinding in the TowerMill plus magnetic separation in between these comminution devices. Since 2014, the concentrator has increased the plant feed rate by 18 per cent. Meanwhile, the ore hardness has increased by 13 per cent to a Bond work index value of 15 kWh/t that led to a coarser flotation feed. Karara Mine has decided to shift the comminution workload from the primary ball mill to the TowerMill circuit by bypassing the 100 µm fine screen in between the ball mill and TowerMill circuits. This action has increased the circuit feed particle size distribution with a top size close to 1 mm. The specific energy consumption of the TowerMill circuit was approximately 3.4 kWh/t, and the circuit product sizes (P80) were ranged between 38 and 45 µm. A joint process improvement exercise was carried out to reduce the circuit product size closer to the magnetite liberation size, ie 35 µm. Among the activities were circuit audit, recommendation for improvement, modelling and simulation, multicomponent analysis, implementation of recommendations and quantification of the improvement. One of the key findings was the density effect of multicomponent minerals in the hydrocyclone. The analysis revealed that the low density coarser gangue minerals were bypassed to the hydrocyclone overflow stream that has resulted in a coarser particle size distribution. Meanwhile, more than 20 per cent of fine (-35 µm) high-density magnetite particles were recycled back to the mill through the hydrocyclone underflow stream and increased the circulating load. Based on these outcomes, several recommendations such as conversion to bottom feed configuration, use of smaller grinding media, high operating hydrocyclone pressure and additional grinding power to the TowerMill circuit were made to improve the overall circuit performances. Karara Mine has prioritised to implement those recommendations that have a minimal financial implication. Full-scale plant trials with bottom feed configuration and 17 mm grinding media were conducted to evaluate its performances. These trials have indicated that the grinding efficiency in the TowerMill was enhanced by 10 – 30 per cent. In May 2017, all the five TowerMills were converted to the bottom feed configuration. This paper discusses the impact of shifting the comminution workload load from the primary ball mills to TowerMill circuit and the performances enhancement of the TowerMill circuit. CITATION:Palaniandy, S, Halomoan, R and Ishikawa, H, 2018. Shifting the comminution workload from the primary ball mill to TowerMill circuit, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 163–176 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By Yongjun Xian

The release of fluid inclusions has a strong potential for the unintentional activation of pyrite during flotation. The present study aims to characterize fluid inclusions in a natural pure pyrite. The results indicate that a certain amount of fluid inclusions exist in the pyrite. The fluid inclusions assume a variety of shapes, including long strips, oval shapes and irregular shapes, with sizes that range from a few microns to dozens of microns. From the EDS results of hollow positions that resulted from the fracture of the fluid inclusions on the pyrite surface, certain amounts of Al, Cr, C, O, Ag and Cu were clearly detected; these elements were not detected in FeS2 pyrite itself. The contents of the inclusions were released into solution when the sample was subjected to a grinding process. Under experimental conditions of 2 g of pyrite cleaned in 40 mL of pure deionized water under an inert atmosphere, the concentrations of Cu, Fe, Cl- and SO4 2- released from the inclusions reached concentrations of 3.29 × 10-6, 32.52 × 10-6, 51.57 × 10-6 and 75.90 × 10-6 mol/L, respectively. These values are significantly greater than those from the experimental nonoxidative and oxidative dissolution of the pyrite. The fluid inclusions of pyrite were, therefore, concluded to represent the dominant sources of Cu, Fe, Cl- and SO4 2- in the aqueous solution. The present investigation provides a new understanding of the source of the unavoidable metal ions in the pulp and may benefit understanding of the flotation theory and environmental geochemistry.

By J. B. Gayle

A half-ton experimental coke oven was installed at the Southern Experiment Station, Tuscaloosa, Ala., in 1948. Designated as the Tuscaloosa oven, this unit features a 17-inch carbonizing chamber, globar heating elements, and silica-brick walls designed to simulate as closely as possible the carbonizing conditions for commercial, slot-type ovens. The reasons for constructing an oven of this Size, the details of the design, and the operating characteristics of the oven have been given in previous publications.3/4 The present report deals with the reproducibility of test-oven data and the effects of variations in flue temperature on the physical properties of the cokes produced. Also included are the results of 2,400° carbonizing tests for several coals and coal blends not included in the earlier reports.

Jan 1, 1955

By H. Y. Bassett

THIS paper attempts to show the various major operations used in nonferrous tube mills and does not necessarily represent the current practices at the two plants of the Wolverine Tube Div., of Calumet and Hecla Consolidated Copper Co. Inc. The operations now utilized in the production of tubing are quite varied and show the continual interest and advance metallurgically and mechanically to produce the best quality at the lowest cost. Naturally, any advance or lowering of cost is dependent on large production runs, which mean longer machine running time with maximum worker productivity. Standardization of tube sizes and elimination of unnecessary alloys are therefore very necessary, otherwise the development of costly new production machines would be of little benefit to the consumer as a whole. It should be noted that in such a short presentation it is impossible to describe in any detail the major operations. The short descriptions, it is hoped, will enable all who are interested to obtain a general idea of present, day practices in the copper tube producing field. Fig. I is a flowchart or sequence of operations showing the steps usually employed in tube production. RAW MATERIALS Quality starts with the raw material, and it is absolutely necessary that raw material be controlled and held to rigid specifications. Little need be said, however, regarding the raw materials for the casting of bars or billets, as the material always is purchased and checked against the various governing A.S.T.M. specifications. CASTING Casting, as is indicated in Fig. I, is quite varied and for convenience can be classified into two groups: The casting of solid billets, and the casting of hollow tubes, each of which is the base for subsequent operations. In the melting of the raw materials various types of furnaces are used, and the selection of any one is dependent on many factors outside the scope of this paper. However, as of general interest, a short description will be made of each. Induction Furnace (Low Frequency) This is popular in the melting of copper-base alloys, Fig. 2. In the induction furnace the principle of an inefficient transformer is used for the production of the necessary melting heat. The primary coil is.arranged around a transformer core made of high permeability silicon steel sheet. The secondary circuit is through a melting channel around the primary coil and opens into a hearth which contains the main charge. The heat is generated only in the melting channel, but because of the stirring action there is a constant flow of metal around the channel, which when mixing with the charge causes very rapid melting. The volatilization losses are very low as the furnace atmosphere above the charge is heated only by the heat from the melting metal. The stirring action, however, makes the use of any slag cover difficult. Such furnaces- must be started with molten

Jan 1, 1951

By Barber S

The Golden Cross Mine is located within the Waitekauri Valley near the southern end of the Coromandel Ranges, eight kilometres north-west of Waihi, North Island, New Zealand. The mine is owned and operated in a joint venture by Coeur Gold NZ Ltd (80 per cent) and Viking Mining Ltd (20 per cent). The underground mine produces gold and silver from low sulphidation epithermal quartz veins which developed in the shallow parts of a meteoric water dominated system during the Upper Miocene (7.36 - 6.67 Ma). The Empire Vein System is hosted within a dilational structural environment which developed at the lithological contact between acid intrusives, rhyolitic-dacitic tuffs and reworked pyroclastics, and undifferentiated andesites. The formation of the Empire Vein System was controlled by the rheological properties of the host rocks and variable displacement along a series of normal, right lateral, easterly-dipping faults. These faults represent sub-parallel zones of master shearing within a Riedel shear model. Underground mining extracts ore from the steeply dipping hangingwall and the complex footwall veins of the Empire Vein System. Initially sills are driven along the hangingwall vein on ten to fifteen metre sublevel intervals. In the footwall zones where significant mineralisation adjacent to the hangingwall sill drives has been identified, a series of cross-cuts and footwall drives (sub-parallel to the hangingwall sill) are also developed. Where continuity of mineralisation and ground conditions permit a combination of post pillar flatbacking and AVOCA longhole benching methods are used. Detailed underground mapping of lithology, quartz veining and major structures provides the information for designing ground support and footwall pillars, planning mine development and ore extraction sequencing. Sectional interpretation displays the vertical extent of faults, fractures and the vein system. The mining methods used underground at the mine have evolved through a thorough understanding of the structural complexity and the systematic geological mapping of the Empire Vein System.

Jan 1, 1997

By J. J. Brummer

"A reconnaissance geochemical survey, using the stream sediment technique, is described. The survey covered an area of about 400 square miles, in the Seal Lake area of central Labrador, underlain by basaltic flows, diabase and metadiabase sills, and sedimentary rocks. Previous work had indicated numerous small copper occurrences within the Seal Lake group of rocks. Stream sediments were tested for the readily extractable copper content and total heavy metal content. The results of the copper survey did not yield any new data on the distribution of copper mineralization. Results of the total heavy metal survey attracted attention to a remote portion of the area (Ten Mile Lake), which had hitherto been regarded as having no economic interest. The anomalous values found, suggested that zinc mineralization should occur in this region. Geological mapping indicated that the rocks exposed belonged to the Letitia Lake Group, which is older than the Seal Lake Group exposed to the east, which contains the copper mineralization of the district.Investigation of the area lead to the discovery of: (1) uneconomic lead-zinc mineralization; (2) radioactivity extending over a considerable area. Evaluation of the radioactive rocks led to the discovery of columbium-thorium mineralization in amphibolite and in diopside-actinolite schists along a contact with intrusive alkali syenite.Thus a geochemical survey, which was planned to evaluate a copper province, resulted in the discovery of lead-zinc-columbium-thorium mineralization."

Jan 1, 1960

By Richard Snyder

Secretariat of the Coal Mining and Mining Executive Committees' of the National Safety Council (NSC) and Manager of the memberships to both Mining Sections; Senior Consulting Safety Engineer, NSC; member of several committees for consensus Standards of the American National Standards Institute (ANSI); a Certified Safety Professional (CSP) of the Board of Certified Safety Professionals of the Americas, Inc. and a chief proctor for CSP testing and certification procedures, et al. It appears that the tunneling trade is merging into its own renaissance for the decade of the 1970s', and most likely on past the year 2001. Federal interest in underground excavation, and more specifically, rapid excavation expertise has been on the upswing since the latter part of the 1960's, mainly due to the pressing national needs for more raw materials based on the rise for material goods and the projective gloom of possible power shortages. On the pure tunneling side the national needs encompass, in the mainstream of priorities, rapid transportation and water supply excavation as the two top contenders. For instance, the estimates for tunnel mileage for the period 1968-1975 are:(1) Subways---85 miles Urban Highways--- 123 miles Intercity Highways---210 miles Water Supply Routes---528 miles at a total of 946 miles of tunnels. The estimated cumulative underground excavation demand in dollar amounts for the period 1970-1989 are:(1) Construction Oriented Demand--- $35 billions Mining Oriented Demand---$34 billions (which includes the coal-oriented demand on the order of 26 billions.

Jan 1, 1997

By Minna Rämä

Iron containing leach residues like jarosite and goethite from electrolytic zinc production contain many valuable metals and harmful substances. These metals and substances should be removed in order to obtain an acceptable, stable and reusable product, and maximize economic feasibility as well as minimize environmental footprint. In this work, the processing of jarosite leach residue was studied in laboratory scale experiments under oxidizing and reducing conditions at high temperatures. First, the pretreated material was melted and oxidized to produce a melt of metal oxides. Second, the oxide melt was reduced in CO–CO2 atmosphere. Target after the reduction step was to obtain a clean slag and a liquid metal or speiss phase that collects the valuable metals, such as silver. The kinetics of the thermal processing were studied for determining optimal times and conditions for the aforementioned process steps. The preliminary results show that the process is thermodynamically feasible, and the desired phases can be obtained in the experimental conditions investigated.

By S. K. Kawatra, J. A. Halt

"Low-grade iron ores are finely ground and processed to recover iron-bearing minerals. However, the iron-rich powder is too fine to be used directly in blast furnaces and most direct reduction furnaces, and must be agglomerated or pelletized into a usable product called “pellets.” Bentonite clay has traditionally been used as a binder to make iron ore concentrate pellets, but it is expensive and contaminates the pellets. Organic binders may be a viable alternative to bentonite clay. This manuscript reviews organic materials that have been used to make iron ore concentrate pellets. Included are discussions on the development of organic binders, common pros and cons to organic binder use, organic binder structure and its effects on agglomeration, and additives to organic binders.IntroductionIron ore agglomeration turns finely disseminated, low-grade iron ores into a usable product, called pellets. During pellet production, fine-grained, iron-rich minerals are liberated from low-grade ores, concentrated, and agglomerated into round balls that are thermally hardened or cold-bonded to form pellets. Pellets are then transported to blast furnaces or direct reduction operations where they are used to produce iron; iron is further refined and shaped into the wide variety of steel-based industrial and consumer products in use today.Over the years, pellet production has become increasingly more prevalent with the increased exploitation of low-grade iron ores and increased iron and steel consumption around the world. In 2010, world iron ore pellet production was 388 Mt. It could be argued that the current pellet production process has been enabled by the use of binders – practical experience has shown that it would be nearly impossible to agglomerate iron ore concentrates using rotary drums and discs without using a binder."

Jan 1, 2015

By Ikuhiro Sumi

A new steelmaking process, in which manganese ore was intentionally reduced, was developed to achieve a higher manganese Yield using a combined blowing converter. In this study, manganese behavior was discussed through the introduction of a model. Apparent reduction rates of manganese were calculated by the two terms that were determined experimentally, with SOkg and 2S0ton combined blowing converters. The model calculated manganese changes during the operation. We applied the model to the actual operation and found that manganese behavior was predicted fairly well by this model.

Jan 1, 1996

By B. Morris

This presentation will describe the process by which the Quebrada Blanca (QB) copper project in northern Chile was financed. It will also show how a relatively junior mining company addressed the problems created by its inability to provide its share of the equity funding and the guarantees required by the project lenders. QB is located in the semi-arid Andean highlands of northern Chile, 170 kilometres southeast of the port of Iquique and 30 kilometres west of the border with Bolivia, at an altitude of about 4,300 metres (14,000 feet). Figure 1 depicts the project's location. The QB orebody is a secondarily enriched porphyry copper deposit containing reserves of 85 million metric tons grading 1.3 percent copper. Underlying the enriched zone is a significant primary ore zone containing several hundred million metric tons grading about 0.5 percent copper. In the late seventies and early eighties Falconbridge and its affiliates spent $20-30 million dollars exploring the deposit and conducting feasibility studies. For a variety of reasons they decided not to develop the property which was returned to its owners, Empresa Nacional de Mineria (ENAMI), which is a Chilean state mining corporation. In 1988 ENAMI announced its intention to privatize the property through a public bidding procedure.

Jan 1, 1993