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By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco's development of the Weipa bauxite deposits in Northern Queensland in the late 1950's, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960's, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA's interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt's is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor's balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor's activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER'S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By J. P. Gliddon, G. C. Wade, J. W. Lill

Since 1980 a number of significant changes have been introduced at Palabora in an effort to offset the effects of reduced product price and increased unit costs of production. These changes and improvements include major equipment rationalization programs, the introduction of trolley-assisted truck haulage, adoption of a sophisticated computerized truck control system, pit design enhancements, improved drilling practices, use of emulsion explosives, and the installation of an in-pit crushing and conveying system. The various changes, their effect on the operation, and their contribution to cost reduction and improved productivity at Paihbora are considered.

Jan 1, 1987

By Simon Strong, Tim Brown, Luis Ignacio Sanz Vivanco

"One of the most significant technical and practical challenges facing the tunnel construction team on the Legacy Way road tunnel project in Brisbane, Australia was how to erect the pre-stressed precast concrete slabs to form the smoke duct in the tunnel boring machine (TBM) tunnels. An essential part of the tunnel ventilation system, the smoke duct, extends the full length of the 4.6km long twin, two lane tunnels. The vast majority of the tunnels (approx. 4.3km) were constructed using two 12.4m diameter double shield TBMs. The refurbished Herrenknecht machines broke several world records on the way to completing the tunnel excavation works in just over nine months. With the excavation complete the focus turned to solving the complex civil tunnel fit out challenges. A key component of the civil fit out of the tunnels was constructing the smoke duct in the TBM tunnels which was designed as a precast solution. The slabs which each measure 8.62m long by 2.0m wide by 200mm thick and weigh close to 9 tonne need to be erected above cast in situ corbels whilst other tunnel finishing works continue. The space proofing clearance offered by the design to the support corbels below and the precast segmental lining above was in the order of only 100mm. This paper details the events of how the Transcity JV tunnel fit out team, comprising some of Europe and Australia’s leading tunnel construction specialists, drew upon the global strengths of the existing JV member companies and the global reach of leading TBM manufacturer Herrenknecht to develop an innovative system to solve this challenging problem. This globetrotting story, which starts in Australia, visits Europe and mainland China before returning to Brisbane where it all began."

Jan 1, 2016

By P. Latostenmaa, O. Forsén, M. Lundström, J. Aromaa

The history of electrolytic copper production in Finland is closely connected with the industrialization of Finland and events of the Second World War. Production of cathode copper by electrowinning from the processing of Outokumpu ore started in 1913 based on the Hybinette nickel process, however due to the poor performance of this process, the plant was closed in 1929. Outokumpu commenced copper smelting at Imatra in eastern Finland in 1936 producing blister copper for refining outside the country. Due to the threating military situation, a new electrolytic copper refinery was built in 1941 at Pori in western Finland to refine the anodes. This was the first electrolytic copper refinery in Finland. It was built with 108 cells having a capacity of 12,000 tonnes/y. In addition, the smelter was relocated to nearby Harjavalta in 1944–1945. To fulfill the war reparations included in the peace treaty with the Soviet Union, a doubling of the smelter capacity was realised, with the Pori refinery capacity increasing to 20,000 tonnes/y in 1946 by adding additional cells. The cornerstone of Finnish metallurgical technology — Outokumpu flash smelting — was invented with the new technology commissioned at Harjavalta in 1949 replacing the electric furnace and providing a further increase in copper output with subsequent enlargement of the refinery. By 1963, the plant consisted of 380 cells with a capacity of 48,000 tonnes/y of cathode copper. The Pori electrolytic copper refinery has operated continuously since 1941. Commencing in 2004 the Pori refinery has been part of the Boliden group of Sweden. The most recent plant upgrade was in 2007 with the installation of permanent cathode technology. In 2017, the production of the Pori refinery was 133,000 tonnes of copper cathode, 2,300 tonnes of nickel sulphate, along with 66 tonnes of silver and 4.6 tonnes of gold. This paper describes these outstanding achievements. INTRODUCTION In 1809 the Kingdom of Sweden was defeated by the Russian Empire in the Finnish War, and Finland was annexed by the Russian Empire as the autonomous Grand Duchy of Finland. Finland’s commercial and industrial interests were developed to serve the Empire’s needs. Finland had raw materials, but at the start of the 20th century Finnish industry was based on the use of wood as raw material and agricultural products. The mining industry was only a few percent of the country’s industrial production.

Jan 1, 2019

By R. L. Brown

This report, the seventeenth in an annual series, summarizes Bureau of Mines research and technologic work on coal and related investigations for July 1, 1951, to July 1, 1952. It 1s based largely on publications issued during the fiscal year, although 10 some instances data are presented that have not been published previously. Footnote references are given to the publications so that further details on the work may be obtained. Bureau of Mines research on the mining, preparation, and utilization of coal is directed toward developing and encouraging safer and more efficient mining practices and preparing and utilizing coals to the best advantage.

Jan 1, 1953

By J. P. Gliddon

Since 1980 a number of significant changes have been introduced at Palabora in an effort to off-set the effects of reduced product price and increased unit cost of inputs. These changes and improvements include major equipment rationalization programs, the introduction of trolley assisted truck haulage, adoption of a sophisticated computerized truck control system, pit design enhancements, improved drilling practices, use of emulsion explosives and the installation of an in-pit crushing and conveying system. The various changes, their effect on the operation and their contribution to cost reduction and improved productivity at Palabora are considered.

Jan 1, 1987

By John C. Cook

Channel sand bodies ("wants" or "cutouts") are deposits of barren, hard sediments which interrupt production and pose safety hazards when encountered in underground coal mining. To locate these costly impediments to mining in advance, from the surface of the ground, the seismic reflection method is recommended. High-resolution (high frequency) techniques for shallow seismic exploration of coal beds have been worked out and are reported here, including a field example. Newly-developed high-frequency, digital recording equipment was used, together with light-weight shot-drilling equipment and a variety of down-hole seismic impulse sources. Techniques for rapid but complete coverage of a coal prospect area with a crew of 2 to 6 men n 2 or 3 vehicles are described in detail.

Jan 1, 1976

By Stanley G. Butcher

"The methods generally applied to predict performance and financially evaluate beneficiation options are reviewed.Typical costs f or a western Canadian thermal coal operation are examined. Preparation-from truck dump to loadout-frequently amounts 10 over a quarter of total minesite costs. Failure to achieve projected yield-whether caused by mine or plant problems-s-substantially increases production costs because more coal has 10 he mined to meet a specific market demand. Problem identification by mass/ash balances is recommended.Thorough characterization of the coal and associated waste materials and more reliable prediction of beneficiation process performance are therefore essential to determine a project 's financial viability.IntroductionWestern Canadian coal prep a ration plant capacity is partway through a massive expansion program . In 198 1 potential product ion was 14 million tonnes, by 1985 it will be 26 million tonnes per year. Only two years ago the industry was concerned whether it could sustain this rate of growth to meet market demands : now with diminished market demand and lower coal prices being offered by our international competitors there are doubts whether t his potential will be fully employed , even by 1990.One direct consequence o f the occurrence of a variety of coals in a stunningly beautiful but complex geo logical setting such as the Rocky Mountains and their Foothills is that each project is unique. Coal is a low value per tonne product. To supply distant markets from geographically isolated deposit s necessitates expensive , dedicated , infrastructure . T o be profitable these operations must achieve eve ry advantage of the economy of scale.Each of the mi ne complexes commissioned in the 1970s experienced severe problems in the area o f co a l preparation . Most bought their way out , paying for major plant modifications by increasing the scale of their total operation . The current market recession may not allow new operations this route to profitability.The objective of this paper is to illustrate the economic impact of coal preparation problems on the profitability o f the total minesite operation and thus provide a sound basis for decision making process."

Jan 1, 1985

By R. F. Selden

The material in this paper is intended simply, to be an inquiry into some of the theoretical aspects of the occurrence of methane and carbon dioxide in coal, with a brief resume of the more recent literature. Several discussions on various phases of the subject have been published, a few of which (4, 20, 25, 88, 90)4/ have more or less extensive bibliographies of tie earlier literature. In large measure the pertinent literature deals with the unusual aspects of the subject, and in consequence it might appear that the normal aspects have not been given due consideration here. The latter information is largely a matter of practical field experience, and since that which is normal to one locality is often abnormal to another no sharp differentiation appears to be necessary or, in fact, possible. No attempt will be made to present a critical discussion of the relations between the presence of gases in coal and pertinent geologic features or mining practice. Although the presence of foreign gases in the ventilating air of many mines is not particularly noticeable, in many others the evolution of methane and perhaps small amounts of carbon dioxide (or sometimes the reverse - large amounts of carbon. dioxide with perhaps sore methane) is quite apparent.

Jan 1, 1934

By R. F. Selder

The material in this paper is intended simply to be an inquiry into some of the theoretical aspects of the occurrence of methane and carbon dioxide in coal, with a brief resume of the more recent literature. Several discussions of various phases of the subject have been published a few of which (4, 20, 25, 88, 90) have more or less extensive bibliographies of the earlier literature. In large measure the pertinent literature deals with the unusual aspects of the subject, and in consequence it might appear that the normal aspects have not been given due consideration here. The latter information is largely a matter of practical field experience, and since that which is normal to one locality is often abnormal to another no sharp differentiation appears to be necessary or, in fact, possible. No attempt will be made to present a critical discussion of the relations between the presence of gases in coal and pertinent geologic features or mining practice. Although the presence of foreign gases in the ventilating air of many mines is not particularly noticeable, in many others the evolution of methane and perhaps small amounts of carbon dioxide (or sometimes the reverse - large amounts of carbon dioxide with perhaps sore methane) is quite apparent. The presence of small quantities of carbon dioxide can be attributed to oxidation of the carbonaceous matter exposed to the air. In the few cases in which this explanation is not sufficient, obviously the carbon dioxide must escape as such from the coal and neighboring strata.

Jan 1, 1934

By Alice M. Chieruzzi

This Country Documentation Report presents the development of economic indices for the Philippines for the period from 1970 through 1981. The work was done through the Bureau of Mines, Minerals Availability Program, under Contract number J01225001. This contract calls for the development of twelve index time series describing factor input costs in the mining sector of 95 countries. The twelve index time series describe the costs of: 1) mining wages, 2) construction wages, 3) equipment and repair parts, 4) bits and related steel, 5) eimber and lumber, 6) fuel, 7) powder and balsting agents, 8) tires, 9) construction materials, 10) industrial materials, 11) transportation, and 12) electrical power. These indices combined with weight factors being developed by the personnel of the Minerals Availability Field Office (MAFO) of the Bureau of Mines in Denver, Colorado, will be used to perform instantaneous updates of all costs relating to the mining industry. The indices were developed primarily for use in the Bureau's Minerals Availability Program in assessing the worldwide availability of nonfuel minerals.

Jan 1, 1983

By J. L. Kearns

The importance of optimizing equipment replacement decisions becomes more critical each year due to the rising costs of buying new equipment versus maintaining old equipment. Replacing equipment when it is physically worn out, or replacing it too soon or too late relative to its Economic Life (when it is economically worn out), is very costly. After extensive literature review and research, Kennecott has developed its Equipment Replacement Guide (ERG) system which identifies, evaluates, and justifies the replacement of uneconomical equipment. The system considers such critical factors as inflation, decreasing work capability, increasing maintenance/repair and operating costs, taxes, time value of money, return on investment, salvage value, and investment tax credit. These factors are used in a system of equations which balance the costs of new equipment against the total operating costs of old equipment. The solution of the equations determines the Economic Life of equipment. Replacement of equipment at the determined Economic Life will earn the specified, required return on investment that is used in the calculation of the Economic Life.

Jan 1, 1979

By Frank Rausche

Introduction and Background Testing -Pile Preparation -Data Processing -Data Interpretation/Case Studies Case Studies - Existing Piles Stories from around the world

Jan 1, 2001

By D. Kuhlmann-Wilsdorf

A new theory of work hardening is developed which rests on only a few simple principles and is applicable to a wide variety of materials and dislocation structures. It explains, qualitatively, the general characteristics of the three-stage shear stress-shear strain curve of fcc metals, as well as the most important features connected with easy glide. The value of, the work-hardening coefficient in stage 11, is derived quantitatively, from first principles, and is shown to be insensitive to many changes in detailed dislocation behavior. The low rate at which energy is stored during mechanical working in stage 11, the dependence of slip line length on stress, and the so-called Cottrell-Stokes law are explained. Although the theory is primarily developed for fcc metals and alloys, it is largely applicable also to some other materiuls, and in particular apparently to poly crystalline simple steels in theh linear range of hardening. FOR pure fcc metals and alloys, after many different pretreatments and under a great variety of testing conditions, the well-known three-stage work-hardening curve is commonly observed. Moreover, the work-hardening coefficient in stage 11, 011, bears an almost constant relationship to G, the modulus of rigidity, such that K = G/Brr" = 300, within a factor of about 2 either way. The very fact that the three-stage curve and the value of K are so very persistent, can hardly be understood except on the assumption that some quite simple phenomena are responsible. In this light all available theories of work hardening must be judged unsatisfactory: Each of them is based on some quite specific dislocation model, while it is known that metals with similar values of K may have widely different dislocation structures, for example, dislocation tangles in the case of pure fcc metals, and piled-up groups of dislocations in a-brasstype alloys. Thus, while a particular theory might conceivably represent a special case with a reasonable degree of accuracy, it cannot possibly have illuminated the underlying principle. Another severe criticism applying to the presently most widely discussed theories is that they employ empirical or even quite unexplained parameters in order to arrive at a numerical value of K. This indicates that some vital aspect of the work-hardening process has remained unexplained. In the present paper, a new theory of work-hardening is developed which does not suffer from the above shortcomings. It is derived from first principles, and is founded on the realization that the underlying causes for the three-stage work-harden- ing curve and for the persistence of the numerical value of O,, must be few and simple. As a first step it is shown herein that the experimental oklservations on "easy glide" can be explained on the assumption that in this stage dislocations multiply, beginning in a number of restricted area:;, and from there penetrate into crystal regions still substantially free of glide dislocations until a quasi-uniform dislocation distribution has been established. During "easy glide", the resistance to the movement of the foremost dislocations, advancing into still largely a dislocation-free regions, is believed to control the flow stress. This resistance is determined by various factors, among them the reaction of the dislocations against bowing-out into loops, which is due to their line tension. Without such bowing-out no dislocation multiplication would occur, but the corresponding contribution to the flow stress stays practically constant all through stage I. According to the present theory, stage TI begins as soon as there are no more areas left into which newly formed dislocations have not yet penetrated, i.e., as soon :is a quasi-uniform dislocation density has been attaned. Regardless of how, in detail, the dislocations should happen to be arranged at the end of "easy glide", whether in pileups or tangles, on one glide system or on several, the stress necessary to overcome the line tension of the segments must now increase, because the dislocation density increiises while the average free dislocation length decreases. It is argued that all other contributions to the flow stress stay at about the same level as in stage I, and that the said increase in the stress necessary to bow out dislocation segments into loops is responsible for the major part of work hardening in stage 11. Stage TII of the stress-strain curve is explained by largely follouing the ideas of Seeger and his co-workers; however, it is pointed out that the start of stage m may on occasion indicate the onset of "conservative climb" instead of cross slip. Indirect evidence indicates that linear work hardening persists even under the profuse action of cross slip, but at a lower rate. Only when, in addition to cross slip, climb operates extensively, does the work-hardening rat,. drop sharply, ultimately down to zero. BRIEF SURVEY OF EXPERIMENTAL EVIDENCE The stress-strain curve of crystals of many different substances are qualitatively similar. No significant permanent plastic deformation takes place below the so-called "critical resolved shear stress". As the applied stress is raised beyond this level. yielding occurs with little or no work hardening and

Jan 1, 1962

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

Jan 1, 1911

By D W. Nisbet

Today Hudson Bay Mining and SmeltingÆs 777 Project is the largest mining construction project under way in Canada. The project comprises six components: construction of the new 777 zinc-copper mine; construction of the new Chisel North zinc mine that will truck ore out from 600 metres below surface; expansion of the Flin Flon ore concentrator; expansion of the zinc plant to increase throughput by 15 per cent; a spill gas project that will reduce fugitive gas emissions by some 90 per cent; and infrastructure improvements including construction of a new electrical substation. Total investment in The 777 Project is over $US 260 million. Seven years ago, the Flin Flon, Manitoba-based company was fighting for its very existence. How does a company go from down-for-the-count to robust contender in just seven years? Contributing reasons are many, but all have their root in a process HBMS calls æTransformationÆ. It is transformation that has taken HBMS, a very traditional company, through a very non-traditional turnaround (Figure 1).

Jan 1, 2000

By Q Fan

The steelmaking desulfurisation plays an important role in coal-based steelmaking route of blast furnace and BOF converter within the flow sheet of BF-deS-BOF. With the advent of H2-based ironmaking and steelmaking process, the transition flow sheet of DRI-Smelter-BOF has been assessed and developed by the steelmaking industry. What is the role of deS in H2-based route of DRI-smelter-BOF? This paper will present the influence of sulfur-containing iron ore on steelmaking desulfurisation and the leading role of EAF-smelter played in H2-based steelmaking route. The sulfur contents of iron ore vary considerably around the world and lower-grade iron ores with high sulfur are likely to be used for H2-based route, a considerable amount of sulfur that comes from DRI will report to the melt of EAF-smelter and the operating conditions of EAF-smelter also impact the sulfur content of the hot melt for steelmaking deS. The EAF-smelter of H2-based route is the focus of the steelmaking industry at moment, unfortunately, an industrial-scale EAF-smelter has been the missing link of the flow sheet of DRI-Smelter-deS-BOF, despite similar EAF-smelters being used for various applications of Fe-Ti and Fe-Ni processes. The latest progress is that several pilot-scale and industrial-scale EAF-smelters with reducing capability are planned for construction within next several years and low-grade Australia iron ores are certainly to be employed as basic feedstocks for H2-based route of DRI-Smelter-deS-BOF.

Sep 18, 2023

By Ramsey Hart

MiningWatch Canada is the only national independent civil society organization with an exclusive focus on mining in Canada and Canadian mining companies operations internationally. In 2005, MiningWatch Canada collaborated with other NGOs to develop the Framework for Responsible Mining: A Guide to Evolving Standards. The project was the result of a perceived need by NGOs and retailers, particularly from the jewellery sector, for a framework that would set out environmental, social, and governance standards for the minerals sector ?providing recommendations for retailers and others seeking to source or invest responsibly, as well as regulate and encourage responsible mining practices?. This paper is a reflection on the Framework that examines key areas of concern and notes where the industry norms and expectations of civil society have evolved. The paper focuses on developments in social issues related to the UN Guiding Principles on Business and Human Rights, new initiatives associated with financial transparency, the UN Declaration on the Rights of Indigenous Peoples. The environmental components of the Framework that are revisited are waste management, biodiversity, energy and climate change, environmental assessment, mine closure, mercury and seabed mining.

Aug 1, 2013

The 29th annual American Mining Hall of Fame Awards Banquet and Fundraiser sponsored by the Mining Foundation of the Southwest (MFSW) will be held at the JW Marriott Star Pass Resort, Tucson, AZ on Saturday, Dec. 3, 2011. Each year, one living inductee, two recipients of Medals of Merit, and up to five honorees from mining history are chosen by the MFSW for their outstanding contributions to the mining industry. Chilean Minister of Public Works and former Minister of Mining, Laurence Golborne Riveros will be the guest of honor, featured speaker and inductee into the American Mining Hall of Fame. Golborne Riveros was instrumental in managing the rescue of the 33 Chilean miners in October 2010 and in the coordination/management of the ?townsite? for family members, rescue support and the media. His engineering background and executive management skills made him ideally suited to assist in both a technical and managerial role in this emergency.

Jan 1, 2011