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By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By Edward A. Nowatzki

The purpose of this paper is to present an example of the application of a theoretically derived mathematical model for track-soil interaction to the evaluation of the mobility of large-scale mining equipment used in open pit operations. The model described by Karafiath and Nowatzki (1978) and presented in detail by Karafiath (1978) was used to predict the performance characteristics of four different bucket wheel excavators (BWEs) on rwo types of copper mill tailings at various moisture conditions. The BWEs considered In the analyses are two-and three-tracked continuous excavators. Most have boom-mounted rotating buckets and swinging side- or rear-discharge conveyors. The analyses were performed at the request of Dames and Moore for the Kennecott Corporation's proposed remining of selected tailings deposits at the McGill, Nevada, concentrator. The objectives of the analyses were to determine whether BWEs would have sufficient mobility In the tailings deposit to achieve satisfactory production rates, and TO compare the predicted performance of the various BWEs evaluated. Good qualitative agreement was obtained between the results of the theoretical analyses performed for the McGil1 operation and the actual performance of BWEs in two South African gold mine tailings impoundments.

Jan 1, 1980

By F. A. Edwards

The Macassa Division of Lac Minerals Ltd. is a high grade gold mine that has been operating in Kirkland Lake, Ontario for the past 51 years. It produces approximately 120,000 tonnes of ore per year, averaging approximately 18.7 grams per tonne (0.45 ounces per ton) of gold. Over the years, the ore body has been developed to a point where mining takes place below the 1,220 m (4,000 feet) elevation and 1,830 m elevation (6,000 feet) west of the original shaft. The mine is currently serviced by two surface and two winze shafts. (Figure 1). The ore body extends below the 1,930 m (6,400 feet) Level which is the bottom of the existing mining operation. An ambitious underground exploration program has substantially increased these reserves. Concurrent with the discovery of greater reserves, has been rapidly escalating mining costs, particularly labour which constituted 66% of the total cost in 1981. These costs continued to escalate as the major proportion of mining was carried out to the west, far away from the existing hoisting systems. This required a three lift hoisting system for men, materials and ore. In addition to the increased travel time and ore handling expense, increased humidity, temperature, ventilation and compressed air losses have added to the inefficiency of the operation. As a result, studies were initiated in 1980 to assess the future of the Macassa operation. The results of the studies indicated that a new deep shaft with a potential to hoist from 2,135 m (7,000 feet) or below was the most attractive option. Detailed design of the shaft and associated surface plant commenced in January, 1982 and the following milestone dates were achieved: 1980 - initial study of hoisting and haulage facilities; January, 1981 - ore reserves in excess of 1 million tonnes of ore at 18.7 g/tonne (0.45 oz/ton) confirmed; March, 1982 - preliminary study of Macassa No. 3 Shaft completed; April, 1982 - permanent hoisting plant purchased; June, 1982 - site clearing commenced; September, 1982 - shaft collared; May 1, 1983 - shaft sinking commenced; February 11, 1985 - shaft reached 1,600 m (1mile); December 1, 1985 - shaft scheduled for completion.

Jan 1, 1985

By G. H. Lewis

This work was completed in a 440 KW pilot-scale combustor in preparation for a 50,000 Kg/hr industrial steam boiler limestone injection test program. The main objectives of the work were to: (1) identify the variables which affect sulfur capture, (2) determine the maximum sulfur removal, and (3) determine the effect of limestone addition on furnace operability and heat transfer. The variables which were identified as being important in sulfur capture were: Ca/S molar ratio, flue gas temperature at the limestone injection location, and limestone particle residence time. The maximum sulfur dioxide removal was 72%. The addition of limestone increased the particle deposition rate in the combustor; however, all deposits were easily removed by an air lance.

Jan 1, 1985

By Charles A. Rhoades

The Bureau of Mines is conducting research on a dual leaching method that offers the potential for the economic recovery of the silver as well as the manganese contained in some of the domestic manganiferous silver deposits. The method is an initial leach of the manganese with aqueous SO2 followed by a neutralization rinse, and then by a second leach for the extraction of silver with cyanide solution. Refractory silver in these ores is either bound by the high-valence manganese, chemically resistent to cyanide leaching, or is rendered inaccessible to cyanide leach solution by the surrounding manganese mineralization. Less than 10 pct of the silver was extracted when -1 in +1/2 in (-2.5 cm + 1.3 cm) ore pieces were leached directly with cyanide. However, extractions of 25 to 82 pct for silver and 65 to 96 pct for manganese were attained in laboratory column leach tests using the dual method on the same size ore pieces from six domestic deposits.

Jan 1, 1984

"Foreword by Emily SarverAssistant professor, Mining and Minerals Engineering, Virginia Tech, Blacksburg, VAThe Mineral Processing Division hosted its fifth Student Poster Contest during the 2014 SME Annual Meeting and Exhibit in Salt Lake City, UT – and, by all accounts, it was a huge success! This year, the contest more than doubled in numbers of individual entries and schools represented. A total of 30 students participated, including 23 graduates and 7 undergraduates, representing 13 US and international institutions: Colorado School of Mines, Michigan Tech, Missouri University of Science and Technology, Montana Tech, New Mexico Tech, South Dakota School of Mines, University of Kentucky, University of Utah, Virginia Tech, West Virginia University, Autonomous University of Chihuahua (Mexico), UNAL Medellin (Colombia), University of British Columbia (Canada). In addition to constructing their posters, students submitted abstracts and gave short oral presentations highlighting their research. Based on tallied scores from all three components of the contest, the judging panel selected 1st, 2nd and 3rd place winners at the undergraduate and graduate levels, which were announced during the MPD Luncheon on February 26.In the undergraduate division, University of Utah’s Lucas Pich was awarded the 1st place prize for his poster “Solid-liquid mixing studies in lab-scale flotation tank using electrical resistance tomography.” His extended abstract is included in this issue of Minerals & Metallurgical Processing. Joshua Chidester, also of Utah, won 2nd place for his poster presenting “Evaluation of detectors for radiotracer RTD measurement by MCNP.” And Lucas Rojas-Mendoza, of UNAL Medellin, took 3rd place for his poster on “Preg-robbing in Colombian gold ores.”In the graduate division, 1st place went to Caelen Anderson, of the Colorado School of Mines, who also placed in this contest in 2012 and 2013! The 2nd and 3rd place prizes were awarded to Jacob McDonald and Joseph Halt, respectively, both of Michigan Tech. Extended abstracts describing the work of these up-and-coming researchers are also included in this issue.The 2014 Contest was chaired by Emily Sarver (Virginia Tech) and Lisa Schlink (Freeport-McMoran Copper and Gold, Inc.). Aaron Noble (West Virginia University), David Perkins (Derrick Corporation) and Derek Novotny (Eriez) graciously served on the judging panel this year.Special thanks are extended to all sponsors of the 2014 MPD Student Poster Contest, and to all student participants. Please watch for upcoming details on the 2015 Contest. We look forward to seeing you in Denver!"

Jan 1, 2015

By N. O. Lotter

The reliability of a set of flotation results is key to minimizing project risk, either at the commissioning of a concentrator or at the point of implementing an improvement to an existing concentrator operation. High-confidence flotation testing (HCFT) was developed for this purpose and is part of the list of technologies at various scales used by Xstrata Process Support (XPS) in addressing these projects. The methodology is based on two principles: one, to ensure that the ore sample is representative and has been well-blended and subsampled; two, to perform the flotation tests in sufficient numbers of replicates with appropriate quality controls, so as to improve the reproducibility of the test data. Across ten years of research on this methodology at Xstrata Process Support, Sudbury, several improvements to the HCFT method and complementary connections between sampling and quantitative mineralogy have been developed. Two case studies are reviewed. These show the capability of this system in both optimizing an existing concentrator operation and in serving a new mine scenario. Further work to improve the efficiency of this procedure has been identified. Key words: Flotation testing, Flotation

Jan 1, 2010

By Kenneth F. Wyman

The following report details the successful construction of Contract 2A of the Three Rivers Water Quality Management Program, Intrenchment Creek Combined Sewer Overflow Conveyance System, in DeKalb County for the City of Atlanta, Georgia. The contract required construction of approximately 2878 m (9443 ft) of tunnel bored to an initial diameter of 7.95 m (26 ft 1 in), with provisions to concrete line those portions designated by the engineer to a finished internal diameter of 6.91 m (22 ft 8 in). Flanking the tunnel are two shafts. The upstream shaft was excavated to a nominal diameter of 4.87 m (16 ft) to accommodate a finished internal diameter of 3.66 m (12 ft). This shaft required a transition boot fully concrete lined to final dimensions of 6.91 m (22 ft 8 in) wide, 13.72 m (45 ft) long, and varying in height from 6.91 m (22 ft 8 in) to 12.80 m (42 ft). Associated work necessary to complete the contractual obligations included installation of 22.86 m (75 ft) of cut-and-cover box culvert, 484 m (1589 ft) of open-cut sewer installation in sizes ranging from 0.30 m (12 in) to 1.68 m (5 ft 6 in), one river crossing, 137.46 m (451 ft) of monolithic concrete trapezoidal channel, and installation of 19125 cu m (25000 cu yd) of select fill material compacted and graded to finished contours. The downstream shaft was excavated to a minimum diameter of 12.04 m (39 ft 6 in) and concrete lined to a finished internal diameter of 10.67 m (35 ft). Requirements here included installation of a complete pumping station with all mechanical, electrical, and structural elements necessary for dewatering the tunnel through the controlled use of four 250 hp submersible pumps discharging into the facilities of the Intrenchment Creek Water Pollution Plant. The objective of this project was to collect combined storm runoff and sanitary flows currently coursing through Intrenchment Creek

Jan 1, 1985

By Gilles Recher, Jörg Riechers, Albert Lueghamer

"INTRODUCTIONIn view of a global trend towards urbanization, more and more trunk sewers and combined sewer overflow tunnels (CSO) with medium to large diameters and the corresponding link sewers are currently built and under design. Shielded tunnel boring machines using segmental lining as tunnel support represent an efficient solution for construction of new wastewater and supply tunnels. Especially in the field of sewers, the durability of concrete structures both exposed to any groundwater present on its exterior and to aggressive waste water as well as gases on its interior is a key requirement. Despite thorough research on segmental lining and mechanized tunneling machinery, conventional thermoplastic liners show comparatively minimal progress in terms of practical advancements. This is in contrast with the development of the latest segment embedded high density polyethylene (HDPE) system. Based on experiences achieved, this paper discusses the latest development of an integral protective lining system in respect of material characteristics and its adaptability to both project and customers’ demands. Reviewed performances, as the bondage behavior of the embedded HDPE system at axial stress loads due to acting thrust cylinders during ring build as well as the ability to drain pressurized water behind the embedded membrane, tested at full scale segments, are also presented. The paper is round off by presenting first details of sewer projects endeavoring to utilize this cutting-edge solution for an integral concrete protection, which will be commenced beginning of 2016.CASE HISTORIES ENCOURAGE ADVANCEMENTS Past experience has shown that unprotected concrete surfaces as well as chemical based linings such as coatings, sprayed linings and cured in-place-systems cannot reach the desired life times. Also the fact that in deep tunnel sewer system hardly maintenance is possible, a durable and maintenance free system is required which only can be reached by applying mechanical anchored HDPE (CPL)."

Jan 1, 2016

By Rafael C. Castro, Paul V. Savard, Kathleen M. Murtagh

Preliminary design is underway for the Massachusetts Water Resources Authority’s (MWRA) next major tunnel program, the Metropolitan Water Tunnel Program (MWTP). The MWTP is the latest part of MWRA’s ongoing efforts to achieve redundancy for its metropolitan water transmission system including its historic deep rock City Tunnel, City Tunnel Extension and Dorchester Tunnels. The MWTP comprises several deep rock tunnels that will be approximately 10-foot to 12-foot finished diameter totaling just over fourteen miles long and ten connections to existing large diameter surface piping and pumping stations. This paper will present an update on current engineering and permitting efforts, packaging schemes, and the schedule to complete the MWTP.

Jun 13, 2023

"Tell us how you got involved in mining?I was first exposed to mining at a young age, as a consequence of my dad and his passion for the industry and rock collecting. Even though he graduated with a degree in mining engineering from Washington State University, my dad spent most of his career working as a structural engineer for the Boeing Company. At the time, Boeing supported a range of employee activities and clubs, including one devoted to mineral prospecting, small-scale dredging and rock hounding. My dad was extremely active in the Prospectors Club, where as a family, we spent a good part of my youth tramping around the Pacific Northwest digging for mineral specimens and panning for gemstones and gold. On my mother’s side of the family, I had relatives that mined in Dawson City and Fairbanks, AK which left a family legacy of sorts. I loved the stories that my dad and a close buddy of his, who was a geologist, would tell about various operations and towns, as well as the wild times at the annual Northwest Mining Association (NWMA) meeting in Spokane, WA. My first recollection of ever being at a commercial operation was during a tour of the Bunker Hill Mine with my dad when I was 7 or 8 years old; this had to have been shortly before the May 1972 fire at Sunshine. That visit of the mine and processing facilities made a permanent impression on me. While I always knew there was something special about the Silver Valley, I began to understand why. To this day, I still get the same feeling when I visit historic mining districts like Leadville, Morenci, Virginia City, Butte, Silverton and Barkerville. During our summer excursions to Helena, MT to dig sapphires, we would usually make visits to Butte and watch mine operations inside the Berkley Pit and surface activities at the Kelly and Mountain Con. In high school, I did well in math and science and began entertaining thoughts of pursuing a degree in engineering. Above all, I wanted to go to a college in the West that had a good academic reputation, where I could also play football. As a 6-ft, 190-lb nose guard, my options for a Division I scholarship were pretty slim, and there weren’t that many technical schools in the Northwest that were Division II that offered athletic scholarships. As fate would have it, I was unexpectedly contacted by Marv Kay, a legendary coach at the Colorado School of Mines (CSM), and was recruited to play ball. Fortunately, I had a couple of high school friends who were already attending CSM, and I had just secured a summer internship with Asamera Minerals in Wenatchee, WA. It was as if all the stars had aligned, and, with the support of my parents, I made the decision to attend Mines. Despite the stress of getting through CSM during a period when the mining industry was in freefall, it was a great decision to attend Mines, and I’m thankful for all the opportunities, friendships, and faculty mentoring I received as a student"

Mar 1, 2019

By W. L. Chen

In the United States hydraulic cyclones have been used for thickening, classification and cleaning in coal preparation plants for many years. The cleaning cyclones presently in use are based on using a "heavy medium", such as a fine magnetite and water pulp. The latest addition to cleaning cyclones is the one which uses ?water only?, or simply called "Hydrocyclone". Just as was the heavy medium cyclone, the hydrocyclones were originated in the Netherlands (1, 2). Plants using hydrocyclones were built in Europe (3) and test plants were erected in Canada (4, 5, 6) and India (7). Roberts and Schaefer Company has built four plants using hydrocyclone circuits. One additional plant is in the process of construction.

Jan 1, 1965

By Ronald J. Roman

A mathematical model was developed for the grinding and flotation section of Union Carbide's Bishop mill and this model was used to indicate how variations in grind, retention time, and calcite and fluorite content effects the mill capacity, tungsten units produced, and the grade and recovery of the scheelite concentrate. A model such as this is a starting point in determining the economic optimum running condition for a mining and milling operation and an example of this is given.

Jan 1, 1969

By D. Men, R. Q. Honaker, J. C. Hower

"Maceral separation is one possible technique to expand coking coal resources, either by increasing the blending ratio of non- or slightly caking coal or rationally utilizing the coking coal according to the different behaviors of macerals in coking. The success of maceral enrichment for a given coal using flotation is dependent on the differences in flotation kinetic rate among macerals. This paper presents the flotation rates and zeta potentials of the vitrinite-rich and inertiniterich maceral concentrates obtained from six coal samples of different ranks – from high-volatile B bituminous coal with mean random vitrinite reflectance (Rrandom) of 0.64 percent to low-volatile bituminous coal with Rrandom of 1.73 percent – using a float-sink procedure. The flotation results show that vitrinite-rich concentrates can be produced in tap water using froth flotation only with frother for the high-volatile B and A bituminous coal samples, but there was no good performance for the high-volatile C bituminous and medium- to low-volatile bituminous coal samples. The zeta potential results show that froth flotation could probably separate the high-volatile C bituminous coal samples well by adjusting pH, but there was no good performance for the higher-rank coal samples. IntroductionMetallurgical coke is used in blast furnaces for steel production and is produced by the carbonization of coking coal. Because caking coals are rare and expensive, they are often blended with non- or slightly caking coals. Considering the tight supply-demand situation for coking coal in China, it is important and urgent to develop highly efficient technologies for rationally utilizing and expanding coking coal resources (Mochizuki et al., 2013)."

Jan 1, 2015

By Raúl Castro, René Gómez

In underground mining, rock fragment size is a key variable for productivity because it impacts equipment selection and mining structure design. This study characterizes granular material fragmentation during its flow to understand its characteristics and mechanisms. Tests were conducted using a laboratory setup to emulate various heights where material is drawn. The fragment-size distribution was measured before and after tests for clay, concrete fragments, and gravel. Results showed that fragmentation mainly occurs in minor sizes, with significant increases in fine material as travel distance increases.

Jan 10, 2022

By Milton E. Jennings

On May 11, 1977, the SAMARCO 20-inch, 396-kilometer (246-mile) Pipeline was placed in service. This system represents the latest thinking in slurry pipeline design and is one of the main contributors to the viability of the SAMARCO Project. This paper presents the background, description and latest information on the system's operation. Special attention is given to the handling limitations of the slurry and to the unique hardware requirements.

Jan 1, 1978

By A. D. S. Gillies

Loss of visibility due to the occurrence of atmospheric fogging in underground mine airways can lead to a reduction in travel times and loss of production efficiency, an increase in the frequency of vehicular and foot traffic accidents and difficulty in checking rock surfaces for instability and loose material. Where hot and humid surface air meets colder underground air, conditions for fog formation nay be present. Further, suspended particulate matter from diesel exhausts or stoping operations together with slow movement of air along passageways nay contribute to formation. The study describes an investigation being undertaken with the cooperation of Kennecott's Ozark Lead Company to identify causes of the problem.

Jan 1, 1982

By J. Iannicelli

Spray drying is the principal drying method used in the production of over six million tons annually of beneficiated kaolin in Georgia. Thirty-three dryers in the Georgia Kaolin belt comprise the highest concentration of large tonnage spray dryers in the world. The steady growth of spray drying in the U.S. kaolin industry is paced by advances in design and development of large spray dryers which have led to large scale new applications in mining and related industries.

Jan 1, 1982

By Kraig W. Grubaugh

Rapid growth in the rate of surface mining for coal has caused many states to increase the rigor and complexity of their surface mining codes. The promulgation of Federal surface mining standards may cause those states containing Federal land to amend their codes also. Presented is an up-to-date review of these codes with tabular summaries that divide the codes into operative functions. These summaries will be of use to new operators, multiple-state operators, and state officials. Suggestions are made for industrial efforts to present workable and acceptable amendments to these codes.

Jan 1, 1977

By T. R. Ellis

Many appraisers/valuers believe that the only valuation method available within the cost approach category for real property appraisal is the depreciated replacement cost method. Some valuation and financial reporting standards setters also believe the same. This paper introduces the minerals appraiser to a number of useful methods for mineral property appraisal that are based primarily on the principle of contribution to value, the predominant economic principle in the cost approach. Most of these cost approach methods discussed are primarily for use in valuation of exploration tracts and resource properties that have no defined reserves. However, the powerful rural cost method can be used to calculate the contribution of categories of resources, reserves and other property components to the value of a mineral property. This method can be applied to mineral properties at all stages of development, including producing properties. The author reasons that standards and regulations pertaining to real property valuation should be modified, and underlying principles should be expanded, so as not to inhibit appropriate application of these cost approach methods.

Jan 1, 2011