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By R. Bruce Sheibach

The Picher Mining District, located principally in north-eastern Oklahoma, was one of the world's largest lead-zinc mining areas during its 55 year life. The field covers an area of approximately 72 square miles (186 km.-); an estimated 1.6 x [103 yds3 of material (1.22 x 103m3)] worth in excess of one billion dollars, has been mined. Mining activities were typified by surface exploratory drilling identifying ore distribution and extension of underground workings to the lead and zinc deposits outlined. Exploration holes were either left unplugged or plugged at the surface with a section of a telephone pole. Low grade ore and waste rock were discarded in mined out portions of drifts. These waste piles containing pyrite and marquisette were left underground and oxidized during the many years of active mining. Upon cessation of mining activities in the mid-1960's, the drifts and shafts of the abandoned workings began to flood as the cone of depression filled in, leading to the dissolution of the oxidized sulfides and the formation of large volumes of acid mine water in the mined out openings. The resulting poor quality water, with high concentrations of cadmium, iron, lead and zinc, began discharging at the surface in 1979. Contamination of the underlying aquifer supplying local residents was first detected on a localized scale in 1980. The present surface water and ground water contamination have lead to the area being classified as one of the top ten hazardous waste sites in the U.S. by the EPA under the superfund program.

Jan 1, 1982

By G. J. J. Aleva, A. H. Hilversum

The northern spur of the Bakhuis Mountains contains bauxite deposits on a dissected planation level, a region formerly indicated as the Adampada-Kabalebo area. Iron-rich laterites are ubiquitous on all more or less flat and horizontal to moderately sloping interfluves and planation levels. The known aluminous laterites and bauxites are restricted to those laterites that have relatively leucocratic and silica-poor parent rocks. The whole area is underlain by high-metamorphic Precambrian. In the northern half of the Guiana Shield at least four Cainozoic planation levels can be distinguished. The bauxite and aluminous laterite deposits are related to the oldest, Early Tertiary level. These deposits, occupying the highest positions in the present day landscape, show the destructive influence of post-laterite weathering, erosion and denud- ation; they are erosion remnants and as such are of irregular thickness, grade and shape. Consequently, exact mineable tonnages can only be determined after intensive and detailed sampling and evaluation, taking into account the latest technical and economic parameters. The bauxite potential of the region is negatively influ- enced by the complicated uplift history of the Bakhuis horst, and positively by the presence of suitable parent rock and possibly more than one phase of bauxitization.

Jan 1, 1984

By V. Anthony Cammarota

MINERALS INFORMATION PROGRAM Mineral data collection by the Federal Government actually began in 1882 with an appropriation by Congress to the U.S. Geological Survey (USGS). Although the Bureau of Mines was instituted in 1910, it was not until 1924 that the collection, interpretation, and dissemination of worldwide information on production, consumption, and availability of minerals became the responsibility of the Bureau. The objective of the Bureau's minerals information program is to maintain and provide reliable, timely, and comprehensive data for analysis of national minerals problems. This program is implemented by a staff of specialists who cover about 100 mineral commodities and the mineral industries of 168 countries. Data are also provided on the minerals industry on the State and county level. The specialists analyze information to identify trends and problems, forecast future U.S. and world supply and demand for the nonfuel minerals, and relate trends and developments to their impact on the domestic minerals industry. Data Sources and Publications The primary sources of data concerning the domestic minerals industry are the companies that produce, use, and trade in these minerals. Approximately 60,000 survey forms are sent to industry, on a monthly, quarterly, semiannual, or annual basis, to obtain the data. Domestic trade data are provided by the Bureau of the Census, U.S. Department of Commerce. Information on mineral developments abroad is developed by Bureau specialists from mineral reports supplied by U.S. embassies worldwide, from primary source documents, from a review of the technical mining literature, and from onsite mine and plant visits in foreign countries. The information is disseminated through a number of Bureau publications: "Mineral Industry Surveys" provide aggregated data on a monthly. quarterly, or semiannual basis to give timely information on the most important mineral commodities. "Mineral Commodity Summaries," published each January, provides preliminary annual data on supply and demand and discusses significant events of the previous year. The final data are published later in the "Minerals Yearbook," which is the definitive historical record for mineral statistics. "Mineral Facts and Problems," an encyclopedic work issued every 5 years, covers industry structure, technology, supply-demand analysis. economic factors, reserves, and forecasts of U.S. and world demand for individual commodities. "Mineral Perspectives" and "Mineral Issues" cover important international mineral developments and significant issues of current U.S. policy as they relate to minerals. Discussions and analyses of mineral trends and developments also appear in other Bureau publications, such as "Minerals and Materials" and "Information Circulars." These publications provide the basis for analysis and policy determinations by the Bureau and by virtually every Federal agency concerned with minerals, defense issues, the national economy, and foreign relations. The data are also used by industry in planning capital investments in mines and processing plants, by financial analysts, by U.S. delegations in their work with international commodity groups, and by a host of other minerals related organizations. Data Bases The data bases used by the specialists for preparing publications or in response to a continuous stream of inquiries include both those that contain individual commodity data from respondents, and those that are summary data bases on production, trade, capacity, employment and a number of other minerals-related items, not all of which are derived from data reported to the Bureau of Mines. The data bases maintained on the mainframes are not accessible by non- Bureau users. A 10-year data base of supply- demand data, published each year as an update of tables that appear for each commodity in Mineral Facts and Problems, is available on a floppy

Jan 1, 1987

By M. Kehnemuyi

The U.S. Department of Energy is charged, by federal law, with the responsibility for developing and implementing programs for long- term storage and terminal disposal of high- level radioactive wastes from both commercial and defense nuclear operations. Approximately 288,000 cubic meters of defense high-level wastes are currently in storage at the government's Hanford Reservation in the State of Washington, the Savannah River Plant in South Carolina, and the Idaho Chemical Processing Plant in Idaho (U.S. Department of Energy, 1980a). High-level wastes from commercial nuclear power production are stored in water pools or basins at various power plant sites. At the end of 1980, approximately 7.460 metric tons of uranium, contained within 28,300 fuel assemblies was in storage at various reactor basins. Although the present inventory of defense wastes are many times larger in volume and in total level of radioactivity than the commercial wastes, in the future, the latter will constitute a substantial quantity of wastes that will have to be disposed of. The present electric generating capactiy of nuclear power plants in the United States is 56.5 Gigawatts-electric (GWe). The amount of spent fuel that would be discharged and accumulated by the year 2000 from these operating reactors would be 38,000 metric tons. With a projected growth of the nuclear industry to 180 GWe in the year 2000, the amount of spent fuel accumulated at the turn of the century could reach 89,000 metric tons of uranium or approximately 318,000 assemblies. In any case, whether one postulates a no growth pattern or one where nuclear power provides its share in the country's electric generating capacity in the next two decades, a means for safe and environmentally accept- able disposal of high-level nuclear wastes must be found. Storage of commercial wastes in water basins, either at reactor (AR) sites or at away from reactor (AFR) sites, and storage of reprocessed defense wastes in surface or near surface tanks is a temporary solution and is not an alternative for permanent disposal.

Jan 1, 1981

By Morley H. Mathewson

The unprecedented demand for capital investment in the mining industry today has intensified management's interest in every known technique which will help to reduce operating costs and increase production. One proven approach leading to the accomplishment of this objective is well known in the mining industry and is gaining added prestige, particularly where keen competitive conditions exist. This approach is in the area of incentives applied to mining productivity. An investigation of many incentive plans now in use throughout the mining industry revealed a predominant number of conventional type plans, Most of these plans are designed to reward the hourly-paid employee on the basis of percent over and above a standard hourly or daily ton rate, By contrast, this search failed to divulge any incentive plan solely and independently developed for production management employees. This does not mean that such plans in the mining industry are nonexistnet, but it does indicate that production management incentive systems are scarce or are being kept under wraps.

Jan 1, 1960

By D. Hodouin

Abstract. Dynamic experiments were performed in a continuous open-circuit 40x40 cm ball mill using a pseudo-random binary sequence of the feed rate and measuring the variations of the discharge particle-size distribution. The impulse response is calculated by a cross-correlation technique. Then a model involving a discrete transfer function and a time-series stochastic equation is calibrated using maximum likelihood methods. Based on this empirical model. a minimum variance controller with constrained input is designed and its performances are compared. by simulation, to the performances of a conventional PID regulator.

Jan 1, 1987

By V. Králová

The TESCAN Integrated Mineral Analyzer (TIMA), an automated mineralogy system, enables fast and quantitative mineral analyses of rocks, ores, concentrates, tailings, leach residues or smelter products. It combines BSE and EDX analysis for identification and measurement of mineral concentrations, particle size distribution, and liberation/locking parameters. In addition, it can provide bright particle searches for PGM, gold-silver ores, and/or REE. With the newly developed Automated Loading System (AutoLoader), the TIMA has become the world?s first automated mineral analyzer which permits robust, continuous and unattended sample loading. With the AutoLoader (robotics) system, the TIMA has emerged as a powerful plant support instrument. It increases the sample throughput, minimizes manual labor and enables 24/7 operations. As such, it can be used in daily, continuous mineralogy for mine geology/ore control, concentrators, leach operations, and smelter support. It will also increase the capabilities of technical service centers for mining companies, commercial laboratories, large drilling programs or pilot test campaigns. In combination with a highly automated sample preparation lab (sizing, potting and polishing), TIMA technology can establish high-throughput and fast-turnaround automated mineralogy lab modules for mine-site production support.

Feb 23, 2014

By S. S. Peng

Since the introduction of shield supports in 1975, safety and production in U.S. longwall faces have improved considerably. Many faces had a daily production of up to 8,000-10,000 tons and productivity reached 600 tons per man-shift. But a longwall face requires expensive equipment which slows down the growth rate of the percentage of longwall production. Among the equipment cost the shield support accounts for 50-60%, a very large proportion. Therefore, it will have a large impact on the growth of longwall mining in the U.S. to reduce the support cost (1).

Jan 1, 1988

By James R. Strong

Before getting into the subject of packaging and materials management, please permit me to introduce you to MICRO SWITCH. MICRO SWITCH, A Division of Honeywell Inc. is located in Freeport, Illinois. We manufacture and market thousands of types of precision snap-action electrical switches. Most of them are used as components by other manufacturers in industrial and commercial products. MICRO SWITCH also offers a broad line of industrial control devices including heavy- duty limit switches, relays, manual controls and proximity switches. Other product lines are solid state keyboards for the computer industry and high-performance d.c. motors used in computer related equipment. So you can see that we are a component manufacturer. With the exception of the keyboards, every one of our products would "fit comfortably into a breadbox." Some are so tiny that one could easily fit several thousand into a man's hat. In my position as supervisor-packaging. package design, and materials handling engineering, I am actively involved in package design projects, parts handling design projects, and numerous activities involving departmental layouts, storage facilities, and material handling equipment. Two package design technicians, a materials handling engineer, and a materials handling technician make up the technical staff.

Jan 1, 1973

By Martino Scialpi, Miriam Piemontese, Claudio Cimiotti, Matt Kendall, Nicholas Karlin, Roberto Schuerch

The Los Angeles, California JWPCP effluent outfall tunnel will transport secondary-treated effluent from the Joint Water Pollution Control Plant in Carson to the White Point Manifold. Upon completion, through ground conditions ranging from soils to hard rock, the tunnel will be approx. 7 miles (11 km) long with a finished internal diameter of 18-ft (5.5 m). This paper will present the Tunneling Condition Assessment Report (TCAR) and Tunnel Operation Plan (TOP) developed prior to construction, as well as the actual TBM performances achieved along the northern portion of the alignment in soft ground, shallow cover, and beneath a densely urbanized area.

Jun 23, 2024

By H. Maleki

Interwest Mining Company has been collecting geologic data within the last decade in preparation for underground mining of extensive coal reserves in its Bridger Coal property in southwestern Wyoming. During a preliminary data collection program in 2000, Interwest Mining completed geologic investigations, including surface mapping, drilling, aerial photography, rock testing, and limited groundwater investigations. Core from 12 exploration boreholes in the area of interest was tested to determine the mechanical properties of the coal seam and the immediate roof and floor for evaluation of the feasibility of underground mining. Geologic investigations identified the presence of one 7-to-17-ft-thick coal seam throughout the reserve under 1400 ft of cover. During a geotechnical feasibility study in 2002, the authors reviewed available data while completing comparative analyses identifying critical deficiencies in these data. The study projected moderate-to-difficult mining conditions, considering the weak nature of near-seam strata and depth of cover, and thus recommended limiting the longwall reserves to an overburden depth of less than 900 ft. These shallow remaining reserves were located at depths within regional mining experience to justify longwall mining methods. Based on a critical examination of available data, Bridger proceeded with more detailed data collection to improve understanding of the depositional and structural setting of the reserve, hydrogeologic conditions, overburden strength, and premining stress conditions. Additional data was collected during 2003 and 2004 field programs. Since 2003, Bridger has had the opportunity to observe ground behavior in a series of up to 1200-1600-ft- long rectangular openings created during highwall mining. These narrow unsupported openings remained stable in the short term in large areas but the overburden subsided locally in the long-term depending on geologic and panel layout designs. These localized subsidence events allowed an examination of in-situ coal strength based on back analyses of stress. The unextracted highwall areas near Ramp 17 provided an ideal location to access the underground reserves using a 6-entry set of mains. The existing north-south oriented longwall layout for the Bridger Coal was selected by Bridger to maximize resource recovery from the D41 reserves while considering operational and geotechnical constraints. At 45-degrees deviation from preexisting joints and mild horizontal stress field, this orientation was considered beneficial for overall stability while using both sets of joints for facilitating the caving process. The present layout utilizes pillars on 80- to 90- by 200-ft centers, 17-ft entry spans and 750-ft wide longwall panels (Figure 1). Gate pillars are on wide spacings and are intended to act as abutment-abutment pillars to limit strata deformation over the gateroads during longwall mining.

Jan 1, 2008

By R. A. Pimentel

Complying with reduced dust standards (i.e., less than 2.0 mg/m3) due to quartz levels that exceed 5 percent is presently a critical problem for many continuous mining sections. Results are presented of research which was performed to determine the factors causing high levels of respirable quartz dust and to identify the major contributors to operator exposure. It was found that the significant sources of quartz dust are the drilling of the roof and the mining of the roof, floor and rock bands. Both the miner and the bolter may be on a reduced standard, but compliance is easiest to achieve on the bolter for which improvements in maintenance and operator practices are usually sufficient. At the miner, the problem is more elusive. Research continues to identify operating and mining practices that contribute to the exposure..

Jan 1, 1985

By M. G. Rylatt

The Ekati process plant flowsheet features the common steps in diamond recovery plant design. Primary treatment and concentration is by crushing, scrubbing, high-pressure grinding rolls and heavy medium separation (Fig. 1). Secondary concentration is by an attrition mill; wet, high-intensity magnetic separation and X-ray sorting (Fig. 2). All of these are performed on site, although final sorting of the diamonds into commercial categories will be carried out elsewhere. The initial throughput rate is 9 kt/d (9,900 stpd), increasing to 18 kt/d (20,000 stpd) during the first 10 years of operation. A range of ore characteristics will be encountered that will effect the plant operating conditions during the life of the mine. The adopted design envelope is based on these expected variations. The design is based on the use of large-scale equipment, incorporating the latest and most efficient technology available. Where proven technology exists, no attempt was made to reinvent the wheel. However, where recently developed technology offers a significant advantage, this has been incorporated into the design. The Ekati run-of-mine (ROM) and coarse ore handling facilities are unheated, to take advantage of the better handling characteristics of the frozen ore in winter. The stockpile reclaim features an MMD mineral sizer (a toothed roll crusher) to minimize the problems of handling thawed, sticky kimberlite in the summer and break frozen lumps in the winter. All processing downstream from primary crushing and the coarse ore stockpile is carried out in a temperature-controlled environment in the main process plant building. Personnel involvement in the process is mini¬mized by using a Modicon Quantum series PLC with human-machine-interfaces (HMI) running Wonder-ware software on dedicated personal computers.

Jan 1, 1999

By Sue Sawyer

In October, November and December, teachers at the National Science Teachers' Association (NSTA) area conventions were lured to visit the Minerals Education Coalition (MEC) booth by the promise of free rocks, video tapes, and literature on earth science topics. Teachers were content to stand in lines that at times took as much as an hour and a half to progress through the exhibit. Adding to their interest was the opportunity to converse with people from the minerals industry who were staffing the booth. The MEC was formed by a group of associations and companies in the minerals industry. They felt the need to educate the public about the current-day minerals industry and how it affects everyone's life. The American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc. (AIME) underwrote the major expenses of exhibit space and exhibitor services at all three conventions in 1997. SME members have been active in staffing and chairing the NSTA exhibit booth. But they represented only about one-third of the volunteers for the booth. Additional volunteers were drawn from local minerals companies, associations, interested teachers and other support groups. (See donors list on page 64.) In 1997, the conventions were held in Pittsburgh, PA, Denver, CO and Nashville, TN. The local SME GEM Committees chaired Pittsburgh and Denver and The Rogers Group Inc. supplied the chairperson in Nashville. Each exhibit relies on a local committee to plan and run the booth. Support is available from the GEM Projects Coordinator at SME headquarters. Usually the chair of the committee is drawn from the local SME membership. It is easy to see why the MEC booth is so popular. Free literature, videos, posters, workshop packets and rock specimens were handed out to about 5,500 science teachers at the three sites. Feedback from the attending teachers was overwhelmingly positive: "Who do we thank for these great materials?" Some of those great materials included Caterpillar's outstanding donation of Common Ground videos and teacher packets for Pittsburgh, Denver and Nashville for every teacher expected to attend. Placer Dome sent enough What's a Mine coloring books and It Comes from a Mine activity books for teachers at all three sites. Newmont supplied all teachers with an excellent poster describing gold processing. Women in Mining Education Foundation had plenty of its classroom activity handouts. The American Coal Foundation provided a list of its educational materials that are given out free to teachers who request them on school letterhead. The National Mining Association had its Facts About Minerals and Facts About Coal available. US Borax provided the funding to reproduce the NMA black and white posters that were published as inserts in Mining Voice magazine. In addition, each site had other materials chosen by the local committees to round out their selections. At each exhibit site, committees raise between $8,000 and $12,000 in cash donations from industry to support the high overhead of producing this exhibit. Usually, there are between 12 and 18 different rock specimens representing a range of mineral ores from aggregates to the metal ores. The committee arranged to have these donated (along with the freight charges to ship them to the site). Literature is also donated by the industry. It covers a diverse spectrum from basic information on rocks and minerals to posters, flow charts, videos and coloring books. Other donations include storage space before the event, haulage of items to the hall and door prizes. These exhibits could not have been staged without the network of SME Local Sections and the able chairs and committees at each site. At this time, credit should be given to their extensive donation of time and effort.

Jan 1, 1998

By R. V. Ramani

In this paper, the application of the concepts of reliability engineering to the evaluation of longwall system performance is illustrated with data from an operating longwall face. A number of cases are analyzed to highlight the impacts of longwall equipment, geological conditions and outby haulage on systems reliability and availability.

Jan 1, 1988

By W. M. Lewis

Product losses to tailings ponds have long been a source of frustration for the mining and utilities industries. The utilization -of the Lewis Econosizer to recover lost products has proven to be very cost effective through reduced acreage requirements, cleaning costs and increased production. The unit is successfully operating in coal, aggregates, industrial minerals, clay, fly ash, heavy minerals and many other ores. Utilizing an upward flow of slurry in a free settling environment, particles stratify within the unit according to settling velocities and are removed as sized products. Ultra fines or clarified water is removed off the top of the unit. The Econosizer requires no power and only minimal maintenance.

Jan 1, 1998

By A. Bhagwat, S. Tadolini

"Steel members of the ground support systems in underground mines are routinely exposed to corrosive environment that may range from acidic to alkaline. Corrosion of steel bolts leads to metal loss and thereby, reduction in strength and useful life. Protective coatings are commonly applied to the steel bolts to combat corrosion. However, coatings are expensive and often cumbersome in practical applications. Instead, Minova has developed an innovative technology based on sacrificial anodes. The anodes were designed from non-ferritic alloys that are inferior to steel on the Galvanic Series. This paper will present data from field testing to show significant benefit of the technology. Potential applications in current products will be discussed. INTRODUCTION Corrosion is a physical alteration of a steel material from electrochemical reaction with its environment that often results in reduction of the mechanical and physical properties of that material. Mine roof bolts, the subject of this investigation, are particularly susceptible to corrosion as they can be exposed in their working environment to ground water and air with high humidity. As other researchers have determined, corrosion increases markedly in sulfide ore bodies due to acid runoff. There are several types of corrosion that a rock bolt is likely to undergo when used for ground reinforcement in underground mines (Aziz et al., 2013). Of all the types of corrosion, pitting is particularly dangerous as it can remove capacity for the bolt to deform with subsequent strata movements. Sudden failure of a bolt is likely to occur when severe pitting corrosion is experienced. The type and nature of corrosion depend on the nature of the ground condition and bolt encapsulation. Generally, the type of corrosion and severity of the corrosion varies along the axis of bolt. Almost all of the mine roof bolts used in mines, with the exception of fiber reinforced polymers, are made from steel. The corrosion of iron is an electrochemical phenomenon with the overall equation:"

Jan 1, 2018

By Milan Lipensky

This paper discusses the longwalling practices used at the San. Francisco Mine of Compania Minera Autlan in Mexico, in. the mining of a sedimentary, manganese deposit. Bethlehem. Steel Company is a part owner of this property. The San. Francisco Mine is located approximately 580 miles west of Mexico City, on the outskirts of the town of Autlan, in the State of Jalisco. The ore is shipped from the port of Manzanillo 120 miles southwest of Autlan. The mining method is a variation of the longwall retreat system, using friction. props that, until recently, had been used only in coal mining operations of Europe and the United States. However, due to the structure of the ore body and the modified longwall system that is practiced, there exists some unusual variations, such as: .1) friction props set by a mechanical two-step lifting device, 2) drilling and blasting, against the friction props, 3) a highly fractured and undulating, volcanic tuff roof; 4) displacement faults-up to 5 meters, and 5) a relatively stable, irregular floor.

Jan 1, 1964

By R. M. Hernandez

The Bureau of Land Management (BLM) constructed four passive biochemical reactor systems (BCRs) to treat mining influenced water (MIW) in the Bunker Hill Superfund area near Coeur D?Alene, Idaho between 2002 and 2003. Initially, the BCRs operated very effectively. However, in the past couple of years, the zinc removal effectiveness of the four BLM BCRs has declined [1]. The central objective of this study was to characterize the microbial communities and substrate present within the BLM BCRs and to use these factors to propose strategies to promote sustained sulfate reduction levels. Microbial communities were characterized by quantifying total bacteria and sulfate reducing species. Substrate was characterized by quantifying the percent organic, acid soluble organic, acid insoluble organic, and bioavailable material within the BCR. The results suggest the depletion of bioavailable organic substrates is the primary cause of the decline in zinc removal and not the microbial community structure. The ability to assess the amount of bioavailable organic substrate and microbial community is important to the understanding of the sulfate reducing capacity of the BLM BCRs and developing strategies to facilitate performance enhancement of the current BLM BCRs. The characterization of organic substrate and microbial community structure are also important to improving design of future passive treatment systems for mining influenced waters.

Jan 1, 2010

By S. Koro

The current economic climate of low commodity prices and increasing costs has put a lot of pressure on mining companies to ensure their operations will survive through the current economic downturn. While history tells us that the cycle will turn around and prices will go back up again, how many mining companies will be left to take advantage of the next upturn? On average in Australia, the maintenance of mining equipment accounts for up to 50% of operating costs; which equates to nearly $15bn per year. In addition to trying to boost productivity, mining companies are also putting a lot of pressure on reducing costs; all with the intention of maintaining/increasing profit margins and thereby keeping shareholders ?happy?. The whole premise of our economy is based on ?growth? and ?profits?. Movements in the market place force mine owners to ?react? to short term fluctuations. And if that movement is downward; operations people at the sites are forced to start reducing costs. Is this cost reduction done in a logical, systematic way where all risks (short-, medium- and long term) are considered? Invariably, the answer is no! Short term ?fixes? are normally implemented with little, or no, regard for medium- and long-term impact. And the reason for this is that management is not fully focused on the long term; focus is mainly on survival. Decision making is driven by shareholder sentiment and history tells us that this is largely short-term. So given these paramteres to work within, what role can ?Asset Management? play in assisting management to meet shareholder and market requirements whilst still maintaining long-term viability of their operations (to the long-term benefit of shareholders dare I say). As maintenance costs account for nearly half the operating costs of mining companies; the ?smart? management of assets is not only crucial; it is essential for survival in today?s economic climate. What is asset management? Asset Management, according to the UK-based Institute of Asset Management (IAM) is ?the systematic and coordinated activities and practices through which an organization optimally and sustainably manages its assets and asset systems, their associated performance, risks and expenditures over their life cycles for the purpose of achieving its organizational strategic plan.? How important is asset management in today?s mining companies? IAM goes on to say: ?This definition of asset management represents a significantly greater scope than just the maintenance or care of physical assets, and is closer to the central purpose of an organization. Good asset management considers and optimizes the conflicting priorities of asset utilization and asset care, of short-term performance opportunities and long-term sustainability, and between capital investments and subsequent operating costs, risks and performance. ?Life cycle? asset management is also more than simply the consideration of capital costs and operating costs over pre-determined asset ?life? assumptions. Truly optimized, whole life asset management includes risk exposures and performance attributes, and considers the asset?s economic life as the result of an optimization process (depending upon the design, utilization, maintenance, obsolescence and other factors).?

Feb 23, 2014