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By G. Pierson

Explanations for commodity price levels (or movements) commonly focus on the fundamentals of supply and demand otherwise they are simply assigned to speculative activity. Comparisons of metal-price histories to monetary and other economic data support the argument that the supply of and demand for money are no less important in the determination of price than are the supply and demand of the commodity itself. That these relationships should exist is evident in the price identity and they are consistent with monetary theory. The patterns developed have limited usefulness as predictors, but their recognition is essential for the construction of price scenarios for planning purposes.

Jan 1, 1998

By G. Pierson

Explanations for commodity price levels (or movements) commonly focus on the fundamentals of supply and demand, otherwise they are simply assigned to speculative activity. Comparisons of metal-price histories to monetary and other economic data support the argument that the supply of and demand for money are no less important in the determination of price than are the supply and demand of the commodity itself. That these relationships should exist is evident in the price identity and they are consistent with monetary theory. The patterns developed have limited usefulness as predictors, but their recognition is essential for the construction of price scenarios for planning purposes.

Jan 1, 1997

By G. Pierson

Explanations of commodity price levels, or movements, commonly focus on the supply and demand fundamentals of the particular commodity, or else are assigned to speculative activity. Comparisons of metal price histories with monetary and other economic data support the argument that the supply of and demand for money are no less important in price determination than are the supply and demand of the commodity itself. That these relationships should exist is evident in the price identity and are consistent with monetary theory. The patterns developed have limited usefulness as predictors, but their recognition is essential for the construction of price scenarios for planning purposes.

Jan 1, 1996

By R. L. Virta

Common clay is a natural, fine-grained material composed of hydrous aluminum silicates. Shale is a laminated sedimentary rock formed by the consolidation of clay, mud and (or) silt. Government and legislative programs The U.S. Environmental Protection Agency (EPA) invited industry to nominate representatives to a review panel that will help the EPA develop rules to regulate air toxics from the production of brick and structural clay products. The EPA was required to establish a review panel because these regulations will significantly affect small businesses. The regulation of air toxics falls under the Clean Air Act.

Jan 1, 2010

By S. T. Krukowski

Traditionally the lime industry is governed by market, location, and transportation. These factors also may act as obstacles to global market access. Lime manufacture responds to market opportunities by first focusing on location. Lime markets are diverse and widespread, and ubiquitous occurrences of limestone make development of a widespread industry possible. Lime’s low to moderate unit value restricts transporting it long distances. Other factors (including lime reactivity, dedicated container use and other liabilities) limit shipping lime far. In the past many small to medium size companies made lime for local use. Today the global aspect of the industry is ownership by few large companies producing lime for local consumption.

Jan 1, 2003

By Victor F. Hollister

Introduction Trends of successful discovery technology and psychology emerge from a thoughtful study of various companies' exploration programs. These subjective patterns can be generalized into groups of factors for discussion. Here, for convenience, factors that influence exploration success are separated into management and geologic concerns. Most successful discoveries have a demonstrably favorable management combined with a technically competent geologic input. Both are required. But the management input is decisive. Management factors include the correct definition of management's role; cost of exploration; time needed for exploration; commodity selection; and the fostering of autonomy, creativity, and confidence in the geology department. Geologic factors include imaginative technical competence (field as well as academic), correct development and use of empirical exploration or prospecting models, and dedication. Success comes to those entities that are properly managed and have technological competence. A management team that directs a company's business has been compared to a dynasty. The dynasty lays out policy and follows up with appropriate action. In that management's power is pervasive, the term is appropriate. Management's role is, however, more important. Many examples can be cited where the geologic input was impeccable. But management somehow snatched defeat from the jaws of victory, and the exploration success was turned to a third party's profit. Management Factors Management's role can be broadly generalized to four parts. These are to identify the commodities it seeks, define its part in the exploration process, develop a functioning exploration department, and have the desire to succeed. It must have confidence in its geologists and delegate to them the authority and responsibility they need to operate successfully. Head office management cannot do the thinking for a field staff thousands of kilometers away. There is no substitute for confidence and delegation of authority. Successes came to those who had the freedom to act. Motivation is a management requisite. Management's role is to prevent destructive, internecine political battles within the corporate structure. Most large US mining corporations have well known histories of political strife that have damaged their exploration efforts. Management's role must, above all, include the desire to succeed. There are cases where management has been confronted with a commercial exploration success, but their reaction is to request additional study or exploration. Perhaps the problem of bringing a commercial find into production is beyond their capabilities. But a bona fide discovery sent back for additional work commonly is lost due to that management. The cost of exploration is a factor that management must accept. A variety of studies made during the past 40 years shows the cost per discovery to be $25 million, $38 million, $200 million, or even $290 million. These figures are derived by dividing the total exploration expenditure by the number of discoveries. However, successful management dynasties have a much lower cost per discovery during their management regime. Asarco, from 1948 through 1963, had one of the lowest cost discovery rates in the world. Duval Corp., from 1948 through 1968, had comparably low discovery costs. Placer Development, from 1955, was equally successful. Western Mining in Australia has had one of the longest lived dynasties associated with exploration success. Time is vital in exploration success. Most successful exploration case histories stress sufficient time in project exploration so that the target is well tested. A large target cannot always be adequately evaluated by a few holes (strat or concept testing). Serendipity helps in exploring large targets, but it best operates in a lengthy program. Numerous case histories include pleasant surprises. But these came mostly after the 10th hole. Commodity markets are important factors governing exploration success. Management's decision to explore for a specific commodity can doom its effort if that product suffers from severe oversupply. Unquestionably, progressive copper price increases from 1948 through 1968 helped convert marginal porphyry copper discoveries

Jan 8, 1985

By T. M. Campoy, J. R. Jones

When extending the life of an existing mine in Appalachia, it is common to acquire the adjacent reserves and extend the existing mine into it. The existing mine is often renovated to accommodate the new conditions. The existing mining system and the track and belt haulage systems may he modified while the new property is integrated into the old one. All of these changes create new constraints for the mine ventilation system (MVS) that require proper planning and control procedures. This paper presents a study that was carried out for the ventilation system of a newly expanded underground coal mine in the Appalachian region. The process of correcting the ventilation system of the existing mine is discussed. That is followed by a discussion of some of the stages of controlling the expanded system. Numerical data for these steps are also presented.

Jan 1, 1994

By A. M. Wala

It is common practice in Appalachia, when extending the life of an existing mine, to acquire the adjacent reserves and extend the existing mine into it. Also, often the existing mine is renovated to accommodate the new conditions. The existing mining system and the track and belt haulage systems may be modified while the new property is integrated into the old one. All of these changes create new constraints for the mine ventilation system (M.V.S.) that require proper planning and control procedures. The authors describe and present the study that was carried out for the ventilation system of a newly expanded underground coal mine located in the Appalachian coal region. Discussed first is the process of correcting the ventilation system of the existing mine. Then, some of the stages of controlling the expanded system are discussed. Finally, numerical data for these steps are presented.

Jan 1, 1992

By Pat C. Hautala, J. R. Hoskins

This is a new era for the minerals industry. Never before has there been more need for effective communication. So said Robert Anderson, chairman and chief executive officer of Hanna Mining Co. He was speaking to the American Mining Congress's Communication Workshop. The question is whether there is enough industry concern to meet the challenge. Anderson observed that increased workshop attendance, in continuing tough times, reflects the industry's concern for communication. But, why were students, faculty, engineers, supervisors, and managers not at the conference? Communication applies to every manager, Anderson said. But he was the only operating manager present. And only one company sent operating supervisors. The remaining conference participants were public relations personnel, generally with nonmining backgrounds. And the program dealt mostly with public relations issues. Role of Communication in the Minerals Industry. It is well known that the minerals industry faces economic, political, and social problems. Economic shifts and foreign competition have created an international minerals industry and an international marketplace. This, in turn, calls for worldwide communication. Other factors effecting communication are: • Governmental protectionism as well as regulatory reforms call for increased interaction with governing officials. • Changing social values have created environmental issues and anti-industry attitudes. This intensifies the need for improved public relations. • Traditional work values are shifting towards self-actualization and humanistic movements. The work force is better educated and more informed. Employees demand more satisfaction, equality, and job autonomy. • The mining industry's task of managing its human resources is complicated by layoffs, job uncertainties, and bleak outlooks concerning employee morale and motivation. Technology and Information for a New Era As noted, this is a new communications era, one propelled by technology and information. Technology has led to reduced demand for raw materials by developing substitutes. Copper demand, for example, will never fully recover. Copper cables are replaced by fiberoptics; copper transmission lines, with aluminum. Technology has shifted the US from traditional to high tech and service industries. The speed, frequency, and scope of information transmission have greatly increased. But the most significant characteristic of this information is not the pace of advancing technology. It is the dramatic increase in the importance and frequency of our personal transactions. Knowledge has replaced raw materials and capital as the strategic resource. Information has replaced energy as the transforming resource. And the game against nature has become an interpersonal game (D. Bell, Post-industrial society, Physics Today, '76). In Megatrends, John Naisbitt says that information will soon double every 20 months. So, professionals will become "information workers." And communication will be the life channel of the information age. Thomas Wolfe said you can't go home again. Hanna Anderson said we are, indeed, facing a new day. It will never again be "business as usual." We must move into the information age with the rest of society. We cannot trust that the world will continue to rely on our products. Nor can we place the responsibility and control for problems and solutions outside the minerals industry. Improved communication is not a panacea. But, Anderson said, it is critical to the minerals industry. What is Communication? The word communication is overused. It is applied to every aspect of our lives. Satirist Tom Lehrer got sick of hearing about the need to communicate. He said, "It seems to me that if someone is having all that trouble communicating, the very least he can do is shut up!" Obviously, we cannot follow that advice (though we might wish that some others would do so). Communication is always going on. It is inevitable. Yet we have many misconceptions about com-

Jan 1, 1985

By Robert L. Bates

The field of industrial minerals and rocks includes such a wide diversity of materials and occurrences that communication is essential to foster a sense of "belonging? among geologists and other professionals. Besides, exchange of ideas and information is essential in meeting the needs of an ever-expanding world economy. A survey of the field shows to what an extent such communication--especially in the form of conferences and their proceedings--has increased during the past 25 years.

Jan 1, 1995

By Alan J. Solomon

The function of advertising is communication. Viewing the advertisements of mineral suppliers exposes the reader to a broad spectrum of purposes: announcements of new products, availability and supply, departmental services, company image, etc. It is the advertiser's hope that the message being conveyed is the same message being perceived by the viewer. To maximize this probability, the advertiser at least must carefully construct precise copy, identify the target audience and select the appropriate advertising medium. A truly successful and efficient ad, however, also must accurately reflect a product's life cycle, i.e., the rise and fall in demand for a product. Buggy whips and radio tubes are classic examples of items formerly in high demand. Industrial minerals are similarly affected by occurrences of product life cycles.

Jan 1, 1983

By J. R. Mackie

Reserve Mining Company, the first large-scale taconite pellet producer in the United States, mines it's crude ore at the Peter Mitchell Mire located on the eastern end of the Mesabi Iron Range near Babbitt, MN. The ore is processed at Reserve's beneficiation plant on the north shore of lake Superior at Silver Bay, M. The mine and plant are linked by a 47 mile, double track, railroad which is owned and operated by Reserve. (see Fig 1). At rated capacity, the mine can produce 33 million It/yr of crude ore, 15 million It/yr of waste rock and 1.0 - 1.4 million yd3/yr of glacial till stripping. Haulage of all mined material is accomplished using trucks. Ore is transported by tractor-trailer side dump units which have capacitys ranging from 83 to 110 long tons. Waste rock and glacial till is transported in end dump units of 50 to 120 LT capacity. Loading is accomplished by 11/13 yd3 power shovels and 7/10 yd3 front-end loaders.

Jan 1, 1985

By A. Ardiant, C. E. F. Mumbunan, I. Irawan

As a part of mine operation’s success key, Community Development nowadays seems to be a rule of thumb. Not only is for a short term need of the company during their operation but also for the national public opinion on the presence of the mining industry to a certain region. Nanggung region which is only a 2-hour drive from Jakarta, brings the challenges to Antam’s gold mine business in the areas such as illegal miner presence, easy access to the mine area as it is very close to the community, and national political sensitivity considering its proximity to Jakarta. The company allocates about 3%of its total operational cost annually for Community Development pro-gram. The program is derived through SWOT analysis and broad involvement of all community components to assure that the allocated fund is addressed to the right place. In the year of 2002, the company has successfully established a conducive-relation with the community.

Jan 1, 2004

By Sarah Wilson, John Kaplin

Plans are underway to extend commuter rail service underground into downtown San Francisco. The Salesforce Transit Center (STC) was completed in 2018 and will serve as a new transit hub, including a commuter rail station after two future connecting tunnel segments are completed. The northern segment, known as the Caltrain Downtown Extension (DTX), which will extend the rail line from its current terminus at 4th and King Streets to the STC, is currently in Preliminary Engineering. The southern segment, the subject of this paper, is a 1.6-mile tunnel known as the Pennsylvania Avenue Extension (PAX), which is currently in the pre-environmental planning stage, with alternative alignments under evaluation including single bore versus twin bore options. This paper discusses project challenges, including highly variable tunneling conditions in soil and rock, a congested urban project site with limited space for construction staging, alignment crossings of large existing buried infrastructure, and complicated interfaces with future and existing rail operations.

Dec 1, 2022

By Steven R. Wardwell, Gerald G. Stokes

INTRODUCTION A compaction grouting program to control ground loss, and to minimize surface settlement, was developed for the West Tunnel of the Phoenix Storm Drain Tunnels. The West Tunnel was 4,200 m long, 7.56 m in excavated diameter, and was excavated with shallow cover through the central Phoenix business district. The tunnel could not have been successfully excavated without the compaction grouting program. HISTORY After heated political debate over a ten year period, the Arizona Department of Transportation (ADOT) was granted approval to build the Papago Freeway, an extension of Interstate 10, through central Phoenix. To comply with environmental constraints, a portion of the Freeway was depressed, requiring an excavation 10 meters in depth, thus intersecting surface run-off from the northern section of Phoenix. This required that ADOT and Project Design Consultant, Howard, Needles, Tammen & Bergendoff (HNTB) design a drain system to collect run-off and transport it approximately 4 kilometers to the Salt River through the City of Phoenix. Tunnels were chosen for the main discharge conduits because depth and location of the system made cut and cover construction impractical. A contract for construction of the tunnels was awarded to Shank-Artukovich-Ohbayashi (S-A-O) on May 24, 1984.

Jan 1, 1987

By E. P. Fahrenthold, K. E. Gray

Introduction Brine reservoirs along the Texas and Louisiana Gulf coasts are currently under study to investigate the technical and economic viability of production wells designed to extract methane gas in solution. The effect of well pressure drawdown on reservoir rock and associated overburden material is important to well performance predictions and the analysis of potential subsidence problems. Consequently a series of compaction tests have been conducted on sandstone and shale cored from a test well drilled near Hitchcock, Texas, in order to determine the variation of mechanical properties to be expected over the producing life of the formation. Previous Work The referenced tests are part of an extended study of geopressured-geothermal reservoir behavior, including compaction (Jogi, Gray, Ashman, and Thompson, 1981 and Jogi, Kalra, Gray, and Thompson, 1981) and creep (Thompson, Jogi, Gray, and Richardson, 1981) tests of reservoir rock and related reservoir performance studies (Rago, Okhuma, Seperhnoori, and Thompson, 1985). Recent work has considered the nonlinear constitutive behavior of sandstone (Fahrenthold and Gray, 1985 and 19861, while additional experimental work is reported here. Geological structure and composition of the Hitchcock field from which the core samples were obtained is discussed by Light (1985). Experimental Procedure Compaction tests were conducted on cylindrical cores, nominally 2.75 inches in length and 2 inches in diameter, with independent control of the axial, confining, and pore pressures. Axial and radial deformation of the samples were measured in tests over a range of effective stress states expected to develop over the reservoir lifetime. The term effective stress as used here refers to the algebraic difference of the total stress and pore pressure, with compression taken as positive. Three types of compaction tests were conducted on the sandstone. In the uniaxial tests, axial total stress and radial strain were held constant as the pore pressure was reduced, similating one dimensional compaction which may occur during reservoir depletion. In the triaxial tests, radial total stress and pore pressure were held constant as the axial total stress was increased, duplicating conventional rock compaction test procedures. In the pore pressure drawdown tests, axial and radial total stresses were held constant while the pore pressure was reduced, in order to investigate differences in sample response to mechanical and pore pressure loading. Compaction tests were also conducted on shale material obtained from the reservoir overburden. The field coring process provided few consolidated shale sections sufficiently large to allow preparation of samples with the dimensions described above. With additional attrition during sample preparation of this brittle material, ultimate yield of the coring effort was limited. The few available samples were tested in uniaxial and triaxial tests similar to those described above. The use of displacement transducers to measure sample deformation avoided the difficulty of strain gauge installation on this material. Test Results The sandstone and shale both demonstrated nonlinear stress-strain behavior, with hysteresis and residual strain present upon unloading. Polynomial interpolation of the stress-strain curves was used in the calculation of incremental values for the loading and unloading moduli. Figures 1 and 2 show example axial effective stress-axial strain curves for triaxial tests conducted on sandstone and shale samples. The figures plot incremental stress and strain variables, defined as deviations from the state of prestress to which the sample was subjected. The state of prestress was varied between tests in order to investigate material behavior over the entire stress and strain space of interest. Tables 1 and 2 give the incremental moduli (Young's modulus and Poisson's ratio) as a

Jan 1, 1986

By Hans von Michaelis

Very little has been published about Cia de Minas Buena­ventura. Don Alberto Benavides Quintana, now in his seventies, founded the company in 1953. This venerable gentleman is a Doyon of the Peruvian mining industry and more has been known about him than about his company. Buenaventura is a highly profitable gold producer with excellent potential to expand gold production in joint ventures with Newmont, Southern Peru Copper (ASARCO), and BRGM as well by developing their own new gold mines. On September 15, The Wall Street Journal published an article titled "Peru's Big Rebound Sets Off Foreign Investors' Enthusiasm."

Jan 1, 1995

Nautilus Minerals and Neptune Minerals are betting that the next great metals rush will take place more than 1,500 m (5,000 ft) below the sea. Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulfide (SMS) deposits. Its main focus is the Solwara 1 Project, a polymetallic copper, gold, zinc, silver deposit that is under 1,600 m (5,200 ft) of water off the coast of Papua New Guinea in the western Pacific Oceans? Rim of Fire. Nautilus Minerals, in a joint venture with Placer Dome (now Barrick Gold), began its exploration of what would become the Solwara 1 area in 2005 with side scan sonar and dredge sampling. The dredge and grab sampling confirmed the grade tenor of earlier sampling by scientific research programs. The 45 dredge samples aver-aged 10.8 percent copper, 3.7 percent zinc, 224 g/t (6.5 oz/st) silver and 13.7 g/t (0.4 oz/st) gold. Nautilus has since staked out more than 300,000 km2 (115,800 sq miles) of tenement licenses and exploration applications in the waters off Papua New Guinea, Fiji, New Zealand, Tonga and the Solomon Islands. That is an area about the same size of the United Kingdom. Interest in Nautilus and its projects has grown tremendously since its inception. The company is now listed on the Toronto Stock Exchange. It has raised more than $300 million and spent more than $23 million on exploration. The company has gained the backing of mining majors such as Teck Cominco, Epion, Anglo American and Barrick Gold. It is positioned to become an emerging producer in 2010. Teck Cominco recently agreed to exercise share purchase warrants to acquire three million additional common shares of Nautilus at a price of US$15 million. This will take Teck Cominco?s shareholding to approximately 7.2 percent of the issued shares. Teck Cominco will conduct and manage a ship-based exploration program that will run in addition to the exploration that was already planned for 2008.

Jan 1, 2008

By Håkan Tyni, Jan Björkman, Per-Olaf Samskog, Irving Wigdén

Process automation can provide better utilization of capital investments. Furthermore, it is a necessity for securing the high demands of product quality. In this paper, process automation in underground mining as well as in the beneficiation plant will be discussed. The development of reliable broadband communication systems for real-time transfer of image, audio and data have enabled remotely controlled LHDs and drilling rigs. In the beneficiation plants, model-based expert control systems far on-line dynamic process optimization and control have been installed in unit operations such as grinding, flotation and induration.

Jan 1, 2000

By T. R. Ellis

"In August 2013, the Appraisal Practices Board of the U.S. Appraisal Foundation issued its “APB Valuation Advisory #4 - Identifying Comparable Properties,” which contains analysis and examples that may suggest a broader meaning of the term “comparable properties” than is current convention in real property value appraisal in the United States and internationally. The advisory is directed at the appraisal of real property of all kinds, including interests in mineral properties, as indicated by the inclusion of two mineral property appraisal papers in the appendix that lists suggestions for further reading.This paper firstly reviews as background the historical meaning of a comparable property, with its perceived constraints, against real-world examples of transacted mineral properties that are adjusted to subject properties to provide market value indications. The advisory’s findings are then examined and evaluated as to whether they may influence and benefit the work of mineral property appraisers, particularly in situations where their sales comparison analyses may be challenged. The conclusion is that the combination of constraints that the advisory’s findings specify for use of the term “comparable” will for mineral properties be met infrequently or rarely. As a result, mineral property appraisers are advised to avoid using the terms comparable or “comp” when referring to transactions of mineral properties that they analyze to derive data for appraising the value of their subject mineral properties. IntroductionA mineral property appraiser rarely finds a sale of a mineral property that meets the literal meaning of the term “comparable sale,” by being directly comparable to the subject property of the appraisal in all factors of significance in the determination of the value of the property interest being appraised. Real estate appraisers have long used a more liberal interpretation of the meaning of comparable sale and its commonly used abbreviation, “comp.” Real estate appraisers compare sales to their subject property on the basis of price per hectare or acre of land and price per square meter or square foot of building floor area. Adjustments totaling to within the range of +30 to -30 percent from the sale property to the subject, before factoring in the property area, have generally been viewed as appropriate for the sale to be considered a comparable sale."

May 1, 2016