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By David Humphreys

Assumptions about future commodity prices need to be made with close regard to the purposes for which they are being used. Prices generated for financial planning or trading purposes are unlikely to be suitable for the longer run purposes of project evaluation and reserve estimation. In this latter context, price assumptions need to be realistic, stable and rooted in a rigorous fundamental analysis of long run industry drivers. Amongst the factors to be considered in such analysis are price history, production costs and structural dynamics. It is also important that prices adopted are consistent with other information being used by a company in its decision-making.

Jan 1, 2003

By G. B. Gould

FROM the very inception of the price-control experiment in the bituminous-coal industry, the problem of price differentials was of major importance. In fact, assuming that there will be no legal or Govern- mental obstacles to price control, the successful maintenance of the present or any other method designed to control bituminous-coal prices will depend upon the discovery of some satisfactory way to determine these differentials in price, among: individual mines and groups of mines. Being of organic origin, bituminous coal is a commodity that presents an almost infinite variety of qualities. It is inevitable, therefore, that a work- able price-control system must attempt

Jan 1, 1935

By Nathan C. Rockwood

BASIC mineral commodities may be divided into two general classifications in their market or price characteristics. In one class are commodities sold on a world-wide basis, as gold, silver, nickel, asbestos and petroleum, and in the second are those produced and sold locally. Of course, no precise line of demarcation exists between the two; coal, for instance, belongs more or less in both. If there are enough producers of any commodity to prevent control of production by any one person or group, a free market then exists and the price in a buyer's market is determined by the most favored producer-meaning the producer, with the lowest production cost or the lowest cost of transportation, or both, to the particular market, or place of use. With minerals in the first classification, their high intrinsic value far outweighs the transportation cost and a uniform market price is accepted as an essential element in the economy of distribution. But with common minerals of small. intrinsic value and relatively high transportation costs, economists are reluctant to admit that a uniform price may also be an essential element in distribution.

Jan 1, 1940

By Charles L. Kimbell

Comprehensive data on market prices for crude minerals and mineral products for the world as a whole do not exist, and even the data that are available are not necessarily compatible between countries, particularly between the market economy countries and the centrally planned economy countries. Further, it should be evident that the actual delivered price for a small quantity of any specific commodity at some point substantially removed from a production facility or a seacoast port will differ appreciably from that for a large volume of the same product at or near its production source or a major import center. Nevertheless, the regularly published prices of selected major mineral commodities in key market areas can be regarded as indicative of general world price trends.

Jan 1, 1992

By Charles L. Kimbell

The series summarizing the prices of the major nonferrous metals on the stock exchanges of the United States and the United Kingdom has been continued this year in tables 23 and 24. As a result of the lack of availability of comprehensive data on the prices of metals in Canada, the table that had presented that information in past years in this chapter has been discontinued and the price series for nickel that had been in that table now appears in the table presenting metal prices in the United States.

Jan 1, 1993

By Ivette E. Torres

The series summarizing the prices of the major nonferrous metals on the stock exchanges of the United States and the United Kingdom (London Metal Exchange) has been continued this year in tables 22 and 23. Time constraints have prohibited preparation of other price information that has appeared in this study in previous years. Users are urged to consult the 1993 U. S. Bureau of Mines publication Metal Prices in the United States through 1992, which gives an analysis of historical price series and trends, or the 1993 edition of Mineral Commodity Summaries for current U.S. prices on non fuel commodities, and to utilize U.S. Department of Energy sources for information on fuel material costs.

Jan 1, 1994

By Charles L. Kimbell

The series summarizing the prices of the major nonferrous metals on the stock exchanges of the United States and the United Kingdom has been continued this year in tables 23 and 24. Time constraints have prohibited preparation of other price information that has appeared in this study in previous years. Users are urged to consult the 1993 USBM publication Metal Prices in the United States through 1991, which gives an analysis of historical price series and trends, or the 1993 edition of Mineral Commodity Summaries for current U.S. prices on non fuel commodities, and to utilize U.S. Department of Energy sources for information on fuel material costs.

Jan 1, 1993

By Walter J. Mead

By American tradition, if not by rational decision, publicly owned natural resources have been transferred to private industry for processing. The process of transfer requires specific determination of the price which the patentee, buyer, or lessee must pay to the government in exchange for the right to develop a resource, and selection of the patentee, buyer, or lessee from among several possible contestants. Pricing of natural resources owned by the government presents a set of problems quite different from ordinary commodity pricing. Natural resources in situ are not homogeneous commodities. Within any class of natural resources, specific leasable parcels will differ in value by reason of location and accessibility, as well as quality and quantity. Thus, there is no "going price;" every lease within a specific resource class will have a different value. To complicate further the pricing and buyer selection problems, competition may not be reliable. Natural-resource markets are characterized by oligopsony conditions. In a significant number of cases, as will be shown later, there has been only one bidder for a given lease, and in most lease sales the number of bidders is equal to or less than three. As a further complication, there is great uncertainty regarding the value of specific resources, even among the best-informed buyers, as well as within the leasing agency. In some instances, particularly with regard to oil and gas resources, there may be uncertainty about the presence of resources, as well as the quantity and quality of any resources contained in the tract offered for lease. In other cases, such as oil shale and some deep ocean minerals where new technologies are involved, the presence of the resource is clearly established. There may be a relatively high degree of knowledge about the quantity and quality of the resource, but there is great uncertainty concerning the cost of production. These problems in total make it difficult for the leasing agency to appraise accurately the resource to be leased, as well as for the potential bidder to calculate a bid price that will yield him a normal profit. The pricing goal of the federal government as the seller or lessee may be to capture the economic rent; that is, the price of a resource might equal its discounted present value. A required price substantially above this amount would either generate no bids, or, in the long run, would bankrupt the buyer. A price below this amount is a disguised subsidy to the lessee. A subsidy to mineral lessees, as to any other economic interest group, as a minimum should be justified by a clear showing of net external benefits from the economic activity. In the case of timber sales by the U.S. Forest Service, the Forest Service Handbook asserts that "the aim in national forest stumpage appraisal is to determine market value,"8 and "market value" is equated to "fair market value." Regarding minerals, there is no reference in legislation or regula-

Jan 1, 1976

By M. Steyn

Until 2000, pricing involved profit taking and cost covering combined with limited global published information. Market information was mostly subjective in nature and large resource companies benefited exclusively from aggregated company information and data. The market constituted producers and consumers only. The nineties saw massive cost cutting drives and re-engineering initiatives and this underwrote the structural changes evident in the late 1990s? economy. This supported South African producers on the international FOB cash cost curve, and ensured profitable coal mining operations. As the debate on relative scarcity of fossil fuels ensued, producers and buyers looked to the developing terminal coal market for direction. The much needed direction was provided when the API coal indices were developed and derivative trading was embraced to include financial institutions, trading houses and hedge funds. The liquidity of coal trades increased rapidly and vastly and market information became obtainable on a daily basis. Interpretation of current and future coal prices became available to all market players and contributed to the sophistication of the market that is now able to participate in risk management of prices, capital expenditure and brownfield developments.

Jan 1, 2010

By Humberto Celeste Gomes

Este trabalho irá apresentar os critérios e considerações que levaram a AMT decidir pela primarização de duas equipes de manutenção da área de Energia (equipe de manutenção mecânica das turbomáquinas e equipe de manutenção elétrica de SEP/RUG). Apresentará também os desafios de formação, treinamento e capacitação das equipes bem como abordará a avaliação dos ganhos do projeto. Ganho em produtividade: Aumento da produtividade da equipe com a redução de 11% da quantidade total de empregados e Ganho financeiro para a empresa em função de redução de custo fixo. Ganhos adicionais: Melhoria na qualidade dos serviços, com menor retrabalho e turn over; oportunidade de redução de contratação SPOT em outras atividades envolvendo equipamentos rotativos de menor porte (ex: bombas); Formação de uma base de técnicos para futuras promoções internas (inspetores, técnicos de manutenção dentre outras). Pontos de atenção: Serviços realizados fora do horário ADM pela equipe de manutenção; Formação de turno de revezamento na equipe de manutenção de Turbomáquinas em grandes paradas.

Sep 25, 2017

The term metamorphism as commonly used means any change in a rock in either form or composition, from whatever cause. By metasomatism, according to Lindgren, is meant a metamorphism that involves a change in the chemical composition of a rock by the addition or subtraction of substance. Certain types of metamorphism are due to the action of mineralizing solutions, and are closely connected with ore deposition; they form, therefore, valuable guides in the exploration for ore- deposits. Other types of metamorphism are due to regional processes, and are not connected with ore deposition. By dynamo-regional metamorphism is meant a primary alteration of rocks over large areas under conditions of pressure, flowage, and heat. This process produces schists and gneisses from either sediments or igneous rocks. It is thought that there is little migration of minerals or of elements in dynamo-regional metamorphism, and that the changes are due chiefly to recrystallization and rearrangement of original minerals in bands with their major axes oriented normal to the direction of greatest pressure. Under these conditions limestones are commonly altered to marble, and sandstones to quartzite, basic igneous rocks to greenstone or serpentine, while rocks of normal or acid com- position commonly yield the usual types of schist or gneiss. Dynamo-regional metamorphism, extending over large areas, has no connection with mineralizing processes, and is, therefore, no guide to ore deposits; while this process has certain features, such as characteristic mineral associations, in common with contact metamorphism, the results of the two processes may usually be distinguished without difficulty.

Jan 1, 1932

By C Gunther

The term metamorphism as commonly used means any change in a rock in either form or composition, from whatever cause. By metasomatism, according to Lindgren, is meant a metamorphism that involves a change in the chemical composition of a rock by the addition or subtraction of substance. Certain types of metamorphism are due to the action of mineralizing solutions, and are closely connected with ore deposition; they form, therefore, valuable guides in the exploration for ore-deposits. Other types of metamorphism are due to regional processes, and are not connected with ore deposition. By dynamo-regional metamorphism is meant a primary alteration of rocks over large areas under conditions of pressure, flow- age, and heat. This process produces schists and gneisses from either sediments or igneous rocks. It is thought that there is little migration of minerals or of elements in dynamo-regional metamorphism, and that the changes are due chiefly to recrysallization and rearrangement of original minerals in bands with their major axes oriented normal to the direction of greatest pressure. Under these conditions limestones are commonly altered to marble, and sandstones to quartzite, basic igneous rocks to greenstone or serpentine, while rocks of normal or acid com- position commonly yield the usual types of schist or gneiss. Dynamo-regional metamorphism, extending over large areas, has no connection with mineralizing processes, and is, therefore, no guide to ore deposits; while this process has certain features, such as characteristic mineral associations, in common with contact metamorphism, the results of the two processes may usually be distinguished without difficulty.

Jan 1, 1932

By J. Hamisch

Climate policy regarding perfluorocarbons (PFCs) may have a significant influence on investment decisions in the production of primary aluminum. This work demonstrates an integrated analysis of the effectiveness and likely economic consequences of different climate policy options. In our study we first compare atmospheric observations to the available estimates of PFC emissions for the baseline years 1990 and 1995. We then present projections for regional emissions of PFCs from the aluminum industry using the MIT Emissions Projection and Policy Analysis model under different policy scenarios. Abatement costs for emissions of PFCs and C02 are compared in the context of the Kyoto Protocol.

Jan 1, 1999

By D. M. Bondurant

Auger mining-extraction of coal with large diameter augers is proving profitable in recovering coal left after stripping has ceased to be economical. Its many advantages-low initial cost of equipment, low operating cost, low power demand, adaptability to selective mining, simplicity of operation, etc.-have excited the interest of some in the industry in its possibilities for underground operation.

Jan 5, 1951

The cement industry requires large quan- tities of limestone, its main raw material. It is the major consumer of this mineral. Limestone is widely distributed throughout Australia but location in relation to major markets, and transport considerations render most deposits of no economic value. Of those which are sufficiently close to the major me- tropolitan markets many are rejected as being unsuitable on grounds of quality, inadequate size for major development, or other reasons such as environmental considerations. Detailed geological investigations are necessary, not only to prove raw material sources prior to establishment of a cement works but also to permit planned extraction programmes and satisfactory grade control during subsequent development. Conventional field techniques have generally proved adequate for raw material exploration. Data assessment and reserves estimation also are by conventional methods although the specific requirements of the industry relating to raw material and cement quality, the type of manufacturing process and fuel used are relevant. A number of case studies from different geological environ- ments are examined and comparisons made bet- ween the predictions of the exploration stage and subsequent experience in quarrying prac- Tice.

Jan 1, 1979

By III Kimball

For many years, Arizona merely shadowed EPA's environ-mental regulation of mining operations and waste. During this period, Arizona generally assisted EPA in the implementation of federal programs and enacted environmental laws patterned closely after their federal counterparts. A growing public concern about protecting water quality, particularly groundwater quality, eventually caused the State to depart from this pattern.

Jan 1, 1989

By A. A. Dor

Recent developments in the design of concentration plants have reflected the increased recognition that has been given to the economic and metallurgical advantages of autogenous grinding. This has manifested itself in the increasing adoption of primary auto genous grinding in iron ore 'beneficiation plants in North America. Table 1 lists eleven major iron ore beneficiation plants which have either been put in operation since 1961 or are under construction at present. Seven out of these eleven plants have adopted primary autogenous grinding. Four of them have coarse grinding mills (8 to 14 mesh) and three have fine grinding primary circuits (48 to 65 mesh). Their nominal capacity totals 26. 2 million ltpy of concentrates or pellets, representing very nearly 75% of the aggregate capacity 135. 3 million ltpy) of the eleven concentrators listed. For a long time there was a tendency to consider that primary autogenous grinding was only applicable to suitable coarse grained ores, However, extensive testing of a very wide variety of ores, and actual operating performance in several commercial plants, seem to have established beyond reasonable doubt, that the majority of mineral ores which the beneficiation engineer may be called upon to process can be ground autogenously. The basis for the selection of autogenous or conventional grinding mills, becomes principally economic and depends on the liberation characteristics of the ores under consideration and their relative hardness and grindability.

Jan 1, 1965

By John W. Chang

Introduction Automatic control of primary ball mill circuits has received much attention over the past decade, primarily because its advantages ultimately can be translated into economic terms. Apart from such obvious benefits as improved product quality, increased throughput, and more stable operation, less direct benefits such as easier operation, more orderly maintenance scheduling, and timely management reports all can be realized with the application of modern automatic process control equipment and techniques. Software configurable digital computer-based control systems offer ease of change in control strategies. Occasional control strategy changes are necessary whenever control objectives change or circuit modifications occur. The dependency of control strategies on control objectives and circuit equipment to effect optimal circuit operation is an important, but often neglected issue. Because of the potential for even better control, research and development work continues. [See (Ulsoy & Sastry, 1981) and (Hulbert & Braae, 1981).] Some of the possibilities are discussed later in this presentation. A few preliminary remarks may be in order concerning the relationships among control objectives, control strategies, and circuit equipment. Generally accepted control objectives for primary ball mill circuits include: 1. Maintaining a desired percent solids in the mill. 2. Maintaining a desired measure of particle size distribution at the cyclone overflow. 3. Maximizing throughput. Control Objective I is a requirement for proper operation of the ball mill, especially if it is a grate mill. It concerns smooth movement of material through the mill. Control Objective 2 is a product specification - one of the requirements for proper flotation operation. Control Objective 3, an expression of the desire to get the most out of the circuit, is the easiest to evaluate in economic terms. It assumes that the processes downstream

Jan 1, 1982

By K. R. Crocker

PRIMARY blasting at the open pit of the Cananea Consolidated Copper Co. has been developed to meet several conditions peculiar to the operation. Mining at Cananea is not confined to the open pit but is in conjunction with the underground mine which has been in operation for many years. Several old stopes included in the pit area were filled with waste obtained in stripping for the pit. The main haulage tunnel for the underground ore passes directly under one section of the pit and at present is but 180 ft below the pit floor. The pit as originally laid out called for an overall final pit limit slope of 60°. However, the upper 275 ft - a fairly soft oxidized capping, was carried at a 50° slope and the lower benches, which constitute 750 ft in combined height, are being mined to an over-all final slope of 60°.

Jan 6, 1950

By Glenn S. Wyman

CHUQUICAMATA, located in northern Chile in the Province of Antofagasta, is on the western slope of the Andes at an elevation of 9500 ft. Because of its position on the eastern edge of the Atacama Desert, the climate is extremely arid with practically no precipitation, either rain or snow. All primary blasting in the open-pit mine at Chuquicamata is done by the churn drill, blasthole method. Since 1915; when the first tonnages of importance were removed from the open pit, there have been many changes in the blasting practice, but no clear-cut rules of method and procedure have been devised for application to the mine as a whole. One general fact stands out: both the ore and waste rock at Chuquicamata are difficult to break satisfactorily for the most efficient operation of power shovels. Numerous experiments have been made in an effort to improve the breakage and thereby increase the shovel efficiency. Holes of different diameter have been drilled, the length of toe and spacing of holes have been varied, and several types of explosives have been used. Early blasting was done by the tunnel method. The banks were high, generally 30 m, requiring the use of large charges of black powder, detonated by electric blasting caps: Large tonnages were broken at comparatively low cost, but the method left such a large proportion of oversize material for secondary blasting that satisfactory shovel operation was practically impossible: Railroad-type steam and electric shovels then in service proved unequal to the task of efficiently handling the large proportion of oversize material produced. The clean-up of high banks proved to be dangerous and expensive as large quantities of explosive were consumed in dressing these banks, and from time to time the shovels were damaged by rock slides. As early as 1923 the high benches were divided, and a standard height of 12 m was selected for the development of new benches. The recently acquired Bucyrus-Erie 550-B shovel, with its greater radius of operation compared to the Bucyrus-Erie 320-B formerly used for bench development, allowed the bench height to be increased to 16 m. Churn drill, blasthole shooting proved to be successful, and tunnel blasts were limited to certain locations where development existed or natural ground conditions made the method more attractive than the use of churn-drill holes. Liquid oxygen explosive and black powder were used along with dynamite of various grades in blasthole loading up to early 1937. Liquid oxygen and black powder were discontinued because they were more difficult to handle due to their sensitivity to fire or sparks in the extremely dry climate. At present ammonium nitrate dynamite is favored because of its superior handling qualities and its adaptability to the dry condition found in 90 pct of the mine. In wet holes, which are found only in the lowest bench of the pit and account for the remaining 10 pct of the ground to be broken, Nitramon in 8x24-in. cans, or ammonium nitrate dynamite packed in 8x24-in. paper cartridges, is being used. This latter explosive, which is protected by a special antiwetting agent that makes the cartridges resistant to water for about 24 hr, currently is considered the best available for the work and is preferred over Nitramon. Early churn drill hole shots detonated' by electric blasting caps, one in each hole, gave trouble because of misfires caused by the improper balance of resistance in the electrical circuits. Primarily, it was of vital importance to effect an absolute balance of resistance in these circuits, the undertaking and completion of which invariably caused delays in the shooting schedule. Misfires resulting from the improper balance of electrical circuits, or from any other cause, were extremely hazardous, since holes had to be unloaded or fired by the insertion of another detonator. The advent of cordeau, later followed by primacord, corrected this particular difficulty and therefore reduced the possibility of missed holes. After much experimentation, the blasting practice evolved into single row, multihole shots, with the holes spaced 4.5 to 5 m center to center in a row 7.5 to 8 m back from the toe. Such shots were fired from either end .by electric blasting caps attached to the main trunk lines of cordeau or primacord. The detonating speed of cordeau or primacord gave the practical effect of firing all holes instantaneously. Double row and multirow blasts, fired instantaneously with cordeau or primacord, proved to be unsatisfactory in the type of rock found at Chuquica-

Jan 1, 1952