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By C. Richard Tinsley

INTRODUCTION Documentary complications arise from the risk apportionment in project financing which generally means that once the project is up and running and has satisfied the lender's completion test, the loan agreement specifically limits the lender's recourse to the project and its assets. It is the purpose of this paper to describe the special considerations which apply to industrial minerals projects and explore the reasons why so few project financings are negotiated in this industry. SIZE Small projects do not warrant the relatively high costs of negotiating and documenting project financing. The extent of the documentation is directly proportionate to either (a) the degree of risk apportionment, or (b) the amount of control given to lawyers to negotiate the documents. Although one would like to believe that project-finance documentation could be off-the-shelf, it is almost always necessary to tailor the documents to the mine development itself and the individual desires of the borrower. Accordingly, the documentation costs and initial expenses are seldom less than $40,000, and for complex projects can reach $400,000. In addition, banks often charge an up-front fee to partly compensate them for their staff time and partly to increase their yield on what is deemed to be a "riskier" loan asset. Another factor is the generally lower debt:equity ratio when bankers are uncertain of the accuracy of the cash flow projections. The ratio of the amount of cash flow left over after debt service to debt service itself is a key tool for project finance (debt service coverage). Bankers will require a higher coverage ratio for industrial minerals projects because of the relatively higher uncertainties in the following categories: Prices Markets Geology/Quality Transportation Environmental This, in turn, means that lower debt:equity ratios are the norm for new industrial minerals projects. INDUSTRY STRUCTURE It is hardly worthwhile to generalise about a field as diverse as industrial minerals, but there are four other structural reasons why project financing has not been widely applied. 1. The most obvious example is the predominance of small-sized operations, largely a function of transportation economics. Geological conditions also contribute to their dispersion. 2. Often, the product is only a small part of a company's business in contrast to many petroleum, metals, or coal companies whose sole business is the production of the raw material. The construction industry is a good example here for cement, gypsum, crushed stone, sand and gravel, and the drilling-mud services business for barite and bentonite. A company is unlikely to jeopardise its main business through the failure of a project financing on one of its key inputs. The corrollary is that the mined input is often regarded as a cost centre and not run on the sort of economic basis suitable for project financing. 3. There may be a reluctance to reveal key aspects of an industrial minerals venture to an outsider for purely competitive reasons. Unlike the other minerals industries which readily share technical information at plant visits and

Jan 1, 1985

By William F. Hahn

It is a pleasure to speak to this group about special crusher installations which are in the bauxite and phosphate rock processing industries. The installations to be discussed demonstrate the variety of conditions, materials, and results desired which must be evaluated before a selection is made from the specialized crusher technology available today. Those of you who are closely involved with phosphate rock and phosphate products processing will find some of this information a bit interesting and perhaps alien to your own descriptions or every day references. It is given from a "crusher" manufacturer's viewpoint and therefore is infused With our flair and language. General features of six (6) different crushers will be shown in cross-section With slides and will be discussed in the same order.

Jan 1, 1978

IT does not seem practicable to review all the other specialized curricula that have developed in the mineral industries field in so much detail as has been given for petroleum. Nor is it easy to draw a definite line between true curricula, leading to a designated degree in the special subject, and options, which may range from the mere substitution of one or two courses for others in the final years to differences so extensive as almost to amount to separate curricula. Even to attempt to catalogue all the options that have been offered at one time or another would require too much space. The remainder of this discussion, therefore, will be confined to three topics which seem to be of major importance. Mining and metallurgical curricula will be covered in a later chapter. GEOLOGY The first, from the historical view, is geology in its relation to the mineral industries. Previous chapters have made clear that in the early years of mineral industry instruction in the United States economic geology and mining engineering so overlapped one another that men who were by, training and experience economic geologists were appointed professors of mining, while men who had graduated as mining engineers sometimes developed into professors of geology. Even today men whose basic training was in geology as a pure science, and who perhaps took a doctor's degree in that subject, have attained such distinction in the mineral industries as to be universally accepted as "mining men," and their right to be regarded as mining engineers would- not be questioned, even though they did not take a degree in engineering. Nevertheless the distinction does exist, and has been made a concrete reality in recent years by the enactment of

Jan 1, 1941

By Thomas T., Read

IT does not seem practicable to review all the other specialized curricula that have developed in the mineral industries field in so much detail as has been given for petroleum. Nor is it easy to draw a definite line between true curricula, leading to a designated degree in the special subject, and options, which may range from the mere substitution of one or two courses for others ' in the final years to differences so extensive as almost to amount to separate curricula. Even to attempt to catalogue all the options that have been offered at one time or another would , require too much space. The remainder of this discussion, there- fore, will be confined to three topics which seem to be of major importance. Mining and metallurgical curricula will be covered in a later chapter. Geology The first, from the historical view, is geology in its relation to the mineral industries. Previous, chapters have made clear that in the early years of mineral industry instruction in the United States economic geology and mining engineering, so overlapped one another that men who were by training and experience economic geologists were appointed professors of mining, while men who had graduated as mining engineers sometimes developed into professors of geology. Even today men whose basic training was in- geology as a pure science, and who perhaps took a doctor's .degree in that subject, have attained such distinction in the mineral industries as to be universally accepted as "mining men," and their right to be regarded as mining engineers would not be questioned, even though 'they did not .take a degree in engineering. Nevertheless the distinction does exist, and has been made a concrete reality in recent years by the enactment of

Jan 1, 1941

Pilot plants for pressure hydrometallurgy represent special design and project execution challenges unique to the industry and to the pilot- and demonstration-scale. Pilot plant projects have different objectives and shorter timescales than commercial plant projects. Design considerations and strategies, and project execution methods that meet the special needs of pilot plant projects, are discussed. Specific guidance is given for the selection of appropriate pressure and temperature design points for pressure hydrometallurgical process equipment, and for the selection of materials of construction for pilot-scale equipment. The balance between the need for process similarity with future commercial operations and the realities of pilot-scale equipment is also discussed.

Jan 1, 2004

"Pilot plants for pressure hydrometallurgy represent special design and project execution challenges. Over the past twenty years, Zeton has designed and fabricated a variety of world-class pressure hydrometallurgical pilot-plant facilities, and this paper discusses design considerations and strategies related to such projects. Project execution methods are also discussed, and guidance is given for the selection of materials of construction and for the selection of appropriate pressure and temperature design points for pressure hydrometallurgical pilot equipment. The paper concludes with a discussion of the need for process similarity with future commercial operations and the realities of pilot-scale equipment.INTRODUCTIONThe process technology developer or owner and the designer/fabricator of a new pilot-plant facility are faced with some difficult technical choices even after the decision to build a dedicated plant has been taken. A pilot-plant project is usually on the critical path of a large commercial project involving investments many multiples greater than the capital cost of the pilot plant. Schedule savings in the design, manufacture, and commissioning of the pilot plant or in a rapid completion of the experimental program can be disproportionately beneficial to the overall development project. However, inappropriate shortcuts resulting in major oversights can be disproportionately problematic.A number of considerations and suggestions for both the project execution approach and the process engineering design of pressure hydrometallurgical pilot-plant facilities are presented as a guide for potential owners and operators of new pilot-plant equipment and facilities."

Jan 1, 2012

The winning and upgrading of mineral raw materials necessarily includes size reduction, which serves the liberation and production of marketable products from highly valuable and bulk materials. For crushing, the following factors can be duly accounted for depending on material type and the selection of the suitable machine: ò producing a particular size distribution, ò producing a particular grain shape, ò selective comminution, ò gentle comminution, and ò producing a size range required by a specific process and/or for a specific product.

Jan 1, 1993

By Dr. O’Neil Thomas J., Donald W. Gentry

"If you can hold a board of cross directors In happiness against their gauzy schemes; If you can dodge the wrath of the electors Till dividends will flow as in their dreams; If you can make a mine pay from the grass roots No matter what the time or place or year; Then on my soul until the final blast shoots We'll add the title "MINING" when we call you "ENGINEER. " -From Wayne Darlington, "The Mining Engineer, " The Engineering and Mining Journal, Vol. 98, Sept. 26, 1914, p. 587. REASONS FOR THIS CHAPTER Up to this point in the book the material presented has addressed the fundamental parameters associated with the evaluation of mining ventures and other investment alternatives. The procedures and techniques illustrated represent the basic approach to project evaluation, particularly when considering the normal engineering economic analysis of investment proposals. The evaluation procedure is complicated, however, when dealing specifically with mining-related investment proposals. These complicating factors are invariably directly related to the many special characteristics of the mining industry. Many of these special features such as tax policies, revenue and cost estimation, and ore reserves have been addressed in previous chapters. In addition to the many special features of mining which directly impact, in a quantitative manner, the various line items in the pro forma income statements of a cash flow analysis, other features of mining affect evaluation procedures in a more general manner. The main purpose of this chapter, then, is to provide an exposition of some of these more qualitative factors. We hope this will enable the reader to recognize these factors in mine evaluation practice and to make suitable adjustments in his or her analysis.

Jan 1, 1984

By S. C. Sethi

The paper presents an analysis and discussion of the underground ventilation system at the waste Isolation Pilot Plant (WIPP), with particular emphasis on specific repository-related requirements and the gradual evolution of engineering designs relative to the WIPP Project scope. The underground facility has been constructed with three shafts. Additional studies, coupled with actual site-specific experience, have established? the need for construction of a fourth ventilation shaft to double the under-ground airflow. As a research pilot project, and the first of its type in combining mining and nuclear technologies, the WIPP Project is accumulating data and experience that may be fruitfully applied in the future designs of ventilation systems for planned commercial nuclear waste repositories.

Jan 1, 1988

Jan 1, 1913

Jan 1, 2002

By Wolfgang G. Brunner

The center of Berlin is currently a huge jobsite, where international architects, designers, consultants, construction and ground engineers as well as investors take on the challenge of the biggest and probably most complicated projects in terms of soil conditions in Europe. The Berlin sand is generally suitable for foundation measures, but can be very tricky in deep excavation pits below the high ground water level. The reason for this is its uniform grading, medium dense stratification and lack of cohesion. The requirements for these deep pits are: - measurements in the range of up to 120 000 m2 per pit - depths up to 19 m below ground water level - lack of dense horizontal geological layers - no permission for lowering ground water levels - toughest ever European competition in construction. Sheet pile walls, sheet piles set into cut - off walls, secant pile walls, diaphragm walls, all with tie backs under high water pressure, are used as retaining sytems. The pits are closed at the bottom against water either by under water concrete, deep lying grouted cut - offs or high lying jet - grouted cut - off slabs. The huge dimensions of these excavation pits are a new challenge for ground engineers, and new technology had to solve the upcoming problems and resulted in new experience.

Jan 1, 1999

By D. A. Greenwood

Dr David Greenwood opened the first technical session of the conference by highlighting the diverse nature of the papers in this session but drawing attention to the common theme that each solved a particular problem. PAPER 1.1 Tony Elliott introduced his paper on deep mix-in-place soil/cement stabilisation by stressing its simplicity. The engineering solution adopted at Elland was detailed in his paper and had formed the key to success of the project. The process itself is not widely used or known in the UK, although it has the potential to achieve significant benefits, subject to proper engineering control being exercised. It was explained that although the concept was not new, development of the technique for soil modification was relatively recent. The alternatives to mechanical mixing are injection, which is very dependent on soil type, site geometry, etc, and jet grouting; both processes are soil-responsive, and not easily monitored or programmed, difficulties which can largely be overcome by mixing. To achieve this at depths to say 30m requires high-powered, high torque machines and has resulted in significant equipment development.

Jan 1, 1991

By K. Englehardt

J BERESFORD introduced the subject of the paper which is the use of polymeric slurries to support the sides of diaphragm wall and bored pile excavations during construction. In the opinion of the authors the use of a suitable polymeric fluid offers financial and technical advantages compared with traditional bentonite based slurries. Under quiescent conditions a support slurry must have the following properties. - sufficient viscosity to support the sides of the excavation, to prevent infiltration into soils and to hold loose soil particles in suspension. - when agitated it should thin quickly to assist pumping transfer and cleaning and allow free passage of the grab or drill. - viscosity should be low enough during concreting to facilitate placement but high enough to prevent contamination of the concrete.

Jan 1, 1991

By Wolfgang G. Brunner

The closing of the gap in the European waterway- net is one of the big and challenging traffic projects following the German reunification. The water canals in the North German plain connect the Rhine river, the border between Germany and France, with the Oder, the German border river to Poland. As early as in the 30's of the 19th century the planning and construction of a ship- lift and a canal bridge started, in order to close this last big gap in the system between the Mittelland Canal and the Elbe- Havel Canal near Magdeburg. This main waterway connects the West of Germany, known for its coal mines and steel mills, with the capital Berlin, and from there it goes on into Poland. The building activities started in 1934 but came to a complete stop in 1942 because of the war. The communist government in East Germany was not interested in continuing this huge project, including the ship lock Rothensee, the canal bridge crossing the river Elbe, the former border river between West and East Germany, and the lock Hohenwarthe due to lack of political backing along with low construction capacity.

Jan 1, 2000

5. The medal committee may invite nominations from the membership of the Institute, such nominations to be accompanied by an argument in favor of the award and details sufficient for a proper citation to be drawn. This medal has been awarded as follows: 1927—David William Brunton. 1929—John Hays Hammond. 1928—Herbert Hoover. 1930-Daniel C. Jackling. Miscellaneous Prizes Many of the Local Sections have established or administer prizes for the best paper presented within the year by any junior member. Annual Lectures Howe Memorial Lecture The Howe Memorial Lecture, in memory of Henry Marion Howe, Past President of the Institute, was authorized in April, 1923, as an annual address to be delivered by invitation under the auspices of the Institute by an individual of recognized and outstanding attainment in the science and practice of iron and steel metallurgy or metallography, chosen by the Board of Directors upon recommendation of the Iron and Steel Division. The following were the Howe lectures and lecturers for the years indicated: 1924 What is Steel? By Albert Sauveur. 1925 Austenite and Austenitic Steels. By John A. Mathews. 1926 Twenty-Eve Years of Metallography. By William Campbell. 1927 Alloy Steels. By Bradley Stoughton. 1928 Significance of the Simple Steel Analysis. By Harry D. Hibbard. 1929 Studies of Hadfield's Manganese Steel with the High-power Microscope. By John Howe Hall. 1930 The Future of the American Iron and Steel Industry. By Zay Jeffries. Institute of Metals Lecture An annual lectureship was established in 1921 by the Institute of Metals and it has come to be one of the important functions of the Annual Meeting. A number of distinguished men from this country and abroad have served in this lectureship. The roll is quoted below: 1922 Colloid Chemistry and Metallurgy. By Wider D. Bancroft. 1923 Solid Solution. By Walter Rosenhain. 1924 The Trend in the Science of Metals. By Zay Jeffries. 1925 Action of Hot Wall: a Factor of Fundamental Influence on the Rapid Corrosion of Water Tubes and Related to the Segregation in Hot Metals. By Carl Benedicks. 1926 The Relation between Metallurgy and Atomic Structure. By Paul D. Foote. 1927 Growth of Metallic Crystals. By Cecil H. Desch. 1928 Twining in Metals. By C. H. Mathewson. 1929 The Passivity of Metals, and Its Relation to Problems of Corrosion. By Ulick R. Evans. 1930 Hard Metal Carbides and Cemented Tungsten Carbide. By 8. L. Hopt.

Jan 1, 1930

The Institute conducts jointly with the American Society of Civil Engineers, 'American Society of Mechanical Engineers and American Institute of Electrical Engineers, certain activities as listed below, and is joint owner with them if certain properties. United Engineering. Trustees, Inc. When Mr. Carnegie made his gift which made possible a home for the engineering societies, a separate corporation was organized to act as a holding company and to manage the common property. This was long known as the United Engineering Society but the name has now been changed to one which more nearly reflects the real function of the corporation. It holds title to the Engineering societies Building and to various funds placed in its charge and is managed by a Board of Trustees of which three are chosen by each of the four societies, American Institute of Mining and Metallurgical Engineers, American Society of Mechanical Engineers, American Institute of Electrical Engineers and American Society of Civil Engineers, which own equal and undivided interests in the property. The land and building cost two million dollars. The interest of each of the Founders societies, aside from especial trust funds, is now valued at $493,352. The A. I. M. E. trustees are Arthur S. Dwight, J. V. N. Don and George D. Barron. The President of the Board is Francis Lee Stuart and the Secretary, Alfred D. Flinn.

Jan 1, 1929

The Institute conducts jointly with the American Society of Civil Engineers, American Society of Mechanical Engineers and American Institute of Electrical Engineers, certain activities as listed below, and is joint owner with them of certain properties. United Engineering Trustees, Inc. When Mr. Carnegie made his gift which made possible a home for the engineering societies, a separate corporation was organized to act as a holding company and to manage the common property. This was long known as the United Engineering Society but the name has now been changed to one which more nearly reflects the real function of the corporation. It holds title to the Engineering Societies Building and to various funds placed in its charge and is managed by a Board of Trustees of which three are chosen by each of the four societies, American Institute of Mining and Metallurgical Engineers, American Society of Mechanical Engineers, American Institute of Electrical Engineers and American Society of Civil Engineers, which own equal and undivided interests in the property. The land and building cost two million dollars. The interest of each of the Founders societies, aside from especial trust funds, is now valued at $493,352. The A. I. M. E. trustees are Arthur S. Dwight, J. V. N. Derr and George D. Barron. The President of the Board is Francis Lee Stuart and the Secretary, Alfred D. Flinn.

Jan 1, 1923

A Special General Meeting of the Institute was held in Kelvin House, Johannesburg on Wednesday, 29th September, 1971. The President, Prof. D. D. Howat opened the meeting at 9.55 a.m. The President read the notice of meeting which was as follows: "In order to bring industry into closer liaison with the work of your Institute and to place the Institute's finances on a sound basis your Council recommends that companies be admitted to membership of the Institute under clause 2.6 of the Constitution, that is, as Non-Corporate members. The designation for this class of member will be that of "Company Affiliate". 2 Membership: This clause to be amended as follows:- 2.6 "Non-Corporate members shall comprise the grades of:- Company Affiliate Honorary Fellow Graduate Associate Student" 2.6.1 This clause to be added:- "Companies involved in or associated with the mining or metallurgical industries are eligible to become company affiliates" 2.14 Add:- "A special certificate shall be issued to all company affiliates". After giving the background to the recommendation made by Council the President asked for a proposer and seconder for the resolution. Mr J. K. E. Douglas proposed and Mr D. G. Maxwell seconded the resolution. The meeting agreed that the constitution be amended as proposed. The meeting closed as 10.05 a.m.

By Robert E. Goodwin

As man's need for minerals continues to grow and as the known mineral deposits become depleted, it may be expected that these increased demands will result in greater exploration for additional deposits and at continually increasing depths below the earth's surface. As labor and material costs continue to rise, the need for more economic material handling will be emphasized. The quest for heavier payloads, safely moved at faster speeds from deeper mines, will be vigorously pursued. Strenuous efforts are, therefore, being made in the wire rope industry to develop ropes with greater strength-to-weight ratios than presently available while maintaining the dependability and long life being received from the conventional rope manufactured today. For many years, high quality rope wire has been manufactured from rods of selected steel compositions. Carefully-controlled wire drawing combined with proper heat treatment has resulted in high quality wire and wire rope throughout this period. Refinements in the rod produced from specially-selected high carbon steels combined with the latest improvements in wire drawing and heat treatments have made it possible to manufacture higher strength rope wire of uniform composition and structure that is suitable for use in Special High Strength wire rope.

Jan 1, 1970