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By D. K. Dysinger

Capital resource budgeting is the means by which managers of publicly held companies fulfill their fiduciary responsibility to maximize the wealth of stockholders. Managers maximize shareholder wealth by allocating investment capital to the most productive of competing alternative projects in a manner that maximizes the net present value of the firm's future cash flow. The techniques of cash flow analysis are the primary tools available for selecting a corporate portfolio of projects that meets or exceeds the rate of return expected by shareholders. The reliability of cash flow analysis hinges on the ability of managers to forecast the future values of individual components. The accuracy and reliability of forecasting determine the soundness of capital investment decisions and, ultimately, determine the value of the firm. The present paper will explore tools for forecasting the spot market price of a commodity, silver, to demonstrate the difficulty and uncertainty involved in forecasting the future. The commodity price is only one of a number of components of the cash flow equation. Each component has a unique and uncertain future and must be individually analyzed and forecast to arrive at a robust cash flow model.

Jan 1, 1997

By James E. Breland

A case study of tangible and intangible costs incurred by a coal mining company for meeting the requirements of the Federal Coal Mine Health and Safety Act of 1969 is discussed. For clarity, the data is presented on a "before and after" basis, with special emphasis on safety records, costs, and production performance. The cost figures have been subjected to outside verification.

Jan 1, 1975

NAME AND OBJECT. SEc. 1. This Institute is incorporated under the Membership Corporations law of the State of New York ; its corporate name is American Institute of Mining Engineers; and its objects are such as are stated in its Certificate of Incorporation. ARTICLE II. MEMBERS. SEC. 1. The membership of the Institute shall comprise four classes, namely 1. Members ; 2. Honorary Members ; 3. Associates ; 4. Junior Members. All members shall be equally entitled to the privileges of membership, except¬ing that Honorary Members, Junior Members, and Members and Associates whose residences shall be outside of the United States, Mexico, and Canada shall not be entitled to vote. Members and Associates residing within the United States of America, Mexico, and Canada, and not in arrears for dues, shall be entitled to vote in person at the meetings of the Institute, or, as hereinafter provided for, by letter ballot. SEC. 2. The following classes of persons shall be eligible for membership in the Institute, namely : as Members, all professional mining . engineers, geologists, metallurgists, or chemists, and all persons actively engaged in mining and metal¬lurgical engineering, geology, or chemistry ; as Associates, all persons desirous of being connected with the Institute who in the opinion of the Board of Directors are suitable.

Jan 1, 1917

"The greatest mining center in the state of Utah is the incorporated town of Bingham about twenty-five miles southwest of Salt Lake City. The principal industry of this vicinity, prior to the early fall of 1 863, was lumbering and the first saw-mill in the state was built near the mouth of Bingham Canyon. Early in the fall of that year, George B. Ogilvie discovered gold and shortly afterward the first mining district in the state was organized. Some writers place the discovery of gold in the canyon in the late fifties. If this be so, however, the matter was kept extremely quiet because no mining was engaged in until after Ogilvie's discovery.Bingham was a placer mining camp, producing about one million dollars' worth of dust and nuggets from placers up and down the canyon and in Bear Gulch until early in the seventies, or about ten years after the discovery of gold, when a large body of argentiferous lead ore was discovered and soon after heavy shipments were made from a half dozen or more properties.In 1 8 74, A. H. and George L. Bemis erected the first concentrating plant in the state for the treatment of sulphide lead ores.The history of the camp as a producer of copper begins in the summer of 1 88 7, when Enos A. Wall noticed, in observing prospecting drifts and inclines driven some years before, the discoloration caused by the coppery solution. As a large part of the adjacent ground had been abandoned, he located two claims, which he called the ""Dick Mackintosh"" and the ""Charles Reid,"" after two of his friends.Late in 1896, the Highland Boy Mine produced sulphide ore rich in copper, causing a revival of interest in the copper potentialities of the camp, and during the next seven years a number of new claims were located ."

Jan 1, 1925

By Aziza A. Yousef, Suzan S. Ibrahim, Mahmoud A. Arafa, Mohamed A. Abdel Khalek

In view of the shortage of soft water all over the Middle East countries, seawater may be used to replace the fresh water in flotation beneficiation. The flotation process required about 7 m3 of fresh water/ ton ore. This article aimed to study the effect of seawater cations and anions on the flotation process of four important mineral commodities. The adsorption of collector, zeta-potential, zero point of charge and floatability of pure minerals were studied. The individual effects of different cations and anions that are predominant in seawater, within their more or less actual concentrations were studied on individual mineral and on groups of them. The troublesome Ca2+ and Mg2+ ions, in the anionic circuit could be controlled by soda ash addition to the pulp before the anionic collector. The addition of sodium silicate improved the floatation selectivity of mineral mixtures and natural ore. At the optimum conditions the calcareous phosphate ore yielded a concentrate recovery of 83% with a grade of 34% P2O5, with 0.61%MgO, which from an ore assaying (25.3% P2O5 and 9.4% MgO).

Jan 1, 2003

By Charles C. Hawes

DETERMINATION OF SILICA OXIDE iron ores usually are found in intimate association with silica and phosphorus compounds. Their quantitative separation and purification sometimes present difficult problems to the chemist. Silicic acids may represent various degrees of dehydration. They are exceedingly weak, but combine with metallic acids and form some of the most stable oxides in nature, the silicates. When iron ores are treated with hydrochloric acid, they yield practically all their iron. However, apart from rare exceptions, varying amounts of insoluble residues of silica, alumina, lime, magnesia and compounds of phosphorus, sulphur, titanium, chromium and others will be left. If the oxides of silicon, aluminum and titanium are present in small quantities, the insoluble residue is generally very small, but the presence of these oxides more usual in larger quantities. Therefore, only a special treatment can break the bond between these elements. Ore Residues Acids remove the soluble constituent of the ore, leaving the insoluble residue, which chemically is rock or gangue and must be treated accordingly. Alkali carbonates are used frequently to break up the residue, but other fluxes have also been recommended, such as a number of lead and boron salts. The introduction of these salts, which offers certain advantages, requires, however, their removal before the other constituents can be analyzed, and this elimination is sometimes difficult. Usually in quantitative analysis silicates are dissociated by fusing them in a platinum crucible with sodium carbonate, thereby forming sodium silicate, Na2SiO3, sodium aluminate, Na2A1204, sodium titanate, Na2TiOs, and carbonates of other elements. All the carbonates are soluble in hydrochloric acid, but also some silicic acid is formed that must be rendered insoluble. To this end the solution is evaporated several times, as the first evaporation still leaves as much as 5 per cent of the silica soluble. Even after a number of evaporations, minute quantities of silica may be found with the iron and alumina present. Perchloric Acid as an Agent for Dehydrating Silicic Acid Perchloric acid, HCI04, (60 per cent), has been used for years as a solvent, but few chemists have used it to dehydrate silica. It is derived from anhydrous perchloric C1207, which is most unstable and dangerous. Perchloric acid is a strong oxidizing agent, which boils at 203°C. It is more effective in rendering silica insoluble than any other known agent, and most rapid in action. After perchloric acid is added to a mixture containing silicic acid, the resultant solution is

Jan 1, 1945

Roof bolting has been widely used in hard rock underground mines for its many advantages. In this paper, the applicability of roof bolts to mine openings in frozen ground and effects of bolts on the stability of the openings are presented. A comprehensive finite element program ABAQUS, was used to analyze the temperature distribution, the stress field, and the displacement field around a mine opening. Openings supported by roof bolts and unsupported were analyzed. The thermal and mechanical processes were treated as a quasi-coupled problem, with the thermal analyses being conducted first, followed by the mechanical analyses in each case. For the opening under consideration with a roof area of 15 m2, five to seven roof bolts are appropriate. When the number of bolts are less than five, the displacement within the ground can be improved only locally.

Jan 1, 1995

By J. A. de Carvalho Junior

This paper analyses the impact of the uncertainty associated with the input parameters in a mine planning optimization model. A real example was considered to aid in the building of a mathematical model that represents the coal production process with reference to the mining, processing, and marketing of coal. This model was optimized using the linear programming concept whereby the best solution was perturbed by the stochastic behaviuor of one of the main parameters involved in the production process. The analysis of the results obtained permitted an evaluation of the risk associated with the best solution due to the uncertainty in the input parameters.

Jan 1, 2012

By NA NONE

Jan 1, 1934

By O. T. Rämö, E. Suikkanen

Episyenites are sub-solidus, quartz-depleted alkali-feldspar-rich rocks. They form veins and lenticular bodies in granitoid rocks and migmatites in a late- to post-orogenic or anorogenic setting. Leaching of quartz is usually a response to a flux of weakly saline hydrothermal solution in circulation cells above cooling intrusions, where sufficient fluid-rock ratios and thermal gradients are achieved. Fluid Si-undersaturation is achieved by rapid cooling within the field of retrograde Si solubility or by temperature and pressure increase outside retrograde conditions. Some quartz may also be consumed in metasomatic reactions and in response to pressure fluctuation in sealed episyenite bodies. The small size and overall rarity of episyenites imply that conditions for episyenite formation are not commonly encountered in the crust. In addition to quartz depletion, episyenites record complex histories of metasomatic alteration and hydrothermal mineral growth. Nearly all episyenites have undergone Na-metasomatism, which may have led to the formation of nearly monomineralic albitite, and which is occasionally followed by late K-metasomatism, phyllic alteration, and argillization. Depending on the effectiveness of later compaction, recrystallization and vug-filling episyenites may preserve the macroscopic porosity formed by quartz dissolution and brittle deformation. Vuggy episyenites can act as significant sinks for metals carried by crustal fluids and host many significant U, Sn, and Au deposits worldwide. Rare earth-critical syenitic fenites around alkaline intrusions share mineralogical and genetic traits with episyenites.

By Ray Everson, Henry Kasaini

"Adsorption of Pd (II) anions on the surface of activated carbon (Norit 0.8) occurred at high proton concentration (0.01 – 2.5M, HCl) in the feed and averaged 27 mg/g. The adsorption process was interpreted in terms of surface ionisation and adsorption model. Enthalpy of adsorption averaged 0.4 kJ/mole indicative of an instantaneous physical adsorption process. We found that the Toth isotherm fit the adsorption data fairly accurately. A combination of the Langmuir and Freundlich equations yields an effective three-parameter Toth equation (1) which is frequently used to describe adsorption on heterogeneous surfaces.Figure 1 shows the comparison between experimental results and the model isotherms. We found that Langmuir isotherms underestimated the adsorption capacity on the porous surface while the Freundlich isotherm overestimated adsorption. Furthermore, the surface coverage at equilibrium was well described by both the Langmuir and Toth isotherms. But, Freundlich isotherm predicted a surface fraction coverage that was higher than unit. Based on better prediction of surface coverage and a reasonable fit to adsorption data, we concluded that the Toth isotherm best described the adsorption data of palladium. The adsorption process was limited by mass transfer resistance through the external film. We estimated the rate constant from equation (2), where e, ?b, and rp are porosity, fluid density and particle radius, respectively"

Jan 1, 2003

By S. Pastor, S. Hahn

"As the concept of autonomous haulage systems (AHS) moves from prototypes to production-ready applications, the operating performance of the haul road will become critical to the overall success of autonomy in mining. Deterioration in road performance will require remediation, human intervention and significant, albeit temporary, changes to operating procedures, to accommodate road maintenance. With autonomous trucks comes the opportunity to reduce road formation and operating width. This will, therefore, generate potentially significant reductions in stripping ratios and improvements to mine economics, but only if the design of the road, and its associated deterioration rate, is predictable and manageable, based on the materials used to construct the road and the maintenance interventions to be carried out on the road.This article presents the assessment of a digital photogrammetric approach to the characterization of a mine haul road surfacing, or wearing course material. Design and maintenance parameters for these roads are currently determined partly from physical particle size distribution (PSD) assessments of ‘in-road’ material. However, this approach does not accommodate the need, nor leverage the benefits from, AHS. The digital imaging approach is assessed in this article, using two standard digital analysis software tools, together with in-service mine haul road wearing course samples and images that are analyzed to determine the applicability and reliability of the approach to deliver a real-time assessment of haul road surfacing conditions and thus to identify the road maintenance interventions required to address deterioration.Enhancements in mine road design, construction and management for the past 20 or more years has largely been focused on short-term tactical needs. These improvements have not been matched by advances in the fundamental technologies that underpin mine road design and management and, although the quality of mine roads have probably"

Jan 1, 2015

By P. Chris Pistorius, Johannes Sono, Rossouw Sono, J. J. Kobus

Different coal properties are important in SL/RN (coal-based rotary kiln) direct reduction of iron ore, and in electrical smelting of prereduced iron ore. These differences were highlighted when a plant which processes titaniferous magnetite had to change to different coal types after decades of operation. Laboratory simulation was used to evaluate two candidate coals, which were similar in volatile content and rank, but differed in reactive maceral content. Direct reduction was evaluated by isothermal experiments using a packed bed of ore and coal, measuring the off-gas composition to determine reaction rates and departure from equilibrium. These indicated reduction to be under mixed control, and quite sensitive to temperature (confirming that the coal reactivity is of importance). An aspect of electrical smelting was assessed by determining dissolution rates of the coal in molten iron at 1550°C. Dissolution rates did correlate with differences in coal structure, as determined by X-ray diffraction, with the more ordered ("more crystalline") coal dissolving faster. The conclusion is that the coal which is more reactive during direct reduction is less reactive during dissolution. However, it is concluded that controlling the temperature during direct reduction offers a feasible method to reconcile the two process steps.

Jan 1, 2003

Apr. 26-May 11, Liege International Fair, Liege, Belgium. May 4-8, Electrochemical Society, Inc., Spring meeting, Benjamin Franklin Hotel, Philadelphia. May 5-6, National Air Pollution Symposium, Huntington Hotel, Pasadena. May 5-7, American. Mining Congress, coal convention, Netherland Plaza Hotel, Cincinnati. May 6-9, Scientific Apparatus Makers Assn., annual meeting, Edgewater Beach Hotel, Chicago. May 9-10, AIME, joint meeting, Industrial Minerals Div. and Metals Branch, Davenport Hotel, Spokane, Wash. May 11-14, American Institute of Chemical Engineers, Atlanta Biltmore Hotel, Atlanta. May 17, AIME, Chicago Section, President's night dinner dance, Shoreland Hotel, Chicago. May 27, AIME, Morenci Subsection, Longfellow Inn, Morenci, Ariz. June 2-4, Chemical Institute of Canada, annual conference, Montreal. June 4-14, Mechanical Handling Exhibition and Convention, Olympia, London.

Jan 1, 1952

By David Dreisinger

"The leaching of base and precious metal ores and concentrates continues to progress in both laboratory study and industrial application. These developments are being driven by the need to respond to difficult ores and concentrates that are not amenable to conventional treatment. In many cases alternatives are being developed to conventional treatment (e.g. Pyrometallurgy) for technical and economic reasons.In this paper, a brief general review of some new developments in leaching will be followed by a more detailed explanation of three process developments that have either been industrially applied or are expected to be applied in a short time frame. The three processes to be reviewed in detail are the Mt. Gordon Copper Process, the Anglo American Corporation/University of British Columbia Copper Process and the PLATSOL Process. These leaching processes operate at low (90°C), medium (150°C) and high (220°C) temperature and are successful in quickly and completely extracting metal values from ores and concentrates."

Jan 1, 2003

T. L. Joseph (University of Minnesota, Minneapolis, Minn.)—Mr. Killian is to be commended for his inquiry as to why a decrease of 15.3 pct in coke consumption was accompanied by a decrease of only 1.9 pct in the CO/CO, ratio of the top gas. Although I encouraged him in his efforts to find a more significant and meaningful carbon-gas ratio, the method, calculations, and conclusions originated entirely with the author. Whether we agree entirely with the assumptions underlying his corrected ratio, I think we can all agree that a better ratio is needed, and that he deserves credit for recognizing the need and for doing something about it. To be most useful, the CO/CO, ratio for the top gas should reflect the way in which the carbon is gasified in the furnace, particularly the degree of oxidation and the extent of heat release. The effect of CO, from the decomposition of the limestone and the effect of the reaction of CO and water vapor in the upper part of the furnace on the quality of top gas should be isolated from the effect of more basic reactions such as ore reduction and solution loss. The reduction of sufficient iron oxide to produce a ton of pig iron and the accompanying changes in the proportions of the carbon gases can be expressed on a mol basis as follows: 16.5FeA + 16.5CO - 33FeO + 16.5CO, [1] 33FeO + 33.0CO = 33Fe + 33CO. [2] The CO, from eq 1 normally escapes from the furnace because it does not react with coke at the temperature of its release. However, as much as 50 pct of the CO, from eq 2 may react with coke because it is released at temperatures above 1000°C: 16.5CO. + 16.5CO2 = 33CO [3] Thus we see that the gasification of 16.5 mols or about 200 lb of C in solution loss will regenerate as much CO as is required for the last stage of reduction. The pronounced effect of reaction 3 on the final proportions of CO and CO, in the gas stream is obvious. It also follows that reaction 3 materially alters the heat release but it cannot be entirely eliminated in Lake ore practice. A previous study indicates that 100 lb of solution loss may be necessary to maintain the reducing power of the gas. A reduction of 100 lb from the normal level of 200 lb would mean that over 1,-000,000 additional Btu are released in the process. The 100 lb of additional carbon which will be burned at the tuyeres will release 437,000 Btu and the absorption of 583,000 Btu by eq 3 would be prevented. One of the chief objectives of sized ore burdens and more uniform distribution of the gas stream is to minimize solution loss by completing reduction higher in the furnace and in turn to release the maximum amount of heat from the carbon charged. It was odd, indeed, to find that the use of sized ore and sinter in the careful tests reported by Dobscha had changed the CO/CO2 ratio very little. The author has stressed the close correlation between his corrected CO/CO, ratio and production. A correlation of fuel consumption and the CO/CO, might be more logical. Fuel consumption on the prepared ore burden decreased 15.3 pct whereas the corrected CO/CO2 ratio decreased 19.0 pct. Although this agreement between the reduction in fuel and the reduction in corrected CO/CO2 ratio is not as close as the correlation with tonnage, it indicates the corrected ratio is superior to the normal ratio which decreased less than 4 pct. Some adjustment should be made for the reaction: CO + H2O = CO2 + H2 —700Btu [41 because there is evidence to indicate that about one half of the hydrogen is formed in the upper 21 ft of

Jan 1, 1953

Discussion of a paper of S. S. Rummy and W. F. SCHWEDES, presented at the Pittsburgh meeting, October, 1914, and printed in Bulletin No. 94, October, 1914, pp. 2613 to 2635. K. A. PAULY, Schenectady, N. Y.-I have seen this installation and I wish all those interested in the question of electricity as a mine pumping agent could see it. It is not only a model for mine installation, but might well serve as a model for any electrically driven pumping plant. I think I am correct in saying that the pumps are the largest electrically operated centrifugal pumps in mine service in America. I talked with Mr. Rumsey in Duluth just before coming here, and he told me that the actual tests of the equipment as installed checked very closely with the shop tests; that the water delivered by the pumps was slightly in excess of the guarantee, something like 3 or 4 per cent., and that no troubles except of a very minor nature had been experienced with the installation from the start. One point which has been brought out by Mr. Rumsey, and by others who have looked into this question, is the marked saving which' can be made by the application of electricity to pumps, especially to the main sump pumps. The pumps are always located a long distance from the boiler plant and the losses in the steam mains are large. While many of the steam pumps are of a very high grade, yet the tests seemed to indicate that the steam consumption is extremely large. The reduction in operating cost of one small installation which I. have in mind pumping against a head of approximately 2,000 ft.-which by the way was a reciprocating pump-reduced the pumping cost to the neighborhood of one-fifth of the previous steam cost. . The high steam cost was probably due to leakage in the engine and the loss in transmission in the mine, the pumps being located almost half a, mile from the boiler plant.

Jan 4, 1915

By Rodney J. Hundermark, Sharif Jahanshahi, Shouyi Sun

"The major platinum producers in South Africa make use of electric furnaces for the melting of platinum group metal (PGM) bearing nickel – copper concentrates. To gain better understanding of the furnace operation, research was conducted at CSIRO Minerals in Melbourne, Australia. One aspect of the research project was the investigation of the factors affecting the electrical conductivity of melter type slags.Electrical conduction in slags can occur through two mechanisms: ionic and electronic. There is good understanding of the ionic mechanism. In slags containing high levels of iron, the dominant mechanism is electronic as a result of charge hopping (electrons or holes) between ferric and ferrous ions. There is limited understanding of the electronic mechanism and one of the aims of the research was to investigate this mechanism further.Experimental work was carried out at 1450 °C on Al2O3–CaO–FeOx–MgO–SiO2 slags similar in composition to the melter slags (typical composition range (wt%): Al2O3: 5, CaO: 5-15, FeOx: 10-30, MgO: 15-25, SiO2: 40-60). The approach was to vary the oxidation state of three different basicity slags and measure the conductivity response. The slags had molar (CaO+MgO)/(Al2O3+SiO2) ratios of 0.43, 0.64 and 0.94 and FeOx contents of up to 40wt%. A twoelectrode technique was employed with a shallow layer of slag contained in a magnesia crucible. The small amount of slag facilitated relatively quick equilibration (up to one hour) with the gas atmosphere. Experiments were typically started in air and sequentially reduced using different ratios of CO and CO2 gases.Conductivity increased with increasing basicity and increased significantly with iron oxide content. Above 20wt% FeOx, electronic conduction was significant and the conductivity varied with the oxidation state of the slag. The typical response of the conductivity to the change in oxidation state was the following: starting in air, as the slags became more reduced, the electrical conductivity increased to a maximum at around pO2 = 10-7 to 10-4 atm and then decreased with further reduction. The value of the pO2 at which the maximum occurred was dependent on the total iron oxide content and basicity of the slag. The magnitude of the conductivity of the slags increased with increasing FeOx content in a range of 20 to 170 S/m for 20 to 40wt% FeOx. For a given FeOx content in the slags, the oxidation state dependence of the conductivity varied with slag basicity. The trend observed was that the maximum in the conductivity occurred at higher oxygen partial pressures for the lower basicity slags."

Jan 1, 2003

The October meeting of the Mining and Geological Society, Lehigh University, was held in the Eckley B. Coxe Mining Laboratory, and was called to order at 8:15 p. m., by President R. L. McCann. After the reading of the minutes of the previous meeting, a short business session was held, for the purpose of electing a Vice-President to succeed G. S. Borden, who has left college. Nominees for the office were: H. J. Sloman, P. S. Justice, L. Sargeant. Dr. F. F. Hintze, of the Geology Department, was elected a member of the Advisory Committee, which now consists of the President-

Jan 12, 1916

SEC. 1. This Institute is incorporated under the Membership Corporations law of the State of New York; its corporate name is American Institute of Mining and Metallurgical Engineers, Inc.; and its abbreviated title A. I. M. E. SEC. 2. The objects of this Institute, as set forth in its certificate of incorporation, are: "To promote the arts and sciences connected with the economic production of the useful minerals and metals, and the welfare of those employed in these industries by all lawful means; to hold meetings for social intercourse and the reading and discussion of professional papers, and to circulate by means of publications among its members the information thus obtained, and to establish and maintain a place for meeting of its members, and a hall for the reading of papers and delivery of addresses, and a library of books relating to subjects cognate to the sciences and arts of mining and metallurgy."

Jan 1, 1934