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By José Claro

El presente texto señala algunos aspectos respecto al financiamiento de inversiones en la minería. Para ello, se revisa las condiciones adecuadas para la comercialización de su producto a través de tres premisas: La primera, refiere los préstamos otorgados por los gobiernos de países desarrollados y sus agencias financieras para nuevas producciones mineras; la segunda, considera los préstamos de futuros compradores como una fuente importante de financiamiento y la tercera, refiere a los bancos comerciales, cuyos préstamos permiten mayor agilidad en su utilización, aunque es cada vez más dificil encontrarlos a tipos de interés y plazos adecuados. Asimismo, otra modalidad frecuente en el caso de financiamiento, es que la misma empresa minera o sus accionistas intervengan en la capitalización de la nueva empresa minera a través de préstamos o cuasi capital, de forma que se recupere la inversión a través del pago de préstamos e intereses, en lugar de recibir las utilidades en forma de dividendos sujetos a impuestos.

Mar 1, 1971

By Jorge Vargas Fernández

El presente artículo describe la relación entre la cultura y los recursos mineros a través del tiempo y las acciones para mantener dicha relación, dada la importancia que tiene para el desarrollo y seguridad del Perú.

Mar 1, 1971

By Maurice Allais

El presente texto señala la importancia de la investigación en la formación económica del ingeniero donde el cálculo económico es la base de la enseñanza de las grandes escuelas. En este sentido, es importante conocer la teoría de los óptimos económicos, la teoría del rendimiento social o teoría de la eficiencia. Asimismo, debe mostrarse el significado del precio, los cálculos de rentabilidad, la teoría del riesgo (probabilidad) y las decisiones que incluyan elementos aleatorios.

Mar 1, 1971

By Robert Head

El presente texto señala las probables tendencias de la industria cuprífera a lo largo de esta década, donde los pronósticos de una parte se basan en los hechos y datos del pasado, tanto de producción como de consumo. En cuanto la producción futura, ésta se basa sobre disminuciones en minas cuyas reservas se agotan, incrementos de minas en plena vida y minas nuevas o probables que serán llevadas a la producción a través de la década. Como consecuencia de esta posición de adecuado abastecimiento la tendencia a investigar por materiales en sustitución del cobre puede ser reducida. Asimismo, la nueva de producción vendrá de minas más grandes, de baja ley que necesitarán grandes inversiones de capital.

Mar 1, 1971

By J. P. Coetzee

Dr. K. Gebhard In his excellent and comprehensive survey on the future development of the Iron and Steel Industry in South Africa, Mr. Coetzee has also mentioned the direct reduction processes as a possible method of converting iron ore to iron. Mr. Coetzee has made it quite clear that at this stage one should not consider these processes as a 'magic formula' which herald a 'break through'. I agree entirely with this point of view. Once upon a time I held the opposite view, but in the meantime I have revised my views. To do so, I had 40 years at my disposal. In 1930 I had the privilege of being connected with the first commercial sponge iron plant in Germany1 - a plant which was capable of producing 40 tons of sponge iron a day. We were determined to prove that the blast furnace would become obsolete in the near future. We considered it as an unnecessary detour to convert iron ore first into an iron-carbon alloy, which contained further quite a number of undesirable elements, and to remove this carbon by an endothermic process. Direct iron-making seemed to be a logical short cut. Unfortunately, we were not able to establish this 'short cut,', but the life of our sponge iron plant was cut short. We had solved all technical but not the economic problems. Basically the positon is still the same today - mainly economic and to a lesser degree technological aspects determine the rate at which sponge iron plants are installed. More has been said and written than done about direct reduction plants. I think that there are two main reasons for this stagnation in the introduction of direct reduction processes. The first reason is that modern blast furnaces are just too good and too economic ever to be replaced by direct reduction processes on a large scale. This, of course, already limits the field of application for direct reduction plants. The second reason is that sponge iron production and utilisation is based on technical considerations, which increase not only the production cost of sponge iron but also the conversion cost to steel to such an extent that under special conditions only are direct reduction plants an economic proposition. Are these technical considerations still as forceful and valid today as they were when 'direct steelmaking' was first contemplated? The development of sponge iron production as a method of direct

Jan 3, 1971

By Jonas Svensson

A new method is described for the production of cold-bonded pellets using a hydraulic binder, such as portland cement. Large-scale pilot-plant tests have proved that self-fluxing pellets of high reducibility and good handling strength can be made by the method. Blast-furnace trials have shown that the pellets are an acceptable burden material, comparable with self-fluxing sinter or heat-hardened pellets. Economic factors of commercial-scale production are discussed. The Grangcold Pellet Process—for which patents have been applied or already granted in a number of coun-tries—uses a hydraulic adhesive such as portland cement, slag cements, pozzolanic cements, etc., for the production of cold-bonded pellets. The idea of using a hydraulic binder for the agglomeration of iron-ore fines is not new. Portland cement was proposed as an adhesive for cold-bonded iron-ore briquettes in patents granted more than 50 years ago.' In a report on the briquetting of iron-ore fines, published in Stahl und Eisen in 1959; it is stated that briquettes bonded with portland cement are used on a small scale at an ironwork in Germany. According to the report, the briquettes showed excellent strength in the blast furnace although their general use was made impossible because they required a long hardening time, during which they are sticky, soft, and difficult to store and handle. The Grangcold Pellet Process has overcome this particular disadvantage by mixing the balls with a suitable amount of the balling concentrate before storing them. The pellets are embedded in the concentrated during storing in such a way that they are isolated from each other and thus prevented from sticking together to form clusters. Thanks to the embedding concentrate, the pellets are subjected to a more or less uniform pressure from all sides which does not deform them. Thus, the mixture can be stored in a stockpile or in a bin until the pellets have hardened sufficiently. The concentrate is separated from the pellets by means of screening. The concentrate is returned to the balling operation and the pellets are either shipped to the blast furnace or stored for final hardening. The binder preferred for the Grangcold Pellett Process is portland-cement clinker, ground without the admixture of gypsum in order to avoid sulfur in the pellets as far as possible. Usually a 10% binder content is used. Two-thirds of the portland-cement clinker consist of lime and the rest is silica, alumina, and ferric oxide. Thus, self-fluxing or overbasic pellets are produced with this binder if the amount of silica in the concentrate used does not exceed 4%. The Grangcold Pellet Process was developed by the mineral Processing Laboratory of the Granges Co. Work started in 1963 with batch-scale tests. In 1966, a small pilot plant was put into operation in which 1800 tons of pellets were produced using 10% of rapid-hardening portland cement as a binder. Favorable results from a blast-furnace test with this batch led to the decision to erect a larger pilot plant which went into production in the summer of 1967. Since then, approximately 100,000 tons of cold-bonded pellets have been produced, mostly with 10% gypsum-free portland cement as a binder. Several full-scale blast-furnace trials have been performed with the pellets. The results of the trials indicate that the Grangcold pellets constitute a satisfactory blast-furnace feed. An industrial plant for the production of Grangcold pellets with a rated capacity of 1.5 million tpy is now under construction at the Granges Co.'s mine at Grangesberg. The plant will come into operation in the summer of 1970. Results from Laboratory Work Pellets made from iron-ore concentrate bonded with portland cement harden slowly and their handling is very critical until they have hardened enough to loose their stickiness. It is therefore especially important to study the progress of the hardening action and the factors influencing it. This is best achieved by investigating the relationship between the compressive strength of the cement-bonded pellets and the curing time under varied conditions. The general course of this relation-

Jan 1, 1971

By Richard N. Spencer

This report describes investigations of the economic merits of multiple zone mining and beneficiation versus selective mining of altered Western phosphate rock. The same deposit was considered in both instances and it was assumed that the grade of selectively mined ore was comparable to the grade of the concentrate from beneficiation. The beneficiating scheme used for the investigation was one proved by small continuous circuit operation. All economic factors were found to favor multiple zone mining plus beneficiation. Capital requirements and production costs were lower, and production life of the deposit was extended 4.5 times. The concentrate from beneficiation would be a uniform high-quality feed for acidulation and would be low in stable metallic oxide (R203) content. Such a feed would permit improved plant operating control, and the low R203 would promote more rapid filtration and minimize sludge formation in the phosphoric acid. With the proposed treatment, the concentrate produced by flotation from this deposit would cost about 1.5 times as much per ton as the concentrate produced by classification sizing. Therefore, inclusion of a flotation step in treatment schemes requires an economic analysis for each ore deposit.

Jan 1, 1971

By Thomas J. Wright

The evaluation and development of the Eastern North Carolina phosphate deposit resulted in one of the world's largest and most modern phosphate mines and fertilizer complexes at an investment in excess of $90,000,000. The resulting ore beneficiation process showed excellent correlation with pilot plant data. A number of variations from current industrial practices were introduced and projected from bench scale tests through pilot plant to production. Principal among these variations were the following: 1) removal of magnesium by classification, 2) simultaneous flotation of coarse and fine phosphate, 3) the use of saponified fatty acid, 4) utilization of filter wash water for deoiling, 5) utilization of a rougher concentrate for acidulation, 6) calcination of flotation concentrates, and 7) elimination of grinding prior to the manufacture of phosphoric acid.

Jan 1, 1971

By Walter H. Ortel, George B. Wallace

INTRODUCTION A greater understanding is required about the factors which control tunneling operations if we are to meet the expected demand for tunnels. Much of the needed information can best be achieved by the proper use of instrumentation and advanced engineering concepts. Tunnel measurements and their analysis may prove to be the key which will give the insight necessary to understand the relationship of rock, tunnel supports, and linings. There are three main areas which can be improved through the use of tunnel instrumentation. First, and of prime importance, is safety for men and the project. When unstable conditions occur, sets become distorted. Even without measurements, it is sometimes possible to tell when trouble is approaching. In effect, the set acts as a load cell. Distortions in the set indicate reinforcements may be required to maintain stability. Additional sets or rock bolts, if they are placed soon enough, may provide this stability. However, when large rock displacements occur in short periods of time, it could be too late. Figure 1 is an example of the difficulties encountered in stopping moving rock. To stop the movement and possible failure, large props were placed above the spring line and the massive concrete gravity buttress was constructed along the legs. Rock bolts from the buttress deep into the rock were also used in an attempt to stabilize the rock mass. However, this work is for a highway tunnel and eventually these props and buttresses must be removed.

Jan 1, 1971

By J. W. Town

The Bureau of Mines studied the effects of reducing gas composition, tem-perature, and superficial gas velocity on the regeneration rate of alkalized alumina. Regeneration was assumed to follow the simple first order reaction for removal of sorbed S02: dµ/dt = -Kµ. An Arrhenius relationship can be plotted, which shows an activation energy of about 75 kcal/mole for simulated reformed propane. The general effects of the individual gases can be described as follows: (1) CO and H2 produced rates proportional to their con-centrations, up to about 5 percent for each; (2) addition of CO2 had no effects on the regeneration rate by CO; (3) the regeneration rate by H2 was lowered by the addition of H2O while the regeneration rate by CO was increased by 0 addition; (4) H2S showed a positive effect up to concentration levels of about 2 percent and then produced a rapid negative effect; (5) carbonyl sulfate (COS) increased the sulfur content; and (6) propane was as effective in regenerating the loaded pellets as was simulated reformed propane.

Jan 1, 1971

By A. B. Parsons

Jan 1, 1971

This paper gives the background to the development of solvent extraction processes for the recovery of metals from aqueous solutions. Its growing importance in Australia for the recovery of both uranium and copper is dis- cussed, as well as the developments in mixer-settler design as applied to recent plants. The economic significance of solvent extraction as an alterna- tive to cementation is discussed and important features of each process are highlighted by comparison of costs for each process in a hypothetical situa- Tion.

Jan 1, 1971

By K. P. V. Lei

An electrochemical process was developed for the preparation of vanadium from vanadium carbide. Commercially available vanadium carbide (V2C) was used as the starting material. Vanadium was obtained by electrolysis of the V2C in a BaCl2-KCl-NaCI-VCl2 electrolyte at 670° C using a helium-atmosphere, molten-salt electrolytic cell. Vanadium products were recovered with purities high as 99.6 percent. Current efficiencies of 87 percent and vanadium recoveries of 84 percent were attained. The cathode products were amenable to electrorefining to high-purity vanadium of 99.96-percent purity.

Jan 1, 1971

By Donald W. Gentry

In the mining industry, there are two widely accepted methods of determining the investment worth of a contemplated project. One of these is the payback method and the other is the more recent discounted cash flow (DCF) technique known as the internal rate of return. Both techniques can be useful, but it is important to know the assumptions and characteristics of each procedure and how these may affect an investment decision. The Payback Period-A Shortcut to Yes or No The payback period is simply the time it takes for the cash inflows from an investment to equal that investment. Understandably, projects with short payback periods are preferred to those with longer ones. The payback period may be measured either from the time the initial investment is made or from the time that it begins to yield positive cash flows, but the latter approach is more realistic because it permits more accurate allowance for lost interest on the invested capital.

Jan 1, 1971

By Bruce A. Kennedy

If it had not been for the persistent cold wind, the sun blazing out of a cloudless blue sky would have made it one of those warm, idyllic early spring days which attract the socalled "snowbirds" to Northern Mexico for a vacation at this time of year. At a drill site perched on top of a rather exposed mountain we were installing a number of borehole extensometers in diamond drill holes. A Threading Problem For the uninitiated in geotechnical instrumentation, a borehole extensometer is a series of anchors installed at various depths in a borehole, each anchor being independently connected by a tensioned wire to a measuring device set in the collar of the hole. Any movement of the rock at depth is detected by the anchors and transmitted by the wires to the measuring device. Flexible plastic tubing is used as a spacer between the anchors and the measuring wires are run up the inside of the tube. At this particular site we were installing an instrument string nearly 1000 ft in length. Threading wire only 0.041 in. in diam through 1000 ft of plastic pipe is almost as difficult as getting the proverbial camel through the eye of a needle.

Jan 1, 1971

By K Firmin

The Mt Tom Price orebody of Hamersley Iron Pty Limited consists of a folded hematite - shale sequence capped by a layer of goethite. Consequently, variations in iron content occur within the ore body, and as the overall grade is below that required to make specification products, selective mining must be carried out. A necessary preliminary to quality control of products based on selective mining is the production of advance data on the tonnages and grades of material to be expected in future mining areas. Bench plans showing zones of different grades and types of material anticipated are prepared from structural geological information. The grades of materials on a bench are essentially governed by the positions and attitudes of the shale bands. Quality control is exercised by blending different grades and types of material in primary crusher feed. Iron grade is the prime grade consideration although sometimes the level of phosphorus content must be considered. Pre-production grades are determined from assay of samples taken from blast hole cuttings. As shales are more friable than hematite, product fines are always lower in iron grade than the lump product. The realisation of contract specification grade is more difficult with fines than with lump, so maintaining the correct fines grade becomes a prime factor in quality control. Control of fines grade is presently effected by aiming for an appropriate feed grade to the primary stockpile. Studies to estimate fines grade directly by qualitatively taking into account material types are in progress. Quality control measures are checked by monitoring the crushing and screening plant output, and taking appropriate compensatory actions in the mine when required. Minor fluctuations in quality of fines can be blended out on stockpiles. The quality control measures described ensure constant quality products, and a good recovery of high grade material from the deposit.

Jan 1, 1971

The mIning operations of Bougainville Copper Pty. Limited are located at Panguna on the Island of Bougainville which is part of the Territory of Papua and New Guinea.C.R.A. Exploration Pty. Limited first established mineralization in the Panguna area in 1964. Exploration work since then has established ore reserves estimated to be 900,000,000 long tons of ore assaying 0·48 per cent copper and 0·36 dwt/ton gold. An economic feasibility study completed in July, 1969 enabled a decision to be made to proceed with a major mining operation. The ore will be mined by open cut methods and will be treated in a conventional concentrator with a nominal capacity of 90,000 short tons/day. The concentrate will be pnmped as a slurry through a 16 mile long pipeline to a port established on the east coast where it will be filtered and dried ready for export. Other supporting facilities for the mine include two towns, a 135 MW steam power station, and access roads.

Jan 1, 1971

By W. E. Roscoe

The probability of making an exploration discovery in Canada can be calculated from Derry's (1970) data on exploration expenditures and number of discoveries over the last nineteen years. Considering an average exploration "try" to be $30,000, the probability of a discovery with one try has decreased tenfold from about 0.01 in 1951 to 0.001 in 1969. A plot of these probabilities can be extrapolated to the future, giving a 1969-71 three-year average probability of 0.00096 with 90 per cent confidence limits of 0.00042 and 0.00153. Using this probability, various calculations can be made, such as (1) the probability of making at least one discovery for any given exploration expenditure, (2) the probability of ultimate ruin or survival of the exploration investment process and (3) the expected value of an exploration investment. There is a critical minimum amount per discovery that must be re-invested in exploration, no matter how large the original investment is, for exploration to survive at all in the long run. Currently, this critical minimum is $31,200,000 with 90 per cent confidence limits of $19,600,000 and $71,400,000.

Jan 1, 1971

By N. R. Paterson

"More than a dozen AEM systems are currently being used in the routine exploration for massive sulphides. The systems differ from one another in minor respects, but fall into four main categories: rigid-coupled in-phase/quadrature systems; towed-bird, single-component systems; differential systems; and passive systems.Although field tests are important in demonstrating the performance characteristics of the AEM/airframe assembly (noise-levels, coupling effects, etc.), more meaningful evaluations can be made through physical or computer modelling. The latter approach has been used to compare the response of twelve AEM systems to both vertical and horizontal sheets, simulating a large orebody and a con-ductive overburden respectively. The effects of height changes are also studied.The results demonstrate that each AEM system has its own particular advantages and disadvantages. The relative importance of these is a matter for the geophysicist to judge, on the basis of specific geological and environ-mental information. Data currently available on AEM systems are adequate to permit an objective evaluation of the systems for a particular exploration program."

Jan 1, 1971

By Joseph Yancik

El presente texto señala el método de evaluación que determine el sistema óptimo de los explosivos de una voladura. Los componentes básicos para una voladura óptima son: características de la roca, planificación de la mina, preparación, manipuleo, equipo de procesado y sistema de explosivos. Es preciso anotar que el punto óptimo de una voladura no está constituído por un grupo estático de condiciones. Si consideramos que los costos de perforación y disparo representan una parte significativa del costo total de la operación de minado, no es posible ignorar avances tecnológicos que ofrecen substanciales reducciones en el costo. Em este sentido, el sistema de potencia de campo, se plantea como el sistema adecuado para la predicción rendimiento de un explosivo a través de la determinación de su potencia, "in situ" bajo condiciones indicadas.

Jan 1, 1971