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By Michael Robert Hodson

I. Introduction The free market cash price of aluminium in the third quarter of 1985 is approximately $1000/tonne, well below the short as well as the long run marginal costs of production. The current disparity between marginal costs and price, as well as the pattern of prices since their high level in 1980, has led many economists to question whether prices are governed by the 'fundamentals'. Prices, some would argue, are the result of speculation; and speculation is irrational, little influenced by the fundamentals of the industry. The object of this paper is first to examine the relation between the fundamentals and price. A number of simple models are formulated and some empirical evidence is given to show that prices are not very different from costs. There are good reasons why costs and prices have fallen since 1980. Second, the connection is drawn between the fundamentals and speculation. To do this the concept of 'rational expectations' is defined and applied to a model of the aluminium industry. Then speculation is introduced into the model and the characteristics of the solution are examined. The object is to discover the new factors that determine prices and the basic change in the nature of the solution that is caused by speculation. 2. Prices and the Simple Supply-Demand Model Consider a simple model of the aluminium industry. Demand, D, is determined by economic activity, A, given exogenously, and inversely by the price, P. Supply, Q, is determined by the inverse of the rnarginal cost curve, and so varies inversely with exogenous factor costs, C, and directly with price. Price is determined by the equality of supply and demand. Given the equilibrium level of demand, price in this model is equal to the rnarginal cost of producing the required level of demand, P = MC (Dl. Algebraically, [ ] How well does this simple model explain the change in prices during the last five years? Table I shows the LME cash price and the estimated marginal cost of producing consumption during the second quarters of 1980 through 1985. The figures in the table show that price and the marginal cost of supplying demand both fell between 1980 and 1982, rose in 1983 and by 1985 had fallen again. Only in 1984 is the direction of change different. And during the 1980 to 1985 period, marginal costs fell by approximately $560/tonne while the LME cash price fell by $678/tonne. There is a correspondence between the fundamentals of cost and price over most of the individual years and the period as a whole.

Jan 1, 1986

By Mark W. DeLawyer

The base of the stone quarry still stands today, as imposing as any Mavan temple or Egyptian pyramid. For 80 years it has been a reminder to those who must sweat to earn a wage. There are no plaques to indicate its impressive history. Rather, it stands as a towering monument to the masons and stone cutters who built it-a testimony in stone to that most demanding and back-breaking of industries. Take your imagination back to the limestone quarries at Split Rock, near Syracuse, NY. The sound of an occasional steam drill and the mighty roar of a dynamite explosion herald progress. The ring and crash of a hundred sledge hammers are music in the calloused hands of the quarry men. It is a symphony of man against nature. Hundreds of sweat-soaked men break up the blue Onondaga limestone for the "sodi ash," the popular name for the quarry owner, the Solvay Process Co. Nearby, expert stone masons fit mammoth 454-kg (1,000-1b) blocks of cut stone into place, building the foundation for what may have been, back in 1902, the world's largest stone crusher. Consider for a moment, a modern stone quarry. The business is now essentially one of machine against nature. The shovels, drills, conveyors, and locomotives help make the quarry of today a profitable venture. Now consider the quarry of the early 20th Century. Anyway you look at it, a tougher, more demanding life would be difficult to imagine-12 hours a day, all kinds of weather, breaking up tons of rock that had been drilled, blasted, or pounded from the bowels of an uncooperative earth. Before proceeding, it might be prudent to briefly describe the history of the Split Rock quarries. Before the purchase of the quarry lands by the fledgling Solvay Process Co. in 1889, the quarries already had a reputation literally chiseled in stone. Most of the municipal buildings in Syracuse were made of it, as well as over half of the Erie Canal, including the engineering marvel of the time, the Montezuma Aqueduct. This was where the Canal passed not only through, but in some

Jan 11, 1982

By R. C. Emmett

In extractive metallurgy, separation of insoluble solids from solutions is an important economic factor in almost all flow- sheets. This separation step can employ sedimentation, filtration (vacuum and pressure), or centrifugation. Since practically all systems require a relatively complete separation, multiple unit, countercurrent thickeners or vacuum filters are generally used.

Jan 1, 1974

By M. K. Gangal, E. D. Dainty, G. Kunchur

This paper presents a validation of C02 as a single surrogate measurement for other diesel-emitted pollutants in multi-diesel-machine operations typical of small underground mines. This means that the simple measurement of C02 alone can be used to estimate the concentrations of other components of diesel exhaust in the mine environment. The linear relationship of C02 concentration with other diesel-emitted pollutants was indicated by the results of simultaneous real-time monitoring of C02 with CO, NO, NO2, SO2, Respirable Combustible Dust (RCD), and Air Quality Index (AQI) in several small underground mines. The SO2 was not directly measured but calculated from the measured C02 concentration and diesel fuel analysis for carbon, hydrogen and sulphur. The measurements were made in the return air drift under various mining conditions involving a number of diesel LHDs and haulage trucks. The statistical analysis and mathematical representation of the several components of diesel pollutants with C02 are presented. Regression analysis shows that at the 1 percent level of significance there is a strong linear relationship of these diesel pollutants with C02. This relationship is discussed in detail, concluding that C02 measurement alone is a good indicator of overall mine air quality and can be used as a control parameter.

Jan 1, 1991

Coal bursts are one of the least understood yet the most critical hazards in underground coal mines. The ground motions induced by seismic events can trigger unstable failure of coal and rock mass and degrade the surroundings of an excavation. Therefore, the characteristics of ground motions should be fully investigated for an improved burst risk management. This paper analyzes ground motion features of a longwall panel from a typical underground burst-prone coal mine in China. The results showed that most of the ground motions on roadways were hardly initiate coal bursts due to insignificant energy input to the damage. The intensity of ground motions in near-field zone were nearly 20 times higher than those in far-field zone. The strongest vibration on roadway was induced by a coal burst with energy of 28,600 kJ, which can cause ground motion of 0.77 m/s and equivalent dynamic stress of 14.69 MPa. The findings of this paper can improve the assessment of seismic risks and its management.

Jan 7, 2020

By R. J. Baumgartner

Sustainability issues are from rising interest and importance for the mineral industry worldwide. In order to bring them into management processes and to improve decision processes, economic, ecological and social aspects of products, services or technologies have to be assessed. In this paper, the concept of integrated sustainability assessment is presented. Each aspect is assessed with quantitative or qualitative methods. The results of these ecological, social and economic sub-assessments are integrated by the means of Fuzzy Logic in order to regard preferences of decision maker and circumstances of decision situation. An example demonstrates the application of this new instrument.

Jan 1, 2005

By D. A. Dahlstrom

Crushing and grinding consumes about 1.3% of the nations produced electrical energy.( Furthermore, only one in the first ten highest consumers comes from an industry other than mineral processing. This is the grinding of wheat to make flour. The other nine are all in the metallurgical industry and are easily the largest consumers.

Jan 1, 1988

By E. R. Slatick

The northern and central Appalachian coal basin in the eastern United States has been the source of about two-thirds of the nation's coal output during the 20th century. This region includes parts of Pennsylvania, Ohio, Maryland, West Virginia, Virginia and eastern Kentucky. It covers about 130,000 km2 (50,000 sq miles) of the Appalachian coal basin and ranks as one of the world's most important coal production regions (Fig. 1). The coal industry's heyday in northern and central Appalachia has passed. This was due to competition from other fuels and low-sulfur coal produced in the West and because of the declining use of coking coal for steelmaking. Nevertheless, the region still plays a vital role in US coal production. It currently produces about 40% by weight of the nation's coal (its share is about one-half when measured by the energy content of the coal), contributes substantially to electricity generation and serves as the mainstay of US coal exports.

Jan 1, 1995

By Mark A. White

Surface mining of multiple seams by mountaintop removal and contour mining is complex in Appalachia. Arch of West Virginia, a division of Apogee Coal, has made its operations state-of-the-art to cope with this challenge. Arch of West Virginia moved into the heart of coal mining in Appalachia when Arch Mineral acquired coal reserves and coal operations in the southern West Virginia counties of Logan and Wyoming. These reserves were initially developed at the turn of the century as underground operations. Today, though, they are mined using mountaintop removal and contour mining. The steep slopes in the mountains of Appalachia generated a method of mining referred to as contour mining. During the late 1960s and early 1970s, contour mining was introduced at these operations using front-end loaders with bucket capacities of more than 7 m3 (10 cu yd) that could load 45-t (50-ton) end-dump trucks.

Jan 1, 1995

A Mark IV surface force apparatus (SFA) was used to conduct direct force measurements between mica surfaces in dodecylamine hydrogen chloride collector solutions at varying pH levels. It was found that long-range hydrophobic forces reach a maximum at pH 9.5, which also corresponds to the maxima attained by the contact angle and flotation recovery of quartz. The charge densities are comparable on both mica and quartz surfaces (0.40 to 0.48 nm2), making it possible to draw conclusions on the flotation of quartz from the direct force measurements conducted on mica. Therefore, it may be suggested that, in the pH range of 8.0 to 10.3, the maximum flotation recovery of quartz may be attributed to the appearance of a long-range hydrophobic force, which, in turn, can be related to the formation of a close-packed monolayer (or hemimicelle) in the presence of neutral amines formed as a result of hydrolysis.

Jan 1, 1998

By D. Lelinski, R. Bokotko, J. D. Miller, J. Hupka

Air-sparged hydrocyclone (ASH) flotation is a new, promising technology, and, since its conception, numerous applications have been successfully tested. Nevertheless, research and development efforts have continued to improve the technology with respect to operating conditions and design considerations. Results, from experimental studies on bubble generation in the ASH system are presented in this paper. Bubble size distributions generated during ASH operation were determined using a high-speed photographic technique. The influence of many factors, including surfactant concentration, water flow rate, and porous-tube pore size have been studied. Test results indicate that these process variables have a profound effect on the bubble size distribution. With an increase in surfactant concentration or water flow rate (shear field), the bubble size distributions become narrower and shift toward smaller average bubble diameters. However, the influence of pore size is more complicated. Depending on the experimental conditions, the average bubble size was found to range from about 100 to 300 µm in diameter.

Jan 1, 1997

By Frank F. Aplan

Froth flotation has been used to improve the recovery of fine coal, for minimizing the sulfur and ash content of clean coal and for the removal of fine coal from recycled or discharged backwater from coal preparation plants. Though froth flotation and allied processes for ores date from the turn of the century, with the first U.S. commercial application in 1911, coal flotation has been introduced into U.S. practice much more slowly. The first European coal flotation plant was started in 1920, and by 1933 Europe had 60 operating plants while the United States had only one plant, newly commissioned. Over the years there has been a steady increase in coal flotation so that today one-third of the 345 U.S. plants employ the process. This report traces U.S. coal flotation practice and technological improvements from early laboratory experiments in 1915 up to today's extensive use of the process.

Jan 1, 1999

By G. Q. Huang, Q. X. Yun, Z. Y. Gui

This paper provides a new approach to deal with control of ore-rock excavation by means of the optimal control theory-an important branch in cybernetics. In the optimal control theory, the elementary functions are state-transition function and objective function. According to the characteristics of mining planning and production, a set of formulation are established to cope with ore- rock excavation. The formulations include basic formula, anti-disturbance formula as well as other special formula. The new approach has been successfully used in several mines of China.

Jan 1, 1996

By K. Nagata, T. Kawashima, S. Tejima

The expanding volume of maritime coal transportation is intensifying the problems concerning large vessel service, port construction, trans-shipment, and environmental control. The major problem is the shipment of coal. Customary methods for bulk transfer must be improved and new systems developed. Slurry unloading has a key role in the new systems. This report reviews progress in slurry transportation research that has been done in Japan since the 1960s, when large-scale experiments for domestic transportation were done. Experiments on the effects of vibration on the slurry cargo and on reslurrying are focused on.

Jan 1, 1987

By Carol Cox Russell

More than two thousand abandoned mines within the Animas watershed in Southwestern Colorado are being prioritized for remediation by the Animas River Stakeholders Group (ARSG). Phased collection and assessment of information progressed from large scale to site specific. Prioritization was based on existing or potential environmental impact and technical feasibility of remediation as measured by dissolved Cd, Cu, and/or Zn in the discharge; indicators of habitat degradation; aquatic life in streams; cumulative impacts at the point of compliance; cost effectiveness; treatiblity/feasibility; and cultural and historic preservation.

Jan 1, 2000

By W. H. B. Blackburn, D. M. S. Bhatia

Twenty-six in situ analyses of cubic galena crystals from a Mississippi Valley-type deposit were undertaken with a laser microprobe emission spectrograph to study the variation of nine trace elements from the crystal center to its periphery, both along the diagonal and vertical. The general trend is an outward increase in the concentrations of Ag, Ga, Ge and In, with As showing the opposite trend. Bi, Cd and Sn showed no discernable trends. Sb was not detected. These variation patterns may serve as a model for similar studies of other Mississippi Valley-type deposits.

Jan 1, 1987

By B. Denby

Recent advances in virtual reality (VR) have resulted in major opportunities for improving the safety training of mine workers, supervisors and managers. VR has the potential to expose mine personnel to hazardous situations in a safe, highly visual and interactive manner. Customized simulations of mine layouts, dynamic operations and mine environment can be set up, and mine personnel can be allowed to move around the virtual mine, making decisions at key points. The consequences of both correct and incorrect decisions can be immediately fed back to the trainee.

Jan 1, 2000

By Tim Brick, Peter Jewell, Stephen Thompson, Simon Morgan

The $980m (€750m) Dublin Port Tunnel, Europe’s biggest urban highway tunnel project, was opened in December 2006. The culmination of this immense scheme is set to transform the environment, mobility and road safety of Ireland’s capital city. This paper summarizes the key aspects of a project linking both sequential and parallel construction of individual tunnels and describes various approaches to bored, mined and pre-support cut-and-cover tunneling in a wide variety of ground types and depth of cover. Examples of innovative approaches to deal with structural and geotechnical problems while maintaining full operation of both road and rail traffic and the integrity of properties in a dense urban corridor are described.

Jan 1, 2007

By Carla L. Zenti

In recent years, considerable advances have taken place worldwide in the design and construction of first tunnel linings. With these advances, there is a tendency to move away from traditional support that includes heavy open profiles of rolled steel arches, to a lighter solution with the use of an optimized tubular steel cross section rib, and shotcrete reinforced with steel mesh and/or steel fibers, providing a continuous support (Lunardi, 1982). The development of tubular ribs has provided greater design options, increasing flexibility to engineers and contractors while providing a efficient and cost effective construction method. In this article, the authors describe numerical and experimental investigation on this problem, suggesting as a new first lining steel arch design approach by using tubular ribs cross section as new technical solution for first lining underground support.

Jan 1, 2012

By Steve Kral

Globalization was the key word for the mining industry during the 1990s, just as productivity was the key word of the 1980s. And globalization will remain the key word as the industry enters the 21st century, according to speakers at the Colorado MPD Meeting held in Colorado Springs, CO in May. The meeting, put on by the Colorado Section SME Minerals Processing Division, drew about 120 people to the Broadmoor Hotel. “Operating Globally” was the theme of the 49th annual conference. Speakers addressed the reasons why mining companies have limited their spending in the United States and have moved into Third World and developing nations.

Jan 1, 1999