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The Australian states of New South Wales (NSW) and Queensland, because of their endowment of black coal resources, dominate the production and export statistics for Australian coal. NSW produced 86 million tonnes of saleable coal in 1994, representing a doubling of output since 1980, or a growth of 5% per annum. Asian demand for thermal and coking coal has, of course, driven this growth in NSW. This high Asian demand is forecast to continue and NSW will seek to secure its share. This paper focuses on some of the issues facing NSW in the future, and in particular, examines some of the major new and proposed mining projects.

Jan 1, 1997

By M. Kalin, H. D. Sharma

INTRODUCTION The inactive uranium mill tailings investigated in this study are located in two mining districts, Elliot Lake and Bancroft, Ontario, Canada. The sites exhibit a mixture of surface features consisting of dry areas, with or without vegetation and areas covered with water. On the edges of the water bodies, indigenous vegetation has invaded the tailings beaches [ Typha] spp. (Tourn.) L. a dominant plant on these tailings beaches, has been studied for the uptake of radium-226 and lead-210 (Kalin and Sharma, 1981b) from the tailings. It was found that most of the radium-226 remains in the roots of the plants, and that the solubility of radium-226 in control soil differs from that in tailings. The uptake of radium226 by vegetation and other biota is related to the solubility of the element in water. Factors controlling the solubility of radium-226 in uranium mill tailings are of interest in assessing the environments effects of these wastes. Rusanova (1962) found that the soluble or extractable amount of radium from the soil is inversely related to the total concentration of calcium and magnesium in the soil. Experimental work has clarified some aspects of the leachability of radium from uranium mill tailings (Levins, et al., 1978; Wiles, 1978, and others). Halvik, et al., (1967) studied the effects of pH and chemical composition of surface water on the liberation of radium from uranium mill tailings and uranium ore. He found that an increase in pH, up to a value of pH 9, decreases the amount of radium released from the tailings and the ore. A positive effect of calcium chloride was noted on the leachability of radium. Benes (1981) reviewed the physicochemical forms of radium and its migration in water. Based on experimental work, he identifies primary factors which determine leaching of radium from uranium mill tailings. The ratio of the volume of the leaching solution to the weight of the leached sample; the composition of the leached solids and the leaching solution, and finally the pH of the leaching mixture are of importance. He emphasized that a scarcity of field data exists, which would relate experimental work to the actual situation in the tailings ponds. Inactive tailings ponds in Ontario are 16 to 23 years old, and processes which are of importance in evaluating the long term effects of uranium mill tailings in the environment can be studied. The objective of this work was to investigate the leachability of radium-226 from the tailings under field conditions. MATERIALS AND METHODS Sample Collection A description of inactive tailings sites in Ontario, where the tailings and the water for this study were collected, can be found in a report by Kalin (1981). [Typha] spp. specimens were excavated from 16 different locations along with the tailings attached to the roots of the plants. A tailings sample from the surface area, around the plant, was secured before the excavation. Tailings samples were also collected from dry areas free of vegetation in the vicinity of the wetland stand. Surface samples (depth 0-5 cm) and samples at a depth of 20-25 cm were secured. Water was collected from the shallow tailings beaches around the vegetation stands. Sample Preparation The roots of the plants were washed free of tailings with distilled water. The resulting thick slurry of tailings was allowed to settle in the wash basin for five minutes and the supernatant water was decanted. The remaining saturated tailings were brought to 400 ml volume with distilled water in a beaker. The slurry was mixed with a magnetic stirrer for two 24-hour periods. After the first 24-hours, the slurry was allowed to settle for 20 minutes and the supernatant water was removed. The remaining sediments were suspended again in distilled water (400 ml total mixture) and leached for a second 24hour period. The tailings slurries from the different locations had a solid to liquid ratio, which ranged from 0.5 to 1.4 grams of dry tailings material per millilitre. The variations in the ratios are the result of differing fractions of coarse and fine tailings on the sites. In the final leachates, the solid to liquid ratios of the samples were 0.17 (±0.1) g/ml. The pH of the surface water and the leachate was determined with an I.L. Portomatic pH meter. All the tailings samples were homogenized in a mortar and brought to dryness at 75 to 85°C. Approximately 0.5 g of tailings were

Jan 1, 1981

By Panagiotis Chryssanthakis

"The aim of this study is to give a better understanding for the performance of the composite material RRS and the synergy effect of its components under different stress regimes and while an excavation face advances during tunneling. The lower part of the Q-system scale (i.e. Q-values of 0.4 or less for a tunnel span of 10m) is commonly used for tunnel applications in softer rock formations. This is implied in the updated Q-chart, where the dimensioning of rock support by using Reinforced Ribs of Shotcrete (RRS) comprises the use of fiber reinforced shotcrete, S(fr), rock bolts and shotcreted beams reinforced with steel rebars. In this study, an effort has been made to simulate RRS in a numerical code and to study its behaviour in a real case study. A double tube, triple lane tunnel in weathered tuff has been chosen as reference material for testing RRS under changing load. A rather extensive parametric study has been run by using the same key input rock mass parameters and three different in situ stress regimes (sH/sv =2, sH/sv =1 and sH/sv =0.5). Changes have only been made to the RRS key input parameters in order to simulate the changing loads during the face excavation process in tunneling. The critical part of this numerical modelling work that is under investigation in this study under each stress regime, is the period just after the excavation: i.e 4 hours; 16 hours after excavation; and finally after the complete curing (28 days) of the cement based components. The RRS are installed in three consecutive numerical steps as follows: a) the application of S(fr) on the rock surface in order to even it up for the RRS application; b) radial bolting; and c) installation of the reinforcing steel rebars, that form the reinforced beam. The results are varying and are strongly dependent on the imposed stress regime and they show in general the following tendencies: The axial forces on S(fr) show that S(fr) is almost overloaded during the first 4 hours in all 3 stages. More particularly: For the case with sH/sv =2 a) the axial forces on S(fr) and on the steel rebars are reduced after 16 hours and 28 days; b) the same is observed on the shear stresses in S(fr) and on steel rebars, they are decreasing after 16 hours and 28 days; and c) the bolts loads are almost unchanged. For the case with sH/sv =1 a) the axial forces on the S(fr) are reduced after 16 hours and 28 days; b) the same is observed for the axial and shear stresses, as well as moments on the steel rebars, they are decreasing after 16 hours and 28 days; and c) the bolts loads are almost unchanged."

Jan 1, 2016

By Deepak Malhotra, Linda Battich

INTRODUCTION Mineral processing plants generally operate efficiently within the technical, economic and management constraints applied to them. They have no choice, because the dynamic and competitive nature of the mineral business dictates that survival and/or prosperity of the company depends on being a low cost producer. Progressive mineral companies realize that market downturns will occur, and they must continuously strive for lower unit production costs rather than be satisfied with the status quo. Mineral companies generally tend to reduce costs during market downturns. This short-term solution is achieved by high grading of ores, and cut-backs In waste stripping, exploration, and capital expenditures.(1) However, to remain a low-cost producer in the long term, companies must enhance revenue and reduce cost simultaneously. This Involves continuous evaluation of technologies and reagents, periodic audits to locate revenue losses; and gathering and analyzing statistical plant data to clearly understand the Impact of process variables on efficiency. Mineral companies are caught in a Catch-22. They need resources to accomplish the objectives outlined above. Most mill stuffs have been cut to the minimum level necessary to maintain production. Resources such as time, manpower and money are scarce, and mill metallurglsts struggle to use these resources productively. Is your flotation plant optimized? History Indicates that successful operations constantly tune the flotation circuits to Improve metallurgy or reduce cost. This Is the essence of evolutionary change In mineral processing operations. A plant auditing approach can play a key role in assisting the process engineers to achieve the overall objective of enhancing metallurgy and reducing cost with limited resources through evolutionary improvements. FLOTATION SYSTEM The flotation process is the most widely wed concentration process In the world today. The number of variables that can affect the flotation results Is very large, maybe over 100. These variables can be divided Into three main groups: (2) (1) ore and mineral properties; (2) reagent treatment; and (3) flotation machine characteristics. Some of these variables can be controlled while others have to be accepted. Recently, Investigators (3,4) have attempted to describe the flotation process as an engineering system which includes chemistry, equipment and operating variables. Though some of the variables are Independent, most are co-dependent. thus making it difficult to develop simple cause and effect relationships. For example, it is easy to understand the effect of reagent change on recovery and grade In the rougher circuit, but very difficult to quantify Its impact on filtration downstream. Plant audits on a periodic basis are necessary to develop an understanding of the Interactive nature of the system. Auditing provides comparisons of plant operating performance before and after variable changes. OVERVIEW OF PLANT AUDITING An audit Is a formal, thorough and periodic examination of a system. There are various types of audits (i.e., geological, environmental, metallurgical. economic, etc.), and each serves a different purpose. (5) The discussion here is related to plant and/or metallurgical audits. Neale and Flintoff note that two key factors governing changes In an operation are: (1) the opportunity must be recognized; and (2) the justification for change must exist. (6) Both factors emphasize the critical role of successful plant auditing. Without plant audits. many opportunities for improvement must go unrecognized. On the other hand, when a situation ripe for improvement Is recognized. the hard data from a plant audit can reveal the expected impact of an operating change.

Jan 1, 1993

By J. G. Groppo

Froth flotation technique is an effective and efficient process for recovering of ultra-fine (minus 74 pm) clean coal. Economical dewatering of an ultra-fine clean coal product to a 20 percent level moisture will be an important step in successful implementation of the advanced cleaning processes. This study is a step in the Department of Energy's program to show that ultra-clean coal could be effectively dewatered to 20 percent or lower moisture using either conventional or advanced dewatering techniques. The main focus of the pilot plant study was on proof-of-concept testing of a dewatering technique for a fine clean coal product. The coal industry is reluctant to use the advanced fine coal recovery technology due to the non-availability of an economical dewatering process.

Jan 1, 1997

By D. E. Nash

Environmental compliance programs for mining companies are not only important management tools, but can deflect serious civil and criminal penalties if violations of environmental laws do occur. The paper discusses the legal foundation for such programs and their basic structure.

Jan 1, 2001

By Z. Hyder, M. Karmis

Underground or In-situ Coal Gasification (UCG or UICG), though not a new concept, is now attracting considerable global attention as a viable process to provide a "clean" and economic fuel from coal. Applying improved UICG technology to gasify deep, thin, and low-grade coal seams could vastly increase the amount of exploitable reserves. However, it is imperative that further development of this technology is based on integrating UCG practices and potential environmental impacts with accepted sustainability frameworks and processes. This paper evaluates the potential of UCG to conform to frameworks such as MMSD (Mining, Minerals and Sustainable Development), Natural Step and Green Engineering, in order to define its "sustainable" potential. The paper also discusses the potential contributions of UCG to sustainability during its design, operation, closure, and post-closure phases.

Jan 1, 2011

By A. J. Benham, H. Kessler

In the UK a high proportion of land-won sand and gravel is extracted from sub-alluvial gravels and river terrace gravels located within river valleys. However, extraction from deposits of this type is increasingly proving to be less acceptable. Quarries within river valleys often have a high visual impact and the cumulative impact of these operations in close proximity to each other can be high (figure 1). River valley operations are almost always restored to open water. Whilst these may be attractive for nature conservation and provide leisure activities, they can also have a serious impact on the natural hydrology of the flood plain. Wet restoration of quarries located close to airports or airfields can also lead to concerns regarding increased risk of bird strike on aircraft. The Civil Aviation Authority recently suggested that an exclusion zone of 13 km be applied around all airports and airfields to reduce the potential for bird strikes on aircraft. This action is likely to have a serious impact on the availability of potential sand and gravel extraction sites in river valleys.

Jan 1, 2005

By P. J. Ryan

Phelps Dodge’s Candelaria copper-gold mine is located 20 km (12miles) south of Copiapó in northern Chile’s Atacama province (Region III) (Fig. 1). The Candelaria Mine is about 800 km (500miles) north of Santiago and 75 km (47 miles) east of the Pacific Ocean. Its elevation is 600 m (1,970 ft) above sea level. The Copiapó River Valley is 6 km (4 miles) northeast of the mine site. It is the only major source of water in this arid region. The average rainfall is 14mm/a (0.5 in./year). During 1995, the mine produced 521.4 kt (574,800 st) of copper concentrate containing 150 kt (165,000 st) of salable copper and 3 t (98,800 oz) of gold. The 1995 unit cash cost was less than 50 cents/lb of copper. This makes Candelaria one the world’s lowest cost copper producers.

Jan 1, 1996

By J. Wesley Atkins

In considering the importance of lease management and administration, I have decided to approach the topic, Lease Default and Eviction: Action or Reaction, as a three phase presentation dealing with mineral lease administration and management, past, present and future. Though the title may border on the dramatic, it illustrates the real consequences of alternative approaches to property management viewed from my experience in the evaluation, development and implementation of a number of such systems and services in my current position as president of Talco Group Corporation. First, though, let's take a moment and set the stage by giving a few actual examples of why a pragmatic approach is needed in this particular area.

Jan 1, 1983

By Elham Najafi, Sina Ghassa, Ata Akcil, Hadi Abdollahi, Sandeep Panda, Zohreh Boroumand

Bioleaching is an environmental friendly process that has gained much interest for the production of metals from metal-bearing wastes or materials. The process decreases carbon footprint by reducing consumption of fossil fuels. Iron is a key factor in acidophilic iron-oxidizing bacteria’s activity, which is used extensively in the bioleaching of sulfide minerals. In the present study, the effect of different iron sources is investigated on sphalerite (ZnS) bioleaching. For this purpose, the effects of FeSO4  .7H2O, Fe2(SO4  )3 and FeS2 (pyrite) were studied on bacterial activity, and zinc (Zn), lead (Pb), cadmium (Cd) and arsenic (As) dissolutions were monitored from a ZnS concentrate. Under optimum conditions, the dissolutions of Zn, Pb, Cd and As were found to be 39.8, 0.1. 0.03 and 10 percent, respectively, in 25 days.

By Kiseong Hyeong

Geochemical characteristics, shapes and surface textures of manganese nodules from two blocks located in the southern (9°N~11°N) (KR5) and northern parts (16°N~17°N) (KR2) of the Clarion-Clipperton fracture zone between 130°W and 133°W were investigated in terms of sediment distribution and metal contents for better understanding of controlling factors of seabed manganese nodule genesis. Two blocks, ~700 km away, are dominated by the nodules with different origins, each of which has distinctive chemical compositions and shapes. KR2 block is dominated by irregular and poly-type nodules of hydrogenetic origin with low Mn/Fe, Cu, and Ni contents and high Fe and Co contents, while KR5 block is dominated by discoidal and ellipsoidal nodules of diagenetic origin with high Mn/Fe, Cu, and Ni contents and low Fe and Co contents. In addition, nodules from two blocks show different surface textures: smooth and transitional in KR2 and dimorphic and rough in KR5. Sediment distribution is also distinctly different in two blocks. The study area consists of three sediment types: Unit 1 ? dark brown mud with an intermediate metal content, Unit 2 - yellowish brown mud with poor metal content, and Unit 3 ? black metalliferous mud. KR2 is characterized by the thick occurrences (<250 cm) of Unit 1 at the surface while Unit 1 distributes thin (<12 cm) in KR5. Higher primary production rate in the southern block proximal to equator and resulting high supply rate of metals to the sediment might be the cause for the dominance of diagenetic nodules in the southern block, but potential controls of different sediment distribution on the nodule genesis can not be excluded. If it is the case, Unit 1 with an intermediate metal content likely has been acting as a sink for metals by precipitating micro-nodules within the sediment column. Within the KR5, the hydrogenetic nodules occur preferentially on the seabed where Unit 3 distributes at shallower depth (<50 cm). Unit 3 has 2 or 3 times higher metal contents than other types of sediments. It might play the same role as Unit 1 in the northern block that prevents the supply of metals to the sediment surface. It also supports the potential effect of sediment distribution on nodule genesis. Keywords: Nodules genesis, Sediment distribution, Supply rate of metals

Jan 1, 2008

By R. Frim, S. D. Ukeles

The present U.S. production of bromine is from inland brines located in Arkansas and Michigan. The most concentrated domestic brines (up to 5,000 ppm bromide) are situated in Arkansas. Less concentrated brines (about 2,500 ppm bromide) are located in Michigan. The amount of bromine sold or used in the United States came from three companies operating in Arkansas and Michigan. Arkansas, with its six plants, was the leading U.S. state in bromine production. Bromine being the leading mineral commodity valuewise produced in the state. The Michigan bromine production was a byproduct of magnesium compounds production.

Jan 1, 2006

By L. Alagha, M. Khodakarami

"This work focuses on the extraction of rare earth metals (REE) from aqueous solutions using stimuli-responsive polymers. Various parameters affecting the adsorption capacity of the polymer, including pH, polymer concentration and REE concentration were studied. The interfacial behavior of REE in aqueous phase before and after polymer addition and the mechanism of the formation of metal-polymer complexes and their properties were investigated using UV/VIS spectroscopy. Results obtained would help to test the feasibility of employing stimuli responsive polymers in pre-concentration of rare earth elements associated with other elements in mineral aqueous streams prior to solvent extraction. The pre-concentration step would reduce the amount of organic solvents used for extraction and striping compared to conventional extraction processes. INTRODUCTION Rare earth elements (REEs) have become the foundation for several technologies and have been used extensively in many industries such as modern electronics, green energy, health care and transportation and defense [1-4]. As these industry sectors are growing, the global consumption of REEs is going to increase dramatically. The current global REEs demand is estimated to be 105,000 tons of rare earth oxides per annum with an expected annual growth of 5.6% [5-6]. Rare earth elements are produced from different sources (primary and secondary). China is considered as the largest producer of REE in the world, providing about 90% of the world’s mine production while the United States is second with 4% of the mine production [7]. High global demand for rare earth materials results in shortage of such materials in the near future. It should be considered that the term ‘‘rare’’ earth is not an accurate term, since they are abundant in some extent in the Earth’s crust, but are typically finely dispersed. Thus, nowadays looking for more efficient and cheaper methods for extraction, separation and purification of low concentrated REE ores and exploring secondary sources are essential. Rare earth materials are found in raw condition and require treatment that involves several processes, which can consume money and time. Recent improvements in extraction and recycling technology have made the extraction of rare earth elements from rare earth sources more feasible in terms of cost and time [8-10]. Physical and pyrometallurgical methods require high-energy and thus high costs. Moreover, due to environmental problems, environmental protection systems are required, and they are not as adaptable as chemical processes [11, 12]."

Jan 1, 2016

Cement in 1975 indeed did operate in an unfriendly environment. World recession, escalating costs, fuel crises, reduced product demand . . . . all led to market conditions detrimental to industry profit margins and investment re turns. During the year plant utilizations fell, break-even points were raised, and competitive moves introduced to move built up inventory levels. A number of cement plants were temporarily taken out of production to help alleviate specific situations. Meanwhile, under resultant financial pressure, several companies omitted dividend payments, changed their top executives, and reorganized and reduced staff overheads. It was a difficult year for cement, yet a much more ominous note was sounded in permanent plant closings. Four more cement operations were shut down in 1975; to date in 1976 we know for sure of three additional plant closings, while rumour has it that at least one more may not be in production by year-end. The somber feature is found within the descriptions of the closed facilities, and in the stated reasons for their being taken out of cement manufacture.

Jan 1, 1976

By B. R. Zernich

Advances in tunneling technology, such as Earth Pressure Balance and Slurry Shield methods, have allowed the tunneling industry to construct tunnels in increasingly difficult ground conditions. In recent years, a number of civil projects including large diameter train tunnels, subway tunnels, water tunnels, sewer tunnels, and combined sewer tunnels have been successfully completed deep beneath the water table in soft ground conditions utilizing modern day Tunnel Boring Machines (TBM). With the increase in difficult ground conditions and higher water pressure comes the inherent need to utilize compressed air to gain access to the TBM?s cutterhead and cutting tools. This paper focuses on one such instance in Los Angeles, CA in which Traylor Brothers Inc. performed a cutterhead intervention by compressing the heading of an 11-foot diameter tunnel to approximately 3 bar gauge pressure. This paper focuses on the environmental controls used to manage ventilation, oxygen levels, temperature, and pressure, as well as discusses the problems associated with toxic gases and the increased risk of fire. The paper will also cover the physical science of the environment and the increased risks of performing basic job functions while in a compressed air heading.

Jan 1, 2009

By G. A. Nyamekye

Two major Inco matte constituents, chalcocite and heazlewoodite, are separated by differential flotation with diphenylguanidine as collector. A new reagent system involving the use of dextrin as a modifying agent which provides better selectivity has been studied for the last three years. Adsorption tests reveal that while dextrin exhibits high affinity towards heazlewoodite, the adsorption isotherm for dextrin on chalcocite shows only weak interactions. Our electrokinetic measurements confirm such conclusions. Since dextrin interaction with solid surfaces seems to be especially strong when such surfaces are covered by hydroxide layer, our electrokinetic measurements are in line with other researchers&apos; findings who postulated that copper hydroxide is not a stable product on the surface of copper sulphides.

Jan 1, 1992

By Norm Steenson

Rapid excavation includes rapid support and is the central theme of this paper. Over the last few years, enormous strides forward have been made in the excavation and material handling aspects of underground excavation. However, the technology necessary to support these rapidly created openings has lagged behind the other aspects. This paper would attempt to bring you up-to-date on the progress made in bringing ground support using shotcrete into the same productivity rates as the other cyclic operations. Shotcrete has become an acceptable material for temporary and permanent support for undergound openings. However, coarse aggregate shotcrete has been an expensive construction material. It has been confined in the main to difficult ground conditions where conventional methods of support have proved to be even slower and more expensive than shotcrete. There are two main factors influencing the productivity of shotcrete equipment. (1) Structural shotcrete as opposed to gunite requires 40% to 45% rock minus 3/4" in the mix design. The equipment to handle such aggregate content has been difficult to develop on a volume basis owing to the attritional nature of the material which causes intense wear problems on

Jan 1, 1974

By Erik Westman, Enji Sun, Xu Ma, Ben Fahrman

"Shale gas has become an increasingly important clean energy, which has been explored worldwide in recent decades. Supercritical CO2 acts as fracturing fluid for shale gas production. The safety monitoring is essential to prevent any kinds of leakage from the reservoir as the supercritical CO2 physically stored hundred kilometres underground. Seismic tomography is an imaging technique that uses induced seismic waves to create three dimensional images of the subsurface. It is an effective monitoring method to evaluate the caprock integrity in the carbon dioxide sequestration storage (CCS). In this experimental research, a simulated uniaxial compressive load is applied on a granite sample to analyze the stress redistribution for long-term in-situ caprock integrity during CO2 injection. The induced seismic waves are recorded and seismic events are traced based on the Geiger algorithm. The frequency of seismic events correlates with the caprock failure evolution. The acquired seismic data is divided into four regimes based on the frequency of seismic events and the failure process to examine the failure evolution. Furthermore, the travel time and distance is plotted to analyze the variation of velocity. Finally, the double difference tomography (TomoDD) algorithm using arrival time is adopted to recalculate the locations of seismic events and velocity structure in each regime. The results indicate that the passive seismic system can map the caprock stress distribution and allow for imaging of the caprock integrity. TomoDD exhibits sound improvements to relocate seismic events both in relative and absolute locations as well as to characterize the local velocity structure. The study further reveals that seismic monitoring along with TomoDD could evaluate the caprock failure accurately in the CCS.Introduction To reduce the CO2 concentration in the atmosphere, CO2 capture and sequestration (CCS) has been suggested to as a means of continuing to use fossil fuel resources while offsetting their negative environmental impacts (Eiken et al 2011). A positive CCS project should retain 99% of the injected supercritical CO2 (pressure is greater than 7.38 MPa and temperature is above 31.04? and a density is of about 700 kg/m3) over at least 100 years (Davidson et al 2005). As large quantities of supercritical carbon dioxide are being injected into full scale storage projects, caprock stress is redistributing and the leakage could occur anywhere over a wide storage area (Hou et al 2012). Acoustic waves are emitted from the caprock, as it fractures due to the CO2 injection, which can be detected by passive seismic sensors (Shitashima et al 2013). Tomography techniques are advantageous for imaging the integrity of the caprock in the CCS projects. Velocity tomography uses waves to model entities based on the arrival time of waves (Westman et al 2001, Westman 2004, Luxbacher et al 2008). Seismic tomography is a data inference technique that exploits information contained in seismic records to constrain 2D or 3D models of the Earth's interior. It generally requires the solution of a large inverse problem to obtain a heterogeneous seismic model that is consistent with field observations (Kudryavtsev et al 2012)."

Jan 1, 2017

By James H. Boettcher

In the second quarter of 1979, ASL Inc. inquired whether Crocker National Bank ("CNB") would provide $4 million in term loan financing to help ASL acquire the outstanding shares of the S&S Coal Company in West Virginia. ASL had, prior to approaching CNB, sought financing with the assistance of a financial advisor from a number of commercial banks without success. A summary of the initial terms requested by ASL is shown in Table I compared with the actual terms the transaction closed with. It is not difficult to note that the two sets of terms differ significantly. This is often the case when financing requests based on the expectations and vision of a mine developer are juxtaposed with more pragmatic requirements of a commercial bank. The "art" and fun of structuring financing plans for mining ventures (highly leveraged acquisitions or grass roots) comes in working with mine developers to arrive at a final financial structure that meets their objectives and constraints as well as those of the bank or other financial institution providing much of the financing. This article briefly describes the process we went through with ASL beginning with the terms they requested initially and ending with the ones on which the transaction was finally closed.

Jan 1, 1981