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By Alfred Jr. Petrick, William A. Vogely

INTRODUCTION The scope of mineral finance extends beyond the economic aspects of property evaluation to all of those activities involving acquisition and utilization of funds with an objective to optimize the value of the firm. It must, therefore, en- compass consideration of the overall financial goals of the firm, decisions involving external versus internal growth and domestic versus foreign investments, management of working cap- ital, efforts to minimize the cost of capital, and decisions with regards to the instruments of long- term debt and equity financing. The scope of this section is limited to considerations of special interest to the mineral or petroleum engineer, which include the following aspects of mineral finance: (1) The technical aspects of mineral or coal property or oil and gas reservoir evaluation which provide the basis for estimation and forecasting of revenues and costs. (2) Estimation and forecasting of costs and prices in a inflationary economic environment. (3) Calculation of cash flows which model .. , the investment in minerals, coal or oil, and gas. Such models require assumptions as to the timing of cash flows, escalation of capital and operating costs, base prices, and escalation, the tax regime, royalties, division of profits and the economic aspects of loans. (4) The role of discount rate in the economic analysis of an investment which requires consideration of the opportunity costs of the firm, cost of capital, risk premiums. (5) Risk analysis including application of the concepts of conditional net present value, expected value, and risk preference as well as the application of the techniques of sensitivity and simulation. (6) Selection of application criteria for in- vestment decision making. (7) Capital structure with particular reference to the effect of debt financing. (8) Consideration of sources of funds utilized by the minerals industries. (9) Long-range planning including portfolio analysis. This section is limited to principles, methodologies, and trends in mineral investment, finance, and long-range planning in the United States with a perspective from the year 1984. Consideration of the key concepts is supplemented by case examples of investment risk analysis and financial structure. Important factors affecting mineral investment evaluation during the 1980s include volatile metals prices, cost inflation, and the introduction of techniques requiring the computer and its capacity for improved technical and economic analysis into the hands of those who know most about the industry. The personal computer is replacing the calculator on the desk of the individual analyst and is rapidly becoming a required tool for the study of engineering and economics. Examples of change brought about by the micro-computer include greatly improved techniques of cost estimation, wider application of the computer for project analysis, computer graphics, reserve estimation, geostatistical analysis, mine design and other techniques that capitalize on the ability of the computer to handle

Jan 1, 1985

By M. C. Williams, T. P. Meloy

For over thirty years the Population Balance Model, PBM, has been the mainstream modeling method for comminution unit operations and comminution circuits. For commercial comminution circuits the method is based on erroneous physics and dubious numerical mathematical methods leading to non unique solutions that have little extrapolative value and faulty control strategies. In short the PBM is wrong. Given is a detailed analysis showing a number of non trivial flaws in the linear PBM. Moreover, a simpler model is presented that leads to a solution of the comminution circuit predicting the size distribution output over a variety of conditions. Because the linear PBM is firmly entrenched, an award is offered, $10,000, to any researcher that can use the linear PBM and its present numerical methods to predict the typical straight line, self similar, output of wet mills over a variety of grinding times.

Jan 1, 1992

By David D. Eyer

Since the decade of the 1990s is nearly upon us, I have focused on what I see are the likely trends featured in new large underground coal mines 10 years from now. I do this from the vantage point of having been involved in the installation of large mines for more than twenty years. Little of the equipment resources we have available today was unknown when I entered the coal business in 1960. There were continuous miners, longwalls and diesel-powered equipment in Europe, monitoring systems, computers, heavy media separation systems, froth flotation and conveyors then as there are now. A substantial evolutionary process has occurred with these and other mining machines and processes. Some evolved only to die out, such as boring-type continuous miners; others, such as longwall systems, flourished. My intuition tells me that since there have been largely evolutionary rather than revolutionary developments in the near past, the same is true of the future, at least for the next 10 years. In other words, the elements of what are in the future are with US now. Some, such as computer-based applications, may evolve beyond our wildest dreams -but I doubt it.

Jan 1, 1988

By Douglas W. Fuerstenau, Pradip Pradip

The design and development of selective flotation collectors has been the key to the remarkable success of flotation in beneficiating complex, difficult-to-process ores. It remains a challenging area of contemporary research in mineral processing.

By W. C. Yates

Lack of visibility from large, open-pit haulage truck cabs has become a serious safety problem. Anaconda conducted a research program to develop a low cost system to alert haulage truck operators to small vehicles present in blind areas. Several systems were developed and tested. As open-pit haulage truck size has increased, so has the size of the blind areas. Mine utility vehicles, pickup trucks, and cars are concealed within these blind areas and become safety hazards. Figure 1 shows the typical blind areas of a 136 t (150-ton) haulage truck. The areas of greatest concern are at the rear center and front right corner of the truck. In these "no visibility" areas many small vehicles have been crushed by large haulage trucks at various mine sites. In most instances, the occupants escaped the vehicle before it was destroyed. But injuries and death have occurred. In most cases, the accidents were attributed to negligence or carelessness by the small vehicle driver. The limited visibility problem still exists, though, and a solution is needed. Initial Solution The usual plane mirror on the driver's side and the convex mirror on the right front of the haulage truck allow only limited rear visibility. The typical, right side convex mirror is generally small and difficult to locate at a glance. This convex mirror also presents an image that distorts distance perception. These mirrors are of¬ten broken and immediate replacement not demanded or made. The US Bureau of Mines, in a contract with M.B. Associates, San Ramon, CA, developed an improved visibility system. It consisted of a larger, left view mirror and unique, blind area viewer. The large 230 x 690 mm (9 x 27 in.) left mirror has a small convex spot mirror near the bottom. The entire unit can be quickly replaced if broken. The large size provides a full view of driver orientation features such as the rear tire and the top of the load bed. The right 300 x 410 mm (12 x 16 in.) mirror has a convex surface and is quite rugged. The 510 mm (20 in.) spherical radius presents the operator with some distance distortion, but objects in its view are easily seen. The "blind area viewer" consists of a modified fresnel lens that allows the driver to "look around the corner." Installation of three of these lenses on the front of each haulage truck is rec¬ommended for adequate blind area coverage. This system significantly increases an operator's field of view and allows viewing of objects within about 3 m (9.8 ft of the truck. Many open-pit mines are nor mounting on smaller vehicles a long whip with a flag and lamp or both. This increases vehicle visibility to haulage truck operators. The whip is permanently attached to the mine vehicle. It can also be magnetically attached to transient vehicles. The whip system. though, is inadequate for visibility in the critical rear and right front blind areas. Alternate Solutions All of these visibility aids as¬sume an attentive driver. In addi¬tion, areas such as the rear blinc, area are not covered. Based on the inadequacy of existing visibility systems, Anaconda made a com mitment to further the truck de¬tection technology. The best ap¬proach was considered to be ar active system. It would notify the haulage truck operator that an en¬croaching vehicle is present. Sev¬eral systems were considered, in¬cluding ultrasonics and elec¬tromagnetics. For the ultrasonic system, com mercial and in-house design were looked at. Designing an( building transducers with the spe cific beam shape to match the haulage truck blind spots re¬quired a major technological breakthrough. False alarms ap¬peared difficult to prevent en¬tirely. They were caused by pass¬ing, trailing, or leading vehicles a., well as nonthreatening objects. As a result of these problems, the ul¬trasonic technique was not pur sued. An alternative, an electro

Jan 7, 1982

By G. R. S. Smith

In any filtration, it is primarily the filter medium (cloth) and cake filtering properties that control the type of filtration equipment used and filtration conditions. The advent of new types of filter cloths, such as the membrane cloth discussed in this paper, can result in significant changes in filtration techniques and areas of application for filtration. For many suspensions, for instance, conventional filtration is uneconomic compared to gravity separation or not filtering at all (as with product recovery from dilute streams) because the solids are very fine, are hard to retain and build up filter pressure rapidly, and once retained are hard to remove. As a result of the developments discussed here, this is no longer the case. This technique and the use of the membrane filter cloth is well established. This filtration is currently being used for white liquor filtration in twenty-four mills worldwide in the chemical recovery step of the kraft process for producing paper pulp where it is replacing gravity thickeners in new plants. Filters up to 1000 sq. ft. (100 sq. meters) are filtering large volumes of solids from hot caustic solutions. The filtration materials and techniques discussed in this paper open the way to new methods and applications for filtration in the mining industry. It is not the intention of this paper to give a vigorous analysis of the different separations, but to outline some of the ways in which this filtration technique might be used in the mining industry.

Jan 1, 1989

By A. Chamaret

Minerals extraction is related to complex sustainable development issues that are subject to international and local controversies. Debates must be based on objective and comparative elements. Defining strong indicators for assessing impacts and performances of mining sites thus appears necessary to inform and support the decision-making process for stakeholders. Recently, many indicator sets have been developed on an international level based on top-down approaches, but they commonly lack legitimacy for stakeholders and adequacy to specific site issues. They thus need to be complemented by the consultation of local actors concerned by such mining activity, in order to define indicators that are closer to the needs and contexts of the specific sites. The question raised by this kind of top-down/bottom-up approach is how to organize and reveal the plurality of values and concerns associated with mining. Based on the principle of representative diversity, the approach undertaken at the Arlit uranium mines in Niger aimed at defining indicators that are understood and accepted by all actors. The aim was to measure the impacts and performances of mining sites in the four sustainable development dimensions, and at local, regional and national scales.

Jan 1, 2007

By Ross W. Smith, D. L. Taylor, K. A. Altman

Traditional sensitivity analysis of metallurgical data has the potential to overestimate the value of mining projects. Such analyses provide no information about the probability of the results. Simulations that rely on the input of statistical information provide more realistic predictions of the value of future projects and offer additional information regarding the probability of the outcome.

Jan 1, 2003

By G. Belardi, N. Sheau, P. Plescia, F. Veglio

A study was conducted to assess a new wet gravity-separation machine, identified as the Multi-Gravity Separator(MGS). Chromite fines, obained from an Albanian chromite and olivine ore and containing 23% Cr2O3 and 18% SiO2, were used in the study. The first step was to determine the influence of various operating parameters. The study indicated that the most important variables for the MGS are rotational speed, tilt angle and shake amplitude. The best treatment conditions for the ore were then identified by investigating a series of circuits designed to produce a marketable product. In open circuit, a concentrate containing 50% CI-203 was obtained with a recovery of 72%.

Jan 1, 1996

By John Dodd

Advances in the technology of abrasion resistant irons and steels, which could help in combating abrasion and wear in mining operations, are reviewed. Nodular irons alloyed with nickel or copper and molybdenum, with acicular, bainitic or bainitic-martensicic microstructures are described. These alloy irons combine excellent castability and relatively easy machinabilitv with good resistance to wear. Recent progress in the development of high chromium molybdenum alloy irons is outlined, by which high temperature heat treatment of massive castings can be eliminated, alloy costs can be reduced and cracking problems avoided. Data is also given on the erosion-corrosion resistance of these irons. Trends in the development of improved cast steels are outlined. Factors influencing the toughness and abrasion resistance of manganese steels are considered. The 6% Mn 1% Mo manganese steels are shown to have a useful combination of toughness and abrasion resistance. Composite castings are seen as a means of com- bating abrasion in applications involving severe impact. A brief appraisal is given of recently developed martensitic wrought steels with improved weldability.

Jan 1, 1981

By J. J. Gusek

Passive treatment of mine drainage using constructed wetlands has been employed on coal and metal mine sites since about 1985. The technology has advanced significantly since then; there are currently over 600 of these systems treating coal mine drainage in the Eastern U.S. at flow rates of hundreds of liters per minute. Passive treatment performance at three metal mines discussed in this paper has been positive for a wide variety of flows, water chemistry, and climates. The sites include a high-altitude underground copper mine, acidic seepage from a gold heap leach pad, and pumped effluent from an active underground lead mine in Missouri.

Jan 1, 2000

By R. J. Sweigard, R. V. Ramani

Productive and beneficial use of reclaimed surface-mined land is a concern of industry, government, and the general public. A process has been developed that will aid mine planners and public planners in the evaluation of postmining land use potential. This process involves the application of site planning principles to surface-mined land in a way that ensures productive end use of reclaimed land. The process consists of 10 basic components and is iterative in nature. Termination of the process depends on the amount of data collected and the evaluation requirements of each mining site. The analysis centers around the economic, environmental, and social impacts of the alternative land use plans.

Jan 1, 1987

By I. C. Lemmer

A distribution-free approach is developed for estimating a bivariate distribution function for an ore deposit in terms of the experimental grade correlogram and experimental "weight functions" of the deposit. These weight functions are calculated as part of the approximation used in the mononodal cutoff concept. Use of this method obviates the need to transform to an isofactorial bivariate model. The method is illustrated for two examples, where the bivariate distributions are supposedly known : (a) the bivariate normal distribution and (b) the bivariate lognormal distribution. It is shown that the estimate of the underlying bivariate distribution is optimal when working at the mononodal cutoff, as can be anticipated theoretically. The approximation decreases in quality on either side of the mononodal cutoff, but still remains acceptable as a first estimate of the actual bivariate distribution.

Jan 1, 1986

By D. He

In China, the total reserves of vanadium, reported as V2O5, in stone coal is 118 Mt (130 million st). Recovering vanadium from such a large resource is very important to China?s vanadium industry. The technology now being used to recover vanadium from stone coal has the following two problems in the leaching process: a low recovery of vanadium and high acid consumption. To resolve these problems, a new leaching technology is proposed. The effects of factors such as H2SO4 concentration, liquid-solid ratio, temperature and time, and the types and additions of additives were studied. By adding 1.5% (by weight) CaF2 and leaching the roasted residue of stone coal with 5.4% (by weight) sulfuric acid at 90°C for 12 hours at a liquid-solid ratio of 2 mL/g, the leaching degree of vanadium reached 83.10%. This proposed leaching technology gives a feasible alternative for the processing of roasting residue of stone coal and can be applied in the comprehensive utilization of stone coal ores in China.

Jan 1, 2008

By A. Russell, M. N. Hughes, Jack Barrett

The bacterial oxidation of arsenopyrite has been shown to be an efficient, economic and environmentally acceptable method for the liberation of any gold content . The mechanism of the process is not certain but is usually considered to involve direct and indirect reactions with respect to bacterial involvement. The direct reactions are those in which the bacteria attached to the mineral surface cause its dissolution, with dioxygen being the oxidant. The iron(III) produced in solution is the chemical oxidant in the so-called indirect reactions. Barrett et al 2 showed that a synthetic bio-oxidation solution (with no cells present) could dissolve up to 15% of an arsenopyrite sample, the products of the chemical oxidation being iron(II) and arsenic(III). This paper describes an extension of the investigation of the chemical process and its imp! ication for the mechanism of the bio-oxidation of arsenopyrite.

Jan 1, 1990

By Y. P. Chugh

During late 2010, a scientifically founded water spray system was developed for continuous miners (CM) (Patent Pending) that reduces respirable dust exposure for miner operator by about 30%. It includes engineered sprays around the cutting drum, outer bit-ring sprays, chassis sprays and side cutter boom sprays. About 3.6 ? 4.5m (12-15 ft) behind these sprays is additional sprays that spatially cover the area between the CM chassis and the mine roof and ribs. The spray system uses approximately the same volume of water as currently used on CMs with similar operating pressures. An Illinois mine decided to implement these concepts on a CM during rebuild stage. Dust control performance of the rebuilt CM was evaluated using gravimetric sampling and real-time monitoring using multiple personal dust monitors (PDMs). The average results based on about 105 cuts show about 30% and 20% reduction in dust exposure for the miner operator, and the haulage unit operator. Visibility in the mining areas was also significantly improved. The coal company has already decided to implement the system on all their CMs.

Jan 1, 2012

By Donald E. Hulse

Selection of a block size for a computerized 3 dimensional ore body model is an exercise in compromises. Larger blocks decrease the use of computer resources and decrease the variance of the block estimates. Smaller blocks increase the resolution of the model and the selectivity which can be used in the planning, but increase the variance of estimates in the individual blocks. A common rule is that blocks can be as small as one fourth the average sample spacing, however this ignores the interrelationship between the block size, the sample spacing, and the variogram model. This paper will explore this relationship Kriging estimation variance will be used as a comparative measure of estimate quality. Graphical techniques will be used to show that there is a point where smaller block sizes cease to contribute to the resolution of the model. A method of evaluating the consequences of block size decisions will be examined.

Jan 1, 1992

By Grant P. Cordon

Our subject, "Safety, Legal, and Contracting," is a range of topics which covers a broad spectrum, but is obviously Intended to focus our attention upon certain particular aspects of tunnel problems. These are all fascinating and complex subjects, and others are much more qualified to discuss to discuss the fine points involved. Put after some 45 years' involvement as an inspector, engineer, contracting officer, and especially for the last 22 years as a contractor's estimator and manager, I have developed some strong and definite convictions to share with you. I hope it will serve to get you started thinking. My first tunnel experience was in a soft ground tunnel which was dug by hand, literally. The crown or arch back was taken out, a pebble at a time, by bare hand. The face was constantly breast-boarded, and the mucking was all done by hand shovel. My first rock tunnel was drilled by hand held drifters from the muck pile. Since then, most tunneling techniques have improved greatly. The jumbos, booms, muckers, and moles have taken over many of the back-breaking chores, and reduced the manpower requirements.

Jan 1, 1974

By Lawrence Williamson, Randall J. Essex, David P. Field

As part of a $2.2 Billion bridge project that will link Indiana and Kentucky, an interchange project northeast of Louisville will require the mining of a 6-lane tunnel system about 2,000 ft long in order to cross beneath the historic Drumanard Estate. This paper will discuss preliminary engineering that has been undertaken to compare two-bore and three-bore layouts, the planning of an exploratory tunnel facility, and the potential for including a test chamber to investigate the ability of high capacity roadheaders to mine the 22,000 psi limestones.

Jan 1, 2005

By Leping Liu, Sachin Urade, Li-Ting Chen, Pengbo Chu

This study aims to provide industrial perspectives on the current U.S. metal mining engineering education and areas for improvement. An online survey was designed to seek opinions from the U.S. mining industry. Findings indicated a shortage of qualified graduates from the current U.S. metal mining engineering education system. The qualifications that need to be improved include engineering sciences underlying mining methods, mining design experience, mining feasibility study, the connection between theory and practice, and understanding of the overall mining operation. The survey also identified future desired qualifications, such as the ability to acquire and apply new knowledge as needed and sufficient field experience. Respondents recommended enhancing collaborations between industry and academia.

Oct 1, 2023