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Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

By D M. Hunter, S M. Iveson, K P. Galvin

For low density materials such as coal, density-based fractionation of particles via the sink-float method is relatively simple due to the availability of liquids of suitable density; however, for high density minerals, suitable heavy liquids are less available and those that are available are expensive and pose significant hazards. At best, sink-float separation can be performed up to densities of 4400 kg/m3 with the use of Clerici’s solution at elevated temperatures. Hence the direct measurement of grade-recovery and density-partition curves is problematic. Therefore, in most cases, beneficiation plants must rely on methods such as QEMSCAN, density tracer particles or very limited information to guide them in the design and optimisation of their plants.This paper describes a density-fractionation method utilising laminar flow through a system of parallel inclined channels to generate a series of overflow fractions at different flow velocities. Here the particles are subject to precise hydrodynamic forces with minimal dispersion or mixing. The size distribution of each overflow fraction at a given flow velocity is obtained using a laser particle size analyser, and combined with a laminar flow model to deduce the corresponding density distribution. The paper describes the application of the method to measure the separation achieved using a REFLUX Classifier to obtain the corresponding feed, product and reject ‘washability curves’, and in turn the full partition surface. Approaches used to corroborate the findings are discussed.CITATION:Hunter, D M, Iveson, S M and Galvin, K P, 2017. A batch elutriation technique for the density-based fractionation of iron ore, in Proceedings Iron Ore 2017, pp 195–104 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By L. Uotinen, M. Rinne, R. Mishra

Underground mining gives rise to geotechnical hazards. A formal geotechnical risk assessment can help to forecast and mitigate these hazards. Frequentist probability methods can be used when the hazard does not have many variables and a lot of data is available. However, often there is not enough data for probability distributions, such as in the case of new projects. The risk assessment is often subjective and qualitative, based on expert judgement. The purpose of this research is to present the use of Bayesian networks (BNs) as an alternative to existing risk assessment methods in underground mines by combining expert knowledge with data as it becomes available. Roof fall frequency forecasting using parameter learning is demonstrated with 1141 sets of roof fall data across 12 coal mines in the USA. The prediction is nearly identical for individual mines, but when multiple mines are evaluated it is difficult to find a single best fit distribution for annual roof fall frequency. The BN approach with TNormal distribution was twice as likely to fit the observed data compared to the Poisson distribution assumed in the past. A hybrid approach using BN combining multiple probability distribution curves from historical data to predict annual roof fall is proposed. The BN models can account for variability for multiple parameters without increasing the complexity of the calculation. BNs can work with varying amounts of data, which makes them a good tool for real-time risk assessment in mines.

Jun 1, 2021

By Jan E. Nesset, James A. Finch, Wei Zhang

"Bubbles are unquestionably the heart of the flotation process. Their size and combined surface area are largely what drive the recovery process. This suggests that plant engineers should be aware of where their plants are operating with respect to what is achievable for these key parameters. The paper presents a model of how the key operating variables of frother type and concentration, gas rate, altitude (above sea level) and viscosity affect the Sauter mean bubble size (D32) and bubble surface area flux (Sb). The results are compared to a set of plant measurements that demonstrate the benchmarking capability of the approach. A case study is used to link hydrodynamic change to improved metallurgical performance.INTRODUCTION At the beginning of the 20th Century the early practitioners of flotation were aware of the importance of understanding bubble behaviour (Rickard, 1916) but measurement of individual bubble and gas behaviour in the industrial environment was not possible due to a lack of adequate sensors. This situation was not rectified until three quarters of a century later with the advent of industrially-robust sensors developed, notably, at the University of Queensland’s Julius Kruttschnitt Mineral Research Centre (JKMRC) (Schwarz & Alexander, 2006) and McGill University (Gomez & Finch, 2002). What emerged was not the chaotic environment perhaps expected, but defined relationships between gas rate, gas holdup, bubble size and the total surface area of bubbles. These relationships could be defined by mathematical expressions and predicted from an understanding of the key process variables (Gorain, Franzidis & Manlapig, 1997; 1999) (Hernandez-Aguilar, Gomez & Finch, 2002) (Gomez, Cortes-Lopez & Finch, 2003) (Nesset, Gomez & Finch, 2007). The early JKMRC work focused on a large pilot cell (3 m3) installed in plant environments, while the McGill work was initiated on flotation columns (Finch & Dobby, 1990) (Xu, Finch & Uribe-Sales, 1991) and later adapted to industrial mechanical cells (Cooper, Scott, Dahlke, Finch & Gomez, 2004) (Dahlke, Gomez & Finch, 2005) (Nesset, Gomez, Finch, Hernandez-Aguilar & Difeo, 2005). Yianatos of Santa Maria University (Chile), a graduate of the McGill research team, carried the work to industrial settings in South and Central America (Yianatos, Bergh, Condori & Aguilera, 2001). The methods of gas dispersion measurement are now well accepted and most major research centres and flotation cell manufacturers have adopted the technology (Pyecha, Sim, Lacouture, Hope & Stradling, 2006) (Yañez et al., 2009) (Collins, Schwarz & Alexander, 2009)."

Jan 1, 2012

By M. Y. Levesque

The Australian Government?s Energy Efficiency Opportunities (EEO) program launched in 2006 obliges companies that use more than 0.5 PJ (petajoule) or roughly 139 GWh (gigawatt hour) per year to conduct an energy assessment in order to identify measures to improve energy efficiency. The opportunities identified by the mining sector were assembled in the Mining Significant Opportunities Register that permitted companies not yet embracing and adopting an energy management program to see what those who are, were doing and how much energy was saved, and helps disseminate best practice. The measures can be filtered by company, year, category or equipment type. The creation of a central repository of energy efficiency initiatives is valuable but this existing database could be improved; fields identifying the energy and carbon emission savings associated with a given initiative are a surprising omission. Consequently it does not permit the relative effectiveness of different measures for energy and carbon reductions to be readily assessed. A review of energy management efforts implemented in the mining industry, published in peer reviewed journals, corporate sustainability reports or industry publications during the last 40 years has revealed many examples of best practice. However, the lack of a standardized reporting framework in any of these sources has made it difficult to assess the effectiveness and compare the adopted energy management measures ? just as is the case with the Australian register. In an attempt to address these issues, an improved database structure has been created for energy management measures from the mining industry which identifies energy and financial savings arising from energy management initiatives, classifies applications to specific processes or equipment, and recognizes leaders in the mining industry with respect to energy management. The structure of the register includes the key data relevant to energy management in mining that is absent in the Australian version. The mining industry energy management database has been made available in the public domain where stakeholders can examine the best practice examples. Mining energy champions may also contribute to the register by providing case studies; a standardized entry template affords a quality assurance dimension that is absent in other reporting initiatives. Adoption of this database with its standardized reporting mechanism will enhance transparency of the mining industry in energy matters and help it maintain its social license to operate.

Aug 1, 2013

By B. G. Kelley

The MIDREX® Direct Reduction Process was developed during the 1960s by the Midland-Ross Corporation, which had pioneered shaft furnace technology and stoichiometric gas reforming for use in processing minerals. In 1969, the first MIDREX® Direct Reduction Plant was built in Portland, OR. Since then, 49 additional modules have been sold in 18 countries. For the last ten years, over 60 percent of the world's direct reduced iron has been produced in MIDREX Plants. During the quarter century since commercialization, many technical improvements have been made, including larger shaft furnaces, in-situ reforming, greater heat recovery, improved catalysts, and hot briquetting. Midrex continues to enhance the technology in the areas of economy-of-scale, energy efficiency, alternate fuels, and raw material flexibility.

Jan 1, 1998

By Theophilus Mensah, Kwame Awuah-Offei

Engineers face significant challenges when determining what geometry provides the most profitable and safe stope for extraction. Several techniques and optimization algorithms have been developed in recent years, but most fail to find optimal solutions because they are heuristic or LP-based without efficient geometric constraints. This paper presents a two-dimensional binary linear programming (BLP) model for determining the optimal combination of blocks in a stope that maximizes the economic value of the layout of stopes for a sublevel deposit. The work draws from Queyranne and Wolsey’s (2017 & 2018) formulations of tight constraints for bounded up/down times in production planning problems to formulate novel and efficient geometric constraints along with geotechnical and grade constraints for the BLP stope layout optimization problem. Results from the model indicate that it is possible to formulate efficient shape constraints in LP-based approaches. The model used for the numerical example contained 144 valuable blocks out of 774 blocks, which translates into an economic value of $53.21M. The BLP model selected 60 valuable blocks and 13 waste blocks that met all constraints translating into a maximum economic value of $34.4M in 1.83 hours within a gap tolerance of 0.00%.

Jun 25, 2023

By G. T. van Rooyen

In this overview of materials engineering, the author, drawing on his long experience from his student days until the present (emeritus professorship), briefly recounts the main developments in this field: dislocation theory, fracture problems, and the development of alternative materials such as ceramics and polymers. He then takes a look at the future, in which he foresees a greater demand for materials engineers, and leading roles for universities and technikons in collaboration with industry.

Jan 1, 1996

By R. R. Smith

The meaning of the title, "Blank Piece of Paper," refers to the need for management to take a completely fresh viewpoint to the problems facing our industry. These problems are so severe and some so new that conventional thinking may not be adequate to resolve them. Innovation has to be a part of every company's approach to the solutions, our concept is to start with a "Blank Piece of Paper.' The objective of 'this paper is to outline steps which can be taken to improve the profitability of a mining business. This is not an examination of technical solutions to individual problems, but rather recommendations for overall change in management thinking. This philosophy is based on our actual, hands-on experience in major open pit operations worldwide over the past 25 years.

Jan 1, 1987

By V. Evans

Mine lateral development advance rates currently average about 5 metres (16.5 ft.) per day. Granduc Tunnel hit 35.1 metres (115 ft.) on their best day, 12 km from the portal, single heading forty-three years ago. This Canadian mining record remains an excellent example of rapid drill and blast excavation with suggestions for improving current practice.

May 1, 2011

By Larry Mirabelli, David Lilly

In 1777, the French naturalist, Georges Louis Leclerc, Compte de Buffon developed a statistical technique to estimate the width between two parallel lines by randomly throwing a needle at the two lines and counting the number of times the needle intersected one of the two lines. By knowing the length of the needle, the distance between the parallel lines could be estimated. This analysis was named the “Buffon’s Needle Problem”.

Jan 1, 2008

By Sherwin F. Kelly, Bela Low

THE WORK OF THE DRILLER and of the oil geologist is seriously handicapped by the impossibility of actually seeing what is going on inside a borehole as it is being drilled. Visual information of the position and condition of the casing, and of the characters and attitudes of strata passed through would be of inestimable benefit. The best substitute for putting a periscope down a hole is the taking of photographs of its interior at points where information is desired. An apparatus for this purpose has been constructed by Dr. Thomas Reinhold, of Heemstede, Holland, and one instrument of his design has been put into practical use by the Geological Survey of The Netherlands in searching for water. To the best of our knowledge, this instrument has not been applied to oilfield problems, although the possibility has been mentioned in the one or two brief notices of the camera which have appeared in the literature.' The purpose of presenting this description of the instrument, with some examples of its work, is to suggest that it might be adapted to serve a variety of useful purposes in American oilfields, and with the hope that discussion will bring out any modifications necessary to make the apparatus more valuable to drillers and geologists.

Jan 1, 1932

Sixty years after its inception, after an alternation of periods of admiration and rejection by the industry, Sampling Theory can now be seen as going through its golden age. A brief history of its successive transformations and progresses achieved by its author, Pierre Gy, and his followers, reveals the theoretical as well as practical difficulties that had to be vanquished to reach this point. Its current level of acceptance and corresponding trends are discussed and illustrated, with an insight on its increasing real role in the industry and future prospects for its further development.

Jan 1, 2008

By D. G. Crosby

This paper defines the Canadian offshore areas, comparing the juridical continental shelf with the physical one. The question of jurisdiction and ownership is dealt with, and the setting out of resource administration lines to divide areas of federal and provincial administration is explained and illustrated. Offshore activity is reviewed and prospective areas for future work are mentioned.

Jan 1, 1969

By Hussey K. J, Morrison R. S

Recent mapping (1989-1992) by the Northern Territory Geological Survey in the Tennant Creek 1:250 000 map sheet area has resulted in substantial revision of the lithostratigraphy of the Tennant Creek Block (Donnellan, Hussey, and Morrison, in press). Briefly, the former Warramunga Group (Dunnet and Harding, 1967; Dodson and Gardener, 1978) is divided into the Warramunga Formation, and an overlying less deformed volcano-sedimentary succession, the Flynn Subgroup. The latter is conformably overlain by the Tomkinson Creek Subgroup of the Tomkinson Creek province in the north of the Tennant Creek Inlier. These two Subgroups constitute the Churchills Head Group which is essentially equivalent to the Hatches Creek Group of the Davenport province to the south of the Inlier.

Jan 1, 1994

By Edward P. Barrett

Iron ore, when subjected to reducing gases at a temperature suitable for reduction of the oxide but not high enough to melt the ore or metal formed, is converted into metallic iron. The product, being the original piece of iron oxide minus its oxygen, is sponge-like in appearance when viewed under a magnifying glass, and hence is called 'sponge iron. Sponge iron was probably the form in which some of the first iron was recovered from the ores. As early as the eighth century the Catlan forge developed into a low shaft furnace known as the high bloomary, in which iron was produced in the form of a pasty mass. These furnaces were increased in height, and with increased temperatures came the production of liquid cast-iron, at first undesirable because of lack of knowledge of methods for working it. In 1340 the first true blast-furnace was built iri Belgium. Some castings were made, but the greater part of the iron was converted into wroughtiron blooms by a crude puddling process. Charcoal was the universal fuel until the latter part of the seventeenth century, when coke was first used in England. Larger scale developments of methods of refining pig-iron followed. In I 885 Bessemer built his first converter in England, and within a few years the Siemen' s regenerative open-hearth furnace was developed, also in England, to produce steel. Then followed the enormous expansion in the metallurgy of iron. The idea of a direct process for the production of iron and steel has persisted during all of this time.

Jan 1, 1925

A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994

By Ralph C. Kirby

The U.S. produces about 34 percent of the world's aluminum yet must import 90 percent of the raw materials needed. There are abundant resources of aluminum-bearing minerals such as clay, anorthosite, alunite, shale, and dawsonite, but none of the numerous processes proposed for recovering alumina from them has yet proved economically competitive with the Bayer process using imported bauxite. To help develop an economically viable process for utilizing these resources, the Bureau of Mines is testing on a common basis several proudsing processing techniques. New improvements and approaches developed by industry and the Government are being evaluated on a mall scale to obtain enough information on which to form a judgment regarding the best processes for commercial adoption. A continuous miniplant having a feed rate of about 70 pounds per hour is being operated now to investigate the nitric acid process for recovering alumina from clay. Parts of this plant will be used subsequently for work on other processes for recovering alumina from clay, anorthosite, alunite, and dawsonite. Initial results of the operation and plans for the overall project will be discussed.

Jan 1, 1974

By P. H. Tolcher

Canada, as the Free World's largest mine producer of zinc and the third largest mine producer of lead, has a vital interest in the future growth in demand for these metals. This paper traces the development of lead and zinc consumption in the last two decades, both on a total-Free-World basis and by major market areas. How Canada, as a major mine producer, has shared in this growth is also indicated. In addition, future consumption for both metals in the current decade of the 1970's is fore-cast. The demand these projections will make on Free World mines, particularly on Canadian mines, is examined. Some of the opportunities and challenges the Canadian mining industry will likely face during this period are also dealt with.

Jan 1, 1971

By K. Huang, L. Pan

"Darcy’s law has been used extensively to model cake filtration. It is a macroscopic model, in which particle size dominates the kinetics and cake moisture. In the present work, a capillary flow model has been developed from first principles to study the effects of microscopic parameters such as capillary radius, boundary layer slip, disjoining pressure, and surface tension that may be important for dewatering ultrafine particles. Laboratory-scale pressure filtration tests show that dewatering kinetics is strongly dependent on capillary radius, which in turn is influenced by surface hydrophobicity, surface charge, and length scales of particles. The model parameters determined from laboratory-scale filtration tests show that use of a hydrophobizing reagent can greatly improve fine particle filtration due to increased slip and decreased capillary pressure. The kinetics of dewatering kaolin clay is fastest at a pH where the layer-structured particles coagulate with a face-to-edge orientation. The capillary flow model developed in the present work may be useful for designing filters and optimizing operating conditions.INTRODUCTIONIn 2014, Canada produced 2.2 million barrels per day of crude oil from the oil sands resources in Alberta, which is expected to grow to 3.2–4.0 million barrels per day by 2030 (CAPP, 2013). One of the challenges to meeting these projections is the tailings management. At present, the industry uses ?77 km2 of the lands to construct tailings ponds. Significant amounts of the tailings disposed to the ponds are silts and clays that are slow to settle and consolidate, creating problems for reclamation. It is, therefore, the objective of the present work to develop a filtration model that may be useful for developing advanced dewatering technologies that can address the tailings management issues.Darcy’s equation is the governing law for filtration. It was derived as an empirical model by H. Darcy in 1856 while he was studying fluid flow in sand filters (Hall, 1956). Since then, many investigators derived it from first principles. It relates superficial fluid velocity to the pressure drop across a porous medium of known permeability. In filtration, the latter can be related empirically to particle size using the Kozney equation (Yoon, 2005)."

Jan 1, 2016