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By N. Nemeth

A brief summary of available filtration research is given. Its usefulness and shortcomings to practical application are examined and suggestions for new avenues of research outlined.

Jan 1, 1967

By Daniel T. Hegyan

The employment of continuous rotary vacuum disc filters to filter refuse from the fine coal washing circuits has been increasing as it has become more important to close the water circuits and eliminate sludge holding ponds. This paper will discuss our past experience filtering refuse, effects of solids concentration in the filter feed, use of polymer flocculation aids, effect of flocculation devices, and effects of particle size and ash content on the filtration rate. Detailed tests were performed on existing installations utilizing coal refuse filters to determine optimum flocculant dosage, solids concentration, and disc rotation speed to form a dischargeable cake. Information was also obtained showing effect of flocculant addition on the moisture of the filter cake. Our test work has shown that the continuous filtration dry cake rates for fine coal refuse correlates very well with the data developed and presented by Silverblatt and Dahlstrom1 except that the curves have moved up the scale by use of polymer flocculant additions. These polymers were not available at that writing. Finally, our tests also confirmed the general premise stated by S. K. Mishra2 that controlled additions of polymer flocculants will reduce filter refuse cake moistures somewhat.

Jan 1, 1974

By Peter Ay, Florian Logsch, Satyanarayana Narra

"The traditional lignin separation process from the precipitated suspension creates severe filtration problems by plugging of the filter medium due to the small particle size (20 to 60 µm) of the suspended lignins. The plugging causes further problems in the successive processing of the filter cake. A new lignin separation process has been developed at the Brandenburg University of Technology (BTU) Cottbus as a part of the Research and Development and Demonstration (R & D & D) project "LignoBioFuel". The new developed process separates lignin in the form of granules with diameters ranging from 100 µm to 300 µm. The restrainment of the granule’s size in their successive treatments is expected to result in higher filtration efficiencies and reduction in plugging of filter mediums. To evaluate the filtration efficiency, the filtration resistance of the produced granules as well as the conventional suspensions has been investigated. The results show that there is a 60 to 80 % filtration efficiency increase and around 60 % reduction in plugging of filter mediums with the lignin granules in comparison to the conventional suspensions. Furthermore the successive processing of lignin granules was easier due to their porous structures removing the impurities such as adherent acids and salts. The purity of the separated lignin was measured with their sulphur (reduced from 7 % to 2.7 %) and ash (reduced from 46 % to 0.5 %) contents. The newly developed process has displayed better results in comparison to that of the conventional process. The new process displays high potentials in optimizing and improving the present state of the art treatments and is promising several ecological, economical and environmental improvements."

Jan 1, 2014

By G Bickert

Australia is currently developing and engineering a range of specialised processing options for rare earth (RE) (Lynas, 2011, Alkane, 2005), zirconia (Alkane, 2005), lithium (Galaxy Resources, 2008) and other special minerals and metals required in high-tech applications. The processing of lithium, zirconium and RE minerals is based on complex leaching processes which require extensive liquor clarification, solid liquid separation and solids washing. The filtration properties for those leach liquors, residues and precipitates are not well understood and differ drastically according to the process route applied. Thus, filtration test work is essential for equipment selection, sizing and design. Similar types of slurries are filtered in laterite nickel, TiO2 and other chemical oriented processes, while more experience is available here as those processes are applied widely for a number of decades. The increasing need for dry stacking of tailings requires advanced tailings filtration with properties differing drastically depending on tailings properties. More traditional mineral processes such as flotation commonly apply filtration. All of these and other cases require proper filtration test work particularly evaluation of vacuum versus pressure filtration and the need for cake pressing and/or air blowing for filter presses. Bench scale test work and/or pilot plant operation is common to determine filtration rates, achievable cake moisture and wash efficiencies and sometimes filtrate clarity. While those values are important, there is much more valid information to be obtained by filtration test work.This paper discusses the intricacy of filter selection and sizing based on driving forces (vacuum and pressure air, compression by mechanical means and slurry) and parameters (cake thickness, forces and times) and different processes utilised in common filtration equipment. It will discuss the in’s and out’s of filtration test work design, planning, and in particular data gathering, processing, reporting, evaluation and filter sizing from recent examples of bench and pilot scale filtration test work for above applications together with methods for predicting filtration performance for example where test work is lacking. One focus will be the realistic extrapolation of test work results towards different parameters utilised in full scale equipment and plants. The conclusion of the paper will contain checklist for filtration test work.

Aug 8, 2011

By Ivan R. Jankov

No setor industrial no mundo todo, são exigidas as emissões cada vez mais restritivas. Nas plantas onde o Precipitador Eletrostático já está instalado, a solução com o melhor custo-benefício para reduzir as emissões de material particulado abaixo de 20 mg/Nm3 é com o Filtro Híbrido. Esta tecnologia consiste em combinação dos princípios de operação de um Precipitador Eletrostático (utilizado na entrada do sistema), com uso de campo elétrico para separação de material particulado do fluxo gasoso, e de um Filtro de Mangas (utilizado na saída do sistema), com uso de tecido para retenção de material particulado. Salienta-se que a viabilidade de implementação do Filtro Híbrido depende da configuração original do Precipitador Eletrostático (i.e. altura das placas, número de campos, largura da carcaça) que determina o espaço disponível para mangas, bem como as velocidades máximas do gás dentro da carcaça. Na indústria siderúrgica, este tipo de retrofit já é utilizado em planta de sinterização, mas também é aplicável para despoeiramento de fornos de cal e de plantas de pelotização.

Oct 30, 2017

By AIME AIME

The following abstract of the minutes of the final Adjourned Annual Business Meeting, held Nov. 12, 1912, in the office of the Institute, 29 West 39th Street, New York City, is here presented for the information of the membership at large. On the announcement by the Secretary that there was a quorum present, President James F. Kemp called the meeting to order. The minutes of the Adjourned Annual Business Meeting of Oct. 7, 1912, were read and approved. (Sec p. xi,Bulletin No. 71, November). Prof. Jos. W. Richards, in behalf of the Special Committee of the Board of Directors and the Council (Messrs. Richards, Kirchhoff, and Rand), withdrew the two proposed amendments to the Constitution offered by the said Committee at the Adjourned Annual Business Meeting of Oct. 7, 1912. (See Bulletin. No. 70, October, 1912, p. vi., and Circular Announcement No. 8, Oct. 15, 1912, p. 15.) Professor Richards presented a syllabus of the proposed amendments to the Constitution and By-Laws prepared by the Special Committee. Several members present discussed various sections of the proposed Constitution, and the Committee advised that the suggestions would he duly considered before submitting the final document, which would be duly presented and sent to the membership at large at least 30 days before the next Annual Business Meeting, Feb. 18, 1913. Professor Richards presented a resolution, seconded by Mr. Kirchhoff, making a change in the present Certificate of Incorporation, so that it would conform to the proposed changes in the Constitution and By-Laws; said resolution was unanimously adopted. Professor Richards presented another amendment to the Constitution, which had been purposely omitted from the printed list, but had been requested by many members, namely, the creation of a " Class of Fellows." This question was freely discussed at the Cleveland meeting (see Bulletin No. 71, November, 1912, p. 1348), and in view of the diversity of opinion it was-decided to present it in separate form for separate action of the membership at large at the Annual Business Meeting, Feb. 18, 1913. In answer to question, the President announced that the proposed amendments to the Constitution and By-Laws presented by Messrs. Corning and Stone at the Adjourned Annual Business Meeting, Oct. 7, 1912, and published in Circular Announcement No. 8, Oct. 15, 1912, were still on record. Professor Richards presented a syllabus of the proposed amendments to the By-Laws, and several sections were discused by members present, but no action of record was taken. Mr. Charles F. Rand read a letter from Mr. L. K. Armstrong, Sec-retary of the Spokane Local Section of the Institute, referring to the proposed amendments to the Constitution, and he announced that many of Mr. Armstrong's suggestions were, in one form or another, already incorporated in the proposed amendments submitted by the Special Committee. A special vote of thanks was passed to Dr. Albert R. Ledoux for the valuable assistance rendered by him to the Special Committee in the preparation of the proposed amendments to the Constitution and By-Laws.

Dec 1, 1912

By Patricia Pride, Mike Robison, Jon Bergenthal, Wojciech Klecan

"The Lower and Middle River Des Peres (LMRDP) CSO Storage Tunnel is the largest single component of Metropolitan St. Louis Sewer District’s (MSD) CSO control system improvements planned to meet consent decree requirements for MSD’s Lemay Service Area. The 13.7-km (8.5-mile) long, deep, hard rock tunnel will have a finished diameter of 9.1 m (30 ft). Beginning at the Lemay Wastewater Treatment Plant (WWTP), the alignment follows the channelized River Des Peres to the outfall of the existing Forest Park tubes, as indicated in Fig. 1.The project includes three construction shafts, 34 intakes and a deep, cavern-style pump station located adjacent to the WWTP. The tunnel will be driven from the Defense Mapping shaft to the Macklind shaft. Another shaft is located near the midpoint at the tunnel in River Des Peres Park.The Forest Park intake, located at the upstream end of the tunnel just beyond the Macklind shaft, is a large, tangential vortex intake structure. With a peak flow rate of 170 m3/s (6,000 cfs), it will have a 6.1-m (20-ft) diameter dropshaft to transfer flow into the tunnel.The project includes another three large tangential vortex-flow intake structures with peak flow rates ranging from 28 to 44.5 m3/s (990 to 1,570 cfs). These large intakes are located at points where three large sewers (formerly creeks) enter the River Des Peres. Dropshaft diameters for these intakes range from 3 to 3.7 m (10 to 12 ft) in diameter. The 30 remaining intakes are smaller tangential vortex-style, with dropshafts in the range of 0.8 to 1.7 m (30 to 66 in.) in diameter.Each intake structure drops flow into a deaeration chamber constructed adjacent to the tunnel at tunnel depth. Intake tunnels transfer flow from the deaeration chambers to the main tunnel. Most of the intake tunnels are short. However, two are long. The Glaise Creek tunnel will extend 762 m (2,500 ft) from the main tunnel to the Alaska Park intake, while the Rock Creek tunnel will extend 823 m (2,700 ft) from the main tunnel to the Rock Creek intake. The dewatering pump station, located at the downstream end of the tunnel, will be built inside a large, horseshoe-shaped cavern with two access shafts. Excavation of the cavern and its access shafts will be performed by the tunnel contractor. Build-out of the dewatering pump station will be performed under separate contract."

Jun 1, 2019

By Christophe Bragard, Rebecca Reeve

The Regional Connector Transit Corridor (RCTC) Project is a 1.9-mile-long metro light-rail extension project that traverses the historical core of downtown Los Angeles, California. This project aims to improve mobility throughout downtown LA with fewer transfers for riders. It is designed to connect two existing rail lines for a more seamless travel. The project consists of twin bore tunnels, three new stations, and is scheduled to be completed in 2022. The design-build contract was awarded to the Regional Connector Constructors (RCC) in 2014, a joint venture of Skanska and Traylor Bros, Inc. with Hatch Mott MacDonald as the designer. One of the challenging aspects of the project was the construction of a crossover cavern in a narrow public right-of-way surrounded by historical structures. RCC used Sequential Excavation Method (SEM) to construct the crossover cavern measuring 287 ft long by 58 ft wide by 36 ft tall. The initial lining of the cavern featured a 12 in. fiber reinforced shotcrete lining. The initial lining was separated from the final lining by a hydrocarbon resistant membrane, as specified by the standard requirements of Metro. The cavern features a cast-in-place final lining with a thickness of 5 ft 9 inches in the invert and 18 inches in the crown and walls. The structure also features a nonload bearing plenum slab and interior walls for ventilation.

Jun 13, 2021

By K McSweeney, A Marton

This paper discusses the development of a strategy for ensuring long-term geotechnical stability of final pit walls at AngloGold AustraliaÆs Sunrise Dam Gold Mine. The strategy makes use of improved blasting techniques, changes to the mining sequence and other geotechnical techniques. Only the blasting techniques will be discussed in this paper. These were developed from numerous trials over a period of several months from May 2003 through to November 2003. The focus was to reduce crest loss damage and thereby improve final wall integrity, maintain designed safe berm widths, and ensure long-term stability. Crest loss mechanisms are now understood and are explained in this paper. The preferred solution is outlined; which is a combination of improved blasting and changes in the mining sequence to cater for pre-existing ground conditions. These ground conditions include dynamic hyper saline water with sometimes intersecting steeply dipping discrete structures. Project requirements were defined as mitigating or eliminating crest loss using 127 mm diameter pre-splitting and targeting minimal production blasting vibration levels against the walls. Blast results were measured by post blast visual inspections and video. Blast design input utilised the predictive algorithms built into simulation software when attempting to minimise vibration levels against the walls. Protection of the already fired pre-split line is now achieved using small charges against the wall and timing sequences which form a mask for the later firing main charges. The pre-split spacing is now modified to suit the geology. There eight blast domains identified around the perimeter of the pit, each having varying joint orientation. In addition, blasting the bench adjacent to the berm crest has particular considerations not required by the middle and lower benches. The preferred solution was to purposefully translate this damaged top section of the pre-split bench into a planned subsequent dig zone. The design of this top æweightÆ is a direct response to the nature of the crest loss mechanism.

Jan 1, 2004

By Mary Ellen Bruce Large

"In partnership with California Department of Transportation (Caltrans), Federal Highway Administration (FHWA), and with support from International Association of Foundation Drilling (ADSC), Deep Foundations Institute (DFI) organized a workshop on quality assurance (QA) practices for acceptance of post-grouted drilled shafts in conjunction with DFI’s 40th Annual Conference on Deep Foundations. The 1½-day workshop was held on October 15-16, 2015 at the Oakland Marriott City Center in Oakland, CA.Post-grouting, in the context of this workshop and report, refers to the alternative design and construction of base-grouted drilled shafts wherein a grout distribution system is installed during construction and used to grout the base under pressure after the drilled shaft concrete has gained adequate strength, resulting in a stiffer axial-compression load-displacement relationship and additional possible ground improvement effects.The primary goals of the workshop were to•?Identify and summarize the state of the practice for design, construction, inspection, verification, acceptance criteria, reliability and performance of post-grouting.•?Identify gaps and needs in quality assurance that should be addressed for successful use of post-grouting.This report is structured to follow the workshop program: workshop presentations outlined the state of practice and views from owners, engineers and contractors on acceptance of post grouting methods for drilled shafts; and subsequent workshop discussions attended by a small invited group of participants focused on identifying areas of agreement and disagreement on post-grouting best practices, acceptance criteria, design and verification procedures, and inspection requirements. A partial list of attendees of the open and closed sessions is provided as Appendix A, and copies of presentations are included as Appendix B.FHWA and Caltrans are the primary audiences for this report, and its content will be used to develop a roadmap for deploying the findings into policy and practice. The secondary audience is the broader industry group, and the report content will be disseminated in a variety of formats."

Jan 1, 2016

By Kazem Oraee

Implementing stable final pit walls in open pit mines during the open pit design phase and mine exploitation has become one of the most important concerns of mining engineers in recent years. Failure of mine walls can potentially cause loss of life, roads blocks, and damage to mining machinery, temporarily or permanently halt production at the face and in the worst case scenario, close the mine. Thus, the role of creating stable mine walls is crucial to safety and general operations of mines and any effort to optimize this process has great economic value for mine operators. This paper aims to illustrate the technical aspects of use of the successful presplit blasting method in metal open pit mines. It also shows that using this approach not only increases safety in mines through wall stabilization, but also will boost economic profits by savings in stripping ratio. In this regard, appropriate practical concepts for designing the drilling and blasting patterns and the role of selecting the correct drilling rigs are elaborated in detail through conducting a case study in Chador Malu iron ore mine in Iran.

Aug 1, 2013

By A. H. C. A. Zimmerman

WE have just heard what must be regarded as a thoughtful, constructive and somewhat painful analysis of the financial function of our industry. While thinking about this, it is interesting to reflect on the conditions which have stunted the growth of the financial side of our affairs. Mining must be regarded as a wealthy business. •while immeasurable grub takes and development budgets have been lost, there can be little argument that a productive ore-body nearly always produces the type of wealth that breeds some extravagance. I recognize that this statement can be attacked from many sides, but an historical comparison with a commercial enterprise involving similar investment will demonstrate what I mean. However, these old times are be-ginning to disappear for a variety of reasons. High amongst these are: ( l) Increased costs of exploration. (2) Remoteness of many new finds. (3) Fixed or declining metal prices (particularly when expressed in constant dollars). ( 4) Constant demands for higher wages.

Jan 1, 1962

By C. M. Jones

The training program developed at Sierrita over the last twelve months has led to several significant improvements in both safety performance and productivity. Our most easily quantified results have been in truck productivity, where we have also experienced a 6% decrease in truck cycle times. We feel this is due to increased skill levels and awareness on the part of our operators due to our new training effort. The cycle time improvement has resulted in an increase in Truck productivity of 6%. Costs associated with productivity training have been $160,300. This includes program development and execution costs, as well as lost productivity during the training itself. These costs are offset by $1,400,000 in savings directly attributable to the increased skill levels of our technicians due to our training effort. As such, this represents a solid, high return investment at Sierrita.

Jan 1, 1998

By William Mayrsohn

INTRODUCTION The net smelter return (NSR) calculations made on various smelter-refiner alternatives, is usually done by taking the gross metal value less metal deductions, smelter-refiner charges and transportation-insurance costs. An important further step in the calculations is the financial charges imputed by refining time, transportation delays, to the time gold is returned (if tolled) or paid for if bought by the refiner. Metal that is priced in advance of payment also requires a forward premium that the mine may or may not be getting. This is a hidden cost that is often omitted from the calculations. Segmentation of each of the above costs are vital to see where improvements can be made through negotiations, better choice of metal pricing or transportation alternatives. BASIC NSR CALCULATIONS SMELTER-REFINER CHARGES Payable Metals - Treatment Refining Charges: Since these can vary from one smelter to another, the effect of a $25 per ounce price increase/decrease should be calculated and kept in mind. This effect is compared to differences in refining/treatment charge and a total smelter/refiner cost on a cost per ounce of dore, gold, or a dry ton of concentrate. Transportation - Insurance: Research has to be done on transportation alternatives perhaps with some assistance from the smelters, railroads or trucking companies. For dore, the U.S. postal service is viable and inexpensive. For railroads, deal with the regional office ie., B&N El Paso, if production warrants regular bulk shipments. Spot rates tend to be higher. A small mine producing concentrates usually goes to the nearest smelter due to extremely high transportation costs. Here is where a refiner can help. Insurance-Quotes for rates on dore/ concentrates are easily obtainable, but the mine has to shop for the best rates. Your insurance broker is the best source of this information. Differences between Mine and Smelter/Refiners Metal losses can be caused by the following: - Concentrate dry weight differences caused by moisture determination or faulty scales (often at the mine). - Sample bias by poor preparation practices on either side ie., grinding of the sample removing gold; or a poorly mixed concentrate. Dore bullion has no such difficulties.

Jan 1, 1987

In constructing a financial model of a project significant effort is expended on capital and operating cost estimation, commodity price forecasts, and choice of discount rates while uncertainty in the primary input, the reserve, is often completely overlooked. The aim of this paper is to highlight the impact of uncertainty in the resource/reserve estimation process on the assessment of the financial performance of a project. Four qualitative processes have an impact on resource/reserve uncertainty. These stages are: 1.Ore definition 2.Geological interpretation 3.Resource estimation 4.Ore reserve estimation and mine planning. Each stage contains a number of tasks that may be considered as key performance activities (KPAs). Optimizing the manner in which these KPAs are completed can remove a great deal of uncertainty and error from the resource/reserve process. Examination of these KPAs within a company can also provide an insight to the quality of the information underlying the project. This will allow the company to identify any shortcomings in the data and to assess the resulting risks (Gilfillan, 1998). A hypothetical financial model based on a gold operation has been used to estimate the potential effect of resource/reserve uncertainty on revenue. Monte Carlo simulation has been employed to simulate a number of hypothetical scenarios: 1.a base case scenario which assumes no major errors or biases, but contains realistic margins for uncertainty that would exist in any project where work is being completed to the limit of best endeavours 2.a poor sampling scenario which assumes poor sampling practice and lack of understanding of sample preparation 3.a poor resource estimation scenario which assumes poor modelling and inappropriate choice of interpolation technique, and 4. a ?typical? scenario which represents a project where the majority of KPAs are not performed as best as they could be. The results show that realistic uncertainty ranges can generate changes in the estimate of potential revenue of plus or minus 30%.Therefore, it is important to allow for errors in these processes in any financial analysis or feasibility study. It is recommended that, when building a financial model, are view of relevant resource/reserve KPAs be carried out and appropriate ranges for uncertainty be applied to provide a range of potential outcomes. These outcomes can then be factored into the detailed cash flow analysis in order to ensure that technical uncertainty is built into financial decisions.

Jan 1, 1999

By Peter J. Maxworthy

INTRODUCTION There is no hard and fast rule on whether functions within a company, diversified or otherwise, should be strongly centralized or decentralized. In all diverse organizations, there are certain basic functions which remain common (or central) to each element of the business, viz: Personnel Management Cash Management Taxation Management Legal Planning Accounting Standards It would follow that each of these common factors requires some supervision at a central level to ensure that overall group objectives are met. It is true that other functions including: Industrial Relations Marketing and Distribution Production Research and Development Purchasing Management Accounting may also be common to each element of the organization. However, there is far less commonality in the degree to which these functions are central to the efficient performance and financial well-being of the business. Role of Operating Units The resources of operating centers may be viewed as a bank of funds, the nature of which can be changed from time to time, but the employment of which must provide for ongoing increases in the net worth of the total enterprise expressed in terms of market values. Operating units are required to continually review products, methods, and opportunities and to monitor avenues for incremental investment--all with a view to attaining the necessary additive net present value of future cash flows of the enterprise. Operating units should be permitted sufficient autonomy to enable the best use to be made of the skills and experience of the people it employs in order to produce a return appropriate to the value of assets employed. Role of Head Office The head office will typically comprise a specialist group--the leaner the better if one strongly adopts the decentralist approach--often acting as Service Centers but also performing a control function in the corporate sense. The head office function is a cost center. It may be instrumental in developing strategies for increasing revenues or reducing costs on a group scale, but it does not generate revenue. Every dollar spent on this function is an extra dollar to be generated by the operating centers in order to achieve an increase in corporate wealth. TREASURY MANAGEMENT Treasury management is concerned with the provision of finance, cash-flow management, and risk analysis. Each decision taken within the enterprise has a cash implication. It follows that a well-integrated central Treasury function can, in all likelihood, produce economic benefits. The degree to which the function should be centralized depends largely upon the unique nature of the operating units it is servicing. Levels of ownership, the calibre of unit operating managers, and the nature and geographic distribution of the business are all factors determining the degree to which the Treasury function is centralized. In the case of Peko-Wallsend, the Treasury Department is small, comprising four people. While divisional cash-flow management is largely decentralized, Treasury is responsible for the daily management of funds surplus to the immediate needs of operating units. Treasury also operates as central banker and provides funds to

Jan 1, 1985

By S G. Gemell

"The financial model is an integral component of any project evaluation based on mineral resources, ore reserves and (at least internally) exploration targets. Given the unity of purpose for preparing financial models for project evaluation purposes, the diversity of both format and content of the finalised models is surprising. Many models are prepared by staff or consultants who are comfortable with a particular format that may be used for other purposes, such as budget preparation or financial reporting. It is natural in these situations that the practitioner will take these models and adapt them to the purpose. The end result may or may not succeed in providing a clear, accurate and sufficiently detailed view of the project’s economic viability.When preparing a model, the practitioner should be cognisant of the interpretation and review, or audit, process. The auditor may be a consultant or employee of a bank, potential equity provider or of the project sponsor itself. Depending upon the scale of the project and the level of participation of the entity that the auditor represents, the financial model will be interrogated more or less rigorously. In any event, the end user will require the model to permit easy change of inputs and will wish to confirm that such change is appropriately and thoroughly transmitted throughout.Accordingly, there are some ‘dos and don’ts’ that can be readily applied in the creation of the financial model that will greatly assist the end user, not just in the change of inputs, but also in reviewing the model’s integrity. The less time and effort required by an auditor in this regard is reflected directly in the cost of the review process.CITATION:Gemell, S G, 2016. Financial modelling with the auditor in mind, in Proceedings Project Evaluation 2016, pp 172–180 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By David M. Koogler

If you are contemplating starting a small coal mining operation there is a good possi¬bility that you can not afford it. If you, have already started, you may be on the road to bankruptcy. If you are a small but well established operator you may be trading dollars, or even dissipating your capital, equipment and other assets. A bleak outlook? Yes! Meant to be discouraging? No! Just a reminder that, with todays costs of doing business, high interest rates, rapidly increasing costs and decreasing sales prices, a small businessman/miner had best watch closely or he will be mired in something worse than a soft bottom - namely a cash and credit shortage, and in too many instances In recent times, bankruptcy. We will not dwell on what happens once you are that far gone, though I could cite a good example. But, let us look at what should be done to avoid such a catastrophe.

Jan 1, 1981

By M. Somppi, D. Weirmeir, Z. Yamak

"Milling operations commonly employ activated carbon to capture complexed gold from lixiviants in leaching processes. As the carbon moves through pipes, pumps, vessels, kilns and other processes in the gold leaching circuit, this consumable may experience losses by various mechanisms like attrition, breakage, and rupturing. Whenever possible, capturing the fine gold-bearing carbon portion of this stream could provide value to milling operations at low capital cost and manageable financial risk. Identifying, testing, and validating the successful payback of a low-tech flocculant system is described. However, the work more closely explores a Monte Carlo risk-based methodology for understanding the potential payback of this project at various confidence levels – an approach that many improvement projects can follow where some level of uncertainty exists.INTRODUCTION Gold milling operations commonly employ activated carbon to adsorb gold from solutions. Normal handling causes the carbon particles from this material to abrade, break, rupture to a size that becomes too small for further use in the process. Operations often concentrate on capturing the fine particles because gold is associated with the carbon and this metal content can be a valuable revenue stream for toll processing. However, the small particle sizes become difficult to separate from the process and can ultimately leave the facility in the waste stream. Hence, operations often place a great deal of care in capturing as much fine carbon as possible by a variety of methods including using screens, settling tanks, and chemical methods. Retrofitting a circuit to capture more carbon fines is common but can expose the operation to financial risk. Approaching this potential improvement by leveraging a Monte Carlo methodology can be effective in understanding the risk and the associated payback of a project at various confidence levels. This method provides a strong framework for capital go-no-go decisions and the structure to validate the potential project success before implementation."

Jan 1, 2019

By Peter J. Szabo

The mining executive works in a cyclical industry. His employment is subject to the vagaries of the marketplace. Boom and bust has always been the industry's story. "Big oil" failed in its mining effort. This left emotional and financial scars on many mining families. One must remember that mining executives always play a high-stakes game. Given the cyclical nature of the mining industry, mining executives need to take care of their own financial security. The mining executive that does not plan for his financial security in this cyclical business is playing Russian Roulette with his future. Take a look at those people who have reached their later years with the mining industry. One usually finds three categories of people. Those few in the first group have been fortunate enough to have worked for one company. They have survived the winnowing process of cyclicality, political problems, and takeovers. They have reached normal retirement age. For them, the retirement years are usually comfortable. People in the second group have worked for those same mining companies. But these people have been forced out by early retirement. Or they have been laid off for cyclical, takeover, or political reasons. The third group includes those who have held many positions in the mining industry. Probably not until their later years are they fully vested, if at all, in a pension program. The first small group, then, is the exception. The others, unless they have taken care of their financial security, are doomed to later years of financial problems, stress, and unhappiness. Too late in life, many realize the harsh realities of failure to plan and implement a personal financial program. Mining executives go to some of the world's leading mining schools, to learn how to make money. The curriculum is technically strong. Most mining graduates are familiar with the intricacies of discounted cash flow, present value, and the Hoskold formula. But few of these same mining schools require courses on personal financial planning. Such courses could give mining students a realistic foundation and the mechanisms with which to cope with their cyclical profession. An executive has only three sources of money. He can make money at work. He can put his money to work. Or he can get money from charities, such as government programs. Of these three sources of money, money at work has the best chance of providing financial security in later years. The mining executive must think of the day when he will be too old to work and contribute to the market place. At this point, the quantity and quality of his investments will determine whether his later years will be secure. Along with the Mining Engineering Handbook, two key books should be included in the mining executive's library. These are Venita Van Caspel's The Power of Money Dynamics and Benjamin J. Stein's Financial Passages. These books contain the basic concepts of personal financial planning so critical to an individual's financial survival. Venita points out the simple formula that is the key to financial independence: Time + Money + American Free Enterprise (Rate of Return) = Opportunity to Become Financially Independent Chart 1 shows that this is not a trite formula. The chart shows the dramatic effects of compounding over time. The chart also shows at various yields what a $2000 a year Individual Retirement Account (IRA) contribution will accumulate. Chart 1 (from Money magazine) is based on the future value of an ordinary annuity. It shows that the key to amassing a small fortune by the time a person reaches his 50s is starting to save methodically in his 20s. This, coupled with the highest yields consistent with safety of principal will ensure financial security. There are significant effects from compounding money over time. Every year the decision is put off to save for later years will cost a person dearly by the time he reaches his 50s. For example, consider the decision to put off for one year a $2000 IRA investment at a 12% return. Starting it at age 31 instead of 30 will cost the executive almost $100,000 by age 65. What if the executive waits until age 35 to get started with his $2000 a year investment? He will then lose nearly $400,000 by age 65. Stated another way, the executive costs himself this $400,000 simply because he did not invest $167 a month for five years. $167 a month - that's less than an inexpensive second car payment. This $400,000 pool of money could provide the executive a $40,000 a year income at age 65, assuming a 10% return on invest-

Jan 11, 1985