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INTRODUCTION Trade financing is a particularly important component of short-term financing for a minerals company since errors, extra costs, or payment delays/defaults can easily wipe out the profit margin on a particular shipment or can cause problems when arranging purchases of e.g. reagents. It is required to make any minerals operation function and does not have to be cross-border to require proper management. Sources of working capital are as follows: 1. Extended credit terms from suppliers 2. Inventory loans from banks, finance companies 3. Accounts receivable financing or factoring 4. Credit lines or overdraft facilities from banks. TRADE CREDITS These are provided under the familiar terms "net 10 days" or payment due by the "10th day of the following month." Thirty days for payment is usual but longer periods can be negotiated with regular suppliers. Shipment may be made on open account with specified periods for settlement. In the mining industry, a custom smelter gains trade credit by paying for concentrates three months after the month of shipment. INVENTORY LOANS Various forms of inventory finance are provided via "floor-plan" or warehouse financing. A set percentage, usually 60%-80%, of a good-quality, readily saleable inventory item (e.g. bullion, concentrates, ingots) will be provided by a bank or finance company which will usually have security over these products and has a right to inspect the goods from time to time. Legal security will he achieved by warehouse receipts, floating liens, chattel mortgages, trust receipts, or through collateral management service companies. The latter certify control over stock or distribution outlets and often carry insurance against fraud. Costs range around 1.5% - 2.0% p.a. or more plus some fees to cover out-of-pockets or other costs. ACCOUNTS RECEIVABLES Accounts receivable financing is based on the company's generation of satisfactory receivables which are continuously assigned to a bank or finance company ("factoring"). Because of the risks in being able to collect receivables, such as payments to a smelter for its blister copper shipments to a refinery, this form of financing costs as much as 3% - 5% of the debt amount purchased plus an additional charge for processing paperwork. Receivables can be purchased with or without recourse and on a notification or non-notification basis to the client's customer to, respectively, pay the invoice directly to the bank or not. LETTERS OF CREDIT Letters of Credit ("L/C's") are a common feature of international trade finance whereby a bank, at the request of the buyer, issues a written undertaking to an exporter to pay a specified sum of money within a set time on presentation of previously specified documents. This undertaking means that the exporter is no longer relying on the credit standing and integrity of the foreign importer. A dispute about shipment does not otherwise affect the obligation to pay upon presentation of a "clean" set of documents. These documents include the hill of lading and other documentation, often on standard "form" bases. There are a number of conventions and techniques in L/C's such as irrevocable/revocable L/C's, time L/C's, confirmation/advising L/C's and transferable L/C's. These are tools to adjust for the varying risks that the importer will not pay. Other routes where one is comfortable with an importer include documentary sight hills (D/P hill), documentary term bills (D/A bill), and, of course, open account.

Jan 1, 1985

By R. C. Wallace

It was to be expected that the convening of the first Empire Mining Congress in June, 1924 in the city of London would turn men's thoughts very definitely to the question of exploring the mineral resources within the British Empire, the examining of her strength and her weakness in mineral material, and the consideration of steps that might advisedly be taken to strengthen her trade in minerals. That expectation was in part realized, though in the British way of presenting the case, and permitting the inferences to be drawn by implication. The opening address by the President of the Congress, to whom the Empire meant so much, gave a résumé of the contributions to the mining industry which were being made by the constituent parts of the Empire. The papers from the Institutes in Australasia, South Africa and Canada provided the details of resources and practice: while the individual contributions to the proceedings dealt with those phases of the mineral industry which are fundamental to the economic strength of British people, or to the health and well-being of the workers. While the subject matter thus presented was British mineral resources, and while the first consideration was the co-ordination and co-operation of British enterprise throughout the world, there emerged very clearly the wider viewpoint that the discussions had to do with a world industry, and with the contributions that that industry was making, and could further make, to the advancement of civilization irrespective of national boundaries, the world over. The invitations to representatives of the mining industry from the United States to participate in the Congress, and the warmth of approval which that participation evoked, were indications that such a congress cannot to-day be merely national in scope, and that trade in minerals, as in other natural resources, cannot be confined within national boundaries, but will seek its channels, unless artificial obstructions are too great, where the natural channels already exist.

Jan 1, 1925

By W. L. Saunders

THE world's greatest producing area is, geographically, in the midland region of North America about the Great Lakes. This area, with but one- third of the nation's population, produces, with the exception of tobacco and cotton, three-quarters of the principal staples. It provides the surplus or export grain, meats, dairy products, steel and leading minerals. The social and political condition of a nation is determined by its industrial efficiency, and the share of the commerce of the world obtained by a nation is fixed more by the economy of its transportation than by any other factor. It is an economic maxim that: The total cost is the cost of production plus transportation cost. The cost of carrying 1000 tons by water or 100 tons by rail is equal, over the same distance

Jan 1, 1921

The resource industry must prepare for the inevitable shift towards automation as an operational objective. Although this may seem like a distant concern, many mining companies and equipment manufacturers are already conducting full-scale automation trials. The necessary technology is advancing at a rapid pace yet the training of people to support it at the trade level lags far behind. Those given the responsibility of installing and maintaining automated equipment in the mining environment require a unique set of skills and knowledge. These training needs demand attention to ensure that the wider uptake of automation is sustainable and achieves its full potential.   This paper documents work undertaken by CRCMining and the Mining Industry Skills Centre towards establishing a training framework seeking to address the needs of trade level personnel tasked with the support of automation equipment. A comprehensive definition of the skills and knowledge required by the hypothetical automation-specialised tradesperson is presented. The training pathway identified for these personnel is also described. This work forms part of the Mining Industry Skills Centre's Automation Skills Formation Strategy, funded by the Queensland Department of Education and Training.

Jun 1, 2010

By Lucien Duckstein

The purpose of this paper is to give recommendations for utilization of water resources in a mining region, considering also water supply and environment; the case study of mining for coal and bauxite under the karstic aquifer of the Transdanubian mountain of Hungary is used to illustrate the approach, which consists in formulating a static multiobjective control model and solving it by compromise programming. The three activities of regional mineral resource exploitation, water supply and environmental protection are represented by different objectives which cannot be expressed in commensuerable units. Thus, a solution which is optimal for one objective is usually far from being optimal with respect to the other two objectives. As a result, we are not seeking an optimal solution for the conjunctive regional system, but a good compromise, trade-off or "satisfactum" (1), (2).

Jan 1, 1979

The Lane Cove Tunnel (LCT) is an important infrastructure link in New South Wales (NSW) and runs from the end of the Gore Hill Freeway at Artarmon at its eastern extremity, to the end of the M2 at North Ryde at its western extremity.  The LCT is 3.6 km long and generally consists of twin two/three lane unidirectional tunnels running largely under Epping Road from just east of Mowbray Road, west to the western end of the Gore Hill Freeway. The tunnel opened in early 2007. The presentation will provide a summary of the traffic and emission modelling performed for selected representative surface road sections in the vicinity of the Lane Cove Tunnel. An assessment of the predicted impact of vehicle emissions on ambient air quality in the corridor as a result of changed traffic conditions due to the tunnel opening will be presented. The traffic modelling and emission calculations were undertaken for the following two scenarios: Year 2006 û Lane Cove Tunnel no-build option, and Year 2006 û Lane Cove Tunnel build option. Vehicle emission calculations for the four main pollutants from vehicles: CO, VOC, NOx and PM10 on the surface roads in the vicinity of the Lane Cove Tunnel were performed using the predicted daily traffic for the two cases (no-build and build). The analyses indicated that the vehicle emissions for all pollutants are expected to significantly reduce in the corridor with the building of the Lane Cove Tunnel, including the areas in the vicinity of all tunnel portals, when compared to vehicle emissions for the no-build case.  As a result of the decreased vehicle emissions on the surface roads, the study concluded that the actual ambient air quality is expected to improve in the corridor including the tunnel portal areas after the Lane Cove Tunnel opening.

Jan 1, 2008

By Sven-Erik Johansson, Gosta Rundqvist, Donald Jonson

In Stockholm a new road traffic system called Södra Länken (Southern Link) will be in operation in late 2004. The total length of the road system is 6 kilometres of which 4,5 kilometres run through tunnels under suburbs immediately south of Stockholm inner City. The new traffic tunnels together with existing Metro tunnels, which mostly are in rock, will be the determining factor for blast design for many projects in the future. To set reasonable and safe permitted vibration levels the Swedish National Road Administration, Stockholm Region and Stockholm Transport Rail System have together financed a project to determine guide levels for blast-induced vibrations in traffic tunnels in rock. The purpose of the project has been to establish guide levels that are appropriate for different types of rock tunnels.

Jan 1, 2004

By Eleanor Sonley

In October 2000, temporary seismographic stations were installed above the Trail Mountain Mine, Emery County, Utah, USA to supplement a regional network. Over seven months, 1826 mining-induced seismic events were recorded with a magnitude range of M 0 to M 2.2 (Arabasz et al., 2002, 2005). Routine event locations for this dataset cluster around the longwall mining activity during the recording interval. However, applying a double difference relocation technique to the routine locations significantly improves the correlation between mining activity and event location. The resulting relocations depend greatly on station distribution and the number of arrival time picks. We use this dense temporary array to assess station distribution requirements for applying the double difference technique at other mines by systematically removing data from available stations, thus simulating sparser networks. The insight gained using the Trail Mountain dataset is used to develop a metric for assessing the usefulness of above-mine networks and to develop a tool for expanding seismic network coverage. To verify the appropriateness of these tools for wider application, we examine data from two additional mines located in the western United States. Improving the relative locations of mining-induced seismic events highlights the association of these events with active portions of the mine. Clusters, regions of quiescence and relative timing of events can be used by mine operators to assess hazard, optimize production, and evaluate performance of mine plans. The lessons learned from this study may be used in future network design to improve accuracy of event locations at other mines.

Jan 1, 2009

By Eleanor Sonley

In October 2000, temporary seismographic stations were installed above the Trail Mountain Mine, Emery County, Utah, USA to supplement a regional network. Over seven months, 1826 mining-induced seismic events were recorded with a magnitude range of M 0 to M 2.2 (Arabasz et al., 2002, 2005). Routine event locations for this dataset cluster around the longwall mining activity during the recording interval. However, applying a double difference relocation technique to the routine locations significantly improves the correlation between mining activity and event location. The resulting relocations depend greatly on station distribution and the number of arrival time picks. We use this dense temporary array to assess station distribution requirements for applying the double difference technique at other mines by systematically removing data from available stations, thus simulating sparser networks. The insight gained using the Trail Mountain dataset is used to develop a metric for assessing the usefulness of above-mine networks and to develop a tool for expanding seismic network coverage. To verify the appropriateness of these tools for wider application, we examine data from two additional mines located in the western United States. Improving the relative locations of mining-induced seismic events highlights the association of these events with active portions of the mine. Clusters, regions of quiescence and relative timing of events can be used by mine operators to assess hazard, optimize production, and evaluate performance of mine plans. The lessons learned from this study may be used in future network design to improve accuracy of event locations at other mines.

Jan 1, 2009

By Cliff Holloway

The past year has been difficult for Canada's primary industries. The mining, oil and forestry industries have been hit by low prices and a reduced demand for natural resources. Foreign competition, militant environmentalists, the breakdown of the Asian and European economies and Canada's shrinking dollar have all put additional pressures on the commodity purchaser to buy smarter. It is easy to appreciate why operations and maintenance supervisors want the best performing product. It makes good sense. The challenge is to source that quality product while staying within the budget. The bottom line (price), however, often becomes the control- ling factor, usually at the expense of quality and performance. This is short-term thinking, often with expensive consequences.

Jan 1, 1999

By Robert King

Splicing portable trailing cables used in underground coal mines is usually less expensive in terms of capital outlay and production time lost than replacing them. However, handling trailing cables may result in electrical arcs, shocks , and burns. Also, destructive forces encountered during a mining operation may shorten the effective life of a cable splice. This report gives the results of an analysis of cable splice defects in an effort to establish cable splice performance criteria, determine testing standards for cable splices, establish guidelines for training programs in cable splicing, and indicate areas for improvement.

Jan 1, 1975

By James L. Patton

Automation of mining increases the productivity of labor, thereby reducing the unit cost of labor. Such cost constitutes the largest portion of the direct or variable costs of producing coal. Therefore, any increase in productivity directly reduces variable cost. The large investment in mechanical equipment carries with it the burden of increased fixed charges. As the proportion of fixed cost to the total cost increases, the effects on the cost of production changes are amplified. Therefore, equipment must be fully utilized at all times. Averaged fixed costs rise with any decline in production. Such a situation forces coal companies to seek every means of main¬taining full production. Figure I will reflect the story on the relationship of production to cost.

Jan 1, 1962

By W. Blake McCullogh

It is often written that the purpose of any mining operation is to produce efficiently, safely, and profitably, and always to search for more efficient, safer, and more profitable methods. To provide for continual improvement, an attitude that is not only reasonable but also imperative, there is an obvious need for a high standard of competence among the ranks both of supervision and of those being supervised. It naturally follows that, to achieve this standard, planned training in every level of an organization is a definite necessity. There are many factors involved in the need for training, and the scope of a program is influenced by answers to such questions as: "What is the geographic location of the project?" "What are the duties of each job?" "What is the source of the working force and supervision?" "What are the hiring standards for various jobs?" "What is the availability of trained personnel?" "What is the availability of outside training facilities?" The approach in this chapter will be to consider a need for a maximum of training, and it may be applied by the reader to whatever extent is considered necessary in each individual situation. 14.2-1. Administration. It is a basic responsibility of every supervisor at all levels to train those who work for him. However in a very extensive training program, which involves supervisors and the working force, includes both compulsory and voluntary participation, uses outside and in-plant methods, and where the increasing complexity of jobs requires more specialization, the establishment of a training department is definitely war- ranted. This will consist mainly of instructors for related classroom training and preparation of manuals, etc., and the necessary clerical help. A training staff does not relieve the various departments of their responsibility to train, but it does have facilities, experience, and contacts that are inval-

Jan 1, 1968

By AIME AIME

THE value to the engineering profession of a liaison between the engineering societies of Russia and America, through Engineering Council, was the subject of a meeting in the Engineering Societies Building attended by over 500 persons. In introducing the subject, Mr. N. A. Stephanoff, President of the Russian Society of America, said: In Russia, engineers were divided into two classes: those who had graduated from the high technical schools and the practical engineers who had graduated from special technical schools. These technical schools were divided into three groups: The first corresponded to the German polytechnical schools with many departments, mechanical, chemical, metallurgical, mining, etc. The second group corresponded to the French special schools of the "Écoles des Ponts et Chaussées." "École des Mines." The third group was formed by the Military and Naval Academies of Engineers. In 1910, Russia's high technical schools had about 45,000 students, whose training covered a period of not less than five years, and who enjoyed all opportunities afforded by laboratories in no way inferior to those of Germany.

Jan 1, 1920

By J. E. Terry

This paper outlines the steps that are being taken to close the gap between training and industry and indicates areas in which more work needs to be done. Although based on experience in the Maritime Provinces, it is applicable to industrial and educational studies across the length and breadth of Canada.

Jan 1, 1970

By M. Poulton, J. A. Botín, C. Gatica

"The Chilean minerals industry faces a shortage of 27.000 new skilled professional by 2023. Enhancing the integration of women into the workforce is a possible solution. This study analyzes the state of women in the mining workforce over the past decade. Several key indicators are presented: percent in the workforce, salaries, career profiles, presence at management level, and participation in academia are studied. The study also analyzes the strategies used by government, industry, and universities to recruit and retain women for the minerals industry. The main results show that women represent 7.4% of the mining workforce in Chile and less than 1% of senior positions with a salary gap of approximately 30%. Systematically, women prefer professional programs in geology, chemistry, and environmental areas. The Chilean statistics are compared to data from the United States mining industry. INTRODUCTION The Chilean mining industry faces a significant shortage of professionals for the next decade which compromises competitiveness and productivity. The demand for human capital in mining depends on several factors. First, the age structure of workforce, which determines future retirement needs. Second, minerals market considerations, determining the amount and size of mining projects entering production in the coming years. Third, the evolution, positive or negative, of productivity, mainly driven by technology and innovation, and negatively affected by the declining ore grades. Finally, negative trends in lead times to production of mining projects, due to social opposition, changing regulations and other project contingencies, negatively affecting the demand for human capital. Regarding the supply of human capital, the fast increase in the technology level of the minerals industry and hence, the increase of technical qualification requirements of the human capital generates a rise in the time required for trade and university education of mining professionals, which may cause imbalances in the labor market. According to (Consejo Minero, 2014) human capital gap in Chile by 2023 will be around 27.000 workers for extractive, processing and maintenance jobs, which represents 14% of the current workforce (Figure 1)."

Jan 1, 2016

By K. Katen

In another situation, Dave Zegeer, the Assistant Secretary of Labor for Mine Safety and Health, whom all of you know very well, would have taken the opportunity to talk with you. In his absence, however, I would like to reference some of his recent comments which may help us to see the issue of mine safety in historical perspective. Dave pointed out that this year is the eightieth anniversary of the Great Earthquake and Fire of San Francisco. The whole world heard about that disaster--it and the 452 people who died in it. In that same year, nearly five times as many people died in coal mines, but no one particularly noticed.

Jan 1, 1986

By J. Armanet

THREE MINING colleges are maintained in France; the École Nationale Supérieure des Mines, of Paris; École Nationale Supérieure des Mines, of Saint Etienne; and the École Supérieure de la Metallurgie et des Mines at Nancy. Besides graduates of these schools, a few graduates of the École Centrale des Arts et MIanufactures and of the École Polytechnique are employed as ]nine managers or engineers; however, most of the latter have taken a graduate course at one of the mining schools.

Jan 1, 1939

By Denis McDermott

This paper describes the process used at three mines to devel­op safety and training programs. The mines are located in Australia, New Zealand and the United States of America. The aims of the programs were to promote and reinforce safe and healthy behaviour, increase productivity and efficiency and to provide a fair and objective basis for the payment of wages. There were common aspects to each of the projects: • mandatory legislation required employers to provide employ­ee training in work performance • employees had little previous involvement in the design and development of the training provided • training had been unstructured with employees relying on the "buddy system" to acquire new skills; the degree of skill acquired by an employee depended on the knowledge and teach­ing capacity of the worker to whom the novice was assigned • appointments and promotions had been based on judgements by supervisors and these were not generally understood by employees • employment conditions for employees were covered by an industrial agreement between management, unions and employ­ees. The degree of sophistication of the industrial agreements varied however none provided a description of work performed in each classification, nor the career or promotional path for an individual • supervisors with the responsibility to train, develop, motivate and reward employees expressed concern that there were no structured processes ( eg work standards or wage progression cri­teria) to support their role.

Jan 1, 1998

By E. C. Wright

THE following article is based on observation of college graduates entering the steel industry in technical work made during the past 25 years, the first five of which were spent as a college instructor in two engineering schools, and the last 20 in the employ of a large steel company that has hired hundreds of engineering graduates for steel-mill operations. The college graduates encountered during this period have come from many, colleges representing schools in Eastern States, Midwestern Universities, many Southern colleges, and many smaller colleges and normal training schools mostly in western Pennsylvania and Ohio. The college training of these students for engineering work naturally has varied widely and the educational qualifications of the entrants have been in many ways different. It was found at an early date that graduates of standard engineering colleges were much more adaptable than graduates in science from nontechnical schools. The engineering students seemed to be more suited to actual work in steel' plants and in general were better able to grasp a knowledge of the operations they observed. However, although the graduates of engineering schools have had somewhat better training -in physics, mathematics, and engineering, it has been a general and continual observation that most of the students employed have had inadequate training in the fundamental sciences. Since this discussion relates entirely to metallurgical engineers, it should be emphasized that students taking metallurgical engineering courses in college seem to be poorly trained in organic chemistry, physics, physical chemistry, thermodynamics, and any higher form of mathematics than simple calculus. It has been noted frequently that young engineers faced with problems in a mill that involve some mathematics generally flounder badly, and that they have little conception of physical chemistry. Another common deficiency lies in the young graduate's lack of knowledge of where to look for the more detailed literature on any subject. He reverts instinctively to some college textbook whose coverage is usually very elementary. It is recommended that such textbooks contain a bibliography of the source literature, and that students be taught to use theoriginal data. Many of the students had had previous courses in college dealing with metallurgical work such as steel melting, metallography, etc., but it was found that their grasp of these subjects was extremely sketchy. It was soon realized that an ordinary engineering graduate could be taught more about steel melting and manufacturing processes in a, few weeks in a. plant than he could learn in a college course on such subjects. A similar statement may be made regarding the ability of students to conduct laboratory work. Their lack of technique and skill in handling equipment and setting up experiments was soon apparent. It became neces-

Jan 1, 1946