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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analysts' inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted `floor' value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

By W. B. Clark

IN OPERATING the Alpha mine of the Consolidated Coppermines Corp., Kimberly, Nev., it was necessary to pump out approximately 1200 gallons of waiter per minute to prevent the mine being flooded. There were three levels in the mine at which water accumulated and from which it was pumped, the 1200, 1400 and the 1800- ft. levels. At each, the pumping equipment was installed in duplicate so that if for any reason one unit was out of commission the other would be available to prevent flooding. The two centrifugal pumps at the 1200-ft. level were 600 hp. each; at the 1400-ft. level, 100 hp. each; and at the 1800-ft. level, 300 hp. each.

Jan 1, 1933

By Edgar E. Vidal, Keith Smith, James A. Yurko

Beryllium, like many other reactive metals, is extracted from a halide (generally BeF2) using magnesiothermic reduction, also known as the Kroll process. The beryllium is produced in a molten state, which when solidified resemble "pebbles". Although beryllium is used in limited quantities compared to other metals (< 100 Mt/annual), it is a critical material for the nuclear, defense/aerospace, and large science markets because of its unique nuclear and mechanical properties. Beryllium processing has unique environmental, health, and safety concerns which must be handled appropriately in the 21st century from a worker and environmental safety perspective, and must be designed with this first in mind. In 2011, Materion began operations of its new Kroll plant – informally known as the “Pebbles Plant” - in Elmore, Ohio. The plant was majority funded by a U.S. Department of Defense Production Act (DPA) Title III grant, which is a unique government/industry partnership program to, "create assured, affordable, and commercially viable production capabilities and capacities for items essential for national defense." After a twelve year hiatus from primary beryllium production, Materion has reentered its extraction business and has relearned how to make pebbles. The purpose of this presentation is to give an overview on beryllium extraction and discuss some of the unique aspects of building and operating a safe beryllium facility during the production scale-up phase.

Jan 1, 2015

By Josh Campbell

Modern blast engineering involves the use of modern technology to provide more efficient blasts. Through the use of improved measurement techniques more information can be obtained on many of the physical variables of a quarry rock face. By employing this information, a more efficient production shot can be designed and loaded. Along with improvements in production, greater safety and improved environmental impact can be achieved. This paper concerns the employment of modern blast engineering at a granite quarry in the Southeastern United States. The test period extended over a period of approximately six months, and this paper will show the results achieved in that time span.

Jan 1, 1998

By Brendan O'Reilly, Outokumpu Zinc, Geoff J. Johnston, S Durucan

Historically vibration monitoring has dealt primarily with surface blasting or "near field" monitoring of underground blasts. The Situation at Tara Mines is different, blasting occurs up to 400m underground, with a number of blasts occurring daily and occasionally with residential properties directly above the blasting site. Tara Mines, due to both its location (1.5 km from the rural town of Navan) and stringent planning conditions have always had to monitor, carefully plan and control the levels of vibration from blasting. The statutory vibration limit at Tara allows a maximum peak particle velocity of 7.62 mm/s with no frequency limitations. Levels of vibration have been monitored continuously since mining operations began in 1972.

Jan 1, 1994

By Irving R. C

THE objective of the iron smelter is naturally the production of high quality iron at the lowest practicable cost. To enable this, large tonnages are put through the blast furnace, and, at the same time, the quality of the iron must be under definite control.The modern blast furnace enables these objectives to be attained. The description whieh follows sets out the general details of construction of such furnaces, and the operation at thc Broken Hill Proprietary Company&apos;s blast furnaces at Newcastle, New South Wales.The occurence of iron in many forms is so well known as to need no description. Modern civilisation may be said to be built on a foundation of iron, and, today, the production of iron and steel has beeome one of the world&apos;s industries.A short historical introduction will serve to show the evolution of the processes and apparatus since iron production assumed importance.There is no definite date fixed as to when iron was first made, or by what means it was first discovered. Perhaps prehistoric man threw iron bearing stone on to his fire, and these became reduced, Ieaving a soft metal behind, or more probably the first iron was of meteoric origin.There is evidence, however, to prove that it has been known for a period of 6000 years. Iron has been found in the Pyramids and its use was known to the early Eqyptians and later to the Hebrews, Assyrians, Greeks and Chinese. Following the Greeks, the Romans excelled in its extraction and uses in the manufacture of their instruments of war, and to this fact can largely be attributed the success of their many wars of conquest. As the Romans overran the rest of the then known world they carried the art with...

Jan 1, 1930

By Benedicto Hadad Cintra

In an inflationary environment the need for reduced cost is a daily concern of all industries. The Du Pont do Brasil "Expanded Pattern" method has proven to be an extremely effective means of reducing costs in mining, quarrying and construction operations. Over the past years much emphasis was placed on rectangular drilling patterns where the burdens are less than the spacing. The Expanded Pattern method combining rectangular and staggered patterns, was implemented in 1971 in Brazil after extensive trials in close collaboration with numerous explosives users and Du Pont do Brasil Technical Services Engineers. The best multiple row spacing-to-burden ratio (S/B) was demonstrated to be in the 2 to 5 range and the effective spacing to burden ratio (Se/Be) was found to vary from 5 to 11. These ratios are for the interior of the blast pattern and do not hold true along the front row of holes. Geological rock properties, hole diameter and inclination, explosives energy and loading density, explosives characteristics, blast pattern geometry, bench height and delay patterns along with type and size of digging, hauling and crushing equipment must all be evaluated for each and every operation. The integration of these interrelated parameters, together with sound blasting practices are the basis for the Expanded Pattern method. Color slides and documented case histories will be presented.

Jan 1, 1985

By A Jurg, F Leclercq

The total drill and blast concept is widely known in the mining industry. On the contrary, the quarry industry rarely adopts such working methods. Based on the experience of the CBS quarry in the North of France, this paper shows how up-to-date blasting technology and simple control methods can significantly improve the overall Mine to Mill efficiency of a quarry. The CBS quarry, in partnership with the EPC group and Nitro- Bickford Company, adopted a new working process three years ago aimed at increasing blast performance and related productivity of the downstream process (loading, hauling and crushing). The pattern geometry of each blast is controlled and explosive charging is carried out following the æconstant specific energyÆ CSE concept. This method provides a homogeneous fragmentation distribution and reduces vibration peak-particle-velocities. The impact on downstream productivity is controlled by means of a simple information management system, which collects and measures key parameters of the production process such as; hauling cycles, crusher throughput, secondary breaking and vibration peak particle velocity. This information system has clearly proved over time that consistent blast quality could be achieved, leading to a 30 per cent improvement in quarry productivity. Improved energy control of blasting through optimisation with electronic detonators, allowed a significant reduction in vibration impact on the environment. Improvement in blasting security, reduction in the environmental impact and productivity enhancement are major benefits that quarries can obtain from these CSE optimisation blasting methods.

Jan 1, 2007

Although forty-seven years have passed since the by-product coke oven made its successful commercial appearance, it is only during the past fifteen or twenty years that this system of coal carbonisation has advanced rapidly to its present position ofabsolute supremacy.Early designs of by-product ovens proved more or less faulty, and the coke produced was so inferior to coke made in beehive ovens that there was a natural hesitancy on the part of coke producers to invest large sums of money in installations of by-productovens of doubtful utility-more especially in view of the fact that beehive ovens could be erected cheaply and operated by non technical labour for the production of high-grade coke under the most variable conditions of trade.Surely and steadily designers brought forward by-product ovens of improved type, coupled with more efficient apparatus for the recovery of by-products, but still the industry lagged, due almost entirely to the insistence on the part of coke users that the qualityof ordinary beehive coke was vastly superior for metallurgical operations to the best coke produced from by-product ovens. So deep rooted was this prejudice that only the passage of time could eradicate it. That it has successfully done so is strikingly illustratedin the following statistics:

Jan 1, 1928

By A. C. Lyons, A. J. Reed

INTRODUCTION A trend which is obvious in the United Kingdom and is thought to be evident in other parts of the Western world is the disproportionate rise in the cost of tunnel mining labour compared with other tunnel cost increases. This disproportionate increase in labour costs has been accompanied by, and may be the result of, a shortage of skilled working labour. To combat this problem there has been a steady increase in the use of machines for excavation and for the erection of tunnel linings to keep the amount of skilled labour working below ground to a minimum. The typical tunnelling cycle, where the ground needs continuous support can be excavation, temporary support, temporary lining, grouting and permanent lining. It is obviously an advantage to combine as many of these operations as possible and carry out as much as possible by machine. Machines have been developed which will, either alone or used in combination with a shield, excavate and, when necessary, temporarily support the excavation. If a segmental lining is used, it can be so designed that it will form the permanent lining and reduce the cycle time and skilled labour requirement to a minimum. In cases in which the ground can be cut accurately to a smooth profile and will stand without support for a sufficient time, the lining can be expanded against the ground and the necessity of grouting eliminated. In cases in which ground will not stand without support, the usual method is to use a bolted lining and to grout behind it preferably as the shield is shoved forward. Whichever technique is used (this is largely determined by the ground) it is an advantage to make the segments as large

Jan 1, 1974

By Timothy P. Smirnoff

Sustaining the region?s mobility needs, achieving projected economic growth, and maintain Midtown Manhattan as a center of regional, national and global importance has led to continued investment in commuter rail and transit infrastructure in New York City and resulted in design and construction of large underground caverns. The current plans for stations in Manhattan include New York Penn Station Expansion (NYPSE) caverns for Trans Hudson Express (THE) Tunnel Project for New Jersey Transit (NJ Transit) and the Port Authority of New York and New Jersey (PANYNJ), Metropolitan Transportation Authority Capital Construction Long Island Railroad (MTACC/LIRR) twin caverns for East Side Access (ESA) Project, and station caverns of the No. 7 Line Subway Extension Project and Second Avenue Subway Project for Metropolitan Transportation Authority Capital Construction/New York City Transit (MTACC/NYCT). This paper provides a general overview of these large caverns now in design or construction in Manhattan, the area?s geologic setting, the geotechnical factors considered and approaches commonly applied for cavern design.

By R Harding, T Hunt

For the past 120 years, Portland cement manufacture has been undertaken on the shores of the Whangarei Harbour in northern New Zealand. Through a serendipitous conjunction of geo-chemistry, the argillaceous marl found on Limestone Island in the harbour and Tikorangi Hill provides a perfect mix of the various elements required for strong and durable cement. Golden Bay Cement, and its predecessors, have been the guardians and managers of the use of these minerals. As the demands of the concrete industry have increased, so have the needs of the manufacturing process. Careful mapping of the resource at both Portland and Wilsonville Quarries has been undertaken. This has allowed the Company to change the Quarry operation from a purely volume basis to one of selection and blending of constituent minerals. Within the manufacturing process, change has also been introduced. Analytical techniques, using x-ray fluorescence spectrometry, microscopy and the application of modem data collation, has allowed fine tuning of the process. The Company now produces an increasing diverse range of products for both the domestic New Zealand market and exports to various South Pacific countries. This paper discusses the processing of limestone and æcement rockÆ into cement clinker, an intermediate synthetic mineral ground into cement. It examines control and blending regimes, and some methods used in determining process efficiency. An important technique ærediscoveredÆ has been the application of microscopy to clinker. &nbsp;Examination of the major silicate minerals enables interpretation of the kiln processing and feedback to process operators. It also enables a prediction of indicated performance when ground into cement. Examples this paper give an insight into the use of minerals from Northland in some of the more important construction projects in modem New Zealand.

Jan 1, 1999

By C. E. Golson

Modern concrete technology emphasizes the basic qualities required of an acceptable aggregate: it must be clean, sound, homogeneous, and of a size gradation resulting in a concrete of the desired physical qualities at a minimum cost. In the case of coarse aggregates, crushing, scrubbing, and screening will usually provide the required material, although beneficiation is often necessary in order to eliminate unsound or deleterious fractions. Beneficiation is also applicable to fine aggregates,( but the processes most often employed are washing, classification, and dewatering.

Jan 1, 1959

By Gary F. Meenan

The industrial practice of froth flotation for upgrading the quality of fine coal is a relatively complex, expensive, and inefficient process when compared to the coarse- and intermediate-size coal cleaning circuits. The differences in cost and process efficiency can be attributed mainly to the lower equipment throughput, the added cost of flotation reagents, and the fact that flotation is typically a manually operated process susceptible to fluctuating feed characteristics that influence the overall operating efficiency. The emphasis in recent years has been on improving the flotation process efficiency and lowering the cost per clean ton. This has been achieved by larger flotation cell designs, implementation of flotation reagent evaluation programs, and improved process instrumentation and control. These developments are reviewed along with other current coal flotation practices.

Jan 1, 1999

By C. W. Jr. Waterman

INTRODUCTION MY SUBJECT is one which would require several speakers and many hours of time for adequate presentation in all its many facets. Because of the widely varying market requirements and coal seams mined, the coal industry of the United States bas of necessity employed many types of preparation facilities to satisfy its needs. Predominance of Baum-type jigs, however, bas marked the mechanical cleaning installations since the early thirties, and these machines continue to hold the lead. CLEANING As a matter of record we find that, at the end of 1948, we had 480 mechanical cleaning plants in operation. Of these, 19 used air cleaners only,?400 used water washers only, . and 61 used dry and wet washers in combination . Due to the increased use of spray water underground on cutting and mechanical mining equipment, there has in recent years been a marked downward trend in dry cleaning installations. In fact, the moisture in dry-cleaned fines has been increased to such an extent by spraying that recent dry cleaning installations have incorporated thermal drying ahead of the dry cleaning units in an effort to overcome the varying and increasingly higher moisture percentages in their raw coal feeds. While on the subject of dry cleaning, it might be well to bring to your attention one of our most recent developments in this art. I refer to the McNally-Brusset vacuum jig.

Jan 1, 1951

By Wolfgang Kern

The implementation of the Gas Treatment Plant (GTP) for CSPECEM, Ceara-Brazil is a result of the closed partnership between Paul Wurth Italia S.p.A. and DMT, the German leading company in Coke Oven Gas Treatment Plants. In addition to technical issues reducing emissions, avoiding of waste and saving environment and energy were technical challenges during the engineering phase. Below mentioned three descriptions of technical solutions represents examples of a number other innovations based on DMT’s know-how and experience in the field of by-product plants. Generally the design of the complete GTP is based on the consideration of modern features and design upgrading, with the aim of a safe operation with stable conditions and a long-living cycle of the whole of the plant.

Aug 16, 2017

By A. J. Strane

PRACTICALLY all explosives may be classified as those that burn and those that detonate. Explosives of the first class include .black blasting and smokeless powder and are broadly known as low explosives, or propellants, because they merely burn and do that comparatively slowly. Their action is as if some power behind the projectile or other material were exerting a shoving or pushing action. The high, or detonating, explosives produce a smashing or shattering effect upon the material. In using military- explosives of the propellant class, the breach of the gun, or cannon, is proportioned to hold the pressure, so that the projectile will be blown out. Exactly the reverse is true in commercial work; then it is the "breach" or the hole that is to be broken. The projectile and the explosive are therefore chosen that will rupture the largest "breach" possible. With the high explosives, it is easy to break out the breach (that is why they are of no value as military propellants)" but with some of the low explosives it is necessary to plug up the muzzle very carefully before shooting. Doubtless the use of incendiary mixtures of oxidizing and combustible materials led, in the 13th century, to the perfection of the mixture which is practically the same as our commercial black blasting powder of today. About 600 years later, nitroglycerine was discovered, but for years its great potential energy could not be used because, in its liquid state, it could not be safely handled or transported. The accidental discovery that kieselguhr would absorb, and hold fairly well, three times its own weight of nitroglycerine, however, made it available. "Guhr dynamite," as the combination nitroglycerine and kieselguhr was termed, was soon displaced by dynamites having an active base, such as wood pulp and other carbonaceous combustible materials. These do all that kieselguhr will do and, in addition, increase the chemical reaction and add materially to the effectiveness of the blast.

Jan 8, 1920

By Thomas P. Meloy

There is much interest in the automation of entire comminution circuits, At the present technological level it is possible to automate a circuit but to date it has not been done, To successfully automate a circuit, a number of problems must be solved. Not all of them are engineering problems. The purpose of this paper is to discuss some of these problems, as certain the implications of these problems and indicate solutions to them. In this paper the term "automation" is used loosely but in the popular sense. Namely, that a plant is automated if a computer is used to control the basic flow of the materials as well as setting the critical parameters in the process. Specifically, the discussion will concern itself with the control of comminution circuits from the dumping of the ore into the primary crusher until the final interface between the comminution circuit and say, the flotation mill in the case of a sulfide ore.

Jan 1, 1965

By Jerry R. McGaha, Joseph A. Dos Santos

The favorable economics of conveyor based haulage, especially in moving large volumes. has long been acknowledged. This has given impetus to significant developments over the last two decades in conveying systems and equipment. Such developments have resulted in improved equipment and system reliability, versatility and mobility. The present writing presents conveyor systems and their variations. Long overland conveyors of various profile and plan layout are considered along with various typical support systems. This includes discussion of horizontally curving, two-way and booster driven conveyors. High Angle Conveyors-[HACs] are reviewed, citing in-pit as well as plant application. Finally, several important advances in idler and in pulley design are presented.

Jan 1, 1989