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By D. K. Dysinger

Capital resource budgeting is the means by which managers of publicly held companies fulfill their fiduciary responsibility to maximize the wealth of stockholders. Managers maximize shareholder wealth by allocating investment capital to the most productive of competing alternative projects in a manner that maximizes the net present value of the firm's future cash flow. The techniques of cash flow analysis are the primary tools available for selecting a corporate portfolio of projects that meets or exceeds the rate of return expected by shareholders. The reliability of cash flow analysis hinges on the ability of managers to forecast the future values of individual components. The accuracy and reliability of forecasting determine the soundness of capital investment decisions and, ultimately, determine the value of the firm. The present paper will explore tools for forecasting the spot market price of a commodity, silver, to demonstrate the difficulty and uncertainty involved in forecasting the future. The commodity price is only one of a number of components of the cash flow equation. Each component has a unique and uncertain future and must be individually analyzed and forecast to arrive at a robust cash flow model.

Jan 1, 1997

By J. S. Peterson

The National Institute for Occupational Safety and Health (NIOSH), Pittsburgh Research Center (PRC), has conducted research to improve electrical fault detection on coal mine direct current (dc) trolley systems. Present circuit breaker protection systems are current-magnitude-based and cannot discern between normal traffic and high resistance electrical faults. Tests were conducted at cooperating mines to assist in developing a neural-network-based detection algorithm for distinguishing between electrical faults and normal operation. The Fast Fourier Transform of the trolley rectifier current signature served as baseline data for the neural network. During field tests, the algorithm performed with greater than 90% accuracy.

Jan 1, 1997

By D. E. Walsh

Over a period of seven years (1989-1996) the Mineral Industry Research Laboratory (MIRL) University of Alaska Fairbanks, has investigated the effects of temperature, residence time, and particle size on the degree of low-rank coal (LRC) upgrading for a non-evaporative, hydrothermal drying process, also known as hot water drying (HWD). Three Alaskan LRCs were used in this study: Usibelli coal (Seam No.4) from the Nenana Coal Field, Little Tonzona coal from near McGrath, and Beluga coal from the Beluga-Yentna field on the west side of Cook Inlet. Replicated, factorial tests were conducted. Experimental results indicate that most of the low-rank coal upgrading via HWD occurs rapidly within the first 10-20 minutes of residence time. Thereafter, the upgrading process slows down and over 100 minutes of additional residence time are required to produce similar percentage increases in coal properties to those achieved in the first 10-20 minutes. The properties of the hot water dried products were very sensitive to process temperature. Calorific value, carbon and oxygen contents, equilibrium moisture levels and Hardgrove grindabilities all appear to change linearly with temperature within the 275" C to 325" C range.

Jan 1, 1997

By Stephen M. Voynick

Two hours driving time west of Denver, CO and 21 km (13 miles) north of Leadville, Bartlett Mountain rises 4,065 m (13,337 ft) high in central Colorado's Tenmile Range. Bartlett Mountain is one of Colorado's most recognizable peaks, especially when the late afternoon sun casts a surreal, reddish light across its most prominent feature - the Glory Hole. This is a gaping, half-mile-wide, 245-m- (800-ft-) deep crater. Created by subsidence from 60 years of massive underground mining, the Glory Hole is a monument to the Climax Mine, one of the great achievements in American mining and metallurgy. For most of this century, the name Climax has been synonymous with brilliant mining engineering, innovative metallurgical research and entrepreneurial promotion of a once-obscure metal - molybdenum. Climax overcame an array of economic, technological and social problems to become a model for underground development of massive deposits of low-grade ores. It is one of the few mines in the world where cumulative production is measured in the billions of dollars. The Climax mineralization was emplaced 30 million years ago. Magmatic intrusions formed a large, mineralized stockwork within the granite country rock of Bartlett Mountain. Associated hydrothermal events forced superheated metal- and quartz-rich solutions through fracture zones, silicifying the country rock and depositing huge amounts of molybdenite, or molybdenum disulfide. The mineralized rock, a light gray, finely crystalline, silicified granite, is laced throughout with blue-gray quartz veinlets containing molybdenite. Although the richest ores graded only about 1% molybdenite, the Bartlett Mountain deposit contained more than 2.7 Mt (3 million st) of elemental mo- lybdenum.

Jan 1, 1997

You have been involved with research activities in froth flotation and size reduction. What do you think the future holds for these technologies? Froth flotation and size reduction are essential processing steps common to almost all current mineral-processing operations. The most significant recent advances in both of these technologies have been in the increased size of equipment and in some alternative machine designs, such as the column cells and the high-pressure roller mills. I believe that the next major area of improvement in size reduction will be at least partially driven by an improved awareness of controlling the conditions that influence the efficiency of particle breakage. This would include factors such as water-chemistry influences, the influence of fines from classification, chemical grinding additives and better rheology control. In froth flotation, significant changes are currently taking place in the plant use of frothers. Also, there will be an increasing number of new collector chemistries for certain types of flotation, such as with oxide minerals, oxidized mineral recovery in sulfide systems and improved selectivity with certain sulfide mineral systems. You have been active in implementing new engineering technology in industry. What do you think will be the technological future of mineral processing? Being involved in the invention and industrial implementation of new technology has been one of the most positive experiences of my career. I also have had the unique experience of working in the chemical and petroleum industries as well as in mineral processing. In my opinion, the future of mineral processing will be an exciting, wonderful work area in which to be involved. The development of new technology in minerals processing offers a special challenge compared, for example, to that of chemistry or chemical engineering. In successful industrial innovation involving minerals, having a sound theory is not enough. Instead, what is required is a valid blend of a good idea, meaningful laboratory characterization and, most key, the experience necessary to adjust the plant in such a way to incorporate the idea. The complexity of engineering systems that contain solids, liquids and gases, as well as highly variable natural mineral properties, means that nothing new comes easily. In some cases, it has been difficult to explain how processes practiced in industry for decades actually work, in terms of physical and chemical fundamentals. On the other hand, when a new idea is successfully implemented, the economic and professional returns can be very rewarding. I know of no more challenging field of engineering than minerals processing. What is your view of the future of the minerals industry in general? The need for minerals, metals and coal will be with us for decades to come. In many aspects, the minerals industry became global much earlier than some of the other industrial sectors that are currently experiencing globalization. I believe that fair international competition is beneficial to the users of minerals, metals and coals and to those involved in producing such materials. The key word here for a global economy to work is "fair." So the various playing fields involved such as finance, profit return, regulation and labor should be relatively level for all the players involved. Competition is an amazing driving force for innovation. This has been true in the minerals industry during the last few decades. The mining industry is producing more at less cost per unit than ever before in our history. I anticipate that this trend will continue as long as the global political situation remains relatively stable.

Jan 1, 1997

The green field discovery of a two million ounce high-grade refractory gold ore deposit in the Indonesian Province of Sulawesi Utara, led Newmont to utilise its proven technical expertise in dry grinding and whole ore roasting to develop a 2000 tonne per day, 160 000 ounce per year operation in this remote and picturesque location.Located at an elevation of 250 in above sea level and ten kilometres to a deep water natural harbour, the hard rock open pit mine, process plant and infrastructure facilities were built to budget at a capital cost of US$132 million. The plant was commissioned with oxide ore, with the first gold poured in March 1996 and with refractory ore in January 1997. The operation rapidly met its production targets because of extensive forward planning and training programs developed for the local workforce. The presence of steep topography, fertile coastal plains, high rainfall, high seismicity of this location led to the decision to dispose of neutralised tailings in deep water off the coast instead of impounding tailings in a dam. This paper describes the development of the project and the challenges in developing a gold operation in a remote location which lacked infrastructure, the steps taken to ensure a smooth commissioning, and the selection of the workforce to operate a technically sophisticated facility.

Jan 1, 1997

By José Luiz Rodrigues Bravo

The production of electrolytic copper with assured quality corresponding to international standards, in a conventional electrorefkery of a custom smelter, is a hard and cautious task, if no advanced technologies for selective control of electrolyte impurities are available. The improper control of the amount of As , Sb and Bi in the anode that enter the tankhouse , attributable either to a bad schedule of concentrate input or to the unavailability of clean concentrates in the international market , as well as the lack of means to maintain the suitable level of these elements in the electrolyte together with other operational circumstances, can result in off-grade copper, as well as affect the starting sheet chemically and physically. This paper presents in a practical way the relationship between the operational conditions and the cathode and starting sheet quality produced at CMSA, covering the period of the last five years of operation, discusses the technologies available in the market for antimony and bismuth removal and compare the results of testwork, achieved in the laboratories of CMSA, using two resins not associated with patented technologies.

Jan 1, 1997

By Mike Higgins

"The purpose of mining and its related industries is the removal of, and usually the subsequentprocessing of, material from the earth. This includes mining for minerals, quarrying for stone, and civilexcavations. Where this involves rock, the most common method is to fragment the rock by blasting. "

Jan 1, 1997

By Robert L. Martin, Brian W. Stump

"The Black Thunder Mine is located in the Powder River Basin of Northeastern Wyoming. Over 39.2million tons of coal were produced at the Black Thunder Mine in 1996. Just over 100 million pounds ofANFO/Emulsion blend were consumed in that same year. Currently around 30% of the overburden is cast to final with the use of explosives. With plans for a mine expansion, explosives will continue to play a very vital roll well into the future."

Jan 1, 1997

By A. J. Schindler, F-P Sawyer, T. Logan, M. L. Shutey-McCann, R. M. Perry

"Test work on biooxidation pretreatment of low-grade refractory gold ores has been ongoing at Newmont Gold Company since 1988, including laboratory testing and pilot biooxidation heaps (360 to 23,000 tonne). Metallurgical results of the biooxidation process utilizing Thiobacillus ferrooxidans (T. ferrooxiddans) have culminated in the design, construction, and operation of a biooxidation demonstration facility. The facility has processed 708,000 tonnes of refractory ore, using a batched process with separate pads for biooxidation and ammonium thiosulfate gold extraction. Siliceous sulfidic refractory (SSR) and carbonaceous sulfidic refractory (CSR) ores are treated separately during biooxidation pretreatment unit operation. Following biooxidation, the ores are neutralization with lime and placed on oxide leach pads or stacked on the ammonium thiosulfate leach pad. Gold is leached with either cyanide for SSR ores or ammonium thiosulfate for preg-robbing CSR ores.This paper will only address the biooxidation pretreatment process of the SSR and CSR ores.AcknowledgmentsThe authors appreciate the cooperation and approval of Newmont Gold Company Carlin Operations management for its support and permission to publish this paper. The paper draws on efforts and assistance of the following people and several others which are to many to list who participated over the past five years in bringing this project to its fruition: Dr. James A. Brierley, Chief Microbiologist, Newmont Metallurgical Services; Dr. Rong-Yu Wan, Metallurgical Manager, Newmont Metallurgical Services."

Jan 1, 1997

By W. W. Bristol

The Jerritt Canyon Joint Venture project is located approximately 50 miles (80 km) north of Elko. Nevada, U.S.A. and produces between 250 and 300 thousand ounces of gold annually. The Joint Venture is 70% owned by Independence Mining Company and 30% owned by Meridian Gold Company. Independence Mining Company is the operator. The Jerrin Canyon Joint Venture started operations in 1980 mining a series of open pit mines. Since the early 1990's, the discovery of deeper ores has required the joint venture to develop and mine a significant portion of its annual production utilizing underground mining methods. Underground production started with the West Generator Mine in 1993 followed by the Murray Mine in late 1994. Presently, two additional underground projects are being developed. Underground mining at Jerritt Canyon is budgeted to produce 128 thousand ounces in 1997. This paper documents the major transition/redevelopment of the Jerritt Canyon mining methods.

Jan 1, 1997

By Mitchell Gordon

Two mineral processing facilities in North America required near terminal density slurries to perform de-bottle necking in their circuits. The installation at Barrick Goldstrike to ensure efficient oxidation conditions and throughputs in the refractory ore treating autoclaves. The Kidd Metallurgical Division unit to provide a steeper tailings slope to extend the life of the existing tailings dam. To achieve these goals, both operations selected a Supaflo "High Compression" Thickener following on site pilot plant evaluation. Commissioning and the first year of operation is reviewed. Operating data is compared with the pilot plant data. In particular, unusual doughnut formation at Goldstrike and the effect of temperature on the terminal density at Kidd Metallurgical Division are discussed.

Jan 1, 1997

By Bure R

Approximately 2.4 million ounces of gold and 11.3 million ounces of silver have been produced from the Umuna Lode by Misima Mines Pty Limited between June 1989 and the end of Decemeber 1996. Reserves remaining at the end of December were 32.1 million tonnes at 1.0 gram per tonne gold and 9.7 grams per tonne silver. To attain precious metal production of this volume, an estimated K60,000,000 (1996 Kina) was spent on exploration alone. from the 1940s to the present day. Exploration expenditure for the 1996 calendar year was approximately K4,400,000. With such a large investment in exploration, large quantities of data were generated and stored in various forms. To make best use of this data, it was necessary to organise and systematically store this data in a form compatible with a modern Geographical Information System (GIS). The Umuna Lode on Misima Island is a low sulphidation gold- silver deposit dated at 3.5 ¦ 0.2 Ma. The deposit is controlled by the 50 to 100 metre wide Umuna Fault- a moderate dipping, brecciated clay- chlorite- carbonate altered, normal fault zone. There is approximately 230 metres of mostly dip slip offset on this fault, which is measurable by the offset of the Cretaceous schist, marble and greenstone host sequence. Late Miocene microdiorite spatially related to the Umuna Lode does not appear to be genetically related to the gold- silver mineralisation. GIS was introduced to Misima at the end of 1995 and until recently has been mostly used for data storage and retrieval, the over- laying of various data sets to assist in targeting prospective areas, and as a drafting tool. The use of data-driven, predictive data analysis is the most recent effort in maximising the use of the extensive Misima database. By characterising the key controls and properties of the Umuna- type mineralisation, a Weights of Evidence, data-driven analysis produced a prospectivity map of Misima Island. The purpose of this map was to identify prospective areas yet to be explored and to assess the effectiveness of exploration to date.

Jan 1, 1997

By Anievas JB, Sevillano AC

This paper describes the acquisition, exploration, development, initial operation and subsequent financing of the Bulawan mine by means of a listing on the Toronto Stock Exchange of a subsidiary of the parent company, Philex Mining Corporation.Located on the island of Negros in the Philippines the property is unique on at least two counts: it is a disseminated gold deposit that occurs in a region of predominantly porphyry copper mineralisation; and it is a gold deposit that is mined by a bulk method of extraction (front and block cave) instead of the normal selective mining methods.

Jan 1, 1997

The Australasian Institute of Mining and Metallurgy (AusIMM) is a professional society for all those associated with the activities of the mineral industry. Differences of opinion exist within the membership of the AusIMM on the role it should play in the future as a professional society in a changing industry and world environment. This same dilemma is concerning other professional societies of which the author is a member. Some of the activities and priorities of the AusIMM are reviewed in order to clarify a frequently expressed opinion that it identifies with and supports industry at the expense of representing the interests of its individual members. By definition and by action this is certainly not the case and it is concluded that all activities whether seen to be industry or member orientated serve to benefit both. The AusIMM plays a most important role in integrating and promoting the interests of all sections of the mineral industry whether corporate or individual and the Presidential activities in education this year provide an excellent example of this.

Jan 1, 1997

Jan 1, 1997

By Wade W. Bristol

The Jerritt Canyon Joint Venture project is located about 80 km (50 miles) north of Elko, NV. It produces approximately 9.3 t/a (300,000 oz/year) of gold. The joint venture is 70% owned by Independence Mining and 30% by Meridian Gold. Independence Mining is the operator. The Jerritt Canyon Joint Venture started operations in 1980 by mining a series of open-pit mines. The discovery of deeper ores during early 1990s made it neccessary for the operation to mine a large portion of its annual production by underground mining methods. Underground production started in 1993 at the West Generator Mine. This was followed by the Murray Mine in late 1994. Two additional underground projects are being developed. Underground mining at Jerritt Canyon is scheduled to produce about 3.9 t (128,000 oz) in 1997.

Jan 1, 1997

The perception of New Zealand as an exploration destination has improved compared with other countries. There has been a realisation that New Zealand's potential is greater than previously thought. Other countries are not as attractive as before, and explorers are looking at alternatives that are geologically prospective and politically stable.   New Zealand is regarded as geologically prospective, especially for gold, with potential for world class deposits. It is also prospective for other metals, coal and industrial minerals. New Zealand is politically stable, and has an economy that is attractive to overseas investors. It is one of the least corrupt countries in the world, which overseas companies see as providing a high degree of certainty for investment.   New Zealand has good opportunities for investment in gold exploration at present. Otago has been the focus for new companies and is the favoured exploration location. Otago is regarded as very prospective, and hosts New Zealand's largest gold deposit at Macraes. There is potential for other similar deposits elsewhere in Otago.   The mineral industry previously had an excessively pessimistic view of New Zealand, which has resulted in little new investment in New Zealand for some years. Previous pessimism is turning to optimism, and there is increasing interest in New Zealand as an exploration destination by overseas explorers.

Jan 1, 1997

By Wayne J. Nordstrom, Dennis L. Murr, James E. Wennen

National Steel Pellet Company (NSPC) conducted pilot scale testing and computer simulation studies which indicates that the capacity of the secondary grinding mill could be increased and that concentrate grade improvement could be expected with improved classification in the grinding circuit. Based on these studies, a decision was made to modify one secondary ball mill line at NSPC to include both cyclone and screen classification with magnetic separation applied to the circulating load. This paper will briefly discuss the studies leading to the decision to modify the circuit, the design of the modified circuit and the initial start-up and operating experience.

Jan 1, 1997

This manual provides basic practical instruction on the inspection of driven piles. It covers the essential components of pile driving, such as the pile driving hammer, hammer accessories, the pile and soil, and frequently encountered test methods in an uncomplicated, yet knowledgeable, and practical manner. Insight is given into the methods of installing the foundation, dealing with the cranes which do the lifting, the hammers which do the driving, the leads that guide the hammer and pile, the compressors which provide the external power when required, and finally prevalent analysis tools and testing instrumentation and procedures which enable you, the Inspector, to do your job. This DFI Inspector's Manual for Pile Foundations will help the Pile Inspector who has limited knowledge of pile foundations. Perhaps this Inspector has been pressed into service at a moments notice; a few helpful hints and suggestions to him are desperately needed and he can look here for the basics. It is also useful for the experienced Pile Inspector as a reference guide. However, this manual is not a detailed check list of every possible scenario and detail which could ever be encountered. There are other sources available which give more detailed descriptions (and should be consulted by the Inspector when appropriate; a list of this additional reference material is provided and suggestions made in appropriate chapters of this text). The current manual is more a brief "textbook overview" with some of the more important aspects given at least some emphasis so that the Inspector has some direction and hopefully helps to produce a safe, yet economical, foundation.

Jan 1, 1997