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By Michael Bradbury

INTRODUCTION A major change in financing exports in recent years has been the decreased importance of subsidized export credits, following the commitment of the OECD countries to eliminate the subsidy element. Subsidized export credit rates are now often more expensive than market rates as the financing for exporters has decreased in volume and importance. The forfait market, in recognition of this decreasing importance, provides a rapidly expanding source of nonrecource finance for exporters. The following is a step by step guide to what it is, how it works, its benefits and problems. WHAT IS FORFAITING? Forfaiting is not new. It has been used in Europe for about 25 years to provide export finance for both capital goods and commodities without recourse to the exporter. Although long the preserve of exporters in Germany, and more lately Italy, forfaiting is now used increasingly by exporters in Great Britain, the United States, Canada and Scandinavia. It is a fairly simple operation with easy straight-forward documentation. The transaction involves the purchase by the forfaiting bank of a bill of exchange or a series of bills without recourse to the exporter. These bills will have been drawn by the exporter, accepted by the importer, and will usually bear the unconditional guarantee of the importer's bank. They are normally drawn payable at intervals during the credit period agreed between importer and exporter and are purchased at a discount by the forfaiter. The exporter thus obtains his cash payment and the importer receives his credit period. The forfaiter collects the amount of the bills as they mature directly from the importer. Credit periods vary, depending upon the type of goods and the country and commercial risk of the importer. The period is generally between one and five years with six monthly maturities. The usual forfait currencies are US dollars. Deutschmarks and Swiss francs and others, such as sterling, French francs, and the Scandinavian currencies are being used more frequently. CHOOSING FORFAITING Most types of financing require the continued involvement of the exporter in the financial side of the transaction during the credit period. Forfaiting has certain comparative advantages. In particular, it is possible to forfait 100 percent of the risk without recourse to the exporter, unlike government sponsored export finance schemes, where some retention of the risk by the exporter is required. In addition, exports from country sources do not present problems and forfaiting can also cover trade within the EEC. Other benefits for the exporter are: (a) The exporter's balance sheet is improved; debts are turned into cash thus improving the liquidity of the company and enhancing its cash flow. And there are no contingent liabilities for bills of exchange. (b) If the sales contract is in a foreign currency forfaiting removes the risk to the exporter of adverse movements in foreign exchange during the credit period. (c) Fluctuations in interest rates during the credit period can be ignored since in forfaiting the transaction is usually done on fixed interest rate terms on a discount basis. (d) The political and transfer risks are taken by the forfaiter. (e) The commercial risk is taken by the forfaiter. (f) The costs of administration and collection etc. during the credit period are removed.

Jan 1, 1985

By John R. Morgan, Peter Graham

"Onakawana Development Ltd. and Mana/ta Coal Ltd. have completed feasibility studies on a large lignite deposit located in the James Bay lowlands of northeastern Ontario. The mining plan described in this paper would supply coal for approximately a 33-year period with peak production in the early years of approximately 6.5 million tonnes per year then declining to 1.2 million tonnes in year 33. This paper describes the geology, resources, lignite quality, mine planning and related topics. LocationThe Onakawana lignite deposit is located in northeastern Ontario in the James Bay lowlands (Fig. l). The Ontario Northland Railway crosses the property and links it to Moosonee, JOO km further north, and Cochrane 180 km south. The area is crossed by latitude 50° 37', the approximate latitude of Calgary. Toronto lies 800 km south of the study area. History of Development The deposit has been known since the late 1600s when early English settlers extracted limited amounts of lignite for use at Moose Factory. The deposit has undergone sporadic periods of exploration activity in the late 1920s and early 1930s when the Ontario government drilled 116 holes, sunk two exploration shafts and published several technical and economic studies. Interest in the property was reactivated from 1939 to 1945 when the Timiskaming and Northern Ontario Railway Ltd. drilled 182 additional closely spaced holes, excavated a test pit adjacent to the rail line and installed a boiler for testing purposes. In 1965, Alberta Coal Ltd., the predecessor of Manalta Coal Ltd., first became involved. Since then a further 182 holes have been drilled and coied, and the existing test pit reopened for sampling. In 1980, various reassessment studies were launched, including geology, mine engineering, conceptual design and environmental assessment studies. The following discussions have been drawn extensively from these reports."

Jan 1, 1985

By Kershaw MG

At the Risdon plant of the Electrolytic Zinc Company of Australasia Limited, impurities toxic to the electrolytic production of zinc metal, notably arsenic and antimony, have traditionally been coprecipitated when precipitating iron as ferric hydroxide. With the development of a new lead/zinc mine at Elura, New South Wales, it was anticipated that the concentration of impurities, particularly arsenic, in the zinc sulphide concentrates treated at Risdon would increase. This suggested that an increase in the capacity of the iron purification step in the Risdon plant would be required to cope with the higher input of these impurities.Laboratory investigations showed that the additional capacity would be achieved, either by a massive increase in the amount of iron used as the "collector" in the process, or by a two-stage process. The latter approach was preferred as an increase in the amount of iron precipitated would lead to much higher operating costs and overloading of the existing equipment.

Jan 1, 1985

Reduce the respirable dust exposure of the roof-bolter operator when downwind of the continuous miner, particularly in mines where respirable dust standards are more stringent because of silica in the respirable dust. Dust Sources If roof-bolter dust levels are excessive, the bolter dust collector should first be checked to ensure that it is operating properly. (Technology News No. 219 provides information on how to spot and repair bolter dust collector problems). If the roof-bolter dust collector is operating properly and dust levels are still excessive, then the source is most likely a continuous mining machine operating upwind. In many sections, the roof-bolter operator must work on the return side of the continuous miner during part of the production cycle. In three-entry longwall developments with single split ventilation, this may happen as much as one-third of the time. Factors which pro-mote high quartz dust exposure are:

Jan 1, 1985

By J. C. Thornley, H. L. J. Drummond

"Fifty years of wear on the original carbon steel shaft of this hydro turbine necessitated repair operations in 1980. Both austenitic and martensitic stainless steels have been used individually as journal materials in separate trials on an80-inch long and 22-inch diameter radial bearing but neither one nor the other has been successful.The wear and cracking problems of the stainless steels leading to the present abandonment of both classes of stainless steel are described. In particular the dependence of the toughness of type 410 stainless steel on its tempering temperature and the susceptibility of that steel to quench cracking are highlighted because problems have been caused by both of these metallurgical factors.IntroductionAs part of a desire to improve the efficiency of a fifty-year old hydro-electric generating station on the Saint John River, the decision was made to change the journal and bearing material for the shaft bearings, which are stave-type bearings. For the initial fifty years of operation the bearings had been wooden (lignum vitae) and had run on the carbon steel shaft directly. For one of the four unit s at this station the performance of this combination has been truly excellent, and the remaining three sets of bearings had performed well. However there had been shaft wear on the units and the wear had made the shafts somewhat elliptical when a decision was made to install some sort of new journal on to three of the old shafts. [In addition to the wear on the carbon steel journals it was found that one shaft was significantly softer in the bearing area than it was immediately above the bearings (180 Vickers in comparison with 230 to 250 Vickers)] ."

Jan 1, 1985

The growth in the nickel market and the price increases predicted in 1970 have not mat-erialized. Several plants have been construct-ed, particularly to treat lateritic ores. A spectacular increase in cost of energy and the escalation of capital costs have led to severe economic difficulties on the part of many nickel producers. Several of the nickel prod-ucers joined together to form a Nickel Develop-ment Institute in 1984 with the prime objective of improving nickel markets. Most producers have taken exceptional action to cut overall costs as well as unit costs. Another organiz-ation made up of nickel producers, NiPERA, was established in 1980, to study and take action on problems of nickel in the environment and especially in the workplace.Ion exchange, and particularly continuous ion exchange, has been developed into a reli-able commercial unit operation in the last dec-ade. An example of how ion exchange combined with hydrogen reduction can be integrated into a Caron type reduction roast ammonium carbonate leach process for the recovery of nickel from laterites is discussed.

Jan 1, 1985

By A. H. Morris, W. Harrison

1. INTRODUCTION Roadheaders have a shadowy origin - probably in Eastern Europe - but were introduced to Europe and the West by the importation of a Russian PK3 machine by the National Coal Board in 1961. A number of features rendered this type of machine an attractive tool for coal mine operators: its flexibility of operation, its combined cutting and loading ability, the opportunity it provided of making any shape of roadway, as well as its ability to cut some rocks. Encouraged and sponsored by the National Coal Board, the development of roadheaders was taken up in Great Britain, notably by Anderson Strathclyde and Dosco; in Europe, predominantly in numerical terms by Voest Alpine and Paurat. Over the 24 years since the importation of the first PK3, evolutionary development has taken place to the extent that machines are now available in many forms up to 120 tons in weight. Machine design has altered, partly as a result of increased power requirements and partly in line with the use of a ripping or a co-axial head. However, the basic concept remains: a boom containing a motor and transmission gear, with a driven cutting head at its extremity and capable of universal movement urged by hydraulic rams mounted on the boom turret and on the machine deck. Generally, the turret, hydraulic powerpack and all other necessary equipment are mounted on a chassis, which contains a discharge conveyor, the whole being carried on caterpillar tracks so that a complete machine entity is provided. Figure 1 shows how the weight, power and - non-proportionally - the cutting ability of machines have increased over the years. From

Jan 1, 1985

By T. J. Jr. DeMull, F. G. Miller, J. P. Matoney

For some time a need had existed in the minerals processing field for a relatively efficient separator that would treat high tonnages of particles in the intermediate size range, i.e., those particles too large for froth flotation and too small for conventional gravity-type separa¬tors. Among those devices developed to meet this need are the centrifu¬gal specific gravity separators. These devices employ centrifugal acceleration to assist gravitational acceleration in separating light¬density minerals from heavy-density minerals. In the category of centrifugal specific gravity separators are the heavy-media centrifugal separator and the water-only cyclone. The two major centrifugal heavy-media separators, i.e., the heavy-media cyclone and the DynaWhirlpool, as well as the water-only cyclone, are discussed in terms of: design features, operating variables, operat¬ing data, and flowsheet design criteria. Examples of plant applications are given in the field of coal processing as well as the processing of other minerals such as iron ores, potash, and tin. Finally, the subject of the staging of centrifugal separators and their use in combination with other separators is discussed. PRINCIPLES For coarse sizes of minerals, efficient specific gravity separations have been possible for many years with open-bath vessels using the natural settling velocity or buoyancy of the particles. These bath ves¬sels process ore by utilizing micron-size solid particles suspended in the slurry fed to the separator. The inclusion of these particles in the slurry increases the effective density of the separating fluid to allow particle separations to be made at densities greater than that of water. However, if vessel size is to remain within economical limits, the particles processed in the bath vessel must have high settling rates in a IG gravitational field. Because of this requirement, heavy¬medium bath vessels are usually restricted to processing +V4-in. sizes. To extend efficient specific gravity separation to smaller sizes, the gravitational acceleration of particles is replaced by centrifugal acceleration. The settling of a small particle in a fluid in a centrifugal force field is similar to that found in a static bath except that the acceleration due to gravity, g, is replaced by a centrifugal acceleration where v, is the tangential velocity at radius r: V=kdm(P-P,), V'. (J) µ In more practical terms where the particles settle in a suspension of finer particles comprising the heavy media and with an effective suspension density p" V = kdm' (P P ) . v'. (2) U r To date the most effective use of this principle has been obtained with devices that rotate a liquid or suspension within a stationary enclosure in order to create centrifugal force. Cyclones are the most common devices used for this purpose, because they generate centrifu¬gal forces far greater than the force of gravity and therefore not only have high capacities but can treat finer sizes than bath-type vessels can. The two main types of cyclones used by industry are the heavy-media cyclone and the water-only cyclone. Also quite widely used is the DynaWhirlpool, which, though based on the same princi¬ple, differs in design from the conventional cyclone. HEAVY-MEDIA CENTRIFUGAL SEPARATORS Like the bath vessels, the heavy-media centrifugal separators em¬ploy media composed of micron-size particles suspended in water. However, the centrifugal force generated in these separators accentu¬ates the difference in settling rate between particles of different density and thus makes possible separations of finer size particles than can be treated in bath vessels. The two most common heavy-media centri¬fugal separators are the heavy-media cyclone and the DynaWhirlpool. Heavy-Media Cyclone Although cyclones were originally developed for use as classifiers or thickeners, it was later found that they could also effectively serve as heavy-media separators.63. 64, Design Features Fig. I I is a schematic of a typical cyclone developed to serve for any one of the following purposes: as a classifier, thickener, or specific gravity separator. The cyclone consists of a cylindrical section joined to a conical section, usually having an included angle of between 14° and 25°. Feed enters the cyclone tangentially through an orifice attached to the cylindrical section. The overflow orifice is located in the base plate of the cylindrical section. The vortex finder, a tube attached to the overflow orifice, extends into the cyclone from the base plate of the cylindrical section. The underflow orifice is located at the apex of the conical section. As some medium together with mineral particles is fed through the feed orifice, a vortex with a hollow air core extending from the overflow to the underflow orifice forms in the cyclone while hollow spray discharges form at each of these orifices. Under the influence of the centrifugal force, high specific-gravity particles move through the medium to the wall of the cyclone and descend in a spiral flow pattern to the underflow orifice. Those particles in the feed stream, lower in specific gravity than the feed medium, follow the major portion of the flow to the center of the core where they are caught in the high-velocity upward central current and are carried out through the overflow orifice. Fig. 12 shows a family of curves that illustrates how materials of varying specific gravity are recovered by a cyclone. Since the specific gravity of the medium is 1.40, the particles of 1.40 sp gr actually act as part of the medium and, regardless of the particle size, split between the underflow and overflow of the cyclone in proportion to the volume split of the medium. Particles higher in specific gravity than 1.40 are recovered in the underflow of the cyclone at increasing rates as the difference in specific gravity increases and the particle size increases. Particles lower than 1.40 in specific gravity are dis¬charged through the overflow orifice at increasing rates as the specific¬gravity difference increases and the particle size increases. However, all the curves originate at the fluid-flow ratio point for the finest particles of any gravity. The fluid-flow ratio is defined as the ratio of the rate of fluid flowing from the underflow to the rate of fluid

Jan 1, 1985

By James J. Tansey

A Deep Foundations Institute meeting with the University of Michigan at Ann Arbor in March of 1984 featured legal rights under Differing Site Conditions. A workshop conducted by the authors and Gerard Ittig, Esq. added to the value of the symposium. This paper will be of interest to your attorneys in any subsurface disputes.

Jan 1, 1985

By P. J. Kinver

This paper deals with the development of the cut-and-fill mining method at the Broken Hill orebody of Black Mountain Mineral Development Company (Pty) Limited, at Aggeneys in the north-western Cape Province of South Africa. Lead, copper, zinc, and silver are produced. Production started in January 1976, being confined to blasthole production methods in the upper, steeply dipping areas of the orebody. This blasthole reserve is 70 per cent depleted, and pillar extraction is in progress. The balance of the production tonnage, 60 kt per month, is produced from three cut-and-fill stopes situated in the flatter-dipping areas of the orebody. The cut-and-fill mining method at Black Mountain is a result of research and planning activities that included the use of modelling, laboratory tests, mathematical analyses, in situ tests, and experience gained from other mining operations. These investigations and the resulting developed methods and designs are summarized in the paper.

Jan 1, 1985

By D. Diekman

Perlite is not a trade name but a generic term for naturally occurring siliceous volcanic rock. A distinguishing feature which sets perlite apart from other volcanic glasses is that when heated to a suitable point in its softening range, it expands 5 to 20 times its original volume. This expansion is due to the presence of 2% to 6% combined water in the crude perlite rock. When quickly heated above 1600°F (871°C) crude perlite pops in a manner similar to popcorn. The combined water vaporizes and creates countless tiny bubbles in the heat softened glassy particles. It is these tiny glass sealed bubbles which account for the amazing lightweight and other exceptional physical properties of expanded perlite. The bulk densities of the expanded perlite generally range from 3 pounds per cubic foot (48 Kg M3) to 10 pounds per cubic foot (160 Kg H3).

Jan 1, 1985

By Suzanne Young

The effect of LiF additions on liqt.1id1.:1s temperature and electrical conductivity over a wide range of cryolite bath ratios (1.0 to 1.5 weight ratio) was investigated. Results did not agree with multi-regression equations reported by Dewing and Choudhary over the entire region. New regression equations were developed. Reasons? are given for the differences. The models are used to discuss the economic implications of LiF additions to Hali cell electrolytes.

Jan 1, 1985

By Stanley W. Ivosevic

The commercial success of this low-grade property by Houston Oil and Minerals Corp. (succeeded in interest by Houston International Minerals, Inc.) resulted from credibility of analytical data furnished by the property vendor upon initial examination and from other favorable geologic criteria in evidence; from negotiation of lease terms not detrimental to project economics; from entrepreneurial exploration management; from an encouraging attitude by the US Forest Service; and from the favorable mining and metallurgical characteristics of the ore body. The potential of the property, but not its location, was brought to the attention of the project manager (the author) by the vendor some time before accepting employment with HO&M. In December, 1977, the vendor granted an examination to the project manager, by then an employee; and a lease to the 15 mining claims embracing the property was executed in April, 1978. (See Fig. 1.) Field work and extensive claim staking in this virgin district commenced in May, with drilling beginning in August. At the point that an apparent discovery was recognized in October, only $98,000-including property payments-had been expended on the project. By April, 1979, the deposit was drilled out on 60-m (200-ft) centers and a preliminary re- serve estimate, discounted cash-flow analysis, and recommendations for mine development and additional exploration submitted to management-all at a cost well below budget. The property was recommended for acquisition after matching favorable geologic criteria developed by the project manager. Favorable lithology, structure, and geochemical zonation converged on a subdued low-temperature hydrothermal alteration zone subtly expressed on a pediment surrounding the heart of the property, from which approx [ ]

Jan 1, 1985

By P. Somasundaran

Adsorption of a nonionic polyacrylamide (PAM), an anionic polyacrylamide with sulfonate functional groups (PAMS), and a cationic polyacrylamide with amine functional groups (PAMD), on hematite was investigated as a function of different solution conditions. Adsorption results indicate that the major mechanisms of adsorption of polyacrylamides on hematite is through hydrogen bonding, with electrostatic forces playing a secondary role. All the polymers exhibited irreversibility of adsorption upon dilution. Also, entropic effects were determined to be important in adsorption. Surface chemical properties of hematite and solution chemistry of the polyacrylamides are considered to explain the polymer adsorption behavior on hematite.

Jan 1, 1985

By D. C. Dahlin

To identify and characterize potential domestic chromium resources, the Bureau of Mines investigated podifom chromite deposits along the Border Ranges Fault in southern Alaska. Part 1 of this two-part report describes an extensive field investigation and preliminary resource evaluation studies by the Bureau's Alaska Field Operations Center. This paper, part 2, describes the mineralogy of 38 samples that were collected from low-grade deposits in the Chugach Mountains, on the Kenai Peninsula, and on Kodiak Island, and presents the results of laboratory batch beneficiation tests designed to concentrate the chromite. The samples are peridotites and chromites that consist primarily of variable amounts of chromite, olivine, and serpentine. They were beneficiated by a sequence of grinding, sizing, and gravity concentration operations. Twenty-four high-chromium or marginal high-chromium chromite concentrates, six high-iron or marginal high-iron chromite concentrates, and five submarginal concentrates were produced with chromium recoveries that ranged from 37 to 95 pct. Three very low-grade samples were not beneficiated. These results indicate that several of the de- posits may be significant chromium resources, Potential precious metals association with the chromite was also investigated. Analysis of these samples indicates that the chromite deposits are not good platinum sources.

Jan 1, 1985

By Mahesh C. Meyer Jha

AMAX has developed a chloride refining process to produce pure nickel and cobalt metals from mixed sulfide .precipitates, Metal chloride solutions, generated in a hydrochloric acid leaching step and purified in a solvent extraction circuit, are converted to metal oxides .and HCI gas by pyrohydrolysis. A pilot plant consisting of a 30-inch diameter fluidized bed reactor and other ancillary units was designed, constructed, and operated for over one year. Process design was aimed at minimizing energy consumption, maximizing conversion efficiency, and achieving simplicity of operation and control. The operation provided valuable information on process scale up parameters, process control strategies, and materials of construction., Several process variables such as bed temperature, solution composition, solution feeding system, bed particle size distribution, and fines recycle system were investigated to determine their effects on process efficiency and the physical and chemical characteristics of the product.

Jan 1, 1985

By P. A. Rittenhouse

Reserves of potash are more than adequate to meet future world demand for this primary fertilizer nutrient. The bulk of both reserves and current production is located in only a few countries. Recent attention has focused on potential development of smaller reserves to supply local markets in developing areas of the world. However, most new capacity in the next decade will be built in countries with large current production and reserves. The paper reviews current and future projects that will add to the world supply of potash.

Jan 1, 1985

By R. V. Ramani

This volume is the third of a four-volume final report on research carried out under a contract from the U.S. Bureau of Mines on the development of a computer simulation model for surface mine reclamation planning. The other volumes are titled as follows: Volume I: Ore Reserve Estimation, Volume II: Dragline Model, and Volume IV: User's Manual for OPMHS/2. The Mine Coordinate Generator System serves as an interface between the Geology and Reserves System (Volume I, final report) and OPMHS/2 (Volume IV, final report) to provide local mine grid information which is used as input to the decision making process and dynamic simulation routines of OPMHS/2. After the Geology and Reserves System has been successfully run for a property, a data base containing values for each grid cell covering the property is created at the end of execution, if chosen as an option by the user. The Mine Coordinate Generator reads this information and creates a special direct access data set from the sequential data input. When information defining the mine grid is read, the values present in the property grid are for the interpolation of values for each mine block.

Jan 1, 1985

By J. D. Miller, M. B. Mooiman

It has been discovered that gold can be extracted from alkaline cyanide solution with primary, secondary, and tertiary amines by adding certain Lewis base modifiers, such as organic phosphorus oxides. Under these circumstances, gold can be extracted at about pH 10, commensurate with the pH of cyanide leach liquors. The selectivity of the amines and amine/modifier combinations for Au(CN)[2] over other metal-cyanide complexes is discussed. Potential applications for the solvent extraction of gold from cyanide solutions are also discussed.

Jan 1, 1985

Aluminium, the third most abundant element in the earth's crust, has been regarded by some people as the metal of the 20th century. A metal symbolising another great leap forward in man's technological development.From the stone age man advanced to the bronze age, the iron age and now the age of aluminium.The 19th Century discovery of elec-tricity was quickly followed by the discovery of the Hall-Heroult process of smelting aluminium. It is this same basic process we use today.

Jan 1, 1985