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By L A. Martinez Tipe, J McKibben, S Barry

"Metal prices are central to a mineral investment decision and have a profound impact on the financial performance of companies in the mining industry. At its most basic level, metal prices are influenced by the disequilibrium between international metal volume supply and demand. That is, the commodity price is a regulator that equates international metal supply and demand where inventories act as a buffer between the emergence of this disequilibrium and its dissolution through a price change.From this viewpoint, mining companies are required to forecast metal and bulk commodity prices when evaluating minerals projects through discounted cash flow (DCF) analysis. While supply-demand models are instructive, many companies use historical prices, spot prices, futures/forward pricing and consensus opinion (or a combination of all of these) to develop price forecasts.This paper discusses the definition, fundamentals and differences between futures/forward and consensus pricing and the appropriateness of each in a DCF model for mine project economic evaluation.Our results demonstrate that great care is required when using either futures/forward or consensus pricing and that the decision to use one rather than the other requires consideration of other important elements in the DCF model (ie the risk-adjusted discount rate).CITATION:Martinez Tipe, L A, McKibben, J and Barry, S, 2016. Metal prices and the differences between forward and consensus pricing – which one is better for use in a discounted cash flow model?, in Proceedings Project Evaluation 2016, pp 149–158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

The most expensive unit operation in the beneficiation of ores is grinding. The correct design of the grinding circuit is crucial to prevent unnecessary use of energy. Proper design and evaluation of SAG grinding circuits require the specific grinding energy, which is determined experimentally. The most common tests in SAG grinding are the Drop Weight Test, from the Julius Kruttschnitt Mineral Research Center (JKMRC) in Australia, and the SAG Power Index, from MinnovEX Technologies in Canada. The application of these tests to the same ore sample commonly produces different results. The work reported here aims at comparing the application of these two tests in the determination of the specific grinding energy for sulfide copper ores from Sequeirinho and Sossego deposits, Sossego Project, Companhia Vale do Rio Doce - CVRD, in Para state, Brazil.

Jan 1, 2007

By Jan A. Nemcik

Steel mesh has been used successfully for many years to control friable roof conditions and prevent loose roof and rib material from caving into the roadway. Despite its extensive use, the installation of steel mesh is difficult to automate and many other products have been evaluated as an alternative for skin control. Ideally, the properties of these new products should be similar or better than those of the steel mesh. In particular, development of a strong and resistant shell that minimizes movement along the fractured rock and coal surfaces between the bolt anchors is recommended. A strong surface adhesion and the strength of a reinforced polymer skin can provide the necessary toughening mechanism required to enhance roadway surface support by forming a reinforced polymer/rock surface layer. Most of the Thin Spray-on Liners (TSL) evaluated in the mines are weak with slow curing times, and the plastic mesh currently used to support the coal ribs is relatively weak. Therefore, neither material can seriously compete with steel mesh. Currently, a new polymer product that cures in seconds and forms an instantaneous strata binder that surpasses the properties of steel mesh is under development at the University of Wollongong.

Jan 1, 2009

By Neil T. Davie, Thomas K. Blanchat, Thomas C. Togami, Joe R. Weatherby, Dale S. Preece, Robert A. Benham, James J. Calderone

"Geotechnical structures ,such as underground bunkers, tunnels, and building foundations aresubjected to stress fields produced by..the gravity load on the structure and/or any overlyingstrata. These stress fields may be.. reproduced on a scaled model of the structure byproportionally increasing the gravity field through the use of a centrifuge. This technology canthen be used to assess the vulnerability of various geotechnical structures to explosive loading.Applications of this technology include assessing the effectiveness of earth penetrating weapons,evaluating the vulnerability of various structures, counter-terrorism, and model validation. Thisdocument describes the development of expertise in scale model explosive testing ongeotechnical structures using Sandia’s large scale centrifuge facility. This study focused onburied structures such as hardened storage bunkers or tunnels. Data from this study was used toevaluate the predictive capabilities oft existing hydrocodes and structural dynamics codesdeveloped at Sandia National Laboratories (such as Pronto/SPH, Pronto/CTH, and ALEGRA)."

Jan 1, 1998

By Dominic Fragomeni

"The mineral processing industry has had a long history of innovation that is recognized but not often celebrated. These include significant advances in mineral measurement, testing, comminution, mineral separation and process control technologies that have transformed mineral assemblages into ore.This presentation presents some of the major mineral processing innovations and the impact they have had on our industry. As we look to the future, it is critical that we innovate and change. We will explore some examples of the next developments and how they can be catalyzed in the face of risk management, lower metal price cycles, resource constraints, inertia and the challenge of short term value delivery."

Jan 1, 2017

By Bruce K. Cantrell, Jon C. Volkwein

Exposure to mineral aerosol is an occupational health hazard in mining and mineral processing industries because of the risk of developing pneumoconiosis. Agricola (1556) described this hazard for metal mining in Carpathia. He described shortness of breath and consumption, conditions that are now associated with asthma and emphysema. By the end of the nineteenth century, several respiratory diseases were known to affect miners, including silicosis and coal workers' pneumoconiosis (Fletcher, 1948; Seaton et al., 1981). For example, silicosis, not tuberculosis, was clearly recognized as the hazard in the Vermont granite quarries and stone-cutting sheds (McFarland, 1927). The Gauly Bridge Tunnel disaster in the mid-1930s caused the deaths of an estimated 700 workers by acute silicosis and focused the nation's attention on this disease (Cherniack, 1986). By the mid-twentieth century, it was clear that risk of simple pneumoconiosis is associated with a miner's cumulative exposure to mine aerosol in the respirable size range and that prevention lies in reducing that exposure through regulation (Seaton, 1986). In the United States, regulation of mine worker exposure to airborne mine dust is the responsibility of the Mine Safety and Health Administration (MSHA) in the U.S. Department of Labor. The key legislation relating to improved mine worker health was the Federal Coal Mine Health and Safety Act, enacted in 1969 (U.S. Congress, 1969) and subsequently amended as the Federal Mine Safety and Health Act of 1977 (U.S. Congress, 1977). MSHA receives technical assistance from the National Institute for Occupational Safety and Health (NIOSH). NIOSH also provides recommended exposure limits (RELs) for contaminants to MSHA. MSHA's regulation of mines includes the establishment of a dust standard administratively based on the these RELs. Some mine operators must submit a dust control plan designed to meet the dust standard. Periodic mine inspections determine if mines are com- plying with both the dust standard and the dust control plans (MSHA, 1991). The most common dust measurements are those for respirable dust (according to the definition given in Fig. 26-7), that is, the fraction of aerosol particles able to reach the gas exchange region of the lungs. The other health-related size fractions (inhalable and thoracic-see Fig. 25-1, and "total" dust) are also occasionally measured. A "total" dust measurement is defined by the common practice of the last 30 years or so, using 25 mm or 37mm plastic cassettes (e.g., from PAL, MIL, SKC ). The types of mines have been categorized

By John C. Heter

The P.W. Gillibrand Company holds 705 placer and lode claims in the Precambrian San Gabriel Anorthosite Complex of the western San Gabriel Mountains. These claims contain large tonnages of ilmenite, magnetite and apatite with anomalous quantities of zirconium (zircon), niobium, vanadium and rare earth elements. Stockpiling of heavy mineral concentrates associated with aggregate mining from alluvial pits has occurred since 1984. The limited reserves of material from these alluvial deposits and their relatively low heavy mineral grades caused Gillibrand Company to initiate an extensive drilling and exploration program to develop the hardrock resources of ilmenite, apatite and magnetite.

Jan 1, 1995

By M. A. Hammer

In this study by the Federal Bureau of Mines Pennsylvania anthracite from the Eastern Middle field was oxidized by concentrated nitric acid at steam-bath temperature for 24 to 1,000 hours. The quantitative data obtained include yields of nitric-acid soluble and insoluble products and the distribution of carbon and ash in each. The acid-insoluble residues were examined for solubility in aqueous sodium hydroxide. With a sodium hydroxide concentration of at least 1 normal, a portion of the residue could be extracted in the form of a true solution. With lower alkali concentrations, peptization occurred. Alkali solubility of the residue increased with length of oxidation. However, when expressed in percentages of original coal weight, the alkali solubility remained essentially constant after 192 hours of oxidation. This suggests that the alkali-soluble products are converted to acid-soluble products at the same rate as the original coal substance is converted to alkali-soluble material. Microscopic observations of the peptization of the acid-insoluble residues revealed a gross micellar physical structure. The action of nitric acid is apparently not restricted to the surface of a coal particle. The acid penetrates the particle through the pore structure, dissolving some of the ash and altering the bonds between the coal micelles. The bond alteration, as indicated by ultimate analyses, involves the physical and chemical adsorption of the components of nitric acid. Some of the altered bonds are not thermally stable; this instability is shown by the complete loss of peptizing ability when the acid-insoluble products are heated above 200° C. This loss is accompanied by the evolution of water, oxides of nitrogen, and hydrocyanic acid.

Jan 1, 1961

By Pathies Nawej Muteb, Tom Strombotne, Karl Leetmaa, Irma Gabric, Keith Darby

"Continuous control of the final grinding product size is important to optimize gold liberation for Gold Milling operations. At Meadowbank Mine an on-line Particle Size Monitor has been employed successfully to achieve the targeted final grind which leads to optimizing the gold recovery at maximum grinding circuit throughput. The live monitoring of the final product particle size leads to a maximum grinding circuit throughput every minute during the process. This paper discusses the optimal utilization of the Particle Size Monitor to assist the Mill operator to maximize the grinding circuit throughput as the milling conditions change due to variable ore processed at Meadowbank Mine. Also the paper includes the usage of the Particle Size Monitor to guarantee the final grind target at each instant of the process.IntroductionAgnico-Eagle is a Canadian-based company that Trades on the TSX & NYSE (AEM). It owns eight mines (8) operating in Nunavut, Quebec, Finland and Mexico and has more than 7,500 employees (Figure 1). 1.6 M ounces of gold were produced in 2015 and the annual average annual production from 2016 to 2018 is forecast to be approximately 1.53 million ounces of gold.The Meadowbank Mine is located in Nunavut, Canada (Figure 2). The mine opened in 2010 and from 2010 to 2014 a total of 1.8M oz of gold was produced. The milling rate is 4.2 Mt per year with an average mill throughput of 11,900 tpd or 496 tph. Average annual gold production over life of mine is expected to be 450,000 ounces. Meadowbank has 775 employees, of which 265 are Inuit or 36% of the total workforce. Estimated life of mine is 2010 to 2018. Gold production in 2015 was 381,804 oz. Meadowbank was Agnico-Eagle’s largest Gold producer in 2015."

Jan 1, 2017

By Robert E. Thurmond

With modern exploration techniques, it seems likely that an increasing number of the orebodies to be found in the future will be under alluvial fans or valley fill. As a result, a larger proportion of open pit mines will be confronted with the necessity for removal of substantial quantities of alluvial overburden; whereas in the past, for the most part, the open pit mine operator has dealt mainly with hard rock. If this proves to be the case, methods, equipment, and costs for alluvium stripping will become an increasingly important factor in open pit mine planning. Several operations are now faced with this situation, and various methods and equipment are used. At Pima Mining Company's operation the stripping ratio is in the range of 6/1 Well over half of the stripping volume is alluvium. The alluvium is removed almost entirely by carryalls hauling direct to a waste dump. Some removal has been accomplished by shovel and truck operation; more will be done by this means in the future. At American Smelting and Refining Company's neighboring .Mission Mine, nearly all alluvium removal is by large shovels and, trucks. U. S. Borax's Boron operation is accomplishing alluvium removal with carryalls but has been investigating other methods and equipment. The various operations in the Gas Hills Uranium District in Wyoming are stripping mainly with carryalls, although some small draglines are employed. The M. A. Hanna Company in the Mesabi Range employs large draglines and conveyor systems for removal of glacial fill. Nchanga Consolidated Copper Mines in Northern Rhodesia strips overburden with a large excavating wheel and conveyor system. There are no doubt other open pit operations with which the writer is not familiar, that are handling large quantities of alluvial overburden.

Jan 1, 1963

By William R. Yernberg

The Mineral Processing Plant Design, Practice and Control Conference was held from Oct. 20through 24, 2002, at the Fairmont Hotel, Vancouver, British Columbia, Canada. The conference was attended by nearly 400 of the world’s top mineral-processing specialists, including plant-design engineers, mineral-processing consultants, academics, suppliers and equipment manufacturers. The meeting was sponsored by SME and cosponsored by the Canadian Mineral Processing Division of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). The conference covered all aspects of mineral-processing design, construction and operation. The meeting included more than 130 technical presentations. Topics included sampling programs, feasibility studies, design criteria, process technologies, construction, start-up operations and shutdowns. To stimulate interaction and discussion throughout the five-day conference, the sessions were presented consecutively. Attendees had the opportunity to attend every session.

Jan 1, 2003

By Martin Froehling, Curtis Mohns, Rahim Rajwani, Michael Fullam

"The Kemess mining and milling complex is operated by Northgate Minerals Corporation and is located in the mountains of north-central British Columbia, 430 kilometers northwest of Prince George. The complex consists of the Kemess South open pit mine and a 52,000 tonnes per day mill. Hypogene, supergene and leach cap ores are processed using conventional crushing, grinding, and flotation techniques to produce gold-copper concentrates with minor by-product silver value.The rougher flotation concentrate is re-ground in closed circuit before being cleaned to final concentrate grade. Historically, gold losses in the cleaner tailings were primarily associated with pyrite, with only minor amounts of free gold. More recently, with the processing of high pyrite ores, the major losses were found to be free gold less than 10 microns in size. The fine grind required for the high pyrite ores resulted in over-grinding of the free gold particles in the regrind circuit, contributing to poor flotation characteristics. It was thought that if this free gold could be recovered by gravity at coarser size in the regrind circulating load, the free gold losses in the cleaner tailings could be reduced.Preliminary test work carried out by Knelson Gravity Solutions indicated the potential for free gold recovery in the regrind circuit. A Knelson XD-30 Concentrator was installed with variable speed capability, and a series of optimization tests were carried out. In addition, cleaner tailings were characterized with gravity operating and with gravity not operating to determine the overall gold recovery benefit. The single Knelson XD-30 installation recovers ~10% of the total gold in the regrind circuit and increases overall recovery by 3% when high pyrite ores are processed."

Jan 1, 2007

By N. N. Orekhova, I. V. Shadrunova, N. G. Novikova, N. ?. Volkova

The purpose of the research is scientific substantiation and formulation of strategy and technical solutions of handling liquid wastes of plants producing and refining copper-zink pyritic ores. In the course of research studied are chemical composition of technogenic waters of mining plants as well as water and alluvia of intake river within and outside a sanitary zone of Southern Ural mining plant using inductively coupled plasma mass-spectrometry and X-ray fluorescence analysis techniques. A particular focus is made on microcomponent composition. Novel data on Cd, Li, Be, Mn, Co, Cu, Zn migration with technogenic flows and accumulation of these elements in alluvia is obtained. It is showed that extraction of valuable components from technogenic waters is a novel problem for refiners that can be solved only in cooperation with mining industry ecologists. Laboratory research of selective copper and zink extraction into corresponding practical products by galvanocoagulation and sulphide precipitation is carried out. Common factors of phase formation are studied using physicochemical modeling, X-ray phase analysis and electronic microscopy. Methods of intensification of processes and increasing of extraction ratio of metals in products are elaborated. A technology of comprehensive processing of undersoil waters is proposed. Enlarged laboratory and pilot plant tests of technological solutions for protecting hydrosphere and extracting metals from mine waters carried out on several plants of UMMC-Holding Corporation showed a possibility of obtaining additional products having weight content of metal which is profitable for consequent metallurgical processing and purification of waters to comply with quality standards. A possibility of transformation of technological chain depending on season variability of water quality is put behind the designed technological schemes.

Jan 1, 2018

Increase the safety of operators of front-end loaders by providing a means of monitoring the machine's stability. Approach Through a research contract, the Bureau of Mines developed a front-end loader stability indicator which provides the machine operator with a reliable, easily interpreted display assessing the stability of the machine. How It Works Statistics show that front-end loader accidents are the largest single category of machinery-related accidents in the surface mining industry. Many of the fatalities resulting from these accidents occur when front-end loaders rollover and either crush the operator who is trapped within the cab or strike the operator who is trying to jump to safety. Although rollover protective structures (ROPS) are required by law on front-end loaders to protect operators in the case of a rollover, these do not prevent the actual rollover from occurring. In fact, the operator has no way of evaluating the stability of the machine except by using personal judgment. The Bureau of Mines responded to this problem by developing a front-end loader stability indicator whose primary function is to Indicate to the operator when the machine is approaching an unstable situation which may trigger a rollover. The device bases Its interpretation on measurement of the normal loads on the machine's wheels. Strain gage instrumentation located on the machine is used to monitor the magnitude and change of forces acting normal to the front-end loader's wheels. These forces are direct indicators of the machine's center of gravity relative to its position on the ground. The strain gages are connected to electronic circuitry which amplifies and processes the signals. Stability or instability of the loader is relayed to the operator through a display of green, amber and red lights.

Jan 1, 1986

By Theodore B. Comstock

The existing topographical features of the United States present many points of interest to the student of dynamical geology, but there is, perhaps, no subject which offers a more promising field for investigation than the relations between the geological structure and the mineralogical characteristics of the principal mining districts. There are seven prominent culminating points in the relief of North America, each one of which can be used as a type of the physical features of all the others. Again, if we divide these seven elevated districts into two sets, we shall discover a still more striking parallelism between the individual members of each group. But the most remarkable revelation is the fact that each one of these points is more or less closely the centre of an area of economically important mineral resources. It is interesting to note in this connection that six of these mineral tracts lie mainly within the borders of the United States, three of them being almost wholly in our territory. For

Jan 1, 1883

By M. E. Poad

Structural properties of steel-fiber-reinforced shotcrete and polymer-impregnated shotcrete, both plain and fiber-reinforced, were investigated by the Federal Bureau of Mines, Spokane Mining Research Center. The research center has found that flexural strengths can be increased by as much as 106 percent, and splitting-tensile strength by 50 percent, by introducing randomly oriented steel fibers. A slight decrease of compressive strength was found in the fiber-reinforced shotcrete. Polymer-impregnated shotcrete exhibited a threefold to fourfold increase in compressive and splitting-tensile strength. The techniques of preparing shotcrete with the dry process, using both fast-set agents and regulated-set cement, are described, along with the results of physical-property testing. Physical properties include compressive and splitting-tensile strengths, tangent and secant moduli, and stress-strain curves for plain shotcrete, fiber-reinforced shotcrete, and polymer-impregnated plain and fiber-reinforced shotcrete. Flexural strengths for plain and fiber-reinforced shotcrete are also reported. Steel-fiber shotcrete is the more promising of the new structural materials for ground support, and additional research is recommended.

Jan 1, 1975

The Mineralogical Researches of Gold Ores and Technological Products at Operating Factory in Olympiada Mine (Russia)

Sep 13, 2010

The variation of carbon monoxide and hydrogen utilization with the amount of the reductant in the blast furnace bosh gas was investigated for the No. 4 blast furnace at The Broken Hill Proprietary Co. Ltd.iron and steel works. Newcastle. The degree of CO utilization decreased with increasing CO in the bosh gas; the H., utilization increased with the H., content of the gas. Empirical relationships for CO and H., utilization are proposed.H2, is 3-6 times as effective a reductant as CO at present levels of CO (34-39 per cent) and H2 (6-10 per cent) in blast furnace bosh gas. H2, gas injection into the blast furnace is proposed as a means of lowering the coke consumption, and the economics of H2 injection are evaluated.

Jan 1, 1975

To rapidly limit and interrupt high dc fault currents with minimal arcing in the mine atmosphere. Approach Design a dc switching sys-tem which uses a pressurized, liquid metal-filled, change-of-state device combined with a conventional interrupter and commutating switch. Direct Current Interruption Switching and interruption of large direct currents imposes severe loads on fuses, contactors, and circuit breakers in mine power systems. This problem is much more pronounced with de than with ac because of the lack of a natural current zero in dc. Dc interruption is characterized by persistent arcing that can foul contact tips and con-tribute to interrupter failures. To reduce maintenance and prolong the service life of these units, a commercially viable dc switching system has been developed by the Bureau of Mines through a research contract with the University of Pittsburgh. This system rapidly limits and interrupts high fault currents when used in combination with conventional interrupters.

Jan 1, 1983

By R. Kanniganti

The primary problems of pillar design in seams subject to interaction are due not only to difficulties in predicting loading, but also to the often unsymmetrical nature of the stress fields. The effects of uneven stress fields on failure patterns within a pillar were studied wing a two dimensional finite element method. Lower seams, including ultra- close mining situations were evaluated considering conventional pillars. Pillar case study data for under mining were analyzed to determine if empirical trends in stable pillar sizing could be derived. Recommendations for multi-seam pillar design are made, based on anticipated loading conditions within a pressure bulb. Applications of the research results are demonstrated using case studies

Jan 1, 1995