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By Desmond Y. M. Lee

Computerized preventive maintenance has been a long sought goal in many industries. People have firmly believed that proper implementation of such a system can result in tremendous saving of money. However, the preventive part has always been left out without realizing it due to the inflexibility of coping with environmental changes. With this in mind, the Iron Ore Company of Canada has developed a computerized system which schedules maintenance jobs preventively.

Jan 1, 1977

By Atta Ur Rehman, Kwame Awuah-Offei

This work evaluated the effect of bucket orientation and operating parameters on resistive forces and penetration for rubber tire loaders. The work used a 1:16 scale LHD model to test a rubber tire loader (RTL) bucket operating at different levels of tractive effort, speed, digging height, and rake angles in a full factorial design experiment. The work repeated the test on two different muck piles with different particle sizes and used generalized regression modeling to test the association of rake angle, tractive effort, speed, and digging height on penetration and resistive forces for RTL buckets. The results show that speed and tractive effort are more important in explaining RTL penetration and resistive forces than height above the floor and rake angle. Speed, tractive effort, and height above the floor are positively correlated to bucket penetration, whereas the rake angle is negatively correlated to penetration. Similarly, speed, tractive effort, rake angle, and height above the floor are all positively correlated to resistive forces incurred during initial penetration. The observation that the combined effect of speed and tractive effort is negatively correlated to penetration and resistive forces is a novel contribution that enhances our understanding of RTL loading. The results also show that the effect of speed, tractive effort, and height above the floor all change with changes in particle sizes. This work adds to the literature on the effect of rake angle, height above the floor, tractive effort, and speed on penetration and resistive forces for rubber tire loaders.

Aug 24, 2020

By Earl R. White

In 1950 Kaiser Steel Corporation acquired control of the Utah Fuel Company, a pioneer Utah coal concern owning large reserves of high volatile coking coal near Sunnyside, Utah. The mines at Sunnyside have been producing high quality coking coal since the late 1890's. Kaiser Steel acquired the coal deposits at Sunnyside in order to supply the necessary coke for its steel plant at Fontana, California. The Sunnyside coal deposits are made up of two mineable beds, the upper and lower Sunnyside seams. Both seams outcrop along the southward facing escarpment of the Book Cliffs. The coal seams dip under the massive sandstones of the Book Cliffs to the northeast at 5 to 22 pct., with the steepest-part being near the outcrop. Mining at Sunnyside up to 1961 had been carried on with room and pillar methods. The deep cover and rotten roof conditions, along with the need of increased tonnage, required a change of mining technique. Numerous ideas were presented, discussed, and economically analyzed. Several people involved in these discussions, with the aid of W.W. II, had been introduced to the European methods of coal mining, namely the longwall technique. The European mines had long been plagued with near similar conditions as those at Sunnyside, particularly the deep cover problem. The longwall method seemed to be working very well under these conditions, and with the extensive studies given longwalling by the Kaiser Steel mining officials, it was decided to give longwalling a try.

Jan 1, 1976

By S. Holtermann

Through the process of Riverbank Filtration (RBF), the Louisville Water Company plans to obtain a higher quality source of water for their B.E. Payne Water Treatment Plant (WTP) by means of four collector wells located in the alluvial aquifer along the bank of the Ohio River. The collector wells are connected to a 2,850 L/s (65 mgd) pumping station by a 2,362 m (7,750 ft) long, 3 m (10 ft) finished diameter tunnel located in limestone and shale bedrock, which is approximately 45 m (150 ft) below the surface. High tunnel boring machine (TBM) production rates were achieved in this moderately weak bedrock; most of the tunnel only required support in the crown. An unanticipated water-bearing fault and unanticipated ground behavior proved challenging and required quick thinking to minimize impacts to construction. Tunneling conditions are discussed in detail, together with the methods used for overcoming the groundwater and ground behavior challenges. The tunnel is expected to be completed in April 2009.

By Louis J. Sousa

This Bureau of Mines report examines aggregate trends in foreign direct investment in the U.S. mining and mineral processing industries between 1977 and 1984, and provides an analysis of foreign investment in several major mineral commodity industries. In 1984, 11.1 pct of total employment in the U.S. minerals industry was at firms that were U.S. affiliates of foreign firms. In 1985, the proportion of U.S. capacity held by foreign investors in nine major mineral commodity industries was as follows: steel, 5 pct; silver, 16 pct; lead, 18 pct; aluminum, 25 pct; zinc, 26 pct ; copper, 30 pet; cement, 32: pct; gold, 44 pct; and ferroalloys, 56 pct. Almost 90 pct of the total foreign investment in the U.S. minerals industry was accounted for by eight countries-Canada, the United Kingdom, France, Federal Republic of Germany, Switzerland, Japan, Australia, and the Republic of South Africa. The most fundamental reason behind the growth in foreign investment in the U.S. minerals industry has been that an increasing proportion of U.S. mineral firms and assets have been for safe, while foreign mineral companies have been the ones most willing and able to purchase these firms and/or their assets. mile the growth in foreign ownership in the minerals industry has not been without controversy, it has helped save jobs, reduce the minerals trade deficit, and- from the national defense perspective-maintain the Nation's overall mineral and metal self-sufficiency at reasonably high levels. In the absence of domestic buyers, foreign investors have helped to maintain a viable domestic minerals industry.

Jan 1, 1987

By E. Rex, T. J. Goff, W. S. B. van Beek, P. E. Nel

"The PGM smelting industry is known for operating at significant high superheats. Both the slag and matte phases that separate via gravity need to be tapped out of the furnace in a safe and efficient manner, which can be achieved only through sound tap-hole management practices. This paper gives an overview of the tap-hole management approach followed in the operations at Lonmin’s Western Platinum Smelter.Five circular AC furnaces are operated, with each furnace comprising essentially a crucible and auxiliary equipment. Within the crucible, slag and matte tap-holes are situated at different elevations. The slag phase is tapped at a higher elevation than the matte phase. At the three older furnaces, tapping is done by the conventional method of lancing open the tap-hole and closing it with a dolly. However, at the two newer furnaces, tap-holes are opened and closed with the aid of a drill and mudgun.Tap-hole management can be divided in a number of aspects. In order to achieve a safe opening and closure every time, Lonmin distinguishes between three important aspects - the design of the tap-hole system, the operating practices followed, as well as care and maintenance. This paper briefly describes the tapping channel and cooling requirements for handling superheated matte, together with the difference in design of the matte and slag tap-holes. Mention is also made of the importance of auxiliary equipment, which includes the launders, fume extraction, granulation water, and mudgun and drill units. Improvements made to the matte tapblock design are discussed.The monitoring, alarm, and safety systems related to matte and slag tapping are described. Tap-hole life and different wear mechanisms are mentioned. Tapping can be done safely only if the tap-holes and equipment are maintained properly. Mention is made of the tap-hole refractory repair practices, and the improvements made in order to reduce repair time as well as to extend the time between deep repairs. The importance of the correct tap-hole clay selection in order to nurse the tapping channel after each tap is also discussed.The paper finally touches on some research and development work that was done in order to improve the monitoring of the condition of the tapblock by means of fibre optic temperature sensors"

Jan 1, 2014

By Laird Crocker

A goal of the Federal Bureau of Mines is to minimize the undersirable environmental conflicts and impacts associated with mineral processing operations. To help reach this goal the Bureau operated a citrate-process pilot plant for the removal of sulfur dioxide from lead smelter sintering machine waste gases to test the process. The process uses a carboxylate solution such as citric acid to absorb sulfur dioxide from waste gases. The absorbed sulfur dioxide is subsequently reacted with hydrogen sulfide to precipitate sulfur and regenerate the solution for recycle. Nominal capacity of the pilot plant was 1,000 scfm of 0.5 vol-pct sulfur dioxide gas. The pilot plant was operated for over 5,400 hr and produced about 55 net tons of sulfur. The operation demonstrated that (1) 99 pct of the sulfur dioxide could be removed from lead smelter sintering machining waste gases containing from 0.1 to 0.6 vol-pct sulfur dioxide, (2) sulfur precipitation and solution regeneration with hydrogen sulfide in conventional stirred vessels was readily controlled, (3) precipitated sulfur could be continuously recovered as a 99.S-pct-pure product by flotation and melting, and (4) 78 dry-vol-pct hydrogen sulfide gas could be produced from pilot-plant product sulfur, natural gas, and steam.

Jan 1, 1979

By R. S. Rosso

A program to investigate the effects of hardened washers on the uniformity of roof bolt tension and the resulting ground control in an underground mine was carried out. The complete roof bolt installation and roof bolt loads, mine convergence, and bed separation were monitored for a period of five months. The results show no evidence to support or refute the theory that mechanical roof bolts offer better support when they are installed with a high uniformity of tension. Also shown is the fact that if the bolts are installed with a maximum deviation from the mean torque of ±15% the addition of hardened washers significantly improved the uniformity of the installed tensions in the roof bolts.

Jan 1, 1977

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Jan 1, 2012

By J. F. Strunk Jr., K. M. Maestas, Y. Chai, R. Legrand, R. L. Henry

"Groundwater with elevated sulfate and metals was treated using a sulfate-reducing pilot PRB consisting of a series of six 55-gallon drums filled with ZVI (Fe0), wood chips, brewer’s grain, limestone, and emulsified vegetable oil (EVO). Sulfate was reduced from >3000 to <250 mg/L and Cd, Cu, Mn, Ni, and Zn concentrations declined up to 3 orders of magnitude in 2 months. After 6 months of operation at a 7.5-day retention time, sulfate broke through. The system was then rejuvenated by injecting EVO in each drum and operated for 5 more months at a 9-day retention time. Sulfate-reducing bacteria in the pilot system grew by 3 to 4 orders of magnitude in 2 months. Some cementation of the PRB media was observed in the first 2 drums after processing 25 pore volumes of water, due to preferential upstream precipitation of sulfides; this can be avoided through operational modifications. Resulting permeability losses were estimated at 0.1% to 1% per year. Absorption/desorption was tested at bench scale to evaluate the use of various oil-soaked sorbents as a slow-release source of dissolved carbon. The tests show that oil sorbents can increase the useful life of a PRB between oil refills to over 100 pore volumes. INTRODUCTION High sulfate concentrations, low pH, and dissolved metal exceedances are common characteristics of mining-influenced water (MIW). Above-ground such MIW is commonly treated using biochemical reactors (BCR). In a BCR, water generally flows vertically downward through a layer of biomass, such as wood chips, manure, etc. The dissolved organics resulting from the decay of this material are oxidized first by microbes using oxygen; when oxygen is exhausted, other bacteria can use nitrate, and then sulfate to oxidize organics. Sulfate-reducing bacteria (SRB) reduce sulfate to sulfide, which quickly reacts with metals to form largely insoluble and stable metal sulfides. These reactions can be summarized as follows:"

Jan 1, 2016

By Roberto Dalmaso, Vinícius Pesente Binotte, Luiz Alberto Moreira Andrade, Alan Amorim Margon, Davi Fiorese Bissoli

Esse trabalho tem como objetivo apresentar o equipamento de medição automática de placas desenvolvido pela ArcelorMittal Tubarão na área de condicionamento de placas. Anteriormente este processo era realizado de forma manual pelos inspetores. Esse equipamento visa facilitar a rotina de trabalho do inspetor e aumentar a qualidade da medição, assim como diminuir a dispersão dos dados eliminando a divergência nas medições das placas que se verificava entre diferentes operadores, além de possibilitar a criação de um histórico das medidas de toda placa. Para validação do equipamento o mesmo foi submetido a um sistema de analise de medição e teve seu resultado aprovado, no momento atual o mesmo se encontra em funcionamento para se realizar uma comparação estatística do seu desempenho em relação aos inspetores..

Oct 1, 2019

By Arno C. Fieldner, J. W. Paul, WALTER A. SELVIG

Many mine samples of coal are analyzed each year in the laboratories of the Bureau of Mines. The analyses are made in connection with investigations relating to fuels belonging to or for the use of the United States Government, the causes of accidents in coal mines, the geologic relations of coal beds, and the quality and the value of the coal and lignite in the public lands. The systematic collection and analysis of such samples in connection with fuel investigations was begun in 1904 at the Government fuel-testing plant at the Louisiana Purchase Exposition. and was under the direction of the United States Geological Survey for six years. Descriptions of the coal samples collected between the beginning of this work, July 1, 1904, and the transfer of the fuel-testing and mine-accident investigations to the Bureau of Mines,July 1, 1910, were compiled and published in Bureau of Mines Bulletin 22.' Descriptions and analyses of samples collected during the fiscal years 1911 to 1913 were published in Bureau of Mines Bulletin 85.2 Descriptions and analyses of samples collected during the fiscal years 1913 to 1916 were published in Bureau of Mines Bulletin 123.3 The present bulletin presents analyses and descriptions of samples collected during the fiscal years 1916 to 1919. In order that the material in this bulletin may be used to supplement that presented in Bulletins 22, 85, and ,123, the same plan of geographical classi- fication has been followed, the analyses and descriptions of the samples being grouped in alphabetical order according to the State, county, and town near which the mines or prospects sampled are situated.

Jan 1, 1922

By G. M. Brownell

Introduction The Flin Flon mine is located on the boundary line between the provinces of Manitoba and Saskatchewan at a point about four hundred miles northwest of Winnipeg. A branch of the Canadian National railway provides the town of Flin Flon with direct transportation facilities. The property was staked in 1914 and, after a considerable amount of exploration; the Hudson Bay Mining & Smelting Company was organized and brought the property into production in November, 1930 (1). Mining is carried on by open pit and underground methods at the rate of about 4,400 tons per day. Production for the year 1934 was: 99,334 ounces of gold; 1,335,319 ounces of silver; 37,486,054~pounds of copper; and 49,427,280 pounds of zinc; in addition to small amounts of cadmium and selenium. The Flin Flon deposit is one of the largest low-grade ore deposits in Canada with complete hydro-electric and metallurgical plants for the production of blister copper and electrolytic zinc. Previous Work The development of the Flin Flon mine into one of the major mining operations in Canada has created a need for a more detailed geological study of the area. Practically all of the information published to date concerns the general surface features. It is the purpose of this paper to deal more specifically with the ore-body and its relationship to the enclosing rock as revealed by studies made possible through recent underground development. The earliest published report on the area is by E. L. Bruce (2), who made a reconnaissance geological investigation of the region for the Geo-logical Survey of Canada in 1914 and established the main. petrological units. Several years later the area immediately around Flm Flon was mapped in greater detail by F. J. Alcock (3). In the summer of 1934, the area of Missi sediments to the north and east of the mine was studied by J. W. Ambrose. His report has not yet appeared in print but his findings are of importance.

Jan 1, 1935

By R. Blickensderfer

The laboratory wear testing capabilities of the Bureau of Mines are described, Wear tests are used to support the Bureau?s research efforts toward reducing the wear of equipment used for mining and minerals processing and any wear involving a loss of strategic or critical materials. The emphasis is on abrasive wear because it accounts for most of the wear losses that occur in mining and minerals processing equipment, Spalling wear, caused by repetitive impact in grinding equipment, also is included, Ten abrasive wear tests, including high- stress and low-stress and two-body and three-body conditions, are described: dry-sand, rubber-wheel abrasive wear; Taber Abraser; abrasion resistance of refractory materials; dry-particle erosive wear; elevated-temperature, dry-particle erosive wear; low-angle slurry pot; jaw crusher gouging wear; ball mill wear; pin-on-drum abrasive wear; and high-speed impact gouging. Two repetitive impact tests are described: ball-on-block impact-spalling and ball-on-ball impact-spalling. Test equipment, procedures, and specimens are described, and typical test results are presented and discussed.

Jan 1, 1985

By D. L. Koch, J. W. Tester, L. K. Sinclair

"In this study, hydraulic conductivity (K) geostatistics were used to predict residence time distribution of well-to-well flow. Flow profiles, fracture density measurements, and pumping tests were available from the highly fractured Florence Copper in situ leaching site. The flow profiles were used to establish the statistical distribution and spatial autocorrelation of K. Two tests were used for validation. The first test confirmed that fracture density and K are autocorrelated over similar length scales. In the second test, Monte Carlo flow simulations successfully recreated the results of pumping tests. Flow sim¬ulations were used to stochastically model well-to-well residence time distribution. RÉSUMÉ Dans cette étude, nous utilisons la géostatistique de la conductivité hydraulique (K) pour prévoir la distribution des temps de séjour (DTS) de l’écoulement entre les puits. Des profils de l’écoulement, des mesures de la densité des fractures et des essais de pompage existaient pour le site fortement fracturé de lixiviation in situ de Florence Copper. Les profils de l’écoulement ont permis d’établir la distribution statistique et l’autocorrélation spatiale de K. Deux essais ont servi à la validation ; le premier a confirmé que la densité des fractures et K sont autocorrélés sur des échelles de longueur similaires ; quant au second, des simulations d’écoulements de type Monte Carlo sont parvenues à reproduire les résultats des essais de pompage. Les simulations d’écoulement ont servi à établir un modèle stochastique de la DTS de l’écoulement entre les puits.INTRODUCTION In situ leaching is the circulation of a dilute acid or base solution in the subsurface, via a series of injection and recovery wells, to dissolve a target metal. In situ leach modelling requires forecasting the residence time distribution (RTD) of flow between wells. In fractured formations such as copper porphyry deposits, order-of-magnitude variations in hydraulic conductivity (K) can result in highly channeled flow, resulting in a heavy tailed RTD (Becker & Shapiro, 2003; Kang, Le Borgne, Dentz, Bour, & Juanes, 2015). Channeling through preferential pathways has impacted copper recovery at several past in situ leaching field tests (Cathles, Glenn, Lenzi, Nigrini, Deans, & Huff, 1978; Ahlness & Pojar, 1983; Schmidt, Earley, & Friedel, 1994; Sinclair & Thompson, 2015). The aim of this work is to combine multiple types of hydrogeological measurements to stochastically forecast the well-to-well RTD in fractured rock for the purposes of copper in situ leach modelling."

Jan 1, 2018

By J. Szarkowski

"INTRODUCTION The Butte district of Montana is well-known as one of the biggest historic producers of copper in the world. It is also a classic example of a porphyry Cu-Mo system that has been overprinted by zoned, polymetallic (Cu-Zn-Pb-Ag) lode mineralization. After copper, silver was the next most important metal mined from Butte, with over 700 million ounces of total Ag production between 1880 and the present day. Although many papers have been written on the mineralogy of the early porphyry Cu-Mo mineralization and the high-grade Cu-rich lodes in the center of the district, relatively little information exists on the mineralogy of silver in Butte. The purpose of this paper is to summarize past and present silver production trends for the district, and to combine previously published work with new research to examine the mineralogy of silver in the Butte mining district. BUTTE HISTORIC SILVER PRODUCTION According to a recent USGS compilation1, Butte is one of the most Ag-rich porphyry deposits in the world, both in terms of average Ag grade (8.6 g/ton) and total production + reserves (Fig. 1). It is also the 2nd biggest Ag-producing mining district in the U.S. (after the Couer d’Alene district, Idaho). Annual silver and copper production data for the Butte district, compiled from various sources2,3,4, are summarized in Figure 2. Peak production of Ag and Cu was in 1917. While Ag production gradually declined in the ensuing decades, Cu production remained strong until the years leading up to the closure of the Berkeley Pit in 1982. In 1984, mining of the nearby Continental Pit resumed under a different operator, and continues to the present day. The Continental mine produced an average of 35,000 metric tons Cu and 575,000 oz Ag per year between 1984 and 20044. These figures do not take into account a period of mine closure in 2001-2003 due to an unexpected hike in utility prices. The long-term decline in Ag/Cu ratio of ore mined in Butte (Figure 3) is due to several factors, including: 1) changes in metal prices; 2) a downwards decrease in Ag/Cu ratio of most of the lodes with depth below surface; and 3) a shift in mining methods from selective underground mining of high-grade veins to open-pit mining of the bulk rock."

Jan 1, 2016

By Matthew D. Meyer

SMART, an association of surface mining companies formed in 1995 to develop a coordinated approach to technology development for the mining industry, has recognized the need for the establishment of a worldwide database that continuously collects mining equipment data and provides metrics related to productivity and cost. Under the auspices of SMART, Syncrude Canada, Suncor Energy and Albian Sands Energy (three oil sands mining operations located in northern Alberta) have established a pilot project for mine benchmarking. This presentation will include a review of the pilot progress including: ???Data gathering techniques: means of collection and storage, proposed practice for data control and normalization, access to data/reports and format for data. ???Reports/analyses for individuals, across groups, within the total industry pool and publicly. ???Security and confidentiality of information belonging to identified parties. ???Sharing of best practices among members. SMART has identified two key deliverables to ensure success of the project. First, data supplied from surface mines must be validated and normalized to common definitions and then analyzed to provide participating companies with regular reports that allow them to understand their position and resultant opportunities to achieve world-class performance. This model maintains granularity of the data for each operation that can then be recombined into standard comparisons or specific indices as required. The general categories of: operating delays, maintenance downtime, standby, and scheduled downtime, have been used to frame comparisons. Second, participating companies are looking to go behind the indices to identify and share best practices that distinguish particular operations. The spirit of cooperation between the companies involved in the pilot project is meant to be a model for future expansion of the benchmarking project.

Apr 1, 2005

By Paul F. Saxton

Introduction As the world economies continue to face an increased demand for natural resources to support growth in the established and developing world, the western mining industry has expanded its operations and funding of mineral developments into new and relatively unexplored regions of the world. Mining companies worldwide, in order to grow in a global economy, are now actively exploring and developing mineral resources in the emerging markets of South and Central America and most recently have expanded activities throughout Asia. South East Asia Resources (S.E.A. Resources) has recognized the vast resource potential offered by countries such as China, India and Indonesia, Asia&apos;s main driving forces of economic growth and has made a commitment to be actively involved in the area. These countries rich in mineral resources, represent some of the highly prospective and underexplored regions on earth. Their vast potential has been underestimated because of political reasons and overlooked as Central and South America still continue to be the focus of exploration for many mining companies. Most of these Asian countries have faced a prolonged period of political unrest and it has not been until recently that they have begun to enjoy a relatively stable political climate which has encouraged foreign investment, growth and economic development. These countries are in need of capital to develop their infrastructure and market economies. Their wealth in resources is one of the best methods to achieve their goals. Gold is usually one of the first targets to be extracted from developing economies. Equivalent-sized gold projects tend to cost less to develop and require less supporting infrastructure than base metals. These projects are easier to finance and, most important of all, tend to give a quicker return on investment than that offered by base metals. They also provide the economy with precious foreign exchange, international investment and the technology required to build the country. Following is a graph representing the global re-allocation of the total capital investment on the twenty largest gold projects now under construction with the total for those under construction in 1990.

Jan 1, 1996

By Ricardo Oliveira Gallart de Menezes, Claudio Gerheim Porto, Reiner Neumann

This study presents the results of the mineralogical characterization of Ti-Zr ore from the Jiboia deposit, located in the municipality of Brejo Grande, Sergipe State, Brazil. The goal is to identify the main Ti, Zr, and REE carrier phases in the different particle size fractions in order to subsidize the development of a cost-effective processing route for the production of heavy minerals concentrate. The mineral resources are estimated at 31.5Mt @ 3.5% of total heavy minerals (THM) for the Jiboia Ti-Zr deposit, of which 5 Mt @ 3.39% THM were classified as measured and indicated. The mineralogy of the heavy mineral concentrate recalculated to 100% is represented by 22% pseudorutile, 20% ilmenite, 15% zircon, 5% rutile, 2% monazite, and 36% gangue. The ore minerals are preferably concentrated in the 150 × 53-μm granulometric fractions, which represents 80% of the THM and only 27% of the ROM (Run-of-Mine) ore. Therefore, by cutting the ore to 150 μm, it is possible to discard 73% of the ROM mass and recover 80% of the THM, including 100% of the zircon and monazite which are the most valuable minerals present in the heavy mineral concentrate. The global recovery of THM starts to decline rapidly in the fractions finer than 106 μm and the mass disposal (tailing) does not follow in the same proportion. Higher zircon contents in the concentrates of the fractions finer than 150 μm imply a significantly lower recovery of heavy minerals like ilmenite, pseudorutile, and rutile that make the fractions coarser than 150 μm.

Jan 9, 2024

The key to the successful debt funding of a new mining project, whether in economically established or developing nations, is the submission of a comprehensive feasibility study. The feasibility study forms the basis from which the resource banker can construct financial models which govern the amount of available funds, the conditions which control the supply of such funds and the time period over which the loan may be repaid. The bank will wish to ensure that the feasibility study is the best representation and confirmation of reality possible because this model is the basis of the loan security package. Thus the study will be vigorously interrogated by independent experts in all its elements including the ore reserve, mineability, metallurgy, operating and capital cost profile, environmental factors and management. A well constructed feasibility study, undertaken by well recognised and respected independent consultants can save the client company a great deal of real and opportunity costs especially in relation to project timing. Once constructed and operating, the mining project may face one or more completion tests in relation to the loans provided. The genetics of such tests often relate to either the ability of the operating company to become solely responsible for the repayment of the loan or to be rewarded by lower interest rates or some other mechanism. Strong professionalism, accessible records, good checking procedures and high quality, competent site management will greatly assist the client company passing these tests. A record of well established technical competence with its bankers may well assist a company in the establishment of a mezzanine loan for the early development of its next project, thus allowing an earlier return of dividends to shareholders.

Jan 1, 1995