Search Documents

By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

By Zhiqian Zhang, Chao Wu, Chao Li, Hongxu Li, Yu Chen, Xiangxin Hao

"In this paper, the life cycle assessment models for automobile lightweight materials including high-strength steel, aluminum alloy and magnesium alloy are developed by Gabi software. The evaluation models and evaluation indicators such as acidification effects, rich eutrophication effect, ozone layer depletion effects, global warming, resource consumption and formation of ozone potential were taken into account. It is shown that the effects of acidification and ozone formation are mainly derived from the run phase of high-strength steel and they have strong environmental impact load. While considering the entire life cycle with materials production phase and resource consumption, the aluminum and magnesium alloy appe art o have large r environmental load than high-strength steel. Base d on the evaluation, some optimization tips are proposed.IntroductionAs the increasing of car ownership, automobile has its two sides. One which is the convenient, efficient and fast traffic vehicle; the other is aggravating energy consumption, emissions and environmental pollution. The car industry faces heavy pressure with energy saving, safety and environmental protection. Nowadays, the main study ways for automotive energy-saving and environmental protection are power system improvement, alternative energy sources and technologies. For limitation of technique, development cycle and market share, the development of car is little progress at this stage and the application has been restricted. And another important way is the lightweight of vehicle. Usually there are three ways to get the lightweight automobile body structure, automobile body structure optimized design, using advanced body manufacturing technology, development and application of lightweight high strength body material.The life cycle assessment (LCA)[1lis commonly used to evaluate environmental factors and potential environmental impacts of products and services. As an environmental management tool of product-oriented, it becomes increasingly popular in industry. In this study, the concept of LCA and GaBi software was used to develop models for the three automotive lightweight materials, evaluate the environmental impact and make horizontal and vertical contrast by choosing variety of evaluation systems and indexes."

Jan 1, 2013

By S. Klingmann

ABSTRACT In this paper, we used data collected from the Gibraltar mine to analyze the effect of the TyreSense tire monitoring system on tire performance by reducing tire wear and preventing premature tire failure or damage. We analyzed the relationship between tire temperature, tire pressure, and tire failure or damage to help better understand the importance of controlling high tire temperature and pressure. The results enhance and expand the knowledge of the management of tire operational pressure and temperature.

Jan 1, 2014

By J. Vance Batty

Two methods were devised and evaluated for quantitatively measuring the amount of oleic acid on flotation products and in flotation waters. One method involved use of an organic solvent to remove carbon-l4-tagged oleic acid from mineral surfaces and flotation water phases with subsequent radio-metric analysis of the extracts. Studies showed this method to be slow and subject to large variations in accuracy and reproducibility. In the second procedure, tagged oleic acid was measured directly on the surfaces of dried mineral products. Oleic acid in the water phase was determined by adsorbing it on fine mineral, drying, and radiometric counting. Quantitative analysis of oleic acid on flotation products from bench-scale flotation tests with synthetic mixtures of ore minerals and quartz and with natural ores showed this method to be fast, accurate, and reproducible.

Jan 1, 1968

By A. Baldwin

This report describes the engineering feasibility and economic advantages of a unique new mining machine using cutting bits that take a constant-depth linear cut in the coal face. The studies show that this innovative new cutting concept, being developed by the Bureau of Mines, can be designed into the basic continuous mining machine. The resulting miner would be attractive to mine owners because coal could be mined with minimum generation of airborne respirable dust, substantial increases in productivity, and elimination of methane ignition due to cutting.

Jan 1, 1977

By Peter C. Wood

This report describes research directed toward the preparation of chemical oxygen (02) sources which exhibited improved 02 storage and reaction characteristics when compared to potassium superoxide (KO2). The initial focus of the research was the preparation of calcium superoxide (Ca(02)2) by the disproportionation of calcium peroxide diperoxyhydrate. The Ca(02)2) was characterized by chemical, thermal, and x-ray analyses. Several methods for scaling up the Ca(02)2 synthesis process were studied. Next, the reactivity of Ca(02)2 toward humidified carbon dioxide (C02) was evaluated and was compare o that of K02 under flow-test conditions approximating those existing in portable breathing apparatus. The reactivities of mixtures of K02 and Ca(02)2 or lithium peroxide towards humidified CO2 were also studied. Finally, an analysis of two commercial, K02-based, self-contained self-rescuers was conducted to determine the potential weight and volume savings which would be possible if Ca(02)2 or a mixture of K02 and Ca(02)2 were used as a replacement for K02.

Jan 1, 1983

The current economic climate and demand for iron ore has resulted in mine operators being prepared to accept aggressive slope designs and associated failures provided that they can be quantified (ie volume of failure and clean up costs, etc) and incorporated into the mining costs, at a feasibility study level. This has numerous implications for pit slope design/geomechanics. Typically when geotechnical engineers conduct slope stability modelling a single value, usually the average or mean value for model input parameters (ie structural orientations, material properties and hydrological conditions) are chosen. The implications resulting from using a single value for model input parameters will vary depending on how the modeller has chosen the value, ie should the modeller choose a mean value from a log-normal distribution of material strengths an optimistic representation of the stability may eventuate, consequently if the designer decides to conservatively downgrade the values by a nominal factor, a pessimistic representation of slope angles may occur, which would result in excessive stripping and mine development costs. A more realistic and representative way to model the inherent variability of geological/geotechnical conditions would be to do so probabilistically. Whereby the modeller can assess the variability of the geological structure as observed/recorded during the core logging process and a similar approach for the material strength properties. The final model output would be a distribution of factors of safety in relation to overall slope angles, ie probabilities of failure for individual slope angles could be determined. This output (graph) could be modified by the mining engineer to incorporate mining costs as well as clean up costs for the respective slope angles and associated failure volumes, ie probabilities of failure. The author intends to provide a detailed overview of the processes involved in deriving a geotechnical design, ie; starting from the data collection phase (core logging/face mapping), through to the data interpretation and formulation of slope parameters; determining the variability and uncertainties associated with each of the process; ensuring that it is adequately captured in the model input parameters; and how the mining engineer could utilise this information to derive final feasibility study mining costs.

Jan 1, 2009

By R Long

The founder of social psychology is sometimes identified as Kurt Lewin. In a 1947 article, Kurt Lewin coined the term ‘group dynamics’. He described this notion as the way that groups and individuals act and react to changing circumstances. Lewin theorised that when a group is established it becomes a unified system with unique dynamics that cannot be understood by evaluating members individually. The discipline of social psychology really emerged out of World War II and tackled questions associated with human judgement and decision-making by the Nazis. For a comprehensive look at the development of social psychology look at Abelson, Frey and Gregg (2004).Social psychology is concerned with the way social arrangements affect human judgement and decision-making. What the author has done is apply the knowledge of this new discipline to an understanding of risk, safety and leadership. This paper will explain some of the developments in social psychology, such as the discovery of the bystander effect, Groupthink, bounded rationality, heuristics, risk homeostasis and the Milgram effect.The social psychology of risk tackles the way decisions are made about risk in their social context. Unless organisations understand that decision-making is socially conditioned, they are unlikely to be able to tackle the complexities of culture change or the development of risk maturity.The paper will offer a new understanding of why people do what they do, how risk makes sense and why a ‘dumb down’ approach to safety is dangerous. A model will also be presented that shows the pathway to risk maturity.CITATION:Long, R, 2016. The social psychology of risk, safety and leadership maturity, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 31–42 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By G. E. Norman, A. L. Mckague

"The new smelting process commenced operation in 1978. The pelletizing and sinter plants were replaced with slurry-fed roasters and the blast furnaces with electric furnaces. The existing converter aisle and matte handling facilities remained unchanged.Process DescriptionNickel-copper concentrate is partially roasted in two slurry-fed fluid bed roasters. After gas cleaning, the sulphur dioxide gas is transferred to the acid plant. The roaster product is conveyed to two electric furnaces for smelting to produce a waste slag and furnace matte. The slag goes to the disposal area and furnace matte containing the metal values is processed in the converters for further removal of iron and sulphur.The final matte containing about 75 per cent metal values is shipped to the refinery in Norway.The commercial smelter was designed for 2135 tonnes per day of concentrate, with an availability of 85% . Roasters and electric furnaces were sized at 117 per cent of design, or 1250 tonnes per day on each of two lines. Concentrate storage capacity in the plant is sufficient for two to three days' plant operation.The new smelting process will be discussed under the following headings:Concentrate Slurry HandlingFeed PreparationRoaster OperationRoaster Gas CleaningCalcine TransferElectric Furnace Operation and Process Control Converting and Matte HandlingUnder these headings, process control , equipment changes, and plant performance after three years' operation is reviewed. A brief discussion of accident prevention , and working environment is also included ."

Jan 1, 1984

By T. C. Bibb

Longwalls using shearers in seam heights of less than 1.2 m (48 inches) are relatively rare in the U.S. Westmoreland Coal Company is currently operating a shearer-equipped longwall at a cutting height of 1.17 m (46 inches) in its Bullitt Mine. This face has averaged 2795 metric tons/day of operation since its startup on April 3, 1984. Longwall productivity in thin seams is substantially impacted by equipment reliability and availability of useable working room for travel and access. This paper addresses the design criteria used in selecting this face equipment, with the goal of maximizing these two parameters. Equipment discussed includes shearers. face conveyor, shields, stageloader, and emulsion system.

Jan 1, 1985

By Eugene H. Skinner

The U.S. Bureau of Mines conducted experiments on the use of lightweight concrete in the density range of 100 Ib/ft3 for liners in underground mines. Three test sections were completed: a monolithic, portal-type structure with integral walls and arch constructed aboveground; an underground test section constructed in a mine drift using plywood forms; and a second section constructed in a drift using an air-supported formwork. The lightweight concrete in the two underground test sections was placed using piston pumps and a slickline. Fiber reinforcement was added to the concrete in the mine sections without any apparent problems with either pumping or placement of the concrete. In another experiment, the Bureau and Hecla Mining Co., Mullan, rD, used lightweight concrete in the density range of 25 Iblfe to replace timber blocking in a raise preparation structure. Other experiments are described in which low-density, lightweight concrete blocks were produced for mine ventilation doors, stoppings, and barricades. Other mine uses reviewed include pillars and collapsing beams. An advantage of low-density concrete is that it will display up to 50% deformation at a constant yield stress. These hlllovative concepts in deformable concrete lining systems will aid mine operators by decreasing capital and maintenance costs, increasing the available space in underground haulageways, and providing productivity gains and improved resource recovery in the soft, caving, squeezing, or bursting grollnu conditions often found in deep mines.

Jan 1, 1989

By R Dunne, W McCallum

Continuous improvement might be defined as seeking incremental improvement over time through improved equipment, processes, technology and the efforts of people. Most people working in ore processing facilities embrace the general principles of continuous improvement. However, given the industry-wide issues with skilled personnel and the constantly changing environment in ore processing facilities, it is often difficult to identify improvements in a facility over a given time period. The driver for these outcomes is the use of basic principles and technology to achieve best practice targets. The process involves four stages: develop standards of practice to define best practice in specific areas; write procedures to guide the organisation towards these best practices; implement the procedures and develop a review process to provide a method of measuring performance against best practice.By reviewing performance against best practice on a regular basis, the organisation measures progress towards the best practice targets and the incremental improvement between these regular reviews is a measure of continuous improvement.This paper provides the background for developing standards of practice for metal accounting, metallurgy and metallurgical management. The paper also describes how standards of practice can be used to develop continuous improvement and the skills set of the departmentÆs leadership team.CITATION:McCallum, W and Dunne, R, 2012. Metallurgical management tools for continuous improvement, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 225-230 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

By Gleason

"From June 16 to 19, more than 1,400 tunneling and underground construction professionals gathered in Chicago, IL for the bienial Rapid Excavation and Tunneling Conference (RETC). There, they were greeted by a full technical program and an exciting exhibit hall that provided a comprehensive look at the world’s bustling tunneling and underground construction industry.The successful conference was a reflection of the industry itself, which is to say, busy. As much of the world has begun to focus on creating a cleaner and greener environment, the global tunneling industry has seen an uptick in infrastructure projects move from design-build to construction phase. With a global shift away from the use of fossil fuels, major cities around the world are looking to increase public transportation options, which leads to the need for more transportation tunnels. And as urban populations continue to grow, the need for clean water calls for more tunnels, and as urban footprints continue to expand, the need to increase and update combined sewage overflow tunnel grows with them.During two and a half days, more than 20 sessions covering all of these topics were presented at the Hyatt Regency in Chicago, many to packed rooms in which every seat was taken and people were standing along the side and back walls.RETC is a biennial conference and one of the largest in the North America for the tunneling and underground construction industries. As such, it hosts a robust exhibit floor. This year 172 vendors occupied 205 booth spaces. The exhibit included everything from tunnel boring machine manufacturers, like Robbins and Herrenknecht, to the companies that supply all kinds of parts and services to the industry."

Sep 1, 2019

By Robert E. Wood

The compressibility factors, Z, of helium, nitrogen, and helium-nitrogen mixtures in the three-dimensional space of temperature, pressure, and gas composition have been related to the Leiden form of the virial equation of state. The dependency of virial coefficients through the fifth on temperature and gas composition has been established for the temperature range 133.15° to 748.15° K. Compressibility factors, Z, have been computed from the equation of state and tabulated as functions of gas composition, pressure, and temperature. Tabular values of Z are presented for 30.00 through 100.00 percent helium for temperatures from 240° through 700° R for pressures from 14.696 through 3,050 psia and for temperatures from 720° through 1,300° R for pressures from 14.696 through 1,500 psia. Tabular values of Z are presented at increments of 5.00 percent helium and 20° R, and, for pressures greater than 50 psia, at increments of 50 psi.

Jan 1, 1967

By FRANKM. SEIBERT, G. G. Oberfell, GEORGEA. BURRELL

The Bureau of Mines is conducting a series of investigations with the common aim of minimizing the losses that occur in the mining and treatment of mineral substances. The results of the investi- gations are being published in reports of the bureau. This report treats of a method of preventing some of the waste of the natural gas incidental to oil mining. This method, the condensation of gasoline from natural gas, offers to the oil operator and others a profitable means of utilizing some of the oil-well gas now being wasted. The most desired constituent of crude oil is obtained, the production of oil is not hindered, and the gas, after the extraction of gasoline, can be returned to the leased area to drive pumps or into pipe lines for uses to which natural gas is ordinarily put, usually with its fuel value lessened only in slight degree. Publications already issued briefly discuss the subject. In this report the work is treated in greater detail, and the results of many additional tests are shown.

Jan 1, 1915

By Roy H. Poston

This paper sets forth the mode of ore occurrence, characteristics of ore and country rocks, methods of exploration, development, and. ore extraction, and the costs of underground operation at No. 8 mine of the St. Louis Smelting and Refining Works of the National Lead Co. located near the southern extremity of the Southeast Missouri lead district. The author acknowledges the assistance of E. T. Campbell, geologist, in the preparation of the paragraphs on the geology of the ores. HISTORY The first record of mining in St. Francois County, Mo., concerns more or less shallow semisurface "diggings" which were worked about the year 174-2. In 1864, however, the discovery of the disseminated deposits, the present source of lead, was made on property near the town of Bone Terre. Winslow has estimated the lead-ore production in this county prior to 1869 to be 59,526 tons.3

Jan 1, 1929

By Osvaldo A. Bascur

Intelligent systems (IS) technologies have received much attention in a wide range of process engineering applications including process operations. With the revolutionary progress in information and computer technologies applying the latest technologies in metallurgical complexes has become a serious challenge to both management and technical teams. Objects and components are changing the way everyone relates to their computer and networks. Goals of real time performance monitoring includes maximizing the profitability by maximizing production, improving efficiency, attending product quality, costs, maintenance, environmental and safety regulations. Designers must consider the greatly expanded desktop computing, Microsoft object technology, Internet and how to build these systems. This paper discusses some opportunities and challenges using objects, components in designing applications and integrating intelligent systems tools. Two examples using performance equations and IS technologies applied to mineral processing are presented.

Jan 1, 1997

By D. J. Dollhopf

A week-long selective overburden handling dragline op ration was conducted at a strip mine near Colstrip, Montana. The objective of the demonstration was to hvdrologically isolate a saline overburden zone during placement in the spoil piles. The saline zone had concentrations considered inimical to successful reclamation and was potentially dangerous to future water quality in the spoils aquifer. The zone was identified after review of chemical data for overburden samples collected from the intense 60 m grid drilling pattern. The saline zone in the overburden was: 1) handled in a normal manner; 2) segregated and buried; and 3) segregated, buried, and covered with a relatively impermeable 1.0 m thick clay cap. The method used to formulate this demonstration, the demonstration itself, and the monitoring and evaluation techniques are described in this report. Observation wells were installed to monitor ground water in the overburden, Rosebud coal, and McKay coal. Data from these wells were, used to estimate post reclamation water levels and to evaluate recharge and water movement characteristics in the vicinity of the demonstrations. The inimical zone was successfully handled in a selective manner with a minimum of delays. Economic analysis indicated cost of these selective burial operations to be about 1.1 to 1.5 times the cost of the normal operation at this particular mine site. Long term monitoring will be required to evaluate the effectiveness of these handling techniques in hydrologically isolating undesirable overburden materials.

Jan 1, 1977

By W. J. Birch, A. Wetherelt

The scaled-distance model for blast vibration analysis is the standard method employed throughout the surface mining and quarrying industries to model Peak Particle Velocity (PPV) data. Although empirical, the method is widely accepted and through the simplicity of its application and ease of graphical verification is set to remain a popular option. The validity of the technique relies principally on the fundamental parametric assumption that blasting data is normally distributed. Throughout the evolution of scaled-distance modelling, this is an issue that has most often been presumed rather than proven (most likely due to the tediousness of the calculations involved). In the few cases when normality has been given some degree of consideration, the result has been the product of a simple visual inspection of frequency distributions: clearly unsatisfactory. However recently the soundness of this assumption has been brought into question, with obvious connotations for blast modelling in general. This paper considers this fundamental issue and seeks to investigate the normality hypothesis within the blasting context through an in-depth statistical analysis of what possibly can be described as an ‘ideal’ blasting dataset. This being a rare case study concerning an opencast coal site in England, where for the entire life of the site every single blast was monitored and recorded through the use of permanent monitoring stations. This has provided a unique ‘total population’ dataset of considerable size from which the assumptions of normality are put to the test.

Jan 1, 2005

By H. R. Spedden

As part of its broad program of educational assistance-including grants, fellowships, and scholarships -Kennecott Copper Corp. offers summer employment opportunities for college students at each of its operations. Originally, summer job programs were intended primarily to help students defray their educational expenses. But as the nation's economy expanded with increased production and a growing demand for well-trained engineers, summer employment became an important means to help qualify future professionals and fill industry's need for them. Both the employer and the student thus derive benefits from such training.

Jan 6, 1967