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By C. Richard Tinsley

INTRODUCTION Project financing has been defined by various authors in this book. It is founded on reliance upon the project's own future cash flows and secondarily on the collateral value of the asset base developed. It is chiefly provided by the banking community who, after an assessment of the risks involved (See Chapter 9) analyse the company's presentation (See Chapter 10) in order to structure a financing package often at a leverage of up to 80% debt. This paper describes the various support and structuring techniques used to delimit and abate the risk components perceived from the banks' experience on project development especially for the period before cash flow is generated (pre completion). ADVANTAGES The advantages of project financing extend beyond the offloading of risks to banks. Among the advantages are the following: 1. Longer loan maturity than conventional, unsecured financing; 2. Loan disbursement and repayment tailored to specific mine; 3. Ability of a joint venture without a "track record" to raise financing; 4. Obtain financing where further direct borrowing (corporate credit) limited by existing indentures; 5. Possibility of arranging finance off-balance sheets; 6. Leverage return on equity; 7. Obtain tax savings with certain project financing structures; and 8. Obtain flexible loan repayment conditions. It can also be said that from the point of view of the company, project financing has certain disadvantages which can be summarised as follows: 1. Perceived higher cost (risk premium) compared with straight corporate credit; 2. More documentation; and 3. Need to negotiate risk-sharing aspects. The main attraction of project financing is the ability to pass certain risks on to the lenders within a flexibly funded transaction. (For a more detailed description of the specific risks see the author's paper at the beginning of Chapter 9. The same risk system is followed here.) The typical project financing has corporate support prior to completion and will usually carefully control the resultant cashflow after completion to ensure the bank does not unnecessarily assume further risks of an equity nature. WITHIN THE COMPANY'S CONTROL Operating Risk This is broken into three interrelated segments for ease of description. Technical Component: This must be specifically addressed if new technology or unproven adaptations are to be used. The banks will have scrutinized the sampling and bulk testing work, perhaps grilling the geological, mineral processing, metallurgical, and mining engineering staff or consultants directly. A number of supports are available such as: TECHNOLOGY GUARANTEE: Either the company itself or the process developer will guarantee that the technology will work for a period of, say, six months to two years after startup. If not, then financial penalties will apply although these are rarely sufficient to repay the loan. Many process developers are weak financially and may have little substance to back such a guarantee.

Jan 1, 1985

By William G. Pariseau

Few departments of mining, metallurgical or petroleum engineering in the United States have critical mass. Cost per student credit hour (SCH) in departments across the country are usually the highest among engineering departments, which are the highest on campus. Almost all departments are operating at fixed costs and enrollments could easily double without incurring much additional cost. However, the cost per SCH would remain unacceptably high and the probability of doubling enrollment is nil. Declining enrollment is a more likely future. The pressure to reduce SCH from university administration is unrelenting. And it has the potential for doing serious damage to program quality when standards and requirements are lowered in attempts to maintain enrollments and increase retention.

Jan 1, 2002

By Xiang He, Xinzhong Wang, Ning Li, Bao Cao, Hongyang Bai, Zhigang Du

Revealing the periodic fracture pattern of the main roof and the key influencing factors of the support resistance is crucial for strata control and support selection of the shallow buried working face with large mining height. Based on the cantilever beam theory, an improved step rock beam model, and the measured strata pressure data of the 12,401 working face in Shangwan Mine, the mine pressure behavior law of the shallow buried with a large mining height working face was analyzed. The results show that both ratio of maximum principal stress to load (σ1/q) and ratio of maximum shear stress to load (τmax/q) inside the main roof increase with increasing periodic advancing distance, while the ratio of maximum shear stress to maximum principal stress (K) is the opposite, indicating that the increase rate of σ1/q is higher than that of τmax/q. K is less than 1 when the periodic advancing distance exceeds 8 m, indicating that the periodic fracture of the main roof will be dominated by tensile failure. Support resistance increases with increasing immediate roof thickness, main roof thickness, periodic fracture step distance of the main roof, and mining height, and decreases nonlinearly with increasing friction coefficient of periodic fracture rock block hinge surface. The main roof thickness, the periodic fracture distance of main roof, and the friction coefficient of the hinge surface of the periodic fracture rock block are the key factors influencing the support resistance. The advance breaking of the main roof and increasing the friction coefficient of the hinged surface of the main roof can reduce the support resistance of the working face. The support resistance of the 12,401 working face in Shangwan Mine presents an arch distribution characteristic. The average periodic weighting step interval, average support resistance, and dynamic load coefficient are 15.6 m, 17,552 kN, and 1.3, respectively. Finally, the rationality and validity of the model are verified by comparing the measured and theoretical values of the support resistance in the 12,401 working face of Shangwan Mine and other shallow coal seams with large mining height.

Apr 22, 2024

By M J. Sale

The Epithermal and Mesothermal Gold Prospectivity Modelling Projects recently completed by Crown Minerals provided explorers in New Zealand with a new compilation of historical exploration data combined with new geological information from the GNS QMap 1:250 000 scale mapping project. These data were used to produce predictive mineral potential maps for gold mineralisation in New Zealand. The aim of these projects, which was to stimulate mineral exploration and investment in exploration, has been successful with new companies acquiring new tenements and committing significant exploration expenditure to exploring in New Zealand in the coming years. The projects were undertaken at a national scale and consequently not all exploration data were compiled into the prospectivity models. HPD New Zealand Ltd recognised the value of the prospectivity modeling work and committed exploration funds to continue the modelling process started by the projects. They recognised the need to compile the remaining data and run the models again to allow detailed exploration targeting.

Jan 1, 2004

By Rajendra Singh

Underground depillaring of contiguous coal seams/sections is a difficult problem, which becomes even more complex if the interburden/parting between them is thin. Conventionally, the depillaring with caving of contiguous seams/sections is done in descending order. However, if the parting is thin, the influence of the top sections/seams working over the standing pillars of bottom the sections/seams becomes extremely important for the safety and optimal exploitation of coal. Field investigations were carried out at Nowrozabad East mine where superimposed pillars of the Johilla top section were depillared above the developed pillars of the Johilla bottom section with a 3 m thick parting between the two sections. The competency of the 3 m thick parting (which consists of alternate layers of shale, sandstone and shaly sandstone) was improved by reinforcement (underpinning). The strata control investigations did not show any considerable instability problem of the 3 m thick reinforced parting and pillars of the bottom section due to top section depillaring. On the basis of this field investigation and a laboratory study on simulated models, simultaneous extraction of both the sections, along with reinforcement of the parting, was suggested for the geomining conditions of the Johilla top and bottom sections. Adopting the suggested simultaneous depillaring process, two sub panels of Johilla top and bottom sections have successfully been extracted without any strata control problem. This paper presents this case study along with the results of the strata monitoring conducted to evaluate performance of the underground structures during the field trial.

Jan 1, 2004

By A. L. Field

Bureau of Mines Technical Paper 189 consists of a record of the scientific data obtained in the iron blast-furnace slag investigation which is reported in Technical Paper 187, "Slag Viscosity Tables for Blast-Furnace Work." It includes a description of the method of preparing the synthetic melts, construction of an improved electric furnace, and refinements in laboratory methods of measurement. Only the general features of the work and the conclusions drawn from the experimental data can be given attention here. Silicates in the Liquid State In the manufacture of refractories, Portland cement, glass, and porcelain, and in pyrometallurgical operations, importance attaches to the behavior of silicate compounds at temperatures beyond the range of common experience. This field of research has not been investigated as carefully as its scientific and industrial importance would seem to warrant. Probably the most important of the unsolved problems in the, chemistry of silicates is the question of their stability in the liquid state. That little progress toward the solution of this problem has been made is not strange if there be borne in mind the difficulties attending experiments made at temperatures at which silicates become fluid, and the comparatively short time since it became possible to measure these temperatures. On the other hand, considerable progress has been made in the study of the compounds in the solid state because of the directness and simplicity of methods of optical examination.

Jan 12, 1917

The applicability of four empirical strength criteria for rock masses, namely, Hoek and Brown, Bieniawski - Yudhbir et al., Rarnamurthy - Arora and Johnston - Sheorey et al. has been tested against the triaxial test data for jointed plaster of Paris of Arora. The following modified Bieniawski criterion shows best agreement with the triaxial test data for jointed plaster of Paris:- where st = axial compressive stress at failure, MPa; s3 = confining pressure, MPa; scm = uniaxial compressive strength of jointed plaster of Paris, MPa; and B = - 3.988 + 9.674 (scm )-0? 185 The modified Bieniawski strength criterion can be used to estimate the strength of a coal pillar, based on a knowledge of stress distribution in it.

Jan 1, 1992

By Rosa Malena Fernandes Lima, Rodrigo Fina Ferreira

Since 2011 mineral cargo shippers shall comply with the Maritime Solid Bulk Cargoes (IMSBC) Code regulatory framework, established by the International Maritime Organization. Some mineral cargos may liquefy during passage, under certain conditions, if the moisture content is beyond a certain level, and the cargo shifting may jeopardize the stability of the vessel. For cargos which are susceptible to this phenomenon the IMSBC Code stablishes that the moisture content shall be below the Transportable Moisture Limit (TML) for safe transportation by sea. Iron ore fines TML can be determined through the Modified Proctor/Fagerberg Test for Iron Ore Fines. Knowledge related to the TML has become essential to shippers, and research works related to this parameter are increasingly frequent. However, the typical daily productivity for having a TML result through this method is one up to two samples per executant person, requiring approximately 50 kg per sample. This study presents a practical example of the application of a prediction model for estimating the TML. The model application reduced substantially the laboratory work and sample quantity requirement for obtaining conclusions related to the TML.

Oct 3, 2019

By A. Kijko, C. W. Funk

Methods for the analysis of seismic hazards in mines are reviewed as illustrations of the techniques that are being used in some South African mines. The classical parameters that describe a hazard are the seismic activity rate, ?, the Gutenberg-Richter value, b, and, occasionally, the maximum regional magnitude, mmax The activity rate is calculated readily owing to the inherent simplicity of its definition. The evaluation method presented for the Gutenberg-Richter b value takes into account the presence of mmax Three statistical procedures are described for the assessment of mmax which the maximum observed magnitude, Xmax a crucial role. Often, the configuration of mine seismic networks is changed, or the networks are improved, which inevitably gives rise to changes in the completeness of the seismic catalogues. The routine analysis of seismic hazards must account for these time dependent changes. A method for the evaluation of hazards is reviewed that accommodates varying levels of quality in the catalogues. Finally, the concept of the volume of ground motion (VGM) is presented. This is a technique that allows for most aspects of seismic hazards in mines. The advantage of the VGM is that a hazard can be described by one physically significant value: the volume of rock (cumulated over a time period) in which the ground motion exceeds some critical particle velocity. Data from the gold mining region in South Africa known as the Far West Rand is used in a demonstration of the discussed methods of hazard analysis.

Jan 1, 1994

By T. Tamagawa

A gaseous chlorination process for hydrometallurgical treatment of a chalcopyrite concentrate was investigated. The overall process is visualized to consist of low temperature chlorination-selective oxidation, followed by aqueous chloride leaching and SX-EW for producing electrolytic copper elemental sulfur and ferric oxide. In this article, the chlorination phase of the processes is described. Initially, the chlorination behavior of chalcopyrite-concentrate micro-pellets was investigated using a small batch-type fluidized bed reactor. The optimum conditions thereby established was used in continuous chlorination tests. The chlorinated products thus prepared were used in the selective oxidation phase of the investigation.

Jan 1, 1999

By John C. Machisak

DATA ON INJURY experience at quarries and related plants of the United States are presented in this publication under the following general sections: A) General injury experience: Tables 1-4: Contain current data on number of injuries, injury-frequency rates, work location, accident agency, degree of injury, and related employment data. (B) Injury experience at different kinds of quarries: Tables 5-6: Current data on number of injuries, injury-frequency rates, work location, accident agency, degree of injury, and related employment data. (C) Injury experience by States: Tables 7-19: Current data on the number of injuries, injury-frequency rates, accident agency, degree of injury, and related employment data. (D) Selected injury data: Tables 20-30: Current data on various selected factors of operating conditions at different kinds of quarries, including employment size-groups, length of shifts, comparative severity of injuries, and injury data and related employment experience at dimension-stone and crushed and broken stone quarries, and underground quarries. (E) Mining methods and historical injury experience: Tables 31-32; Employment data and injury experience in the quarrying industries of the United States, by mining method and work location, 1953-58; and historical injury experience and employment data in the quarrying industry, 1911-58.

Jan 1, 1962

By Wang Xuguang, Zhang Xiaozhi, Li Guozhong, Xiong Daiyu

The emulsion explosive is a new kind of water-based industrial explosives that was developed at the end of 1960s. In the 1970s, BGRIMM invented EL-series emulsion explosive that created a new era of water-based industrial explosives technology and products in China. From single type to varieties, the perfect BGRIMM emulsion explosives technology has been formed, which consists of 9 series, over 30 types explosives and related production equipments and processes such as cap-sensitive rock emulsion explosive, opencast emulsion explosive, coal permitted emulsion explosives, low-temperature-resistant emulsion explosive, high-temperature-resistant emulsion explosive, high power emulsion explosive, bulk emulsion explosive for loading truck and powder emulsion explosive. From the early 1990s, BGRIMM successfully developed opencast emulsion explosives and the computer controlled continuous production line of small-diameter cap-sensitive emulsion explosive which raised emulsion explosive production technology of our country to a new lever. With the successful development of powder emulsion explosive and related computer controlled continuous production line, on-site mixed emulsion explosive and loading truck as well, the category of industrial explosives is getting more complete and reasonable. This paper pres ents the history, achievement and development of BGRIMM emulsion explosive technology, also forecasts the future of linked technology.

Jan 1, 2003

By Donald E. Scheck, Da-Rong Chou

The application of geostatistics to coal reserve analysis is discussed. One problem in particular, the selection of the optimum locations for exploratory drill holes, is considered in detail. A new interactive program to help the geologist determine the best locations is described and applied to a specific property. The steps in the process are described and then illustrated using a mine's actual data. First, a variogram is selected based on graphical displayed information from the known sample data. Kriging estimates are made for the region of interest and the blocks within the region. The location of future exploratory drill holes is selected based on the criterion of minimizing the region estimation variance for a given number of exploratory holes. The least number of exploratory holes required to meet a specified upper limit on the regional variance is also determined. The computer generated recommendations for the exploratory drill holes are compared to a manually prepared drilling plan. The post- drilling analysis of the results is compared to the predicted values.

Jan 1, 1983

By L. V. Clark, Arthur La Motte

"INTRODUCTION The U. S. Bureau of Mines in 1930 and 1931 made a study of the properties and characteristics of liquid-oxygen explosives (L.O.X.) at the request of one of the largest users, in order to determine and eliminate the hazards attending its use.This report deals with the examination of absorbents for L.O.X. to (1) determine their most desirable and most undesirable characteristics, (2) to find ways and means of desensitizing absorbents to mechanical shock, and (3) to determine the effect that such desensitization of absorbents has on the explosive Characteristics of L.O.X.ABSORBENT MATERIALS The absorbent used in driving the Simplon Tunnel, the earliest project in which L.O.X. was used, was composed of crude petroleum, soot, and kieselguhr. During the World War, powdered cork, soot, sawdust, powdered straw, or other similar powdered materials were mentioned in the German military instructions for use of ""liquid air"" explosives. At that time the common types of absorbent, materials were compounded ones containing the above ingredients as well as kieselguhr, paraffin, gas oils, charcoal, bituminous coal, etc.Kuryla and Clevenger4 investigated absorbents of the above type and made the following statement concerning them:"

Apr 1, 1932

By Timothy W. Ellis

Gold-based materials have been a mainstay of the electronics and semiconductor industry since the physics was just a laboratory curiosity. Gold is the workhorse material in wire bond, flip chip and off wafer interconnections due to its corrosion resistance, ability to form metallurgical bonds by soldering or cold welding, and ease of fabrication. As the electronics and semiconductor industries grew, so did the use, of Gold in spite of the feature size reduction so elegantly demonstrated in Moore?s law. However, several revolutions in the Silicon miracle are threatening Gold?s place as the material of choice. Although cost is always an issue, the limitations are associated with the chemistry of Gold based alloys. Will Gold remain? Emerging requirements of bioelectronics, photonics and power requirements in conventional device represent new opportunities for Gold to shine. Additionally, as the world market demand for electronic, semiconducting, bio-electronic and photonic technology increases, given the right technology, Gold still can provide value proposition.

Oct 1, 2003

By U. F. Beichmann

INTRODUCTION The City of Oslo together with the neighbor municipalities, Baerum and Asker, are presently building a jointly owned sewage treatment plant located on the west side of the inner Oslofjord. The project is scheduled for completion late 1981. Because the location of the treatment plant is at a distance of about 20 miles (30 km) from the city center, a discharge of more than 13 yds 3/sec (10 m3/sec.) of sewage and storm water will have to be transported over considerable distances. The topography of the area and the geological conditions early indicated that the only realistic transport method had to be through tunnels. As planning proceeded, full face tunnel boring emerged more and more as a favorable alternative to conventional drill and blast medhods. Today the scheme comprises nearly 25 miles (40 km) of tunnels being excavated by full face tunnel borers. In addition a number of access tunnels and cross cuts are to be excavated by conventional methods.

Jan 1, 1979

A practical core-based method for estimating in situ stress was tested using 360° measurements of rock core diameter in a laboratory setting. In several mining districts across West Virginia, rock cores were recovered from exploration core holes and oriented using an acoustic televiewer (ATV) summary log. Measurements of diametral variation were performed at 0.1-foot depth intervals using a benchtop device comprised of a pair of diametrically opposed contact digital indicator gauges working in tandem. The diametral profiles were evaluated to determine strain direction and strain magnitude. Stress magnitudes were calculated when values for Young’s modulus, and Poisson’s ratio were available. Stress direction results are compared to other stress determination methods, including downhole overcores, drilling-induced fractures, and borehole breakouts. The testing and analytical methods used are similar to the diametrical core deformation analysis (DCDA) method (Ito, Funato, and Shono, 2012), but with a number of important improvements.

Jan 7, 2020

By Robert L. Bates

United States production of the industrial minerals, ahead of that of the metals since 1946, has shown a steady and rapid growth. By 1963, their value was more than twice that of the metals. Yet papers on the metallic ores continue to dominate the meetings of the Society of Economic Geologists and constitute nearly nine-tenths of the lead papers in Economic Geology. Most of the geological communication that does take place concerning the industrial minerals deals with high-value special-purpose minerals, which are comparable to the metallic ores in geologic complexity. The large-bulk rock products, which are growing fastest in production value, are characterized by relatively simple geology and by thousands of small producing firms, many of which do little or no geological work. The need for geological advice by this very large segment of the industry is bound to increase. In the meantime, a plea is made for more geological communication among those concerned with the industrial minerals of all varieties.

Jan 1, 1966

By Joseph Meyers

Explosives techniques and technology are constantly evolving and improving, yet basic communication and business skills are not being used regularly. Many potential blasting projects never occur due to simplistic, basic factors, such as a lack of communication. Articulate communication is the key component in the blast approval process, which has changed remarkably from how business was conducted fifty years ago. Imperative to the approval process is communication outlining the safety and benefits of the blasting project. Information and transparency with the stakeholders and the Authority Having Jurisdiction (AHJ) will greatly improve the chances of having a blasting project approved. This open communication starts at the inception of the project when the memorandum of understanding (MOU) is obtained, and involves the AHJ through all steps of the approval process. The blasting industry and regulators must work collaboratively to improve safety, security, regulations and licensing. Implementing state of the art blasting techniques, security, safety measures, vibration monitoring and strict licensing allows the AHJ and all stakeholders to remain integrated and informed, contributing to process approval. Regulatory operators should strive to achieve success thru communication, cooperation and compliance which is accomplished thru continued education and transparency. These steps, combined with regular meetings, has proven to be a benefit to both industry and regulators. Relationships are built through trust, teamwork, transparency and communication –including the take holders and AHJ in the approval process from the inception solidifies these relationships and improves teamwork

By Bond W. F, Sharry P. V, Onley P. G

The use of Decision Analysis is becoming more widespread in industry as a whole, and there is considerable scope for its application in the mining industry. Wherever decisions have to be made, whenever risks have to be taken, whenever uncertainty exists or whenever judgements have to be made, then Decision Analysis can be used. In the mining industry we daily make many decisions involving risk, uncertainty and judgement. Expansion and diversity will only increase the need for balanced decision making techniques. This paper seeks to describe the history and principles of Decision Theory, and to illustrate the various modelling approaches using three fictitious yet realistic case studies. Decision Analysis logically integrates the quantifiable and seemingly non-quantifiable aspects of a decision problem into a coherent, explicit and rational solution. It also allows the decision-makers to see the full impact of each variable or uncertainty, and hence focus on the key aspects that influence the solution.

Jan 1, 1996