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DCF Valuations are very important to individuals and companies involved in the mining industry. Such valuations are critical to investment decisions in relation to new and existing projects. In particular they provide fundamental information to shareholders in the event of a capital raising or takeover and to financiers supporting mining companies and projects. Also, DCF Valuations are often used to support asset carrying values in the financial statements of mining companies. This paper presents a Chartered Accountant's (CA's) perspective on the main issues to be considered in preparing, analysing and relying upon DCF methods in mineral valuations and provides some practical examples relating to key issues. The paper makes the important point that DCF methods involve making assumptions about future events and circumstances that inherently contain uncertainty which results in a valuation prepared on a DCF basis providing a range of values that are not perfect or accurate. In order that DCF valuations provide meaningful information the underlying methodology used and assumptions made must be consistent, sound and well supported. Credibility of those involved in preparing mineral valuations is vital and this paper supports the adoption of sound practices by all concerned.

Jan 1, 1994

By B. Abedian, L. M. Racz, S. R. Berry, R. W. Hyers

"The presented work represents an effort to improve understanding and prediction of turbulent flow inside electromagnetically-levitated droplets. We show that the flow field in a test case, a nickel droplet levitated under microgravity conditions, is a low Reynolds number turbulent flow, i.e. in the transitional regime between laminar and turbulent. Past research efforts have used laminar, enhanced viscosity, and k - E turbulence models to describe these flows. In our study, we compare the RNG algorithm to laminar and k - E turbulence model results. We show that accurate description of the turbulent eddy viscosity µr is critical in order to obtain realistic velocity fields, and that µr cannot be uniform in levitated droplets. In the RNG method there are no characteristic length or time scales associated with the flow, thus allowing such anisotropic features to be captured. We perform calculations and analyses for two cases (1) a small, non-deforming, spherical nickel droplet and (2) a deforming, oscillating droplet. In addition to flow field calculations, we compare numerically-obtained surface tension and viscosity values to those obtained experimentally by the oscillating drop technique.IntroductionElectromagnetic levitation (EML) is a containerless processing technique for conductive materials. Its advantages are the avoidance of contamination or chemical reaction at container walls and the ability to perform long-term experiments in a metastable state. Because of its current limitation to small sample sizes, its primary use is in the laboratory. One application of interest is the measurement of thermophysical properties of undercooled liquid metals [1, 2, 3, 4]. In EML, a sample weighing approximately 1 gram is positioned inside an electromagnetic field generated by alternating currents flowing through an axisymmetric water-cooled copper coil. The coil must be designed appropriately so that thesample levitates in a stable manner.Traditionally, mathematical modeling has been performed in tandem with both earth-and spacebound electromagnetic levitation experiments, in order to determine the effect of the magnetic field on material and flow characteristics [5, 6, 7, 8]. These calculations are important because they allow design, planning, and correct interpretation of experiments. In addition, the calculations are of fundamental scientific interest, as they can be applied to other electromagnetic materials processing applications [9]."

Jan 1, 1999

By Sazol Das, Hany Ahmed, Ganesh Bhaskaran, Zhuoru Wu

"Friction stir welding (FSW) process in lap configuration for dissimilar materials has been developed and tested for steel to aluminum joining. A novel cylindrical tool was designed for improved material flow. The joining of steel to high strength 5xxx and 6xxx aluminum was carried out by FSW technique using optimized process parameters. The microstructure, micro-hardness, joint strength and corrosion properties at the weld interface have been investigated. Optical and scanning electron microscopy reveled a well layered structure at the interface and lap shear tests of the welds showed excellent fracture resistance. Neutral salt spray tests for up to 500 hours (ASTM B117) were carried out on the bare steel to aluminum FSW joints, which did not show neither evidence of corrosion at the weld interface, nor any degradation of the weld strength. The FSW lap configuration was applied to prototype commercial vehicle structural component whereby a steel stiffener insert was friction stir welded to high strength 6xxx aluminum alloy. The interface microstructure showed layered root without any steel shattering in aluminum side. A finite element study was carried out to quantify the benefits where it was found that the stiffness increases by 76% under bending loads and 36% in torsion loads.INTRODUCTION Energy preservation and environmental issues, namely carbon footprint and legislation around emission in transportation industries has led to a growing need to use of lightweight materials such as aluminum and magnesium alloys along with various grades of steel in structural application, while still maintaining their strength and crashworthiness. Assembling dissimilar materials within integrated structure is thus a stringent requirement related to optimum performance. In order to achieve an efficient technology of joining dissimilar materials such as aluminum to steel, it remains difficult to select an effective welding process for a given joint configuration. The use of aluminum in transportation industries for structural component is not exclusive in a design and is almost always used along with various steel grades for a mixed materials solution, thus dissimilar aluminum/steel lap joining is of great interest since this is widely used in the assembly of parts (e.g. pillar, frame rails, chassis, body in white (BIW), CAB, etc.)."

Jan 1, 2018

By D. A. Reynolds, J. D. Davis

During early development of the blast furnace, Connellsville coke made entirely from Pittsburgh-bed coal proved to be an excellent fuel. The need for blending coking coals arose as the industry grew and it became necessary to carbonize coals having voking properties inferior to those of Pittsburgh coal Most coals carbonized today in continental Europe and this country are blonded: This practise has improved the quality of coke and permitted the utilization of coals that would yield inferior coke, if carbonized sepa- rately, The depletion of the world's better coking coals, which has been noted by leading coal technologists,2/4/wes accelerated during the recent war and. It is important, therefore, that reserves be evaluated and conserved. In the principal, steel-producing sections of this country, Pocahontas coals have been blended so extensively that the terms "low-volatile coking coal": and. "Pocahontas" have become virtually synonymous. Other low-volatile coals. have been used to manufacture metallurgical coke and will be used more extensively as, the supply of the better known and more accessible Pocahontas coals decreases. Recognizing the need for augmenting the supply of high-rank coking coals, the Bureau of Mines has included both low- and medium-volatile coals in its Survey of the Carbonizing Properties of American Coals, which was started with the cooperation of the American Gas Association in 1929. Twenty coals, 12 of low-volatile and 8 of medium-volatile rank, have been blended with high-volatile A Pittsburgh-bed coal, and five standard low- volatile coals have been blended with various high-volatile coals. Most of the results of carbonization tests of these coals and their blends have been

May 1, 1946

By D. E. Wolfson

As part of its overall program of coal-carbonization research, the Bureau of Mines is studying the coking properties of coals from various fields of this country. Few of the coals included in this survey are used for the manufacture of metallurgical coke, although some well-known coking coals necessarily are tested to provide comparative data, particularly on blending properties. The overall objectives of the study were given in detail in a previous report.3/ The inherent suitability of coal for metallurgical purposes, as distinguished from economic considerations, depends primarily on (1) the available reserves, (2) chemical composition, (3) preparation characteristics, and (4) carbonization behavior. These items are considered in selecting coal for carbonization tests.

Jan 1, 1956

By AIME AIME

ON Sept. 24, 1875, a remarkable deposit of silver ore was discovered by James Ryan and Samuel Hawkes at the east base of Grampian Hill in central Beaver County, Utah.. A shaft was begun and had been sunk about 30 ft. in ore when the claim was sold on Feb. 17, 1876, to A. G. Campbell, Matthew Cullen, Dennis Ryan, and A. Byram for $25,000. To them is due the credit of having developed the mine and started the district on the road to its present state of prosperity. Their development resulted in proving the vein to a depth of over 280 ft. and about 2500 tons of ore was extracted and turned into bullion. In February, 1879, the mine came into the possession of the Horn Silver Mining Co., and since then over $65,000,000 worth of ore has been taken from the mine. Two smelters were built in 1878, near the mine; 400 men were employed underground, and 1000 on the surface, burning charcoal, hauling wood from the surrounding hills, and freighting and hauling hay for the hundreds of horses used in the work. Ore was hauled thirty miles to the

Jan 1, 1936

By Pablo Altoé Amorim, Bruno Sellitti Borges, Otávio Lube dos Santos, Arthur Pizetta David, Matheus Diogo Penido da Silva

Automation is in everywhere nowadays, including within companies and industries, and is therefore fundamental and essential for production, quality and process control of them. There are many ways to automate a production line or a machine can be through relay logic, Programmable Logic Controllers (PLCs), and even more modern microcontrollers with native Internet of Things (IoT) support can be used. What are the advantages and disadvantages of each approach? A PCB was created using more modern microcontrollers programmed in C, C ++ and Whiting language to simulate a replacement of a PLC in an actual machine. Having a very positive result, being able to handle the machine manually via Wi fi besides being able to also perform a real-time monitoring of the machine's motors through the mobile phone, thus entering the IoT and fitting into the Industry 4.0.

Oct 1, 2019

By Deborah A. McCombe

"There are a number of important dates that must be disclosed when a Qualified Person (QP) is preparing a technical report for securities purposes. The dates are discussed in NI43-101 and the Form of the Technical Report, NI43-101F1. •,Effective date of the technical report •,Possible revision date of the report •,Effective date of mineral resources and mineral reserves •,Date of the personal inspection (site visit) •,Signature date of the date report (execution date) •,Date of the certificate of the QP •,Date of the consent of the QP The effective date of the report is basically the cut-off date for the information that is included in the technical report. The effective date should be close to the signature date. If there is too long a period between these dates, the QP runs the risk of new material information becoming available and then the technical report would no longer be current. The effective date is disclosed on the title page of the report and on the signature page. If a technical report needs to be revised to correct problems or disclosure deficiencies identified by the regulators, the QP will normally need to include a revision date on the title page of the report to distinguish the revised version from the original version. In these circumstances, the regulators will request that the original date of the report remain on the title page and the revised date will be below it. When a technical report must be revised, the QP must resign and date the signature page of the report and provide a new certificate and consent."

Jan 1, 2003

By Viggo C. Bertelsen, David G. Hammond

LOCATION AND EXTENT OF BART TUNNELS The San Francisco Bay Area Rapid Transit District (BART) during the past six years has become the Owner of 23.5 miles of single-bore tunnels. The tunneling experience gained while working closely with our Engineer and Contractors in the design and construction of these major transit facilities provides a basis for our "Owners" viewpoint. The 23.5 miles of tunnels are divided into two categories. Fifteen and one-half (15-1/2) miles of tunnels were constructed in soft ground underlaying the downtown areas of San Francisco, Oakland and Berkeley. Eight (8) miles of tunnels were built in "hard ground" in the hills separating Oakland and Berkeley from Contra Costa County and in the San Francisco hills on the Mission Line. Location of tunnels within the BART system are shown on Figure 1. The tunnels comprise 15.7% of BART's 75-mile dual track system. Their 176 million dollar costs (excluding rail, electrification or ventilation features) are 12.4% of the system's total estimated cost of $1.4 billion. The tunnels constructed in soft ground were shield and boring machine driven with ground support provided by steel liner rings. The exterior diameter is 17 foot, 6 inches in the majority of tunnels; however, on two tunnels with a 500 foot radius of curvature, the diameter was 18 feet. BART awarded 14 contracts for soft ground tunneling. The work was accomplished under free air or compressed air depending upon the ground water and soil conditions, safety requirements, and considerations for protecting adjoining property from damage either from the de-watering operations or settlements due to excavation. The tunnel bores, except on curves, were normally parallel being spaced at 32 foot centers on the Mission

Jan 1, 1997

By Carl C. Nesbitt

A process has been developed to recover and recycle metals from wastes of brass foundries which contain copper, zinc and lead in various quantities. Tests were conducted to evaluate several leachants, including sulfuric acid, ammonia, hydrochloric acid, cyanide and acetic acid, and to determine the optimum leaching conditions, such as air flow rate, initial copper ion concentration, temperature, and agitation strength. Sulfuric acid containing copper sulfate with dissolved oxygen is the most successful leachant. More than 99% of the copper and zinc originally present in the waste was dissolved, while only 0.5% of the lead entered the solution after 14 hours of leaching. The leaching mechanisms of copper, zinc, and lead are proposed. The copper and zinc can be recovered from the solution by electrolytic processing. The unleached residue may be converted to a lead carbonate which can be converted to litharge at 400-450°C and to massicot at temperature above 500°C by calcination.

Jan 1, 1995

By Vishal Shukla, Ashok Kumar, C. Raghu Kumar, D. P. Chakraborty

"Traditional iron ore beneficiation plants using washing, screening, and jigging processes require large volumes of process water. Generated slime during processing, its disposal and impact on water usage, is an important concern for any mining company. The challenge today, during extracting iron ore, is how to dispose of slime such that it is contained and stable, while maximizing water reuse and minimizing surface footprint. The slime disposal methods are sensitive to the environment. Two major technologies presently being practiced for disposing the slime across the world are pressure filtration and paste thickening. In this perspective an attempt has been made to do comparative study between paste thickening and pressure filtration for selection of suitable slime disposable technology for Noamundi processing plant, Tata Steel. From the studies, it is evident that by adopting pressure filtration technique it was possible to produce filtered slime, whereas filtration, rate reduces significantly with the presence of finer fraction. Further , the greatest advantage of paste thickening is volume reduction of slime. By considering the technology limitation and comparative lab test work result, it is opined that combination of filtration and paste thickening technology is favorable in terms of capital and operating cost and slime >45 µ should be filtered and < 45 µ slime should go for paste thickening. The study and the results are presented in details.INTRODUCTION The beneficiation processes always end up with an enriched portion of desired mineral - “Concentrate” and an enriched portion of undesired minerals - “Tailing”. The proportion and nature of tailings generated in every beneficiation process differ from ore to ore and reflects the characteristics of the feed processed. The traditional method of tailing disposal in many mineral processing industries has been to dispose them as thickener underflow at around 35% solids. Though, it had certain advantages of transportation with ease but contribute to a greater volume occupied in the tailing dam. This sustained practice and failure to utilize the space available in the tailing dam judiciously endangered the mining industry. The tailing management has become the toughest task to the mining industry and most of the mines are running out of space for disposing the fresh tailings as many of these are at the verge of getting filled."

Jan 1, 2018

By E. R. Hoskins

The Gulf Coast States ranging from South Texas to Alabama contain vast resources of lignite ranging in energy content from about 4000 to 7000 Btu/lb (as-received) with sulfur content ranging from about 0.5 to 2 percent. Currently, the strip mining rate is about 35 million tons per year in Texas and essentially zero in the other Gulf Coast states. Estimates of future mining rates are as high as 310 million tons per year by the year 2000 with 240 being in Texas. In this paper, we examine the life cycle of the surface mineable lignice based on the most recent estimates of surface mine recoverable resources with two scenarios. The first indicates that a 310 million tpy rate could be sustained for only 15 years while the second scenario suggests that the 310 million tpy could be sustained for 25 to 30 years. If lignite resources are required beyond those that are surface mineable, the deep basin lignite will be developed. Five strategies for developing deep basin lignite are discussed.

Jan 1, 1983

By E. R. Hendrickson

About 1/3 of the world&apos;s supply of phosphate rock is produced in a relatively small area of the Florida peninsula east of Tampa. Until this past year, a circle with a radius of about 25 miles and centered on Bartow would encompass the major producing areas. During the past year producing areas have opened in North Florida which promise to vie with the Polk-Hillsborough County area in terms of proven reserves. In addition, new phosphate production is planned for counties to the south and west of the present fields. From the existing production areas, however, more than 19 million long tons of phosphate were mined in 1965. As mining engineers most of you probably are familiar with the methods of mining and beneficiating the pebble phosphate rock. You thus recognize that, although some water quality problems may arise from these processes, there is no potential air pollution problem. To make an economically useful product, however, further processing must take place. It is from this additional processing that potentially damaging materials may be discharged to the atmosphere.

Jan 1, 1966

By J. -M. Lopez-Cuesta, C. Petter, B. Otazaghine, M. Batistella, R. Sonnier

"Kaolinite is a dioctahedral aluminosilicate widely used as paper filler and coating pigment. At the best of our knowledge, kaolinite is not widely used in polymer industry. Therefore, in this study, the flame retardant effect of kaolinite in ethylene vinyl acetate copolymer (EVA) and polypropylene (PP) were studied and compared with an alumina trihydrate (ATH) and Talc. Cone calorimeter results shows that the weight percentage of ATH in EVA/ATH composites must be at least 50 wt. % in order to reach an improvement in fire retardancy in terms of pHRR. In the case of EVA/kaolinite, even with 35 wt. % the pHRR is largely reduced. Comparing PP/Talc and PP/kaolinite composites at 30 wt. %, both fillers leads to same reduction in pHRR with a slightly better performance for PP/kaolinite composites. In both cases an intumescent behavior of kaolinite composites was observed that could slow the rate of the rising degradation products, allowing radical recombination reactions. Also, it was observed that kaolinite forms a protective layer on the surface of the samples, which could insulate the material. These behaviors (intumescence and formation of a protective barrier) could reduce the transfer of the degradation products to the flame and explain the better performance of kaolinite composites. INTRODUCTION The use of mineral fillers as fire retardants in polymer matrix are well known and widely studied [1]–[10]. Aluminum and magnesium hydroxides (respectively ATH and MDH) are the most widely used inorganic fire retardants. To achieve fire retardancy with these mineral fillers, about 50-60% loading is required which decrease the physical properties of the composites. The fire behavior of composite EVA has been the subject of many studies [4], [7], [9]–[15]. EVA copolymers are commonly used in the cable industry, due to their high ductility, even at high loading rates. In such applications, the flame retardant systems should be introduced into the polymer to improve the fire reaction. Many flame retardant systems have been tested but the most used industrially relates to formulations based on hydrated mineral fillers (aluminum hydroxide and magnesium hydroxide). Their low cost and reduced fumes generation explains their success. However, to obtain good performance with this type of flame retardants, it is necessary to incorporate high levels (up to 65 wt %), which severely impact other properties such as processability and mechanical behavior. The main modes of action of these flame retardants are the dilution of the gas phase, the endothermic decomposition and a barrier effect created by the inorganic oxide residue which may be improved by the incorporation of other components such as montmorillonites, silicas or talcs."

Jan 1, 2015

By Jorge A. Benitez Muro

Within the exploration programs carried on by the Consejo de Recursos Naturales No Renovables, the one with the largest coverage (more than 75, 000 square kilometers) is the northern Coahuila Exploration Project. Due to its nature, geochemical exploration methods were selected to obtain quick results. The program included essentially, three main stages : 1. - A regional geochemical stream sediment survey. 2. - Semi-detailed studies of the anomalous areas selected in the previous stage, and 3. - Detailed exploration of the promising areas. To the date, the first two stages have been completed, and the third one is being carried on. The work was started on september 1972, and it will probably take one more year before drilling can be started, but at the end of stage three it is expected that at least 5 important targets will have been detected. The regional work was conducted by 3 field crews, but the detailed program is being done by only one.

Jan 1, 1974

By Walter R. Hibbard

Precipitation in the northeastern United States, Florida, California and in many industrialized areas of the world is now more acidic (lower pH) than can be accounted for by natural causes. At the same time, the acidity of many lakes and streams in the northeastern United States has been measured and found to be similar to that of actual rain. These facts have led to conclusions that the two conditions are related. Coal burning utilities, 700 to 1000 miles upwind, have been accused of being the cause, leading to proposals for strict emission controls on the alleged offenders. The costs of these controls would place an estimated $10 to $15 billion capital burden on utility customers in about 15 states plus $2 to $6 billion annual operating costs. There appears to be no direct well-established scientific evidence that the accused are guilty but that the indictment is based largely on circumstantia1 evidence. This study examines the evidence, describes the situation and proposes what must be done to reduce the acid precipitation in an orderly cost beneficial manner. It is interesting to observe that studies by the different adversaries on the acid precipitation issue come to different conclusions largely because they do not read the same literature, but selectively develop evidence to support their own points of view, This study will try to review the issues impartially and reach a position of scholarly balance.

Jan 1, 1982

By Louis A. Panek

Determining the change of stress in rock based on measurements of the deformation of a drill hole is a procedure that is increasing in popularity. A closely related procedure involves the applicat10n of this principle to determine the existing stresses in a rock medium, by cutting free (core drilling) an annulus containing the drill hole. In this Bureau of Mines report, expressions are derived from which one can calculate the stress ellipsoid--the three-dimensional change of stress, or the existing three-dimensional stress field, as the case may be. Study of these equations shows that the stress components in three dimensions can be determined by measurements in only two drill holes, and yields general principles that are useful in planning an efficient program of drilling and measurement. Procedures are given for calculating the least squares estimates of the stress components and their standard errors, and for evaluating or comparing calculated values by means of standard statistical inferences.

Jan 1, 1966

By C. Stapel, P. D. Roberts, D. G. Jones, W. G. Macdonald, R. J. De Meijer

"Measurement of natural radioactivity has been used in both a qualitative and a quantitative way in mineral exploration, particularly in the search for uranium. In the last ?ve years, the Kernfysisch Versneller Instituut (KVI) and British Geological Survey (BGS) have designed, built and tested a new detector system that greatly improves quantitative applications in mineral exploration, especially on the sea?oor and in the nearshore zone. The new system is an enhancement of an earlier BGS design. The major improvements comprise the use of a highly sensitive ?-ray detector, together with new data processing, from which concentrations of natural radio nuclides may be deduced in real time. After laboratory analysis of samples, these concentrations can be converted into mineral percentages. Once the mineralogy of an area has been characterized, this conversion can also be done in real time.Thus far the system has mainly been used to map heavy-mineral concentrations in coastal subtidal and intertidal sediments. For such work the multi-sensor detector probe is towed on the sea?oor and various parameters are recorded continuously. The probe contains, in addition to the gamma-ray detector, a water-pressure sensor (giving water depth) and an acoustic device to measure bottom roughness. The system, when used together with high-precision positioning systems such as D-GPS,enables the production of detailed maps of bathymetry, bottom roughness, and sea?oor radioactivity or mineral distribution. These maps allow mineral concentrations to be readily correlated with sea-bed topography and sediment type. In the same way, ?-ray detectors could be used advantageously during dredging operations to provide on-line assessment of the mineral content of the dredged sediment as well as to guide the direction of dredging. Additionally, the same technique could be used to monitor the subsequent fate of a dredge spoil after dumping on the sea?oor.Natural radioactivity arising from potassium and the thorium and uranium decay series has potential use for the fast and reliable assessment of siliciclastic and phosphatic impurities in limestones. Detection of such impurities may preclude the use of the limestone for chemical or cement production.Apart from its use in exploration, the technique has signi?cant potential in mineral processing, particularly of heavy minerals. It can be applied as on-line quality control in dry and wet separation processes and for process control, by using decisions based on the results to control valves and other instrumentation. In addition, it can also be used in environmental monitoring of waste arising from mineral extraction and processing. In conclusion, the technique described has a diversity of applications in exploration, mining and mineral processing."

Jan 1, 1997

Albert Ladd Colby, New York, N. Y. (communication to the Secretary†):—I observed (Trans., xxxvii., 585) that to obtain tenders from several American mills, the foreign engineer should modify his maximum phosphorus to 0.10 per cent., not as Mr. E. Windsor Richards quotes me, that no American rail-maker can produce rails under 0.10 per cent. of phosphorus. Mr. Richards claims that no English engineer would agree to accept 0.10 per cent. of phosphorus on any terms whatever. Mr. Webster writes that only after an engineer has .been convinced that rails can be made in America equal in every respect to those he is getting abroad, should he be asked to modify ally conditions in his specifications. I know it to be a fact that during recent years in many cases, as, for instance, When delivery could be secured more promptly in the United States than in Europe, the consulting engineers of several British and colonial railroads have frequently agreed to modify their phosphorus requirement to a maximum of 0.10 per cent., and the rails delivered&apos; under these modified specifications have, under like conditions, given just as satisfactory service and proved to be no more brittle than similar sections of 0.07 per cent. phosphorus rails, rolled in England under the same specification except without modification as to phosphorus. Furthermore, it would appear from the analyses of British rails, quoted by E. A. Dancaster,2 in his discussion of Mr.

Jan 1, 1908

THIS bulletin presents all analytical and lest methods regularly used by Bureau of Mines laboratories for characterizing coal and coke. To provide better service to coal producers and consumers, the scope of this bulletin has been expanded to include important test methods used to evaluate coal properties for commercial processing. The methods described will prove valuable to all persons interested in analyzing and testing coal and coke.

Jan 1, 1967