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Since 1955 Gaspe Mines has produced 144 million tonnes of ore, averaging 0.87% Cu, mined from two open pits and underground workings. In 1994, four exploration drill holes discovered a buried porphyry/skarn Cu-Mo deposit at depths of between 1000 m and 1700 m below the top of Porphyry Mountain. The mineralization and alteration associated with the Porphyry mountain quartz monzonite does not outcrop. A total of 19,500 m of drilling in 12 drill holes has outlined 200 million tonnes grading 0.73% Cu and 0.08% Mo. Mineralization occurs as veins and disseminations of chalcopyrite and molybdenite. Drilling and feasibility studies continue.

Jan 1, 1998

By Lawrence D. Meinert

Most large skarn deposits are zoned in both space and time relative to associated intrusions. Zonation occurs on scales from kilometers to micrometers, and re?ects in?ltrative ?uid ?ow, wall rock reaction, temperature variations, and ?uid mixing. The most spectacular examples of skarn zonationusually occur at the skarn-marble contact, where transitions between monomineralic bands can be knifesharp. Other small-scale examples occur in zoned veins and individual mineral crystals. Although,visually striking and scienti?cally interesting, in mineral exploration these small-scale variations areless useful than deposit- or district-scale zonation. In most skarn systems there is a general zonationpattern of proximal garnet, distal pyroxene, and vesuvianite (or a pyroxenoid such as wollastonite, bustamite, or rhodonite) at the marble front. As well, individual skarn minerals may display systematic color or compositional variations within the larger zonation pattern. Such patterns are reviewed for 14well-studied examples of Cu, W, Sn, Au, and Zn-Pb skarns. In addition, many deposits have endoskarnor other alteration of the associated intrusion, and recrystallization or other subtle changes have occurred in the surrounding wall rocks. Copper skarns, such as Mines Gaspé in Quebec and Big Gos-san in Irian Jaya, have high ratios of garnet:pyroxene and are zoned outward from the intrusion, to gar-net, to pyroxene, to massive-sul?de replacement and vein deposits. Garnets in Cu skarn are Fe-rich and change from dark red-brown near the intrusive contact to paler brown, green, or yellow in distal loca-tions. Pyroxenes in Cu skarns are pale and diopsidic near the intrusion, and become darker and more Fe- and Mn-rich away from the intrusion. Tungsten skarns, such as Salau and Costabonne in France and Pine Creek and Garnet Dike in California, have intermediate ratios of garnet: pyroxene, are more extensive vertically and along strike than perpendicular to the intrusive contact, and have zonation pat-terns commonly complicated by overprinting of metamorphic lithologies. In W skarns, garnet is com-monly subcalcic and the pyroxene is Fe-rich, re?ecting particularly reducing wall rocks or great depth of formation. Tin skarns, such as Dachang in China and Moina in Australia, also can have subcalcicgarnet and Fe-rich pyroxene, but this reduced mineral assemblage typically is due to an association with reduced S-type granites. Tin skarns differ from most other skarn types in having a late greisens stage that may replace earlier Sn-bearing calc-silicate minerals, thus liberating Sn to form cassiterite.Many high-grade Au skarns, such as Hedley in British Columbia and Fortitude in Nevada, have low ratios of garnet: pyroxene and are associated both with reduced plutons and reduced wall rocks. Gold-rich zones occur in Fe-rich, pyroxene-dominant, distal skarn. Zn-Pb skarns, such as the Yeonhwa-Ulchin district in Korea and Groundhog in New Mexico, have low ratios of garnet: pyroxene and generally form distal to associated intrusions. These skarns also are zoned from proximal garnet to distal pyroxene and pyroxenoid (bustamite-rhodonite), with signi?cant zones of massive sul?des within and beyond skarn. Manganese enrichment of most mineral phases, particularly pyroxene, is characteristic of distal zones. Fundamental controls on skarn zonation include temperature, depth of formation, composition and oxidation state of associated plutons and wall rocks, and tectonic setting. Most W skarns form at relatively great depth, 5 km to 20 km, with extensive high-temperature metamorphic and meta-somatic mineral assemblages. In contrast, most other skarn types are relatively shallow, <10 km and mostly <5 km, with limited, lower temperature metamorphic aureoles. Differences in oxidation state correlate well with different skarn zonation patterns, particularly garnet: pyroxene ratios and compositions, and can be used in both classi?cation of and exploration for skarn deposits

Jan 1, 1997

By W. J. D. Stone

"For several years, the existence of a deposit of barite (BaS04) near Brookfield, Nova Scotia, has been known. A very large deposit of strontium (SrS04) near Sydney, Cape Breton, is a more recent discovery. Cape Chemical Syndicate has been formed to work the deposits. A five-million-dollar integrated mineral processing and chemical plant is planned for Sydney to produce various compounds of barium and strontium. The mineral processing plant includes the Jones Wet Magnetic Separator and will produce high-purity barite and celestite. These products will be processed further in the fine grinding plant and the chemical plant. The general project is described, covering the deposits, processing and markets."

Jan 1, 1969

By B. A. Wilcox

ThERE are several reports in the literature which indicate that both solid-solution hydrogen and hydride precipitates can promote low-temperature em-brittlement of tantalum.1-3 For example, Imgram et al.2 showed that hydrogen additions in the range of 140 to 580 ppm promoted a ductile-to-brittle transition at slightly above room temperature in both wrought and recrystallized tantalum. This contrasts with the observation that tantalum of norma1 purity is very ductile, even at liquid-nitrogen temperature. Imgram et al. also found that hydrogen additions caused a deterioration of notch tensile properties of tantalum. The purpose of this communication is to present some limited evidence that hydrogen can also cause fatigue embrittlement of tantalum. The material used in this investigation was wrought, stress-relieved (1000°C, 1 hr), are-melted tantalum rod (5/8-in. diameter) containing the following impurities in weight percent: 0.005 C, 0.007 02, 0.0005 H2, 0.003 N2, 0.08 Cb, 0.01 W, and 0.01 Fe. Hydrogen charging was done in an atmosphere of flowing dry hydrogen for 3 hr at 600°C, followed by an homogenizing anneal in purified argon for 15 min at 600°C, and cooling in an argon atmosphere. Typical micro-structures of the hydrogen-free and the hydrogen-charged materials are shown in Fig. 1(a) and Fig. 1(b), respectively. Fig. 1(b) shows the appearance of hydride precipitates which, in many cases, formed preferentially parallel to the rod axis. The hydride dispersion was uniform across the diameter of the specimen. The fact that the precipitate was a tantalum hydride was tentatively confirmed by X-ray diffraction on a metallographically prepared surface. After hydrogen charging, chemical analyses by vacuum fusion revealed the hydrogen content to be 0.0295 wt pct. In addition, the oxygen and nitrogen contents were slightly raised to 0.0095 O2 and 0.005 N2.

Jan 1, 1964

By AIME AIME

EVERYONE enjoyed the coal meeting and found it profitable. At least your correspondent did, and those to whom he talked. Close to a hundred were there. The Coronado proved an excellent headquarters hotel, though it is two miles or more from the business district of St. Louis; its Crystal Room was suitable for the technical sessions; its Lounge adequate for registration and informal chats; its Club Caprice made an artistic setting for the informal banquet; and its Coal Hole in the basement presumably served other needs-unfortunately we passed up an invitation to find out, and never got another. To be sure, the first day of the meeting (Monday, Oct. 28) was a drizzly one, but that only served to keep people inside where they belonged. Believe it or not, the first technical session was only five minutes late in getting tinder way, with H. N. Eavenson&apos;s words of welcome. M. M. Leighton then took over the conduct of the meeting, and invited Eugene McAuliffe to read his paper on how much coal the railroads are likely to use in the future. E. G. Bailey then presented some written discussion; among other things he wondered about the success of stokers on locomotives, and whether or not the burning of coal in locomotives could not he made a cleaner operation. Mr. McAuliffe pointed out that railroads are built to haul coal rather than to burn it. Maximum firebox efficiency is often subordinated to the traffic situation. Powdered-coal firing has not been a success because of limited firebox space. Stokers have resulted in economies indirectly, because large locomotives cannot he hand-fired and stokers thus make them possible. Nowadays it is not so important to do away with smoke, cinders, and soot, because most trains are sealed up and air-conditioned.

Jan 1, 1935

By Liming Yuan, James Rowland, Lihong Zhou, RICK THOMAS, DAVOOD BAHRAMI

Continuous monitoring of carbon monoxide and other fire-related parameters by means of an atmospheric monitoring system (AMS) has been used by the mining industry for early fire detection in underground mines. The National Institute for Occupational Safety and Health (NIOSH) initiated a project to integrate real-time AMS sensor data with NIOSH’s mine fire simulation program, MFIRE 3.0, to simulate and predict the spread of smoke that would provide assistance to mine fire emergency response personnel. Determining the heat release rate of a fire using the monitored sensor data was a critical component of the successful completion of this project. NIOSH researchers developed a direct method to calculate the heat release rate when a fire is within close range of sensors. However, this method is only applicable to the case where a fire occurs in AMS-monitored airways. This paper presents an improved method for determining the fire heat release rate for complicated scenarios where a fire is distant from sensors and airflow splits and merges are present. The method was validated using a fullscale diesel fuel fire test conducted in the Safety Research Coal Mine at the Pittsburgh Mining Research Division and can help mine operators and safety personnel make informed decisions during a fire emergency.

Jul 31, 2020

By Jimenez Leon, Christopher Newman, Boede Gabriel, Zacharias Agioutantis

"Ground movements due to longwall mining operations have the potential to damage the hydrological balance within as well as outside the mine permit area in the form of increased surface ponding and changes to hydrogeological properties. Recently, the Office of Surface Mining, Reclamation and Enforcement has completed a public comment period on a newly proposed rule for the protection of streams and groundwater from adverse impacts of surface and underground mining operations (80 FR 44435). With increased community and regulatory focus on mining operations and their potential to adversely affect streams and groundwater, there is now a greater need for better prediction of the possible effects mining has on both surface and sub surface bodies of water.As mining induced stress and strain within the overburden is correlated to changes in the hydrogeological properties of rock and soil, this paper investigates the evaluation of the hydrogeological system within the vicinity of an underground mining operation based on strain VALUES (calculated through a surface deformation prediction model. Through accurate modeling of the pre- and post-mining hydrogeological system, industry personnel can better depict mining induced effects on ground water flows through the overburden material aiding in the optimization underground extraction sequences while maintaining the integrity of surface and subsurface bodies of water.INTRODUCTIONThe utilization of high-recovery underground mining methods, such as longwall or high-extraction room-and-pillar operations, have the potential to cause adverse impacts to both surface and subsurface bodies of water as strata movement and deformations propagate from the mined seam through the overburden to the surface (Peng, 2008).Previous research has indicated that mining induced strains are the most damaging to surface streams (Singh, 1992) as well as greatly affecting the integrity of subsurface bodies of water and groundwater flow conditions (Booth, 1986). On the surface, adverse effects to the stream can occur due to the development of either tensile or compressive strain in the stream bed. The development of tensile cracks along the bedrock allows for a potential loss of stream flow through developed fissures. In fact, water flow in the Cataract River of Australia ceased in 1994 as a result of mining-induced strains from longwall operations in the Bulli seam 430 meters (1320 feet) below the river gorge (McNally and Evans, 2007). On the other hand, the development of compressive strains within the rock layers can cause rupturing or buckling of the stream bed, blocking stream flow and/or diverting flow into the fractures at the base (Iannacchione et al, 2010). While these localized fractures can contribute to the loss of stream flows, given time, damaged streams have the ability to self-heal through the regeneration of near-surface aquifers as well as the sealing of mining-induced fractures with rock debris, gravel, sand, clay or other soil particles carried from upstream sources and deposited in the river bed (Waddington and Kay, 2002)."

Jan 1, 2016

By G. D. MacDonald

The Grasberg porphyry copper-gold deposit of P.T. Freeport Indonesia, Co. is located in the Jayawijaya Mountains of Irian Jaya, Indonesia approximately six km west northwest of Puncak Jaya, the highest point on the island of New Guinea. Disseminated mineralization is confined to the Grasberg intrusive complex, a multiphase intrusion of dioritic to monzonitic composition which intruded tightly folded carbonate rocks of the Tertiary Faumai and Ainod formations. The high tonnage and grade of the deposit (1 X 109 tonnes at 1.4 % copper and 1. 8 ppm gold) appear to result from a succession of coincident intrusive and mineralizing events about three million years ago. This paper will focus on the history and character of these events.

Jan 1, 1993

By M. Vondersaar, B. Bulnes

Quemetco, Inc.,. as a subsidiary of RSR Corporation, operates one of RSR's three secondary lead smelters in the City of Industry, California, next to a residential area within Los Angeles County. The Reverberatory furnace serves as the main reactor for melting lead grid and paste recovered by the battery crushing system. Feed material is introduced via screw conveyor after drying in an upstream rotary kiln. Slag produced by the Reverb flows directly to an electric arc furnace. Products from this one-pass furnace system consist of soft lead bullion from the reverb, hard lead bullion from the arc furnace, and a non-hazardous slag from the arc furnace. Furnace bullion is processed into finished product in a six-kettle refinery. An overview ·of plant operations is presented. Where applicable, references will be made to changes that have taken place during the last decade.

Jan 1, 2000

"The content of production reports has its origins in raw measurements taken in harsh production environments. The ensuing measurement/estimation errors always affect reproducibility such that, regardless of the fact that they are balanced through statistical data reconciliation, reported numbers are simply the most probable values of inferred probability distributions. This has important implications for how metal recoveries should be monitored and reported. Indeed, in a context where many process optimisation activities are based on small improvements in recovery, there should be no doubt that inadequate handling of measurement/estimation errors can easily exaggerate or mask actual changes in process performance. However, estimates of the reproducibility of reported metal recoveries are rarely reported to plant management. This situation persists despite the fact that a code compliant metal accounting system must inform management about business risks related to metal accounting. To this extent, this paper focuses on the continuous management of reproducibility level of metal recoveries in compliance with the best practices. Sensitivity analysis of primary and secondary metal accounting models is performed to show the resulting probability distributions for metal recoveries. Some guidelines are given for designing and managing metal accounting systems capable of achieving and sustaining predefined levels for the reproducibility of metal recoveries.INTRODUCTIONEach and every mineral processing plant produces daily, weekly and monthly production reports in which metal balances for payable and penalty elements are presented. While such production reports are usually consulted in offices, underlying raw measurements are taken in harsh production environments where mechanical vibrations, humidity, corrosion and dust, to name a few, disturb measurement procedures. It is thus no surprise that several authors (Francois-Bongarcon & Gy, 2002; Gaylard, Randolph, & Wortley, 2014; Holmes, 2010; Spangenberg & Minnitt, 2014) have reported pervasive issues related to mass/sampling measurements in the context of mineral processing."

Jan 1, 2016

By Lawrence D. Meinert

Abstract-Most large skarn deposits are zoned in both space and time relative to associated intrusions. Zonation occurs on scales from kilometers to micrometers, and reflects infiltrative fluid flow, wallrock reaction, temperature variations, and fluid mixing. The most spectacular examples of skarn zonation usually occur at the skarn-marble contact, where transitions between monomineralic bands can be knife sharp. Other small-scale examples occur in zoned veins and individual mineral crystals. Although, visually striking and scientifically interesting, in mineral exploration these small-scale variations are less useful than deposit- or district-scale zonation. In most skarn systems there is a general zonation pattern of proximal garnet, distal pyroxene, and vesuvianite (or a pyroxenoid such as wollastonite, bustamite, or rhodonite) at the marble front. As well, individual skarn minerals may display systematic color or compositional variations within the larger zonation pattern. Such patterns are reviewed for 14 well-studied examples of Cu, W, Sn, Au, and Zn-Pb skarns. In addition, many deposits have endoskarn or other alteration of the associated intrusion, and recrystallization or other subtle changes have occurred in the surrounding wallrocks. Copper skarns, such as Mines Gaspé in Quebec and Big Gossan in Irian Jaya, have high ratios of garnet:pyroxene and are zoned outward from the intrusion, to garnet, to pyroxene, to massive-sulfide replacement and vein deposits. Garnets in Cu skarn are Fe-rich and change from dark red-brown near the intrusive contact to paler brown, green, or yellow in distal locations. Pyroxenes in Cu skarns are pale and diopsidic near the intrusion, and become darker and more Fe- and Mn-rich away from the intrusion. Tungsten skarns, such as Salau and Costabonne in France and Pine Creek and Garnet Dike in California, have intermediate ratios of garnet:pyroxene, are more extensive vertically and along strike than perpendicular to the intrusive contact, and have zonation patterns commonly complicated by overprinting of metamorphic lithologies. In W skarns, garnet is commonly subcalcic and the pyroxene is Fe-rich, reflecting particularly reducing wallrocks or great depth of formation. Tin skarns, such as Dachang in China and Moina in Australia, also can have subcalcic garnet and Fe-rich pyroxene, but this reduced mineral assemblage typically is due to an association with reduced S-type granites. Tin skarns differ from most other skarn types in having a late greisen stage that may replace earlier Sn-bearing calc-silicate minerals, thus liberating Sn to form cassiterite. Many high-grade Au skarns, such as Hedley in British Columbia and Fortitude in Nevada, have low ratios of garnet:pyroxene and are associated both with reduced plutons and reduced wallrocks. Goldrich zones occur in Fe-rich, pyroxene-dominant, distal skarn. Zn-Pb skarns, such as the Yeonhwa- Ulchin district in Korea and Groundhog in New Mexico, have low ratios of garnet:pyroxene and generally form distal to associated intrusions. These skarns also are zoned from proximal garnet to distal pyroxene and pyroxenoid (bustamite-rhodonite), with significant zones of massive sulfides within and beyond skarn. Manganese enrichment of most mineral phases, particularly pyroxene, is characteristic of distal zones. Fundamental controls on skarn zonation include temperature, depth of formation, composition and oxidation state of associated plutons and wallrocks, and tectonic setting. Most W skarns form at relatively great depth, 5 km to 20 km, with extensive high-temperature metamorphic and metasomatic mineral assemblages. In contrast, most other skarn types are relatively shallow, <10 km and mostly <5 km, with limited, lower temperature metamorphic aureoles. Differences in oxidation state correlate well with different skarn zonation patterns, particularly garnet:pyroxene ratios and compositions, and can be used in both classification of and exploration for s

Jan 1, 1997

By H. D. Hess

This report describes in detail a unique occurrence of fersmite, (Ca, Ce, Na) (Cb, Ti, Fe, Al)2 (0, OH, F)6, which occurs as small anhedral inclusions and intergrowths with a tantalum-free columbite found in the metamorphic complexes of Ravalli County, Mont. Chemical and crystallographic data along with the physical and optical properties agree in general with those given in the original description of fersmite from the Ural Mountains of Russia. X-ray diffraction data not given in the original description and more specific optical data have been determined. The Montana fersmite, now established as the second occurrence of this rare calcium-columbate mineral, was discovered during a routine Bureau of Mines mineralogical examination of a prospector&apos;s sample.

Jan 1, 1960

It has long been recognised that Australia can benefit substantially in an economic sense from its rich resource base. The significant resources of the Gippsland Basin are a good example of the wealth of this nation. As cited in popular debate, Australia must value-add to its natural resources to ensure its long term economic prosperity. The significant oil, gas and coal resources of the Gippsland Basin have provided the Strategic Research Foundation with the basis for two major research and development initiatives ensuring the long term economic development of the Basin and Australia. The gas and coal reserves of the Basin together with the area&apos;s extensive history in electricity generation provide the rationale for establishing Ceramic Fuel Cells Ltd. A consortium comprising Australia&apos;s leading industrialist - BHP, State energy authorities and the Nation&apos;s major research and development organisations, has formed Ceramic Fuel Cells to undertake and manage research, development and commercialisation of solid oxide (ceramic) fuel cells which convert fossil fuels directly to electricity with greater efficiency and less pollution than existing technologies. The oil and gas resources of the Basin together with the valuable experience of the operators in recovering these resources, have provided the impetus to investigate the feasibility of a Marine Engineering Research Centre. The commercially oriented research, education and training objectives of the Centre are well supported by the leading industrialists in related industries.

Jan 1, 1992

By Jan M. Mutmansky

Simulation is a general term which commonly appears in the technical literature and which can have different meanings to different people. One interesting definition (9)* applicable in an engineering context is the following: "Simulation is the use of a model to study a problem." In most cases, the model referred to in the above definition is a simulation model constructed in a computer language and implemented on a computer in order to solve the problem under consideration. The application of computer simulation models to the study of problems in materials handling and earthmoving has been successful in the past. Generally speaking, this method has been used where the system to be studied has many variables and where the ability to predict the outcome of the system under different sets of conditions is difficult. The prime reason for using such a model is to evaluate the numerous likely ways of operating any particular system without the necessity of actually conducting full-scale field tests. The simulation model presented here is such an application made to the process of tunneling and, in particular, to the process of tunneling with a boring-type tunneling device. At first glance, the process of tunneling may not appear to be particularly complex and susceptible to study by a computer model. However, a close analysis of the tunneling process will reveal that it is rather complicated as a result of limitations placed upon the system by restricted space in the tunnel, geologic variations along the tunnel

Jan 1, 1972

By R. L. Zick, J. D. Byars, T. P. Mucho

Recently, a large Pittsburgh seam longwall mine was nearing depletion of a major portion of its current reserves and had begun to develop in a different direction from its original portal area to access additional reserves. This meant that a large area of the mine would be abandoned and sealed. However, continued use of the original mine portal area required that the water accumulating in the abandoned mine would eventually need to be pumped to the surface. This would be in addition to the discharge water associated with the new portion of the mine. Several pumping and sump options were investigated to handle the quantity and quality of the anticipated discharge water. This paper describes some of these options, their advantages and disadvantages, and the final engineering decisions. Some problems and unanticipated outcomes, as well as the eventual solutions are discussed, including: (1) estimates of pump requirements, (2) water pool size, (3) eventual water quality, (4) anticipated inflows, and (5) integration into the overall mine water system.

By A. Rodriguez-Prado, P. Kuschk, R. L. Legge, W. C. Lennox

Using constructed wetlands to chemically reduce hexavalent chromium Cr(VI) to Cr(III) from industrial and mining wastewater has proven to be feasible and efficient. Applying first-order kinetics to describe the process is simple, but in some cases a more accurate model is required to reflect the process. This paper studies the feasibility of using non–first-order kinetics to describe the reduction process. Results indicate that half- and second-order kinetics adequately described Cr(VI) reduction in laboratory wetland mesocosms. The organic carbon content played a relevant role, whether it was built up by plant growth or spiked into the feed water.

Jan 1, 2014

By Roy L. Soderberg

The Bureau of Mines has conducted substantial research on the design, construction, and operation of metal and nonmetal tailings ponds. This design guide, like related Bureau publications that preceded it, is produced to assist the industry in the management of mill tailings disposal. It covers the site selection, sampling, laboratory testing, design, construction, operation, and inspection of tailings embankments. The effects of environment, topography, and hydrogeology are also included, and various methods of stability analysis and factors affecting stability are reviewed. Because of the diversity of problems encountered in tailings embankments, specific solutions are not intended. The guide is, however, a useful checklist for designers, operators, and inspectors of this type of structure.

Jan 1, 1977

By S. Rick Gilbert

In the course of producing a final metal product, smelters, refineries, and other metallurgical facilities produce wastes which often come under the ?scrutiny of Federal and state regulatory agencies. Many of these wastes contain combinations on zinc, copper, lead, cadmium, nickel or other metals. Frequently in the form of reverts, dusts, or sludges, these metal-containing wastes are often buried in a landfill or speculatively accumulated for future action. Environmental liability can be reduced in many cases by selecting,-a recycling facility which can re-process the waste for.&apos; metal recovery. Encycle, at its hydrometallurgical facility Corpus Christi, has Successfully processed a variety of metallurgical by-products and wastes and returned those contained metals to commerce.

Jan 1, 1995

By D. W. Loughridge

INTRODUCTION Raising capital in the 1990s is a timely subject. However, many of us thought why should raising capital in the 1990s prove to be unlike it was in the 19805, the 1970s, the 1%0s, or earlier? There are a lot of creative people in banking and in corporate treasury departments. New tools and techniques are continuing to emerge, many of which are discussed in other papers in this book. While we have new financing tools at our disposal, the underlying issue has not changed. Projects and investments must be judged on their own merits. If they cannot be justified by conventional financial analysis, they should not be built. If they can be justified, it is likely that the financing will be available. The challenges faced in raising capital in this decade will persist to the next. The issues of the 1980s -- currency fluctuation, disruptive merger and acquisition activity, commodity price volatility, political risk, and debt crisis -- will all persist in an increasingly international business environment. I will focus on the financing we have just completed for the Escondida Copper Project in Chile. The Escondida financing is structured along the classic project financing model developed in the late 1970s, but it deals with issues of the 1980s and the 1990s. The financing was intriguing, not just because of the technical issues involved, but also the challenge of reaching an agreement in a large and diverse group. Escondida had the one essential feature that made its financing possible. It was commercially very attractive. It would produce at low cost a commodity (copper concentrates) that direct consumers felt would be in tight supply. The project had the direct support not only of its sponsors, but also its customers, and, very importantly, its host government. The non- recourse financing of Escondida would not have been possible without the support of these parties, and without the robust economics that made this effort worthwhile. The issue was more complicated. Operations in all parts of the world entail some political exposure. This project is in Chile, where there was a constitutional requirement that a plebescite be held when the project would be in its early stages. This plebescite would determine the fate of a 15 year old military dictatorship. The project is copper, a commodity generally deemed to be in surplus. Copper has a history of price volatility (whose price has varied from $.58 to $1.53 per pound over the past two years). It is politically sensitive, not only in Chile, but in the United States, Canada and other developed countries. The project is international, with all the problems of dealing with a variety of currencies, a variety of cultures, and a variety of laws and commercial practices. The project is also large and capital intensive, with a total cost of U.S. $1.1 billion. ESCONDIDA PROJECT Escondida, the largest known copper ore body in the world, was discovered in March of 1981, by Utah International in a joint venture with Getty Oil Company. In 1984, both Utah and Getty were involved in ownership changes, Utah being acquired by BHP. A later restructuring of the ownership of Escondida resulted in BHP, as manager, carrying a 60% interest, Rio Tinto-Zinc Corporation (RTZ) 30%, and a consortium of Japanese companies led by Mitsubishi Corporation with 10%. The Japanese consortium is incorporated as JECO (Japan Escondida Corporation). This ownership structure, which spread ownership around the world, was the first tangible step toward managing both the commercial and political risk associated with the project.

Jan 1, 1990

Enhancing the Flotability of Gold-Bearing Ores by a Mixture of Collectors

Sep 13, 2010