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A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994

By G. Buchan

This paper discusses the design of long panels for longwall mining at Twentymile Coal Company (TCC) from conception to implementation. The case study of the long panels at Twentymile includes extensive mine plan reengineering in the early 1990's to world record production months in 1996 and 1997. The obstacles of subsidence engineering, environmental regulations, conveyance, ventilation, equipment design, and continuous miner (CM) development timing had to be overcome to successfully begin longwall production within a 4 year time frame. The background and some detail for each of these areas listed will be discussed to show how the coordination of many facets must be pulled together to implement a successful long panel mine plan.

Jan 1, 1998

By D. A. Hill

A survey of the literature on ELF and VLF atmospheric noise has been made. Most measurements have concentrated on the vertical electric field and the horizontal magnetic field rather than the vertical magnetic field which is of interest in transmission between horizontal loops. The limited vertical magnetic field data indicates that the vertical component is generally 10 to 20 dB below the horizontal component. Three laterally inhomogeneous earth models have been analyzed for conversion of horizontal to vertical magnetic field. The rough surface model examines surface effects, the inhomogeneous thin sheet model treats volume effects, and the buried cylinder model treats localized man-made effects. All three models predict the possibility of significant conversion from horizontal to vertical magnetic field. A thin sheet model has also been used to examine transmission from a buried magnetic dipole source. It is found that the predicted fields more nearly model the measured data than does the homogeneous half-space model.

Jan 1, 1982

In 1801, Hatchett discovered the oxide of a new element while he was examining a heavy black mineral from Haddam, America, which had been presented to the British Museum. He named the mineral Columbite and the metal Columbium. A year later a Swedish investigator, Eckeberg, while working with a new mineral resembling columbite-yttrotantalite discovered a new element, to which he gave the name of tantalum.In 1844, Rose announced the existence of two new elements in a sample of columbite from Bodenmais. One was similar to Eckeberg's tantalum and the other was called Niobium. Wollaston, in 1909, attempted to show experimentally that columbium and the tantalum were identical, but it was soon proved that they were two separate elements. Subsequently a number of investigatiors found other "new elements" in tantalum and columbium bearing ores, but these were shown to be mixtures of the twin metals.Since Hatchett's Columbium and Rose's Niobium are identical, it is more fitting to use the name assigned to this element by the earlier investigator. However, the term niobium is still retained in Germany and England.The separation of tantalum and columbium has been one of the major problems for analytical chemists since the discovery of the two elements and it is only in recent years that tantalum of a high degree of purity has been produced. High purity columbium metal is probably still to be obtained.Until 1903 tantalum was merely a laboratory curiosity, but about this time its use in incandescent electric light bulb filaments was discovered. Eight years later it was replaced by tungsten, which was better and cheaper. For a time the electrolytic valve action of tantalum was used in the charging of storage batteries, but the chief uses of the metals' to-day are for corrosion resistant apparatus, in vacuum tubes and as carbides in the manufacture of hard cutting and shaping tools.Most of the recent work on the metals has been done by C. W. Balke, in America. Tantalum has been studied more than columbium. OCCURRENCE OF TANTALUM AND COLUMBIUMI. NATURE OF ORESTantalum and columbium occur, nearly always together, as the oxides in combination with other metallic oxides. The only known exception to this is the reported occurrence of metallic tantalum with gold in the Ural Mountains. Unlike most other metals, no compounds with sulphur are known to occur in nature. Tantalum and columbium minerals occur usually...

Jan 1, 1943

By Theodore H. Budd, Douglas J. Heinz

This report concerns the successful construction of Contract No. 287 of the Northeast Side Relief Sewer System for the Metropolitan Sewerage District of the County of Milwaukee. The contract involved the construction of approximately 3316 meters (10,880 feet) of tunnel concrete lined to 1.83 meters (72 inch) internal diameter; 30.48 meters (100 feet) of 1.83 meters (72 inch) reinforced concrete pipe jacked-in-place; a river crossing of approximately 107 meters (350 feet); 197 meters (647 feet) of 1.83 meters (72 inch) reinforced concrete pipe in open-cut; several diversion and flow monitoring structures; and miscellaneous manholes and appurtenances. The contract proposal, which was extremely prescriptive, did allow alternative methods of primary support consisting of precast reinforced concrete segments, steel liner plates, steel ribs with wood lagging, and combinations thereof in designated areas. The specifications required the contractor to designate which support scheme it intended to use. The specifications also required compressed air as a means of ground water control for approximately 2316 meters (7600 feet) of tunnel. The alternative selected in the bid proposal was the support method consisting of steel ribs and wood lagging for 2263 meters (7425 feet) of tunnel and steel liner plates for the remaining section. Shaft supports, by specification, were designed to be steel liner plate with steel ribs varying in size from 4.27 meters to 6.10 meters (14 foot O.D. to 20 foot O.D. ).

Jan 1, 1983

The structural design of a mine haul road involves the determination of cover thickness requirements above the in-situ or sub-grade material. The specification of these layerworks is a critical component in the overall road design process. Poor design often leads to premature failure of the road, safety is often compromised and productivity and equipment service-life will certainly decrease. Historically, the California Bearing Ratio (CBR) cover-curve design method has been widely applied to the structural design of mine haul roads. More recently, established mechanistic design principles have superceded the CBR approach to haul road design, using a multi-layer model to represent the various road structural layers. The structural design and associated layer thickness requirements are then determined following a maximum strain criterion. This paper develops a case-study evaluation of the CBR cover-curve and mechanistic design methodologies and through a comparative analysis of layerworks and materials, highlights how improved structural design can be achieved mechanistically.

Jan 1, 2011

By H. Burton

"The selection of the ultimate pit shell has a major impact on the overall value of a mining project. The size and shape of this pit drives the selection of pushbacks, equipment, and project strategy, each of which are significant in their own right. Optimization of the ultimate pit shape is typically done using the Lerchs-Grossman algorithm with inputs of production costs, commodity prices, and pit slope constraints. This method ensures that every tonne mined is profitable but does not take into consideration the timing of material release. This timing is essential when calculating the Net Present Value (NPV) of the project, which is one of the most popular metrics for valuing deposits. Often, when the mining schedule and discounting are applied, material that was considered profitable before discounting becomes sterilized. The objective of this paper is to show the methodology for improving ultimate pit selection by considering the production schedule. Application of this technique will generally produce a smaller and higher-value pit than using the Lerchs-Grossman algorithm alone. INTRODUCTION The Lerchs-Grossman Algorithm was developed in the 1960s and exists to produce a mathematically optimum shape for open pit mines (1). This algorithm is now an industry leading technique for producing the theoretical optimum shape for open pits and is used in many popular pit optimization and strategic planning software packages, such as GEOVIA’s Whittle. The Lerchs-Grossman (LG) Algorithm is based on graph theory and optimizes on the assumption of non-discounted cash flows. This produces a mathematically optimum shape, but does not consider the timing with which the material will be removed from the ground. This is an important consideration, given that one of the most popular metrics for evaluating mining projects is Net Present Value (NPV) (2), which relies on the timing of cash flows as a major differentiator between options. This paper will discuss issues inherent in the use of ultimate pit selection based on undiscounted economic factors and illustrate a simple technique in Whittle, a leading software package, which can be used to improve the NPV of projects."

Jan 1, 2015

By T. P. Weldum, W. Conger

"These studies address the relationship between mill media sizing and its grinding efficiency. Starting with the results from a review of the literature, the issues of initial media sizing for a new ball milling circuit, and then optimal media sizing for an existing milling operation, were studied. The Functional Performance parameters “Mill Grinding Efficiency” and cumulative “Mill Grinding Rates” from both plant and test-scale equipment were used, and provide valuable new insight into this topic. A plant media sizing diagnostic tool is presented, as are newly developed testing equipment and evaluation methods, and recent case studies.REVIEW OF MEDIA SIZING LITERATURE For a plant metallurgist to answer the question “How can I maximize plant profit by manipulating this grinding circuit variable?” she must know what effect the variable has on grinding circuit efficiency. Despite the significant cost of grinding media and its potential effect on production capacity, the ‘best’ media sizing remains ill-defined for any given ball mill circuit in the industry today. The underlying reasons for this will be discussed. But the importance of this issue drove Metcom and its industrial partners to take on the challenge of how to engineer the ball charge for an existing grinding circuit. In the absence of any proven method, the first step was a review of the literature. Sponsored by Cleveland-Cliffs, Inc., a broad review of the literature was undertaken, producing “The Effect of Media Sizing on Ball Milling Efficiency” (McIvor, 1997). Among hundreds of publications that were reviewed that discuss the topics of media sizing or wear, forty-five were studied in detail. These were grouped into: plant experiences; laboratory and pilot plant investigations; media wear studies; population balance modeling studies; and general papers on ball milling which included the topic of media sizing. The reader is encouraged to refer to that review. The findings remain unchanged, although some relevant papers have been written since (e.g. Staples et al, 1997; Banasi et al, 1999; Orford et al, 2006; LaMarsh, 2015). The main findings of the review were as follows:"

Jan 1, 2018

By Ernest Bohnet

Each mining operation is unique in some aspect ownership; ore body location, size, geometry, grade, mineralogy, hydrology, or geotechnical parameters; or constraints such as environmental regulations. However, all mining operations are alike in one aspect; the prime objective of any mining project is to maximize the return on the investment. This is the golden rule, or in the language of mining, the investor?s law of conservation. A mineral resource, by definition, does not become a minable reserve unless the mineral or minerals can be extracted economically (and legally). The three preceding sections have covered the various types of surface mining options. The choice of the most economic method is dictated primarily by the type of de-posit to be mined, the mining rate, and the physical characteristics of the deposit.

Jan 1, 2008

By W. W. Adams

Lower accident rates were the outstanding feature. of the second annual sand and gravel safety competition conducted in 1930 by the United States Bureau of Mines in cooperation with the National Sand and' Gravel Association. Both the frequency and, severity rates for accidents were greatly reduced as compared with those shown by the first year's contest, that for 1929. Three times as many plants were enrolled, and the number of man-hours of work represented was more than doubled. Seventy-six sand-and-gravel plants, situated in 20 States, participated in the Competition, as compared with 26 plants, located in 13 States, in the year before. The number of man-hours of employment, which indicated the amount of exposure to occupational hazards, was 4,915,592, an increase of more than 100 per cent over the previous year's total of 2,259,572 hours. The frequency of accidents declined from 74.4 per million hours for all plants enrolled in the first year's contest to 42.7 per million man-hours for all plants enrolled in 1930. The accident-severity rate was reduced from 9.7 days of disability per thousand man-hours of exposure in 1929 to 5.9 days of disability per thousand man-hours of exposure in 1930. The actual number of accidents reported for 1930 by 76 plants included four deaths and 206 injuries whereas the 26 plants that were enrolled in 1929 reported three fatalities and 165 injuries. Under the rules of the contest all "lost-time" injuries are reported--that is, all injuries that disable an employee for more than the remainder of the day on which the accident occurred. If the employee is physically able to resume his work on the day following the accident, the injury is not classed as a lost-time injury. The contest covered accidents and man-hours worked by all employees at the plant who were employed by the same company, and included work up to the point of delivery of the material directly to consumer or to independent agency of transportation--in other words, to point of relinquishment of control of the material by the producer.

Jan 1, 1931

By Eduardo M. Sacris

The performance of the grinding circuit, from the initial stages of operation to the present, is discussed. The mill efficiency as measured by the Bond grindability data and the operating work index is presented. The objective has been to produce a sand cyclone overflow containing not more than 6% +65 mesh. However, this has never been attained even at low milling rates. On the other hand, significant improvements in throughput were achieved by instituting some equipment changes and process modifications within the grinding circuit. The latest approach to solving the coarse grind problem is also discussed.

Jan 1, 1983

By J. Bhattacharya

In many different ways industrial raw materials resources industry as a whole has accepted the principles of sustainable development and has made a commitment to move toward this goal. The critical question now is ?how?? While many companies have adopted policies and are implementing community relations programs, sustainability is not always ?lived? throughout the organization. While traditional programs and commitment from the top are critical, employees within all functional areas can advance sustainability. Individuals can make difference at all organizational levels, and it is this collective action that is so critical for enhanced financial performance as well as the preservation of the industry. Keywords: value chains, sustainability, legislation, auditing process

Sep 1, 2012

By J. W. Buch

IN THE FIELD of track haulage, interest has seemed to center on the question of larger mine cars both for handling material from loading point to shaft bottom or surface, and for shuttle service. Saving of time in car changing is obvious if larger cars are used. In addition, shorter trips result where car transportation is from face to opening without transfer. This also brings about side-track and equipment savings. Track shuttle service, using large automatic-dump cars (10 tons) between loading machines and trip loading point, has been a satisfactory solution for the operator who mechanizes a working mine regularly equipped with a large number of small mine cars. This development in track shuttle haulage, has made track installation and maintenance increasingly important, requiring closer supervision.

Jan 1, 1942

By R. N. Browne

As man searches unexplored horizons for new and economic industry, he must be constantly and acutely aware of the presence or absence of that precious commodity without which Industry, indeed Man himself, could not survive --W ATE R. The water requirements of the world today are magnanimous, considering that in 1960 the estimated consumption in the united States was over 300 billion GPD (1) or more than 1,700 GPD per person (5). The magnitude of the problem can be visualized as one considers that three times this quantity of water will be required in the united States by the year 2 000, when the dependable supplies of water are estimated to be only two-thirds of that required(2). How, then, can we continue to wreak such havoc on that life-sustaining substance -W ATE R? It is necessary, indeed mandatory, that those engaged in the Engineering profession consider it their moral obligation, not only to conserve the quantity of water which their conceived projects may require, but also to treat the effluent in order that the eutro-phication of natural water courses not be abnormally accelerated. The International Nickel Company of Canada Limited consumes some 33-1/2 millions of gallons of fresh water daily at its nine town-sites, fourteen mines and eight plants throughout the Sudbury district of Ontario. The present daily reuse of water exceeds 100 millions of gallons in the same area. It is noteworthy to mention that the milling rate has increased from 46,000 to 70,000 tons per day during the past five years, with no increase in water consumption. In fact, there has been a reduction in fresh water requirements.

Jan 1, 1971

By T. B. Colman

Paper presented at the MEP '89 conference held in Madrid, 13-15 November 1989. Britain has sustained an important metalliferous mining industry over many centuries. Recently, new geological concepts and exploration techniques have indicated that there is considerable potential for the discovery of a variety of deposit styles, often in previously neglected areas. The recent discoveries at Aberfeldy (Ba-Zn-Pb), Gairloch (Cu-Zn) and Cononish (Au-Ag)in Scotland and Curraghinalt (Au-Ag) and Lack (Au-Ag-Pb) in Northern Ireland are illustrations of this potential. Some of the prospective areas for future exploration are described and an indication is given of the legislative framework within which mineral exploration and development are carried out

Jan 1, 1991

By Chas. H. Behre

MINING geology, both theoretical and practical, continued to make noteworthy progress during 1938. Mining companies generally, stimulated especially by the improvement in economic conditions during the latter part of the year, extended their workings and developed new ore bodies. Federal and state surveys expanded their search for favorable localities and actual ore bodies, with corresponding enlargement of regional knowledge. Theoretical investigations covered geochemistry of ore deposition, structural control of mineralization, and mineralogy of the ores (chiefly aided by the microscope). More geochemical work is greatly needed: ore searching is still too purely empirical, based on features that have been recognized else- where. Thus, clearer understanding of the conditions essential to transportation of metal salts is needed. Jean Verhogen has suggested that solubilities

Jan 1, 1939

By Terry Owen

Business development process. Throughout Cyprus Amax's early months in Russia, the company stayed focused on what was needed from a deposit for economic success. Cyprus Amax's reason for success in Russia is that all involved - its Russian partners, the workforce and expatriates - provided a focused effort that served the project as it worked through the tender process and the Russian regulations. The company developed an understanding of the regulatory process by working with solid, ethical partners. Infused into the Kubaka management structure were Russians with the knowledge to facilitate the process and a professional group of expatriates. Developing credibility and a solid rapport with the Russian mining authority was critical to the success of this venture. Identifying and gaining the trust of key Russian individuals was also critical during the early stages. Gaining their trust and building credibility was part of the process. These key Russians were brought to the United States to visit existing Cyprus Amax mines. These efforts proved valuable in building an understanding with the Russians about the kind of company Cyprus Amax is and the kind of efficient operations that it can run. This was a learning process for all parties. Fortunately, the company was dealing with intelligent and educated people.

Jan 1, 1997

By Frank G. Snyder

The Precambrian of Midcontinent United States includes a metamorphic belt of probable Middle Precambrian age, a belt of Keweenawan volcanics and sediments, and widespread igneous activity that extended from Iowa to Texas. Most of the present structural configuration of the Midcontinent was developed by epeirogenic movements during the Paleozoic. The dominant elements are basins and arches. Three major metallogenic provinces occur in the Midcontinent. They include the Missouri Precambrian iron ores, the Lake Superior copper ores, and the Mississippi Valley lead-zincbarite- fluorite deposits. Several large iron deposits, occurring in rhyolite and andesite host rocks, are known. Both discordant massive bodies and replacement- type bodies occur. The iron deposits are believed to have been formed during the period of igneous activity. They are essentially the same age as the volcanics and older than the granites that intrude the volcanics. The Lake Superior copper ores include two established districts, the Keweenawan district and White Pine, and the copper-nickel deposits in the Duluth gabbro. The lead-zinc-barite-fluorite deposits include four major districts, Southeast Missouri, Upper Mississippi Valley, Tri-State, and Illinois-Kentucky, and at least eight minor districts. Ore may occur in stratiform deposits and in veins. The major districts all contain stratiform deposits, but several have produced appreciable quantities of vein ore. Only vein deposits are known in some of the smaller districts. The major features of all districts can be catalogued in terms of host rocks, structural patterns of districts, types of ore-bearing structures, and mineralogical characteristics. From these features, a Mississippi Valley type ore body, in its type area, can be defined.

Jan 1, 1968

By J. P. Carson

(Read at the Wilkes-Barre Meeting, May, 1877.) THE works of the Tula Iron Company are in the Republic of Mexico, State of Jalisco, twenty-eight leagues southwest of Guadal¬ajara, ten leagues northwest of the town of Sayula, through which passes the projected line of the Mexican National Railroad. Its geographical position would be about: latitude, 20° 10' N., longi¬tude, 4° 35' W. of Mexico City. The surrounding country is a roll¬ing plateau, 6000 feet above the sea, enjoying the most magnificent climate in the world, the average temperature being about 70°. The works were commenced in 1850 by a company with very small capital, having not the least idea of the undertaking. They soon fell into the hands of the money-lenders, and after changing

Jan 1, 1878

By Stephan Großwig, Karolina Nycz, Arne Kindler

"Commonly used anchor monitoring systems are mainly based on the use of anchor force meters. However, experience shows that the reliability of the display of force meters lowers over time. Other measurement and test methods like for example fibre bragg grating method require a comparison with an unloaded optical fibre and give only selective information about the bearing behavior. Moreover the obtained information has to be interpreted. In the following article, first measuring results of an anchor monitoring system based on measurements with optical fibre are presented. The new monitoring system is based on the Rayleigh technology and was used to test the load bearing behavior of the anchor grout body as well as for the evaluation of the grout body condition in concrete-damaging groundwater.INTRODUCTIONThe first fibre optic sensors came onto the market about three decades ago. Initially used as special solutions only in selected cases, now they have found use in almost all areas of technology, especially in areas, where electrical sensor systems reach their limits. The first application examples of spatially resolved fibre-optic sensors in the field of geotechnics have been in existence since the mid-1990s, in projects such as the assessment of the of radioactive repository location sites (Hurtig et al. 1994), for the monitoring of landfill sealing systems (Hurtig et al. 1995) or within the framework of the rehabilitation of mountain farming landscapes (Schreck et al. 1998).The company's first own works in the field of glass fibre measurement technology have been in existence since 1993. The first carried out projects were a monitoring at the Edertalsperre (Dietz et al. 2001), a monitoring with glass fibre tendon at a flood bridge in Carinthia as well as monitoring within the framework of the Storebælt crossing. In all cases, the structure was permanently monitored by means of individual-point measurements. Since 1993 various fibre-optic sensor solutions for geotechnical applications have been introduced to the market (Voet, Glötzl 1996, Hurtig et al. 1994)."

Jan 1, 2017