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By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By M. Tangstad

Keywords: Pyrometallurgy, ROMA, Norway, furnace, fines The ROMA project is a competence project on optimizing the usage of raw materials and energy in the ferromanganese, silicon, and aluminium industries. One of the items investigated in this project is the effect of fines on the furnace, and the usage of agglomerates versus lumpy ore. From lab-scale experiments it is shown, that for the charge to agglomerate in the furnace, the charge has to be exposed to a temperature higher than about 1200°C, independent of fines content. The fines less than 1 mm also showed higher agglomeration properties, compared to 2?4 mm, which showed no agglomeration property at all. The properties of agglomerates are very dependent on the pre-treatment of the agglomerate. Sinter and pellets, which have been heated to high temperatures, show a better strength, but also a lower CO reactivity. Sinter also shows a lower melting temperature compared to the ore.

Jan 1, 2011

By A. Plumtree

The morphology of environmentally assisted cracks in stressed pipeline steel has been investigated. For a dilute and neutral solution (NS4) simulating ground water in contact with the steel, semi-elliptical cracks grow faster on the surface (2c) than in the depth (a), hence, the aspect ratio (a/c) decreases. This is explained using a deterministic concept since corrosion is dominant and the primary constraint is the conservation of charge. By contrast, when mechanistic conditions prevail, significant growth occurs in the depth. When underloads are imposed in the loading history, temporary accelerations in crack growth occur because corrosion rather than mechanical effects become dominant.

Jan 1, 2005

By Dru Brown

More than 150 Mt (165 million st) of material crashed down at the Bingham Canyon Mine (Rio Tinto/Kennecott Utah Copper) near Salt Lake City, UT on April 10, 2013. The mine, one of the largest openpit mines in the world, ceased operations and evacuated personnel prior to the slide when it was discovered that material was moving at a rate of 5 cm/d (2 in./day). The slide destroyed the mine?s visitor?s center, buried several pieces of large mining equipment and severely hampered production. The Kennecott Utah Copper Corp. immediately began to assess the damage and look for options to reestablish operations. The highly unstable ground ? emphasized by another minor slide in September 2013 ? makes any cleanup efforts extremely dangerous. With terrain too dangerous for human operators, Kennecott was forced to look for alternatives that would help the company work on the treacherous slopes of the landslide while also keeping personnel safe.

Jan 1, 2014

By L. A. Roe

Magnetic separation of iron ores is one of the fastest-growing segments of the minerals beneficiation industry. The tonnage of taconite ores processed annually by magnetic separation will, in a few years, reach 100 million. Magnetic separation occupies an attractive position in the field of ore beneficiation. It is a simple yet effective method, used for some 150 years and steadily growing more important. This type of beneficiation orginated in 1792, when William Ful-larton was issued a British patent covering the separation of iron ore by magnetic attraction. What is magnetism, and why are some materials capable of being magnetized and others not The study involves many unknowns, and even a partial answer to these questions would be a dissertation in solid state physics and perhaps other fields of science. But the last two decades have revealed basic facts as to why certain materials are magnetic and what happens to them when they are magnetized. Some of the newer studies in solid state physics have developed a theory that can be applied to studies of magnetism. It is claimed that magnetism stems fundamentally from the spin of electrons in atoms that tend to go in pairs, spinning in opposite directions. The atom as a whole can act as a magnet only when there is an imbalance of electronic spin. Whenever an atom has an odd number of electrons, therefore, this imbalance exists. This neutralizing effect explains why a piece of material that contains atomic magnets is not necessarily magnetic. The physicists tell us that iron is composed of many small magnetized regions called domains, which consist individually of millions of atoms. The piece of iron becomes magnetized when an external force lines up these domains in the same direction. Fundamental data developed by physicists working in fields far removed from minerals beneficiation are now available for developing better magnetic separators for ore processing. More Data Needed on Magnetic Properties of Minerals: There is less information on magnetic properties of minerals than there is for certain aspects of magnetic separator design. When the data on magnetic properties is available, it is often directed toward the study of powders for tape recorders and other highly scientific endeavors that are of little use to the beneficiation engineer. W. R. Crane's table of tractive forces, published in 1902, is still a guide in the study of magnetic minerals. Bits of other information regarding electrostatic conductivity, dielectric constant values, and permeability of various minerals have also appeared but are of small practical value in magnetic separation of ore. It is extremely important to obtain pure mineral specimens for making investigations and to record results that may be of use in studies of magnetic processes. Reference to the large volume of data developed by those concerned with analysis and design of permanent magnets soon reveals that these people have extensively evaluated the effect of various impurities on magnetic properties. Much of the science of the ferrite industry is based upon spinel-type structures which are varied by substitution of selected elements or even subtraction of elements, leaving vacant sites in the space lattice. Magnetic separators are used to beneficiate a wide variety of industrial minerals. In this application the relatively large volumes of nonmagnetics are usually the commercial products. The amount of mag-

Jan 1, 1959

By Daniel H. Isreal

Because the federal government owns and controls nearly 80% of the most valuable oil shale reserves in the West, it is inevitable that federal leasing and siting will play a prominent role in development of an oil shale industry during the 1980s. Also, because of recent enactment of the Synthetic Fuels Corp. authorizing up to $88 billion in loan and price guarantees-federal financing will provide the critical incentive to permit private investment in a still infant industry.

Jan 1, 1981

By G. J. Hearn

between particles in the classifying region is then

Apr 1, 1995

By Thomas J. Neil, O&apos

Mine land reclamation is a comparatively new science-Although some mining companies point with pride to reclamation efforts of 20 to 30 years ago these were the exception rather than the rule. In the last ten years the skyrocket of environmental awareness has been awesome to behold. Future shock gripped mine operators everywhere as they struggled to cope with rapidly changing and escalating demands. The initial result was that two divergent points of view became dominant. Environmentalists said, "Put it back the way it was," and the miners responded, "Let's grow some weeds and hide it." These views are not surprising as they represent rather obvious alternative responses, albeit at opposite ends of the decision spectrum. The former case has prevailed more often than the latter, as most state and federal legislation -- both proposed and passed -- has required drastic alteration of the post-mining landscape so that evidence of prior mining is largely obliterated. An exception to this has been in porphyry copper country where the infrequent abandonment of mines has given emphasis to the second philosophy -establishing vegetative cover on mine waste materials. Now, it should come as no revelation to most mining people that both of these approaches to mine reclamation suffer from serious drawbacks when applied to open pit copper mines. First, whereas waste dumps and tailings dams can be vegetated with some aesthetic benefit, the massive presence of copper mining operations remains very prominent. It is difficult to conceal an open pit copper mine. Second, returning open pit copper mines lands to their original topography and productivity is simply not a reasonable alternative.

Jan 1, 1976

Quickly and cheaply consolidate underground slimes to facilitate their use as backfill and permit their easy handling for other reasons. Approach: The slurry containing slimes is pumped into active stopes and electrokinetically dewatered to provide consolidated back fill. How It Works: To densify slimes electro-kinetically two electrodes are placed in the material to be dewatered and densified. Typically, the electrodes are pieces of wire mesh fencing. One is placed on the bottom, and the other is suspended in the slurry near the surface. Figure 1 is a simplified section of a test. A d-c voltage of 100 to 400 volts is applied across the slurry. This causes the solid particles which are in suspension in the water (usually these are negatively charged) to migrate toward the anode; simultaneously, the water moves toward the cathode. Water immediately adjacent to the negatively charged solid particle surfaces contains an excess of dissolved positive ions. When these ions are attracted to the electrode and move towards it, they also exert

Jan 1, 1976

The AusIMM is concerned about the longer tem sustainability of the minerals sector in Australasia. Our contention is that the sustainability of the sector is at risk if we do not:   ò encourage more exploration in Australasia by removing impediments and         increasing incentives; ò fund our university and research centres appropriately to increase both our   prospectivity, and our processing efficiencies; and ò manage our human resources better.   This paper will focus on how we can better manage our human resources to assist in ensuring sustainability of the sector in Australasia .   From a production point of view:   Economic output = f (Land, Labour, Capital, Environment) where Land refers to all of the natural resources used in production. As well as land itself it includes water, forest, fisheries, oil, gas and mineral deposits. Labour refers to the skills and capabilities used by humans in the production process. Capital describes all of the manufactured aids used in the process of production1. The challenge for management is to ensure maximum efficiency and effectiveness of labour in the production process whilst maintaining sustainable development.   The 1992 Rio Summit defined sustainable development as maintaining and enhancing:   ò natural capital û defined as all natural resources, both environmental and   those of traditional economic value; ò manufactured capital û made by human kind, including produced goods,     infrastructure and built environment; ò human capital û defined as the health, well being, intellectual capabilities and   spiritual welfare of individuals; and ò social capital û defined as social relations and consultations within and   between societies, their norms and functionality2.   The minerals sector in Australasia has successfully focused on the technical aspects of each of these components of sustainable development with primary attention applied to natural capital and efficient utilisation of manufactured capital. The technical aspects of human capital and social have also been addressed through an emphasis on occupational health and safety and interaction with local communities however I suggest that, to date, insufficient emphasis has been placed on labour (human capital) to maximise economic output1.   It has become increasingly common practice to identify land as natural capital, labour as human capital and capital as physical capital. That is labour has been treated as a commodity rather than an opportunity to create a comparative advantage and this will be the greatest challenge for mine management to show leadership over the next decade of the 21st Century.   This paper will outline characteristics of the sector which are relevant to the management and utilisation of labour, outline the outcomes of recent AusIMM surveys, review the reasons for the current and future anticipated skills shortages, some innovative responses to the challenges and finally, suggestions on how mine management can show leadership.

Jan 1, 2006

Education for the Mineral Industry in Australia developed in an uncoordinated but effective fashion till the mid 1960's, with recognised quality in graduates, with output matching demand, and with industry needs being fulfilled. Then in the space of a further 20 years, as company structures expanded, as the number, complexity, and costs of mineral projects escalated, as educational facilities, costs and politics increased, as community perceptions and aspirations changed, as government control of minerals and education increased, and as mineral sales cycles and markets fluctuated widely, the very fabric of Australian Mineral Education fell in tatters. Extractive Metallurgy Education suffered most in this collapse, and no compre- hensive remedies have been initiated. We are all the losers. In the 1990's, the extraction of Australian minerals and metals will increase in international significance, and the education of Extractive Metallurgists must meet this need. After examining the current situation, a series of management strategies are proposed to enable Extractive Metallurgical Education to survive and prosper in the next two decades and beyond. These strategic proposals involve industry, the government, the educational bodies, and individuals, in a range of short and long term objectives, policies, and actions.

Jan 1, 1984

By K Ehrig, J Griffith

An extensive suite of elements are routinely assayed on all resource drill core samples to assist in deposit scale resource definition, local mine scale delineation of ore zones, and ore characterisation for the planning and scheduling of mining and processing of ores at Olympic Dam. This paper discusses a deposit scale geochemical relation that can be used by mine geologists to find more high-grade ore at the local mine area scale at Olympic Dam.A 3D grade shell representing 0.8 per cent Cu was created for a mine area using drill hole assay data. This defined the geometry of the ore zone. The Cu-grade shell was then overlain onto the existing resource block model to evaluate the relationships between the Cu-grade shell, copper and other elements. The strongest correlation was between copper and manganese. The block model showed a dramatic decrease in the concentration of manganese just below the below the Cu-grade shell.Several drill holes that intersected the Cu-grade shell were selected to evaluate the copper manganese relation at the drill hole scale. As expected, the individual drill holes displayed a strong inverse relation between copper and manganese. A geochemical footwall was then modelled representing 0.1 wt per cent Mn. Using both the Cu– and Mn-grade shells, several drill holes were designed/drilled and all hit high-grade copper.For the vast majority of the deposit the inverse relation between copper and manganese is valid; however, in areas with intense chlorite alteration (related to amounts of mafic to ultramafic rocks) this relation is not as strong, due to increased manganese in the rock mass. Even though using the copper manganese relation as a drill targeting method was not always as reliable in a few small areas of the deposit, it demonstrates the value of using existing assay data integrated with the resource block model to discover local mine scale geochemical relationships which can be used to more effectively design drill holes to discover high-grade ore at Olympic Dam.CITATION:Griffith, J and Ehrig, K, 2017. Using existing data to improve the delineation of ore at the Olympic Dam Fe-oxide Cu-U-Au-Ag deposit, in Proceedings Tenth International Mining Geology Conference 2017, pp 321–326 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

By Frank Milliken

IN September 1937, the Ohio Copper Co. inaugurated the treatment of its copper-bearing mill tailings at Lark, Utah. These tailings had been accumulated during the regular operation of the Ohio Copper mine and mill over the period 1007 to 1019. Gravity concentration had been employed except for a comparatively short period in 1919, when flotation was used. The ore milled during that period assayed about I per cent Cu. The chief copper mineral, chalcocite, was dissemi-nated in a shattered quartzite, mainly along fracture or cleavage planes. The quartzite gangue was extremely hard and grinding to liberation resulted in excessive sliming of the "sooty" chalcocite, with consequent high tailings losses. Recovery on the seven million tons treated was prob-ably less than 6o per cent of the total copper content. As early as 1918, attempts had been made to sample the dump. In 1928, a com-plete sampling program was undertaken. The sampling consisted of seventy-four 5-in. post auger holes drilled to the full depth of the dump at regular intervals of 250 ft. Each 10-ft. portion thereof com-prised a sample for analysis. Each sample was screened, rolled, divided into three parts, dried and assayed. The reject was retained for testing purposes. From the depth of the auger holes a contour map of the dump was plotted, Fig. 1, which gives percentages of tonnage and copper content.

Jan 1, 1940

"Cash flow modelling during project evaluation is enhanced when probabilistic methods are applied to the inputs. One of the important inputs is the quarterly production profile. Typically, the steady-state production profile provided to project evaluation practitioners is deterministic, with each quarter the same as every other quarter. This is unrealistic as actual production profiles from existing mines exhibit a range or quarter-on-quarter variance. Monte Carlo stochastic simulation of the production profile can be used to provide a range of possible outcomes, but how are these ranges selected? This paper describes the use of quarterly production variance from a large database of mines worldwide as a benchmark to inform the appropriate selection of ranges. The coefficient of variation is used to rank the production from mines, with quartile analysis applied to indicate industry best, median and worst variation. Due diligence of existing mines and evaluation of future production performance can be quantitatively assessed using this approach. Examples of the effect on value are provided.CITATION:Stewart, C A, 2016. Production variance benchmarks and their use in project evaluation and due diligence, in Proceedings Project Evaluation 2016, pp 201–213 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By Sengpasith Houngaloune

Arsenic, which is a toxic and carcinogenic element, causes serious environmental problems throughout the world. It is also known as a major contaminant in the non-ferrous mining and extractive metallurgical industries, thus its disposal is one of the most important environmental issues for the mining and metallurgical industries. In order to ensure a safe disposal environment for the final wastes, stabilization of arsenic has been studied extensively with various approaches. Solidification/stabilization (S/S) represents one of the most effective methods to reduce the availability of arsenic in soil and waste by transforming toxic or potentially hazardous phases into less hazardous ones. Cement based S/S processes could reduce the solubility of arsenic in solid waste, using inorganic binders such as cement, lime, and pozzolanic materials. A new tailings management technique, called cemented paste backfill (CPB), has become widely employed for improving mining techniques and for tailing storage purpose and this technique could also enhance arsenic stabilization, by fixing the contaminants in the binder matrix. Disposal of arsenic in the form of scorodite (FeAsO4?2H2O) has been widely accepted as currently the most suitable method for stabilization and the safest known storage material. The Bio-scorodite process has been reported to be more economic and environmentally friendly method than the chemical crystallization processes. Retention of arsenic by schwertmannite (Fe8O8(OH)6SO4), a metastable ferric oxyhydroxy sulfate mineral, has gained more attention in the recent years. Schwertmannite has a large specific surface area and high capacity to adsorb arsenic in solution. Several researchers have reported that the transformation of schwertmannite to goethite could be retarded by the presence of adsorbed arsenic; therefore schwertmannite might be viable alternative for long-term storage of arsenic. In this paper, various approaches used in arsenic stabilization are reviewed with emphasis on the development in the recent years.

Aug 1, 2013

By Peter Cunningham

Teck Facts and Figures ? Employ more than 14,000 around the world, includes: ? Over 8,600 in Canada (close to 7,800 in British Columbia) ? Close to 2,000 in Chile ? Over 2,700 in Peru ? Approximately 600 in U.S. ? Hundreds more in exploration around the world ? Total capital expenditures ? $1.8 billion for 2012

Aug 1, 2013

By P. G. Rueffel

"Natural deposits of sodium sulphate are the result of normal geological processes. They are world-wide in occurrence and are found in depressions in arid and semi-arid regions. Primarily, the sodium sulphate deposits of the prairies are post-glacial and differ from rock salt deposits, which originated from connate water (fossil sea-water). Sodium sulphate on the Canadian prairies occurs as brine or in beds of intermittent and/or permanent crystals. Most beds are contaminated with various amounts of silt, sand and decayed organic matter. Soluble impurities such as chlorides, carbonates and bicarbonates of sodium and sulphates of magnesium and calcium are leached out from the soil of the surrounding run-off area of the deposits.In this paper, the origin of sodium sulphate, and the physical and chemical aspects related to the development of the Ingebrigt Lake deposit are dealt with. The problems of garnering raw material, and of refining and de-hydration are discussed, with emphasis on the Ingebrigt Lake plant. The utilization of the ""Total Power Concept"" in a sodium sulphate plant is described. The principal uses of sodium sulphate are also discussed."

Jan 1, 1968

By S. Yerel

Block cutter machines have been extensively used in natural stone industry, which is a sub-section of mining industry. In this study, the costs occurring in plate losses cut from Bilecik beige marble with a circular saw block cutter machine have been predicted using Statistical Process Control (SPC) techniques. One of SPC techniques is Shewhart control charts such as mean control chart. These charts have been efficiently at determining the plate losses. The costs occurring in plate losses have been calculated by using the result of Shewhart control chart. Finally, this study presents the necessity and usefulness of SPC techniques in assessment of natural stone industry.

Jan 1, 2010

By G. Harper

"AbstractThe Suetut. Copper deposit, 230 miles northwest of Prince George, B.C., was discovered in August of 1971. Subsequent exploration has included 56,417 feet of surface diamond drilling in 139 holes. The deposit occur in gently dipping volcanic rocks of the Upper Triassic Takla Group, which out crops as rugged mountains.The general Mesozoic sequence comprises some 20,000 feet of green and red basaltic to andesitic rocks. The Lower Formation is characterized by subaqueous basalt, andesite and augite porphyry flows with interbedded breccias. They were rapidly deposited in tectonic depressions of limited extent and steep gradients. Facies changes are abundant. The Middle Formation. consists of volcaniclastic rocks made up of fragments from the underlying formation. Two cycles are discernible , both with basal turbiditic, tuffaceous sandstone and shale units overlain by massive, volcanic conglomerates exhibiting graded and cross bedding. A broader, shallower-water basin is indicated. The top of the uppermost unit was subaerially deposited. The Upper Formation is a variable sequence of volcanic sedimentary rocks. Detritus was supplied from a wide source area and included multiple reworked fragments of the lower formations and material from other rock groups known in the region. Zeolite facies metamorphism is recognized throughout: the entire sequence. Epidote is particularly abundant in the Middle Formation, demonstrating the results of metasomatism.The mineralized zone is approximately concordant with the strata over 100-200 feet of the Middle Formation succession . It lies just below the zone of transition from subaqueous to subaerial deposition in the top unit. Hematite, chalcocite, pyrite, bornite, chalcopyrite and native copper are disseminated throughout all sizes of lithic fragments and matrix. Concentration into the specific zone is believed to be due to upward leaching of copper during lowgrade metamorphic and metasomatic reaction. Precipitation occurred in the zone of hydration characterized by prehnite-pumpellyite below the oxidized subaerial rocks."

Jan 1, 1977

By Ross. C. Barkley

A computer program has been written to simulate ground vibrations induced by multiple-hole surface blasts. The program is an inexpensive and relatively easy to use tool for predicting the principal blast vibration characteristics that determine damage and annoyance potential: peak particle velocity, frequency content and pulse duration. The program generates a complete ground motion history by superposing, at any surface position, the vibrations induced by each individual explosives charge. It requires specification of (hence allows accounting for) the blast geometry, initiation sequence (including random delays), position with respect to blast, pulse characteristics induced by each charge, and propagation laws. A methodology is outlined to determine the necessary variables either on the basis of site investigations (e.g. velocity, attenuation, pulse), or by backcalculation from measured blast vibration records. The latter procedure has been applied to blasts from two coal strip mines. Main difficulties are backcalculating individual pulses, propagation (especially dispersion) parameters and delays. A normal distribution of delays, based on published results, has been shown to influence the results and the response of a single degree of freedom structure significantly. Broadening of the wave types included and additional verifications with field results are required.

Jan 1, 1983