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By Thomas P. Bispham

INTRODUCTION From the lender's point of view, the greatest period of risk in a project financing occurs during the construction phase. Therefore, most projects are supported during this phase by completion guarantees supplied by some credit-worthy entity; for example, the project sponsors in the case of a joint venture, such as that of W.R. Grace, Hanna Mining, and Liberty Capital; or by a strong contract with a utility or foreign importer/investor, such as the way North American Coal Corporation has structured many of its transactions. THE PROJECT LOAN REQUEST A project financing is a more complex form of term loan than one using an ongoing corporation's balance sheet as a credit base and, therefore, a potential lender will subject the loan request to a more rigorous analysis. To support this effort, the financial institution will require a more detailed information memorandum to evaluate the credit and technical risks of a project - especially since much of the necessary information is not otherwise available. (See also Gibbs and Sroka paper above in this Chapter) A well-prepared information memorandum will impress prospective lenders with the planning ability and general competence of management. Also, the process of preparing the memorandum will help management understand the true extent of the opportunities and limitations of its venture. Appendix A outlines the topics which comprise a complete information memorandum for a loan request. Of some interest to those seeking to sell a currently-operating mining venture, a similar information memorandum should be prepared i.e., covering the same topics discussed here, for the investment banker to use with potential purchasers. For that purpose, though, one might not want to prepare quite as much detail as for a lender. Appendix B outlines the elements of a reserve evaluation and feasibility study, often called the "Bankable Document." Usually, these studies are prepared by independent engineering consultants for use by potential borrowers and sellers. (Potential purchasers will often contract for a similar study for their use in evaluating an acquisition.) ELEMENTS OF A LOAN INFORMATION MEMORANDUM 1. Outline: The information memorandum should begin with a one-page outline covering such topics as: a. The borrower's name, address, and phone number. b. Principal contact at the borrower. c. Amount of the proposed financing. d. Desired pricing and structure of the proposed financing. This should include a description of the amount and source of equity in the proposed financing. e. Use of the proceeds and timing. 2. Summary: The most important information contained in the memorandum should be summarized in two pages. Note - If the borrower is a recently-formed single-purpose company, then elements 3, 4, and 5 will apply to the guarantors of completion and to the project sponsors. 3. The Borrower: This section is a brief biography of the borrower including such topics as date and state of incorporation, founder(s), lines of business, etc. 4. Capitalization: The borrower's current debt and equity position, including leases and trade debt, with amounts, terms, names, and addresses enumerated. Equity owners, and percentage ownership, should be identified. 5. Historical Financial Statements: If available, a minimum of five year's worth of complete historical financial statements

Jan 1, 1985

By Stanley Herold

A FEW notes on the occurrence and significance of mud volcanoes in Colombia may be of interest at the present time, owing to the renewed activity in geological exploration of, the coastal regions bordering the Caribbean Sea. The best-known volcanoes are found a few miles from the seacoast. One is situated to the south of Puerto Colombia; the second, to the east: of Cartagena near the village of Turbaco; and the third, near the village of Puerto Escondido south of the Sinu River. Others. are reported in more inaccessible localities. Usually they stand 2 1/2 or 3 ft. (0.762 or 0.914 m.) above the surrounding ground at the crater, though several craters from 10 to 20 ft. (3.04 to 6.09 m.,) apart will often build up an extensive mound at low gradient. The shallow mound may cover 1/2 or 3/4 acre (0.2 to 0.3 ha.) with an elevation of 12 or 15 ft. (3.65 or 4.57 m.) at the center. The craters are formed of hardened blue clay; the inside diameters vary from 14 to 24 in. (35.56 to 60.96 cm.). The rim is continuous, except on one side where there is usually a cut 3 or 4 in. deep, thus allowing an overflow. The craters are filled to the rim-cut- with a thick mixture of blue clay mud and water, which is kept in agitation by escaping gas. Fig. 1 shows the bubble in the act of bursting and Fig. 2 the appearance of the surface of the viscous fluid a second or so later. The frequency of the explosions is determined by the weight of the column of fluid in the neck of the volcano, consequently, such explosions are not synchronous in a group of craters. Ordinarily, there are two or three explosions in about 3' minutes. The supply of gas is small but steady and sufficient pressure must accumulate before the bubble can enter the column of fluid. The water is derived from the surface and enters the sedimentary strata not` far distant from the volcano. During long dry seasons, as the supply of water fails the volcano dries and geyser action ceases.

Jan 7, 1919

By R. J. Essex

In support of the Conceptual Design of a Nuclear Waste Repository in Salt, a confined core pillar design method developed by others was reviewed. The method, which was developed for applications in coal, represents the confined strength of the pillar material in terms of a linear failure criterion. However, triaxial compression strength tests conducted on salt samples indicate that a non-linear strength criterion is more appropriate for salt. The rationale behind the confined core method is reviewed. A rederivation of the confined core method is then presented that incorporates a non-linear strength criterion. Benefits of the modified method are that the strength of the confined pillar core can be more accurately represented, and that two contributors of pillar strength, rather than one, can be addressed.

Jan 1, 1988

By Dhanvin B. Mehta

Pile testing is generally understood as static load test. It is our common experience that for high capacity, large diameter bored piles, static testing is expensive and time consuming. It is practically impossible to test large number of piles by traditional testing methods. The escalating cost in carrying out a static load test, as well as incomplete information derived therefrom compelled researchers in United States to look for an alternative method of testing for both bored and driven piles. The original research work was carried out at Case Western Reserve University in early 70's, under the funding of Federal Highway Administration as well as several State Depts. of transportation in United States. The outcome of the research was the development of a state of art field computer for capacity determination, based onOne Dimensional Wave Mechanics.

Jan 1, 1996

By G. Brofas

The reforestation potential of bauxite mining spoils by seeding was examined on this research work. The experimental plot was established on the location Strofi Koukouvista 5, Ghiona Mountain. The experiment consists of 3 species (Pinus nigra, Robinia pseudoacacia, and Spartium junceum) with 4 sowing treatments and 2 sowing seasons (autumn and spring). The treatments were: (1) broadcasting; (2) broadcasting and soil cultivation; (3) broadcasting with straw mulching and straw binding with asphalt emulsion; (4) broadcasting with soil cultivation, straw mulching and straw binding with asphalt emulsion. Third year results show that spring is better than autumn as a sowing season. Only the Spartium junceum species were found to germinate and survive in autumn. The results are better for all the species on the spring seeding. The most effective treatments for Robinia pseudoacacia and Pinus nigra are 3 and 4 while for the Spartium junceum even simple broadcasting shows good results although the best ones are achieved with treatments 2, 3 and 4. The paper?s findings show that reforestation by sowing could be effective for some species but further experimentation with other species is recommended. Concerning Robinia pseudoacacia, testing of different seed preparation treatments is needed in order to maximize the germination of seeds.

Jan 1, 2002

By George S. Koch

The distribution of gold in part of the Getchell mine, Humboldt County, Nev., is presented through the statistical analysis of 956 assays of rock cuttings from wagon-drill holes. Two methods to predict grade in undeveloped parts of the ore body are evaluated, and the possibility of sampling bias is tested. The distribution of gold is compared with that in three other Nevada gold deposits of the same type characterized by gold particles mostly of submicron size associated with carbonaceous rocks, and also with that in deposits with coarse-grained gold. Usually, fewer samples of a given type are required to make a satisfactory grade estimate for submicron deposits than for coarse-grained deposits. The economic consequence is that submicron gold deposits are likely to be less expensive to sample and evaluate than coarse-grained deposits.

Jan 1, 1970

By Y. C. Kim, M Nataraja, J. T. Buckley, D. H. Tiktinsk

The Nuclear Waste Policy Act of 1982 (NWPA) assigns the U.S. Department of Energy (DOE) the responsibi1it.y of locating, constructing. operating, closing and decommissioning a nuclear waste repository. Prior to submittal of a licensee application to the U. S. Nuclear Regulatory Commission, the DOE is required by 10 CFR part 60 to conduct a program of site characterization for the site to be described in such application. Site characterization includes an exploration and research program in the field and laboratory to determine the geologic conditions and ranges of those parameters which are necessary for determining the suitabi1it.y of the site as a geologic repository. The information thus collected should be able to establish with reasonable assurance that the public and environment will be adequately protected from the hazards associated with a repository at the site. This paper demonstrates by example a geostatistical approach which, on the basis of the existing limited data base, can be used to evaluate (1) whether existing information on a certain parameter is adequate to be considered representative. (2) if additional information is required, where should the additional sampling or testing be performed, and (3) whether the new1.y acquired data along with the existing information constitute representative data.

Jan 1, 1986

By H. E. Powell, A. A. Cochran, R. E. Coleman

Infrared spectroscopy, employing the internal reflection method in conjunction with solvent extraction techniques, was used to study surface reactions between aqueous potassium ethyl xanthate and both sphalerite and precipitated zinc sulfide, each activated with aqueous copper sulfate. It was determined that reactions occurring on the sphalerite and zinc sulfide surfaces produce the reaction products ethyl dixanthogen and cuprous ethyl xanthate, some of which are adsorbed on the mineral surfaces. As the pH of the xanthate solution increased from 5.6 to 11.0, the amount of cuprous ethyl xanthate on powdered sphalerite surfaces decreased and the amount of ethyl dixanthogen first increased and then decreased. It is generally accepted that the collector potassium ethyl xanthate will not float the mineral sphalerite (ZnS). However, Gaudin1 showed that sphalerite readily floats if activated with certain metal cations before exposure to the xanthate. Copper sulfate (CuSO4) was found to be the best activator for sphalerite. The over-all flotation reagent reaction, as given by Gaudin,3 is as follows: While this is the over-all reaction, the exact mechanism of the reaction and the intermediate compounds that may be formed are not yet known with certainty. Important work has been done in Russia by Plaksin

Jan 1, 1968

By Keith Sutherland

AEROFLOAT 25 is a complex mixture of free cresylic acid with aryl substituted dithiophosphoric acids, sulphides, disulphides, etc. Its complete composition has not been published by the makers or patentees. It is prepared1 by the reaction between phosphorus pentasulphide and carefully selected cresylic acid. We have been informed that this acid contains no phenol and very little cresol, and that it is rich in the higher alkyl phenols, particularly the xylenols. The reaction between a phenol ROH and phosphorus pentasulphide may produce compounds of the following type:2 (i) RO S P Diaryldithiophosphoric acids RO SH (ii) R-SH Thiophenolic compounds (iii) R-S-R Diaryl sulphides (iv) R-S-S-R Diaryl disulphides (v) Substituted thianthren compounds Except for the simplest type, the thiophenols (ii), the boiling points of these compounds lie above 300° C. The amounts of the thianthren compounds formed from the five xylenols (if all these are present) will vary according to the position of the substituents. In an attempt to ascertain something of the nature of the reagent, fractional distillation under atmospheric pressure was undertaken. At the outset, hydrogen sulphide was freely evolved, and-particularly below 200° C.-the fractions had the strong odor characteristic of the

Jan 1, 1939

By Yao S, Wang P, Zhang C

The Zhilingtou Au-Ag deposit is situated in the eastern part of the complexly deformed and metamorphosed South China Caledonian Fold Belt. It consists of seven orebodies that are almost exclusively hosted by biotite plagioclase gneiss of the Precambrian Chencai Group. They form an apparent en echelon pattern in both cross-section and level plan. Three different ore types, based on mineralization textures, have been recognized within the Zhilingtou lode. These are Au-Ag-rich quartz veins, Au and Ag-bearing silicified rocks and Au-Ag-containing altered rocks with quartz stockworks. The mineralization is principally composed of electrum, argentite, pyrite and minor sphalerite, galena as well as traces of hessite and chalcopyrite plus a gangue assemblage of quartz, rhodonite, sericite and chlorite. Fluid inclusions related to Au-Ag mineralization yield a wide range of homogenization temperatures from 110 to 447¦C, with two distinctive peak values at 250-300¦C and 350-400¦C respectively. S30Si values of quartz veins and silicification from the three stages of mineralization range from -0.1 to -0.4%o. The mineralization at Zhilingtou is interpreted as forming by recirculated meteoric water extracting ore-forming elements from metamorphic rocks due to Mesozoic volcano-magmatic activity.

Jan 1, 1995

By C. A. Petch

Abstract - The High Lake polymetallic deposit is located in the northern Slave province, 40 km south of Coronation Gulf, Nunavut. The main zone, the AB zone, hosts an estimated resource of 3.56 Mt grading 5.0% copper, 1.1% zinc, 0.06% lead, 1.7 g/t gold, and 18.2 g/t silver. Archean felsic metavolcanic and metavolcaniclastic rocks are the dominant rock type and are associated with lesser mafic metavolcanic and carbonate-rich metasedimentary rocks. The sequence strikes north-northeast, dips steeply to the west, and is truncated to the west by a large granodioritic intrusion. The mineralization at the AB zone is comprised of massive and stringer chalcopyrite-sphalerite-pyrrhotitepyrite± galena. At the core of the mineralized zone, intensely chlorite-altered rocks are locally metamorphosed to form distinctive zones of anthophyllite-magnetite-cordierite-altered rock. Peripheral to the mineralized core, alteration consists of sericitization, silicification, and weaker chloritization. Primary morphology and facing direction of the zone are difficult to interpret in part due to poor primary metal zonation of the deposit. However, the irregular shape of the mineralized zone and the erratic zones of zinc enrichment at the fringes are consistent with the interpretation that the zone was formed by the replacement of a porous volcaniclastic pile.

Jan 1, 2004

By Spencer P. A

Bacterial oxidation, previously known as bacterial leaching or bio-leaching, has been applied at laboratory and pilot plant scale to many refractory ores and concentrates around the world. The most common bacterial culture used in this process has been Thiobacillus sp. This organism is limited in commercial application, especially in Australia for several reasons. The optimum operating temperature range for this culture is 30¦C to 40¦C and high levels of some metals such as arsenic, silver, and copper have toxic effects on the culture thus reducing its effectiveness. The culture employed by BacTech (Australia) Pty lid is a moderately thermophilic culture which operates in a temperature range of 40¦C to 55¦C (which is more amenable to the Australian climate) and with higher resistance levels to metals often found to be toxic to Thiobacillus sp..

Jan 1, 1991

By David R. Hanson

Experimental work performed by the Bureau of Mines in a laboratory environment has shown that the formation of failure zones within certain rock types is accompanied by the emission of significant amounts of radiofrequency (RF) electromagnetic (EM) energy. This radiation was detected using nonresonant, "electrically short," broad-band antennas. Rock types for which emission was observed include granite, quartzite, and taconite; sandstone and marble did not emit measurable radiation. Amplitude spectra of the radiation showed the energy to be concentrated between 10 and 40 kilohertz. These data indicate that emission is directional, but this has not yet been proven. In addition, amplitude of RF emission increases with increasing crack size. Since emission was observed only for brittle quartz-bearing rocks, it appears the formation of piezoelectric fields is a necessary condition for RF radiation. Plausible mechanisms for emission include rapid decay of piezoelectric fields accompanying the sudden stress release at failure and/or the acceleration of an "exoelectron plasma" through the intense local piezoelectric fields. Since emission appears to increase with the scale of failure, and since antennas do not need to be coupled directly to rock surfaces as with conventional geophones, the possibility of developing a portable system to monitor seismically active areas exists.

Jan 1, 1981

This Bulletin will be received by members at about the time the Colorado Meeting is in session. A general account, of the meeting will be printed in the October Bulletin, but it will not be practicable to publish the discussion of the papers at the Colorado Meeting until the Nov-vember Bulletin.

Jan 9, 1918

By John R. Schuring, Walter Konon

The 2.0 in./sec. peak particle velocity criterion traditionally used to protect structures from blast induced vibration damage is non-conservative for landmark structures. Various factors which must be considered in establishing vibration criteria for landmark structures are discussed. Existing criteria by past investigators for this class of structure are presented.

Jan 1, 1984

By W. P. Blake

Forging under the hydraulic press, which was introduced by Haswell in the year 1861, at the machine shops of the Imperial State Railway Company of Austria, has since been greatly improved, so that at the present time there are very few parts of machines which cannot be produced in this way, and at no greater cost than iron castings. The process is now used at Vienna chiefly for such parts of locomotives as cross-heads, link-bars, axle-box frames, etc., especially where the form is intricate, and there are many angles and projections. These objects weigh from 50 to 150 lb. or more, and it is claimed for them that they are not only much cheaper than ordinary forgings, but are much more regular in form and stronger. The results which Mr. Haswell has attained, after years of patient experimenting, were well shown in the Austrian Department of the Vienna Exhibition by a collection of the pressed objects in iron and steel, just as they left the moulds, with some of them cut asunder longitudinally and the surfaces etched, so as to show the internal structure or direction of the grain. Through the courtesy of Mr. Haswell and his son I saw the hydraulic presses in full operation at the works, drawing down large Bessemer ingots, cutting them up into blocks of convenient size, and forming various park of locomotives. They have two large hydraulic presses in use; the largest, with a piston 24 inches diameter, gives 1200 tons pressure, and the second, with an 18-inch piston, gives 600 tons pressure. The pressure in the pumps is 600 atmospheres. The action is vertical; the piston descends upon the work, and for forging ingots is armed with a hammer-like head. An ingot of No. 7 soft Bessemer steel, which was forged in my presence, weighed 2030 lbs. One end being placed upon the anvil, the piston is brought slowly down and crowded into the mass as if it were putty or dough, forcing it each way, but chiefly in the direction of the length of the ingot, this being the narrowest section of the anvil and hammer. The piston is then raised and the ingot is moved forward for a second squeeze, and so on, until the first half of the ingot has been reduced in thickness, when it is turned on edge and the operation is repeated. The ingot is then turned end for end and forged until the whole length has been re-

By W. P. Blake

FORGING under the hydraulic press, which was introduced by Haswell in the year 1861, at the machine shops of the Imperial State Railway Company of Austria, has since been greatly improved, so that at the present time there are very few parts of machines which cannot be produced in this way, and at no greater cost than iron castings. The process is now used at Vienna chiefly for such parts of locomotives as cross-heads, link-bars, axle-box frames, etc., especially where the form is intricate, and there are many angles and projections. These objects weigh from 50 to 150 lb. or more, and it is claimed for them that they are not only much cheaper than ordinary forgings, but are much more regular in form and stronger. The results which Mr. Haswell has attained, after years of patient experimenting, were well shown in the Austrian Department of the Vienna Exhibition by a collection of the pressed objects in iron and steel, just as they left the moulds, with some of them cut asunder longitudinally and the surfaces etched, so as to show the internal structure or direction of the grain. Through the courtesy of Mr. Haswell and his son I saw the hydraulic presses in full operation at the works, drawing down large Bessemer ingots, cutting them up into blocks of convenient size, and forming various parts of locomotives. They have two large hydraulic presses in use; the largest, with a piston 24 inches diameter, gives 1200 tons pressure, and the second, with an 18-inch piston, gives 600 tons pressure. The pressure in the pumps is 600 atmospheres. The action is vertical ; the piston descends upon the work, and for forging ingots is armed with a hammer-like head. An ingot of No. 7 soft Bessemer steel, which was forged in my presence, weighed 2030 lbs. One end being placed upon the anvil, the piston is brought slowly down and crowded into the mass as if it were putty or dough, forcing it each way, but chiefly in the direction of the length of the ingot, this being the narrowest section of the anvil and hammer. The piston is then raised and the ingot is moved forward for a second squeeze, and so on, until the first half of the ingot has been reduced in thickness, when it is turned on edge and the operation is repeated. The ingot is then turned end for end and forged until the whole length has been re-

Jan 1, 1874

By Walter Nummela

This acronym may be readily deciphered, and it represents the programming theme for the SME Sessions at the Centennial Meeting of AIME in New York in 1971. The Concentration Committee thus charged out to grab, to induce, and to accept volunteered papers within that framework. The program for the Concentration sessions is in and hopefully all deadlines will be met as specified in the instructions to authors. Without spelling out what is to be seen and heard in New York, how well did the Committee satisfy the theme described in the title? Perhaps it was by virtue of the international makeup of the Committee (Member Dan Pickett is with the Mines Branch in Ottawa) that an international slate of authors was assured. Four countries are to be represented-Bolivia, Canada, Italy, and the United States.

Jan 1, 1970

By C. E. Capes

Reduction in the quality of resources and attendant increase in the quantities of fines to be processed present a major economic and environmental challenge for resource - based industries. It is becoming evident that agglomeration by immiscible liquid wetting will play a significant role in the treatment of these fines. Liquid phase agglomeration can be adapted to separate solids or liquids in highly divided form from liquid suspensions and emulsions. Diverse opportunities in coal fines recovery, novel fuels technologies and oily waste water treatment are cited here. The oil agglomeration of extreme fines from coal tailings, with consequent dramatic reduction in refuse for disposal, is now a commercial reality. It is suggested that this approach can serve as a prototype for the processing of extreme fines in an economical and environment ally sound manner.

Jan 1, 1989

Mining and reclamation procedures that meet the requirements of SMCRA are illustrated on pages 8 and 9 for each of the three major surface coal mining methods -- area mining, contour mining, and mountaintop removal mining. The three methods involve the same basic steps: clearing the land of trees and other vegetation, removing topsoil and overburden, mining the coal, and reclaiming the land. Although all three methods would not usually occur on any single site, the illustration facilitates comparison of mining and reclamation methods and aids basic understanding of the reclamation processes that take place under SMCRA. Area Mining The area mining method is commonly used to mine coal in the flat to moderately rolling terrain found principally in the western and midwestern states. After the overburden is excavated down to a coal seam, the mining area is enlarged horizontally to expose more coal for removal. In the West, where coal seams are commonly 10 to 20 feet thick (and range up to 100 feet thick in the Powder River Basin of Wyoming), the life of some mines maybe more than 50 years. In the Midwest, coal seams are typically 3 to 7 feet thick and 75 to 100 feet below the surface. Because of the large expanse of area mines and their relatively unrestricted sites, enormous equipment is used to remove overburden and reconstruct the land. The area mining operation in the illustration is on land that was formerly used for farming. The drawing shows that the agricultural use is being reestablished immediately following reclamation. Mining is proceeding across the land toward the left side of the site. The initial excavation was made far enough away from the stream along the right edge of the site to prevent damage to the water supply. The coal under most of the site has been removed, and reclamation has been completed on some of the land. For example, some of the cattle in the foreground and those in the feedlot behind the silo are grazing on reclaimed land that has been mined. At the far left of the illustration, topsoil from the unmined area is being removed by scrapers, transported across the area of active mining, and immediately spread on the land on the right, which is being reclaimed. (Reclamation of mined land as soon as practical, as required by the Act, is called contemporaneous reclamation.) A

Jan 1, 1992