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Financial theory often takes some time to penetrate industry and when it does it can result in a paradigm shift in valuations and mental models. The Black Scholes option valuation was first published in 1973, although the authors were only awarded a Nobel Prize in 1997. The valuation of real options has been applied to the oil and gas industry for some time, however it has only recently been more widely applied to the non-oil, mineral resource sector. The use of real option valuation (ROV) for the valuation of marginal and short mine life resource projects is a more useful valuation tool than the conventional DCF, NPV valuation tool. The application of ROV has major implications for corporate strategy. It generally favours equity over debt funding and non-hedging over hedging. A retrospective assessment of the successful development of the Lennard Shelf Operations demonstrates the concepts of implementing real options and the value destruction of limiting operational flexibility through debt and hedging activities.

Jan 1, 2003

By V Kainulainen

Sandvik Tamrock Corp has developed an underground rock flow simulation tool OPTIMINEÖ which is a direct simulation tool for matching suitable technology in rock material flow for underground mine layouts and production requirements. The tool gives the possibility of determining intersections, limitations and critical points in the layout and working procedures at an early stage of a new mine/mining area planning process. The tool combines the supplier machine knowledge with operational know-how and mine environment. It can be used for identifying the effect of an individual incident such as the effect of one additional turn in a continuous loading cycle to the daily capacity. This paper discusses the way the OPTIMINEÖ simulation tool operates, the benefits and restrictions, and reviews how it simulates some example cases and how the mines benefit from the tool in maximising the performance and optimising the mobile fleet, scheduling work and fine-tuning the layout.

Jan 1, 2000

By John D. Morgan

Uncertain world conditions of the present time require that this country be prepared to meet: 1) all out nuclear war with attack on the U. S.; 2) limited wars; 3) political, economic, and/or pyschological warfare. Our present position as a major world power derives in large measure from our free institutions and great industrial productivity, and this productivity in turn depends on a continuing flow of raw materials-metals, minerals, fuels, and agricultural products. The U. S., with only about 6 pct of the world's population, uses from one to two thirds of the world's annual supplies of most metals and minerals. The U. S. strategic materials stockpiling program is designed to enhance our national security position: as stated in the preamble of the Stock Piling Act, to decrease and prevent wherever possible a dangerous and costly dependence upon foreign nations for supplies of strategic and critical materials in times of national emergency.

Jan 8, 1960

By H. Y. Sohn, R. D. Hagni, M. K. Kojo

Reflected light microscopy was used to study the mineralogy and textures of experimental reactions of a nickel concentrate with a slag. Such an interaction is an important step in the bath smelting of nickel sulphide concentrate. Concentrate particles in the central portions of the pellets are rounded and develop vermicular S02 gas porosity. In the outer portions of the pellets, the original minerals of the concentrate, i.e., pyrrhotite, pentlandite, pyrite, chalcopyrite and violarite, have agglomerated and reacted to form two intergrown phases: pyrrhotite solid solution (FeO.75Ni0.18Cu0.01S) and pentlandite solid solution (Fe0.58Ni0.51Cu 0.03S). Magnetite formed euhedral crystals, skeletal crystals and dendrites at the margins of the matte. Prismatic, ferrohypersthene and octahedral Mg-Al-Fe spinet crystals and dendrites are present in the glassy slag. Key words: Nickel sulfide concentrate, Iron silicate slag, Bath smelting, Mineralogy, Microscopy

Jan 1, 2003

By Mansor A. N

Results are reported for the computer simulation of heap leaching of mixed copper oxide and sulphide ores. They resemble those obtained from testwork in terms of a substantial peak in the copper concentration of the pregnant solution, an initial period when no copper emerges and a lengthy period towards the end when the copper concentration and the daily increment in copper recovery are low. The simulation can be used to forecast process results before any column or similar testwork is performed. Potential applications of the simulation to process design, operating strategy and optimisation are discussed. Three modes of operation are identified that correspond to different performance patterns and dependencies on ore and process variables. The relative merits of different operating strategies for approaching the ideal performance are being investigated. For process design and development purposes, the simulation may be used with a limited testwork programme to achieve significant savings in time and resources.

Jan 1, 1989

By S Shipard

Filters are used in water treatment and hydrometallurgical process plants for objectives such as generating a dry spadable solid, pumpable high density slurry or high purity filtrate. The priority objective of every polishing filter, sometimes also termed clarifying filters is high purity filtrate and these are found in many diverse industries and even different applications within the same industry.To generate a high purity filtrate, process designers have the choice of many different polishing filter products, but in reality very few polishing filters are based on fundamentally different filtering concepts.This paper reviews the technology merits of well-known and the more recently developed polishing filter products and aims to assist metallurgists and engineers with the selection of an appropriate polishing filtration technology for pregnant liquor filtration and other process applications, plus a guide to best practice.CITATION:Shipard, S, 2013. Polishing filters for mineral processing plants, in Proceedings MetPlant 2013 , pp 118-125 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

A three-dimensional finite element analysis is used to determine the stress intensity factors associated with the chevron-notched semi-circular bend test specimen. The stress intensity factor calibration is done over a range of crack lengths a

Jan 1, 1998

By Y. Luo

This paper presents a number of mathematical models for predicting the different phases of the complete surface subsidence process associated with underground longwall mining. A computer program developed based on the mathematical models is briefly introduced.

Jan 1, 1992

By Andrea Koschinsky

Recent technological breakthroughs in the fields of ceramics, medicine, aerospace engineering and electronics (semi- and superconductors) are constantly creating new uses and an ongoing increasing demand for a variety of rare valuable trace metals. These so-called high-tech elements such as hafnium (Hf), titanium (Ti,) niobium (Nb), tantalum (Ta), zirconium (Zr), molybdenum (Mo), vanadium (V) and the rare earth elements (REE), many of them of strategic importance, occur inter alia at elevated and potentially economic concentrations in marine ferromanganese nodules and ferromanganese crusts, making those deep sea deposits potential future resources of these metals. As these metals are mostly present in the lattice of the manganese and iron phases, which are strongly intergrown, rather than in separate mineral phases within the nodules and crusts (Koschinsky and Hein, 2003), reductive dissolution of the host phases is a prerequisite to release and dissolve the valuable metals. To evaluate the association of these rare valuable metals with their mineral carrier phases, sequential leaching experiments were carried out on selected samples in a first step in our project.

Jan 1, 2011

By John Birkinbine

Mr. Neilson was born Aug. 12, 1842, at Philadelphia, Pa., where he died Dec. 30, 1906. His business career began with his graduation, in the class of 1862, from the Polytechnic College of the State of Pennsylvania. For a short time after graduation he was instructor in mathematics at the college, and then became associated with Messrs. Booth & Garrett, chemists, of his native city. In 1867 he was sent to the Adirondack mountains to care for mining interests of the late Jay Cooke, and spent about three years there, operating the forges at Elizabethtown, Essex county, N. Y. He also prepared an interesting monograph on Catalan forges and their operations. In 1868 he published a chart showing the material progress of the United States, and the cost of certain staple products during a series of years, which is believed to be the first of its kind issued in this country. In 1870 he made a trip to the Pacific Coast, prior to entering the service of the Pennsylvania Steel Company.

Jan 1, 1908

By H. I. Aaronson

THE TTT-curve for the beginning of transformation in hypoeutectoid steels containing appreciable amounts of relatively strong carbide-forming alloying elements often exhibits a "bay" at intermediate temperatures. In many of these steels, proeutectoid ferrite is the initial product of the decomposition of austenite not only at temperatures above the bay but also in an appreciable temperature range below the region of the bay. Hultgren has postulated that ferrite formed above the bay, termed "orthoferrite", contains the equilibrium concentration of alloying element at temperatures above the eutectoid range, and the extrapolated metastable equilibrium concentration at lower temperatures. The ferrite formed below the bay, on the other hand, termed "paraferrite", was assumed to inherit completely the bulk alloy content of the austenite without regard for the compositional requirements of equilibrium. As shown schematically in Fig. 1, the two types of ferrite were taken to have different Ae3 temperatures and different C-curves on a TTT-diagram. Their different kinetic behaviors were thus considered responsible for the bay in the TTT-curve for the proeutectoid ferrite reaction in this type of alloy steel.

Jan 1, 1962

By C. Patrick

Annually, the US coal industry generates and must dispose of over 200 million st (180 million t) of coal refuse, expanding a major environmental problem. The purpose of this research was to investigate the feasibility of utilizing coal refuse as an aggregate in concrete. This paper reports on findings of the initial phases of a project to determine the viability of replacing traditional concrete blocks with refuse blocks for use in ventilation stoppings in underground mines. Refuse, collected from three active preparation plants in eastern Kentucky, was used as the primary as aggregate in the preparation of concrete cylinder. Stress-strain analyses on the refuse cylinders yielded compressive strengths of from 59% to 77 % of the control-group strengths. Low variability within the groups was found while significant differences between the groups existed. On-going determinations of the effects of weathering on the refuse cylinders is being conducted and will be completed in early 1995. The research results are favorable for the future direction of the overall project objectives.

Jan 1, 1997

By D. S. Cronan, S. P. Varnavas

Abstract - Metalliferous precipitates from submarine hydrothermal discharges have been investigated at four inshore locations off Milos in the Hellenic Volcanic Arc. The fine fraction of the sediments shows considerable variability in the concentrations of elements frequently associated with hydrothermal activity. Manganese varies from 30 ppm to 2500 ppm, encompassing the entire range of values found off Santorini also in the Hellenic Arc. Iron occurs in lower concentrations than off Santorini and Yali, while other elements often associated with hydrothermal activity such as Pb, Zn, As, and Cu also show enrichments in sediments from the hydrothermal vent areas. Selective leaching studies have shown that most elements are variably distributed between the different phases of the sediments but with enriched Pb, Zn, and Mn mainly in easily soluble secondary phases. Hydrothermal inputs are strongest at Palaeochori Bay, less at Voudia Bay and lowest at the Airport Springs and Rivari. The weathering of sulfide and possibly other orebodies is also thought to contribute to some of the elements enriched, while background concentrations are largely supplied from detrital sources.

Jan 1, 1999

By G. Achurra

The products of the smelting of copper concentrates in an El Teniente Converter (CT) are a high grade matte, analyzing 74-76% Cu; and a highly oxidized slag, typically containing 15-20% Fe3O4 and 4-10% Cu. The El Teniente Division of CODELCO¬CHILE has developed a slag reduction-cleaning process, that is practised in a tilting, horizontal furnace, to recover copper from these slags. The El Teniente slag cleaning process has been successfully implemented at the El Teniente Caletones smelter and various other smelters in Chile: Today, eight such slag cleaning furnaces, each with a capacity of 800-1000 tonnes/day, are in operation in Chile. This paper discusses basic laboratory research and industrial tests that led to substantial reductions in the slag cleaning cycle time and the specific consumption of fuel and reductants. Simultaneously, the slag cleaning off-gas quality was improved. Based on the experimental results, recommendations were made to improve the practice of the El Teniente slag cleaning process. The recommended modifications have been fully implemented at the Caletones smelter.

Jan 1, 1999

YUGOSLAVIA is one of the smaller countries in Europe-about twice the size of Pennsylvania -but one of the richest nations in variety and quantity of minerals on the Continent. The country, just now beginning the pangs of a real industrial birth, has a mining history that goes back as far as the sixth century, B. C. Among others, the Romans exploited Yugoslavia's lead and zinc deposits, and there was intensive mining during the Middle Ages. But until now, the country's industrial development was such that it made no great demand on the mining industry for development or expansion. Conversations with Yugoslavian officials in New York give the impression that they are interested in two things. They need money and they need trained engineers to solve their mining problems. Yugoslavia appears to be attempting to attract both foreign money and foreign technical skill. They want financial aid in the form of loans. The U. S. Government has given aid to Yugoslavia in the shape of armaments, foodstuffs, and equipment. Recently, American banks have advanced funds.

Jan 5, 1954

By Andrea Brickey, Ethan Marcoux

The South Dakota School of Mines and Technology (SD Mines), located in Rapid City, South Dakota, is one of only a few universities in the United States that offer a Bachelor of Science in Mining Engineering. The Department of Mining Engineering and Management (MEM) at SD Mines teaches courses that introduce students to concepts related to mining, including a course covering explosives engineering. Students are taught the basics of explosives theory and application in the mining and construction industry through a series of lectures and assignments. With limited field experience, many students find some topics difficult; these include: flyrock, ground vibration, timing, and others. Some US mining schools have an experimental mine in which they can simulate field conditions and conduct hands-on training, but not all universities have such facilities. For those without, teaching certain concepts can be more challenging in a pure classroom environment. To counteract the lack of an experimental mine, the mining department at SD Mines implemented Paradigm (Version 18.4.4984.0; McKenzie, 2017) a computerbased blast modeling software to improve the learning environment.

Jan 1, 2019

Excessive dust generation from unpaved mine haul roads is a problem common to most surface mining operations. While optimal road wearing course material selection parameters reduce the inherent dust generation potential, they do not totally eliminate fugitive dust. Many different classes of suppression or palliative treatments are available for mine haul roads and this paper initially ascertains basic selection guidelines, using a set of ideal dust palliative product, application and performance parameters based on mine road-user requirements. An evaluation and modelling methodology for truck generated fugitive dust emissions is developed as a basis for the comparative assessment of dust control strategies. For water-based spraying, a watering model was developed to estimate individual mine road watering frequencies for characteristic site parameter combinations during summer and winter operating conditions, for a required level of control or maximum dust defect. This forms the base-case scenario with which to compare the performance of other types of dust palliatives under the same conditions. Finally, a basic palliative economic evaluation model is introduced with the aim of identifying and costing the establishment, application and maintenance rejuvenation activities associated with the use of chemical palliatives. While palliative cost and performance is generally site specific, it is shown that under certain combinations of conditions, the use of dust palliatives has the potential to deliver cost savings when compared to water-based spraying.

Jan 1, 2007

By Collings P. S, Adair D. L

The Upper Robe (Robe Gorge) deposits occur in Kumina Creek and the Robe River, some 20-40 km upstream from mining operations at Pannawonica. The Gorge Deposits were rec- ognised, mapped and sampled in 1962-3 and re- examined in detail in 1971. Approximately 180 mineralized occurrences were mapped in 1971 on 1:4800 scale and 50 of these were remapped in detail at 1:1200 scale. Eighty cross sections were measured and sampled and 300 geological maps prepared. In addition 88 holes totalling 7388 feet were drilled in three occurrences considered to have the greatest potential. The Gorge Deposits occur in the Robe Pisolite unit which forms thin remnant crusts, bay fillings and occasional cut-off meanders along the edge of the present streams. Less than 50 of the deposits have tonnage potential of one million or more. Consequently exploit- ation of the Gorge reserves must be considered as a very uncertain, long range possibility because the deposits are small and scattered throughout the gorges in the area, thereby necessitating costly railroad spur lines to gain mining access. Grade of the occurrences is extremely variable over short distances both vertically

Jan 1, 1973

By C. L. Meyers, J. L. Lytton, T. E. Tietz

The recovery of tensile flow stress of 99.995 pct A1 under conditions of elastic strain and plastic creep straining was investigated using a fractional recovery parameter. Tensile straining was conducted at room temperature to a true strain of 0.10, and recovery treatments were made under stress in the temperature range from 80° to 198°C. Whereas elastic strains had no appreciable influence on flow-stress recovery, plastic creep straining was found to accelerate the recovery process. Although higher creep stresses gave greater recovery for a given time and temperature, it was found that lower stresses produced greater recovevy at equal ALTHOUGH many studies have been made to date on the recovery of metals from the cold-worked creep strains above about 0.005. This effect was attributed to the coarser, and therefore weaker, substructure developed during creep at the lower stresses. The activation energy for recovery during creep straining at 2075 psi between 160" and 198°C was found to be 25,000 cal per mole. This value was not significantly greater than the value previously obtained for no-load recovery. The activation energy for creep at 2075 psi between 160" and 198°C was 34,000 cal per mole, a value significantly greater than that for recovery under the same conditions. state, little is known concerning some important aspects of recovery behavior. One such area is the effect concurrent strain has on the recovery process. Since metals in structural applications at high temperatures are under stress, the possible effects of the resulting elastic and plastic strain on recovery may be of significant importance.

Jan 1, 1962

By K. P. Wang

SIGNIFICANT general developments took place in the Far East during 1964, with far-reaching repercussions on the mineral and industrial economies of individual countries and the region as a whole. Japan, during this, "the Year of the Open Door," ushered in the era of industrial maturity, greater independence in economic policy, and expanded technical assistance to less developed countries. Symbolic of its dynamic economic growth is the fact that Japan out-produced the Federal Republic of Germany in steel during 1964 to take over a third-ranking world position. Mainland China, recovering from the "Leap Forward" debacle, made significant gains in industrial output. Mainland Chinese trade with Japan was on the upswing, and discussions were held between the Chinese and the Soviets for possibly resuming Soviet aid in industrial and mineral development. Meanwhile, United States aid to Taiwan was being phased out because of progress achieved. Rapprochement between South Korea and Japan was imminent late in 1964, a factor which may well affect South Korean mineral development. The Indonesian-Malaysian confrontation created economic difficulties in both countries. The war in Viet-Nam seriously disrupted industrial activities, particularly in the south.

Jan 1, 1966