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By John A. Wolfe, James A. Niederjohn

Applications of mathematical statistics to the field of exploration are still relatively new. There are two primary reasons why little has been published in this field. First, if one discovers an effective technique for exploration, he does not like to disclose it. Second, the geologist needs to work closely with a mathematical statistician, and the communications barrier between the disciplines is formidable. The authors, one a geologist and the other a statistician, were interested in the economic benefit which appeared to be possible in the inter-disciplinary area they call "geostatistics."

Jan 11, 1962

By H. D. Dahl, Roger C. Parsons

In order to improve roof stability, Continental Oil Co.'s research program, initiated in 1969, was directed toward defining the geological parameters that affect the severity of roof conditions in any particular area of the mine. In addition, the program was seeking to define why roof falls in the Humphrey No. 7 mine (and in northern West Virginia-southwestern Pennsylvania coal mining areas) are oriented so that they occur primarily in north-south rooms or entries. Conclusions and recommendations from this study of roof fall orientation are given.

Jan 1, 1973

The advancements achieved in rapid tunnelling in the 60's and 70's have been notable. It is unfortunate that shaft sinking has not enjoyed equivalent advances and there are many good reasons why this is so. Technical and commercial considerations have held back development and continue to do so despite the increasing urgency in the search for minerals and energy. By the careful selection of an appropri- ate project and the application of specialist engineering the Bdard took advantage of a unique opportunity to apply a mechanised shaft borer in field conditions.

Jan 1, 1981

By R. G. Bradbury

The paper uses two hypothetical, but typical, situations to show that hydraulic rock drilling equipment has very significant economic advantages over pneumatic equipment both in drifting applications (even in the situation where advantage is not taken of the high productive capacity of the hydraulic drill) and production drilling applications. Other factors, including the non-economic advantages and the disadvantages of hydraulic drilling, are discussed. The paper concludes with a brief analysis of why the Canadian mining industry has been slow to take advantage of this apparent broadly advantageous advance in rock drilling technology.

Jan 1, 1979

The importance of understanding the behaviour of cemented paste backfill (CPB) within the framework of the effective stress concept is highlighted in this paper. Only through an understanding built on this concept can problems such as barricade loads, the rate of consolidation and arching, be fully understood. The critical importance of the development of stiffness during the hydration process, and its impact on factors such as barricade loads, is used to illustrate why conventional approaches that implicitly ignore the effective stress principle are incapable of capturing the essential components of CPB behaviour.

May 1, 2007

By L I. Rozman

"There have always been development projects that fall short of expectations. In the last decade, we have seen more than the usual number of mining and oil/gas development projects taking significantly longer to develop and costing materially more than expected. The recent resource-equity market slump proves that investors are now far more cautious about investing new capital in the mineral and petroleum resources sector.What have we learned since 2005? Why have projects missed their targets? Why do investors often feel misled?Valuation of a project and the estimation of value is a more complex process than the evaluation of the merits of project development. The merit of project development can be clear from a prefeasibility evaluation, but this is no reason to skip the rigour of a feasibility study. The valuation of any project that is developed with any added risk should be discounted for this added risk.The development of a project impacts on other stakeholders, and the indirect cost of these impacts can have material implications for the cost structure, time and ultimate valuation of the project for its financial backers. The development of new projects (and thereby supply) can also have an impact on commodity prices, and therefore an impact on returns for financial backers.This paper will provide commentary on the author’s experiences and observations as a project developer and operator for 25 years, before becoming a project financier a decade ago.CITATION:Rozman, L I, 2016. Project evaluation and valuation – an investor’s golden rule, in Proceedings Project Evaluation 2016, pp 31–36 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By Kenneth K. Humphreys

INTRODUCTION What is automation? Why automate? Webster's New Collegiate Dictionary defines automation as "the automatically controlled operation of an apparatus, process, or system by mechanical or electronic devices that take the place of human organs of observation, effort, and decision." This definition gives an implied answer to the second question, "Why automate?" Automation, automatic control devices, and process control equipment receive their justification in supplementing or replacing manpower, which results in decreased operating costs. In the past, processes were operated with the minimum amount of instruments needed merely to guide operators. Processes were manually con- trolled by the operator on the basis of simple temperature, pressure, flow, and level indications on a panel. Today the tendency is to design a new plant to operate in a fully automatic manner according to a preset pro- gram utilizing a minimum of manpower. In addition to this direct cost reduction in manual labor, increased equipment capacity results from uniformity of flow and uniform control of process variables. This control eliminates or minimizes surges and permits equipment to be operated at or near its ultimate capacity and, for a given material throughput, permits the use of smaller process equipment. Automatic control, therefore, be it in the field of coal processing or in any industrial field, is simply a problem of economics. Control equipment is justified in terms of its contribution toward increasing productivity, increasing profit margins, or producing a new and salable product at a profit. Instruments and control devices can be divided into two general groups: (1) units which measure and (2) units which both measure and control a process variable.

Jan 1, 1979

By Thomas D. Kaufmann

Whether pursuing hedging or speculative strategies, gold miners can increase sales revenues 1 % to 6% by constantly pricing production forward. Unlike other commodities, gold futures prices are consistently higher than spot prices. A Colorado School of Mines study showed theoretically and empirically that in the 15 years since the price of gold was released from government control, the forward price for gold has been higher than the current price almost 100% of the time. The reason why Metal traders know that holders of metal earn a bonus selling forward when the metal is in "contango." "Contango" is a mysterious word that crept into the trading vocabulary a century ago. It designates a situation when the price of a metal on the futures markets is higher than the price in the immediate or spot market. If the spectrum of spot and futures prices remains static over time, the forward seller who has contracted at a higher than spot price can make a profit equal to the contango by redeeming his commitment at the lower spot price when the contract matures. Consequently, when a seller in a contango market hedges, he makes a profit on the transaction in addition to avoiding a price change risk. On the other hand, buyers of the metal who hedge in a contango situation will sustain a loss equal to the contango. Producers of gold, however, are sellers of gold. For most metals and oil, there is no inherent reason why futures prices should be higher than present prices. Buyers and sellers decide that the price of the commodity will be lower or higher than present values for a variety of reasons.

Jan 1, 1991

By A. M. Gaudin

A GREAT number of hypotheses has been advanced to explain the complex phenomena that are encountered in flotation. In the days of bulk-oil flotation, when a large quantity of oil was employed, it was observed that the oil-mineral aggregate floated above the ore-pulp because of its lesser density. With the advent of froth-flotation this phase of the theory had to be modified to take into account the presence of air bubbles. The reason why the mineral-bearing froth of today rises to the top of flotation cells is, of course, because the air-mineral aggregate, with whatever reagent may be associated with it, is lighter than the pulp. In an attempt to explain froth-flotation the fact has been emphasized that certain minerals are wetted and therefore remain in water; while others are not wetted and therefore become associated in preference with air. Such an "explanation" does not explain facts, it merely states them; for instance, it does not explain why minerals are wetted under some circumstances and not wetted under others. Going somewhat further, the wetting or nonwetting of minerals by water has been ascribed' to differences in the angles of contact between oil droplets and mineral surface at the surface of the minerals. This explanation, however, was abandoned when soluble flotation reagents came to replace the so-called "insoluble" reagents. Another theory, sponsored about 10 years ago by Ralston,2 involves the effects of electric charges at the surface of the minerals particles and air bubbles. This theory, unfortunately, was not developed as fully as it seems desirable.

Jan 1, 1927

By K. Chotruangprasert

This paper explores Global Reporting Initiative (GRI) reporting practices within the mining industry. Specifically, this paper investigates how and why a mining company makes voluntary reporting decisions to include the GRI indicators that may be considered ?negative? to the company?s reputation. Due to the voluntary nature of the GRI Guidelines, a GRI adopter is not legally obligated to report every GRI indicator. Not surprisingly, empirical studies that evaluated the extent to which companies? sustainability reports meet the GRI requirements (Guenther, Hoppe, & Poser, 2006; Morhardt, Baird, & Freeman, 2002; Samy, Odemilin, & Bampton, 2010; Skouloudis, Evangelinos, & Kourmousis, 2009) have found that reporting practices of the companies under their studies are well below the standards reflected in the GRI Guidelines. An influential study by Clarkson et al (2008) uses economic-based and socio-political theories to explain variation in companies? environmental disclosure. They have found that, as predicted by economic-based theory, superior environmental performers disclosed more ?hard? (i.e. verifiable) environmental information. Inferior environmental performers are found to disclose more ?soft? (i.e., not easily verifiable) claims, which is consistent with socio-political theories (Clarkson, Li, Richardson, & Vasvari, 2008). However, this study and the existing literature do not adequately explain why a company may act in a way that cannot be explained by economic-based and socio-political theories, for example, why it would report some negative soft data that it is not required to report. This paper intends to address this literature gap. GRI reporting by a Canadian mining company, which I would like to call ?Company C?, is used as a case study for this paper. Company C was selected for this research because in addition to ?positive? information, its GRI-based sustainability report also includes both hard and soft ?negative? information such as grievances. Research methods include interviewing Company C?s employees who are involved in preparing GRI reports and reviewing documents prepared both by the company and by external parties. I find that integrative social contracts theory (ISCT) offers a valuable explanation to Company C?s reporting practices. From the ISCT perspective, Company C?s management appears to feel that the company is obligated under social contracts to be transparent. Therefore, Company C disclosed both positive and negative social and environmental information to the public because the management appeared to think that it is the right thing to do. At the same time, being transparent about the bad news gave the company an opportunity to conclude that it had done something to avoid future occurrence of the negative incidents. Therefore, I propose that, in addition to the economic and socio-political theories that are more often used in literature, insights from ISCT are instrumental in improving our understanding of the corporate non-financial reporting practices phenomenon.

Aug 1, 2013

By D. A. Peacock

"INTRODUCTION Outer space technology and exploration have reached a tipping point so that mining and mineral processing in outer space is now a certainty and not a dream. Several competing companies, worldwide, are well on the way to building spaceships to land on the Moon and eventually mine the Moon and asteroids for volatiles, rare earth metals and Helium-3. The Google Lunar XPrize offers a $30 million prize1. China has recently landed a spacecraft on the Moon. The European Space Agency, with cooperation from the United States, has landed a spacecraft, Philae, on a comet. And, Mars One is planning a one-way trip to establish a settlement of humans on Mars. How and why are the Moon and asteroids and their resources of interest to private space industry and companies? Why are the Moon and asteroids viewed as a potential business venue? GEOLOGY OF THE MOON AND ASTEROIDS –WHY DO WE WANT TO MINE THERE? Space enterprises are actively working towards establishing and operating lunar and asteroid mining locations for resource extraction, resource processing, conversion to salable products, and distribution of the products and services in space and to Earth and beyond2. Forty-five years ago, the Apollo manned missions to the Moon returned rocks and regolith to Earth, which were studied and analyzed. What they found was that the Moon contains valuable minerals and resources. These minerals are largely due to meteor and asteroid impacts, which have, over eons, created this mineral rich regolith. These impacts have occurred on Earth as well, for billions of years, particularly early on in the history of the solar system. However, on Earth, wind, water, and vegetation have erased most of these impacts. On the Moon, in contrast, the only weathering is caused by subsequent impacts and the solar wind. The Moon regolith contains valuable rare earth minerals, platinum-group minerals (particularly where the Moon has been impacted by asteroids), volatiles (useful for processing and habitation), Helium-3 and titanium. Almost non-existent on earth, Helium-3 is abundant and accessible on the Moon and can be used in nuclear fusion power plants, producing much more energy than fission reactions and with much less radioactive waste. One of the main reasons Helium-3 is sought after as a fusion fuel is because there are no neutrons generated as a reaction product. Governments and private companies focus on mining of Helium-3 on the Moon as a basis for their economic models. Moon Express, one of the private companies who is planning on mining on the Moon, will recover moon rocks to fund its early operations25. Subsequently, it will recover Helium-3, platinum, and rare earth metals, as it engages in surface mining operations."

Jan 1, 2016

By T. Nyabeze

This paper presents the experiences and views of women involved in the mining industry as determined from a questionnaire that was circulated across the Canadian mining industry. Globally, there have been significant studies done to understand the historic and global variety of women?s participation in this industry1. The reason for focusing on women?s experiences here in Canada is because women?s percentage representation at 14.4% in the mineral industry workforce falls below the overall labour force average of 47.4%2. Notably, a recent article in the Globe and Mail newspaper points out that adequate representation of women in leading of organizations is more of a matter of competitiveness and innovation rather than purely a ?women?s issue?3. This paper will provide some insight into the reasons why women join and stay in the mining industry and shed some light into the reasons for the overall low representation in this sector. The authors believe, as stated in a study from the London Business School, that a gender-balanced workforce is one way of providing the best results in areas that drive innovation4. Women represent a key stakeholder group that can help enhance the mining industry?s sustainability through innovation. The women who responded to the questionnaire represent many different areas within the mining industry, including a broad range of roles in industry, government, academia and in the supplies and services sector. The paper is intended to raise awareness about issues that women encounter that contribute or detract from career satisfaction in the mining industry. The survey provides an overall understanding of why women pursue or work in mining, and why women either remain or choose to leave it. The advantages and disadvantages experienced by women are highlighted, along with a summary of the possible initiatives that could be undertaken by employers as opportunities to improve the attraction of the mining industry for career minded women. As well, the survey provides a summary of the top ten features that are already in place at various organizations and community groups that have been identified as key for supporting and encouraging women to join and remain in the industry. Not surprisingly, the survey identifies that one of the key ingredients for retention of women in mining is the provision of mentors and sponsors. Another key aspect for retention is the provision of progressive employment policies that address the need for a degree of flexibility in work hours and a culture of balance between work and personal life demands. The survey and results are portrayed only from a female perspective since it is largely women?s perceptions that will inevitably be transmitted to others who plan on entering the field.

Oct 1, 2010

By C. F. Strydom

Paper written on project work carried out in partial fulfilment of B. Eng (Mining Engineering) degree The Self-directed work team concept is the product of relentless performance pressure on American industries during the late eighties and early nineties from other world industrial leaders like Japan. The concept proved to be a successful vehicle by which the Americans could increase their production and improve their safety statistics. The aim of this study is to evaluate the concept as a means to improve the overall performance on South African goldmines. he study is directed by a historical research section, answering questions like: ?Why do we need to change? ?What is a Self-directed work team? ?What are the principle advantages of the concept? ?What are the essential requirements for the concept to succeed? The study also includes an empirical research section that focuses on the current Self-directed work team situation in the South African gold mining industry. The empirical research section is limited to three case studies within Anglogold due to a study period of only six weeks. The mines chosen for the case studies have been labelled Mine 1, Mine 2 and Mine 3. The latter being the base mine allowing for a more in depth study. This includes a perception analysis towards Self-directed work teams within the mine. The study proves the truth of the Latin proverb ?Tempora mutantur, nos et mutamur in illis? meaning ?The times are changing, and we are changing with them?. The chief change catalysts identified are a dwindling gold price and a projected labour crisis. From the study it is evident that the Self-directed work team concept disposes of the critical parameters required for a dramatic improvement in performance. The study also indicates that for the concept to succeed, certain factors like top-level commitment and management-employee trust have to be in place. Sadly, the concluding part of the study proves that very few of the identified critical success parameters are present in the South African gold mining industry. This can serve to explain why the industry only has success with the concept when monetary gain is the chief motivator. The study only focuses on the reasons why the concept is not performing to its full potential and does not wander into explaining the reasons for the current unsupportive milieu in the industry. Self-directed work teams could well rescue the South Africangold mining industry but currently we are driving a square pin into a round hole! [Terminology SDWT?Self-directed work teams AEL?Adventure Experiential Learning ISW?In-stope worker POLC?Plan, organize, lead and control TEC?Total employee costed Silo?The confinement of departments preventing networking JCI?Johannesburg Consolidated Investment Co. Ltd]

Jan 1, 2002

Maximizing margins in competitive markets demands superior productivity. Unfortunately, management systems developed early this century for other industries often drive counterproductive behaviors choking mining productivity. Many executives and managers waste valuable time and effort relying on simply training and communicating to improve managerial practices and attitudes. In covering practical human behaviour, the paper explains why this fails -and explains how to use systems to successfully drive improved managerial practices and attitudes. It highlights use of modern performance Measurement, Analysis and Reporting systems to drive behaviors and improve margins -without capital investment -and make executive and managerial work easier and more effective.

Jan 1, 1999

By G. A. Kordosky

There are a number of reasons why the solvent extraction of molybdenum deserves attention: 1. The solvent extraction chemistry of molybdenum is interesting and complex, 2. The price of molybdenum is predicted to average about US$ 20.00 / pound in 2010 and, as China, India and other countries develop, the demand for specialty steels will increase putting long term demands on molybdenum supply, 3. Uranium ores often contain significant concentrations of molybdenum[1] and typically yellow cake will have a moly specification which when exceeded brings penalties, and 4. The valuable metal rhenium is a byproduct of molybdenum recovery circuits.

Jan 1, 2010

By N Burgio

Block cave mines are often thought of as rock factories where high volumes of production are mined from a fixed area suggesting little requirement for geological input and control. Yet caving operations have peculiar and specific technical requirements from prefeasibility through to post-mining reconciliation. Whilst essential elements such as resource definition, geological interpretation and sampling strategies are common to all mining methods, planning for a block cave requires a different emphasis and philosophical approach in how we deal with these issues. We will examine why a geoscientist’s input is critical towards the successful planning, design and monitoring of a caving operation.

Aug 22, 2011

Maximising margins in competitive markets demands superior productivity. Unfortunately, management systems developed early this century for other industries often drive counterproductive behaviours choking mining productivity. Many executives and managers waste valuable time and effort relying on simply training and communicating to improve managerial practices and attitudes. In covering practical human behaviour, the paper explains why this fails - and explains how to use systems to successfully drive improved managerial practices and attitudes. It highlights use of modern performance Measurement, Analysis and Reporting systems to drive behaviours and improve margins - without capital investment - and make executive and managerial work easier and more effective.

Jan 1, 1999

When mining of ilmenite deposits wet process of preparation is traditionally used. But this method needs large volume of water. The problem of water deficiency is characteristic of many regions of the Republic of Kazakhstan. The Satpayevskoye ilmenite deposit is situated in the East Kazakhstan, its location has problems with water, and the mineralogical composition of rock is unfavourable: rocks contain up to 40 per cent of clays. That is why designers made a decision to use dry process of preparation for processing of these ores. Offered scheme and equipment selection are presented in this paper.

Jan 1, 2003

Australians have always been great travellers but, traditionally Australian companies have been very conservative in contrast to more daring individual Australians. During the 1960s, '1970s and 1980s, the Australian companies spent much of their time exploring in Australia. It was only some of the major companies like CRA and BHP that had explored in places like Bougainville and Chile. However, during the mid-1980s some of the smaller companies started looking beyond their shore towards other opportunities in other countries. Why did they do this? Were they pushed or did they jump? And where did they go?

Jan 1, 1996

The paper discusses some theoretical aspects of Gy's sampling theory and provides reasons as to why it has found limited use in the mining industry, particularly for ores with low concentrations of values such as gold. These types of ores are referred to as low grade ores in the paper. It is shown that the misuse of the a priori liberation factor proposed by Gy is the main reason for the implementation limitation of Gy's model for low-grade ores. In addition, results of a case study done at the Gencor Geostatistics Department based On the new implementation of Gy's theory are provided.

Jan 1, 1996