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By John J. Dran

Large mining companies use a number of sophisticated analytical techniques for introducing the element of risk into the valuation of mineral reserve sites. These methods include, but are not limited to, sensitivity analysis, computer simulation, conditional probability, and portfolio theory. Such techniques enable the managements of these large companies to have an awareness of the many possible ramifications of their investment decisions. On the other hand, small mining companies and individuals in the mining business, due to limited financial and technical resources, still rely primarily on single point estimates of the value of mineral reserves. These small miners introduce the aspect of risk only through the application of an appropriate "speculative" discount rate. This paper illustrates the application of a technique for the introduction of risk into investment analysis. The method appears to be most suitable for use by small mining companies and individuals contemplating a large investment in a new mineral reserve site.

Jan 1, 1974

By William M. Bowron

THIRTY years ago, when I stood on the cliff of red fossil iron-ore, on Red mountain, Jefferson county, Ala., I asked what were the geological relations of this remarkable deposit. In reply I was told that it was a limestone colored and saturated by some unknown but wholly external influences, and that at a reasonable distance from the surface the color would disappear. I could find no satisfactory explanation either of the nature of this wonderful external permeating influence, or of the cause of such a ferrous impregnation selecting this one particular bed of limestone, to the exclusion of the higher and lower beds of the same material which are not even stained. I. THE PRESENT THEORY. Referring to this subject, Dana says:' "The clays, clayey sandstones and limestones of the Clinton epoch, through New York and the Appalachians, show that the mud-flats and sand-banks, and hence the shallow seas of the coast region, still continued. . . The beds of argillaceous iron-ore, which spread so widely through New York and some of the other States, south and west, could not have formed in an open sea, for clayey iron-deposits do not form under such circumstances. They are proof of extensive marshes, and, therefore, of land near the sea-level. The fragments of crinoids and shells found in these beds are evidence that they were, in part at least, salt-water marshes, and that the tides sometimes reached them." At first, this explanation seemed satisfactory, but the more I studied the ore the less satisfying the explanation became. 1. In the ore itself I found associated with the small particles of rounded matter (now consisting of iron oxide in which organic structure, if ever present, has become lost, though the

Nov 1, 1905

By John R. Marks

Introduction An engineer is a builder and a problem solver. He uses knowledge of the properties of matter and energy to furnish the needs of society. Engineers form the bridge between scientific researchers and the general public, most of whom are technologically illiterate. Mining, metallurgical, and petroleum engineers extract minerals from the ground and process them into usable forms. Then, other engineers further process them into society's needs. Minerals engineers deal with more uncertainty than other engineers. Each ore deposit has its own personality and each ore is metallurgically unique. Minerals engineers, therefore, must be flexible, often applying larger safety factors and contingencies than other engineers, and frequently functioning as a jack of all trades. A minerals engineer can work in coal, oil, oil shale, base metals, ferrous metals, precious metals, industrial minerals, strategic minerals, or in exploration. Other mining jobs include banking and financing, education and research, marketing and sales, and government. As a minerals engineer, you may be among the first to work on the ocean floor or the moon. College Preparation A difference between college and industry is the type of problems to be solved. A typical college problem has an exact answer derived from given information. An industry problem is more apt to have a solution chosen from a number of alternatives. Information required for the solution is not given. It must be measured, calculated, looked-up, estimated, or otherwise derived. Solutions involve trade-offs, economics, and human factors, as well as application of physical laws and theory. When a college problem is answered, you move on to the next one. In industry, however, the headaches may just be starting with the implementation of the solution. Students often complain that they see little use for the theory they are learning. This is valid. A good professor will link theory and practice. Another difference between college and industry is the price of failure. In college, you can make a half-hearted effort in an assignment and take your C or D. On the job, however, poor engineering results in potentially effective projects being rejected and unsound projects being undertaken. Poor performance results in cost overruns, schedule holdups, oversights, disgruntled employees, irate bosses, unsafe structures, and unreliable systems. The costs are time, money, and possibly lives. The student pays the university for his work - not the other way around. So the rewards for good schoolwork often seem nebulous. But education must be viewed as an investment. Working for good grades will help you think better, learn more, receive better job offers, and perform more effectively on the job. There is no substitute for hard work. Avoid taking the easiest electives. If you desire a more liberal education or dislike rigorous physical sciences, mathematics, or engineering courses, change majors. Remember, you are training to be an engineer, not a computer programmer or market analyst. At least one summer of industry employment is necessary for minerals engineering students. The sooner you gain actual experience, the sooner you will know whether to change majors. Most large companies hire students during summer. It is best to send out applications around Christmas break. First and second year students usually work as laborers. Upper-classmen may work as engineering technicians. Students must sometimes choose between returning to a company at a higher position or trying a different company at a lower position, for more varied experience. Both alternatives have advantages. Do your best on these summer jobs. The company is watching. If you do well, the chances are good you will get a job offer when you graduate. Good references are important when you begin job hunting. Interviewing occurs near the end of your school career. The standard procedure is to send your resume with a cover letter to each company you are interested in. The resume for a graduating engineer with little experience need not exceed one page. The cover letter must be written for the individual company.

Jan 2, 1985

By Maurice Hall Haycock

ONE result of the higher price of gold has been the exploitation of many low-grade deposits, the successful treatment of which depends upon obtaining high recovery of the contained gold. Modern methods have made it possible to recover gold from many ores formerly regarded as impossible to treat economically, but in order to apply these methods efficiently it has become desirable, and indeed in many cases indispensable, to gain precise information concerning their mineralogical and physical character. The most successful means of doing this is the use of the reflecting microscope. Reflecting microscopes had long been employed by metallurgists for studying polished surfaces of iron and steel when, thirty years ago, Dr. W. Campbell, of Columbia University, advanced the idea of using similar methods for studying opaque minerals (1). The immediate result was the completion of two microscopic studies, the first on Cobalt silver ores (2) and the second on Sudbury nickel ores (3). The idea was surprisingly slow in being adopted, and not until 1911 did it begin to spread through the universities of this continent. From then on, ore microscopy, or 'mineragraphy', made rapid progress, and, during the next fifteen years, research in universities of North America and Europe led to the development of somewhat specialized apparatus and technique. This phase of development, which resulted largely in contributions of a descriptive nature, furnished a mass of data from which the possibility of economic applications was soon recognized. Ore microscopy became an aid to the mining geologist in solving many problems of ore deposition. This soon led to its application in the study of ores and mill products in connection with their treatment. Its usefulness in this latter field has been very marked and has led to its widespread adoption by the mining industry.

Jan 1, 1937

By Howard N. Eavenson

TWO months ago, just after the coal code hearing in Washington, one of our leading liberal weeklies printed a study of the coal industry made by an economist in the Administration, and on the outside cover bad it featured as "Coal-A Dying Industry." There are, of course, different opinions as to the accuracy of this characterization and I want to present some of the facts about the outlook for the bituminous industry for a short time ahead. In view of what has happened in the industry within the recent past it would be futile to attempt to make any prophecy about what is likely to occur in the future. We all know that a prophet is not without honor save in his own country, but it is likely that anyone undertaking this role about this industry would soon find himself in no man's land. One can, with some slight degree of safety perhaps, outline present conditions and tendencies and draw some inferences as to what the future may hold.

Jan 1, 1933

By A. C. Fieldner

The past full year of war has increased greatly the demand for virtually all kinds of fuel, and the Bureau of Mines research and service facilities have been extended to meet these unprecedented requirements. Liquid fuels, such as aviation and motor gasolines, are fundamental to modern warfare. Bituminous coal and anthracite are needed, not only to servo the expanded industrial program for which coal normally is used but also to replace natural gas, wherever possible, and fuel oil in the Eastern States, New England, and the Pacific Northwest. Railroad transportation with energy derived from coal is replacing much of the motor-vehicle transportation that has been stopped or curtailed to conserve rubber. Pulverized coal hoe been sound to be a satisfactory and cheaper substitute for fuel oil in metallurgical heating furnaces. Celloidal fuel - a mixture of coal dust and oil - may offer a partial substitution for curtain coal-burning equipment. Several industrial experiments have been made with this type of fuel. The expansion of the steel industry in connection with the war program has required a corresponding increase in the production of metallurgical coke and its associated byproducts - light oil, tar, ammonium sulfate, and surplus gas. If the war is of long duration and new reserves of petroleum are not discovered, wartime trends from fuel oil to coal probably will not be reversed.

Jan 1, 1945

By C. Graham

Mechanisation has been a predominant theme of the past 50 years in the mining industry, particularly underground mining. As the level of technology employed has increased, the anticipated productivity gains have not been realised and the differences are not explained by the demand for higher standards of safety and security. Now, mining costs are so high and productivity so low that the resultant return on investment for many Canadian operations has fallen to levels considered unacceptable in a competitive capital market. Simply continuing technological development cannot reverse this trend and its financial implications. The focus on technological development has distracted us from some basic truths. Systems that are more complex are more likely to fail and cost-effective processes depend on the continuity of productive activity and the flow of material. When putting these facts together, it becomes clear that in a system that has fixed external conditions, the single most crucial issue is the effective management of the operational cycle. By its nature, technology focuses our attention on what gets done and how it gets done, while the crucial issue is the increasingly longer periods in the operational cycle when nothing productive is being done. What is required is to match the level of technological complexity to the fixed system conditions, which are virtually unchangeable. This paper looks at the overall system and objectives and attempts to present an appropriate level of technology for the Canadian mining industry, now and in the foreseeable future.

May 1, 2004

By W. H. McAllister

The paper considers the geology and the coalfields that comprise the Scottish south area. It traces the history of known sources of spontaneous combustion and indicates the collieries concerned, with the position of the seams in the geological series where heatings have occurred. The methods of work over the years are described. It relates in detail the circumstances surrounding a fire at Bilston Glen Colliery in the Lothian Coalfield, and the heating at Killoch Colliery in the Ayrshire Coalfield, and the steps taken to deal with them. It also describes some of the difficulties in steep seam working. Methods adopted to prevent spontaneous combustion throughout the area are discussed, and some detail of the UNOR gas analyser is given. Finally, it comments on the present techniques in use in the area, particularly at Bilston Glen Colliery, to prevent spontaneous combustion.

May 23, 1905

By Stephen Williams

This paper examines manning best practice in the Australian mining industry. In particular, the paper considers a range of mining operations and their manning levels as measured by operational benchmarking. The benchmarking results presented cover 15 open pit and 37 underground studies in Australia. The data was collected as part of AMC?s benchmarking and operational improvement studies conducted between 1999 and 2008. The results examine overall manning levels in mining, processing and administration functions. Manning levels for a range of mining methods, including open pit and underground methods, are segmented. Productivity measures such as ore tonnes per man day and metres developed per man day are presented and where direct relationships can be established, the relationships are described. Finally, the paper considers perspectives on best practice with regard to manning in the Australian mining industry and the limitations in application of this type of analysis in a global context.

May 1, 2009

By J. J. Foster

MOST of us will, I think, agree that never before in the history of the coal industry has the human side of our business been so important as today. Since, even in wholly mechanized mining, labor cost is such a large percentage of out total cost we are all deeply concerned not only about the present attitude of our employees but particularly about the future, when the industry returns to a "survival of the fittest" basis. Many things could and should be done about our employee relations in the coal business. Failure to recognize these obligations and do something about them may lead to serious consequences, the least serious of which will be the loss not only of many of our better employees but a large portion of our potential employees, as they graduate from our schools to other in¬dustries. Some of these things should be handled by the industry as a whole whereas others should be done by individual companies. Due to varying conditions and size of organizations it would, at best, be necessary to vary a program to meet the individual needs of each operator.

Jan 1, 1945

By Neal I. Rosenberg

There is an old education maxim that a good teacher "first tells 'em what he's gonna tell 'em, then he tells 'em, and finally he tells 'em what he told 'em. I'm sure this says something about me as a teacher, and therefore as a student as well, but I'm going to begin by violating that maxim. The first thing I'm going to do is tell you what I'm not going to tell you. I'm not going to tell you that my company has found the solution to frozen coal problems. I'm not going to tell you that there is a miraculous new formula, and your frozen coal worries are over. Actually, it is really questionable whether there is a single step or process which will provide the answer. On the other hand, I do believe that at Union Electric we have made significant improvements in our ability to deal with frozen coal over the last couple of years, and I propose to describe some of the things we have done, what conclusions we have drawn so far, and the direction in which we are now headed. It would be well here to give a brief picture of the Union Electric system and the frozen coal problems we face. Union Electric is an investor owned electric utility with headquarters in St. Louis, Mo. Total generating capability is on the order of 6800 megawatts, which snakes us 24th or 25th largest in the United States. Power generation is by steam (both coal and oil fired), hydro, pumped hydro, and combustion turbine units. Although that is a diverse power supply, by far the largest source is our four coal fired steam plants. One receives coal exclusively by barge, the other three by rail. It is at these last three plants that the frozen coal difficulties arise.

Jan 1, 1980

By A. J. S. Spearing, G. Bylapudi, K. Mondal

The mining industry is a major consumer of rock anchors in the United States. Due to the high humidity in the underground coal-mining environment, the rock anchors corrode and lose their load bearing capacity, which, in turn, reduces the life expectancy of the ground support. This creates operational difficulties and a number of safety concerns (Li and Linblad, 1999). Research on rock anchor corrosion has not been adequate in the past and the effects of several factors in the mine atmosphere and waters are not clearly understood. One of the probable reasons for this lack of research may be attributed to the time required for gathering meaningful data. Underground water samples from different mines in the Illinois coal basin were collected and the major chemical content was analyzed and used for laboratory testing. The corrosion performance of the different commercial rock anchors was investigated by techniques such as laboratory immersion tests in five different corrosion chambers and potentiodynamic polarization tests in simulated ground waters based on the Illinois coal basin. The tensile strengths were measured for the selected rock anchors taken every three months from the salt spray corrosion chambers maintained at different pH values and temperatures. The corrosion potential, corrosion current and the corresponding corrosion rates of the #5, #6, #6 epoxy-coated and #7 forged-head rebar steels, #6 and #7 threaded-head rebar steels were measured in the pHs of 5 and 8 at room temperature. The open circuit potential (OCP) readings of the different rock anchors were recorded in three selected underground coal mines (A, B & C) in the Illinois coal basin and the data compared with the laboratory electrochemical tests for analyzing the life of the rock anchors installed in the mines with respect to corrosion current measured.

Jan 1, 2010

By Christopher Tucker, Marcello Veiga

Social issues are increasingly recognized as significant inhibitors to mineral development projects. Increasingly social risk is being recognized as a key factor determining the success of a mineral investment. Groups opposed to a mine for social or political reasons often use environmental impacts, real or perceived, to prevent mine development. These risk factors depend largely on cultural perceptions of mining activities and must be understood as such in order to be appropriately managed. A first step to addressing social issues is inclusive, transparent and meaningful engagement of stakeholders. This process allows stakeholders to understand what the other parties value in order to collectively establish a common currency for development and the creation of mutual value. Expanding the scope of benefits and values a mine can bring is of increasing importance to mining companies who typically consult outside specialists remote from the mine site and late in the development timeline for this purpose. Training technical staff, engineers and geologists, who make initial and ongoing contact with local interests, in a holistic approach to mine development is crucial to successful and economic mineral development projects. Further extending this conversation to the general public, media governments and non-governmental organizations is a necessary step in developing a meaningful discourse on the benefit of mining activities.

Jan 1, 2014

By W. R. Chambers

A wide variety of mining conditions exists within the South Midlands Area and across this range of conditions more than one half of the mines are highly susceptible to spontaneous combustion. Two thick seams in which the greatest risk exists are described and illustrated. The different heatings which take place are categorized by the locations at which they occur in the mines: additional special cases not easily categorized by location are discussed separately. The discussion for each category of heating follows the pattern of: (i) the reasons why it occurs; (ii) when it arises the means by which it is fought, and (iii) the preventive measures taken in an attempt to avoid its occurrence. Relatively new factors which may affect the incidence of heatings are highlighted and suggestions are made which may assist in reducing the number of incidents in the Area. A new method of continuous sampling, analysis and recording is described and mention made of an original method of interpreting carbon monoxide results with the aid of the computer. The first results from this work show that an early warning is given of an adverse change in trend several weeks earlier than with the present methods. Lastly, suggestions are made about the direction in which research might proceed to assist in reducing the special hazards created by several features inherent in the present methods of mining.

May 23, 1905

By Calzado P. Luis E.

El presente estudio describe el comportamiento de un residuo de lixiviación bacteriana al tratamiento de lixiviación ácido-clorurante con el fin de extraer el contenido de plata. En este sentido, los parámetros que tienen influencia sobre la eficiencia de lixiviación son la granulometría y la temperatura de solución. Asimismo, la evaluación de las transformaciones desarrolladas en el material se realizó a través del microscopio electrónico de garrido y y en base a los argumentos del orden mineralógico, se evidencia que la limitada extracción de plata se debe a las fases estables de las condiciones empleadas por la ocurrencia del cobre gris y un mineral complejo de hinsdalita con contenidos de plata.

Nov 24, 1993

By Paul Hatmaker

Pumice and pumicite are siliceous volcanic substances quite similar in chemical composition , but somewhat different in physical properties , manner of formation , and mode of occurrence . Production in the United States has increased from 23,271 tons valued at $ 94,943 in 1910 , to 56,843 tons valued at $336,099 in 1930. Both pumice and pumicite are included in these figures as it has been impractical to collect statistical data on the separate commodities .

Mar 1, 1932

By R. E. Allen

THERE was once a time when a practical oil man would appraise or buy a producing property on the basis of from $200 to $500 per barrel of average daily settled production. Curtailment-has, for the present at least, caused a virtual abandonment of the "barrel -of settled production" as a yardstick of, oil property value and in its place has come the "barrel of allowable production," which, although an artificial thing, is nevertheless now the principal factor governing the rate of ?pay out? or investment return. The potential production of a well, settled or otherwise, is of less importance in determining the present worth of a well than is the rate at which it may be produced. Speaking only of true potential for the moment, it is obvious that of two similar wells having the same potential, the one having the highest rate of allowable production would be worth proportionately more than the one of lesser allowable. The discount factor for deferred return and risk can easily vary the present values of the two wells by as much as 20 per cent when allowable rates are not greatly different.

Jan 1, 1934

By Douglas Silver

During the past decade, Latin America has commanded an ever growing percentage of the world’s mineral exploration expenditures. Today, it controls approximately 30%. This has led to an increased number of large and small mineral discoveries over prior years for a variety of metals and the construction of many new mines. Its dominance is also seen in the larger than expected share of international mining capital investment. This has given its workers a competitive edge in global terms and an expertise that will ensure a long-term longevity to its mining industry. The best incentive for making vestment decisions is success. In this regard, Latin America’s success has compounded the incentives for further investment. Despite the large amount of foreign investment in Latin America, the wealth of these nations is not merely in its geological potential. The reason that several Latin American countries rank as global leaders in metal production is strongly influenced by their development of a strong mining culture, a culture which has been cultivated over many centuries. Good business practices provide another strong attraction to these regions. Additionally, Latin Americans have strong scientific and technical expertises. This is seen both in the investments’ size and the preference for high domestic employment. Relative to the number of domestic miners, the number of expatriates operating in Latin America is only a token few. In essence, the world markets are investing into the local geology and people.

Apr 24, 2001

By M. Hitch, M. B. Lytle

Resource development conflicts arise largely due to differences in worldview between those who support and those who oppose development. This paper illustrates how societies and civilizations with different worldviews produce different levels of creative and economic energy. A questionnaire was created to build a database of responses to test whether worldview and resource development are correlated. Factor and multivariate regression analysis determined correlations for respondent groupings. Results showed a positive correlation between the respondents\u2019 worldviews and their attitudes toward resource development. Correlations became stronger as the homogeneity of the sample subgroups increased.

Jan 1, 2017

By J. D. McAteer

It is widely agreed throughout the mining community that federal mine safety and health legislation administered by the Mine Safety and Health Administration (MSHA) deserves significant credit for the past quarter-century's remarkable improvements in miner safety and health. Recently, however, it has been suggested that the mining industry in the United States has now evolved to a point that current mine safety and health law may be obsolete. This proposition deserves attention. Today, I propose to give it the close logical scrutiny that is its due. I conclude that the obsolescence of current mine safety and health law is not supported by the evidence. The existing mine safety and health law continues to serve as a critically important supplement to mine operators' safety programs at a modest cost to the taxpayer. At the same time, trends in a changing industry do call for responsive adaptations in the Federal mine safety and health program. I will argue that timely and appropriate responses to changing needs can be accomplished within the framework of existing legislation, provided federal officials avail themselves of the flexibility provided by existing law.

Jan 1, 1996