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By D. K. Dysinger

Capital resource budgeting is the means by which managers of publicly held companies fulfill their fiduciary responsibility to maximize the wealth of stockholders. Managers maximize shareholder wealth by allocating investment capital to the most productive of competing alternative projects in a manner that maximizes the net present value of the firm's future cash flow. The techniques of cash flow analysis are the primary tools available for selecting a corporate portfolio of projects that meets or exceeds the rate of return expected by shareholders. The reliability of cash flow analysis hinges on the ability of managers to forecast the future values of individual components. The accuracy and reliability of forecasting determine the soundness of capital investment decisions and, ultimately, determine the value of the firm. The present paper will explore tools for forecasting the spot market price of a commodity, silver, to demonstrate the difficulty and uncertainty involved in forecasting the future. The commodity price is only one of a number of components of the cash flow equation. Each component has a unique and uncertain future and must be individually analyzed and forecast to arrive at a robust cash flow model.

Jan 1, 1997

By Jeffrey Loeb

Recent trends in blasting engineering and its related fields, at the level of professional academia, have tended to exclude detailed discussion and examination of the formative experiences of the engineering student. In particular, the extra-curricular aspects of the undergraduate program in engineering—focused, in this case, on the summer job—will be shown to contain a wealth of heretofore underappreciated knowledge in the field. In Surveying the Damage: Post Traumatic Stress and Pre-Blast Surveys, I intend to outline and examine some of the more unusual experiences afforded me by my work as a preblast surveyor in the summer of 2007. In this capacity, I was required to make a visual note of existing conditions of surrounding residential and commercial structures within 100 m (328 ft) of two separate blasting sites in central-east Ontario. In the interest of both convenience and specificity, I have attempted to organize the paper as a crossdiscipline survey of the field according to the conference’s list of suggested topics. In the paper’s first section, I will discuss the topic of Environmental Improvement and Remediation by using a case study in which not one, but two dead cats were found during the course of a routine pre-blast survey. The second section will undertake a discussion of on-site blaster gossip as an entry point into a wider discussion of Workplace Communications Management. In the paper’s final section, I will detail an early morning encounter with a 300 lb, stark-naked trailer park inhabitant as a cross-sectional analysis of the topics of Drilling in Hostile Environments, Vibration and Seismology (Sizemology?), Ethics in Blasting, Crisis Management, Risk Assessment and Public Relations. It is my hope that this paper will begin to open up a critical space for discussion of the formative experiences of engineering students during the undergraduate university program in terms of their far-reaching effects on later performance within the industry.

Jan 1, 2009

By Bo Hyun Kim, Mark K. Larson

Researchers at the National Institute for Occupational Safety and Health have tested the finite element code, UT3PC, with LaModel to evaluate their results using know case studies. The purpose of the testing was to demonstrate the usefulness and limitations of these programs in evaluating mine layout design. Both of these software packages are simple to use and free for public download. Their use by mine engineers, along with other tools, such as empirical methods, can enhance the assessment of a mine layout design. LaModel can model mining layout on a mine scale or, at least, on a multiple-panel scale. However, this software has limitations in calibrating to conditions at many coal mines in the western United States. The UT3PC software models smaller parts of a mine and is used to evaluate the design of pillars, shafts, or drifts; but the software calculates all components of the stress tensor and provides stresses, displacements, and safety factors throughout the model volume. The two codes are used to evaluate design of one known case, and UT3PC is used to evaluate another case. The results and approaches demonstrated in the testing are intended to aid mine engineers in evaluating site-specific problems and to show that these tools can provide useful information to the mine engineer in evaluating mine layout design.

Jul 1, 2023

By R. S. Dean

Boron compounds have been considered for many years as possible additions to iron and steel. A very recent use of boron-steel rods was for the control of neutron intensity in the graphite-uranium pile at the Clinton plutonium plant(130).4/ Norris(129) reports that slags containing boric oxide reduce the ferrous oxide content of steels and thereby the aluminum required for deoxidation. Boron is not considered an alloying element, but minute amounts produce what is often called a "needled" steel. The study of a series of iron-boron alloys by convenient steps, starting with iron containing no boron, indicated that boron was a hardening agent and made the iron very difficult if not impossible to forge. Then came the discovery that very minute traces of boron are quite different from the smallest amount previously thought worthy of study.

Jan 1, 1946

By Grant R. Brown

The report provides guidance for determining those environmental impacts associated with the surface mining of steeply pitching coal seams. In addition to the environmental impacts, four additional issues are addressed, namely (1) Time and motion studies of those coal mining systems employed in mining seams which pitch in excess of 250, (2) Assessment of those mining techniques, (3) Development of rationale for the mining methods employed, (4) Identification of the reclamation practices and determine whether these practices were in compliance with appropriate Federal and State regulations. Five surface mines located in three geologically distinct basins of the United States were analyzed during the period of August through November 1979. The three basins include the Hanna Basin of Wyoming, the North Park Basin of Colorado and the Southern Anthracite Field of Pennsylvania.

Jan 1, 1980

By John A. Gann

THE Iron and Steel Division has shared in the general increased activity of the industry. The fall meeting at Chicago was not only well attended but particularly characterized by the virility and scope of the discussions at the various sessions. The program for the February meeting indicates a similar interest in technological developments. The Blast-Furnace Committee continues to have the hearty support of the industry with discussions of such a nature as to be of real help to the operator as well ass the technologist. The work of the Open-Hearth Committee continues to be outstanding, with ever increasing attendance and ever mounting interest in the meetings. Formation of a conference on the physical chemistry of steelmaking has given those interested in this phase of work an organization allowing the same

Jan 1, 1936

By Ken A. Phillips

Like the Arizona jeans commercial says: Arizona's not just a state, its a state of mines. Nearly 300 mines operate in Arizona making it the largest nonfuel mining state in the nation. Although copper is king in Arizona's mineral complex, nonmetallic minerals play important roles both regionally and nationally. Throughout Arizona's mineral resource development history industrial minerals have dominated over the metals for most, but not recent years. The State's metal mining industry which makes Arizona the number one mining state in the United States is a relatively young phenomenon. Arizona was an important industrial mineral producer long before her metal mining industry got started. Salt, phosphates, silicates, and oxides as food additives, tanning chemicals, gemstones, components of aboriginal ordnance, pigments, and construction materials are among the minerals produced long before copper, gold, silver, and the other metals became important. Around 92 % of Arizona's mineral industry is made up of nonfuel minerals, 86 % of that is accounted for by copper. Another 4 % is taken up by copper byproducts of molybdenum, silver, and gold. The remaining 10% of the production is occupied by non-fuel, non-metallic minerals. Arizona's 1994 industrial mineral production of nearly $380 million ranks us among the top 25 in the nation and higher than the total mineral production of at least 15 states.

Jan 1, 1996

The paper describes data from test work programs on a range of magnetite ores in Australia and overseas. The analysis looks at the behaviour of material of different sizes fed to the rolls and the change in product size as a result of that, the conclusion being that there is a logarithmic relationship. The paper develops a form of equation to predict the product size from a given feed size distribution. The behaviour of the various magnetite ores is compared to more standard test methods such as crushing work index and unconfined compressive strength.

Jan 1, 2009

By James E. York

AT a meeting of the American Society for Testing Materials at Atlantic City, June, 1908, Dr.. C. B. Dudley, in his presidential address,' showed the vital necessity of not only making a steel rail as good as in the past, but of making it considerably better in order to meet the present and prospective require¬ments of railroads. Doctor Dudley requested the co-operation of all who from personal experience could give information that would result in bringing about the production of a steel rail that could be relied upon to meet the present requirements. I have had considerable experience in the practical manufacture of steel of almost every grade, during the past 40 years, and I shall suggest changes that will bring about the results desired. Doctor Dudley has had a long experience as chemical and metallurgical expert for the Pennsylvania railroad, but he frankly admits that up to the present time both he and other metallurgical experts lack the practical knowledge of steel-making that is necessary to state correctly the reasons for the unreliability of the steel rails now produced. The necessity is self-evident for more positive practical knowledge on the part of these experts of what is possible and what is impossible regarding the practical manufacturing of steel rails from the ingot to the, finished product. Chemical knowledge in steel-making is far in advance of what it was years ago, and might be said to cover every requirement (in that department) for producing reliable steel. The study of the metallography of steel has been of great value, also the physical testing of steel, but this knowledge will only de-

May 1, 1909

By W. H. Patterson

The history and experience of early companies in the Islands is illustrated by the typical transactions of Trans-Western from 1959 to date. Trans-Western had entered into farmout agreements with companies strong enough to carry out at least the required minimum exploratory work and then such development as might be warranted. The farmee companies were required to make deposits to guarantee work performance during the first period of validity, i.e. the first 3 years of the 12-year life of the permits, and at the rate of 5 cents per acre. At that time, a good deal of geology was available, as a result of extensive exploration that had been carried on by the Geological Survey of Canada and other geological enterprises, with field parties travelling over and camping on all of those Islands. Trans-Western's farmees then selected, from Trans-Western's priority on 13.5 million acres, what they believed were the lands most prospective of producing large oil and gas discoveries, and, having the right to trim off acreage which they considered less prospective, thereby reducing the acreage of Trans-Western and its farmees to in excess of 5.5 million acres. The farmees then commenced a 3-year program carrying out geological exploration to the required minimum of 5 cents per acre, and with some permanent and many mobile camps.

Jan 1, 1969

By D J. Williams

The majority of surface tailings storage facilities continue to employ sub-aerial tailings slurry deposition. Surface TSFs are typically sized and operated in a way to minimise the initial capital cost of the facility, driven largely by the net present value approach to accounting. This generally leads to too small a storage, too fast a rate of rise of the tailings, and difficulties in managing supernatant water. In turn, this results in wet and soft tailings deposits of high moisture content and low density, and the need for frequent and costly tailings dam raises. Further, such tailings deposits often do not facilitate closure and rehabilitation of the facility. Globally, there are on average over two failures annually of such tailings dams, resulting in loss of life, damage to infrastructure and environmental impact downstream, and the loss of company shareholder value and reputation. Recent high profile tailings dam failures are threatening the mining industry’s financial and social licence to operate.Among the physical processes that tailings undergo on sub-aerial deposition are beaching, hydraulic sorting down the beach according to particle size and specific gravity, settling, consolidation, and desiccation on exposure to the sun and wind. Beaching and hydraulic sorting have proved difficult to test at laboratory scale and difficult to model, and are best assessed in the field. Settling, consolidation and desiccation may be assessed at laboratory scale, but to date there has been an absence of tests to form the basis for the design and management of tailings deposition, and ultimate closure and rehabilitation. The paper describes recent advances in tailings testing methods, including a purpose-built slurry consolidometer that tests the settling and consolidation of tailings from a slurry consistency, simulating increasing tailings depth to about 50 m; and a purpose-built instrumented column that tests the settling, self-weight consolidation and desiccation of a surface layer of tailings, also from a slurry consistency. Selected test results from these two apparatus are presented in the paper, together with brief descriptions of how they may be used to better design tailings slurry deposition. In addition, planned further advances in tailings testing methods are briefly described.CITATION:Williams, D J, 2018. Recent advances in tailings testing methods, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 8–37 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By D. R. Wilburn

This summary of international mineral exploration activities for the year 2013 draws upon information from industry sources, published literature and U.S. Geological Survey (USGS) specialists. The summary provides data on exploration budgets by region and mineral commodity, identifies significant mineral discoveries and areas of mineral exploration, discusses government programs affecting the mineral exploration industry and presents analyses of exploration activities performed by the mineral industry. Three sources of information are reported and analyzed in this annual review of international exploration for the year 2013: 1) budgetary statistics expressed in U.S. nominal dollars provided by SNL Metals & Mining (SNL) of Halifax, NS, Canada (formerly Metals Economics Group (MEG); 2) regional and site-specific exploration activities that took place in 2013 as compiled by the USGS; and 3) regional events that affected exploration activities, including economic, social and political conditions, that were derived from published sources and unpublished discussions with USGS and industry specialists. Commodity and regional compilations are presented in this summary. Because multiple sources are used to develop commodity and regional compilations, reported statistics may vary depending on the source and type of data that are being reported. The SNL data summarize planned company budgets for worldwide exploration activities in 2013 for 20 nonfuel mineral commodities based on surveys returned by companies primarily focused on precious metals (gold, platinum-group metals and silver), base metals (cobalt, copper, lead, molybdenum, nickel, tin and zinc), bulk commodities (coal, iron ore, phosphate and potash), and specialty commodities (diamond, lithium, niobium, rare-earth elements, tantalum and uranium). Information on uranium exploration activities was included in the MEG overview for the first time in 2007. MEG included data on the commodities lithium, niobium, phosphate, potash, rare-earth elements and tantalum for the first time in 2010 because of the increased topical significance of these commodities. Since 1999, companies with exploration budgets of $100,000 and greater were included in the MEG and SNL compilations. SNL budget estimates exclude aluminum, coal, and oil and gas. Budget estimates for iron ore have been compiled since 2011 but reported separately. The post-1999 budget surveys by MEG and SNL cover at least 90 percent of world?s reported nonferrous, nonfuel mineral exploration budgets; the 2013 survey is reported by SNL to cover an estimated 95 percent of these budgets. The 5 percent that is not covered is accounted for by companies that chose not to participate in the SNL survey, private companies that do not publish their budget data, and government-funded exploration activities.

By Lluis F. Fontboté

The paper point out the deposits about the carbonate-hosted San Gregorio Colquijirca, as products of an epithermal high sulfidation system. Field, geochemical, and geochronological evidences suggest that the different ore types of the Colquijirca District are caused by a pulsed high sulfidation system subsequent to the emplacement of a diatreme volcanic complex. The first stage formed disseminated Au±Ag mineralization in areas affected by vuggy quartz alteration at Marcapunta. During a second stage, base metal mineralization replaced Eocene carbonate sediments from the Marcapunta diatreme to 2.5 km more to the north. San Gregorio and Colquijirca are to our knowledge the first "carbonate-hosted epithermal Zn-Pb high sulfidation deposit" recognized as such. The correct recognition of this ore type opens new exploration possibilities for base metal in high sulfidation systems affecting carbonate rocks.

Apr 24, 2001

Completion of a project requires two separate money-focused activities, namely economic evaluation of the cash flows underlying the project (before financing) and if the economics look promising, how it can be financed. Economic evaluation might be best led by a person with a technical-operating background, whereas financing might be best led by an accountant. Both should be presented in simple language with easy to understand models. Economic evaluation has a sad and bad history because it evolved from the fringes of accounting. Anyone can become a self-appointed practitioner. Some still take pride in mathematical complexity without realising that they distance themselves from the decision-makers and alienate other team members. Today there is no evaluation modelling consistency across the mining industry and this reflects poorly on our discipline. It is not tolerated amongst our peers in engineering and accounting. In 2009 æbest practiceÆ economic evaluation modelling is well defined. It is:easy to follow;tailored to its purpose;transparent;discipline, rigour and consistency;recording of all source data; and hencequick to audit. Mantra: If you cannot readily understand my model you do not have a problem, I do! The task of the economic model is to make the range of business cases underlying the decision easy to understand. Intellectual power is used to simplify the decision to its key issues and risks and to present the full range of possible business outcomes in readily understood terms. Project team members, management and the board must be able to make their decisions with æeyes wide openÆ. A steering committee should be established to develop a set of standards and practices that could be adopted for economic modelling within the industry. The industry needs to purge itself of the undisciplined economic evaluation modelling that now characterises the discipline.

Jan 1, 2009

By Roxanne Scott

Outline ? Overview of Community Investment in the Mining Sector ? Emerging Good Practice: ?Strategic Integrated Community Investment? ? Assessing Local Context: ? Institutional Assessment ? Partnership Assessment Approaches to Community Investment Isolation: No proactive engagement in community development Ad hoc philanthropy: small infrastructure, sponsorships, donations Strategic philanthropy: Community proposes options for development Company decides what to do and carries it out, e.g. building schools, health posts, roads Strategic integrated community investment: ? Aligned with government/community development goals and priorities ? Communities and government involved in decisions and execution ? Focused on training and capacity building ? Partnerships ? Continuation in absence of company support Measured returns on investment

May 1, 2010

By J. B. Morrow

Methods of Coal Preparation Fundamentally, the object of coal preparation is to increase, economically, the value of a fuel by making it more suitable to the uses of the consumer. This can be accomplished in three major ways: 1.Screening or sizing 2.-Mixrng or blending 3.-Cleaning By combinations of any or all of these methods we can prepare coal to meet standard specifications-a process of standardization which is the more desirable the more nearly it approaches the unvarying quality of packaged goods, where the package you buy today and tomorrow is the same as that you bought yesterday. It should be noted that it is readily possible to get good cleaning and still have poor preparation because of faulty screening and mixing, and, on the other hand, it is possible to get a passable grade of cleaning, combined with good screening and mixing facilities.

Jan 1, 1931

By G Corder

The aim of the circular economy is to accelerate the transition from a conventional linear take-make-dispose economic model to a circular model. It is restorative and regenerative by design and aims to keep products, components and materials at their highest utility and value at all times. This extended abstract presents a brief overview of the circular economy, provides application of the circular economy in other industrial sectors including the downstream metals value chain and proposes how circular economy thinking could progress the development of complex orebodies.CITATION: Corder, G, 2018. Can the concept of the circular economy help unlock complex orebodies?, in Proceedings Complex Orebodies Conference 2018, pp 8–10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

By H. D. B. Wilson

THIS PAPER has resulted from a preliminary draft of a background paper prepared anonymously for the Science Council's Special Study of the Solid-Earth Sciences in Canada. The draft was circulated to eighty-four Canadian geologists; forty-eight of these responded with criticisms of the draft. All critical re-marks were considered carefully and most have been incorporated in the final paper in an attempt to balance the author's bias, although this bias undoubtedly still appears. Indications of support for a particular statement or section were also helpful, because many of these contradicted criticisms and enabled the author to judge the consensus. Thus, all criticism could not be incorporated because the referees did not agree. It is interesting that some remarks were con-sidered overstatements by some and too bland by others. The most perplexing critical comment was one which suggested a new author was needed, and went on to name the existing author as the most likely candidate.

Jan 1, 1970

By A. J. DeArdo

Linepipe steels have come a long way in the past forty years. In fact, modern, high strength steels for large diameter linepipe applications represent one of the seminal accomplishments in metallurgy of the past half-century. The synergy of advanced steelmaking, alloy design including microalloying, hot rolling, and interrupted accelerated cooling has led to the marvelous steels being used today. The drive for higher performance pipelines has been motivated by the energy sector of our global economy who wanted both higher throughput capacity, i.e., larger diameters and higher pressures, and lower material cost, i.e., relatively thinner gauge wall thicknesses. These requirements led to new steels with higher strengths, better toughness and improved weldability. The goal of this paper is to trace the evolution of linepipe steels from the X60 grades of the small diameter pipelines of the 1960s to the (X80 - X120) grades used in the large diameter pipelines of today. The metallurgical triumphs permitting this success story, e.g., clean steel practices, controlled rolling, microalloying with Nb, and using IAC to obtain low temperature transformation products, will be highlighted and discussed.

Jan 1, 2005

By Paul Averitt

The coal-bearing rocks in Iowa occur in an arcuate belt across the central and southern parts of the State (fig. 1) at the northern end of the Western Interior coal field. Coal beds of minable thickness are sporadic throughout this area and are mined principally in the three districts indicated by dark shading on the index map, although coal occurs also in the areas indicated by light shading. The coal is mostly of high-volatile C bituminous rank in all parts of the State. SURFACE FEATURES The coal-bearing rocks in Iowa are concealed for the most part by a covering of glacial drift ranging in thickness from a few feet to several hundred feet. This covering has been dissected to form a gently rolling upland, rising from an elevation of 466 feet at the mouth of the Des Moines River to about 1,200 feet in Calhoun County in the central part of the State. The local relief, however, rarely exceeds 150 to 200 feet.

Jan 1, 1949