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By C. Nangolo

Mineral commodity prices comprise one of the key criteria in the selection of mining stocks. We contend that of the three principal elements of mineral commodity prices, spot price, forward price and long-term price, one has a greater impact on the share valuation processes used by investors. This research paper examines the extent to which each of these elements influences the valuation process. The intention is to provide investors in mining stocks with a greater understanding of how fluctuations of commodity prices over time affect the prices of the mining stocks they hold, or intend to sell or buy. Three mineral commodities, gold, silver, and copper, were used as case studies, since market data on these commodities is readily available in the public domain. Nine market indices covering all three mineral commodities were selected. These are based on clearly defined criteria with the intention of eliminating ambiguity and to test for correlation with the three sets of mineral commodity prices. Nine mining companies, which were not the primary drivers of the relevant indices employed in the study, were used to validate the results obtained from the indices in order to avoid duplication of the same correlation during cross-checking. Each commodity price was adjusted for operating costs. For each market index, an average operating cost was calculated from the companies comprising its basket, while each company?s annual operating costs were used for the stocks of the individual companies examined. The data was collected for the period January 2004 to October 2010. This period was further split up into three sub-periods to account for the Global Financial Crisis (GFC) period that started in mid-2008. We conclude that mining stock prices are correlated with mineral commodity prices, but with spot and forward prices exhibiting stronger correlations than long-term price. This finding should be useful for evaluation purposes. Where cash flow methodologies such as discounted cash flow or earnings per share are used to value ordinary shares and commodity prices are required to estimate future cash flows, the findings suggest that spot prices should be used as opposed to long-term prices. The work reported in this paper is part of a current MSc research study at the University of the Witwatersrand.

Jan 1, 2011

Operation of a pilot-scale Floatex density separator was studied using a pyrite concentrate slurry feed. Experimental measurements were further utilized in parameterization of a hindered settling simulation model. The model incorporates particle slip velocity calculation and also a separation efficiency function, adjusted to describe the feed material characteristics. The model was used to compute the overflow and underflow compositions when both fluidization bed pressure and teeter water flow rates were varied. In addition, prediction accuracy and the model validity were evaluated. The simulations gave good results when the teeter interstitial velocities were moderate enough to avoid excessive turbulence in the fluidization. Prediction of the cumulative overflow and underflow size distributions in most experiments yielded essentially less than 10% relative error between the sample data and the estimated value of the 50% passing sizes.

Jan 1, 2011

By M. Rossouw

The paper sets out the strategic importance of South Africa?s mining and minerals sector to the national economy. It relates how inexorable and accelerating urbanization and industrialization in emerging markets, especially in China and India, will translate into sustained demand for the minerals that South and southern Africa have in abundance. It warns that while countries buying raw materials from South Africa use these inputs as the basis on which to build value-added, employment-creating industries, South Africa is failing to exploit the economic benefits inherent in its mineral wealth, exacerbating its shortage of skills.

Jan 1, 2011

The relationship between the aspect ratio and physical fields in aluminium reduction cells wase studied numerically. The aspect ratio was firstly defined and 7 kinds of 320 kA cells with different aspect ratios were put forward. By using numerical simulation, the relationship between the aspect ratio and the electric-magnetic flow fields, magnetohydrodynamic stabilities, and thermal stability was discussed. It is concluded that the electric-magnetic flow field distributions are greatly affected by the aspect ratio. From the perspective of magnetohydrodynamics stability, the larger the aspect ratio is, the more stable the cell will be. A larger aspect ratio is more beneficial for the thermal stability under the same current density.

Jan 1, 2011

By Fu-Shen Zhang, Mengjun Chen, Jianxin Zhu

"In the present study, different types of cathode ray tube (CRT) glasses were examined by sequential extraction combined with TCLP to provide possible explanations for how Pb and Ba leach out from the waste CRT glasses and to give possible reasons for why they leach out. Sequential extraction results showed that Pb and Ba in the CRT glasses dominanfly presented as the residual fraction. The exchangeable fractions of Pb and Ba were extremely low, less than 0.01 % of the total content, but they were higher than those required by the regulation limits, 5 and 100 mg/L for Pb and Ba, respectively. TCLP tests of the original CRT glasses and CRT glasses residues after each step of sequential extraction demonstrated that the extremely high leaching toxicity of CRT glasses mainly caused by its exchangeable and carbonate fractions of Pb and Ba.IntroductionIn recent years, the amount of cathode ray tube (CRT) contained monitors or TV sets in the market were sharply reduced, since they were substituted by novel and better electronic and electric equipments such as LCD and PDP, leaving huge amount of end-of-life CRTs. 50-85% of the total weight of this kind of computer monitor or a TV set is glass[1,2], which was classified to three categories according to their chemical compositions: black & white glass (BW), color panel glass (CP) and color funnel glass (CF)[3]. In order to provide shielding from X-rays generated during the picture projection process, lead, barium and strontium oxides were used in the glass. In general, a color CRT contains 1.6-3.2 kg of lead . Therefore, these glasses have attracted wide and tense attention due to the potential risk to the environment and human health."

Jan 1, 2011

By William Gleason

The Dulles Corridor Metrorail Project is a $3-billion project that will link Dulles International Airport with the downtown center of Washington D.C. by way of a single seat train ride. The project is mostly above ground, but it does include two short, yet complex, tunnels through the area of Tyson?s Corner. The project is being completed in two phases. The Dulles Transit Partners (DTP), led by Bechtel, was awarded the first phase, a $1.6-bil-lion phase that includes 17 km (11 miles) of track with five stations. At Tyson?s Corner, the project includes twin 730-m- (2,400-ft-) long, 6-m- (20-ft-) diameter tunnels. Bechtel is self-performing construction for the $1.6-billion design-build job. Gall Zeidler Consultants was hired by DTP as designer for the NATM tunnel portion of Phase 1, and Beton-und-Monierbau was hired as tunnel subcontractor. Tyson?s Corner is an affluent and congested area that sits 152 m (500 ft) above sea level. To get through the area, it was decided that tunnels would be the best option with the least amount of disturbance to the surrounding areas. However, with extremely shallow groundcover above some points as well as soft soil throughout, the tunnels are also the most complex aspect of Phase 1. About 213 m (700 ft) was constructed utilizing the cut-and-cover method. The remaining 518 m (1,700 ft) is being constructed using the New Austrian Tunneling Method, which integrates the principles of the behavior of rock and soil masses under load, and monitoring the performance of underground construction during construction. ?The tunnel only falls 2 m (7 ft) from one end to the other and we pass through two soil conditions, they are both soft ground,? said Dominic Cerulli, tunnel task manager for Bechtel. ?Soft ground is very tricky because you have to close the ring in a timely manner to minimize settlements at the surface. If you don?t close the ring quickly to achieve a round structure that?s good in compression, the tunnel could start necking and squatting and the ground above it will settle. We are under major roadways, so excessive settlement would be a bad thing.?

Jan 1, 2011

By Z. Hyder, M. Karmis

Underground or In-situ Coal Gasification (UCG or UICG), though not a new concept, is now attracting considerable global attention as a viable process to provide a "clean" and economic fuel from coal. Applying improved UICG technology to gasify deep, thin, and low-grade coal seams could vastly increase the amount of exploitable reserves. However, it is imperative that further development of this technology is based on integrating UCG practices and potential environmental impacts with accepted sustainability frameworks and processes. This paper evaluates the potential of UCG to conform to frameworks such as MMSD (Mining, Minerals and Sustainable Development), Natural Step and Green Engineering, in order to define its "sustainable" potential. The paper also discusses the potential contributions of UCG to sustainability during its design, operation, closure, and post-closure phases.

Jan 1, 2011

By J. Chirasha

Keywords: Pyrometallurgy, ferrochrome, smelting, investment, Zimbabwe Four smelting plants currently make up the ferrochrome smelting capacity in Zimbabwe. Zimbabwe Alloys and Zimasco represent more then ninety per cent of Zimbabwe?s ferrochrome smelting capacity, while Maranatha and Oliken contribute the difference. Very limited investment in the sector (even for the expansion of existing smelters) has been experienced over many years, despite the fact that about 95% of the world?s chrome ore resources are in the Bushveld Igneous Complex of South Africa and the Great Dyke of Zimbabwe. The Bushveld has a greater quantity but a lower grade than the Great Dyke. A ten per cent increase in Zimbabwean ferrochromium production has been recorded in the past ten years, showing an almost stagnant capacity investment.

Jan 1, 2011

By Bruce K. Hebblewhite

Underground pillar extraction continues to be practiced in Australia in various forms, in spite of the dominance of the longwall method, which accounts for over 90% of underground production. Australia has been a leader in various forms of pillar extraction, particularly since mechanisation was introduced to the industry during the middle of the 20th century. Historical developments have included a range of thick seam mining pillar extraction methods; the widely adopted Wongawilli method; early adoption of the use of mechanized breaker line supports; and a number of more recent partial extraction systems including what is known as rib stripping. Current pillar extraction practice varies from total extraction panels to various forms of partial extraction, driven by either surface subsidence constraints or by underground conditions. This paper reviews a number of different pillar extraction methods and mining layouts, and also highlighting a number of fundamental geotechnical principles which have been found to be critical for safe pillar extraction ? often through lessons learned the hard way, as a result of back analysis of different accident scenarios. These principles include the all-important understanding of the location of the goaf (gob) edge at any point in the operation, and the management of that goaf edge; the impact of geological structures on local and regional stability; the critical importance of extraction lifting sequences; the role of stooks (remnant pillars); and a number of other factors. The paper will also briefly reference the educational and training practices adopted in Australia aimed at the continuous improvement of pillar extraction safety.

Jan 1, 2011

By Jian Li, Tiejun Chun, Jian Pan, Deqing Zhu, Vinicius Mendes

"A study of the coal-based direct reduction behaviors of composite binder magnetite pellets was carried out in a simulating coal-based grate-rotary kiln process. It is shown that preheated pellets possess much better reducibility than fired oxide pellets: 40 min are required for preheated pellets to reach over 90% metallization degree compared to 100 min for fired oxide pellets. The compressive strength of preheated pellets decreases dramatically at the earlier stage of reduction, climbs quickly after reducing for 30min and achieves a high value at the end of reduction. However, the compressive strength of metallized pellets from reducing of fired pellets is much lower, more cracks and fractures being formed. In the preheated pellets, crystallite of metal iron is coarse. In the oxide pellet, a large number of interconnected crystals of metal iron are formed inside pellets, and pellet structure is very compact.IntroductionDirectly reduced iron is an excellent feed in electric arc furnace (EAF) steelmaking, and possesses low tramp element content and steady component. It is generally preferred in the production of high quality steel [1-3]. Nearly 64.44 million tons of DRI were produced in 2009 over the world, over 80% of which were produced by gas-based processes, the left by coal-based processes. However, the DRI capacity was only 600 thousand tons in China in 2009. The EAF steel production has exceeded 40 million tons annually, and most of EAF operate on hot metal as feed [4]."

Jan 1, 2011

By M. Neises, M. Roeb, C. Sattler, S. Stenger

"A two-step thermo-chemical cycle process has been developed and investigated. It is based on metal oxide redox pair systems, which can split carbon dioxide as well as water molecules by extracting oxygen atoms and reversibly incorporating them into their lattice. If concentrated solar radiation is used as the heat source, a promising method exists to produce synthesis gas from water and CO2. An easy way of operation is gained by the combination of a ceramic substrate as the absorber structure, which can be heated to high temperatures with concentrated solar radiation, and of a metal oxide coating which is capable to carry out the redox reactions. The performance and kinetics of a ferrite based redox material coated on ceramic substrates were investigated in a laboratory set-up. CO2 could be reduced with significant conversions. In addition, several side reactions were observed like the formation of carbon and like the Boudouard reaction.IntroductionThe search for alternative energy carriers and for processes able to reuse carbon dioxide stimulates the research for sustainable routes of alternative fuel production. In the scope of this search thermo-chemical processes combined with sources of concentrated solar energy have become more and more attractive. Ideally, the only raw materials for such processes are water (H2O) and carbon dioxide (CO2) enabling not only a process free of emissions, but also allow to reduce emissions of other processes by reusing CO2 to provide synthesis gas, which itself can be applied to produce chemical commodities or even better synthetic fuels like methanol or petrol.In contrast to the direct splitting of those raw materials, thermochemical cycles split water and CO2 in several steps and enable hydrogen (H2) and carbon monoxide (CO) generation at temperatures controllable by today’s technical equipment. One of the most interesting thermochemical cycles is a two-step process using metal oxide based redox systems. During the first step of this cycle (the regeneration step) the metal oxide is reduced setting some of its lattice oxygen free according to reaction (1). In the next step (the splitting) the reduced and activated material is oxidised by withdrawing oxygen from water and CO2 and at the same time hydrogen and CO is set free according to reactions (2a) and (2b) respectively."

Jan 1, 2011

By Jeff Hiedeman, Clint Sestrich, Christopher Hyle

Westslope Cutthroat trout have declined in distribution and abundance across their range and currently occupy about 59% of their historic habitat. Due to hybridization with non-native species such as rainbow trout, genetically pure populations persist in only 10% of that range. A westslope cutthroat trout population with relatively high genetic purity (97%) and conservation importance persists in less than two linear stream miles in the headwaters of the South Fork Madison River in southwest Montana. The relative purity of this population has been maintained through the presence of a downstream intermittent reach. However, spring flows fill the intermittent reach, creating a connection between occupied westslope cutthroat trout habitat in the headwaters and the habitat of competing trout species downstream.

Jan 1, 2011

By Akira Usui

The details in small-scale variability of the geological occurrence and chemical composition of ferromanganese crusts are not yet well understood, although the northwestern Pacific seamounts are believed to be among the most promising areas for rare metal resources. Our belief is that geological observations and geochemical analyses are still insufficient for economic evaluation or for discussion of depositional processes and environments. Our team, composed of geologists, mineralogists, geochemists, physical engineers, and microbiologists has attempted to utilize an ROV for in-situ measurement and for sampling of undisturbed and uncontaminated ferromanganese crusts at three typical seamounts in the NW Pacific near the Japanese Exclusive Economic Zone. The first ROV geological survey of ferromanganese crusts was successfully completed, and the ROV proved to be the most powerful, efficient and elegant method to date. The collected samples (more than total 1 ton of crusts, at more than 100 sites along a total of approximately 10 km of survey lines) were most suitable to analyze water-depth dependency and secular variation of their composition. The intact surfaces of crusts, collected without the usual abrasion caused by dredging, were also valuable for microbial study of Mn oxidizing bacteria. The ROV sampling devices, however, can be improved with further sophisticated drills or rock saw blades in the future.

Jan 1, 2011

By De-qing Zhu, Jian Pan, Tie-jun Chun, Dong Chen, Yu Cui

"A study of processing pyrite cinder and metallurgical slag using “one step” technology in strand grate - rotary kiln is presented, which aims to efficiently recover the valuable metals of iron, lead, zinc and copper. The effect of chloridizing roasting parameters including roasting time and temperature on the removal rates of nonferrous metals was investigated. It is shown that copper and zinc are difficult to remove and lead is removed more easily. The preheated pellets were reduced in a rotary kiln, where zinc and lead can be removed easily and high iron grade and good metallurgical performance prereduced pellets can be obtained. Furthermore, the chlorination and the reduction mechanisms of copper, lead and zinc are discussed. It is revealed that the phases of copper, lead and zinc in slag are complex and ferrite and silicate of metals are difficult to remove.IntroductionAs two kinds of significant secondary resources, metallurgical slag and pyrite cinder contain not only abundant iron but also considerable copper, lead, zinc and so on. Several tens of millions of tons of metallurgical slag and pyrite cinder are discharged in nonferrous metal and chemical industries annually in China [1, 2]. In addition, the accumulated waste slag in storage is more than one hundred million tons, which not only occupies much land but also pollutes the environment [3]. However, because the metallurgical slag and pyrite cinder are treated by high temperature processing, the properties are distinctly different from the properties of natural ores, and iron is in close association with copper, lead and zinc. So, metallurgical slag and pyrite cinder are difficult to efficiently utilize and only a small amount is used as additives in cement, paving, brickmaking and auxiliary additives [4-7]."

Jan 1, 2011

By Qing-hua Tian, Li-then Cheng, Xue-yi Guo

In order to recycle valuable metals from silver separated residue, a novel method using alkaline smelting at low temperature was proposed. The main factors affecting the main metal recovery such as the smelting temperature, smelting time, liquid-to-solid ratio and alkali addition were investigated comprehensively. The behavior of the main metal elements, such as Pb, Sn, Sb and Bi in silver separated residue was also discussed. The results indicated that amphoteric metals such as Pb and Sn can be smelted into the melt, while other metal elements, such as Sb and Bi were left in the residue.

Jan 1, 2011

By Guohua Bai, Mingjun Rao, Jianchen Lim, Guanghui Li, Tao Jiang

"By using thermogravimetry, optical microscope and chemical phase analysis, the solid-state reduction of carbon-burdened chromite pellets in the absence and presence of additives were investigated. The effects of reduction temperature, reduction time and additives on the metallization of chromite pellet were studied. The results indicate that the pre-reduction ratio of carbon-burdened chromite pellets is improved with the increase of reduction temperature and the addition of additives. The metallization of chromium is increased from 63.9% to 92.8% at 1300 °C for 4h with the addition of 2 wt.% of sodium borate. Investigation suggests that the reduction of carbon-burdened chromite pellets is diffusion controlled. The apparent activation energy without additive is 192.1 kJ/mol, while it decreases to 170.4 kJ/mol in the present sodium borate.IntroductionFerrochrome is used to produce high strength, corrosion resistant, wear-resisting, high temperature resistant and oxidation resistant special steels, and it is becoming one of the most important alloy materials for the production of stainless and high alloying ferritic steels [1-5]. Demand for ferrochrome is steadily on the rise due to the growth of stainless steel industry. Nowadays, more than 80% of the world's ferrochrome is utilized in the production of stainless steel [6-7].Ferrochrome is mainly produced in submerged-arc furnaces (SAF) with chromite lump ore. However, lump ore merely accounts for 20% of the chromite ore output, while fine ore (< 8 mm) accounts for about 80% [8]. Therefore, agglomeration of chromite fine ore is necessary before charging into SAF."

Jan 1, 2011

By Shengli Yang

Solid backfill mining, as a green mining technology, has the advantages of a higher resource recovery, less damage to the environment and the ability to dispose of waste underground. It has been applied successfully in the Xingtai and Xinwen mining areas in China. Strata behavior and the movement of overburden strata in this mining method are very different from fully mechanized longwall mining, which results in a natural caving, because the gob is filled with waste rock, fly ash and other backfill material. The results of field measurements showed that the periodic weighting interval of the main roof is longer; the magnitude of periodic weighting is smaller; the peak and zone of influence of the front abutment pressure are smaller than those in fully mechanized mining; that major deformation of mine roadways occurs within the influence zones of the abutment pressures; that the falling space of immediate roof is smaller, with the lower portion falling more sufficiently than the upper; that the main roof subsides slowly; and that the falling height of the overlying strata is greatly reduced.

Jan 1, 2011

By D. Brandt

The Dos Pobres Mine is a copper oxide heap-leach operation located near Safford, AZ. Mine production is 163 kt/d (180,000 stpd) with a stripping ratio of 2:1. During the startup phase of the mine, the required fragmentation size was easy to achieve as the ore was highly weathered and fractured near the surface. As the mine depth increased, the proper fragmentation size became harder to achieve due to less weathering and different rock types. Because copper recovery increases as crusher product size decreases, achieving the appropriate product size at the crusher is the operating priority. The engineering department began a project to improve fragmentation through blasting and thus increase throughput in the crushing system. It soon became clear that input from other departments was going to be required to make this a safe and economical project. Therefore, the crush and convey and ore control departments worked together to evaluate all available data on blast patterns and explosive loads and tracked performance and results. Using image analysis, drill energy index and databases, improved fragmentation size has been achieved and results have been verified while controlling costs.

Jan 1, 2011

By F. Baldini, M. S. Borges

"The proposed method emphasizes the optimization of waste management with regard to the exploitation of raw materials incorporated in the remains of industry, as well as the economics of natural resources as an environmental impact assessment. This system [tool] allows: (a) the conversion of an environmental liability into an asset by finding a line of appropriate research for each type of waste and the development of new materials applicable to other industries, (b) the performance of internal control of the waste generated (production, storage, final destination) as well as legal conformity.Objectives:1.1 General objective:To design a collaborative system for socio-environmental management of industrial waste.1.2 Specific objective:Develop evidence of concepts;Evaluate the deployment of the inventory of waste in an industry;Enable the conversion of an environmental liability into an asset by finding a line of research appropriate to the waste: a case study;Evaluate the environmental legislation in the legal mechanisms that influence company decisions.IntroductionThe global economy is undergoing major changes, among these changes; it should be highlighted those related to technological progress and environmental quality.While the industrialized countries and higher levels of economic growth dominate modem technology, developing countries are identified by a different growth pattern, using the annual growth rate of Gross Domestic Product per capita [3, 18].Growth is when the GDP grows, in percent, over the previous year. Development, on the other hand, is when the countries change their technologies and improve their internal structure. Thus, the growth considers the accumulation of wealth, while the development is concerned with the distribution of wealth, improvement of the quality oflife and environmental quality [3, 18].As the UNESCO report shows (1999), the biggest problem is between consumption and development, what is produced and the end that is given to the product. Therefore, product and by-product have equal importance in the quantity produced [29].On one hand there is a positive relationship between indicators of economic growth and technological progress, however, on the other hand, these transformations are a paradox, confirmed by the dramatic use of environmental resources and the lack of technologies for recycling of industrial scrap."

Jan 1, 2011

By A. Shtiza

This literature review discusses the role of the Albanian institutions, the natural resources industry, potential investors and stakeholders in order to provide a set of indicators that can help to monitor amelioration within sustainable development principles. A map with the potential prospects of the natural resources will be a first step in identifying the further potential for exploitation. Mineral resource policies and governance, sustainable processing and supply chain as well as environmental management information system are some of the crucial tools identified, that will help to set up the indicators and quantify the achievements in environmental management in Albania. Moreover, the integration of practices that will support institutional capacity building; follow-up practices; the mainstreaming of global environment into planning; and the compliance monitoring process will additionally improve the environmental situation in Albania. Aligning business strategy with environmental policy, socio-economic analysis, environmental auditing are decisive tools in order to provide the Albanian authorities with a clear overview of the economic costs and the social benefits for sustainable development.

Jan 1, 2011