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"How Wall Street Darling Molycorp Undermined the U.S. Economy, Degraded our National Security and Distorted the Global Economic Balance and How These Falsehoods Continue to be Promoted Even Today INTRODUCTION & SUMMARY In 2007 the Molycorp Mountain Pass rare earth mine was resurrected from its desert-grave in California by its then-owner Chevron Mining. Responding to elevated rare earth prices Chevron began processing on-site rare earth concentrates left over from past mining operations that were terminated in 1998i. Chinese demand had sparked what was being described as a commodities super-cycleii. Commodity prices were on the move. Wall Street smelled opportunity. In 2008 Goldman Sachs, Pegasus Partners, Resource Capital Funds, Traxys North America LLC and Carint Group LLC acquired the mining assets from Chevron. In an environment of ever-declining ethical standards and regulatory consequences the private capital group and their investment bankers would bring Molycorp to market. Molycorp, with its high powered investment banking team of Morgan Stanley and J.P. Morganiii, easily dominated the contest. Molycorp promoted itself, largely based on its past operating history and proven reserves, as the best company to challenge China’s monopoly control over the production of rare earths: a group of elements critical to most advanced technologies and U.S. defense systemsiv. Most of Wall Street’s hottest investment sectors were dependent on these materials: alternative energy, green technologies, computing, personal communications, advanced electronics and defense systems. By late 2010 there were dozens of prospective rare earth start-up ‘mining companies’ seeking capital. Eventually the number of prospective rare earth mining companies seeking capital exceeded 400, despite the reality that supply requirements of this market were disproportionally small when compared to other natural resource sectorsv. In the world of finance ‘smart money’ picks the winners. Consequently just twovi projects attracted nearly all of the capital (Molycorp and Lynas). Wall street picked Molycorpvii. This paper will primarily focus on Molycorp. By early 2010 the words “Molycorp” and “Rare Earths” electrified many people in the mining industry, most non-Chinese manufacturing technology companies, U.S. & allied defense contractors, technocrats in the U.S. national security community and eager investors across most of the world’s stock markets. It was the hottest story of the yearviii. The financial, technology and defense press coverage verged on euphoric: heaping fuel on fuel until the highly combustible Molycorp-pyre cast a long shadow over all of its rivalsix. When the IPO match was lit the spectacular flaming pyre sucked all of the oxygen out of the rare earth spacex. Molycorp was ranked the most lucrative IPO of 2010, resulting in record breaking profits to its private investors and massive returns for its early stock holding investors."

Jan 1, 2017

By Virgil A. Bilyeu

The Pan American Mine, in southeastern Nevada, is about 26 miles west southwest of Pioche, Nevada, and about 266 miles southwest of Salt Lake City, Utah. The mine is located in the Comet Mining District, and since the ore occurrence is generally the same in the Comet and well known adjacent Pioche Mining Districts, the history of the two shall be considered the same. The Pioche District began about 1869 with the production of high grade gold and silver from fissure veins in the Cambrian Prospect Mountain quartzite. Peak production was reached in 1872 and then declined with sporadic production until 1924, when Combined Metals Reduction Co. shipped its first, complex sulphide ores mined from the CM bed at Pioche. Extensive ore bodies in this CM bed attracted interest in the same bed in the Comet District. Small pockets of high grade silver-lead were mined from fissures cutting the CM and other limestone beds above. Exploration in the CM beds at this time proved a large area of mineralization too low grade to be considered ore.

Jan 1, 1967

By W. Rocher

The Minera Ojos Del Salado (?MINOSAL?) concentrator is located 20 kilometers southeast of Copiapo, Chile and processes copper ore provided by its Santos and Resguardo mines at a capacity of 4,200 tip (4,620 stpd). Phelps Dodge acquired the majority interest in MINOSAL in 1982. The principal incentive for this purchase was the exploration potential of the property. At that time, the concentrator plant was a small, antiquated installation with a capacity of 674 t/d (740 stpd). In 1982, the majority of the ore was produced from the Santos and Resguardo mines, but custom ores of copper, silver, and gold were also treated. The acquisition occurred at a crucial time in the copper business, since the price had fallen to nearly $0.50 per pound. In 1985, Phelps Dodge purchased the outstanding interest in MINOSAL and acquired 100% of the property. Today, after numerous improvements and two expansion projects, the concentrator is an interesting combination of old and new equipment. The regrind mills, for example, have been in service for about 50 years, while the ceramic concentrate filter represents the latest technology.

Jan 1, 1993

By Wen Tao Liu, Tong Tian, Fu Sheng Niu, Xiu Man Liang

In order to address the difficulty of accurate segmentation of froth images of different sizes, a method of froth image segmentation based on highlight correction and parameter adaptation is proposed. First, a machine vision system on a single-cell flotation machine is built to collect froth images. Homomorphic filtering is used to improve the uneven brightness and shadow of the images. Fuzzy c-means (FCM) clustering is then utilized to classify similar highlights that belong to the same froth. After Otsu threshold segmentation, a parameter-adaptive morphological operation is used to extract the marker points and edge bands and correct the froth edges in the original image. Finally, the modified image is filtered by morphological reconstruction, and the highlight mark is used as the local minimum point for watershed segmentation. Three sizes of froth images are segmented in comparative experiments. The results show that the proposed method is suitable for the segmentation of froth images of different sizes. The position of the extracted segmentation line is close to reality, with average over-segmentation and under-segmentation rates for froth images of 2.6% and 6.8%, respectively. The froth image segmentation performance is stronger than that of the other methods examined.

By E. J. Haas

DISCLAIMER The findings and conclusions in this paper are those of the authors and do not necessarily represent the views of the National Institute for Occupational Safety and Health. Reference to specific brand names does not imply endorsement by the National Institute for Occupational Safety and Health. ABSTRACT Leadership is a critical component to an organization’s safety culture and influences the ways that health and safety is enacted on site. Therefore, it is not surprising that improving leadership will also improve safety. Worker perceptions of management practices are shaped through unique leader-employee interactions over time. However, few details are known about the communicative support (i.e., emotional, informational, and tangible) offered by supervisors and its impact on miners’ perceptions and performance. Using pre and post-interview data with 20 supervisors and 48 workers during six-week interventions, researchers identified positive and negative instances of supervisor support and its implications on worker performance. This paper highlights the common support tactics offered by supervisors and desired by workers to help practitioners identify ways to improve their safety culture and subsequently, the proactivity and compliance of their workforce. INTRODUCTION Supervisory leadership is a critical component to the effective implementation of an organization’s health and safety management system (HSMS). Specifically, supervisors serve as representatives of an organization and their actions are indicative of the organization’s safety culture (Eisenberger et al. 1986). Senior management has been shown to serve as a frame of reference for guiding safe behaviors in the workplace (Mearns et al. 1998) and, more recently, research has related supervisory enforcement to workers’ safety compliance (Petitta et al., 2017). Therefore, it is not surprising that by improving leadership, perceptions of management and subsequent safety outcomes are likely to improve as well (Zohar, 2002). Perceptions of management are shaped through unique leader-employee interactions over a period of time (Hofmann and Morgeson, 2004, 1999). How these unique interactions impact worker performance, however, remains unexamined. As a result, understanding how supervisor-employee relationships operate in high-risk environments is unclear (Mirza and Isha, 2017; Denis et al., 2010). A starting point to better recognize the idiosyncrasies of these relationships is by way of examining the communicative support offered by front-line management and received by industry workers. To this end, this paper uses pre- and post-interview data to study the communicative aspects of supervisor-employee interactions at mine sites. The analysis uses a social support framework to identify positive and negative instances of supportive communication. From interview data with 20 managers and 48 mineworkers, data emerged that shows how supervisors’ unique types of support contribute to workers’ perceptions, motivation, and follow-through of safe work behavior.

Jan 1, 2019

By Sam Rosenblum

The anomaly ratio is obtained by dividing the analyzed value of an element by the anomaly threshold value of the element. The sum of anomaly ratios for all anomalous elements in a sample may be compared with similar sums for other samples, so that the samples having the greatest anomaly-ratio totals can be recognized easily. In partial or full-suites-of-ore-elements the use of anomaly ratios is more meaningful than analyzed values because the ratios quickly indicate anomalous elements and call attention to samples and localities that should be investigated.

Jan 1, 1980

By Donald E. Warnken

The Study concerns the estimation of fair market value (FMV) of non-producing mineral rights. Two approaches to value are used and the values determined by each are compared. The Study area environment is unusual. The tectonics is visible on surface rocks throughout much of the study area. The effect on mineral values in the exposed areas has been compared to areas where the tectonics is not visible.

Jan 1, 2005

By D. Castillo

The effectiveness of a flotation column is due principally to the addition of wash water to the froth phase. The wash water flow rate can be significant, especially so for systems yielding a high weight recovery of fine solids, e.g. zinc sulfide flotation. Therefore, it is critical to recognize and assess the impact of the water addition upon upstream separation stages. This paper examines column flotation circuit configurations using data from a portable 2 t/day pilot plant. The objective is to provide an improved basis for column design, either as a retrofit or as part of a new circuit.

Jan 1, 1990

By Matthew Preedy, Anthony Pooley, Mike Wongkaew, Dirk Bakker, Raghu Bhargava

Sound Transit’s ST3 program will add 62 miles of light rail to the Puget Sound area, including connections to the neighborhoods of West Seattle and Ballard. These connections include considerations for both elevated and tunnel alternatives in West Seattle and Ballard, as well as a new tunnel and six underground stations in the densely developed downtown Seattle. This paper describes the conditions and constraints along the corridor, and the latest development in the ongoing process to plan the underground guideways and stations.

Jun 13, 2023

By Ricardo Oliveira Gallart de Menezes, Claudio Gerheim Porto, Reiner Neumann

The Jiboia heavy mineral sands deposit is a new discovery associated with the São Francisco River delta on the northern coast of Sergipe state. The identified resources are part of the much larger mineralized trend. Mineralization is hosted in paleodunes deposited on Holocene marine terraces (Fig. 1). The dunes are up to 30 m above sea level, and mineralization occur from 6 m above sea level upward. The main ore minerals constitute pseudorutile, ilmenite, zircon, rutile and monazite. This work presents a thorough characterization of the mineralogy and granulometric distribution of the Jiboia orebody.

Apr 1, 2024

By Stephen Slot Odgaard, Simon D. Taylor

Phase One of Copenhagen Metro opened on October 19th, 2002 and is already a great success. 11 stations are open and Phase Two with 6 additional stations will open during 2003. Phases One and Two include 21 km dual track, whereof 10 km is in tunnel. 17 stations (six deep, three shallow, and eight above ground) will service passengers with trains running at 90 seconds intervals. This paper will discuss the various aspects of the Metro, where construction methods include TBM bored, NATM, Cut & Cover, Secant Piles and Diaphragm Walls.

Jan 1, 2003

By James R. Miller

This paper will describe the balling disc operation of the Marcona Mining Company at San Nicolas, Peru, with special reference to green ball quality. The report covers experience during the period of September and October 1965 and will be, more a state-of-the-art at Marcona report rather than -a technical treatise.

Jan 1, 1966

By Brian F. Osborne

A continuous on-line particle size analysis system for solid/liquid suspensions is described. The basic sensor utilizes a centrifugal principle to separate particles according to size, the resultant separation being measured by means of beta-ray attenuation. Results obtained when analyzing a variety of materials at sizes from 65 mesh (210 microns) to 20 microns are discussed in de- tail. Accuracies better than 2% are demonstrated. The effects of particle specific gravity, and mixtures of materials of diverse specific gravities, are discussed from a practical and theoretical viewpoint. It is demonstrated that particle specific gravity has a minimal effect on the size reading obtained. This renders the instrument suitable for handling materials where the ratio of light to heavy component may change. The design of the first commercial installation of this instrument is described in detail. This installation will be capable of analyzing three streams in sequence, measurement at three particle sizes being effected on each stream.

Jan 1, 1973

By K. Biswas

For the pillars, which have been standing long after mining, the stability depends much on the weathering action in the presence of mine moisture. From the field observations, it has been found that this weathering action becomes critical in terms of pillar stability if the coal seam contains partings or binders in it. The weathering action degrades both the partings and coal in terms of their load bearing capacity as the mine moisture penetrates into them. This paper investigates the effect of weathering action on coal and partings in the laboratory. In the field, the strength profile in the coal and the partings and the effect of time (in terms of the pillar age) on them have been studied by using borehole penetrometer. In this paper, an attempt has also been made to establish formulae for time dependent strength of coal and partings.

Jan 1, 1997

By Osvaldo A. Bascur

Standards and technology for bringing information to the desktop have greatly evolved in recent years. The benefits to be realized depend on how these new tools are embraced at the performer level. A key operating challenge is to ensure cooperative effort is geared towards the most efficient achievement of identified operating and corporate objectives. Presentation, application and database layers are emerging in successful client/server applications, the three-tier architecture.

Jan 1, 1996

By E. Medina, W. Callupe, R. Sharon

Slope stability in Barrick’s Pierina Mine open pit is significantly influenced by the structural geology, the variably argillized rock mass, and locally by perched groundwater. Development of an extensive surface water diversion network continues at Pierina, which is necessary to minimize highwall and adjacent natural landslide movement and erosion during the wet season. Slope movements are effectively monitored using optical survey methods, strobe light extensometers, gap monitors, and piezometers. The slope stability program at Pierina is focused on improving the understanding of the stability mechanisms in order to ensure continuous safe operating conditions. Priorities are placed on developing an accurate detailed engineering geological model, enhancing groundwater depressurization, and optimizing highwall controlled blasting procedures.

Jan 1, 2003

By Christine E. Turner-Peterson

Pore-filling organic material concentrated uranium to form sandstone-hosted primary uranium deposits in the Jurassic Morrison Formation of the Grants uranium region, New Mexico. Petrographic observations and radiometric ages for primary ore in the Westwater Canyon Member require that the organic material was emplaced early in the diagenetic history of the host sandstone; in fact, organic material was emplaced before major compaction. This inferred early emplacement constrains models concerning the nature and origin of the organic material and thus also constrains models of ore genesis. Reconstruction of the burial history of the basin indicates that Late Jurassic-Early Cretaceous time, the interval of inferred emplacement of the organic material, was probably not a time of hydrocarbon generation and migration. Nuclear magnetic resonance analyses, elemental abundances, and isotopic studies provide further constraints on the nature of the organic material, and data from these studies are consistent with a humic acid rather than an oil origin. In addition, the overall tabular shape of primary uranium orebodies and the way these orebodies are suspended in the host sandstone mimics Recent deposits of humate, the precipitated form of humic acids. The critical clue that favors a humic acid origin for ore-related organic material is provided by the nature and patterns of postdepositional alterations that are spatially and temporally related to primary ore, specifically destruction of detrital magnetite and ilmenite (iron-titanium oxide) grains. Humic acids are implicated in the destruction of iron-titanium oxide grains because these organic acids are one of the most effective natural agents in leaching of Iron from these grains. Thus, timing constraints, chemical evidence, orebody geometry, and the nature and patterns of ore-related alterations favor a humic acid origin and suggest that an oil origin is highly unlikely. Because alteration of iron-titanium oxide grains tracks the pathways of humic-bearing solutions through the host sandstones, it is possible to trace these solutions back to their source. Alteration patterns in the Westwater Canyon Member suggest that the humic-bearing solutions originated as pore fluids in the mudflat facies of the overlying Brushy Basin Member and moved into adjacent sandstones during early dewatering of the mudstones. The humic acids precipitated, by the process of cation loading, in tabular layers. Uranium was concentrated within these tabular layers by complexation with the humic acids to form primary uranium orebodies.

Jan 1, 2013

By Eugie Kabwe

The increase in depth of mines due to the depletion of surface deposits leads to unsafe tunnel construction and overall ore extraction. This is due to tunnel instability associated with the surrounding rock mass’s ability to exhibit creep that occurs over time. However, the explicit description of this mechanism using conventional constitutive models has proven to be difficult and inadequate. Hence, this paper presents an integrated viscoelastic viscoplastic visco-damage model with the Duvaut-Lions function. The presented model is calibrated by experimental data to determine the viscoelastic viscoplastic and visco-damage parameters. It is further implemented in a finite volume numerical code and verified on an experimental scale by numerical modeling of a cylindrical specimen. It describes the 3-phase creep mechanism perfectly as compared to the inbuilt conventional integer-order derivative model. Results from the conducted verification show that it can successfully be employed to describe the long-term behavior associated with the creep mechanism.

May 16, 2021

By Jin Dai, Xianwen Geng, Hao Liu, Pu Wang

To investigate how deformation failure occurs in roadways surrounding rock, the relationship between cohesion and plastic shear strain of the strain softening model and the equation for calculating the shear strain of a rock mass in the ultimate elastic state are derived. On this basis, the equality relationship between the built-in maximum shear strain increment and cohesion of FLAC 3D was established to give a more intuitive picture of how the cohesion of the roadway surrounding rock changes. The cohesion attenuation and deformation of the surrounding rock are analysed. The results show that significant deformation in the roadway surrounding rock was caused primarily by the development of large areas of highly softened plastic rock masses towards residual strength. Taking the floor overhead-mining roadway under different rock pillar thicknesses (RPTs) in the Xinglongzhuang Coal Mine as an example, the results demonstrate that investigating the cohesion distribution inside the roadway during mining operation can provide a more intuitive, more accurate description of the degree of failure of the surrounding rock at any point of the roadway, as well as the overall failure range of the surrounding rock. The simulation agrees well with the field monitoring result and seems to be more practically useful than simply analysing the coverage of shear plastic zones. Based on the failure range and degree of roadway surrounding rock with different RPTs, three support schemes are designed. Classified support was implemented for roadways under different RPTs, which realizes the effective control of roadway surrounding rock.

Jan 16, 2022

By JOHN HOMER, Jacob L. Carr, Jonathan K. Hrica, Kathleen M. Stabryla, Iman Benbourenane, Jennica L. Bellanca

Given the recent focus on powered haulage incidents within the US mining sector, an appraisal of collision avoidance/warning systems (CXSs) through the lens of the available research literature is timely. This paper describes a rapid review that identifies, characterizes, and classifies the research literature to evaluate the maturity of CXS technology through the application of a Technology Readiness Assessment. Systematic search methods were applied to three electronic databases, and relevant articles were identified through the application of inclusion and exclusion criteria. Sixty-four articles from 2000 to 2020 met these criteria and were categorized into seven CXS technology categories. Review and assessment of the articles indicates that much of the literature-based evidence for CXS technology lies within lower levels of maturity (i.e., components and prototypes tested under laboratory conditions and in relevant environments). However, less evidence exists for CXS technology at higher levels of maturity (i.e., complete systems evaluated within operational environments) despite the existence of commercial products in the marketplace. This lack of evidence at higher maturity levels within the scientific literature highlights the need for systematic peer-reviewed research to evaluate the performance of CXS technologies and demonstrate the efficacy of prototypes or commercial products, which could be fostered by more collaboration between academia, research institutions, manufacturers, and mining companies. Additionally, results of the review reveal that most of the literature relevant to CXS technologies is focused on vehicle-to-vehicle interactions. However, this contrasts with haul truck fatal accident statistics that indicate that most haul truck fatal accidents are due to vehicle-to-environment interactions (e.g., traveling through a berm). Lastly, the relatively small amount of literature and segmented nature of the included studies suggests that there is a need for incremental progress or more stepwise research that would facilitate the improvement of CXS technologies over time. This progression over time could be achieved through continued long-term interest and support for CXS technology research.

Jun 17, 2022