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By M. R. Samis

The great variability of mineral and energy prices has motivated some governments to incorporate a windfall profits tax into their mineral taxation regimes. Windfall profits taxes are a means for governments to capture additional mineral revenue when mineral prices are considered higher than some historic level. Governments need to be aware of the effects of such contingent taxes on the exploration, development and operating decisions of mining companies. Mining companies need to be able to calculate the full impact of windfall profits taxes on the economics of their projects. This paper examines the valuation of a multi-phase copper-gold project in the presence of a windfall profits tax. Real options Monte Carlo simulation is used to characterise the different exposures of the mine owner and of the government to the risky cash flow streams that they receive from the project. The results highlight that Monte Carlo simulation paired with the real option valuation method is able to account appropriately for the differing risk exposures, while the traditional discounted cash flow valuation model is not. Our key conclusion for governments and mining companies is that the impact of contingent tax and royalty terms can and should be assessed using advanced valuation techniques, and the results used to improve contract designs under the constraint of actual and perceived fiscal system stability.

Jan 1, 2007

W. M. PEIRCE, Chairman J. L. CHRISTIE, Past-chairman E. H. DIX, JR., Vice-chairman ALBERT J. PHILLIPS, Vice-chairman E. M. WISE, Secretary International Nickel Co., Bayonne, N. J. W. M. CORSE, Treasurer Executive Committee W. H. BASSETT, JR. R. H. LEACH' D. K. CRAMPTONR. F. MEHL J. A. GANN W. E. REMMERS G. O. HIERS H. J. ROAST JEROME STRAUSS Finance Committee J. L. CHRISTIE, Chairman W. M. CORSE C. H. MATHEWSON T. S. FULLER H. S. RAWDON

Jan 1, 1934

By Dale S. Preece, J Paul Tidman, Stephen H. Chung

A discrete element computer program named DMC-BLAST (Distinct Motion code) has been under development since. 1987 for modeling rock blasting (Preece & Taylor, 1989). This program employs explicit time integration and uses spherical or cylindrical elements that are represented as circles in two dimensions (2-D). DMC-BLAST calculations compare favorably with data from actual bench blasts (Preece et al, 1993).

Jan 1, 1998

By Morris E. Fine, Richard A. Kloske

The stress-strain beha1,ior in tension of Au-Ag alloy single crystals containing nominally 1,3, 5, 95, 97, and 9.9 at. pct Ag was studied uS strain role and lektlperalure down lo 4.2K. A slrain aging yield hob lc,rrs observed on aging under stress in the temperature range 30° lo 75°C. The species diffusing to the dislocation is thought to be a divacancy-solute complex wilh /he. solute then pinning the dislocation by short-Range ovdering and possibly Suzuki locking. At room tempevullcve the critical reso1ved shear stress .follo~c.s an empirical equation of the form tc = A +Bc' where A and B are 90 and 420 ,g per sy mm tor gold base alloys and 60 and 510 g p~r sq )11ttz .tor si1ver base alloys. This strengthening was attributed to a long-range size ejtect. The alloy slrenglliening at i.2'K is greafer than at room temperature. The additional atrloutzf was altribuled lo a uwak skovl-range i?~levacIion between the solute and dislocallon cove. The activation energy .tor deformation a/ 4.Z0h7 decreases on alloying. 11 increases irr other fee systetns. hi the 5 at. pcl Air-Ag- alloy in pmvlicular there is very extensive easy glide and lavge overshooting- of the synmetry line at 4.Z°K. There is also u sharp decrease in the vale of. strain hardenitlg near the widdle of stage II with the new rate bezng abold the sarne as tlzal In easy glide. This uws attributed to a sudden reduction of activity on the pvitrrarg sgstertr. In Au-Ag alloys the critical resolved shear stress Tc. at room temperature is essentially a parabolic function of atomic concentration:' the 50 at. pct Ag-50 at. pct Au alloy is about 10 times stronger than the pure metals. This strengthening occurs in spite of the similarity in valence and atomic size. Solid-solution strengthening in fcc metals is characteristically greater at low temperatures than at room temperature. In Ag-10 at. pct Au and Au-10 at. pet Ag; r, (20.4K)/Tc (300°K) is 2.3 and 2.5. respectively.- compared to 1.2 in pure silver.3 Suzuki' and Flinn5 explained the alloy strengthening at room temperature as a combination of Suzuki locking and short-range order hardening. The agreement between the computed and measured strengthening was very good: however, in Ag base-A1 alloys Hendrickson and Fine6 concluded that Suzuki locking resulted mainly in a yield drop effect. Recent reviews of the solid-solution strengthening in fcc metals by Fleischer2 and Haasen8, 9attributed the strengthening at room tenl-perature to the combined effect of atom nlisfit and change in shear modulus 011 the long-range stress field surrounding a dislocation. The parameter used by Fleischer was The shear tnoduli of Ag-0 to 6 at. pct Au alloys were measured by Pur-wins. Labusch. and Haasen.In While addition of 4 at. pct Au caused an appreciable increase in the C,, elastic constant. there was a decrease on increasing the solute to 6 at. pct Au: C,, and C :: were not measured in the 6 at. pct alloy. The greater solution hardening at low temperatures implies the presence of short-range interactions between the solute atoms and dislocations These include size and electronegativity effects. Whether the extra alloy strengthening at low temperatures is due to locking or friction hardening is still a controversy."".' In the present research the stress-strain behavior of Au-Ag single crystals containing 1 to 5 at. pct Ag and 1 to 5 at. pct Au was measured vs strain rate and temperature down to 4.2' K. Particular attention was paid to yield drop effects. These have not been previously reported. PROCEDURES The alloys were supplied by the Engelhard Industries. Inc.. as strips 0.050 by 0.250 by 12 in. The compositions are given in Table I. Single crystals were grown under static vacuum using a traveling molten zone technique. Crucibles shaped to the size of the strips were made of high-purity graphite prebaked for 24 hr at 1100°C in vacuum. The crucible and its charge were placed in

Jan 1, 1970

By James D. Noll, M. Eileen Birch

A monitoring method for diesel particulate matter was published as Method 5040 by the National Institute for Occupational Safety and Health (NIOSH). Organic and elemental carbon are determined by the method, but elemental carbon (EC) is a better exposure measure. The US Mine Safety and Health Administration (MSHA) proposed use of NIOSH 5040 for compliance determinations in metal and nonmetal mines. MSHA also published a rule making for coalmines, but no exposure standard was provided. A standard based on particulate carbon is not considered practical because of coal dust interference. Interference may not be a problem if an appropriate size-selective sampler and EC exposure standard are employed. Sub micrometer dust concentrations found in previous surveys of nondieselized, underground coal mines were relatively low. If a large fraction of the sub micrometer dust is organic and mineral matter, sub micrometer EC concentrations would be much lower than sub micrometer mass concentrations. Laboratory and ?eld results reported here in indicate the amount of EC contributed by sub micrometer coal dust is minor. In a laboratory test, a sub micrometer EC concentration of 31µg m 3 was found when sampling are spirable coal dust concentration over three times the US compliance limit (2mg m3). Laboratory results are consistent with surveys of nondieselized coal mines, where EC results ranged from below the method limit of detection to 18µg m 3 when size-selective samplers were used to collect dust fraction shaving particle diameters below 1.5µm sub micrometer EC concentrations were ?7µg m3. In dieselized mines, sub micrometer EC concentrations are much higher.

By A. B. Parsons

AN often repeated criticism of the profession of engineering is that it is as a whole it lacks solidarity. organization, co-ordination, and leadership. Significantly, the critic, are all engineers. Other members of the body politic either do not know about the absence of organization or they do not care. If engineers have no organization they have a plethora of organizations. There exist in the United State, today some 350 societies. institutes. clubs, associations, and councils of engineers and engineering technologists and this number excludes several hundred local chapters of national societies. trade associations, and local engineers' clubs of purely social character- Successful engineers must be proficient in analyzing, planning, and co-ordinating. but it is generally admitted that for their profession as a whole their success in this respect has been indifferent.

Jan 1, 1943

By Todd Hollingsworth

The Boddington gold mine is located near Perth in Western Australia in the Saddleback Greenstone Belt, a fault-bounded sliver of Archaean volcanic and shallow level intrusive rocks, surrounded by granitic and gneissic rocks. The mine began operations in 1987, producing about 7.7 t/a (250,000 oz/year) until mining ceased in 2001. Built on the footprint of the original mine, the Boddington gold mine expansion project involved opencut mining from two large pits. Expected gold production is around 31 t/a (1 million oz/year) for the first five years. It will be the largest gold mine in Australia. The mine has proven and probable reserves of more than 622 kt (20 million oz) of gold and has an expected life of more than 24 years. The mine is currently solely owned by Newmont Gold Corp., the world?s second-largest gold mining company, employing around 28,000 people worldwide. The conveyor and belt feeder contract for the Boddington gold mine expansion project was awarded by Aker Kvaerner Clough Murray Roberts (AKCMR) to FLSmidth Conveyor Engineering Inc. in August 2006. The contract involved the design and manufacture of 15 conveyors and 17 belt feeders with belt widths ranging from 450 mm to 2.4 m (18 in. to 96 in.) and conveyor lengths from 16 m to 2,172 m (52 ft to 7,125 ft). The total motor power added up to more than 16,700 kW (22,400 hp). The total length of all belting was almost 11.5 km (7.1 miles), and the total fabricated steel weight was approximately 3.7 kt (4,100 st).

Jan 1, 2010

By Shengli Wu, Feng Chang, Hua Lu, Jianliang Zhang

Kinetic studies of the blast furnace dust (BFD) reduction process have been carried out under non-isothermal conditions. BFD pellets were made with bentonite as the binder. A Comprehensive Thermal Analyzer (TG-DSC) was used to determine the mass loss of pellets, which were heated at three heating rates of 10, 20, 30 K/min up to 1493 K. Furthermore, the metallization rate and mineral composition of BFD pellets heated to several different temperatures were analyzed by chemical analysis and X-ray diffraction (XRD). It was found that, with its inherent carbon resources as the reducing agent, the metallization rate of BFD pellets could reach 88% at most. The reduction and weight loss process of iron oxides mainly happens above 1273 K. In addition, from application of the Coats-Redfern equation the apparent activation energy of the reduction from wustite to Fe was 443 kJ/mol and the mechanism was interface reaction R..

Mar 1, 2017

By Roger A. Archabal, Omar A. Conte, Gustavo Langoni

This international case study focuses on the rigorous geotechnical interaction and results of a soil improvement program utilized to mitigate consolidation settlements of over 1.5 m [5.0 ft]. The extreme settlement results from very deep, nearly normally consolidated clay and the required high floor loading of a new Logistics Park near Bogota, Colombia. The general subsurface conditions consist of very soft clay extending to depths beyond the 50 m [164.0 ft] explored. A required 1.2 m [3.9 ft] thick fill combined with high floor loads resulted in an applied areal load of approximately 7 ton/m2 [1300 psf] (equivalent to about 4.5m [15.0 ft] of fill). Langan recommended performing a test section to validate the initial consolidation settlement calculations and evaluate possible optimization of the prefabricated vertical drain (PVD) spacing and length. The test section sizing was designed to accurately represent the stresses at depth of the future structures. Extreme settlements of over 1.5 m [5.0 ft] in the center and large differential settlements of over 0.6 m [2.0 ft] were measured between the center and corners of the test section over a relatively short test time. Discussion on the methodology, instrumentation, measured results and future optimization are presented. The recommended soil improvement varied from the standard approaches typically utilized in the area. PROJECT LOCATION AND DESCRIPTION The project site is immediately north-northwest of the city of Bogota in the Bogota Valley. The site is bordered with, and has historically been, farming land bordered to the south by the El Rosal-Bogotá highway. The overall site encompasses about 570,000 m2 [141.0 acres] of gross area and about 484,000 m2 [119.6 acres] of net buildable area. The warehouse complex will consist of 10 very large warehouses with footprints ranging from about 15,000 m2 [3.7 acres] to 30,000 m2 [7.4 acres]. The total building area is about 210,000 m2 [51.9 acres] with most of the remaining areas being paved principal drives, truck parking or administrative parking. The topography of the site is relatively flat and close to final grade in roadway areas. However, the warehouse floors will be raised about 1.2 m [3.9 ft] (equivalent to about 2 t/m2 [370 psf] considering engineered fill) to allow for truck docking. In addition, the design floor loads are heavy and estimated to be up to 5 t/m2 [930 psf] and equivalent to about 2.5m [8.2 ft] of fill. Geotechnical conditions at the site are very weak at depths of 50 meters [165 ft] or more, with soft compressible clays comprising the majority of the soil profile. The Bogota Valley is composed in some areas of very deep alluvial deposits. These deposits have been classified as an important challenge and limitation to the development of high/heavy structures such as the project in question for many years (Orozco, 2006). Soft clay deposits have been encountered even beyond depths of 100 meters [328 ft] in some regions of the Bogota Valley (Sanz, 1994). Extreme settlements can be expected if extensive and high permanent loads (above preconsolidation stress levels) are supported in these thick alluvial deposits.

Jan 1, 2018

By J. E. Murphy, L. A. Walters, F. H. Nehl, G. B. Atkinson

The US Bureau of Mines investigated the selective electrowinning of Ag and Au from cyanide solutions contaminated with Cu with the goal of decreasing the amount of Cu codeposited. Decreasing Cu codeposited will reduce refinery costs. Direct current was applied to the cell in pulsed and square wave voltages at 0.7 A h/150 mL of solution. Times tested for each cycle ranged from 1 to 10,000 msecs. Graphite, lead and stainless steel were evaluated as electrode materials. Square wave electrowinning at 70°C (158° F) gave the best separation of Ag and Au from Cu. Applying 2.5 V during the duty cycle, 0.0 V the rest of the period, a duty cycle of 10% to 30%, and a period of 100 msecs to 1000 msecs gave the following results: Ag concentrations decreased from 34 µg/mL to 0.1 µg/mL. Au concentrations decreased from 54 µg/mL to 0.2 µg/mL and Cu concentrations remained almost constant at 560 µg/mL.

Jan 1, 1995

By Li Keqiang

This paper discusses the pile foundation of tall buildings in Shenzhen region. For 156 constructed tall buildings exceeding 18 storeys, about 86. 5 per cent of the sum. The two main types of foundation used are the semi?machine?bored/slurry drilled cast?in?situ pile and the excavation pile (hand ?dug caisson). The engineering geologiical condition in Shenzhen was analysed. In general, the bed rock level is not too deep. It belongs to hard rock, but the geologic structure is more complex and the tectonic fissures is plenty. According to experiences of the researches, tests, designs and constructions of pile foundation, we present the basic design principle of pile foundations for tall buildings as follows; (1) pile strength control to select the pile type and to choice the cross sectional dimen­sions, must be in compliance with the strength of the pile. (2) bearing stratum strongly weathered, moderartely weathered and slightly weathered rock may be used as the bearing stratum. (3) bearing pile bored /drilled cast-in-situ pile designed as an end bearing pile. (4) friction pile precast concrete pile, prestressed concrete tubular pile and driven cast-in-situ pile designe as a friction pile. In case, pile design is in compliance with these principles, it may be safe, economical and reasonable.

Jan 1, 1991

LIST OF MEMBERS AND ASSOCIATES ARRANGED ACCORDING TO STATES AND TOWNS ALABAMA Aldrich, Aldrich, W F Anniston, Noble, A E, Smith, N B Aibacoche, Bradley, D II Bessemer, Fergusson, V Birmingham, Aldrich, T H, Aldrich, T H, Jr, Bowron, J, Bowron, C E, Davis, F H, Dimmick, F D, Hillman, McCarthy, M E , McCormack, McCrery, Ramsay, E, Shook, A M Bridge¬port, Wheeler, S K Ensley, McDonald, S, Shook, J W Fanbanks, Hamil¬ton, A L Helena, Squire, J Huntsville, Moss Lehigh, Toulmin Oxmoor, Green¬amyer, A G Plasma, Gage Rock Run, Garvin Sheffileld, Miller, D I Tuscaloesa, Lodge, J University, McCalley Woodward, Bukofzer, Woodward, A H ALASKA Dawson, Buck Douglas Island, Corbus, J P , Macdonald, J Hames, Le Wald, E A Jualin, Hoggatt, W B Juneau, Denby, Gaifield, Garside, Hamp¬ton, W H Rodman Bay, Phillpots Snettisham, Tisdale Sumdum, Thane Tel¬ler, Hirshberg, M R Treadwell City, Batcheller, J H , Kinzie Valdez, Esterly, G M Yukon, Dawson, Elmer, J M ARIZONA Bisbee, Clark, G C, Coombs, H L , Douglas, W, Hoatson, Parnall, S A, Pelton, R T, Ricketts, L D, Sherman, G F G, Smith, F W, Smith, H A Black Diamond, Bagge Blanchard, Cummins, Murray, J J Casa Grande, Rich¬mond, A B Clifton, Colquhoun, Grabill, Murray, H T , Plater, Smith, J D A, Veitch, Watson, W S Congress, Goodloe Crown King, Alexander, G E Douglas, Cornell, Kraemer, E L, Lee, G B, Rutherford, F Globe, Berray, Hoar, Snell Harrisburg, Smith, F C Jerome, Clark, W A, Thomas, C A Kingman, Treadwell, Wallace, J P Kirkland, Bretherton, G K Kofa, Lamp¬shire, J O , Pomeroy, H G Mayer, Haggott, E A Metca j, Blumenkranz, M , Forbes, D L H Morenca, Clark, C D, Fleming, J B, Honey man, Mills, C E, Wallace, L R Morristown, Stevens, H W Nogales, Glove, H G, Sandoval, A , Sandoval, P Octave, Rose, G W Phoenix, Armstrong, T , Butler, C E, Defty, Lindsay, L Prescott, Blauvelt, H , Bunker, C E, Claypool, W M , Drescher, F M , Fairbank, Nissen Tombstone, Gage, Poindexter, C L , Staunton, Walker, E W Troy, Cutting Tucson, Blake, W P, Burgess, De Lashmutt, I, McCleary, Mann, Prout, J W , Jr ARKANSAS Fayetteville, Purdue Fort Smith, Bache, F , Denman, H Little Rock, Fordyce, Scholz CALIFORNIA Alameda, Arents, King, L Arnador City, Downs, Tregloan Angeles Camp, Dig¬gles, R N , Kenney, C E Antioch, Belshaw Auburn, Coe, I J Ballarat, Thorns Berkeley, Abadie,, Christy, Dozier, Hall, F F , Hersam, Landfield, Lind¬say, L , Mansfield, N T, Morley, W S , Sharwood, W J Bag Oak Flat, Dron Bodae, Hamilton, W R, Hoover, T, Hoover, T J, Jackson, B L , Nutter , E, H Bullion, Power, H T Callahan, Scott, E H Campo Seco, Baird Cartero,

Jan 1, 1910

By C.F. Pascoe, H.J. Roast

The object of this investigation was to compare the arsenical antimony-lead alloy with some of the regular bearing-metal alloys. With this end in view, the following tests were made: 1. Chemical analyses to show the composition. 2. Thermal analyses. 3. Macroscopic examination of fractures. 4.Microscopic examination. 5. Tensile tests. 6. Crushing tests. 7. Scleroscope tests.' 8. Brinell tests, at temperatures from 80' to 400' F. Tests 3 to 8 were conducted on both sand-cast and chill-cast specimens. For the purposes of this paper the alloys have been numbered from 1 to 6; their composition is as follows: Lead. ' Antimony, Tin, CoppeR ARSEnic, NumBeR PeR CENT. PER CENT. PeR Cent. PeR CeNt. PeR Cent. 1 82.64 12.95 4.40 0.01 none 2 27.54 9.04 59.87 2.65 none I 3 none- 0.13 ------------1.47 4 82.95 16.85 none 0.20 none 5 83.78 15.35 none 0.05 0.82 6 0.15 7.87 . 84.13 7.85 none The analysis, in the case of the antimony, was made by solution in sul-furic acid and titrated with permanganate. For tin, the ferric-chloride method was used; for copper, the alkaline separations, and the thio-cyanate methods; for arsenic, volatilization of arsenic and titration with iodine. The lead, with the exception of alloy 6, was taken by difference. With the exception of No. 5, the alloys were taken as received from the manufacturer. About 40 lb, were melted in a graphite crucible and recast into small ingots to insure uniformity of composition; samples

Jan 1, 1923

By C. F. Pascoe, H. J. Roast

The object of this investigation was to compare the arsenical antimony-lead alloy with some of the regular bearing-metal alloys. With this end in view, the following tests were made: 1. Chemical analyses to show the composition. 2. Thermal analyses. 3. Macroscopic examination of fractures. 4.Microscopic examination. 5. Tensile tests. 6. Crushing tests. 7. Scleroscope tests.' 8. Brinell tests, at temperatures from 80' to 400' F. Tests 3 to 8 were conducted on both sand-cast and chill-cast specimens. For the purposes of this paper the alloys have been numbered from 1 to 6; their composition is as follows: Lead. ' Antimony, Tin, CoppeR ARSEnic, NumBeR PeR CENT. PER CENT. PeR Cent. PeR CeNt. PeR Cent. 1 82.64 12.95 4.40 0.01 none 2 27.54 9.04 59.87 2.65 none I 3 none- 0.13 ------------1.47 4 82.95 16.85 none 0.20 none 5 83.78 15.35 none 0.05 0.82 6 0.15 7.87 . 84.13 7.85 none The analysis, in the case of the antimony, was made by solution in sul-furic acid and titrated with permanganate. For tin, the ferric-chloride method was used; for copper, the alkaline separations, and the thio-cyanate methods; for arsenic, volatilization of arsenic and titration with iodine. The lead, with the exception of alloy 6, was taken by difference. With the exception of No. 5, the alloys were taken as received from the manufacturer. About 40 lb, were melted in a graphite crucible and recast into small ingots to insure uniformity of composition; samples

Jan 1, 1923

By Thomas M. Barczak

Purchasing a new set of longwall shields requires a substantial investment. A poor shield design can lead to economic hardships, safety concerns for the mine workers, and closure of the mine. This paper addresses several key points that should be considered in the procurement process: (1) understanding your goals and the logic in selecting a higher capacity shield, (2) the importance of completing performance testing before production shield fabrication begins, (3) making sure performance testing is properly done, (4) measuring load(stress) development during performance testing, (5) testing a shield to failure, and (6) the value of buying extra shields. In addition, several challenges are proposed for consideration in future shield designs. These include (1) 100,000 life-cycle expectancy, (2) improved hydraulic diagnostic capability, (3) smart load control by optimizing setting pressures, (4) lubricated link joint design concepts, (5) composite material applications to reduce shield weight, (6) incorporating periodic weighting predictive algorithms into the data-processing software, (7) advanced component load measurement on two to three specially instrumented shields to detect loading in the structural components, and (8) constant set leg cylinder design.

Jan 10, 2000

By Gordon T. Austin

The combined value of production of natural abrasives, which includes tripoli, special silica stone, garnet, staurolite, and emery, increased about 9% in 1988. In the case of emery, the increase was due to an increase in unit value of the material produced. The increase in the value of garnet and staurolite production was simply the result of an increase in the quantity of materials produced. However, special silica stone experienced both an increase in unit value and quantity produced. The nonmetallic manufactured abrasives industry, which includes only silicon carbide and fused aluminum oxide in the reported statistics, enjoyed the best production year since 1981 in terms of total quantity produced. Production increased 22% in quantity and 16% in value com-pared with those of 1987.

Jan 1, 1990

By Benkendorff P. N

Cement production in Australia approximates 6.5 million tonnes per year. Cement clinker is sourced from 15 plants which operate 28 kilns. Cement grinding is conducted at 14 of the clinker plants plus 7 grinding plants. Average annual capacity per kiln or plant is lower than in many overseas countries, but kilns introduced since 1970's have been of larger size more in keeping with size trends overseas, although still smaller than the large units overseas. Substantial economies in capital and labour costs can be achieved in large production units, particularly with dry process kilns using precalcination techniques in which part of the fuel is introduced in the static preheater section ahead of the kiln while the balance is added to the kiln in a conventional manner. Precalcination techniques have been introduced to the Australian cement industry but as cement transport costs form a major part of supplying diverse market areas, the size of kilns is likely to remain less than maximum owing to balance with distribution costs. The cement industry uses significant amounts of thermal and electrical energy which can be minimised by proper selection of equipment and technology. Labour costs are also significant and can be contained by automation and computer control of the process.

Jan 1, 1989

By M. Saghaeian, R. Hejazi, L. Hosseini

The specific surface area (Blain value) of iron ore concentrate entering the pelletizing plant is one of the characteristics most effective on the overall performance of the plant such as producing harder pellets, decreasing additives consumption, and decreasing energy consumption. Therefore, preparing the feed entering pelletizing plant is required. The iron concentrate entering Ardakan pelletizing plant located in Yazd province, Iran bears relatively low Blain value (approx. 1600 cm2/g) which necessitates one stage of regrinding so as to increase the Blain value to more than 1800 cm2/g. Studies were conducted and results showed that HPGR is the best regrinding equipment for increasing specific surface area. Conducting pilot plant tests on the concentrate sample revealed that specific throughput is 181 to 263 ts/hm3 and specific energy consumption is 1.6kWh to 2.2 kWh. Pilot tests also showed that one stage of grinding results in 407 cm2/g to 553 cm2/g increase in specific surface area. Based on these results, diameter of rolls, length of rolls, power consumption and grinding force were calculated to be 1.3 m, 0.9 m, 1276 kW and 13800 kN, respectively. Therefore, an HPGR with a roll diameter of 1.52 m, roll width of 1.1 m, power of 1660 kWh and a capacity of 500 t/h has been selected and implemented in Ardakan pelletizing plant. Industrial performance of HPGR and its effects on the plant study results show that limestone and bentonite consumption has reduced about 60% and 30%, respectively. Total Fe of the final pellet has increased from 65.5-65.7% to 66.2%. Cold compressive strength (CCS) and porosity of final pellets are approximately 292 kg/pl and 20.4, which are in the acceptable range.

Jan 1, 2014

The cost of power is an important matter to mining companies generally and this thought that the members of the Australasian Institute of Engineers, as well as the engineering and mining professions generally would be interested in any proposal for the reduction of that cost has led to the presentation of this paper.The writer trusts that the description will be found clear and increase the interest in this interesting subject. In the up of the electrical arrangements touched on in this paper, the author has had the able assistance of his friend Mr. Mars, to whom he offers his hearty thanks. The selection of the best class of power plant for a mine is a very difficult and large problem and it is quite out of place to dogmatise that anyone of the many systems that offer is better than another, eg that the all electrical is better than the partly direct steam-driven and partly electrical, or that a gas plant is better than a steam plant. Such a selection is one that calls for very careful and close consideration, in each particular case, of a large number of before it is possible to arrive at a proper decision.

Jan 1, 1912

COUNCIL The following served on Council during the year under review: Office bearers: Messrs V. C. Robinson (President), Prof D. D. Howat and Dr J. P. Hugo (Vice-Presidents), J. K. E. Douglas (Immediate Past President) and D. G. Maxwell (Honorary Treasurer). Ordinary Members of Council: Dr M. G. Atmore, Dr J. M. Bereza, H. P. Carlisle, W. W. Malan, C. E. Mavrocordatos, Prof R. P. Plewman, Dr R. E. Robinson, Dr M. D. G. Salamon, P. W. J. van Rensburg, L. W. P. van den Bosch, P. A. von Wielligh. Branch Chairmen: J. Meintjes, J. M. Meyer (Acting), J. N. Saunders (Retired). Past Presidents serving on Council: R. J. Adamson, M. Barcza, H. Britten, R. C. J. Goode, P. Lambooy, Prof J. de V. Lambrechts, Dr J. T. Mclntyre, J. F. Reid, H. Simon. Ten Council meetings were held during the year with an average attendance of eighteen and the standing committees held forty-six meetings. FINANCE The annual accounts, which are attached to this report, show an excess of income over expenditure of R5 051 compared with an excess of expenditure over income last year of R4 608. This major reversal of fortunes is due in the first instance, of course, to the increased subscriptions. There were, however, other important contributors, particularly sales of the Proceedings of the Symposium on Open Pit Mining and profits on the operation of symposia and colloquia. It would appear from a study of the accounts that there has been a substantial drop in expenditure on secretarial fees. In actual fact, however, our total expenditure on secretarial fees was higher. A portion of this expenditure was charged against the administration of the Symposium on Open Pit Mining and, in addition, the charge against the Journal accounts for secretarial fees was increased. It will be recalled that in last year's annual report it was mentioned that subsequent to the new arrangement for publication of the Journal, the expected improvement in the finances of the Journal had been slow in materialising. After a total period of 18 months there was still no sign of improvement and it was accordingly decided to end the arrangement. As a result, the drain on the finances of the Institute was considerably lessened in the second half of the year. During the course of the year Council became concerned about the rapid depletion of our accumulated funds and gave careful and detailed attention to all aspects of the Institute's financial affairs. Particular attention was given to: 1. The fact that the Institute does not have a solid financial backing and must appeal for funds every time any special event such as a symposium is held. 2. The responsibilities of the Institute to the profession and the community, with particular reference to the desirability of establishing Institute bursaries and participating in other educational activities. 3. The rapidly rising cost of living. 4. The immediate financial position of the Institute. 5. The rapidly increasing cost of publishing the Journal due to the increasing number of papers available. In the meantime the immediate financial position of the Institute has improved but as this is due largely to non-recurring or irregular items of revenue, it should not be given undue weight. After careful consideration it was decided that an appeal should be made to industry for financial assistance, which would be used to cover the cost of symposia and other unusual expenditure and also, if possible, to build up the capital resources of the Institute so that there is a solid foundation for the future. Before appealing to industry, Council wished to be quite certain that there could be no criticism of the Institute for not having done our best in a personal capacity. Furthermore, Council examined many comparative statistics, including those circulated to members, which showed that, while expenditure per member has risen at an average annual rate of 7,5% over the last fifteen years, subscription revenue per member has risen at only 3,4% per annum. It was with this background that your Council decided to raise the subscriptions. Initial approaches have been made to the big mining groups and there has been a very generous response, although the details of how financial assistance will be provided have not yet been worked out. It seems likely that some form of affiliated company membership will be the most suitable method of achieving this. When these details have been fixed, it is the intention to extend the appeal to all corners of the mining industry as well as manufacturing and metallurgical industries. It is believed that these measures will ensure that the finances of the Institute are placed on a firm foundation on which the expanding activities can be planned. The MacArthur Forrest Memorial Fund shows an excess of income over expenditure of R73 and the total fund was, therefore, increased by this amount to R4 411. The balance sheet shows that the market value of quoted shares and debentures increased during the year fron R6 540 to R9 160. The market value is now almost exactly the same as the book value. Accumulated funds now amount to R23 010 compared with R17 959 a year ago.