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By A A. Ndiaye, A Galli

In a companion paper on current hedging practices in the mining industry (Armstrong et al, 2009) we showed that contrary to popular belief, mining groups are still using financial derivatives to hedge against foreign exchange risk and interest rate risk, and more recently against adverse changes in energy prices, notably the oil price. This paper presents a case study on a hypothetical gold mine to illustrate the impact that hedging policies could have on its profitability by reducing the downside risk due to adverse changes in the exchange rate and increases in fuel prices. The characteristics of the hypothetical mine have been set to reproduce those of a real gold deposit, the Kisladag mine that is currently being exploited by open pit methods in Turkey. This mine was selected because its feasibility study was available to the public. Geostatistical simulations are used to reproduce the inherent uncertainty on the recoverable reserves û stochastic simulations are used to generate the variability of the other three key sources of uncertainty: the gold price, the cost of energy and the exchange rate. A simple strategy based on straightforward vanilla options (puts and calls) was developed for hedging the last two risks, on the assumption that the company sells its production at the prevailing spot price.

Jan 1, 2009

By T Wootton

The Barrytown ilmenite pilot plant was commissioned in two stages using Westport Titanium Project heavy mineral concentrate. The wet concentrator was commissioned on the 17 December 1989 and produced magnetic concentrate from this date.   The Drymill was commissioned on the 27 January 1990 and produced product grade ilmenite successfully from the onset.   The commissioning period was exceptionally short by normal standards and few problems were encountered. This paper concludes with general observations of operations of the pilot plant.

Jan 1, 1990

global mining boom and in-creased demand for iron ore has lead to a resurgence in the mining industry in Minnesota. At the combined 81st Annual Minnesota Section of SME Meeting and 69th Annual University of Minnesota Mining Symposium, April 15-16 in Duluth, MN, this resurgence was the hot topic as new mining projects were featured in the keynote session. The meeting attracted more than 400 mining industry professionals, including engineers, executives, mining managers and suppliers from around the world. This year?s theme was ?New Ventures in Mining.? The meeting included concurrent technical papers sessions, a keynote session that featured three distinguished speakers and a panel discussion that provided updates on new mining developments in the state. The Minnesota Section of SME technical papers were presented in concurrent sessions, one on mining and one on mineral processing. The mining session included papers on drilling, ore blending, slope stabilization, dust control and operations management. The mineral processing session included papers on plant-control technology, ball mills, pellet strength and fans. Also offered was an SME short course titled ?Simulation based pellet induration optimization.? The Minnesota Section of SME held its annual business meeting during the conference. The 69th Annual University of Minnesota Mining Symposium technical sessions were held on April 15 and also consisted of concurrent sessions on mining and mineral processing. Mining session topics included logistics management, real-time performance measurement, uses for taconite aggregate and environmental issues. The mineral processing session included papers on ore liberation characteristics, zeta potential studies, induration modeling, fuel optimization and conveyor belts. The combined conference included a tradeshow with more than 80 booth spaces featuring vendors offering products and services to Minnesota?s booming mining industry. More than 900 people, including conference registrants and special invited guests of the vendors, at-tended the tradeshow opening reception. This was the largest trade show in many years ? an indication of the vitality of the mining industry in Minnesota.

Jan 1, 2008

By Donald Leroux, Simon Gariépy, Luc Lachance

"Quantitative information about the quality of metal balance results is often overlooked when making important plant production planning decisions. Not only is this common omission made in a context where many measurements taken in and around mineral processing plants carry significant errors, but it also conflicts with the AMIRA P754 Code of Practice for Metal Accounting. The fact that metal balances are typically published without any indication of data quality may give the wrong impression that the measurements are unquestionably accurate. While it is true that statistical data reconciliation can improve the confidence intervals of redundant variables, there is no data processing technique that brings them down to zero at a finite cost. In this paper, we review the entire data flow, starting from field instruments to metal accounting-based decision-making to show how measurement errors are transmuted into business risks associated with production planning. Necessary conditions for first exposing then quantifying such business risks are stated. Pitfalls to be avoided are also discussed. Finally, a simplified risk assessment and management procedure which considers the quality of metal balance results are applied to a polymetallic mineral processing plant. INTRODUCTION Each and every mineral processing plant has production reporting obligations. In this paper, we are concerned with metal accounting reports (Morrison, 2008) where saleable metal flows and inventories are estimated and published. These metal accounting reports are delivered to a variety of stakeholders who use them for internal management purposes (day-to-day plant production planning, plant operation optimisation, capital spending, etc.) as well as for external management (royalty settlements, tolling agreements, etc.). Hence, there should be no doubt that spotless metal accounting is instrumental to high-quality corporate governance (Gaylard et al., 2014) of mining and metallurgical companies. To this extent, one would have expected industry-endorsed standards to have emerged a long time ago. However, the lack of an accepted set of standard procedures for metallurgical accounting was explicitly recognized as an industry-wide problem only in August 2001 during an SAIMM workshop held in Cape Town, South Africa. Discussions that followed this workshop led to the initiation of the AMIRA Project P754, “Metal Accounting and Reconciliation”, in 2003."

Jan 1, 2015

The mining industry continues to experience a skills shortage and this is having an impact on the ability of mining companies to operate sustainably. Apart from a few exceptions, there is a dearth of geologists, mining engineers, metallurgists as well as environmental scientists and other professionals in the global mining industry. This relates to both quantity and quality. It makes good business sense for mining companies to employ local professionals rather than expensive expatriate staff. In some cases a mining company could employ more than 10 local mining engineers for the cost of one expatriate. However, in many countries local professionals are not always equipped professionally to work on mine sites. The result is that many companies are not operated optimally due to human resources gaps. In some cases, particularly in key areas such as mine planning, this threatens the sustainability of the operation or at the very least results in sub-optimal resource utilisation. This paper briefly presents some of the issues and strategies being implemented and that might be implemented to maintain a sustainable supply of quality minerals graduates to the industry in 2011 and beyond.

Jan 1, 2011

By Donald Bruce, Mark Harris, Wesley Schmutzler, James Sanders

"This paper evaluates the history, construction and most importantly the performance of two remedial seepage cutoff walls installed in two major dams in the United States. Beaver Dam, on the White River in northwest Arkansas, was completed in 1966 and seepage through the karstic limestone under the embankment was apparent almost immediately upon filling of the reservoir. Several attempts to stop the seepage by grouting were unsuccessful. In 1994 a cutoff wall consisting of secant piles drilled with 32"" diameter down-the-hole hammers to a maximum depth of 185'?was completed and the seepage was reduced to a negligible amount. It has been over 20 years since the completion of the cutoff wall, and all indications are that the cutoff wall is performing as expected. Walter F. George Lock and Dam on the Chattahoochee River near Fort Gaines, Georgia, was completed in 1963 and suffered the same problem as Beaver Dam due to the limestone on which the dam was founded. Cutoff walls were installed in both embankments (1980s) and solved the problem in these areas, but under-seepage at the concrete lock, dam and spillway structures increased to the point that remediation was essential. The cutoff wall had to be installed through 110'?of water and another 100'?into rock upstream of an active dam that continued to generate electricity during the construction of the cutoff wall. A secant pile wall, in combination with a diaphragm wall, was completed in front of these structures in 2004. It has been over 10 years since the completion this cutoff wall and, again, the cutoff wall is performing as expected. The paper describes the construction of these cutoffs, but focuses on the long-term performance in terms of controlling seepage and piezometric levels.BEAVER DAMBeaver Dam is located on the White River, 609 miles above its mouth, in Carroll County, Northwest Arkansas. The construction of the dam and Beaver Reservoir was authorized on September 1954 by the Congressional Flood Control Act for purposes of water supply, flood control and hydroelectric power generation. The dam site was selected in 1957: construction began in November 1960 and was completed in June 1966. (FIG. 1)"

Jan 1, 2017

The Framework Convention on Climate Change (FCCC) places serious obligations on New Zealand as a signatory nation. This paper examines the nature of the FCCC, New Zealand 's proposed policy response, and the.implications for the minerals industry.

Jan 1, 1994

By Adam Powell, Matthew Earlam

INFINIUM, Inc. is scaling up a new molten salt electrolysis process for producing rare earth metals. Instead of conventional carbon anodes, this process uses Pure Oxygen Anodes™ which employ a stabilized zirconia solid electrolyte between the molten salt and anode. This eliminates two problems with today's rare earth metal production technology. First, it eliminates carbon anodes and contamination of the product by carbon and its impurities, enabling 10-100 times larger batch size than current practice, and lower labor costs. Second, it eliminates emissions of perfluorocarbons (PFC) such as CF4 and C2F6, which are very problematic greenhouse gases with 6000+ times the global warming potential of CO2. The zirconia also enables a sealed vessel with no LiF emissions, creates a reducing environment enabling use of low-cost welded steel vessels, and either produces a high-purity oxygen by-product or can use natural gas to reduce the necessary electrical energy with no HF production. This paper will describe the technology and its current status for rare earth metal production.

Jan 1, 2014

By R. H. Colquhoun, A. W. Bolland, H. J. H. Pieterse

"American Barrick Resources Corporation acquired the goldstrike property in north eastern Nevada in early 1987. Since that time, the company has undertaken an extensive development program. This paper will overview the milling, autoclaving, and heap leaching facilities which are part of the $400-million Betze development plan. Gold production at the Mine has increased from 40,000 ounces per annum in 1987 to more than 500,000 ounces in 1991. And in 1992 Goldstrike will be the single largest North American gold mine when it produces 1,000,000 ounces.1. SUMMARYAmerican Barrick Resources Corporation acquired the Goldstrike property in northeastern Nevada in early 1987. Since that time, the company has undertaken an extensive development program. This paper will overview the milling, autoclaving, and heap leaching facilities which are part of the four year, $440- million Betze Development Plan. Gold production at the Goldstrike Mine has increased from 40,000 ounces per annum in 1987 to more than 500,000 ounces in 1991. In 1992, Goldstrike will be one of the largest North American gold mines, when it produces appro approximately 1,000,000 ounces.2. INTRODUCTIONAmerican Barrick Resources Corporation is in the process of developing the Betze gold deposit, located on Barrick's Goldstrike property in the Carlin area of Nevada, U.S.A.The Goldstrike Mine has 17.9 million ounces of proven and probable reserves and an additional 460,000 ounces of possible reserves. Additionally, the Purple Vein deposit, one mile north of the Mine, is expected to add at least 4 million ounces of reserves by year end 1991.The Goldstrike ore body contains both oxide and sulphide ore. The largest part of the reserves are contained in the high grade, deep sulphide ore. Mining of the sulphide ore contained in the Betze deposit involves the removal of large quantities of overlying oxide ore. Oxide ore is treated through one of the following processes:-"

Jan 1, 1992

By G. Duncan, K. Winther, R. Ericsson

Distinct trends in grinding mill technology have emerged in recent years. In an effort to optimize overall mill performance for the needs of the End User, broad measures of logistical speed, process flexibility, operational risk, and overall costs now exert greater influence on the specification of grinding equipment. As a result, innovative alternatives to conventional grinding mill structures, supports, drives, feed, and discharge configurations are now being offered and selected with greater frequency. This paper investigates these trends in grinding mill technology, utilizing optimization and decision-theory techniques. In particular, the paper considers how specific advances in process design, product engineering, manufacturing techniques, and mining operations continue to relax technological constraints, enabling further mill innovation. In this context, a methodology is presented, illustrating how proper selection and specification of grinding mill components and configuration can target an optimization of the four End-User performance measures listed above.

Jan 1, 1999

By J W. Simmons, T H. Antoun

"Rock fragmentation is an important component of explosive mining and excavation techniques andis the culmination of a damage accumulation process dominated by crack propagation. During the past 20 years, improved computer modeling of this process has resulted in new and promising computational tools for improving explosive mining and excavation procedures. This paper discusses one of these new computational tools, a computer model called BFRACT."

Jan 1, 1995

The occlusion of unliberated gold particles in silicates and sulfides in crushed/milled ore dictates the recovery that can be expected. The grade of this occluded gold in cyanide leach residues shows a consistent, general relationship to the head grade of the ore, irrespective of mineralogy or geographical location. The residue grade almost invariably increases with the head grade, but not in proportion to it. This phenomenon appears to stem from the nature of the geological events originally responsible for creating the ore deposits. A statistically-based technique for determining the true head grade-tail grade relationship from gold plant operating data is described. The effect is illustrated with results from several worldwide gold milling operations analyzed over the last 35 years.

Jan 1, 2008

By Henry P. Chandler

THE year 1950 was one of increased activity in almost all branches of the abrasives industry, with nearly all abrasive materials showing a marked increase in tonnage and value. New records were made In the production of tripoli, ground sand and sandstone, pumice and pumicite, and garnet. Total production of crude artificial abrasives in the United States and Canada increased 17 percent in tonnage and 30 percent in value. Imports of industrial diamonds increased 100 percent in total value and 72 percent by weight, the 1950 importation being the largest since 1944. Imports of corundum increased 76 percent in tonnage and 4 percent in value.

Jan 1, 1953

By C. Bazin

Grinding circuits are operated in the presence of disturbances due to ore changes and equipment malfunctions. One of the challenges faced by the operators is the detection of a disturbance, the identification of its origin and of the action to correct the problem. Hydrocyclones overloading, worn or partly plugged apexes of the units of a nest, surging and internal liner detachment may cause a loss of classification capacity and quality leading to a less efficient grinding operation. A dynamic simulator is used to assess rules for the diagnosis of hydrocyclone faults from the trends produced by sensors.

Jan 1, 2009

By Trevor Rangasamy

Technically based guidelines for managing rock related risks associated with strip mines in South African collieries are currently vague and are to a large extent based on experience and trial and error. To date, no mine specific or universal design charts exist within the South African industry. Quantification is done on a reactive basis i.e. following reported instabilities. The conditions under which, proactive tools to manage instabilities would be practically applicable are: The design of simple easy to use charts. Designing the charts for a target audience that is primarily production management. Well organized, logical set-up of the charts that will allow for easy future refinements. Allowing for variations in rock and soil properties within the charts that would account for colliery specific and region specific variability. The factors selected for in depth investigation that were deemed to have either individually or in combination, a primary influence on the stability of strip mines are (in no order of priority): Appropriate batter angles for ?soft? materials. Surcharge loading (spoils, dumps, topographical highs) on the highwall side. Influence of the thickness of stratification on stability. Influence of moisture content on stability. Influence of the changes to the coal seam dip angle on stability. Influence of persistent ?strip long axis? parallel faults/joints on stability. Spoil stability for variations in material type. This paper provides details of the work undertaken, using principally numerical modelling techniques, to produce design charts that will allow for proactive management of rock-related instabilities on strip mines.

Jan 1, 2008

By Dean Workman

Long extensible conveyor systems are an important option for efficient tunnel excavation where intermediate access is impractical. The conveyor system designed for the Pula Subbaiah Veligonda Tunnel #2 in Andhra Pradesh, India will eventually extend to 19.35km. The Ø10.0m water diversion tunnel will be excavated under India?s largest tiger sanctuary using a Robbins Double Shield TBM. Once extended, the conveyor will be one of the longest single-flight systems ever installed in India, and is expected to offer increased system availability over comparable systems using muck cars. This paper will examine the engineering challenges of long-flight extensible conveyor systems in the areas of belt selection, component design, and equipment location in confined assembly and launch areas

By M. C. Azar, W. B. Mason, G. L. Anderson

Eminent domain overview Eminent domain is the power of the Government or a municipality to take property for public use without the consent or acceptance of the owner. Typically, the agency taking the prop¬erty will make an offer, hoping the owner will immediately accept and allow work to begin. If a mutual resolution regard¬ing its value cannot be reached, how¬ever, the municipality will institute a condemnation action in court seeking possion of the property. This is when the problems begin. The power of the Government to take the subject property is limited by Federal and state constitu¬tional requirements to pay "just com¬pensation" for the property. The exact nature of an owner's prop¬erty has been the subject of much debate and discussion. It is generally under¬stood, though, that property is consid¬ered to be "every kind of right or inter¬est, capable of being enjoyed and recog¬nized as such, upon which it is practi¬cable to place a money value" (US vs. 53 114 Acres of Land). A taking, for condemnation purposes, is considered to occur whenever there is a substantial interference with the free use and enjoyment of the property. Rarely is the necessity for the taking ever challenged and more rarely is the taking ever successfully challenged. When a taking occurs, it is not only the fee owner who is entitled to compen¬sation. Every person holding an interest in the subject property will be recog¬nized. Thus, all persons who at the time of taking have a compensable interest in the property will be made parties to the case (Swanson vs. US). Minerals, like all other interests in land, are recognized as property rights, giving the owner the power to dispose of them as he or she sees fit. Thus, the only remaining considera¬tion is only "just compensation." Ex¬actly what "just compensation" is has been difficult to define. Generally, it is that amount of money that will "put the person in as good a position as the per¬son would have been in had the taking not occurred." The owner must not be forced to sacrifice or suffer by receiving less than full and fair value for the prop¬erty. Every element that effects the value of the land and that would influence a purchaser must be evaluated. Courts have employed a variety of techniques to determine just compensa¬tion but have generally relied on market value as the standard for measuring compensation to the owner. The deter¬mination of market value is based on sales, income, costs, and use. These factors have been employed in various ways but can be summed up as: -The highest estimated monetary price the property will bring if exposed for sale in the open market with a reason¬able amount of time allowed to find a purchaser who is buying with knowl¬edge of all the uses and purposes to which it is adapted and for which it is capable of being used. • The amount the property would bring if it were offered for sale by one who desired, but was not obliged, to sell, and was bought by one who was willing, but not obliged to buy. • What the property would bring in the hands of a prudent seller, at liberty to fix the time and conditions of sale. • What the property would sell for in negotiations resulting in sale between an owner willing, but not obliged to sell, and a buyer willing, but not obliged to buy. • What the property would be rea¬sonably worth on the market for a cash price, allowing a reasonable time to affect a sale. (Michigan Standard Jury Instructions). Special consideration regarding mar¬ket value is given when the taking is only partial, rather than complete. An example of this partial taking is when a state highway cuts across the northern half of a parcel of property, leaving the rest behind for the owner. A variety of problems can be immediately seen. In a partial taking, the owner is permitted to recover not only for the property taken, but also for any loss in the value of the remaining property. The measure of compensation for partial taking purposes is generally the difference between the market value of the entire parcel before the taking, and the market value of what is left of the parcel after the taking (Michigan Stan¬dard Jury Instructions). Determining the partial taking value for mineral bear¬ing lands is the difficult issue.

Jan 1, 1989

By Hongbo Zhu, Kun Yang, Jingyan Jia, Jinhui Peng, Libo Zhang, Yi Xia

"Titanium dioxide is broadly considered as the most potential useful photocatalytic material. In this work, titanium dioxide was synthetized by microwave solid-state method and characterized by thermogravimetry-differential scanning calorimetry (TG-DSC), X-ray diffraction (XRD) and scanning electron microscopy (SEM). The result demonstrates that through microwave solid-state synthesis, we can obtain uniform size and anatase TiO2 photocatalyst, with the precursor being Ti(C2O4)2·2H2O. And its degradation kinetic parameter of MO can reach to 0.21232.IntroductionSince Fujishima and Honda found the photovoltaic property of titanium dioxide TiO2 [l], it has been widely used in the field of pollutant degradation, virus killer and environment protection [2-5]. Compared to other semiconductors, TiO2 has the advantage of low toxicity/cost, chemical stability, excellent photocatalytic activity, and long lifetime of electron/hole pairs, thus it is considered to be a most potential useful photocatalyst material [ 6]. Solid-state synthesis of oxide nanoparticle is a new method developed in recent years, which not only overcomes the shortcomings of easily aggregation existing in traditional hydrometallurgical process, but also fully demonstrates the unique technologic advantages of without solvents, high yield, easy control, less environmental pollution in solid-state reaction [7-11]. Researches show that the new method of microwave synthesis shows a lot of advantages such as fast reaction rate, efficient, high purity of product, uniform morphology, energy-efficient, and nonpolluting [12-15].In this work, we associated microwave heating and solid-state synthesis to prepare TiO2 photocatalyst material. Its photocatalytic activity was studied in the degradation of MO queous solution. Meanwhile, the formation process as well as the crystal structure and morphology of the synthesized powders were characterized by means of chermogravimetrydifferential scanning calorimetry (TG-DSC), X-ray diffractometry (XRD) and scanning electron microscopy (SEM) techniques."

Jan 1, 2014

Small scale gold mining operations in Papua New Guinea (PNG) have been observed to use very low flow rates of water in sluice boxes. In a series of laboratory experiments carried out to determine whether this approach was unsatisfactory or not for their situation, indications were obtained that it had some advantages in the recovery of fine gold but at the cost of considerable throughput. The separation mechanisms operating in such a system are analysed.

Jan 1, 1986

By T. D. Parris

Within a 30-mile radius of Sudbury, Ontario, the Ontario division of the International Nickel Co. of Canada, Ltd., operates nine underground mines and two open pits. Prior to 1966, ore removal from the underground workings was mainly by scraping, using 125-hp electric slushers in blasthole and caving mining, and 30-hp or less air-operated slushers for fill- method mining. The development and evaluation of low-profile, diesel-powered front-end loaders, designed specifically for underground operations, was followed with keen interest during the period 1964-1965.

Jan 6, 1969