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By S. H. Seyedein, Hamed Tavakkoli, Mohammad Reza Aboutalebi, S. N. Asharafizadeh

The liquid–liquid extraction behavior of lutetium from different acidic solutions was investigated using two extractants, D2EHPA and PC88A, in kerosene. Lutetium extraction reactions with D2EHPA and PC88A from HNO3 and H2SO4 solutions were chemically and thermodynamically analyzed. It was found that each Lu cation was complexed with six monomers of the organic extractant and released three protons. Simultaneously, the Lu cation was instituted in the P–O–H group of the extractants. Thermodynamic analysis of reactions between extractants and acidic solutions showed that the D2EHPA-HNO3 system is the most favorable for extracting lutetium. It is noted that the calculated equilibrium constant of the reaction in this system was approximately six times larger than that of the D2EHPA-H2SO4 system. However, the value of the equilibrium constant for the D2EHPA-HNO3 system was evaluated to be approximately 200 times greater than that of the PC88A-HNO3 system. Therefore, one can conclude that the extraction behavior of lutetium is more influenced by the extractant type than the solutionmedium. The synergistic effect of different mixtures of extractants on the solvent extraction of lutetium was also examined, and the highest synergistic factor was obtained for a binary mixture of PC88A:D2EHPA at the ratio of 4:1 for both aqueous solutions.

Mar 15, 2021

By Jaeheon Lee, Junmo Ahn, Jae-Yeon Kim, Yoo-Jin Kim, Jiajia Wu, Eun-Woo Kim, Jai-Won Byeon, Jun-Jae Lee

The surge in demand for battery materials, coupled with environmental challenges linked to battery disposal, underscores the need to recycle spent lithium-ion batteries (LIBs). Green recycling approaches, in particular, have garnered attention for battery recycling. In this study, a hydrometallurgical method using a synergetic organic lixiviant combining methanesulfonic acid (MSA) and citric acid (CA) as an alternative to inorganic mineral acids was introduced as a green approach to recycle cathode materials of LIBs. The conditions for leaching and recovery processes were optimized. Cathode materials were regenerated using the recovered materials. Moreover, the leaching performance and economic feasibility of this leaching system were compared with those of various other organic acids.

Feb 1, 2024

By Sean Cassady, Jason Liu, Sanja Zlatanic, Taehyun Moon, Chris Devery

"For the Hollywood International Airport Runway Expansion Project at Fort Lauderdale, Florida, the structural fire durability analysis was completed for a series of tunnels formed by roadway and railroad cells located under the runway structure. A systematic design approach was developed to mitigate structural damage during a fire event and arrive at a practical method to structural fire engineering that is compliant to NFPA 502. To ensure the NFPA 502 requirements are satisfied, the performance based approach was implemented and the engineering analyses were performed for the adopted design fire event. The analyses considered the facility’s unique features including its fire safety systems to determine applicable design fire curves for structural durability analyses. The paper also outlines the process of defining the project specific fire curves for a specific design fire scenario and summarizes the results of heat transfer and structural fire durability analyses. This approach was aimed to assist the owner and Authority Having Jurisdiction to achieve practical decisions to the tunnel facility fireproofing.INTRODUCTIONFort Lauderdale–Hollywood International Airport (FLL) in Broward County, Florida is a major hub facility serving more than 23 million passengers annually. As part of the Airport Expansion Program, the South Runway (9R-27L) Expansion project aimed to meet ever increasing service demands via an increase to runway lengths. This necessitated the placement of one of the reconstructed runways on bridge structures over the existing U.S. Route 1 (US 1), a major north–south U.S. Highway that serves the East Coast of the United States, and the Florida East Coast (FEC) Railway, thus effectively creating multiple tunnel cells beneath the subject runway. For this project, HNTB suggested a tunnel fire damage mitigation system that would protect the runway major structural elements from the design fire event that may happen within the tunnel cells. This paper addresses the issues related to the fire event originating within the tunnel encompassing the US1 highway only, and deals with requirements of NFPA 502 [5] exclusively. Therefore, while approaching the structural fire protection issues for the specific tunnel cells beneath the runway structure, the requirements of the American National Standard NFPA 502 (Standard for Road Tunnels, Bridges, and Other Limited Access Highways, 2008 edition) were followed. Per this standard, regardless of tunnel length, all primary structural concrete and steel elements shall be protected in order to:"

Jan 1, 2016

By Manuel Pérez-Tello, María M. Salazar-Campoy, Óscar Rodríguez-Hoyos

The Kaldo furnace is a type of top-blown, rotary reactor that is widely used for the production of precious metals. During the production of doré, a gas jet of compressed air is injected through a water-cooled lance to impinge upon the molten bath surface in the presence of molten metal and a slag phase. A common problem during operation is the difficulty in controlling the distance that the injection lance can penetrate through the reactor mouth without being splashed by the molten phases. Splashing may produce accretions on the lance surface as well as plugging of the nozzle at the lance tip. An additional problem may occur when the gas jet impinges upon the furnace wall and causes rapid wearing of the refractory linings. Because the conditions prevailing in the Kaldo furnace offers poor visibility to the human eye, its operation mostly relies on the empirical knowledge of plant operators and process engineers. A systematic study in a scale model of the Kaldo furnace under controlled laboratory conditions may be valuable to estimate the maximum penetration distance of the injection lance, and thus help improve the operation of an industrial reactor. From a fundamental perspective, the observation of the basic features of the flow patterns in the scale model may help elucidate the relevant phenomena governing the hydrodynamics in this type of system.

By Ralph M. Foecking

The disposal of the phosphate slimes produced by Florida beneficiation operations is perhaps the biggest single problem of the phosphate mining industry. This is an old problem which has not been solved and which is becoming increasingly severe. In a typical phosphate mining operation, the phosphate rock mined is initmately mixed with sand and clay, constituting what is known as matrix. During the beneficiation, the clay and other fine materials are separated usually at -150 mesh, and washed from the phosphate rock in a form of diluted slurry known as phosphate slimes. The quantity of slimes solids and their composition vary considerably with the location but usually represent from 25 to 35% of the ore mined. Because of the affinity that clays have for water, large volumes of water are required to separate the granular material in the matrix forming a dilute slime suspension (1.5 to 3% solids) of colloidal material, which settles very slowly, and thus requires immense impounding areas, which never becomes totally usable land. These ponds also contain about 25 to 35% of the total P205 values mined. The magnitude of the problem represented by the slimes can be appreciated better if we realize that there are around

Jan 1, 1971

By U. B. Kodukula

The iron ore beneficiation plant at Serra-Azul Mines of ArcelorMittal, Brazil operates at a rated capacity of 3.2 million tons per year. The ore is concentrated using magnetic separation, jigging, hydrocyclones and spiral concentrators. The tailings from the process plant are generated from classifier overflow of 135 tons per hour dry solids and thickener underflow of 48 tons per hour dry solids. A systematic experimental program was carried out using Multi-gravity separator (MGS), and wet high-intensity magnetic separator (WHIMS) for recovering the iron values from both of the tailing streams while minimizing the total quantity of tailings to be discarded. The classifier overflow contained 32.3 percent iron, 49.9 percent silica and 2.18 percent alumina and was 45 percent finer than 45 microns in size. The thickener underflow sample contained 47.3 percent iron, 27.6 percent silica and 2.49 percent alumina and was 16 percent finer than 45 microns in size. Separation results on the classifier overflow sample with the MGS indicated that a concentrate containing 62.1 percent of iron, 10.8 percent silica and 0.36 percent alumina can be achieved with a weight recovery of 24.5 percent. The results with WHIMS at 6500 Gauss indicated that concentrate containing 62.6 percent iron, 8.3 percent silica, and 0.65 percent alumina can be achieved at a weight recovery of 34.7 percent. 4.7 percent. WHIMS studies at 6500 Gauss on thickener underflow sample indicated that a concentrate containing 61.4 percent iron, 8.8 percent silica, and 1.74 percent alumina can be achieved at a weight recovery of 57.2 percent. Based on these results, and further in-house test works, a WHIMS installation was adopted for the recovery of iron values from the tailings in the operating plant at ArcelorMittal Serra Azul Mines, Brazil.

Feb 23, 2014

By MAHESH SHRIWAS, CHRISTOPHER PRITCHARD

Ventilation monitoring and control in mines are becoming an integral part of day-to-day activity for maintaining health and safety of miners. The authors evaluate potential real-time monitoring solutions for detecting and reducing diesel particulatematter, mine fires, and dust in situ, and examined the state-of-the-art use of ventilation monitoring and control in underground mines for detecting and reducing air contaminants to acceptable regulatory limit. Authors review relevant documents, including research papers, trade publications, and manufacturers’ website-based information, to identify research gaps. The authors also evaluate contemporary sensors (airflow, gas, dust, silica), control system and software technologies, data transport systems, Industrial Internet of Things, ventilation network simulators, and control devices to identify potential health and safety research gaps. In this study, examples of some mines from Canada, Australia, and the USA are included where ventilation monitoring and controls have been applied. Overall, this review identifies multiple challenges and research gaps in applying mine monitoring and control systems that could be the focus of future research, offering potential improvements to miner safety and health and financial benefits.

May 12, 2020

By M. E. Rossi

This paper discusses the use of Conditional Simulation (CS) models to provide mill feed grade profiles for different time periods. The conventional approach of classifying block estimates as ore or waste generally does not adequately represent dilution, lost ore and the anticipated grade control data, including variability of mill feed from the pit and possible stockpiles. The detailed simulation of grade control practices can be done, but at the Pre- or Feasibility stage of the project may be impractical, since drawing dig limits on multiple benches is tedious and time consuming. Using the Feasibility Grade Control (FGC) method as developed by the Centre for Computational Geostatistics (CCG, University of Alberta-Edmonton), the CS models can be processed quickly to establish dilution and lost ore, and predict daily or short-term feed to the mill. The simulated nodes can be aggregated into selective mining units with adequate representation of likely geometries to be recovered from the pit, to mimic anticipated selectivity. An example from a large copper deposit is shown. The study provides an estimated stream of tonnages and grades fed to the plant by mining periods of interest and based on a specific mine design and schedule. The resulting cash flows support the economic and financial analyses of the Feasibility Study; also leads to improving mine schedules; and aids in developing blending schemes if necessary. INTRODUCTION The conventional approach of separating mineralized material into ore or waste categories does not always include a realistic amount of dilution and ore loss. Also, often it does not provide a good estimate of the grade that will be fed to the mill. If the grade control estimates are unbiased, they will over the long run represent the long-term average of grades fed to the mill; but the anticipated variability of mill feed from the pit and stockpile sources may be misrepresented. Some references on traditional grade control implementations can be found in Chunnett (1982); Davis et al. (1989); Srivastava et al. (1992); and Nowak (1992). Alternative methods based on economic variables improved significantly on the purely grade-based control methods, see Douglas et al. (1994). Further developments involved the use of geostatistical conditional simulations (CS) and profit models, which in several cases have been successfully implemented (Aguilar and Rossi, 1996; Rossi, 1997; Deutsch et al., 2000; Norrena and Deutsch, 2002; Neufeld, 2005; Jewbali and Dimitrakopoulos, 2009). But they can be impractical, mostly due to the lack of understanding of the methodology involved; even if semi-automatic dig limit drawing is implemented, there is always a need for is tedious and time consuming checking and corrections, even if using a single profit model derived from the simulated grades.

Jan 1, 2019

By Matthew S. Sanchez, Richard J. Lee, Matthew D. Zock, Drew R. Van Orden, Yumi Kamiya, Edward B. Ilgren

In many developing countries, asbestos is still used for friction products, insulation, and asbestoscement products. However, there is very limited modern data evaluating the airborne concentrations of asbestos fibers in operating asbestos plants. We have conducted an Industrial Hygiene survey, using state of the art PCM and TEM analysis, of a Bolivian asbestos cement plant that uses crocidolite during the production of roofing shingles and water tanks. The study is the first to use modern analytical measurements in an uncontrolled asbestos environment. Thus, this study offers insight into the historical airborne exposures at asbestos plants operating before modern dust control measures were introduced or airborne fiber levels regulated. The results suggest that fiber concentrations are far in excess of those for which current models would predict the onset of asbestos disease and mesothelioma. Significantly, the plant and community do not have an elevated incidence of asbestos disease or mesothelioma. Airborne fiber levels during comminution and fiber sizing ranged from 100 to as much as 1,000 f/cc. Fiber levels in the mixing, forming and finishing areas ranged from 0.5 to 9 f/cc. Based on the number of overloaded samples and estimates of their concentration, historical estimates of exposure may be underestimated by an order of magnitude. Also, an excellent correlation (1:1) between the PCM and TEM fiber concentrations (for fibers _0.25 um diameter) were obtained, raising questions about the conventional wisdom that the PCM systematically undercounts fibers. The results of this study further indicate that current models may overestimate the risk of asbestos disease and mesothelioma.

Jan 1, 2012

By S. K. Kawatra

It is common in coal-cleaning operations to produce a fine waste stream which contains a considerable amount of coal, but which is not economical to recover both because it is mixed with large amounts of difficult-to-remove clay slimes, and because the fines are often heavily oxidized. Conventional froth flotation machines cannot produce an acceptable product from such material in a single stage of flotation, and even flotation columns often have difficulty cleaning this type of feed. A new type of flotation column was designed specifically to deal with these problems, and was installed and tested in a coal-cleaning plant in Ohio. The feed coal contained 39.8% ash as fine clay, and 2.83% total sulfur, and was 80% passing 176 micrometers. The coal was a thickener product which had oxidized for some time, and was very difficult to float. However, using the new column it was possible to recover up to 85% of the calorific value in a product containing less than 11% ash, and up to 60% of the calorific value in a product of less that 8% ash. The bulk of the pyritic sulfur was rejected from the coal as well. Multistage flotation tests showed that the flotation column was able, in a single stage, to produce the best froth flotation product that it was possible to recover from this coal.

Jan 1, 1994

By Alden B. Carpenter

Oil-field brines have been collected and analyzed from Jurassic and Cretaceous rocks in the Mississippi Salt Dome Basin, from Jurassic and Lower Cretaceous rocks, southwestern Arkansas, and from Ordovician and Silurian rocks, southern Michigan. All of these brines are genetically related to evaporites and appear to be brines expelled from halite-bearing rocks, presumably during compaction. The brines in rocks closest to the halite-bearing rocks are uniformly low in lead and zinc suggesting that the metals in metal-rich brines are not acquired within evaporite sequences. The metals in metal- rich brines in Mississippi and in Russia appear to be derived from red beds and may have been originally associated with ferric iron oxyhydroxides. Reduction of these compounds by migrating hydrocarbons appears to release lead and zinc to the associated brines accompanied by the fomation of authigenic ankerite.

Jan 1, 1979

By D. J. M. Grodzian

Polymorphic transformations taking place in grinding processes, of massicot to litharge in PbO system, and of y to a in Fe203 system, were re-investigated. Grinding was carried-on in a steeel rotation mill charged with WC balls, under inert atmosphere. The kinetics of transformation in PbO was established by means of quantitative X-ray diffraction analysis. The resulting data fit a modified logistic growth function up to about 75% of transformed volume fraction, when a mixture at steady-state equilibrium is formed. The reasoning for the use of a modified logistic function is discussed. A sigmoidal growth function can be used if resulting data fit also an empirical power relationship between transformed volume fraction and time. However, it lacks the significance expressed by a modified logistic function. Assuming, the loss in magnetism is directly related to the amount of transformation in Fe 203, a quantitative analysis was performed using a magnetic balance method. The results fit only the modified logistic growth function, and transformation proceeds almost to completion. A wide literature survey of the subject is given. Available data from literature is compared with the results of the present study, and is shown also to fit a modified logistic grown function, with surprisingly similar slpes in a linear plot, independently of the material. The instrumentation effect on kinetics parameters, and the establishment of equilibrium mixture values, are discussed.

Jan 1, 1975

By J. M. Duke

Significant resources grading less than about 1 % nickel occur in magmatic sulfide deposits of two types. In the Mt. Keith type, extensive zones of disseminated nickel sulfides occur in the central portions of certain synvolcanic dunite-peridotite sills of komatiitic affinity in Archean greens tone terranes. In the Duluth type, disseminated copper-nickel sulfides occur near the basal margins of intrusions of flood basaltic affinity associated with intracontinental rifting. In both types, the parent magmas became saturated with sulfide following the onset of fractional crystallization and the separation of the immiscible sulfide melt was accompanied by the precipitation of a relatively large proportion of silicates. The abundant silicate crystals impeded the coalescense and accumulation of the sulfide droplets with the resulting formation of large but low grade deposits.

Jan 1, 1982

By C. C. Clark, D. J. Benton, J. B. Seymour, L. A. Martin

"The U.S. National Institute for Occupational Safety and Health (NIOSH) is conducting research on jackleg use and related accidents in underground metal mines. This paper provides an analysis and overview of jackleg drill usage, accidents, operational characteristics and alternatives, based on information from injury reports, legacy research, stakeholder input and published literature. The results indicate that jackleg drills are involved in more groundfall accidents in underground metal mines than any other drill, and jackleg-drill-related injuries are most prevalent at the face in the course of installing initial ground support. Practical mechanized alternatives to jackleg drills for drilling and bolting under incomplete support in narrow underground openings have not yet been realized. Small, versatile mechanized bolting equipment needs to be developed to address jackleg-drill-related accidents and improve safety at mines where jackleg drills are being used. IntroductionJackleg drill is a generic name for a handheld, rotary, percussion rock drill equipped with an attached reaction leg to provide stability and thrust (Fig. 1). All of the drill and leg controls are located near the operator’s handle at the rear of the head portion of the drill. Jackleg drills are classified according to the bore size of their pneumatic pistons, which normally range from 6.03 to 8.26 cm (2.375 to 3.25 in.) (Kurt, 1982; Clark, 2012). Jackleg drills typically weigh 46.7 kg (103 lb), but the weight can approach 54.4 kg (120 lb) after being fitted for operation with drill steel and air and water hoses (McKibbin and Clark, 2001). In underground mines, jackleg drills are commonly used to drill 3.8-cm (1.5-in.) diameter holes up to 1.83 m (6 ft) deep in rock."

Aug 1, 2016

The use of coal as a fuel causes air, pollution in; a number of different forms, and in nearly all stages of its, handling, preparation, storage, use and-disposal of its residue. First let us consider the handling of coal. As shipped, particularly to large utilities, it is run-of-mine bituminous made up of large chunks as well as pulverized particles. Because it 'is in an open car or barge, it is subject to the action o winds and the small particles may be blown around adding to the-particulate load in the atmosphere. Mien un¬loaded from the barge or car, there is again an opportunity for the wind to blow the fine particles around. All of us I am sure have seen a barge at the dock of a utility plant being unloaded by a clamshell bucket. This, after grabbing its load from the barge, lifts it some 60 or 70 feet and, then drops it on a conveyor, which carries the coal to a storage area.

Jan 1, 1964

By M. Allan Holtz

The shipment of coal, ores, and minerals in bulk form during the winter months presents a difficult problem in emptying rail cars. U. S. Steel Research in cooperation with U. S. Steel Coal Operations bas laboratory tested and field monitored the effectiveness of using freeze conditioning agents (FCA) to minimize the frozen coal problem. This report examines, in an overview manner, our experience after four seasons of treatment using different FCA agents on raw and preparation plant products. Our observations indicate that if an FCA is applied correctly it is effective mineral to mineral. Freezing problems still occur at the interface between the coal and the metal of the car sides and bottoms. Leading chemical suppliers have made positive improvements in their FCA formulations with second and third generation products. Further advances are needed to make chemical treatment for the prevention of frozen coal a real full-proof method.

Jan 1, 1980

By C. Frenzel, N. Blechschmidt

"INTRODUCTION There is no doubt about the time and effort companies put in establishing and maintaining their equipment. However, the question about how these companies can map the benefits comes up. Neither do they have the tools to quantify the benefit of their action, nor do they have the tools to know the actual quality of their current maintenance system. The resources used in the process seem futile to observers. It seems impossible to trace improvements and to get information about the impact of actions in retrospect. Improvements in maintenance performance cannot be recognised by management or shareholders. Thus the necessity for measuring the performance of maintenance systems is given. In this paper ConMoto is systematically showing the strengths and weaknesses of many companies' maintenance management and is providing field-tested proven design elements for measuring maintenance systems and implementing Value Oriented Maintenance. Considering only business assets in production facilities and related machinery out of all investment goods in Europe, you reach a value of around 9.7 trillion euros in 2008. In Germany alone the equipment replacement value amounted to about 1.9 trillion euros [8,10,11,13]. If you calculate a cross sector maintenance costs rate of 4.8 % (corresponding to the average value identified in this study), direct maintenance costs in European production locations add up to over 450 billion euros per year [3]. These figures speak for themselves. Yet maintenance is not only of enormous significance for European enterprises. Our experiences show that maintenance and asset management, particularly sustainability issues, are also increasingly moving to the forefront in the BRIC states, in the Middle East and in many emerging countries. First of all, in order to meet the resulting high quality and cost related requirements of maintenance systems, a comprehensive overview of the issue is needed. This overview is provided by a detailed analysis of 83 companies and production plants from various sectors – with amazing results. SIGNIFICANCE OF MAINTENANCE Current studies show the high financial significance of maintenance and asset management. According to the market study in the Asset Manager [9], in industrialised countries about 10 to 15 per cent of the labour force are employed in maintenance and facility management tasks. In Europe about 40 to50 million people are directly and indirectly involved in retaining the value of machinery, plants, buildings, transport systems and infrastructure facilities. A glance at the costs side also demonstrates the great relevance of maintenance. EU-wide annual direct maintenance costs amount to a total of more than 1,500 billion euros. In Germany alone they are about 250 billion euros. This impressive total is considerably exceeded by indirect maintenance costs caused by technical failures. Indirect costs are estimated to be five times higher (Figure 1). [7,12,14]"

Jan 1, 2018

By Roshan B. Bhappu

Although the economic importance of recovering copper by leaching of mine work dumps from open-pit operations has been realized for some time, serious attempts to understand and to improve such operations through scientific research has been made only in recent years. This progress report covers the results of chemical, physical, and biological studies pertaining to the dump leaching process and discusses salient features and parameters that may be helpful in improving such operations.

Jan 1, 1968

By Albert Hofstra, Joel Leventhal

The gray, dark gray and black colors of the sediments and the presence of pyrite in the Carlin, Jerritt Canyon, Horse Canyon, Betze, and Gold Acres sediment-hosted disseminated gold (SHDG) deposits indicate that these rocks are not oxidized with respect to carbon and iron sulfide. Both ore and non-ore host rocks generally are dark colored. Analyses for noncarbonate carbon (usually called organic carbon) in samples from SHDG deposits and related unmineralized rocks indicate that these rocks contain from a few tenths to a few percent carbon. We use the term noncarbonate carbon because, strictly speaking, organic carbon denotes carbon that is bound to hydrogen. However, the carbon present in SHDG deposits and related rocks has very little hydrogen chemically bound to it. Rocks with less than 2% organic carbon are usually gray in color. The dark colors in our samples are due to the relatively high temperatures that these rocks have experienced relative to organic matter maturation. We confirm the results of Nelson et al. (1982) that previous reports (for example, Radtke and Scheiner, 1970) were incorrect in reporting significant amounts of humic acids, extractable hydrocarbons (bitumen) or "carbonaceous" material. We believe these reports had problems with contamination or misdirected emphasis. Our samples consisted of unweathered rocks, collected mainly from mine cuts (benches, trenches, cores) and put into glass containers or wrapped in aluminum foil to avoid contamination. Only a few samples were collected from natural outcrops. We were careful to avoid samples in proximity to blast holes that were packed with ammonium nitrate and diesel fuel ("ANFO"). Contamination by ANFO may explain some of the previous reports of hydrocarbons, pyrobitumens, humic acids and anomalous nitrogen. When we were collecting samples, it was apparent that in addition to lithologic and color differences, the surface appearance of the rocks was distinguishable: "preg robbing" material that had a sooty surface; "graphitic" rock with a shiny surface; and more ordinary rocks that had a flat gray or black appearance. [Preg robbing is a term for ores that adsorb gold from the milling circuit; the graphitic material had not been x-rayed to actually identify graphite.] We hoped that laboratory study of these samples would show some fundamental differences that we could relate to ore genesis. Even though these sample types appeared different in the field, we could not distinguish any differences in thermal maturity (see below). Normal petroleum/organic geochemical laboratory procedures (solvent extraction, Rock-eval, pyrolysis-gas chromatography) failed to yield much information because the carbon was over-mature relative to oil and gas generation. Rock-eval results show less than 20 (± 20) mg of pyrolizable hydrocarbons per gram organic carbon (and an indeterminate Tmax) indicating that the organic matter in these deposits is burned-out relative to petroleum generation [with an H/C (atomic) ratio of less than 0.41. Because of the non-definitive results from standard organic geochemical methods, x-ray diffraction (XRD) and Raman spectroscopy were used to characterize the carbon. Prior to XRD, samples were treated with HCl and HF acids (1) to remove quartz that has a peak near 26° [20] at the position of the 002 peak of graphite and (2) to concentrate the carbon to a level detectable by XRD. The residue was put on a colodion mount and analyzed by XRD. The XRD analyses yielded a broad peak at 26° [20]. The shape of this peak indicates that the carbon is more thermally mature than anthracite rank coal but less mature than crystallized graphite. Based on XRD results from the literature (Landis, 1971) that are calibrated to metamorphic facies, results from our samples correspond to pumpellyite-actinolite to lowermost greenschist facies conditions, probably

Jan 1, 1990

By Donald W. Gentry

Introduction The mining industry is perhaps best characterized by the numerous and abnormally high risks associated with the business of mining and by its most basic assets - ore deposits, people and technology. At the most fundamental level, it is the quality and effective utilization of these basic assets that determine a mining company's ability to compete efficiently in the international market place. The gold industry has received much attention in recent years and especially in recent months, for good reason. This commodity serves as an excellent platform for the subsequent discussion of these three basic assets and their role in mining's future. Facets of the gold industry The fate of this noble metal in recent times illustrates some of the various risks associated with the mining industry and the importance of high-quality assets, whether they be ore deposits, people or technologies. The following comments pertaining to the gold industry help place proper focus on subsequent discussions. All monetary amounts given are in US dollars. Throughout 1997, falling gold prices broke record after record: first hitting three-year lows, then a 12-year low in July and finally an 18-year low at year's end. From Jan. 1 through Dec. 31, 1997, the price of gold fell by more than $2.57/g ($80/oz), or some 22%. The decline in gold-mining profitability and stock prices was even more dramatic. At the beginning of 1997, the 20 largest gold producers in North America had a market capitalization of approximately $44.5 billion. At year's end, this market cap had fallen to $26.2 billion, a reduction of 41%. The total market cap of all the world's gold companies fell from $71 billion to $46 billion, a 35% drop (Serwer, 1998). Analyses suggest that, at a spot gold price of $9.65/g ($300/oz), only one, or possibly two, North American gold-producing companies can make money when break-even or "total costs of production" are considered. While strong hedge positions mitigate this situation in the short term, clearly, this is an industry in desperate straits. For example, write-downs for North American producers in 1997 were approximately $2.5 billion. Speculative short positions in 1997 were near historical record highs and generally exceeded long positions by factors of 9:1 or 10:1. Much of this is driven by some US commercial banks, hedge fund managers and commodity speculators who can significantly move gold prices sharply over short periods of time by selling gold they do not own in the expectation they can buy it back at a lower price before they have to deliver. These signifcant short positions are likely to continue as long as central banks are willing to sell or loan gold to financial institutions that in turn make the gold available to speculators who hope to capitalize on price fluctuations. The Far East accounts for approximately 26% of the annual demand for gold. Including India, the region accounts for 43% of total demand. More than 85% of the physical demand for gold is for investment jewelry in Asia and the Middle East. This demand is extraordinarily price sensitive. The fairly recent turmoil in Asian markets and economies, combined with currency devaluations throughout the region, have made gold more expensive (30% to 50% in local currencies) for those peoples most likely to treat gold as a safe investment haven. Higher interest rates also have reduced the amount of money they have to spend on consumer goods such as jewelry. All of these recent Asian events are deflationary in nature. Deflation, if coincident with rising unemployment, could result in significant dishoarding of gold. There is one key fact to remember when analyzing

Jan 1, 1999