Search Documents

By George H. Willis

In the second half of the nineteenth century, bimetallism progressively replaced by gold standard. After World War I and 1931-33 depression, gold mainly reserved for official international transactions and internal use restricted. Changes since 1971 have shrunk official international use of gold. International payments deficits and surpluses now financed by private and official credit, rarely by gold. Historical review covers evolution of: (1) internal and external private use, (2) internal official use, (3) external official use, (4) role in IMF and (5) use as unit of account.

Jan 1, 1978

By James R. Evans

Orange County, adjacent to the populous and industrialized Los Angeles area, is the fastest growing county in California and is second only to Los Angeles County in total population (figure 1). In addition to an equable climate and a burgeoning economy, there is room in Orange County for growth and expansion. Growth over the past decade has resulted in rapid development of industrial tracts, housing areas, and shopping and commercial centers, mostly in former agricultural areas. The value of new building in 1972 was a record amount-over I billion dollars (figure 2). Problems relating to the proper direction of growth are the concern of both government and the private sector. The intelligent and efficient use of areas to be developed requires planning for the conservation and protection of the County's natural beauty and for the orderly development of natural resources. The availability of sand and gravel, which is used in many phases of construction, will be a major controlling factor in the future of the County.

Jan 1, 1974

By COLIN A. LAWRENCE, Anthony Del Vescovo

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2017

By Alan K. Burton

Massive increases in the productive capability of open pit nines after World. War II were in a large part made possible by the introduction of ever larger trucks and the supply of a seemingly bottomless ocean of inexpensive and readily accessible oil. Over a period of about 25 years, a variety of technological developments permitted a tenfold truck payload increase, from about 32 tonnes (35 tons) to 320 tonnes (350 tons). There is no, doubt that this was a remarkable achievement resulting in impressive benefits of scale as well as the ability to control what would otherwise have become an intolerable traffic congestion problem in today's large open pit mines. It became fashionable and economically possible during this time to mine large quantities of low grade material and to tolerate very high stripping ratios. As tine has gone by and as easier to get at and higher grade deposits have been depleted, ore grades have tended to decline while stripping ratios have increased. The alternative to reduced revenues has been an ever increasing demand to step up production which in turn has led to a continuing demand for ever larger and larger trucks. While a larger truck has had the effect of reducing the cost of the operator per unit of material moved and of reducing traffic congestion, it has not specifically addressed the subject of fuel cost.

Jan 1, 1981

By Gregg Davidson, Lonnie Jacobs, Brett Zernich, Alan Howard, Robert Pintabona

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2014

By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By F. Mielli

Ranging between 20% and 40% of the typical mining operational costs, energy in mining operations is a growing concern for the industry. However, this concern is a complex, multi-faceted variable that involves government regulations, societal pressures, cost and competitiveness. A mining company successful in energy efficiency is becoming the standard of a successful company. The suggested energy strategy in mining and mineral processing operations has to follow a well structured approach that entails the following: ? Understanding where energy is being used and why, ? Recommending and implement energy conservation measures, ? Driving visibility to targets and results, ? Leveraging the energy spend across the enterprise, ? Developing a robust energy and sustainability strategy.

Jan 1, 2012

By Thomas D. Kaufmann

Introduction What drives the price of gold? Supply and demand, of course. But in ways far different from the forces that drive the prices of other major metals, such as steel, aluminum, and copper. Gold, in fact, is one of the few commodities where both buyers and sellers are happy when the price goes up. Current production, production costs, and variations in production have little influence on its price. Gold inventories are so tremendous that current production has small impact on the amounts available to the market at any time. Worldwide gold inventory and production The world's inventories seem to be between 78 and 98 kt (2.5 and 3 billion oz). Since biblical times, the gold miners of the world have produced about 98 kt (3 billion oz), mostly in this century. Only small amounts have been thrown away and most of it - more than 78 kt (2.5 billion oz) - remain in bullion, coins, or jewelry. About 40% is held by central banks and other governmental authorities, 30% by private individuals as bullion or coins, and about 30% as jewelry. Except for some of the jewelry and the few industrial applications, this inventory is constantly available in marketable form at a price. By comparison, gold production is indeed small. The US Bureau of Mines estimates that the world produced 1.5 kt (50 million oz) of gold in 1986. Consequently, production increased world inventories by only 2%. Variations in production have a negligible or very short-term effect on the supply and, consequently, on the markets for gold. Although South Africa mines about 40% to 50% of the world's annual production, continuing labor strife there does not seem to have ruffled gold prices. Determining gold's price Gold prices, however, do determine cutoff grades in the mines and, thus, do influence production. Nonetheless, changes in production have little impact on the inventory supply. Consequently, it has small influence on the price of gold on the market. With a fairly stable supply, price changes are driven by changes in its demand. Unlike other metals, very little of the demand for gold comes from industry. Dental, electronic, and other industrial uses for gold consume less than 46.6 t/a (1.5 million oz per year). It would be safe to assume that such uses are less than 124 t/a (4 million oz per year) for the entire world. Variations in the 124 t (4 million oz), compared to a supply of 78 kt (2.5 billion oz) of supply can have only a negligible effect. Production net of industrial uses adds perhaps 1% annually to world inventories. This could, in time, affect markets. The increase, however, is mostly absorbed by population growth - more people wanting to own gold - and by gold being put in more attractive forms, such as coins. As an ancient Lydian king discovered, minting bullion permits

Jan 9, 1987

By Willard C. Lacy

A mining operation begins with prospecting and exploration-stages with long periods of investment and high risk of failure. However, success in exploration ultimately determines survival of the mining industry. Prospecting and exploration may discover evidence of a mineral occurrence and outline its size and character, but ore deposits that support mining are "made" through the collective efforts of project geologists, geophysicists, geochemists, metallurgists, engineers, chemists, lawyers, and even politicians (Joralemon, 1975). Some deposits may go through multiple cycles of rejection and recommendation, discovery and development, decline and abandonment, rediscovery and development, etc., as economic, technological, or political conditions change or geologic understanding is improved. Peters (1987, p. 233) graphically illustrates the normal life cycle of a mine and the position of exploration in the cycle (Fig. 4.0.1). During the past fifty years, mineral exploration has evolved from comparing evidence of mineralization of prospects with that of known deposits to a more quantitative science employing many facets of geochemistry, geophysics, multispectral sensing from space, computer data storage, analysis, modeling, and most importantly, a better understanding of ore genesis. This modem approach to exploration began in the late 1940s and continues to develop. Exploration efforts peaked in the 1960s with emphasis upon the search for porphyry copper deposits, Mississippi Valley lead-zinc deposits, and volcanogenic massive sulfide copper-lead-zinc deposits. It peaked again in the middle and late 1980s with emphasis upon micron-size disseminated gold and epithermal and stratiform precious metal deposits.

Jan 1, 2008

Contributions made by mining have played a much more significant role in the development of civilization than is generally conceded by historians or recognized by ordinary citizens. In modern society, mined products pervade all industry and the lives of all civilized people. Early man relied largely on stone and ceramics, and eventually metals, to fashion tools and weapons. Civilization was advanced by discoveries such as abundant supplies of high-quality flint in northern France and southern England and firesetting to break rock. Middle Eastern cultures flourished not only because of agriculture and trade, but also because of mineral-rich deposits nearby. The earliest miners date back perhaps to 300,000 BC; their quest was for nonmetallic minerals (chert, flint, obsidian) suitable for utensils and eventually for weapons. Other rocks and minerals (ceramics, clay, salt, meteoric iron) attracted the miners for jewelry, cosmetics, construction materials, food seasoning, and coinage. At first, their excavations were confined to the surface, either pits or placers. But by about 40,000 BC, mine workings had been extended underground as short adits or shafts, and by 8000 BC as elaborate interconnected openings 300 ft (90 m) in depth. Metallurgical separation of metals from their ores and their subsequent fabrication evolved gradually over the centuries, copper being the first liberated (c. 7000 BC) followed by lead, silver, gold, and iron. Man enhanced both the sophistication of his

Jan 1, 2008

By D. S. Yantek, C. B. Brown

The mining industry is beginning to implement lithiumion batteries (LIBs) to power mine utility vehicles (MUVs) and rubber-tired mantrips (RTMs). However, the ability of LIBs to withstand the harsh conditions for these applications has not been rigorously evaluated. Concerns with the use of LIBs in the mining environment will be discussed including the effects of mechanical shock and vibration, temperature extremes, and moisture exposure. This paper will discuss adverse effects of the mining environment on LIBs and provide an overview of scientific gaps associated with the environmental susceptibility of LIBs used on MUVs and RTMs.

Feb 1, 2024

By H. Ehnes

"“Industry 4.0” – “Mining 4.0” - perhaps you have already heard of these terms? These keywords signify the next stage of industrial production. The internet and production technologies are growing closer together. Machines can communicate with one another, wherever they may happen to be located. The “Internet of Things” is the appropriate term. But what does SAFETY 7.0 mean? It is both brand new and traditional at the same time. It also has to do with the success of companies, with efficient production. And yet there is a great deal more at stake. It has to do with our lives and our safety – the supreme commodity in this world. What exactly SAFETY 7.0 means, what the number 0 stands for and the meaning of the number 7, and what this all has to do with mining will be explained in the following article. Mining is a fascinating undertaking. Mining is indispensable for a country’s economic development, whatever that may concern: infrastructure, energy supplies or raw materials for industrial production. Mining has brought forth many technological developments and innovations that can currently be found in our daily lives. Mining is impressive, grandiose and repeatedly fascinates mankind with its immense dimensions. Miners throughout the world still work hard and, for this reason, are bound to one another in a special way. In mining, every man looks out for the other; you have to be able to rely on each other. That creates a strong bond. The other side of the coin is that mining and disasters belong to normality in the media and thus also in our perception. Accidents at work and even catastrophes occur in mining, quarries, or raw material operations almost on a daily basis somewhere in the world. They are often associated with extremely serious injuries, or even a fatal outcome, for the miners affected and, in turn, dramatic consequences for the families of those involved. It could be in China, India, Russia, or somewhere in Africa, Asia or America – it mostly does not happen in front of our door or in our neighbour- hood. Perhaps because of this in the daily concert of negative headlines, we do not register these catastrophes any more in our minds. We write them off under the heading “Nothing special”, since there are, day in day out, more terrible news items about wars, civil wars, famines, or ecological disasters. Things only really change if there is a dramatic number of deaths or when we are personally affected, close by in the vicinity, or can witness the rescue action live. In Europe, these three mining disasters in particular have recently generated media resonance:"

Jan 1, 2016

By F. Mielli

Camera systems and video surveillance are usually associated with people and asset protection. However, they can be applied in a mine environment beyond conventional surveillance: For process monitoring, collision avoidance, sizing, flotation cells, conveying systems, blasting, objects and people tracking, thermal profile, and to automatically identify equipment that is missing parts,. Image and video solutions can be driven by better integration of powerful video analytics and cameras systems in automation tools such as process controllers and supervision systems.

Feb 27, 2013

By S. James Campbell

Ladies and Gentlemen: Never in the history of our mining industry has the emphasis on public relations been accelerated as much as it has in the last few years. Knowing of your keen interest in this subject I consider it a great privilege that your program committee has asked me here to discuss the crushed stone segment of our industry approach to this important part of our daily business lives. As you are aware, crushed stone operations are present in almost every segment of the country wherever aggregates for construction projects are required. The tonnage of crushed stone produced is second only to sand and gravel - another source of aggregates - and this together with sand and gravel amounts to over half of the tonnage of all mined products in the United States. What is unique about this industry that will be of interest to all of you in analyzing how they have approached Public Relations? The fact that it is so wide-spread is of course obvious, but perhaps a more significant nature of this segment of the mining industry that has brought it more in the limelight of public interest and on a larger scale is the location of a large part of the quarries quite close into the urban area and population centers where you have the greatest demand for aggregate products.

Jan 1, 1969

By P. Sarnoff

Gold has always been a crisis investment. For centuries gold has been considered globally the money of last resort. In time of war, inflation, financial uncertainty, political upheaval there has with few exceptions always been a flight to gold. The gold paradox simply is that even though we have gone through for the past handful of years all the kinds of. anxieties that would cause the gold price to rise, it has instead dropped drastically. Figure 1. illustrates the important factors that influenced the gold price significantly up or down before 1987. Obviously, since then, even though we have had wars, inflation, financial problems involving breaking banks and thrifts let alone collapsing financial institutions, the gold price has both in the long-term and the short-term trended downwards. Figure 2. depicts the gold price path since 1987. If the presence of time-honored and time-tested factors that should have driven the gold price up didn't do the job, then logic dictates that new factors to drive the gold price down and keep it depressed arose. And they did. But before addressing these depressants permit me to turn to the arcane art of gold price prediction and fore-casting.

Jan 1, 1992

By Douglas W. Fuerstenau, Pradip Pradip

The design and development of selective flotation collectors has been the key to the remarkable success of flotation in beneficiating complex, difficult-to-process ores. Sustained research efforts in the field over the past hundred years have led to delineating the scientific basis of selective mineral flotation in terms of the crystal chemistry and the surface and colloid chemistry of minerals including their solubility, and the aqueous solution chemistry of added reagents. It is now well-established that the electrical double layer theory (EDL) is the most powerful means of quantifying the relative strength of mineral-reagent interactions in the case of nonsulfide minerals. We illustrate the utility and the power of the EDL in delineating the science underlying selective mineral flotation with the help of a few examples taken from our own work, in particular on the selective flotation of rare-earth minerals (bastnaesite) from associated semisoluble minerals (barite and calcite) using alkyl hydroxamate collectors and the flotation separation of lithium-containing minerals (spodumene) from associated alumino-silicate minerals with oleate (fatty acids). Both of these mineral separation systems are of contemporary research interest and of immense value to the industry today. Recent advances in utilizing molecular modeling computations, particularly in the context of quantifying the effect of crystal chemistry and the relative distribution of adsorption sites available on mineral cleavage planes, are also reviewed.

By S. Garcia, J. Gebhardt, D. McBride, A. Hernandez, A. Esplín, M. Cross

The Minera Yanacocha operation consists of several heaps interconnected with ponds and gold recovery plants and presents various operating challenges. A comprehensive process model has been developed in order to better understand the effects of certain operating parameters and inventory issues. An integral component of the process water/mass balance is a model of each heap that describes heap behavior based on the individual characteristics of the heap. The heap models are linked to a mass balancing program in order to track flows and concentrations throughout the circuit. A case study of the process heap model is presented for the La Quinua heap, including results for the normal base line operation and several operational problems such as loss of solution flow to the heap (i.e., pump failure), increased flow to a section of the heap (i.e., pond volume control), effect of significant rain events, and impact of a change in material properties (i.e., change in ore type). The impact on heap operating efficiency is discussed with regard to effects on recovery and gold solution grades.

Jan 1, 2007

By Mark Lawshe, Shosie Serata

The conventional method of mining underground, using narrow rooms and wide pillars, has proven to be poorly adapted to the powerful earth forces that act on underground openings. The high costs of roof bolting, timbering, steel arching, and other means of artificial roof support for both room-and--pillar operations and longwall gate roadways attest to the limitations of traditional mine design. Too often, productivity halts when corners buckle under "cutter roof' stresses, floors heave, and roof strata fall. In the 1960s, an entirely different approach to strata control was developed. The Stress Control Method (SCM) stabilizes failing roofs and heaving floors by removing the cause of failure - highly concentrated stresses around the openings. This is achieved by regrouping three to 10 rooms into a single entry where the rooms are separated by very narrow yielding but stable pillars. SCM employs a specified excavation sequence to redirect earth pressures away from the mine openings. The yield pillars act as scaffolding until a permanently protective secondary stress envelope forms around the entry (lower part of Fig. 1). The result is a dramatic improvement in roof stability and a significant reduction in artificial support costs. Some roof bolting must still be done, mainly to meet Mine Safety and Health Administration (MSHA) requirements. Potash, salt, coal mining The stress control method was first applied to the deep potash mines of Saskatchewan. The new SCM design actually increased room widths to enlarge the stress envelope, redistributing the stress concentration away from the entries (Serata and Schultz, 1972). This resulted in a turnaround from pervasive roof fall/floor heave conditions that threatened operations in the eight new mines opened in the Saskatchewan potash field during the 1960s. In addition to eliminating all roof bolting, SCM successfully stabilized ground conditions and substantially increased productivity over the original design (Serata, 1976, 1982). Similarly, the deep Boulby potash mine of Yorkshire, England, was about to close after various conventional means of combating roof failure had failed. An SCM test area was excavated that resulted in the ground quickly stabilizing without need o artificial support (Serata, 1982; Chilton and Laird, 1982). Another example is the Diamond Crystal salt mine in Louisiana. Here, multiple level mining was being extended from the third to the fourth level downward in the Jefferson Island salt dome. Extensive roof failure was occurring at 396 m (1300 ft) ii the third level. SCM design principles in creased the room size from 24 to 49 m (80 t( 160 ft) on the fourth level at a depth of 457 m (1500 ft). This unprecedented expansion of room width was first questioned and later ap¬proved by MS HA, which expressed satisfaction in seeing the improvement documented by field validation data in 1973. The most recent SUM application to salt mining has been in the Michigan Basin a: Goderich, Ontario. The anticipated abandonment of Domtar Chemicals Group/Sifto Salt Division's deep operation in bedded sale was prevented by a multi-year SCM implementation. The success of SCM in dry mining[lecc] to its application to solution mining of salt This adaptation of the method is now being implemented in bedded salt at Fort Saskatchewan, Alberta by Dow Chemical Co., and in St. Clair, MI by International Salt Co. Application of SCM to solution mining in a salt dome is proceeding at Napoleonville. LA by Dow Chemical. The same technology has also been applied to cavern design for the Louisiana Offshore Oil Port (LOOP), and the compressed air energy storage (CAES)

Jan 1, 1989

The Canadian concept for nuclear fuel waste disposal is being assessed by AECL Research in a series of experiments at its Underground Research Laboratory (URL) near Lac du Bonnet. Manitoba, Canada. As pan of this research, the Mine-by Experiment has been designed to obtain information on rock mass behavior, the development of an excavation-induced damage zone and failure mechanisms around a circular bored tunnel. An iterative design approach was used to effectively reconcile the experiment objectives and construction logistics. This paper discusses the design considerations and construction methodology adopted on the project.

Jan 1, 1991

By Bo Forsman

METAFORA is a simulation model for determination and evaluation of strategies for operating loader/truck systems in mining. A specific version of METAFORA was used to evaluate the haulage system at Solider Mineral's Aitik mine in northern Sweden, one of the largest open pit mines in Europe with a production of about 11.5 Mtpy (about 34000 tpd) of copper are. A production level of 34065 tpd was estimated by simulation runs with METAFORA. Using METAFORA's dispatch rules (Fixed Dispatch, Maximize Trucks, and Maximize Loaders), the truck/shovel system in the Aitik mine was simulated for evaluating alternative dispatch control strategies. The Maximize Trucks rule gave about the same total production (ore + waste) as the Fixed Dispatch rule but a 9% higher ore production. The Maximize Loaders rule gave the lowest production. The marginal truck capacity decreases with increasing number of trucks serving the same loader due to increasing waiting times. In Aitik mine the low crusher capacity results in long dumping times. If the dumping time at the crusher could be halved, the ore production would increase by 14%. The paper indicates that the use of software like METAFORA can result in a substantial reduction of time, effort and cost in shovel/truck system design and evaluation.

Jan 1, 1992