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By E. Yalçin, A. Ünal

In transitional mineralization, the sill of the underlying variogram is relatively easily estimated, but the estimation of the nugget effect may be more difficult. This study aims to determine for massive copper deposits just how sensitive the estimations of ore reserve, economic copper content, total net value, and ultimate pit limits are to the errors of estimation in the nugget effect of the spherical variogram model. A massive copper deposit which has a log-normal distribution and a spherical variogram was simulated on a rectangular grid using the turning bands method. By using the three dimensional random kriging method, the mean block grades were estimated at four different sampling densities. The ultimate pit-limits were determined by using the two-dimensional dynamic programming algorithm. To calculate the estimation errors, the values obtained by using the actual nugget effect and structured component values were deducted from the estimations obtained using the incorrect nugget effect and structured component values. For isotropic massive copper deposits, it was found that the ratio of the nugget effect to the structured component of the spherical variogram has no significant effect on either the block grades estimated by the kriging method or on the ultimate pit limits.

Jan 1, 1992

By G. Kollberg

"IntroductionThe SALA Caravan Mill system represents a proven concept for the design and operation of mobile and semi-mobile ore dressing plants.The Caravan Mill has been developed to meet the demand for a flexible processing plant to be used for small and medium-sized orebodies or for pilot investigations of deposits directly at the mine site e •The first Caravan Mill installation was put into operation in 1970 and a number of plants have been delivered world-wide since then.The Caravan Mill system has great flexibility both in capacity, ranging from 50 to 1000 tons per day, and in process combinations. The process modules available are:• crushing by jaw and cone crushers;• pre-concentration by the Dyna Whirl Pool dense media system;• grinding by wet rod or ball mills;• separation by gravity, magnetic, flotation or leaching-CVP adsorption methods;• dewatering by lamella or conventional thickeners and vacuum filters.To form complete plants, auxiliary equipment is also available, such as:• bins, feeders and conveying systems;• power generator units;• water tank and pump for process water;• interconnecting piping and cables;• erection and service tool kits;• set of spare and wear parts.For mine sites with rainy or winter conditions, a plastic tent with air heater can be supplied to cover the ore dressing equipment. Each module is workshop assembled complete with slurry pumps, internal pipe work, electric wiring with plug-in connections, hoses, etc., all arranged for quick and simple connection between the units. Before delivery, each unit is tested in the workshop."

Jan 1, 1982

By Yuki Tsunazawa, Sho Fukui, Chiharu Tokoro

"A milling process is one of the important unit processes in mineral processing. In the milling process, the control of particle size distribution is necessary for the later physical separation process. Since the milling process is strongly affected by the equipment designs, operation conditions and raw materials, the control for particle size distribution of milling products is mainly based on empirical rules. Recently, the discrete element method (DEM) has been widely used as an effective tool to investigate the behavior of grinding media. Although the behavior of grinding media can be accurately simulated, it is not well-established the way to predict particle size distribution after milling by the DEM simulation.The objective of this study was to develop a new method to predict particle size distribution in ball milling using the DEM simulation. To predict particle size reduction, a correlation between experiments and the simulation was investigated in various operation conditions, that is, wide range of the rotation speed and the filling ratio of grinding media. In experiments, after lime stone was ground, the average and variance of particle size distribution were evaluated using some kinds of distribution equations. In the DEM simulation, direct simulation of particle disintegration in milling process is generally very difficult because of huge computational load. Therefore, collision energy between grinding media balls orgrinding media ball and wall was used as a factor of particle disintegration.As a result, a good correlation between experiments and simulation was obtained. In addition, the particle size distribution in ball milling could be predicted using this correlation. Therefore, these results indicated that the use of the correlation between experiments and the DEM simulation was an effective approach of predicting the particle size distribution in milling process."

Jan 1, 2016

By L. Voisin, K. Mühlenbrock

A new pyrometallurgical process is proposed for cleaning complex copper matte and for recovering copper from copper scrap containing lead. In the process, a given amount of pig iron is added to the complex material under a reducing condition to produce two or three liquid phases at the equilibrium, depending on the content of sulfur in system, of copper-rich and iron-rich alloys, and matte, respectively. The novel process is proposed based on the experimental results obtained by performing laboratory scale tests in an electrical furnace at 1473 K followed by a quenching method on the final stage. The samples obtained from the experiments were analyzed by using Atomic Absorption Spectroscopy (AAS), Inductively Couple Plasma (ICP) and Carbon Infrared Spectrometry (CIS) techniques. The results were discussed on the basis of the distribution of lead as impurity in the miscibility gap where equilibrated phases coexist. According to the mass balance calculations, the elimination of lead into the iron-rich alloy phase as a harmless and smaller deposit might be feasible and the process proposed for cleaning the complex matte would be promising.

Jan 1, 2014

By William H. White

"AbstractThe value of anomalous metal contents of trees as an aid to the discovery of mineral deposits was tested under field conditions cm four known ore deposits. Results indicate that a base-metal deposit, or any deposit containing zinc or copper, casts a 'metal shadow' into the overlying soil which remains approximately positioned above the deposit, regardless of the type of overburden or the movement of groundwater.The unusually high content of zinc or copper in trees growing within the limits of this 'metal shadow' constitutes an anomaly which can be detected and ,plotted in the field The field kit and certain points of the field technique are described briefly; and the characteristics of plant anomalies and possible limitations of their use are mentioned.IntroductionRecent investigations concerning the metal content of trees indicate not only wide variations in the metal content of different species and in different parts of the same tree but, in addition, suggest that the metal content of a tree is related to that of the subjacent bed-rock. Abnormal values found by Warren, Delavault, and others in trees growing above or near orebodies suggest a new tool which may prove of considerable value in exploration work. Evaluation of this new tool must involve consideration of the following questions:(I) Is the technique one which can be used under field conditions by persons not specially trained; and can results be duplicated within reasonable limits of error? Rather than taking tree samples for subsequent laboratory analysis, it is highly desirable that analyses be made on the spot. This allows anomalous results to be checked and additional samples may be taken at key points."

Jan 1, 1950

By Y. Mercadier, M. Ait-Ali, M. Dostie

"This paper presents the results of an analytical study to assist in the design of blast furnace tuyeres, including a prediction of the heat transfer process.IntroductionA blast furnace tuyere must be made of a material which must con serve its geometric and structural integrity in the environment of the fire-ball of the furnace. It must be cooled by a fluid forced through its internal cavities in such way as to keep its maximum temperature below the allowable limit. The prediction of the convective heat transfer coefficient inside the tuyere is of great importance in the design of new tuyeres with increased service life. We have developed a computer program which can predict the convective heat transfer coefficient for two-phase flow. This paper shows how the program work s and how it can be used for the numerical simulation of tuyeres.To simulate the h eat transfer conditions in water-cooled tuyeres, one has to predict:a) The heat flux (radiation and convection) generated by the combustion gases. This was evaluated using the single-zone gas-furnace model. This model yields results which are of the right order of magnitude. A more fundamental study of radiation heat transfer based on combustion and gas concentration s will be reported in a future publication.b) The local convective heat transfer coefficient at all points with in the tuyere.Prediction of the Convective Heat Transfer CoefficientTo calculate the convective heat transfer coefficient for refrigerant stream, semi-empirical correlations developed by the nuclear industry were adopted. These correlations permit us to analyze the entire range of the convective boiling range, as shown in Table 1. Our first attempt, with a single-phase flow correlation, has shown the need to take nucleate boiling into account."

Jan 1, 1982

By Pierre Beaudoin, Michel Bourassa, Robert Lanthier, Samir Chéfaï

"Mine Doyon, in collaboration with CRM's Process Control Division, improved the control strategy at the SAG mill I Ball mill grinding circuit. The project aimed at increasing operation stability and throughput. First, a needs analysis was achieved in order to define the control philosophy and to upgrade the process control equipments and instrumentation. The stabilizing control strategy has been developed and implemented successfully using single loop PID controllers. The monitoring feature as well as the rule based supervisory control strategy were implemented on 486PCs running Process Vision and COMDALE/C softwares. Main features of the control strategy are described in this paper while results are presented and discussed.RésuméLa Mine Doyon, en collaboration avec le service de contrôle des procédés du CRM, a optimisé la stratégie de contrôle au circuit de broyage. Les objectifs du projet étaient !'amélioration de la stabilité de !'ensemble de !'opération et la maximisation du tonnage usiné. Une analyse de besoins a été réalisée pour concevoir la philosophie de contrôle et déterminer les ajouts a apporter a I 'instrumentation et au systeme de contrôle. Une stratégie de contrôle à deux niveaux, integrant stabilisation et supervision, a été developpee et mise en opération. La regulation est réalisee par une combinaison de contrôleurs Moore de type PID. Le monitoring et la stratégie de contrôle a base de règles soot implantés sur des micro-ordinateurs de type PC/486 avec les logiciels ProcessVision et Comdale/C. Les principaux aspects de Ia stratégie de contrôle sont décrits dans cet article et les résultats obtenus soot présentés et discutés."

Jan 1, 1995

By A. C. Bonnier

"INTRODUCTIONI have been asked to make available our method of determining the ""Live Inventory"" within a gravity type thickener. The ""Live Inventory"" being that tonnage compatible with the optimum underflow density that satisfies the process requirements.One prerequisite of the calculations is the proper determination of the final pumpable underflow density. A further requirement is that, prior to shutdown, the thickener has been operated properly, particularly that it has not been operated for storage capacity.Until recently I had few chances to check the method. However, I was most fortunate to have had a recent opportunity covering several months on a 300 ft diameter thickener at a plant in the U.S.A., wherein the method was tested and verified many times. The method proved accurate in that our calculated tonnage checked with the actual dried physical inventory of the drying facility.At the precise moment that the feed to the thickener was shut down, a per cent solid determination was made at the critical place and the tonnage in ""Live Inventory"" determined. Let us say that at the moment the thickener U' Flow solids was 20%. The thickener then was allowed to cperate until the U' Flow solids dropped below 20%, at which time the thickener was deemed to be relieved. Anything much less than 20% was not suitable to the subsequent centrifuge operation.Most large metallurgical thickeners have a configuration of three slopes at the thickener ""bed"". These slopes are dictated by the raking blades and are shown on the manufacturers' erection drawings. The first slope is from the outer periphery and generally takes up a distance of about 60% of the radius, the second slope generally taking up the remaining 40%. Within this 40% area, there is usually another slope taken up by the cone on ""B"" type thickeners or an actual steeper inner slope on ""C"" type thickeners."

Jan 1, 1989

By Robert B. Parsons

"Recent amendments to the so-called ""flow-through share"" rules in our income tax legislation have given a new lease on life to this once popular investment vehicle.The original ""Dome funds"" for exploration in the Beaufort sea recognized the usefulness of flow-through share arrangements, but, by and large, flow-through shares have until recently not been able to compete effectively with other tax shelter instruments-mainly , limited partnership interests.This month, Tax Notes examines the new tax rules for investing in flow-through shares.IntroductionRecent income tax amendments have helped to rekindle investor and industry interest in so-called ""flow-through shares"" as a mechanism for mobilizing funds toward mineral exploration and development activities. In competing for investment funds, flow-through shares have historically placed a distant second in terms of investor popularity, being unable to compete with the more attractive features of limited partnership arrangements. However, primarily as a result of favourable changes to the income tax law, flow-through shares may be well poised for a comeback.This article examines the income tax considerations pertaining to issuing and investing in flow-through shares, and compares the former and the new income tax rules relating thereto. Of course, inasmuch as a flow-through share issue can involve various contractual arrangements between the investor and the issuer, there is a wide range of legal and business factors that generally have to be taken into account. A discussion of these matter s is beyond the scope of this paper, which is restricted to a summary of the special income tax factors attributable to flow-through shares."

Jan 1, 1983

By B. M. Das, D. B. Cross

"In June 1983, the Computer Applications and Process Control Committee (CAPC) of the Canadian Institute of Mining and Metallurgy (CIM) circulated a questionnaire to coal mining, exploration and consulting companies in Canada to determine the industry's level of interest in holding a workshop-style meeting to introduce company personnel to ""state-of-the-art "" computer systems designed to carry out specific technical and management junctions. It was necessary to conduct the survey to determine the specific fields of application and the nature of training which are of most interest.Almost universally, the companies expressed interest in computer workshops and training for applications in the Canadian coal industry. The survey showed that all categories of personnel felt the need for some sort of training. Areas of specific interest identified were: exploration and geology, mine design, reserve calculations, coal mining technology, coal preparation, rock mechanics, ventilation, financial planning, and process simulation. The details of this survey together with an assessment of the significance of computer applications in the Canadian coal industry are presented in this paper."

Jan 1, 1986

By Gordon Sparks, Lyle Kajner

"An often over-looked component in the assessed value of a mining property is the value derived from the ability of the operator to limit financial losses during adverse economic times (i.e. low market price, high energy prices, etc.) by suspending operations. Overlooking the value of this type of operating flexibility when conducting mine investment analysis may negatively bias the risk profile for the investment by over estimating the investment's downside potential, thereby effectively undervaluing the investment. This paper illustrates the nature of the value of operating flexibility and discusses how it may be explicitly quantified within the context of conducting stochastic mine investment analysis. IntroductionMining properties are evaluated using an array of techniques ranging from simplistic non-discounted payback calculation s to sophisticated, discounted-stochastic simulation. Stochastic simulation analysis is perhaps the most robust mine investment analysis technique as it not only provides an estimate of the expected value of the property, but also quantifies the associated risks (for examples of stochastic mine investment analysis, see: Billingsley and Yaychuk, 1986; Gentry and O'Neil, 1984; Munro, 1977; or Harris, 1970).The quantification of risk is important as it provides the necessary yardstick required to allocate the corporation's resources efficiently. Resources are said to be allocated efficiently when the corporation's expected long-term financial reward is maximized while at the same time minimizing its risk (see Hertz, 1968; or Markowitz, 1952 for in depth discussions on efficiency as it relates to investment policy). The efficient allocation of resources should be the objective of any rational corporation. Therefore, rational corporations should employ stochastic evaluation techniques when screening their investments."

Jan 1, 1992

By T. Negeri, M. Boisclair

"A hybrid process consisting of flotation and magnetic separation has been developed to concentrate multi-phase rare earth minerals associated with a carbonatite ore that contains a significant amount of niobium. Fine grinding to a d80 of <65 microns was required to obtain acceptable separation of 92% of the contained total rare earth oxide (TREO) and niobium in half the feed mass. Whereas it was possible to obtain 85% of TREO in 28% of the feed mass through staged cleaning, it was demonstrated that at least 87% and 85% recoveries of TREO and Nb respectively could be achieved in 16% of the feed if the rougher-scavenger concentrates were calcined, quenched, reground to <25 µm and then magnetically upgraded. The paper discusses the overall concept of the flowsheet and the experimental strategies that led to this progress. INTRODUCTIONOut of the approximately 250 minerals known to contain rare earth elements (REEs), only about 60 of them contain REEs in significant amounts. Over 95% of the world’s rare earth oxides (REOs) are believed to occur in the form of three minerals (Pradip & Fuerstenau, 1991) namely bastnaesite (Ce,La,Y)CO3F, monazite (Ce,La,Nd,Th)PO4 and xenotime Y(PO)4. An estimated 51.4% of global REO resources are hosted by carbonatite deposits with the same three minerals as major constituents (Weng et. al., 2015). Any one of the REEs or commonly all of them can be found in these minerals (Ravnaas, 2010). As the demand for critical REEs increases due to the ever increasing applications in advanced technologies, many deposits containing other forms of REE minerals will have to be developed. REE minerals are extensively dispersed and intergrown with several oxides, silicates, carbonates, and phosphate minerals. Consequently it is possible to liberate them only at fine grinding and is thus difficult to separate and produce high grade rare earth mineral concentrates. Most of these minerals contain other important elements such as tantalum (Ta), niobium (Nb), uranium (U), and thorium (Th) in varied quantities. REE minerals in the same ore may exist as carbonates, fluorocarbonates, niobates, silicates, phosphates etc. in association with gangue minerals belonging to different mineralogical groups."

Jan 1, 2016

By T. Schmidt, H. Assadi, F. Gartner, H. Kreye

Among all spraying processes, cold spraying has attracted a special attention in recent years, both as a coating - and more recently - as a rapid manufacturing technique. The interest in this process is mainly because of the fact that the deposition of spray material takes place at moderately low temperatures, and thus, oxidation and unfavourable microstructural changes can be alleviated. In this process, a highly compressed gas, flowing through a de Laval nozzle, accelerates the particles of the spray powder to high velocities of up to 1200 m/s. Although there is no melting of particles prior to impact on the substrate, cold-sprayed deposits can be denser and more tightly bonded as compared to the equivalent deposits produced by conventional thermal spraying methods. The present contribution focuses on this unique aspect of cold spraying. Modelling of particle impact, combined with various experimental observations, is employed to illustrate that bonding of particles and hence material deposition occurs through shear instability - associated with severe plastic deformation and localized heat generation - at the interacting surfaces of particles and substrate. The results of modelling also provide an insight to the influence of material and process parameters on the critical velocity and on the microstructural properties of cold-sprayed deposits.

Jan 1, 2006

By M. J. Nicol, C. van Wensveen

The kinetics of the oxidation of thiosulfate by copper(I I) in ammoniacal solutions have been studied in the presence and absence of dissolved oxygen. The formation of an intermediate mixed ammine/thiosulfate copper(II) complex ion has been confirmed and the rate of the reaction monitored by simultaneous on-line spectrophotometric, dissolved oxygen and potentiometric measurements. The rate of the anaerobic oxidation of thiosulfate by copper(II) was found to be orders of magnitude slower than that in the presence of dissolved oxygen and is inhibited in the presence of ammonia and anions such as sulfate and chloride as a result of competition with thiosulfate for the axial coordination sites on the copper(II) tetrammine complex. In the presence of dissolved oxygen, it was found that the copper(I) thiosulfate complexes are only very slowly oxidized while the copper(I) diammine complex is rapidly reoxidised to the copper(II) state. Thus, the initial rapid reaction with copper(II) leads to a pseudo steady-state condition in which the concentration of copper(I) is relatively constant and the rate of oxidation of thiosulfate can be predicted from the measured rate of oxidation of copper(I) by oxygen in ammoniacal solutions. The effects of the concentrations of ammonia and thiosulfate on the oxidation rate can be rationalized on the basis of the above coupled to the species distribution of copper(I) in the ammonia/thiosulfate system. It is shown that, with relatively simple measurements of dissolved oxygen and copper concentrations, the rate of oxidation of thiosulfate can be predicted under typical leaching conditions.

Jan 1, 2005

By John A. Allan

The subject chosen for this paper is not a new one, but the subject matter is so extensive that something new can always be said .about it. We are just beginning to realize how little is actually known about the character of Alberta coal, except for a few general facts. The object of this paper is not to explain that our previous information, in whole or in part, on the coal resources of Alberta, has been incorrect, but rather to present some new facts obtained as a result of recent study in the field and in the laboratory. As field investigation continues the problem of determining the character of a coal seam for any great distance laterally becomes more and more complex. Our present knowledge of Alberta coal deposits should not be discussed before due reference is made to those great pioneers who blazed the trails for later geologists, by recording their observations on the general geology of Alberta. Geologists, to-day, particularly those of us who are striving, year after year, to unravel the mysteries of stratigraphy, palaeontology, and structure, in so far as these are related to the coal resources of Alberta, fully realize our indebtedness to those three trail-makers, Dawson, McConnell, and Tyrrell. Had these geologists not recorded their observations correctly, nor interpreted the broad geological facts contained in Nature&apos;s book, with still uncut pages, how much slower would have been the progress of our coal knowledge in the succeeding years. It is true that many of the interpretations given to observations by these pioneers have had to be changed as a result of closer studies, but we must also expect that the geological interpretation from present day observations will be changed by future workers, as Nature&apos;s book is read and re-read.

Jan 1, 1925

By D. Saramak, Z. Naziemiec

"Chalcedonite is an unique rock due to the relatively small area of its occurrence. It also possesses multi-raw-material features therefore it should be given a special protection aiming at its complete and optimal utilization. It is the natural sedimentary rock and the only mine in Poland, located in Inowlodz, where the opencast mining from “Teofilow” deposit is carried out.Chalcedonite mainly consists of cryptocrystalline and microcrystalline chalcedony together with small amounts of autogenous and detrital quartz. The chalcedony itself is a fairy common mineral and many forms of its occurrence is known, some of them are semi-precious minerals. Among the most popular ones following can be found: agate, bloodstone, onyx, carnelian, chrysoprase. Many countries own chalcedony deposits: Australia, Brazil, India, Canada, Namibia Russia, South Africa. However chalcedony in its pure form does not occur in the mentioned chalcedonite rock. The pores, which take usually from 5% to 25% of volume and have sizes smaller than 0.5 mm, are the characteristic feature of all chalcedonite forms. The paper presents some crucial problems of its processing together with most significant directions of its applications. New method of chalcedonite enrichment based on densimetric separation (patented in Poland) is presented. Results of investigation show that the obtained products can increase quality of concrete and filter grits."

Jan 1, 2016

By Claude Gosselin

En 1995, la Compagnie minière Québec Cartier a mis de l&apos;avant un projet de recherche sur la modélisation de l&apos;écoulement des gaz pour ses fours de frittage à l&apos;usine de bouletage de Port-Cartier. Cette démarche s&apos;inscrivait dans un large processus de collaboration avec l&apos;Université Laval et le Consortium de Recherche Minérale (COREM). L&apos;usine de bouletage possède deux fours de frittage d&apos;une capacité moyenne de 600 tonnes/heure pour chacun des fours. Les fours de frittage sont des systèmes complexes d&apos;échange de chaleur qui fonctionnent à contre-courant (le débit de boulettes versus les débits de gaz). Pour rencontrer les spécifications reliées aux propriétés mécaniques des boulettes, le processus de fabrication requiert des mesures et un contrôle des systèmes très précis. L&apos;information fournie par plus de 70 capteurs (pression, température, puissance, vitesse, hauteur de lit, position de volet....) est utilisée pour manipuler une vitesse de grille, cinq ventilateurs et neuf zones de brûleurs. Malheureusement, les variables qui influencent fortement les mécanismes de frittage, c&apos;est-à-dire les débits de gaz dans les différentes zones du four ainsi que la masse de boulettes qui circulent ne sont pas mesurées. Une méthode est donc proposée pour une estimation en ligne de ces variables. La méthode est basée sur un arrangement de 65 équations reliant pressions, températures et débits de gaz dans les conduites, les ventilateurs, les sections du lit et les fuites (Gosselin, 1998). Pour des raisons de simplification de cet article, seul un sous-système du four sera présenté. Les techniques de réconciliation des données reliées à la conservation de la matière et de l&apos;énergie montrent que la mesure en ligne du débit de boulettes mène à l&apos;estimation des débits de gaz et apporte des avantages intéressants pour le contrôle des variables stratégiques des fours.

May 1, 2001

By Shantanu Patel, C. Derek Martin

"The objective of this work is to develop a practical numerical approach for applying the confining pressure to discrete element cylindrical triaxial tests. A layer of membrane particles with very low stiffness and extremely high contact bond strength was created around the lateral boundary of the cylindrical numerical specimen. To prevent the membrane particles from penetrating into the rock specimen on application of confining forces and to provide a smooth boundary surface, the space between the membrane and rock particles was filled using small-diameter packing particles. The results of this method were compared with those of rigid boundary method with confining pressure of 20MPa. The results obtained show that new approach gives both peak strength and post peak response that are in closer agreement with laboratory findings. BACKGROUNDThe discrete element method (DEM) has become the cornerstone for simulating both intact material and discrete fractures for low porosity strong rocks (ISRM Classes R3 to R6). Despite the advances in its application, simulating realistic behaviour of intact rock using the DEM remains a challenge. The bonded particle model was introduced as a potential solution for simulating the complex mineral grains in strong rock and other granular materials (Potyondy and Cundall, 2004; Utili and Nova, 2008; Salot et al., 2009). While some issues were resolved, a remaining challenge is the lack of the bonded particle model to simulate the brittle response commonly observed in strong rocks during the triaxial compressive test. Such behaviour is shown in Fig. 1 for Lac du Bonnet Granite at a confining pressure of 20MPa."

Jan 1, 2015

By R. C. Bryce

"Accident prevention has been an on-going priorty for five years. In 1987, adherence to the ILCI five-star rating loss control program was started, and a first star was awarded. Extensive training programs have been undertaken to establish standard procedures and upgrade employee skills. Due to its location, Selbaie owns and rents housing in the town of Joutel and contracts a busing service to and from the mine. Employees from other areas are lodged in dormitories and fed in the site dining room. Accounting and warehousing services are carried out in efficient fashion. Employee relations are structured to provide prompt resolution of complaints and differences. No lost time due to industrial relations differences has been encountered during the history of the mine.Safety and Loss ControlAll mines are concerned and occupied with a wide range of activities to ensure the safety of its employees. Selbaie is no exception. Programs to achieve success in safety and loss control have been implanted since the start of construction and development at Selbaie and have followed three interesting stages of evolution."

Jan 1, 1990

By Jinsuo Zhang

Investment in coal resource development is affected by a variety of uncertain factors. Investors can make a flexible, strategic decision to achieve the value of risk implicated in those uncertain factors. Therefore, based on real-option theory, we identified key uncertain factors that affect a coal resource investment project, and revealed the formation mechanism of option value in coal resource developing investment project. Then, a multi-factor decision making model was established for a coal resource development investment project with random changes of coal price, interest rate, convenience yield and production cost. Finally, we tested the model and analyzed relevant parameters by applying living data. Our results indicate this model reflects the value of risk implicated in uncertain factors for coal resource development investment, and is able to determine a critical point of decision making change when coal price and production cost varym respectively. By means of parameters analysis, the convenience yield has a positive effect on the project value. The interest rate has a negative effect.

Aug 1, 2013