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By Stanley Dempsey

INTRODUCTION The mining industry has been under- going a significant restructuring for the past several years. Some firms have been liquidated. Some have been merged with other firms. A number of mining divisions of larger firms have been spun off, in some cases in leveraged buyouts by management. Recently, there have been a number of spin outs of gold subsidiaries. There are also a number of start-up situations where new firms are emerging as significant gold producers through mine development or acquisition. This restructuring has created an attractive market for specialized mining finance firms, and a number of firms have recently entered that field in the United States. These firms provide financial advisory and valuation services to mining firms and project developers, and access to venture capital. In some cases, they invest for clients or for their own account. I have been asked to describe how our firm works, and what kind of information we expect to receive when mine developers seek our assistance in financing a project. HOW WE OPERATE Denver Mining Finance works for both mine developers and investors. We also provide expert advice on mining issues to governments and to firms who are in litigation over mining issues. A lot of our work involves valuing mineral interests for various purposes. Our principal expertise is in the technical, commercial, and financial area. We help put mining deals into shape commercially so that they can be financed, and we help investors get into mining deals that are commercially sound. We work on projects, but we also advise mining firms on the structure of their business and how to make the most out of one or several mines that they might own. In addition to our work for clients, we are also prepared to invest in mining projects for our own account, and to recommend gold properties for acquisition by our parent company, Royal Gold, Inc. We are, to some extent, a venture capital firm, in that we sometimes work with projects that are not "bankablerV1 and are prepared to invest in attractive early-stage situations in mining. However, I want to emphasize that our principal focus is on development of commercially attractive mining projects that can be brought into production in the best possible financial terms. If we can make a project qualify for a project loan from a commercial bank, we will not advise the developer to use high cost venture capital. For the purpose of this paper, I will focus primarily upon our functions with respect to development of precious metal projects. In a typical case, a firm with an advanced-staged project approaches us for help with financing the final feasibility study, and construction and operation of a mine. In some cases, the developer has already developed a financing plan and wants only our access to investors. If we agree that the project is sound and that the financing scheme will be attractive to investors, we will help the developer reach investors on a commission basis. In such cases, we are particularly insistent that the financing plan and our participation meet all regulatory requirements, particularly compliance with state and federal securities laws. In most cases, however, the developer asks us for advise both on how to structure the financing, and how it can be implemented. Here we work for fees based on hourly rates for advisory work,

Jan 1, 1987

By Edward M. Downs

This paper is a brief review of the lubrication requirements of enclosed gearing on earth moving equipment, particularly as they apply to intermediate and large draglines and shovels used in open pit mining operations. It discusses the requirements of spur, helical and herringbone gearing in both horizontal and vertically mounted applications. The effects of base stock, oil viscosity, additive treatment, quantity of oil and method of application are considered. In addition, a newly designed circulating oil system for enclosed swing gear cases and the reasons for its development are discussed.

Jan 1, 1968

By Stephen G. Tough, Ted M. Noskiewicz

INTRODUCTION For many years, in Europe and in North America, pre-formed metallic and concrete segmental linings in tunnels have been used extensively as temporary and permanent ground support systems. In the United Kingdom the use of cast iron as a means of ground support in mining shafts dates from the first decade of the 19th century. Although at that time wood tubbing was extensively employed, cast iron was used in shafts at Wallsend and Percy Main collieries in the North East of England. The original form of cast iron tubbing consisted of cylinders which were lowered bodily into the pit and were built from the bottom up, but subsequently they were subdivided into segments which involved the making of vertical as well as horizontal joints. Principally, the practice of providing immediate pre-formed support developed because of the incompetent state of the surrounding ground and, although this still remains the over-riding consideration nowadays, several other factors are examined before finally deciding what type of lining to use. Other branches of sub-terranean technology such as tunnel thrusting or immersed tubes (both of which involve pre-formed linings) can provide alternative solutions to problems hitherto thought better solved by bored tunnelling methods. However, this paper will confine itself to those linings developed for the more traditional tunnelling methods. Usually the shape of segmentally lined tunnels is circular because this profile is the most suitable for bad ground and many tunnelling machines. This does not always lead to the most economic use of space within the tunnel and horseshoe or elliptical linings are sometimes used in suitable ground. The number of segments

Jan 1, 1974

By E. A. Rychkun

Mining and environmental objectives have traditionally been in conflict. This conflict reflects a delicate balance between the need to spend money to protect the environment, and the need to save money by extracting minerals efficiently. In an increasing number of cases, profit margins diminish rapidly with new environmental regulations and reactionary measures. Forced cleanups and increasing restrictions are unwelcome expensive processes. A practical solution lies in planning rather than reacting. This requires the ability to precisely quantify and qualify environmentally sensitive problems by providing effective engineering tools to model, visualize and analyze subsurface conditions. Prevention of environmental conflicts, and effective cost control are both rooted in the mining company's ability to construct accurate models, monitor changes, assess contamination risks and to design effective remediation plan. This paper presents a case study where these issues are addresses through the application of a new and innovative technology.

Jan 1, 1993

By Alastair R. Biggart

ABOUT BENTONITE TUNNELLING Much has been written and many learned papers given on this subject whose generic term is Slurry Tunnelling. This paper is about the particular form of slurry tunnelling known as the Bentonite Tunnelling System. This method. of tunnelling was invented by J.V. Bartlett of consulting engineers, Mott Hay and Anderson in 1964. The general principles are incorporated in British Patent No. 1083322. It was not until the early 1970's that serious experimental work was started to prove the technical feasibility of the process. In the U.K. in 1971 Edmund Nuttall Limited started on an experimental length of 3.8m diameter tunnel at New Cross in London. In Germany at about the same time Wayss and Freytag were starting on a 3.7m diameter collector sewer tunnel in Hamburg. In Japan early slurry tunnelling work was carried out in the 1960's. In the early 1970's a large number of slurry tunnels of various diameters were carried out in that country. This paper is being presented at a time when this system of tunnelling has become an accepted method throughout the developed world. As a result of the work carried out so far there is now a large amount of data existing regarding the effects on the ground in the immediate area of the tunnel, settlement at the surface and the ability of the system to cope with ground varying from clays to coarse gravels and containing large erratics such as granite boulders. The decade of the 1970's has therefore seen a very rapid pace

Jan 1, 1979

By J. J. Carlson

Studies were carried out to determine whether filtration rate changes observed in an iron ore concentrator were due to variations in particle shape. It was confirmed that ores mined from different locations differed in filtration rates by as much as 60%. However, when image analysis was used to quantify the shapes of the individual particles in the filtration feed, it was found that the particle shapes showed almost no variation, and the shapes did not correlate with the filtration rate. It was also determined that the filtration rate variations were not caused by changes in particle size distribution. These results suggest that the differences in filtration rate are due to factors other than size and shape, such as surface chemistry.

Jan 1, 2008

By Patrick Ph. D. Kennedy, Osvaldo A. Ph. D. Bascur

With the revolutionary progress in information and computer technologies, applying the latest information technologies in metallurgical complexes has become a serious challenge to both a major opportunity and a serious challenge to both management and technical teams. The emerging component and object technologies are changing the way everyone can beneficially use their computer and networks to add to their corporate bottom lines. Most mining and metallurgical plants use predictive maintenance policies based on statistical analysis and special techniques, like vibration analysis and oil and lube analysis for critical equipment. Process control strategies are installed in several metallurgical sites. All process equipment and control strategies require maintenance from local personnel at the mine. Integrated use of existing and emerging technologies is making it possible to implement an overall process effectiveness control index. This index is based on key indices such as losses due to plant availability, performance efficiency and rate of quality. The availability of real time and process history to identify the most critical part of the processing system from mechanical integrity is highlighted. An emerging plant integration paradigm is described to simplify the implementation of business enterprise resources management and distributed plant management systems.

Jan 1, 1998

The Waste Isolation Pilot Plant (WIPP) is a geologic repository for disposal of transuranic waste and is operated by the US Department of Energy. The repository is located at a depth of 655 min the Permian age salt beds of the Salado Formation. The exhaust air from the facility is independently monitored by the Environmental Evaluation Group to verify compliance with regulatory release limits for radioactive materials. A May 1995 video inspection of the exhaust shaft identified fluid migration into the uppermost 25 m of the shaft. Since then, water has been observed flowing in from cracks in the shaft lining between 16and 25 m below surface level at an estimated rate of between 5 and15 m3/d. This water inflow has not only negatively impacted the equipment in the shaft, associated duct-work and monitoring equipment located at the top of the shaft, but also challenged efforts to verify compliance at the WIPP. This paper provides an analysis of these effects.

Jan 1, 2004

By Clark Woodland, William E. Stanley

Mining companies have been required to enter a "new era of management" in the 1980's as they strive to become more efficient in an increasingly competitive market place. One response for many companies has been to modify their mine accounting systems to make them more effective for cost control and decision-making. This paper discusses some of the major issues in developing and implementing a standard costing system as part of improved management reporting and cost control procedures. It describes the key features and benefits of a computerized standard costing system with particular emphasis on budget-setting and variance analysis. It also identifies important factors to be considered in order to achieve successful project planning and Implementation.

Jan 1, 1987

By Sarah Vest, Richard Sherman, Leo Martin

In 1988 a major exploration program was undertaken to determine the characteristics of the rock and soil for a 7.6 m diameter sea outfall tunnel beneath Boston Harbor out into Massachusetts Bay. The diffuser discharge location had been mandated by the EPA to a 10 sq. km area of seafloor connected to the proposed Deer Island Treatment Facility by a 14.5 km tunnel corridor. Geophysical surveys, deep rock borings, and laboratory testing, provided the information for the conceptual design. The program identified the range in material types and parameters to prove feasibility of a TBM driven tunnel and to locate the optimum alignment and depth.

Jan 1, 1991

By Robert F. Droullard

The U. S. Bureau of Mines (USBM) has investigated instrumentation and methods for measuring exposure to radon daughters in underground mine atmospheres. Both personal and area monitors have been studied through in-house and contract research. A field study in uranium mines identified some reliability problems that required additional work for the personal dosimeter systems. Improved versions of continuous working level detectors have been developed and tested for use as area monitors in underground mines. Test results for the personal and area monitors were satisfactory for underground mine applications.

Jan 1, 1981

The choice between EPB - and Slurry Shields is influenced by the following factors: grain size distribution, cohesiveness, occurence of boulders, occurence of gas, feasibility of soil separation and muck disposal, and settlement properties of the soil. The simple equation cohesive soils = EPB Shields and non cohesive soils = Slurry Shield is very often superimposed by other facts. For example, the occurence of a large amount of boulders in weak cohesive soils, where the application of roller discs is not recommendable, may lead to the use of a Slurry Shield with a rock crusher, thus accepting the disadvantage of a sophisticated separation plant; whereas the occurence of contaminated groundwater or gas may exclude the use of a Slurry Shield. In the following examples the choice of a Slurry Shield or EPBS will be explained and justified with regard of the above factors.

Jan 1, 1995

By Terry Owen

Business development process. Throughout Cyprus Amax's early months in Russia, the company stayed focused on what was needed from a deposit for economic success. Cyprus Amax's reason for success in Russia is that all involved - its Russian partners, the workforce and expatriates - provided a focused effort that served the project as it worked through the tender process and the Russian regulations. The company developed an understanding of the regulatory process by working with solid, ethical partners. Infused into the Kubaka management structure were Russians with the knowledge to facilitate the process and a professional group of expatriates. Developing credibility and a solid rapport with the Russian mining authority was critical to the success of this venture. Identifying and gaining the trust of key Russian individuals was also critical during the early stages. Gaining their trust and building credibility was part of the process. These key Russians were brought to the United States to visit existing Cyprus Amax mines. These efforts proved valuable in building an understanding with the Russians about the kind of company Cyprus Amax is and the kind of efficient operations that it can run. This was a learning process for all parties. Fortunately, the company was dealing with intelligent and educated people.

Jan 1, 1997

By B. Petri, N. Rouse

"Air overpressure monitoring procedures and instrumentation guidelines which apply to production blasting in underground limestone mining are not readily available. The industry also lacks an applicable source for air overpressure levels that are produced by blasting operations in underground limestone mines. As such, there was no available background data from which the expected overpressure levels from production blasting in a new underground limestone mine could be predicted. During the development phase of the mine, it was imperative that newly constructed underground structures be capable of withstanding the overpressure produced by blasting in nearby production headings. To ensure the structures could withstand the blast-induced overpressure, a study was conducted to record empirical overpressure data and develop a model which could be used to control air overpressure levels by the production crews. This document describes the procedures used to develop the model, the development of the model, and the applicability of the model for predicting underground blast overpressures. INTRODUCTION A developing underground limestone mining operation required that a ventilation wall be built to house the permanent mine fans. At the time of the study, the mine was a single-level room and pillar operation with a 7.9 meter (26 ft) high roof, 13.7 meter (45 ft) wide entries, and 13.7 meter by 13.7 meter (45 ft by 45 ft) pillar dimensions. The mine is accessed via a 396 meter (1300 ft) long decline and 100 meter (330 ft) deep ventilation shaft. The ventilation wall was to be partially constructed of autoclaved aerated concrete blocks, for which dynamic strength data from explosives loading were unavailable. The company ownership feared that airblast may affect the wall due to the close proximity of the working faces. Therefore, the company management asked that the overpressure levels be estimated and compared with the designed wall strength. Few studies that apply to explosively-driven air overpressure levels in underground production blasting were found through a literature review. Therefore, the logical approach to assess the overpressure levels was to monitor the blast pressures at the site and conduct a thorough evaluation of the data. As a result of this study, the equipment setup and monitoring procedure used to record the airblast data is described. Finally, the experimental data gathered during the monitoring program is presented, trends and findings from the data are discussed, and recommendations for further study are presented."

Jan 1, 2015

By Immo H. Redeker, O. E. Pothier, E. W. Gieseke

Phosphate rock is the primary source of phosphorus, an element necessary to all forms of life--plant, animal, and human. While phosphorus finds many uses in everyday life, it is an irreplaceable ingredient in all complete plant foods. With the present need for intensive farming, the fertility of the soil can be maintained only by external additions supplied by mines or other sources. A major consideration in any mining operation is to establish the economic and ecological impact of the development on the local population as well as the national interest. The Commodity Data Summaries, as published by the U.S. Bureau of Mines (USBM), is a ready reference concerning the importance of phosphate to the national and local interest. The summary of domestic and world pro¬duction is given in Table 1. During 19722 the demand for marketable phosphate rock exceeded the supply in the United States and the rest of the world. Domestic and world reserves are more than adequate to meet furture demands. Phosphate rock prices firmed and export prices increased, reflecting the change from oversupply to a shortage of phosphatic fertilizers. Demand is expected to exceed supply through 1973. New fertilizer plant capacity planned for 1973-74 will increase the production of phosphate rock by more than 5 million tons in the United States. Morocco and Spanish Sahara are scheduled to increase their production to 18 and 3 million tpy, respectively, within 2 to 3 years. The domestic phosphate rock production for 1972 was 40.8 million tons and 1973 was 42.1 million tons.' Industry, with government-supported programs, will emphasize restoration of mined land and solution of the colloidal slime disposal problem in Florida. The foregoing information comes by courtesy of The Division of Nonmetallic Minerals of the U.S. Bureau of Mines, January 1973. The summary gives a great deal of information but does not give a complete picture. There are many supporting industries which contrib¬ute to the area in which the mines are located. The figures shown in Table 1 deal with concentrates. To produce such concentrates many more tons of waste overburden and ore must be moved. Because of the competitive nature of the phosphate rock industry, data on concentration ratios not only are difficult to obtain but also are not for publication by companies. The concentration ratios vary from one mine to the next in Florida as well as in Tennessee and the western United States. To produce 42.4 million tons of phos¬phate rock in the United States required moving about 350 to 400 million tons of material. Domestic Industry. In 1972 some 26 firms and the Tennessee Valley Authority produced phosphate rock, with several firms produc¬ing from more than one mine. The distribution of marketable phos¬phate rock production was: Florida and North Carolina 82%; Idaho, Montana, Utah, and Wyoming 13%; and Missouri and Tennessee 5%. The value of this production was $223 million. The principal consuming classifications were: agriculture 75%, soaps and detergents 5%, plating and polishing 3%, animal feed supplements 4%, and miscellaneous applications 13%. Over 5,000 firms processed end-prod¬ucts for agricultural purposes. Uses of Phosphate Rock. The tendency in the United States has been to produce more phosphoric acid by the wet process, while the production of electric furnace phosphorus, triple superphosphate, and ordinary superphosphate has been on the decline. Exports of phosphate rock have been on the increase for several years and in 1971 reached 33% of total production. However, export sales of phos¬phate rock are expected to decline in the years ahead, both in total tons of sales and in percentage of production as domestic sales increase (see Table 2). The description and chemistry involved in the production of phos¬phate fertilizers is too complicated to be presented here. The Waggaman13 book is a very thorough reference on the subject involv¬ing production, utilization, and chemistry. The various operations generally have chemical plants near the dry plants or ship to associated chemical plants for further processing. Wet rock, dry rock, and ground dry rock of various grades are sold. In addition various grades of calcined phosphate rock, including defluorinated phosphate rock for animal food supplements, are pro¬duced. Various grades of phosphoric acid, superphosphate, triple suerphosphate, as well as diammonium phosphate, are produced. These products are available from the various producing compa¬nies listed in the text. For prices and specifications the producing companies should be contacted.

Jan 1, 1985

By G. M. L. Robinson

Mineral Processing Wastes, as defined by the Environmental Protection Agency (EPA), has determined that most of the mine wastes will be regulated pursuant to subtitle D (Solid Waste Regulations) of the Solid Waste Disposal Act while specific mine waste categories will be regulated within the framework of the Toxic Substance Control Act. Though EPA's determination currently relieves the industry of the regulatory constraints mandated by the Resource Conservation and Recovery Act (Hazardous Waste Regulations) Subtitle C regulatory framework; the industry is not granted immunity from historical or current environmental regulations related to listed or characteristically hazardous or solid wastes. Because of the current regulatory trends and the need to implement cost effective remediation alternatives; advanced currently available on-site remediation technologies are available to minimize, reduce, contain or prevent environmental impacts related to mining and processing activities. In light of industry technical needs, an overview of the research and commercially available remediation technologies will be discussed and a brief discussion of the strengths and weakness of each technology will be presented. Technologies to be discussed includes stabilization, solidification, soil wash, soil flush, thermal distillation, pump and treat, metal extraction, centrifuges, filter presses, bioremediation, and incineration.

Jan 1, 1992

By Drupad B. Desai, Alexander Rosenbaum

In recent years, there has been an increasing use of two-pass tunnel lining system consisting of segmental unbolted expandable precast concrete initial lining and cast-in¬place concrete final lining in the United States. Used so far in soft ground tunneling performed under free air, it often includes a waterproofing or gasproofing membrane placed between the initial and final linings. This paper describes the utilization of this two-pass system for an extension of the Baltimore Metro, constructed in part under compressed air. It offers a description of the extension project, known as Section C; addresses the tunnel lining selection process and the design of the lining elements; examines the effect of the adopted lining system and tunneling technique on the design of the project's major structural components; and describes design modification instructions in order to accommodate constantly changing field conditions.

Jan 1, 1993

By J. F. Strunk Jr., K. M. Maestas, Y. Chai, R. Legrand, R. L. Henry

"Groundwater with elevated sulfate and metals was treated using a sulfate-reducing pilot PRB consisting of a series of six 55-gallon drums filled with ZVI (Fe0), wood chips, brewer’s grain, limestone, and emulsified vegetable oil (EVO). Sulfate was reduced from >3000 to <250 mg/L and Cd, Cu, Mn, Ni, and Zn concentrations declined up to 3 orders of magnitude in 2 months. After 6 months of operation at a 7.5-day retention time, sulfate broke through. The system was then rejuvenated by injecting EVO in each drum and operated for 5 more months at a 9-day retention time. Sulfate-reducing bacteria in the pilot system grew by 3 to 4 orders of magnitude in 2 months. Some cementation of the PRB media was observed in the first 2 drums after processing 25 pore volumes of water, due to preferential upstream precipitation of sulfides; this can be avoided through operational modifications. Resulting permeability losses were estimated at 0.1% to 1% per year. Absorption/desorption was tested at bench scale to evaluate the use of various oil-soaked sorbents as a slow-release source of dissolved carbon. The tests show that oil sorbents can increase the useful life of a PRB between oil refills to over 100 pore volumes. INTRODUCTION High sulfate concentrations, low pH, and dissolved metal exceedances are common characteristics of mining-influenced water (MIW). Above-ground such MIW is commonly treated using biochemical reactors (BCR). In a BCR, water generally flows vertically downward through a layer of biomass, such as wood chips, manure, etc. The dissolved organics resulting from the decay of this material are oxidized first by microbes using oxygen; when oxygen is exhausted, other bacteria can use nitrate, and then sulfate to oxidize organics. Sulfate-reducing bacteria (SRB) reduce sulfate to sulfide, which quickly reacts with metals to form largely insoluble and stable metal sulfides. These reactions can be summarized as follows:"

Jan 1, 2016

By C. F. Giermak

Over a considerable period of time great interest has been shown in selective dry concentration of fine ferromagnetic particles, although it is only recently that new permanent magnetic materials have been made available to permit building of such permanent magnetic separators. It is well known that the conventional drum separator does&apos; not efficiently separate fine materials. The centrifugal force on any drum acts in accordance with the particle size and gravity, which may beat varying magnitude-.opposite to the magnetic force, especially when the material is not closely sized. The Magnetic-Mechanical Separator (MMS) is designed for the concentration of fine, unsized magnetic materials where the percentage composition of magnetics to nonmagnetics, or the nature and texture of the materials, is such that its unique agitation and shake-out action with no centrifugal force provides greater efficiency than is obtainable by conventional magnetic separation equipment. This machine consists of a complete double belt conveyor unit with a premagnetizing Axial Pole Agitating Pulley at the feeding end of the lower conveyor belt and a special agitating concentrator magnet above the lower belt of the upper conveyor.

Jan 1, 1965

By I. Kapageridis

The mining industry worldwide has recognized in the past the need to apply specific rules and guidelines in the reporting of mineral resources and reserves. The high financial investment and risk associated with any mining project and the ever stricter environmental and social controls were the forces behind this recognition. For years the industry experienced the development and enforcement of several codes for reporting accepted by different countries. The implementation of any code can be a confusing task as the guidelines are sometimes general and open to different interpretation. The use of computers in the estimation and reporting of mineral resources and reserves is necessary, particularly when trying to implement particular code guidelines. This paper discusses ways to implement a reporting code in a computerised resource/re-serve estimation study. The implementation is demonstrated using a gold deposit project as an example. The effects of mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors are taken into consideration. This paper also discusses well established reporting codes and the possibility of reaching a single, universally applied code that could be used by Greek mining companies.

Jan 1, 2007