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By A. G. Yapo, T. W. Camm

"All-in sustaining cost is a metric used by mining companies to reflect the cost of gold mining in a consistent format useful to both investors and mining professionals. Cost reporting focused on the direct cost of mining and processing ore was summarized in the non-GAAP cash cost developed by the Gold Institute in 1996. In 2013, a group of mining companies, working with the World Gold Council, developed a more inclusive approach to reporting costs designed to solve the dilemma of showing a more comprehensive reflection of recurring costs involved in producing gold, without discouraging investors. INTRODUCTION Mining today plays a key role in the development of our civilization as a source of essential raw material and provider of essential fuels, producer of jobs, and a factor in support of the international balance of monetary payment (Camm, 2014). Professionals in mining locate, develop, design and manage ore deposits in an environmentally safe and profitable manner. As mineral deposits become increasingly scarce, new challenges face the industry. A current trend is to an increased emphasis on underground mining techniques for deeper deposits. Operations are safer today than before as companies understand better their work environment and the importance of mining responsibly. A continual challenge for the industry is accurately reflecting the costs and selling price of ore. An enduring characteristic of mining is the situation where the market typically determines the price of a commodity; the main control a company has on the bottom line is to control the cost of production. An attempt to bring light and clarity on the cost of their business will give a better idea to investors on the true profitability of the mining business. Gold producers face this struggle to accurately reflect the cost of production while also seeking to attract the interest of the investment community (Hill, 2013). In order to have a consistent format to report on their production costs, leading gold producers through their alliance inside the World Gold Council (WGC), worked on the adoption of a new cost framework: the All-in Sustaining Cost (AISC) and All-in Cost (AIC). Since 1996, the traditional cash cost reporting has focused only on the mining and processing costs incurred in mining an ounce of gold, which included the costs of goods sold (labor, energy, and consumables costs) and royalties (Table 1). But cash cost reporting ignores many important aspects, like sustaining capital, general and administrative expenses, and site rehabilitation at the end of the mine life (Whelan, 2013). The cash cost was used to attract many investors into the business. In fact the high gross margin (sales minus cash costs) has been promoted the past decades by the industry instead of the net or operating margin. As a result, even when the gold price was high, nearly $1900 per ounce in August 2011, gold producers were not reporting excessive profits in their cash flow / income statements, to the disappointment and incomprehension of investors (Milstead, 2014). The truth was simply that the other costs omitted in the traditional cash cost were reducing the apparent profits."

Jan 1, 2017

By Russell R. McLellan

The Tertiary channel gravel deposits in northern California were selected Or detailed investigation by the U. S. Bureau of Mines as part of a national program to locate potential sources of gold that might be developed rapidly by large-scale mining operations. Five bureau research centers representing mining and metallurgy subsystems coordinated their efforts in a team operation to identify and investigate possible solutions to the problem area, that long have discouraged the resumption of large-scale mining in the deposits. This report summarizes the individual investigations, conclusions and recommendations conducted and prepared by all mining subsystems research groups after the completion of two years of field work at the deposits on San Juan Ridge in Nevada County, California. The studies indicate that modern mining technology can cope with the environmental problems that closed the immense hydraulic mines in 1,884. however, they also indicate that mining can be conducted with only marginal profits its unless the price of gold remains substantially above $70 per ounce or unless sufficient by-products can be recovered and sold to place the average value per cubic yard of gravel into a positive commercial range. The by-product potential of the Tertiary gravels remains to be investigated in more detail.

Jan 1, 2012

The Black Hills Mineral Atlas briefly summarizes all important data available on the mines and mineral deposits in the Black Hills that have been explored, developed, mined, or located. The purpose of the atlas is threefold; First, from available data the general potentialities of the Black Hills region can be determined, although it is not possible to calculate actual ore reserves; second, it will provide the necessary basic information regarding a given property or commodity for further detailed study; and third, the compilation is a comprehensive directory of Black Hills deposits.

Jan 1, 1955

The revised estimate of coal production in January 1977, is 39 million tons -- down 12 mi 11 ion tons compared with production in January of last year, largely as a consequence of the snow storms and cold. The major coal-hauling railroads operating in Eastern and Midwestern States reported to the Bureau of Mines that they loaded approximately the same number of cars for the week ended February 5, as in the preceding week. The Bureau of Mines estimates that U.S. coal production for the week ending February 5, 1977, was approximately 8.5 million tons, or nearly 3.5 million tons less than production for the corresponding week in 1976. Coal production from January 1 - February 5, 1977, was approximately 47.8 mi 11 ion tons compared with production of 63.5 million tons for the corresponding period in 1976. As of the first week in February, river and truck shipments of coal in the Eastern U.S. were about one-half of the normal traffic. Despite the freezing weather and ice and snow conditions of rivers and highways and reduced rail shipments, there was reportedly little or no shortage in coal supply to consumers. Inventories at electric utility plants and steel company coke plants at the beginning of the severe weather were sufficient in most cases for at least 30 days" operations. There have been no reports of coal shortages at other industrial plants.

Jan 1, 1977

By Leon Dominian

(Wilkes-Barre Meeting, June, 1911.) I. INTRODUCTION. THE lack of Aryan roots for the names of metals commonly known among the Aryan settlers of Asia Minor, as well as the later colonizers of Europe, indicates that these races were generally ignorant of the use of metals until they came into contact with Semitic peoples. Practically all mining-terms in current use among the earliest Greeks resemble very strongly their distinctly Semitic equivalents, which can be traced all the way in a broad belt beginning in Lower Mesopotamia, and extending westwardly to the Syrian shores of the Mediterranean. The Greek word " "metallon," for instance, used indiscriminately to designate mine or ore, probably came from the earlier Semitic equivalent, " matal." Again, the Greek words " chrysos " (gold) and " chalkos " (copper) seem to be descended from the Semitic forms " throats " and a chalak." It is a natural inference that primitive mining-methods were evolved by the dwellers in the mineralized areas of Asia Minor, from whom later Greek, Roman, and even North European miners obtained their first notions of the reduction of metallic ores, by virtue of a general westward migration of mining and metallurgy. Some traces of its passage through Turkish territory will be noted in this paper. While European Turkey can boast of one ancient gold-field, the Asiatic dominions of the Sultan may lay claim to at least two well-defined and widely-separated gold-producing districts. These three regions may be distinguished as the Thracian, the Pontic, and the Anatolian gold-fields. II. TURKEY IN EUROPE. . The Thracian Gold-Field. The most conspicuous topographic feature of the lowland between Constantinople and Salonica is the uplifted Archaean

Nov 1, 1911

Since the introduction of water cooled test rings the operation of cupelling retort bullion has not alone been sImplified, but has also been the means of concentrating the bullion for the fining test in a much shorter time.The first water cooled test ring which I used was rectangular in shape, inside dimensions 5 ft. 3 in. x 2 ft. IQ in., and made of i in. mild steel plates, with a water space of 9i in. x 3t in. However, it was found that as soon as the filling commenced to wear and the litharge came in contact with the jacket, the plate was gradually affected on the lines of the wash, caused by the blast. After a while the inside steel plate went beyond the factor of safety, and was then substituted on the sides and the front of the test ring by a tin copper plate, which has stood now for the last five years without showing the least signs of wear or leakage.The test remains in use as long as the bottom is regarded as safe, and toward the end of the life of the test the litharge is allowed to work against the copper plate.

Jan 1, 1901

By H. C. Fowler

Technical developments in the American petroleum industry as regards exploration, drilling, production, and transportation were characterized by many anomalous conditions during the half decade 1914-19. A review of the literature of that period discloses the striking fact that individual geologists, engineers, and other technologists were surprisingly well versed concerning the occurrence of natural hydrocarbons and methods of extracting them and were acquainted with many of the physical and chemical characteristics that influence the behavior of fluids in natural reservoirs. However, the industry as a whole knew little of the correct application of recognized fundamentals; indeed, judged by present standards certain expediencies of self-styled "practical' operators seem cumbersome, if not evidences of ignorance.

Jan 1, 1941

By I. Cerny, M. Vanek, J. Hubácek

"SWOT analyses and the closely related TOWS matrix are frequent starting points for an organization to develop its strategy. The paper deals with the evaluation of the TOWS matrix and presents three novel approaches to evaluate the different factors of the TOWS matrix, namely (1) approach to evaluate the factors with identical weights; (2) approach to evaluate factors with their weights determined within the different quadrants of the TOWS matrix; and (3) approach to evaluate factors with weights determined within the whole TOWS matrix. The third approach has two variants. The proposed approaches to evaluate the TOWS matrix were tested on a SWOT analysis of a significant mining company in the Czech Republic. The results imply that the strategy W-T (weaknesses-threats) is recommended in three cases, while the strategy S-T (strengths-threats) is recommended once. The paper may be valuable for managers responsible for strategic planning.IntroductionThe process of human needs gratification has been closely connected with raw material resources of the planet. In the contemporary socio-economic conditions, the task of the mining company managers, apart from extracting mineral resources, is to meet the owners' intents.The managerial work itself becomes very complex. In mining companies in particular, the complexity is augmented by the characteristics of the business. Undoubtedly, the key factor is that mineral resources cannot be renewed or relocated. Stojanovi (2013) characterizes mining projects as involving great investments in finance and time, as well as consecutive decisions and a 'complex mosaic of numerous unknown factors that affect the value of the project'. He adds that mining projects are typified by a 'number of geological, technological, technical, economic, environmental, social, and financial risks' (Stojanovi , 2013).Inter alia, the managerial work may also be intese due to the dynamic internal and external conditions for the existence of any company (Vane? k, 2014). This tallies with Peter Drucker’s prediction in 1969; that the times at the turn of the millennium could be expected to be turbulent (Drucker, 1969)."

Dec 1, 2018

A unity of viewpoint emerged from the workshop. The concept that transmission is via characteristic modes was a common theme in many of the presentations. Also, the confusion an the meaning of monofilar and bifilar to describe these dominant modes was cleared up. But, there was still a healthy divergence of opinion on what constitutes an optimum system. It was generally agreed that further analytical and experimental work is definitely needed. In particular, it was stressed that independent measurements of the constitutive properties of the electromagnetic environment are needed. Also, there was considerable concern that laboratory measurements of rock samples could lead to misleading results for the effective conductivities. Also, there was a general recognition that over simplified propagation theory should not be used to interpret field data. From a theoratical and practical point of view, it was realized that mode coupling plays a vital role in the transmission channel. One must not only understand which and how many propagation modes are excited by the transmitting antenna, but the conversion of energy from one mode type to another must be accounted for. This conversion can either be done intentionally (by fixed mode convertors) or non intentionally (by random wall roughness). In fact, mode conversion can be quite complicated when various propagation paths exist such as when insulated cables, leaky feeders, grounded rails, coal seams, etc. all convey portions of the electromagnetic energy. However, this state of affairs should be regared as an. opportunity for extended communication coverage in mines rather than a limitation of a desig. procedure based on preconceived notions of the dominant propagation mechanism.

Jan 1, 1978

By Theodore J. Williams

Computer control has been one of the fastest moving and most glamorous fields of industrial development in the past decade. A review of this period shows some truly remarkable accomplishments in both system development and applications. In addition, work now under way promises results which will continue the rate of progress of the past. This paper will review the history and status of the field of computer control and point out the major breakthroughs which have occurred. It will analyze the present trends and extrapolate them to predict the early future developments in the field.

Jan 1, 1968

By Christopher Mark

"Many problems in rock mechanics are limited by our imperfect knowledge of the material properties and failure mechanics of rock masses. Mining problems are somewhat unique, however, in that plenty of real world experience is generally available and can be turned into valuable experimental data. Every pillar that is developed, or stope that is mined, represents a full-scale test of a rock mechanics design. By harvesting these data, and then using the appropriate statistical techniques to interpret them, mining engineers have developed powerful design techniques that are widely used around the world. Successful empirical methods are readily accepted because they are simple, transparent, practical, and firmly tethered to reality.The author has been intimately associated with empirical design for his entire career. But where his past papers have described the application of individual techniques to specific problems, the focus of this paper is the process used to develop a successful empirical method. A six-stage process is described:1. Identification of the problem, and of the end users of the final product2. Development of a conceptual rock mechanics model, and identification of the key parameters in that model3. Identification of measures for each of the key parameters, and the development of new measures (such as rating scales) where necessary4. Data sources and data collection5. Statistical analysis6. Packaging of the final productEach of these stages has its own potential rewards and pitfalls, which will be illustrated by incidents from the author’s own experience. The ultimate goal of this paper is to provide a new and deeper appreciation for empirical techniques, as well as some guidelines and opportunities for future developers."

Jan 1, 2015

By L. Nahai

In two decades Turkey has emerged from the debacle of the Ottoman Empire to become one of the most modern nations in the Middle East. The numerous achievements of this period were remarkable in that they affected human and social, as well as economic, fields. Most of this progress was achieved by Turkey's unaided efforts and the utilization of domestic resources; however, since 1948 various United States aid programs3/ have made significant contributions to increased agricultural and industrial output. Turkey's singleness of purpose in favor of a strong, independent, and prosperous republic has evoked universal admiration and encouraged the hope of stability in the Middle East. Much of the development of the Turkish economy to date has been fostered by the State; however, with growing strength the leaders in 1950 considered the time appro¬priate to relax the nationalistic economic policy and permit private enterprise to play a larger role in increasing domestic output and raising the tempo of industrialization. In pursuance! Of this policy, laws encouraging investment of foreign capital in Turkey and others stimulating development of mining and petroleum enterprises were enacted in 1954. This new legislation, plus the cooperative attitude of the Turkish Government, have encouraged wide interest in the mineral resources of the country.

Jan 1, 1958

By M. A. Schellhardt

In recent years development of instruments and equipment for determining subsurface pressures and temperatures in. gas and oil wells has made it feasible to obtain information that eras not available in the past on many gas-production problems. The material presented in this report illustrates particularly the value of subsurface-temperature data in the study of subsurface leakage from gas wells. An abnormal decline in the shut-in pressure of the Lone Star Gasoline Co. A. Jones No. 1 gas well in the southern part of the Buffalo (Tex.) field was observed during an interval when a negligible volume of gas bras being withdrawn from the reservoir. Wellhead-pressure readings indicated that the shut-in pressure of the well declined from 2,295 pounds per square inch gage on February 3, 1937, to. 1,445 on February 12, 1935. Tests conducted by engineers of the Lone Star Gas Co. suggested that the subnormal pressure gaged on February 12, 1938, probably was not caused by a head of liquid in the well.

Jan 1, 1940

The first metal-mine accident-prevention course was prepared and published in 1942--45 as a series of seven miners' circulars (Nos. 51-57). The scope of the course has been broadened, revised, and brought up to date, and it is being published as a similar series of seven miners' Circulars (Nos. 51-57, revised) on accident prevention in metal and nonmetallic mines. These circulars are: Accident Statistics (Miners' Circular 51), dealing with general statistics on accidents and injuries at metal and nonmetallic mines, including causes, costs, and the uses of investigations and reports of all accidents.

Jan 1, 1957

The Aluminum Company of America (Alcoa) announced that the second unit at its experimental facility at Palestine, Tex. would begin production -in 1979, increasing the capacity of the facility to 30,000 tons per year. The plant uses an experimental process based on the electrolysis of aluminum chloride and reportedly uses 4 to 5 kilowatt hours per pound of aluminum produced, compared to an industry average of about 7 to 8 kilowatt hours per pound. Alcoa has reportedly signed a letter of intent with the Chinese government under which Alcoa will conduct feasibility studies on two new integrated aluminum projects and modernization of an existing aluminum plant. If the study results are favorable, Alcoa Engineers Inc. and the Import and Export Company of the Chinese Ministry of Metallurgical Industry could negotiate agreements to provide Alcoa technology and services for the projects.

Jan 1, 1979

By Albert Ladd Colby

A GLANCE through the Bibliography appended to this paper will show that the Transactions of this Institute contain what virtually contitutes a history of the development of the manu¬facture of steel rails in this country and abroad. It is, therefore, fitting that this paper, bringing one branch of this important subject down to date, should be here presented, and it is also appropriate to select this joint meeting of our Society with the Iron and Steel Institute to compare the specifications covering the rails produced in these two countries, and to propose a standard specification to govern the manufacture of American rails for export. During the last ten years the production of Bessemer steel rails in the United States and Great Britain has amounted to 32,128,720 gross tons. Nearly 19,000,000 tons have been rolled in the past five years. The next five years will see an even larger output, owing partly to the extension of railway projects in the Orient, in South and Central America, in Mexico, and in Australia and the other British Colonies. Of late years, the American rail-mills have so largely increased their daily output, that trade conditions have often made possible the delivery of American rails to foreign ports. The tenders submitted by American mills, however, have always been accompanied by requests for changes in the foreign specifications, chiefly in the reduction of the amount of testing required; and it has only been natural, especially at first, that the engineer, whose specification had always been accepted without question by British mills, should interpret American tenders 'as an evidence that an inferior rail would be furnished

Sep 1, 1906

In response to increased aluminum demand, U.S. producers have begun reactivating primary aluminum capacity which was shutdown during the 1974-1975 recession. Reynolds Metals Company started up almost 80,000 tons per year of idled capacity at Listerhill, Alabama, and Jones Mills and Arkadelphia, Arkansas plants. Howmet Aluminum Corporation and Alumax announced that the operating rate at their jointly owned facility at Frederick, Maryland was being increased from 75 percent to 100 percent, equivalent to a 44,000 ton-per-year increase in output. Kaiser Aluminum and Chemical Corp. expected to restart one of the two idled potlines at its Mead, Washington facility in May raising its production rate by 27,000 tons per year. ANTHRACITE - The anthracite market for the larger sizes continues at a good level, and although the demand for industrial sizes has been weak, the current trend indicates an increased demand for industrial fines by the steel, auto, and other industries.

Jan 1, 1976

Most of the Indian coking coals are medium coking and of very high ash content. Beneficiation of these coals is a must for their utilisation in coke making. During washing while the ash content of the coal is reduced, the same is expected to affect the reactive-inert ratio and the proportion of various petrographic constituents in the clean coal. This will affect the coking behaviour, including the expansion characteristics, of such coal. An increase in expansion behaviour of coal increases the wall pressure and may damage the battery wall. Therefore, close monitoring of coking properties along with drop in ash is necessary for smooth use of the coal in coke ovens. An effort is, therefore, essential to understand the impact of washing on its coking properties. The studies were carried out with captive coals of Tata Steel, India. Three medium coking coal samples namely, VII A, VI A and XI SEB seam coals of West Bokaro Colliery were used for the study. The coal samples after washing to different ash levels were subjected to the following analysis: proximate, crucible swelling number (CSN), LT GK test, dilatometer and plastometer tests and petrography. The experimental data were then analysed to assess the relationship of various coking properties of the coal with its ash content. The studies clearly show that there is a strong impact of beneficiation of the coal on its coking behaviour. The impacts are more at lower level of ash in the clean coal. In general, the coking properties increase with a decrease in ash. This is primarily due to an enrichment of vitrinte materials in the clean coal and an increase in the reactive-inert ratio in the coals. However, the most important impact of the lowering ash is on the increase in the swelling nature of the coal. The coals with lower ash become highly expanding in nature. This may be very critical from operations of coke ovens point of view, especially stamp charged coke ovens. Necessary precaution should be taken in selecting the other coal blend constituents when these coals are beneficiated to a very low level of ash content.

Jan 1, 2014

By W. C. Holliman

Commercial production of synthetic rubber in the United States became a reality in 1931 when E. I. duPont de Nemours, Inc., announced the manufacture of Duprene, a synthetic rubber made by polymerizing r chloroprene. Duprene was later improved and reintroduced as neoprene. Since 1931 other synthetic rubbers and rubberlike materials have been announced and are now produced commercially or are in the pilot-plant stage in the United States. These include Thiokol, Buna S, Perbunan, Koroseal, Vistanex, Flamenol, Ameripol or Hycar, Chemigum, Butyl rubber, and Flexon. None of these is synthetic rubber in the strict chemical meaning of the word synthetic, as none is identical in chemical structure with natural rubber. However, all possess some of the physical properties of natural rubber, and in addition usually have some outstanding property not found in natural rubber that makes them superior for certain uses. Because of these superior qualitites, a considerable demand had arisen for synthetic rubbers before the present emer¬gency, although the price was several times that of natural rubber.

Jan 1, 1943

By S H. Begg

There is strong evidence that many major oil and gas (O&G) projects are plagued by large cost and schedule overruns, or significant underperformance in productivity. Similar evidence exists for large mining projects. This paper claims that uncertainty is the underlying reason why projects fail to deliver the metrics used to justify their investment, or to deliver the economic value possible if alternative decisions had been made.Most technical and economic analyses are performed to reduce uncertainty to help make decisions. Decision-making is about ranking alternatives and choosing the best; rarely are precise predictions required, if this is even possible. Better uncertainty assessment is one of the keys to better decisions, thus better business outcomes. To get better decisions it is suggested that the focus or reward/penalty incentives be shifted away from the quality of outcomes to the quality of decisions. High-quality decisions are those that are generated from the skilled use of the tools, methodologies and processes from the discipline of decision analysis.Uncertainty is quantified by probability, which is a degree of belief in the truth/falsity of some proposition about a quantity relevant to a decision, such as volume of in-place resource, future price or action of a competitor. The probability a person ascribes to a proposition depends upon their information set; hence probability is subjective – it is not an inherent attribute of the quantity of interest or the physical system.The above simple observations have profound implications for modelling approaches, how they deal with uncertainty, the use of data to help assess uncertainty and the reliability of information provided by subject-matter experts. The limited circumstances under which frequency data (from spatial or temporal variables) can be used to assign probabilities is also reviewed.People, in general, are subject to a range of biases and cognitive errors. Research with O&G subject-matter experts shows that their expertise offers little or no protection from making errors in probability assessments and other judgements.CITATION:Begg, S H, 2016. Decisions, decisions – uncertainty, variability, modelling and psychology, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 9–18 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016