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By Z. Sample

"INTRODUCTION This past year commodity prices continued their dip with increased volatility causing market values to slide another 16% putting increased pressure on even the largest companies to improve their free cash flow.[1] Without a recovery in commodity prices in sight, companies must find a sustainable method to improve returns in the current economic climate. In an effort to improve plant sustainability, the mineral processing industry is investing in advanced automation technologies and innovative processing methods that are both more reliable and more efficient than ever before. One such breakthrough technology is Heap Leaching (HL). This method of extraction has certain advantages over traditional metallurgical methods making previously unsustainable operations economically feasible. While HL is already seeing use in the gold and copper industries among others, recent developments may allow for the use of HL to process primary sulfide ores which make up about 80% of today’s ores.[2] For this reason, this emerging technology is poised for exciting growth. Unfortunately, as with any process change, the implementation of HL projects requires significant training on both the control system as well as the underlying process, and further, due to the complex nature of the HL process, this can be a particularly difficult task. DEMOGRAPHIC TIME BOMB Even before the implementation of these new technologies, the availability of the skilled workforce has already become a significant problem for the mining and mineral processing industries. From a survey of 912 mining professionals, Stratum International found that a mere 0.4% of senior level candidates were between the ages of 25 and 34 and a similar proportion aged over 75 years.[3] This indicates that there is both a deficiency of young skilled workers and a skilled workforce that is retiring earlier than the previous generation. Combined with data published by the US Department of Labor stating that the median age of the mining workforce is approaching 50 years old, research suggests that up to 50% of skilled mining and mineral process professionals are expected to retire in the next 5 years, leaving with their irreplaceable knowledge and experience.[4] While it is projected that the labor pool will be sufficient to fill open positions, the real question is if this young workforce will have necessary skill sets and experiences. In addition to a rapidly aging workforce and an inexperienced labor pool, a study done by the Oil and Gas Journal showed that it takes about 7 years, on average, for new workers to achieve a level of competency that permits them to assess risks and appropriately make decisions.[5] Not only is this figure is in direct conflict with the typical tenure of 5 years in one position meaning that the thinly spread skilled labor will be required to become senior staff before they are able to achieve competency in their current role, this also means that these millennials are not given the opportunity to become competent in their role before the retirement of the more experienced workforce."

Jan 1, 2016

By William P. Walsh

In December 1983 the author undertook an investigation in east Texas which was organized to learn the feasibility of applying geophysical techniques over shallow lignite deposits. The work embraced experimental high resolution seismic reflection and offset Wenner resisitivity sounds over three 1/4 to 1/2 mile test sections. This site also was sponsored by Woodward-Clyde Consultants (WCC) and a consortium headed by North American Coal Corporation. The principal objective of this investigation was to learn whether the aforementioned geophysical techniques could be applied over shallow lignite deposits (i.e. located at approximately 100' to 300' in depth) and consequently provide structural and stratigraphic information useful for resource and reserve characterization. A secondary objective was to determine if these same techniques could disclose the nature of the overburden and the distribution of ground water therein.

Jan 1, 1986

By R. V. Ramani, S. Shankar

The phenomenon of re-entrainment is seen in environments such as sand dune formation, soil erosion, fugitive dust emission and the spread of radionuclides from accidents involving nuclear weapons. A thorough review of existing literature reveals that work on re-entrainment of dust in mine atmospheres is scant. The present study was undertaken as a part of ongoing research at the Generic Mineral Technology Center on Respirable Dust at the Pennsylvania State University on the development of methods to predict ambient dust concentrations in mine atmospheres (Ramani, 1983). The contribution of re-entrainment to the spatial and temporal concentration of dust in mine airways is being studied. The research has included wind tunnel and in-mine studies. A set of seven experiments was performed under controlled conditions in the US Bureau of Mines' Lake Lynn Laboratory mine. Two types of source coal dust, anthracite and bituminous, were subjected to various airflow rates and were subjected to walking by two different individuals. Six sets of instruments were used along the test section for sampling airborne particles. The average air velocity just above the coal dust bed varied between 2.1 to 3.2 m/sec. Due to re-entrainment as a result of the airflow conditions, the average respirable dust concentration in the center of the mine airway increased to 0.09 mg/m3 (standard deviation = 0.03 mg/m3) from an initial value of 0.02 mg/m3. The concentration of all (total) airborne dust increased to 0.17 mg/m3 (standard deviation = 0. 10 mg/M3) from an initial value of 0. 02 mg/m3. The action of people walking, however, caused higher amounts of re-entrainment. The average concentration of respirable and total dust at the center of the mine airway increased to values of 0. 28 mg/m3 (standard deviation of 0.12 mg/m3) and 1.53 mg/m3 (standard deviation of 1.0 mg/m3), from initial values of 0.03 and 0.05 mg/m3, respectively. It was observed that the dust concentrations were much higher near the floor, immediately at the end of the coal-dust bed. Depending on the level of activity and the amount of dust deposited in the mine airways, re-entrainment may become an important source of airborne dust in areas away from the point of actual mining.

Jan 1, 1996

Coal-derived flue gases contain CO2/SO2 and these contaminants preferably have to be captured by cheap sorbents. This remediation approach is from the standpoint of addressing issues such as global warming, acid rain and development of Advanced Power Generation Systems and to realize the economic gain as well. Conventional and existing dry scrubbing technologies use regenerable sorbents which are pollutant specific and require expensive stabilizers in order to attain versatility. This paper discusses the use a novel class of sorbents prepared from the heavy metal contaminated Berkeley Pit water (Butte, Montana) by a proprietary process developed at The University of Nevada, Reno. These sorbents are activated mixed spinel ferrite (MxFe,_X04)' Preliminary experimental results show that the sorbents have good desulfurization and CO2 decomposition capacities. The decomposition effectiveness of these mixed spinel ferrites was studied at 300°C and compared against the synthetic magnetite obtained from ferrous sulfate solution in our laboratory. The results indicated that the mixed spinel ferrite had good affinity for the adsorption and decomposition. The CO2 decomposition data of both sorbents fitted the first order reaction kinetics. Even though the surface area of the magnetite was higher than that of mixed spinel ferrite, the CO2 decomposition rate of the mixed spinel ferrite was estimated to be 2.5 times higher than that of magnetite under identical conditions. The carbon analysis deposited on the sample indicated that the CO2 was 100% decomposed into carbon and other carbon! hydrogen compounds by the mixed spinel ferrite whereas the conversion was 43% by the magnetite. In terms of specific adsorption of carbon, ferrite was 3-5 times more efficient than magnetite.

Jan 1, 1996

By Roberto de Moraes

Lunar construction faces unique challenges arising from the nature of regolith and megaregolith. Unlike terrestrial soils shaped by weathering, lunar regolith is composed of angular, poorly sorted particles produced by impacts, with bulk Density, strength, and trafficability varying sharply with depth and terrain. Boulder fields, floaters, and talus aprons add further complexity, disrupting excavation and mobility. Apollo missions documented these conditions through drive-tube samples, trenching, penetrometer data, trafficability tests, and seismic profiling, but the results remained as datasets rather than a unifying classification. This paper introduces the LRC (Lunar Regolith Classification) Framework and the Overconsolidation Ratio applied for the Moon (OCR*), the first contractor-ready system to organize Apollo-derived trends into excavation demand zones (L1–L5). LRC is explicitly a classification, not a stratigraphy: depth ranges are indicative and require in-situ verification before use. Each zone is defined by bulk density and strength ranges, field proxies (bootprints, trench stability, auger torque, seismic contrasts), and corresponding excavation implications. Worked examples from Apollo 15 (mare), Apollo 16 (highlands), and Apollo 17 (pyroclastics and talus) demonstrate how observed data translate into LRC zones. These cases show that LRC captures both systematic depth trends and sharp local heterogeneity. The framework standardizes excavation planning for landing pads, haul roads, berms, foundations, and tunneling trials, while converting floaters from hazards into resources. LRC thus provides a common language for lunar construction. Rooted in Apollo evidence but designed for Artemis verification, it is proposed as a living standard; a reference framework to guide site preparation, excavation, and risk management in the next phase of lunar development.

Feb 22, 2026

By Jerry R. Johanson

Introduction Many solids processes that look feasible on paper or even in pilot studies become disasters in full scale. Changes in solids flow characteristics from pilot scale to full scale be- cause of larger solids contact pressures, thermal shocks, or unforeseen temperature excursions often cause full-scale solids flow problems not encountered in the laboratory or pilot studies. Fortunately, proper applications of solids flow principals and solids flow properties measurement at full scale conditions can anticipate the problems and thus provide an accurate basis for full-scale design or existing plant modifications. Solids flow properties The basic solids flow property definitions are given in Table 1 (Johanson, 1966, 1976, 1978, 1985). In this section, the author will discuss each property and its potential for creating full-scale pilot plants. Unconfined yield strength The unconfined yield strength of a bulk solid determines the tendency for cohesive hangups of the solids in the process and is effected by the time at rest, chemical reactions, temperature, liquid content, solids size consist, and phase changes of solids or fluids involved in the process. One of the common mistakes is to consider the solids condition only at the beginning and the end of the process. For example, consider the direct reduction of iron ore. The feed solids are free-flowing, hard lump ore or pellets. The end result is a hard, free-flowing reduced sponge iron lump or pellet. One might conclude that the process involves free-flowing lumps. This conclusion may seem reasonable based on laboratory studies oreven pilot plant studies where solids contact pressures are very low. Unfortunately, during the reduction reactions at high temperatures, the rock or pellets soften and, with solids contact pressures associated with the full-scale plant, may fuse together, thus providing a possible solids hangup in the moving bed reactor not evident in the low pressure pilot scale. Fig. 1 shows some typical unconfined yield strength measurements for pellets as a function of solids contact pressure at various times at rest. Note at low consolidation pressures, generally associated with laboratory or pilot plant studies, the pellets show no strength unless held at rest for an extended time. This will produce a very free-flowing condition in pilot plants that will not exist in the full size reactor.

Jan 1, 1990

By J. R. Evans

In order to patent an industrial mineral placer mining claim, it must incorporate an economic deposit. Each ten acre parcel is evaluated for its mineral -in -character nature. Nonmineral -in -character parcels cannot be patented. Economic concerns include: claim locations, dummy locators, common variety nature, "excess reserves," and environmental constraints. Also, geologic and mineralogic studies, sampling and testing procedures are vital. Mining, milling, processing cost, and taxes must be evaluated. Product marketability analysis is necessary before starting any cash flow or discounted cash flow study. Valid data is essential to evaluate an economic industrial mineral deposit.

Jan 1, 1997

By C. D. Secrest

Visiting Spring Canyon, a historic coal mining district near Helper, Utah, I was impressed by the great accomplishments that had taken place there. A tour book of the region tells of a period that began in the early 1900's, when the land was still very much the Old West, when settlers lived out their lives in coal company towns and produced a resource that was to build a nation (Cunningham, F., 1990). Between 1912 and the early 1970's, 11 mines had come and gone in that narrow canyon less than 15 kilometers long. Spring Canyon is a historic district now, but I could not dwell too long on the richness of its history. I was there to look for evidence of PCBs.

Jan 1, 1993

By Liu Hanzhao, Jin Yongduo

Many gold ores which are not only submicroscopic but also rich in arsenic and organic carbon, for example Dongbeizhai Mine, have been found in china. These ores belong to the most refractory ores The key to the recovery of gold from these ores is preoxidation. Dongbeizhai ores have been tested with biooxidation, chlorination, double oxidation, acidic and alkaline pressure oxidation, catalytic oxidation, NITROX and roasting. To date it appears that either roasting or pressure oxidation is optimal. It is suggested that the flotation-roasting (or pressure oxidation)-CIL process should be used to treat this type of ore.

Jan 1, 1995

By W. H. Jang

Recent research has demonstrated the utility of the FTIRIIRS adsorption density equation for in-situ study of surfactant adsorption phenomena at the surfaces of reactive internal reflection elements (IREs). The FTIR/IRS adsorption density equation is given by (formula) where r is the adsorption density, A/N is the absorbance per reflection, e is the integrated molar absorptivity, 4 is the bulk concentration of the surfactant, d. is the effective thickness, and dP is the depth of penetration. Previously, the validity of the adsorption density equation had been confirmed only from solution depletion measurements with high surface area powders. Now, FTIR/IRS studies of Langmuir-Blodgett (LB) monolayer films of fatty acid transferred to the surface of a calcium fluorite IRE .clearly validate the reliability of the FTIR/IRS adsorption density equation for quantitative analysis of surfactant adsorption. In addition, it was confirmed from the observed absorption band at 1550 cm-1 that the first monolayer of the transferred fatty acid chemisorbs at the surface of fluorite.

Jan 1, 1994

By Charles B. Dugger

Sacrificial linings for grinding mills have been a necessary state of the art of mineral dressing since the inception of comminution. Long recognized as the final link in energy transmission from power line to ore, mill liners as a scientific endeavor have not expanded as rapidly as other branches of mineral dressing engineering. Several reasons for this technological lag are apparent. Typically in the past, labor intensive foundries were freely located geographically, at a time when transportation charges made up a significant portion of the casting cost. Alloying agents had not gained their current level of sophistication and were relatively inexpensive in the quantities required. Precise foundry controls were not economically justified, or totally understood. Coincidental to these elements, liner consumption per unit processed did not categorically contribute as a major cost item to the mill operator. Grinding equipment was small, and many times lining life exceeded that of the promoter. These unique conditions no longer exist. Ore dressing equipment has grown to meet modern mining demands. Larger processing facilities, utilizing fewer pieces of equipment, have replaced operations of the past. Emphasis today and tomorrow is on larger and larger equipment, with an eye on lower and lower unit processing costs.

Jan 1, 1979

Though the mining industry is beset with problems-a broad slump in metal prices, a rash of acquisitions and takeover attempts, rising capital costs, and an aggressive Canadian energy program-there was an under-current of optimism at the 1981 AMC conference that's been missing at industry meetings in recent years. The industry anticipates a turnaround in the 1980s, buoyed perhaps by the new spirit of cooperation from the Reagan administration. For the first time in years, it appears that Washington and the mining industry share mutual goals for developing the nation's resources. A number of prominent Reagan officials were on hand during the three-day conference in Denver, September 28-30, to reassure conferees that restrictions plaguing energy and minerals development would be eased. Interior Secretary James Watt and other government speakers promised cooperation in bringing balance to federal public lands policies, a review of regulations that have hampered the industry, and prompt action on domestic minerals policy. Daniel N. Miller, Jr., assistant interior secretary for energy and minerals, said, "It is our intent to dismantle the overhearing bureaucracy that has stifled mineral and energy exploration. We know that Interior's rules have shackled the mining industry in recent years, and we know that those rules must be eased." Miller noted that the administration will not permit mining on national park lands or wildlife refuges, but added that "we must assess a variety of uses of public lands ... we will restore lands to multiple use where practical." EPA administrator Anne Gorsuch assured industry representatives that the administration intends to work within environmental laws and with Congress to review and revise water, soil, and air pollution policies. "We have a strong commitment to see that there are major mid-course corrections" of air regulations, Gorsuch said. Support from these "new friends in Washington" will be crucial in light of the serious problems pressuring the industry. Copper prices have plunged to almost three-year lows and prices for molybdenum, gold, and silver have slumped. Earnings are down and today's high interest rates prevent a quick turnaround. Companies are on edge after the recent takeovers of Kennecott, St. Joe Minerals, and Texasgulf Though the companies may benefit from the major injection of capital that large energy firms can provide, many observers fear the new parent companies won't be willing or able to survive the cyclical metal markets. Arco and Gulf Resources, for example, have been criticized for closing Anaconda's Montana copper facility and the Bunker Hill unit in Idaho, respectively. Canada's national energy program has brought additional pressure on the industry. This policy, which emphasizes Canadian majority ownership of the country's energy sources, resulted in acquisition of Texasgulf's Kidd Creek lead-zinc-silver complex by Canadian and French interests. In response, the American Mining Congress adopted two resolutions on takeovers. One calls for the US government to review laws regulating tender offers and takeovers "to better ensure that principles of fairness and sound investment policy govern such transactions.'' The other asks the government to demand "fairness and reciprocity" as a basis for US policy governing international trade in minerals and investment relations with other countries. AMC's shopping list included four other priority goals, aimed primarily at the Interior Department: • Prompt implementation of Interior's efforts to bring order and balance to rules governing access to public lands for exploration and development. • Statement by the President of a comprehensive and coherent domestic minerals policy. • Amendment of the Clean Air Act to remove impediments to productivity and barriers to economic development that are not necessary to essential goals of the act. • Development of new approaches to better achieve worker health and safety in the most cost-effective manner without penalizing productivity. Almost 6000 mining industry executives attended the 1981 convention-the largest in AMC's 84-year history. As in years past, the conference offered a wide spectrum of presentations-nearly 100 papers in 26 sessions-ranging from commodity forecasts to the latest technical achievements. New Administration Stockpile Goals The minerals availability session included a presentation on management of the minerals stockpile by Paul K. Kruege r of the Federal Emergency Management Agency. Krueger notes that rather than providing incentives for development of a domestic raw materials industry, the government has "a history of providing disincentives to industry." In mining industries, he adds, the rate of productivity growth has been -6% over the last six or seven years. Krueger feels there will be a major change under the Reagan administration. In March 1981, FEMA began the first purchase program for the national defense stockpile in over 20 years. The stockpile is sadly out of balance, Krueger adds. Stockpile materials are

Jan 12, 1981

By B Scheiner, D. A. Stanley

Introduction Treatment of ores to recover metal and mineral values results in waste materials usually in the form of dilute slurries. The US Bureau of Mines (USBM) investigated a technique for dewatering phosphatic clay waste by flocculating with polyethylene oxide (PEO) and dewatering the resulting floes on a static screen and/or trommel screen (Schemer et al., 1985). In the investigation, it was determined that PEO was far superior to polyacrylamide polymers for this type of dewatering. This paper discusses reasons for this superior performance. Comparison of PEO with polyacrylamides Dewatering experiments were conducted by adding PEO solution from a burette to a stirred clay slurry. The dewatering endpoint was characterized by rotation of the floc mass as a unit, a clear supernate, a maximum floc size, and a minimum floc volume. Additional water was removed from the floes by hand squeezing (Schemer et al., 1985). The clays investigated were sodium, potassium, magnesium, calcium, and aluminum exchanged montmorillonite and attapulgite. Nine commercially available (Superfloc) polyacrylamides were compared with PEO at two polymer concentrations. Results are summarized in Table 1. The solids content of the dewatered clays ranged between 24% and 33% and was highest for PEO-treated material. These results and the data in Table 1 indicate that PEO is superior to polyacrylamide in terms of polymer dosage required. Superflocs 16 through 128, like PEO, are nonionic and should give similar results to those for PEO if the flocculation mechanism is the same for both type polymers. Superflocs 204 through 214 are anionic with increasing anionic character from 204 to 214. Generally, the anionic polymers gave the best results for the polyacrylamides tested, but in terms of dosage they were not as good as PEO. Correlation between flocculation and dewaterability of waste slurries The overall mechanism for mechanically induced clay dewatering is not completely known, but certain observations can be made. For instance, when a polymer is adsorbed on a clay such as montmorillonite, the polymer desorbs interlayer water. Polymer adsorption is driven by favorable entropy changes associated with this water desorption. It is also known that the -CH2-CH2- links of the PEO chain are sufficiently hydrophobic to lead to physical adsorption of the polymer (Theng, 1979). For montmorillonite slurries, the sheet-like fundamental particles, called tactoids, consist of a small, variable number of aluminosilicate layers together with interlayer water and exchange ions. The flocculation process consists of adsorption of polymer on the tactoid. Loops and tails of polymer that extend into solution then adsorb on another tactoid, forming a bridge. Mechanical action, induced by hand squeezing or in a trammel, joins the bridged tactoids face-to-face and edge-to-edge to form regions of high density. Similar orientation effects are observed for the needle-like attapulgite crystals (Schemer et al., 1985). Proposed flocculation model Generally, statements concerning flocculation and dewaterability apply to both PEO and the polyacrylamides. However, PEO has additional interaction with the clay material when compared with polyacrylamides. PEO is a polymer with repeating -CH2-CH2-O- groups and interacts with montmorillonite through a water bridge whose strength is greatly influenced by the exchange ion. To obtain insight into this interaction, a series of experiments were conducted in which different ion exchange forms of montmorillonite and attapulgite clays

Jan 1, 1987

By Joseph J. Yancik

An exchange of coal mine specialists was made with the USSR under an "Agreement on Exchanges and Cooperation in Scientific, Technical, Cultural, and other Fields for 1972-73," which was signed by President Nixon and Chairman Breshnev on April 11, 1972.* This exchange, in the field of coal mine safety and scientific research in hazard control technologies, was one of 16 technical exchanges covered under the above agreement. A six-man USA delegation visited the Soviet Union from September 9 to September 21, 1973. The delegation visited four deep mines, three in the Donets Basin and one in the Moscow Basin, a State Safety Research Institute, a Mine Research Station and associated Research and Design Institute, two Research and Design mining equipment institutes, and a Trade Union-sponsored health sanitarium. In Moscow, the delegation received a briefing on the Soviet coal industry from First Deputy Minister Vladimir Fedanov. A similar briefing was given to us on the Donets coal basin by the Deputy Minister S. Saratikyanz of the Ukrainian Coal Ministry. Lengthy technical discussions were held with the mines staff and research personnel at the institutes we visited. In addition, we had detailed discussions with key staff members of two combinats "Donetskugol" and "Tulaugol." In all these meetings, principal topics were matters of safety related to hazards associated with face mechanization, coal transport, methane gas control measures, gas outbursts, coal and rock outbursts, fire fighting add control, explosion suppression and control measures and other related hazard factors. There was also much discussion on miner training, miner's attitudes toward safety and accident prevention practices, and preparation and enforcement of safety rules and regulations. The delegation was very warmly received and constant attention was given to our needs. Our numerous questions were answered with candor although quite often in not as much detail as we would have liked.

Jan 1, 1974

By R. Y. Wan

Newmont Gold Company has advantageously used the capabilities of mineral oxidizing bacteria to develop a process for pretreatment of low grade sulfidic and carbonaceous-sulfidic refractory gold ores. The biooxidation process results in the oxidation of the sulfidic minerals with increased exposure of gold for subsequent gold recovery. The biooxidized carbonaceous-sulfidic ores cannot be heap leached with cyanide because of the "preg-robbing" characteristics of the carbonaceous matters in the ores. An alternative heap leach process using ammonium thiosulfate was developed to extract gold from the "preg-robbing" biooxidized ores. The ammonium thiosulfate leach process has been successfully practiced both in laboratory and pilot plant testing. Satisfactory test results encourage the continuation of process development.

Jan 1, 1996

By Andrea Brickey, JUDITH BUABA, RICHARD AMOAKO

This study applies a machine-learning technique known as multiclass logistic regression on a 10-year injury dataset from the U.S. Mine Safety and Health Administration (MSHA) to determine miners’ susceptibility to injury and to help identify significant risk factors associated with different classes of injury. The analysis identifies specific risk factors that influence a mineworker’s susceptibility to a given class of injury: nonfatal with no days lost or restricted activity; nonfatal with days lost and/or days of restricted work activity; and fatal and total permanent or partial permanent disability. These factors include miner’s age, mine type (coal versus noncoal), experience on the current job (years), shift start time, employment type (operator versus contractor), mining district and type of accident. The results of the analysis indicate that a miner’s experience on the job (the number of years worked in a current job) is a significant risk to injury occurrence, even for those with decades of total mining experience.

By Paul H. Johnson

A new system for leaching many types of ores has recently been developed on a commercial basis by J and J Research and Development, Inc. of Hanover, New Mexico. This revolutionary new leaching system consists principally of three new leaching reactors; viz, (1) a large, air-agitates, column-like reactor for leaching crushed ores that is constructed in an underground environment and has the inherent ability to do a very efficient job of leaching, (2) a vat-like, air-agitated vessel for leaching an rinsing finely ground ores and , (3) an air-agitated copper precipitation column that is built underground and utilizes an inexpensive dense or heavy scrap iron as a copper precipitant. Each of these new reactors have been used in a large leaching plant near Hanover, New Mexico.

Jan 1, 1973

By M. Downing

This paper gives a brief overview of impacts of coal blending on coal-fired power plants performance and discuses the preliminary results of an on-going study aimed at evaluating the effect of coal properties on the effectiveness, compatibility and thermal reactivity of coal blends. Plant survey studies reported no significant impacts on an existing plant designed for a high rank coal when switched to a blend of low-and high-rank coal. However, slight modification of some aspects (handling, fuel storage/stockpile, transportation, preparation, and general housekeeping) of plant design and operation may be necessary. The preliminary results of an on-going study at the Mineral Industry Research Laboratory shows that more compatible and better blends could be made from coals where ranks are closer than from those where ranks are far apart.

Jan 1, 1997

By [Miroslaw] M. Hajdasinsk

The identification of the real internal rates of return (IRR's) of a project is essential for its economic evaluation. The existing methods for the calculation of IRR's are both cumbersome and unreliable, mainly because of their inability to effectively isolate the real IRR's and incapability of discovering multiple IRR's of even multiplicity. In this paper, a concept of the 'cash flow pattern tree used for isolation of the real IRR's of a project is presented. This concept, combined with the Sturm procedure for counting the real distinct zeros of a polynomial within a specified interval, leads to the development of a method and computer program for isolation and calculation of the real IRR's of a project. The method examines whether or not real IRR's exist, and if they do, isolates them within bounded and narrow intervals in a mathematically founded way. The isolated IRR's, whether simple or multiple, are subsequently calculated either directly or by means of an appropriate approximation procedure. Numerical examples assist the development of the method and the corresponding computer algorithm. Because any Net Present Value treated as a function of interest rate can easily be transformed into a polynomial, the method presented also constitutes a method for finding the real zeros of a polynomial.

Jan 1, 1986

By Niall Weatherstone

Introduction Risks & Rewards of a Mineral Reserve Life History of a Mineral Reserve Estimate Risk Assessment & Management Mineral Resource & Reserve Estimation Good Practice Mineral Resource & Reserve Reporting Conclusions

Jan 1, 2003