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By Júlio C. Lúcio

Consider the case of a mining company with N investment opportunities in projects of different commodities. The problem is: since the company has limitation of capital, equipments, technical staffs, etc, what is the best portfolio of production projects in order to maximize expectations from shareholders? In the no-longer past, the traditional method for the selection of portfolio of projects was the rank-an-cut method. But, this does not properly account for the risk to which the company is exposed. The Markowitz?s Mean-Variance is an advance because the risk of the NPV can be estimated at the level of the company or even division of the corporation. The final product of the Markowitz?s model is the efficient frontier, in which, the manager can clearly understand the maximum return from existing assets and the associated risk level - but this model does not recommend which one is the best portfolio. In this paper we present a model to select the best portfolio considering not only economic indicators, but also requirements of production, constraint in investments, etc. We show that if investors are diversified, managers should select projects with highest return, regardless of risk. However, in practice, if bonuses of managers are tied to their performance, the choice for portfolio with lower return and risk can happen. Numerical application considering typical portfolio of large mining company is used as example.

May 1, 2009

By Thomas T., Read

IT will be recalled that the first professor of metallurgy in the United States, appointed in 1855, never really gave any instruction in metallurgy and gradually turned into a professor of mineralogy. Metallurgy was included with. mining in the early curricula, two students who took the B.S. in mining engineering from the Polytechnic College of Pennsylvania in 1862 wrote their graduation theses on the metallurgy of copper and zinc, respectively. Even after Columbia School of Mines established, in 1868, a separate curriculum leading to the Ph.B. degree in metallurgy, very few students elected it,* preferring to take the mining degree, since they received in its curriculum nearly all the metallurgical instruction they would have in the metallurgical curriculum. For many years a large proportion of the men who attained prominence in metallurgical enterprises had taken mining rather than metallurgical degrees. METALLURGY Clifton Sorby's study of thin sections of rocks under the micro¬scope, beginning in 1850, and its subsequent development by Zirkel and others, had made microscopic petrography a recog¬nized department of geological research as early as 1873. . It was inevitable that the idea of studying polished metal surfaces-¬under the microscope by reflected instead of transmitted light would occur to investigators. Sorby himself did it in 1864, and Adolph Martens and Floris Osmond may -be especially named among the many European workers who, by the late eighties, had so developed the, necessary techniques that they were able to photograph polished metal surfaces at magnifications as high

Jan 1, 1941

By D. R. Cook

This paper is a case history of an exploration venture for base metals, begun by the Rocky Mountain District of Bear Creek Mining Company in 1952 and completed in 1954. The project was based on the idea of W. S. Burbank, U. S. Geological Survey, that commercial deposits of base metals might occur in Paleozoic sediments beneath hydrothermally altered volcanic rocks in the Southern Bonanza mining district, Colorado. Here, an area of andesitic rocks, four square miles in extent, has been argillized, pyritized, chloritized and silicified. Geological, geophysical and geochemical studies were followed by the diamond drilling of three holes totalling 6,220 feet. Further alteration ang geochemical studies were made on the cores from these holes. A brief review of the alteration and geologic mapping, colored aerial photograph interpretation, geochemical soil and rock sampling, magnetic, gravity and radio-metric surveys are presented together with some conclusions regarding this work. This paper is a case history of an exploration venture for base metals, begun by the Rocky Mountain District of Bear Creek Mining Company in 1952 and completed in 1954. Important contributions were made to the project by personnel of the Rocky Mountain District and the Geophysics Division. Individual acknowledgements to these people are made at the end of the paper. BASIS FOR THE PROJECT The project was based on the idea of W. S. Burbank (1947, p. 444) that commercial deposits of base metals might occur in Paleozoic sediments beneath hydrothermally altered volcanic rocks in the Southern Bonanza mining district, Colorado. Paleozoic sedimentary rocks, including the favorable Leadville limestone, are exposed three miles south of the altered area, and reason exists to believe that they might underlie it within a reasonable depth. Alteration of pre-mineral volcanic rocks has been used successfully as a guide to concealed orebodies in the Main Tintic and East Tin tic mining districts, Utah (Bill-ingsley, 1933, p. 120-122; Lovering et al, 1949; Howd, 1957, p. 124-134; Cook, 1957, p. 73) and could be a useful guide here. GENERAL GEOLOGY AND STRUCTURE The Northern and Southern Bonanza mining districts are northwest of the San Luis Valley in southern Colorado, just within the northeastern edge of the San Juan volcanic province. The districts are1ocated on the southern extension of the Sawatch uplift, a prorninent northwest-trending structural high. The highly productive mining camp. of Leadville, Gilman and Aspen are on the northeastern and northwestern flanks of this uplift where Paleozoic limestones have

Jan 1, 1961

By Y. Nakamura, T. H. Okabe, S. A. Sunkar, K. Nose

Ruthenium (Ru) is known as a platinum group element with a very small production volume. In fact, the worldwide annual production of primary Ru metal is only about 20-30 tons, and it depends on the amount of Pt produced, since Ru is a byproduct from Pt smelting. The primary uses of Ru are as a material for resistors, as a catalyst for electrode materials, and as a sputtering target for hard disk memory storage. In order to recover Ru from the spent sand-blasting abrasive media generated during the cleaning of the apparatus used for Ru sputtering, a hydrometallurgical recovery process using hypochlorite solution has been investigated. In this study, various types of recycling processes that are presently under development are also introduced, and their features and differences are discussed. The advantages and disadvantages of the new recycling processes are evaluated, and the possibility of establishing new recycling processes in the future is discussed from a multilateral perspective.

Jan 1, 2014

By C Thompson, D Connelly

The history of mill liners has evolved over time and this paper tracks the changes and development of liner technology. It provides an overview of the primary types of liners, the design and the materials of construction. The design of a mill liner is driven by application, materials of construction, casting technology and handling issues. The choice of solid steel, grid liners, rubber or composites and magnetic liners is based on many factors.The methods used for monitoring wear and predicting eventual change out time are many and varied. The contribution of discrete element modeling (DEM) analysis in predicting wear profile is discussed.Mill trajectory and DEM software programs are used with great effect to predict the effect of lifter height, face angle, high low lifters or mill speed. In the field, trial and operational experience is used or improvements/design concepts at one operation are applied to another. Broken mill lifters, accentuated wear and other problems can be better understood using hardness testing, chemical analysis and photo micrograph analysis of pearlitic or martensitic structure along with fracture face observations. This forms a part of the typical root cause analysis. However given correct and sound liner and lifter, feed and discharge design media selection, and materials of construction, the majority of premature liner or bolting failure is normally attributed to incorrect operational methods such as excessive high ball to feed ratio, incorrect mill speed relating to lifter ball throw, incorrect media selection, "tramp" material entering the mill charge from upstream or recirculating process and understanding the specific mill operation in question.It is hoped that this paper will benefit mill operators who are faced with challenges of improving wear life and at the same time optimizing mill throughput and performance.CITATION:Connelly, D and Thompson, C, 2013. The selection design and application of mill liners for large wet grinding mills, in Proceedings MetPlant 2013 , pp 133-140 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By A. E. Hall, R. N. Taylor, J. G. Taylor

The introduction of tunnel-boring machines to South African gold mines has created problems and challenges which accompany any new technique. This paper describes the experience gained in this field, especially in the design and erection of a tunnel borer and in boring and environmental conditions.

Jan 1, 1978

By D. Millgard

Dennis Millgard introduced the Session by hoping that participants to the Conference would also share their piling problems. He then invited the first speaker to present his paper. Paper 5.1. Pat Kelleher commenced by saying that he belonged to a one hundred year old firm that had experience in the New York Harbour area. They were often asked to assess the integrity of many waterside structures such as piers, walls, and docks which were deteriorating whilst still in use. The earliest structures, built in the 1800's, were on timber piles. These have now changed to Steel H and tube piles and concrete piles. Usually they were called in when the structure was showing signs of distress, or had reached the end of its life but could not be closed. In particular, they had found that marine borers had returned to New York Harbour because of the improved quality of the water. There is now a far greater incidence of attack on the timber piles than when the water was polluted. Repair is usually carried out by encapsulating the pile within the tidal range of about -2ft to +8ft (-0.6 to +2.4m). Reinforced concrete forms, reinforced fibre jackets, or nylon bags are used. Reinforced fibre jackets are used with a protective coat on the pile, while nylon bags prove the cheapest method.

Jan 1, 1991

By T. Lux, M. Hanel, Degel, A. Filzwieser, R., H. Joubert

It is the increasing demand for an economic and cost saving operation mode that requires effective cooling in order to achieve low refractory wear and good furnace lifetime, which is making cooling technology an important aspect of furnace operation. In addition, the requirements for safety are getting more and more into focus. However, the use of water—today’s standard cooling medium—has major drawbacks as it can cause problems both during furnace start up and operation, namely hydration problems, corrosion, and explosion. Not to forget the severe risks for the operators as well as economical damage in case of a malfunctioning water cooling system. With this new and patented cooling technology ILTEC and the ionic liquid IL-B2001 as the cooling medium, it is possible to realise a water-free cooling solution and therefore the door is wide open to rethink existing and conventional cooling solutions. Furthermore, there is also the chance to recover heat from the process in a more efficient way. However, since the technology is novel and unique there are a lot of concerns and doubts regarding safety for plant operators and employees. The paper is intended to cover both: highlighting the enormous potential of the technology but also to eliminate concerns mainly caused by rumour and unawareness. INTRODUCTION All of us are aware of the risks when water is used as a coolant and placed in the vicinity of the liquid metal phase. Unsuitable design solutions or wrong operation modes of the furnaces or failures of refractories can cause a direct contact of water with liquid metal. The consequences can lead to equipment failures, vessel destruction but even worse to injuries and even fatalities. Over the past decades, countless incidences were reported. Fatal accidents caused by water coming into contact with liquid metal happen every year (Oterdoom, 2014; Filzwieser, Konetschnik, Filzwieser, Wallnerm & Preiss, 2014). With the novel ionic liquid cooling technology virtually all negative effects of a water cooled system regarding safety are eliminated and even additional benefits can be provided (Voermann, Ham, Merry, Veenstra, & Hutchinson, 1999;Verscheure, Kyllo, Filzwieser, Blanpain & Wollants 2006; Wallner, Filzwieser & Kleicker 2006). The fact that no explosion occurs when IL-B2001 gets in contact with molten metal results in a revolutionary solution for the metallurgical industry in terms of safety—new safety standards can be achieved.

Jan 1, 2019

By Ma Lijuan, Zhang Yubing, Wang Bo, Sun Huilan

The effect of lime ratio on phase composition and alumina leaching property of MgO-contained calcium aluminate clinker were investigated by analytical reagent, the XRD analysis of its mechanism was discussed. The results showed that: when the sintering temperature was 1350 ℃, C/A was 1.4, A/S was 1.3 and the content of MgO was 4%, the increase of the C/A promoted the formation of C12A7 and restrained the formation of Q-phase. The alumina-leaching ratio of the clinker (A/S was 1.3) was increased from 74.33% to 91.34% when the content of CaO was 5.21%.

Jan 1, 2015

By S C. Dominy

The gravity recoverable gold (GRG) parameter reflects liberated gold or gold-dominated composite particles that can be recovered by gravity separation. Recoveries depend upon mineralogy, in situ particle size and the comminution and extraction method used. Any ore bearing >15 per cent of gold greater than 50 ¦m in size is likely to have a GRG component. The principal characterisation methodology applied is the three-stage GRG (3GRG) test, based on a 40 kg to 100 kg sample. An alternative is the single-stage GRG test (SGRG), which is generally based on a 20 kg sample. Experience has shown that GRG values can vary throughout an orebody, particularly within different grade and/or mineralogical domains. Test programs must consider sample frequency and mass. This study demonstrates the variability of GRG results based on different sample masses. Consecutive underground faces on a coarse-gold dominated quartz vein were sampled taking five different masses from each. Each sample was processed using a SGRG approach. Subsequently, each development round was batched through a small gravity production plant. The results show that the small samples understate the plant GRG and show inter-sample variability. Large samples show less variability and a SGRG closer to the plant GRG. A high SGRG broadly correlates to higher gold grades, more coarse gold and larger gold particles. These results are intuitively correct, but indicate the likely challenges of sampling for gold recovery in heterogeneous systems.CITATION:Dominy, S C, 2013. Variability of gravity recoverable gold values in relation to test sample size, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 293-302 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By William Van Impe

A most renewing and promissing soil displacement screw pile is called the O-pile. The O-screw pile is a soil displacement auger pile based on a screwing in - screwing out procedure. The displacement auger head consists of a discontinuously diameter - increasing steel tip, on top of which the continuous screw flange with variable pitch is mounted. The soil displacement is kinematically ensured by downwardly oriented slots mounted on the auger head at different well chosen locations on the flanges. This leads to a very efficient lower energy screwing-in sequence of the pile and consequently to a high penetration rate. A test loading program of instrumented O-piles has been carried out in order to evaluate the load settlement behaviour, the shaft and tip capacity of the O-pile, including its specific installation parameters.

Jan 1, 1996

By B. R. Zernich

Advances in tunneling technology, such as Earth Pressure Balance and Slurry Shield methods, have allowed the tunneling industry to construct tunnels in increasingly difficult ground conditions. In recent years, a number of civil projects including large diameter train tunnels, subway tunnels, water tunnels, sewer tunnels, and combined sewer tunnels have been successfully completed deep beneath the water table in soft ground conditions utilizing modern day Tunnel Boring Machines (TBM). With the increase in difficult ground conditions and higher water pressure comes the inherent need to utilize compressed air to gain access to the TBM?s cutterhead and cutting tools. This paper focuses on one such instance in Los Angeles, CA in which Traylor Brothers Inc. performed a cutterhead intervention by compressing the heading of an 11-foot diameter tunnel to approximately 3 bar gauge pressure. This paper focuses on the environmental controls used to manage ventilation, oxygen levels, temperature, and pressure, as well as discusses the problems associated with toxic gases and the increased risk of fire. The paper will also cover the physical science of the environment and the increased risks of performing basic job functions while in a compressed air heading.

Jan 1, 2009

By Robert R. Perron

The U.S. Bureau of Mines is engaged in many diverse programs fur improving mine safety. One area of interest to the Bureau is new and improved means for minimizing the hazards of accidental gas ignition or electrical shock should the frame of an off-track machine assume potential above ground. Various means presently used to prevent such occurences are the use of ground fault detectors for phase to ground faults in ac machines, and grounding conductors and diodes in dc machines. In a three phase ac power center, a phase to ground fault may be detected by monitoring the current in the grounding resistor which is required between the power center neutral on the load side of the power center transformer and ground. Another method for detecting a ground fault is to pass the three load conductors through a toroidal core transformer. The phase currents vectorially add up to zero if none of the phases are faulted, and hence the voltage of the transformer secondary is either zero or not zero if one of the phases is unbalanced or faulted.

Jan 1, 1976

The case study has identified and characterised additional subsidence arising from longwall mining above or under existing longwall goaf. It suggests that the magnitude, mechanisms and prediction methods for such additional subsidence are different between the two mining configurations. This paper presents a proposed method to predict maximum vertical subsidence due to longwall mining under existing longwall goaf. It suggests that, unless different results from further new cases become available, the findings presented in this article, including the aforementioned prediction method, be applicable to the majority of sites in New South Wales, where multi-seam longwall mining is to take place. This article also presents an important concept of 'overburden modification' due to multi-seam mining. A causal relationship between the above-mentioned additional subsidence and 'overburden modification' has been identified as a result of the case studies. Further investigations into the physical processes that cause such overburden modification will be fundamental to the understanding and management of multi-seam subsidence.

Nov 25, 2010

When the Organic Act of 1910 established the Bureau of Mines within the Department of the Interior, the Bureau's programs involved only health and safety research and education, and fuels testing. As the Federal Government's primary agency for research in minerals, the Bureau has expanded its scientific and technological investigations to mining, processing minerals substances, eliminating occupational health and safety hazards in the mineral industries, economic development, and resource conservation. Today, Bureau activities cover a broad spectrum of programs for meeting the diverse (and sometimes conflicting) needs of mineral industries, government, and the public. In the 1960's, the Bureau initiated programs to resolve environmental problems associated with past mining and mineral processing. In the 1970's, the energy crisis raised the national consciousness concerning our limited supplies of domestic mineral and fuel resources. Dependence on foreign sources of raw materials critical to our national economy and competition from other countries for these world supplies stimulated the need to conserve and use with intelligence the Nation's minerals, metals, and fuels.

Jan 1, 1976

By C. Beul, R. Schipper, L. Santisteban

The Garfield Mine is a legacy vanadium mine in western Colorado with multiple mine openings, waste rock piles, and adit seepages that Cyprus Climax Metals Company (a Freeport-McMoRan Inc. subsidiary) voluntarily remediated through the Colorado Voluntary Cleanup Program (VCUP). The process to obtain a No Further Action determination from the VCUP is presented. Water treatment of the adit discharge, which is not part of the VCUP, is also presented. The remedial action objectives (RAOs) included preventing direct human or biotic exposure to the waste rock and radiation emitting from the waste rock; reducing metal concentrations and radionuclide activities in adit discharge and keeping the discharge from leaving the site; maintaining the existing undeveloped character of the surrounding landscape; and eliminating the need for a stormwater permit. The design included regrading, installation of an infiltration barrier and rock cover, a diversion channel, and a biologically based passive remediation water treatment system. An initial lab-scale evaluation provided design criteria for the full-scale system, which consists of a sulfate-reducing biochemical reactor and post-treatment aerobic polishing cells. The system has been operational since construction was completed in late 2016. Results indicate that the treatment objective of 90% bulk removal of constituents of potential concern (COPCs) is largely being met. The system also provides year-round operation and non-point discharge of effluent. After 20 plus years of site investigations, the remedial action was completed in 2016 with all RAOs met and a No Further Action determination granted in 2018. INTRODUCTION The Garfield Mine is a legacy vanadium mine located approximately 11 miles north-northeast of Rifle, in Garfield County, Colorado. It was leased and operated intermittently from 1929 to 1975 but was never operated by Cyprus Climax Metals Company (Cyprus) (a Freeport-McMoRan Inc. subsidiary). Prior to reclamation, site features included: • six mine openings—five adits and a vertical opening; • two adits discharging mining-influenced water (MIW)— Adit 1 at less than 4 liters per minute (L/min) and Adit 2 at 7 to 10 L/min; • main waste rock pile (13,500 m3) and small waste rock pile (minimal volume); • debris (small structure, mattress, bottles, shells, etc.) indicating site used for recreational purposes; and, • unimproved road, which has been used to access forest fires.

Jan 1, 2019

By A. Lane

The socio economic risks of mining in South Africa have been emerging for some time now, and have been brought into sharp relief by recent events in the platinum sector. The slow pace of social upliftment in the country has lead to widespread social unrest with consequent calls for different forms of resource nationalism. Fundamentally, the key stakeholders are not fully aligned, and are not engaging productively. This poses significant above-the-ground risk to mining companies. Measuring social impact, deploying inclusive solutions and engaging effectively with stakeholders are three ways in which mining companies can mitigate this risk.

Jan 1, 2012

By R. J. Watson, A. H. Juch

About half a million sucker-rod pumps are installed in oil wells in the U. S. alone. In Venezuela, too, the system is widely used; some 5,000, or 90 percent, of Cia. Shell de Venezuela's wells produce a total of 400,000 BOPD by this method. Most of the crude pumped is viscous, gassy and contains relatively small amounts of free water. API gravities vary from 90 to 16O; dead oil viscosities vary from 10 to 10,000 cp at the pump; and GOR's range from 100 to 2,000 cu ft/bbl. Pumps are set at depths ranging from a few hundred to 6,000 ft; the average setting depth is about 2,500 ft. From the literature, it appears that although recent years have seen significant progress toward understanding the rod pumping system as a whole, relatively little attention has been paid to those key items, the sucker-rod pump and the subsurface gas separator or gas anchor. Perhaps because of proration in the U. S., pump manufacturers have seemingly concerned themselves more with the durability of their product, achieved mainly through robust design and metallurgical know-how, than with its working efficiency. In 1963, CSV commenced a major rehabilitation and expansion of its heavy oil fields along the Bolivar Coast. The advent of the more efficient gravel-packed completion and of large-scale thermal recovery (mainly steam soak) operations resulted in well potentials *Now with B. I. P. M., The Hague, The Netherlands. greater than pump capacities. Hence, an urgent need arose to improve over-all pump efficiencies and to attack those special problems related to the production of both the extremely viscous and the hot, steam-laden crudes that formed an increasing proportion of the total stream. There followed a detailed investigation and testing program, carried out in close cooperation with a major pump manufacturer. This culminated in the introduction to the oil industry of a new line of sucker-rod pumps. Early Investigations and Experiments Field Tests Extensive field tests were carried out in three primary Bolivar Coast wells with an in-situ dead oil viscosity ranging from 400 to 6,000 cp. In these installations provision was made to (1) monitor bottom-hole pressures below, in and above the pump by means of pressure transducers, and record casing- and tubing-head pressures continuously; (2) measure accurately the annulus gas, as well as measure the tubing gas and liquid production from the well; (3) take special PVT samples of the well fluid; (4) measure power consumption of the prime mover; and (5) measure the rod loads at the polished rod. A typical test installation is illustrated in Fig. 1. It was established from the pressure transducers that with viscous oils, there is considerable flow resistance across the pump and gas anchor assembly. Pressure surges were observed over each pump cycle,

Jan 1, 1970

By S. H. Ash

IN no part of the world other than a small area in Pennsylvania is anthracite mining an industry of major magnitude. As the deposits of anthracite in the United States are limited virtually to Pennsylvania, the difficulties of this industry have been commonly considered a state rather than a national problem. However, there is also national interest in the conservation and wise utilization of all the country's fuel resources and in the control of interstate waterways. The anthracite industry is confronted with a serious problem of water accumulation in many of the mines, a problem that must be solved in the near future if progressively higher mining costs are to be avoided. It cannot be solved by the operating companies without state or Federal aid, or both, owing to the magnitude of the work required, the diversity of interests of the coal and surface ownerships, the hazard to the whole mining community, and interests affected outside the mining region. 'The costs of abating the ever-increasing surface seepage to mine workings and of handling this seepage once it has occurred are beyond the eco¬nomic resources of the operating managements.

Jan 1, 1941

By Donald R. McMahon

This paper presents a unique case history that documents the use of a braced secant pile wall to underpin a heavily loaded footing inside of a manufacturing plant. Construction of a pit for a new manufacturing process directly next to the footing necessitated the underpinning. The footing supports an overhead crane that needed to remain operational throughout construction of the pit and therefore, settlement of the footing could not be tolerated. The base of the footing was about 7.7 feet above the base of the 17-foot deep excavation. The footing bears on a silty clay deposit that grades from a stiff consistency beneath the footing to a soft/medium consistency near the base of the pit excavation. This paper describes the design and construction of the secant pile wall and bracing to control wall deformations, ground movements and settlement of the footing. The footing was monitored for settlement throughout construction of the pit and no measurable movement was observed.

Jan 1, 2006