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By M. R. Samis

The great variability of mineral and energy prices has motivated some governments to incorporate a windfall profits tax into their mineral taxation regimes. Windfall profits taxes are a means for governments to capture additional mineral revenue when mineral prices are considered higher than some historic level. Governments need to be aware of the effects of such contingent taxes on the exploration, development and operating decisions of mining companies. Mining companies need to be able to calculate the full impact of windfall profits taxes on the economics of their projects. This paper examines the valuation of a multi-phase copper-gold project in the presence of a windfall profits tax. Real options Monte Carlo simulation is used to characterise the different exposures of the mine owner and of the government to the risky cash flow streams that they receive from the project. The results highlight that Monte Carlo simulation paired with the real option valuation method is able to account appropriately for the differing risk exposures, while the traditional discounted cash flow valuation model is not. Our key conclusion for governments and mining companies is that the impact of contingent tax and royalty terms can and should be assessed using advanced valuation techniques, and the results used to improve contract designs under the constraint of actual and perceived fiscal system stability.

Jan 1, 2007

Allis Mineral Systems ARCO Coal Company Buckley Powder Co. CALCO, Inc. Coal Magazine Colowyo Coal Company Continental Conveyor & Equipment Company Crane & Hoist Sales Cummins Southwest, Inc. Energy West Mining Company Paul J. Epley FMC Corporation The Falkirk Mining Company Fleischli Oil Co., Inc. T. J. Gundlach Machine Company Halbach & Braun Harnischfeger Corporation Hemscheidt Corporation Hyatt Regency Beaver Creek Jennmar Corporation Joy Technologies, Inc. K&P Sales Engineers, Inc. Kennametal, Inc. Kerr-McGee Coal Corporation McLanahan Corporation National Coal Association The North American Coal Corporation Northwestern Resources Company Peabody Coal Company Phillips Machine Service, Inc. Pincock, Allen & Holt, Inc. Pittsburg & Midway Coal Mining Co. Roberts & Schaefer Company Rust Tractor Company Salt River Project Santa Fe Pacific Coal Corporation Schroeder Industries Shearson-Lehman Brothers Southern Pacific Transportation Stamler Corporation Trapper Mining Inc. Wagner Equipment Company Western Energy Company Wheeler Machinery Company

Jan 1, 1992

By Jos. R. Guiteras

This paper is one of a series published by the Bureau of Mines on mining and milling methods and costs. It describes operations in the Alma district of Colorado in September 1937, supplemented by some additional data collected in July 1938. ACKNOWLEDGMENTS The author wishes to express his appreciation of the friendly cooperation extended him by the mine operators in the district. The greater part of the information was obtained from mine and mill superintendents to whom individual acknowledgment is made in the text.

Jan 1, 1940

By Zhibao Li, Kunming Zhai, Yan Zhang

The hydration kinetics of MgO, namely magnesia or magnesium oxide, obtained by calcination of magnesite MgCO3 or synthetic MgCO3·3H2O has been studied. Nesquehonite (MgCO3·3H2O) was prepared by the reaction of MgCl2 with Na2CO3 in a mixed-suspension mixed-product removal (MSMPR) crystallizer at 40 °C. Three magnesium oxide samples were obtained by calcination of magnesite MgCO3 or synthetic MgCO3·3H2O in muffle furnace at 900, 1100 and 1300 °C for 3 h, respectively. The hydration experiments of MgO samples were investigated at 25, 35 and 45 °C for 24 h in a stirred batch reactor. The hydration results indicate that the rate and extent of hydration of magnesia decreased remarkably with hydration temperature and increased with decreasing calcination temperature at a constant hydration temperature. The whole hydration reaction of magnesia was supposed to experience the promotive period and declining period. An empirical kinetic model ( k t p -?ln(1-??) ??) and a modification of the classical shrinking core model for diffusion control ( k t b d -?-?3 2 ????1 [1 (1 ??) ] ) have been applied to fit the experimental data of hydration in two stages, respectively. The values of kinetic parameters ( p k and d k ) were obtained by regression analysis and the activation energy of the sample at 900 °C was estimated to be 34.23 kJ/mol. The comparison between MgO from calcination of synthetic MgCO3·3H2O and a commercial MgO used in silicon steel production was carried out, indicating that special silicon steel grade MgO can be obtained by calcination of MgCO3·3H2O below 900 °C.

Jan 1, 2014

By Steve Kral

Competition from foreign coal producers could displace as much as 9 Mt/a (10 million stpy) of US coal bound for power plants located near waterways. But, according to a Maryland-based coal consultant, it could be worse. Theoretically, about 52 Mt (57 million st) of domestic coal could be vulnerable to imports by 1990, said Forrest Hill, of Hill & Associates of Annapolis. Hill was speaking to about 150 coal industry executives and experts at the third annual Coal Marketing Strategies Conference in November. Most were at the Denver, CO conference to pick up tips on how to sell coal in an oversupplied market. Imports threaten domestic markets Of the 200 utilities studied by Hill and his staff, 119 are situated near major waterways, he said. However, most of those waterways are not equipped to handle coal from the shipping lanes. Good news for US coal producers. But don't breathe too easily. Foreign coal still poses a major threat to domestic markets, Hill continued. The strength of the US dollar is an obvious factor. But easy access to US utilities located on waterways combined with low rates for ocean vessels give foreign producers another edge. And foreign mines are typically low cost producers. For example, Hill said Colombia's huge Cerrejon mine can deliver coal to an Illinois power plant for $47.87/t ($43.39 per st). That compares to $52.85/t ($47.95 per st) from a Kentucky coal mine. Also, Colombian coal producers can generate a cash flow even if the coal sells for $27.50/t ($25 per st). The main competition US producers face from abroad, as Hill sees it, comes from Australia, Canada, Colombia, Poland, South Africa, and, perhaps, from Venezuela. Domestic producers, however, do have some things going for them. Most US coal buyers, Hill said, "are not wild about the idea of buying foreign coal." A 10% price advantage or pressure from public utility commissions would be needed to force some of them to buy foreign coal, he said. Some of the utilities contacted said they would not commit to more than one-third of their stockpiles to a foreign source. Another advantage for US producers is that they have room in their long-term contracts to cut prices and still maintain a profit, Hill said. Railroads, too, have high profit margins written into their rate structures. They are also aware of the import threat. Therefore, they may reduce their rates accordingly to keep their markets. Marketing's role The energy price shocks of 1972 and 1976 caused major adjustments in world economics. Coal was no exception. High oil prices caused many utilities to look at less expensive coal. As the market improved, coal prices began to respond, said R. Gale Daniel, of Anaconda Minerals Co. But clean air legislation and the strengthening dollar caused havoc in the coal markets, he said. The price of oil crashed, taking with it predictions of record coal use. The result is an oversupply of coal that has led to price cutting. Now, coal marketing must be recognized in its "true leadership role," Daniel said. Marketing people must know when to use spot sales to balance production objectives and maintain cost-effective-

Jan 1, 1986

By Dale Preece

A carefully designed and controlled in-place destruction experiment was performed on a concrete bunker buried in 4.27 m (14 ft.) of soil. The objective was to determine if the explosive charges would collapse the structure in-place without requiring mechanical excavation. Collapse of the buried structure was first attempted by drilling holes in the soil and placing four 13.38 Kg (29.5 lb) Comp B explosive charges at a depth of 2.13 m (6.7 ft.). The configuration of the charges when detonated was 2.13 m (6.7 ft.) off the top of the concrete roof and 3.66 m (12 ft.) apart in a square pattern. Detonation of these charges created a crater ~4.88 m (16 ft.) in diameter and 2.13 m (6.7 ft.) deep, leaving ~2.13 m (6.7 ft.) of soil covering. Very limited spalling occurred on the ceiling of the concrete structure as a result of detonating these four charges. The second attempt to collapse the structure consisted of placing another single 13.38 Kg (29.5 lb) charge, identical to the first four, near the geometrical center of the bunker roof. This charge was detonated in the soil cover 100 to 200 mm (4 to 8 in.) above the reinforced concrete roof, collapsing it. Due to the collapsed roof and remaining soil cover, the structure had been collapsed in place, requiring no further demolition.

Jan 1, 2006

By S. H. Brown

In our work as health physicists*, we do a lot of public speaking and interaction with the public on issues related to development of uranium mining and milling (?uranium recovery?) in the US. Understandingly, the public has important concerns about this. Accordingly, this paper is presented in a ?question and answer? format in which we have tried to capture what are some of the most common concerns we hear from citizens and address them. We have attempted to do so based on the best scientific information we have, representing information well documented in peer-reviewed scientific literature and consensus positions from both national and international scientific standard setting bodies and related committees. We have included some of the more important of these scientifically-based references to support the information provided. Practical space limitations prevent completeness in this regard in some cases. Visit the Health Physics Society?s web site or feel free to contact me directly for additional references, information or detail ? Steve Brown. The health physicist?s primary objective is to manage the beneficial uses of ionizing radiation while protecting workers and the public from potential hazards. For more information on what a health physicist is and on the Health Physics Society, visit the Society?s web site at www.hps.org.

Feb 23, 2014

By Masaki Kitazume

"Abstract The wet type and dry type of deep mixing methods have been developed and widely applied for on-land and marine constructions in Japan. The quality assurance (QA) of the methods has been usually carried out by unconfined compression test on field stabilized soil sampled by core boring in Japan. In some other countries, stabilized soil excavated by the wet grab sampling instead of core sampling is often subjected to unconfined compression test for quality assurance. There are several merits and demerits in each method, but few studies have been carried out to compare the stabilized soil strength of these two types of specimens to discuss their applicability to practical construction. The author has conducted a series of field and laboratory tests to compare the stabilized soil strength and discuss the applicability of wet grab sampling to QA for wet and dry types of deep mixing method.In this study, the wet grab sampling was carried out at two road embankment construction sites where the wet type and dry type of deep mixing were applied. The cement stabilized soil was excavated at the three depths by a wet grab sampler soon after the DM column construction. The test result is compared with the other test data in the previous study to discuss the applicability of the web grab sampling method for QA of cement stabilized soil.IntroductionThe Deep Mixing Method (DMM), an in-situ soil stabilization technique using cement and/or lime as a binder, is often employed to improve soft soils (Kitazume and Terashi, 2013). A variety of factors and their interactions affect the eventual strength of a deep-mixed column, while some of which are controllable (e.g. binder type and dose) by engineers while the others are not (e.g. soil types, ground temperature, etc.; Babasaki et al., 1997). In addition to laboratory mix tests, which in essence are a parametric study to estimate the influence of these factors on a particular soil’s strength, the quality assurance (QA) practice in Japan usually involves unconfined compression test on sampling cores from the stabilized columns after a given curing period. It has been recognized, however, that the ‘field strength’, or the strength of the retrieved core, quf is on average lower than the ‘laboratory strength’, qul, evaluated by laboratory mix test. Also allowing for the inevitable variability, existing guidelines (for example, PWRC, 2004 and CDIT, 2008) recommend the design quf /qul values of, for example, 0.5-1.0 for the CDM (Cement Deep Mixing; a wet-type technique, in which binder is added as slurry) and 0.2-0.33 for the DJM (Dry Jet Mixing; a dry-type technique, in which binder is added as powder)."

Jan 1, 2014

By Timothy C. Siegel

Accurate representation of the geotechnical resistance distribution is critical in evaluating the performance of piles and pile groups for design. A current practice is to infer the geotechnical resistance distribution based on measured changes in strain during conventional top load pile testing. Especially for drilled and bored piles, the residual load is typically assumed to be negligible both during testing and after the application of the structure load. A practical result is that the compressive structural load is anticipated to be opposed primarily by the shaft resistance with little or no mobilized toe resistance. The predicted top deflection is estimated as the combined elastic compression plus the movement necessary to mobilize shaft resistance. The development of residual load (and associated negative skin friction) results in a significantly different design condition. Negative skin friction tends to force the pile into the ground and develops residual load in the pile that contributes to the internal compressive load. Significant toe resistance can be mobilized in order to resist the combination of negative skin friction and the sustained compressive load. The pile movement becomes a function of the toe penetration required to mobilize sufficient resistance to reach a balance of forces. In an effort to study the development of residual load in augered cast-in place (ACIP) piles, the authors installed and monitored strain gages that were embedded in an 18-inch diameter ACIP pile at a site in southeast Georgia. The results of this study indicate that residual load develops over time and reaches a distribution that is consistent with the principles of the unified design of piles. It is concluded that residual load develops in ACIP piles (as well as all drilled and bored piles by the same mechanisms) and that the residual load should be considered in the interpretation of load tests and in the pile design, particularly in the estimation of the single pile and pile group settlement.

Jan 1, 2009

By Madgwick J. C, Ralph B. J

A method for the determination of microgram quantities of uranium in leachates from low grade uranium ores is described. Solubilized manium is purified by transfer to an organic solvent by a selective solvent extractionprocedure using tributyl phosphate, iso-octane, and aluminium nitrate. The organic phase is mixed with scintillation fiuors in toluene and the radioactive decay determined in a liquid scintillation counter. The method is sensitive and reproducible in the range 3-30 µg uranium.

Jan 1, 1978

Modem mineral exploration and development takes place within a data-rich context underpinned by a wide range of data acquisition, processing and interpretation technologies. This leads to requirements for consistent and explicit methods by which the relative risks - or success probabilities - of exploration programs can be assessed and communicated. Bayesian risk assessment methods are outlined which provide a starting point for this more rigorous approach to exploration investment.   Effective governance of information technologies becomes a core function of the modem competitive Board. As such it becomes a component of any business audit and any assessment of the quality and success potential of a company. Limited data however suggest that the average Board may be under-represented in this increasingly critical skill area.

Jan 1, 1997

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 J. G. Haymes

This report by the Bureau of Mines is the first of two proposed papers on evaluation of spectrophotometric, spectrographic, polarographic, and other analytical methods for quantitatively determining impurities in high-purity tungsten. Some of the methods described are standard methods that have been successfully applied to determine low-level impurities, several are modifications of known methods, and some procedures are entirely original. The Bureau of Mines is actively engaged in tungsten research because tungsten has an extremely high melting point, in fact the highest of any known metal. The metallurgist must know the content of impurities in tungsten because of the marked effects even micro amounts of impurity elements have on its physical properties. The Bureau procured a number of analyzed samples of above-average purity from research laboratories of companies engaged in production and fabrication of tungsten. These samples were investigated by the analytical procedures of those companies for several metallic impurities. Subsequent analytical laboratory determination of impurities in these samples agreed with the analyses as reported. With this assurance that analytical methods were basically accurate for metallic impurities, procedures for the determination of several of these elements were modified to lower the limits of detection and increase the sensitivity of methods. Carbon and the gases hydrogen, nitrogen, and oxygen were determined by standard instrumental methods, modified to provide greater sensitivity for reliable determinations when content of these elements was low. After the reliability of the modified procedures was affirmed, they were used as a product evaluation guide in the development of a vapor-plating technique for the production of high-purity tungsten. The following list of elements can be determined by one or more of these methods: AI, B, Be, Ca, Co, Cr, Cu, Fe, Mg, Mn, Mo, Ni, Pb, S1, Sn, Ti, V, and Zn. In addition, a vacuum-fusion method for the determination of H, N, and 0, and a conductometric method for carbon are described. Lower limits of determination and detection for each element listed are given.

Jan 1, 1962

Analyses of scheelite from all the known scheelite fields in the South Island of New Zealand have shown that the scheelites are essentially molybdenum-free. The scheelites are almost stoichiometric CaWO4, except for some strontium replacing the calcium, with a maximum of 0·92 per cent SrO. Variation in strontium content appears to be' related to the metamorphic grade of the enclosing rocks.

Jan 1, 1970

By R. R. Sayers

Although the attention of those interested in diseases peculiar to mining as teen focused recently on one duct disease - silicosis - other respiratory diseases may cause more suffering and economic loss. The increased incidence of these diseases usually is attributed to exposure to abnormal air conditions underground, such as sudden changes from high to low temperatures, excessive dust, and noxious gases. The principal respiratory diseases to which the mine is subject axe bronchitis, influenza and pneumonia, pulmonary tuberculosis, anthracosilicosis, and. silicosis. Although the mortality statistics in some of the tables included in this paper are old they have been corroborated by later, lees complete data Bronchitis Bronchitis is en inflammation of the bronchial tubes due, among other causes, to the inhalation of irritants such as dusts (organic and inorganic). Occupations that entail exposure to atmospheres polluted, by irritating gases carry with them the risk of bronchitis. According to Collie (1), it cannot be distinguished clinically from bronchitis occurring among the general population, and its association with tae inhalation of dust or gases usually is unrecognized.

Jan 1, 1941

By R. Simonson

Agenda ? Need and Introduction ? Interface Management Programs ? Outcomes of Successful Interface Management ? Key Success Factors ? Lessons Learned ? Concluding Remarks Need for Interface Management ? Complex projects ? Larger in scale ? Physically dispersed and delivered remotely ? Involved with several stakeholders ? Risks thus imposed due to: ? Iterative and dynamic nature ? Large information flow ? Document revisions and information updates ? Related sources of Risk: ? Ineffective communication ? Poor work relationships ? Person to job mismatches ? Failure to clarify expectations

Aug 1, 2013

By S. M. Spottiswoode

The aim of the hybrid location method is to improve seismic event locations by reducing the effects of errors in the wave velocity of ray paths between each event and each recording site. We report on further enhancements made to the hybrid location algorithm, which is based on the double-difference method developed by Spottiswoode and Milev1and Waldhauser and Ellsworth2. The term ?double-difference? refers to the residuals between the observed and theoretical travel-time differences and are obtained using either picked arrival times or various measures of time differences obtained from waveform pairs. These residuals are minimized for pairs of earthquakes at each station while linking together all observed event-station pairs. An important enhancement is that the double-difference term uses the median arrival time residuals to reduce the effect of outliers on the system of equations. In addition, the hybrid locations are further constrained by considering events of known locations, in this case along lines of development blasts. We relocated some 20 000 previously located seismic events in the Driefontein 5E area; 5 800 of these events were considered to have been development blasts and we constrained their locations to lie on the straight lines joining about 2 150 survey pegs from the mine?s database. Relocated events were shown to distribute more closely around advancing faces than had been the case before relocation. Wave velocities from the development blasts show evidence of anisotropy.

Jan 1, 2005

Organization Place Date 1919 American Chemical Society Philadelphia, Pa. Sept. 2-6 National Assn. of Stationary Engineers Huntington, W. Va. Sept. 8 American Peat Society Minneapolis, Minn. Sept. 22-24 American Iron, Steel Electrical Engineers St. Louis, Mo. Sept. 22-26 American Institute of Min. and Met. Engineers. Chicago, Ill. Sept. 22-27 American Steel Treaters' Society, First Annual Convention Chicago, 111. Sept. 22-27 National Exposition of Chemical Industries.... Chicago, Ill. Sept. 22-27 National Safety Council Cleveland, O. Sept. 29-Oct: 2 American Foundrymen's Association Philadelphia, Pa. Sept. 29-Oct. 4

Jan 9, 1919

By E. H. T. Whitten

Fundamental principles of trend surface analysis are briefly reviewed. Recent analyses of several granite masses illustrate the method of estimating the quantitative regional composition and also variation trends. Mineralogi-cal, bulk chemical, and other quantitative variates can be employed. Such results should improve gravimetric surveys (etc.) relying on correction terms based upon estimated rock composition. For the first time realistic estimates of the mean composition of rock bodies can be made with the aid of trend components. Deviation maps hold promise for delimitation of disseminated mineralized areas. Deviations comprise residual "anomalies" after removal of trend components. In petrogenetic work such deviations have been shown to reflect local influences (e.g., contamination of magma by assimilation of xenoliths or country rocks of the envelope). Similarly, mineralization should be reflected as deviations standing out from background trends. Actual examples are given. Present results largely involved projection of data onto a horizontal plane, but if sufficient data are available use of three spatial coordinates increases accuracy for prediction in "unexposed" areas. Regression analysis shows that statistical correlations between variates for regionally distributed specimens are often strong (particularly with percentage data). Hence, in preliminary surveys more easily determined variates may sometimes be employed to gain first estimates of the distribution of components more economically significant. The sampling plan is of paramount importance. Unless a suitable sampling plan is devised and adhered to rigorously during collection of the samples, all subsequent analysis is liable to strong bias and to yield spurious estimates of the truth. For a wide variety of purposes it is becoming necessary to assess the quantitative composition and variability of rock masses and mineralized zones of various types. In petrology and petrography this is something of a break with tradition, because virtually all descriptions heretofore have been qualitative. Although vast amounts of qualitative data have been compiled, little is known about the quantitative behavior of rock components. However, if variability of rocks could be understood and expressed with sufficient accuracy, there would be considerable advantage to both economic and petrogenetic problems. For example, if, on the basis of a limited series of observations, the three-dimensional geometry of a disseminated orebody (or ore-bearing formation) could be predicted accurately, it would be possible to extrapolate with confidence the structure into unexposed areas. The following example based upon the geometry of an igneous cone sheet illustrates the point. The significant rock-unit gives outcrops at a number of points on the exposed surface ABCD (Fig. 1A). Study of n exposures may enable a geologist to predict that the rock-unit is circular in form and thus indicate where the unit can be expected in unexposed terrain. Such observations are made at sites with u, v coordinates, but, if subsurface information is available at sites with uvw coordinates, it will eventually become possible to predict accurately the three-dimensional form of the rock mass. Geologic rock masses or mineral deposits are not generally as regular and symmetrical in geometric form as the body illustrated in Fig. 1A. However, even where the broad limits of a major rock mass are known, a more acute problem arises in attempting to obtain detailed quantitative estimates of its internal variability; it is difficult to predict the variability of a mass from a limited number of observa-

Jan 1, 1961

By G. Hoffman

Sustainable development has brought social, environmental and energy efficiency concerns together with management and governance of natural resources. Cement manufacturing, an energy- and natural resource-intensive industry, is adapting to meet sustainable development goals. Emission standards for cement plants and increasing energy costs have lead to changes in the use of natural resources and recycled materials. Utilizing pozzolans or supplementary cementitious materials (SCMs) as mineral admixtures in blended cement or as a substitute for cement in concrete lowers energy costs and CO2 emissions. Although the western U.S. is rich in natural pozzolans, artificial products, particularly fly ash, have greater use as mineral admixtures. Pozzolans and SCMs have many beneficial properties, such as preventing alkali-silica reactivity, a common problem in the western U.S. Barriers exist for mineral admixtures in the cement and concrete industries because of past inconsistencies in quality or availability. New environmental regulations on the primary industries producing artificial mineral admixtures could adversely affect the quality and quantity of these materials in the future.

Jan 1, 2009