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"How Wall Street Darling Molycorp Undermined the U.S. Economy, Degraded our National Security and Distorted the Global Economic Balance and How These Falsehoods Continue to be Promoted Even Today INTRODUCTION & SUMMARY In 2007 the Molycorp Mountain Pass rare earth mine was resurrected from its desert-grave in California by its then-owner Chevron Mining. Responding to elevated rare earth prices Chevron began processing on-site rare earth concentrates left over from past mining operations that were terminated in 1998i. Chinese demand had sparked what was being described as a commodities super-cycleii. Commodity prices were on the move. Wall Street smelled opportunity. In 2008 Goldman Sachs, Pegasus Partners, Resource Capital Funds, Traxys North America LLC and Carint Group LLC acquired the mining assets from Chevron. In an environment of ever-declining ethical standards and regulatory consequences the private capital group and their investment bankers would bring Molycorp to market. Molycorp, with its high powered investment banking team of Morgan Stanley and J.P. Morganiii, easily dominated the contest. Molycorp promoted itself, largely based on its past operating history and proven reserves, as the best company to challenge China’s monopoly control over the production of rare earths: a group of elements critical to most advanced technologies and U.S. defense systemsiv. Most of Wall Street’s hottest investment sectors were dependent on these materials: alternative energy, green technologies, computing, personal communications, advanced electronics and defense systems. By late 2010 there were dozens of prospective rare earth start-up ‘mining companies’ seeking capital. Eventually the number of prospective rare earth mining companies seeking capital exceeded 400, despite the reality that supply requirements of this market were disproportionally small when compared to other natural resource sectorsv. In the world of finance ‘smart money’ picks the winners. Consequently just twovi projects attracted nearly all of the capital (Molycorp and Lynas). Wall street picked Molycorpvii. This paper will primarily focus on Molycorp. By early 2010 the words “Molycorp” and “Rare Earths” electrified many people in the mining industry, most non-Chinese manufacturing technology companies, U.S. & allied defense contractors, technocrats in the U.S. national security community and eager investors across most of the world’s stock markets. It was the hottest story of the yearviii. The financial, technology and defense press coverage verged on euphoric: heaping fuel on fuel until the highly combustible Molycorp-pyre cast a long shadow over all of its rivalsix. When the IPO match was lit the spectacular flaming pyre sucked all of the oxygen out of the rare earth spacex. Molycorp was ranked the most lucrative IPO of 2010, resulting in record breaking profits to its private investors and massive returns for its early stock holding investors."

Jan 1, 2017

By John Chipman, Wayne L. Worrell

Using recent thermodynamic data for the carbides and oxides of tantalum, columbium, and vanadium, the stable solid phases aboue 1300°K and at 1 atm CO(g) pressure in each M-C-O system have been determined. Pourbaix-Ellingham diagrams have been constructed and are used to estimate the minimum temperatures necessary to obtain these metals by carbothermic reduction under reduced pressures. TANTALUM, columbium, and vanadium react with carbon to form the M,C and MC carbide phases. The M,C carbides have narrow homogeneity ranges, but the MC phases possess considerable ranges of homogeneity.' The free energies of formation of the MC carbides were recently measured, and those of MC and M2Ccarbides have been estimated., (The notations MC and MC denote, respectively, the carbide compositions at the carbon-rich and at the metal-rich boundaries of the homogeneous MC phase.) In this paper, these carbide data are combined with thermodynamic data for the oxides to predict the stable phases in the Ta-C-O, Cb-C-O, and V-C-O systems at specified temperatures and oxygen pressures. M-C-O PHASE DIAGRAMS The solid phases in equilibrium above 1300°K for each M-C-0 system are shown in Figs. 1, 2, and 3. Above 1300°K, the vapor would consist entirely of carbon monoxide; and these phase diagrams were obtained by specifying the vapor pressure of CO(g) to be 1 atm. The temperature at which any two solid phases become unstable is specified along the two-phase equilibrium lines in each diagram. To simplify the diagrams, all solid phases in the Ta-C-O and Cb-C-O systems are represented as stoichiometric compounds. However, the homogeneity ranges of VO and VC are indicated, because they form a complete series of solid solutions.3 It also should be noted that the homogeneity range of

Jan 1, 1964

The objective in control blasting is to reduce overbreak to control the final pit wall slope, shaft, drift, ditch, bench, etc. to the final planned excavation limit.

Jan 1, 1990

Societal influences, needs, and uses for recyclable materials are becoming increasingly important business and economic factors in the traditional natural resource companies. Several metals (such as steel, aluminium, zinc, lead and cadmium) are amenable ro recycle which eliminates solid waste generation and decreases the depletion of natural resources. In recent years, the non-ferrous industries have begun to recycle more materials and the next decade will see even larger recycle efforts. In addition to the traditonal recyclable materials, existing metallurgical plants are, or should be, able to handle and recycle materials viewed as 'hazardous'. Unfortunately, some national and regional regulations hinder, and in some cases prevent, the recycling of certain materials. Zinc Corporation of America (ZCA) is currently the largest producer of zinc metal in the USA and one of the world's largest producers of value-added zinc products. Over the last few years, ZCA has become one of the world's largest recyclers of zinc from various diverse materials. ZCA considers these recyclable materials as valuable 'land mines' that provide economic alternatives to the depletion of natural resources while serving society in the minimisation of solid waste disposal. Using the current production facilities of ZCA as a model, this paper overviews the recycling of zinc-bearing materials with special emphasis on: 1. the amenability for recycle within ZCA's pyrometallurgical and hydrometallurgical operations, 2. the quantities and economics of recycle, 3. the problems of recycling hindered by current national and regional regulations, 4. the concepts of total recycle rather than just recovering zinc while generating a modified solid waste, and 5. the motivators for recycling.

Jan 1, 1993

By M. Kumral

The efficiency of an ore-processing unit depends on the consistency of the characteristics of raw material entering the plant. When the mined ore is highly variable in quality, the only way to ensure consistency is to homogenize the ore prior to feeding to the processing plant. The homogenization can generally be achieved by the bed blending operation. Given that the stockpiling and reclamation processes are very expensive, it is necessary to design the process in such a way as to minimize variabilities of specified properties of raw material. In this paper, for alternative stacking types, optimal stockpile geometry is found in three stages: First, stockpile input is simulated by sequential Gaussian simulation, and then the variance reduction ratios (VRR) as a criterion of stockpile efficiency are calculated for various stockpile geometry scenarios by a stockpile simulator written in FORTRAN. Second, multiple regression analysis is performed to model the VRR by the use of stockpile length, the number of layers and stacker speed as the independent variables. Finally, the model is an optimization problem. Decision variables are the stockpile length, the number of layers, stacker speed and stacking type. The genetic algorithms (GA) are used to minimize the VRR. The approach was demonstrated on data from an iron orebody. The problem was to reduce fluctuations of iron, silica, alumina and lime contents in the stockpile output. The results showed that the approach could be used for the bed blending design efficiently. Keywords: bed blending design, multiple regression analysis, genetic algorithms, iron ore, content fluctuation

Jan 1, 2006

By Chris Breeds, Ken Johnston, Omar Fulton

This paper describes the process typically involved with obtaining permits for quarry blasting in urban, suburban, and rural areas, including: content of SEPA (State Environmental Policy Act) driven documentation; regulatory review and comment; public interaction; public hearing(s); periodic regulatory review(s); negotiated solutions; monitoring; and the role of public interaction, demonstration(s), and education in the process. Case studies will be presented of projects undertaken in the State of Washington that illustrate the approach and regulatory interaction as well as the importance of public interaction throughout the process. Reference will be made to the role of national and state regulations and local codes and ordinances that provide additional limitations on blasting practice. The paper will also present regional blast monitoring data that are used in the permitting process and the layout and design of blast monitoring systems typically required as conditions of the quarrying permit. Our presentation will include tools, which we have developed to assist with explaining blast related phenomenon to both regulators and the public.

Jan 1, 2003

By Jim Wickens, Vince Lofftus, Mark Kravetz

"This paper discusses how Bald Mountain Gold Mine (Ely, NV) dramatically reduced mercury production by treating process solutions with a liquid reagent based on organic sulfide chemistry. Cherokee Chemical Co. Inc. (Vernon, CA) markets this reagent as UNR 81 1A.A summary of the bench tests comparing various reagents is given. The ensuing plant trial is discussed and successful mercury removal results are presented. Data is presented to show that early removal of mercury in the process reduces the amount of mercury collected at retort. Data is also presented to show that use of this reagent does not reduce gold recovery. Plant trial treatment costs are discussed. Finally, the potential of this technology to substantially reduce closure costs as compared to traditional mercury removal options is discussed.INTRODUCTIONBald Mountain Mine produces gold. Mercury is a costly by-product of gold production because no revenue is generated from mercury. Traditionally, mercury leaches out with gold and follows the gold throughout the processing circuit until it is eventually condensed and collected at Retort. Minimizing or eliminating mercury production minimizes worker health and safety risks, minimizes environmental liability, and reduces costs. In the long term, minimizing mercury production will make mine closure easier and less costly.Bald Mountain Mine dramatically reduced mercury production by treating process solutions with liquid reagents called UNR 811 and UNR 811A. Several reagents were bench tested before proceeding with a plant trial. The reagent complexes the mercury to form an insoluble organic sulfide precipitate. In independent tests, the precipitate passed acid mobilization tests and is considered stable."

Jan 1, 2001

By D. I. Smith

Constructing tunnels in congested urban areas requires tunnels to be placed closer together and with less cover than was previously necessary. Contract CQ031 of New York?s East Side Access project will construct four six-meter diameter bored tunnels in a three-up one-down ?T? configuration, with less than three meters of soil between the tunnels. Mixed-face rock and glacial till conditions with a high ground water table will be encountered under active railroad yards. The tunnels will also pass beneath the busiest railroad interlocking in North America with cover as shallow as three meters. This paper discusses the challenges of designing segmentally lined tunnels for these conditions.

Jan 1, 2008

By Dario Libano

"The Line 5 Extension, in Sao Paulo, Brazil, is currently the most important investment in public transportation by Sao Paulo’s state government. It will connect the south part of the city to the city center, crossing through four other major Metro lines and stations; all currently in operation. The total extension of the line is 11 km (6.8 mi), and includes a new parking yard for the trains and 11 new stations. The Brooklin Station, one of the new stations due to be open and operating in 2016, has a unique geometry of five secant shafts.The original design included constructing five secant shafts stabilized by two plastic slurry walls using conventional grab technology. One slurry wall, along the Santo Amaro Avenue, was to contain the contamination plumes, and another was for temporary support to enable the excavation of the shafts. The final retaining wall design was changed to a concrete structural diaphragm wall that reduced the construction time of the shafts by half, allowing the contractor to meet the construction schedule. This solution also avoided dewatering effects in a geological region characterized by Quaternary sediments and environmental contamination plumes. It was the first time that a hydromill was used in such a situation in Brazil. The hydromill, by overcutting the panels, increased the quality of the joints, and decreased the probability of having seepage into the shafts. The hydromill also created a seepage barrier and avoided movement of the contaminated plumes.The GeologyLocal geology is composed of a superficial Quaternary soil, basically soft organic clays and sands and gravels. From the depth of 8 m (26 ft) until 18 m (59 ft), geology is composed by tertiary medium compact sand with thin silt-clay layers. From 18 m (59 ft) down, there are alternations between compact silt-sands layers with very hard clays layers. Each is approximately 5 to 10 m (16.4 ft to 33 ft) thick.The Initial Basic DesignThe original basic design of the Brooklin Station was to be constructed from five 40 m (131 ft) diameter intersecting circular shafts, all in a line along the axis of the Metro tunnel, in 555 days. In the excavation sequence, the odd shafts were first excavated, waterproofed and had part of their inside cast-in-place structure built before the even shafts were excavated. During the excavation of the even shafts, part of the odd shaft’s support was demolished and connected with the even support. A 0.8 m (2.6 ft) thick plastic slurry wall, acting together with the wire mesh reinforced shotcrete support, ensured the excavation stability around the five shafts."

Jan 1, 2014

By Marco Muñoz

La mina Porvenir, perteneciente al Grupo Milpo, está ubicada en Cerro de Pasco, destacándose por la corporación de equipos de alta tecnología minera adecuada a sus operaciones. En ese sentido, el presente texto señala el sistema de gestión operativa aplicado en la mina Porvenir con el objetivo de apoyar las operaciones, ya que la tecnología de información permite manejar complejidad y mejorar la calidad de las decisiones.

Jul 17, 2000

The Martha Hill project operates with a nett surplus of water, due to the catchment of rainwater on the tailings dam and the requirement to de-water the open pit mine. It is necessary to discharge this surplus, treated as required, to the Ohinemuri River which flows past the process plant.   The treatment plant, adjacent to the process plant, handles all effluent from the Martha Hill operation including water pumped from the mine, excess water from the tailings decant, and seepage from the tailings dam underdrains. To-date the plant has treated and discharged over 800 000 tonnes of water.

Jan 1, 1991

Meeting of June 26, 1914.-The President was authorized to appoint Advisory Committees to co operate with the United States Bureau of Mines. The President announced the appointment of Edward H. Benjamin and W. C. Ralston as additional members of the Committee on Arrangements for the San Francisco meeting, 1915. H. T. Van Ells and Judd Stewart were appointed to represent the Institute on a joint committee of several technical societies to consider the standardization of graphical methods for the presentation of statistics. The President announced the appointment of H. Foster Bain to succeed Edward H. Benjamin, resigned, on the Committee of Management of the International Engineering Congress, 1915. The Secretary was authorized to issue a new circular advertising the sale of back Transactions and to sell back Transactions, bound in cloth, at a price of $35 for 46 volumes, provided sufficient orders were received to warrant the special binding. The sum of $177.50 was contributed to the San Francisco Local Section. Upon recommendation of the Committee on Membership, 70 Members, 4 Associate Members and 7 Junior Members were elected to their respective classes; there was also one change of status from Junior Member to Member.

Jan 8, 1914

By M. P. Hardy

Copper-Nickel ores in northeastern Minnesota could establish a new industry in a region where underground mining has not been active. This study reviews geotechnical data relevant to the selection and design of underground mines in this region and by numerical structural analysis evaluates the importance of some geotechnical parameters to mine method selection. Because of the rapid development of computer modeling many new techniques have become available for modeling rock mass behavior in recent years. An overview of these methods is presented and their applicability to mine design reviewed. Methods included in this summary were the differential continuum models, such as finite Pint and finite difference, integral continuum models, such as boundary element, displacement discontinuity and boundary integral equation methods, and discontinuum methods such as the distinct block model. The displacement discontinuity method was used to evaluate the influence of geotechnical parameters on some aspects of mine design. Three problems; room stability, pillar stability on a weak inclined contact and sill pillar thickness influence on sill pillar stability, were analyzed to evaluate the relative importance of insitu stress field and joint properties on design. It was concluded that for stability analysis the initial horizontal stress is of most importance in all aspects of design. The position, orientation, persistence and strength of joints is also of primary concern. In a more general sense, however, it was concluded that detailed geotechnical parameters have much less influence on mine method selection than more general factors such as rock quality, initial stress state, orebody shape and economics.

Jan 1, 1978

The Hopi Reservation is in Arizona, where coal mining can be traced to the 13th century. Bituminous coal is found in varying quantities throughout the Hopi Reservation. The Hopi Tribe has a 50 percent mineral interest in the coal resources of the joint-use area adjacent to the Navajo reservation. The only coal presently mined on acornrnercial scale from lands in which the Hopi Tribe has an interest is from the Wepo formation at the Black Mesa and Kayenta Mines. These two large surface mines, located over 50 miles northeast of most Hopi settlements, have disturbed more than 6,000 acres. Income from royalties generated by the mines provides significant economic support for the Hopi Tribe. The Office of Surface Mining's Albuquerque, New Mexico, Field Office is responsible for regulating mining and reclamation on Hopi land. The Hopi Abandoned Mine Land Program was approved June 28,1988.

Jan 1, 1992

By A. U. Miller

Protection against fire is a greater problem at a coal mine, than at an ordinary industrial plant. Generally mines are located in isolated districts and do not have the protection of city fire departments; consequently fire fighting aquipment must be installed by the mining company. Fire protection around a mine is just as essential as it is in the city.. and undoubtedly is more important if the fire should be underground where many lives would be endangered and all means of escape cut off. A surface fire can generally be attacked from any angle, but an underground fire can be attacked only as conditions will permit.. U. S. Bureau of Mines engineers have investigated many serious mine fires that undoubtedly could have been extinguished in incipiency if a fire extinguisher or fire hose and water had been readily available. In past years very little attention was given..to fire fighting equipment and organization around mines, but in recent years three gen a derde hange of opinion among many of those engaged in mining, and nearly all up-to-date mining companies now have some kind of fire protection about their mine Probably the first company in Illinois to install regular fire fighting equipment and effect a fire fighting organization at its mines, was the Madison Coal Corporation, which operates several mines in Illinois. The main office of this company is in Chicago and the general field office is at Glen Carbon, Ill.

Jul 1, 1930

"The mission of the Respirable Dust Center is to enhance the health, safety and productivity of the miners 'through advancing the fundamental .understanding of all aspects of respirable dust associated with mining and milling and the interaction of dus.t and lungs for reducing the incidence and severity of respirable dust disease. All Dust Center activities are focussed to be responsive to this mission which is shared by several federal agencies closely associated with the Generic Mineral Technology Center for Respirable Dust such as USBM, M,SHA, and NIOSH, and the mining industry. While significant progress has been achieved in making mine atmospheres cleaner and healthier, respirable dust disease remains the nations worst industrial hazard. GOALSThe goals of the Respirable Dust Center have been formulated to recognize the diverse scientific, engineering and medical aspects of respirable dust as well as the need to enhance the interaction, education and technology transfer in the respirable dust area.The Center goals are to:1. Enhance the understanding of the scientific, engineering and biological characteristics of fine and respirable mineral particles, fibers, organic aerosols, and complex particles found in the mining and milling atmospheres.2. Advance the understanding of the physical behavior of airborne respirable dust particles in flowing streams under different. stimuli during mining and milling.3. Advance fundamental understanding of the causative mechanisms for the occupationally related lung impairments and the airway diseases of mine and mill workers.4. Establish the relationship between natural and cultural factors (mine geology, mineralogy, mining and milling methods, equipment and control measures) in the generation, exposures, and pathogenic properties of fine particles.5. Contribute to the development of control mechanisms for reducing ambient respirable dust concentrations, worker exposure, the incidence and severity of dust related lung disorders and disease prevention in mining and milling atmospheres.6. Enhance functional integration among the various research personnel in the Center, as well as, with other groups, such as MSHA, NIOSH and USBM involved in respirable dust research and control.7. Develop technically trained personnel for employment in the mineral industry for respirable dust research and control.8. Enhance the availability of respirable dust-related information utilizing several technology transfer avenues."

Jan 1, 1990

Old Copper Flotation Tailings Waste Reprocessing

Sep 13, 2010

By C. J. Brown

Controlling the level of impurities in copper refinery electrolytes is essential to achieving acceptable cathode purity. Purge of electrolyte is not an entirely satisfactory solution since the cost of neutralization, waste disposal, and replacement acid can be appreciable. The APU® process utilizes ion exchange resin to sorb sulphuric acid while rejecting metal salt impurities. Extensively employed for recovery of waste pickling and anodizing acids since 1977, the system is now being used at several refineries for removal of contaminants such as antimony, bismuth, iron, and nickel. The purified acid, which is recovered from the resin by water elution, is recycled back to the refinery tank-house, while the metals are typically recovered from the de-acidified by-product solution by precipitation.

Jan 1, 2005

By Remo Grandori, Manfred Jaeger, Fabrizio Antonini, Luis Vigl

The EVINOS-MORNOS tunnel project with its 30 km of length is one of the longest hydraulic tunnel in the world realised with TBM method. The adverse geological conditions, the high cover and the short construction schedule were a great challenge for the successful construction of this tunnel. The paper will describe: the criteria adopted for the tunnel design, the selection of the construction methods and equipment, the productions of the 4 TBMs adopted and the comparison of the behaviour of the different type of TBMs in the various rock conditions, including special conditions, the characteristics of the adopted in situ and precast linings, a comparison between the foreseen and actual construction schedules, the contractual implications of realising a tunnel in such a severe and complex conditions.

Jan 1, 1995

Recent Bureau of Mines research in earth grounding safety is documented in three separate papers. First, guidelines for the design of a 5- ohm borehole ground are presented. Next, an inexpensive practical means to construct a low-resistance bed in high-resistivity soil is described. Finally, a procedure that employs a commercial resistivity meter to measure shock potentials around grounded objects is explained step-by-step. These papers complement the material presented at an earlier technology transfer seminar and published as IC 8767.

Jan 1, 1985