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By Douglas D. Donald

The financial analyst's job is to make an objective appraisal of the investment opportunities which exist within the various industries under his supervision within the context of the economic model provided by his firm and the a climate of investor sentiments. Industry analysis is critical. When a major investment trend develops, usually the stock of all companies within the specific industry react in the same direction. I should emphasize here, however, that an investment trend is influenced by the economic outlook, but economics is not the only determinant - investor psychology and arbitrary political factors may be of equal or greater importance. Part of our job is to recognize trends early and determine whether they are valid. Following industry analysis, the analyst must examine the specific companies within that industry since some companies usually react more violently than others to industry trends, whether they be favorable or adverse. To simplify the process of evaluating an investment opportunity, it is convenient to isolate three types of factors which have a bearing on every sort of business although the degree of influence of each factor may vary from industry to industry. These categories are, 1) independent or external factors insofar as they are beyond the control of corporate management, 2) interdependent factors insofar as influence may be exerted by industry-wide action, and 3) dependent factors covering the area of internal decisions which are basically under the control of the individual corporate managers. Although the title of this paper, "The Corporate Use of Cash Flow," is only one segment of the third category, it may be useful to continent on the first two categories as well. The independent factors may be either economic or governmental. The economic factors include cyclicality which may be very high in the case of the basic commodity industries or relatively low as in the case of utilities. Underlying growth rates, another independent factor, may range from the business equipment industry with an annual growth rate of 14% through the electric utility industry with a growth rate of about 7% per year to the

Jan 1, 1970

By Musa D. Manzi, Raymond J. Durrheim, Richard T. Masethe

Large mining-induced seismic events and their aftershocks cause hazardous working conditions, damage infrastructure, delay production and pose a risk to miners in the deep-level gold mines of South Africa. Stress changes affecting pre-existing zones of weakness are the main drivers of large mining-induced seismic events, which are often followed by aftershocks triggered by quasi-static stress transfer within the rockmass. A better understanding of seismic source mechanisms is important if the seismic data is to be used more effectively for mine planning and to reduce the rockburst risk. Four large seismic events (ML≥2.0) associated with the mining of the Ventersdorp Contact Reef (VCR) at Kloof Gold Mine occurred on 13 June 2017. The events and their fore- and aftershocks were studied in detail to establish the circumstances and the cause of the incidents. The local magnitudes ranged from ML 2.3 to ML 3.0, the seismic moment from 0.69 to 2.25 x 1013 Nm and the source radius from 92 – 150 m. The main shocks were preceded by foreshock sequences, which were especially vigorous in the four hours before the main shock. Seismicity was recorded by in-mine arrays of three-component 4.5Hz geophones (detection threshold approx. ML -2.9). Following all four main seismic events, ML 2.3, ML 2.3, ML 2.9 and ML 3.0, the network detected a total number of 300 aftershocks ranging from ML -2.9 to ML 1.6 spread within a 1300 m radius from the centre of the seismic network. The statistical properties of the aftershocks were analysed using three scaling relationships: (i) Gutenberg–Richter frequency magnitude relationship; (ii) modified Omori’s law; and (iii) Båth’s law for the magnitude of the largest aftershock. The geological or mining feature that controlled the failure (e.g., fault, dyke, pillar, abutment) was determined by calculating the orientation of the nodal planes of the large seismic events using moment tensor analysis and studying the aftershock distributions.

Apr 26, 2022

By W. C. Morgan

The Federal Surface Mining Law enacted in 1978 is now being translated into regulations which must be followed in future coal mining. Substantial change to mining procedures is required to maintain stricter air and water control while mining and to return the mined out land to equal or better use than before. These changes do not come easy; and in most cases, they create a substantial additional cost. Based on field observations and mining studies, Caterpillar has been making suggestions on the use of their types of equipment to conform to the new standards at the least cost. This paper will be a brief review of some of the overburden stripping and reclamation methods suggested by Caterpillar. A production and cost comparison of dragline, scraper/dozer and truck, loader systems in 20 to 150 ft. Overburden conditions illustrates potential cost savings using mobile equipment.

Jan 1, 1980

By E. C. Westman, W. R. Thomas, W. J. Conrad, A. J. R. Russell

"Understanding ground control problems continues to remain a focus of the mining engineering community. To aid mine operators and engineers in identifying and responding to ground control issues, the Ground Observation System (GOS) is being developed. The GOS is an integrated, web-based graphical user interface that displays ground response data collected wirelessly from an underground mine. It presents data in an intuitive manner to assist mine personnel, who are on- or off-site, in quickly identifying hazardous areas. Geotechnical instrumentation will be connected to wireless transmitters that will relay data in real-time to a surface computer that stores the information in a database. The GOS website will then display the geotechnical data in graphical and tabular forms, as well as in conditionally formatted mine maps. Data from each measurement device will be able to be viewed in its entirety or within a time interval, and can be downloaded for further analysis. The ability of the GOS to quickly interpret and communicate mine hazards to personnel of varying technical ability should prove to be a useful tool in understanding ground control and thus improving mine safety.INTRODUCTION Computer-based data information centers that convey operating parameters and conditions are prevalent in modern underground mines. Today’s systems are popular in showing ventilation controls and monitoring equipment performance (Jyothi & Meena 2013). In ground control monitoring, Conover, Ross, and Bigby, 2010 have installed a wired telltale roof monitoring system that sends roof displacement data every ten minutes to a computer on the surface. The computer receives, stores, and displays the data in real time. Data can also be viewed remotely through a password protected internet connection. Additionally, an internet connection allowed for remote updates to the system which streamlined software development and maintenance by eliminating travel (Conover et al., 2010). Currently, no such system beyond Conover et al.’s design has been accomplished. The Ground Observation System (GOS) is being developed to fill the void of real-time geotechnical monitoring in underground mines. A wide array of data will be transmitted wirelessly and broadcasted to on- and off-site mine personnel through the internet. The GOS will incorporate geotechnical data from roof deformation, borehole scratch testing, photogrammetry, and seismic monitoring into one interface, all while achieving permissibility for the use in gaseous mines. As a result, a comprehensive view of rock movement due to mining will be available. The overall purpose of the GOS is to deliver warnings; to ensure reliable data is relayed to personnel for the identification of potential ground failures, provide mine engineers information to design more stable mines, and assist with further geotechnical research."

Jan 1, 2015

The paper describes a practical methodology based on numerical modelling for the prediction of progressive failure of underground mine stopes with cable bolt support. A case study of the 40-761 stope at Kidd Creek Mine, Timmins, Ontario is presented. The stope was mined by blasthole open stoping in 1986 as a lead stope within a mining block between 36-1 and 38-2 levels. Initially designed to peak at 38-2 level, the stope back caved upwards approximately 40m towards 36-1 level. Cable bolts were installed above the stope from 36-1 level after caving had begun. The stope eventually stopped to cave when the falling rock mass encountered a sufficiently high cable density. The paper provides details of the geomechanical data and modelling results of the case study. Numerical modelling is carried out using a finite element package known as e-z tools which has, among other things, a special cable/rockbolt simulation capability.

Jan 1, 1994

By Yi Luo

This paper presents some of the results of a research on long-term subsidence over and near the chain pillar systems -the area available to long-term subsidence in longwall operations. Although the long-term subsidence in most longwall operation is insignificant, it does exist in some cases. For the cases where long-term subsidence is significant, it has been found that the development process can be expressed by an exponential decaying function. The stability factor of the chain pillar system and the potential for long-term subsidence are the two important factors that control the magnitude and development characteristics of the long-term subsidence process.

Jan 1, 1999

By A. Frank Alsobrook

DOUG HALBE: Thanks, Terry. And in spite of your introductory comments, I'm going to attempt to continue our hallowed tradition of saying nice things about the speakers. This is really a serious comment now. We, as mineral processing and mill people, don't often talk to people outside our general operating area. One thing that we've tried to do in this operators' symposium is get speakers from various types of plant operations to help illustrate all the things we have in common. Our next speaker is from the industrial minerals area. I think there's a lot to be learned from industrial minerals operations. Some of the people in the last session learned some things about fine grinding in industrial mineral operations. I was a little surprised to see people there grind to 2 microns. Our next speaker is Frank Alsobrook. Frank is another nonmetallurgical engineer. He has a degree in geology, a master's of science from the University of Wisconsin. He's had his own very successful consulting company for a number of years. This is your 11th anniversary, Frank? Very good. He's also the immediate past chair of the industrial minerals division. I think the folks at the speakers' table should be ashamed. You have been so rowdy that Frank chose to sit in the audience. [laughter] We'd like you to come up now, Frank, and tell us some things that you've seen that might be useful to us. INTRODUCTION FRANK ALSOBROOK: The three topics addressed briefly are (1) teamwork and operations modeling, (2) the pitfalls of capital conservatism, and (3) the potential for by-product recovery. Ideas for improvements in these areas are not unique to industrial minerals but apply to metal mining and processing operations, as well. Several additional topics are suggested at the end of the paper.

Jan 1, 1998

By M. L. Mellish

In 1989, for the third consecutive year, both the production and consumption of coal in the United States reached record levels. Domestic coal consumption totaled 806.5 Mt (889 million st) in 1989, a 5.4 Mt (6 million st) increase from the year before (Table 1). US coal exporters also had a banner year. For the first time since 1982, exports ex¬ceeded 91 Mt (100 million st). US coal production in 1989 rose by a surprising 27.3 Mt (30 million st), reaching 889 Mt (980 million st) for the year. To a certain extent, the sizable difference between production and demand growth was due to smaller consumer stock withdrawals. Coal consumers withdrew only 12.7 Mt (14 million st) of coal from their stocks in 1989, com¬pared to 22.7 Mt (25 million st) in 1988. Despite strengthening coal consumption, exports, and production, coal prices to all domestic sectors declined slightly during the year. That essentially continued the trend of the past several years. On the labor front, the United Mine Workers of America struck the Pittston Coal Group in 1989. It was a bitter work stoppage that was not settled until February of 1990. This was the first major coal strike since 1985. The strike also precipitated a series of wildcat outages by UMWA members in June and July. At their peak, more than 40,000 UMWA members participated in the wildcat strikes. Except at Pittston, however, most miners were back to work by August. It is estimated that perhaps 4.5 to 9.1 Mt (5 to 10 million st) of coal production was lost due to the Pittston and associated wildcat strikes. However, some of this production may have been recouped by other coal companies not affected by the wildcat strikes, and by the affected companies after the strikes ended.

Jan 1, 1990

By Alfred W. Eustes III

The first of a series on the evaluation of rock cutting tools, this paper discusses the results of full-scale laboratory drilling tests that compare the performances of several polycrystalline diamond cutter (PDC) coring bits. The tests were performed in welded tuff as part of a site characterization program. Number of cutters, size of cutters, air course design, and other parameters were evaluated as they affect penetration rate, but this paper focuses mainly on the relationships of torque vs. thrust (weight-on-bit), specific energy vs. penetration rate, and thrust vs. penetration rate. These relationships change in diagnostic ways according to bit type, bit condition, and type of welded tuff.

Jan 1, 1998

By Robert L. Marovelli

Organizational development that attempts to simultaneously deal both with training and with job design parameters as they relate to mine health and safety, productivity, and quality of life is one of several areas of research that the Bureau of Mines is pursuing. The Bureau sees potential in this particular effort for reducing accidents and injuries, improving worker satisfaction and health, and increasing productivity.

Jan 1, 1981

By M. J. Virnig

A flowsheet for the recovery of nickel and cobalt from laterite ores has been developed which involves acid leaching followed by hydroxide precipitation of the metal values and then releaching of the hydroxide cake with ammonia. Investigations of the chemistry of extraction of nickel by LIX® 84-1 and a developmental reagent, XI-84-IT, along with the physical properties of the organic phases are described. Based on these investigations, suggestions with regard to design of a solvent extraction plant and operating conditions are made.

Jan 1, 1999

By Kadri Dağdelen, Matthew Deutsch, Thys Johnson

Nested pit analysis in open-pit long range mine planning is used to define approximate ultimate pit limits and an initial high-level schedule in the early stages of a project. Modern ultimate pit optimizers can solve for dozens, or even hundreds, of nested pits however often a smaller subset of pits which are evenly spaced with respect to contained tonnage are desired for downstream analysis. In situations where that pushback selection process must be automated, such as when performing sensitivity analysis, or when the best subset of pushbacks is required; an optimization procedure is warranted. This paper describes a dynamic programming algorithm for selecting pushbacks following nested pit analysis, which is performant and addresses a long-standing inconvenience faced by long range open-pit mine planners.

Jun 25, 2023

By James Wm. White

Computer based dispatching in open pit truck haulage operations yields many benefits of current interest to mine management. The key tangible benefit is a substantial productivity increase with a given fleet of equipment or, alternately, a significant reduction in equipment required to meet production quotas. Other tangible benefits, depending on the operation, include minimizing rehandle, meeting several blending constraints simultaneously and ensuring a target plant feed rate. Intangible benefits include production forecasting, performance comparisons of trucks or shovels of different manufacture and extensive on-line report generation. Recent advances in mini and micro computer hardware and software and solid state electronics permit design and implementation of system features not feasible even a few years ago. Here we discuss many of these recent developments with emphasis on system aspects and dispatching algorithms.

Jan 1, 1983

By T. A. Ring

The bed filtration of colloidal particles has been modeled by performing a differential particle balance. The balance considered the localized particle deposition rate to be the sum of three rate resistances: 1) mass transfer to a region near the surface; 2) adhesion onto a partially filled surface; and 3) resuspension from a partially filled surface. The differential particle balance equations, one for the free particles and one for the adhered particles, were solved by a finite difference algorithm. The results of this model are compared to experimental filter breakthrough curves.

Jan 1, 1983

By Erwin K. Roesner

The difficulties encountered while sinking deep shafts for Potash Mines in southern Saskatchewan have been the subject of several papers in the past. Geological and hydrological conditions of the strata overlying the potash deposits require special techniques for ground and water control during shaft sinking. The easily soluble potash ore requires the lining of these shafts to be virtually watertight to assure long term and safe operation. This paper describes the construction of the most recently completed potash shaft for the Potash Corporation of Saskatchewan. The shaft was designed and constructed by Thyssen Mining Construction of Canada Ltd. and it is located near Lanigan, approximately 110 km east of Saskatoon.

Jan 1, 1980

By G. Wayne Clough

During shallow tunneling in an urban environment, deposits or pockets of saturated soil or fractured, weathered rock are often encountered. Under such conditions, special problems with tunnel support, underpinning of structures adjacent to the tunneling, and/or flow of groundwater into the tunnel occur. If the ground conditions are appropriate, i.e., the soil is sandy, silty or fissured, or the rock is weathered or fractured, the solution to these tunneling problems may be chemical stabilization of the ground. Injection stabilization as an aid to tunneling is practiced extensively in Europe and its use is increasing in the U.S. The advantages of this technique over conventional solutions can be substantial in terms of cost and time, especially in mechanized tunnel boring where even a small zone of soft ground can bring the tunneling to a complete halt. In this paper European practice in using chemical ground stabilization for urban tunneling will be reviewed. In contrast to previous papers which have dealt with specific applications (1,5,8,9) this paper will broadly cover the subject, addressing itself to grouting techniques, costs, the reasons for grouting, philosophy of the users towards grouting, design of grouting solutions (or lack thereof) and methods of quality control. Differences with U.S. grouting practice are also noted. The information presented is derived from several visits to Europe, discussions with European and U.S. grouting personnel, and the available literature (2). The author's most recent European trip was made under the auspices of the U.S. Department of Transportation in conjunction with a research study being performed at Stanford University; a detailed report of this visit is available in reference (6).

Jan 1, 1976

By D. L. Moellenberg

Under various state laws enacted mostly within the last 20 years, reclamation requirements and standards for hard-rock mining operations have been established virtually everywhere in the western United States. Unlike the uniform and detailed coal mine reclamation requirements under the federal Surface Mining Control and Reclamation Act ( "SMCRA" ) and state programs mode led after SMCRA, the various state law hard-rock mine reclamation requirements are based upon a variety of objectives, and therefore are subject to varying standards from state to state. While the diversity of reclamation requirements complicates the determination of what reclamation measures will be required at any particular mine, there are valid reasons for this diversity. There are dozens of different commodities mined in the United States, and mining methods are different for each commodity. Local natural conditions such as climate, precipitation, geology, hydrology, and biology vary widely across the county. Site-specific conditions also affect mining and reclamation methods. Also, factors such as economics, land use, and environmental protection issues receive different priorities in different states and communities within those states. State reclamation requirements in general provide the flexibility to consider site-specific circumstances, allowing operators to design and engineer the best reclamation measures for each mining site. To the mine developer or manager, reclamation requirements must be translated into design, operational, and closure measures for mine planning. Each of these measures must then be assigned additional costs to be factored into the economic decisions for a particular mining operation. On a broader level, reclamation costs must be factored into decisions such as where to invest in exploration and mine development. The purpose of this paper is to provide a summary of the state non-coal mine reclamation requirements in twelve western states. This summary comparison may be useful as a starting point in considering how local reclamation requirements will impact potential mining costs.

Jan 1, 1994

By J. M. Rebstock

Recent re-classification of crystalline silica as a potential human carcinogen has resulted in a new limit of 0.1% free silica in bulk powdered minerals. Detection of silica at this level can be expected to severely challenge or exceed the capabilities of existing protocols for x-ray diffraction, the traditional method for free silica determination. Automated SEH-EOS analysis provides an attractive alternative method, with direct analysis of individual particles for the determination of the concentration of free silica, and a direct measurement of silica particle sizes. This paper will discuss automated SEH analytical procedures, sample preparation, and statistical considerations.

Jan 1, 1990

By Paul T. Allsman, Paul F. Yopes

17.1--CURRENT AND FUTURE STATUS OF SURFACE MINING PAUL T. ALLSMAN AND PAUL F. YOPES 17.1.1--CURRENT The history of surface mining essentially is one of mining coal, copper, iron and aluminum ores, of placer mining gold and tin, and of pits and quarries producing clays, gypsum, phosphate rock, sand, gravel and stone. Table 17-1 is a summary of the estimated world and United States production of crude metallic and non¬metallic ores and coal in 1969. It includes estimates of the quantities produced by surface-mining methods. Two-thirds of the 10 billion tons are mined from the surface, ranging from a third of the coal. 57% of the metallic ores, and nearly all clays, stone, sand and gravel. Production by surface methods in the United States, parallels that of the world with one exception: about 90% of the copper and iron ore is mined from the surface, whereas elsewhere only about half the copper ore is surface mined. In Canada, surface mining of the Athabasca tar-sand deposits is a recent large-scale unique operation. In surface mining of coal and, to a lesser extent, metallic ores, much waste is stripped, but in nonmetallic pits and quarries the ratio between waste and ore usually is small. Assuming that the stripping ratio for surface mining in the

Jan 1, 1973

By J. E. Lees

Advanced remote sensing can be a powerful new information tool to help private and public entities make better environmental and resource management decisions. However, some regulated entities are reluctant to develop or use this tool because of their concerns that it will lead to increased risks and costs of environmental legal liability. They fear that new ways of monitoring the environment will increase liability, undermine existing enforcement agreements, reopen compliance agreements, and generally provide a competitive disadvantage to early adopters by accelerating environmental cleanup costs. Others counter that the increased risks are marginal, and that several advantages outweigh these risks, including the opportunity to more effectively manage environmental operations, target and set priorities, measure and track management and compliance effectiveness, provide more defensible environmental assessments and baseline conditions, make and defend optimal siting decisions, and avoid or resolve environmental disputes. This paper offers strategic advice on ways regulated entities can enjoy the benefits of these powerful new information tools while mitigating down-side legal and compliance risks as much as possible.

Jan 1, 1999