Search Documents

By Ben Ainsworth

I am going to discuss gold mining in Mexico during the last twenty centuries and try to suggest some of the futures that may develop in this industry in the next decade. Before I start this rapid review of such a long developing mining tradition, T must give credit to my sources. I an, talking here as an associate of Commoditi,c,s Reseflrch Unit Ltd. of London (better known as CRU) and as a principal of Ainsworth-Jenkins Holdings, an international mineral resource consultant group that has been exploring and deveJoping mining properties in Mexico and Central America for the last six years. CRU is the leading consultancy providing industry, governments and financial institu­tions with analysis and advice on the metals and the mining industries. They recently completed a three volume study entitled Gold Mining Opportunities in Mexico. This .<1tudy describes Mexico, the business environment, its geology and details its gold mining potential with property descriptions and maps. I have adopted and adapted the s11mmari.zed Mexican government statistics and rlrawn on some of the historical comments in these volumes. However, I do not have ti me (nor would it be appropriate) to be giving the details of the CRU work. Jorge Ordonez, whose shoes I am trying to fill today, was a major contributor to the study and it was an honour to be asked by Willem Beunderman, the Principal Editor, to step in when Jorge was unfortunately unable to be here. Jorge has been an enormous help to Ainsworth­Jenkins and a consistent friend of foreign investment in Mexico. Our own work in Mexico has allowed us to obtain a few useful in­sights into this most interesting slice 0f Mexican history.

Jan 1, 1992

By Vijenac Quarry, A. Iljazagic, t. Knezicek, T. Omeragic

Limestone quarry Vijenac, is one of the key limestone producers in B&H. Conventional massive drilling and blasting is the technique applied for limestone exploitation. Utilized blasting scheme causes appearance of large oversize stone pieces, uncontrolled flying stone and undesirable seismic effects. In order to reduce or eliminate exposed disadvantages and to improve environment in the area of Vijenac quarry, an innovative blasting scheme was tested. Conventional blasting scheme was changed from single row, deep inclined blast holes combined with two lines short horizontal holes to multi row, inclined blast holes combined with a single line short horizontal blastholes. Applied innovative blasting scheme reduces negative blasting impact on the environment through safer working conditions, reduced amount of dust after blasting, reduced explosive and energy consumption, reduced appearance of explosive gasses and reduced earth and air vibrations as the result of seismic effects.

Jan 1, 2005

By Francisco J. Escandon V.

Numerous lead-zinc-barite-fluorite ore deposits, with simple mineralogy and roughly concordant with bedding, are found widely distributed all over the world, having been denominated and well described as "stratiform deposits" or "strata-bound ore bodies", not having any genetic relationship. During several years, its origin has been discussed, without getting to general agreement regarding the main mining districts of this type. Through studies made of large stratiform deposits in the United States, Europe and Russia, it has been found that there are, within this classification, syngenctic diagenetic and epigenetic ore bodies. During the Symposium about the genesis of the stratiform lead-zinc-fluorite-barite deposits, carried out in New York in 1966, Frank G. Snyder (1), presented an excellent analysis of the theories of the origin of these deposits and of the evaluation of the criteria regarding classification. As per his definitions (Table 1), "a deposit is syngenetic if formed by processes similar to and simultaneously with the enclosing rock, epigenetic if introduced into a pre-existing rock and a diagenetic origin implies deposition of metals with the host sediments but with recrystallization, rearrengement and limited migration".

Jan 1, 1974

At the 25th Peruvian Mining Convention, the start-up of Antamina was called ?the mining event of the year.? Antamina, one of the largestcopper-zinc mines in the world, began operations in May 2001.Augusto Baertl is Executive Chairman of Compañía Minera Antamina, the operating company. He said in a convention address that Antamina would be in full production in 2002. ?I would like to stress that Antamina is, in every respect, a highly stringent operation, as it intends to be the Peruvianmine of the future,? Baertl said. ?Antamina has set the target of being, and remaining throughout time, a model mine as to technology, environmental practices and social responsibility.? [ ] In the areas of technology and operations, Baertl noted that ?we have incorporated the best engineering design available and state-of-the art technology for mining, grinding and transportation processes, among others.? In the environmental area, he said that ?we have carried out careful environ-mental impact studies and have incorporated modern technologies and methods to control and minimize any environmental impact.? In the social field, Baertl noted that ?our relationship with neighboring communities is being developed under the premises of the social responsibility philosophy.? These include popular consultation processes, environmental committees and conciliation discussion committees. The purpose, he said, is to encourage communities located within the area of influence of the project to find and lead by themselves their path toward sustainable development, beyond the life of the operation itself.?

Jan 1, 2001

By FHATUWANI SENGANI

The understanding of yielding pillar behavior has been well documented in terms of pillar strength using numerical simulations and empirical formulas, but the understanding of how fracture propagates in a matured yielding pillar is not well established. A new empirical summation chart of fracture distribution along the matured yielding pillar is presented in this paper. The chart was developed using ground penetrating radar (GPR) supported by borescope observations, focusing on monitoring the distribution of extension fracture.

By J. Litsenberger, T. E. Marshall, L. Burke, R. Melville, A. T. Iannacchione

Excessive levels of horizontal stresses cause ground fall hazards in underground mines in the Appalachian Basin. At an underground stone mine in Pennsylvania, a modified stress control mine layout is reducing the hazardous conditions associated with excessive horizontal stresses. A microseismic monitoring system is in place to measure levels of rock stability and provide information on the effectiveness of the design technique. The microseismic data is supplemented with frequent and extensive mapping of roof falls and roof rock damage. Findings to date show that the stress control layout provides more stable conditions and thus a safer environment for the mine workers.

Jan 1, 2001

By William Gleason

With its 2011 acquisition of rival equipment company Bucyrus International, Caterpillar added underground mining and large shovels to its line of products and further solidified its standing as the leading mining equipment manufacturer in the world with solutions for every aspect of mining. When Caterpillar spent $8.8 billion to acquire Bucyrus, the global mining business was flourishing, as mining companies around the world worked to keep up with demands for nearly every commodity. Flash forward to 2013, and the global mining landscape looks very different. Lower demand for raw material from China and India and falling commodity prices have forced most mining companies to pull back on their production. The reductions from the mining industry have hit equipment makers like Caterpillar and Komatsu hard. In October, Caterpillar reported that its quarterly earnings had fallen 44 percent. The changing conditions have also changed the narrative from Caterpillar and other equipment makers to customers from offering solutions to move the most tons per hour, to now offering solutions for the lowest cost per ton. In September, Caterpillar hosted some of its mining customers and the trade press at its Tinaja Hills Demonstration and Learning Center near Tucson, AZ to talk about its range of products, from its MineStar System designed to help increase efficiency through better equipment management and planning, all the way up to the massive Cat 7495 and 7495HF electric rope shovel lines acquired through the Bucyrus takeover

Dec 1, 2013

By Robert G. Page

"Stabilization" of copper differs from sin in at least one respect - no one seems to be against it. Every time a tycoon in the producing industry pontificates on the economic history of copper, or prophesies its future, he is likely to praise the virtues of "stabilization". Consumers of copper constantly bemoan fluctuations in the supply and price of the metal. Governments in some producing countries, to a greater or lesser degree dependent upon exports of copper for foreign exchange and upon taxation of copper profits for substantial parts of their budgets, are perhaps more eager than any other group for "stabilization".

Jan 1, 1962

By A. Khan

The effect of sulfur dioxide on collectorless and collector induced flotation of chalcopyrite was studied by cyclic voltammetry on a rotating disc electrode. Contact angle measurements were made to determine the effect of sulfur dioxide concentration and electrochemical treatment. The benefits of sulfur dioxide in enhancing the selectivity of separating chalcopyrite from complex sulfide ores are discussed.

Jan 1, 1996

By S. S. Klima, J. A. Organiscak

Researchers at the National Institute for Occupational Safety and Health (NIOSH) performed laboratory testing to examine and improve airborne dust capture and methane removal performance of flooded-bed scrubbers on continuous mining machines using a blowing face ventilation configuration to reduce respirable dust exposure to shuttle car operators. Several testing conditions were examined to minimize shuttle car operator dust exposure without adversely affecting continuous miner performance and production. Curtain-to-face setback distance of 9.1 m versus 15.2 m (30 ft versus 50 ft), face ventilation airflow of 226.5 m3/min versus 339.8 m3/min (8,000 ft3/min versus 12,000 ft3/min), and the use of side-body-mounted blocking sprays (on versus off) were the three primary parameters compared. Scrubber airflow was set and maintained at 198.2 m3/min (7,000 ft3/min) throughout testing. An examination of slab cuts versus box cuts and the location of the shuttle car (present behind the continuous miner versus not present in the entry) was also performed to demonstrate the effects of these constantly changing scenarios on scrubber performance. Results show that the best blowing face ventilation setup for minimizing shuttle car operator dust exposure for the tested parameters uses a 15.2-m (50-ft) curtain-to-face setback with 339.8 m3/min (12,000 ft3/min) face ventilation while operating the side-body-mounted blocking sprays. INTRODUCTION Coal mine worker overexposure to respirable coal dust continues to be a problem in U.S. underground coal mining operations, potentially leading to coal workers’ pneumoconiosis (black lung). The U.S. Mine Safety and Health Administration (MSHA) requires that respirable dust exposure to coal mine workers does not exceed a 1.5 mg/m3 average over the actual working shift (79 Fed. Reg. 24814 (2014)). Although using a blowing face ventilation configuration on continuous miner (CM) sections is beneficial for removing methane emissions from the mining face, it can be detrimental for dust control for shuttle car (or ram car) operators and any other workers on the return ventilation side of the CM when compared to exhausting ventilation. Even with machine-mounted scrubbers on CMs, shuttle car operators still have some of the higher dust exposures with blowing face ventilation systems (NIOSH 2011, Beck et al. 2015). Although scrubber discharge air is not completely clean, dust being blown around the scrubber inlet and therefore not being captured by the scrubber can further increase these dust exposures (Goodman 2000). Dust control problems are also caused by inadequate face ventilation quantities causing scrubber face airflow recirculation issues (Schultz et al. 2010). In order to minimize respirable dust exposures on blowing face ventilation sections, ventilation, water spray, and scrubber parameters were experimentally examined to improve operating ranges for both dust and gas control. Several blowing face ventilation factors were examined with respect to CM spray systems and scrubber operation. Curtain-to-face setback distance and side-body-mounted blocking sprays were previously examined in the laboratory for dust control on a full-scale CM model using a scrubber on a blowing face ventilation system (Goodman 2000). The blocking sprays produced larger dust reductions at the CM’s rear corners and return for a 6.1-m (20-ft) curtain setback distance as compared to a 12.2-m (40-ft) curtain setback distance with equal face and scrubber airflows of 169.9 m3/min (6,000 ft3/min). Because face ventilation airflow quantities, shuttle car operator locations, and tracer gas concentration gradients were not previously examined during these experiments, additional research was required to determine improved operating parameters for blowing face ventilation systems.

Jan 1, 2019

By Charles F. Herbert

It is difficult to decide who most deserves credit for discovery of a mining district that has produced over 19.8 Mg (7,000,000 fine oz) of gold and still contains a large reserve of low grade ore. Fred Culver may have made the first discovery. In the summer of 1867, the ship&apos;s log of the Hudson&apos;s Bay Co.&apos;s steamer Otter stated that Fred Culver had been found nearly lifeless from wounds, without provisions, but with some 2.3 kg (80 oz) of rough, placer gold in the bottom of his canoe; he told of finding a rich creek and an attack by Indians that caused the death of his two companions. The place of rescue was about 24 km (15 miles) southeast from the present site of Juneau. Possibly John Muir, the hero of modem environmentalists, should be given important credit. In 1879 he reported finding mineralization along what later became to be known as the Juneau Gold Belt, and it was his report that induced the cantankerous German mining engineer, George Pilz, to grub- stake some of the prospectors who had drifted into Sitka from the declining gold placers of Cassiar, British Columbia. Pilz also offered rewards to Indians who might report gold discoveries.

Jan 1, 1990

By B. Alegria

The depressing effects of different inorganic chemicals on the flotation of pyrite have been investigated in this study. The results of the flotation tests indicate that pyrite can be depressed by oxidizing as well as reducing agents under controlled conditions of pH and reagent dosage. Oxidizing reagents such as potassium chromate and potassium dichromate were found to cause complete depression of pyrite in the acidic pH range. These effects are similar to those obtained in the pyrite-cyanide system. A less stable oxidant, potassium permanganate, inhibited the flotation of pyrite at a concentration as low as 0.1 mol/L at all pH values, Addition of reducing chemicals such as ferrous chloride or manganous sulphate to the flotation of pyrite were found to produce depressing effects depending on the additive concentration and pH of the solution.

Jan 1, 1982

By Tom L. Enos

Increased production through the plant was limited due to thickener circuit constraints. To overcome these constraints and maximize plant throughput to match grinding circuit capability, two options were considered: A. Adding 2000 TPD CIL circuit to operate in parallel with the existing CCD circuit. B. Adding a CIL circuit to treat the entire 4600 TPD while retaining some thickeners for tailings thickening. Option B was selected based on simplified plant operations, reduced operating costs, minimal capital requirements, reduced solution losses, and bullion grade improvement.

Jan 1, 1989

By R. J. Pindred

Discussion by R.J. Pindred In his paper, Davis presents an overview of risk. He also introduces the Capital Asset Processing Model (CAPM) as a foundation for selecting the appropriate discount rate for a mining project. While applying portfolio theory is more defensible than the ad hoc adjustment of discount rates, the CAPM is not a panacea. CAPM shortcomings [The CAPM, as Davis stated, is expressed in the equation: ri=rf+pi4) where ri is the project discount rate rf is the risk free interest rate (3i is the project beta, and 0 is the market risk premium (rm - rf)] Application of the CAPM is more difficult than Davis indicates. Valuation is prospective, while the CAPM parameters are historical. Beta is determined from a regression analysis of historical data, while the beta needed for valuation is the expected beta. Betas are known to be unstable and the regressions that generate them often have low explanatory power. The difficulty of estimating a "project" beta must also be considered. Thus, the beta that is used in the CAPM will be based on the analyst&apos;s judgment. Like Cavender&apos;s discount rate, this judgment can lead to different project NPVs. Subjectivity in valuation cannot be avoided by a mechanical application of the CAPM. The risk-free rate, which Davis identifies as a short-term real rate of 4%, is also subject to scrutiny. A mining project is not a short-term investment and no single risk-free rate is appropriate for all of the cash flows. The hypothetical mine discussed in Cavender&apos;s paper is a six-year project. One might argue for the application of a risk-free rate from the Treasury yield curve at the duration of the project (in a bond-duration sense). This, too, is inappropriate. The risk-free rate should be matched to the timing of the cash flow. These rates can be determined by calculating the implied forward rates from the yield curve using a procedure known as "bootstrapping." It is likely that each of the project&apos;s cash flows would be discounted at a different rate. Commodity prices Davis criticizes the "ad hoc adjustment to the discount rate." Yet, in his discussion of the value of stochastic simulation, he suggests that the gold price be modeled as a "random walk, with or without a trend." This is essentially an arbitrary modeling of price risk. Consider that a liquid market in gold futures exists. The futures&apos; price curve, which is closely related to the market&apos;s estimate of future spot gold prices, should be used to provide inputs to the model. This is especially true of a relatively short six-year project. Alternatively, as Davis correctly points out, a risk-averse investor can sell the commodity short to hedge price risk. Is it any more correct, in the portfolio sense, to account for price risk at all ?? References Cavender, B., 1992, "Determination of the optimum lifetime of a mining project using discounted cash flow and option pricing techniques," Mining Engineering, Vol. 44, No. 10, pp.1262-1268 Fabozzi, F.J., 1993, Bond Markets, Analysis and Strategies, Second Edition, Prentice Hall, Inc. Higgins, R.C., 1992, Analysis for Financial Management, Third Edition, Richard D. Irwin, Inc. Solnik, B., 1991, International Investments, Second Edition, Addison Wesley Reply by G.A. Davis Pindred discusses two issues related to my paper, the shortcomings of the Capital Asset Pricing Model (CAPM) and which commodity price values to use in the valuation exercise. Even though these topics are not directly related to the use or misuse of Monte Carlo simulation, they are important points to take into consideration in valuation exercises. Since I do not appear to have addressed these issues satisfactorily in my original paper, I will comment on each here. Pindred agrees with me that applying portfolio theory, and specifically the CAPM, to the selection of project discount rates is more defensible than ad hoc methods. But he then points out that the application of the CAPM to project valuation is more difficult that I indicate. It is true that the CAPM is a difficult tool for project valuation in general,. But the application of the CAPM to mining projects is one of the easiest I can think of. The biggest problem with using the CAPM for project valuation is coming up with an expected project beta. I suggest a project beta for gold projects of 0.45. The "true" value might be 0.35, 0.55 or whatever. Pindred correctly notes that the selection of the appropriate project beta is based

Jan 1, 1996

By John R. Riede

Most modern crushing and grinding facilities are automated to some degree. Some, of course, have a very minimum of automatic control whereas others utilize very complex control equipment. However, with very few exceptions, the re has not been a new basic control philosophy applied in this field in the past seven years. The philosophy has been broadened in scope and applied to larger plants, some of them with data logging and so- called computer control, but almost always the same tried and proven basic control philosophy is the basis for the control system. New types of control devices to better implement the automatic control have been developed and are continuing to be developed. These devices and their application will be explained and the advantages and disadvantages of each will be discussed. Automatic lubrication of plant equipment is most essential, but this paper will not cover these systems. The use of data logging and computer analysis of the data obtained is fairly recent and it is hoped that by careful analysis of this information that new and better basic control philosophy will be forthcoming. This paper will describe the basic philosophy applied in its simplest form to several types of crushing and grinding equipment, and it will describe how it is being expanded to more complex systems. Some of the economics with regard to first cost, return on investment and maintenance will be covered.

Jan 1, 1965

By James Withers, Dongbo An, Jinhong Zhang

A micro-scale investigation was carried out by applying an atomic force microscope (AFM) and attenuated total reflectance Fourier transform infrared (ATR-FTIR) spectroscopy to study in situ the adsorption of three different collectors — oleic acid, octanohydroxamic acid (HA) and salicylhydroxamic acid (SHA) — on bastnaesite in aqueous solutions. The results show that all three collectors adsorb on bastnaesite. The hydroxamic acid collectors — HA and SHA — adsorb on bastnaesite mainly in the form of insoluble metal hydroxamate. Their specific adsorption mechanism indicates that high selectivity will be achieved with a hydroxamic acid collector for the flotation of bastnaesite.

By Richard D. Nichols

A new method of slaking lime has been developed by DENVER EQUIPMENT DIVISION of Joy Industrial Equipment Company and patented under U. S. Patent 4,261,953. The new method utilizes an attrition machine, commonly used in mineral processing circuits as a sand scrubbing device, to slake lime. The scrubbing effect of the attrition slaker continuously produces a fresh reactive surface so that further slaking may occur. This process allows for utilization of slaking all grades of burnt lime and most grades of dolomite lime. Testing indicates that poor grades of water usually not considered for this service can now be tolerated using the attrition slaker. The slaked lime produced is of higher quality, faster reacting and much less apt to produce scaling problems than previously experienced. The attrition slaker can be combined with a spiral classifier and ball mill to eliminate any need for grit handling or grit removal. The attrition slaker can be designed for all burnt lime tonnages up to the limit of 175 tph and 1" pebble lime size. Control can be maintained easily with minimal operator assistance. The equipment, the principals of process metallurgy, and the above topics will be presented.

Jan 1, 1982

For the past two years, Cliffs Natural Resources in Minnesota has tried an experiment: it has staffed a booth at the Iron Range Earth Fest. ?It was a little unusual for a mining company to participate in an event that centers around preserving the Earth?s resources,? said Julie Lucas, environmental manager at Hibbing Taconite Company. ?But Cliffs is a sustainable company and we want to take every opportunity to share information about our practices. We found the response to be overwhelmingly positive.? Cliffs? outreach effort is just one of the surprising ways mining companies across Minnesota are reaching out to stakeholders and finding success. The 85th annual SME Minnesota Section Meeting (73rd Annual University of Minnesota Mining Symposium), held April 17-18 in Duluth, MN, demonstrated the Minnesota mining community?s commitment to connection and collaboration, and how that approach is bringing success.

Jan 1, 2012

Evver since it first displayed an autonomous mining truck at the 1996 MinExpo show in Las Vegas, NV, Caterpillar has been building the blocks to a fully autonomous mine. In May, the company unveiled another block in that progression, the new Cat MineStar System that it says is ?the industry?s broadest, most comprehensively integrated miner operations and mobile equipment management system.? The full system is comprised of five capability sets ? Fleet, Terrain, Detect, Health and Command ? to help operators define the size and scope of their management system based on the needs of their mining operations. Michael Murphy, technology and autonomy manager for Cat Global Mining, explained that the customers were not ready for an autonomous mining truck in 1996, but that many customers wanted the building blocks to eventually get to autonomous mining. After 15 years of work, Murphy said the building blocks have come together in the form of the Cat MineStar System.

Jan 1, 2011

By R. C. Kirkman

Your interesting and well-written paper brings up the issue of the purpose or use of a mineral property appraisal, specifically the value of these evaluations when the quality and quantity of the mineral resource to be exploited have not been thoroughly investigated. I am not a practicing professional in regards to valuation of limestone investment opportunities. I simply wish to make a few generic observations about the appraisal process in order to stimulate meaningful thinking by appraisal professionals whose reports may be reviewed by professional investors and "laypersons" alike. It is my contention that the analysis given in your paper is very thorough, considering the data that was made available to you. But I would not like to be the person responsible for investment decision making without having a feel for the risk involved. Therefore, the reviewer must classify this type of analysis as relatively "subjective" because they have not received an indication of the inherent risk involved in exploiting a mineral resource. This risk can best be quantified by using probabilistic methods in conjunction with the quality and quantity of the mineral to be produced. Most appraisals passively ignore this problem. Specifically, you have accurately identified the various costs and values entering the economic appraisal process. These can usually be quantified with a great deal more certainty than the capability of the resource to provide 25 years of quality material. Also, in Cases A (West Virginia)and B (Alabama), you are fortunate enough to have previous operations data. What if there had never been production from these properties? How does a potential mineral property investor evaluate the resource capability to meet various projected financial outcomes without spending a good deal of up-front capital to drill and delineate enough quality resources for a 20-plus year operation. These questions pose a substantial risk to any potential mineral investor. Only probabilistic methods should be used to quantify this type of problem, short of drilling and metallurgical testing. I might be considered a "layperson," not being familiar

Jan 1, 1991