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By Eric Low

Raising capital by issuing debt or equity is necessary in almost every corporation. In the field of corporate finance, the raising of capital is a heavily-studied topic. However, some of what is studied on this topic in corporate finance is not applicable in the mining industry. There are also many financing options that were created for the mining industry such as flow-through shares, prepaid forwards, and royalty sales. The cyclical nature of the industry makes the risk-return profile of financings more difficult to estimate than in other industries. Additionally, the methods used to assess firm value are different than other industries, as the values of orebodies are not included on balance sheets. For precious metals companies, which are a hedge against most other securities, there are additional complications with determining investor expectations and cost of equity. This thesis puts forth a decision-making framework to explain mine financing choices from the perspective of mining companies. The approach is threefold. First, all of the major equity and debt financing instruments available to mining companies are presented and analyzed. Each financing method is assessed on a wide range of criteria. Next, these concepts are applied in case studies of four companies: BHP Billiton, Barrick Gold, Teck Resources, and Noront Resources. For each company, the overall choice of financing methods is shown and analyzed. The effect of financing choices on the weighted average cost of capital (WACC) is calculated. The final section deals with case studies of individual mine finance decisions during the past two years.

May 1, 2011

By P. Somasundaran, D. R. Nagaraj, Tarun Bhambani, P. Patra

Flotation separation and recovery of value minerals from ores containing fibrous silicate minerals are known to be quite challenging. Earlier studies have established that the metallurgical challenges (poor selectivity and recovery, high energy consumption, etc.) arise from the impact of the fibrous minerals (with high aspect ratio) on pulp rheology, which was found be rather complex. The complex rheological behavior of ore suspensions containing particles with high aspect ratio and its influence on flotation outcome are investigated in this study. Flotation tests and rheological measurements were carried out with both ores (containing fibrous minerals) and a model system comprising nylon fibers (chemically inert) added to a copper ore that had no fibrous mineral. These studies allowed the determination of contributions of physical properties of the fiber to pulp rheological behavior. Optical microscopy images of the fiber pulp indicated that the fibers entangled to form two levels of microstructures: two-dimensional (2D) aggregates under semi-dilute (< 20% solids) conditions and three-dimensional (3D) microstructures at concentrations > 30% solids. The yield stress (σ) values determined for the fiber pulp were logarithmically related to the volume fraction of the 2D/3D structures. The relationships developed here for different ARs showed that the yield stress of a flotation pulp changes with respect to shape, size, and the concentrations of the microstructures. Implications to the effects of such entangle networks on selectivity of flotation separation are discussed.

By Phillip J. Mackey, Gerardo R. F. Alvear F.

It is now 38 years since the publication of the first edition of "Extractive Metallurgy of Copper" by Professor W.G. Davenport and the late Professor A.K. Biswas. The text book would be issued in a total of five editions, soon became the standard for students and those in industry. Interestingly it was published at the onset of great change in the industry. This was a time when sulphur dioxide controls in the USA were introduced, and almost simultaneously, world oil shocks caused significant increases in the cost of fuel - all leading to efforts to adopt new technology and move away from the reverberatory furnace, which had no potential for sulfur capture and required large amounts of fuel. At the time of publication of the book, new processes such as the Noranda Process and the Mitsubishi Process were in their infancy, while flash smelting (which was first commercialized in 1949 at Harjavalta, Finland) had made significant in-roads in boosting copper output, with some 22 new flash smelters licensed by 1976. Computer technology and associated process control techniques were rudimentary compared to systems today, available physico-chemical data remained largely in tabulated format and needed to be manually entered into the main frame computers of the era, while modeling techniques common today had not yet been developed. The copper industry has therefore seen immense changes since the time of this textbook: world tonnage of smelted copper has risen from 7.34 million tonnes/year in 1976 to 16.7 million tonnes/year in 2012, over a two times increase. Technologies such as the El Teniente Process, or Top Submerged Lance technologies, typified by the ISASMELTTM, not commercialized at the time, now treat large tonnages of copper concentrate in a single furnace. Advanced heat and mass balance software and thermochemical modeling are now used extensively to examine chemical and physical characteristics for process design and to support process optimization. These changes in the industry have been chronicled in subsequent editions of the book. This paper looks at the issues and problems seen in 1976 and over the intervening years, and compares this with the challenges facing the industry with the available tools and technologies today. Some ideas looking into the future are also discussed in the paper.

Jan 1, 2014

By E. Sharifi

Advanced Process Control (APC) has been one of the most beneficial tools in the past decades available to minerals processing industry. Low capital cost together with significant improvements in process optimization have made APC an attractive investment option for nearly all mineral processing units. During economic downturns, importance of process optimization becomes even more relevant as metal producers tend to target de-bottlenecking and process efficiency improvements rather than large-scale capacity upgrades. APC project clearly has a lot of potential to improve process performance but there are also some pitfalls to be identified and avoided in order to achieve a desired outcome. Above all, APC project implementation is collaboration between the system vendor and user. Targets for the optimization must be agreed together with the customer and process performance must be defined before and after the optimization project. Most importantly, performance of the process must be monitored on a continuous basis during and after the project and potentially improved further. This paper discusses Outotec’s experiences from various concentrator optimization projects. Some examples are discussed in more details; however, the main target is to present general guidelines enabling a successful APC project implementation.

Jan 1, 2014

By Rick Wilkins

The stability of steep embankments is a major safety issue in open pit mining, highway passes, and earth filled dams. A failure in any one of these situations could mean a loss of very expensive equipment, a long term inconvenience, and more importantly, a loss of life. These possible catastrophes could be avoided by installing a reliable real time monitoring system. Robotic total stations (RTSs) give one possible cost effective solution to creating a near real time monitoring system. Repeated surveys at predetermined time intervals can automatically generate warnings if slope movements exceed a preset tolerance level. The variation in atmospheric refraction, combined with possible instabilities in reference targets, can make a monitoring system based on RTSs produce false alarms. A methodology has been developed at the Canadian Centre for Geodetic Engineering (CCGE) for reducing these systematic error effects. The methodology has been realized in the creation of a software package that has been successfully implemented at large earthen dams in California and at an open pit mine operation in British Columbia.

May 1, 2002

By J. D. Miller

Characterization of feed material with respect to expected concentrate grade and recovery is fundamental to the design of improved separation efficiencies and to achieve sustainable development in the utilization of our mineral resources. An important reference point for this characterization is the liberation-limited grade/recovery curve which represents the perfect separation, the best separation which can be achieved for a given feed material limited only by the extent of liberation. Now, liberation-limited grade/recovery curves can be determined based on 3D mineral liberation analysis of feed material. Thus, actual separation efficiencies can be compared to what might be expected for a perfect separation limited only by the extent of liberation. It is shown that 3D mineral liberation analysis based on X-ray micro CT (XMCT) is preferred to 2D section analysis which overestimates the extent of liberation. By way of example, procedures and experimental results are presented and discussed for feed material in the case of phosphate rock flotation.

Jan 1, 2009

By Faan Bornman

"Reeves and Platt1 stated that dense medium separation is one of the most complex unit processes in mineral processing today particularly if cyclones are used. It is also the most efficient gravity concentrating process available to process engineers. The complexity of the process and large number of design and operating variables means that the process has largely remained more an art than a science. Dense medium separation is well established in the diamond, coal and iron ore industries but is gaining popularity as a pre-concentration step in other industries. The maintenance issues are addressed that will affect the efficiency of the operation.INTRODUCTION The purpose of the dense medium separation (DMS) process is to separate the valuable material from the waste based on gravity differences. However, the specific gravity difference between the two fractions must be large enough to achieve high efficiencies. Heavy particles sink through the dense liquid and light particles float. DMS is also used for the pre-concentration of minerals before further downstream processes like communition, in order to minimise the treatment costs. Examples are the pre-concentration of diamond ores or metalliferous ores like nickel, copper and cobalt. Dense medium separation is also used to upgrade the material to meet different market specifications, for example in coal and iron ore applications. A typical dense medium separation process for a diamond application is shown in Figure 1."

Jan 1, 2014

By R. A. Hill, J. D. Pitts

"Long distance slurry pipeline systems have been successfully trans-porting steam coal, iron concentrates, copper concentrates and limestone for an aggregate of nearly 60 years and nearly three billion ton-miles annually. A phosphate concentrate pipeline is nearing start-up and systems for coking coal, lead/zinc concentrates and fly ash are planned. The solids pipeline concept, first patented in the early 1900's and commercialized in the 1950's, is now a proven technology providing an economic, environmentally pleasing and safe method for long distance bulk transport.The challenge for larger tonnage and longer distance movements of solids, for traversing increasingly rugged terrain in grass roots mineral developments, for transporting untried materials and for shipping more economic forms of proven materials still remains. This has necessitated continued refinements and optimization of the technology. The economic and environmental incentives for slurry pipelines when compared to other transport alternatives has justified substantial activity in this area. The scope of planned systems in coal, iron and other minerals is indicative of the firm place slurry pipelines will have in worldwide mineral development.In this presentation, the state-of-the-art in long distance slurry pipelines is reviewed with a focus on major systems of interest to the mineral processing industry. An overview of new developments in the application of this concept is presented, and finally, a projection of the future of pipelines in mineral development both worldwide and in Canada is discussed."

Jan 1, 1978

By D. Grobbelaar, A. Cichowicz, D. J. Birch

The Q-coda method for estimating the quality factor Q(f)= Qo(f)n was used to characterize seismic wave attenuation in a region of the Kaapvaal Craton that includes the mining areas of the Bushveld Complex and Witwatersrand Basin. Seismic waveform data, collected by locally distant stations of the South African National Seismograph Network (SANSN), consisted of mining-related events with magnitudes ranging from ML 1.8 to ML 4. Q was calculated for nine different source-receiver pairs spanning the study region. A weighted average Q based on the number of available data gave an estimated attenuation relation for the study region of Q(f) = 327 f 0.81.

Jan 1, 2015

By S. Eck

In previous work the influence of the casting speed on the flow field and the shape of the solidification front in an industrial 0.82 x 0.25 x 0.8 m³ bronze caster had been investigated. Both numerical and experimental model represented 1:1 the real caster geometry. A comparison of the results of both numerical and experimental models for the flow during the casting process showed a good agreement in the qualitative velocity fields (flow direction and vortex formation). This work represents a parameter study of the numerical model with variations of the turbulence conditions at the inlet in order to clarify their influence on the flow field in the caster. In order to find the best boundary condition at the inlet, the numerical calculations for water have been compared with the measured flow fields in the water model. The new boundary conditions were then applied to the numerical model of the bronze casting process.

Jan 1, 2009

By F. Mendaña

The characteristics of the igneous and metamorphic bedrock, extra-hard and abrasive, of the Guadarrama Tunnels, a bi-tube project of length 28.4 km without any intermediate attack, are first commented upon. Next, a detailed discussion is given of the most relevant aspects of the performance of the four double shield type TBMs. The experience of this leads to various recommendations to be borne in mind in future designs of TBM having to work in rock of similar characteristics.

Jan 1, 2007

By Khaled Morsy

In the past two decades, high horizontal stress has been attributed to many ground control failures. Most believe that entries parallel to the high horizontal stress is most stable and least stable when perpendicular to it. Entry stability decreases when the angle between entry and horizontal stress increases. The concept of 2-D stress shadow has been proposed for selection of proper panel orientation, often with mixed results. In this paper 3-D finite element modeling was used to analyze the stress distribution at the headgate of a longwall panel subject to high horizontal stress at various angles. It was found that the directions of induced principal stresses at the longwall face and headgate are independent of the panel orientation. The induced principal stresses concentrate or relief at headgate based on the panel orientation with respect to the directions of the induced principal stresses. Accordingly, only 3-D modeling can fully account for the effects of high horizontal stress on panel orientation. The paper illustrates in details the changes in orientation and magnitude of all three principal stresses around the longwall face and T-junction area as panel orientation changes.

Jan 1, 2006

By F. Dahl, P. Raleigh, J. Holzhauser, B. Nilsen

Tunnel excavation using tunnel boring machines (TBMs), has become increasingly common in recent years, despite the fact that precise evaluation of certain risks have not kept pace with the use of these machines. One of the risks easily overlooked by Engineer and Contractor alike are the effects of abrasive ground on the costs and schedule of a given project. The impacts of worn and damaged TBM cutter heads have been observed on hundreds of tunnel projects around the world. It would appear that a reliable prognosis of the abrasiveness of soils on a project would be of great importance for designers, clients and contractors alike. Several well acknowledged test and prognosis methods already exist for rock, however there is only very limited knowledge available to describe the abrasiveness of soil and its impact on soft ground TBMs. This paper will examine approaches to this problem and suggest a new approach based on a current project undergoing design.

Jan 1, 2007

By Russell E. Griffin

Dielectric constants and dissipation factors were measured by the Bureau of Mines for 13 simulated lunar rocks over the 20-to 100-megahertz frequency range by means of the susceptance-variation method. Measurements were made at room temperature and normal atmospheric pressure. Results are presented and some comparison is made with data reported by others. The rocks used include a broad range of physical characteristics and chemical compositions from the large areas of volcanism in Oregon and northern California, and two nonvolcanic types. These rocks make up a suite of rock standards used by a group of laboratories engaged in lunar research. The data presented will add to the basic scientific and engineering knowledge needed to utilize extra-terrestrial mineral resources for support of future space missions.

Jan 1, 1974

By Yi Luo, Jian Yang, Hua Jiang

Surface subsidence induced by underground coal mining activities, especially longwall mining operations, can cause various problems to interstate highways ranging from structural integrity, drivability to safety. Accurate subsidence prediction, correct influence assessments, and effective mitigation measures are the keys to ensure the safety of highway traffic. The surface subsidence prediction program, called comprehensive and integrated subsidence prediction model (CISPM), was developed based on the principle of influence function method and has been validated with a large number of subsidence measurements. In this paper, the techniques to use the predicted final surface movements and deformations for assessing their influence on the integrity and functionality of highway structures (e.g., road surface pavements, concrete slabs, transverse joints, etc.), vehicle dynamics, comfort level, and drivability are presented. A number of mitigation measures to protect the highway structures and to ensure traffic safety are proposed along with an application case.

Many mines in Canada, the US and S. Africa are reaching the hoisting limit. Very little payload will be possible without compromising safety due the excessive weight. It has been suggested (DeLorme, 2000), that one of the most attractive concepts to enable deeper hoisting is to reduce the allowable factor of safety in the wire rope. Researchers at the Spokane Research Lab are developing new technology to improve hoisting safety and productivity by providing new monitoring and analytical tools. A Shaft Conveyance Monitoring System (SCMS) has been developed which determines hoist rope end load, true conveyance position and acceleration, and rope safety factor, as well as other hoist operating parameters. This information is transmitted to the hoist operator display 20 times per second. Recent field measurements on 45 mm(1 ¾ in.) diameter hoist rope indicate that dynamic forces during loading of a 9000 kg(10 ton) skip may exceed the safety factor of the rope. To improve on the current understanding of the mechanical behavior of hoist ropes, and to help interpret the results from field-testing of the SCMS, a new approach to computer modeling of stranded wire rope is also being developed. Particle Flow Code, PFC3D (Itasca 1995b) is used to simulate the structural behavior of wire rope and the interaction between individual strands when the rope is subjected to static and dynamic end loading. Details of the SCMS, field results from the measured rope loads, and the results of numerical modeling on the wire rope will be discussed.

May 1, 2002

By M J. Kongas, K M. Saloheimo

This paper presents the art of on-stream particle size and elemental analysis used at iron ore concentrators, followed by the results and experiences from several sites.Online particle size analysis is rather common at medium- to large-sized concentrators. Online X-ray fluorescence (XRF) elemental analysis, however, is only used in some iron ore concentrators, while it is a routine practice in base metal concentrator plants. Online XRF analysis is applicable for process monitoring and control down to four to five per cent silica by measuring Fe assays accurately. With lower silica content, direct measurement of silica and other light elements is required. Some light element analysers that are based on the prompt gamma neutron activation analysis (PGNAA) method have been developed, but they have not performed up to expectations with slurry analysis. Other methods have been tried though these have not been used beyond prototype installations. Operating online light element slurry analyser installations are not common in iron ore applications.There is an economic incentive to mine lower and variable grade iron ore resources, which require concentration and removal of several impurities to produce high-quality concentrates for pellet production. Monitoring such operations by on-stream analysis has significant economic benefits, and there is a need to develop a dependable slurry online analyser for Si, Al, Mg and other light elements. The latest developments in slurry on-stream light element analysis are described.CITATION:Kongas, M J and Saloheimo, K M, 2013. Online slurry analysis for process control and monitoring at iron ore concentrators, in Proceedings Iron Ore 2013 , pp 303-308 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By Alain Pecker

The choice of a design concept for a bridge foundation is guided by various factors; several of these factors are indeed of technical origin, like the environmental conditions in a broad sense, but others non technical factors may also have a profound impact on the final design concept. The foundations solutions adopted for the Rion Antirion bridge are described and an attempt is made to pinpoint the major factors that have guided the final choices. The Rion Antirion bridge is exemplar in that respect: the foundation concept combines the simplicity of capacity design, the conceptual facility of construction and enhances the foundation safety. The design of these foundations was a very challenging task which required full cooperation and close interaction with all the parties involved: concessionaire, contractor, designers and design checker.

Jan 1, 2005

By Yi Luo, Jian Yang, Hua Jiang

Surface subsidence induced by underground coal mining activities, especially longwall mining operations, can cause various problems to interstate highways ranging from structural integrity, drivability to safety. Accurate subsidence prediction, correct influence assessments, and effective mitigation measures are the keys to ensure the safety of highway traffic. The surface subsidence prediction program, called comprehensive and integrated subsidence prediction model (CISPM), was developed based on the principle of influence function method and has been validated with a large number of subsidence measurements. In this paper, the techniques to use the predicted final surface movements and deformations for assessing their influence on the integrity and functionality of highway structures (e.g., road surface pavements, concrete slabs, transverse joints, etc.), vehicle dynamics, comfort level, and drivability are presented. A number of mitigation measures to protect the highway structures and to ensure traffic safety are proposed along with an application case.

By George Koenig

I have been granted the outstanding privilege... and pleasure to introduce you this evening to the Grand-Duchy of Luxembourg and to tell you in a few words how this country came into existence, how it managed to survive and what role it nowadays plays in the International Community. Luxembourg, situated between Belgium, Germany and Prance is a small, a very small country... just a dot on a map. After all, it is only a matter of 62 miles from top to bottom and 37 miles across at it&apos;s widest... barely covering some thousand square miles... so be careful about stepping on the accelerator... you might be in and out without having realized it... which would be a real shame as the Grand-Duchy enjoys a fairly unique geographical feature in so far as it provides the visitor with an outstanding variety of scenery concentrated in a minute spot.

Jan 1, 1987