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By Michael W. Lewis

The latest downturn in the world’s metal prices has forced many mining companies to focus on cost reduction and productivity improvements to remain competitive. Maintenance represents a significant part of the overall operating costs in the mining industry. A structured, proactive maintenance approach, such as reliability-centered maintenance, can achieve cost reductions and productivity improvements. Remote condition-monitoring systems are becoming commonplace because they have the potential to identify problems before failure. Detection of equipment degradation before failure will enable repairs to be scheduled, thereby reducing costs and interruptions to production. The mining industry is in the midst of uncertain times. Decreasing commodity prices, demand, head grade and capital availability along with increasing environmental requirements have put pressure on mining companies to significantly reduce costs to maintain short- and long-term viability. Corporations are looking at expansion, merger/consolidation and financial/hedging programs to achieve these cost reductions. Mines are reducing costs by eliminating all but essential expenditures, increasing production levels, reducing overtime and investing in new technologies.

Jan 1, 2000

By William Crowe Kellogg

By now the term AFMAG has been fairly well introduced to the mining industry. Several papers have been presented and published concerning AFMAG (references 1 and 2). However, the term AFMAG remains rather new to the industry, and the exact place which AFMAG occupies in the minerals exploration field is still somewhat uncertain in the minds of many who may have use for this new and interesting method of electromagnetic exploration for conductive minerals. It is the purpose of this paper to again review the basic theory of the AFMAG system, to describe and - illustrate the equipment and data presentation as used in aerial surveying, and to provide some idea of the cost and nature of airborne AFMAG surveys. This paper is primarily of a general descriptive nature and presents AFMAG theory in a schematic rather than mathematical form; emphasis is placed on the equipment, the present method of data presentation and survey operations, since it is believed that such, information will now generally best serve to inform the mining industry of the characteristics of the AFMAG system.

Jan 1, 1960

By V. McLemore, N. Dunbar, K. Donahue

There are three principle lines of evidence that indicate the clay minerals found in the Goathill North (GHN) rock pile at the Molycorp mine are predominantly a product of hydrothermal alteration, not weathering. The unweathered drill core and samples from GHN have similar types and abundances of clay-mineral groups based on XRD analysis. Chemical analyses from the electron microprobe reveal similar chemical compositions for the hydrothermal alteration clays in drill-core samples and clays found in the rock pile. Textural evidence gathered from petrographic and microprobe examination also suggests a hydrothermal origin for clay minerals.

Jan 1, 2007

By D. M. Ziebarth

"During the mid to late 1960s, the underground potash industry in Saskatchewan was born. For the next four decades the industry operated at a steady pace, supporting a large part of the world demand, until 2008 when the potash market heightened. Operators were motivated to capitalize on this increased demand, new mines were proposed while existing mines were planning upgrades. Potash Corp. of Saskatchewan (PCS) was one of the major producers planning upgrades to its production facilities quickly, including modifying the existing headframe and shaft at the PCS Cory Site to accommodate a new 1.5-kt/h (1,650-stph) hoisting plant. Upon completion of the project, the innovative operations group continuously reviewed methods to increase production and reduce operating costs, allowing PCS to continue being competitive on the world market.BackgroundPotash production is a major Saskatchewan industry and has played a significant role in the economy for more than 40 years. Production commenced in 1962 when water problems were overcome at the International Minerals and Chemical (IMC) Mine near Esterhazy, Saskatchewan. A surge of development by other companies resulted in 12 companies opening 10 mines by 1970. In 1975, Potash Corp. of Saskatchewan was created by the government of Saskatchewan, and shortly thereafter purchased several mines in Saskatchewan, including the Cory Mine, near Saskatoon.Cory has been in operation since 1968 and is located 12 km (7.5 miles) west of Saskatoon in central Saskatchewan. The mine is located in the center of the world’s largest potash deposit, 1,000 m (3,300 ft) below surface.PCS has embarked on sizable capital expansions of more than CDN$7 billion.The $1.6-billion Cory expansion was expected to raise operational capability of the site to 2.7 Mt/a (3 million stpy), an increase of 1.9 Mt/a (2.1 million stpy). To achieve 2.7 Mt/a (3 million stpy) of finished product and considering the 22.6 percent average production recovery (Potash Corp, 2013), 12 Mt/a (13.2 million stpy) of ore must be hoisted to the surface for processing. To deliver this rate required upgrading of the hoisting plant to 1.5 kt/h (1,650 stph). To accomplish this ambitious challenge, creative thinking, careful planning and a cohesive team was needed to work together to ensure the schedule, budget and most importantly that the work was completed safely (Potash Corp., 2013)."

Apr 1, 2017

By Daniel H. McClain

A unique partnership between the Colorado Mine Safety and Training Program (CMSTP), the Colorado Rock Products Association (CRPA) and the Higher Education and Advanced Technology (HEAT)Center resulted in a video CD-ROM training program for new miners entering the aggregate industry. Cooperation from everyone involved, including the U.S. Mine Safety and Health Administration (MSHA),made this the product against which other training materials in the mining industry will be measured in the 21stcentury. This product’s versatility and wide application make it a tool that is as critical to a mine’s success as any earthmoving machine. The state and federal grant money involved allows this product to be affordable to small operators and independent contractors. The quality of this two CD-ROM set rivals any commercially made CD-ROM training.

Jan 1, 2003

By K. A. Stanley, N. A. Karl, D. R. Wilburn

"This summary of international mineral exploration activities for the year 2014 draws upon information from industry sources, published literature and specialists in the U.S. Geological Survey (USGS) National Minerals Information Center. The summary provides data on exploration budgets by region and mineral commodity, identifies significant mineral discoveries and areas of mineral exploration, discusses government programs affecting the mineral exploration industry and presents analyses of exploration activities performed by the mineral industry.Three types of information are reported and analyzed in this annual review of international exploration: 1) budgetary statistics expressed in U.S. current dollars provided by SNL Metals & Mining (SNL) of Charlottesville, VA; 2) regional and site-specific exploration activities that took place in 2014 as compiled by the USGS and 3) regional events that affected exploration activities including economic, social and political conditions, which were derived from published sources and discussions with USGS and industry specialists. Commodity and regional compilations are presented in this summary. Because multiple sources are used to develop these compilations, statistics may differ depending on the source and type of data that are being reported.The SNL data summarize planned company budgets for worldwide exploration activities in 2014 for 19 nonfuel mineral commodities based on company surveys. Research focused on precious metals (gold, platinum-group metals and silver), base metals (cobalt, copper, lead, molybdenum, nickel, tin and zinc), bulk commodities (iron ore, phosphate and potash), and specialty mineral commodities (diamond, lithium, niobium, rare-earth elements, tantalum and uranium). Information on uranium exploration activities was included for the first time in 2007. Data on lithium, niobium, phosphate, potash, rare-earth elements and tantalum were compiled for the first time in 2010 because of their increased significance. Since 1999, companies with exploration budgets of $100,000 and greater were included in the SNL compilations. SNL budget estimates exclude bauxite, coal and oil and gas. Exploration budget estimates for iron ore have been compiled since 2011 but reported separately. The 2014 SNL company survey is reported by SNL to cover an estimated 95 percent of the world’s nonferrous, nonfuel mineral exploration budgets. The 5 percent that is not covered includes companies that chose not to participate in the SNL survey, private companies that do not publish their budget data, and government-funded exploration activities"

Jan 1, 2014

"In addition to outstanding technical sessions and networking opportunities, the SME Annual Conference and Expo offers attendees a chance to see the latest and greatest technology that the industry has to offer. The 2017 SME Annual Conference and Expo was no exception as 575 companies filled 756 booths from Feb. 19-22 in Denver, CO. The following is a look at some of the vendors that were on hand.AIL MiningThe Edge, featured by AIL Mining at the 2017 SME exhibit, is a four-flange structural liner designed to be an alternative to structural plate’s traditional lapped seams and to help mine operators build more efficiently and safely. It is ideal for creating underground structures, such as mine shafts, ventilation raises and escape ways. The Edge is available on SuperCor structural steel plate — 10 times stiffer and five times stronger than traditional steel liner plate. It facilitates curved structures, both horizontal and vertical, and eliminates the need for ring beams. It is ideal for remote sites. For added safety, structures can be assembled from the inside, and the leak-resistant structures can be dismantled and removed easily. Brackets can be attached to mine shafts or vent raises to support Alimak rails or climbers. Similarly, brackets or hangers can be attached to drifts or tunnels to support mine air, water or electrical utility services.ArcadisMining companies spent nearly $12 billion on water infrastructure worldwide in 2014, reflecting the industry’s heightened concern about environmental issues and social, regulatory and political risks.So, with an increasing focus on water reuse and recycling, mining companies must have effective water management plans that include sustainable solutions. Also, many water quality issues fall under both state and federal regulatory jurisdictions. To solve these problems, Arcadis provides comprehensive ground- and surfacewater technical support in a complex hydrogeologic setting. It can characterize the nature and extent of mine-related constituents in ground water and surface water, as well as the complex interactions between the two waters, and prepare the operational permits needed by mine and tailings facilities. As an example, Arcadis constructed a hydrogeologic and geochemical conceptual site model that improved site understanding for a molybdenum mine in the western United States that spanned several watersheds. It also provided technical support for permitting and compliance issues, allowing the mine to return to active production."

Jan 5, 2017

By Micah Nehring, MEHMET KIZIL, Farzad Sotoudeh, Amin Mousavi, PETER KNIGHTS

Production scheduling in underground mines is one of the most important and complex processes in maximising the economic value of an operation over the life of the mine. Due to increasing energy, transportation, processing and smelting costs and reducing water availability, the extraction of ore deposits through underground operations has become more expensive and challenging. A potential productive and efficient solution to mitigate these issues is to integrate pre-concentration systems into the existing mining system to increase ore grades through a preliminary process of rejecting some waste before sending the ore to the energy intensive mineral processing plant. Further benefit of such systems includes the utilisation of the waste and low-grade material in backfilling of open stopes to reduce the transportation costs and surface environmental impact such as reduction of CO2 emissions and waste transportation. The objective of this paper is to present a new mathematical model to optimise the production schedule of underground metalliferous mining operations in the presence of a pre-concentration system. The proposed model optimises the production schedule and sequencing of stopes within a sublevel stoping operation. The results of this study illustrate the potential economic benefits of using a pre-concentration system prior to a mineral processing operation as a result of increased net present value.

Nov 16, 2023

The 28th annual American Mining Hall of Fame Awards Banquet and fundraiser sponsored by the Mining Foundation of the Southwest will be held at the Marriott University Park Hotel, Tucson, AZ on Saturday, Dec. 4, 2010. The Mining Foundation of the Southwest is a nonprofit organization whose objectives are public education about the mineral industries, and recognition of outstanding accomplishments in and contributions to the fields of mineral and fuel resources. Funds are being raised to the support the foundation?s educational programs. Among these is the Educational Outreach Program operated jointly by the foundation and the Arizona Department of Mines and Mineral Resources.

Jan 1, 2010

By Brian Zelenko, William H. Hansmire

"By the time the latest expansion of the Washington Metropolitan Area Transit Authority (WMATA) system, known locally as Metro and which opened in 1976, is completed in 2020, the system will serve 97 stations and operate on 188 km (117 miles) of track on six interconnecting lines. Metro provides a critical transportation link to a population of approximately six million people within a 3,900-km2 (1,500-sq-mile) Washington Metropolitan area and has allowed job growth to expand to all corners of the region. In the 1950s and 1960s, when the system was first conceived and construction began, most jobs were centered in downtown Washington, and most of the workforce commuted by bus or car. Today, transit-oriented development has increased residential, commercial and government facilities near most of the existing 91 stations increasing the importance of the Metro system as a critical transportation link for the region. According to recent American Public Transportation Association (APTA) data, Metro is the second busiest transit system in the United States (after New York City’s transit system).During the nearly 50 years of construction on the Washington Metro system, technology improvements and lessons learned from the global tunneling industry were implemented. Portions of this background and history have been adapted from other work by the authors Roach et al. (2017) and expanded for use herein. For soil tunnels, these improvements included the change from a “two-pass” tunnel lining with a typical initial lining of steel ribs with wood lagging or segmental precast lining erected within the tunnel shield followed by a final lining of cast-in-place concrete to a one-pass lining system of pre-cast concrete gasketed segmental lining. Soil tunnels were originally excavated using open-face tunnel shields, but changed over time. By the late 1980s, tunneling using closed, pressurizedface tunnel boring machines (TBMs) using a one-pass tunnel lining consisting of segmental precast concrete permitted tunneling in a wider range of soil conditions with much less risk of damaging overlying utilities or structures, greater safety for tunnel construction personnel and without the need to dewater the soils. However, due to concerns about conditioning clays with earth pressure balance (EPB) TBMs, open face machines were still favored by contractors for their better advance rates, lower cost and ability to deal with boulders that were occasionally encountered in the Coastal Plain Terrace Deposits."

Jan 6, 2018

By H. Hoberg, M. Langen, B. Hamacher

Since the term "abandoned hazardous sites" was first coined in the 1978 environmental report of the Council of Environmental Specialists, a number of different types of technology has been developed in the Federal Republic of Germany for the remediation of contaminated soils /l/. At former sites of the mining industry, such as metallurgical and coking plants whose soil has been contaminated by organic and inorganic pollutants over decades of industrial activity, there is an exceeding necessity for soil remediation. Also, many former locations of metal processing works, battery factories or scrap yards have been contaminated in particular by heavy metals. Wet mechanical soil decontamination has proven successful over the past 10-15 years in the purification of these soils The process goal is the enrichment of the pollutants in certain plant products and the separation of a pollutant concentrate from the decontaminated soil. Table 1 lists the steps of the highly advanced wet mechanical soil decontamination process to achieve this process goal. Table 1 lists both the name of each process step and its goal in terms of a direct separation of the pollutant or the preparation of the soil for subsequent separation steps. For the separation of heavy metals, density sorting and separation techniques utilising flotation were specifically used. The use of chemical auxiliaries such as acids and lye is limited to special cases because these in themselves produce additional environmental impact and the economical effficiency of these techniques compared to conventional methods is lowered by supplementary process steps for water purification. The subject of this presentation is to consider how soil decontamination processes can be effectively improved through a description of the material properties of soils contaminated by heavy metals, and through carrying out basic investigations about the adsorption of heavy metals. Soils of different origins, especially those from former mining and metallurgical sites, were used for the experiments.

Jan 1, 1995

By LUKAS FAHLE, Andrew J. Petruska, JURGEN F. BRUNE, Gabriel Walton, Elizabeth A. Holley

Adverse ground behavior events, such as convergence and ground falls, pose critical risks to underground mine safety and productivity. Today, monitoring of such failures is primarily conducted using legacy techniques with low spatial and temporal resolution while exposing workers to hazardous environments. This study assesses the potential of novel simultaneous localization and mapping (SLAM)-based light detection and ranging (Lidar) data quality for rapid, digital, and eventually autonomous mine-wide underground geotechnical monitoring. We derive a comprehensive suite of quality metrics based on tests in two underground mines for two state-of-the-art mobile laser scanning (MLS) systems. Our results provide evidence that SLAM-based MLS provides data of the quality required to detect geotechnically relevant changes while being significantly more efficient for large mine layouts when compared to traditional static systems. Additionally, we show that SLAM-specific processing can achieve an order of magnitude better relative accuracy relevant for change detection than quality metrics derived from traditionally deployed tests would suggest while reducing SLAM drift error by up to 90%. In collaboration with an operating block cave mine, we confirm these capabilities in field tests on a mine-wide scale and, for the first time, demonstrate methods of rockfall detection using MLS data. While more work is required to investigate optimal collection, processing, and utilization of MLS data, we demonstrate its potential to become an effective and widely applicable data source for rapid, accurate, and comprehensive geotechnical inspections.

Aug 16, 2022

By Randy Vranes

Sophisticated information technology, quality management systems and a commitment to the environment has allowed Solutia’s Soda Springs phosphate mine and elemental phosphorus plant to reduce operating costs, improve product quality and contribute to the sustainable development of Idaho’s industrial minerals. Soda Springs background The Soda Springs phosphate mine and plant is a joint venture between Monsanto and its operating partner, Solutia Inc. The operation is based in southeastern Idaho in the Western Phosphate Field. The plant is located about 275 km (170 miles) northeast of Salt Lake City, UT and about 4 km (2.5 miles) north of the town of Soda Springs.

Jan 1, 1999

By I. A. Kunasz

This paper is not intended to review and re-state general information on lithium, but rather to analyze the paradigm that has caused such a rapid rise in lithium production and the development of new lithium producing centers. Details on pegmatites, brines, concentrate and chemicals are amply covered in a number of publications ? SME?s Industrial Minerals and Rocks, Industrial Minerals, Roskill and a host of other publications. There is no question that the latest interest in lithium has been driven by the potential development of the electric car. This stimulus prompts one to recall two symposia: 1. ?Lithium Resources and Requirements be the year 2000?, organized in 1976 by the U.S.G.S. in Denver (1) and the sequel 2. ?Lithium ? Needs and Resources? at Corning, N.Y. (2).

Jan 1, 2011

By Florian Häckel, Ulrich Schwarz-Schampera, Benjamin Bühring, Katja Schmidt, Dieter Garbe-Schönberg, KoschinskyM Andrea

"The Vanuatu island arc and its adjacent back-arc basins form part of the southern New Hebrides subduction system in the southwestern Pacific Ocean within a triangle defined by the Solomon Islands, New Caledonia and Fiji (Meffre & Crawford 2001). The back-arc region east of the volcanic front is characterized by three structural depressions namely Vate, Erromango, and Futuna (from N to S), also known as the Coriolis Troughs. Earlier studies of lava compositions reveal the occurrence of highly evolved alkali-rich dacites as well as ankaramite basalts within the individual troughs (McConachy et al. 2005).Here we present the first mineralogical and geochemical analyses of hydrothermal fluids and precipitates (sulfides, sulfates, Fe-oxyhydroxides), sediments, and volcanic rocks, sampled during the "Coriolis Volcanism and Vents" (COVOLVE) cruise SO229 in July 2013 aboard the German R/V Sonne. The samples were retrieved during several ROV Kiel 6000 dives directly from the newly discovered active vent sites at the neovolcanic Nifonea Ridge, and from multiple sites at water depths ranging between 200 to 2800 m within the Vate and Futuna Troughs as well as from the shallow water Epi Caldera NNE of the Coriolis Troughs (Fig. 1)."

Sep 1, 2014

By Steve Kral

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

Jan 1, 1986

By A. G. Yapo, T. W. Camm

"All-in sustaining cost is a metric used by mining companies to reflect the cost of gold mining in a consistent format useful to both investors and mining professionals. Cost reporting focused on the direct cost of mining and processing ore was summarized in the non-GAAP cash cost developed by the Gold Institute in 1996. In 2013, a group of mining companies, working with the World Gold Council, developed a more inclusive approach to reporting costs designed to solve the dilemma of showing a more comprehensive reflection of recurring costs involved in producing gold, without discouraging investors. INTRODUCTION Mining today plays a key role in the development of our civilization as a source of essential raw material and provider of essential fuels, producer of jobs, and a factor in support of the international balance of monetary payment (Camm, 2014). Professionals in mining locate, develop, design and manage ore deposits in an environmentally safe and profitable manner. As mineral deposits become increasingly scarce, new challenges face the industry. A current trend is to an increased emphasis on underground mining techniques for deeper deposits. Operations are safer today than before as companies understand better their work environment and the importance of mining responsibly. A continual challenge for the industry is accurately reflecting the costs and selling price of ore. An enduring characteristic of mining is the situation where the market typically determines the price of a commodity; the main control a company has on the bottom line is to control the cost of production. An attempt to bring light and clarity on the cost of their business will give a better idea to investors on the true profitability of the mining business. Gold producers face this struggle to accurately reflect the cost of production while also seeking to attract the interest of the investment community (Hill, 2013). In order to have a consistent format to report on their production costs, leading gold producers through their alliance inside the World Gold Council (WGC), worked on the adoption of a new cost framework: the All-in Sustaining Cost (AISC) and All-in Cost (AIC). Since 1996, the traditional cash cost reporting has focused only on the mining and processing costs incurred in mining an ounce of gold, which included the costs of goods sold (labor, energy, and consumables costs) and royalties (Table 1). But cash cost reporting ignores many important aspects, like sustaining capital, general and administrative expenses, and site rehabilitation at the end of the mine life (Whelan, 2013). The cash cost was used to attract many investors into the business. In fact the high gross margin (sales minus cash costs) has been promoted the past decades by the industry instead of the net or operating margin. As a result, even when the gold price was high, nearly $1900 per ounce in August 2011, gold producers were not reporting excessive profits in their cash flow / income statements, to the disappointment and incomprehension of investors (Milstead, 2014). The truth was simply that the other costs omitted in the traditional cash cost were reducing the apparent profits."

Jan 1, 2017

By K. Kavouridis

The energy and climate protection policy of European Union (EU), and its Member States adopted in 2007 bridges security of supply, environmental protection and competitiveness. The objectives of the EU energy and environmental strategy cover the foreseeable period till 2020. It assumes all sources of energy will be needed. The objectives for renewable and improved efficiency are ambitious; it must be established if they are also realistic. Coal can continue to make valuable contribution to the security of supply and low price of electricity, only with technologies allowing for drastic reduction of the CO2 emitted of its combustion. The aimed at -20% reduction of green-house gases (GHG) of EU-27 by 2020 is an objective limited in time and content. Europe produces less than 15% of global CO2 and this will be reduced to 10% in 2030. Emissions Trading (ET) is to remain the central instrument for CO2 management, especially in the power sector. ET scheme (ETS) or other mechanisms need designing to create an incentive for investment in higher efficiency and technologies and to Carbon Capture & Storage (CCS). The ETS as the climate protection instrument of the EU can become a heavy burden (high fuel and electricity prices, less security of supply) or it can create a climate for modernization of fossil fuel power plants. The suggestion in this paper of fuel-specific benchmark system for CO2 allocation after 2012 can combine the emission levels to be reached with a strong drive to invest, the necessary investment security, transparency and the principle of proportionality. A Benchmark System as recommended by coal industry could adapt to the different circumstances in the long term and comply with EU energy and environmental policy objectives.

Jan 1, 2008

Obtaining financing for mining and exploration projects has been difficult for the last several years, particularly for junior companies. Today, though, the purse strings of investors appear to be loosening, leaving the industry with many questions about financing in the coming years. How have capital markets and exploration spending changed? Are there signs of improvement? Where has capital been raised in private, public markets, stock exchanges, private equity, etc.? What companies successfully raised capital in the last year? How are they spending it? How are traditional and alternative funding sources investing in mining? What are the issues mining companies need to know about when tapping alternative sources of capital? Those were some of the questions that were answered at the Current Trends in Mining Finance conference, sponsored by SME and the New York Section April 26-28. Held in New York City, the conference attracted 115 professionals who work on the finance and economic side of the mining industry. Three of the conference organizers talked with Mining Engineering about the conference and the state of financing in the industry today. Tim Alch (TA) is managing director with Behre Dolbear & Co. Alan Oshiki (AO) is executive vice president with the Abernathy MacGregor Group. Henry Weingarten (HW) is managing director with the Astrologers Fund Inc. Here is what they had to say.

By Harlan L. Kebel

Gypsum, the dihydrate form of calcium sulfate, has a history of usefulness to man dating back several thousand years, and a worldwide industry has been built on the mining and processing of this versatile industrial mineral. However, anhydrite, the other prin¬cipal calcium sulfate mineral, has very limited use, so much so that separate statistics for it are not always kept, but are usually included with those for gypsum. Although often found in close association, the two minerals have important chemical differences in that anhydrite is the anhy¬drous form of calcium sulfate (CaSO4) whereas gypsum is the dihydrate (CaSo4.2H20). These two molecules of combined water result in significant differences in hardness, density, and solubility of the two minerals. Of most importance, however, is the difference in thermal properties wherein gypsum, upon the application of a modest amount of heat, can be converted to the hemihydrate of calcium sulfate (CaSO4 '21H20) or plaster of paris, an intermediate product upon which is based over 90% of the value of all calcium sulfate end products. Anhydrite, on the other hand, is inert at these temperatures and its uses have been limited to only those few cases where calcium sulfate in the anhydrous form may have an advan¬tage. The earliest known use of gypsum plaster dates back some 5000 years to the time of the Pharaohs of Egypt who had discovered that gypsum rock, when exposed to fire, broke down into a powder which, when mixed with water, would form a putty that could be plastered on a rough mud brick or stone wall to make a smooth finish. It was used down through the centuries in a limited way for ornamental purposes, but did not achieve wide acceptance because of the quick (25 to 30 min) setting or hardening time which made it difficult to use. The first real understanding of gypsum chemistry was developed in France about 1755, and the gradual growth of its present utilization dates from that time. In the United States, the first utilization of gypsum was to grind it to a fine material for use as a soil conditioner at about the time of the Revolutionary War, and the term land plaster for ground gypsum was coined and has remained in use. Another cementitious material-lime or calcium oxide-had become the usual plastering material, but by about 1870 a method for retarding the set of gypsum plaster was discovered; today it has almost completely replaced lime as a plastering material. In recent years, gypsum products sold in the United States have reached a total valuation of approximately $2 Gpy as illustrated in [Table 1].

Jan 1, 1994