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By H. G. HYMER

B ECAUSE of its remote geographical position and inaccessibility, little is generally known of the mining and prospecting in Northern Rhodesia. In this rather new and promising region, the development of mines presents many difficulties. Although many mineral discoveries have been made, progress in .prospecting the huge mining concessions has been handicapped by the lack of roads, communication, transportation, native population and incomplete knowledge of geology.

Jan 1, 1929

By Joe Roby

Rolling disc cutters are the business end of hard rock and mixed face tunnel boring machines (TBMs). Since their first successful employment on a TBM over fifty years ago, disc cutter technology has constantly evolved, allowing modern TBMs to excavate very hard and abrasive rock efficiently. Disc cutters have also been employed successfully on earth pressure balance (EPB) and slurry machines, cutting rock under water and ground pressure. The range of materials excavated by machines today is broader, excavation rates higher and cutter costs lower than ever before, proving the value of investment in cutter development. This paper describes recent improvements in disc cutter components including cutter ring materials and processing, as well as improvements in lubricants, bearings, seals and cutter condition monitoring. These developments have resulted in more reliable cutters capable of operating in a wide range of geological conditions. Ultimately these improvements result in a better value for both contractors and project owners.

Jan 1, 2008

By P. H. Carr, G. G. Marino, K. A. Patel

Extensions to a correctional institution at Wabash Valley, Indiana, required development over abandoned coal-mine workings, at 90 m depth, where subsidence was possible at surface. Backfilling of the flooded mine in critical areas was determined to be the most cost-effective method of limiting the risk of damage to the buildings. Containment grout was first placed in selected entries and cross-cuts of each mine area; the remaining volume was then filled with a readily flowing infill grout. Where a high proportion of an area was taken up by rubble, calcium lignosulphonate was used as a retarder and plasticiser to increase penetration. Grout movement was monitored from adjacent boreholes with an electrical resistivity probe during grouting, while after the work was finished core samples were obtained from verification holes drilled in the backfilled areas

Jun 19, 1905

Jan 1, 1996

By Hans von Michaelis

"INTRODUCTIONThe renaissance in gold and silver recovery technology has continued to unfold and it is appropriate to review some of the useful new technologies as well as try to identify some of the industry's future needs and frontiers.The remarkable strengthening in the US dollar has resulted in a relatively low gold price in US Dollars of around $310/oz at the time of writing and silver at $6.25/oz. This general softening in the dollar prices and the recent confusion as to environmental compatibility of cyanidation tailings and effluents, has led to a slowdown in announcements of new operations. Another reason for the slackening off in the USA is that in the past few years a large part of the capital has come from oi I and gas companies that now seem to be losing interest in mineral ventures, and foreign investors for whom the dollar is becoming out of reach. In the author's opinion this represents an unprecedented window of opportunity.Elsewhere in the world where local currencies have weakened, the price of gold is at or close to its all time high.For example, in South African Rands, the gold price was R571.00/oz when the rand was US$1.47 and the gold price reached US$800. Now at US $309/oz and with the Rand at US$0.51 = Rl .00, the local gold price is R600. The price of si Iver in Mexican pesos is not much less than it was when silver reached US$50/oz. Gold, and silver prices in local currencies outside North America are still buovant and at levels where additional investment in new projects is more encouraging.Even in Canada where the dollar is worth about US$0. 75, this provides a smaller but significant cushion compared with US operations. Considering the present strength of the US dollar and even the Canadian dollar relative to many other gold producing countries, there should be significant investment opportunities at today's prices. Mining companies have started to descend on Brazil, for example, where in a matter of just a few years annual gold production has increased from 10 to 70 tons. In South Africa, a Canadian company backed by Swiss financing has been able to take over a Witwatersrand gold mining operation and is installing a huge new tailin9s retreatment plant to process about 1 million tons per month of tailings."

Jan 1, 1985

Formation of either sodium jarosite or lead jarosite from concentrated chloride solutions containing small concentrations of sulphate has been demonstrated. Sodium jarosite is precipitated at 95-100°C from FeC13-FeCI2-NaCI-PbCI2 solutions to which was added Na2SO4 or Li2SO4 in amounts greater than 0.05 M. In the absence of alkali metal ions capable of forming jarosites, lead jarosite was precipitated from either FeCI3-PbCI2 or FeCI3-FeCI2-LiCI-PbCI2 solutions to which had been added small amounts of sulphate. Many of the factors affecting jarosite precipitation from chloride solution have been elucidated, and the most critical were sulphate concentration and initial pH. Concentrations of HCI in excess of O. I M essentially suppressed the production of jarosite in chloride media. Alkali jarosite, precipitated in the presence of dissolved lead, incorporates a small amount of this metal into the alkali jarosite lattice. Small but significant amounts of copper can also be incorporated into alkali jarosite and the amount is further increased in the presence of lead. Other divalent base metals such as Zn, Cd or Ni are not significantly precipitated. Sulphate control in either FeCI3 or FeCl3-NaCI leaching systems could likely be maintained by jarosite precipitation provided that the acid concentration of the solution was low.

Jan 1, 1981

By José Vidalón

Dado que las lagunas de Papacocha y la Virreyna sufren los efectos de los drenajes ácidos de minas abandonadas, relaves y desmontes depositados en sus áreas de influencia, se ha previsto el control de los mismos. En este sentido, el presente texto evalúa los pasivos y propone soluciones dirigidas al control del drenaje ácido contaminado con metales disueltos, priorizando los métodos que no requieren la construcción y operación de una planta ni supervisión permanente.

Sep 13, 2001

By I. Nikolic

Twin-roll casting is an integrated casting and rolling process that involves the continuous solidification of a melt and the plastic deformation of the solidified metal between two rotating rolls. Computer modeling is a valuable tool to help engineers understand the metallurgical process during twin-roll casting. However, commercially available software can only model either the fluid flow/heat transfer of the melt or the plastic deformation of the solid, but not both. In this study, an object-oriented finite element program was developed to simulate the steady-state fluid flow, solidification and plastic deformation of an A7,31 magnesium alloy in a horizontal twin-roll caster. The melt, the mush zone and the solid were treated as a generalized Newtonian flow in an Eulerian reference frame and different constitutive equations were employed to describe the material behaviours. The effect of operational parameters on the solidification process was discussed based on the simulation results.

Jan 1, 2010

In blasting large tonnages of ore or material, the economy of the operation 'depends mainly on the mine manager's judgment in placing the holes to the best possible advantage and in determining the most effective size of hole to suit the conditions and requirements.The placing of holes is often looked upon as a problem involving so many uncertain factors that the application of simple mathematics is impossible. The uncertain factors arise when dealing with strata of different character, in hardness toughness and resistance to shearing.A study of the practice at many mines where all types of strata from hard ore to relatively soft overburden, and even coal, is being mined, suggests that the problem is not as complex as generally believed. There is, without doubt, some uniformity in the amount of burden given to holes of equivalent dimensions, regardless of the material being mined. The reason is simple. With too great a burden hard rock will not break out and soft rock will "bull". The nature of the strata is taken care of by the strength, quantity and distribution of the explosive charge and, to some extent, the spacing of the holes.It is because burdens are uniform in all classes of strata met with in mining, that a formula can be used to design blast hole layouts.The formula introduced in this paper is empirical as it is based on prevailing practice. It has been tested and proved remarkably accurate against every example available to the writer. Many thousands of blast holes, at many different mines, are represented by the examples given in the attached tables; to give further examples would only mean, unnecessary repetition. At the Mount Morgan Mine...

Jan 1, 1952

By L. D. Patts, G. H. Schnakenberg

Achieving substantial reductions in the exposure of underground miners to diesel particulate matter in a number of metal and nonmetal mines in the U.S. depends on the ability of the industry to widely implement advanced diesel emissions control technologies, primarily diesel particulate filter (DPF) systems. Recent field studies showed that diesel particulate filter systems with Cordierite and silicon carbide ceramic filter elements are capable of reducing concentrations of diesel particulate matter and elemental carbon by more than 70 and 90 percent, respectively. But those studies and several other attempts to implement DPF systems in underground mines revealed a number of relatively unique technical and operational challenges that are limiting industry-wide implementation of this technology. This paper provides detailed analysis of some of those challenges and short overviews of several projects launched by NIOSH Pittsburgh Research Laboratory in an attempt to provide the underground mining industry with more adequate DPF systems. These systems employ advanced technologies to overcome the most pronounced challenge, the regeneration of DPF elements installed on mining engines that generate relatively low exhaust temperature. This paper presents essential findings obtained through a long-term evaluation of DPF system with diesel fuel burner technology installed on a heavy-duty load-haul dump vehicle in an underground metal mine. In addition, the essential results of the laboratory evaluation of a popular on-highway DPF system which was adapted and optimized for underground mining applications will be summarized in this paper.

By Yael Miron

This report describes laboratory studies by the U.S. Bureau of Mines to determine the suitability of a static oxygen (OJ adsorption test for evaluating the self-heating tendencies of coals. Reliable minimum self-heating temperature (SHT) values from adiabatic oven tests were used as standards for comparison and evaluation. A suite of six coals was tested in the adiabatic oven and in sealed flasks. In the latter tests, both undried and dried samples, in a range of four particle sizes, were examined. Miniature pressure trans-ducers monitored pressures in the flasks, and gas samples taken at the end of the tests quantified all the gases present. An excellent correlation was found between the minimum SHT's and amounts of O2 adsorbed over a 7-day period for dried coals, independent of particle size. In addition, a good correlation was obtained between the minimum SHT's and pressure changes in the flasks at the end of the test for the same coals, also independent of particle size. Based on these results, the sealed flask test can be reliably used to determine the self-heating tendency of a bituminous coal sample.

Jan 1, 1990

By Hyung-woo Kim, Kiyoung Sung, Sup Hong, Jung-Yeul Jung

Many concepts for the commercial production of deep-seabed manganese nodules have been studied since the 1970s. However, the bearing capacity of the deep seabed is not strong because it is composed of fine particles with high moisture content. So it is impossible to carry manganese nodules in the collection system. Therefore, the validity of continuous mining by riser pipe from the seabed to the vessel is highly appreciated. A continuous mining system is composed of mining vessel, lifting pipe, buffer system, transport tube (flexible pipe), and self-propelled mining robot. A conceptual diagram of this system is shown in Fig. 1(a). Korea Research Institute of Ships and Ocean Engineering (KRISO) developed a deep-seabed self-propelled mining robot called "MineRo" to collect manganese nodules in 2012 (as shown in Fig. 1(b)). In 2013, real sea experiments at around 1380 m depth were carried out to evaluate the collecting and driving performance of MineRo. However, we found that the roller in MineRo did not work well at times. To elucidate the problem, we analyzed the rheological characteristics between the bushing and drive shaft under deep-water conditions.

Sep 1, 2014

By J. A. L. Napier

This paper presents an overview of work carried out by the CSIR Division of Mining Technology and formerly by the Chamber of Mines Research Organization (COMRO) to quantify the behaviour of the stope fracture zone near deep level goldmine stopes. The motivation for this work is first reviewed in the context of the unsatisfactory status of current mine layout design criteria. Numerical methods to represent failure processes are reviewed briefly. Specific studies of microfracture processes are described as well as physical modelling experiments that can yield insights into deformation mechanisms. Modelling of stope scale deformation mechanisms are presented and considerations relating to elastodynamic modelling of the rock mass are described. The implications of this understanding in relation to prospects for active fracture zone ?engineering? are outlined and finally, the directions of future research work are proposed.

Jan 1, 1997

By R. J. Watson, A. H. Juch

About half a million sucker-rod pumps are installed in oil wells in the U. S. alone. In Venezuela, too, the system is widely used; some 5,000, or 90 percent, of Cia. Shell de Venezuela's wells produce a total of 400,000 BOPD by this method. Most of the crude pumped is viscous, gassy and contains relatively small amounts of free water. API gravities vary from 90 to 16O; dead oil viscosities vary from 10 to 10,000 cp at the pump; and GOR's range from 100 to 2,000 cu ft/bbl. Pumps are set at depths ranging from a few hundred to 6,000 ft; the average setting depth is about 2,500 ft. From the literature, it appears that although recent years have seen significant progress toward understanding the rod pumping system as a whole, relatively little attention has been paid to those key items, the sucker-rod pump and the subsurface gas separator or gas anchor. Perhaps because of proration in the U. S., pump manufacturers have seemingly concerned themselves more with the durability of their product, achieved mainly through robust design and metallurgical know-how, than with its working efficiency. In 1963, CSV commenced a major rehabilitation and expansion of its heavy oil fields along the Bolivar Coast. The advent of the more efficient gravel-packed completion and of large-scale thermal recovery (mainly steam soak) operations resulted in well potentials *Now with B. I. P. M., The Hague, The Netherlands. greater than pump capacities. Hence, an urgent need arose to improve over-all pump efficiencies and to attack those special problems related to the production of both the extremely viscous and the hot, steam-laden crudes that formed an increasing proportion of the total stream. There followed a detailed investigation and testing program, carried out in close cooperation with a major pump manufacturer. This culminated in the introduction to the oil industry of a new line of sucker-rod pumps. Early Investigations and Experiments Field Tests Extensive field tests were carried out in three primary Bolivar Coast wells with an in-situ dead oil viscosity ranging from 400 to 6,000 cp. In these installations provision was made to (1) monitor bottom-hole pressures below, in and above the pump by means of pressure transducers, and record casing- and tubing-head pressures continuously; (2) measure accurately the annulus gas, as well as measure the tubing gas and liquid production from the well; (3) take special PVT samples of the well fluid; (4) measure power consumption of the prime mover; and (5) measure the rod loads at the polished rod. A typical test installation is illustrated in Fig. 1. It was established from the pressure transducers that with viscous oils, there is considerable flow resistance across the pump and gas anchor assembly. Pressure surges were observed over each pump cycle,

Jan 1, 1970

By F. L. Pirkle

A heavy-mineral deposit about 1.6 kilometers (I mile) in length and averaging about three meters (10 feet) in thickness is exposed approximately130 kilometers (80 miles) east of Denver, along Interstate 70, in Elbert County, Colorado near the town of Limon. The deposit is exposed in a geomorphic feature known locally as Titanium Ridge. The dominant heavy minerals, accounting for about 70% of the total heavy mineral suite by weight, are ilmenite, garnet, and zircon. The mineralized zone appears in a series of visually interpretable facies that are stacked vertically and represent subtidal, forebeach, backbeach, washover fan, and aeolian depositional environments. These paleoenvironments are analogous to depositional environments represented by a modern heavy-mineral bearing facies tract on St. Catherines Island, Georgia. Thus, Titanium Ridge provides evidence that heavy-mineral accumulation models for late Cenozoic deposits in the Georgia and Florida coastal plains are applicable to heavy-mineral deposits of the Western Interior subsurface and, by implication, the Western Interior Seaway, extending from Mexico to the Canadian Arctic.

Jan 1, 2011

By E. Matinde, S. L. Msibi

"The robust nature of alumina refractory materials presents opportunities for their in-process reclaiming and re-use in non-critical applications. Virgin refractories can be substituted with different quantities of reclaimed materials without compromising the quality of the refractory products. In this study, the effect of reclaimed bauxite on andalusite-containing refractory castables for tundish applications was investigated. The recycled bauxite was formulated in different proportions to replace virgin andalusite in the castables. Standard tests were conducted to evaluate the physical, physicochemical, and thermochemical properties of the formulated products. Static corrosion tests were conducted using tundish slag in order to simulate the actual operating conditions. The results show that the standard flow behaviour, open porosity, and bulk density of samples containing up to 22 mass% reclaimed bauxite were comparable to those of the reference castable. However, high-temperature properties such as static corrosion at 1400°C and hot modulus of rupture at 1500°C indicated that there is an upper constraint to the amount of substitution. The study demonstrated direct potential savings of up to 10% when the reclaimed alumina replacement ratio was increased to 22 mass%. IntroductionAlumina-based refractories can be classified into low-alumina, containing less than 50% Al2O3, and high-alumina or bauxite, containing between 50 and 90% Al2O3. High-alumina refractories have widespread applications in high-temperature metal extraction processes due to their outstanding thermochemical and thermomechanical properties and stability (Rebouillat and Rigaud, 2002; Frulli, 2016). The typical chemical composition of refractory-grade bauxite consists of 85–90 wt.% Al2O3, 5–10 wt.% SiO2, 1–2wt.% Fe2O3, 3–4 wt.% TiO2, 0.4–0.8 wt.% CaO + MgO, and 0.20–0.8 wt.% K2O + Na2O (Nyoka et al., 2013). The thermochemical and thermomechanical properties of bauxite-based refractories rely principally on the conversion of the contained silica and alumina to the highly stable corundum (?-Al2O3) and mullite (3Al2O3· 2SiO2) phases (Rebouillat and Rigaud, 2002; Hill and Sehnke, 2006; Garbers-Craig, 2008; Frulli, 2016)."

Jun 1, 2019

1. New books P. Sarnoff. Trading in gold. Cambridge, Woodhead- Faulkner, 1980. 136 pp. £3.50 by airmail. Environmental Planning Professions Interdisciplinary Committee (EPPIC). Proceedings: Joint EPPIC/Habitat Symposium: Shaping Our Environment. Johannesburg, EPPIC (P.O. Box 61019, Marshalltown 2107), 1980. R3 per set of 2 issues. H. P. Patra and K. Mallick. Time-varying geoelectric sounding. Amsterdam, Elsevier, 1980. 420 pp. D.S. $87.75. Die Suid-AfrikaanseSteenkoolverwerkingsvereniging. Steenkoolvoorbereidingskursus. J ohannes burg, die Vereniging, 1930. 335 pp. Members of Chamber of Mines of South Africa R15, nonmembers R40. D. R. Derry. A concise world atlas of geology and mineral deposits. London, Mining Journal Books, 1980. HO pp. £26.25 byairmail. 2. Journal Remote sensing of environment (RSE). 3. NIM reports Report No. 2064 The on-line monitoring of gold in barren solutions. Report No. 2065 The determination, by X-ray-fluorescence spectrometry, of gold, silver, and base metals on activated carbon. Report No. 2068 The determination of platinum, palladiuim, rhodium, and gold in ores and concentrates by the fusion technique with lead as the collector. Report 2061 The determination, by anodic-stripping voltammetry, of copper and lead in silicate reference materials. Report 2062 The reduction by computer of photoplate data obtained by spark-source mass spectrornetry. Report 2071 The determination, by X-ray-fluorescence spectrometry, of tin and tungsten in scheelite and ca8siterite ores and concentrates. Tunnelling Tunnelling '82, the third international symposium in the series, is being organized by the Institution of Mining and Metallurgy, with the co-operation of the British Tunnelling Society, the Institution of Mining Engineers, and the Transport and Road Research Laboratory.

Jan 1, 1980

By K. Lundholm, M. Andersson, L. Nevatalo, Å. Holmström, L. Hedström

"Several copper deposits have the arsenic bearing minerals enargite (Cu3AsS4) and tennantite (Cu12As4S12). Since this mineral contain both arsenic and copper, it is not possible to remove the arsenic by selective flotation. Partial roasting is a method to clean the concentrate from arsenic and thereby produce a suitable raw material for the copper smelter. Also mercury is commonly found in copper bearing minerals. In the partial roasting process both arsenic and mercury are volatilized, while part of the sulphur is used as energy during the roasting. This gives a calcine suitable as feed to a smelter, much like an ordinary copper concentrate. A typical analysis of calcine would be: S content 18–22%, As content below 0.3%, Cu content – not affected, grain size – not affected. However, if the concentrate contains mercury, the mercury will be volatilized during the roasting process. This will lead to very high mercury contents in the subsequent process of sulphuric acid, unless the SO2-rich process gas is pre-treated by the Boliden/Norzink process that recovers mercury as calomel, Hg2Cl2. The volatilized arsenic in the gas phase can be recovered either by dry or wet methods. However, one problem is that arsenic also contaminates the fine grained calcine dust that is captured downstream in the gas cleaning system. The calcine dust contains valuable metals such as copper, gold and silver that needs to be separated from the arsenic. The ultimate aim is to stabilize the recovered arsenic as a compound with minimum impact on the environment and recover the valuable metals. By using wet recovery methods it is possible to selectively precipitate copper, gold and silver as sulphides while arsenic is kept dissolved in the liquid. The precipitated metal sulphides can be mixed with the calcine and sent to the copper smelter. The dissolved arsenic is sent to effluent treatment and is further treated in Outotec ferric arsenate precipitation process, where arsenic is precipitated as the stable compound basic ferric arsenate, formula FeAsO4·xFe(OH)3. All concentrates containing arsenic are unique and the process design of a roaster plant must be based on relevant process data. The process data is collected during tests in lab scale and pilot scale, where the influence of critical process parameters on the quality of calcine is studied. The ability to run tests both in lab scale and pilot scale is crucial to the development of the correct roasting process. Outotec is well equipped for this."

Jan 1, 2014

By Antonio Rivera

On Nov. 13, 1985, Colombia's Ruiz volcano erupted, killing an estimated 25,000 people and burying several villages. Damages were estimated to be about $US300 million. The following is an account by SME member Antonio Rivera of the volcanic activity that led to the eruption. His account also includes a description of the geography and some geology of the affected area. Mining operations in the area were mostly unaffected, although some operations were forced to close until the roads leading to them could be repaired. Introduction The Ruiz volcano is located on the Central Cordillera of Colombia about 28 km (17 miles) southeast of Manizales, the capital of the state of Caldas. Ruiz is one of nine volcanoes that form a complex volcanic chain within the middle portion of the Central Cordillera. The Cordillera has 30 other volcanoes in the southern part of Colombia. Ruiz volcano Ruiz's elevation is 5200 m (17,060 ft). It is covered by an ice cap estimated to be 20 m (66 ft) thick at its summit, an area that covers 17 km2 (6.5 sq miles). Drainage is composed of several rivers that flow into the Magdalena River on the east and Cauca River on the west. The rivers flowing to the east are Guali, Azufrado, Lagunillas, and Recio. The rivers that flow to the west are Claro, Molinos, and Chinchina. There is a road from Manizales to El Refugio, a ski area located on the northeast flank of the volcano at 4800 m (15,750 ft) in elevation. The Ruiz volcanic complex was built in two stages. The first is a shield type of volcano (mainly lavas) formed about a million years ago. The second is a younger stratovolcano overlaying the ancient one. It consists of lavas and pyroclastics and was built over the past 500,000 years. Twenty-four eruptions of Ruiz are known to have occurred during the last 14,000 years. Its products mainly consist of lava flows, pyroclastic flows, mudflows (lahars), and directed lateral explosions. Historic eruptive record 1595 - Debris avalanche, blast, pyroclastic flows, mudflows, ash flows, and ash fall. 1828-1829 - Ashes (phreatic). 1831-1833 - Gas emissions and ashes. 1845 - Mudflows and pyroclastic flows. 1985 - Sept. 11- Fumarolic activity, phreatic eruption, ash fall, and small mudflows. 1985 - Nov. 13 - Ash and pyroclastic fall, major destructive mudflows (magmato-phreatic eruption). From 1845 through 1984, Ruiz volcano always had a slight fumarolic activity. It was restricted to the crater area. In November and December 1984, the fumarolic activity increased and the first ash emission and vapor-sulfur formation started. Small local earthquakes accompanied these volcanic activities. The volcano had a small erup¬tion on Sept. 11, 1985. It was manifested by phreatic explosions that ejected fragments of the vent and formed ash deposits 25 mm (1 in.) thick around an area 2.5 km (1.5 miles) from the crater. Fine material was blown by the wind and reached Manizales and neighboring areas, producing a small layer of ash up to 10 mm (0.4 in.) thick.

Jan 2, 1986

By John A. Wells, Leticia Conca, Kenneth G. Thomas

"Since about 2002 there has been significant capital cost escalation, not inflation, in the mining industry causing turmoil for successful project completion. Project capital costs have more than doubled and some cases tripled in this time period. This has rendered many projects to be economically challenged and in some cases not viable. In addition higher than expected operating costs have further adversely affected project metrics such as NPV and IRR. Capital cost increases for projects have been widely reported globally. This current paper reviews three items. Firstly, why such capital increases and the various components that make up capital estimates. Secondly, it looks at reasons why preliminary estimates, for example at scoping and pre-feasibility level, have been lower than the ultimate constructed costs. Such increases and differences in estimates have caused major problems for mine builders and have led to a general nervousness on the part of those providing project finance. Thirdly, what discipline is needed in project execution in an attempt to mitigate such capital increases. The paper will hopefully give a better understanding of the various issues and factors involved for those in the mining industry.INTRODUCTION The years 2012 and 2013 were a turbulent time for the mining industry. The European economic crisis, politics, metal price volatility and a wave of changes of CEO´s in some of the major mining companies all contributed to a challenging couple of years. Two issues stood out. First, the huge increases reported in the capital costs of projects, where increases of 100% - 300% were not uncommon and in some cases exceeded that during the first decade of the 21st century. Second, company write downs related to takeovers during the boom and the stabilization/correction in commodity prices. These have led to great uncertainty, made it difficult (or impossible) to raise project financing costs, contributed to the changes at CEO level and placed many projects either on hold or cancelled altogether. It is commonplace now to read of companies talking of reduced capital expenditure and making a complete review of their projects and operations to contain costs."

Jan 1, 2014