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By Jan Luca Grunow, Ansgar Bendiek, Klaus Böde

According to the Markowitz portfolio theory the value of a diversified portfolio is higher than the sum of the parts of a portfolio, which is an important consideration for the correct valuation. This is valid for real estate portfolios as well as for mining assets (or enterprises). This paper analyses the application of the portfolio theory to a diversified portfolio of assets in the real estate industry and draws conclusions on further research work to be done in the minerals industry. The volume of real estate transactions is increasing over recent years. As such, the nature of those transactions is constantly changing and in some cases portfolios become more heterogeneous as they are composed of different property categories, e.g. locations and types of use. This makes their economic evaluation more difficult. This paper focuses on the acquisition of a fairly heterogeneous real estate property portfolio purchased by “Commerz Real” in Germany in Q4 2019. For economic evaluation the widely used Markowitz portfolio theory (Markowitz, 1952) was applied. It was investigated whether diversification effects could achieve added value in the form of a reduction in risk compared to the sum of their individual components. As a result the findings of this research could be applied to other heterogeneous real estate transactions and even to mine property portfolio or PPP1 project portfolio transactions.

Jun 25, 2023

By William W. Edgerton

Establishing geotechnical baselines on soft ground projects that require the use of closed-face tunnel boring machines (TBMs) is difficult. It is hard to see the face when mining and the excavated material is combined and mixed, all of which makes baseline quantifications challenging. In an attempt to meet underlying objectives of minimizing bidder contingencies, allocating or sharing risks and paying for conditions only if they occur, nongeotechnical baselines (i.e., functional baselines) have been developed. These have been used on the District of Columbia Water and Sewer Authority?s Clean Rivers (DCCR) Blue Plains Tunnel (BPT) project. This article examines the development of such functional baselines and how they were implemented on the BPT project.

Jan 1, 2012

By W. Collingwood, K. V. Raj, S. Bandopadhyay

In the mining industry, computational fluid dynamics (CFD) modeling is used extensively to simulate air flow in underground mines. CFD modeling of pollutant transport in openpit mines is relatively new. Modeling the actual pit geometry of an openpit mine and the open domain is complex. The complexity is primarily due to the faceted geometry of an openpit mine with its numerous associated sharp features. Important issues that are not considered carefully at the geometry level are generally propagated to the subsequent processes. Several challenges and pitfalls are encountered in modeling pollutant transport in openpit mines. These challenges and pitfalls are related to the geometry, meshing, boundary conditions and turbulence modeling parameterization. An appropriate mesh selection is critical. A detailed discussion of the meshing of the domain of an openpit mine is presented in this paper. The selection of an appropriate turbulence model, such as kappa-epsilon (κ-ε), large eddy simulation (LES), Reynolds stress model (RSM), etc., to obtain the best possible solution is equally significant. This paper discusses the various challenges in modeling the pollutant transport process in an openpit and some of the approaches adopted to address these challenges.

Jan 1, 2013

By N. O. Lotter

The reliability of a set of flotation results is key to minimizing project risk, either at the commissioning of a concentrator or at the point of implementing an improvement to an existing concentrator operation. High-confidence flotation testing (HCFT) was developed for this purpose and is part of the list of technologies at various scales used by Xstrata Process Support (XPS) in addressing these projects. The methodology is based on two principles: one, to ensure that the ore sample is representative and has been well-blended and subsampled; two, to perform the flotation tests in sufficient numbers of replicates with appropriate quality controls, so as to improve the reproducibility of the test data. Across ten years of research on this methodology at Xstrata Process Support, Sudbury, several improvements to the HCFT method and complementary connections between sampling and quantitative mineralogy have been developed. Two case studies are reviewed. These show the capability of this system in both optimizing an existing concentrator operation and in serving a new mine scenario. Further work to improve the efficiency of this procedure has been identified. Key words: Flotation testing, Flotation

Jan 1, 2010

By R. Wild

[When a blast furnace has a certain defined burden and is operated under fixed conditions of blast temperature, etc., the fuel efficiency is determined by the extent to which the reducing gases can remove oxygen from the burden in the furnace stack. This is determined by two distinct factors: 1) The uniformity of gas-solid contact, and 2) The ease with which oxygen can be removed from individual pieces of burden. This latter is often called burden reducibility. When burdens were poorly prepared the first factor was by far the most important and a study of the reducibility of individual lumps was of rather academic interest recent years good burden preparation with emphasis on sized material has led to greatly improved gas distribution in the stack, and thus the second factor has become much more important and there has been a marked increase in interest in methods of measuring reducibility.]

Jan 1, 1964

By Paul G. Mahoney

The original Radum aggregate plant, built by Henry Kaiser in 1931, is the oldest of the nearly 200 individual operations established by the Kaiser companies. Since that time it has been producing aggregate products primarily for the San Francisco Bay Area. Currently, and for many years, this plant has been listed as the Nation's No. One aggregate producer. Early this year a new $10,000,000 facility went on line replacing the old plant. Construction of the facilities was performed under the direction of Kaiser Engineers construction management teams. The existing plant continued to operate without interruption during the entire construction period.

Jan 1, 1970

By V. Rajaram

A mine fire or roof collapse may necessitate the reversal of main fans to isolate the fire or provide an escapeway. Hence, to assist the mine operator in estimating the flow and pressure during reversal, Engineers International, Inc. conducted a laboratory and field study of the reverse performance characteristics of main mine fans. Laboratory tests were performed using a 96-inch (2.4 m) diameter vane axial fan to establish the forward and reverse performance characteristics under controlled conditions. Subsequently, a field test was conducted in a Colorado oil shale mine during which two 79-inch (2 m) diameter fans were reversed. The data obtained indicate that reverse performance characteristics are dependent upon the blade angle and the hub to tip ratio. The quantity in the reverse mode ranged from 30 to 65% less than in the forward mode, and the static pressure was directly proportional to the square of the quantity.

Jan 1, 1985

By Jack M. Campbell

The regulatory process by which governmental authorities acknowledge and, in turn, permit the location, construction, and operation of large scale energy-related facilities has become extremely detailed in recent years. One example of the detail that is entailed in the regulatory process is the number of permits that must be acquired by operators prior to the construction and operation of energy-related facilities. It has been estimated, for example, that 75 permits are required prior to the opening of a new coal mine in Pennsylvania while 50 are required in Kentucky. From the perspective of facility owners and operators the regulatory process often appears overly complex and may be perceived as a constraint to the corporate decision making process. From the perspective of those responsible for administering regulations, the process is perceived as a mans by which public desires - pursuant to social objectives such as environmental protection and occupational safety - can be achieved. As a result of conflicting organizational interests, the clash between energy facility owners and operators and their regulators appears to be inevitable. Furthermore, the resolution of this conflict lies in the tradeoff between objectives and the costs of regulation. The balance of objectives and costs is a subject of the political process and not a topic of consideration in this paper. This paper is concerned with the actual administration of regulations, that is, the implementation of that which arises from the interplay of organizational interests. The paper assumes that environmental control laws will not likely be repealed, that regulations to implement the intent of these laws are here to stay and thus the paper seeks to assess how regulations are administered at various levels of government pursuant to objectives. The paper hypothesizes that the administration of objectives (or policy) has an impact on decision making which affects energy facility decision; making while recognizing the fact that regulatory policy cannot be totally divorced from administration, this paper proceeds

Jan 1, 1977

By James W. Estep

The sulphur shortage that has occurred in the past two years has directed attention more and more toward sour natural gas reserves, Wellhead values of sour gas vary widely depending upon the acid gas composition, location, market conditions, and necessary processing charges. Preparation of a saleable residue gas is considerably more involved and expensive than that normally encountered in treating a sweet gas. Recent revisions in sales gas specifications have increased capital costs and processing charges. The presence of hydrogen sulphide and carbon dioxide in a natural gas contributes to shrinkage factors that may approach 50%. Fuel required by the gas sweetening process and sulphur slant tail gas incineration also contributes to a further reduction in the volume of residue gas available for sale. The additional processing facilities involving gas sweetening, mercaptan removal, expanded utilities, sulphur recovery and sulphur handling, all demand additional operating and maintenance staff. A favorable sulphur market under certain conditions may justify the processing of sour gas whereby sulphur is either a by-product or a co-product, Five typical cases involving different compositions of sour gas are presented for evaluation. Capital costs, operating problems, and operating costs are presented in detail for full economic evaluation

Jan 1, 1967

By Yuting Xue

Classification of rock and coal is one preliminary problem for fully automated or intelligent mining. It assists in automated rib stability analysis and enables the shearer to adjust the drums without human intervention. This paper studies the classification of rock from coal on rib images using machine learning techniques. A database of rock and coal images was created by filtering photographs taken by NIOSH researchers during site visits. Machine learning was conducted on patches, smaller images randomly extracted from each rock or coal image. After training, the classifier was validated with the testing dataset and achieved an accuracy score of 0.9.

Jan 13, 2022

By Thomas R. Kuesel

Just south of the L'Enfant Station in Seventh Street, the WMATA system splits into two branches, each comprising twin single-track soft ground tunnels. Immediately at the beginning of the section, Interstate Route 95 crosses transversely over the alignment in open cut, removing most of the cover over the tunnels. Seventh Street spans I-95 on a bridge whose abutments and pier also cross transversely over the four tunnels, with their footings as little as 7 feet above the tunnel crown (Figure 1). Soil investigations revealed that the tunnels would have to be driven through mixed face, with a clay invert and a waterlogged sand crown. Thus, there was a good chance that the roof would fall in, leaving 1-95 and the Seventh Street Bridge in a crater. Since there was no roof that could be counted on, these were figuratively (and potentially truly) Washington Metro's Topless Tunnels (Figures 2 and 3). DESIGN ALTERNATIVES Faced with this situation, the designers considered several options, including temporary detours that would permit demolition of the bridge and building tunnels under the 1-95 Freeway by cut-and-cover methods. They also investigated structural underpinning of the bridge and freeway pavement, and strengthening the bridge abutments and center pier by post-tensioning to enable them to span over any subsidence trough.

Jan 1, 1976

By Emily Rose

The concept of risk management is applied to multiple aspects of the mining lifecycle including safety, mine design, business plan—anything that affects getting the ore to the mill for production. However, risk management is not a topic that can readily be taught in universities. Many situations require knowledge gained from experience to know how this impacts current and future operations. Recent graduates, who must develop and apply decisions based on geotechnical monitoring, likely have not developed “operational experience” and may not be aware of options and typical applications. Thorough resources that explain different monitoring systems, and when and how to implement them, are available for geotechnical professionals. Accessibility to this information can often cause information overload, leaving one unsure of where to start, without knowing where to start. This paper is intended to serve as a high-level overview of development practices, levels of risk, and risk tolerance for entry-level geotechnical and mining professionals who do not come from a geotechnical background. Summarized detail on typical monitoring practices, types of instrumentation, and how to communicate what the data indicates to key stakeholders are provided.

Feb 22, 2026

By S. G. Zahony

The Moris gold deposit resides in a massive ridge-forming sulfide-poor epithermal quartz and calcite vein system and consists of a mineable reserve of four million tons of 2.1gm Au/ton. Post-mineral normal faulting along the hanging wall of the main fissure has caused a hogback-like exposure of the vein, allowing for inexpensive opencut mining. The vein formed between pre-Cretaceous(?) phyllitic clastic sedimentary units in the footwall and Tertiary andesitic volcanic rocks in the hanging wall. Part of the ore reserve is hosted in a Tertiary conglomerate that rests unconformably atop the phyllitic footwall sequence. The original unoxidized vein material contained substantially less than 1 gram Au/ton. A four-fold upgrading of gold occurred by enrichment when gold recrystallization took place in the electric fields of oxidizing pyrite cubes.

Jan 1, 1993

By Timothy G. Shuttleworth

In the late1970s, mineral processing plants producing copper sulfide concentrates and oxide leaching feedstocks went online with operating tonnages that exceeded traditional installations. This created a need for larger capacity belt conveyors and apron feeders. Apron feeders are slow moving, heavily loaded conveyors that feed a deep bed of ore from a bulk holding location (a bunker) as a controlled stream, often into a large capacity crusher. Apron feeders use sprockets and caterpillars, while belt feeders use rubber belts with motorized head pulleys to convey the material. The damaging of belts and clogging of transfer points from tramp iron required larger magnetic separators and the removal of tramp metal cannot prevent these serious problems. Corrective action at this location is important for two reasons: Removing tramp iron early in the ore stream protects downstream equipment from potential costly damage. Installing apron feeder magnets before the primary large capacity crusher means that secondary and tertiary crushing steps (made up of multiple parallel units) operate more efficiently, since tramp metal is removed at the onset.

Jan 1, 2011

By W. D. Elston, A. E. McLaughlin, G. B. Hampton, W. L. Barham, J. F. Murphy, W. H. Cundiff, J. W. Mulloy, R. G. Breuer, J. W. Shaffer

Introduction Alumina (aluminum oxide) is the material from which all the world's aluminum is produced. In the Western World, all the alumina is made from bauxite by the Bayer process. In the nearly 150 years since aluminum was first isolated by Oersted, the metal has grown from a laboratory curiosity to a position of major importance in the world's commerce. In terms of annual production rates aluminum is first among nonferrous metals. Oersted's discovery-reduction of aluminum chloride with potas¬sium amalgam-was improved on by Ste. Claire Deville, whose so¬dium amalgam reduction of aluminum chloride led to the commercial production of aluminum in France in 1855. Ste. Claire Deville's method prevailed until 1886 when Charles Martin Hall and Paul T. Heroult each invented a process for the production of aluminum by the electrolysis of alumina dissolved in molten cryolite. The inven¬tion by Karl Josef Bayer in 1888 of an economical process for making very pure aluminum oxide (alumina) from bauxite established the necessary link between known ores and the Hall-Heroult reduction process. Bayer's work completed the scientific base-the ore bauxite refined to alumina by the Bayer process (U.S. Patent No. 515,895), the alumina reduced to aluminum in the Hall-Heroult cell (U.S. Patent No. 400,766--upon which today's aluminum industry is founded. Small-scale production of aluminum in the U.S. began in 1888 utilizing the Hall cell. By 1903, bauxite properties and a Bayer process refining step had been incorporated into the production activities. On this base the aluminum industry in the U.S. has grown at an annual compounded rate of 15%. Since 1946 the annual growth rate has been 10%.1 The rapid growth of the industry is the result of many factors among which are the existence of widespread bauxite ore deposits; a sound and economic production technology; and the properties of the metal-lightness, strength, ductility, good electrical and heat con¬ductivity, and pleasing appearance, which lead to ever greater de¬mands for aluminum in an industrializing society. At the inception of the industry, the only market that could be found for aluminum was in the production of cooking utensils. How¬ ever, the rapidly accelerating industrial and technological development of the Western World soon created new needs for aluminum, and today aluminum is marketed in a broad range of industrial, commer¬cial, and consumer applications. The principal uses for aluminum are:' building and construction, 22%; transportation, 18%; electrical, 13%; packaging, 11%; consumer durables, 10%; machinery and equipment, 7%; other, 19%. The 1974 production of primary alumi¬num in the world was 14.5 million short tons, which at an approximate ingot price of 40¢ per lb puts a value of $11.6 billion on the industry product prior to fabrication. While aluminum is widely distributed in the earth's crust and is a major constituent of many rocks and soils, to date no method of extraction of aluminum from such nonbauxite material has been brought to commercial practice in the Western World. In the USSR alumina is produced by the complex processing of nepheline syenite, but elsewhere all commercial production of alumina is from bauxite. A brief discussion of recent developments and other processes for alumina is included in the subsection "Other Processes for Alumina," page 19-15. In early 1973, a major U.S. aluminum producer announced the successful development of processes for the production of aluminum from aluminum chloride. This achievement promises to exert a major influence on the future of the aluminum industry. In the initial com¬mercial application of this new technology, Bayer alumina will be chlorinated, and the aluminum chloride then reduced by electrolysis. Important claims for the new processes are lower energy requirements (one-third less than obtainable in Hall cells) and reduced labor costs. Capital costs are said to be no greater than for conventional plants. While the announced intention is to produce the aluminum chlo¬ride from Bayer process alumina, the new chloride reduction process will eliminate the other raw materials, carbon and fluorides, required by the conventional Hall cells. The electrodes in the chloride cell will not be consumed on the reduction process and the electrolyte will have, as the name indicates, a chloride rather than a fluoride base. 2. Bauxite Definition and Origin. Bauxite is a naturally occurring raw material composed principally of a mixture of one or more of the hy¬drated aluminum oxide minerals gibbsite (Al2O2 3H2O), boehmite (Al2O3 H2O), and diaspore (Al2O, - H2O), and impurities of silica, iron oxide, titania, and other various elements in trace amounts. It is an end or near-end product of chemical weathering. Depending on the amount of iron impurities, the color of bauxite varies from dark red and brown to pink to white. Some bauxite is finely divided, free digging earthy material, while other forms are dense and rocky, requiring explosives in mining. Many gradational forms exist. It is one of the most variable of mineral raw materials in chemical composition and physical appearance. It is generally believed that bauxite deposits resulted from intense chemical weathering of aluminum-bearing rocks or formations under tropical or subtropical conditions with alternating wet and dry sea¬sons. Topographic conditions were favorable for drainage and the in-situ accumulation of aluminum, iron, and titanium oxides. There was low to moderate topographic relief with a minimum of erosion during long quiet periods in earth history.2 The occurrence of bauxite is widespread and it has been found on all continents except Antarctica. Production was reported from 27 countries in 1974, at which time total world production was over 79 million metric tons. Of this production 76% was from seven coun¬tries-Australia, Jamaica, Surinam, Guinea, USSR, Guyana, and Greece-which ranked in that order of production. In Table 1 are shown typical compositions of bauxite from some

Jan 1, 1985

By David L. Giles

The alkalic igneous province of Montana consists of centers of laccolithic and stock-like intrusive complexes with associated sills, dikes, and breccia pipes (e.g., Judith, Highwood, Little Belt Mts.); isolated plug-like mafic bodies (e.g., Smokey and Eagle Buttes); and clusters of kimberlitic diatremes and ultrabasic dike swarms (Missouri River Breaks). The province extends in a belt throughout central Montana from the North Absaroka Range in the south to the Sweetgrass Hills on the Canadian border. Intrusive activity ranged in age from Late Cretaceous to late Miocene, peaking at about 50 m.y, ago. Diverse types of significant epithermal gold mineralization occur at many of the laccolithic centers. This mineralization took place in large part during the waning stages of, or following, igneous activity. Large remnant travertine blankets in the region attest to comparatively recent hydrothermal activity. The quartz-pyrite-gold mineralization ranges from igneous- hosted stockworks or fracture sets (Zortman-Landusky and Neihart districts) and breccia pipes (North Moccasin Mts.) to replacement zones in flanking and upwarped Madison Group limestone (Gilt Edge and Kendall districts). The latter are mostly localized by intraformational solution breccias in the upper Madison, notably near porphyry contacts. Gold mineralization in the province was accompanied by varying amounts of silver, base metals, sulfosalts, and tellurides, with quartz, fluorite, carbonate, and barite and gangue. Gold occurs as auriferous pyrite, sylvanite, or in native form. Since the 1880's, primary gold production from numerous scattered deposits in the Judith, Moccasin, and Little Rocky Mountains, along with byproduct gold from the Neihart silver district (Little Belt Mountain), has totalled around 2 million oz. The major deposits were in the 1-2 million ton range at an average gold tenor of 0.3-0.6 oz per ton. Most of the ore was mixed oxide or carbonaceous sulfide ore and was treated either by amalgamation or by roasting-cyanidation. Current activity includes heap-leach operations on bulk- tonnage low-grade (approximately 0.03 oz per ton) ores at Zortman-Landusky, and several small-scale, experimental leach or mining operations on carbonaceous replacement ores, as in the Kendall district and Spotted Horse mine. Current exploration efforts for gold are focused not only in the old established districts, but also in and around other alkalic centers, which have been unproductive to date, such as the Crazy Mountains, Sweetgrass Hills, and Bearpaw Mountains. Target concepts in these efforts are porphyry-hosted stockwork or disseminated gold ores and Carlin-type replacement lodes in the flanking Madison or other favorable carbonate units.

Jan 1, 2013

By Ulrich Maidl, Jamal Rostami, Ulf Gwildis

Tunnel Boring Machines (TBM) have more or less become the preferred method of tunneling in various ground conditions and Programmable Logic Controllers (PLC) or microprocessors are standard features on TBMs to monitor and record various sensory systems on the machine providing the possibility for machine automation and control. The data collected from these sensory systems and channeled through PLC is stored for real-time analysis or use by the operators. Based on typical construction specifications, part of the information collected in the process is shared with the project management team representing the owner. Machine data automatically acquired during TBM advance is typically processed by specialized software to offer the project team data visualization and evaluation options. Interfacing with Geographic Information System (GIS), Computer-Aided Design (CAD), 3-D geologic model, instrumentation data bases, and Document Management Systems (DMS) allows for developing Building Information Models (BIM) of the tunnel’s as-built condition. Application of Artificial Intelligence (AI) processes such as Machine Learning (ML) have already been used for analysis of data, including performance prediction of hard rock TBMs, and exhibited the potential of big data analytics in improving the productivity of the operations. This paper outlines anticipated disruptive technological advances with implications on geotechnical exploration, TBM operation, face condition tracking, subsurface risk allocation, and claims management in the future.

Jun 13, 2021

By Rudolph K. Hoagberg

Silica sands, primarily in coarse size ranges, are used to prop open fissures or voids created in the bedrock by hydraulic fracturing. This procedure increases the flow of gas or oil or other fluids through the bedrock. The sands used must meet various specifications relating to their physical and chemical characteristics; these characteristics are in turn related to the geologic provenance of the sand deposit. The Jordan Sandstone, a Cambrian formation which is exposed in Minnesota and Wisconsin, meets the specifications of a proppant sand by virtue of its depositional history and its sedimentary properties.

Jan 1, 1980

By Sunny Schoone, Maximilian Getz, Felix Leaman, ELISABETH CLAUSEN

Jan 5, 2023

By K. H. Boss

In modern iron pelletizing plants fuel consumption has been optimized to such an extent that only minor savings can be expected in the future. Inspite of this fact, different process parameters were studied with a mathematical model and firing tests. The influence on fuel consumption and productivity was established. Furthermore, the adoption of simplified firing patterns was investigated, in particular for coal firing. In view of high costs of oil and natural gas, only substitution of these fuels by coal can substantially reduce production costs. In existing plants partial replacement of oil and gas can be achieved by addition of coal to the iron ore feed and by firing the pellets with pulverized coal. Two systems have been developed for the Lurgi- Dravo travelling grate process which enables coal to completely replace oil or gas. This paper describes in the first part the potentials for fuel savings available in the Lurgi-Dravo process. In the second part, different techniques for the use of coal as fuel in iron or pelletizing plants and in particular the recently developed Lurgi Multistage Coal Injection and Combustion Process (LMC) are discussed. Combined with the LMC process, a wide variety of iron ores and coals - also with high ash contents - can be used in the Lurgi-Dravo travelling grate process.

Jan 1, 1983