Search Documents

By Michael Rieber

Mineral economics interfaces the mineral sciences and engineering with finance and economics in the analysis of appropriate questions facing the minerals and energy industries. Its practitioners include those trained in the earth sciences; mining, petroleum, and geological engineering; metallurgy and mineral preparation; as well as finance, information systems, economics, and statistics-most usefully in one or more combinations. Allowing for some overlap, three general areas may be identified: evaluation, economic analysis, and resource appraisal. Evaluation begins with mine investment analysis (exemplified by Gentry and O'Neil, 1984) and process costing, for which the STRAMM Handbook (Anon., 1977) provides a well-known basis for mining and beneficiation. But it extends from property appraisal, often used for the determination of taxes and royalties, through the determination and comparison of transport costs (e.g., Richer and Soo, 1977), and to benefit/cost analyses of externalities. Economic analysis, the subject of this section, is displayed in rigor and extent both theoretically and as applied to commodity classes in Vogely (1985), but it is implicit though apparent throughout Lefond (1983). The text edited by Vogely places minerals in their aggregative context with economic growth and trade, proceeds to the theoretical analysis of minerals and their markets, analyzes the structure and performance of the major mineral sectors, and concludes with policy issues: fuel, nonfuel, and environmental. Resource appraisal employs quantitative methods for the estimation of mineral and energy resources. It moves through geologic, geophysical, and geochemical properties to the identification of estimation procedures for mineral endowment and for the economic measure of stocks and flows of specific minerals (Harris, 1984). It can be used to estimate the probable amount of a specific resource remaining in a given region and has been used to project sites in a specific

Jan 1, 2008

By James R. Evans

Orange County, adjacent to the populous and industrialized Los Angeles area, is the fastest growing county in California and is second only to Los Angeles County in total population (figure 1). In addition to an equable climate and a burgeoning economy, there is room in Orange County for growth and expansion. Growth over the past decade has resulted in rapid development of industrial tracts, housing areas, and shopping and commercial centers, mostly in former agricultural areas. The value of new building in 1972 was a record amount-over I billion dollars (figure 2). Problems relating to the proper direction of growth are the concern of both government and the private sector. The intelligent and efficient use of areas to be developed requires planning for the conservation and protection of the County's natural beauty and for the orderly development of natural resources. The availability of sand and gravel, which is used in many phases of construction, will be a major controlling factor in the future of the County.

Jan 1, 1974

By Willard C. Lacy

A mining operation begins with prospecting and exploration-stages with long periods of investment and high risk of failure. However, success in exploration ultimately determines survival of the mining industry. Prospecting and exploration may discover evidence of a mineral occurrence and outline its size and character, but ore deposits that support mining are "made" through the collective efforts of project geologists, geophysicists, geochemists, metallurgists, engineers, chemists, lawyers, and even politicians (Joralemon, 1975). Some deposits may go through multiple cycles of rejection and recommendation, discovery and development, decline and abandonment, rediscovery and development, etc., as economic, technological, or political conditions change or geologic understanding is improved. Peters (1987, p. 233) graphically illustrates the normal life cycle of a mine and the position of exploration in the cycle (Fig. 4.0.1). During the past fifty years, mineral exploration has evolved from comparing evidence of mineralization of prospects with that of known deposits to a more quantitative science employing many facets of geochemistry, geophysics, multispectral sensing from space, computer data storage, analysis, modeling, and most importantly, a better understanding of ore genesis. This modem approach to exploration began in the late 1940s and continues to develop. Exploration efforts peaked in the 1960s with emphasis upon the search for porphyry copper deposits, Mississippi Valley lead-zinc deposits, and volcanogenic massive sulfide copper-lead-zinc deposits. It peaked again in the middle and late 1980s with emphasis upon micron-size disseminated gold and epithermal and stratiform precious metal deposits.

Jan 1, 2008

By B. A. Filas, H. N. Lammers

Responsible environmental, social, and governance (ESG) practices are not new to mining. It is the ESG acronym that has become the “flavor-of-the-day” with the stock markets, accounting firms, and investment strategists. This increased interest from the financial sector has heightened executive awareness and accountability to where corporate leadership and directors are proactively prioritizing ESG issues from the top down within their companies. This paper aims to convey what the authors believe one needs to know to be able to conduct and prepare effective ESG audits and reports. The emphasis is on how ESG fits within the mining sector, some of the ways that many mining companies have been practicing ESG responsibility for decades, the importance of effective communications with stakeholders, and the roles that regulatory and international lending institutions play in enhancing ESG practice on a global scale as a precursor to the discussion on ESG auditing and reporting. Without this background, the ESG audit may become a purely academic exercise.

Feb 1, 2023

Contributions made by mining have played a much more significant role in the development of civilization than is generally conceded by historians or recognized by ordinary citizens. In modern society, mined products pervade all industry and the lives of all civilized people. Early man relied largely on stone and ceramics, and eventually metals, to fashion tools and weapons. Civilization was advanced by discoveries such as abundant supplies of high-quality flint in northern France and southern England and firesetting to break rock. Middle Eastern cultures flourished not only because of agriculture and trade, but also because of mineral-rich deposits nearby. The earliest miners date back perhaps to 300,000 BC; their quest was for nonmetallic minerals (chert, flint, obsidian) suitable for utensils and eventually for weapons. Other rocks and minerals (ceramics, clay, salt, meteoric iron) attracted the miners for jewelry, cosmetics, construction materials, food seasoning, and coinage. At first, their excavations were confined to the surface, either pits or placers. But by about 40,000 BC, mine workings had been extended underground as short adits or shafts, and by 8000 BC as elaborate interconnected openings 300 ft (90 m) in depth. Metallurgical separation of metals from their ores and their subsequent fabrication evolved gradually over the centuries, copper being the first liberated (c. 7000 BC) followed by lead, silver, gold, and iron. Man enhanced both the sophistication of his

Jan 1, 2008

By D. S. Yantek, C. B. Brown

The mining industry is beginning to implement lithiumion batteries (LIBs) to power mine utility vehicles (MUVs) and rubber-tired mantrips (RTMs). However, the ability of LIBs to withstand the harsh conditions for these applications has not been rigorously evaluated. Concerns with the use of LIBs in the mining environment will be discussed including the effects of mechanical shock and vibration, temperature extremes, and moisture exposure. This paper will discuss adverse effects of the mining environment on LIBs and provide an overview of scientific gaps associated with the environmental susceptibility of LIBs used on MUVs and RTMs.

Feb 1, 2024

The Canadian concept for nuclear fuel waste disposal is being assessed by AECL Research in a series of experiments at its Underground Research Laboratory (URL) near Lac du Bonnet. Manitoba, Canada. As pan of this research, the Mine-by Experiment has been designed to obtain information on rock mass behavior, the development of an excavation-induced damage zone and failure mechanisms around a circular bored tunnel. An iterative design approach was used to effectively reconcile the experiment objectives and construction logistics. This paper discusses the design considerations and construction methodology adopted on the project.

Jan 1, 1991

By H. Akbari

Ordinary portland cement (OPC) is the key pozzalonic component of the concrete mix widely used as a construction material worldwide. B illions of tons of OPC are used in the construction industry each year. However, calcinations of limestone and silica that produce OPC also produce almost an equal amount of C O2 during the cement manufacturing process. Thus, OPC production accounts for nearly 7% of all anthropogenic C O2 emissions each year. The main objective of this study was to develop a geopolymer-based composite to be used as a substitute for OPC in concrete application to significantly lower the carbon footprint of the construction industry. A waste material produced during the coal combustion process was used as the main raw material for the geopolymer-based composite. It was mostly the nonmetallic content of the F-type fly ash produced from the combustion of bituminous coal. The authors envisioned extracting some of the valuable metal oxides from fly ash prior to using the major nonmetallic portion of the fly ash for geopolymer concrete application. The results obtained from this study showed that the compressive strength of geopolymer concrete compares favorably with that of conventional concrete prepared using OPC.

Dec 1, 2013

By O. K. Olawale, G. O. Edaogbogun, B. N. Ben‑Festus, F. Ben, F. R. Amodu

The environmental and health implications of artisanal gold mining activities at mining sites across Nigeria have rekindled research interest. This study aimed to assess the scalability of naturally occurring radioactive materials in gold mining sites in Iperindo, Nigeria. Soil samples were collected from three different mining sites and control locations and analyzed for natural radionuclides, mainly 238U, 232Th, and 40K, using gamma spectrometry having a sodium iodide detector. The average activity concentration values of 61.55 ± 3.71, 72.65 ± 4.45, and 1134.99 ± 38.12 Bqkg− 1 obtained from within the mining sites for 238U, 232Th, and 40K, respectively, were above the world permissible values of 33.0 Bqkg− 1 for 238U, 45.0 Bqkg− 1 for 232Th, and 420.0 Bqkg− 1 for 40K. The average activity concentration values of 15.26 ± 3.19, 21.46 ± 4.27, 381.04 ± 23.36 Bqkg− 1 estimated for 238U, 232Th, and 40K, respectively, for the control location were, however, lower than the global permissible values. The study also evaluated other radiological parameters such as radium equivalent, dose rate, annual effective dose rate, internal and external hazard indices, and alpha and gamma indices. The obtained values were 252.83 Bqkg− 1, 119.98 nGyh− 1, 147.15 mSvy− 1, 0.85 Bqkg− 1, 0.68 Bqkg− 1, 0.31 Bqkg− 1, and 1.89 Bqkg− 1 respectively. Except for radium equivalent, external and internal hazard risks, and alpha index, which were significantly lower than the recommended threshold, all other radiological parameters were higher than the recommended global limits. Moderate data reproducibility and a p-value of 0.000574 further reinforced the robustness and reliability of the results obtained in this study.

Feb 22, 2024

By George H. Willis

In the second half of the nineteenth century, bimetallism progressively replaced by gold standard. After World War I and 1931-33 depression, gold mainly reserved for official international transactions and internal use restricted. Changes since 1971 have shrunk official international use of gold. International payments deficits and surpluses now financed by private and official credit, rarely by gold. Historical review covers evolution of: (1) internal and external private use, (2) internal official use, (3) external official use, (4) role in IMF and (5) use as unit of account.

Jan 1, 1978

By Meyer Klein

Decision theory is the formal theory of the logic of decisions in view of the decision maker's objectives, preferences, I beliefs, and available information, It usually deals with weighty economic problems involving irrevocable (or costly to reverse) decisions. Capital investment planning problems constitute an instance par excellence for application of the decision theory concepts. Decision theory as it is presently conceived has evolved in recent years. At first it concentrated on decisions in the face of total lack of information and on games with intelligent adversaries. The results of these efforts proved theoretically interesting, but practically of little applicability. In the last few years, stress has shifted to the introduction of subjective probabilities and preferences, and the results have been eminently successful in applications both in government and with- in business firms in the resolution of complex problems.

Jan 1, 1970

By Gregg Davidson, Lonnie Jacobs, Brett Zernich, Alan Howard, Robert Pintabona

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. If such services are required, the assistance of an appropriate professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of the authors and are not necessarily those of SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2014

By COLIN A. LAWRENCE, Anthony Del Vescovo

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2017

By Thomas D. Kaufmann

Introduction What drives the price of gold? Supply and demand, of course. But in ways far different from the forces that drive the prices of other major metals, such as steel, aluminum, and copper. Gold, in fact, is one of the few commodities where both buyers and sellers are happy when the price goes up. Current production, production costs, and variations in production have little influence on its price. Gold inventories are so tremendous that current production has small impact on the amounts available to the market at any time. Worldwide gold inventory and production The world's inventories seem to be between 78 and 98 kt (2.5 and 3 billion oz). Since biblical times, the gold miners of the world have produced about 98 kt (3 billion oz), mostly in this century. Only small amounts have been thrown away and most of it - more than 78 kt (2.5 billion oz) - remain in bullion, coins, or jewelry. About 40% is held by central banks and other governmental authorities, 30% by private individuals as bullion or coins, and about 30% as jewelry. Except for some of the jewelry and the few industrial applications, this inventory is constantly available in marketable form at a price. By comparison, gold production is indeed small. The US Bureau of Mines estimates that the world produced 1.5 kt (50 million oz) of gold in 1986. Consequently, production increased world inventories by only 2%. Variations in production have a negligible or very short-term effect on the supply and, consequently, on the markets for gold. Although South Africa mines about 40% to 50% of the world's annual production, continuing labor strife there does not seem to have ruffled gold prices. Determining gold's price Gold prices, however, do determine cutoff grades in the mines and, thus, do influence production. Nonetheless, changes in production have little impact on the inventory supply. Consequently, it has small influence on the price of gold on the market. With a fairly stable supply, price changes are driven by changes in its demand. Unlike other metals, very little of the demand for gold comes from industry. Dental, electronic, and other industrial uses for gold consume less than 46.6 t/a (1.5 million oz per year). It would be safe to assume that such uses are less than 124 t/a (4 million oz per year) for the entire world. Variations in the 124 t (4 million oz), compared to a supply of 78 kt (2.5 billion oz) of supply can have only a negligible effect. Production net of industrial uses adds perhaps 1% annually to world inventories. This could, in time, affect markets. The increase, however, is mostly absorbed by population growth - more people wanting to own gold - and by gold being put in more attractive forms, such as coins. As an ancient Lydian king discovered, minting bullion permits

Jan 9, 1987

By Scott G. Britton

Mine exploitation is a broad subject whose focus is the technical skills or efforts needed for the extraction of mineral from a known ore body. Mine exploitation can be considered the very core of the mining engineering discipline. It begins at the conclusion of the exploration and development stages of mining and ends when the ore body is exhausted and the mine (or mines)closes and is reclaimed. Section 8 on mine exploitation is comprised of seven chapters: (1) classification of mining methods, (2) mine surveying and mapping, 3) systems engineering, (4) computer methods, (5) labor relations and training, (6) management and administration, and (7) mine closure, sealing, and abandonment. Each chapter focuses its efforts towards providing detailed and useful information for the engineer on basic mine exploitation principles. The information can be applied to a broad range of mining problems without regard to mineral type or mining method.

Jan 1, 2008

By Ankit Jha, Javad Sattarvand, Aaron Young

Blockchains are one of the prominent disruptive technologies that are being implemented in several disciplines. The application of blockchains in the mining and mineral industry can provide utility for several processes especially when the industry is undertaking digital transformation. The governing principles of blockchain technology are applicable in undertaking transformation in several processes within the mining industry. This study investigates the applications of blockchain technology within the realms of the mining industry and identifies key areas of implementation. A systematic review of publications on academic platforms relating to blockchain technology in the mining industry did not retrieve a considerable number of articles. Consequently, a thorough review of white papers and articles authored by individuals on use cases within the mining industry is compiled and presented in this manuscript. This paper identifies all the potential areas within the mining industry where blockchains could provide value and improve processes through their implementation. The broad area of implementation of blockchains includes supply chain, traceability in spare parts, contract management, regulatory compliance, and cyber security.

Nov 23, 2023

By Shemek Oginski, MARK C. JOHNSON

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2015

By Alan K. Burton

Massive increases in the productive capability of open pit nines after World. War II were in a large part made possible by the introduction of ever larger trucks and the supply of a seemingly bottomless ocean of inexpensive and readily accessible oil. Over a period of about 25 years, a variety of technological developments permitted a tenfold truck payload increase, from about 32 tonnes (35 tons) to 320 tonnes (350 tons). There is no, doubt that this was a remarkable achievement resulting in impressive benefits of scale as well as the ability to control what would otherwise have become an intolerable traffic congestion problem in today's large open pit mines. It became fashionable and economically possible during this time to mine large quantities of low grade material and to tolerate very high stripping ratios. As tine has gone by and as easier to get at and higher grade deposits have been depleted, ore grades have tended to decline while stripping ratios have increased. The alternative to reduced revenues has been an ever increasing demand to step up production which in turn has led to a continuing demand for ever larger and larger trucks. While a larger truck has had the effect of reducing the cost of the operator per unit of material moved and of reducing traffic congestion, it has not specifically addressed the subject of fuel cost.

Jan 1, 1981

The Environmental Session will consist of five papers dealing with various aspects of trace elements associated with coal. Analytical procedures to determine the amounts of trace elements will be discussed. Other papers will deal with trace elements in streams downstream from coal mines, potential pollution from wastes from coal preparation plants, potential recovery of trace elements, and potential pollution from trace elements as a result of the combustion of coal.

Jan 1, 1979

By M. Botz

Alacer Gold Corporation is constructing the Çöpler Gold Mine in eastern Turkey. Mining commenced in the fourth quarter of 2009 and gold production started in the fourth quarter of 2010. The mine is a 15,500 t/day oxide heap leach with three-stage crushing, agglomeration, carbon adsorption and electrowinning for final metal recovery. Leach solution copper levels are expected to be relatively low during the first two years of production, but will increase in later years due to higher copper content in the mined and processed ore. Over the mine life, approximately 40 Mt of ore will be placed on the leach pad, which will contain about 35,000 t of copper. Metallurgical testing indicates copper extraction will vary by ore type and, if controls are not implemented, may lead to copper levels exceeding 1,000 mg/L in pregnant solution. High copper levels in leach solution have the deleterious effect of increasing cyanide consumption and potentially overwhelming the ability of the carbon circuit to effectively adsorb the principal economic metals, which in this case are gold and silver. Using data obtained from laboratory leach column testwork, the heap leach facility was modeled using METSIM process simulation software to estimate the build-up of copper in leach solution over the life of the mine. Laboratory testwork was also performed to evaluate process conditions for treating a portion of pregnant leach solution via sulfide addition to precipitate saleable copper as copper sulfide (Cu2S).

Jan 1, 2011